2014-04-30T14:43:02-05:00 2013-06-30 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVENUE SUITE 1000 CHARLOTTE NC 28204 990 2012-07-01 570314380 CONVERSE COLLEGE CONV 8645969000 580 EAST MAIN STREET SPARTANBURG SC 29302 ROBIN LESLIE 8645969000 2014-04-28 1 JANICE A RATICA P00358837 7043771678 2012 2015-11-30 17:44:51Z ROBIN LESLIE 580 EAST MAIN STREET SPARTANBURG SC 29302 51522945 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 1170 STUDENTS ENROLLED. 30 30 817 30 0 0 11213461 8943048 23994089 24830652 3301991 3637087 728049 676885 39237590 38087672 12386628 12852823 0 0 14324418 14380395 0 0 1669445 13409392 11779313 40120438 39012531 -882848 -924859 137571066 139480165 30320509 29388113 107250557 110092052 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 28902708 12852823 21125738 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 1,170 STUDENTS ENROLLED. 4318796 4127790 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. 33221504 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 74 0 1 817 1 0 0 0 0 0 0 0 0 0 0 X 30 30 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 1.00 X 0 0 0 THE HONORABLE BILL BARNET III 1.00 X 0 0 0 MARY RAINEY BELSER 1.00 X 0 0 0 SUZAN BOYD PHD 1.00 X 0 0 0 CHRIS CANNON 1.00 X 0 0 0 MARION CATO 1.00 X 0 0 0 DEXTER CLEVELAND 1.00 X 0 0 0 ANNA CONVERSE 1.00 X 0 0 0 TAMMY DEVINE 1.00 X 0 0 0 CALEB FORT 1.00 X X 0 0 0 MARSHA GIBBS 1.00 X X 0 0 0 BETSY GRIFFITH 1.00 X X 0 0 0 TOM HANNAH 1.00 X 0 0 0 MAJOR GENERAL PAT HICKERSON RET 1.00 X 0 0 0 KEN HOWARD 1.00 X 0 0 0 ANN JACKSON 1.00 X 0 0 0 THE HONORABLE DEADRA JEFFERSON 1.00 X 0 0 0 DAVID JOHNSON 1.00 X 0 0 0 KIM KENT 1.00 X 0 0 0 DR JOE LESESNE 1.00 X 0 0 0 FAIN MCDANIEL 1.00 X 0 0 0 JOHN MONTGOMERY 1.00 X 0 0 0 HARRIET O'NEILL 1.00 X 0 0 0 PATRICK O'SHAUGHNESSY 1.00 X 0 0 0 JAYNE REUBEN PHD 1.00 X 0 0 0 MIKE RUSS 1.00 X 0 0 0 JANE SCHWAB 1.00 X 0 0 0 BEN WALL 1.00 X X 0 0 0 SUSAN WEAN 1.00 X 0 0 0 BILLY WEBSTER 1.00 X 0 0 0 DR ELIZABETH FLEMING 40.00 X 260557 0 50233 DR JEFFERY BARKER 40.00 X 132094 0 24953 ROBERT STEWART 40.00 X 131000 0 30456 MOLLY DUESTERHAUS 40.00 X 96808 0 16829 THOMAS MCDANIEL 40.00 X 98756 0 11618 SALLY HAMMOND 40.00 X 94781 0 22340 JOE DUNN 40.00 X 115344 0 23437 CATHERINE INABNIT 40.00 X 108000 0 13140 RICHARD HIGGS 40.00 X 109650 0 15706 SUSAN MADDUX 40.00 X 140415 0 16968 1287405 0 225680 7 1 1 0 SODEXO FACILITIES 580 E MAIN ST SPARTANBURG SC 29302 FACILITIES 1505680 SODEXO DINING 580 E MAIN ST SPARTANBURG SC 29302 DINING SERVICES 1256637 JENZABAR PO BOX 55018 BOSTON MA 022055018 COMP SOFTWARE AND TRAINING 268096 NOEL LEVITZ 2350 OAKDALE BLVD CORALVILLE IA 522419702 MARKETING & CONSULTING 202674 RICOH PO BOX 534777 ATLANTA GA 303534777 COPIER SERVICE & REPAIRS 183666 8 4025286 4917762 627973 8943048 TUITION AND FEES 611710 20702862 20702862 ROOM AND BOARD 532000 4127790 4127790 24830652 1390628 1390628 187231 170915 16316 16316 16316 15510817 13264358 2246459 2246459 2246459 SUMMER WORKSHOPS 532000 269924 269924 ALUMNAE/CAMPUS LIFE 900099 152952 152952 MISCELLANEOUS INCOME 900099 60777 60777 176916 176916 660569 38087672 25253528 0 3891096 12852823 12852823 981251 389444 301097 290710 10582894 8466315 1587434 529145 537292 429833 80594 26865 1452534 1162027 217880 72627 826424 661139 123964 41321 59931 59931 50962 50962 2134226 1600670 320134 213422 173053 121137 25958 25958 513774 411019 77066 25689 1107541 941410 110754 55377 170174 144648 17017 8509 242589 206201 24259 12129 2343040 1991584 234304 117152 328441 328441 FOOD SERVICE 1134988 964740 113499 56749 MACHINE SERVICE AND CON 428979 364632 42898 21449 UPGRADES/RENOVATIONS 156077 132665 15608 7804 BANK CHARGES 115640 115640 2819898 2381217 274142 164539 