2016-04-28T12:59:52-05:00 2015-06-30 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 1000 CHARLOTTE NC 28204 990 2014-07-01 570314380 CONVERSE COLLEGE CONV 8645969000 580 EAST MAIN STREET SPARTANBURG SC 29302 ELIZABETH FLEMING PRESIDENT 8645969000 2016-04-22 1 JANICE A RATICA P00358837 7043771678 2014 2016-08-17 19:52:53Z ELIZABETH FLEMING 580 EAST MAIN STREET SPARTANBURG SC 29302 61858820 0 X WWW.CONVERSE.EDU X 1889 SC CONVERSE COLLEGE IS A LIBERAL ARTS COLLEGE FOR WOMEN WHICH OFFERS UNDERGRADUATE AND CO-ED GRADUATE DEGREES. CONVERSE IS COMMITTED TO DEVELOPING ADAPTABLE INDIVIDUALS FOR THE 21ST CENTURY WHO ARE EQUIPPED WITH THE CHARACTER, KNOWLEDGE, SKILLS AND PERSPECTIVE TO TRANSFORM THE WORLD AROUND THEM. THE COLLEGE HAS APPROXIMATELY 1,240 STUDENTS ENROLLED. 32 32 750 32 0 0 12428754 9128882 27325363 21291858 6645982 6711187 622907 847817 47023006 37979744 14639189 8031860 0 0 14842796 14546994 0 0 1689368 12847994 13613977 42329979 36192831 4693027 1786913 156259675 159366930 36922094 42026684 119337581 117340246 X THE PRIMARY MISSION OF CONVERSE COLLEGE IS THE LIBERAL ARTS EDUCATION OF UNDERGRADUATE WOMEN IN A RESIDENTIAL SETTING. STUDENTS PURSUE RICHLY DIVERSE PROGRAMS IN LIBERAL ARTS AND CAREER PREPARATIONS. CONVERSE BELIEVES THAT THE FOUNDER'S IDEAL IS TO CALL TO ARMS TO DEVELOP ENGAGED LEADERS WHO THINK CRITICALLY AND CREATIVELY AND AFFECT POSITIVE CHANGE IN THE WORLD. TODAY, INNOVATIVE PROGRAMS FOR GRADUATE AND ADVANCED STUDY COMPLEMENT THE UNDERGRADUATE PROGRAM. 0 0 26281205 8031860 16445761 FOUNDED IN 1889, CONVERSE COLLEGE DEVELOPS ADAPTABLE LEADERS WHO ARE EQUIPPED WITH THE CREATIVITY, CHARACTER, KNOWLEDGE AND PERSPECTIVE TO TRANSFORM THE WORLD AROUND THEM. CONSISTENTLY TOP-RANKED BY "U.S. NEWS AND WORLD REPORT", CONVERSE IS A WOMEN'S COLLEGE THAT OFFERS CO-EDUCATIONAL GRADUATE PROGRAMS. CONVERSE STUDENTS DEVELOP THEIR UNIQUE VOICES THROUGH A CHALLENGING LIBERAL ARTS CURRICULUM, THE DANIELS CENTER FOR LEADERSHIP AND SERVICE, A CENTURY-OLD HONOR TRADITION, AND A CLOSE-KNIT RESIDENTIAL COMMUNITY. THE COLLEGE HAS APPROXIMATELY 1,240 STUDENTS ENROLLED. 3927077 5428547 CONVERSE COLLEGE IS A RESIDENTIAL COLLEGE, MEANING ON-CAMPUS LIVING IS A VALUABLE EXPERIENCE WHERE IN AND OUT OF CLASS LEARNING MERGE. FROM HISTORIC CHARM TO MODERN EASE, CONVERSE'S RESIDENCE HALLS OFFER DIVERSE OPTIONS TO SUIT THE NEEDS AND PREFERENCES OF TODAY'S STUDENTS. LIVING IN A RESIDENCE HALL COMMUNITY OFFERS STUDENTS OPPORTUNITIES TO LEARN ABOUT THEMSELVES AND OTHERS. EACH RESIDENCE HALL HAS STUDENT DEVELOPMENT STAFF, PROGRAMMING AND FACILITIES AVAILABLE TO HELP EACH STUDENT. CONVERSE'S RESIDENTIAL COMMUNITIES ARE MORE THAN JUST PLACES TO HANG OUT WHEN STUDENTS AREN'T IN CLASS. THEY ARE WHERE STUDENTS FEEL THE MOST AT HOME AND DEVELOP RELATIONSHIPS WITH PEERS IN A COMMUNITY. 