2019-05-15T16:22:08-05:00 2018-06-30 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 130 Lawrenceville GA 30043 990 2017-07-01 570314365 Benedict College BENE 8037054730 1600 Harden Street Columbia SC 29204 Roslyn Clark Artis President & CEO 8037054730 2019-05-15 1 Ted R Batson Jr P00721951 6785185301 139.146.132.42 2019-05-15 17:22:00 ED P 53865D595A7AB72919CBCE9F245C0B783783427B DFC357842FFE4B7DCEB1B0C22B45D069C995EA34 2017 2019-02-21 02:37:17Z Roslyn Clark Artis 1600 Harden Street Columbia SC 29204 68761559 0 X http://www.benedict.edu X 1894 SC A full opportunity college with high quality programs of teaching, research, and public service. 23 23 442 29 195937 924 9884413 10207204 58095791 52840173 584039 2093899 864461 420290 69428704 65561566 16531723 15248564 0 0 26477902 24704766 0 0 642315 28167250 25263487 71176875 65216817 -1748171 344749 120972422 115438092 89391062 83095402 31581360 32342690 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 22787845 15238564 39017983 Instruction - Approximately 2,100 students. The College awarded approximately 250 degrees during the 2017-2018 school year. 10037718 13822190 Auxiliary Enterprises - The Colleges' dormitories, dining hall, and campus store are the major auxillary enterprises serving the college community. Ten residence halls provide quarters for approximately 1,600 students. 9430760 Student Services - Enrollment Services, College Registrar, Health and Counseling, Sports and Recreation 5771080 10000 Research, Public Service, Academic Support - The College Library (approximately 132,000 volumes held), Student Financial Aid, Various Other Programs 5771080 10000 48027403 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 0 0 0 0 0 1 0 0 1 1 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 0 0 0 1 198 0 1 442 1 1 1 0 0 0 0 0 0 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 0 0 SC X Roslyn Clark Artis 8037054730 1600 Harden Street Columbia SC 29204 Dr James B Blassingame Director 1.00 X 0 0 0 Anthony T Burroughs Director 1.00 X 0 0 0 Attorney Valoria Cheek Director 1.00 X 0 0 0 Diana Tobar Director 1.00 X 0 0 0 Audrey P Neal Director 1.00 X 0 0 0 Dr Paul W Drummond Director 1.00 X 0 0 0 Clarence Davis Esquire Director 1.00 X 0 0 0 Donald Rozier Director 1.00 X 0 0 0 Dr Samuel Darko 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 Sheryl P Underwood Director 1.00 X 0 0 0 Charlene H Keys 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 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 Dr Willie J Hill Jr Secretary 1.00 X 0 0 0 Elise King Hamler Asst. Secretary 1.00 X 0 0 0 Dr Roslyn Clark Artis President & CEO 40.00 X 140000 0 2535 G Tyrone Bonds Vice Chairman 5.00 X 0 0 0 Charlie W Johnson Chairman 5.00 X 0 0 0 Dr Milton Kimpson Vice Chairman 5.00 X 0 0 0 Dr Ruby Watts Executive Vice President 40.00 X 112894 0 8857 Janeen Witty VP Academic Affairs 40.00 X 112644 0 12347 Brenda Walker VP for Business & Finance 40.00 X 113212 0 8294 478750 0 32033 4 0 0 0 Perkins Management Services Co 7730 England Street Suite A Charlotte NC 28273 Food service provider 4030643 GCA Services 4726 Western Avenue Suite 1500 Knoxville TN 37921 Physical plant and maintenance 964348 Sewart Services 352 Grove Street Charleson SC 29403 Boiler/chiller replacement 422630 Jenzabar Inc PO Box 55018 Boston MA 02205 EX Enterprise resource planning system i 332439 Trane PO Box 406469 Atlanta GA 30384 Alumni Hall chiller replacement 300000 10 84888 8145619 1976697 55400 10207204 Tuition and Fees 611600 39017983 39017983 Auxillary Enterprises 611600 13822190 13822190 52840173 1091029 1091029 468320 3661388 468320 2658518 0 1002870 1002870 1002870 297508 84888 73155 224353 224353 On Campus Printing 561439 172663 172663 Off Campus Printing 561439 23274 23274 195937 65561566 52840173 195937 2318252 10000 10000 15238564 15238564 285704 249907 35797 12000 8322 3513 165 20278558 13310940 6567439 400179 225288 154127 63200 7961 2454526 1593187 810010 51329 1448690 910788 506364 31538 492522 492522 93189 93189 330882 330882 5861127 4637592 1218852 4683 581978 257506 319758 4714 670892 335754 304492 30646 4020540 3036779 925137 58624 720507 605765 98563 16179 125027 50045 74482 500 2312541 1882166 430375 6053437 5164734 888703 1021825 241177 780648 Bad Debt 2383863 2383863 595157 589957 5200 65216817 48027403 16547099 