2026-04-15T12:29:16-05:00 2025-05-31 540504608 BROWN EDWARDS & COMPANY LLP 105 ARBOR DR NE 3RD FLOOR CHRISTIANSBURG VA 24073 990 2024-06-01 560547498 BELMONT ABBEY COLLEGE INC BELM 7044616814 100 BELMONT-MOUNT HOLLY ROAD BELMONT NC 28012 JEFFREY W TALLEY PRESIDENT 7044616814 2026-04-15 1 1 MARK WOOLWINE P00647446 5404433606 2026-04-13 2024 2025-03-06 01:10:19Z JEFFREY W TALLEY 100 BELMONT-MOUNT HOLLY ROAD BELMONT NC 28012 85412004 0 X WWW.BELMONTABBEYCOLLEGE.EDU X 1960 NC BELMONT ABBEY COLLEGE OFFERS BACCALAUREATE LEVEL EDUCATION IN HUMANITIES, NATURAL SCIENCES, SOCIAL SCIENCES, AND PROFESSIONAL STUDIES AND MASTERS LEVEL EDUCATION IN HEALTHCARE ADMINISTRATION, BUSINESS ADMINISTRATION, DATA ANALYTICS, LEADERSHIP, NURSING, CLASSICAL & LIBERAL EDUCATION AND COMMUNICATION. 24 24 621 20 0 0 37366722 20091986 41102827 42713658 389826 803789 77639 86368 78937014 63695801 10843741 10848088 0 0 22952723 22841472 0 0 3706386 25240732 26171300 59037196 59860860 19899818 3834941 74020353 81232897 30180724 32589976 43839629 48642921 X THE MISSION OF BELMONT ABBEY COLLEGE IS TO EDUCATE STUDENTS IN THE LIBERAL ARTS AND SCIENCES SO THAT IN ALL THINGS, GOD MAY BE GLORIFIED. IN THIS ENDEAVOR, WE ARE GUIDED BY THE CATHOLIC INTELLECTUAL TRADITION AND THE BENEDICTINE SPIRIT OF PRAYER AND LEARNING. EXEMPLIFYING BENEDICTINE HOSPITALITY, WE WELCOME A DIVERSE BODY OF STUDENTS AND PROVIDE THEM WITH AN EDUCATION THAT WILL ENABLE THEM TO LEAD LIVES OF INTEGRITY, SUCCEED PROFESSIONALLY, BECOME RESPONSIBLE CITIZENS, AND BE A BLESSING TO THEMSELVES AND TO OTHERS. 0 0 45610469 10848088 42709612 INSTRUCTION - BELMONT ABBEY COLLEGE PROVIDES EDUCATION FOR STUDENTS IN THE LIBERAL ARTS AND SCIENCES SO THAT IN ALL THINGS, GOD MAY BE GLORIFIED. IN THIS ENDEAVOR, THE COLLEGE IS GUIDED BY THE CATHOLIC INTELLECTUAL TRADITION AND THE BENEDICTINE SPIRIT OF PRAYER AND LEARNING. EXEMPLIFYING BENEDICTINE HOSPITALITY, THE COLLEGE WELCOMES A DIVERSE BODY OF STUDENTS AND PROVIDES THEM WITH AN EDUCATION THAT WILL ENABLE THEM TO LEAD LIVES OF INTEGRITY, TO SUCCEED PROFESSIONALLY, TO BECOME RESPONSIBLE CITIZENS, AND TO BE A BLESSING TO THEMSELVES AND TO OTHERS. DURING THE 2024-2025 ACADEMIC YEAR THE COLLEGE ENROLLED APPROXIMATELY 1,500 STUDENTS. 45610469 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 1 1 0 0 1 0 0 0 0 1 0 0 0 1 1946 0 1 621 1 0 0 0 0 0 0 0 0 0 0 0 0 X 24 24 1 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 0 0 X BETH RUNSER CONTROLLER 7046416573 100 BELMONT - MT HOLLY ROAD BELMONT NC 28012 MR CHARLES C CORNELIO CHAIRMAN 5.00 X X 0 0 0 MR CHRIS PARKER VICE CHAIRMAN 2.00 X X 0 0 0 MR RICHARD HOEFLING SECRETARY 5.00 X X 0 0 0 RT REV PLACID D SOLARI OSB CHANCELLOR 3.00 X X 0 0 0 BROTHER TOBIAH ABBOT OSB TRUSTEE 1.00 X 0 0 0 MR CLIFF BAUER TRUSTEE 1.00 X 0 0 0 MRS MOLLY BECKERT TRUSTEE 1.00 X 0 0 0 BISHOP JOSEPH COFFEY TRUSTEE 1.00 X 0 0 0 REV ELIAS CORREA-TORRES TRUSTEE 1.00 X 0 0 0 MR JAMES CRAWFORD III JD LLM MA TRUSTEE 1.00 X 0 0 0 JUDGE JAMES