2012-05-01T12:22:03-05:00 2011-06-30 DIXON HUGHES GOODMAN LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2010-07-01 560543261 MONTREAT COLLEGE MONT 8286698012 PO BOX 1267 MONTREAT NC 28757 GEOFFREY J BREMER 8286698012 2012-05-01 1 AMY BIBBY 8282542254 2010 2016-02-24 21:20:13Z GEOFFREY J BREMER PO BOX 1267 MONTREAT NC 28757 23093245 0 X WWW.MONTREAT.EDU X 1947 NC CHRIST-CENTERED HIGHER EDUCATION, ENRICHING LIVES THROUGH ENGAGEMENT IN ITS COMMUNITIES AND BY PROMOTING RESPONSIBLE GROWTH, CULTURE, AND SPIRITUAL LIFE. 27 27 338 140 0 0 3345536 5158209 17990902 17056123 38048 646121 67871 215408 21442357 23075861 3998334 3759387 0 0 9129027 9181476 0 0 412028 8510786 8556566 21638147 21497429 -195790 1578432 19983244 23983251 9246879 8251902 10736365 15731349 X THE MISSION OF MONTREAT COLLEGE IS TO BE CHRIST-CENTERED, STUDENT-FOCUSED, SERVICE-DRIVEN: EQUIPPING AGENTS OF TRANSFORMATION, RENEWAL, AND RECONCILIATION. 0 0 15316922 17120093 THE COLLEGE PROVIDES A BROAD, RIGOROUS LIBERAL ARTS CURRICULUM WITH AN EMPHASIS ON TRADITIONAL AND SELECTED UNDERGRADUATE AND GRADUATE PROFESSIONAL DEGREE PROGRAMS, INCLUDING DEGREE PROGRAMS FOR ADULT LEARNERS AND PROGRAMS AT GEOGRAPHICALLY DISTANT LOCATIONS. OUR STATEMENTS OF MISSION, VISION AND FAITH HAVE FORMED THE FOLLOWING EDUCATIONAL OBJECTIVES AT MONTREAT COLLEGE:1.THAT STUDENTS WILL DEVELOP AN INFORMED, BIBLICAL WORLD VIEW INCLUDING THE FOLLOWING: - THE SOVEREIGNTY OF GOD OVER ALL CREATION AND KNOWLEDGE; - A LIFESTYLE OF CHRISTIAN SERVICE TO OTHERS AND THE COMMUNITY; - THE RECOGNITION OF THE INTRINSIC WORTH OF SELF AND ALL PERSONS; - A GENUINE CRITICAL OPENNESS TO THE IDEAS AND BELIEFS OF OTHERS; - THE FORMATION OF VALUES AND ETHICAL REASONING; - AN APPRECIATION FOR WHAT IS BEAUTIFUL, TRUE AND GOOD IN THE ARTS AND LITERATURE; - A RESPECT FOR AND ATTITUDE OF STEWARDSHIP TOWARD THE WHOLE OF CREATION; - AN UNDERSTANDING OF THE PAST AND ITS INTERCONNECTEDNESS WITH THE PRESENT AND FUTURE. 2. THAT STUDENTS WILL DEMONSTRATE EFFECTIVE WRITTEN AND ORAL COMMUNICATION SKILLS. 3. THAT STUDENTS WILL DEMONSTRATE CRITICAL THINKING AND PROBLEM-SOLVING SKILLS. 4. THAT STUDENTS WILL DEMONSTRATE ESSENTIAL COMPUTER INFORMATION SYSTEMS SKILLS. 5. THAT STUDENTS WILL DEMONSTRATE COMPETENCY IN THEIR ACADEMIC MAJORS. 6. THAT STUDENTS WILL DEVELOP INTERPERSONAL AND TEAM SKILLS AND AN UNDERSTANDING AND APPRECIATION OF THEIR PERSONAL STRENGTHS AND WEAKNESSES. 7. THAT STUDENTS WILL BECOME REFLECTIVE AND RESPONSIBLE CITIZENS, EFFECTIVE LEADERS, AND COMMITTED LAITY. 3025849 3025849 TO PROVIDE SCHOLARSHIPS AND SIMILAR FINANCIAL AID. IN FISCAL YEAR 2010, THERE WERE INSTITUTIONAL AWARDS TO 1,326 STUDENTS. 