2022-04-04T13:19:15-05:00 2021-05-31 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 900 CHARLOTTE NC 28204 990 2020-06-01 560532297 BREVARD COLLEGE CORPORATION BREV 8288848219 ONE BREVARD COLLEGE DRIVE BREVARD NC 287123306 DR BRADLEY J ANDREWS PRESIDENT 8288848219 2022-03-28 1 DR BRADLEY J ANDREWS 999009999 AMANDA ADAMS P00748038 7043771678 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z DR BRADLEY J ANDREWS ONE BREVARD COLLEGE DRIVE BREVARD NC 287123306 46600659 0 X WWW.BREVARD.EDU X 1934 NC TO PROVIDE AN EXPERIENTIAL LIBERAL ARTS EDUCATION. 28 28 636 463 0 0 4816369 5550092 26757551 27509587 652418 1762135 168168 92882 32394506 34914696 12463325 12887660 0 0 10873476 11146926 0 0 289547 8429725 8427274 31766526 32461860 627980 2452836 65903199 80220502 16253582 21322202 49649617 58898300 BREVARD COLLEGE IS COMMITTED TO AN EXPERIENTIAL LIBERAL ARTS EDUCATION THAT ENCOURAGES PERSONAL GROWTH AND INSPIRES ARTISTIC, INTELLECTUAL, AND SOCIAL ACTION. 0 0 23012461 12887660 21813371 BREVARD COLLEGE IS A BACCALAUREATE-AWARDING INSTITUTION COMMITTED TO A RESIDENTIAL LIBERAL ARTS EDUCATION THAT ENCOURAGES PERSONAL GROWTH AND INSPIRES ARTISTIC, INTELLECTUAL AND SOCIAL ACTION. BREVARD IS ACCREDITED BY THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS-COMMISSION ON COLLEGES; THE NATIONAL ASSOCIATION OF SCHOOLS OF MUSIC; AND THE TEACHER EDUCATION ACCREDITING COUNCIL. DURING FISCAL YEAR 2021, INSTRUCTION WAS PROVIDED TO 767 STUDENTS. 730 STUDENTS WERE U.S. CITIZENS WITH 435 RESIDING IN HOUSEHOLDS FROM NC. THE STUDENT BODY REPRESENTS STUDENTS FROM 27 U.S. STATES AND 11 FOREIGN COUNTRIES. BREVARD COLLEGE HAS BEEN NAMED ONE OF THE BEST VALUE SCHOOLS IN NC AND HAS ALSO BEEN LISTED BY U.S. NEWS & WORLD REPORT AS ONE OF THE BEST REGIONAL COLLEGES IN THE SOUTH FOR 2021. 3382568 5696016 A BREVARD COLLEGE EDUCATION EXTENDS FAR BEYOND THE WALLS OF A CLASSROOM. OF THE COLLEGES 767 STUDENTS, 614 TOOK PART IN THE RESIDENTIAL EDUCATION EXPERIENCE. ALL OF THE FACILITIES ON THE BREVARD COLLEGE CAMPUS ARE JUST A SHORT WALK OR BIKE AWAY. THIS DESIGN ALLOWS STUDENTS TO FOCUS ON EDUCATION, GROWTH AND FUN WITHOUT THE HASSLE OF THE RUSHING FROM PLACE TO PLACE. THE RELAXED ATMOSPHERE OF COMFORTABLE LIVING AND DINING SPACES ARE COMPLEMENTED WITH THE STATE-OF-THE-ART EDUCATION FACILITIES INCLUDING A MODERN LIBRARY AND A WORLD-CLASS CONCERT HALL. 26395029 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 0 0 1 1 0 1 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 1 96 0 1 636 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 28 28 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NC X DR BRADLEY J ANDREWS 8288848264 ONE BREVARD COLLEGE DRIVE BREVARD NC 28712 BARBARA A HULSEY CHAIR 1.00 X X 0 0 0 W HEATHLEY WELDON VICE-CHAIR 1.00 X X 0 0 0 J PHILLIP JEROME SECRETARY 1.00 X X 0 0 0 TIMOTHY J BAILEY DIRECTOR 1.00 X 0 0 0 DR BETSY O BAREFOOT DIRECTOR 1.00 