2021-11-12T10:35:26-06:00 2019-06-30 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 105 Lawrenceville GA 30043 990 2018-07-01 570314365 Benedict College BENE 8037054730 1600 Harden Street Columbia SC 29204 Roslyn Clark Artis President & CEO 8037054730 2021-11-12 1 Ted R Batson Jr P00721951 5055022746 2018 2022-09-23 18:48:47Z Roslyn Clark Artis 1600 Harden Street Columbia SC 29204 82346488 0 X www.benedict.edu X 1894 SC A full opportunity college with high quality programs of teaching, research, and public service. 26 26 617 22 19939 0 10207204 16510982 52840173 43445167 2093899 -380921 420290 927548 65561566 60502776 15248564 10750019 0 0 24704766 21724363 0 0 330314 25263487 26331409 65216817 58805791 344749 1696985 115438092 120889665 83095402 86771741 32342690 34117924 X Benedict College will be a power for good in society. The College is a full opportunity college with high quality programs of teaching, research, and public service. These programs provide the students and community with knowledge, skills, understandings, and values required to empower them to create a better world. The College seeks geographic, international, and racial diversity in the student body while continuing to facilitate empowerment, enhancement, and full participation of African Americans in a global society. 0 0 20847691 10750019 32524234 Instruction - Approximately 2,000 students. The College awarded approximately 290 degrees during the 2018-2019 school year. 8856757 11866376 Auxiliary Enterprises - The Colleges' dormitories, dining hall, and campus store are the major auxiliary enterprises serving the college community. Ten residence halls provide quarters for approximately 1,600 students. 8779298 Student Services - Enrollment Services, College Registrar, Health and Counseling, Sports and Recreation. 4929790 Research, Public Service, Academic Support - The College Library (approximately 130,000 volumes held), Student Financial Aid, Various Other Programs. 4929790 43413536 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2811 0 1 617 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X Chris Thompson 8037054730 1600 Harden Street Columbia SC 29204 Charlie W Johnson Chairman 5.00 X X 0 0 0 G Tyrone Bonds Vice Chairman 5.00 X X 0 0 0 Dr Willie J Hill Jr Secretary 1.00 X X 0 0 0 Dr Elise King Hamler Asst. Secretary 1.00 X X 0 0 0 Anthony T Burroughs Director 1.00 X 0 0 0 Attorney Valoria Cheek Director 1.00 X 0 0 0 Dr Paul W Drummond Director 1.00 X 0 0 0 Attorney Clarence Davis Director 1.00 X 0 0 0 William L Thomas Director 1.00 X 0 0 0 Emory L Waters Director 1.00 X 0 0 0 William B Whitney Director 1.00 X 0 0 0 James P Hudson Director 1.00 X 0 0 0 Dr Benjamin D Snoddy Director 1.00 X 0 0 0 Rich Panner Director 1.00 X 0 0 0 Reverend Dr Solomon Jackson Director 1.00 X 0 0 0 Honorable Stephen K Benjamin Director 1.00 X 0 0 0 Boyd B Jones Director 1.00 X 0 0 0 Dr Tyrone A Burroughs Director 1.00 X 0 0 0 Dr Mary Gaffney Director 1.00 X 0 0 0 Mrs Doris W Johnson Director 1.00 X 0 0 0 Patricia J Ackason Director 1.00 X 0 0 0 Hilda D Gadsden Director 1.00 X 0 0 0 Dr Gail Morrison Director 1.00 X 0 0 0 Dr Haywood L Strickland Director 1.00 X 0 0 0 Jesse J Tyson Director 1.00 X 0 0 0 Dr Dorothy Buckhanan Wilson Director 1.00 X 0 0 0 Audrey P Neal Director (part year) 1.00 X 0 0 0 Dr Samuel Darko Director (part year) 1.00 X 0 0 0 Dr Sheryl P Underwood Director (part year) 1.00 X 0 0 0 Dr Roslyn Clark Artis President & CEO 40.00 X 290000 0 38645 Christopher Thompson VP for Business & Finance 40.00 X 0 0 0 Brenda Walker VP Business & Finance (part year) 40.00 X 114720 0 698 Dr Milton Kimpson Vice Chairman - Emeritus 1.00 X 0 0 0 Dr Ceeon Smith Chief of Staff 40.00 X 139256 0 12564 James White Athletics 40.00 X 130000 0 0 Leandra Burgess VP Institutional Advancement 40.00 X 127961 0 6177 Godwin E Mbamalu Sponsored Programs 40.00 X 113427 0 6194 Janenn P Witty Tucker VP Academic Affairs 40.00 X 110923 0 19901 1026287 0 84179 9 0 1 0 Perkins Management Services Co 6201 Fairview Rd Charlotte NC 28210 Food service provider 4053679 Jenzabar Inc PO Box 55018 Boston MA 02205 Campus support and software 549703 Aercor Wireless Inc 12 Cabin Court Irmo SC 29063 Campus wiring 330031 Stewart Services of SC LLC 