2025-04-28T12:52:53-05:00 2024-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 110 EAST COURT STREET SUITE 500 GREENVILLE SC 29601 990 2023-07-01 570314380 CONVERSE UNIVERSITY CONV 8645969000 580 EAST MAIN STREET SPARTANBURG SC 29302 BOONE HOPKINS PRESIDENT 8645969000 2025-04-25 1 1 MELANIE MCPEAK P01346034 8642333981 2023 2025-03-06 01:10:19Z BOONE HOPKINS 580 EAST MAIN STREET SPARTANBURG SC 29302 68532836 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 25 691 27 0 0 4985235 6565333 25916337 29455080 3846500 5333078 41 127805 34748113 41481296 6807300 8267189 0 0 18260916 18148749 0 0 1727132 15388844 16928036 40457060 43343974 -5708947 -1862678 166255853 174133562 33806140 36922598 132449713 137210964 X THE PRIMARY MISSION OF CONVERSE UNIVERSITY IS TO EMPOWER STUDENTS TO BECOME TRANSFORMATIVE LEADERS WHO SEE CLEARLY, DECIDE WISELY, AND ACT JUSTLY. CONVERSE UNIVERSITY PROVIDES A LIBERAL ARTS EDUCATION OF CO-ED UNDERGRADUATE STUDENTS IN A RESIDENTIAL SETTING. STUDENTS PURSUE RICHLY DIVERSE PROGRAMS IN LIBERAL ARTS AND CAREER PREPARATIONS. 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 30720397 8267189 22733407 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. 5421247 6721673 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. 36141644 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 1635 0 1 691 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 SC X KRISTIN LACEY VP OPERATIONS & CFO 8645969031 580 EAST MAIN STREET SPARTANBURG SC 29302 WALLACE PRESTWOOD CHAIR 1.00 0.00 X X 0 0 0 LINDA REDDING 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 RHONDA COKER TRUSTEE 1.00 0.00 X 0 0 0 PAUL COTE TRUSTEE 1.00 0.00 X 0 0 0 DAWN DECK 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 KIM KENT TRUSTEE 1.00 0.00 X 0 0 0 FAIN MCDANIEL TRUSTEE 1.00 0.00 X 0 0 0 BRELAN MONTGOMERY TRUSTEE 1.00 0.00 X 0 0 0 AMY MORALES TRUSTEE 1.00 0.00 X 0 0 0 SANDRA MORELLI 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 CHRISTY STONER TRUSTEE 1.00 0.00 X 0 0 0 DWIGHT VAN INWEGEN 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 DR BOONE HOPKINS PRESIDENT 40.00 0.00 X 253415 0 50066 JOSEPH WILFERTH PROVOST 40.00 0.00 X 169612 0 22542 KRISTIN LACEY VP OPERATIONS & CFO 40.00 0.00 X 150050 0 30275 MICHAEL PASQUARELLA VP INST. ADVANCEMENT TO 7/23 40.00 0.00 X 126906 0 13261 JOHN Z CORBITT CHIEF INFORMATION OFFICER 40.00 0.00 X 75410 0 1495 JAMIE GRANT VP FOR ENROLLMENT MANAGEMENT 40.00 0.00 X 91772 0 9293 KESHIA JACKSON GILLIAM ASST PROFESSOR OF EDUCATION 40.00 0.00 X 102968 0 24674 970133 0 151606 5 0 1 0 HARPER GENERAL CONTRACTORS 35 W COURT ST STE 400 GREENVILLE SC 29601 CONSTRUCTION 3486982 AVI FOOD SYSTEMS INC 2590 ELM RD WARREN OH 44483 DINING SERVICES 2137762 THE BUDD GROUP INC PO BOX 890856 CHARLOTTE NC 282890856 FACILITIES 816063 ROEBUCK WHOLESALE NURSERY & LANDSCAPING PO BOX 1053 ROEBUCK SC 29376 GROUNDS 411044 ENCOURA LLC 75 REMITTANCE DR DEPT 1020 CHICAGO IL 606751020 CONSULTING SERVICES 391297 13 6118 6559215 1536338 6565333 TUITION AND FEES 611710 22127673 22127673 ROOM AND BOARD 532000 6721673 6721673 ALUMNAE EVENTS/CAMPUS LIFE 900099 397825 397825 SUMMER WORKSHOPS 532000 207909 207909 29455080 3453112 3453112 600831 507897 92934 92934 92934 28410730 26530764 1879966 1879966 1879966 47750 6118 12879 34871 34871 41481296 29455080 0 5460883 8267189 8267189 817428 290790 375872 150766 13722256 11321519 1815533 585204 300742 253377 36469 10896 2268960 1821822 338534 108604 1039363 831491 155904 51968 54652 54652 181780 181780 284593 284593 639107 479330 95866 63911 180725 126507 27109 27109 1002746 802197 150411 50138 193371 193371 2515710 2138354 251571 125785 138039 117333 13804 6902 1026894 872860 