X 0 0 0 DR B BARBARA BOERNER DIRECTOR 1.00 X 0 0 0 DR JOHN S BOGGS DIRECTOR 1.00 X 0 0 0 ISSAC BRADLEY DIRECTOR 1.00 X 0 0 0 DR DOUGLAS BRINKLEY DIRECTOR 1.00 X 0 0 0 RONALD L BURGESS JR DIRECTOR 1.00 X 0 0 0 JOE DEPIPPO DIRECTOR 1.00 X 0 0 0 ART FISHER DIRECTOR 1.00 X 0 0 0 CALVIN HARRELSON III DIRECTOR 1.00 X 0 0 0 REGINALD D HEINITSH JR DIRECTOR 1.00 X 0 0 0 CHARLES HENLEY DIRECTOR 1.00 X 0 0 0 RICHARD JACOBS DIRECTOR 1.00 X 0 0 0 A EDWIN JONES DIRECTOR 1.00 X 0 0 0 W BRADLEY LAKESON JR DIRECTOR 1.00 X 0 0 0 DR MARK LEMEL DIRECTOR 1.00 X 0 0 0 BARBARA M NESBITT DIRECTOR 1.00 X 0 0 0 LEIGH ANN PICKUP DIRECTOR 1.00 X 0 0 0 ALFRED F PLATT JR DIRECTOR 1.00 X 0 0 0 CONNELL STAFFORD DIRECTOR 1.00 X 0 0 0 JERRY STONE DIRECTOR 1.00 X 0 0 0 BETTY O TAYLOR DIRECTOR 1.00 X 0 0 0 DONA D VAUGHN DIRECTOR 1.00 X 0 0 0 W GIL WEST DIRECTOR 1.00 X 0 0 0 MICHAEL WHITEHEAD DIRECTOR 1.00 X 0 0 0 DAVID JOYCE PRESIDENT 40.00 X 227757 0 26045 JUAN MASCARO VP FINANCE & OPS/CFO 40.00 X 103044 0 24207 CHAD HOLT VP ADMISSIONS & FINANCIAL 40.00 X 116913 0 12609 KATHRYN HOLTEN VP ALUMNI AFFAIRS 40.00 X 100214 0 10410 SCOTT SHEFFIELD VP ACADEMIC AFFAIRS 40.00 X 104624 0 13561 652552 0 86832 5 0 1 0 GENTRY SERVICE GROUP LLC 100 BUCKEYE ACCESS ROAD SWANNANOA NC 28778 HVAC 633918 SYSCO PO BOX 96 CONCORD NC 28026 FOOD SERVICE 392933 JENZABAR INC PO BOX 55018 BOSTON MA 02205 COMPUTER SERVICES 344717 CANNON ROOFING PO BOX 3030 SPARTANBURG SC 29304 CONSTRUCTION 289679 CREDO DESIGN ARCHITECTS 940 GOLF HOUSE ROAD W 200 WHITSETT NC 27377 ARCHITECTS 202229 10 2199855 3350237 225268 5550092 TUITION AND FEES 611310 21667504 21667504 AUXILIARY SERVICES 611310 5696216 5696216 OTHER PROGRAM FEES 611310 145867 145867 27509587 593034 593034 12457898 378000 11455129 211668 1002769 166332 1169101 1169101 112248 19166 93082 93082 DISTRIBUTION FROM SUBSIDIARY 900099 3892 3892 LOSS OF SUBSIDIARY 900099 -4092 -4092 -200 34914696 27509387 0 1855217 12887660 12887660 365661 282799 73747 9115 8731180 6752626 1760907 217647 1383690 107558 1271360 4772 666395 515401 133568 17426 21451 21451 104020 104020 116277 116277 827540 458828 368364 348 1365052 1105496 232056 27500 1768470 1338931 429539 207594 203488 3524 582 525677 210584 315093 1932743 1764981 167762 DUES & SUBSCRIPTIONS 658917 253449 393413 12055 899533 513228 386203 102 32461860 26395029 5777284 289547 2100 1600 8661825 10567140 161900 116336 853431 809076 225261 194739 137780 151152 67101979 32739992 29325406 34361987 22939904 29634036 2890254 3547944 19526 685812 836492 65903199 80220502 2137500 2155056 438203 6021730 5909421 18094468 1746728 1072678 16253582 21322202 X 17202022 17478799 32447595 41419501 49649617 58898300 65903199 80220502 X 2452836 6284916 510931 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 67500 X X 0 29304293 1920517 7826694 1257919 37793585 29185259 505658 1195973 1582597 29304293 29744372 409309 278200 1246622 