2013-11-15T01:43:49-00:00 2013-06-30 The Wesley Peachtree Group CPAs 1475 Klondike Road Suite 100 Conyers GA 30094 990 2012-07-01 560532296 Bennett College BENN 3365172100 900 E Washington Street Greensboro NC 27401 LeRoy Summers Jr 3365172100 2013-11-15 true Dane Alexander 4048740555 2013-11-15 2012 2015-11-30 17:44:51Z LeRoy Summers Jr 900 E Washington Street Greensboro NC 27401 20806597 false X www.bennett.edu X NC To offer women an education conducive to excellence in scholarly pursuits, preparation for leadership roles in the workplace, society, and the world and lifelong learning in a technologically advanced, complex global society. 22 21 452 45 0 6888852 6500171 14706503 14243758 12781 10855 14564 51813 21622700 20806597 1923882 1801233 0 980290 972899 0 352239 20143290 19685217 23047462 22459349 -1424762 -1652752 56552698 52912399 35177119 34478716 21375579 18433683 To offer women an education conducive to excellence in scholarly pursuits, preparation for leadership roles in the workplace, society, and the world and lifelong learning in a technologically advanced, complex global society. false false 15153688 1801233 11182174 To sustain a learning community in which students can prepare academically, socially, and spiritually for leadership in a complex, diverse and rapidly changing world. 2420617 3061584 Auxiliary Enterprise supports the Colleges mission of providing quality educational opportunities. These services include, but are not limited to food services, campus housing, postal services, parking, vending, campus stores and athletics. 17574305 true true false false false false true false true true false false false true true true false true false false false false false false false false false true true true false false false false false false false false false false false false false false false false false false false true 991 0 452 true false false false false false false false false false false false false false X 22 21 false false false false false false false true true false false true true true true true true true true false NC X Leroy Summers Jr 3365172115 900 E Washington Street Greensboro NC 27401 Mr Charles Barrentine 001.00 X X 0 0 0 Mrs Deborah W Foster 001.00 X X 0 0 0 Mr Rick Anicetti 001.00 X X 0 0 0 Mrs Michelle Gethers Clark 001.00 X X 0 0 0 Mrs Sally S Cone 001.00 X 0 0 0 Mrs Joyce Martin Dixon 001.00 X 0 0 0 Bishop Larry M Goodpaster 001.00 X 0 0 0 Mrs Cynthia Hardy 001.00 X 0 0 0 Ms Andrea Harris 001.00 X 0 0 0 Mrs Carolyn Johnson 001.00 X 0 0 0 Ms Susie Johnson 001.00 X 0 0 0 Dr Trudie Kibbe-Reed 001.00 X 0 0 0 Mrs Deborah T Love 001.00 X 0 0 0 Dr Karla McLucas 001.00 X 0 0 0 Honorable Robbie Perkins III 001.00 X 0 0 0 Mrs Debra Plousha-Moore 001.00 X 0 0 0 Mrs Annie Tyson Jett PHR 001.00 X 0 0 0 Mr Luke Visconti 001.00 X 0 0 0 Dr Esther M Terry 040.00 X X 212328 0 0 Mr Eric Watson 001.00 X 0 0 0 Dr Maya Angelou 001.00 X 0 0 0 Rev Arnetta Beverly 001.00 X 0 0 0 Dr Christy Clayton 001.00 X 0 0 0 Ms Andrena Coleman 040.00 X 80000 0 0 Dr James Dixon 040.00 X 105000 0 0 Dr Millicent Rainey 040.00 X 123275 0 0 Ms Iris Ramey 040.00 X 90000 0 0 Mr LeRoy Summers 040.00 X 55000 0 0 Dr Stanley B Viltz 040.00 X 90769 0 0 Dr Julianne Malveaux X 216527 0 0 972899 4 true true false Cisco Systems Capital Coporation PO Box 742927 Los Angeles CA 90074 IT Services 195311 Sodexo Inc & Affiliates PO Box 536922 Atlanta GA 30353 Food Services 2745272 Jenzabar Inc PO Box 55018 Boston MA 02205 Software Provider 103087 3 2603781 3896390 6500171 Tuition and Fees 611600 11182174 11182174 Sales and Services of Auxiliary Enterprises 611710 3061584 3061584 14243758 10855 10855 Other Revenue 900099 51813 51813 51813 20806597 14306426 0 1801233 1801233 0 0 972899 972899 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Instruction 6255068 6255068 Public Service/ Academic Support 2711870 1913795 798075 Student Services 1758468 1758468 Institutional Support 6539194 3425124 2761831 352239 2420617 2420617 22459349 17574305 4532805 352239 2545073 2515056 337955 167626 167064 1396892 778152 7410 2801 919086 878704 60120443 27461827 34076422 32658616 13077096 13815639 4025138 2096367 56552698 52912399 1969340 1525678 30057965 29680775 2807354 2768311 342460 503952 35177119 34478716 X 8356077 4966863 2615244 2521141 10404258 10945679 21375579 18433683 56552698 52912399 X -1652752 959086 -2248230 X false true X true true true X 0.00000 0.00000 0.00000 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X false false 10404258 691421 431933 431933 150000 10945679 10092391 311867 332379 332379 10404258 9853700 238691 259833 259833 10092391 9869803 99485 39811 