Civic Intelligence

Warren Wilson College

990 • Fiscal year 2016 • EIN 56-0767736

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 15, 2016

PO Box 9000Asheville, NC 28815-9000

(828) 298-3325

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

33rd percentile

0.21x

Higher debt load relative to assets than 33% of similar nonprofits.

2016 filings • NTEE B • $100M-$250M nonprofits • Source year 2016

Liabilities / Revenue

38th percentile

0.57x

Higher debt load relative to revenue than 38% of similar nonprofits.

2016 filings • NTEE B • $100M-$250M nonprofits • Source year 2016

Net Margin

10th percentile

-15%

Higher net margin than 10% of similar nonprofits.

2016 filings • NTEE B • $100M-$250M nonprofits • Source year 2016

Top Officer Pay

32nd percentile

$340,237

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Asset Growth

25th percentile

-2.5%

Faster asset growth than 25% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Revenue Growth

14th percentile

-18%

Faster revenue growth than 14% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Assets

Down

$104,213,246

Down $2,710,917 (-2.5%) from 2015

Net Assets

Down

$82,443,439

Down $6,001,489 (-6.8%) from 2015

Liabilities

Up

$21,769,807

Up $3,290,572 (+18%) from 2015

Revenue

Down

$38,422,391

Down $8,288,878 (-18%) from 2015

Expenses

Down

$44,015,352

Down $843,232 (-1.9%) from 2015

Net Income

Down

-$5,592,961

Down $7,445,646 (-402%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2011: $101,597,511Liabilities 2011: $18,563,082Net Assets 2011: $83,034,4292011Assets 2012: $108,610,397Liabilities 2012: $18,469,985Net Assets 2012: $90,140,4122012Assets 2013: $114,717,461Liabilities 2013: $19,873,826Net Assets 2013: $94,843,6352013Assets 2014: $105,909,538Liabilities 2014: $18,521,964Net Assets 2014: $87,387,5742014Assets 2015: $106,924,163Liabilities 2015: $18,479,235Net Assets 2015: $88,444,9282015Assets 2016: $104,213,246Liabilities 2016: $21,769,807Net Assets 2016: $82,443,4392016Assets 2017: $103,272,386Liabilities 2017: $20,376,262Net Assets 2017: $82,896,1242017Assets 2018: $103,083,557Liabilities 2018: $20,334,335Net Assets 2018: $82,749,2222018Assets 2019: $102,390,809Liabilities 2019: $20,782,554Net Assets 2019: $81,608,2552019Assets 2020: $103,027,241Liabilities 2020: $21,977,829Net Assets 2020: $81,049,4122020Assets 2021: $113,155,084Liabilities 2021: $23,115,652Net Assets 2021: $90,039,4322021Assets 2022: $106,662,699Liabilities 2022: $20,348,333Net Assets 2022: $86,314,3662022Assets 2023: $103,554,057Liabilities 2023: $21,361,609Net Assets 2023: $82,192,4482023Assets 2024: $106,559,244Liabilities 2024: $21,720,479Net Assets 2024: $84,838,7652024

Highlighted filing

2016

Assets$104,213,246
Liabilities$21,769,807
Net Assets$82,443,439

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$60M$40M$20M$0-$20MExpenses 2011: $38,016,6972011Revenue 2012: $47,155,374Expenses 2012: $38,013,093Net Income 2012: $9,142,2812012Expenses 2013: $40,977,7832013Revenue 2014: $34,770,184Expenses 2014: $43,716,084Net Income 2014: -$8,945,9002014Revenue 2015: $46,711,269Expenses 2015: $44,858,584Net Income 2015: $1,852,6852015Revenue 2016: $38,422,391Expenses 2016: $44,015,352Net Income 2016: -$5,592,9612016Revenue 2017: $38,328,415Expenses 2017: $40,235,464Net Income 2017: -$1,907,0492017Revenue 2018: $35,537,966Expenses 2018: $36,795,653Net Income 2018: -$1,257,6872018Revenue 2019: $38,593,260Expenses 2019: $40,516,684Net Income 2019: -$1,923,4242019Revenue 2020: $40,567,848Expenses 2020: $42,328,622Net Income 2020: -$1,760,7742020Revenue 2021: $40,910,763Expenses 2021: $41,457,479Net Income 2021: -$546,7162021Revenue 2022: $50,895,814Expenses 2022: $47,256,988Net Income 2022: $3,638,8262022Revenue 2023: $44,477,604Expenses 2023: $49,734,481Net Income 2023: -$5,256,8772023Revenue 2024: $52,164,694Expenses 2024: $50,458,116Net Income 2024: $1,706,5782024