39012531 33221504 4121582 1669445 1801732 1823862 9403691 8580797 125647 194066 1308736 1265829 647348 721956 86863890 40297884 47866696 46566006 67334083 70517534 9083133 9810115 137571066 139480165 4069753 3702299 556402 557475 21977000 21442000 1691427 1947482 2025927 1738857 30320509 29388113 X 14691025 16781957 15663213 15073735 76896319 78236360 107250557 110092052 137571066 139480165 X -924859 3300578 465776 X X 1 X 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 76896319 1024573 315468 78236360 76936109 205880 -245670 76896319 74163127 2104306 668676 76936109 72882586 930039 350502 74163127 71405312 2575362 -1098088 72882586 1.00000 0 0 1877496 1877496 66659516 28538232 38121284 17137844 11759652 5378192 1189034 1189034 46566006 ALTERNATIVE INVESTMENTS 19102623 F CORPORATE STOCKS 42546054 F MONEY MARKET FUNDS 7525197 F CORPORATE BONDS 1343660 F 70517534 CONTRIBUTIONS RECEIVABLE FROM CRT'S 5530665 PERPETUAL TRUST HELD BY THIRD PARTY 4181206 MISCELLANEOUS RECEIVABLES 98244 9810115 POST-RETIREMENT BENEFITS 120452 OBLIGATIONS FROM SPLIT INTEREST AGREEMENTS 188995 REVOLVING PERKINS LOAN LIABILITY 1202173 ASSET RETIREMENT OBLIGATION 227237 1738857 X 29172118 3300578 636691 3937269 25234849 12852823 12852823 38087672 26330623 170915 170915 26159708 12852823 12852823 39012531 PART III, LINE 4: ALL ART WORK IS ON PUBLIC EXHIBIT AND CAN BE VIEWED BY STUDENTS, FACULTY, STAFF AND OTHERS IN THE COMMUNITY. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: 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. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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 AT JUNE 30, 2013 AND 2012. THE COLLEGE'S FEDERAL EXEMPT ORGANIZATION TAX RETURNS FOR 2009, 2010 AND 2011 ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPLIT INTEREST AGREEMENT 465,776. RENTAL EXPENSE 170,915. PART XI, LINE 4B - OTHER ADJUSTMENTS: GOVERNMENT GRANTS 4,025,286. STUDENT FINANCIAL AID 8,827,537. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 170,915. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND ALLOCATIONS 12,852,823. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION 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. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE 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 INVESTMENTS 23927811 0 0 0 0 0 0 23927811 0 23927811 0 0 1 1 0 0 SCHEDULE F, PART IV, QUESTION 3: ALTHOUGH THE ORGANIZATION HAD OWNERSHIP IN CERTAIN FOREIGN CORPORATIONS (INVESTMENTS) DURING THE YEAR, THE INVESTMENTS AMOUNTS WERE NOT HIGH ENOUGH TO RENDER THE FILING OF FORM 5471. 1 GRANTS AND SCHOLARSHIPS TO ATTEND CONVERSE COLLEGE 568 12852823 0 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, 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 ELIGIBILTY 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 0 0 0 0 0 0 0 0 0 DR ELIZABETH FLEMING 260557 0 0 0 0 0 17364 0 32869 0 310790 0 0 0 DR JEFFERY BARKER 132094 0 0 0 0 0 9247 0 15706 0 157047 0 0 0 ROBERT STEWART 131000 0 0 0 0 0 8750 0 21706 0 161456 0 0 0 SUSAN MADDUX 140415 0 0 0 0 0 9829 0 7139 0 157383 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 2011-10-01 22387000 CAPITAL IMPROVEMENTS AND REFINANCE 0 0 0 A 22120000 22387000 267000 2012 1 0 1 1 A 0 0 0 0 1 0 1 A 0 0 0 1 1 1 WELLS FARGO BANK NA 10.000000000000 0 0 0 0 1 A 1 SCHEDULE K, PART IV LINE 2C THERE IS NO REBATE DUE. X 23 627973 STOCK PRICE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 990 REVIEW PROCESS: 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 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 DOCUMENTION 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 465,776. 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