2016-03-14T20:23:32-05:00 2015-05-31 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 1000 CHARLOTTE NC 28204 990 2014-06-01 560530251 CATAWBA COLLEGE CATA 7046374463 2300 W INNES STREET SALISBURY NC 28144 NELSON A MURPHY VP OF BUSINESS AND FINANCE 7046374463 2016-03-04 1 JANICE A RATICA P00358837 7043771678 2014 2016-08-17 19:52:53Z BRIEN LEWIS 2300 W INNES STREET SALISBURY NC 28144 65632917 0 X WWW.CATAWBA.EDU X 1925 NC CATAWBA COLLEGE WAS FOUNDED IN NEWTON, NORTH CAROLINA, IN 1851 BY THE GERMAN REFORMED CHURCH. THE COLLEGE - WHICH IS TODAY AFFILIATED WITH THE UNITED CHURCH OF CHRIST - MOVED TO ITS PRESENT LOCATION IN SALISBURY IN 1925. THE COLLEGE ENDEAVORS TO ATTRACT STUDENTS BOTH NATIONALLY AND INTERNATIONALLY OF GOOD ABILITY AND CHARACTER. A PRIVATE, CO-EDUCATIONAL INSTITUTION, CATAWBA OFFERS THE BACHELOR OF ARTS, BACHELOR OF ARTS-EDUCATION, BACHELOR OF BUSINESS ADMINISTRATION, BACHELOR OF FINE ARTS, BACHELOR OF SCIENCE, AND MASTER OF EDUCATION TO TRADITIONAL AND NON-TRADITIONAL STUDENTS. THE COLLEGE ALSO SERVES THE PUBLIC THROUGH EDUCATIONAL OUTREACH AND VOLUNTEER SERVICE PROGRAMS FOR THE WORLD COMMUNITY. 31 29 953 31 0 0 12656280 22817503 35484964 37473814 812362 3203552 1120525 1175156 50074131 64670025 14700826 16168293 0 0 15811985 16563690 0 0 684554 15920387 14497127 46433198 47229110 3640933 17440915 122284523 138454453 30471557 28482104 91812966 109972349 X CATAWBA COLLEGE IS COMMITTED TO PROVIDING STUDENTS AN EDUCATION RICH IN PERSONAL ATTENTION THAT BLENDS THE KNOWLEDGE AND COMPETENCIES OF LIBERAL STUDIES WITH CAREER PREPARATION. CATAWBA COLLEGE DRAWS STRENGTH FROM JUDEO-CHRISTIAN VALUES, SUSTAINS A DYNAMIC COMMUNITY OF LEARNERS AND SEEKS TO UNITE A DIVERSE POPULATION OF STUDENTS, FACULTY AND STAFF AS ACTIVE CO-PARTICIPANTS IN SCHOLARSHIP AND SERVICE. CATAWBA COLLEGE PREPARES STUDENTS TO REACH THEIR HIGHEST POTENTIAL WHILE BECOMING RESPONSIBLE CITIZENS WITH ZEAL TO ENRICH HUMAN LIFE. 0 0 23357404 38648970 SERVICES PROVIDED FOR 1,316 UNDERGRADUATE LIBERAL ARTS STUDENTS INCLUDING INSTRUCTIONAL, ATHLETIC, OPERATIONS, ETC. 16168293 16168293 STUDENT AID - PROVIDED 1,239 SCHOLARSHIPS FOR WORTHY AND NEEDY STUDENTS. 39525697 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 86 0 953 1 0 0 0 0 0 0 0 0 0 0 X 31 29 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 1 0 NC X NELSON A MURPHY 7046454535 2300 W INNES STREET SALISBURY NC 28144 C SHUFORD ABERNETHY MEMBER 1.00 X 0 0 0 BARBARA KERSHNER DANIEL MEMBER 1.00 X 0 0 0 GREGORY M ALCORN MEMBER 1.00 X 0 0 0 JAMES C DAYVAULT MEMBER 1.00 X 0 0 0 TOM E BURDETTE MEMBER 1.00 X 0 0 0 ROBERT B ARNOLD MEMBER 1.00 X 0 0 0 MICHAEL S