2024-04-13T14:39:16-05:00 2023-05-31 882730877 CHERRY BEKAERT ADVISORY LLC 1111 METROPOLITAN AVE STE 900 CHARLOTTE NC 28204 990 2022-06-01 560530251 CATAWBA COLLEGE CATA 7046374182 2300 W INNES STREET SALISBURY NC 28144 NORMA BRICE CONTROLLER 7046374182 2024-04-12 1 NORMA BRICE 999009999 1 AMY DOSIK P00890743 7043771678 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z NORMA BRICE 2300 W INNES STREET SALISBURY NC 28144 102242616 0 X WWW.CATAWBA.EDU X 1925 NC CATAWBA COLLEGE WAS FOUNDED IN NEWTON, NORTH CAROLINA, IN 1851 BY THE GERMAN REFORMED CHURCH. THE COLLEGE - WHICH IS TODAY AFFILIATED WITH THE UNITED CHURCH OF CHRIST - MOVED TO ITS PRESENT LOCATION IN SALISBURY IN 1925. THE COLLEGE ENDEAVORS TO ATTRACT STUDENTS BOTH NATIONALLY AND INTERNATIONALLY OF GOOD ABILITY AND CHARACTER. A PRIVATE, CO-EDUCATIONAL INSTITUTION, CATAWBA OFFERS THE BACHELOR OF ARTS, BACHELOR OF ARTS-EDUCATION, BACHELOR OF BUSINESS ADMINISTRATION, BACHELOR OF FINE ARTS, BACHELOR OF SCIENCE, AND MASTER OF EDUCATION TO TRADITIONAL AND NON-TRADITIONAL STUDENTS. THE COLLEGE ALSO SERVES THE PUBLIC THROUGH EDUCATIONAL OUTREACH AND VOLUNTEER SERVICE PROGRAMS FOR THE WORLD COMMUNITY. 30 30 686 30 0 0 233311834 51968749 40848965 41870027 1636640 4782121 0 86216 275797439 98707113 23836041 23162772 0 0 20304225 24469442 0 0 994920 17389072 20299006 61529338 67931220 214268101 30775893 404243208 442162950 6647493 10143634 397595715 432019316 X CATAWBA COLLEGE IS COMMITTED TO PROVIDING STUDENTS AN EDUCATION RICH IN PERSONAL ATTENTION THAT BLENDS THE KNOWLEDGE AND COMPETENCIES OF LIBERAL STUDIES WITH CAREER PREPARATION. CATAWBA COLLEGE DRAWS STRENGTH FROM JUDEO-CHRISTIAN VALUES, SUSTAINS A DYNAMIC COMMUNITY OF LEARNERS AND SEEKS TO UNITE A DIVERSE POPULATION OF STUDENTS, FACULTY AND STAFF AS ACTIVE CO-PARTICIPANTS IN SCHOLARSHIP AND SERVICE. CATAWBA COLLEGE PREPARES STUDENTS TO REACH THEIR HIGHEST POTENTIAL WHILE BECOMING RESPONSIBLE CITIZENS WITH ZEAL TO ENRICH HUMAN LIFE. 0 0 48197847 23162772 41870027 CATAWBA COLLEGE IS A PRIVATE, COEDUCATIONAL, AND RESIDENTIAL INSTITUTION OFFERING CAREER PREPARATION GROUNDED IN THE LIBERAL ARTS TRADITION. WE OFFER OVER 70 ACADEMIC FIELDS OF STUDY INCLUDING STRONG SCIENCE AND PRE-PROFESSIONAL PROGRAMS. 48197847 1 1 0 0 0 0 0 0 1 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 0 0 0 0 1 0 0 0 0 1 0 0 0 1 154 0 1 686 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 30 30 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 1 0 NC X NORMA BRICE 7046374182 2300 W INNES STREET SALISBURY NC 28144 ROBERT B ARNOLD JR CHAIRMAN 1.00 X X 0 0 0 BARBARA L MARSHALL VICE CHAIRMAN 1.00 X X 0 0 0 RONALD J MACCARONI TREASURER 1.00 X X 0 0 0 C SHUFORD ABERNETHY III DIRECTOR 1.00 X 0 0 0 GREGORY M ALCORN DIRECTOR 1.00 X 0 0 0 MARK G ALEXANDER DIRECTOR 1.00 X 0 0 0 DARLENE L BALL DIRECTOR 1.00 X 0 0 0 GWIN CARTER BARR DIRECTOR 1.00 X 0 0 0 GARY BLABON DIRECTOR 1.00 X 0 0 0 DANIEL T BROSS DIRECTOR 