2023-05-05T12:23:05-05:00 2022-06-30 363168081 SIKICH LLP 3051 HOLLIS DRIVE 3RD FLOOR SPRINGFIELD IL 62704 990 2021-07-01 560543261 MONTREAT COLLEGE MONT 8286698012 PO BOX 1267 MONTREAT NC 287570121 JOHN W BEAGHAN CFO 8286698012 2023-05-04 1 JOHN BEAGHAN 999009999 JILL M BOYLE CPA P01246734 2177933363 2023-05-04 0 AAL1 IAL1 2021 2023-04-26 12:10:37Z PAUL MAURER PO BOX 1267 MONTREAT NC 287570121 59510830 0 X WWW.MONTREAT.EDU X 1947 NC INDEPENDENT, CHRIST-CENTERED, LIBERAL ARTS INSTITUTION 21 21 314 62 0 0 12505995 28763176 25547512 28375092 428480 478513 847821 1543710 39329808 59160491 9433666 10378090 0 0 9033997 12509276 0 0 928625 14264311 17215555 32731974 40102921 6597834 19057570 33516300 53134653 9777542 10473783 23738758 42660870 X MONTREAT COLLEGE IS AN INDEPENDENT, CHRIST-CENTERED, LIBERAL ARTS INSTITUTION THAT EDUCATES STUDENTS THROUGH INTELLECTUAL INQUIRY, SPIRITUAL FORMATION, AND PREPARATION FOR CALLING AND CAREER. 0 0 24468551 29766002 THE COLLEGE PROVIDES A BROAD, RIGOROUS LIBERAL ARTS CURRICULUM WITH AN EMPHASIS ON TRADITIONAL AND SELECTED UNDERGRADUATE AND GRADUATE PROFESSIONAL DEGREE PROGRAMS, INCLUDING DEGREE PROGRAMS FOR ADULT LEARNERS AND PROGRAMS AT GEOGRAPHICALLY DISTANT LOCATIONS. OURSTATEMENTS OF MISSION, VISION AND FAITH HAVE FORMED THE FOLLOWING EDUCATIONAL OBJECTIVES AT MONTREAT COLLEGE.1.THAT STUDENTS WILL DEVELOP AN INFORMED, BIBLICAL WORLD VIEW INCLUDING THE FOLLOWING:- THE SOVEREIGNTY OF GOD OVER ALL CREATION AND KNOWLEDGE;- A LIFESTYLE OF CHRISTIAN SERVICE TO OTHERS AND THE COMMUNITY;- THE RECOGNITION OF THE INTRINSIC WORTH OF SELF AND ALL PERSONS;- A GENUINE CRITICAL OPENNESS TO THE IDEAS AND BELIEFS OF OTHERS;- THE FORMATION OF VALUES AND ETHICAL REASONING;- AN APPRECIATION FOR WHAT IS BEAUTIFUL, TRUE AND GOOD IN THE ARTS AND LITERATURE;-A RESPECT FOR AND ATTITUDE OF STEWARDSHIP TOWARD THE WHOLE OF CREATION;- AN UNDERSTANDING OF THE PAST AND ITS INTERCONNECTEDNESS WITH THE PRESENT AND FUTURE.2. THAT STUDENTS WILL DEMONSTRATE EFFECTIVE WRITTEN AND ORAL COMMUNICATION SKILLS.3. THAT STUDENTS WILL DEMONSTRATE CRITICAL THINKING AND PROBLEM-SOLVING SKILLS.4. THAT STUDENTS WILL DEMONSTRATE ESSENTIAL COMPUTER INFORMATION SYSTEMS SKILLS.5. THAT STUDENTS WILL DEMONSTRATE COMPETENCY IN THEIR ACADEMIC MAJORS.6. THAT STUDENTS WILL DEVELOP INTERPERSONAL AND TEAM SKILLS AND AN UNDERSTANDING AND APPRECIATION OF THEIR PERSONAL STRENGTHS AND WEAKNESSES.7. THAT STUDENTS WILL BECOME REFLECTIVE AND RESPONSIBLE CITIZENS, EFFECTIVE LEADERS, AND COMMITTED LAITY. 10378090 10378090 TO PROVIDE SCHOLARSHIPS AND SIMILAR FINANCIAL AIDIN TAX YEAR 2021, THERE WERE INSTITUTIONAL AWARDS TO 728 STUDENTS. 