2021-04-27T10:26:59-05:00 2020-06-30 560574444 CHERRY BEKAERT LLP 110 EAST COURT STREET SUITE 500 GREENVILLE SC 29601 990 2019-07-01 570314380 CONVERSE COLLEGE CONV 8645969000 580 EAST MAIN STREET SPARTANBURG SC 29302 KRISTA NEWKIRK PRESIDENT 8645969000 2021-04-22 1 AMANDA ADAMS P00748038 8642333981 2019 2022-09-23 18:48:47Z KRISTA NEWKIRK 580 EAST MAIN STREET SPARTANBURG SC 29302 54153082 0 X WWW.CONVERSE.EDU X 1889 SC CONVERSE COLLEGE IS A LIBERAL ARTS COLLEGE FOR WOMEN WHICH OFFERS UNDERGRADUATE AND CO-ED GRADUATE DEGREES. CONVERSE IS COMMITTED TO DEVELOPING ADAPTABLE INDIVIDUALS FOR THE 21ST CENTURY WHO ARE EQUIPPED WITH THE CHARACTER, KNOWLEDGE, SKILLS AND PERSPECTIVE TO TRANSFORM THE WORLD AROUND THEM. THE COLLEGE HAS APPROXIMATELY 1,580 STUDENTS. 29 29 748 29 0 0 7484060 8332797 24545129 22847873 2816671 1579902 35219 -76500 34881079 32684072 4390676 4899500 0 0 15328774 15720679 0 0 1683526 13771808 13181681 33491258 33801860 1389821 -1117788 163257031 163727605 34910564 41377697 128346467 122349908 X THE PRIMARY MISSION OF CONVERSE COLLEGE IS A LIBERAL ARTS EDUCATION OF UNDERGRADUATE WOMEN IN A RESIDENTIAL SETTING. STUDENTS PURSUE RICHLY DIVERSE PROGRAMS IN LIBERAL ARTS AND CAREER PREPARATIONS. CONVERSE BELIEVES THAT THE FOUNDER'S IDEAL IS TO CALL TO ARMS TO DEVELOP ENGAGED LEADERS WHO THINK CRITICALLY AND CREATIVELY AND AFFECT POSITIVE CHANGE IN THE WORLD. TODAY, INNOVATIVE PROGRAMS FOR GRADUATE AND ADVANCED STUDY COMPLEMENT THE UNDERGRADUATE PROGRAM. 0 0 22670282 4273317 18863414 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 IS A WOMEN'S COLLEGE THAT OFFERS CO-EDUCATIONAL 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 1,580 STUDENTS ENROLLED. 4530635 626183 3984459 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. 27200917 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 76 0 1 748 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 KRISTA NEWKIRK JD PRESIDENT 40.00 0.00 X 274600 0 33569 KRISTA BOFILL VP INSTITUTIONAL ADVANCEMENT 40.00 0.00 X 160596 0 3200 DR JEFFREY BARKER PROVOST 40.00 0.00 X 143650 0 19046 L WAYDE DAWSON VP FINANCE & ADMINISTRATION 40.00 0.00 X 130000 0 17425 MICHAEL KENNEDY ASSISTANT VP FOR PHILANTHROPY 40.00 0.00 X 121410 0 18594 BOONE HOPKINS DEAN, PETRIE SCHOOL OF MUSIC 40.00 0.00 X 106575 0 8243 JOE DUNN PROFESSOR 40.00 0.00 X 101373 0 7717 JOHN Z CORBITT CHIEF INFORMATION OFFICER 40.00 0.00 X 100774 0 2016 JAMIE GRANT VP FOR ENROLLMENT MANAGEMENT 40.00 0.00 X 82630 0 4986 PHYLLIS HARRIS CHAIR 1.00 0.00 X X 0 0 0 SANDRA MORELLI VICE CHAIR 1.00 0.00 X X 0 0 0 MARSHA GIBBS SECRETARY 1.00 0.00 X X 0 0 0 PHILIP ASHERMAN TRUSTEE 1.00 0.00 X 0 0 0 LAURA BAUKNIGHT TRUSTEE 1.00 0.00 X 0 0 0 MARY BOYD TRUSTEE 1.00 0.00 X 0 0 0 RANDALL CHAMBERS TRUSTEE 1.00 0.00 X 0 0 0 DEBRA CLEMENTS TRUSTEE 1.00 0.00 X 0 0 0 CHRISTOPHER DORRANCE TRUSTEE 1.00 0.00 X 0 0 0 CHRISTI EPPS TRUSTEE 1.00 0.00 X 0 0 0 AUSTIN FAULK TRUSTEE 1.00 0.00 X 0 0 0 KEN HOWARD TRUSTEE 1.00 0.00 X 0 0 0 STEPHEN JOHNSON TRUSTEE 1.00 0.00 X 0 0 0 DR ROSE JOHNSTON TRUSTEE 1.00 0.00 X 0 0 0 KIM KENT TRUSTEE 1.00 0.00 X 0 0 0 LILLIAN LILLY TRUSTEE 1.00 0.00 X 0 0 0 JADA MCABEE TRUSTEE 1.00 0.00 X 0 0 0 ERICA MOORE TRUSTEE 1.00 0.00 X 0 0 0 AMY MORALES TRUSTEE 1.00 0.00 X 0 0 0 PATRICK O'SHAUGHNESSY TRUSTEE 1.00 0.00 X 0 0 0 RICHARD PENNELL JR TRUSTEE 1.00 0.00 X 0 0 0 WALLACE PRESTWOOD TRUSTEE 1.00 0.00 X 0 0 0 LINDA REDDING TRUSTEE 1.00 0.00 X 0 0 0 JAYNE REUBEN PHD TRUSTEE 1.00 0.00 X 0 0 0 ALLEN SMITH TRUSTEE 1.00 0.00 X 0 0 0 JULIE STAGGS TRUSTEE 1.00 0.00 X 0 0 0 DWIGHT VAN INWEGEN TRUSTEE 1.00 0.00 X 0 0 0 ELIZABETH VINGI TRUSTEE 1.00 0.00 X 0 0 0 DR KAY WOODWARD TRUSTEE 1.00 0.00 X 0 0 0 1221608 0 114796 8 0 1 0 HARPER CORPORATION 35 W COURT STREET SUITE 400 GREENVILLE SC 29601 RENOVATION/CONSTRUCTION 1985867 SODEXO DINING 580 E MAIN STREET SPARTANBURG SC 29302 DINING SERVICES 1436042 PRODUCTIONS UNLIMITED INC 175 OLD AIRPORT ROAD ROEBUCK SC 29376 RENOVATION/CONSTRUCTION 880284 THE BUDD GROUP INC PO BOX 890856 CHARLOTTE NC 282890856 FACILITIES 794040 MINDPOWER INC 337 GEORGIA AVENUE SE ATLANTA GA 30312 MARKETING 339718 12 1192109 7140688 2365003 8332797 TUITION AND FEES 611710 18311102 18311102 ROOM AND BOARD 532000 