2025-04-07T13:54:46-05:00 2024-05-31 882730877 CHERRY BEKAERT ADVISORY LLC 1111 METROPOLITAN AVE STE 900 CHARLOTTE NC 28204 990 2023-06-01 560532297 BREVARD COLLEGE CORPORATION BREV 8288848219 ONE BREVARD COLLEGE DRIVE BREVARD NC 287123306 DR BRADLEY J ANDREWS PRESIDENT 8288848219 2025-04-04 1 1 MELANIE MCPEAK P01346034 7043771678 2023 2025-03-06 01:10:19Z DR BRADLEY J ANDREWS ONE BREVARD COLLEGE DRIVE BREVARD NC 287123306 52506023 0 X WWW.BREVARD.EDU X 1934 NC TO PROVIDE AN EXPERIENTIAL LIBERAL ARTS EDUCATION. 24 24 713 450 35620 0 3243279 3804780 28979730 32518873 1105593 1625798 1602745 -5632 34931347 37943819 12190565 13006592 0 0 12235312 12775518 0 0 385413 9653864 10991177 34079741 36773287 851606 1170532 83131104 86950587 23002772 22363164 60128332 64587423 BREVARD COLLEGE IS COMMITTED TO AN EXPERIENTIAL LIBERAL ARTS EDUCATION THAT ENCOURAGES PERSONAL GROWTH AND INSPIRES ARTISTIC, INTELLECTUAL, AND SOCIAL ACTION. 0 0 25173427 13006592 23547213 BREVARD COLLEGE IS A BACCALAUREATE-AWARDING INSTITUTION COMMITTED TO A RESIDENTIAL LIBERAL ARTS EDUCATION THAT ENCOURAGES PERSONAL GROWTH AND INSPIRES ARTISTIC, INTELLECTUAL AND SOCIAL ACTION. BREVARD IS ACCREDITED BY THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS-COMMISSION ON COLLEGES; THE NATIONAL ASSOCIATION OF SCHOOLS OF MUSIC; AND THE TEACHER EDUCATION ACCREDITING COUNCIL. DURING FISCAL YEAR 2024, INSTRUCTION WAS PROVIDED TO 836 STUDENTS. 767 STUDENTS WERE U.S. CITIZENS WITH 423 RESIDING IN HOUSEHOLDS FROM NC. THE STUDENT BODY REPRESENTS STUDENTS FROM 28 U.S. STATES AND 18 FOREIGN COUNTRIES. BREVARD COLLEGE HAS BEEN NAMED ONE OF THE BEST VALUE SCHOOLS IN NC AND HAS ALSO BEEN LISTED BY U.S. NEWS & WORLD REPORT AS ONE OF THE BEST REGIONAL COLLEGES IN THE SOUTH. 4715142 8936040 A BREVARD COLLEGE EDUCATION EXTENDS FAR BEYOND THE WALLS OF A CLASSROOM. OF 836 STUDENTS, 669 PARTICIPATED IN THE COLLEGE'S RESIDENTIAL EDUCATIONAL EXPERIENCE. ALL OF THE FACILITIES ON THE BREVARD COLLEGE CAMPUS ARE JUST A SHORT WALK OR BIKE AWAY. THIS DESIGN ALLOWS STUDENTS TO FOCUS ON EDUCATION, GROWTH AND FUN WITHOUT THE HASSLE OF THE RUSHING FROM PLACE TO PLACE. THE RELAXED ATMOSPHERE OF COMFORTABLE LIVING AND DINING SPACES ARE COMPLEMENTED WITH THE STATE-OF-THE-ART EDUCATION FACILITIES INCLUDING A MODERN LIBRARY AND A WORLD-CLASS CONCERT HALL. 29888569 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 0 0 1 1 0 1 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 134 0 1 713 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 24 24 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NC X DR BRADLEY J ANDREWS 8288848264 ONE BREVARD COLLEGE DRIVE BREVARD NC 28712 W HEATHLEY WELDON CHAIR 