2024-04-30T16:45:47-05:00 2023-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 110 EAST COURT STREET SUITE 500 GREENVILLE SC 29601 990 2022-07-01 570314380 CONVERSE UNIVERSITY CONV 8645969000 580 EAST MAIN STREET SPARTANBURG SC 29302 BOONE HOPKINS PRESIDENT 8645969000 2024-04-22 1 BOONE HOPKINS 999009999 1 AMY DOSIK P00890743 8642333981 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z BOONE HOPKINS 580 EAST MAIN STREET SPARTANBURG SC 29302 48746916 0 X WWW.CONVERSE.EDU X 1889 SC CONVERSE UNIVERSITY IS A LIBERAL ARTS COLLEGE WHICH OFFERS CO-ED UNDERGRADUATE AND GRADUATE DEGREES. CONVERSE ADVANCES A CULTURE OF BELONGING AND COLLABORATION THAT IGNITES CREATIVITY, INNOVATION, AND TRANSFORMATION. 25 25 717 27 0 0 11950265 4985235 24785754 25916337 5405164 3846500 52176 41 42193359 34748113 7833228 6807300 0 0 17126442 18260916 0 0 1629946 16109029 15388844 41068699 40457060 1124660 -5708947 167325059 166255853 33620089 33806140 133704970 132449713 X THE PRIMARY MISSION OF CONVERSE UNIVERSITY IS A LIBERAL ARTS EDUCATION OF CO-ED UNDERGRADUATE STUDENTS IN A RESIDENTIAL SETTING. STUDENTS PURSUE RICHLY DIVERSE PROGRAMS IN LIBERAL ARTS AND CAREER PREPARATIONS. CONVERSE EMPOWERS STUDENTS TO BECOME TRANSFORMATIVE LEADERS WHO SEE CLEARLY, DECIDE WISELY, AND ACT JUSTLY. TODAY, INNOVATIVE PROGRAMS FOR GRADUATE AND DOCTORAL ADVANCED STUDY COMPLEMENT THE UNDERGRADUATE PROGRAM. ADDITIONALLY, THE CONVERSE COLLEGE FOR WOMEN REAFFIRMS THE FOUNDER'S CONVICTION THAT A SMALL UNDERGRADUATE RESIDENTIAL LIBERAL ARTS COLLEGE IS A UNIQUELY POWERFUL ENVIRONMENT FOR DEVELOPING WOMEN'S TALENTS. 0 0 28623134 6807300 19873263 FOUNDED IN 1889, CONVERSE UNIVERSITY 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 OFFERS CO-EDUCATIONAL UNDERGRADUATE AND 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 UNIVERSITY HAS APPROXIMATELY 1,347 STUDENTS ENROLLED. 5051142 6043074 CONVERSE UNIVERSITY IS A RESIDENTIAL UNIVERSITY, 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. 33674276 1 1 0 0 0 0 0 1 1 1 1 1 0 1 1 1 1 0 1 0 1 0 0 0 1 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 1593 0 1 717 1 0 0 0 0 0 0 0 0 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X KRISTIN LACEY VP STRATEGY AND OPERATIONS 8645969031 580 EAST MAIN STREET SPARTANBURG SC 29302 DR BOONE HOPKINS PRESIDENT 40.00 0.00 X 266827 0 46638 KRISTIN LACEY VP OPERATIONS & STRATEGIC PLANNING 40.00 0.00 X 143525 0 28440 HOLLY DUNCAN CHIEF COMMUNICATIONS OFFICER 40.00 0.00 X 125618 0 28848 DIANNE CROCKER VP FINANCE & BUSINESS 40.00 0.00 X 112759 0 25153 JOHN Z CORBITT CHIEF INFORMATION OFFICER 40.00 0.00 X 108793 0 2220 LIENNE MEDFORD FEDERICO INTERIM PROVOST UNTIL OCT 2022 40.00 0.00 X 101339 0 15452 JAMIE GRANT VP ENROLLMENT MANAGEMENT 40.00 0.00 X 90859 0 8515 MICHAEL KENNEDY INTERIM VP INST. ADVANCEMENT TO 6/27/22 40.00 0.00 X 62813 0 15697 JOSEPH WILFERTH PROVOST 40.00 0.00 X 61733 0 5112 MICHAEL PASQUARELLA VP INST. ADVANCEMENT