18342771 1 1 0 0 0 0 1 0 1 1 1 1 0 1 1 0 1 1 0 1 0 1 0 1 0 0 0 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 0 0 0 1 49 0 1 338 1 0 0 0 0 0 1 1 0 0 0 0 X 27 27 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 NC X X GEOFFREY J BREMER 8286698012 PO BOX 1267 MONTREAT NC 28757 REV THOMAS W ALLEN 1.00 X 0 0 0 MRS CYNTHIA F ANDERSON 1.00 X 0 0 0 MRS ANN K ASHLEY 1.00 X 0 0 0 MR W ALLEN BELL 1.00 X 0 0 0 MR JOSEPH R BUDD 1.00 X 0 0 0 DR MARNIE M CRUMPLER 1.00 X 0 0 0 MRS ALEXANDRA H DAVIS 1.00 X 0 0 0 DR WILLIAM E DUDLEY 1.00 X 0 0 0 MRS DEBORAH L ELMORE 1.00 X 0 0 0 REV WILLIAM F GRAHAM IV 1.00 X 0 0 0 MR WILLIAM B HAYNES 1.00 X 0 0 0 MR REX V HOFFMAN III 1.00 X 0 0 0 MR WILLIAM A MITCHELL JR 1.00 X 0 0 0 MR WILLIAM S ORSER 1.00 X X 0 0 0 MR G RICHARD QUERY 1.00 X 0 0 0 MRS DALE G REID 1.00 X 0 0 0 MR E MOSS ROBERTSON JR 1.00 X 0 0 0 MAJOR GENERAL MASTIN M ROBESON 1.00 X 0 0 0 MRS SUZANNE R SLOAN 1.00 X 0 0 0 MR VINCENT J SMARJESSE 1.00 X 0 0 0 MRS LETTA JEAN TAYLOR 1.00 X 0 0 0 DR SAMUEL B THIELMAN 1.00 X 0 0 0 MRS LYNNE P VEERMAN 1.00 X 0 0 0 MR ROBERT G WATT 1.00 X 0 0 0 DR LUDER G WHITLOCK JR 1.00 X 0 0 0 REV JAMES P WOOD 1.00 X 0 0 0 MR BERNARD H WRIGHT JR 1.00 X 0 0 0 DAN STRUBLE 40.00 X 131888 0 27740 RHONDA DEVAN 40.00 X 108911 0 10184 240799 0 37924 2 0 1 0 BLUE CROSS BLUE SHIELD PO BOX 2291 DURHAM NC 27703 EMPLOYEE HEALTH INSURANCE 1188323 ARAMARK 1101 MARKET STREET PHILADELPHIA PA 19107 DINING AND FACILITIES SERVICES 786576 IPD CHARLOTTE 5200 77 CENTER STREET STE 100 CHARLOTTE NC 28217 CONTRACT TERMINATION SETTLEMENT 572000 INTERCONTINENTAL FUND III VANGUARD CENTE 1270 SOLDIERS FIELD ROAD BOSTON MA 021351003 RENT 414851 MOUNTAIN ENERGY RANKIN-PATTERSON 288 LYMAN STREET ASHEVILLE NC 28801 HEATING OIL 274569 11 38135 164200 203092 4752782 5158209 TUITION AND FEES 611110 14476602 14476602 AUXILIARY SERVICES 611110 1394433 1394433 ROOM RENTAL 611110 1185088 1185088 17056123 310977 310977 335144 335144 335144 335144 0 38135 17384 -17384 -17384 CAMPUS STORE 900099 168822 168822 MISCELLANEOUS 900099 63970 63970 232792 23075861 17120093 0 797559 3374007 3374007 385380 385380 278723 45737 153172 79814 7211789 6404191 624961 182637 11321 11321 1126853 905148 175319 46386 552790 475996 57425 19369 52828 52828 71134 71134 234 234 1611489 1497479 88735 25275 2941998 2659761 247371 34866 41921 41921 1241759 1161688 79899 172 566369 496688 47205 22476 230587 135327 95260 757118 757118 192563 2330 190233 OTHER 431064 430031 1033 BAD DEBT 319094 319094 ANNUITIES EXPENSE 98408 98408 