1.00 0.00 X X 0 0 0 J PHILLIP JEROME VICE-CHAIR 1.00 0.00 X X 0 0 0 W BRADLEY LAKESON JR SECRETARY 1.00 0.00 X X 0 0 0 DR BETSY O BAREFOOT DIRECTOR 1.00 0.00 X 0 0 0 DR B BARBARA BOERNER DIRECTOR 1.00 0.00 X 0 0 0 DR JOHN S BOGGS DIRECTOR 1.00 0.00 X 0 0 0 ISAAC BRADLEY DIRECTOR 1.00 0.00 X 0 0 0 LT GENERAL RONALD L BURGESS JR DIRECTOR 1.00 0.00 X 0 0 0 JOE DEPIPPO DIRECTOR 1.00 0.00 X 0 0 0 ART FISHER DIRECTOR 1.00 0.00 X 0 0 0 CALVIN HARRELSON III DIRECTOR 1.00 0.00 X 0 0 0 REGINALD D HEINITSH JR DIRECTOR 1.00 0.00 X 0 0 0 BARBARA A HULSEY DIRECTOR 1.00 0.00 X 0 0 0 A EDWIN JONES DIRECTOR 1.00 0.00 X 0 0 0 DR MARK LEMEL DIRECTOR 1.00 0.00 X 0 0 0 BARBARA M NESBITT DIRECTOR 1.00 0.00 X 0 0 0 LEIGH ANN PICKUP DIRECTOR 1.00 0.00 X 0 0 0 ALFRED F PLATT JR DIRECTOR 1.00 0.00 X 0 0 0 FRANK STOKES DIRECTOR 1.00 0.00 X 0 0 0 JERRY STONE DIRECTOR 1.00 0.00 X 0 0 0 ELIZABETH O TAYLOR DIRECTOR 1.00 0.00 X 0 0 0 DONA D VAUGHN DIRECTOR 1.00 0.00 X 0 0 0 W GIL WEST DIRECTOR 1.00 0.00 X 0 0 0 ROGER HERBERT DIRECTOR 1.00 0.00 X 0 0 0 BRADLEY ANDREWS PRESIDENT 40.00 0.00 X 188194 0 18885 DEBORA D'ANNA VP STUDENT SUCCESS & SERVICES 40.00 0.00 X 109725 0 2186 R CHAD HOLT VP ADMISSIONS & FINANCIAL 40.00 0.00 X 116381 0 12547 JUAN MASCARO VP FOR FINANCE AND OPERATIONS 40.00 0.00 X 162553 0 11260 PATRICK WAGNER VP FOR ALUMNI AFFAIRS & DEV 40.00 0.00 X 161848 0 13546 JENNIFER FRICK-RUPPERT VP FOR ACADEMIC AFFAIRS 40.00 0.00 X 110535 0 15348 DAVID JOYCE FORMER PRESIDENT 40.00 0.00 X 115553 0 219 964789 0 73991 7 1 1 0 SYSCO CHARLOTTE LLC 4500 CORPORATE DR NW CONCORD NC 28027 FOOD SERVICE 950452 CAROLINA SPECIALTIES CONSTRUCTION 624 7TH AVE HENDERSONVILLE NC 28792 CONSTRUCTION 815860 CREDO DESIGN ARCHITECTS 940 GOLF HOUSE ROAD W 200 WHITSETT NC 27377 ARCHITECT 416197 YOUNG TRANSPORTATION 843 RIVERSIDE DR ASHEVILLE NC 28804 TRANSPORTATION 249222 JENZABAR INC 181 S LIBERTY ST HARRISONBURG VA 22801 SOFTWARE SERVICES 159191 7 97850 233947 3472983 254738 3804780 TUITION AND FEES 611310 22610444 22610444 AUXILIARY SERVICES 611310 8971660 8936040 35620 OTHER PROGRAM FEES 611310 936769 936769 32518873 829384 829384 15341476 14545062 796414 796414 796414 11510 97850 17142 -5632 -5632 37943819 32483253 35620 1620166 13006592 13006592 215804 147996 62572 5236 10189730 7755576 2176937 257217 100953 8036 88241 4676 1527159 111171 1409993 5995 741872 563122 159061 19689 9049 9049 125265 125265 102302 102302 823728 618968 200891 3869 2369624 2208288 105635 55701 3500 3500 2144962 1492549 652413 719707 631548 77215 10944 835780 130182 705598 2310218 2112925 197293 DUES & SUBSCRIPTIONS 582282 262054 301642 18586 964760 839562 125198 36773287 29888569 6499305 385413 3880 4306 