2015-02-16T15:07:11-06:00 2014-06-30 570381582 ELLIOTT DAVIS DECOSIMO LLCPLLC 901 E BYRD STREET SUITE 1000 RICHMOND VA 23219 990 2013-07-01 570314408 PRESBYTERIAN COLLEGE PRES 8648338205 PO BOX 975 CLINTON SC 29325 SUSAN MADDUX VP OF FINANCE & ADMINISTRATION 8648338205 2015-02-13 1 KIMBERLEY D VANHUSS P00214470 8046124380 2013 2016-02-25 16:41:14Z CLAUDE C LILLY 503 S BROAD STREET CLINTON SC 29325 200636730 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 PURPOSE IS SET FORTH WITH THE CONVICTION THAT EDUCATION IN 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. 34 33 897 250 472644 415969 4286162 3296238 57898832 57330103 3154158 21923039 334969 462943 65674121 83012323 24747914 24023032 0 0 20492496 20996795 0 49207 1119255 19491622 20820716 64732032 65889750 942089 17122573 164396684 169383839 41656686 41374024 122739998 128009815 X TO DEVELOP WITHIN THE FRAMEWORK OF CHRISTIAN FAITH THE MENTAL, PHYSICAL, MORAL, AND SPIRITUAL CAPACITIES OF STUDENTS IN PREPARATION FOR A LIFETIME OF PERSONAL AND VOCATIONAL FULFILLMENT AND RESPONSIBLE CONTRIBUTION TO OUR DEMOCRATIC SOCIETY AND WORLD COMMUNITY. GUIDING GOALS IN THE FULFILLMENT OF THIS MISSION: TO HELP STUDENTS 1)GAIN KNOWLEDGE OF HUMANITIES, NATURAL SCIENCES, AND SOCIAL SCIENCES WITH AN ABILITY TO SEE THESE STUDIES AS PART OF THE LARGER SEARCH FOR TRUTH 2)DEVELOP THE ABILITY TO THINK CLEARLY AND INDEPENDENTLY, MAKE CRITICAL JUDGEMENTS, AND COMMUNICATE EFFECTIVELY 3)GAIN AN AESTHETIC APPRECIATION OF THE ARTS AND LITERATURE 4)ACQUAINT WITH THE TEACHINGS AND VALUES OF THE CHRISTIAN FAITH 5)DEVELOP MORAL AND ETHICAL COMMITMENTS 6)ATTAIN A SENSE OF DIGNITY, SELF-WORTH, AND APPRECIATION OF OTHERS FROM DIVERSE BACKGROUNDS 7)GAIN AN APPRECIATION FOR TEAMWORK AND FITNESS THAT CONTRIBUTE TO LIFELONG HEALTH 8)FOSTER APPRECIATION AND CONCERN FOR THE ENVIRONMENT. 0 0 58916323 24023032 57213984 PRESBYTERIAN COLLEGE IS LOCATED ON A BEAUTIFUL 240 ACRE CAMPUS BETWEEN COLUMBIA AND GREENVILLE IN SOUTH CAROLINA. WITH SMALL CLASSES AND FACULTY WHO WANT THE BEST FOR THEIR STUDENTS, OUR SUPPORTIVE COMMUNITY PROVIDES MORE THAN AN EXCEPTIONAL LIBERAL ARTS UNDERGRADUATE EDUCATION TO 1067 FULL TIME EQUIVALENT STUDENTS INCLUDING ROOM AND BOARD FOR 1044 STUDENTS. PC SCHOOL OF PHARMACY ALSO PROVIDES A GRADUATE EDUCATION TO 310 FULL TIME EQUIVALENT STUDENTS. 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 PERSONALLY COMMITTED TO SUCCESS. AS A RESULT, 90 PERCENT OF OUR STUDENTS ARE IN GRADUATE PROGRAMS OR HAVE SECURED JOBS WITHIN SIX MONTHS OF GRADUATION. 58916323 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 1 1 0 1 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 1 0 0 0 1 173 0 1 897 1 1 1 0 0 0 0 1 1 0 0 0 0 X 34 33 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 DR KENNETH R COUCH BOARD MEMBER 1.00 X 0 0 0 MR ROBERT H HOPKINS BOARD MEMBER 1.00 X 0 0 0 MR WILLIAM D S KUHNE BOARD MEMBER 1.00 X 0 0 0 MR WILLIAM D LOEBLE JR BOARD MEMBER 1.00 X 0 0 0 MR LARRY W MASSEY BOARD MEMBER 1.00 X 0 0 0 DR ALLEN C MCSWEEN BOARD MEMBER 1.00 X 0 0 0 MR THOMAS R PARRISH BOARD MEMBER 1.00 X 0 0 0 MRS ELOISE F SHEPHERD BOARD MEMBER 1.00 X 0 0 0 MR RICHARD P SPENCER BOARD MEMBER 1.00 X 0 0 0 MR JOHN H STROUD