21497429 18342771 2742630 412028 995965 2878005 111675 458021 205000 2131876 2367120 1473766 351807 372822 159610 200832 189808 211519 23746175 14250458 9929790 9495717 3140031 2380304 905104 1538578 1627334 2841811 19983244 23983251 1336940 1358340 482013 492192 1667305 646927 16492 20506 2405054 4158168 3339075 1575769 9246879 8251902 X 1260235 8267923 49661 1123483 9426469 6339943 10736365 15731349 19983244 23983251 X 1578432 3416552 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 28911 X X 0 0 0 9739959 1729370 1349792 494859 12324262 8823547 772726 919269 775583 9739959 12306877 1058768 -2787679 1754419 8823547 0.15000 0.77000 0.08000 0 1 1 3094762 3094762 16784834 11587781 5197053 3154460 2177751 976709 712119 484926 227193 9495717 ALTERNATIVE INVESTMENTS 1436711 F OTHER PROPERTY 101867 F 1538578 INTERCOMPANY INVESTMENT 2841811 F 2841811 ANNUITIES PAYABLE 534800 CAPITAL LEASE OBLIGATION 25377 ASSET RETIREMENT OBLIGATION 529113 STUDENT DEPOSITS 486479 1575769 PART III, LINE 4: THE FINE ARTS COLLECTION EXISTS TO SUPPORT THE GENERAL MISSION OF THE COLLEGE BY PROMOTING AWARENESS AND UNDERSTANDING OF A BROAD SPECTRUM OF ARTISTIC EXPRESSION. AS UNIQUE EXPRESSIONS OF THE HUMAN CONDITION, WORKS IN THE COLLECTION INVIGORATE LEARNING AND TEACHING AND PROVIDE EXPANDED OPPORTUNITIES FOR STUDY, RESEARCH, AND INDIVIDUAL BELIEFS. THE ART CONTRIBUTES TO THE OVERALL EDUCATIONAL AND CULTURAL FUNCTIONS OF THE COLLEGE AND BY OBSERVATIONS, THE EXHIBITIONS OF THE WORKS CONTINUE TO SUPPORT THE CURRICULAR OFFERINGS IN ART EDUCATION AND BIBLICAL STUDIES, PROVIDE AESTHETIC STIMULATION TO VIEWERS, AND ENHANCE EXPERIENCE FOR THE CAMPUS AREA COMMUNITY. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ORGANIZATION'S INTENDED USE OF ENDOWMENT FUNDS IS TO INVEST THE ENDOWMENT ASSETS IN AN ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY THE ENDOWMENTS WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ASSETS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE ORGANIZATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, CERTAIN INCOME UNRELATED TO ITS EXEMPT FUNCTION IS SUBJECT TO INCOME TAXATION. THE ORGANIZATION'S POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION TAKEN THAT IS BENEFICIAL TO THE ORGANIZATION, INCLUDING ANY RELATED INTEREST AND PENALTIES, WHEN IT IS MORE LIKELY THAN NOT THE POSITION TAKEN BY MANAGEMENT WITH RESPECT TO A TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF JUNE 30, 2011, AND 2010 AND, ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. FISCAL YEARS ENDING ON OR AFTER JUNE 30, 2008, REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. 