2020-04-29T10:55:49-05:00 2019-06-30 570381582 ELLIOTT DAVIS LLCPLLC 1901 MAIN STREET SUITE 900 COLUMBIA SC 29201 990 2018-07-01 570314408 PRESBYTERIAN COLLEGE PRES 8648338205 PO BOX 975 CLINTON SC 29325 ROBERT STATON PRESIDENT 8648338205 2020-04-28 1 DENISE P HILL P00046615 8032560002 2020-04-28 104.129.205.7 2020-04-28 06:57:13 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 99AFABE94547B544723E04EEA8F4500EFBDE7EE5 2018 2020-09-23 17:36:50Z ROBERT STATON 503 S BROAD STREET CLINTON SC 29325 92227246 0 X WWW.PRESBY.EDU X 1880 SC PRESBYTERIAN COLLEGE EXISTS TO PROVIDE AN EDUCATION IN THE ARTS AND SCIENCES WITHIN A DISTINCTLY CHRISTIAN CONTEXT. THE LIBERAL ARTS TRADITION CAN BE ACHIEVED SUCCESSFULLY ONLY THROUGH AN ACADEMIC PROGRAM WHICH IS CHARACTERIZED BY EXCELLENCE AND THROUGH ACTIVITIES WHICH CONTRIBUTE TO GROWTH OF ABLE MINDS, SOUND BODIES, AND STRONG MORAL CHARACTER. THE COLLEGE CALLS FOR THE PURSUIT OF LEARNING TO TAKE PLACE IN AN ENVIRONMENT OF GENUINE INTELLECTUAL FREEDOM. PRESBYTERIAN COLLEGE SCHOOL OF PHARMACY PROVIDES PHARMACY EDUCATION WITH A LIBERAL ARTS COLLEGE APPROACH, INTEGRATING CLASSROOM LEARNING WITH PRACTICAL EXPERIENCE WHILE EMPHASIZING COMMUNITY, VALUING EACH STUDENT, AND FOCUSING ON PATIENT CARE. 26 26 836 250 93023 86247 5190220 5431406 57274853 59169993 10279437 4208098 532826 137818 73277336 68947315 23827910 31748961 0 0 22862970 24712371 0 0 1254364 22451173 19700769 69142053 76162101 4135283 -7214786 189170118 148301180 45571269 11483996 143598849 136817184 X PRESBYTERIAN COLLEGE IS A PRIVATE, RESIDENTIAL, FOUR-YEAR LIBERAL ARTS COLLEGE LOCATED ON A BEAUTIFUL 240-ACRE CAMPUS IN CLINTON, SOUTH CAROLINA. WITH SMALL CLASSES AND FACULTY WHO WANT THE BEST FOR THEIR STUDENTS, OUR SUPPORTIVE COMMUNITY PROVIDES MORE THAN AN EXCEPTIONAL LIBERAL ARTS EDUCATION. PC EMPOWERS STUDENTS TO BE SERVANT LEADERS IN THEIR COMMUNITIES THROUGH CHALLENGING ACADEMICS AND A CULTURE OF HONOR AND ETHICS. SINCE 1880 PC HAS BEEN INSPIRING STUDENTS TO "BE INSPIRED FOR LIFE". BE INSPIRED FOR LIFE IS ABOUT THE TRANSFORMATIVE PROCESS OF FINDING YOUR PASSION, AND LEARNING HOW TO LEARN AND GROW THROUGH EXPERIENCES AND RELATIONSHIPS. OUR COMMITMENT TO A STRONG LIBERAL ARTS CURRICULUM DEVELOPS CRITICAL THINKING SKILLS ACROSS DISCIPLINES, AND MAKES PC GRADUATES WELL-ROUNDED, THOUGHTFUL AND INTELLIGENT CONTRIBUTORS IN SOCIETY. OUR RIGOROUS ACADEMICS PROMOTE EXCELLENCE AND SUCCESS, WITH 90 PERCENT OF OUR STUDENTS IN GRADUATE PROGRAMS OR HAVE SECURED JOBS WITHIN SIX MONTHS OF GRAD 0 0 68282658 31748961 59154028 PRESBYTERIAN COLLEGE IS A PRIVATE, RESIDENTIAL, FOUR-YEAR LIBERAL ARTS COLLEGE. WITH SMALL CLASSES AND FACULTY WHO WANT THE BEST FOR THEIR STUDENTS, OUR SUPPORTIVE COMMUNITY PROVIDES MORE THAN AN EXCEPTIONAL LIBERAL ARTS EDUCATION. PC EMPOWERS STUDENTS TO BE SERVANT LEADERS IN THEIR COMMUNITIES THROUGH CHALLENGING ACADEMICS AND A CULTURE OF