2020-05-14T06:36:45-05:00 2019-06-30 560747981 DIXON HUGHES GOODMAN LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2018-07-01 560543261 MONTREAT COLLEGE MONT 8286698012 PO BOX 1267 MONTREAT NC 287570121 JACK HEINEN CFO 8286698012 2020-05-13 1 AMY BIBBY P00445891 8282542254 99.47.28.203 2020-05-13 13:32:00 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 48FB394F9AA065459641371F168D9F2AFFFBB473 2018 2020-09-23 17:36:50Z PAUL MAURER PO BOX 1267 MONTREAT NC 287570121 26916848 0 X WWW.MONTREAT.EDU X 1947 NC MONTREAT COLLEGE IS AN INDEPENDENT, CHRIST-CENTERED, LIBERAL ARTS INSTITUTION THAT EDUCATES STUDENTS THROUGH INTELLECTUAL INQUIRY, SPIRITUAL FORMATION, AND PREPARATION FOR CALLING AND CAREER. 14 14 291 0 0 0 5194277 5172826 19970484 21219760 467657 -30087 393287 509298 26025705 26871797 6645346 7234596 0 0 8319685 8857787 0 0 770314 10212146 10955391 25177177 27047774 848528 -175977 29259803 29392811 12400861 12130738 16858942 17262073 X MONTREAT COLLEGE IS AN INDEPENDENT, CHRIST-CENTERED, LIBERAL ARTS INSTITUTION THAT EDUCATES STUDENTS THROUGH INTELLECTUAL INQUIRY, SPIRITUAL FORMATION, AND PREPARATION FOR CALLING AND CAREER. 0 0 14966800 21394819 THE COLLEGE PROVIDES A BROAD, RIGOROUS LIBERAL ARTS CURRICULUM WITH AN EMPHASIS ON TRADITIONAL AND SELECTED UNDERGRADUATE AND GRADUATE PROFESSIONAL DEGREE PROGRAMS, INCLUDING DEGREE PROGRAMS FOR ADULT LEARNERS AND PROGRAMS AT GEOGRAPHICALLY DISTANT LOCATIONS. OUR STATEMENTS OF MISSION, VISION AND FAITH HAVE FORMED THE FOLLOWING EDUCATIONAL OBJECTIVES AT MONTREAT COLLEGE. PLEASE SEE SCHEDULE O FOR A CONTINUATION OF PROGRAM SERVICE ACCOMPLISHMENTS.1.THAT STUDENTS WILL DEVELOP AN INFORMED, BIBLICAL WORLD VIEW INCLUDING THE FOLLOWING: - THE SOVEREIGNTY OF GOD OVER ALL CREATION AND KNOWLEDGE; - A LIFESTYLE OF CHRISTIAN SERVICE TO OTHERS AND THE COMMUNITY; - THE RECOGNITION OF THE INTRINSIC WORTH OF SELF AND ALL PERSONS; - A GENUINE CRITICAL OPENNESS TO THE IDEAS AND BELIEFS OF OTHERS; - THE FORMATION OF VALUES AND ETHICAL REASONING; - AN APPRECIATION FOR WHAT IS BEAUTIFUL, TRUE AND GOOD IN THE ARTS AND LITERATURE; - A RESPECT FOR AND ATTITUDE OF STEWARDSHIP TOWARD THE WHOLE OF CREATION; - AN UNDERSTANDING OF THE PAST AND ITS INTERCONNECTEDNESS WITH THE PRESENT AND FUTURE. 2. THAT STUDENTS WILL DEMONSTRATE EFFECTIVE WRITTEN AND ORAL COMMUNICATION SKILLS. 3. THAT STUDENTS WILL DEMONSTRATE CRITICAL THINKING AND PROBLEM-SOLVING SKILLS. 4. THAT STUDENTS WILL DEMONSTRATE ESSENTIAL COMPUTER INFORMATION SYSTEMS SKILLS. 5. THAT STUDENTS WILL DEMONSTRATE COMPETENCY IN THEIR ACADEMIC MAJORS. 6. THAT STUDENTS WILL DEVELOP INTERPERSONAL AND TEAM SKILLS AND AN UNDERSTANDING AND APPRECIATION OF THEIR PERSONAL STRENGTHS AND WEAKNESSES. 7. THAT STUDENTS WILL BECOME REFLECTIVE AND RESPONSIBLE CITIZENS, EFFECTIVE LEADERS, AND COMMITTED LAITY. 7234596 7234596 TO PROVIDE SCHOLARSHIPS AND SIMILAR FINANCIAL AID. IN TAX YEAR 2018, THERE WERE INSTITUTIONAL AWARDS TO 597 STUDENTS. 