2024-05-10T10:19:39-05:00 2023-06-30 560570567 DMJPS PLLC 703 GREEN VALLEY ROAD SUITE 201 GREENSBORO NC 27408 990 2022-07-01 560532296 BENNETT COLLEGE BENN 3365172100 900 E WASHINGTON STREET GREENSBORO NC 27401 SUZANNE WALSH PRESIDENT 3365172100 2024-05-08 1 SUZANNE WALSH 999009999 1 STACY M WEST CPA P00452212 3362759886 2024-05-08 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z SUZANNE WALSH 900 E WASHINGTON STREET GREENSBORO NC 27401 16836615 0 X WWW.BENNETT.EDU X 1889 NC THE MISSION OF THE COLLEGE IS TO PREPARE STUDENTS PERSONALLY, SOCIALLY AND INTELLECTUALLY TO EFFECTIVELY FUNCTION IN A CHANGING GLOBAL SOCIETY. 17 17 188 20 0 0 13681861 10971120 2287984 3401171 976481 2375064 2785113 89260 19731439 16836615 3657739 2475577 0 0 5852903 5739057 0 0 421208 7178334 7971473 16688976 16186107 3042463 650508 43688043 42982121 8142966 7258778 35545077 35723343 TO OFFER WOMEN AN EDUCATION CONDUCIVE TO EXCELLENCE IN SCHOLARLY PURSUITS, PREPARATION FOR LEADERSHIP ROLES IN THE WORKPLACE, SOCIETY, AND THE WORLD, AND LIFE-LONG LEARNING IN A TECHNOLOGICALLY ADVANCED, COMPLEX GLOBAL SOCIETY. 0 0 7093620 2475577 4919548 TO SUSTAIN A LEARNING COMMUNITY IN WHICH STUDENTS CAN PREPARE ACADEMICALLY, SOCIALLY, AND SPIRITUALLY FOR LEADERSHIP IN A COMPLEX, DIVERSE, AND RAPIDLY CHANGING WORLD. A TOTAL OF 332 STUDENTS WERE ENROLLED DURING THE FALL AND SPRING SEMESTERS. 1116972 908776 AUXILIARY ENTERPRISE SUPPORTS THE COLLEGE'S MISSION OF PROVIDING QUALITY EDUCATIONAL OPPORTUNITIES. THESE SERVICES INCLUDE, BUT ARE NOT LIMITED TO, FOOD SERVICES, CAMPUS HOUSING, POSTAL SERVICES, PARKING, VENDING, CAMPUS STORES AND ATHLETICS. 8210592 1 1 0 0 0 0 0 1 0 1 1 0 1 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 96 0 1 188 0 0 0 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X SUZANNE WALSH 3365172100 900 E WASHINGTON ST GREENSBORO NC 27401 MS KIMBERLY JESSUP RIPBERGER TREASURER 1.00 X X 0 0 0 NICOLE WASHINGTON TRUSTEE 1.00 X 0 0 0 DR PAMELA CV JOLLY TRUSTEE 1.00 X 0 0 0 DEBRA CLARK JONES TRUSTEE 1.00 X 0 0 0 REV DR HENRY FITZJEFFERIES TRUSTEE 1.00 X 0 0 0 JERMON M BAFATY TRUSTEE 1.00 X 0 0 0 ATTY MADIEU WILLIAMS TRUSTEE 1.00 X 0 0 0 ATTY CASSANDRA JONES-HAVARD TRUSTEE 1.00 X 0 0 0 MRS KWANZA JONES PRESIDENT 1.00 X X 0 0 0 DR MARK MILLIRON VICE PRESIDENT FOR FINANCE 1.00 X X 0 0 0 MRS NATALIE RENEE PARKER SECRETARY 1.00 X X 0 0 0 MS LANELLA SMITH TRUSTEE 1.00 X 0 0 0 DR SANTIBA CAMPBELL TRUSTEE - NON-VOTING 1.00 X 0 0 0 DR CARLINDA PURCELL TRUSTEE 1.00 X 0 0 0 DR JAMES ANDERSON TRUSTEE 1.00 X 0 0 0 SENATOR GLADYS ASHE ROBINSON PHD TRUSTEE 1.00 X 0 0 0 DR CHARLENE GREEN TRUSTEE 1.00 X 0 0 0 MS KIMBERLY DRYE-DANCY DEAN, STUDENT EXPERIENCE & 40.00 X 0 0 0 DR LAURA COLSON VICE PRESIDENT, ACADEMIC AFFAIRS 