29185259 25336006 3676313 1926112 1194059 29744372 22532687 1405379 2582370 1184430 25336006 0.03400 0.96600 0.00000 0 0 408314 408314 50282944 28028429 22254515 6944370 3409926 3534444 9466351 1301637 8164714 34361987 ANNUITIES PAYABLE 164757 CAPITAL LEASE PAYABLE 36610 ASSET RETIREMENT OBLIGATION 727396 REFUNDABLE FEDERAL GOVERNMENT ADVANCES 143915 1072678 PART III, LINE 4: TWO OF THE KEY MAJORS AT THE COLLEGE ARE ART AND MUSIC. THE ART COLLECTIONS ARE USED IN CLASSES AND ARE ALSO PART OF THE ACADEMIC CULTURE. PART V, LINE 4: THE ENDOWMENT FUNDS ARE USED TO SUPPORT THE INSTITUTION IN PERPETUITY FOR SCHOLARSHIPS, LECTURESHIPS AND VARIOUS OTHER OPERATIONS AND BUILDINGS ON CAMPUS. 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. 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'S NON-DISCRIMINATION POLICY IS STATED IN ALL MAJOR PUBLICATIONS AND THE TRANSYLVANIA TIMES. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVED STUDENT FINANCIAL AID GRANTS FROM THE U.S. DEPARTMENT OF EDUCATION, THE U.S. SMALL BUSINESS ADMINISTRATION, AND THE NC STATE EDUCATION ASSISTANCE AUTHORITY. EUROPE 0 0 INVESTMENTS 1994535 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 1553409 0 0 0 0 0 0 3547944 0 3547944 0 0 1 1 0 0 PART I, LINE 3: THE AMOUNT REPORTED IN PART I, LINE 3 REPRESENTS THE FAIR MARKET VALUE OF FOREIGN INVESTMENTS HELD AT THE END OF THE YEAR. PART III ACCOUNTING METHOD: GOLF TOURNAMENT 25500 25500 100 2969 2670 3638 291 GALA 86748 86748 9498 112248 112248 100 2969 2670 3638 9789 19166 93082 1 STUDENT AID 762 12502010 TUITION RATES TUITION ASSISTANCE STUDENT AID PROVIDED BY CARES ACT 342 385650 PART I, LINE 2: FINANCIAL AID IS AVAILABLE TO STUDENTS WHO CAN SHOW FINANCIAL NEED, ACADEMIC ACHIEVEMENT, LEADERSHIP/SERVICE, ATHLETICS ABILITY, AND/OR TALENT. ACADEMIC AND LEADERSHIP AWARDS ARE DETERMINED THROUGH THE ADMISSIONS AREA, ATHLETICS AWARDS ARE DETERMINED BY THE RESPECTIVE COACH, TALENT/DEPARTMENTAL AWARDS ARE DETERMINED THROUGH THOSE ACADEMIC AREAS, AND THE FINANCIAL AID OFFICE COORDINATES ALL AWARDS WITH FEDERAL, STATE AND INSTITUTIONAL NEED-BASED AID. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 DAVID JOYCE PRESIDENT 217197 0 0 0 10560 0 4622 0 21423 0 253802 0 0 0 PART I, LINE 1A THE PRESIDENT WAS PROVIDED A MEMBERSHIP AT A LOCAL COUNTRY CLUB TO BE USED FOR FUNDRAISING ACTIVITIES AND OTHER COLLEGE BUSINESS. USE OF THE MEMBERSHIP IS SUBSTANTIATED. LASTLY, THE COLLEGE PROVIDES HOUSING AND WEEKLY HOUSEKEEPING SERVICES TO THE PRESIDENT FOR THE CONVENIENCE OF THE EMPLOYER SO THAT THE PRESIDENT CAN PERFORM ESSENTIAL COLLEGE BUSINESS AND ACTIVITIES AT THE HOME. BOTH BENEFITS SERVE A BUSINESS PURPOSE OF THE COLLEGE AND THEREFORE ARE NOT TREATED AS TAXABLE. X 1 FMV X 2708 FMV X 17 193690 AVG. TRADING VALUE X PIANO, DRUMS, AND ELECTRONIC EQUIPMENT 3 26408 COST X VINYL TILE 1 2161 COST X ROCKING CHAIRS 1 300 COST 0 