2020-07-09T12:23:19-05:00 2019-06-30 540504608 BROWN EDWARDS & COMPANY LLP 1715 PRATT DRIVE SUITE 2700 BLACKSBURG VA 24060 990 2018-07-01 560529933 BARTON COLLEGE BART 2523996331 PO BOX 5000 WILSON NC 278937000 DAVID A BROWNING VP FOR ADMIN AND FINANCE 2523996328 2020-07-07 1 MARK WOOLWINE P00647446 5404433606 2020-07-07 206.248.228.130 2020-07-07 15:00:34 ED P 1626BA036CF3DDA5592C13B1B33E888B46C24478 E0C682DE79454114A87B04247600BBE0EA78E015 2018 2020-09-23 17:36:50Z DOUGLAS N SEARCY PO BOX 5000 WILSON NC 278937000 40105710 0 X WWW.BARTON.EDU X 1902 NC FOUNDED IN 1902, BARTON COLLEGE IS A FOUR-YEAR, PRIVATE, LIBERAL ARTS COLLEGE LOCATED IN WILSON, N.C. THE BARTON EXPERIENCE FOCUSES ON ACADEMIC EXCELLENCE WITHIN A WIDE RANGE OF PROFESSIONAL AND LIBERAL ARTS PROGRAMS LEADING TO BACCALAUREATE AND MASTER'S DEGREES. BARTON CELEBRATES BOLD THINKING AMONG FACULTY AND STAFF AS THE COLLEGE NURTURES BOLD LEADERSHIP DEVELOPMENT AMONG STUDENTS. BARTON OFFERS PURPOSEFUL INTERNSHIPS AND PRACTICUMS IN ACADEMIC DISCIPLINES, ENGAGING CO-CURRICULAR COHORTS, MEANINGFUL INTERNATIONAL TRAVEL AND STUDY, RESEARCH AND PRESENTATION THROUGH THE DAY OF SCHOLARSHIP, OPPORTUNITIES TO GIVE BACK THROUGH COMMUNITY SERVICE, AN IMPRESSIVE ARRAY OF CULTURAL EVENTS, AND DIVERSE ATHLETIC COMPETITION AMONG MORE THAN 20 COLLEGIATE TEAMS. 27 27 693 0 0 0 6229293 4090603 29892156 33831514 5289761 1297419 607880 811184 42019090 40030720 11891535 14265312 0 0 13703653 14844452 0 0 609042 13613820 14268618 39209008 43378382 2810082 -3347662 89097515 89091400 37088621 40451181 52008894 48640219 X FOUNDED IN 1902, BARTON COLLEGE IS A FOUR-YEAR, PRIVATE, LIBERAL ARTS COLLEGE LOCATED IN WILSON, N.C. THE BARTON EXPERIENCE FOCUSES ON ACADEMIC EXCELLENCE WITHIN A WIDE RANGE OF PROFESSIONAL AND LIBERAL ARTS PROGRAMS LEADING TO BACCALAUREATE AND MASTER'S DEGREES. BARTON CELEBRATES BOLD THINKING AMONG FACULTY AND STAFF AS THE COLLEGE NURTURES BOLD LEADERSHIP DEVELOPMENT AMONG STUDENTS. BARTON OFFERS PURPOSEFUL INTERNSHIPS AND PRACTICUMS IN ACADEMIC DISCIPLINES, ENGAGING CO-CURRICULAR COHORTS, MEANINGFUL INTERNATIONAL TRAVEL AND STUDY, RESEARCH AND PRESENTATION THROUGH THE DAY OF SCHOLARSHIP, OPPORTUNITIES TO GIVE BACK THROUGH COMMUNITY SERVICE, AN IMPRESSIVE ARRAY OF CULTURAL EVENTS, AND DIVERSE ATHLETIC COMPETITION AMONG MORE THAN 20 COLLEGIATE TEAMS. 0 0 10281605 29384563 INSTRUCTION: ACCREDITED ACADEMIC PROGRAMS WITH 39 MAJORS AND 33 MINORS FOR UNDERGRADUATES, 7 PROFESSIONAL PROGRAMS, AND 4 GRADUATE DEGREE PROGRAMS. AWARDED 263 DEGREES IN 2018-19. SERVING APPROXIMATELY 1,000 UNDERGRADUATES. 3048256 5183145 AUXILIARY SERVICES: ROOM, BOARD, AND BOOKSTORE. 