30208282 1 1 0 0 0 0 0 1 0 1 1 1 0 1 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 75 0 1 750 1 0 0 0 0 0 0 0 0 0 0 X 32 32 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X DIANNE CROCKER CONTROLLER 8645969028 580 EAST MAIN STREET SPARTANBURG SC 29302 ELLEN ASHERMAN TRUSTEE 1.00 X 0 0 0 MARY BOYD TRUSTEE 1.00 X 0 0 0 SUZAN BOYD PHD TRUSTEE 1.00 X 0 0 0 ANNA CONVERSE TRUSTEE 1.00 X 0 0 0 TAMMY DEVINE TRUSTEE 1.00 X 0 0 0 CALEB FORT TRUSTEE 1.00 X 0 0 0 BETSY GRIFFITH TRUSTEE 1.00 X 0 0 0 TOM HANNAH TRUSTEE 1.00 X 0 0 0 PHYLLIS HARRIS TRUSTEE 1.00 X 0 0 0 MAJOR GENERAL PAT HICKERSON TRUSTEE 1.00 X 0 0 0 KEN HOWARD TRUSTEE 1.00 X 0 0 0 ANN JACKSON TRUSTEE 1.00 X 0 0 0 THE HONORABLE DEADRA JEFFERSON TRUSTEE 1.00 X 0 0 0 DAVID JOHNSON TRUSTEE 1.00 X 0 0 0 SUSANNA JOHNSON TRUSTEE 1.00 X 0 0 0 DR ROSE JOHNSTON TRUSTEE 1.00 X 0 0 0 KIM KENT TRUSTEE 1.00 X 0 0 0 DR JOE LESESNE TRUSTEE 1.00 X 0 0 0 FAIN MCDANIEL TRUSTEE 1.00 X 0 0 0 JOHN MONTGOMERY TRUSTEE 1.00 X 0 0 0 SANDRA MORELLI TRUSTEE 1.00 X 0 0 0 HARRIET O'NEILL TRUSTEE 1.00 X 0 0 0 RICHARD PENNELL JR TRUSTEE 1.00 X 0 0 0 JAYNE REUBEN PHD TRUSTEE 1.00 X 0 0 0 MIKE RUSS TRUSTEE 1.00 X 0 0 0 JANE SCHWAB TRUSTEE 1.00 X 0 0 0 JULIE STAGGS TRUSTEE 1.00 X 0 0 0 DWIGHT VAN INWEGEN TRUSTEE 1.00 X 0 0 0 BEN WALL CHAIR 1.00 X X 0 0 0 SUSAN WEAN VICE CHAIR 1.00 X X 0 0 0 MARSHA GIBBS SECRETARY 1.00 X X 0 0 0 PATRICK O'SHAUGHNESSY TREASURER 1.00 X X 0 0 0 DR ELIZABETH FLEMING PRESIDENT 40.00 X 272960 0 50927 DR JEFFERY BARKER VP OF ACADEMIC AFFAIRS 40.00 X 135792 0 27621 ROBERT STEWART VP OF INSTITUTIONAL ADVANCEMENT 40.00 X 98481 0 25050 MOLLY DUESTERHAUS VP OF STUDENT AFFAIRS 40.00 X 100842 0 7006 ROBIN LESLIE VP OF FINANCE AND ADMINISTRATION 40.00 X 129800 0 25766 THOMAS MCDANIEL SENIOR VICE PRESIDENT 40.00 X 63750 0 3948 SALLY HAMMOND VP OF ENROLLMENT AND MARKETING 40.00 X 63492 0 15528 JOE DUNN PROFESSOR AND DIRECTOR OF SUMMER PROGRAM 40.00 X 123539 0 13718 MICHAEL KENNEDY ASSISTANT VP FOR PHILANTHROPY 40.00 X 119491 0 26408 CATHERINE INABNIT ASSOCIATE VP OF DEVELOPMENT 40.00 X 111060 0 13354 RICHARD HIGGS DEAN OF PETRIE SCHOOL OF MUSIC 40.00 X 112950 0 18116 RICHARD MULKEY PROFESSOR 40.00 X 101293 0 22824 1433450 0 250266 9 0 1 0 HARPER CONSTRUCTION 35 WEST COURT STREET SUITE 400 GREENVILLE SC 29601 CONSTRUCTION 5441943 SODEXO DINING 580 E MAIN STREET SPARTANBURG SC 29302 DINING SERVICES 1733546 SODEXO FACILITIES 580 E MAIN STREET SPARTANBURG SC 29302 FACILITIES 1506049 BRAILSFORD & DUNLAVEY 1140 CONNECTICUT AVENUE NW SUITE 4 WASHINGTON DC 20036 PROJECT MANAGEMENT 169149 RICOH USA INC PO BOX 534777 