Highlighted filing

2016

Revenue$38,422,391
Expenses$44,015,352
Net Income-$5,592,961
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 15, 2016
Return Version
2015v2.1
Gross Receipts
$70,919,938
Mission and Program Overview

Mission

The mission of warren wilson college is to provide a distinctive undergraduate and graduate liberal arts education. Our undergraduate education combines academics, work, and service in a learning community committed to environmental responsibility, cross-cultural understanding, and the common good.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$50,229,587$41,227,156▼ $9,002,431
Land, Buildings, and Equipment, Net$30,640,469$30,031,129▼ $609,340
Investments Other Securities$5,929,946$12,111,255▲ $6,181,309
Savings and Temporary Cash Investments$9,089,623$7,264,318▼ $1,825,305
Accounts Receivable$955,740$655,400▼ $300,340
Prepaid Expenses and Deferred Charges$303,460$654,893▲ $351,433
Pledges and Grants Receivable$226,374$558,571▲ $332,197
Intangible Assets-$334,214-
Receivables From Officers Etc$166,750$169,947▲ $3,197
Inventories for Sale or Use$311,372$152,228▼ $159,144
Other Notes and Loans Receivable, Net$58,832$55,664▼ $3,168
Cash and Non-Interest-Bearing Accounts$750$850▲ $100
Total Assets$106,924,163$104,213,246▼ $2,710,917
Other Assets Total$9,011,260$10,997,621▲ $1,986,361
Liabilities
Mortgage Notes Payable Secured by Investment Property$12,237,848$16,370,000▲ $4,132,152
Other Liabilities$4,412,726$3,376,837▼ $1,035,889
Deferred Revenue$970,508$1,053,918▲ $83,410
Accounts Payable and Accrued Expenses$858,153$969,052▲ $110,899
Total Liabilities$18,479,235$21,769,807▲ $3,290,572
Net Assets / Fund Balance
Permanently Rstr Net Assets$30,708,178$31,095,254▲ $387,076
Unrestricted Net Assets$29,627,136$26,407,009▼ $3,220,127
Temporarily Rstr Net Assets$28,109,614$24,941,176▼ $3,168,438
Total Net Assets Fund Balance$88,444,928$82,443,439▼ $6,001,489
Total Liabilities and Net Assets / Fund Balance$106,924,163$104,213,246▼ $2,710,917

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$25,474,960$31,280,186$56,755,146
Equipment$1,464,097$11,026,225$12,490,322
Land$2,964,494-$2,964,494
Other Land Buildings$127,578$509,102$636,680
Other Assets Org$19,374--
Other Securities$4,065,768--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$59,576,473$603,463▼ $214,987$1,993,141$56,191,045
2014$58,421,985$754,106▲ $4,263,919$2,030,241$59,576,473
2013$65,198,540$764,101▼ $3,697,211$2,032,241$58,421,985
2012$61,612,768$1,664,432▲ $4,936,937$1,756,779$65,198,540
2011$55,604,445$447,618▲ $8,050,656$1,366,630$61,612,768
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Solnick Steven LPresidentFT$310,640$29,597$340,237
Owens StephanieVP Admin & FFT$141,940$23,327$165,267
Owens StephanieVP Admin & Finance-$141,940$23,327$165,267
Garrett Paula KVP AcademicFT$128,792$17,831$146,623
Bowles K JohnsonVP for AdvanFT$127,286$17,000$144,286
Perrine PaulDean of StudFT$76,054$29,410$105,464
Robertson IanDean of WorkFT$80,750$14,537$95,287
Kramer CathyDean of ServFT$66,001$16,218$82,219
Boyd Amy E Ex-officioFaculty RepFT$57,706$11,529$69,235
Holmboe Janelle LVP for EnrolFT$60,413$8,601$69,014
Segall Bk Ex-officioStaff RepFT$34,618$10,057$44,675