14265312 14265312 INSTITUTIONAL AID AND SCHOLARSHIPS FROM ENDOWMENT, RESTRICTED SCHOLARSHIPS, AND INSTITUTIONAL DISCOUNT. 8777423 STUDENT SERVICES; ENROLLMENT SERVICES, FINANCIAL AID, POST OFFICE, CO-CURRICULAR ACTIVITIES IN STUDENT LIFE, AND COLLEGIATE ATHLETICS (NCAA DIVISION II WITH 8 MEN'S VARSITY TEAMS AND 8 WOMEN'S VARSITY TEAMS). 8777423 36372596 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 0 1 0 0 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 0 0 0 0 1 128 0 1 693 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 27 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DAVID A BROWNING 2523996328 311 HARPER HALL WILSON NC 278937000 MR WILLIAM DENNIS ADAMS III TRUSTEE 2.00 X 0 0 0 MR FRANK BATTEN TRUSTEE 2.00 X 0 0 0 DR SUSAN K BLUE TRUSTEE 2.00 X 0 0 0 MR JOHN C BRANTLEY III TRUSTEE 2.00 X 0 0 0 DR ROBERT B CAYTON TRUSTEE 2.00 X 0 0 0 MR JAMES EARL COBB JR TRUSTEE 2.00 X 0 0 0 MRS LINDA DAWSON CONNOR TRUSTEE 2.00 X 0 0 0 MR SCOTT C CRUIKSHANK TRUSTEE 2.00 X 0 0 0 MR BARRY F DILLEHAY TRUSTEE 2.00 X 0 0 0 MR DONALD I EVANS TRUSTEE 2.00 X 0 0 0 DR HARLOW Z HEAD TRUSTEE 2.00 X 0 0 0 MR GARETH CARL HOSFORD TRUSTEE 2.00 X 0 0 0 MR KENNETH DURWOOD KENNEDY III TRUSTEE 2.00 X 0 0 0 MR JOHN FLOYD LEE BOARD CHAIR 2.00 X X 0 0 0 MRS TRACY O MITCHELL TRUSTEE 2.00 X 0 0 0 MR JAMES SELBY PRIDGEN TRUSTEE 2.00 X 0 0 0 MR THOMAS E QUINN TRUSTEE 2.00 X 0 0 0 MR ERIC SELLERS TRUSTEE 2.00 X 0 0 0 MR L DAIL TURNER TRUSTEE 2.00 X 0 0 0 MR E JEROME VICK TRUSTEE 2.00 X 0 0 0 MR D STUART WALSTON JR TRUSTEE 2.00 X 0 0 0 DR PHILIP H WARREN TRUSTEE 2.00 X 0 0 0 DR GARNETT B WHITEHURST BOARD VICE CHAIR 2.00 X X 0 0 0 MRS SHEILA BARKER WIGGINS TRUSTEE 2.00 X 0 0 0 DR GREGG A DEMAR TRUSTEE 2.00 X 0 0 0 MR G CHARLES FINKLEA JR TRUSTEE 2.00 X 0 0 0 MRS ANNE M ODDEN TRUSTEE 2.00 X 0 0 0 MR DAVID BROWNING VP ADMINISTRATION AND FINA 50.00 X 154345 0 25128 DR DOUGLAS SEARCY PRESIDENT 50.00 X 277203 0 68902 DR GARY DAYNES PROVOST & VP FOR ACADEMIC 50.00 X 180636 0 18606 JAN MERIWETHER VP FOR INSTITUTIONAL ADVAN 50.00 X 114977 0 12049 DENNIS MATTHEWS VP FOR ENROLLMENT AND MARKETING 50.00 X 151575 0 9250 ANNA CHRISTINE COLEY VP FOR STUDENT ENGAGEMENT 50.00 X 141005 0 14792 JOHN BETHUNE PROFESSOR 37.50 X 102253 0 21546 1121994 0 170273 7 0 1 0 ARAMARK SERVICES 100 FRIDAY CENTER DR CHAPEL HILL NC 27599 FOOD & FACILITIES SERVICES 4968708 CT WILSON CONSTRUCTION CO INC 2885 GOLDEN DR DURHAM NC 27707 CONSTRUCTION 3314715 JM THOMPSON COMPANY 1002 E CHATHAM ST CARY NC 27511 CONSTRUCTION 2522983 CITY OF WILSON 208 NASH ST NE WILSON NC 27893 SECURITY SERVICES 1724736 MCMILLANPAZDANSMITH LLC 328 W CARSON BLVD 300 CHARLOTTE NC 28203 ARCHITECTS 437638 16 385529 3705074 2665889 4090603 TUITION AND FEES 611310 28648369 