2023-04-26T10:48:01-05:00 2022-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 110 EAST COURT STREET SUITE 500 GREENVILLE SC 29601 990 2021-07-01 570314380 CONVERSE UNIVERSITY CONV 8645969000 580 EAST MAIN STREET SPARTANBURG SC 29302 BOONE HOPKINS PRESIDENT 8645969000 2023-04-20 1 BOONE HOPKINS 999009999 AMANDA ADAMS P00748038 8642333981 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z BOONE HOPKINS 580 EAST MAIN STREET SPARTANBURG SC 29302 72950094 0 X WWW.CONVERSE.EDU X 1889 SC CONVERSE UNIVERSITY IS A LIBERAL ARTS COLLEGE WHICH OFFERS CO-ED UNDERGRADUATE AND GRADUATE DEGREES. CONVERSE ADVANCES A CULTURE OF BELONGING AND COLLABORATION THAT IGNITES CREATIVITY, INNOVATION, AND TRANSFORMATION. 30 30 695 30 0 0 10736013 11950265 21286655 24785754 4485265 5405164 -14154 52176 36493779 42193359 5073551 7833228 0 0 16715842 17126442 0 0 1855081 13551386 16109029 35340779 41068699 1153000 1124660 179052954 167325059 35622365 33620089 143430589 133704970 X THE PRIMARY MISSION OF CONVERSE UNIVERSITY IS A LIBERAL ARTS EDUCATION OF CO-ED UNDERGRADUATE STUDENTS IN A RESIDENTIAL SETTING. STUDENTS PURSUE RICHLY DIVERSE PROGRAMS IN LIBERAL ARTS AND CAREER PREPARATIONS. CONVERSE EMPOWERS STUDENTS TO BECOME TRANSFORMATIVE LEADERS WHO SEE CLEARLY, DECIDE WISELY, AND ACT JUSTLY. TODAY, INNOVATIVE PROGRAMS FOR GRADUATE AND DOCTORAL ADVANCED STUDY COMPLEMENT THE UNDERGRADUATE PROGRAM. ADDITIONALLY, THE CONVERSE COLLEGE FOR WOMEN REAFFIRMS THE FOUNDER'S CONVICTION THAT A SMALL UNDERGRADUATE RESIDENTIAL LIBERAL ARTS COLLEGE IS A UNIQUELY POWERFUL ENVIRONMENT FOR DEVELOPING WOMEN'S TALENTS. 0 0 28621616 5919208 19234434 FOUNDED IN 1889, CONVERSE UNIVERSITY DEVELOPS ADAPTABLE LEADERS WHO ARE EQUIPPED WITH THE CREATIVITY, CHARACTER, KNOWLEDGE AND PERSPECTIVE TO TRANSFORM THE WORLD AROUND THEM. CONSISTENTLY TOP-RANKED BY "U.S. NEWS AND WORLD REPORT", CONVERSE OFFERS CO-EDUCATIONAL UNDERGRADUATE AND GRADUATE PROGRAMS. CONVERSE STUDENTS DEVELOP THEIR UNIQUE VOICES THROUGH A CHALLENGING LIBERAL ARTS CURRICULUM, THE DANIELS CENTER FOR LEADERSHIP AND SERVICE, A CENTURY-OLD HONOR TRADITION, AND A CLOSE-KNIT RESIDENTIAL COMMUNITY. THE UNIVERSITY HAS APPROXIMATELY 1,284 STUDENTS ENROLLED. 5050873 1914020 5551320 CONVERSE UNIVERSITY IS A RESIDENTIAL UNIVERSITY, MEANING ON-CAMPUS LIVING IS A VALUABLE EXPERIENCE WHERE IN AND OUT OF CLASS LEARNING MERGE. FROM HISTORIC CHARM TO MODERN EASE, CONVERSE'S RESIDENCE HALLS OFFER DIVERSE OPTIONS TO SUIT THE NEEDS AND PREFERENCES OF TODAY'S STUDENTS. LIVING IN A RESIDENCE HALL COMMUNITY OFFERS STUDENTS OPPORTUNITIES TO LEARN ABOUT THEMSELVES AND OTHERS. EACH RESIDENCE HALL HAS STUDENT DEVELOPMENT STAFF, PROGRAMMING AND FACILITIES AVAILABLE TO HELP EACH STUDENT. CONVERSE'S RESIDENTIAL COMMUNITIES ARE MORE THAN JUST PLACES TO HANG OUT WHEN STUDENTS AREN'T IN CLASS. THEY ARE WHERE STUDENTS FEEL THE MOST AT HOME AND DEVELOP RELATIONSHIPS WITH PEERS IN A COMMUNITY. 