7658740 11206191 2616508 779434 1058868 1040014 71381 46285 277478 249355 78510834 39030089 40323432 39480745 25325384 27161761 5077030 6175259 718403 807237 83131104 86950587 1694145 1735629 20261895 19571518 1046732 1056017 23002772 22363164 X 22895797 23397104 37232535 41190319 60128332 64587423 83131104 86950587 X 1170532 2971913 43088 273558 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 0 33654804 437392 4469441 1545045 37016592 34470393 910464 -234263 1491790 33654804 37793585 566622 -2089475 1800339 34470393 29304293 1920517 7826694 1257919 37793585 29185259 505658 1195973 1582597 29304293 0.02112 0.97888 0 0 512214 512214 64774412 33142856 31631556 6784519 3471407 3313112 6439689 2415826 4023863 39480745 MW EUREKA FUND 2443834 F HUDSON BAY INTERNATIONAL FUND 2000343 F BLUE OWL CREDIT INCOME CORP 1025358 F BLACKSTONE REAL ESTATE INCOME TRUST 456782 F OTHER INVESTMENTS 248942 F 6175259 ANNUITIES PAYABLE 108579 ASSET RETIREMENT OBLIGATION 812888 REFUNDABLE FEDERAL GOVERNMENT ADVANCES 134550 1056017 28097538 2971913 145943 3117856 24979682 102302 12861835 12964137 37943819 23681535 17142 17142 23664393 102302 13006592 13108894 36773287 PART III, LINE 4: TWO OF THE KEY MAJORS AT THE COLLEGE ARE ART AND MUSIC. THE ART COLLECTIONS ARE USED IN CLASSES AND ARE ALSO PART OF THE ACADEMIC CULTURE. PART V, LINE 4: THE ENDOWMENT FUNDS ARE USED TO SUPPORT THE INSTITUTION IN PERPETUITY FOR SCHOLARSHIPS, LECTURESHIPS AND VARIOUS OTHER OPERATIONS AND BUILDINGS ON CAMPUS. 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 XI, LINE 2D - OTHER ADJUSTMENTS: PRESENT VALUE ADJUSTMENTS TO ANNUITIES PAYABLE 57,109. CHANGE IN VALUE OF CHARITABLE TRUSTS 88,834. PART XI, LINE 4B - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EVENT EXPENSES -17,142. STUDENT FINANCIAL AID NETTED AGAINST REVENUE 12,878,977. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EVENT EXPENSES 17,142. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID NETTED AGAINST REVENUE 12,878,977. GEER GRANTS EXPENDED 127,615. 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 COLLEGE'S NON-DISCRIMINATION POLICY IS STATED IN ALL MAJOR PUBLICATIONS AND THE TRANSYLVANIA TIMES. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVED STUDENT FINANCIAL AID GRANTS FROM THE U.S. DEPARTMENT OF EDUCATION AND THE NC STATE EDUCATION ASSISTANCE AUTHORITY. THE COLLEGE ALSO RECEIVED GRANT FUNDING FROM THE HIGHER EDUCATION EMERGENCY RELIEF FUND, A PAYCHECK PROTECTION PROGRAM LOAN, AND THE EMPLOYEE RETENTION CREDIT THROUGH THE CARES ACT. EUROPE 0 0 INVESTMENTS 2443833 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 2000343 0 0 0 0 0 0 4444176 0 4444176 0 0 1 1 0 0 PART I, LINE 