ATLANTA GA 303534777 COPY SERVICES 151860 11 4832196 4296686 658718 9128882 TUITION AND FEES 611710 15863311 15863311 ROOM AND BOARD 532000 5428547 5428547 21291858 1004002 1004002 152486 177521 -25035 -25035 -25035 29408740 23701555 5707185 5707185 5707185 SUMMER WORKSHOPS 532000 413896 413896 ALUMNAE/CAMPUS LIFE 900099 168554 168554 MISCELLANEOUS INCOME 900099 69594 69594 220808 220808 872852 37979744 21874308 0 6976554 8031860 8031860 817035 354502 278706 183827 10975381 8780305 1646307 548769 569895 455916 85484 28495 1341143 1072915 201171 67057 843540 674832 126531 42177 50886 50886 62437 62437 2066976 1550232 310046 206698 311215 217851 46682 46682 517935 414348 77690 25897 1305069 1109309 130507 65253 108075 91864 10807 5404 1378398 1171638 137840 68920 2564165 2179540 256417 128208 306970 306970 FOOD SERVICE 1471008 1250357 147101 73550 MACHINE SERVICE AND CON 360142 306121 36014 18007 UPGRADES/RENOVATIONS 187378 159271 18738 9369 BANK CHARGES 91484 91484 2831839 2387421 273363 171055 36192831 30208282 4295181 1689368 1965293 1867475 9925705 7280106 225492 277389 1211852 1238145 671065 155785 100639954 44652031 51734131 55987923 78624984 79107010 11901153 13453097 156259675 159366930 4830738 2820379 706896 557828 27962157 35410000 1707463 1480672 1714840 1757805 36922094 42026684 X 20030666 17781144 19084189 18575893 80222726 80983209 119337581 117340246 156259675 159366930 X 1786913 -4483890 699642 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 80222726 897778 -137295 80983209 78236360 1436627 549739 80222726 76896319 1024573 315468 78236360 76936109 205880 -245670 76896319 74163127 2104306 668676 76936109 0.00000 1.00000 0.00000 0 0 1877496 1877496 80653771 31774558 48879213 18006345 12877473 5128872 102342 102342 55987923 ALTERNATIVE INVESTMENTS 28385670 F CORPORATE STOCKS 40787375 F MONEY MARKET FUNDS 9894338 F CORPORATE BONDS 39627 F 79107010 CONTRIBUTIONS RECEIVABLE FROM CRT'S 7686596 PERPETUAL TRUST HELD BY THIRD PARTY 4593650 MISCELLANEOUS RECEIVABLES 116056 PROPERTY HELD FOR SALE 378105 BOND ISSUE COSTS 678690 13453097 POST-RETIREMENT BENEFITS 110387 OBLIGATIONS FROM SPLIT INTEREST AGREEMENTS 151018 REVOLVING PERKINS LOAN LIABILITY 1284266 ASSET RETIREMENT OBLIGATION 212134 1757805 X 26341157 -4483890 877163 -3606727 29947884 8031860 8031860 37979744 28338492 177521 177521 28160971 8031860 8031860 36192831 PART III, LINE 4: ALL ART WORK IS ON PUBLIC EXHIBIT AND CAN BE VIEWED BY STUDENTS, FACULTY, STAFF AND OTHERS IN THE COMMUNITY. PART V, LINE 4: THE INTENDED USES OF CONVERSE COLLEGE'S ENDOWMENT FUNDS ARE FOR SCHOLARSHIPS, PROFESSORSHIPS, STUDENT ACADEMIC TRAVEL, STAFF/FACULTY DEVELOPMENT AND EXCELLENCE, THE LIBRARY, BUILDINGS AND EQUIPMENT