DEVER III TRUSTEE 1.00 X 0 0 0 MRS SARA EDEL TRUSTEE 1.00 X 0 0 0 MRS HEATHER FINKE TRUSTEE 1.00 X 0 0 0 MR CONOR GALLAGHER TRUSTEE 1.00 X 0 0 0 MRS MARY ELLEN GUSTAINIS TRUSTEE 1.00 X 0 0 0 MR THOMAS KELLY TRUSTEE 1.00 X 0 0 0 FATHER CHRISTOPHER KIRCHGESSNER TRUSTEE 1.00 X 0 0 0 MR TERENCE M MURPHY TRUSTEE 1.00 X 0 0 0 FR JAMES RABER OSB TRUSTEE 1.00 X 0 0 0 MR JOSE RODRIGUEZ TRUSTEE 1.00 X 0 0 0 MRS MARY SUMMA TRUSTEE 1.00 X 0 0 0 MRS MARY CATHERINE SURFACE TRUSTEE 1.00 X 0 0 0 MR FRANK TROTTA TRUSTEE 1.00 X 0 0 0 MR DAVID WOFFORD TRUSTEE 1.00 X 0 0 0 MR PHILIP BRACH VICE PRESIDENT OF COLLEGE RELATIONS 60.00 X 246172 0 25939 DR JOSEPH WYSOCKI PROVOST 60.00 X 192978 0 23583 MR ALLAN MARK EXECUTIVE VICE PRESIDENT 60.00 X 241112 0 25081 MR STEPHEN MISS VICE PRESIDENT AND ATHLETIC DIRECTOR 60.00 X 202849 0 25070 DR WILLIAM THIERFELDER PRESIDENT 60.00 X 394901 0 47063 AUGUSTA GLADD SENIOR VICE PRESIDENT STRATEGIC GIVING 50.00 X 151864 0 14277 ANDREA TREMBATH FORMER VICE PRESIDENT FINANCE AND ADMINISTRATION 50.00 X 142715 0 16042 SAMANTHA DONOHUE ASSOCIATE VICE PRESIDENT -COLLEGE RELATIONS 50.00 X 138350 0 11916 CHERYL TROTTER VICE PRESIDENT HR AND OPERATIONS 50.00 X 178757 0 986 EMMETT MCGROARTY DIRECTOR OF THE BELMONT HOUSE 50.00 X 150399 0 12185 2040097 0 202142 14 0 1 0 CHARTWELLS DINING SERVICES PO BOX 417632 BOSTON MA 02241 FOOD SERVICES 4765023 SSC SERVICE SOLUTIONS PO BOX 742268 ATLANTA GA 30374 MAINTENANCE/JANITORIAL 2339903 MCCULLOUGH CONSTRUCTION LLC 5513 CONNECTICUT AVE NW WASHINGTON DC 20015 RENOVATION SERVICES 2313813 ELLUCIAN COMPANY LP 4 COUNTRY VIEW RD MALVERN PA 19355 COMPUTER/NETWORK SERVICES 2029023 BLACK TIE TRANSPORTATION BUS CHARTES IN 3050 RIDGEWOOD RD WINSTONSALEM NC 27017 TRANSPORTATION SERVICES 438126 14 70094 8250500 265571 11505821 1134772 20091986 TUITION AND FEES 611310 27992772 27992772 AUXILIARY SERVICES 611710 14096291 14096291 MISCELLANEOUS PROGRAM 611710 624595 624595 42713658 683179 683179 21800056 21675400 4046 124656 -4046 120610 -4046 124656 21545 70094 36757 -15212 -15212 DISTRIBUTION FROM FUNDS HELD IN T 611710 101580 101580 101580 63695801 42709612 0 894203 10848088 10848088 1593379 370829 822154 400396 17687226 14908687 1567927 1210612 617139 522802 52566 41771 1592319 1431514 11291 149514 1351409 1083754 159180 108475 159561 149372 10189 70726 70726 1902732 1445371 344531 112830 507558 371405 2500 133653 2198933 569380 1458254 171299 1300575 987955 235497 77123 1505921 1379947 63445 62529 105060 89329 7678 8053 1165931 1165931 1761070 1337761 318879 104430 982639 804500 134192 43947 CONTRACT SERVICES 6657779 1481951 4822745 353083 FOOD SERVICES 3906725 3906725 STUDENT SERVICES 1644977 1644977 OTHER 701712 358658 177069 165985 1599401 900905 145999 552497 59860860 45610469 10544005 3706386 6095104 94334 13158609 6591636 5179930 4247764 648268 617359 53339728 15722255 30654959 37617473 10177814 23302988 2260705 3738118 5750630 5117559 74020353 81232897 2653449 4726898 1082271 1612162 