642315 X 107705 1365334 0 5837459 835277 988549 1085425 797473 174836 118743 479851 3961531 170690142 89661234 90322517 81028908 27290564 20393034 676247 947061 120972422 115438092 5583474 6549974 5765156 2067410 210000 69364032 69537792 8678400 4730226 89391062 83095402 X 16647992 17913525 0 0 14933368 14429165 31581360 32342690 120972422 115438092 X 344749 40500 335170 40911 X X 0 1 X 1 1 1 X 10911130 10206272 12063758 9884413 10207204 53272777 10911130 10206272 12063758 9884413 10207204 53272777 974012 52298765 619072 608995 607734 584039 1091029 3510869 1632896 566161 1252179 969619 297508 4718363 61502009 287470406 0.85040 0.87510 X Schedule A, Part II, Line 10, Explanation of Other Income: Fundraising Event Fees - 2013 Amount: $ 112,271. 2014 Amount: $ 92,955. 2015 Amount: $ 108,170. 2016 Amount: $ 142,169. 2017 Amount: $ 297,508. Other Income - 2013 Amount: $ 1,520,625. 2014 Amount: $ 473,206. 2015 Amount: $ 1,144,009. 2016 Amount: $ 827,450. 2017 Amount: $ 0. 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. 12391130 553292 478620 623259 12799783 12014058 355666 605446 584039 12391131 10138730 2146330 336732 307734 12314058 10042421 320571 384733 608995 10138730 9515416 545161 600916 619072 10042421 0.03500 0.96500 1 0 15147578 15147578 128074450 67139857 60934593 24044339 19987103 4057236 3423775 2534274 889501 81028908 Investments Held for Long-Term Purposes 20393034 C 20393034 Note Payable 2500000 Other Liabilities 2230226 4730226 50624959 40500 114066 154566 50470393 15091173 15091173 65561566 50198799 73155 73155 50125644 15091173 15091173 65216817 Part V, Line 4: The College's endowment consists of 168 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 73,155. Change in Value of Perpetual Trusts Held By Others 40,911. Part XI, Line 4b - Other Adjustments: Scholarships & Other Student Aid 15,091,173. Part XII, Line 2d - Other Adjustments: Fundraising Events Expenses 73,155. Part XII, Line 4b - Other Adjustments: Scholarships & Other Student Aid 15,091,173. 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 06/30/2018. 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. 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. Inaugural Gala 167438 29388 138050 2500 3800 34976 Title Sponsors 125000 55000 70000 3 89958 500 89458 31879 382396 84888 297508 2500 3800 66855 73155 224353 1 Benedict-Allen Community Development Corp 1600 Harden Street Columbia SC 29204 571016592 501(c)(3) 10000 Community improvement 1 0 Scholarships & Financial Aid 1740 15238564 Part I, Line 2: The College grants to Benedict-Allen Community Development Corporation whose Chairman of the board is the College's President. Through this relationship, the College has oversight of the use of the grant funds. 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. Solomon Jackson Board Member Operating Cash X 210000 210000 0 1 1 210000 X 45000 FMV X Laptops 1 7600 FMV X Furniture 1 2800 FMV 0 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 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 recieve a benefit or a gain. 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 15a Question 15a - 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. 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 conjuction 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. Question 15b - The organization does not compensate any officers or key employees. Therefore, these lines were answered 'no' in accordance with the instructions. 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 06/30/2018. 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, Part X, Lines 27-29: Line 27 - Net assets without donor restrictions $17,913,525 Line 29 - Net assets with donor restrictions $14,429,165 ----------- Total net assets $32,342,690 Form 990, Part XI, line 9: Change in Value of Perpetual Trusts Held By Others 40,911. Form 990, Part XII, Line 2c: The organization's Board assumes responsibility for oversight of the audit of its financial statements and selection of its independent accountant. This process has not changed since the prior year. Benedict-Allen Community Development Corp 1600 Harden Street Columbia SC 29204 571016592 Expanding opportunities for business SC 501(c)(3) Line 7 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Benedict-Allen Community Development Corp B