40.00 X 127857 0 11022 MS ELIZABETH WAUGH CFO AND VICE PRESIDENT OF BUSINESS AND FINANCE 40.00 X 122252 0 12035 MR LADANIEL GATLING II VICE PRESIDENT, INSTITUTIO 40.00 X 38755 0 6255 DR WILLIETTA GIBSON DEAN, FACULTY 40.00 X 0 0 0 MS CATHERINE HURD VICE PRESIDENT, ENROLLEMEN 40.00 X 65488 0 5161 DR SUZANNE E WALSH JD PRESIDENT 40.00 X 297885 0 0 MR THOMAS GRIFFIS JR EXECUTIVE DIRECTOR, CAMPUS 40.00 X 129867 0 12116 MS ADRENA COLEMAN VICE PRESIDENT FOR OPERATI 40.00 X 0 0 0 MR GREG HODGES VP FOR BUSINESS OPERATIONS 40.00 X 189915 0 19505 DR GWENDOLYN S O'NEAL CHIEF OPERATING OFFICER 40.00 X 0 0 0 JERMAINE THOMAS EXECUTIVE DIRECTOR, CAMPUS SAFETY AND HEALTH 40.00 X 100470 0 11219 YVETTE WIMBLERLY ASSISTANT VICE PRESIDENT, ENROLLMENT 40.00 X 34016 0 2554 SANTIBA CAMPBELL ASSOCIATE PROFESSOR, PSYCHOLOGY 40.00 X 75444 0 11570 FRANK MCCAIN VICE PRESIDENT FOR INSTITUTIONAL ADVANCEMENT 4.00 X 82869 0 806 1264818 0 92243 6 0 1 0 UNITED HEALTHCARE INC 2301 W PLANO PKWY SUITE 300 PLANO TX 75075 INSURANCE 704555 DAIKIN APPLIED AMERICAS INC 24827 NETWORK PLACE CHICAGO IL 60673 CONSTRUCTION 628755 WXPROOFING LLC 309 GALLIMORE DAIRY ROAD SUITE 106 GREENSBORO NC 27409 CONSTRUCTION 459268 CLIFTON LARSON ALLEN LLP 220 S 6TH ST STE 300 MINNEAPOLIS MN 55402 ACCOUNTING 368289 PIONEER COLLEGE CATERERS 303 GLENROSE AVENUE NASHVILLE TN 37210 FOOD SERVICE 345349 5 8082115 2889005 10971120 TUITION AND FEES 611600 2492395 2492395 SALES AND SERVICES OF AUXILIARY E 611710 908776 908776 3401171 852008 852008 37171 0 37171 37171 37171 1523056 0 1523056 1523056 1523056 OTHER INCOME 900099 52089 52089 52089 16836615 5828324 0 37171 2475577 2475577 1214723 1214723 4524334 2618781 1566034 339519 401409 401409 1551435 1241923 294773 14739 263226 263226 CONTRACTED SERVICES 3840122 1109299 2714024 16799 MISCELLANEOUS 740006 440796 253398 45812 UTILITIES 686806 16921 669711 174 SUPPLIES 488469 307295 177009 4165 16186107 8210592 7554307 421208 2981308 1299645 256283 523239 1399720 706833 11229 187605 200736 33450501 11787453 21366776 21663048 14316057 15390203 2741821 2741821 427244 456596 43688043 42982121 822465 779361 7209641 6443559 110860 35858 8142966 7258778 X 20093130 18395056 15451947 17328287 35545077 35723343 43688043 42982121 X 650508 -501594 29352 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 14267353 200009 1418419 1225089 49198 14611494 15885069 649588 -1771185 384369 111750 14267353 13999399 176198 2233315 279307 121873 122663 15885069 13706721 48751 808404 469009 13946 81522 13999399 13114789 146252 703870 197155 13408 47627 13706721 0.03000 0.70000 0.27000 0 0 722071 722071 29530778 11787453 17743325 2297578 2297578 900074 900074 21663048 ART COLLECTION 2741821 F 2741821 DEPOSITS AND OTHER