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 RACIALLY NONDISCRIMINATORY POLICY IS MADE KNOWN TO THE COMMUNITY AS DESCRIBED IN NUMBER 3 ABOVE. THE POLICY IS ALSO INCLUDED IN THE FACULTY AND EMPLOYEE HANDBOOKS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES FEDERAL FINANCIAL AID FOR STUDENTS. 0 EAST ASIA AND THE PACIFIC 0 0 SCHOLARSHIP GRANTS 64536 CENTRAL AMERICA AND THE CARIBBEAN 0 0 SCHOLARSHIP GRANTS 139172 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 SCHOLARSHIP GRANTS 64886 SOUTH AMERICA 0 0 SCHOLARSHIP GRANTS 61374 SOUTH ASIA 0 0 SCHOLARSHIP GRANTS 10000 SUB-SAHARAN AFRICA 0 0 SCHOLARSHIP GRANTS 31912 NORTH AMERICA - MEXICO 0 0 SCHOLARSHIP GRANTS 13500 0 0 0 0 0 0 385380 0 385380 SCHOLARSHIP EAST ASIA AND THE PACIFIC 4 64536 TUITION FMV SCHOLARSHIP CENTRAL AMERICA AND THE CARIBBEAN 8 139172 TUITION FMV SCHOLARSHIP EUROPE (INCLUDING ICELAND & GREENLAND) 3 64886 TUITION FMV SCHOLARSHIP SOUTH AMERICA 4 61374 TUITION FMV SCHOLARSHIP SOUTH ASIA 1 10000 TUITION FMV SCHOLARSHIP SUB-SAHARAN AFRICA 3 31912 TUITION FMV SCHOLARSHIP NORTH AMERICA 1 13500 TUITION FMV 0 0 0 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: DEPENDING ON THE REQUIREMENTS OF THE FUND SOURCES, FINANCIAL AID AND ALL TITLE IV AND STATE REGULATIONS ARE MONITORED, RECONCILED AND FOLLOWED DAILY BY TRAINED AND EXPERIENCED PROFESSIONAL STAFF THAT STAY UP TO DATE ON ANY CHANGES IN REGULATION THOUGH PROFESSIONAL DEVELOPMENT TRAINING. GOLF TOURNAMENT 38135 38135 3280 7300 3070 835 2899 38135 38135 3280 7300 3070 835 2899 17384 -17384 1 SCHOLARSHIPS 1303 3374007 FMV PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: DEPENDING ON THE REQUIREMENTS OF THE FUND SOURCES, FINANCIAL AID AND ALL TITLE IV AND STATE REGULATIONS ARE MONITORED, RECONCILED AND FOLLOWED DAILY BY TRAINED AND EXPERIENCED PROFESSIONAL STAFF THAT STAY UP TO DATE ON ANY CHANGES IN REGULATION THOUGH PROFESSIONAL DEVELOPMENT TRAINING. X 0 0 X X X 0 0 0 0 0 0 0 0 0 DAN STRUBLE 129486 0 0 0 2402 0 0 0 27740 0 159628 0 0 0 PART I, LINE 1A THE PRESIDENT'S HOUSING ALLOWANCE IS PRESENTED TO THE INDEPENDENT BOARD OF TRUSTEES FOR THEIR APPROVAL AS PART OF HIS ANNUAL COMPENSATION REVIEW. KAREN STRUBLE RELATED TO DAN STRUBLE, PRESIDENT 24400 KAREN STRUBLE IS AN EMPLOYEE OF THE ORGANIZATION 0 X 621 FMV X 9 450127 FMV X COFFEE SHOP EQUIPMENT AND FURNITURE 1 18500 FMV X VIDEO EQUIPMENT 1 2500 FMV X FURNITURE 1 1586 FMV X TRAVEL 1 1364 FMV X RENTAL 1 900 FMV X VIOLIN PACKAGE 1 600 FMV X CHRISTMAS DECORATIONS 2 596 FMV X CHAPEL DECORATION 1 150 FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 