2014-05-14T13:56:22-05:00 2013-06-30 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 1000 CHARLOTTE NC 28204 990 2012-07-01 570314408 PRESBYTERIAN COLLEGE PRES 8648332820 PO BOX 975 CLINTON SC 29325 SUSAN MADDUX 8648332820 2014-05-14 1 KELLIANNE F BENSON P01345659 7043771678 2012 2015-11-30 17:44:51Z CLAUDE C LILLY 503 S BROAD STREET CLINTON SC 29325 87254672 0 X WWW.PRESBY.EDU X 1880 SC PRESBYTERIAN COLLEGE EXISTS TO PROVIDE AN EDUCATION IN THE ARTS AND SCIENCES WITHIN A DISTINCTLY CHRISTIAN CONTEXT. THE PURPOSE IS SET FORTH WITH THE CONVICTION THAT EDUCATION IN THE LIBERAL ARTS TRADITION CAN BE ACHIEVED SUCCESSFULLY ONLY THROUGH AN ACADEMIC PROGRAM WHICH IS CHARACTERIZED BY EXCELLENCE AND THROUGH ACTIVITIES WHICH CONTRIBUTE TO GROWTH OF ABLE MINDS, SOUND BODIES, AND STRONG MORAL CHARACTER. THE COLLEGE CALLS FOR THE PURSUIT OF LEARNING TO TAKE PLACE IN AN ENVIRONMENT OF GENUINE INTELLECTUAL FREEDOM. PRESBYTERIAN COLLEGE SCHOOL OF PHARMACY PROVIDES PHARMACY EDUCATION WITH A LIBERAL ARTS COLLEGE APPROACH, INTEGRATING CLASSROOM LEARNING WITH PRACTICAL EXPERIENCE WHILE EMPHASIZING COMMUNITY, VALUING EACH STUDENT, AND FOCUSING ON PATIENT CARE. 33 32 941 250 581122 321067 5785257 4286162 52628760 57898832 1560884 3154158 282965 334969 60257866 65674121 25251551 24747914 0 0 19107337 20492496 0 0 930661 19018307 19491622 63377195 64732032 -3119329 942089 156762168 164396684 42325144 41656686 114437024 122739998 X SEE SCHEDULE O. 0 0 58763236 24747914 57603672 PRESBYTERIAN COLLEGE IS LOCATED ON A BEAUTIFUL 240-ACRE CAMPUS BETWEEN COLUMBIA AND GREENVILLE IN SOUTH CAROLINA. WITH SMALL CLASSES AND FACULTY WHO WANT THE BEST FOR THEIR STUDENTS, OUR SUPPORTIVE COMMUNITY PROVIDES MORE THAN AN EXCEPTIONAL LIBERAL ARTS UNDERGRADUATE EDUCATION TO 1157 FULL TIME EQUIVALENT STUDENTS INCLUDING ROOM AND BOARD FOR 1123 STUDENTS. PC SCHOOL OF PHARMACY ALSO PROVIDES A GRADUATE EDUCATION TO 231 FULL TIME EQUIVALENT STUDENTS. PC EMPOWERS STUDENTS TO BE SERVANT LEADERS IN THEIR COMMUNITIES THROUGH CHALLENGING ACADEMICS AND A CULTURE OF HONOR AND ETHICS. SINCE 1880, PC HAS BEEN PERSONALLY COMMITTED TO SUCCESS. AS A RESULT, 90 PERCENT OF OUR STUDENTS ARE IN GRADUATE PROGRAMS OF HAVE SECURED JOBS WITHIN SIX MONTHS OF GRADUATION. 