3984459 3984459 SUMMER WORKSHOPS 532000 300471 300471 ALUMNAE/CAMPUS LIFE 900099 80720 80720 171121 171121 22847873 1161944 1161944 240810 317310 -76500 -76500 -76500 21569308 350 21099029 52671 470279 -52321 417958 417958 32684072 22847873 0 1503402 4899500 4899500 809110 309477 359683 139950 12218347 9774678 1832752 610917 159887 127910 23983 7994 1604504 1283603 240676 80225 928831 743064 139325 46442 75061 75061 105990 105990 315661 315661 1678481 1258861 251772 167848 487156 341010 73073 73073 484738 387790 72711 24237 1169979 994482 116998 58499 138196 117466 13820 6910 1075232 913947 107524 53761 2459863 2090884 245986 122993 408211 408211 FOOD SERVICE 1321331 1123131 132133 66067 REPAIRS/MAINTENANCE 581200 494020 58120 29060 STUDENT PROGRAMS 228344 194093 22834 11417 UPGRADES/RENOVATIONS 105084 89322 10508 5254 2547154 2057679 310596 178879 33801860 27200917 4917417 1683526 5651303 10146837 12334029 11477532 4542206 2808334 337667 558811 911240 739858 112196 81211 108605929 56167807 50086881 52438122 46344417 45772664 26630857 25376180 16306235 14328056 163257031 163727605 1967571 2366986 447952 451605 30734342 29643850 265789 322341 5194138 1494910 3398777 34910564 41377697 X 38986133 37879401 89360334 84470507 128346467 122349908 163257031 163727605 X -1117788 -759079 -4119692 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 0 1 X 78372082 3049775 307694 4200436 77529115 78739686 1187647 2765229 4320480 78372082 76725203 1092187 5087889 4165593 78739686 70303052 2304955 8125647 4008451 76725203 73914841 1671917 -896292 4387414 70303052 0.09170 0.90830 0.00000 0 0 1877496 1877496 83453461 40012110 43441351 23274972 16155697 7119275 52438122 HEDGE FUNDS 19908778 F LIMITED PARTNERSHIPS 5467402 F 25376180 CONTRIBUTIONS RECEIVABLE FROM CRT'S 9476255 PERPETUAL TRUST HELD BY THIRD PARTY 4594589 MISCELLANEOUS RECEIVABLES 82212 PROPERTY HELD FOR SALE 175000 14328056 POST-RETIREMENT BENEFITS 47628 OBLIGATIONS FROM SPLIT INTEREST AGREEMENTS 125350 REVOLVING PERKINS LOAN LIABILITY 845527 ASSET RETIREMENT OBLIGATION 213668 INTEREST RATE SWAP 2166604 3398777 X 25702654 -759079 -1635778 -2394857 28097511 313244 4273317 4586561 32684072 31699213 2483914 2483914 29215299 313244 4273317 4586561 33801860 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. 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, 2020 OR 2019. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 317,310. CHANGE IN VALUE OF REMAINDER TRUST AGREEMENTS -1,953,088. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 4,273,317. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 317,310. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 2,166,604. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 4,273,317. 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. THE COLLEGE 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. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES TRAVEL ABROAD PROGRAM 108450 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 11155110 0 0 0 0 0 0 11263560 0 11263560 1 0 1 1 1 0 PART I, LINE 3: AMOUNTS REPORTED IN SCHEDULE F, PART I ARE ON THE ACCRUAL BASIS. PART III ACCOUNTING METHOD: PARTS I AND IV THE COLLEGE HAS OWNERSHIP IN VARIOUS FOREIGN ENTITIES AS A RESULT OF ALTERNATIVE INVESTMENTS THAT ARE PART OF THE COLLEGE'S 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 COLLEGE 743 0 4273317 TUITION RATES FINANCIAL AID CARES EMERGENCY GRANTS 781 626183 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 COLLEGE'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 THE COLLEGE. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 KRISTA NEWKIRK JD PRESIDENT 274600 0 0 0 0 0 5300 0 28269 0 308169 0 0 0 KRISTA BOFILL VP INSTITUTIONAL ADVANCEMENT 160596 0 0 0 0 0 3200 0 0 0 163796 0 0 0 DR JEFFREY BARKER PROVOST 143650 0 0 0 0 0 2873 0 16173 0 162696 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 COLLEGE 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 5235000 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 31 2365003 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 -1,953,088. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP -2,166,604. 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