39811 115588 9853700 9672879 196924 9201 9201 9869803 1.00000 true false 4029104 2025832 43369460 13898807 29447223 133470 133470 12588409 11536318 1052091 32658616 Financial derivatives and other financial products Closely-held equity interests Federal income taxes Capital Lease Obligation 194360 Advances from federal government for student loans 309592 503952 X 21765683 959086 959086 20806597 20806597 22459349 22459349 22459349 V 4 The Endowment Funds shown are considered Permanently Restricted. The College does not intend to use the funds. X 2 The Colleges 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, 2013. Accordingly, no liability has been accrued. true true true true true true true false false false false false false false false true false true Part I 6a The College offers scholarships and student financial aid to assist with meeting the students financial obligations. The Financial Aid Office has the necessary policies and procedures to ensure that the college adheres to and complies with federal regulations regarding eligibility for student financial aid. Requirements for receiving scholarships depend on other factors such as grade point average, family income, or athletic talents. true Privately Funded Student Scholarships 426 1801233 III 1 All Scholarships are awarded based upon specific criteria maintained by the financial aid office. Requirements for receiving scholarships depends on other factors such as grade point average, family income, or economic need. The Colleges financial aid staff monitors guidelines to ensure compliance. The College also undergoes the required OMB Circular A-133 audit annually. X true true X X X true false false false false false false false false Dr Esther M Terry 150000 40330 190330 Dr Julianne Malveaux 50000 166527 216527 A Rice Capital Access Program LLC 270443193 2009-09-25 9695000 B Rice Capital Access Program LLC 270443193 2009-09-25 11305000 C Rice Capital Access Program LLC 270443193 2010-06-30 9500000 A 9693920 484695 237897 8971328 false false true true B 11192663 559632 277404 10355627 false false true true C 9500000 361883 194340 8943777 true false true true A false false false false true B false false false false true C false false false false true A false false true true false false false false true B false false true true true false false false true C false false true true false false false false true A true B true C true Form 990 Part VI Section B Line 11b The College presents the Form 990 to is financial/ audit committee for review when the form is ready. Depending on when the committee meets and the due date of the form, the Form 990 is either modified before it is filed or amendment is filed for any changes required by the finance/ audit committees review. Form 990 Part VI Section B Line 12c Trustees are required to disclose at the next convening Board of Trustees meeting any conflict of interest. Board members with a conflict of interest with a matter for vote must abstain from voting. The Colleges audit committee is responsible for ensuring adherence to the policy. Form 990 Part VI Section B Line 15a The Board of Trustees, based on predetermined areas of performance evaluate the work of the president of the College annually. The Boards Evaluation and Compensation Committee evaluates the performance. When additional compensation is deemed appropriate a review of salaries of Presidents at peer institutions is conducted to assist in arriving at a recommendation to the Executive Committee for approval. Form 990 Part VI Line 15b Compensation for top officers of the College are at the discretion of the President. This discretion is based on 1 previous salary history, 2 market data from the CUPA survey published by the Chronicle of Higher Education and 3 the bargaining process. Form 990 Part VI Section C Line 19 The College makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. To obtain copies, contact the business office and submit a request identifying the specific documents. Form 990 Part XI Line 5 The College presents its changes in net assets or fund balances separate from revenues and expenses. The balance is representative of gain and losses on investments during the fiscal year. Form 990 Part XI Line 8 The College commissioned an appraisal of its art collection by a certified independent appraiser. As a result, the carrying value of the collection has been reduced by 1,600,274. Form 990 Part XI Line 8 The College determined that the Federal Perkins liability account balance had not been properly recognized in the accompanying financial statements. The liability was adjusted by 647,956.