Highest Paid Contractors

ContractorServicesLocationCompensation
Sodexo INC & AffiliatesFood Svc ContraPO BOX 536922, Atlanta, GA 30322$1,760,584
Goforth Builders INCConstruction190 CHARLOTTE HIGHWAY, Asheville, NC 28803$487,781
Rolyn Companies INCContractor220 OLD AIRPORT ROAD, Fletcher, NC 28732$464,595
JenzabarSoftware101 HUNTINGTON AVENUE SUITE 2220, Boston, MA 02199$438,316
Center For Craft Creativity & DesignDesign67 BROADWAY, Asheville, NC 28801$198,806
Revenue and Support

Revenue Composition

Contributions and Grants
$6,010,113
Program Service Revenue
$31,243,942
Investment Income
$630,140
Other Revenue
$538,196
All Other Contributions
$2,765,590
Change in Net Assets
$-5,592,961

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Securities Publicly Traded4$141,767
Total Noncash Contributions4$141,767

Audited Revenue Reconciliation

Revenue per Audited Statements
$38,948,491
Revenue Not Reported on Financial Statements
$-526,100
Revenue Not Reported on Form 990
$-13,114,957
Other Revenue Adjustments
$-526,100
Total Revenue per Audited Statements
$25,833,534
Total Revenue per Form 990
$38,422,391
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$18,794,539
Grants and Similar Amounts Paid$12,706,429
Other Expenses$12,514,384
Total Fundraising Expense$1,287,489
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$12,589,145$1,244,863$572,121$14,406,129
Grants to Domestic Individuals$12,482,056--$12,482,056
Depreciation Depletion$1,872,435$290,719-$2,163,154
All Other Expenses$2,076,741--$2,076,741
Other Expenses$1,595,236$2,285,171$458,615$1,595,236
Other Employee Benefits$1,257,591$143,859$53,263$1,454,713
Current Officers, Directors, Trustees, and Key Employees$407,391$811,403$143,420$1,362,214
Payroll Taxes$715,425$172,852$38,144$926,421
Pension Plan Contributions$550,779$72,357$21,926$645,062
Interest-$464,338-$464,338
Foreign Grants$224,373--$224,373
Total Functional Expenses$37,242,301$5,485,562$1,287,489$44,015,352

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$44,015,352
Expenses per Audited Statements$31,835,023
Total Expenses per Audited Statements$31,835,023
Expenses Not Reported on Financial Statements$12,180,329
Other Expense Adjustments$12,180,329
International Activity

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Donna ReadSpouse of Vp AcSee BelowNo-
Gregory OwensSpouse of Vp AdSee BelowNo-
MAEVE O'CONNORPresident SpousSee BelowNo-

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$166,750$169,947▲ $3,197
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Advance Tuition & Room Deposits$2,080,029
Line of Credit$671,935
Annuity Payable$446,753
Obligations Under Capital Lease$126,886
Other$51,234
Swap Instrument-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
Yes
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 4

In april 2016 the board of trustees resolved to amend the bylaws to change the definition of college officers beginning july 1, 2016. In addition during april 2016 the board of trustee resolved to amend the name of the student caucus to the student government association.

