2022-05-10T12:06:22-05:00 2021-06-30 560747981 DIXON HUGHES GOODMAN LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2020-07-01 560543261 MONTREAT COLLEGE MONT 8286698012 PO BOX 1267 MONTREAT NC 287570121 JOHN W BEAGHAN VP FOR FINANCE & ADMIN. 8286698012 2022-05-10 1 JOHN BEAGHAN 999009999 AMY BIBBY P00445891 8282542254 2022-05-10 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z PAUL MAURER PO BOX 1267 MONTREAT NC 287570121 39329808 0 X WWW.MONTREAT.EDU X 1947 NC MONTREAT COLLEGE IS AN INDEPENDENT, CHRIST-CENTERED, LIBERAL ARTS INSTITUTION THAT EDUCATES STUDENTS THROUGH INTELLECTUAL INQUIRY, SPIRITUAL FORMATION, AND PREPARATION FOR CALLING AND CAREER. 14 14 371 0 0 0 3597892 12505995 23222910 25547512 -9061 428480 613846 847821 27425587 39329808 8348751 9433666 0 0 8741529 9033997 0 0 665651 10892317 14264311 27982597 32731974 -557010 6597834 29231583 33516300 12465416 9777542 16766167 23738758 X MONTREAT COLLEGE IS AN INDEPENDENT, CHRIST-CENTERED, LIBERAL ARTS INSTITUTION THAT EDUCATES STUDENTS THROUGH INTELLECTUAL INQUIRY, SPIRITUAL FORMATION, AND PREPARATION FOR CALLING AND CAREER. 0 0 15725798 26395333 THE COLLEGE PROVIDES A BROAD, RIGOROUS LIBERAL ARTS CURRICULUM WITH AN EMPHASIS ON TRADITIONAL AND SELECTED UNDERGRADUATE AND GRADUATE PROFESSIONAL DEGREE PROGRAMS, INCLUDING DEGREE PROGRAMS FOR ADULT LEARNERS AND PROGRAMS AT GEOGRAPHICALLY DISTANT LOCATIONS. OUR STATEMENTS OF MISSION, VISION AND FAITH HAVE FORMED THE FOLLOWING EDUCATIONAL OBJECTIVES AT MONTREAT COLLEGE. PLEASE SEE SCHEDULE O FOR A CONTINUATION OF PROGRAM SERVICE ACCOMPLISHMENTS.1.THAT STUDENTS WILL DEVELOP AN INFORMED, BIBLICAL WORLD VIEW INCLUDING THE FOLLOWING: - THE SOVEREIGNTY OF GOD OVER ALL CREATION AND KNOWLEDGE; - A LIFESTYLE OF CHRISTIAN SERVICE TO OTHERS AND THE COMMUNITY; - THE RECOGNITION OF THE INTRINSIC WORTH OF SELF AND ALL PERSONS; - A GENUINE CRITICAL OPENNESS TO THE IDEAS AND BELIEFS OF OTHERS; - THE FORMATION OF VALUES AND ETHICAL REASONING; - AN APPRECIATION FOR WHAT IS BEAUTIFUL, TRUE AND GOOD IN THE ARTS AND LITERATURE; - A RESPECT FOR AND ATTITUDE OF STEWARDSHIP TOWARD THE WHOLE OF CREATION; - AN UNDERSTANDING OF THE PAST AND ITS INTERCONNECTEDNESS WITH THE PRESENT AND FUTURE. 2. THAT STUDENTS WILL DEMONSTRATE EFFECTIVE WRITTEN AND ORAL COMMUNICATION SKILLS. 3. THAT STUDENTS WILL DEMONSTRATE CRITICAL THINKING AND PROBLEM-SOLVING SKILLS. 4. THAT STUDENTS WILL DEMONSTRATE ESSENTIAL COMPUTER INFORMATION SYSTEMS SKILLS. 5. THAT STUDENTS WILL DEMONSTRATE COMPETENCY IN THEIR ACADEMIC MAJORS. 6. THAT STUDENTS WILL DEVELOP INTERPERSONAL AND TEAM SKILLS AND AN UNDERSTANDING AND APPRECIATION OF THEIR PERSONAL STRENGTHS AND WEAKNESSES. 7. THAT STUDENTS WILL BECOME REFLECTIVE AND RESPONSIBLE CITIZENS, EFFECTIVE LEADERS, AND COMMITTED LAITY. 9433666 9433666 TO PROVIDE SCHOLARSHIPS AND SIMILAR FINANCIAL AID. IN TAX YEAR 2020, THERE WERE INSTITUTIONAL AWARDS TO 1,084 STUDENTS. 