2022-05-03T13:56:55-05:00 2021-06-30 560574444 CHERRY BEKAERT LLP 110 EAST COURT STREET SUITE 500 GREENVILLE SC 29601 990 2020-07-01 570314380 CONVERSE COLLEGE CONV 8645969000 580 EAST MAIN STREET SPARTANBURG SC 29302 BOONE HOPKINS PRESIDENT 8645969000 2022-04-22 1 BOONE HOPKINS 999009999 AMANDA ADAMS P00748038 8642333981 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z BOONE HOPKINS 580 EAST MAIN STREET SPARTANBURG SC 29302 71003165 0 X WWW.CONVERSE.EDU X 1889 SC CONVERSE COLLEGE 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. 29 29 674 29 0 0 8332797 10736013 22847873 21286655 1579902 4485265 -76500 -14154 32684072 36493779 4899500 5073551 0 0 15720679 16715842 0 0 1716264 13181681 13551386 33801860 35340779 -1117788 1153000 163727605 179052954 41377697 35622365 122349908 143430589 X THE PRIMARY MISSION OF CONVERSE COLLEGE 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 24187348 4404642 17455964 FOUNDED IN 1889, CONVERSE COLLEGE 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 COLLEGE HAS APPROXIMATELY 1,418 STUDENTS ENROLLED. 4243343 668909 3830691 CONVERSE COLLEGE IS A RESIDENTIAL COLLEGE, 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. 28430691 1 1 0 0 0 0 0 1 1 1 1 1 0 1 1 1 1 0 1 0 1 0 0 0 0 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 1538 0 1 674 1 0 0 0 0 0 0 0 0 0 0 0 0 X 29 29 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X DIANNE CROCKER VP FINANCE ADMIN 8645969028 580 EAST MAIN STREET SPARTANBURG SC 29302 SANDRA MORELLI CHAIR 1.00 X X 0 0 0 WALLACE PRESTWOOD VICE CHAIR 1.00 X X 0 0 0 SANDRA HARTNETT SECRETARY 1.00 X X 0 0 0 PHILIP ASHERMAN TRUSTEE 1.00 X 0 0 0 LAURA BAUKNIGHT TRUSTEE 1.00 X 0 0 0 RANDALL CHAMBERS TRUSTEE 1.00 X 0 0 0 DEBRA CLEMENTS TRUSTEE 1.00 X 0 0 0 RHONDA COKER TRUSTEE 1.00 X 0 0 0 CHRISTOPHER DORRANCE TRUSTEE 1.00 X 0 0 0 KATHERINE FULMER TRUSTEE 1.00 X 0 0 0 PHYLLIS HARRIS TRUSTEE 1.00 X 0 0 0 DR PADRICA HOPKINS TRUSTEE 1.00 X 0 0 0 STEPHEN JOHNSON TRUSTEE 1.00 X 0 0 0 KARLA JONES TRUSTEE 1.00 X 0 0 0 LILLIAN LILLY TRUSTEE 1.00 X 0 0 0 JADA MCABEE TRUSTEE 1.00 X 0 0 0 FAIN MCDANIEL TRUSTEE 1.00 X 0 0 0 ERICA MOORE TRUSTEE 1.00 X 0 0 0 AMY MORALES TRUSTEE 1.00 X 0 0 0 LINDA REDDING TRUSTEE 1.00 X 0 0 0 TINA ROHNER TRUSTEE 1.00 X 0 0 0 EMILY RUSHING TRUSTEE 1.00 X 0 0 0 DAVID SMART TRUSTEE 1.00 X 0 0 0 ALLEN SMITH TRUSTEE 1.00 X 0 0 0 LOUIS SMITH TRUSTEE 1.00 X 0 0 0 JULIE STAGGS TRUSTEE 1.00 X 0 0 0 DWIGHT VAN INWEGEN TRUSTEE 1.00 X 0 0 0 ELIZABETH VINGI TRUSTEE 1.00 X 0 0 0 DR KAY WOODWARD TRUSTEE 1.00 X 0 0 0 KRISTA NEWKIRK JD PRESIDENT 40.00 X 277100 0 37746 DR JEFFREY BARKER PROVOST 40.00 X 146523 0 24083 KRISTA BOFILL VP INSTITUTIONAL ADVANCEMENT 40.00 X 163800 0 3264 DIANNE CROCKER VP FOR FINANCE & BUSINESS 40.00 X 112167 0 15197 JAMIE GRANT VP FOR ENROLLMENT MANAGEMENT 40.00 X 96600 0 8565 KRISTIN LACEY VP OPERATIONS & STRATEGIC PLANNING 40.00 X 78207 0 8301 MICHAEL KENNEDY ASSISTANT VP FOR PHILANTHROPY 40.00 X 123831 0 23622 HOLLY DUNCAN CHIEF COMMUNICATIONS OFFICER 40.00 X 120000 0 15529 BOONE HOPKINS DEAN, PETRIE SCHOOL OF MUSIC 40.00 X 108000 0 8883 JOE DUNN PROFESSOR 40.00 X 105633 0 8592 JOHN Z CORBITT CHIEF INFORMATION OFFICER 40.00 X 102790 0 2056 1434651 0 155838 9 0 1 0 AVI FOOD SYSTEMS INC 2590 ELM RD WARREN OH 44483 DINING SERVICES 