HONOR AND ETHICS. THE MISSION OF THE SCHOOL OF PHARMACY AT PRESBYTERIAN COLLEGE IS TO IMPROVE THE HEALTH OF SOUTH CAROLINIANS AND SOCIETY IN GENERAL BY DEVELOPING PHARMACY STUDENTS WITH AN UNWAVERING ETHICAL FOUNDATION WHO WILL POSITIVELY IMPACT THE DELIVERY OF QUALITY, EQUITABLE PHARMACY CARE; WHO WILL DEDICATE THEIR LIVES TO COMMUNITY SERVICE; AND WHO WILL PROVIDE ENLIGHTENED LEADERSHIP IN ADDRESSING THE HEALTH CARE NEEDS OF A DIVERSE PATIENT POPULATION. 68282658 1 1 0 1 0 0 0 1 0 1 1 1 0 1 1 1 0 1 1 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 1 1 0 1 1 0 0 0 0 1 0 0 0 1 213 0 836 1 1 1 1 CJ EI 0 0 0 0 0 0 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X DAWN DURHAM 8648338477 ON CAMPUS CLINTON SC 29325 MR BRAD BRYANT BOARD MEMBER 1.00 X 0 0 0 MR JOHN CLARK BOARD MEMBER 1.00 X 0 0 0 MR WILLIE COOPER BOARD MEMBER 1.00 X 0 0 0 MR KEN COUCH BOARD MEMBER 1.00 X 0 0 0 MR HARTWELL DEW BOARD MEMBER 1.00 X 0 0 0 MR TOM FREE BOARD MEMBER 1.00 X 0 0 0 MR GREGG FRIERSON BOARD MEMBER 1.00 X 0 0 0 MR JOHN INMAN BOARD MEMBER 1.00 X 0 0 0 MR JOHN JESELNIK BOARD MEMBER 1.00 X 0 0 0 MR WILL KUHNE BOARD MEMBER 1.00 X 0 0 0 MR EG LASSITER BOARD MEMBER 1.00 X 0 0 0 MR TOMMY LAWSON BOARD MEMBER 1.00 X 0 0 0 MR CODY MITCHELL BOARD MEMBER 1.00 X 0 0 0 MS ANN TAYLOR MORGAN BOARD MEMBER 1.00 X 0 0 0 MS JILL MOYLAN BOARD MEMBER 1.00 X 0 0 0 MR DANNY MURPHY BOARD MEMBER 1.00 X 0 0 0 MR WES NALLEY BOARD MEMBER 1.00 X 0 0 0 MR JERRI PARRIS PERKINS BOARD MEMBER 1.00 X 0 0 0 MR JIM PFEIFFER BOARD MEMBER 1.00 X 0 0 0 MR TED PITTS BOARD MEMBER 1.00 X 0 0 0 MR HOLBROOK RAYNAL BOARD MEMBER 1.00 X 0 0 0 MR STAN REID BOARD MEMBER 1.00 X 0 0 0 MS RUTH ROPER BOARD MEMBER 1.00 X 0 0 0 MS LOUISE SLATER BOARD MEMBER 1.00 X 0 0 0 MR STEVE SMITH BOARD MEMBER 1.00 X 0 0 0 MR BRAD SPEARMAN BOARD MEMBER 1.00 X 0 0 0 ROBERT STATON PRESIDENT 40.00 X 273508 0 0 DON RABER PROVOST 40.00 X 135114 0 20858 JACQUELINE BERKSHIRE VP OF ADVANCEMENT 40.00 X 147965 0 14043 BARBARA FAYAD VP OF HUMAN RESOURCES 40.00 X 99706 0 13710 SUZANNE PETRUSCH VP OF ENROLLMENT AND FINANCIAL AID 40.00 X 160651 0 13931 DANNY STERLING DIRECTOR OF ATHLETICS 40.00 X 131721 0 11311 JOY SMITH VP OF CAMPUS LIFE 40.00 X 117429 0 8886 LAVERNE FUHRMAN DEAN OF PHARMACY SCHOOL 40.00 X 202501 0 20826 JACK FINCHAM PROFESSOR 40.00 X 149349 0 20538 LAURA FOX PROFESSOR 40.00 X 133763 0 18588 JULIE SEASE PROFESSOR 40.00 X 140819 0 14948 TIFFANEY THREATT PROFESSOR 40.00 X 109621 0 14662 SUSAN MADDUX VP OF FINANCE 40.00 X 158574 0 17183 1960721 0 189484 48 1 1 0 ARAMARK PO BOX 978839 DALLAS TX 753978839 DINING SERVICES 2621357 THE BUDD GROUP PO BOX 890856 CHARLOTTE NC 282890856 FACILITIES 1269463 RUFFALO NOEL LEVITZ PO BOX 718 DES MOINES IA 503030718 ADVISORY SERVICES 397133 WALDROP INC PO BOX 369 REIDVILLE SC 293750369 FACILITIES 239002 EBSCO SUBSCRIPTION SERVICE PO BOX 204661 DALLAS TX 75320 SUBSCRIPTION SERVICES 