33672489 1 1 0 0 0 0 0 1 1 1 1 1 0 1 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 1639 0 1 695 1 0 0 0 0 0 0 0 0 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X DIANNE CROCKER VP FINANCE ADMIN 8645969028 580 EAST MAIN STREET SPARTANBURG SC 29302 SANDRA MORELLI CHAIR 1.00 X X 0 0 0 WALLACE PRESTWOOD VICE CHAIR 1.00 X X 0 0 0 SANDRA HARTNETT SECRETARY 1.00 X X 0 0 0 PHILIP ASHERMAN TRUSTEE 1.00 X 0 0 0 LAURA BAUKNIGHT TRUSTEE 1.00 X 0 0 0 RANDALL CHAMBERS TRUSTEE 1.00 X 0 0 0 DEBRA CLEMENTS TRUSTEE 1.00 X 0 0 0 RHONDA COKER TRUSTEE 1.00 X 0 0 0 CHRISTOPHER DORRANCE TRUSTEE 1.00 X 0 0 0 KATHERINE FULMER TRUSTEE 1.00 X 0 0 0 PHYLLIS HARRIS TRUSTEE 1.00 X 0 0 0 DR PADRICA HOPKINS TRUSTEE 1.00 X 0 0 0 STEPHEN JOHNSON TRUSTEE 1.00 X 0 0 0 KARLA JONES TRUSTEE 1.00 X 0 0 0 SAMANTHA LARKINS TRUSTEE 0.00 X 0 0 0 LILLIAN LILLY TRUSTEE 1.00 X 0 0 0 JADA MCABEE TRUSTEE 1.00 X 0 0 0 FAIN MCDANIEL TRUSTEE 1.00 X 0 0 0 ERICA MOORE TRUSTEE 1.00 X 0 0 0 AMY MORALES TRUSTEE 1.00 X 0 0 0 LINDA REDDING TRUSTEE 1.00 X 0 0 0 TINA ROHNER TRUSTEE 1.00 X 0 0 0 EMILY RUSHING TRUSTEE 1.00 X 0 0 0 DAVID SMART TRUSTEE 1.00 X 0 0 0 ALLEN SMITH TRUSTEE 1.00 X 0 0 0 LOUIS SMITH TRUSTEE 1.00 X 0 0 0 JULIE STAGGS TRUSTEE 1.00 X 0 0 0 DWIGHT VAN INWEGEN TRUSTEE 1.00 X 0 0 0 ELIZABETH VINGI TRUSTEE 1.00 X 0 0 0 DR KAY WOODWARD TRUSTEE 1.00 X 0 0 0 DR BOONE HOPKINS PRESIDENT 40.00 X 162299 0 10132 KRISTIN LACEY VP FOR OPERATIONS & STRATEGIC PLANNING 40.00 X 133322 0 24055 KRISTA NEWKIRK JD PRESIDENT THRU 7/5/21 40.00 X 132982 0 20516 MICHAEL KENNEDY INTERIM VP FOR PHIL. THRU 6/27/22 40.00 X 117168 0 23584 HOLLY DUNCAN CHIEF COMMUNICATIONS OFFICER 40.00 X 109517 0 23543 DIANNE CROCKER VP FOR FINANCE & BUSINESS 40.00 X 105997 0 15257 LIENNE MEDFORD INTERIM PROVOST 40.00 X 94513 0 8585 JAMIE GRANT VP FOR ENROLLMENT MANAGEMENT 40.00 X 93775 0 8667 DR JEFFREY BARKER PROVOST THRU 7/21/21 40.00 X 86073 0 14221 KRISTA BOFILL VP INST. ADVANCEMENT THRU 8/6/21 40.00 X 93983 0 1966 1129629 0 150526 6 0 1 0 AVI FOOD SYSTEMS INC 2590 ELM RD WARREN OH 44483 DINING SERVICES 1770849 THE BUDD GROUP INC PO BOX 890856 CHARLOTTE NC 282890856 FACILITIES 780305 ROEBUCK WHOLESALE NURSERY & LANDSCAPING PO BOX 1053 ROEBUCK SC 29376 GROUNDS 418394 JENZABAR INC PO BOX 845588 BOSTON MA 02284 SOFTWARE 269430 HARPER CONSTRUCTION 35 WEST COURT STREET SUITE 400 GREENVILLE SC 29601 CONSTRUCTION 253269 19 7344 5415595 6527326 848223 11950265 TUITION AND FEES 611710 18814198 18814198 ROOM AND BOARD 532000 5551320 5551320 SUMMER WORKSHOPS 532000 193281 193281 ALUMNAE/CAMPUS LIFE 900099 184739 184739 42216 42216 24785754 1847601 1847601 443857 408261 35596 35596 35596 33895512 30337949 3557563 3557563 3557563 27105 7344 10525 16580 16580 42193359 24785754 0 5457340 7833228 7833228 951979 286196 517768 148015 13089521 10471617 1963428 654476 271894 217515 40784 13595 1803054 1442443 270458 90153 1009994 807995 151499 50500 28230 28230 87990 87990 303916 303916 1809729 1357297 271459 180973 319248 223474 47887 47887 578670 462935 86801 28934 1261229 1072045 126123 63061 86163 73239 8616 