58763236 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 1 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 1 0 1 1 0 0 0 0 1 0 0 0 1 171 0 1 941 1 1 1 0 0 0 0 1 1 0 0 0 0 X 33 32 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X DAWN DURHAM 8648338477 ON CAMPUS CLINTON SC 29325 DR WILLIAM D BREARLEY 1.00 X 0 0 0 DR KENNETH COUCH 1.00 X 0 0 0 MR W RUTLEDGE GALLOWAY 1.00 X 0 0 0 MR ROBERT H HOPKINS 1.00 X 0 0 0 MR WILLIAM KUHNE 1.00 X 0 0 0 MR WILLIAM C LOEBLE JR 1.00 X 0 0 0 MR LARRY W MASSEY 1.00 X 0 0 0 DR ALLEN C MCSWEEN 1.00 X 0 0 0 MR THOMAS R PARRISH 1.00 X 0 0 0 MRS ELOISE F SHEPARD 1.00 X 0 0 0 MR RICHARD P SPENCER 1.00 X 0 0 0 MR JOHN STROUD 1.00 X 0 0 0 DR THOMAS A WHITAKER 1.00 X 0 0 0 DR E LANE ALDERMAN 1.00 X 0 0 0 MRS ERNESTINE A GILLAM 1.00 X 0 0 0 MR THOMAS H MILTON 1.00 X 0 0 0 MR ROBERT M HICKLIN 1.00 X 0 0 0 MR LONNIE THOMPSON LAWSON III 1.00 X 0 0 0 MR WILLIAM M MATTHEWS 1.00 X 0 0 0 MR JAMES L MEDFORD 1.00 X 0 0 0 DR WELTON O'NEAL JR 1.00 X 0 0 0 MR JEFFREY G REYNOLDS 1.00 X 0 0 0 MR J MCNEILL SINGLETON 1.00 X 0 0 0 MR JAMES W SPRADLEY JR 1.00 X 0 0 0 MR THOMAS L THOMASON 1.00 X 0 0 0 MR ROLAND F YOUNG 1.00 X 0 0 0 MR JAMES D SAMPLES JR 1.00 X 0 0 0 MR C DOUGLAS WARNER 1.00 X 0 0 0 DR CHARLES C HEYWARD SR 1.00 X 0 0 0 MR JAMES H POWELL 1.00 X 0 0 0 MR DAVID F PARKER II 1.00 X X 0 0 0 MR G PATRICK PHILLIPS 1.00 X X 0 0 0 MR MATT SINGLETON 1.00 X X 0 0 0 DR CLAUDE LILLY 40.00 X 134605 0 29300 MORRIS GALLOWAY 40.00 X 128583 0 43220 ROBERT STATON 40.00 X 80335 0 6570 RICHARD STULL 40.00 X 153587 0 27012 ANITA GUSTAFSON 40.00 X 121708 0 21764 BRIAN REESE 40.00 X 121044 0 23688 DEBORAH THOMPSON 40.00 X 143657 0 21666 RAYMOND CARNLEY 40.00 X 123407 0 16197 LAVERNE FUHRMAN 40.00 X 141469 0 11019 JOHN JOHNSON 40.00 X 147907 0 21063 CHARLES ASBILL 40.00 X 135988 0 28527 GREGORY NIBERT 40.00 X 122070 0 27123 LAURA FOX 40.00 X 123433 0 19569 1677793 0 296718 19 1 1 0 SODEXO MANAGEMENT INC 401 S HOLLAND ST CLINTON SC 29325 FOOD SERVICE 2510401 THE BUDD GROUP PO BOX 890856 CHARLOTTE NC 282890856 FACILITIES 986476 BREWINGTON CONTRACTORS 100 SUNFLOWER LANE CLINTON SC 29325 FACILITIES/CONSTRUCTION 748026 RUFFALOCODY LLC PO BOX 3018 CEDAR RAPIDS IA 52406 ENROLLMENT MANAGEMENT 277872 ELLUCIAN SUPPORT INC 62578 COLLECTION CENTER DR CHICAGO IL 60693 SOFTWARE SUPPORT 241116 8 291865 3994297 109464 4286162 TUITION, ROOM AND BOARD 611310 55505940 55505940 ATHLETIC REVENUE 611310 1594830 1507434 87396 OTHER REVENUE 611310 588060 588060 SUMMER CONFERENCES 532000 210002 2238 207764 57898832 1709454 3640 1705814 11275 11275 32502 0 32502 32502 32502 23025255 21580551 1444704 1444704 1902 1442802 STANDARD CANDY K-1 311000 269145 269145 OTHER K-1S 900099 22047 22047 291192 65674121 57603672 581122 3203165 24747914 24747914 634266 334309 289650 10307 15794565 13727322 1596066 471177 1017591 843466 148548 25577 1920033 1715717 154323 49993 