25159464 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 1 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 55 0 1 371 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X MONTREAT COLLEGE 8286698012 PO BOX 1267 MONTREAT NC 28757 DAVID BRUCE CHAIR 1.00 X X 0 0 0 JEFF HECK VICE CHAIR 1.00 X X 0 0 0 BEAU MOFFATT SECRETARY 1.00 1.00 X X 0 0 0 WILLIAM HAYNES TRUSTEE 1.00 X 0 0 0 NED KISER TRUSTEE 1.00 X 0 0 0 HOWARD EDINGTON TRUSTEE 1.00 X 0 0 0 BEN SCOTT TRUSTEE 1.00 X 0 0 0 BILL SHIPLEY TRUSTEE 1.00 X 0 0 0 BILL DUDLEY TRUSTEE 1.00 X 0 0 0 ALLEN BELL TRUSTEE 1.00 1.00 X 0 0 0 LYNNE VEERMAN TRUSTEE 1.00 X 0 0 0 BOB KLEPPER TRUSTEE 1.00 X 0 0 0 ANNE GANT TRUSTEE 1.00 X 0 0 0 SUZANNE SLOAN TRUSTEE 1.00 X 0 0 0 PAUL MAURER PRESIDENT 50.00 1.00 X 225000 0 54473 JACK HEINEN CFO 50.00 1.00 X 121200 0 7085 JOSEPH KIRKLAND COUNSELOR TO THE PRESIDENT 40.00 X 110000 0 7041 ADAM BRICKER EXEC. DIR. OF CAROLINA CYBER CTR. 40.00 X 173878 0 13530 JAMES TIPPEY ASST. PROFESSOR OF CYBERSECURITY 40.00 X 100553 0 17910 DAVID POOLE NP FOR ADULT & GRADUATE STUDIES 40.00 X 106346 0 13577 836977 0 113616 6 0 1 0 ARAMARK 310 GAITHER CIRCLE MONTREAT NC 28757 DINING SERVICES 1569913 TKC MANAGEMENT SERVICES LLC 4500 CAMERON VALLEY PKWY STE 400 CHARLOTTE NC 28211 FACILITIES MANAGEMENT 953520 212 SOUTH TRYON LMT PARTNERSHIP 440 CHURCH STR STE 80 CHARLOTTE NC 28202 LEASING SERVICES 312383 LIFEWAY RIDGECREST CONF CNTR PO BOX 128 RIDGECREST NC 28770 LEASING SERVICES 220173 MONTREAT RETREAT ASSOCIATION PO BOX 969 MONTREAT NC 28757 LEASING SERVICES 132505 8 144000 5364868 6997127 12505995 TUITION AND FEES 611110 20643324 20643324 AUXILIARY SERVICES 611110 4904188 4904188 25547512 170829 170829 257651 0 257651 257651 257651 CAMPUS STORE 900099 642168 642168 OTHER REVENUE 900099 205653 205653 847821 39329808 26395333 0 428480 X 9433666 9433666 346200 346200 6844669 5298063 1077950 468656 1264607 964042 244978 55587 578521 419194 124658 34669 104290 104290 4915 4915 5472841 4082583 1333435 56823 4035860 2060050 1952282 23528 1380590 1327585 53005 575624 534436 33989 7199 280339 121164 159175 1092046 19469 1072577 250895 7358 243537 BAD DEBT 567741 567741 OTHER EXPENSE 432158 257101 155868 19189 ANNUITIES EXPENSE 67012 67012 32731974 25159464 6906859 665651 4363312 8401868 999404 2214784 1639476 1280502 128828 93412 406311 508103 35468895 21351921 14625330 14116974 3026493 3563436 151254 151254 1460928 1165100 2430247 2020867 29231583 33516300 705359 1873415 1331959 1011885 442230 433642 -2657 -3333 5744485 4418143 2232488 184051 2011552 1859739 12465416 9777542 X 7230509 12515982 9535658 11222776 16766167 23738758 29231583 33516300 X 6597834 331645 43112 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 0 0 0 9220997 131321 1002328 199341 10155305 9001056 54532 330456 165047 9220997 8794378 67071 373967 234360 9001056 8468046 51122 484510 209300 8794378 8133393 59443 484510 209300 8468046 1.00000 0 1 1 3385206 3385206 6317412 4897566 1419846 20198728 12126648 8072080 5371464 4194666 1176798 196085 133041 63044 14116974 DUE FROM FOUNDATION 2020867 