3: THE AMOUNT REPORTED IN PART I, LINE 3 REPRESENTS THE FAIR MARKET VALUE OF FOREIGN INVESTMENTS HELD AT THE END OF THE YEAR. GOLF TOURNAMENT 37210 35950 1260 450 1400 5659 200 325 GALA 72150 61900 10250 3655 3369 500 1584 109360 97850 11510 450 1400 3655 9028 700 1909 17142 -5632 1 STUDENT AID 800 12622065 TUITION RATES TUITION ASSISTANCE STUDENT AID PROVIDED BY GEER 26 127615 PART I, LINE 2: FINANCIAL AID IS AVAILABLE TO STUDENTS WHO CAN SHOW FINANCIAL NEED, ACADEMIC ACHIEVEMENT, LEADERSHIP/SERVICE, ATHLETICS ABILITY, AND/OR TALENT. ACADEMIC AND LEADERSHIP AWARDS ARE DETERMINED THROUGH THE ADMISSIONS AREA, ATHLETICS AWARDS ARE DETERMINED BY THE RESPECTIVE COACH, TALENT/DEPARTMENTAL AWARDS ARE DETERMINED THROUGH THOSE ACADEMIC AREAS, AND THE FINANCIAL AID OFFICE COORDINATES ALL AWARDS WITH FEDERAL, STATE AND INSTITUTIONAL NEED-BASED AID. NORTH CAROLINA GOVERNOR'S EMERGENCY EDUCATION RELIEF (GEER) FUNDS WERE AVAILABLE TO STUDENTS RESIDING IN NORTH CAROLINA, AS DETERMINED BY THE FAFSA. GRANTS WERE AWARDED TO QUALIFYING STUDENTS ON A FIRST-COME-FIRST-SERVED BASIS, BASED ON AN APPLICATION PROCESS FOR FALL AND SPRING TERMS. SUMMER TERM AMOUNTS AWARDED WERE BASED ON EACH STUDENT'S CREDIT HOURS DURING THE APPLICABLE SEMESTER. X X X 1 1 X X X X X 1 0 0 0 0 0 0 0 0 BRADLEY ANDREWS PRESIDENT 179794 0 0 0 8400 0 7403 0 11482 0 207079 0 0 0 PATRICK WAGNER VP FOR ALUMNI AFFAIRS & DEV 154648 0 0 0 7200 0 4417 0 9129 0 175394 0 0 0 JUAN MASCARO VP FOR FINANCE AND OPERATIONS 161353 0 0 0 1200 0 0 0 11260 0 173813 0 0 0 DAVID JOYCE FORMER PRESIDENT 115553 0 0 0 0 0 0 0 219 0 115772 0 0 0 PART I, LINE 1A THE PRESIDENT WAS PROVIDED A MEMBERSHIP AT A LOCAL COUNTRY CLUB TO BE USED FOR FUNDRAISING ACTIVITIES AND OTHER COLLEGE BUSINESS. USE OF THE MEMBERSHIP IS SUBSTANTIATED. LASTLY, THE COLLEGE ALSO PROVIDES HOUSING AND WEEKLY HOUSEKEEPING SERVICES TO THE PRESIDENT FOR THE CONVENIENCE OF THE EMPLOYER SO THAT THE PRESIDENT CAN PERFORM ESSENTIAL COLLEGE BUSINESS AND ACTIVITIES AT THE HOME. BOTH BENEFITS ARE A CONDITION OF EMPLOYMENT AND THEREFORE ARE NOT TREATED AS TAXABLE. PART I, LINE 4A THE FORMER PRESIDENT, DAVID JOYCE, WAS ENTITLED TO A SEVERANCE BENEFIT. THE PAYOUT OF SUCH BENEFIT WAS EFFECTIVE AS OF RETIREMENT, PROVIDED FULFILLMENT OF DAVID JOYCE'S CONTRACT THROUGH DECEMBER 31, 2021. THE FORMER PRESIDENT IS TO BE PAID 100% OF HIS BASE SALARY FOR AN ENTITLEMENT PERIOD OF 24 MONTHS. DAVID JOYCE RECEIVED PAYMENT UNDER THE PLAN DURING CALENDAR YEAR 2023 IN THE AMOUNT OF $115,553. X 6 248932 AVG. TRADING VALUE X MISC ITEMS 18 5806 FMV 0 0 1 0 PART I, COLUMN (B): NUMBER OF CONTRIBUTIONS FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE OF THE BOARD