28648369 HOUSING, FOOD AND OTHER SERVICES 611710 5183145 5183145 33831514 781315 781315 591094 0 74990 591094 -74990 516104 -74990 591094 OTHER INCOME 611710 811184 811184 811184 40030720 34567708 0 1372409 14265312 14265312 12022104 9910050 1762063 349991 2822348 2036141 708450 77757 206437 206437 3758869 3135700 621961 1208 136396 8708 126119 1569 1222874 902109 319343 1422 962924 875200 79664 8060 146933 135794 9689 1450 790407 531154 259253 1976794 1328405 648389 424870 143449 281421 OTHER EXPENSES 1285729 1053861 226399 5469 PROGRAM AND OFFICE SUPP 1175329 931288 127018 117023 OPERATIONS & MAINTENANC 776493 370754 405381 358 BAD DEBTS 401244 401244 1003319 744671 213913 44735 43378382 36372596 6396744 609042 1637875 3130229 321961 462386 4443053 2219673 869686 678020 432720 290683 46074 10527 233778 21494 75907925 31040871 36617449 44867054 29106087 29641809 15388832 7769525 89097515 89091400 3025604 4012962 893892 893985 25712752 25703933 6825000 9019250 631373 821051 37088621 40451181 X 15417951 14174877 8957322 6231346 27633621 28233996 52008894 48640219 89097515 89091400 X -3347662 -13681 -7332 X X 0 1 X 1 1 1 X 4101379 12216704 2860391 6229293 4090603 29498370 4101379 12216704 2860391 6229293 4090603 29498370 7972819 21525551 1006955 730350 893545 1008810 781315 4420975 238855 322662 371208 607880 811184 2351789 36271134 0.59350 0.57620 X SCHEDULE A, PART II THE COLLEGE IS CLASSIFIED AS A PUBLIC CHARITY, A SCHOOL, IN ACCORDANCE WITH SECTION 170(B)(1)(A)(II) OF THE INTERNAL REVENUE CODE. HOWEVER, THE COLLEGE HAS ELECTED TO FOLLOW THE "SPECIAL RULE" FOR SCHEDULE B WHICH PROVIDES THAT 501(C)(3) ORGANIZATIONS THAT SATISFY THE 33 1/3% SUPPORT TEST OF SECTIONS 509(A)(1)/170(B)(1)(A)(VI) NEED ONLY LIST THE GREATER OF (1) $5,000 OR (2) 2% OF TOTAL CONTRIBUTIONS, GIFTS, GRANTS AND SIMILAR AMOUNTS RECEIVED. THEREFORE, THE COLLEGE HAS CHECKED SCHEDULE A, PART 1, BOX 7 AND COMPLETED THE SUPPORT SCHEDULE IN PART II TO SUBSTANTIATE THAT IT MEETS THE PUBLIC SUPPORT TEST. THE COLLEGE CONTINUES TO QUALIFY AS A SCHOOL. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 29106454 745215 1152291 1352798 29651162 28178934 605734 1603179 1281393 29106454 25859405 842020 2663411 1185902 28178934 28964495 671102 -436976 3339216 25859405 28720632 765643 813098 1334878 28964495 0.01600 0.89720 0.08680 1 0 4077046 4077046 48702532 31040871 17661661 3269515 3269515 19858832 19858832 44867054 ALTERNATIVE INVESTMENTS 377869 F DEBT SECURITIES 10436039 F EQUITY SECURITIES 16827901 F HEDGE EQUITIES 2000000 F 29641809 LAND HELD FOR RESALE 1327699 BOND PROCEEDS HELD IN TRUST 5723559 PERPETUAL TRUSTS HELD BY OTHERS 718267 7769525 ASSET RETIREMENT OBLIGATION 1001740 