2020867 ANNUITIES PAYABLE 639432 CAPITAL LEASE OBLIGATION 142870 ASSET RETIREMENT OBLIGATION 355000 STUDENT DEPOSITS 722437 1859739 X PART III, LINE 4: THE FINE ARTS COLLECTION EXISTS TO SUPPORT THE GENERAL MISSION OF THE COLLEGE BY PROMOTING AWARENESS AND UNDERSTANDING OF A BROAD SPECTRUM OF ARTISTIC EXPRESSION. AS UNIQUE EXPRESSIONS OF THE HUMAN CONDITION, WORKS IN THE COLLECTION INVIGORATE LEARNING AND TEACHING AND PROVIDE EXPANDED OPPORTUNITIES FOR STUDY, RESEARCH, AND INDIVIDUAL BELIEFS. THE ART CONTRIBUTES TO THE OVERALL EDUCATIONAL AND CULTURAL FUNCTIONS OF THE COLLEGE AND BY OBSERVATIONS, THE EXHIBITIONS OF THE WORKS CONTINUE TO SUPPORT THE CURRICULAR OFFERINGS IN ART EDUCATION AND BIBLICAL STUDIES, PROVIDE AESTHETIC STIMULATION TO VIEWERS, AND ENHANCE EXPERIENCE FOR THE CAMPUS AREA COMMUNITY. PART V, LINE 4: THE ORGANIZATION'S INTENDED USE OF ENDOWMENT FUNDS IS TO INVEST THE ENDOWMENT ASSETS IN AN ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY THE ENDOWMENTS WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ASSETS. PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS RULED THAT THE ORGANIZATION QUALIFIES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS, THEREFORE, NOT GENERALLY SUBJECT TO INCOME TAXES UNDER PRESENT TAX LAWS. MANAGEMENT BELIEVES THAT ANY INCOME TAX LIABILITY RESULTING FROM UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2021 AND 2020 WOULD NOT HAVE A SIGNIFICANT IMPACT ON THE ORGANIZATION'S RESULTS OF ACTIVITIES. CERTAIN SUBSIDIARIES OF THE ORGANIZATION ARE TAXED AS SEPARATE ENTITIES. THE ORGANIZATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF JUNE 30, 2021. 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 RACIALLY NONDISCRIMINATORY POLICY IS MADE KNOWN TO THE COMMUNITY AS DESCRIBED IN NUMBER 3 ABOVE. THE POLICY IS ALSO INCLUDED IN THE FACULTY AND EMPLOYEE HANDBOOKS. SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES FEDERAL FINANCIAL AID FOR STUDENTS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS INVESTMENTS 127065 0 0 0 0 0 0 127065 0 127065 0 0 0 0 0 0 PART I, LINE 2: THE ORGANIZATION UTILIZES AN INVESTMENT BROKER TO MONITOR FOREIGN INVESTMENTS. PART III ACCOUNTING METHOD: 1 SCHOLARSHIPS 1084 9433666 FMV PART I, LINE 2: DEPENDING ON THE REQUIREMENTS OF THE FUND SOURCES, FINANCIAL AID AND ALL TITLE IV AND STATE REGULATIONS ARE MONITORED, RECONCILED AND FOLLOWED DAILY BY TRAINED AND EXPERIENCED PROFESSIONAL STAFF THAT STAY UP TO DATE ON ANY CHANGES IN REGULATION THOUGH PROFESSIONAL DEVELOPMENT TRAINING. X 0 0 X X X 0 0 0 0 0 0 0 0 0 PAUL MAURER PRESIDENT 225000 0 0 0 0 0 0 0 54473 0 279473 0 0 0 ADAM BRICKER EXEC. DIR. OF CAROLINA CYBER CTR. 173878 0 0 0 0 0 0 0 13530 0 187408 0 0 0 PART I, LINE 1A THE ORGANIZATION PROVIDED THE PRESIDENT WITH A HOUSING ALLOWANCE AS PART OF HIS EMPLOYMENT AND RESPONSIBILITIES AS SERVING AS THE COLLEGE PRESIDENT. THE ESTIMATED VALUE OF THESE SERVICES ARE $36,000. PART I, LINE 3 THE ORGANIZATION USES COMPARABILITY DATA FROM FORMS 990 