1126041 969429 121434 35178 78458 15135 63323 57605 57605 124785 124785 3348656 2531485 716944 100227 53676 36978 14209 2489 1793490 1580100 117637 95753 451772 155973 277281 18518 2303030 2106510 189539 6981 1898410 1870840 14001 13569 42676 34855 7046 775 813626 813626 3294490 3026728 255017 12745 618154 202305 415849 DINING HALL CHARGES AND 2656768 2560686 50465 45617 REPAIRS AND MAINTENANCE 1080523 877334 200572 2617 OTHER EXPENSES 875503 487739 348626 39138 64732032 58763236 5038135 930661 5227956 8767536 5489905 2721589 247804 168683 773404 615689 18825 736501 831366 103359098 46882834 58688911 56476264 75841106 84271147 1511300 1996604 97473 97473 8128983 8450333 156762168 164396684 6920763 5469784 11693 1099912 34591000 34286000 801688 800990 42325144 41656686 X 19386581 23446516 10313135 13219023 84737308 86074459 114437024 122739998 156762168 164396684 X 942089 8979579 -1618694 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 200 1 150 1 0 350 0 PART IV, SUPPLEMENTAL INFORMATION: SCHEDULE C, PART II-B, LINE 1 - PRESBYTERIAN COLLEGE, AS ONE OF TWENTY MEMBERS OF THE SOUTH CAROLINA INDEPENDENT COLLEGES AND UNIVERSITIES (SCICU) AND IN CONJUNCTION WITH THE SOUTH CAROLINA HIGHER EDUCATION TUITION GRANTS COMMISSION, PARTICIPATES IN THE TUITION GRANTS AWARENESS PROGRAM SPONSORED BY THESE TWO ORGANIZATIONS. THE COLLEGE STUDENTS TAKE PART IN AN ANNUAL WRITING CAMPAIGN, SHARING WITH THEIR RESPECTIVE STATE LEGISLATORS THE BENEFITS THAT TUITION GRANTS HAVE AFFORDED THE STUDENTS. THESE LETTERS PRECEDE THE SOUTH CAROLINA INDEPENDENT COLLEGE AND UNIVERSITY DAY-PROCLAIMED EACH SPRING BY THE GOVERNOR-WHEN SEVERAL PC STUDENTS VISIT THE STATE HOUSE AS GUESTS ALONG WITH OTHER STUDENTS FROM SCICU MEMBER INSTITUTIONS. A RECEPTION SPONSORED BY SCICU AFFORDS THE STUDENTS AN OPPORTUNITY TO MEET THEIR LEGISLATORS, AND THEY ARE ALSO RECOGNIZED AS SPECIAL GUESTS IN BOTH THE HOUSE AND SENATE CHAMBERS. 8797797 X X 0 75009975 4016979 9385825 3403372 1447832 116140 83445435 74965735 4047147 1224323 3419289 1724900 83041 75009975 65694233 3811664 13098422 5332248 2180953 125383 74965735 58859154 3231627 7783731 2489344 1462695 228240 65694233 84028567 2843755 -22563862 3229583 1936877 282846 58859154 0.10000 0.90000 0.00000 1 0 4209403 4209403 81082065 38714754 42367311 8375289 8143640 231649 9692341 24440 9667901 56476264 TRUST FUND ASSETS 5202217 CONTRIBUTIONS RECEIVABLE FROM TRUSTS 2059368 OTHER ASSETS 1188748 8450333 ADVANCES FROM FEDERAL GOVERNMENT 799698 TRUST LIABILITIES 1292 800990 X 48155559 8979579 -6748 8972831 39182728 124785 26366608 