Form 990, Page 6, Part VI, Line 11B

Upon receiving the draft copy of form 990, certain questions that arise are distributed to the appropriate staff. Key personnel and trustees review the form 990 before it is signed, including the vice president for administration and finance/chief financial officer and the controller, and the chair of the standing audit committee and the chair of the board. The full board is provided the opportunity to review the copy of the return without schedule b on its password-protected website, with a notice that the full schedule b is available for review in the controller's office.

Form 990, Page 6, Part VI, Line 12C

The college has a written conflict of interest policy, last amended on october 2, 2007, which specifies in detail those circumstances giving rise to a potential conflict of interest on the part of the college trustees. Pursuant to this policy, trustees must file an annual report specifying any relationships or activities which might possibly constitute a conflict. These reports are reviewed by the chair of the audit committee of the board as well as the chair of the board of trustees and any issues raised by a specific report are resolved according to the procedures outlined in the conflict of interest policy. A similar policy for employees of the college was approved at a staff forum on march 23, 2011 and defines conflict of interest and related terms and outlines a procedure for disclosure, reporting and compliance with the policy.

Form 990, Page 6, Part VI, Line 19

The college's current policy is to make its governing documents, conflict of interest policy and financial statements available to the general public on a case-by-case, need-to-know basis, reserving the right to withhold this information in situations deemed potentially harmful to the college. The college makes its financial statements available on various websites, and upon request by donors, foundations, and agencies.

Filing and Contact Details

Filer

Filer Name
Warren Wilson College
EIN
56-0767736
Phone
8282983325
Address
PO BOX 9000, ASHEVILLE, NC 28815-9000

Signing Officer

Name
Solnick Steven L
Title
President
Phone
8282983325
Signed
2016-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Solnick Steven L
Formed
1962
Legal Domicile
Nc
Voting Board Members
37
Independent Board Members
27
Employees
1,403
Volunteers
24

Preparer

Firm
Crawley Lee & Company Pa
Address
PO BOX 5595, ASHEVILLE, NC 28813-5595
Preparer
James a Lee CPA
Phone
8282745524
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The mission of warren wilson college is to provide a distinctive undergraduate and graduate liberal arts education. Our undergraduate education combines academics, work, and service in a learning community committed to environmental responsibility, cross-cultural understanding, and the common good.

Form 990, Page 2, Part III, Line 4A

Educational program that enables students to think critically, obtain and evaluate information effectively, and communicate clearly, introducing them to a variety of ways by which humans acquire and use knowledge, and that provides students with opportunities to develop a breadth of understanding and to make connections among areas considered critical to a liberal arts curriculum, requiring that they demonstrate a depth of understanding through competence in one or more academic disciplines. Environmental studies is the major with the largest number of students, in keeping with another institutional objective, that of promoting environmental responsibility through education, campus operations, policy, and community outreach. The college also furnishes students with opportunities to understand and appreciate a variety of cultures, assisting them in developing awareness of the commonality of human problems and the diversity of the world. Toward these ends, the college sponsored a number of study away destinations in indonesia, the united kingdom, costa rica, germany, malta, and italy to which 61 students traveled, led by the college's own faculty and staff. In addition, 19 students studied abroad independently for the summer, semester, or year with partner institutions or other u.s. Accredited programs in four latin american nations, seven european nations, two nations in asia, and two nations in africa. The triad concept of education also leads students into considered reflection on the meaning and value of work and service to others, guiding students in examining their lives and articulating their beliefs and values, and provides them with opportunities for personal, physical, moral, and spiritual development. Towards these ends, the college organized 94 diverse work crews in the college work program during the year, with approximately 720 students participating in the fall of 2015 and 667 students participating in the spring of 2016. The annual college-wide work day yielded about 275 student participants and about 35 faculty/staff participants. In the service area triad, 707 students completed 55,689 volunteer hours at 258 local, national, and international agencies during the year. For the college's annual service day, over 320 students, faculty, and staff participated at 18 sites.