34846641 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 1 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 85 0 314 1 0 0 0 0 0 0 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X THE ORGANIZATION 8286698012 PO BOX 1267 MONTREAT NC 287570121 JEFF HECK CHAIRMAN 1.00 X X 0 0 0 BOB KLEPPER VICE CHAIR 1.00 X X 0 0 0 BEAU MOFFATT SECRETARY 1.00 X X 0 0 0 TYLER JOHNSON TRUSTEE 1.00 X 0 0 0 NED KISER TRUSTEE 1.00 X 0 0 0 DAVID BRUCE TRUSTEE 1.00 X 0 0 0 MATTHEW BURRIL TRUSTEE 1.00 X 0 0 0 ROGER OXENDALE TRUSTEE 1.00 X 0 0 0 CLAIRE EFIRD TRUSTEE 1.00 X 0 0 0 EDWARD GRAHAM TRUSTEE 1.00 X 0 0 0 MARK TOONE TRUSTEE 1.00 X 0 0 0 LE ERWIN TRUSTEE 1.00 X 0 0 0 BILL SHIPLEY TRUSTEE 1.00 X 0 0 0 CHARLIE DAVIDSON TRUSTEE 1.00 X 0 0 0 LYNNE VEERMAN TRUSTEE 1.00 X 0 0 0 RICHARD MILAM TRUSTEE 1.00 X 0 0 0 JIM MOORE TRUSTEE 1.00 X 0 0 0 ANNE GANT TRUSTEE 1.00 X 0 0 0 PHILIP KOSNETT TRUSTEE 1.00 X 0 0 0 GEORGE LOGAN TRUSTEE 1.00 X 0 0 0 SUZANNE SLOAN TRUSTEE 1.00 X 0 0 0 PAUL MAURER CEO 50.00 1.00 X 264544 0 20418 EUGENE JOHN TRUSCHEL CFO (THRU 12.31.21) 50.00 1.00 X 136870 0 13709 JOHN BEAGHAN CFO (START 4.1.22) 50.00 1.00 X 0 0 0 RHONDA DEVANVAULT INTERIM CFO (1/22-4/22)/ASST VP OF FINAN 40.00 1.00 X 0 0 0 ADAM BRICKER EXEC DIR CAROLINA CYBER CENTER (THRU 5.31.22) 40.00 X 169543 0 20158 DAVID POOLE CHIEF ACADEMIC OFFICER FOR AGS 40.00 X 145556 0 20205 716513 0 74490 4 0 1 0 ARAMARK 2400 MARKET ST PHILADELPHIA PA 19103 FOOD SERVICES 2803219 THE KEITH CORPORATION 4500 CAMERON VALLEY PKWY STE 400 CHARLOTTE NC 28211 JANITORIAL/FACILITIES SERVICES 1684301 IN FOCUS ADVERTISING 23371 MULHOLLAND DR STE 454 WOODLAND HILLS CA 91364 ADVERTISING SERVICES 750233 SLING SHOT 1500 S WESTERN AVE MARION IN 46953 STUDENT BOOK RENTALS/CIRRICULUM 601082 212 SOUTH TRYON 212 S TRYON STREET STE 170 CHARLOTTE NC 28281 SPACE RENTAL 335294 15 85950 18622812 10054414 118277 28763176 TUITION AND FEES 611110 22060124 22060124 AUXILIARY SERVICES 611110 6314968 6314968 28375092 302395 302395 489341 37116 330091 20248 159250 16868 176118 176118 OTHER REVENUE 900099 835413 835413 CAMPUS STORE 900099 708297 708297 1543710 59160491 29918802 0 478513 10378090 10378090 548745 548745 9468671 8196014 861038 411619 1817902 1554505 185327 78070 673958 555240 90833 27885 6532 6532 711510 436688 253644 21178 1617735 1279637 294947 43151 1748348 820009 927826 513 1059836 912829 44026 102981 373243 119418 253825 1174549 949962 176878 47709 422603 344963 60315 17325 FOOD AND OTHER CONTRACT 7407496 6543879 773919 89698 REPAIRS, MAINTENANCE AN 1786850 939579 846939 332 OTHER EXPENSE 733262 282071 440055 11136 BAD DEBT 173591 173591 1533757 -1610785 77028 40102921 34846641 4327655 928625 8401868 3075433 15584717 2214784 9473050 1280502 1468052 335605 93412 123175 508103 369369 39544553 22481862 14116974 17062691 3563436 2535994 151254 209947 1165100 2020867 2896620 33516300 53134653 1873415 3431170 1011885 372301 433642 2645095 -3333 4418143 2282650 184051 1859739 1742567 9777542 10473783 X 12515982 15471981 11222776 27188889 23738758 