206369 11 471311 4960095 302200 5431406 TUITION, ROOM, AND BOARD 611310 56275983 56275983 ATHLETIC REVENUE 611310 1543184 1476150 67034 OTHER REVENUE 611310 1195564 1162047 33517 SUMMER CONFERENCES 532000 155262 155262 59169993 2765356 2765356 7071 7071 54285 0 54285 54285 54285 24661908 23219166 1442742 1442742 596 1442146 135808 60765 75043 75043 NATIONAL COLLEGIATE TRUSTS K-1 900099 9543 9543 STANDARD CANDY K1 900099 -8124 -8124 1419 68947315 59154028 93023 4268858 6412171 6412171 25336790 25336790 1457167 1072864 240103 144200 18758716 16468167 1646936 643613 1103317 975048 93124 35145 1971118 1641844 213721 115553 1422053 1235556 130718 55779 154476 127885 26591 88445 66334 22111 373927 373927 2895902 2183902 621022 90978 239014 184973 54041 2141807 1707976 359505 74326 551737 493171 53978 4588 3045760 2320509 721379 3872 2011225 1662970 331816 16439 65892 55435 8007 2450 465280 372911 91609 760 2010610 1523600 487010 778879 622606 150995 5278 DINING HALL AND FOOD CH 2622767 1962167 623318 37282 REPAIRS AND MAINTENANCE 1402650 1149283 252329 1038 OTHER EXPENSES 852398 706496 122839 23063 76162101 68282658 6625079 1254364 3255675 4193744 16889761 14393912 2019322 2107121 336491 440242 1055502 868846 36235 26598 210886 229792 65436934 36190402 66911870 29246532 58307146 52439010 29422747 34121681 10724483 10233702 189170118 148301180 5475024 3598177 1897258 1655360 29768654 4636756 3573172 3793577 2657287 45571269 11483996 X 38706870 42767860 12557057 831580 92334922 93217744 143598849 136817184 189170118 148301180 X -7214786 459040 -25919 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 1 0 0 1 0 0 0 0 PART II-B, LINE 1: PRESBYTERIAN COLLEGE, AS ONE OF TWENTY MEMBERS OF THE SOUTH CAROLINA INDEPENDENT COLLEGES AND UNIVERSITIES (SCICU) AND IN CONJUNCTION WITH THE SOUTH CAROLINA HIGHER EDUCATION TUITION GRANTS COMMISSION, PARTICIPATES IN THE TUITION GRANTS AWARENESS PROGRAM SPONSORED BY THESE TWO ORGANIZATIONS. THE COLLEGE STUDENTS TAKE PART IN AN ANNUAL WRITING CAMPAIGN, SHARING WITH THEIR RESPECTIVE STATE LEGISLATORS THE BENEFITS THAT TUITION GRANTS HAVE AFFORDED THE STUDENTS. THESE LETTERS PRECEDE THE SOUTH CAROLINA INDEPENDENT COLLEGE AND UNIVERSITY DAY PROCLAIMED EACH SPRING BY THE GOVERNOR WHEN SEVERAL PC STUDENTS VISIT THE STATE HOUSE AS GUESTS ALONG WITH OTHER STUDENTS FROM SCICU MEMBER INSTITUTIONS. A RECEPTION SPONSORED BY SCICU AFFORDS THE STUDENTS AN OPPORTUNITY TO MEET THEIR LEGISLATORS, AND THEY ARE ALSO RECOGNIZED AS SPECIAL GUESTS IN BOTH THE HOUSE AND SENATE CHAMBERS. 