BAUK MEMBER 1.00 X 0 0 0 DANIEL T BROSS MEMBER 1.00 X 0 0 0 EDWARD A BROWN MEMBER 1.00 X 0 0 0 LARRY CLONINGER MEMBER 1.00 X 0 0 0 SARA D COOK MEMBER 1.00 X 0 0 0 NANCY F COUNCILL MEMBER 1.00 X 0 0 0 DOLAN HUBBARD MEMBER 1.00 X 0 0 0 CHARLES G POTTS MEMBER 1.00 X 0 0 0 BRYAN JORDAN MEMBER 1.00 X 0 0 0 ABBY KERR MEMBER 1.00 X 0 0 0 MIKE WILSON PROFESSOR 40.00 X 108421 0 32628 RALPH A KETNER MEMBER 1.00 X 0 0 0 JULIAN H ROBERTSON JR MEMBER 1.00 X 0 0 0 BARRY D LEONARD MEMBER 1.00 X 0 0 0 LYNNE SCOTT SAFRIT MEMBER 1.00 X 0 0 0 BARBARA MARSHALL MEMBER 1.00 X 0 0 0 RICHARD J SEIWELL MEMBER 1.00 X 0 0 0 WADE H SHUFORD JR MEMBER 1.00 X 0 0 0 ROBERT P MCLEOD MEMBER 1.00 X 0 0 0 RONALD L SMITH MEMBER 1.00 X 0 0 0 TOM E SMITH MEMBER 1.00 X 0 0 0 CA MICHAEL III MEMBER 1.00 X 0 0 0 FRED J STANBACK JR MEMBER 1.00 X 0 0 0 SAMUEL A PENNINGER JR MEMBER 1.00 X 0 0 0 BENJAMIN B PEELER MD MEMBER 1.00 X 0 0 0 CHARLES TAYLOR MEMBER 1.00 X 0 0 0 MONA LISA WALLACE MEMBER 1.00 X 0 0 0 MARTHA K WEST MEMBER 1.00 X 0 0 0 DARLENE L BALL CHAIRMAN OF THE BOARD 1.00 X X 0 0 0 WILLIAM M GRAHAM VICE CHAIRMAN 1.00 X X 0 0 0 DEBORAH W MESSINGER SECRETARY 1.00 X X 0 0 0 SALLY WHITNEY TREASURER 1.00 X X 0 0 0 BRIEN LEWIS PRESIDENT OF THE COLLEGE 40.00 X 251041 0 66468 CHARLES WILLIAMS VICE PRESIDENT OF FINANCE 40.00 X 123533 0 37282 NELSON A MURPHY VICE PRESIDENT OF FINANCE (CURRENT) 40.00 X 0 0 0 KENNETH CLAPP SR. VICE PRESIDENT 40.00 X 103698 0 34115 MICHAEL BITZER PROVOST 40.00 X 115773 0 37401 REX A OTEY VP OF DEVELOPMENT 40.00 X 99675 0 29902 CYNTHIA L BARR VP OF ENROLLMENT 40.00 X 40125 0 12038 LOIS H WILLIAMS VP OF ENROLLMENT 40.00 X 62740 0 18822 PAMELA THOMPSON DEAN SCHOOL OF BUSINESS 40.00 X 120557 0 32384 STEPHEN HIATT PROFESSOR 40.00 X 106755 0 30778 1132318 0 331818 7 0 1 0 CHARTWELLS DINING SERVICES 3 INTERNATIONAL DRIVE RYE BROOK NY 10573 DINING SERVICES 1849645 SUNDANCE POWER LLC 11 SALEM HILL ROAD WEAVERVILLE NC 28787 SOLAR SYSTEM PROJECT 1815461 FOLLETT HIGHER EDUCATION GROUP 3146 SOLUTION CENTER CHICAGO IL 60677 BOOKSTORE OPERATIONS 407060 INNOVATIVE DESIGN 850 W MORGAN ST RALEIGH NC 27603 CONSULTANT -SOLAR PROJECT 377057 ROYALWOOD ASSOCIATES INC PO BOX 91145 RALEIGH NC 27675 BASKETBALL COURT RENOVATION 217081 14 353968 22463535 732213 22817503 TUITION AND FEES 900099 29846044 29846044 AUXILLARY INCOME 900099 7344664 7344664 ATHLETIC INCOME 900099 283106 283106 37473814 1057908 1057908 3108536 962892 2145644 2145644 2145644 OTHER INCOME 900099 1175156 1175156 1175156 64670025 38648970 0 3203552 16168293 16168293 1032613 206522 619569 206522 11992580 9310116 2459273 223191 283768 198124 78170 7474 2384607 1743760 