3 FOOD SERVICES MANAGEMENT WAS PROVIDED BY ARAMARK AND RISK MANAGEMENT WAS PROVIDED BY EIIA. FORM 990, PART VI, SECTION B, LINE 11 COPIES OF THE 990 ARE PRESENTED TO THE ENTIRE BOARD OF TRUSTEES FOR THEIR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C A TRUSTEE SHALL BE CONSIDERED TO HAVE A CONFLICT OF INTEREST IF (A) SUCH TRUSTEE HAS EXISTING OR POTENTIAL FINANCIAL OR OTHER INTEREST WHICH IMPAIR OR MIGHT REASONABLY APPEAR TO IMPAIR SUCH MEMBER'S INDEPENDENT, UNBIASED JUDGMENT IN THE DISCHARGE OF THE TRUSTEE'S RESPONSIBILITIES TO THE COLLEGE OR (B) SUCH TRUSTEE IS AWARE THAT A MEMBER OF THE TRUSTEE'S FAMILY, OR ANY ORGANIZATION IN WHICH SUCH TRUSTEE (OR MEMBER OF THE TRUSTEE'S FAMILY) IS AN OFFICER, DIRECTOR, EMPLOYEE, MEMBER, PARTNER, TRUSTEE, OR CONTROLLING STOCKHOLDER, HAS SUCH EXISTING OR POTENTIAL FINANCIAL OR OTHER INTERESTS. ALL TRUSTEES SHALL DISCLOSE TO THE BOARD ANY POSSIBLE CONFLICT OF INTEREST AT THE EARLIEST PRACTICAL TIME. FURTHERMORE, THE TRUSTEE SHALL ABSENT HIMSELF/HERSELF FROM DISCUSSIONS OF, AND ABSTAIN FROM VOTING ON, SUCH MATTERS UNDER CONSIDERATION BY THE BOARD OF TRUSTEES OR ITS COMMITTEES. THE MINUTES OF SUCH MEETINGS SHALL REFLECT THAT A DISCLOSURE WAS MADE AND THAT THE TRUSTEE HAVING A CONFLICT OR POSSIBLE CONFLICT ABSTAINED FROM VOTING. ANY TRUSTEE WHO IS UNCERTAIN WHETHER A CONFLICT OF INTEREST MAY EXIST IN ANY MATTER MAY REQUEST THE BOARD OR COMMITTEE TO RESOLVE THE QUESTION IN THE TRUSTEE'S ABSENCE BY MAJORITY VOTE. EACH TRUSTEE SHALL COMPLETE AND SIGN A DISCLOSURE FORM PROVIDED ANNUALLY BY THE SECRETARY OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION USES COMPARABILITY DATA FROM FORMS 990 OF OTHER SIMILAR ORGANIZATIONS AND FROM A COMPENSATION STUDY TO DETERMINE THE SALARIES FOR THE PRESIDENT/CEO AND OTHER OFFICERS. THE PRESIDENT/CEO'S SALARY IS DETERMINED AND APPROVED BY THE INDEPENDENT BOARD OF DIRECTORS ANNUALLY AFTER REVIEWING COMPARABILITY DATA. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION'S FORM 990 IS MADE AVAILABLE TO THE PUBLIC UPON REQUEST. RECENT COPIES OF THE FORM ARE ALSO AVAILABLE ON GUIDESTAR.ORG. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 322,370. ANNUITY ADJUSTMENT TO PRESENT VALUE -100,536. TRANSFER TO AFFILIATE 3,194,718. TOTAL TO FORM 990, PART XI, LINE 5: 3,416,552. MONTREAT COLLEGE FOUNDATION PO BOX 1267 MONTREAT NC 28757 561324199 TO SUPPORT THE EDUCATIONAL PURPOSE OF MONTREAT COLLEGE NC 501(C)(3) 11, TYPE II N/A 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 MONTREAT COLLEGE FOUNDATION INC C 154000 MONTREAT COLLEGE FOUNDATION INC A 135326