2020-12-14T15:33:53-06:00 2020-06-30 363990892 Capin Crouse LLP 125 Lakes Parkway Suite 130 Lawrenceville GA 30043 990 2019-07-01 580685908 Toccoa Falls College Inc TOCC 7068866831 107 Kincaid Drive Toccoa Falls GA 305980013 Dee Mooney VP for Finance 7068866831 2020-12-14 1 Ted R Batson Jr P00721951 6785185301 2019 2022-09-23 18:48:47Z Dr Robert M Myers 107 Kincaid Drive Toccoa Falls GA 305980013 26094163 0 X https://tfc.edu X 1911 GA Providing undergraduate college education and Christian ministries on a residential campus. 15 14 622 40 191142 15635 1020043 1146081 23534707 24183536 124726 286056 553189 366802 25232665 25982475 7189945 7277732 0 0 9771972 9712920 0 0 392509 7212633 6985083 24174550 23975735 1058115 2006740 29173929 32471724 7167237 8507044 22006692 23964680 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 21184999 7277732 24359196 Toccoa Falls College offers undergraduate programs in 34 majors and 41 minors to approximately 2400 residential, commuter, and online students. The College provides the campus community with food services, residential housing, and a college gift shop. Also, Toccoa Falls College offers student counseling and career placement, student activities and student government, intramural recreation, and various other student experiences as co-curricular to their academic experience. 21184999 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 1 2557 0 1 622 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 15 14 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 Robert Myers President 40.00 X 215256 0 40682 Dee Mooney VP for Finance 40.00 X 109191 0 19419 Brian Shelton Provost (Part Year) 40.00 X 87928 0 21724 Kieran Clements VP of Academic Affairs 40.00 X 89689 0 7330 John Allen Chairman 1.00 X X 18815 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 (Part Year) 1.00 X 0 0 0 George Woerner Trustee (Part Year) 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 Brian Bojo Trustee (Part Year) 1.00 X 0 0 0 James K Dew Trustee (Part Year) 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 John K Wilkinson Trustee 1.00 X 0 0 0 C David Markle Trustee 1.00 X 0 0 0 520879 0 89155 2 0 1 0 Chartwells Dining Services PO Box 417632 Boston MA 022417632 Food Services 1643301 Clark Communications 2 Westside Drive Asheville NC 28806 Printing/Mailing 179331 2 323303 822778 1146081 Tuition and fees 900099 20036746 20036746 Auxiliary enterprises 900099 3929024 3818936 110088 Conference fees 900099 217766 217766 24183536 274531 274531 53400 18019 0 0 53400 18019 71419 71419 123213 111688 11525 11525 11525 295383 285748 9635 295383 25982475 24359196 191142 286056 7277732 7277732 528921 130171 398750 67676 67676 7088509 6245244 726112 117153 157099 139377 14416 3306 1379608 1126178 212510 40920 491107 432174 49111 9822 16223 16223 59339 59339 295099 199470 69037 26592 172392 100990 71402 669262 336047 247707 85508 304137 152068 152069 1218778 1121829 86804 10145 294496 267207 14973 12316 138711 128708 8852 1151 741157 687708 47299 6150 170495 53842 116653 Food and Beverage 1249123 1249123 COVID 19 Student Refund 509290 509290 Textbooks 359383 359383 Repairs and Maintenance 202000 103797 96763 1440 585198 496985 81609 6604 23975735 21184999 2398227 392509 55977 58250 7955686 8253556 318679 248308 112804 133574 380190 434374 32618969 15806521 16531557 16812448 2782997 3425774 698856 2821975 94094 82351 243089 201114 29173929 32471724 898832 758739 650000 636940 5042526 4554702 1823700 575879 732963 7167237 8507044 X 16506833 18292328 5499859 5672352 22006692 23964680 29173929 32471724 2006740 -48752 0 X 0 1 X 1 1 1 X 2003602 1604792 1077469 1020043 1146081 6851987 2003602 1604792 1077469 1020043 1146081 6851987 523227 6328760 85760 87959 117740 140741 274531 706731 27550 49135 6313 82998 371349 236364 405945 474180 285748 1773586 9415302 108505269 0.67220 0.67840 X Schedule A, Part II, Line 10, Explanation of Other Income: Miscellaneous - 2015 Amount: $ 371,349. 2016 Amount: $ 236,364. 2017 Amount: $ 405,945. 2018 Amount: $ 474,180. 2019 Amount: $ 285,748. 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 3267691 8697 51596 32400 3295584 3092821 42222 132648 3267691 2834401 246545 95120 83245 3092821 2650806 63000 204968 84373 2834401 2589694 89122 -28010 2650806 1.00000 1 0 3150017 3150017 22928864 10902326 12026538 5190470 3874729 1315741 1349618 1029466 320152 16812448 Cash and cash equivalents 1176090 C Certificates of Deposit 1589985 F Real Estate 55900 F 2821975 Student deposits 638344 Annuities payable 94619 732963 18655991 -48752 -48752 18704743 7277732 7277732 25982475 16698003 0 16698003 7277732 7277732 23975735 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 6/30/2020. The 2019 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 4b - Other Adjustments: Student Aid 7,277,732. Part XII, Line 4b - Other Adjustments: Student Aid 7,277,732. 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. The monies are awarded through federal programs and is required to comply with various regulations related to those funding programs. 1 Scholarships 745 7277732 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. X 1 1 X X X 1 0 0 0 0 0 0 1 0 Robert Myers President 205971 0 100 0 9185 0 10554 0 30237 0 256047 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 4a Brian Shelton, Officer, received $19,106 severance. Part I, Line 7 Non-fixed payments for the FY included Christmas bonus $100/each; $8,072 moving expenses; $6,000 taxable housing expense reimbursement; $3,185 personal use auto; $4,900 overload teaching, tuition discount to grandchildren. A Stephens County Development Authority 581024352 2006-02-01 8805000 Refinance of bond issued 5/28/99 1 0 0 A 4163000 8805000 8805000 2000 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 1 0 1 0 0 0 1 A 1 Sally Shelton Family member of Officer, Brian Shelton 67676 W-2 wages 0 Ron Cantrell Construction Inc An entity that is more than 35% owned by Ron Cantrell, board member 341345 Construction services 0 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.