STUDENT LOAN ADVANCES 253341 DEPOSITS AND STUDENT CREDIT BALANCES 108162 CAPITAL LEASE PAYABLE 192696 UNAMORTIZED BOND ISSUE COSTS -734888 821051 X 25537958 -13681 -14272644 -14286325 39824283 206437 206437 40030720 28906633 0 28906633 206437 14265312 14471749 43378382 PART V, LINE 4: THE COLLEGE'S ENDOWMENT CONSISTS OF APPROXIMATELY 400 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE COLLEGE QUALIFIES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS, THEREFORE, NOT GENERALLY SUBJECT TO INCOME TAXES UNDER PRESENT TAX LAWS EXCEPT ON INCOME UNRELATED TO ITS EXEMPT FUNCTION, IF ANY. IN ACCORDANCE WITH GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, THE COLLEGE'S POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION TAKEN THAT IS BENEFICIAL TO THE COLLEGE, INCLUDING ANY RELATED INTEREST AND PENALTIES, WHEN IT IS MORE LIKELY THAN NOT THE POSITION TAKEN BY MANAGEMENT WITH RESPECT TO A TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF JUNE 30, 2019 AND 2018 AND, ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. THE COLLEGE IS NO LONGER SUBJECT TO TAX EXAMINATIONS FOR THE YEARS PRIOR TO 2015. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS SHOWN NET OF TUITION AND FEES ON FINANCIALS -14,265,312. CHANGE IN PERPETUAL TRUSTS HELD BY OTHERS -7,332. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS SHOWN NET OF TUITION AND FEES ON FINANCIALS 14,265,312. 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 PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY IN ALL ADVERTISEMENTS FOR OPEN POSITIONS, THE COLLEGE CATALOG (WHICH IS ALSO ON THE WEBSITE), AND ALL FINANCIAL AID PUBLICATIONS. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FEDERAL AND STATE AWARDS FROM THE STATE OF NORTH CAROLINA AND THE US DEPARTMENT OF EDUCATION FOR THE PURPOSE OF STUDENT GRANTS, LOANS AND SCHOLARSHIPS. 1 SCHOLARSHIPS AND GRANTS 1107 14265312 PART I, LINE 2: SCHOLARSHIPS AND FINANCIAL AID FUNDS ARE AWARDED BY THE FINANCIAL AID DEPARTMENT AND APPLIED DIRECTLY TO STUDENT ACCOUNTS. STUDENT ACCOUNT BALANCES ARE THEN MONITORED BY THE BUSINESS OFFICE AND STUDENT ELIGIBILITY AND ACADEMIA ARE MONITORED BY THE REGISTRAR. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 MR DAVID BROWNING VP ADMINISTRATION AND FINA 154345 0 0 0 0 0 8288 0 16840 0 179473 0 0 0 DR DOUGLAS SEARCY PRESIDENT 277203 0 0 0 0 0 13729 0 55173 0 346105 0 0 0 DR GARY DAYNES PROVOST & VP FOR ACADEMIC 180636 0 0 0 0 0 7818 0 10788 0 199242 0 0 0 DENNIS MATTHEWS VP FOR ENROLLMENT AND MARKETING 151575 0 0 0 0 0 7650 0 1600 0 160825 0 0 0 ANNA CHRISTINE COLEY VP FOR STUDENT ENGAGEMENT 141005 0 0 0 0 0 4083 0 10709 0 155797 0 0 0 PART I, LINE 1A 