1040518 THE BUDD GROUP INC PO BOX 890856 CHARLOTTE NC 282890856 FACILITIES 772513 MCCARTER MECHANICAL INC 685 JOHN DODD RD SPARTANBURG SC 29303 ELECTRICAL 396271 ROEBUCK WHOLESALE NURSERY & LANDSCAPING PO BOX 1053 ROEBUCK SC 29376 GROUNDS 394790 NRCCUA 75 REMITTANCE DR DEPT 1020 CHICAGO IL 60675 ADMISSIONS RECRUITING 310441 18 5288871 5447142 381653 10736013 TUITION AND FEES 611710 17333766 17333766 ROOM AND BOARD 532000 3830691 3830691 SUMMER WORKSHOPS 532000 83998 83998 ALUMNAE/CAMPUS LIFE 900099 28730 28730 9470 9470 21286655 758572 758572 155999 170153 -14154 -14154 -14154 38065926 34339233 3726693 3726693 3726693 36493779 21286655 0 4471111 5073551 5073551 994227 320622 526305 147300 12507917 10006333 1876188 625396 165098 132078 24765 8255 2088548 1670839 313282 104427 960052 768041 144008 48003 38263 38263 58495 58495 325855 325855 1925375 1444031 288806 192538 426517 298561 63978 63978 479308 383447 71896 23965 1068688 908385 106869 53434 41141 34970 4114 2057 992466 843596 99247 49623 2684069 2281459 268407 134203 484605 484605 FOOD SERVICE 1179767 1002802 117977 58988 REPAIRS/MAINTENANCE 679374 577468 67937 33969 STUDENT PROGRAMS 281072 238911 28107 14054 UPGRADES/RENOVATIONS 242763 206349 24276 12138 2643628 2239248 260444 143936 35340779 28430691 5193824 1716264 10146837 8255789 11477532 11330182 2808334 2769123 558811 435489 739858 643199 81211 285570 109984601 58843674 52438122 51140927 45772664 57803992 25376180 29842650 14328056 16546033 163727605 179052954 2366986 2527814 451605 484773 29643850 28518358 322341 416740 5194138 1830111 3398777 1844569 41377697 35622365 X 37879401 41115890 84470507 102314699 122349908 143430589 163727605 179052954 X 1153000 14905533 5022148 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 0 1 X 77529115 811789 18864643 4392212 92813335 78372082 3049775 307694 4200436 77529115 78739686 1187647 2765229 4320480 78372082 76725203 1092187 5087889 4165593 78739686 70303052 2304955 8125647 4008451 76725203 0.07610 0.92390 0.00000 0 0 1877496 1877496 83531655 41857611 41674044 24506700 16986063 7520637 68750 68750 51140927 HEDGE FUNDS 22436821 F LIMITED PARTNERSHIPS 7405829 F 29842650 CONTRIBUTIONS RECEIVABLE FROM REMAINDER TRUSTS 10533842 PERPETUAL TRUST HELD BY THIRD PARTY 5482529 MISCELLANEOUS RECEIVABLES 354662 PROPERTY HELD FOR SALE 175000 16546033 POST-RETIREMENT BENEFITS 38575 OBLIGATIONS FROM SPLIT INTEREST AGREEMENTS 120154 REVOLVING PERKINS LOAN LIABILITY 693154 ASSET RETIREMENT OBLIGATION 209791 INTEREST RATE SWAP 782895 1844569 X 50479237 14905533 3808592 18714125 31765112 324025 4404642 4728667 36493779 32165974 1553862 1553862 30612112 324025 4404642 4728667 35340779 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 COLLEGE HOLDS FUNDS IN A CUSTODIAL CAPACITY FOR STUDENT ORGANIZATIONS. PART V, LINE 4: THE INTENDED USES OF CONVERSE COLLEGE'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 COLLEGE IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE COLLEGE HAS EVALUATED THE EFFECT OF U.S. GAAP GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT BELIEVES THAT THE COLLEGE CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION. MANAGEMENT ALSO BELIEVES THAT THERE ARE NO OTHER UNCERTAIN TAX POSITIONS AT JUNE 30, 2021 OR 2020. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 170,153. CHANGE IN VALUE OF REMAINDER TRUST AGREEMENTS 3,638,439. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 4,404,642. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 170,153. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 1,383,709. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 4,404,642. 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 COLLEGE PRINTS A NONDISCRIMINATORY CLAUSE ON ALL MAJOR PUBLICATIONS, INCLUDING BUT NOT LIMITED TO EMPLOYMENT APPLICATIONS, COURSE CATALOGS, ADMISSION APPLICATIONS, AND THE COLLEGE'S WEBSITE, AS REQUIRED BY THE OFFICE OF CIVIL RIGHTS. SCHEDULE E, PART I, LINE 6 THE COLLEGE 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. CONVERSE WAS ALSO AWARDED FUNDING FROM THE HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF) THROUGH THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY (THE "CARES") ACT TO PROVIDE EMERGENCY FINANCIAL AID GRANTS TO STUDENTS FOR EXPENSES RELATED TO THE DISRUPTION OF CAMPUS OPERATIONS AND TO COVER EXPENSES ASSOCIATED WITH SIGNIFICANT CHANGES TO THE DELIVERY OF INSTRUCTION DUE TO THE CORONAVIRUS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 13306340 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 774606 0 0 0 0 0 0 14080946 0 14080946 1 0 1 1 1 0 PART III ACCOUNTING METHOD: PARTS I AND IV 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. 1 GRANTS AND SCHOLARSHIPS TO ATTEND CONVERSE 733 4404642 TUITION RATES FINANCIAL AID CARES EMERGENCY GRANTS 325 668909 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. FOR CARES EMERGENCY GRANT AWARDS, FOR ELIGIBLE STUDENTS, THE INDIVIDUAL GRANT AMOUNT RELATED TO THE DISRUPTION BECAUSE OF CORONAVIRUS. THE U.S. DEPARTMENT OF EDUCATION PROVIDED GUIDANCE BASED UPON THE CARES ACT LEGISLATION THAT CONVERSE WAS REQUIRED TO FOLLOW WHEN DISTRIBUTING THE FUNDS. THE DISBURSEMENTS TO INSTITUTIONS OF HIGHER EDUCATION FROM THE FEDERAL GOVERNMENT WERE CALCULATED BASED ON ENROLLMENT AND THE ENROLLMENT OF STUDENTS ELIGIBLE FOR PELL GRANT FUNDS. IN ACCORDANCE WITH THOSE GUIDELINES, CONVERSE DISTRIBUTED THE FUNDS BY NEED AS DETERMINED BY THE EXPECTED FAMILY CONTRIBUTION (EFC) ESTABLISHED ON THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA). GRANTS WERE DETERMINED BASED ON EFC, RESIDENTIAL STATUS, AND THE STUDENT'S STATUS AT CONVERSE. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 KRISTA NEWKIRK JD PRESIDENT 277100 0 0 0 0 0 5350 0 32396 0 314846 0 0 0 DR JEFFREY BARKER PROVOST 146523 0 0 0 0 0 2930 0 21153 0 170606 0 0 0 KRISTA BOFILL VP INSTITUTIONAL ADVANCEMENT 163800 0 0 0 0 0 3264 0 0 0 167064 0 0 0 PART I, LINE 1A ALL OF THE PRESIDENT'S COMPENSATION PACKAGE IS WRITTEN IN HER ANNUAL COMPENSATION CONTRACT AND IS REVIEWED BY THE EXECUTIVE COMMITTEE. THE COLLEGE PROVIDES HOUSING AND WEEKLY HOUSEKEEPING SERVICES TO THE PRESIDENT FOR THE CONVENIENCE OF THE EMPLOYER SO THAT THE PRESIDENT CAN PERFORM ESSENTIAL BUSINESS AND ACTIVITIES AT THE HOME. THESE AMOUNTS ARE 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 6390000 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 27 381653 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 3,638,439. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 1,383,709. 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