1.00 X 0 0 0 TOM BURETTE DIRECTOR 1.00 X 0 0 0 SARA D COOK DIRECTOR 1.00 X 0 0 0 JAMES L CRUMEL DIRECTOR 1.00 X 0 0 0 DR RANDALL S CRUMPLER DIRECTOR 1.00 X 0 0 0 THOMAS STOKES DENNARD DIRECTOR 1.00 X 0 0 0 BART EDGE DIRECTOR 1.00 X 0 0 0 GERALD FRANCIS DIRECTOR 1.00 X 0 0 0 WILLIAM M GRAHAM DIRECTOR 1.00 X 0 0 0 TINA COSTINO JONES DIRECTOR 1.00 X 0 0 0 GLEN LLOYD DIRECTOR 1.00 X 0 0 0 NICK MEANS DIRECTOR 1.00 X 0 0 0 DEBORAH WILLIAMS MESSINGER DIRECTOR 1.00 X 0 0 0 MARVIN MOORE DIRECTOR 1.00 X 0 0 0 RICHARD J SEIWELL DIRECTOR 1.00 X 0 0 0 FRED J STANBACK JR DIRECTOR 1.00 X 0 0 0 LEE B SYRIA DIRECTOR 1.00 X 0 0 0 CHARLES D TAYLOR JR DIRECTOR 1.00 X 0 0 0 BILL WAGONER DIRECTOR 1.00 X 0 0 0 MONA L WALLACE DIRECTOR 1.00 X 0 0 0 SALLY WHITNEY DIRECTOR 1.00 X 0 0 0 DAVID P NELSON PRESIDENT 40.00 X 322958 0 52463 MARGARET K DEES VP OF DEVELOPMENT 40.00 X 187164 0 36933 LAUREN V COX VP PF FINANCE AND ADMIN 40.00 X 153244 0 7886 CONSTANCE L ROGERS LOWERY PROVOST 40.00 X 183655 0 19493 JARED R TICE SR VP OF COLLEGE EXPERIENCE 40.00 X 131416 0 13057 DREW H DAVIS VP GENERAL COUNSEL 40.00 X 173614 0 16555 VALERIE N RAKES PROFESSOR 40.00 X 132129 0 13278 MICHELLE P CADDIGAN DIRECTOR OF ATHLETICS 40.00 X 130104 0 12719 CAYCE C WILL CIO 40.00 X 127734 0 14934 JOSEPH M WILSON PROFESSOR 40.00 X 124705 0 14971 BENJAMIN F ANDERSON II ASSO PROVOST 40.00 X 116471 0 17761 1783194 0 220050 20 0 1 0 EDIFICE LLC PO BOX 36349 CHARLOTTE NC 28236 CONSTRUCTION 7395454 CHARTWELLS DINING SERVICES 3 INTERNATIONAL DRIVE RYE BROOK NY 10573 DINING SERVICES 1782463 CLARK'S PRINTING SERVICE DBA CLARK COMMU 2 WESTSIDE DR ASHEVILLE NC 28806 COMMUNICATIONS 583490 DLR GROUP 301 EAST PINE ST SUITE 900 ORLANDO FL 32801 CONSTRUCTION 498991 ELLUCIAN COMPANY 62578 COLLECTION CENTER DR CHICAGO IL 60693 INFO TECHNOLOGY 363693 19 53428 51915321 109702 51968749 TUITION AND FEES 900099 32343742 32343742 AUXILIARY INCOME 900099 7760058 7760058 ATHLETIC INCOME 900099 370625 370625 1395602 1395602 41870027 2093554 2093554 6168689 2058 3482180 0 2686509 2058 2688567 2688567 139539 53428 53323 86216 86216 98707113 41870027 0 4868337 23162772 23162772 1315723 351976 738234 225513 18588401 12774014 5472517 341870 695481 539468 148286 7727 2572301 1933270 549952 89079 1297536 918799 343273 35464 156397 43 156354 142154 142154 4308824 1480747 2698246 129831 392374 327716 64221 437 630485 364235 214192 52058 549994 201050 311128 37816 2236399 477751 1758648 1529352 1267261 229840 32251 475022 311552 145760 17710 37874 9864 28010 3827162 3827162 588455 4182 584273 DINING 2006596 2006596 SUPPLIES 1630623 1163262 443937 23424 STUDENT ACTIVITIES 539530 524147 13643 1740 1247765 379142 868623 67931220 48197847 18738453 994920 41543564 22780361 15145131 8656489 1746682 772598 2077713 1919818 72579 72579 464816 772990 158175357 74511100 74505946 83664257 74119009 88627992 30611 54561 194482596 234895866 404243208 442162950 2148322 2481825 1391692 1050062 160809 