26491393 65674121 39859333 0 39859333 124785 24747914 24872699 64732032 PART III, LINE 4: THE COLLEGE'S COLLECTIONS ARE MADE UP OF LIBRARY BOOKS, ARTIFACTS OF HISTORICAL SIGNIFICANTS AND ART OBJECTS. THESE COLLECTIONS ARE HELD FOR PUBLIC EXHIBITION, EDUCATION, AND RESEARCH DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF APPROXIMATELY 760 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING SCHOLARSHIPS AND SUPPORT OF ACADEMIC AND SPORTS PROGRAMS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). DUE TO THIS DETERMINATION, THE COLLEGE IS ALSO EXEMPT FROM STATE INCOME TAXES. THE COLLEGE IS SUBJECT TO FEDERAL AND STATE INCOME TAXES ON ITS NET UNRELATED BUSINESS INCOME. THE COLLEGE ADOPTED THE PROVISIONS OF FASB GUIDANCE ON INCOME TAXES RELATED TO THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THIS GUIDANCE CLARIFIES ACCOUNTING FOR UNCERTAINTY IN A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN BY AN EIF IT TOOK A POSITION ABOUT TAXES DUE THAT WAS LIKELY TO BE DISPUTED AND HAD A REASONABLE CHANCE OF BEING OVERRULED BY A TAXING AUTHORITY. MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF JUNE 30, 2013 AND 2012 AND ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. TAX YEARS ENDED JUNE 30, 2010 OR LATER REMAIN OPEN TO EXAMINATION BY TAXING AUTHORITY. PART XI, LINE 2D - OTHER ADJUSTMENTS: FOUNDATION REVENUES -6,748. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS SHOWN NET OF REVENUE ON FINANCIALS 24,747,914. K-1 REVENUES NOT INCLUDED ON FINANCIALS 1,618,694. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS SHOWN NET OF REVENUE ON FINANCIALS 24,747,914. 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 THE COLLEGE PUBLISHES IN THE OFFICIAL RECRUITING LITERATURE THE FOLLOWING: PRESBYTERIAN COLLEGE DOES NOT DISCRIMINATE AGAINST ANY APPLICANT OR STUDENT ON THE BASIS OF RACE, SEX, RELIGION, NATIONAL ORIGIN OR HANDICAP. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 PRESBYTERIAN COLLEGE STUDENTS MAY RECEIVE TITLE IV AID, FEDERAL LOANS AND/OR SC TUITION GRANT ASSISTANCE. SUB-SAHARAN AFRICA 0 4 EDUCATIONAL PROGRAMS STUDENT AND FACULTY TRAVEL 143194 EUROPE (INCLUDING ICELAND & GREENLAND) 0 4 EDUCATIONAL PROGRAMS STUDENT AND FACULTY TRAVEL 71462 EAST ASIA AND THE PACIFIC 0 2 EDUCATIONAL PROGRAMS STUDENT AND FACULTY TRAVEL 143610 0 10 0 0 0 10 358266 0 358266 0 0 0 0 0 0 THE FOLLOWING WERE TRAVEL EXPENSES FOR STUDENTS AND FACULTY MEMBERS AS PART OF THEIR EDUCATIONAL PROGRAM: SOUTH AFRICA - 2 EMPLOYEES - $106,778 PORTUGAL - 2 EMPLOYEES - $8,662 NEW ZEALAND - 2 EMPLOYEES - $143,610 