22201396 1 1 0 0 0 0 0 1 0 1 1 0 1 1 1 1 0 1 1 0 1 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 75 0 1 291 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JACK HEINEN 8286698012 PO BOX 1267 MONTREAT NC 28757 DAVID BRUCE CHAIR 1.00 X X 0 0 0 LYNN VEERMAN VICE CHAIR 1.00 X X 0 0 0 PASTOR GEORGE LOGAN TRUSTEE 1.00 X 0 0 0 WILLIAM HAYNES TRUSTEE 1.00 X 0 0 0 JUSTIN RAMB TRUSTEE 1.00 X 0 0 0 JOSEPH KIRKLAND CONSELOR TO THE PRESIDENT 40.00 X 109220 0 7408 DAYLE SENEFF TRUSTEE 1.00 X 0 0 0 ALLEN BELL TRUSTEE 1.00 1.00 X 0 0 0 PASTOR BILL DUDLEY TRUSTEE 1.00 X 0 0 0 PASTOR HOWARD EDINGTON TRUSTEE 1.00 X 0 0 0 CLAIR EFIRD TRUSTEE 1.00 1.00 X 0 0 0 BEN SCOTT TRUSTEE 1.00 X 0 0 0 RICHARD MOFFATT TRUSTEE 1.00 1.00 X 0 0 0 DR JEFF HECK TRUSTEE 1.00 X 0 0 0 ANNE GANT TRUSTEE 1.00 X 0 0 0 PAUL MAURER PRESIDENT 50.00 1.00 X 219686 0 55087 JACK HEINEN CFO 50.00 1.00 X 122429 0 7471 GREGORY KERR VP FOR ACADEMIC AFFAIRS 40.00 X 103281 0 18648 554616 0 88614 4 0 1 0 TDC JOHNSTON LLC 5310 SOUTH ALSTON AVE STE 210 DURHAM NC 27713 LEASING SERVICES 277684 CARL H RICKER PO BOX 9527 ASHEVILLE NC 28815 LEASING SERVICES 157341 LIFEWAY CHRISTIAN RESOURCES OF THE SOUTH ONE LIFEWAY PLAZE NASHVILLE TN 37234 MINISTRY SERVICES 119354 ELLUCIAN COMPANY LP 62578 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 SOFTWARE 116239 4 95700 150236 4926890 230098 5172826 TUITION AND FEES 611110 16622778 16622778 AUXILIARY SERVICES 611110 4596982 4596982 21219760 14964 14964 45051 -45051 -45051 -45051 OTHER REVENUE 900099 320709 320709 CAMPUS STORE 900099 188589 188589 509298 26871797 21729058 0 -30087 X 6867869 6867869 366727 366727 342115 342115 6427099 5324993 594177 507929 1552656 1162895 319421 70340 535917 453414 82503 69650 69650 8658 8658 2813751 2394737 372458 46556 3911774 3443148 393624 75002 7179 7179 1195796 1121423 74373 713360 644279 50021 19060 224140 26171 197969 917691 17775 899916 280539 5269 275270 OTHER EXPENSE 579893 295381 233085 51427 BAD DEBT 162824 162824 ANNUITIES EXPENSE 70136 70136 27047774 22201396 4076064 770314 1118471 3854388 39207 0 3419385 1099725 1754113 1577229 157278 138513 432323 303299 34374384 19303790 15077267 15070594 2561402 2604872 101254 101254 1499626 1480657 3099477 3162280 29259803 29392811 2198699 2419982 413856 376604 981558 1018048 -2626 -2875 4013802 5885288 1067784 0 3727788 2433691 12400861 12130738 X 10492957 8579964 2003648 3400970 4362337 5281139 16858942 17262073 29259803 29392811 X -175977 51101 528007 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 0 0 0 8794378 67071 373967 234360 9001056 8468046 51122 484510 209300 8794378 8133393 59443 484510 209300 8468046 8386497 51122 -103177 201049 8133393 8643649 48280 -65271 240161 8386497 0.93000 0.07000 0 1 1 3385206 3385206 6317412 4786108 1531304 19562395 10768984 8793411 4807585 3615657 1191928 301786 133041 168745 15070594 INTERCOMPANY INVESTMENT 1480657 F 1480657 DUE FROM FOUNDATION 3162280 3162280 ANNUITIES PAYABLE 680311 CAPITAL LEASE OBLIGATION 557656 ASSET RETIREMENT OBLIGATION 355000 STUDENT DEPOSITS 840724 2433691 X PART III, LINE 4: THE FINE ARTS COLLECTION EXISTS TO SUPPORT THE GENERAL MISSION OF THE COLLEGE BY PROMOTING AWARENESS AND UNDERSTANDING OF A BROAD SPECTRUM OF ARTISTIC EXPRESSION. AS UNIQUE EXPRESSIONS OF THE HUMAN CONDITION, WORKS IN THE