2021-04-15T11:41:07-05:00 2020-05-31 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 105 Lawrenceville GA 30043 990 2019-06-01 570314406 North Greenville University NORT 8649777000 PO Box 1892 Tigerville SC 29688 Michael Stowell SVP for Finance 8649777000 2021-04-15 1 Ted R Batson Jr P00721951 6785185301 2019 2022-09-23 18:48:47Z Dr Gene Fant PO Box 1892 Tigerville SC 29688 71937042 0 X www.ngu.edu X 1892 SC The University offers a quality education in a biblically sound, Christ-centered environment. 25 24 1136 100 0 0 4223052 5092890 59527160 57330222 311226 759395 437326 122582 64498764 63305089 16678307 17313077 0 0 26397841 26470360 0 0 939454 18659637 18554905 61735785 62338342 2762979 966747 116879206 119221834 9264564 9155555 107614642 110066279 North Greenville University exists to glorify God by cultivating graduates who are equipped to serve as transformational leaders for church and society. 0 0 56219042 17313077 57330222 The University is a co-educational liberal arts university offering graduate and undergraduate degrees. It has Level V membership in the Commission of Colleges of the Southern Association of Colleges and Schools. The University's purpose is to provide opportunities for higher education in a Christian atmosphere. The University provided education services to 2,428 students. 56219042 1 1 0 0 0 0 0 1 1 1 1 1 0 0 1 0 0 1 1 0 1 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 1 0 1 1 0 0 0 1 1 0 0 0 1 3526 0 1 1136 1 0 0 0 0 0 1 1 0 0 0 1 0 0 0 X 25 24 0 0 1 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X Mike Stowell 8649777000 PO Box 1892 Tigerville SC 29688 X Dr Gene Fant President 40.00 X 265379 0 35320 Keli Sewell VP Enrollment Mgmt /Senior Dir. Student Services 40.00 X 134823 0 39278 Rich Grimm Executive VP 40.00 X 150921 0 20589 Jordan M Hairr PA Program Dir. & Asst. Professor 40.00 X 143963 0 14988 Nathan Finn Provost 40.00 X 119556 0 31952 John Duncan Dean Coll. of Bus. & Prof of Acct. 40.00 X 130382 0 8574 C Michelle Sabou Senior VP of Finance 40.00 X 118728 0 20011 Tim Huggins VP Information Technology Services 40.00 X 116878 0 21859 Marty O'Gwynn VP of Advance. & Univ. Engagement 40.00 X 120934 0 10626 Rev Travis Agnew Chairman 1.00 X X 0 0 0 David Charpia Chairman (part year) 1.00 X X 0 0 0 William Knupp Vice Chairman 1.00 X X 0 0 0 Ronald Edwards Vice Chairman (part year) 1.00 X X 0 0 0 Beverly N Hawkins Secretary 1.00 X X 0 0 0 Laura Messer Trustee 1.00 X 0 0 0 Rodney Back Trustee (part year) 1.00 X 0 0 0 Mitsy Ballentine Trustee 1.00 X 0 0 0 Mandie Boyd Trustee 1.00 X 0 0 0 Rev Seth Buckley Trustee 1.00 X 0 0 0 Rebecca Coleman Trustee 1.00 X 0 0 0 James Cudd Trustee 1.00 X 0 0 0 Bo Davies Trustee 1.00 X 0 0 0 Gary Glenn Trustee (part year) 1.00 X 0 0 0 Mike Hamrick Trustee 1.00 X 0 0 0 Robert Jackson Trustee 1.00 X 0 0 0 Edwin Leap Trustee 1.00 X 0 0 0 Richard McLawhorn Trustee 1.00 X 0 0 0 Claude Tackett Trustee 1.00 X 0 0 0 Dr Mike Whitson Trustee 1.00 X 0 0 0 Pierce Williams Trustee 1.00 X 0 0 0 Mr Lee Capell Trustee 1.00 X 0 0 0 Dr Mike Hamlet Trustee 1.00 X 0 0 0 Mr Gary Holeman Trustee 1.00 X 0 0 0 Lucian Lee Trustee 1.00 X 0 0 0 Cathy Blalock Trustee 1.00 X 0 0 0 Bill Tyler Trustee 1.00 X 0 0 0 Don Wilson Trustee 1.00 X 0 0 0 Shana Sands Trustee 1.00 X 0 0 0 1301564 0 203197 16 0 1 0 Aramark Services Inc PO Box 978839 Dallas TX 753978839 Food Service 3529290 The Budd Group PO Box 890856 Charlotte NC 282890856 Landscape & Janitorial Service 1264454 Sherman Construction Co Inc 1330 Piedmont Hwy Piedmont SC 296738505 Construction Services 986545 Trehel Corporation PO Box 6688 Greenville SC 29606 Construction Services 306690 BSN Sports PO Box 7726 Dallas TX 75209 Sports Uniforms and Apparel 202909 16 250 1165011 1577837 2349792 161502 5092890 Tuition and fees 611600 40935205 40935205 Auxiliary revenue 611710 14769988 14769988 Campus Bookstore 451211 645961 645961 979068 979068 57330222 763108 