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. ADDITIONALLY, THE PRESIDENT WAS PROVIDED A MEMBERSHIP AT A LOCAL COUNTRY CLUB TO BE USED FOR BUSINESS PURPOSES AND FUNDRAISING ACTIVITIES. USE OF THE MEMBERSHIP IS WELL DOCUMENTED. A PUBLIC FINANCE AUTHORITY 273866124 74443DDS7 2018-06-20 25372752 REFINANCE EXISTING BONDS AND CAMPUS RENOVATIONS 0 0 0 A 25372752 1656736 1263158 9400000 506187 6823112 5723559 1 0 0 1 A 0 0 0 0 0 0 0 A 0 0 0 1 0 0 0 0 0 A 0 X 3 1041026 FMV X 3 1624863 FMV 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE WILL REVIEW AND APPROVE THE 990 PRIOR TO FILING. IN ADDITION, THE 990 WILL BE MADE AVAILABLE TO ALL BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE EXECUTIVE COMMITTEE OF THE BOARD REVIEWS CONFLICT OF INTEREST STATEMENTS AS THEY ARE SUBMITTED BY THE TRUSTEES. THE EXECUTIVE COMMITTEE MEETS SEVERAL TIMES DURING THE YEAR. AS STATED IN THE BYLAWS, ALL TRUSTEES SHALL DISCLOSE TO THE BOARD ANY POSSIBLE CONFLICT OF INTEREST AT THE EARLIEST PRACTICABLE TIME. NO TRUSTEE SHALL VOTE ON ANY MATTER UNDER CONSIDERATION AT A BOARD OR COMMITTEE MEETING IN WHICH THE TRUSTEE HAS A CONFLICT OF INTEREST. THE MINUTES OF SAID MEETING SHALL REFLECT THAT A DISCLOSURE WAS MADE THAT THE TRUSTEE HAVING A CONFLICT OF INTEREST ABSTAINED FROM VOTING. ANY TRUSTEE WHO IS UNCERTAIN WHETHER HE/SHE HAS A CONFLICT OF INTEREST IN ANY MATTER MAY REQUEST THE EXECUTIVE COMMITTEE TO DETERMINE IF A CONFLICT OF INTEREST EXISTS, AND THE EXECUTIVE COMMITTEE SHALL RESOLVE THE QUESTION BY AFFIRMATIVE VOTE OF A MAJORITY OF ITS MEMBERS. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING THE COMPENSATION FOR THE CEO (PRESIDENT) IS LED BY THE EXECUTIVE COMPENSATION COMMITTEE AND TRUSTEESHIP COMMITTEE OF THE BOARD. THESE COMMITTEES MEET WITH FACULTY, STAFF, STUDENTS AND ADMINISTRATORS TO EVALUATE THE PRESIDENT'S JOB PERFORMANCE. THEY ALSO REVIEW THE PRESIDENT'S ANNUAL REPORT TO ASSESS ACCOMPLISHMENTS. COMPENSATION SURVEYS FROM NATIONAL AND STATE INSTITUTIONS (COLLEGES AND UNIVERSITIES PERSONNEL ASSOCIATION AND NORTH CAROLINA INDEPENDENT COLLEGES AND UNIVERSITIES) ARE REVIEWED TO DETERMINE A REASONABLE COMPENSATION RANGE. THE PRESIDENT DETERMINES THE COMPENSATION FOR ALL OTHER KEY EMPLOYEES AND RECEIVES EVALUATIONS FROM THEIR DIRECT REPORTS. HE ALSO USES COMPENSATION INFORMATION FROM NATIONAL AND STATE SURVEYS TO DETERMINE APPROPRIATENESS OF COMPENSATION LEVEL. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGES GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND THE AUDITED FINANCIAL STATEMENTS ARE AVAILABLE BY REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN PERPETUAL TRUSTS HELD BY OTHERS -7,332. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.