Form 990, Part XI, Line 9

Scholarships/fellowships netted with tuition on financial -12,706,429 unrelated business cost of goods sold reported separately 526,100 scholarships/fellowships netted with tuition on financial 12,706,429 unrelated business cost of goods sold reported separately -526,100

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 1B

The college holds funds for a variety of academic, institutional, and student groups and accounts for additions to and distributions from these funds separately.

Schedule D, Page 2, Part V, Line 4

The college has adopted investment and spending policies, approved by the board of trustees, for endowment assets that attempt to provide a predictable stream of funding to programs supported by its endowment while seeking to maintain the purchasing power of these endowment assets over the long-term. The college's spending and investment policies work together to achieve this objective. This investment policy establishes an achievable return objective through diversification of asset classes. The current long-term objective is to protect the corpus of assets in real terms and to achieve the highest, prudent real return possible. To satisfy its long- term rate-of-return objectives, the college relies on a total return strategy in which investment returns are achieved through both capital appreciation and current yield. In 2016 the spending policy calculates the disbursements from the endowment funds based on 7.3% of the average fair value of the prior 12 quarters. The increased endowment draw above 5% was used to offset expenditures as appropriate within the operating budget, with the funds thus displaced used to create the strategic investment fund. The spending rate for restricted funds that did not displace other funds within the operating budget remained at 5%. This spending policy allows for preservation of principal as well as capital appreciation.

Schedule D, Page 3, Part X

The college's policy is to evaluate all tax positions and to consult with experts to identify those that may be considered uncertain. All identified material tax positions will be assessed and measured by a reasonably possible threshold to determe if the benefit of an uncertain tax position should be recognized in the financial statements. Any change in the amount of a tax position will be recognized in the period the change occurs. The college is exempt from federal income taxes under section 501(c)(3) of the internal revenue code, except on income derived from the unrelated buisness activities. The college's federal returns of organization exempt from income tax (form 990) for 2015, 2014, and 2013 are subject to examination by the irs, generally for three years after they are filed. The colleged feeral exempt organization business income tax returns (form 990t) for 2015, 2014, and 2013 are subject to examination by the irs, generally for three years after they are filed.

Schedule D, Page 4, Part XI, Line 2D

Scholarships/fellowships netted with tuition on financial -12,706,429

Schedule D, Page 4, Part XI, Line 4B

Unrelated business cost of goods sold reported separately -526,100

Schedule D, Page 4, Part XII, Line 4B

Scholarships/fellowships netted with tuition on financial 12,706,429 unrelated business cost of goods sold reported separately -526,100

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$107$21.7$84.8$52.2$50.5$1.71
2023Detailed filing. Detailed filing data is available for this year.$104$21.4$82.2$44.5$49.7$5.26
2022Detailed filing. Detailed filing data is available for this year.$107$20.3$86.3$50.9$47.3$3.64
2021Detailed filing. Detailed filing data is available for this year.$113$23.1$90.0$40.9$41.5$0.55
2020Detailed filing. Detailed filing data is available for this year.$103$22.0$81.0$40.6$42.3$1.76
2019Detailed filing. Detailed filing data is available for this year.$102$20.8$81.6$38.6$40.5$1.92
2018Detailed filing. Detailed filing data is available for this year.$103$20.3$82.7$35.5$36.8$1.26
2017Detailed filing. Detailed filing data is available for this year.$103$20.4$82.9$38.3$40.2$1.91
2016Detailed filing. Detailed filing data is available for this year.$104$21.8$82.4$38.4$44.0$5.59
2015Detailed filing. Detailed filing data is available for this year.$107$18.5$88.4$46.7$44.9$1.85
2014Detailed filing. Detailed filing data is available for this year.$106$18.5$87.4$34.8$43.7$8.95
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$115$19.9$94.8$41.0
2012Summary only. Only limited summary data is available for this year.$109$18.5$90.1$47.2$38.0$9.14
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$102$18.6$83.0$38.0