LIABILITIES 35858 35858 X 13859444 -501594 -501594 14361038 2475577 2475577 16836615 13710530 0 13710530 2475577 2475577 16186107 PART X, LINE 2: THE COLLEGE QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE CODE AND, THEREFORE, HAS MADE NO PROVISION FOR INCOME TAXES. THE COLLEGE ACCOUNTS FOR UNCERTAIN INCOME TAX POSITIONS BY PRESCRIBING A MINIMUM PROBABILITY THRESHOLD A TAX POSITION MUST MEET BEFORE A FINANCIAL STATEMENT INCOME TAX BENEFIT IS RECOGNIZED. THE MINIMUM THRESHOLD IS DEFINED AS A TAX POSITION, BASED SOLELY ON ITS TECHNICAL MERITS, WHICH WOULD MORE LIKELY THAN NOT BE SUSTAINED UPON EXAMINATION BY THE RELEVANT TAX AUTHORITY WITH KNOWLEDGE OF THE SAME FACTS. THE TAX BENEFIT TO BE RECOGNIZED IS MEASURED AS THE LARGEST AMOUNT OF BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON ULTIMATE RESOLUTION. BASED ON ALL KNOWN FACTS, CIRCUMSTANCES, AND CURRENT TAX LAW, THE COLLEGE BELIEVES THE TOTAL AMOUNT OF UNCERTAIN INCOME TAX POSITION LIABILITIES AND RELATED ACCRUED INTEREST ARE NOT MATERIAL TO ITS FINANCIAL POSITION. AS OF JUNE 30, 2023 AND INCLUDING THE PREVIOUS THREE (3) YEARS CONSIDERING EXTENSIONS, THE COLLEGE'S INCOME TAX RETURNS ARE OPEN AND SUBJECT TO EXAMINATION BY TAX AUTHORITIES WITH RELEVANT JURISDICTION. SHOULD SUCH AN EXAMINATION TAKE PLACE, MANAGEMENT DOES NOT ANTICIPATE ANY SIGNIFICANT ISSUES RELATED TO THE OPEN YEARS. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND SCHOLARSHIPS NETTED WITH REVENUE PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND SCHOLARSHIPS NETTED WITH REVENUE PART III LINE 4 THE CAMPUS OF BENNETT COLLEGE IS HOME TO A HOST OF HISTORICAL DOCUMENTS, CIVIL RIGHTS ARTIFACTS AND URBAN TREASURES, MANY OF THE ITEMS ARE ON DISPLAY FOR PUBLIC EXHIBITION, BUT ALSO FOR THE EDUCATION OF FUTURE GENERATIONS OF COLLEGE STUDENTS. PART V LINE 4 THE ENDOWMENT FUNDS SHOWN ARE CONSIDERED PERMANENTLY RESTRICTED. THE COLLEGE DOES NOT INTEND TO USE THE FUNDS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE COLLEGE ADMITS STUDENTS OF ANY RACE, COLOR, NATIONAL OR ETHNIC ORIGIN. THE COLLEGE DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, NATIONAL OR ETHNIC ORIGIN IN THE ADMINISTRATION OF ITS EDUCATIONAL POLICIES, SCHOLARSHIPS, OR LOAN PROGRAMS AND ATHLETIC AND SCHOOL ADMINISTERED PROGRAMS. THE COLLEGE'S NON-DISCRIMINATION STATEMENT APPEARS IN ALL BROCHURES AND APPLICATION FOR ADMISSION. SCHEDULE E, PART I, LINE 6 THE COLLEGE OFFERS SCHOLARSHIPS AND STUDENT FINANCIAL AID TO ASSIST WITH MEETING THE STUDENT'S FINANCIAL OBLIGATIONS. THE FINANCIAL AID OFFICE HAS THE NECESSARY POLICIES AND PROCEDURES TO ENSURE THAT THE COLLEGE ADHERES TO AND COMPLIES WITH FEDERAL REGULATIONS REGARDING ELIGIBILITY FOR STUDENT FINANCIAL AID. REQUIREMENTS FOR RECEIVING SCHOLARSHIPS DEPEND UPON OTHER FACTORS, SUCH AS GRADE POINT AVERAGE, FAMILY INCOME, OR ATHLETIC TALENTS. 