OF OTHER SIMILAR ORGANIZATIONS AND FROM A COMPENSATION STUDY TO DETERMINE THE SALARIES FOR THE PRESIDENT/CEO AND OTHER OFFICERS. THE PRESIDENT/CEO'S SALARY IS DETERMINED AND APPROVED BY THE INDEPENDENT BOARD OF DIRECTORS ANNUALLY AFTER REVIEWING COMPARABILITY DATA. FORM 990, PART VI, SECTION A, LINE 3 FOOD SERVICES MANAGEMENT WAS PROVIDED BY ARAMARK AND RISK MANAGEMENT WAS PROVIDED BY EIIA. FORM 990, PART VI, SECTION B, LINE 11B COPIES OF THE 990 WERE PRESENTED TO THE ENTIRE BOARD OF TRUSTEES FOR THEIR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C A TRUSTEE SHALL BE CONSIDERED TO HAVE A CONFLICT OF INTEREST IF (A) SUCH TRUSTEE HAS EXISTING OR POTENTIAL FINANCIAL OR OTHER INTEREST WHICH IMPAIR OR MIGHT REASONABLY APPEAR TO IMPAIR SUCH MEMBER'S INDEPENDENT, UNBIASED JUDGMENT IN THE DISCHARGE OF THE TRUSTEE'S RESPONSIBILITIES TO THE COLLEGE OR (B) SUCH TRUSTEE IS AWARE THAT A MEMBER OF THE TRUSTEE'S FAMILY, OR ANY ORGANIZATION IN WHICH SUCH TRUSTEE (OR MEMBER OF THE TRUSTEE'S FAMILY) IS AN OFFICER, DIRECTOR, EMPLOYEE, MEMBER, PARTNER, TRUSTEE, OR CONTROLLING STOCKHOLDER, HAS SUCH EXISTING OR POTENTIAL FINANCIAL OR OTHER INTERESTS. ALL TRUSTEES SHALL DISCLOSE TO THE BOARD ANY POSSIBLE CONFLICT OF INTEREST AT THE EARLIEST PRACTICAL TIME. FURTHERMORE, THE TRUSTEE SHALL ABSENT HIMSELF/HERSELF FROM DISCUSSIONS OF, AND ABSTAIN FROM VOTING ON, SUCH MATTERS UNDER CONSIDERATION BY THE BOARD OF TRUSTEES OR ITS COMMITTEES. THE MINUTES OF SUCH MEETINGS SHALL REFLECT THAT A DISCLOSURE WAS MADE AND THAT THE TRUSTEE HAVING A CONFLICT OR POSSIBLE CONFLICT ABSTAINED FROM VOTING. ANY TRUSTEE WHO IS UNCERTAIN WHETHER A CONFLICT OF INTEREST MAY EXIST IN ANY MATTER MAY REQUEST THE BOARD OR COMMITTEE TO RESOLVE THE QUESTION IN THE TRUSTEE'S ABSENCE BY MAJORITY VOTE. EACH TRUSTEE SHALL COMPLETE AND SIGN A DISCLOSURE FORM PROVIDED ANNUALLY BY THE SECRETARY OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION USES COMPARABILITY DATA FROM FORMS 990 OF OTHER SIMILAR ORGANIZATIONS AND FROM A COMPENSATION STUDY TO DETERMINE THE SALARIES FOR THE PRESIDENT/CEO AND OTHER OFFICERS. THE PRESIDENT/CEO'S SALARY IS DETERMINED AND APPROVED BY THE INDEPENDENT BOARD OF DIRECTORS ANNUALLY AFTER REVIEWING COMPARABILITY DATA. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION'S FORM 990 IS MADE AVAILABLE TO THE PUBLIC UPON REQUEST. RECENT COPIES OF THE FORM ARE ALSO AVAILABLE ON GUIDESTAR.ORG. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 4,082,583. MANAGEMENT AND GENERAL EXPENSES 1,333,435. FUNDRAISING EXPENSES 56,823. TOTAL EXPENSES 5,472,841. FORM 990, PART XI, LINE 9: ADJUSTMENT TO NET ASSETS FROM PRIOR YEAR - INTERCOMPANY 43,112. PART XII, LINE 2C THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. MONTREAT COLLEGE FOUNDATION PO BOX 1267 MONTREAT NC 28757 561324199 TO SUPPORT THE EDUCATIONAL PURPOSE OF MONTREAT COLLEGE NC 501(C)(3) 12, TYPE II MONTREAT COLLEGE 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 MONTREAT COLLEGE FOUNDATION C 144000 FMV