COLLECTION INVIGORATE LEARNING AND TEACHING AND PROVIDE EXPANDED OPPORTUNITIES FOR STUDY, RESEARCH, AND INDIVIDUAL BELIEFS. THE ART CONTRIBUTES TO THE OVERALL EDUCATIONAL AND CULTURAL FUNCTIONS OF THE COLLEGE AND BY OBSERVATIONS, THE EXHIBITIONS OF THE WORKS CONTINUE TO SUPPORT THE CURRICULAR OFFERINGS IN ART EDUCATION AND BIBLICAL STUDIES, PROVIDE AESTHETIC STIMULATION TO VIEWERS, AND ENHANCE EXPERIENCE FOR THE CAMPUS AREA COMMUNITY. PART V, LINE 4: THE ORGANIZATION'S INTENDED USE OF ENDOWMENT FUNDS IS TO INVEST THE ENDOWMENT ASSETS IN AN ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY THE ENDOWMENTS WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ASSETS. PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS RULED THAT THE ORGANIZATION QUALIFIES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS, THEREFORE, NOT GENERALLY SUBJECT TO INCOME TAXES UNDER PRESENT TAX LAWS. MANAGEMENT BELIEVES THAT ANY INCOME TAX LIABILITY RESULTING FROM UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2019 AND 2018 WOULD NOT HAVE A SIGNIFICANT IMPACT ON THE ORGANIZATION'S RESULTS OF ACTIVITIES. CERTAIN SUBSIDIARIES OF THE ORGANIZATION ARE TAXED AS SEPARATE ENTITIES. THE ORGANIZATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF JUNE 30, 2019. 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 RACIALLY NONDISCRIMINATORY POLICY IS MADE KNOWN TO THE COMMUNITY AS DESCRIBED IN NUMBER 3 ABOVE. THE POLICY IS ALSO INCLUDED IN THE FACULTY AND EMPLOYEE HANDBOOKS. SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES FEDERAL FINANCIAL AID FOR STUDENTS. 0 CENTRAL AMERICA AND THE CARIBBEAN 0 0 SCHOLARSHIP GRANTS 53495 EUROPE 0 0 SCHOLARSHIP GRANTS 162732 SOUTH AMERICA 0 0 SCHOLARSHIP GRANTS 77000 NORTH AMERICA 0 0 SCHOLARSHIP GRANTS 40500 SUB-SAHARAN AFRICA 0 0 SCHOLARSHIP GRANTS 33000 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 119195 0 0 0 0 0 0 485922 0 485922 SCHOLARSHIP CENTRAL AMERICA AND THE CARIBBEAN - 4 53495 TUITION FMV SCHOLARSHIP EUROPE (INCLUDING ICELAND & GREENLAND) - 9 162732 TUITION FMV SCHOLARSHIP SOUTH AMERICA - ARGENTINA, BOLIVIA, 4 77000 TUITION FMV SCHOLARSHIP NORTH AMERICA - CANADA AND MEXICO, BUT 3 40500 TUITION FMV SCHOLARSHIP SUB- SAHARAN AFRICA 2 33000 TUITION FMV 0 0 0 0 0 0 PART I, LINE 2: DEPENDING ON THE REQUIREMENTS OF THE FUND SOURCES, FINANCIAL AID AND ALL TITLE IV AND STATE REGULATIONS ARE MONITORED, RECONCILED AND FOLLOWED DAILY BY TRAINED AND EXPERIENCED PROFESSIONAL STAFF THAT STAY UP TO DATE ON ANY CHANGES IN REGULATION THOUGH PROFESSIONAL DEVELOPMENT TRAINING. 1 SCHOLARSHIPS 574 6585402 FMV PART I, LINE 2: DEPENDING ON THE REQUIREMENTS OF THE FUND SOURCES, FINANCIAL AID AND ALL TITLE IV AND STATE REGULATIONS ARE MONITORED, RECONCILED AND FOLLOWED DAILY BY TRAINED AND EXPERIENCED PROFESSIONAL STAFF THAT STAY UP TO DATE ON ANY CHANGES IN REGULATION THOUGH PROFESSIONAL DEVELOPMENT TRAINING. X 0 0 X X X 0 0 0 0 0 0 0 0 0 PAUL MAURER PRESIDENT 219686 0 0 0 0 0 0 0 55087 0 274773 0 0 0 PART I, LINE 1A THE ORGANIZATION PROVIDED THE PRESIDENT WITH A HOUSING ALLOWANCE AS PART OF HIS EMPLOYMENT AND RESPONSIBILITIES AS SERVING AS THE COLLEGE