763108 164516 53463 111053 111053 111053 8517861 45025 8447923 118676 69938 -73651 -3713 -3713 23420 250 11891 11529 11529 63305089 57330222 0 881977 17313077 17313077 786040 642429 143611 139233 139233 21429216 18701410 2117252 610554 253878 215320 31394 7164 2414581 2091537 268575 54469 1447412 1257274 147388 42750 130701 130701 73100 73100 237770 237770 432550 235297 173058 24195 384615 545 384070 1441361 1271035 100543 69783 66638 65847 791 108609 106677 1932 385247 333564 35034 16649 62351 47600 2503 12248 2549066 2486736 55307 7023 645290 626127 17238 1925 Repairs & maintenance 5174623 5047844 112438 14341 Food services 3203750 3203750 Bad debt expense 430161 430161 Campus bookstore COGS 411434 411434 2817639 2022306 716980 78353 62338342 56219042 5179846 939454 7837338 11349776 3822156 2947118 405370 467258 2000 0 7854 13764 475496 243282 26588 108005 97987275 34062311 62807724 63924964 26466543 25706598 12209556 11741160 865375 865555 1953206 1854354 116879206 119221834 3715660 3320442 4684430 5398027 39982 39729 184601 145324 154306 110417 485585 141616 9264564 9155555 X 67977596 70018423 39637046 40047856 107614642 110066279 116879206 119221834 X 966747 1582142 -97252 X 0 1 X 1 1 1 X 3698218 2944393 4192751 4223052 5092890 20151304 3698218 2944393 4192751 4223052 5092890 20151304 1623082 18528222 666594 661905 728927 918471 927624 3903521 35580 10501 48845 58977 23420 177323 24232148 289422986 0.76460 0.76670 X Schedule A, Part II, Line 10, Explanation of Other Income: Fundraising - 2015 Amount: $ 35,580. 2016 Amount: $ 10,501. 2017 Amount: $ 48,845. 2018 Amount: $ 58,977. 2019 Amount: $ 23,420. 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 5000 95733 X X 0 0 1 X 34748925 210203 2338016 2448075 34849069 31299423 3031695 667538 249731 34748925 28356288 1214458 1787206 58529 31299423 25829511 314976 2265824 54023 28356288 28200202 167717 -1050933 1487475 25829511 0.05770 0.94230 0 1 1 2693466 8485116 11178582 71080399 22836710 48243689 14897876 11225601 3672275 830418 830418 63924964 Cash value of life insurance 549278 F Baptist Foundation 9014581 F Alternative investments 2134101 F Other investment assets 43200 F 11741160 Trust liability 47590 Capital lease obligation 94026 141616 48379747 1582142 3709 65354 1651205 46728542 237770 16338777 16576547 63305089 45928110 3709 65354 69063 45859047 237770 16241525 16479295 62338342 Part III, Line 4: Bronze statues are located throughout the North Greenville campus with Scripture to remind the campus community of the mission and purpose of the institution. Part IV, Line 2b: Deposits held in custody represent amounts held for various organization's club accounts in the university or on university grounds that conduct their own business transactions for events. These funds are kept in the university checking account and maintained in the general ledger as a net to a liability account per organization. Part V, Line 4: The majority of the University's endowment earnings is used to provide scholarship assistance. A small portion of earnings are used to provide programs as designated by donors and the Board of Trustees. 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 5/31/2020. 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 Part XI, Line 2d - Other Adjustments: Fundraising expenses 11,891. Rental expenses 53,463. Part XI, Line 4b - Other Adjustments: Scholarships netted with revenue 16,241,525. Change in value of trust 97,252. Part XII, Line 2d - Other Adjustments: Fundraising expenses 11,891. Rental expenses 53,463. Part XII, Line 4b - Other Adjustments: Scholarships netted with revenue 16,241,525. 