UNITED KINGDOM - 2 EMPLOYEES - $62,800 KENYA - 2 EMPLOYEES - $36,416 1 SCHOLARSHIPS TO ATTEND PRESBYTERIAN COLLEGE 1135 24747914 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: PRESBYTERIAN COLLEGE AWARDS SCHOLARSHIPS, GRANTS AND LOANS TO ITS STUDENTS. THE PROCEDURES FOR MONITORING THE USE OF THE FUNDS ARE PART OF THE FINANCIAL AID GUIDELINES AND THEY ARE UTILIZED TO DETERMINE THE QUALIFICATIONS OF THE RECIPIENT. THE GUIDELINES ARE PUBLISHED IN THE PRESBYTERIAN COLLEGE ACADEMIC CATALOG AND COMPLY WITH ELIGIBILITY REQUIREMENTS PUBLISHED BY THE US DEPARTMENT OF EDUCATION AND THE SC DEPARTMENT OF REVENUE. COMPLIANCE AUDITS ARE ALSO COMPLETED ANNUALLY BY AN INDEPENDENT ACCOUNTING FIRM. THE GRANTS AND SCHOLARSHIPS AWARDED ARE APPLIED DIRECTLY TO THE STUDENTS' ACCOUNTS. X X 1 1 X X X 1 0 0 0 0 0 0 0 0 DR CLAUDE LILLY 114105 0 0 0 20500 0 9545 0 19755 0 163905 0 0 0 MORRIS GALLOWAY 103983 0 0 0 24600 0 8737 0 34483 0 171803 0 0 0 RICHARD STULL 151327 0 0 0 2260 0 10656 0 16356 0 180599 0 0 0 DEBORAH THOMPSON 139089 0 0 0 4568 0 6525 0 15141 0 165323 0 0 0 LAVERNE FUHRMAN 134222 0 0 0 7247 0 0 0 11019 0 152488 0 0 0 JOHN JOHNSON 147907 0 0 0 0 0 11470 0 9593 0 168970 0 0 0 CHARLES ASBILL 133588 0 0 0 2400 0 11110 0 17417 0 164515 0 0 0 PART I, LINE 1A THE FORMER PRESIDENT OF THE COLLEGE, JOHN GRIFFITH, WAS A MINISTER. HE WAS PROVIDED A HOUSING ALLOWANCE. DR. CLAUDE LILLY BEGAN AS THE COLLEGE'S NEW PRESIDENT IN JULY 2012. HE IS PROVIDED A HOUSE AND CAR. THE COLLEGE PROVIDES HOUSING TO THE PRESIDENT FOR THE CONVENIENCE OF THE EMPLOYER SO THAT THE PRESIDENT CAN PERFORM ESSENTIAL COLLEGE BUSINESSS AND ACTIVITIES AT THE HOME. CLUB MEMBERSHIP IS USED FOR ENTERTAINING DONORS AND OTHERS FOR COLLEGE BUSINESS. PART I, LINE 3 THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES AFTER REVIEWING END OF THE YEAR EVALUATION. THE PROCESS IS PART OF A TWO DAY MEETING IN AUGUST. THE SALARY IS COMPARED WITH CUPA DATA FOR A COMPARISON ON SET OF SCHOOLS. PART I, LINE 4A THE FORMER PRESIDENT OF THE COLLEGE, JOHN GRIFFITH, RECEIVED SEVERANCE PAY OF $92,583 AND BENEFITS OF $26,820 DURING 2012. A EDUCATION FACILITIES AUTHORITY FOR PRIV 576000286 CUSIPNONE 2009-08-05 23500000 REFUND $27,000,000 BOND PARTIALLY 0 0 0 B EDUCATION FACILITIES AUTHORITY FOR PRIV 576000286 CUSIPNONE 2010-07-30 3550000 REFUND $27,000,000 BOND PARTIALLY 0 0 0 C EDUCATION FACILITIES AUTHORITY FOR PRIV 576000286 CUSIPNONE 2011-12-21 7871000 PHARMACY BOND AND REFINANCE BANK LOAN 0 0 0 A 330000 23500000 23500000 2009 1 0 1 1 B 3550000 50000 3500000 2009 1 0 1 1 C 7871000 114580 