BOARD MEMBER 1.00 X 0 0 0 DR E LANE ALDERMAN BOARD MEMBER 1.00 X 0 0 0 MRS ERNESTINE A GILLAM BOARD MEMBER 1.00 X 0 0 0 MR THOMAS H MILTON BOARD MEMBER 1.00 X 0 0 0 MR DAVID F PARKER II SECRETARY 1.00 X X 0 0 0 MR G PATRICK PHILLIPS CHAIRMAN 1.00 X X 0 0 0 MR ROBERT M HICKLIN BOARD MEMBER 1.00 X 0 0 0 MR LONNIE THOMPSON LAWSON BOARD MEMBER 1.00 X 0 0 0 MR WILLIAM M MATTHEWS BOARD MEMBER 1.00 X 0 0 0 MR JAMES L MEDFORD BOARD MEMBER 1.00 X 0 0 0 DR WELTON O'NEAL JR BOARD MEMBER 1.00 X 0 0 0 MR JEFFREY G REYNOLDS BOARD MEMBER 1.00 X 0 0 0 MR J MCNEILL SINGLETON VICE CHAIRMAN 1.00 X X 0 0 0 MR JAMES W SPRADLEY JR BOARD MEMBER 1.00 X 0 0 0 MR THOMAS L THOMASON BOARD MEMBER 1.00 X 0 0 0 MR RONALD F YOUNG BOARD MEMBER 1.00 X 0 0 0 MR JAMES D SAMPLES JR BOARD MEMBER 1.00 X 0 0 0 MR JAMES H POWELL BOARD MEMBER 1.00 X 0 0 0 MR WILLIAM B SHEARER BOARD MEMBER 1.00 X 0 0 0 MR IRWIN BELK BOARD MEMBER 1.00 X 0 0 0 MR GEORGE H CORNELSON BOARD MEMBER 1.00 X 0 0 0 MR WILLIAM W GASTON BOARD MEMBER 1.00 X 0 0 0 MR RICHARD H MONK BOARD MEMBER 1.00 X 0 0 0 MR WILLIAM AL SIBLEY BOARD MEMBER 1.00 X 0 0 0 MR JAMES W SPRADLEY BOARD MEMBER 1.00 X 0 0 0 LAVERNE CLIFTON FUHRMAN DIRECTOR OF THE SCHOOL OF PHARMACY 40.00 X 167792 0 24031 BRIAN PATRICK REESE DIRECTOR OF ATHLETICS 40.00 X 113661 0 53101 DEBORAH THOMPSON VICE PRESIDENT OF ENROLLMENT AND COMMUNICATIONS 40.00 X 142923 0 22401 CLAUDE C LILLY PRESIDENT 40.00 X 322313 0 64682 JOY SMITH VICE PRESIDENT OF STUDENT SERVICES 40.00 X 106248 0 2869 SUSAN MADDUX VICE PRESIDENT OF FINANCE AND ADMINISTRATION 40.00 X 113659 0 3851 BETH BRAXTON VP OF INSTITUTIONAL DEVELOPMENT 40.00 X 104423 0 12048 BARBARA FAYAD VP OF HUMAN RESOURCES 40.00 X 82368 0 12048 DON RABER PROVOST 40.00 X 102658 0 24771 JOHN JOHNSON PROFESSOR 40.00 X 146545 0 22425 CHARLES ASBILL PROFESSOR 40.00 X 136739 0 42821 GREGORY NIBERT COACH 40.00 X 126589 0 27690 LAURA FOX PROFESSOR 40.00 X 125478 0 20862 JULIE SEASE PROFESSOR 40.00 X 121707 0 17669 1913103 0 351269 27 0 1 0 SODEXO MANAGEMENT INC 401 S HOLLAND ST CLINTON SC 29325 FOOD SERVICE 2594569 THE BUDD GROUP PO BOX 890856 CHARLOTTE NC 282890856 FACILITIES 1056712 BREWINGTON CONTRACTORS 100 SUNFLOWER LANE CLINTON SC 29325 FACILITIES/CONSTRUCTION 712034 ACUMEN IT 3620 PELHAM ROAD GREENVILLE SC 29615 SOFTWARE SUPPORT AND INSTALLATION 338536 BSN SPORTS INC PO BOX 660176 DALLAS TX 75266 SPORTS EQUIPMENT 303473 14 525432 2770806 250100 3296238 TUITION, ROOM, AND BOARD 611310 55631813 55631813 ATHLETIC REVENUE 611310 1169900 1053781 116119 OTHER REVENUE 611310 408941 408941 SUMMER CONFERENCES 532000 119449 119449 57330103 1800177 3175 1797002 10294 10294 46605 0 46605 46605 46605 137747269 117624407 20122862 20122862 20122862 STANDARD CANDY K1 311000 343056 343056 OTHER INVESTMENT K1S 900099 62988 62988 406044 83012323 57213984 472644 22029457 24023032 24023032 1630316 1184517 445799 15612503 13713965 1276898 621640 818661 740079 49507 29075 1865132 1638105 133394 93633 1070183 948163 78799 43221 166230 126511 39719 69600 69600 49207 49207 323806 323806 3211029 2482217 720959 7853 79717 65258 14074 385 2161983 1731263 347255 83465 512226 426801 55490 29935 2715214 2300401 394419 20394 1734383 1439789 280257 