2946670 6611747 6647493 10143634 X 48830817 56167125 348764898 375852191 397595715 432019316 404243208 442162950 X 30775893 247620 3400088 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 282582660 46099819 6999095 13882008 321799566 88095197 213392493 -17004937 5507213 278975540 71539000 2654000 16595000 2693000 88095000 68022000 1107000 4904000 2494000 71539000 67245000 901000 2257000 2381000 68022000 0.00000 1.00000 0.00000 0 0 338700 2544052 2882752 109454316 55598944 53855372 30392197 15438167 14954030 15446092 3473989 11972103 83664257 BENEFICIAL INTERESTS IN TRUSTS 229761009 CASH SURRENDER VALUE OF LIFE INSURANCE 746185 ASSETS HELD IN CHARITABLE TRUSTS 293713 ROU LEASE ASSET 4094959 234895866 ANNUITIES PAYABLE 297989 LIABILITY UNDER TRUST AGREEMENTS 1110949 ASSET RETIREMENT OBLIGATION 1137933 CAPITAL LEASE OBLIGATIONS 4064876 6611747 X 79245313 247620 3453411 3701031 75544282 23162831 23162831 98707113 44821712 53323 53323 44768389 23162831 23162831 67931220 PART IV, LINE 2B: DEPOSITS HELD IN CUSTODY FOR OTHERS ARE AMOUNTS BEING HELD FOR STUDENT CLUBS/ORGANIZATIONS THROUGH AGENCY TRANSACTIONS. PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF APPROXIMATELY 600 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES BASED ON DONOR-IMPOSED RESTRICTIONS IN THE RELATIVE GIFT INSTRUMENT. THE PRIMARY USE OF FUNDS IS TO SUPPORT THE CAUSE OF HIGHER EDUCATION. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE. PART X, LINE 2: THE COLLEGE IS EXEMPT FROM FEDERAL AND STATE INCOME TAXATION UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC"). IN ACCORDANCE WITH IRC REGULATIONS, THE COLLEGE IS TAXED ON UNRELATED BUSINESS INCOME, WHICH CONSISTS OF EARNINGS FROM ACTIVITIES NOT RELATED TO THE EXEMPT PURPOSE OF THE COLLEGE. THE COLLEGE ACCOUNTS FOR TAX UNCERTAINTIES BASED ON A MORE LIKELY THAN NOT RECOGNITION THRESHOLD WHEREBY TAX BENEFITS ARE ONLY RECOGNIZED WHEN THE COLLEGE BELIEVES THAT THEY HAVE A GREATER THAN 50% LIKELIHOOD OF BEING SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN LIABILITY UNDER TRUST AGREEMENTS -2,158,647. CHANGE IN BENEFICIAL INTERESTS AND CHARITABLE TRUSTS -1,056. CHANGE IN BENEFICIAL INTERESTS HELD AT FFTC 5,559,791. FUNDRAISING EXPENSES 53,323. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS SHOWN NET OF TUITION REVENUE 23,162,772. GAIN ON SALE OF ASSET 59. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 53,323. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS SHOWN NET OF TUITION REVENUE 23,162,772. GAIN ON SALE OF ASSET 59. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE POLICY IS INCLUDED IN ALL MEDIA AND IN ALL LITERATURE DISTRIBUTED. ADDITIONALLY, IT IS POSTED IN THE LOCAL NEWSPAPER WITH ALL JOB ADVERTISEMENTS (THIS IS DONE SEVERAL TIMES A YEAR). SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES ASSISTANCE FROM SEVERAL DIFFERENT GOVERNMENTAL AGENCIES. U.S. DEPARTMENT OF EDUCATION: FEDERAL WORK STUDY PROGRAM FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT PROGRAM FEDERAL DIRECT STUDENT LOANS FEDERAL PELL GRANT PROGRAM HIGHER EDUCATION EMERGENCY RELIEF FUND NORTH CAROLINA STATE EDUCATION ASSISTANCE AUTHORITY: NORTH CAROLINA NEED GRANT NORTH CAROLINA FORGIVABLE LOAN NORTH CAROLINA GOLDEN LEAF GRANT CLASS ACT 114100 24561 89539 16326 8130 FIRST PITCH 78867 28867 50000 3629 4210 21028 192967 53428 139539 16326 3629 4210 29158 53323 86216 1 NC LONGLEAF COMPLETE GRANT 4 12346 SCHOLARSHIPS & TUITION DISCOUNTS 1150 23027186 TUITION RATES REDUCED TUITION RATES NC SUMMER ACCELERATOR GRANT 128 123240 PART I, LINE 2: PROCEDURES FOR APPLYING FOR FINANCIAL AID: WHENEVER POSSIBLE, CATAWBA COLLEGE WILL SUPPLEMENT THE FINANCIAL RESOURCES OF A STUDENT THROUGH MERIT, PERFORMANCE-BASED, AND NEED-BASED SCHOLARSHIPS AND GRANTS. A POTENTIAL STUDENT APPLIES AND IS ACCEPTED TO CATAWBA COLLEGE. AT THE TIME OF THEIR ACCEPTANCE, MERIT AID IS DETERMINED BY THE ADMISSIONS COUNSELOR ACCEPTING THE APPLICATION BASED ON A MATRIX CHART THAT HAS BEEN SET UP WITH REGARD TO GPA AND SAT SCORES, LIVING ON OR OFF CAMPUS, AND A SEPARATE TRANSFER STUDENT MATRIX. SCHOLARSHIPS ARE APPLIED DIRECTLY TO THE STUDENTS' ACCOUNT AND, THUS, MUST BE USED FOR EDUCATIONAL PURPOSES. WITH REGARDS TO ATHLETICS AT CATAWBA COLLEGE, THE FINANCIAL AID OFFICE MONITORS ALL ATHLETES TO MAKE SURE THEY DO NOT GO OVER CONFERENCE REGULATIONS REGARDING BOOKS AND SUPPLIES. CATAWBA COLLEGE REFERS TO THE NCAA DIVISION II MANUAL FOR POLICIES REGARDING STUDENT ATHLETES. THE FINANCIAL AID DIRECTOR SIGNS OFF ON THE SQUAD LISTS AND CHECKS FOR ELIGIBILITY WITH THE COMPLIANCE DIRECTOR. THE ASSOCIATE DIRECTOR OF FINANCIAL AID IS RESPONSIBLE FOR ENTERING THE ATHLETIC INFORMATION INTO THE CAI SYSTEM. THE CAI SYSTEM IS ALSO USED TO DETERMINE EQUIVALENCY COMPUTATIONS. FOR CARES EMERGENCY GRANTS, AWARDS WERE BASED ON CURRENT ENROLLMENT STATUS. THE COLLEGE ELECTED TO EQUITABLY SERVE THOSE CONSIDERED ELIGIBLE UTILIZING THE SAME CALCULATION METHOD FOR ALL ELIGIBLE STUDENTS BASED ON CREDIT HOUR ENROLLMENT AND EFC REPORTED ON FAFSA. THE COLLEGE PROVIDED EXAMPLES OF EXPENSES RELATED TO THE DISRUPTION OF CAMPUS OPERATIONS DUE TO THE IMPACT OF THE CORONAVIRUS SUCH AS FOOD, HOUSING, COURSE MATERIALS, TECHNOLOGY NEEDS, HEALTH CARE OR CHILDCARE FOR WHICH THE FUNDS COULD BE UTILIZED. THE COLLEGE DID NOT REQUIRE FUNDS TO BE SPENT FOR A PARTICULAR PURPOSE THAT WOULD REQUIRE MONITORING AFTER THE GRANT FUNDS WERE AWARDED. X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 DAVID P NELSON PRESIDENT 321539 0 0 0 1419 0 43333 0 9130 0 375421 0 0 0 MARGARET K DEES VP OF DEVELOPMENT 186791 0 0 0 373 0 36933 0 0 0 224097 0 0 0 CONSTANCE L ROGERS LOWERY PROVOST 183467 0 0 0 188 0 11563 0 7930 0 203148 0 0 0 DREW H DAVIS VP GENERAL COUNSEL 173392 0 0 0 222 0 16555 0 0 0 190169 0 0 0 LAUREN V COX VP PF FINANCE AND ADMIN 153127 0 0 0 117 0 7886 0 0 0 161130 0 0 0 PART I, LINE 1A THE CURRENT