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE OF THE BOARD REVIEWED FORM 990 PRIOR TO ITS FILING WITH THE IRS. AFTER THE AUDIT COMMITTEE FINALIZED ITS REVIEW AND OFFICIALLY ACCEPTED THE FORM 990, A COPY OF THE PUBLIC DISCLOSURE COPY WAS MADE AVAILABLE TO ALL BOARD MEMBERS. BOARD MEMBERS WERE PROVIDED AN OPPORTUNITY TO COMMENT ON THE FORM PRIOR TO ITS FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE MEMBERS OF THE BOARD OF TRUSTEES AND OFFICERS ARE REQUIRED TO SIGN A COPY OF THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS. IN THE EVENT A TRUSTEE HAS A POTENTIAL CONFLICT DURING THE YEAR, THAT TRUSTEE WOULD RECUSE HIMSELF/HERSELF FROM ANY DISCUSSION OR VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS ADOPTED BY THE PRESIDENT'S COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES FOR ITS ANNUAL DETERMINATION OF THE COMPENSATION OF THE PRESIDENT IS AS FOLLOWS: BY THE END OF THE WINTER BOARD OF TRUSTEES' MEETING, THE BOARD WILL ADVISE THE PRESIDENT WHETHER HIS OR HER CONTRACT WILL BE RENEWED. BY APRIL 1ST, THE PRESIDENT WILL SUBMIT A SELF-ASSESSMENT TO THE COMPENSATION COMMITTEE RESPONDING TO EACH OBJECTIVE. BY MAY 1ST, THE COMPENSATION COMMITTEE WILL REVIEW THE REPORT, COMMUNICATE ITS FEEDBACK TO THE PRESIDENT, AND ISSUE A REPORT AND PRESIDENTIAL SALARY AND BENEFITS RECOMMENDATION TO THE EXECUTIVE COMMITTEE. THE COMPENSATION COMMITTEE WILL USE AT LEAST TWO SOURCES OF COMPARABLE DATA TO DETERMINE THE APPROPRIATE SALARY AND BENEFITS. THOSE SOURCES ARE GENERALLY THE ANNUAL COMPENSATION REPORTS OF THE AGB (ASSOCIATION OF GOVERNING BOARD) AND THE NCICU (NORTH CAROLINA INDEPENDENT COLLEGES AND UNIVERSITIES). HOWEVER, SIMILAR SOURCES MAY BE USED AS ALTERNATIVES FROM TIME TO TIME. DOCUMENTATION OF THE COMPARABLE DATA USED WILL BE PART OF THE PERMANENT FILE SUBSTANTIATING COMPENSATION. THE EXECUTIVE COMMITTEE WILL MAKE A FINAL DECISION ABOUT THE PRESIDENT'S SALARY BEFORE THE SPRING BOARD OF TRUSTEES MEETING FOR FINAL APPROVAL BY THE BOARD DURING THE SPRING MEETING. WITH REGARDS TO SENIOR STAFF, MARKET DATA FROM THE NORTH CAROLINA INDEPENDENT COLLEGES AND UNIVERSITIES ON ADMINISTRATIVE SALARIES WILL BE REVIEWED BY THE PRESIDENT. THE PRESIDENT WILL ADVISE THE BOARD WHO WILL APPROVE COMPENSATION FOR THE SENIOR STAFF. ADDITIONALLY, THE COLLEGE RECENTLY PARTICIPATED IN A WAGE STUDY THROUGH AGB AND THAT DATA IS AVAILABLE TO CONFIRM WAGES OF THE PRESIDENT AND OTHER KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: PRESENT VALUE ADJUSTMENTS TO ANNUITIES PAYABLE 360,251. CHANGE IN VALUE OF CHARITABLE TRUSTS 150,680. BREVARD COLLEGE REAL ESTATE LLC ONE BREVARD COLLEGE DRIVE BREVARD NC 28712 560532297 REAL ESTATE HOLDING COMPANY NC 4548 2052432 BREVARD COLLEGE VALLEY AUTO SALES INC ONE BREVARD COLLEGE DRIVE BREVARD NC 28712 560711072 HOLDING COMPANY NC BREVARD COLLEGE REAL ESTATE LLC C 10690 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0