14337 70984 55117 10458 5409 865710 733891 123672 8147 2590704 2220811 349405 20488 636377 508284 122918 5175 DINING HALL AND FOOD CH 2605041 2501142 80112 23787 REPAIRS AND MAINTENANCE 2107893 1677252 424462 6179 OTHER EXPENSES 929320 45545 826850 56925 BAD DEBT EXPENSE 40499 30374 10125 65889750 58916323 5854172 1119255 8767536 11025750 2721589 1468072 168683 297809 615689 816323 831366 160879 101513824 53126551 56476264 48387273 84271147 92835950 1996604 2221012 97473 97473 8450333 12073298 164396684 169383839 5469784 5912399 1099912 750927 34286000 33911000 800990 799698 41656686 41374024 X 23446516 21955428 13219023 18564242 86074459 87490145 122739998 128009815 164396684 169383839 X 17122573 -6455175 -3726388 -1671193 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 200 1 150 1 350 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 PRECEED 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. 3516777 X X 0 83445435 1082543 12916054 3236316 1872182 304725 92030809 75009975 4016979 9385825 3403372 1447832 116140 83445435 74965735 4047147 1224323 3419289 1724900 83041 75009975 65694233 3811664 13098422 5332248 2180953 125383 74965735 58859154 3231627 7783781 2489344 1462695 228240 65694283 0.01760 0.87750 0.10490 1 0 4354056 4354056 81305099 39828251 41476848 9409108 9310930 98178 6445561 3987370 2458191 48387273 TRUST FUND ASSETS 5562705 CONTRIBUTIONS RECEIVABLE FROM TRUSTS 2124238 OTHER ASSETS 869577 COLLECTIONS 3516778 12073298 ADVANCES FROM FEDERAL GOVERNMENT 799698 799698 X 50544111 -6457300 31415 -6425885 56969996 323806 25718521 26042327 83012323 41542912 0 41542912 323806 24023032 24346838 65889750 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 733 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 THAT 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 FINANCIAL STATEMENTS. ESSENTIALLY, THE COLLEGE WOULD RECORD A LIABILITY IF IT TOOK A POSITION ABOUT 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, 2014 AND 2013 AND ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. TAX YEARS ENDED JUNE 30, 2011 OR LATER REMAIN OPEN TO EXAMINATION BY TAXING AUTHORITY. PART XI, LINE 2D - OTHER ADJUSTMENTS: FOUNDATION INCOME 7,119. INCREASE IN CSV LIFE 24,296. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON THE FINANCIAL STATEMENTS 24,023,032. K-1 INCOME NOT INCLUDED ON FINANCIAL STATEMENTS 1,695,489. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON THE FINANCIAL STATEMENTS 24,023,032. 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. ENGLAND 0 2 EDUCATIONAL PROGRAM STUDENT AND FACULTY TRAVEL 67364 GUATEMALA 0 2 EDUCATIONAL PROGRAM STUDENT AND FACULTY TRAVEL 25968 ETHIOPIA 0 2 EDUCATIONAL PROGRAM STUDENT AND FACULTY TRAVEL 24535 CHILE 0 2 EDUCATIONAL PROGRAM STUDENT AND FACULTY TRAVEL 38500 INDIA 0 2 EDUCATIONAL PROGRAM STUDENT AND FACULTY TRAVEL 41468 0 10 0 0 0 10 197835 0 197835 0 0 0 0 0 0 X X X X X X X 1 ALEXANDER HAAS MARTIN 3520 PIEDMONT ROAD NE SUITE 300 ATLANTA GA 303051512 FUNDRAISING CONSULTANT 0 0 49207 -49207 49207 -49207 SC NC FL 1 SCHOLARSHIPS TO ATTEND PRESBYTERIAN COLLEGE 1077 24023032 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 COLLEGE 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. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 LAVERNE CLIFTON FUHRMAN DIRECTOR OF THE SCHOOL OF PHARMACY 167792 0 0 0 0 0 12750 0 11281 0 191823 0 0 0 BRIAN PATRICK REESE DIRECTOR OF ATHLETICS 103661 0 0 0 10000 0 7393 0 45708 0 166762 0 0 0 DEBORAH THOMPSON VICE PRESIDENT OF ENROLLMENT AND COM 139660 0 0 0 3263 0 7830 0 14571 0 165324 0 0 0 CLAUDE C LILLY PRESIDENT 305313 0 0 0 17000 0 19550 0 45132 0 386995 0 0 0 JOHN JOHNSON PROFESSOR 146545 0 0 0 0 0 11470 0 10955 0 168970 0 0 0 CHARLES ASBILL PROFESSOR 136739 0 0 0 0 0 11110 0 31711 0 179560 0 0 0 GREGORY NIBERT COACH 126589 0 0 0 0 0 10182 0 17508 0 154279 0 0 0 PART I, LINE 1A DR. CLAUDE LILLY, 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. A EDUCATION FACILITIES AUTHORITY FOR PRIV 576000286 CUSIPNONE 2009-08-05 23500000 REFUND 27,000,000 BOND 0 0 0 B EDUCATION FACILITIES AUTHORITY FOR PRIV 576000286 CUSIPNONE 2010-07-30 3550000 REFUND 27,000,000 BOND 0 0 0 C EDUCATION FACILITIES AUTHORITY FOR PRIV 576000286 CUSIPNONE 2011-12-21 7871000 PHARMACY BOND AND REFINANCE BANK LOAN 0 0 0 A 1010000 23500000 23500000 2009 1 0 1 1 B 3550000 50000 3500000 2009 1 0 1 1 C 7871000 114580 7756420 2010 1 0 1 1 A 0 0 1 0 1 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 1 0 1 0 0.00000 0.00000 0.00000 0 0 0 C 0 0 1 0 1 0 0.00000 0.00000 0.00000 0 0 0 A 1 1 1 SUNTRUST 5.000000000000 0 0 0 0 0 B 0 0 0 0 1 0 0 0 0 C 0 0 0 0 1 0 0 0 0 BB&T INSURANCE THOMAS R. PARRISH, TRUSTEE, IS REGIONAL PRESIDENT OF BB&T INSURANCE 443440 THE COLLEGE PURCHASED INSURANCE FROM BB&T INSURANCE. ALL TRANSACTIONS WERE AT ARM'S LENGTH AND FAIR MARKET VALUE. 0 X 22 250100 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 THE INSTITUTIONS FORM 990 IS PREPARED BY THE COLLEGE'S CONTROLLER, THEN REVIEWED BY THE VICE PRESIDENT FOR FINANCE AND ADMINISTRATION AND THE PRESIDENT. THE RETURN IS ALSO REVIEWED BY THE SAME INDEPENDENT ACCOUNTING FIRM THAT CONDUCTED THE ANNUAL AUDIT FOR THE COLLEGE. 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 AUDT 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. AFTER REVIEWED BY EXTERNAL TAX ADVISORS, 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 COMMITTE 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 EVP 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 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, CUPA DATA FOR A COMPARISON GROUP OF SCHOOLS FOR SIMILIAR POSITIONS IS ALSO CONSIDERED. OFFICER SALARIES AND COMPARATIVE CUPA DATA ARE PRESENTED TO BOTH THE EXECUTIVE AND HUMAN RESOURCE COMMMITTEES OF THE BOARD. ALL OF THESE DECISIONS ARE DOCUMENTED IN AGENDAS AND RECORDS OF THE APPROPRIATE COMMMITTEES AND IN THE PERSONNEL FILES. FORM 990, PART VI, SECTION C, LINE 18 . 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: CASH SURRENDER VALUE ADJUSTMENT 24,296. K-1 ACTIVITY NOT ON THE FINANCIALS -1,695,489. 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 11B, 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 11B, II N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 SCHEDULE R, PART V, LINE 2 THE COLLEGE'S EMPLOYEES DO A NOMINAL AMOUNT OF WORK FOR THE PC FOUNDATION AND THE PC RE FOUNDATION AT NO COST TO EITHER ENTITY.