FROM NOV 2022 40.00 0.00 X 31712 0 1704 SANDRA MORELLI CHAIR 1.00 0.00 X X 0 0 0 WALLACE PRESTWOOD VICE CHAIR 1.00 0.00 X X 0 0 0 SANDRA HARTNETT SECRETARY 1.00 0.00 X X 0 0 0 BRANT BYNUM TRUSTEE 1.00 0.00 X 0 0 0 CHRIS CANNON TRUSTEE 1.00 0.00 X 0 0 0 RANDALL CHAMBERS TRUSTEE 1.00 0.00 X 0 0 0 RHONDA COKER TRUSTEE 1.00 0.00 X 0 0 0 PAUL COTE TRUSTEE 1.00 0.00 X 0 0 0 CHRISTOPHER DORRANCE TRUSTEE 1.00 0.00 X 0 0 0 STINSON FERGUSON TRUSTEE 1.00 0.00 X 0 0 0 KATHERINE FULMER TRUSTEE 1.00 0.00 X 0 0 0 DR PADRICA HOPKINS TRUSTEE 1.00 0.00 X 0 0 0 STEPHEN JOHNSON TRUSTEE 1.00 0.00 X 0 0 0 KARLA JONES TRUSTEE 1.00 0.00 X 0 0 0 LILLIAN LILLY TRUSTEE 1.00 0.00 X 0 0 0 FAIN MCDANIEL TRUSTEE 1.00 0.00 X 0 0 0 AMY MORALES TRUSTEE 1.00 0.00 X 0 0 0 LINDA REDDING TRUSTEE 1.00 0.00 X 0 0 0 TINA ROHNER TRUSTEE 1.00 0.00 X 0 0 0 EMILY RUSHING TRUSTEE 1.00 0.00 X 0 0 0 DAVID SMART TRUSTEE 1.00 0.00 X 0 0 0 ALLEN SMITH TRUSTEE 1.00 0.00 X 0 0 0 LOUIS SMITH TRUSTEE 1.00 0.00 X 0 0 0 ELIZABETH VINGI TRUSTEE 1.00 0.00 X 0 0 0 LAURA BAUKNIGHT TRUSTEE 1.00 0.00 X 0 0 0 PALMER BALL TRUSTEE - EX OFFICIO 1.00 0.00 X 0 0 0 LIBBY TILSON TRUSTEE - EX OFFICIO 1.00 0.00 X 0 0 0 1105978 0 177779 6 0 1 0 HARPER CONSTRUCTION 35 W COURT ST STE 400 GREENVILLE SC 29601 CONSTRUCTION 2676349 AVI FOOD SYSTEMS INC 2590 ELM RD WARREN OH 44483 DINING SERVICES 1948911 THE BUDD GROUP INC PO BOX 890856 CHARLOTTE NC 282890856 FACILITIES 799835 ROEBUCK WHOLESALE NURSERY & LANDSCAPING PO BOX 1053 ROEBUCK SC 29376 GROUNDS 378123 ENCOURA LLC 75 REMITTANCE DR DEPT 1020 CHICAGO IL 606751020 CONSULTING SERVICES 326407 15 3450 1255499 3726286 444260 4985235 TUITION AND FEES 611710 19595877 19595877 ROOM AND BOARD 532000 6043074 6043074 SUMMER WORKSHOPS 532000 218468 218468 ALUMNAE EVENTS/CAMPUS LIFE 900099 58918 58918 25916337 2202930 2202930 491018 514095 -23077 -23077 -23077 15115981 13472411 1643570 1643570 1643570 35415 3450 12297 23118 23118 34748113 25916337 0 3846541 6807300 6807300 949063 241679 447461 259923 13692665 11471704 1748798 472163 337166 269733 50575 16858 2231782 1788118 332075 111589 1050240 840192 157536 52512 46385 46385 98520 98520 283457 283457 758613 568960 113792 75861 113552 79486 17033 17033 927174 748250 132565 46359 230486 230486 2418339 2055588 241834 120917 182101 154786 18210 9105 1146087 974174 114609 57304 2761092 2346928 276109 138055 532684 532684 STUDENT PROGRAMS 1887056 1614450 189935 82671 FOOD SERVICE 1854732 1576522 185473 92737 REPAIRS/MAINTENANCE 583752 496189 58375 29188 RECRUITMENT EXPENSE 547841 465665 54784 27392 1016973 944066 52628 20279 40457060 33674276 5152838 1629946 7831818 6324349 11504746 6854112 3395629 2838503 326044 351649 587444 432296 296874 136498 116579810 64312823 50683212 52266987 49462451 52116584 26499802 26952200 16737039 17982675 167325059 166255853 2282270 2827644 378725 432202 27352866 26147374 481858 488851 2148244 1673775 976126 2236294 33620089 33806140 