2018-07-09T14:45:11-05:00 2017-05-31 560574444 CHERRY BEKAERT LLP 1111 Metropolitan Ave Ste 1000 Charlotte NC 28204 990 2016-06-01 560532297 Brevard College Corporation BREV 8288848219 One Brevard College Drive Brevard NC 287123306 Melissa Graham CFO 8288848219 2018-07-02 1 Amanda Adams P00358837 7043771678 2016 2022-09-23 18:48:47Z David Joyce One Brevard College Drive Brevard NC 287123306 35642571 0 X WWW.BREVARD.EDU X 1934 NC To provide an experiential liberal arts education. 27 26 572 408 61828 -1435 2602112 5347218 23871810 24161355 1417916 890239 734451 596652 28626289 30995464 9781739 9791916 0 0 9681906 9689411 0 0 285299 7712496 7985791 27176141 27467118 1450148 3528346 59036795 64492480 18274672 18328923 40762123 46163557 X Brevard College is committed to an experiential liberal arts education that encourages personal growth and inspires artistic, intellectual, and social action. 0 0 19908876 9791916 18522730 Brevard College is a baccalaureate-awarding institution committed to a residential liberal arts education that encourages personal growth and inspires artistic, intellectual, and social action. Brevard is accredited by the Southern Association of Colleges and Schools- Commission on Colleges; the National Association of Schools of Music; and the Teacher Education Accrediting Council. During fiscal year 2017, instruction was provided to 705 students. 674 students were US citizens and 398 were NC residents. The student body consisted of students representing 31 states and 13 foreign countries. Brevard College has been named as one of the best value schools in North Carolina and was also listed by U.S. News and World Report as one of the best Regional Colleges in the South for 2017.During the fiscal year, Brevard College students received tuition assistance of over $9 million to help defray the costs of higher education. Assistance is provided through a number of programs including merit-based scholarships, athletic scholarships, fine arts scholarships, Foundation scholarships, half-tuition scholarships, state and federal aid, and the yellow ribbon program for veterans. 4107551 5576797 A Brevard College education extends far beyond the walls of a classroom. Of the College's 705 students, 540 took part in the residential education experience. All of the facilities on the Brevard College campus are just a short walk or bike away. This design allows students to focus on education, growth, and fun without the hassle of rushing from place to place. The relaxed atmosphere of comfortable living and dining spaces are complemented with state-of-the-art education facilities including a modern library, and a world-class concert hall. 24016427 1 1 0 0 0 0 0 1 1 1 1 0 0 0 1 0 0 1 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 1 58 0 1 572 1 1 1 0 0 0 0 1 1 0 0 0 0 X 27 26 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NC X David Joyce 8288848264 One Brevard College Drive Brevard NC 28712 Barbara Hulsey Chair 1.00 X X 0 0 0 W Heathley Weldon Vice Chair 1.00 X X 0 0 0 J Phillip Jerome Secretary 1.00 X X 0 0 0 Timothy Bailey Director 1.00 X 0 0 0 Betsy Barefoot Director 1.00 X 0 0 0 John Boggs Director 1.00 X 0 0 0 Harley Dickson Jr Director 1.00 X 0 0 0 Richard Gardner Director 1.00 X 0 0 0 Jimmy Harris Director 1.00 X 0 0 0 Reginald Heinitsh Jr Director 1.00 X 0 0 0 Ray Henley Director 1.00 X 0 0 0 James Holmes III Director 1.00 X 0 0 0 Peter Johnson Director 1.00 X 0 0 0 A Edwin Jones Director 1.00 X 0 0 0 W Bradley Lakeson Jr Director 1.00 X 0 0 0 Kathi Levine Director 1.00 X 0 0 0 Linda Martinson Director 1.00 X 0 0 0 Barbara Nesbitt Director 1.00 X 0 0 0 Jack Parker Director 1.00 X 0 0 0 Alfred Platt Jr Director 1.00 X 0 0 0 David Shi Director 1.00 X 0 0 0 Ray Simmons Director 1.00 X 0 0 0 Connell Stafford Director 1.00 X 0 0 0 William Stanback Director 1.00 X 0 0 0 Jerry Stone Director 1.00 X 0 0 0 Elizabeth Taylor Director 1.00 X 0 0 0 Dona Vaughn Director 1.00 X 0 0 0 David Joyce President 40.00 X 226765 0 17394 Deborah Hall VP Business & Finance 40.00 X 101397 0 9458 Chad Holt VP Admissions & Financial Aid 40.00 X 112466 0 8614 440628 0 35466 3 0 1 0 Platt Management Group Inc 33 West Main Street Brevard NC 28712 Architectural Services 158683 Brill Company Inc 715 South James Street Ludington MI 49431 Construction 151546 New Reach Media Inc 16607 Blanco Road Ste 302 SAN ANTONIO TX 78232 Printing and Mailing Services 143001 Western Asbestos Inc 660 Old River Road Marion NC 287529449 Remediation Services 134227 Cherry Bekaert LLP 1111 Metropolitan Avenue Ste 1000 Charlotte NC 28204 Accounting Services 131986 7 24605 167190 5155423 2628649 5347218 Tuition and Fees 900099 18522730 18522730 Auxiliary Services 900099 5365207 5303379 61828 Other Program Fees 900099 273418 273418 24161355 473621 473621 1030 1030 585028 0 585028 585028 585028 5032573 4615955 416618 416618 416618 41746 24605 31152 10594 10594 30995464 24099527 61828 1486891 9791916 9791916 355013 355013 7652545 6079279 1355433 217833 990380 797131 165893 27356 691473 553909 120736 16828 27271 27271 127201 127201 84024 84024 332283 228816 103144 323 7124 3656 3468 771925 507313 249082 15530 125472 125472 1596280 1536002 60278 354309 330081 18300 5928 639831 614494 25337 1611263 1606751 4512 173464 173464 Food 728608 711476 17132 Student Activities 402709 402709 Equipment 351120 333154 17966 652907 346276 305130 1501 27467118 24016427 3165392 285299 2000 2200 2962944 4274015 3459335 460835 1047573 1170670 253050 255893 247724 233624 60661822 30466620 27621481 30195202 22421925 25326703 1636641 272413 240073 748350 696624 59036795 64492480 2665534 1663593 80408 80546 8732574 8043784 24417 44606 4233674 6380000 2538065 2116394 18274672 18328923 X 13761543 17050045 2334158 3412069 24666422 25701443 40762123 46163557 59036795 64492480 X 3528346 1775242 97846 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 67500 X X 0 0 1 X 22532687 1405379 2582370 1184430 25336006 24230180 288917 -839696 1146714 22532687 23518890 912455 859402 1060567 24230180 21683970 451492 2392675 1009247 23518890 18606527 482278 3601912 959247 47500 21683970 0.00020 0.91700 0.08280 0 0 889372 889372 50255960 22249326 28006634 8275533 7337024 938509 1240957 880270 360687 30195202 Annuities Payable 355627 Capital Lease Payable 801820 Asset Retirement Obligation 662948 Refundable Federal Government Advances 295999 2116394 Part III, Line 4: Two of the key majors at the college are art and music. The art collections are used in classes and are also part of the academic culture. Part IV, Line 2b: Amounts Held for Others are amounts that are being held for campus organizations through agency transactions. Part V, Line 4: The endowment funds are used to support the institution in perpetuity for scholarships, lectureships and various other operations and buildings on campus. 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's non-discrimination policy is stated in all major publications and the Transylvania Times. Schedule E, Part I, Line 6 The College received student financial aid grants from the U.S. Department of Education and the NC State Education Assistance Authority. Golf Tournament 30121 14450 15671 1000 1578 1638 Gala 36230 10155 26075 7364 19283 289 66351 24605 41746 1000 8942 19283 1927 31152 10594 1 Student Aid 742 9791916 Tuition Rates Tuition Assistance Part I, Line 2: Financial aid is available to students who can show financial need, academic achievement, leadership/service, athletics ability, and/or talent. Academic and leadership awards are determined through the Admissions area, athletics awards are determined by the respective coach, talent/departmental awards are determined through those academic areas, and the Financial Aid Office coordinates all awards with federal, state and institutional need-based aid. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 David Joyce President 216465 0 2500 0 7800 0 0 0 17394 0 244159 0 0 0 Part I, Line 1a The President was provided a membership at a local country club to be used for fundraising activities and other college business. Use of the membership is substantiated. Lastly, 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. A NC Capital Facilities Finance Agency 561592154 65818peu9 2007-04-02 13550000 Refinance old issue - fix rates 0 0 0 A 5320000 13542665 392665 13150000 2007 1 0 1 1 A 0 0 0 0 0 0 0 0 1 A 1 Schedule K, Part III Private Business Use This section is not applicable since the bonds qualify for the special rules for refunding of pre-2003 issues. Platt Management Group Inc Al Platt is a principal of Platt Management Group and also on the Board. 158683 Platt Management Group performed services for the College during the year. All services were at fair market value and arms length. 0 X 9 $1/item X 11 232497 Avg. Trading Value X 1 1636641 Appraisal X 1 715000 Appraisal X 1 2000 FMV X EQUIPMENT 10 35088 FMV X Auction Item 20 7155 FMV X Other Supplies 3 259 FMV 0 1 0 Form 990, Part VI, Section B, line 11b The Audit Committee of the board reviewed Form 990 prior to its filing with the IRS. After the Audit Committee finalized its review and officially accepted the Form 990, a copy of the public disclosure copy was made available to all Board members. Board members were provided an opportunity to comment on the Form prior to its filing with the IRS. Form 990, Part VI, Section B, line 12c The members of the Board of Trustees and officers are required to sign a copy of the conflict of interest policy on an annual basis. In the event a trustee has a potential conflict during the year, that trustee would recuse himself/herself from any discussion or vote. Form 990, Part VI, Section B, line 15 The process adopted by the President's Compensation Committee of the Board of Trustees for its annual determination of the compensation of the President is as follows: By the end of the Winter Board of Trustees' meeting, the Board will advise the President whether his or her contract will be renewed. By April 1st, the President will submit a self-assessment to the Compensation Committee responding to each objective. By May 1st, the Compensation Committee will review the report, communicate its feedback to the President, and issue a report and presidential salary and benefits recommendation to the Executive Committee. The Compensation Committee will use at least two sources of comparable data to determine the appropriate salary and benefits. Those sources are generally the annual compensation reports of the AGB (Association of Governing Board) and the NCICU (North Carolina Independent Colleges and Universities). However, similar sources may be used as alternatives from time to time. Documentation of the comparable data used will be part of the permanent file substantiating compensation. The Executive Committee will make a final decision about the President's salary before the Spring Board of Trustees meeting for final approval by the Board during the Spring meeting. With regards to senior staff, market data from the North Carolina Independent Colleges and Universities on administrative salaries will be reviewed by the president. The president will advise the board who will approve compensation for the senior staff. Additionally, the college recently participated in a wage study through AGB and that data is available to confirm wages of the president and other key employees. Form 990, Part VI, Section C, line 19 The organization's governing documents, financial statements, and conflict of interest policy are available to the public upon request. Form 990, Part XI, line 9: Loan Cancellation and Loss Provisions -6,184. Present Value Adjustments to Annuities Payable 72,021. Change in Value of Assets Held by Others 32,009. Brevard College Real Estate LLC One Brevard College Drive Brevard NC 28712 560532297 Real Estate Holding Company NC 2351641 2351641 Brevard College Valley Auto Sales Inc One Brevard College Drive Brevard NC 28712 560711072 Holding Company NC BREVARD COLLEGE REAL ESTATE LLC C 2301641 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0