7756420 2010 1 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 0 C 0 0 1 1 0 0 0 0 A 1 1 1 SUNTRUST 5.000000000000 0 0 0 0 0 B 0 0 0 0 1 0 0 0 0 C 0 0 0 0 1 0 0 0 0 14340 TUITION DISCOUNT TUITION, ROOM AND BOARD AS AN EMPLOYEE BENEFITS 8750 MERIT SCHOLARSHIP TUITION, ROOM AND BOARD AS STUDENT AWARDS BBT INSURANCE THOMAS R PARRISH, TRUSTEE, IS REGIONAL PRESIDENT OF BBT INSURANCE 415245 THE COLLEGE PURCHASED INSURANCE FROM BBT INSURANCE. ALL TRANSACTIONS WERE AT ARM'S LENGTH AND FAIR MARKET VALUE. 0 X 15 109464 FMV 0 0 1 0 ORGANIZATION MISSION STATEMENT FORM 990, PART III, LINE 1: THE COMPELLING PURPOSE OF PRESBYTERIAN COLLEGE, AS A CHURCH RELATED COLLEGE, IS TO DEVELOP WITHIN THE FRAMEWORK OF CHRISTIAN FAITH THE MENTAL, PHYSICAL, MORAL AND SPIRITUAL CAPACITIES OF EACH STUDENT IN PREPARATION FOR A LIFETIME OF PERSONL AND VOCATIONAL FULFILLMENT AND RESPONSIBLE CONTRIBUTION TO OUR DEMOCRATIC SOCIETY AND THE WORLD COMMUNITY. THESE GOALS GUIDE THE COLLEGE IN ITS ATTEMPT TO FULFILL ITS MISSION: 1) TO HELP STUDENTS GAIN A BASIC KNOWLEDGE OF HUMANITIES, NATURAL SCIENCES, AND SOCIAL SCIENCES; A SPECIAL COMPETENCE IN ONE OR MORE PARTICULAR AREAS OF STUDY; AND THE ABILITY TO SEE THESE STUDIES AS PART OF THE LARGER SEARCH FOR TRUTH 2) TO DEVELOP IN STUDENTS THE ABILITY TO THINK CLEARLY AND INDEPENDENTLY, TO MAKE CRITICAL JUDGMENTS, AND TO COMMUNICATE EFFECTIVELY IN BOTH SPEECH AND WRITING 3) TO FOSTER IN STUDENTS AETHETIC APPRECIATION OF THE ARTS AND LITERATURE 4) TO ACQUAINT STUDENTS WITH THE TEACHINGS AND VALUES OF THE CHRISTIAN FAITH 5) TO HELP STUDENTS DEVELOP MORAL AND ETHICAL COMMITMENTS, INCLUDING SERVICE TO OTHERS 6) TO HELP STUDENTS ATTAIN A SENSE OF DIGNITY, SELF-WORTH, AND APPRECIATION OF OTHER PERSONS OF DIVERSE BACKGROUNDS 7) TO ENCOURAGE IN STUDENTS AN APPRECIATION FOR TEAMWORK AND FOR PHYSICAL FITNESS AND ATHLETIC SKILLS THAT WILL CONTRIBUTE TO LIFELONG HEALTH 8) TO FOSTER IN STUDENTS AN APPRECIATION OF, AND CONCERN FOR, THE ENVIRONMENT AND NATURAL RESOURCES. THE MISSION OF PRESBYTERIAN COLLEGE SCHOOL OF PHARMACY IS TO IMPROVE THE HEALTH OF SOUTH CAROLINIANS AND SOCIETY IN GENERAL BY DEVELOPING STUDENTS WITH AN UNWAVERING ETHICAL FOUNDATION WHO WILL POSITIVELY IMPACT THE DELIVERY OF QUALITY EQUITABLE PHARMACY CARE; WHO WILL DEDICATE THEIR LIVES TO COMMUNITY SERVICES; AND WHO WILL PROVIDE ENLIGHTENED LEADERSHIP IN ADDRESSING THE HEALTH CARE NEEDS OF A DIVERSE PATIENT POPULATION. FORM 990, PART VI, SECTION B, LINE 11 THE INSTITUTION'S FORM 990 IS PREPARED BY THE COLLEGE'S CONTROLLER, THEN REVIEWED BY THE EVP FOR FINANCE AND