PRESIDENT. THE ESTIMATED VALUE OF THESE SERVICES ARE $36,000. PART I, LINE 3 THE ORGANIZATION USES COMPARABILITY DATA FROM FORMS 990 OF OTHER SIMILAR ORGANIZATIONS AND FROM A COMPENSATION STUDY TO DETERMINE THE SALARIES FOR THE PRESIDENT/CEO AND OTHER OFFICERS. THE PRESIDENT/CEO'S SALARY IS DETERMINED AND APPROVED BY THE INDEPENDENT BOARD OF DIRECTORS ANNUALLY AFTER REVIEWING COMPARABILITY DATA. X 3 230099 FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 3 FOOD SERVICES MANAGEMENT WAS PROVIDED BY ARAMARK AND RISK MANAGEMENT WAS PROVIDED BY EIIA. FORM 990, PART VI, SECTION B, LINE 11B COPIES OF THE 990 WERE PRESENTED TO THE ENTIRE BOARD OF TRUSTEES FOR THEIR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C A TRUSTEE SHALL BE CONSIDERED TO HAVE A CONFLICT OF INTEREST IF (A) SUCH TRUSTEE HAS EXISTING OR POTENTIAL FINANCIAL OR OTHER INTEREST WHICH IMPAIR OR MIGHT REASONABLY APPEAR TO IMPAIR SUCH MEMBER'S INDEPENDENT, UNBIASED JUDGMENT IN THE DISCHARGE OF THE TRUSTEE'S RESPONSIBILITIES TO THE COLLEGE OR (B) SUCH TRUSTEE IS AWARE THAT A MEMBER OF THE TRUSTEE'S FAMILY, OR ANY ORGANIZATION IN WHICH SUCH TRUSTEE (OR MEMBER OF THE TRUSTEE'S FAMILY) IS AN OFFICER, DIRECTOR, EMPLOYEE, MEMBER, PARTNER, TRUSTEE, OR CONTROLLING STOCKHOLDER, HAS SUCH EXISTING OR POTENTIAL FINANCIAL OR OTHER INTERESTS. ALL TRUSTEES SHALL DISCLOSE TO THE BOARD ANY POSSIBLE CONFLICT OF INTEREST AT THE EARLIEST PRACTICAL TIME. FURTHERMORE, THE TRUSTEE SHALL ABSENT HIMSELF/HERSELF FROM DISCUSSIONS OF, AND ABSTAIN FROM VOTING ON, SUCH MATTERS UNDER CONSIDERATION BY THE BOARD OF TRUSTEES OR ITS COMMITTEES. THE MINUTES OF SUCH MEETINGS SHALL REFLECT THAT A DISCLOSURE WAS MADE AND THAT THE TRUSTEE HAVING A CONFLICT OR POSSIBLE CONFLICT ABSTAINED FROM VOTING. ANY TRUSTEE WHO IS UNCERTAIN WHETHER A CONFLICT OF INTEREST MAY EXIST IN ANY MATTER MAY REQUEST THE BOARD OR COMMITTEE TO RESOLVE THE QUESTION IN THE TRUSTEE'S ABSENCE BY MAJORITY VOTE. EACH TRUSTEE SHALL COMPLETE AND SIGN A DISCLOSURE FORM PROVIDED ANNUALLY BY THE SECRETARY OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION USES COMPARABILITY DATA FROM FORMS 990 OF OTHER SIMILAR ORGANIZATIONS AND FROM A COMPENSATION STUDY TO DETERMINE THE SALARIES FOR THE PRESIDENT/CEO AND OTHER OFFICERS. THE PRESIDENT/CEO'S SALARY IS DETERMINED AND APPROVED BY THE INDEPENDENT BOARD OF DIRECTORS ANNUALLY AFTER REVIEWING COMPARABILITY DATA. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION'S FORM 990 IS MADE AVAILABLE TO THE PUBLIC UPON REQUEST. RECENT COPIES OF THE FORM ARE ALSO AVAILABLE ON GUIDESTAR.ORG. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 2,394,737. MANAGEMENT AND GENERAL EXPENSES 372,458. FUNDRAISING EXPENSES 46,556. TOTAL EXPENSES 2,813,751. FORM 990, PART XI, LINE 9: PRIOR PERIOD ADJUSTMENT DUE TO CHANGE IN DUE TO/FROM INTERCOMPANY ACCOUNTS 528,007. PART XII, LINE 2C THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. MONTREAT COLLEGE FOUNDATION PO BOX 1267 MONTREAT NC 28757 561324199 TO SUPPORT THE EDUCATIONAL PURPOSE OF MONTREAT COLLEGE NC 501(C)(3) 12, TYPE II MONTREAT COLLEGE 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0