102690 51344 3231500 2746775 323150 161575 575647 575647 FOOD SERVICE 2362323 2007975 236232 118116 STUDENT PROGRAMS 1917939 1641195 193081 83663 REPAIRS/MAINTENANCE 1119666 951717 111966 55983 RECRUITMENT EXPENSE 556914 473377 55691 27846 946430 804465 94643 47322 43343974 36141644 5475198 1727132 6324349 10432256 6854112 14269684 2838503 2298884 351649 431240 432296 233274 136498 141139 119219148 67500616 52266987 51718532 52116584 55879978 26952200 29944477 17982675 8784098 166255853 174133562 2827644 2374945 432202 5792227 26147374 24744136 488851 56991 1673775 1112423 2236294 2841876 33806140 36922598 X 39480031 47534893 92969682 89676071 132449713 137210964 166255853 174133562 X -1862678 6330921 293008 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 0 1 X 84247967 1815908 10106928 4452325 91718478 81004448 522105 7443991 4722577 84247967 92813335 1034331 -8418596 4424622 81004448 77529115 811789 18864643 4392212 92813335 78372082 3049775 307694 4200436 77529115 0.09750 0.90250 0.00000 0 0 1877496 1877496 91019994 48089433 42930561 26192931 19411183 6781748 128727 128727 51718532 HEDGE FUNDS 22454659 F LIMITED PARTNERSHIPS 7489818 F 29944477 CONTRIBUTIONS RECEIVABLE FROM REMAINDER TRUSTS 755500 PERPETUAL TRUST HELD BY THIRD PARTY 4977286 MISCELLANEOUS RECEIVABLES 226604 PROPERTY HELD FOR SALE 175000 INTEREST RATE SWAP ASSET 2207568 RIGHT-OF-USE ASSETS 442140 8784098 POST-RETIREMENT BENEFITS 35784 OBLIGATIONS FROM SPLIT INTEREST AGREEMENTS 104678 REVOLVING PERKINS LOAN LIABILITY 267591 ASSET RETIREMENT OBLIGATION 61045 OPERATING LEASE LIABILITY 452777 LINE OF CREDIT 1920001 2841876 X 40074219 6330921 293008 6623929 33450290 284593 7746413 8031006 41481296 35312968 520776 520776 34792192 284593 8267189 8551782 43343974 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 THE UNIVERSITY CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION. MANAGEMENT ALSO BELIEVES THERE ARE NO OTHER UNCERTAIN TAX POSITIONS AT JUNE 30, 2024 OR 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP -208,473. CHANGE IN VALUE OF PERPETUAL TRUST 450,502. CHANGE IN VALUE OF REMAINDER TRUST AGREEMENTS 50,979. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 8,267,189. RENTAL EXPENSES -507,897. FUNDRAISING EVENT EXPENSES -12,879. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 507,897. FUNDRAISING EVENT EXPENSES 12,879. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 8,267,189. 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 12850096 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES TRAVEL ABROAD PROGRAM 151692 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 2325429 0 0 0 0 0 0 15327217 0 15327217 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. VALKYRIES GOLF TOURNAMENT 53868 6118 47750 7948 4931 53868 6118 47750 7948 4931 12879 34871 1 GRANTS AND SCHOLARSHIPS TO ATTEND CONVERSE 881 0 8267189 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 1 0 0 0 0 0 0 0 0 DR BOONE HOPKINS PRESIDENT 253415 0 0 0 0 0 7242 0 42824 0 303481 0 0 0 JOSEPH WILFERTH PROVOST 169612 0 0 0 0 0 0 0 22542 0 192154 0 0 0 KRISTIN LACEY VP OPERATIONS & CFO 150050 0 0 0 0 0 8080 0 22195 0 180325 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. PART I, LINE 4A MICHAEL PASQUARELLA RECEIVED SEVERANCE OF $40,000. A SC JOBS ECONOMIC DEVELOPMENT AUTHORITY 570960018 000000000 2014-12-19 35410000 CAPITAL IMPROVEMENTS AND REFINANCE 0 0 0 A 10252746 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 33 1536338 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 50,979. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP -208,473. CHANGE IN VALUE OF PERPETUAL TRUST 450,502. 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