THE PRESIDENT. THE RETURN IS ALSO REVIEWED BY THE SAME INDEPENDENT ACCOUNTING FIRM THAT CONDUCTED THE ANNUAL AUDIT FOR THE COLLEGE. THE FORM 990, INCLUDING ALL SCHEDULES, IS PROVIDED TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES AND IS AN AGENDA ITEM FOR A MEETING OF THE AUDIT COMMITTEE, WHERE THOSE TRUSTEES ASK ANY QUESTIONS THEY HAVE OF THE COLLEGE STAFF. THE TRUSTEES OF THE AUDIT COMMITTEE ARE INDEPENDENT AND EXPERIENCED IN FINANCIAL MATTERS. AFTER REVIEWED BY EXTERNAL TAX ADVISORS, THE INSTITUTION PROVIDES THE FINAL FORM 990 AND ALL SCHEDULES EXCEPT SCHEDULE B TO ALL VOTING MEMBERS OF THE GOVERNING BOARD BEFORE THE FORM IS FILED. (A REDACTED VERSION OF SCHEDULE B, EXCLUDING DONOR NAMES AND ADDRESSES IS PROVIDED TO ALL TRUSTEES TO PROTECT DONOR PRIVACY. AUDIT COMMITTEE MEMBERS, HOWEVER, WOULD HAVE ALREADY REVIEWED THE UN-REDACTED VERSION OF SCHEDULE B, AS NOTED ABOVE). FORM 990, PART VI, SECTION B, LINE 12C BOARD OF TRUSTEES, COLLEGE OFFICERS AND OTHER EMPLOYEES COMPLETE A CONFLICT OF INTEREST FORM ON AN ANNUAL BASIS. FORMS ARE REVIEWED BY THE COLLEGE PRESIDENT AND THE EVP OF FINANCE AND ADMINSTRATION. BOARD MEMBERS WITH CONFLICTS RECUSE THEMSELVES FROM RELATED DECISIONS. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES AFTER REVIEWING END OF THE YEAR EVALUATION. THE PROCESS IS PART OF A TWO DAY MEETING IN AUGUST. SALARY IS COMPARED WITH CUPA DATA FOR A COMPARISON SET OF SCHOOLS. OFFICER SALARIES ARE DETERMINED BY THE COLLEGE PRESIDENT BASED ON MID-YEAR AND END-OF-YEAR EVALUATION OF SATISFACTORY ACHIEVEMENT OF GOALS AND OBJECTIVES. CUPA DATA FOR A COMPARISON GROUP OF SCHOOLS FOR SIMILAR POSITIONS IS ALSO CONSIDERED. OFFICER SALARIES AND COMPARITIVE CUPA DATA ARE PRESENTED TO BOTH THE EXECUTIVE AND HUMAN RESOURCE COMMITTEE OF THE BOARD. ALL OF THESE DECISIONS ARE DOCUMENTED IN AGENDAS AND RECORDS OF THE APPROPRIATE COMMITTEES AND IN THE PERSONNEL FILES. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE FOR INSPECTIONS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: K-1 -1,618,694. PRESBYTERIAN COLLEGE FOUNDATION PO BOX 975 CLINTON SC 29325 571021640 FOUNDATION EXISTS TO SC 501(C)(3) LINE 11B, II N/A 0 PRESBYTERIAN REAL ESTATE FOUNDATION PO BOX 975 CLINTON SC 29325 571021641 FOUNDATION EXISTS TO SC 501(C)(3) LINE 11B, II N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 PRESBYTERIAN COLLEGE FOUNDATION N 0 PRESBYTERIAN REAL ESTATE FOUNDATION N 0 SCHEDULE R, PART V, LINE 2 THE COLLEGE'S EMPLOYEES DO A NOMINAL AMOUNT OF WORK FOR THE PC FOUNDATION AND PC RE FOUNDATION, AT NO COST TO EITHER ENTITY.