15302979 14458491 5000000 6500000 6142025 5292425 30180724 32589976 X -5542633 -3674890 49382262 52317811 43839629 48642921 74020353 81232897 X 3834941 596043 372308 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13795258 1739233 994105 677354 15851242 11651697 1099416 1639178 595033 13795258 12195801 244010 -129711 358403 300000 11651697 13983549 497079 -1262849 521978 500000 12195801 12273393 970980 3051252 497202 1814874 13983549 0.00380 0.77890 0.21730 1 0 30826923 8292976 22533947 2343648 631688 1711960 6479537 4708041 1771496 13689620 2089550 11600070 37617473 FUNDS HELD IN TRUST 2314908 OPERATING LEASE RIGHT-OF-USE ASSETS 2725472 FINANCE LEASE RIGHT-OF-USE ASSETS 77179 5117559 STUDENT DEPOSITS 551750 OTHER LIABILITIES 672615 OPERATING LEASE LIABILITIES 2858296 FINANCE LEASE LIABILITIES 53205 CASH & CASH EQUIVALENT OVERDRAFT 1156559 5292425 X 57134331 596043 2388631 -9475418 -6490744 63625075 70726 70726 63695801 51367434 2388631 36757 2425388 48942046 70726 10848088 10918814 59860860 PART V, LINE 4: SCHOLARSHIPS AND SPECIFIC DEPARTMENTAL ACTIVITIES. PART X, LINE 2: MANAGEMENT EVALUATED THE COLLEGE'S TAX POSITIONS AND CONCLUDED THAT THE COLLEGE HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH PROVISIONS OF THE INCOME TAXES TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (A.S.C.). PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -10,848,088. CHANGE IN FUNDS HELD IN TRUST 366,665. CHANGE IN SPLIT-INTEREST AGREEMENTS 5,643. FUNDRAISING EXPENSES 36,757. DEFERRED REVENUE ADJUSTMENT 963,605. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 36,757. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 10,848,088. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 BELMONT ABBEY COLLEGE ADMITS STUDENTS OF ANY RACE, COLOR, RELIGION, NATIONAL AND ETHNIC ORIGIN TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT THE SCHOOL. IT DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, RELIGION, NATIONAL AND ETHNIC ORIGIN IN ADMINISTRATION OF ITS EDUCATIONAL POLICIES, ADMISSIONS POLICIES, SCHOLARSHIP AND LOAN PROGRAMS, AND ATHLETIC OR OTHER SCHOOL-ADMINISTERED PROGRAMS. SCHEDULE E, PART I, LINE 6 BELMONT ABBEY COLLEGE STUDENTS RECEIVE A VARIETY OF FEDERAL AND STATE GRANTS AND LOANS, INCLUDING PELL GRANTS, SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS, NORTH CAROLINA LEGISLATIVE TUITION GRANTS AND NORTH CAROLINA INCENTIVE GRANTS. BENEDICTINE LEADERSHIP INSTITUTE AN 20735 17625 3110 27918 PERFORMING ARTS GALA 70904 52469 18435 8787 52 91639 70094 21545 8787 27970 36757 -15212 1 SCHOLARSHIPS AND FELLOWSHIPS TO STUDENTS 1434 10751241 FEDERAL SUPPLEMENTAL GRANTS 129 96847 PART I, LINE 2: BELMONT ABBEY COLLEGE UTILIZES VARIOUS DATABASES TO STORE AND MONITOR DATA PERTAINING TO THE AWARDING AND DISBURSEMENT OF GRANTS RECEIVED IN THE UNITED STATES. ALL GRANTS RECEIVED ARE PROPERLY APPLIED AS PAYMENTS TOWARD STUDENTS' ACCOUNTS APPROPRIATELY. ALL PARTICIPATING GRANTING ORGANIZATIONS HAVE COMPLIANCE