X 41788622 39480031 91916348 92969682 133704970 132449713 167325059 166255853 X -5708947 4070348 383342 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 0 1 X 81004448 522105 7443991 4722577 84247967 92813335 1034331 -8418596 4424622 81004448 77529115 811789 18864643 4392212 92813335 78372082 3049775 307694 4200436 77529115 78739686 1187647 2765229 4320480 78372082 0.08770 0.91230 0.00000 0 0 1877496 1877496 85799082 45772093 40026989 25334365 18540730 6793635 3568867 3568867 52266987 HEDGE FUNDS 20901435 F LIMITED PARTNERSHIPS 6050765 F 26952200 CONTRIBUTIONS RECEIVABLE FROM REMAINDER TRUSTS 9753819 PERPETUAL TRUST HELD BY THIRD PARTY 4526784 MISCELLANEOUS RECEIVABLES 517347 PROPERTY HELD FOR SALE 175000 INTEREST RATE SWAP ASSET 2416041 RIGHT-OF-USE ASSETS 593684 17982675 POST-RETIREMENT BENEFITS 37560 OBLIGATIONS FROM SPLIT INTEREST AGREEMENTS 109480 REVOLVING PERKINS LOAN LIABILITY 572084 ASSET RETIREMENT OBLIGATION 65151 OPERATING LEASE LIABILITY 605754 LINE OF CREDIT 846265 2236294 X 32637438 4070348 909734 4980082 27657356 283457 6807300 7090757 34748113 33892695 526392 526392 33366303 283457 6807300 7090757 40457060 PART III, LINE 4: ALL ART WORK IS ON PUBLIC EXHIBIT AND CAN BE VIEWED BY STUDENTS, FACULTY, STAFF AND OTHERS IN THE COMMUNITY. PART IV, LINE 2B: THE UNIVERSITY HOLDS FUNDS IN A CUSTODIAL CAPACITY FOR STUDENT ORGANIZATIONS. PART V, LINE 4: THE INTENDED USES OF CONVERSE UNIVERSITY'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. 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 UNIVERSITY IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE UNIVERSITY HAS EVALUATED THE EFFECT OF U.S. GAAP GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT BELIEVES THAT THE UNIVERSITY CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION. MANAGEMENT ALSO BELIEVES THAT THERE ARE NO OTHER UNCERTAIN TAX POSITIONS AT JUNE 30, 2023 OR 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 514,095. FUNDRAISING EVENT EXPENSES 12,297. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 803,975. CHANGE IN VALUE OF PERPETUAL TRUST 130,087. CHANGE IN VALUE OF REMAINDER TRUST AGREEMENTS -550,720. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 6,807,300. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 514,095. FUNDRAISING EVENT EXPENSES 12,297. CHANGE IN VALUE OF PERPETUAL TRUST CHANGE IN VALUE OF REMAINDER TRUST AGREEMENTS PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 6,807,300. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 CONVERSE UNIVERSITY PRINTS A NONDISCRIMINATORY CLAUSE ON ALL MAJOR PUBLICATIONS, INCLUDING BUT NOT LIMITED TO EMPLOYMENT APPLICATIONS, COURSE CATALOGS, ADMISSION APPLICATIONS, AND THE UNIVERSITY'S WEBSITE, AS REQUIRED BY THE OFFICE OF CIVIL RIGHTS. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY 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 0 0 INVESTMENTS 12339326 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES TRAVEL ABROAD PROGRAM 159565 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 2255993 0 0 0 0 0 0 14754884 0 14754884 1 0 1 1 1 0 PART I, LINE 3: CONVERSE HAS OWNERSHIP IN VARIOUS FOREIGN ENTITIES AS A RESULT OF ALTERNATIVE INVESTMENTS THAT ARE PART OF ITS INVESTMENT PORTFOLIO. THE AMOUNT REPORTED IN PART I, COLUMN F IS THE FAIR MARKET VALUE OF THE INVESTMENTS HELD AT THE END OF THE YEAR. PART III ACCOUNTING METHOD: VALKYRIES GOLF TOURNAMENT 38865 3450 35415 6280 6017 38865 3450 35415 6280 6017 12297 23118 1 GRANTS AND SCHOLARSHIPS TO ATTEND CONVERSE 800 0 6807300 TUITION RATES FINANCIAL AID 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'S ACADEMIC CATALOG AND COMPLY WITH ELIGIBILITY 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 X 0 0 0 0 0 0 0 0 0 DR BOONE HOPKINS PRESIDENT 266827 0 0 0 0 0 20500 0 26138 0 313465 0 0 0 KRISTIN LACEY VP OPERATIONS & STRATEGIC PLANNING 143525 0 0 0 0 0 8000 0 20440 0 171965 0 0 0 HOLLY DUNCAN CHIEF COMMUNICATIONS OFFICER 125618 0 0 0 0 0 8400 0 20448 0 154466 0 0 0 PART I, LINE 1A ALL OF DR. HOPKINS, PRESIDENT'S COMPENSATION PACKAGE WAS WRITTEN IN HIS ANNUAL COMPENSATION CONTRACT AND WAS REVIEWED BY THE EXECUTIVE COMMITTEE. THE UNIVERSITY PROVIDED HOUSING AND WEEKLY HOUSEKEEPING SERVICES TO HIM FOR THE UNIVERSITY'S CONVENIENCE SO THAT HE COULD PERFORM ESSENTIAL BUSINESS AND ACTIVITIES AT THE HOME. THESE AMOUNTS WERE NONTAXABLE COMPENSATION AND ARE REPORTED AS SUCH IN SCHEDULE J, PART II, COLUMN D. A SC JOBS ECONOMIC DEVELOPMENT AUTHORITY 570960018 000000000 2014-12-19 35410000 CAPITAL IMPROVEMENTS AND REFINANCE 0 0 0 A 7585000 35410000 708200 699449 34002351 2015 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: SC JOBS ECONOMIC DEVELOPMENT AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 12/19/2014 X 18 444260 STOCK PRICE 0 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B IN ORDER TO PROTECT THE PRIVACY OF ITS DONORS, A PUBLIC DISCLOSURE COPY OF THE 990 IS 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, OFFICERS, AND KEY EMPLOYEES 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 COMMITTEE REVIEWS THE PRESIDENT'S CONTRACT AND SETS THE COMPENSATION PACKAGE. COMPENSATION DATA IS GATHERED FROM OTHER UNIVERSITIES, PUBLISHED SURVEYS, AND OTHER FORMS 990. THE PRESIDENT ALSO GETS AN EVALUATION FROM THE COMMITTEE. ALL DECISIONS MADE BY THE EXECUTIVE COMMITTEE ARE DISCUSSED IN EXECUTIVE SESSION WITH THE BOARD OF TRUSTEES. THE CHAIRMAN OF THE BOARD OF TRUSTEES GIVES THE VICE PRESIDENT OF FINANCE AND ADMINISTRATION WRITTEN DOCUMENTATION 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. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF REMAINDER TRUST AGREEMENTS -550,720. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 803,975. CHANGE IN VALUE OF PERPETUAL TRUST 130,087. STANDARD CHARITABLE REMAINDER UNITRUST (4) TRUST SC N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0