560382 80465 870122 674849 164515 30758 1980192 1253196 684828 42168 71276 42006 6116 23154 1412207 1095857 313300 3050 770570 643317 90266 36987 5048 5048 755091 641172 113919 2419898 2054812 365086 341602 425 341177 PROGRAM SUPPLIES 1536263 1536263 BAD DEBT EXPENSE 850007 850007 REPAIRS & MAINTENANCE 414318 91431 322887 STUDENT ACTIVITIES 39514 39514 3901141 2976033 899371 25737 47229110 39525697 7018859 684554 4383724 14249248 531053 9507562 487798 2710115 884312 1147945 88535 69164 241486 253955 110118124 53669152 54375611 56448972 53539559 46690844 301637 106199 7450808 7270449 122284523 138454453 1401452 1742598 1783490 1708566 22121964 20000000 5164651 5030940 30471557 28482104 X 24697561 25149294 22264743 38316640 44850662 46506415 91812966 109972349 122284523 138454453 X 17440915 844894 -126426 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 53348 1128 4091 1749 56818 48238 748 6302 1940 53348 42329 179 6442 712 48238 40975 1074 280 42329 31506 6128 5473 2132 40975 0.00000 0.79430 0.20570 0 0 2464723 2464723 77071639 39313237 37758402 28216654 14355915 13860739 2365108 2365108 56448972 BONDS 307640 F MUTUAL FUNDS 45993407 F CORPORATE STOCKS 199556 F REAL ASSET FUNDS 190241 F 46690844 LOANS TO STUDENTS, NET 2982008 LOAN COSTS, NET 239644 BENEFICIAL INTERESTS IN TRUSTS 3227337 CASH SURRENDER VALUE OF LIFE INSURANCE 821460 7270449 US GOVT LOAN FUNDS REFUNDABLE 2585400 ANNUITY PAYMENT LIABILITY 473662 LIABILITY UNDER TRUST AGREEMENTS 542229 DEPOSITS HELD FOR OTHERS 172544 ASSET RETIREMENT OBLIGATION 1201968 CAPITAL LEASE OBLIGATIONS 55137 5030940 X 45298180 -16168293 -16168293 61466473 3203552 3203552 64670025 31060817 0 31060817 16168293 16168293 47229110 PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO FURTHER THE HIGHER EDUCATION CAUSE. PART X, LINE 2: THE COLLEGE IS EXEMPT FROM FEDERAL AND STATE INCOME TAXATION UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC"). IN ACCORDANCE WITH IRC REGULATIONS, THE COLLEGE IS TAXED ON UNRELATED BUSINESS INCOME, WHICH CONSISTS OF EARNINGS FROM ACTIVITIES NOT RELATED TO THE EXEMPT PURPOSE OF THE COLLEGE. THE COLLEGE ACCOUNTS FOR TAX UNCERTAINTIES BASED ON A MORE LIKELY THAN NOT RECOGNITION THRESHOLD WHEREBY TAX BENEFITS ARE ONLY RECOGNIZED WHEN THE COLLEGE BELIEVES THAT THEY HAVE A GREATER THAN 50% LIKELIHOOD OF BEING SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE COLLEGE HAS EVALUATED ALL TAX POSITIONS AND DETERMINED THAT IT HAS NO UNCERTAIN INCOME TAX POSITIONS AS OF MAY 31, 2015 AND 2014. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS SHOWN NET OF TUITION REVENUE -16,168,293. PART XI, LINE 4B - OTHER ADJUSTMENTS: REALIZED GAIN ON INVESTMENTS 2,145,644. DIVIDEND AND INTEREST INCOME 1,057,908. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS SHOWN NET OF TUITION REVENUE 16,168,293. 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 POLICY IS INCLUDED IN ALL MEDIA AND IN ALL LITERATURE DISTRIBUTED. ADDITIONALLY, IT IS POSTED IN THE LOCAL NEWSPAPER WITH ALL JOB ADVERTISEMENTS (THIS IS DONE SEVERAL TIMES A YEAR). SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES ASSISTANCE FROM SEVERAL DIFFERENT GOVERNMENTAL AGENCIES. U.S. DEPARTMENT OF EDUCATION: FEDERAL PERKINS LOAN PROGRAM 84.038 FEDERAL WORK STUDY PROGRAM 84.033 FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT PROGRAM 84.007 FEDERAL DIRECT STUDENT LOANS 84.268 FEDERAL PELL GRANT PROGRAM 84.063 NATIONAL SCIENCE FOUNDATION: EDUCATION AND HUMAN RESOURCES 47.076 U.S. DEPARTMENT OF TRANSPORTATION: HIGHWAY PLANNING AND CONSTRUCTION 20.205 NORTH CAROLINA STATE EDUCATION ASSISTANCE AUTHORITY: NORTH CAROLINA NEED GRANT NC NATIONAL GUARD TUITION GRANT NORTH CAROLINA FORGIVABLE LOAN NORTH CAROLINA GOLDEN LEAF GRANT 1 SCHOLARSHIPS & TUITION DISCOUNTS 1239 16168293 PART I, LINE 2: PROCEDURES FOR APPLYING FOR FINANCIAL AID: WHENEVER POSSIBLE, CATAWBA COLLEGE WILL SUPPLEMENT THE FINANCIAL RESOURCES OF A STUDENT THROUGH MERIT PERFORMANCE-BASED AND NEED-BASED SCHOLARSHIPS AND GRANTS. A POTENTIAL STUDENT APPLIES AND IS ACCEPTED TO CATAWBA COLLEGE. AT THE TIME OF THEIR ACCEPTANCE, MERIT AID IS DETERMINED BY THE ADMISSIONS COUNSELOR ACCEPTING THE APPLICATION BASED ON A MATRIX CHART THAT HAS BEEN SET UP WITH REGARD TO GPA AND SAT SCORES, LIVING ON OR OFF CAMPUS, AND A SEPARATE TRANSFER STUDENT MATRIX. SCHOLARSHIPS ARE APPLIED DIRECTLY TO THE STUDENTS' ACCOUNT AND, THUS, MUST BE USED FOR EDUCATIONAL PURPOSES. WITH REGARDS TO ATHLETICS AT CATAWBA COLLEGE, THE FINANCIAL AID OFFICE MONITORS ALL ATHLETES TO MAKE SURE THEY DO NOT GO OVER CONFERENCE REGULATIONS REGARDING BOOKS AND SUPPLIES. CATAWBA COLLEGE REFERS TO THE NCAA DIVISION II MANUAL FOR POLICIES REGARDING STUDENT ATHLETES. THE FINANCIAL AID DIRECTOR SIGNS OFF ON THE SQUAD LISTS AND CHECKS FOR ELIGIBILITY WITH THE COMPLIANCE DIRECTOR AND, THE ASSOCIATE DIRECTOR OF FINANCIAL AID IS RESPONSIBLE FOR ENTERING THE ATHLETIC INFORMATION INTO THE CAI SYSTEM. THE CAI SYSTEM IS ALSO USED TO DETERMINE EQUIVALENCY COMPUTATIONS. X X X X 1 0 X X X 0 0 0 0 0 0 0 0 0 BRIEN LEWIS PRESIDENT OF THE COLLEGE 251041 0 0 0 0 0 8750 0 57718 0 317509 0 0 0 CHARLES WILLIAMS VICE PRESIDENT OF FINANCE 123533 0 0 0 0 0 4820 0 32462 0 160815 0 0 0 MICHAEL BITZER PROVOST 115773 0 0 0 0 0 4409 0 32992 0 153174 0 0 0 PAMELA THOMPSON