3763878 X X 0 91855297 1059385 4402606 5430755 353110 91533423 90184620 734380 7164112 5885000 342815 91855297 83401469 1445122 11703866 3854270 2108792 402795 90184600 90068862 764293 -861373 4016781 2146386 407146 83401469 92030809 2121108 1852572 3533803 1956496 445328 90068862 0.10020 0.89980 0.00000 1 0 4730847 4730847 40925230 36190402 4734828 14758306 14758306 5022551 5022551 29246532 34121681 C 34121681 TRUST FUND ASSETS 5111146 CONTRIBUTIONS RECEIVABLE FROM TRUSTS 886517 OTHER ASSETS 472161 COLLECTIONS 3763878 10233702 ADVANCES FROM FEDERAL GOVERNMENT 781314 CAPITAL LEASE OBLIGATIONS 795270 OTHER LONG TERM LIABILITIES 949190 OTHER CURRENT LIABILITIES 131513 2657287 X 43730484 459040 60765 519805 43210679 373927 25362709 25736636 68947315 50512149 60765 60765 50451384 373927 25336790 25710717 76162101 PART III, LINE 4: THE COLLEGE'S COLLECTIONS ARE MADE UP OF ARTIFACTS OF HISTORICAL SIGNIFICANCE AND ART OBJECTS. THESE COLLECTIONS ARE HELD FOR PUBLIC EXHIBITIONS, EDUCATION, AND RESEARCH. PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF APPROXIMATELY 750 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING SCHOLARSHIPS AND SUPPORT OF ACADEMIC AND SPORTS PROGRAMS. PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). DUE TO THIS DETERMINATION, THE COLLEGE IS ALSO EXEMPT FROM STATE INCOME TAXES. THE COLLEGE IS SUBJECT TO FEDERAL AND STATE INCOME TAX ON ITS NET UNRELATED BUSINESS INCOME. THE COLLEGE ADOPTED THE PROVISIONS OF FASB GUIDANCE ON INCOME TAXES RELATED TO THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THIS GUIDANCE CLARIFIES ACCOUNTING FOR UNCERTAINTY IN A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN BY AN ENTITY AND HENCE IN THE INCOME TAXES RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS. ESSENTIALLY, THE COLLEGE WOULD RECORD A LIABILITY IF IT TOOK A POSITION REGARDING TAXES DUE THAT WAS LIKELY TO BE DISPUTED AND HAD A REASONABLE CHANCE OF BEING OVERRULED BY A TAXING AUTHORITY. MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF JUNE 30, 2019 OR 2018 AND ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. THE COLLEGE IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD NETTED WITH REVENUE 60,765. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON THE FINANCIAL STATEMENTS 25,336,790. K-1 INCOME NOT INCLUDED ON FINANCIAL STATEMENTS 25,919. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD NETTED WITH REVENUE 60,765. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON THE FINANCIAL STATEMENTS 25,336,790. 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 PUBLISHES IN THE OFFICIAL RECRUITING LITERATURE THE FOLLOWING: PRESBYTERIAN COLLEGE DOES NOT DISCRIMINATE AGAINST ANY APPLICANT OR STUDENT ON THE BASIS OF RACE, SEX, RELIGION, NATIONAL ORIGIN OR HANDICAP. SCHEDULE E, PART I, LINE 6 PRESBYTERIAN COLLEGE STUDENTS MAY RECEIVE TITLE IV AID, FEDERAL LOANS, AND/OR SC TUITION GRANT ASSISTANCE. SPAIN 0 2 EDUCATIONAL PROGRAM STUDENT AND FACULTY TRAVEL 164865 ITALY 0 2 EDUCATIONAL PROGRAM STUDENT AND FACULTY TRAVEL 63046 ENGLAND 0 2 EDUCATIONAL PROGRAM STUDENT AND FACULTY TRAVEL 53784 GALAPAGOS 0 2 EDUCATIONAL PROGRAM STUDENT AND FACULTY TRAVEL 61275 0 8 0 0 0 8 342970 0 342970 0 0 0 0 0 0 PART I, LINE 3: THE ORGANIZATION USES ITS STANDARD ACCOUNTING METHOD TO RECORD THESE EXPENDITURES. 