42660870 33516300 53134653 X 19057570 -825481 784929 -94906 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 0 0 0 10155305 144146 -691867 254726 9352858 9220997 131321 1002328 199341 10155305 9001056 54532 330456 165047 9220997 8794378 67071 373967 234360 9001056 8468046 51122 484510 209300 8794378 1.00000 0 1 1 3415206 3415206 6317412 4950338 1367074 22730439 12889442 9840997 6038822 4509041 1529781 1042674 133041 909633 17062691 DUE FROM FOUNDATION 2896620 2896620 ANNUITIES PAYABLE 707585 CAPITAL LEASE OBLIGATION 76228 ASSET RETIREMENT OBLIGATION 355000 STUDENT DEPOSITS 603754 1742567 X PART III, LINE 4: THE FINE ARTS COLLECTION EXISTS TO SUPPORT THE GENERAL MISSION OF THE COLLEGE BY PROMOTING AWARENESS AND UNDERSTANDING OF A BROAD SPECTRUM OF ARTISTIC EXPRESSION. AS UNIQUE EXPRESSIONS OF THE HUMAN CONDITION, WORKS IN THE COLLECTION INVIGORATE LEARNING AND TEACHING AND PROVIDE EXPANDED OPPORTUNITIES FOR STUDY, RESEARCH, AND INDIVIDUAL BELIEFS. THE ART CONTRIBUTES TO THE OVERALL EDUCATIONAL AND CULTURAL FUNCTIONS OF THE COLLEGE AND BY OBSERVATIONS, THE EXHIBITIONS OF THE WORKS CONTINUE TO SUPPORT THE CURRICULAR OFFERINGS IN ART EDUCATION AND BIBLICAL STUDIES, PROVIDE AESTHETIC STIMULATION TO VIEWERS, AND ENHANCE EXPERIENCE FOR THE CAMPUS AREA COMMUNITY. PART V, LINE 4: THE ORGANIZATION'S INTENDED USE OF ENDOWMENT FUNDS IS TO INVEST THE ENDOWMENT ASSETS IN AN ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY THE ENDOWMENTS WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ASSETS. PART X, LINE 2: THE COLLEGE AND THE FOUNDATION ARE NONPROFIT ORGANIZATIONS THAT ARE EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE (IRC) SECTION 501(C)(3). ACCORDINGLY, THERE IS NO INCOME TAX PROVISION INCLUDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THE COLLEGE AND FOUNDATION ARE NOT CONSIDERED A PRIVATE FOUNDATION. 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 RACIALLY NONDISCRIMINATORY POLICY IS MADE KNOWN TO THE COMMUNITY AS DESCRIBED IN NUMBER 3 ABOVE. THE POLICY IS ALSO INCLUDED IN THE FACULTY AND EMPLOYEE HANDBOOKS. SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES FEDERAL FINANCIAL AID FOR STUDENTS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 108693 0 0 0 0 0 0 108693 0 108693 0 0 0 1 0 0 PART III ACCOUNTING METHOD: 1 SCHOLARSHIPS 728 10378090 PART I, LINE 2: DEPENDING ON THE REQUIREMENTS OF THE FUND SOURCES, FINANCIAL AID AND ALL TITLE IV AND STATE REGULATIONS ARE MONITORED, RECONCILED AND FOLLOWED DAILY BY TRAINED AND EXPERIENCED PROFESSIONAL STAFF THAT STAY UP TO DATE ON ANY CHANGES IN REGULATION THOUGH PROFESSIONAL DEVELOPMENT TRAINING. X 1 0 X X X 0 0 0 0 0 0 0 0 0 PAUL MAURER CEO 228544 0 0 0 36000 0 0 0 20418 0 284962 0 0 0 ADAM BRICKER EXEC DIR CAROLINA CYBER CENTER (THRU 169543 0 0 0 0 0 0 0 20158 0 189701 0 0 0 DAVID POOLE CHIEF ACADEMIC OFFICER