325 Grove Street Charleston SC 29403 HVAC services 182820 Ebsco Information Services PO Box 204661 Dallas TX 45320 Library services 151626 10 170798 7570705 8769479 16510982 Tuition and Fees 611600 32524234 32524234 Auxiliary Enterprises 611600 10920933 10920933 43445167 638131 638131 19035370 1750000 19035370 2769052 0 -1019052 -1019052 -1019052 1456 170798 39290 -37834 -37834 Print Shop 323111 222200 202261 19939 743182 743182 965382 60502776 44390610 19939 -418755 10750019 10750019 453476 290262 155555 7659 17050966 10914023 5848967 287976 267228 171048 91667 4513 2708364 1857899 847916 2549 1244329 792618 424774 26937 92752 92752 99880 99880 206557 206557 4413267 2917595 1495672 143089 5850 137239 734547 154888 579659 696137 696137 2525845 1970811 555034 763154 304083 458391 680 9186 9186 3130147 1717503 1412644 5814573 4969777 844796 1572621 470736 1101885 Food Service 3395416 3395416 Book Rental Expense 1104503 1104503 Repairs & Maintenance 600842 600842 1028893 930368 98525 58805791 43413536 15061941 330314 X 1365334 2325379 5837459 11359983 988549 4824957 797473 1941320 118743 52552 3961531 1075268 173251793 95524979 81028908 77726814 16746102 17341754 3646932 3288211 947061 953427 115438092 120889665 8048152 7191379 2067410 3558888 3013883 72037792 72160268 0 942048 847323 83095402 86771741 X 17913525 13202707 14429165 20915217 32342690 34117924 115438092 120889665 X 1696985 71883 6366 X 0 1 X 1 1 1 X 10206272 12063758 9884413 10207204 16510982 58872629 10206272 12063758 9884413 10207204 16510982 58872629 4328656 54543973 608995 607734 584039 1091029 638131 3529928 566161 1252179 969619 297508 946899 4032366 66434923 271672462 0.82100 0.85040 X Schedule A, Part II, Line 10, Explanation of Other Income: Fundraising Event Fees - 2014 Amount: $ 92,955. 2015 Amount: $ 108,170. 2016 Amount: $ 142,169. 2017 Amount: $ 297,508. 2018 Amount: $ 1,456. Other Income - 2014 Amount: $ 473,206. 2015 Amount: $ 1,144,009. 2016 Amount: $ 827,450. 2017 Amount: $ 0. 2018 Amount: $ 743,182. Print shop - 2018 Amount: $ 202,261. 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, therefore, qualifies to use the first listed special rule for Schedule B reporting. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12799783 652989 491915 573898 13370789 12391130 553292 478620 623259 12799783 12014058 355666 605446 584039 12391131 10138730 2146330 336732 307734 12314058 10042421 320571 384733 608995 10138730 0.03330 0.96670 1 0 10970756 10970756 133039478 70825485 62213993 25808704 22100466 3708238 3432855 2599028 833827 77726814 Asset retirement obligation 641560 Refundable government advances 205763 847323 49870296 71883 45656 117539 49752757 10750019 10750019 60502776 48095062 39290 39290 48055772 10750019 10750019 58805791 Part V, Line 4: The College's endowment consists of 195 individual funds established for a variety of purposes including both donor-restricted endowment funds and funds designated by the Board of Trustees to function as endowments. Part XI, Line 2d - Other Adjustments: Fundraising Events Expenses 39,290. Change in Value of Perpetual Trusts Held By Others 6,366. Part XI, Line 4b - Other Adjustments: Scholarships & Other Student Aid 10,750,019. Part XII, Line 2d - Other Adjustments: Fundraising Events Expenses 39,290. Part XII, Line 4b - Other Adjustments: Scholarships & Other Student Aid 10,750,019. Form 990, Schedule 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 6/30/2019. To date, Form 990 and its associated schedules have not been 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 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Benedict College has committed to equal opportunity, affirmative action, and non-discrimination on the basis of race, creed, religion, age, sex, national origin, handicap and other legally protected status, in all educational programs, activities and conditions of employment. The organization's nondiscriminatory policy is published on the homepage of its website. Schedule E, Part I, Line 6 Benedict College receives student financial aid grants from the US Department of Education and the State of South Carolina in addition to federal and state grant monies received for special programs and research projects. UNCF Revival of the