1 PRESBYTERIAN COLLEGE REAL ESTATE FOUNDATION PO BOX 975 CLINTON SC 29325 571021641 501(C)(3) 0 6412171 BOOK FIXED ASSETS NET OF DEPRECATION AND ASSUMED LIABILITIES CONSTRUCTION AND RENOVATION PLAN 1 0 SCHOLARSHIPS TO ATTEND PRESBYTERIAN COLLEGE 967 25336790 PART I, LINE 2: PRESBYTERIAN COLLEGE AWARDS SCHOLARSHIPS, GRANTS, AND LOANS TO ITS STUDENTS. THE PROCEDURES FOR MONITORING THE USE OF THE FUNDS ARE PART OF THE FINANCIAL AID GUIDELINES AND THEY ARE UTILIZED TO DETERMINE THE QUALIFICATIONS OF THE RECIPIENT. THE GUIDELINES ARE PUBLISHED IN THE PRESBYTERIAN COLLEGE ACADEMIC CATALOG AND COMPLY WITH THE ELIGIBILITY REQUIREMENTS PUBLISHED BY THE US DEPARTMENT OF EDUCATION AND THE SC DEPARTMENT OF REVENUE. COMPLIANCE AUDITS ARE ALSO COMPLETED ANNUALLY BY AN INDEPENDENT ACCOUNTING FIRM. THE GRANTS AND SCHOLARSHIPS AWARDED ARE APPLIED DIRECTLY TO THE STUDENTS' ACCOUNTS. PART II, LINE 1 ON SEPTEMBER 20, 2018, USDA ISSUED A GUIDE 1A TO SYNOVUS BANK AUTHORIZING INTERIM FINANCING FOR THESE AMOUNTS. AS A RESULT, SYNOVUS BANK ISSUED THE $60,420,000 ECONOMIC REVENUE BOND SERIES 2018 TO PCREF. AS A RESULT, PCREF ASSUMED RESPONSIBILITY FOR AND PAID OFF THE SERIES 2015 REVENUE BONDS AND ACQUIRED CAPITAL ASSETS WITH A NET BOOK VALUE OF APPROXIMATELY $37,300,000 FROM THE COLLEGE. THE DIFFERENCE IN ACQUIRED ASSETS AND ASSUMED OBLIGATIONS WAS RECORDED AS A CONTRIBUTION TO PCREF FROM THE COLLEGE OF APPROXIMATELY $6,400,000. AT JUNE 30, 2019, THERE WAS $43,688,101 OUTSTANDING ON THE ECONOMIC REVENUE BONDS SERIES 2018. THE USDA HAS GUARANTEED THE INTERIM FINANCING WITH SYNOVUS BANK. FUNDING BY THE USDA WILL BEGIN AT THE END OF PHASE 1 OF THE CONSTRUCTION PROJECT, ANTICIPATED FOR THE YEAR ENDING JUNE 30, 2021, AND WILL REFINANCE THE INTERIM FINANCING WITH SYNOVUS BANK WITH THE EXCEPTION OF THE $5,000,000 COMMUNITY FACILITIES DIRECT LOAN, WHICH WILL REMAIN WITH SYNOVUS BANK. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 ROBERT STATON PRESIDENT 273508 0 0 0 0 0 0 0 0 0 273508 0 0 0 DON RABER PROVOST 135114 0 0 0 0 0 10819 0 10039 0 155972 0 0 0 JACQUELINE BERKSHIRE VP OF ADVANCEMENT 147965 0 0 0 0 0 6413 0 7630 0 162008 0 0 0 SUZANNE PETRUSCH VP OF ENROLLMENT AND FINANCIAL AID 160651 0 0 0 0 0 8770 0 5161 0 174582 0 0 0 LAVERNE FUHRMAN DEAN OF PHARMACY SCHOOL 202501 0 0 0 0 0 15665 0 5161 0 223327 0 0 0 JACK FINCHAM PROFESSOR 149349 0 0 0 0 0 12021 0 8517 0 169887 0 0 0 LAURA FOX PROFESSOR 133763 0 0 0 0 0 10071 0 8517 0 152351 0 0 0 JULIE SEASE PROFESSOR 140819 0 0 0 0 0 9787 0 5161 0 155767 0 0 0 SUSAN MADDUX VP OF FINANCE 158574 0 0 0 0 0 11737 0 5446 0 175757 0 0 0 PART I, LINE 1A ROBERT STATON, PRESIDENT OF PREBYTERIAN COLLEGE, IS PROVIDED A HOUSE AND CAR. THE COLLEGE PROVIDES HOUSING TO THE PRESIDENT FOR THE CONVENIENCE OF THE EMPLOYER SO THAT THE PRESIDENT CAN PERFORM ESSENTIAL COLLEGE BUSINESS AND ACTIVITIES AT THE HOME. CLUB MEMBERSHIP IS USED TO ENTERTAIN DONORS AND OTHERS FOR COLLEGE BUSINESS. 