MAINTENANCE, MINISTRY, AND OTHER ACADEMIC PROGRAMS. PART X, LINE 2: THE COLLEGE IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE COLLEGE HAS EVALUATED THE EFFECT OF US GAAP GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT BELIEVES THAT THE COLLEGE CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION. MANAGEMENT ALSO BELIEVES THAT THERE ARE NO OTHER UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2015 AND 2014. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 699,642. RENTAL EXPENSES 177,521. PART XI, LINE 4B - OTHER ADJUSTMENTS: GOVERNMENT GRANTS 4,832,196. STUDENT FINANCIAL AID 3,199,664. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 177,521. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND ALLOCATIONS 8,031,860. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 CONVERSE COLLEGE PRINTS A NONDISCRIMINATORY CLAUSE ON ALL MAJOR PUBLICATIONS, INCLUDING BUT NOT LIMITED TO EMPLOYMENT APPLICATIONS, COURSE CATALOGS, ADMISSION APPLICATIONS, AND THE COLLEGE'S WEBSITE, AS REQUIRED BY THE OFFICE OF CIVIL RIGHTS. THE COLLEGE ALSO PUBLISHES THEIR RACIAL NON-DISCRIMINATION POLICY IN THE LOCAL PAPER ANNUALLY. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FUNDS FROM THE US DEPARTMENT OF EDUCATION AND SOUTH CAROLINA DEPARTMENT OF REVENUE ON BEHALF OF STUDENTS WHO QUALIFY FOR THESE FUNDS. AMOUNTS RECEIVED ARE APPLIED TO THE STUDENT'S ACCOUNT TO COVER TUITION AND FEES. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 33902923 0 0 0 0 0 0 33902923 0 33902923 1 0 1 0 1 0 SCHEDULE F, PART IV, LINE 3: ALTHOUGH THE ORGANIZATION HAD OWNERSHIP IN CERTAIN FOREIGN CORPORATIONS (INVESTMENTS) DURING THE YEAR, THE OWNERSHIP INTERESTS WERE NOT HIGH ENOUGH TO RENDER THE FILING OF FORM 5471. SCHEDULE F, PART IV, LINE 5: ALTHOUGH THE ORGANIZATION HAD AN OWNERSHIP IN CERTAIN FOREIGN PARTNERSHIPS (INVESTMENTS) DURING THE YEAR, THE OWNERSHIP INTERESTS WERE NOT HIGH ENOUGH TO RENDER THE FILING OF FORM 8865. 1 GRANTS AND SCHOLARSHIPS TO ATTEND CONVERSE COLLEGE 623 4832196 3199664 TUITION RATES FINANCIAL AID PART I, LINE 2: PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS: FINANCIAL AID GUIDELINES ARE UTILIZED TO DETERMINE THE QUALIFICATIONS OF EACH RECIPIENT. THE GUIDELINES ARE PUBLISHED IN CONVERSE COLLEGE'S ACADEMIC CATALOG AND COMPLY WITH ELIGIBILITY REQUIREMENTS PUBLISHED BY THE U.S. DEPARTMENT OF EDUCATION AND THE SOUTH CAROLINA DEPARTMENT OF REVENUE. ANNUAL COMPLIANCE AUDITS ARE COMPLETED BY AN INDEPENDENT ACCOUNTING FIRM. THE GRANTS AND SCHOLARSHIPS ARE APPLIED BY THE FINANCIAL AID DEPARTMENT DIRECTLY AGAINST THE STUDENT'S ACCOUNT. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 DR ELIZABETH FLEMING PRESIDENT 272960 0 0 0 0 0 18233 0 32694 0 323887 0 0 0 DR JEFFERY BARKER VP OF ACADEMIC AFFAIRS 135792 0 0 0 0 0 9505 0 18116 0 163413 0 0 0 ROBIN LESLIE VP OF FINANCE AND ADMINISTRATION 129800 0 0 0 0 0 8750 0 17016 0 155566 0 0 0 PART I, LINE 1A ALL OF THE PRESIDENT'S COMPENSATION PACKAGE IS WRITTEN IN HER ANNUAL COMPENSATION CONTRACT AND IS REVIEWED BY THE EXECUTIVE COMPENSATION COMMITTEE. THE COLLEGE PROVIDES HOUSING AND WEEKLY HOUSEKEEPING SERVICES TO THE PRESIDENT FOR THE CONVENIENCE OF THE EMPLOYER SO THAT THE PRESIDENT CAN PERFORM ESSENTIAL COLLEGE BUSINESS AND ACTIVITIES AT THE HOME. A SC JOBS ECONOMIC DEVELOPMENT AUTHORITY 570960018 2014-12-19 35410000 CAPITAL IMPROVEMENTS AND REFINANCE 0 0 0 A 20842000 35410000 708200 2015 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 A 0 0 0 1 0 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: SC JOBS ECONOMIC DEVELOPMENT AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 12/19/2014 X 18 658718 STOCK PRICE 0 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 IN ORDER TO PROTECT THE PRIVACY OF ITS DONORS, A PUBLIC DISCLOSURE COPY OF THE 990 IS TO BE PRESENTED TO THE AUDIT COMMITTEE FOR REVIEW AND APPROVAL AND IS PROVIDED TO THE BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST QUESTIONNAIRES ARE COMPLETED ANNUALLY BY TRUSTEES, OFFICERS, AND KEY EMPLOYEES AND TRANSACTIONS ARE MONITORED BY MANAGEMENT. A BOARD MEMBER DOES RECUSE HIMSELF/HERSELF IN THE EVENT OF A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMPENSATION COMMITTEE REVIEWS THE PRESIDENT'S CONTRACT AND SETS THE COMPENSATION PACKAGE. COMPENSATION DATA IS GATHERED FROM OTHER UNIVERSITIES, PUBLISHED SURVEYS, AND OTHER FORM 990S. THE PRESIDENT ALSO GETS AN EVALUATION FROM THE COMMITTEE. ALL DECISIONS MADE BY THE EXECUTIVE COMPENSATION COMMITTEE ARE DISCUSSED IN EXECUTIVE SESSION WITH THE BOARD OF TRUSTEES. CHAIRMAN OF THE BOARD OF TRUSTEES GIVES THE VICE PRESIDENT OF FINANCE AND ADMINISTRATION WRITTEN DOCUMENTATION OF THE DISCUSSION AND DECISION OF THE COMPENSATION PACKAGE OF THE PRESIDENT. KEY EMPLOYEES AND OTHER OFFICERS' SALARIES ARE REVIEWED ANNUALLY BY THE PRESIDENT AND THE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION SURVEY IS USED TO HELP DETERMINE THEIR COMPENSATION PACKAGES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, AUDITED FINANCIAL STATEMENTS AND KEY POLICIES ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 699,642. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE IS RESPONSIBLE FOR THE ANNUAL AUDIT AND THE SELECTION OF THE AUDITORS. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. STANDARD CHARITABLE REMAINDER UNITRUST (4) TRUST SC CONVERSE COLLEGE T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0