2022-01-12T14:14:23-06:00 2021-06-30 363990892 Capin Crouse LLP 125 Lakes Parkway Suite 130 Lawrenceville GA 30043 990 2020-07-01 580685908 Toccoa Falls College Inc TOCC 7068866831 107 Kincaid Drive Toccoa Falls GA 305980013 Dee Mooney VP for Finance 7068866831 2022-01-12 1 Dee Mooney 999009999 Ted R Batson Jr P00721951 6785185301 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z Dr Robert M Myers 107 Kincaid Drive Toccoa Falls GA 305980013 27149104 0 X https://tfc.edu X 1911 GA Christian undergraduate and graduate education with residential & non-residential offerings. 16 15 594 40 28182 14658 1146081 3715914 24183536 21178277 286056 -101085 366802 255215 25982475 25048321 7277732 5236280 0 0 9712920 9564672 0 0 419823 6985083 6853141 23975735 21654093 2006740 3394228 32471724 33297372 8507044 5367000 23964680 27930372 The mission of Toccoa Falls College is to glorify God through seeking and developing Christian servant leaders who will impact their world with the love and message of Jesus Christ. 0 0 19111210 5236280 21138607 Toccoa Falls College offers undergraduate programs in 32 majors and 41 minors to approximately 2,200 residential, commuter, and online students, as well as two graduate programs. The College provides the campus community with food services, residential housing, and a college gift shop. Also, Toccoa Falls College offers student counseling, student activities and student government, intramural recreation, and various other student experiences as co-curricular to their academic experience. 19111210 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 0 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 1 979 0 1 594 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 16 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 GA X Dee Mooney 7068866831 107 Kincaid Drive Toccoa Falls GA 305980013 John Allen Chairman 1.00 X X 23841 0 0 Janet Webb Vice Chairwoman 1.00 X X 0 0 0 Jeffery Norris Secretary 1.00 X X 0 0 0 David Fugett Trustee 1.00 X 0 0 0 David Smith Trustee 1.00 X 0 0 0 Floyd Wheeler Trustee 1.00 X 0 0 0 George Woerner Trustee 1.00 X 0 0 0 Debra D Ferrell Trustee 1.00 X 0 0 0 Michael D Noel Trustee 1.00 X 0 0 0 Lantzia C Thao Trustee 1.00 X 0 0 0 Sheila Ray Trustee 1.00 X 0 0 0 Phil Hagar Trustee 1.00 X 0 0 0 Ron Cantrell Trustee 1.00 X 0 0 0 Mark Herndon Trustee 1.00 X 0 0 0 T Edwin Mangham Trustee 1.00 X 0 0 0 C David Markle Trustee 1.00 X 0 0 0 Robert Myers President 40.00 X 262417 0 37045 Dee Mooney VP for Finance 40.00 X 116641 0 24336 Kieran Clements VP of Academic Affairs 40.00 X 103487 0 29152 506386 0 90533 3 0 1 0 Chartwells Dining Services PO Box 417632 Boston MA 022417632 Food Services 1254225 Ron Cantrell Construction PO Box 864 Cleveland GA 30528 Construction Services 341345 Capital Roofing 1040 N Main Plaza Dr Cornelia GA 30531 Roofing Services 266730 Clark Communications 2 Westside Drive Asheville NC 28806 Printing/Mailing 129688 4 2877230 838684 84305 3715914 Tuition and fees 900099 17311018 17311018 Auxiliary enterprises 900099 3764874 3725204 39670 Conference fees 900099 102385 102385 21178277 159315 159315 112507 17002 145749 1344 -33242 15658 -17584 -17584 1663596 29694 1580877 372813 82719 -343119 -260400 -260400 272799 6096 266703 272799 25048321 21138607 28182 165618 5236280 5236280 586263 151181 435082 7100182 6540805 478485 80892 156352 144073 9909 2370 1228328 1025514 169475 33339 493547 449128 39483 4936 32937 32937 64191 64191 279277 191666 72587 15024 219727 50950 168777 655732 338088 241711 75933 357529 178764 178765 1442752 1329794 101134 11824 158382 152194 3686 2502 182578 169411 11652 1515 779561 730313 42716 6532 193465 38109 155356 Campus Food Service 1367752 1367752 Repairs and Maintenance 473112 413902 55554 3656 Student Aid Expense 2100 2100 644046 601186 30337 12523 21654093 19111210 2123060 419823 58250 1917808 8253556 8809135 248308 261023 133574 103639 434374 538527 30967221 14878931 16812448 16088290 3425774 5315871 2821975 81780 82351 69976 201114 111323 32471724 33297372 758739 917835 636940 449440 4554702 3645379 1823700 732963 354346 8507044 5367000 X 18292328 21072879 5672352 6857493 23964680 27930372 32471724 33297372 3394228 571464 0 X 0 1 X 1 1 1 X 1604792 1077469 1020043 1146081 3715914 8564299 1604792 1077469 1020043 1146081 3715914 8564299 54621 8509678 87959 117740 140741 274531 159315 780286 49135 6313 55448 236364 405945 474180 285748 266703 1668940 11068973 110813682 0.76880 0.67220 X Schedule A, Part II, Line 10, Explanation of Other Income: Miscellaneous - 2016 Amount: $ 236,364. 2017 Amount: $ 405,945. 2018 Amount: $ 474,180. 2019 Amount: $ 285,748. 2020 Amount: $ 266,703. Schedule A, Part II: The organization is a school as described under 170(b)(1)(A)(ii) and is not required to complete a public support schedule. Schedule A, Part II is completed to verify the School can qualify under public charity status section 170(b)(1)(A)(vi) and qualifies to use the first listed special rule for Schedule B reporting. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 38500 X 0 3295584 27075 652542 14324 3960877 3267691 8697 51596 32400 3295584 3092821 42222 132648 3267691 2834401 246545 95120 83245 3092821 2650806 63000 204968 84373 2834401 1.00000 1 0 2777759 2777759 20494327 10311134 10183193 5047939 3699886 1348053 2647196 867911 1779285 16088290 Student deposits 354346 354346 21011838 571464 147093 718557 20293281 4755040 4755040 25048321 17046146 147093 147093 16899053 4755040 4755040 21654093 Part III, Line 4: The collection is a set of Audobon prints which are being held on display in the outdoor education center. Part V, Line 4: Primarily scholarships. Sch. D, Part V, Lines 2a-2c In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 6/30/2021. The Form 990 and its associated schedules were not updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Schedule D, Part V, Lines 2a-2c: Line 2a - Without donor restrictions Line 2b - With donor restrictions Part XI, Line 2d - Other Adjustments: Rental Expenses 147,093. Part XI, Line 4b - Other Adjustments: Student Aid 4,755,040. Part XII, Line 2d - Other Adjustments: Rental Expenses 147,093. Part XII, Line 4b - Other Adjustments: Student Aid 4,755,040. 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 nondiscriminatory policy is clearly communicated on the College's website homepage. It is also communicated with prospective students through College publications, catalog, and the downloadable Student Handbook. Schedule E, Part I, Line 6 Toccoa Falls College received federal awards restricted for financial aid as well as Paycheck Protection Program Loan Forgiveness, Higher Education Emergency Relief Fund, Federal Supplemental Educational Opportunity Grants and Work Study. The monies are awarded through federal programs and are required to comply with various regulations related to those funding programs. 1 Scholarships 772 4755040 HEERF Grants 461 481240 Part I, Line 2: The financial aid planning office at Toccoa Falls College requires students to complete the Free Application for Federal Student Aid (FAFSA) form to determine eligibility for federal, state and institutional grants, scholarships and loans. This is an equitable formula that measures all assets consistently. In addition to this form, the College does require some other guidelines in the event that funds are offered based upon certain academic credentials or performance in a College sponsored activity or athletic event. These credentials are clearly stated in the College catalog and the College website. Enrollment and eligibility are monitored by the College to ensure students remain eligible for funds awarded. Scholarships are applied directly to the student accounts. HEERF Grants were awarded to eligible students in accordance with HEERF requirements and guidelines. X 1 1 X X X 0 0 0 0 0 0 0 1 0 Robert Myers President 225912 0 30617 0 5888 0 11504 0 25649 0 299570 0 0 0 Part I, Line 1a Robert Myers, President, receives housing expense reimbursement. This is approved by the board of trustees and treated as taxable compensation. Part I, Line 7 Non-fixed payments for the FY included bonus of 2% of base compensation/all employees; board-approved bonus to President of $20,000, $6,000 taxable housing expense reimbursement to President; $7,596 combined personal use auto to President and VP-Academics; tuition discount to grandchildren of Board Chairman. X 1 84305 Selling Price 0 0 0 0 Part I, Column (b): The number of contributions represent the number of contributions received, not the number of items donated. Form 990, Part VI, Section A, line 1 The Executive Committee of the trustees consists of the officers of the trustees and the chairmen of the standing committees. It is empowered to transact business for the board of trustees in its regular meetings and to transact such other business as necessary between regularly scheduled meetings of the board of trustees. Form 990, Part VI, Section B, line 11b The Form 990 is prepared by an independent CPA firm and reviewed in detail by top management at the College. A copy of the Form 990 is provided to board members prior to filing with the IRS. Form 990, Part VI, Section B, line 12c Conflict of interest questionnaires are signed annually by each board member, officer and cabinet member. The signed statements are reviewed by either the Board Chair or the Executive Committee. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship. It would also be addressed by either the Board Chair or the Executive Committee. Form 990, Part VI, Section B, line 15 Line 15a: The compensation of the President is reviewed annually by the board of trustees which uses information from survey data of comparable institutions and information on other institutions' 990 Forms. The salary is then approved by the board of trustees and documented in the minutes. Line 15b: The President approves compensation of other officers using comparability data. The process of determining compensation is documented. Form 990, Part VI, Section C, line 19 Toccoa Falls College makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.