26820 TUTION REMISSION FOR FAMILY OF OFFICERS AND HIGHEST COMPENSATION ASSISTANCE RECEIVED FOLLOWS THE GUIDELINES OTHERS ARE REQUIRED TO ADHERE TO SUSAN MADDOX SUSAN MADDOX IS THE FORMER VP OF FINANCE 20000 SCHOLARSHIP FOR CHILD SCHOLARSHIP WAS AWARDED FOLLOWING GUIDELINES THAT OTHERS ADHERE TO. BB&T INSURANCE THOMAS R. PARRISH, TRUSTEE, IS REGIONAL PRESIDENT OF BB&T INSURANCE 440090 THE COLLEGE PURCHASED INSURANCE FROM BB&T INSURANCE. ALL TRANSACTIONS WERE AT ARM'S LENGTH AND FAIR MARKET VALUE. 0 X 21 302200 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE INSTITUTIONS FORM 990 IS REVIEWED BY THE COLLEGE'S CONTROLLER, THE VICE PRESIDENT FOR FINANCE AND ADMINISTRATION, AND THE PRESIDENT. THE FORM 990, INCLUDING ALL SCHEDULES, IS PROVIDED TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES AND IS AN AGENDA ITEM FOR A MEETING OF THE AUDIT COMMITTEE, WHERE THOSE TRUSTEES ASK ANY QUESTIONS THEY HAVE OF THE COLLEGE STAFF. THE TRUSTEES OF THE AUDIT COMMITTEE ARE INDEPENDENT AND EXPERIENCED IN FINANCIAL MATTERS. THE INSTITUTION PROVIDES THE FINAL FORM 990 AND ALL SCHEDULES EXCEPT SCHEDULE B TO ALL VOTING MEMBERS OF THE GOVERNING BOARD BEFORE THE FORM IS FILED. (A REDACTED VERSION OF SCHEDULE B, EXCLUDING DONOR NAMES AND ADDRESSES IS PROVIDED TO ALL TRUSTEES TO PROTECT DONOR PRIVACY. AUDIT COMMITTEE MEMBERS, HOWEVER, WOULD HAVE ALREADY REVIEWED THE UN-REDACTED VERSION OF SCHEDULE B, AS NOTED ABOVE). FORM 990, PART VI, SECTION B, LINE 12C BOARD OF TRUSTEES, COLLEGE OFFICERS, AND OTHER EMPLOYEES COMPLETE A CONFLICT OF INTEREST FORM ON AN ANNUAL BASIS. FORMS ARE REVIEWED BY THE COLLEGE PRESIDENT AND THE VICE PRESIDENT OF FINANCE AND ADMINISTRATION. BOARD MEMBERS WITH CONFLICTS RECUSE THEMSELVES FROM RELATED DECISIONS. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES AFTER REVIEWING END OF THE YEAR EVALUATIONS. THE PROCESS IS PART OF A TWO DAY MEETING IN AUGUST. SALARY IS COMPARED WITH CUPA DATA FOR A COMPARISON SET OF SCHOOLS. OFFICER SALARIES ARE DETERMINED BY THE COLLEGE PRESIDENT BASED ON MID-YEAR AND END OF YEAR EVALUATIONS OF SATISFACTORY ACHIEVEMENT OF GOALS AND OBJECTIVES, AND CUPA DATA FOR A COMPARISON GROUP OF SCHOOLS FOR SIMILIAR POSITIONS IS ALSO CONSIDERED. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE AVAILBLE FOR INSPECTION. FORM 990, PART XI, LINE 9: STANDARD CANDY COMPANY K-1 -25,919. PRESBYTERIAN COLLEGE FOUNDATION PO BOX 975 CLINTON SC 29325 571021640 HOLD AND MANAGE PLANNED GIFTS FOR THE BENEFIT OF THE COLLEGE SC 501(C)(3) LINE 12B, II N/A 0 PRESBYTERIAN REAL ESTATE FOUNDATION PO BOX 975 CLINTON SC 29325 571021641 HOLD AND MANAGE REAL ESTATE GIFTS FOR THE BENEFIT OF THE COLLEGE SC 501(C)(3) LINE 12B, II N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 PRESBYTERIAN REAL ESTATE FOUNDATION B 6412171 FMV