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 organization currently enrolls students of racial minority groups in meaningful numbers consistent with the publicity exception found in Rev. Proc. 75-50 section 4.03(2)(b). Schedule E, Part I, Line 6 Federal financial aid funds under Title IV are received by the University and are awarded and disbursed to its students. The University also received HEERF grants made available during the COVID-19 Pandemic. Central America and the Caribbean 0 0 Program Services Study Abroad 11297 Europe (Including Iceland & Greenland) 0 0 Program Services Study Abroad 1906 North America - Canada and Mexico 0 0 Program Services Study Abroad 1379 Central America and the Caribbean 0 0 Investments 152960 0 0 0 0 0 0 167542 0 167542 0 0 0 0 0 0 Part I, line 3: Accrual method of accounting is used to account for foreign expenditures. Part III Accounting Method: Golf tournament - Marion Moorhead 13920 250 13670 6170 357 Golf tournament - Crusader Club 9750 0 9750 5087 35 242 23670 250 23420 5087 6170 35 599 11891 11529 1 Scholarships 1696 16241525 HEERF Grants 918 1071552 Part I, Line 2: The financial aid planning office 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 institution does require some other guidelines in the event that funds are offered based on certain academic credentials or performance in a university sponsored activity or athletic event. These credentials are clearly stated in the university catalog and the university website. Enrollment and eligibility are monitored by the university. Scholarships are applied directly to each student's account. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 Dr Gene Fant President 250000 0 14067 0 1312 0 1666 0 33789 0 300834 0 0 0 Keli Sewell VP Enrollment Mgmt /Senior Dir. Student Services 134147 0 676 0 0 0 958 0 38455 0 174236 0 0 0 Rich Grimm Executive VP 150245 0 676 0 0 0 1050 0 19674 0 171645 0 0 0 Jordan M Hairr PA Program Dir. & Asst. Professor 143287 0 676 0 0 0 980 0 14143 0 159086 0 0 0 Nathan Finn Provost 118873 0 683 0 0 0 876 0 31211 0 151643 0 0 0 Part I, Line 1a As a condition of employment, and as a convenience to the University, the President, Senior VP of Finance, the VP of Information Technology, VP Campus Ministry, Provost and Executive VP are provided a home on University grounds. The home is provided as a nontaxable benefit. Vlad Sabou Family Member of Michelle Sabou, Senior VP Finance 66980 W-2 and Benefits 0 Landon Powell Family Member of Bo Davies, Trustee 69948 W-2 and Benefits 0 X 2 5000 Cost X 8561 Cost X 59160 Cost X 5 63403 Cost X 5 14674 Selling Price X Equipment 2 5948 Cost X Meals 3 4756 Cost 1 0 1 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 is composed of the Chairman, the Vice Chairman, the Secretary, two members-at-large, and the Chairman of each of the other board committees. When the board is not in session, the Executive Committee has the authority to: a) Discharge such duties as the board may assign from time to time and submit a report of its action at the next meeting of the board. b) Review and approve the annual budget prepared by the President and recommend the budget to the entire board for final action. c) Except as limited by these bylaws, or the board itself, have general oversight over matters relating to finance, and implement the fiscal policies of the board. d) Initiate and implement long-range planning for the institution. e) Through the President, serve as the avenue of communication between the board, the faculty, staff, and student body. f) Serve as a grievance committee on complaints received through the office of the President from member of the faculty or staff at the executive committee's initiative or at the request of the President. Form 990, Part VI, Section A, line 4 The following changes were made to the organization's bylaws: 1) Article I was rewritten to clarify the mission and identity of the university. 2) Article II was amended to include the qualifications of the trustees. 3) Article V was amended to remove the list of standing committees. These committees are now included in the Board Policy Manual and incorporated by reference. Correspondingly, all references to the functions of subcommittees was also removed from the bylaws. 