Mind 96756 95300 1456 7588 0 4695 Charter Day 40982 40982 17230 1 34516 34516 5525 4252 172254 170798 1456 13113 26177 39290 -37834 1 Scholarships & Financial Aid 676 10750019 Part I, Line 2: The College's procedures for monitoring the use of grant funds required verification of 1) enrollment status, 2) number of hours enrolled, 3) number of earned credit hours, 4) GPA, and 5) housing status. In addition, a review of student academic performance and grades of incomplete, if applicable, is conducted each semester to determine overall standing in relation to College's established Satisfactory Academic Policy (SAP). No cash changes hands and funds are directly tied to student accounts. X 1 1 X 0 0 0 0 0 0 0 0 0 Dr Roslyn Clark Artis President & CEO 290000 0 0 0 0 0 0 0 39095 0 329095 0 0 0 Dr Ceeon Smith Chief of Staff 139256 0 0 0 0 0 0 0 12940 0 152196 0 0 0 Part I, Line 1a As a condition of employment, and as a convenience to the University, the President & CEO is provided a home by the University. The University also provides grounds care and covers utilities for the home. The home is provided as a nontaxable benefit to the President & CEO. A South Carolina Jobs Economic Development Authority (JEDA) 570314365 83704MAG1 2018-09-20 19640000 Refinance existing indebtedness taxable bonds issued 6/25/2013 0 0 0 A 19640000 4344273 387312 14908415 2019 0 1 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 1 0 0 0 0 1 A 1 Dr Tyrone A Burroughs Board Member Operating expenses X 3000000 3013883 0 1 1 3013883 Form 990, Part VI, Section A, line 1 The Executive Committee consists of Board Officers, Standing Committee chairs and two Board members at large nominated by the Committee on Trustees at the Board's Annual Meeting. The Executive Committee represents the Board between meetings of the Board and exercises in general the authority of the Board in matters pertaining to the regular administration of the Board except when referral with power has been given by the Board in respect to certain specific items of business. Form 990, Part VI, Section B, line 11b Form 990 is prepared by an independent CPA firm and reviewed in detail by the organization's top management. The reviewed Form 990 is then provided to the board of directors prior to filing with the IRS. Form 990, Part VI, Section B, line 12c The board maintains a conflict of interest policy which is signed on an annual basis. In the course of meetings or activities, everyone will disclose any interests in a transaction or decision where he/she, including their business or other non-profit affiliations, family and/or significant other, employer or close associates will receive a benefit or a gain and these are reviewed by the President. The board reviews the President's signed statement. After disclosure or any possible conflicts of interest, the person will be asked to leave the room for the discussion and will not be permitted to vote on the question. Form 990, Part VI, Section B, line 15 Compensation for the President is determined by the Board Chair in consultation with the Executive Committee of the Board and is presented to the full Board of Directors for prior review and approval. Compensation of other senior members of management is determined through application of the Agency's written performance review/compensation policies and procedures with final written approval by the President. The Board approves compensation set (% salary increase) in conjunction with the annual budget. The College uses comparative studies from other similarly sized historically black colleges and universities. Written documentation of the decision is kept in the College's permanent records. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, and financial statements are available upon request. Form 990, Part X, Lines 27-29: 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 6/30/2019. The 2018 Form 990 and its associated schedules have not been 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, Part X, Lines 27-29: Line 27 - Net assets without donor restrictions $13,202,707 Line 29 - Net assets with donor restrictions 20,915,217 Total net assets $34,117,924 Form 990, Part XI, line 9: Change in Value of Perpetual Trusts Held By Others 6,366.