1 PRIVATELY FUNDED STUDENT SCHOLARSHIPS 142 1359887 FEDERAL FINANCIAL AID 209 822940 STATE FINANCIAL AID 142 292750 PART III LINE 1 ALL SCHOLARSHIPS ARE AWARDED BASED UPON SPECIFIC CRITERIA MAINTAINED BY THE FINANCIAL AID OFFICE. REQUIREMENTS FOR RECEIVING SCHOLARSHIPS DEPEND UPON OTHER FACTORS, SUCH AS GRADE POINT AVERAGE, FAMILY INCOME OR ECONOMIC NEED. THE COLLEGE'S FINANCIAL AID STAFF MONITORS THE ELIGIBILITY GUIDELINES TO ENSURE COMPLIANCE. THE COLLEGE UNDERGOES THE UNIFORM GUIDANCE AUDIT ANNUALLY. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 DR SUZANNE E WALSH JD PRESIDENT 297885 0 0 0 0 0 0 0 0 0 297885 0 0 0 MR GREG HODGES VP FOR BUSINESS OPERATIONS 189915 0 0 0 0 0 0 0 19505 0 209420 0 0 0 X 2 114548 FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE COLLEGE'S POLICY IS THAT THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEW THE IRS FORM 990 THAT IS FILED ON THE COLLEGE'S BEHALF BEFORE IT IS FILED WITH THE IRS. AN APPROVED MOTION OR AGREEMENT BY THE BOARD OF TRUSTEES IS REQUIRED IN ORDER FOR THE FORM 990 TO BE FILED. IRS FORM 990 SHALL BE DELIVERED TO THE BOARD MEMBERS FOR REVIEW ONE WEEK PRIOR TO THE FILE DATE. THE MEANS OF DELIVERY OF THE DOCUMENT SHALL BE IN HARD COPY OR VIA EMAIL TO EACH BOARD MEMBER'S BUSINESS MAILING ADDRESS OR EMAIL ADDRESS. THE RESULTS OF THE REVIEW AND SUBSEQUENT ACTIONS REGARDING THE IRS FORM 990 SHALL BE RECORDED IN THE OFFICIAL MEETING MINUTES OF THE COLLEGE. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE PROVIDES THE CONFLICT OF INTEREST STATEMENT TO THE BOARD MEMBERS AT THE ANNUAL MEETING. BOARD MEMBERS WILL BE REQUIRED TO COMPLETE A STATEMENT WHICH WILL BE MAINTAINED IN INDIVIDUAL MEMBERS' FILES. FORM 990, PART VI, SECTION B, LINE 15A: THE COMPENSATION OF THE PRESIDENT WAS BASED ON RECOMMENDATIONS FROM AN EXECUTIVE SEARCH FIRM. THE EMPLOYMENT CONTRACT WAS REVIEWED AND APPROVED BY THE CHAIR OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR TOP OFFICERS OF THE COLLEGE IS SET AT THE DISCRETION OF THE PRESIDENT. THIS DISCRETION IS BASED ON 1) PREVIOUS SALARY HISTORY, 2)MARKET COMPARABLE COMPENSATION DATA, AND 3) SALARY SURVEY DATA FOR COMPARABLE POSITIONS. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE UNDER THE ADMINISTRATION TAB ON THE COLLEGE'S WEBSITE. FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. TO OBTAIN A COPY, CONTACT THE BUSINESS OFFICE AND SUBMIT A REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST 29,352. FORM 990, PART XII LINE 2C THE ORGANIZATION HAS NOT CHANGED ITS PROCESS FOR OVERSIGHT OF THE AUDIT OR SELECTION OF AN INDEPENDENT ACCOUNTANT FROM THE PRIOR TAX YEAR.