REQUIREMENTS THAT ARE ADHERED TO AND AUDITED ANNUALLY IN ACCORDANCE WITH THE OFFICE OF BUDGET AND MANAGEMENT (OMB) UNIFORM GUIDANCE. AS SUCH, THE COLLEGE PRESENTS SCHEDULES OF EXPENDITURES OF FEDERAL AND STATE AWARDS SUMMARIZING ALL EXPENDITURES USING THE ACCRUAL BASIS OF ACCOUNTING. X X 1 1 X X 0 1 0 0 0 0 0 0 0 DR WILLIAM THIERFELDER PRESIDENT 302238 0 0 0 92663 0 31724 0 15339 0 441964 0 0 0 MR PHILIP BRACH VICE PRESIDENT OF COLLEGE RELATIONS 244840 0 0 0 1332 0 10600 0 15339 0 272111 0 0 0 MR ALLAN MARK EXECUTIVE VICE PRESIDENT 240140 0 0 0 972 0 9800 0 15281 0 266193 0 0 0 MR STEPHEN MISS VICE PRESIDENT AND ATHLETIC DIRECTOR 201517 0 0 0 1332 0 8697 0 16373 0 227919 0 0 0 DR JOSEPH WYSOCKI PROVOST 192240 0 0 0 738 0 8244 0 15339 0 216561 0 0 0 CHERYL TROTTER VICE PRESIDENT HR AND OPERATIONS 177800 0 0 0 957 0 712 0 274 0 179743 0 0 0 AUGUSTA GLADD SENIOR VICE PRESIDENT STRATEGIC GIVI 150610 0 0 0 1254 0 6200 0 8077 0 166141 0 0 0 EMMETT MCGROARTY DIRECTOR OF THE BELMONT HOUSE 149160 0 0 0 1239 0 6000 0 6185 0 162584 0 0 0 ANDREA TREMBATH FORMER VICE PRESIDENT FINANCE AND AD 141473 0 0 0 1242 0 6033 0 10009 0 158757 0 0 0 SAMANTHA DONOHUE ASSOCIATE VICE PRESIDENT -COLLEGE RE 137760 0 0 0 590 0 5520 0 6396 0 150266 0 0 0 PART I, LINE 1A GROSS-UP PAYMENTS ARE PAYMENTS FOR LONG-TERM DISABILITY PAID BY THE COLLEGE AND INCLUDED IN THE EMPLOYEE'S W-2. BELMONT ABBEY COLLEGE PROVIDES A HOUSING ALLOWANCE TO CERTAIN EMPLOYEES AS CONTRACTUALLY PROVIDED. SUCH HOUSING IS SUBJECT TO ALL APPLICABLE FEDERAL, STATE, AND LOCAL TAX WITHHOLDINGS. PART I, LINE 4B WILLIAM THIERFELDER, PRESIDENT, HAD A CONTRIBUTION INTO HIS 457(B) PLAN IN THE AMOUNT OF 20,000. 121196 TUITION REMISSION SOUTHERN BENEDICTINE SOCIETY RELATED TAX EXEMPT ORG 8250500 CASH CONTRIBUTION 0 SOUTHERN BENEDICTINE SOCIETY RELATED TAX EXEMPT ORG -92414 TEACHING SERVICES 0 SOUTHERN BENEDICTINE SOCIETY RELATED TAX EXEMPT ORG 730563 REIMBURSEMENTS OF EXPENSES 0 SOUTHERN BENEDICTINE SOCIETY RELATED TAX EXEMPT ORG -1500000 CASH TRANSFER 0 X 3 1134257 AVG HIGH/LOW FMV X EQUIPMENT 1 515 DONOR VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 -HOEFLING AND THIERFELDER HAVE COMMON BUSINESS RELATIONSHIP. -HOEFLING AND THIERFELDER SERVE ON THE CHARLOTTE BUSINESS COUNCIL. -ABBOT PLACID SERVED AS A NON-BENEFICIARY TRUSTEE OF A CHARITABLE REMAINDER UNITRUST OF WHICH THE COLLEGE IS A BENEFICIARY. -ABBOT PLACID IS THE PRESIDENT OF SOUTHERN BENEDICTINE SOCIETY AND CHANCELLOR OF THE COLLEGE. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF BELMONT ABBEY COLLEGE, INC. (BAC) ARE THE CHAPTER OF BELMONT ABBEY. IN ACCORDANCE WITH ITS RULES AND PROCEDURES, THE BUSINESS AFFAIRS OF THE COLLEGE SHALL BE MANAGED BY THE BOARD OF TRUSTEES OR BY SUCH COMMITTEES AS THE BOARD MAY ESTABLISH PURSUANT TO THE BY-LAWS AND THE CHARTER OF THE COLLEGE. THE BOARD OF TRUSTEES OF THE COLLEGE SHALL CONSIST OF NOT LESS THAN TWENTY (20) AND NOT MORE THAN FORTY (40) TRUSTEES. THE SOUTHERN BENEDICTINE SOCIETY SHALL BE ENTITLED TO A MINIMUM REPRESENTATION ON THE BOARD OF TRUSTEES OF SEVEN (7) MEMBERS, ONE (1) OF WHOM SHALL BE THE ABBOT OF BELMONT ABBEY, THE CHANCELLOR EX-OFFICIO OF THE COLLEGE. SUCH REPRESENTATION SHALL BE LIMITED TO A MAXIMUM OF TWENTY-FIVE PERCENT (25%) OF THE TOTAL BOARD OF TRUSTEES THAT MAY BE SERVING FROM TIME TO TIME PROVIDED THE MINIMUM REPRESENTATION OF SEVEN (7) MEMBERS IS ALWAYS OBSERVED. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF BAC HAVE THE AUTHORITY TO ELECT OR REMOVE TRUSTEES AS OUTLINED IN THE ARTICLES OF INCORPORATION AND AMENDMENTS. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS OF BAC HAVE RESERVED CERTAIN POWERS IN THE ARTICLES OF INCORPORATION OR AMENDMENTS THERETO AS FOLLOWS: -TO LEASE, SELL, MORTGAGE, OR ENCUMBER REAL ESTATE OWNED BY BAC; -TO MERGE, AFFILIATE, LIQUIDATE, OR DISSOLVE BAC; -TO AMEND THE ARTICLES OF INCORPORATION OF BAC; AND -TO TERMINATE THE EXISTENCE OF BAC PURSUANT TO THE NON-PROFIT LAWS OF NORTH CAROLINA. FURTHER, THE MEMBERS SHALL APPROVE IN WRITING THE FOLLOWING ACTIONS OF THE BOARD OF TRUSTEES OF BAC: -THE ELECTION AND/OR REMOVAL OF TRUSTEES; -ANY AMENDMENT OF THE BY-LAWS OF BAC; -THE APPOINTMENT OF THE PRESIDENT OF BAC; AND -THE ADOPTION OF ANY CAPITAL BUDGET OR THE ADOPTION OF ANY BUDGET REFLECTING OPERATING DEFICITS OF BAC. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT SENT THE DRAFT 990 TO THE CHAIR OF THE FINANCE AND ADMINISTRATION COMMITTEE AND THE PRESIDENT OF THE COLLEGE FOR REVIEW AND QUESTIONS. ONCE THE FINAL COPY OF THE 990 IS RECEIVED, A COPY OF THE PUBLIC INSPECTION COPY IS SENT TO EACH TRUSTEE. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST ANNUALLY WITH THEIR EMPLOYMENT CONTRACT. BOARD MEMBERS ARE REQUIRED TO FILE A REPORT ANNUALLY WHICH DISCLOSES ANY INTERESTS THAT COULD GIVE RISE TO CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15A THE TERM AND CONDITIONS OF EACH AMENDMENT TO THE PRESIDENT'S EMPLOYMENT CONTRACT ARE PRESENTED TO THE BOARD OF TRUSTEES EXECUTIVE COMMITTEE FOR DISCUSSION, COMMENT AND APPROVAL. PEER INSTITUTION COMPENSATION DATA IS PROVIDED FOR CONSIDERATION AS PART OF THE APPROVAL PROCESS. LIFE INSURANCE BENEFITS, IF ANY PROPOSED, WOULD ALSO BE REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE PROVIDES GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF TRUSTS 366,665. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 5,643. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES TO THIS PROCESS. SOUTHERN BENEDICTINE SOCIETY OF NORTH CAROLINA 100 BELMONT-MOUNT HOLLY ROAD BELMONT NC 28012 560530237 RELIGIOUS COMMUNITY NC 501(C)(3) LINE 1 N/A 0 0 0 1 0 0 0 0 0 0 0 1 0 0 1 1 1 1 1 0 SOUTHERN BENEDICTINE SOCIETY R 1500000 TRANSFER OF CASH SOUTHERN BENEDICTINE SOCIETY K 2388632 FMV - RENTAL OF FACILITIES SOUTHERN BENEDICTINE SOCIETY P 92414 FMV - OTHER OPERATING EXPENSES SOUTHERN BENEDICTINE SOCIETY Q 730563 FMV - OTHER OPERATING SOUTHERN BENEDICTINE SOCIETY C 8250500 CASH CONTRIBUTIONS