4308 983725 836166 98373 49186 2698003 2293303 269800 134900 528591 528591 FOOD SERVICE 1800311 1530264 180031 90016 REPAIRS/MAINTENANCE 888669 755369 88867 44433 STUDENT PROGRAMS 335570 285235 33557 16778 UPGRADES/RENOVATIONS 311756 264992 31176 15588 4087229 3459176 405775 222278 41068699 33672489 5541129 1855081 8255789 7831818 11330182 11504746 2769123 3395629 435489 326044 643199 587444 285570 296874 112260047 61576835 51140927 50683212 57803992 49462451 29842650 26499802 16546033 16737039 179052954 167325059 2527814 2282270 484773 378725 28518358 27352866 416740 481858 1830111 2148244 1844569 976126 35622365 33620089 X 41115890 41788622 102314699 91916348 143430589 133704970 179052954 167325059 X 1124660 -11932589 1082310 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 0 1 X 92813335 1034331 -8418596 4424622 81004448 77529115 811789 18864643 4392212 92813335 78372082 3049775 307694 4200436 77529115 78739686 1187647 2765229 4320480 78372082 76725203 1092187 5087889 4165593 78739686 0.08690 0.91310 0.00000 0 0 1877496 1877496 85404761 43905757 41499004 24846893 17671078 7175815 130897 130897 50683212 HEDGE FUNDS 20899009 F LIMITED PARTNERSHIPS 5600793 F 26499802 CONTRIBUTIONS RECEIVABLE FROM REMAINDER TRUSTS 10304539 PERPETUAL TRUST HELD BY THIRD PARTY 4396501 MISCELLANEOUS RECEIVABLES 248933 PROPERTY HELD FOR SALE 175000 INTEREST RATE SWAP ASSET 1612066 16737039 POST-RETIREMENT BENEFITS 36844 OBLIGATIONS FROM SPLIT INTEREST AGREEMENTS 114198 REVOLVING PERKINS LOAN LIABILITY 622310 ASSET RETIREMENT OBLIGATION 202774 976126 X 26851393 -11932589 2813747 -9118842 35970235 303916 5919208 6223124 42193359 36577012 1731437 1731437 34845575 303916 5919208 6223124 41068699 PART III, LINE 4: ALL ART WORK IS ON PUBLIC EXHIBIT AND CAN BE VIEWED BY STUDENTS, FACULTY, STAFF AND OTHERS IN THE COMMUNITY. PART IV, LINE 2B: THE UNIVERSITY HOLDS FUNDS IN A CUSTODIAL CAPACITY FOR STUDENT ORGANIZATIONS. PART V, LINE 4: THE INTENDED USES OF CONVERSE UNIVERSITY'S ENDOWMENT FUNDS ARE FOR SCHOLARSHIPS, PROFESSORSHIPS, STUDENT ACADEMIC TRAVEL, STAFF/FACULTY DEVELOPMENT AND EXCELLENCE, THE LIBRARY, BUILDINGS AND EQUIPMENT MAINTENANCE, MINISTRY, AND OTHER ACADEMIC PROGRAMS. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE. PART X, LINE 2: THE UNIVERSITY IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE UNIVERSITY HAS EVALUATED THE EFFECT OF U.S. GAAP GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT BELIEVES THAT THE UNIVERSITY CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION. MANAGEMENT ALSO BELIEVES THAT THERE ARE NO OTHER UNCERTAIN TAX POSITIONS AT JUNE 30, 2022 OR 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 408,261. FUNDRAISING EVENT EXPENSES 10,525. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 2,394,961. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 5,919,208. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 408,261. FUNDRAISING EVENT EXPENSES 10,525. CHANGE IN VALUE OF PERPETUAL TRUST 1,094,265. CHANGE IN VALUE OF REMAINDER TRUST AGREEMENTS 218,386. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 5,919,208. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 CONVERSE UNIVERSITY PRINTS A NONDISCRIMINATORY CLAUSE ON ALL MAJOR PUBLICATIONS, INCLUDING BUT NOT LIMITED TO EMPLOYMENT APPLICATIONS, COURSE CATALOGS, ADMISSION APPLICATIONS, AND THE UNIVERSITY'S WEBSITE, AS REQUIRED BY THE OFFICE OF CIVIL RIGHTS. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FUNDS FROM THE US DEPARTMENT OF EDUCATION AND SOUTH CAROLINA DEPARTMENT OF REVENUE ON BEHALF OF STUDENTS WHO QUALIFY FOR THESE FUNDS. AMOUNTS RECEIVED ARE APPLIED TO THE STUDENT'S ACCOUNT TO COVER TUITION AND FEES. CONVERSE WAS ALSO AWARDED FUNDING FROM THE HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF) THROUGH THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY (THE "CARES") ACT TO PROVIDE EMERGENCY FINANCIAL AID GRANTS TO STUDENTS FOR EXPENSES RELATED TO THE DISRUPTION OF CAMPUS OPERATIONS AND TO COVER EXPENSES ASSOCIATED WITH SIGNIFICANT CHANGES TO THE DELIVERY OF INSTRUCTION DUE TO THE CORONAVIRUS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 12405130 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES TRAVEL ABROAD PROGRAM 84440 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 1720470 0 0 0 0 0 0 14210040 0 14210040 1 0 1 1 1 0 PART I, LINE 3: CONVERSE HAS OWNERSHIP IN VARIOUS FOREIGN ENTITIES AS A RESULT OF ALTERNATIVE INVESTMENTS THAT ARE PART OF ITS INVESTMENT PORTFOLIO. THE AMOUNT REPORTED IN PART I, COLUMN F IS THE FAIR MARKET VALUE OF THE INVESTMENTS HELD AT THE END OF THE YEAR. PART III ACCOUNTING METHOD: VALKYRIES GOLF TOURNAMENT 34449 7344 27105 0 0 5445 0 0 5080 34449 7344 27105 5445 5080 10525 16580 1 GRANTS AND SCHOLARSHIPS TO ATTEND CONVERSE 818 0 5919208 TUITION RATES FINANCIAL AID CARES EMERGENCY GRANTS 547 1914020 PART I, LINE 2: PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS: FINANCIAL AID GUIDELINES ARE UTILIZED TO DETERMINE THE QUALIFICATIONS OF EACH RECIPIENT. THE GUIDELINES ARE PUBLISHED IN CONVERSE'S ACADEMIC CATALOG AND COMPLY WITH ELIGIBILITY REQUIREMENTS PUBLISHED BY THE U.S. DEPARTMENT OF EDUCATION AND THE SOUTH CAROLINA DEPARTMENT OF REVENUE. ANNUAL COMPLIANCE AUDITS ARE COMPLETED BY AN INDEPENDENT ACCOUNTING FIRM. THE GRANTS AND SCHOLARSHIPS ARE APPLIED BY THE FINANCIAL AID DEPARTMENT DIRECTLY AGAINST THE STUDENT'S ACCOUNT. FOR CARES EMERGENCY GRANT AWARDS, FOR ELIGIBLE STUDENTS, THE INDIVIDUAL GRANT AMOUNT RELATED TO THE DISRUPTION BECAUSE OF CORONAVIRUS. THE U.S. DEPARTMENT OF EDUCATION PROVIDED GUIDANCE BASED UPON THE CARES ACT LEGISLATION THAT CONVERSE WAS REQUIRED TO FOLLOW WHEN DISTRIBUTING THE FUNDS. THE DISBURSEMENTS TO INSTITUTIONS OF HIGHER EDUCATION FROM THE FEDERAL GOVERNMENT WERE CALCULATED BASED ON ENROLLMENT AND THE ENROLLMENT OF STUDENTS ELIGIBLE FOR PELL GRANT FUNDS. IN ACCORDANCE WITH THOSE GUIDELINES, CONVERSE DISTRIBUTED THE FUNDS BY NEED AS DETERMINED BY THE EXPECTED FAMILY CONTRIBUTION (EFC) ESTABLISHED ON THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA). GRANTS WERE DETERMINED BASED ON EFC, RESIDENTIAL STATUS, AND THE STUDENT'S STATUS AT CONVERSE. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 DR BOONE HOPKINS PRESIDENT 162299 0 0 0 0 0 3366 0 6766 0 172431 0 0 0 KRISTIN LACEY VP FOR OPERATIONS & STRATEGIC PLANNI 133322 0 0 0 0 0 3081 0 20974 0 157377 0 0 0 KRISTA NEWKIRK JD PRESIDENT THRU 7/5/21 132982 0 0 0 0 0 2762 0 17754 0 153498 0 0 0 PART I, LINE 1A ALL OF MS. NEWKIRK, PRESIDENT'S COMPENSATION PACKAGE WAS WRITTEN IN HER ANNUAL COMPENSATION CONTRACT AND WAS REVIEWED BY THE EXECUTIVE COMMITTEE. THE UNIVERSITY PROVIDED HOUSING AND WEEKLY HOUSEKEEPING SERVICES TO HER FOR THE UNIVERSITY'S CONVENIENCE SO THAT SHE COULD PERFORM ESSENTIAL BUSINESS AND ACTIVITIES AT THE HOME. THESE AMOUNTS WERE NONTAXABLE COMPENSATION AND ARE REPORTED AS SUCH IN SCHEDULE J, PART II, COLUMN D. THE INTERIM PRESIDENT, DR. HOPKINS, DID NOT RECEIVE THESE BENEFITS DURING THE YEAR BEING REPORTED ON. A SC JOBS ECONOMIC DEVELOPMENT AUTHORITY 570960018 000000000 2014-12-19 35410000 CAPITAL IMPROVEMENTS AND REFINANCE 0 0 0 A 7585000 35410000 708200 699449 34002351 2015 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: SC JOBS ECONOMIC DEVELOPMENT AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 12/19/2014 X 38 848223 STOCK PRICE 0 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B IN ORDER TO PROTECT THE PRIVACY OF ITS DONORS, A PUBLIC DISCLOSURE COPY OF THE 990 IS PRESENTED TO THE AUDIT COMMITTEE FOR REVIEW AND APPROVAL AND IS PROVIDED TO THE BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST QUESTIONNAIRES ARE COMPLETED ANNUALLY BY TRUSTEES, OFFICERS, AND KEY EMPLOYEES AND TRANSACTIONS ARE MONITORED BY MANAGEMENT. A BOARD MEMBER DOES RECUSE HIMSELF/HERSELF IN THE EVENT OF A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE REVIEWS THE PRESIDENT'S CONTRACT AND SETS THE COMPENSATION PACKAGE. COMPENSATION DATA IS GATHERED FROM OTHER UNIVERSITIES, PUBLISHED SURVEYS, AND OTHER FORMS 990. THE PRESIDENT ALSO GETS AN EVALUATION FROM THE COMMITTEE. ALL DECISIONS MADE BY THE EXECUTIVE COMMITTEE ARE DISCUSSED IN EXECUTIVE SESSION WITH THE BOARD OF TRUSTEES. THE CHAIRMAN OF THE BOARD OF TRUSTEES GIVES THE VICE PRESIDENT OF FINANCE AND ADMINISTRATION WRITTEN DOCUMENTATION OF THE DISCUSSION AND DECISION OF THE COMPENSATION PACKAGE OF THE PRESIDENT. KEY EMPLOYEES AND OTHER OFFICERS' SALARIES ARE REVIEWED ANNUALLY BY THE PRESIDENT AND THE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION SURVEY IS USED TO HELP DETERMINE THEIR COMPENSATION PACKAGES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, AUDITED FINANCIAL STATEMENTS AND KEY POLICIES ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF REMAINDER TRUST AGREEMENTS -218,386. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 2,394,961. CHANGE IN VALUE OF PERPETUAL TRUST -1,094,265. STANDARD CHARITABLE REMAINDER UNITRUST (4) TRUST SC N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0