DEAN SCHOOL OF BUSINESS 120557 0 0 0 0 0 0 0 32384 0 152941 0 0 0 PART I, LINE 1A MR. LEWIS [PRESIDENT] HAS, AS A PART OF HIS CONTRACT, HOUSING, UTILITIES, INSURANCE, CUSTODIAL SERVICE ETC. PAID FOR BY THE COLLEGE. HE IS THE ONLY EMPLOYEE WITH THESE BENEFITS. THIS RESIDENCE IS PROVIDED FOR THE CONVENIENCE OF THE COLLEGE IN HAVING THE FUNCTIONS OF THE OFFICE OF THE PRESIDENT EFFICIENTLY CONDUCTED AND AS A CONDITION OF EMPLOYMENT AS PRESIDENT OF THE COLLEGE. FOR THE BENEFIT AND CONVENIENCE OF THE COLLEGE, THE PRESIDENT'S RESIDENCE SHALL BE AVAILABLE, AND SHALL BE USED, FOR COLLEGE-RELATED BUSINESS AND ENTERTAINMENT ON A REGULAR AND CONTINUING BASIS. THE ORGANIZATION PAID $3,874 FOR MR. LEWIS'S COUNTRY CLUB DUES FOR 2014. THE CLUB IS USED FOR BUSINESS PURPOSES AND FUNDRAISING ACTIVITIES. THE PRESIDENT REIMBURSES THE COLLEGE FOR ANY PERSONAL USE PORTION. X 24 732213 FAIR MARKET VALUE 0 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 JIM DAYVAULT AND RICHARD SEIWELL HAVE A FAMILY RELATIONSHIP. JUNIE MICHAEL AND MONA WALLACE HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 A PUBLIC DISCLOSURE COPY OF THE FORM 990 WILL BE PROVIDED, PRIOR TO FILING, TO THE BOARD OF TRUSTEES TO PROTECT THE DONOR'S PRIVACY. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST STATEMENTS ARE SIGNED BY EACH MEMBER OF THE BOARD OF TRUSTEES ON AN ANNUAL BASIS. IN THE EVENT OF A POTENTIAL CONFLICT DURING THE YEAR, THAT MEMBER WILL REFRAIN FROM PARTICIPATING IN THE CONSIDERATION OF THE PROPOSED TRANSACTION IN QUESTION. THIS PERSON WILL NOT VOTE ON OR TAKE ANY POSITION FOR OR AGAINST THE PROPOSED TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 THE COLLEGE UTILIZES A "COMMITTEE OF THE PRESIDENCY OF THE BOARD OF TRUSTEES" THAT EVALUATES THE PRESIDENT ON PREDETERMINED GOALS AND THE ASSESSMENT OF POSITIVE ACHIEVEMENTS. THE COMMITTEE APPROVES AND DETERMINES THE PRESIDENTIAL SALARY AND SALARY INCREASES. THE PRESIDENT REVIEWS THE POSITIONS OF THE SENIOR VICE PRESIDENT OF DEVELOPMENT, VICE PRESIDENT OF ADMISSIONS, PROVOST AND THE VICE PRESIDENT OF FINANCE TO ESTABLISH SALARY LEVELS BASED ON PERFORMANCE. ALL DISCUSSIONS ARE DOCUMENTED IN THE MINUTES OF THE MEETING. CATAWBA USES INFORMATION FROM NORTH CAROLINA INDEPENDENT COLLEGES AND UNIVERSITIES (NCICU) AND THE COOPER STANDARD SALARY RESOURCE TO DETERMINE MARKET COMPARABLES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND THE FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTERESTS IN TRUSTS -94,993. CHANGE IN LIABILITY UNDER TRUST AGREEMENTS -31,433. CHARITABLE REMAINDER TRUST (4) INVESTMENT NC N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0