FOR AGS 145556 0 0 0 0 0 0 0 20205 0 165761 0 0 0 EUGENE JOHN TRUSCHEL CFO (THRU 12.31.21) 136870 0 0 0 0 0 0 0 13709 0 150579 0 0 0 PART I, LINE 1A THE ORGANIZATION PROVIDED THE PRESIDENT WITH A HOUSING ALLOWANCE AS PART OF HIS EMPLOYMENT AND RESPONSIBILITIES AS SERVING AS THE COLLEGE PRESIDENT. THE ESTIMATED VALUE OF THESE SERVICES ARE $36,000. PART I, LINE 3 THE ORGANIZATION USES COMPARABILITY DATA FROM FORMS 990 OF OTHER SIMILAR ORGANIZATIONS AND FROM A COMPENSATION STUDY TO DETERMINE THE SALARIES FOR THE PRESIDENT/CEO AND OTHER OFFICERS. THE PRESIDENT/CEO'S SALARY IS DETERMINED AND APPROVED BY THE INDEPENDENT BOARD OF TRUSTEES ANNUALLY AFTER REVIEWING COMPARABILITY DATA. X 3 118277 FMV 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE 990 WAS PRESENTED TO THE ENTIRE BOARD OF TRUSTEES FOR THEIR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C A TRUSTEE SHALL BE CONSIDERED TO HAVE A CONFLICT OF INTEREST IF (A) SUCH TRUSTEE HAS EXISTING OR POTENTIAL FINANCIAL OR OTHER INTEREST WHICH IMPAIR OR MIGHT REASONABLY APPEAR TO IMPAIR SUCH MEMBER'S INDEPENDENT, UNBIASED JUDGMENT IN THE DISCHARGE OF THE TRUSTEE'S RESPONSIBILITIES TO THE COLLEGE OR (B) SUCH TRUSTEE IS AWARE THAT A MEMBER OF THE TRUSTEE'S FAMILY, OR ANY ORGANIZATION IN WHICH SUCH TRUSTEE (OR MEMBER OF THE TRUSTEE'S FAMILY) IS AN OFFICER, DIRECTOR, EMPLOYEE, MEMBER, PARTNER, TRUSTEE, OR CONTROLLING STOCKHOLDER, HAS SUCH EXISTING OR POTENTIAL FINANCIAL OR OTHER INTERESTS. ALL TRUSTEES SHALL DISCLOSE TO THE BOARD ANY POSSIBLE CONFLICT OF INTEREST AT THE EARLIEST PRACTICAL TIME. FURTHERMORE, THE TRUSTEE SHALL ABSENT HIMSELF/HERSELF FROM DISCUSSIONS OF, AND ABSTAIN FROM VOTING ON, SUCH MATTERS UNDER CONSIDERATION BY THE BOARD OF TRUSTEES OR ITS COMMITTEES. THE MINUTES OF SUCH MEETINGS SHALL REFLECT THAT A DISCLOSURE WAS MADE AND THAT THE TRUSTEE HAVING A CONFLICT OR POSSIBLE CONFLICT ABSTAINED FROM VOTING. ANY TRUSTEE WHO IS UNCERTAIN WHETHER A CONFLICT OF INTEREST MAY EXIST IN ANY MATTER MAY REQUEST THE BOARD OR COMMITTEE TO RESOLVE THE QUESTION IN THE TRUSTEE'S ABSENCE BY MAJORITY VOTE. EACH TRUSTEE SHALL COMPLETE AND SIGN A DISCLOSURE FORM PROVIDED ANNUALLY BY THE SECRETARY OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATIONS USES COMPARABILITY DATA FROM FORMS 990 OF OTHER SIMILAR ORGANIZATIONS AND FROM A COMPENSATION STUDY TO DETERMINE THE SALARIES FOR THE PRESIDENT/CEO AND OTHER OFFICERS. THE PRESIDENT/COE'S SALARY IS DETERMINED AND APPROVED BY THE INDEPENDENT BOARD OF DIRECTORS ANNUALLY AFTER REVIEWING COMPARABILITY DATA. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN ANNUITIES PAYABLE -94,906. MONTREAT COLLEGE FOUNDATION PO BOX 1267 MONTREAT NC 28757 561324199 TO SUPPORT THE EDUCATIONAL PURPOSE OF MONTREAT COLLEGE NC 501(C)(3) LINE 12B, II MONTREAT COLLEGE 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0