REVIEWED FORM 990 PRIOR TO ITS FILING WITH THE IRS. AFTER THE AUDIT COMMITTEE FINALIZED ITS REVIEW AND OFFICIALLY ACCEPTED THE FORM 990, A COPY OF THE PUBLIC DISCLOSURE COPY WAS MADE AVAILABLE TO ALL BOARD MEMBERS. BOARD MEMBERS WERE PROVIDED AN OPPORTUNITY TO COMMENT ON THE FORM PRIOR TO ITS FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE MEMBERS OF THE BOARD OF TRUSTEES AND OFFICERS ARE REQUIRED TO SIGN A COPY OF THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS. IN THE EVENT A TRUSTEE HAS A POTENTIAL CONFLICT DURING THE YEAR, THAT TRUSTEE WOULD RECUSE HIMSELF/HERSELF FROM ANY DISCUSSION OR VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS ADOPTED BY THE PRESIDENT'S COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES FOR ITS ANNUAL DETERMINATION OF THE COMPENSATION OF THE PRESIDENT IS AS FOLLOWS: BY THE END OF THE WINTER BOARD OF TRUSTEES' MEETING, THE BOARD WILL ADVISE THE PRESIDENT WHETHER HIS OR HER CONTRACT WILL BE RENEWED. BY APRIL 1ST, THE PRESIDENT WILL SUBMIT A SELF-ASSESSMENT TO THE COMPENSATION COMMITTEE RESPONDING TO EACH OBJECTIVE. BY MAY 1ST, THE COMPENSATION COMMITTEE WILL REVIEW THE REPORT, COMMUNICATE ITS FEEDBACK TO THE PRESIDENT, AND ISSUE A REPORT AND PRESIDENTIAL SALARY AND BENEFITS RECOMMENDATION TO THE EXECUTIVE COMMITTEE. THE COMPENSATION COMMITTEE WILL USE AT LEAST TWO SOURCES OF COMPARABLE DATA TO DETERMINE THE APPROPRIATE SALARY AND BENEFITS. THOSE SOURCES ARE GENERALLY THE ANNUAL COMPENSATION REPORTS OF THE AGB (ASSOCIATION OF GOVERNING BOARD) AND THE NCICU (NORTH CAROLINA INDEPENDENT COLLEGES AND UNIVERSITIES). HOWEVER, SIMILAR SOURCES MAY BE USED AS ALTERNATIVES FROM TIME TO TIME. DOCUMENTATION OF THE COMPARABLE DATA USED WILL BE PART OF THE PERMANENT FILE SUBSTANTIATING COMPENSATION. THE EXECUTIVE COMMITTEE WILL MAKE A FINAL DECISION ABOUT THE PRESIDENT'S SALARY BEFORE THE SPRING BOARD OF TRUSTEES MEETING FOR FINAL APPROVAL BY THE BOARD DURING THE SPRING MEETING. WITH REGARDS TO SENIOR STAFF, MARKET DATA FROM THE NORTH CAROLINA INDEPENDENT COLLEGES AND UNIVERSITIES ON ADMINISTRATIVE SALARIES WILL BE REVIEWED BY THE PRESIDENT. THE PRESIDENT WILL ADVISE THE BOARD WHO WILL APPROVE COMPENSATION FOR THE SENIOR STAFF. ADDITIONALLY, THE COLLEGE RECENTLY PARTICIPATED IN A WAGE STUDY THROUGH AGB AND THAT DATA IS AVAILABLE TO CONFIRM WAGES OF THE PRESIDENT AND OTHER KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: PRESENT VALUE ADJUSTMENTS TO ANNUITIES PAYABLE 57,109. CHANGE IN VALUE OF CHARITABLE TRUSTS 88,834. GEER GRANTS EXPENDED 127,615. BREVARD COLLEGE REAL ESTATE LLC ONE BREVARD COLLEGE DRIVE BREVARD NC 28712 560532297 REAL ESTATE HOLDING COMPANY NC 64965 2156584 BREVARD COLLEGE