4) Article VII was updated to add the position of Executive Vice President as an officer of the university. Form 990, Part VI, Section A, line 7a The governing body of North Greenville University is vested in a Board of Trustees, elected by the South Carolina Baptist Convention in the manner and for the terms prescribed in the charter of the institution, in accordance with the action of the Convention. The South Carolina Baptist Convention is an association of cooperating churches which meets annually for two days to conduct Convention business. Each church that contributes to the Cooperative Program and adheres to the Baptist Faith and Message 2000 is allowed to send a delegation of messengers to the annual meeting. Messengers register in advance and credentials are issued (including voting ballots) to qualified Messengers. The Messengers elect the trustees of North Greenville University. Form 990, Part VI, Section A, line 7b Certain governance decisions are reserved to the Messengers of the South Carolina Baptist Convention, including: (1) the appointment and removal of members of the Board of Trust, (2) amendments to the articles of incorporation, (3) merger or dissolution of the corporation, and (4) the disposal of assets other than in the usual and regular course of the University's activities. Further, the Executive Board of the South Carolina Baptist Convention may approve amendments to the articles of incorporation other than an amendment changing the relationship between the University and the Convention. Form 990, Part VI, Section B, line 11b The 990 is prepared by an independent CPA firm and reviewed in detail by the organization's top management. Every member of the governing body is provided with a copy of the 990 prior to filing with the IRS. Form 990, Part VI, Section B, line 12c The trustees and officers must sign a conflict of interest policy annually. The conflict of interest disclosure forms are then reviewed by the Senior VP of Finance. The Senior VP of Finance's statement is reviewed by the President and Chairman of the Board. Any conflicts are disclosed to the President and the Chairman of the Board. 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. Form 990, Part VI, Section B, line 15 The Executive Compensation Committee of the independent Board of Trustees reviews the salary and benefits of the President and decides what the new contract amounts will be using comparability data from colleges with similar budgets. This process is documented in the committee minutes. The salary of the officers is reviewed annually by the independent Board during budget approval. The officers are typically eligible to receive the same rate of merit increases as other employees, and the final salary decisions for the officers is made by the President. This process is documented in board minutes as part of the annual budget process. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy and financial statements are available upon request. Part VII, Section A Further review of the bylaws has resulted in the identification of certain persons previously listed as officers who are not considered officers by the University. Part VII has been updated accordingly. Form 990, Part XI, line 9: Change in value of trust -97,252. South Carolina Baptist Convention 190 Stoneridge Drive Columbia SC 29210 570360087 Association of Southern Baptist Churches SC 501(c)(3) Line 1 N/A 0 The Baptist Foundation of South Carolina 190 Stoneridge Drive Columbia SC 29210 570348054 Institution of SCBC designated for the management of trust funds SC 501(c)(3) Line 1 South Carolina Baptist Convention 0 Living Trust (1) Irrevocable Living Trust SC North Greenville University T 1 Charitable Remainder Unitrust (5) Charitable Remainder Unitrust SC North Greenville University T 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0