PRESIDENT, DAVID P. NELSON, HAS, AS A PART OF HIS CONTRACT, HOUSING, UTILITIES, INSURANCE, CUSTODIAL SERVICE ETC. PAID FOR BY THE COLLEGE. THE RESIDENCE WAS PROVIDED FOR THE CONVENIENCE OF THE COLLEGE IN HAVING THE FUNCTIONS OF THE OFFICE OF THE PRESIDENT EFFICIENTLY CONDUCTED AND AS A CONDITION OF EMPLOYMENT AS PRESIDENT OF THE COLLEGE. FOR THE BENEFIT AND CONVENIENCE OF THE COLLEGE, THE PRESIDENT'S RESIDENCE SHALL BE AVAILABLE, AND SHALL BE USED, FOR COLLEGE-RELATED BUSINESS AND ENTERTAINMENT ON A REGULAR AND CONTINUING BASIS. THIS IS A NON-TAXABLE FRINGE BENEFIT. CLUB DUES ARE PAID ON BEHALF OF THE PRESIDENT, VP OF DEVELOPMENT AND ATHLETIC DIRECTOR. CLUB MEMBERSHIPS ARE USED FOR BUSINESS PURPOSES ONLY AND THEREFORE THE DUES HAVE BEEN TREATED AS A NONTAXABLE BENEFIT. X 6 109702 FMV 0 0 1 1 PART I, LINE 32B: A REAL ESTATE AGENT IS USED TO SELL GIFTS OF REAL PROPERTY. FORM 990, PART VI, SECTION A, LINE 2 WILLIAM GRAHAM AND MONA WALLACE ARE LAW PARTNERS. MONA WALLACE AND JUNIE MICHAEL HAVE A JOINT VENTURE. FORM 990, PART VI, SECTION B, LINE 11B THE CONTROLLER AND THE INTERIM VP OF FINANCE AND ADMINISTRATION INITIALLY REVIEW THE FORM 990. THE FORM 990 IS ALSO REVIEWED BY THE FINANCE COMMITTEE. A PUBLIC DISCLOSURE COPY OF THE FORM 990 IS THEN PROVIDED TO THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. THE FULL BOARD RECEIVES THE PUBLIC DISCLOSURE COPY OF THE RETURN IN ORDER TO PROTECT DONOR PRIVACY. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST STATEMENTS ARE SIGNED BY EACH MEMBER OF THE BOARD OF TRUSTEES ON AN ANNUAL BASIS. IN THE EVENT OF A POTENTIAL CONFLICT DURING THE YEAR, THAT MEMBER WILL REFRAIN FROM PARTICIPATING IN THE CONSIDERATION OF THE PROPOSED TRANSACTION IN QUESTION. THIS PERSON WILL NOT VOTE ON OR TAKE ANY POSITION FOR OR AGAINST THE PROPOSED TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 THE COLLEGE UTILIZES A "COMMITTEE OF THE PRESIDENCY OF THE BOARD OF TRUSTEES" THAT EVALUATES THE PRESIDENT ON PREDETERMINED GOALS AND THE ASSESSMENT OF POSITIVE ACHIEVEMENTS. THE COMMITTEE APPROVES AND DETERMINES THE PRESIDENTIAL SALARY AND SALARY INCREASES. THE PRESIDENT REVIEWS THE POSITIONS OF THE SENIOR VICE PRESIDENT OF DEVELOPMENT, VICE PRESIDENT OF STUDENT EXPERIENCE, PROVOST AND THE VICE PRESIDENT OF FINANCE TO ESTABLISH SALARY LEVELS BASED ON PERFORMANCE. ALL DISCUSSIONS ARE DOCUMENTED IN THE MINUTES OF THE MEETING. CATAWBA USES INFORMATION FROM NORTH CAROLINA INDEPENDENT COLLEGES AND UNIVERSITIES (NCICU) AND THE COOPER STANDARD SALARY RESOURCE TO DETERMINE MARKET COMPARABLES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND THE FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTERESTS IN TRUSTS -1,056. CHANGE IN LIABILITY UNDER TRUST AGREEMENTS -2,158,647. CHANGE IN BENEFICIAL INTERESTS HELD AT FFTC 5,559,791. CHARITABLE REMAINDER TRUSTS (9) INVESTMENT NC N/A T 0 CHARITABLE LEAD TRUST (1) INVESTMENT NC N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0