2012-04-17T08:27:24-05:00 2011-05-31 MCGLADREY & PULLEN LLP 230 N ELM ST STE 1100 GREENSBORO NC 27401 990 2010-06-01 560547498 BELMONT ABBEY COLLEGE INC BELM 7044616814 100 BELMONT-MOUNT HOLLY ROAD BELMONT NC 28012 WILLIAM THIERFELDER 7044616814 2012-04-04 1 ADRIENNE MCKINNEY 3362724551 2010 2016-02-24 21:20:13Z WILLIAM THIERFELDER 100 BELMONT-MOUNT HOLLY ROAD BELMONT NC 28012 41078601 0 X WWW.BELMONTABBEYCOLLEGE.EDU X 1960 NC BELMONT ABBEY COLLEGE OFFERS BACCALAUREATE LEVEL EDUCATION IN HUMANITIES, NATURAL SCIENCES, SOCIAL SCIENCES, AND PROFESSIONAL STUDIES. 32 26 588 15 -25252 -25252 3227705 3759242 30882394 33404075 7078 449067 -19586 -25252 34097591 37587132 11664254 12970168 0 0 11863958 13127185 0 0 1188831 10436244 11501399 33964456 37598752 133135 -11620 19898401 20831687 10047797 9897074 9850604 10934613 X OUR MISSION IS TO EDUCATE STUDENTS IN THE LIBERAL ARTS AND SCIENCES SO THAT IN ALL THINGS GOD MAY BE GLORIFIED. IN THIS ENDEAVOR, WE ARE GUIDED BY THE CATHOLIC INTELLECTUAL TRADITION AND THE BENEDICTINE SPIRIT OF PRAYER AND LEARNING. EXEMPLIFYING BENEDICTINE HOSPITALITY, WE WELCOME A DIVERSE BODY OF STUDENTS AND PROVIDE THEM WITH AN EDUCATION THAT WILL ENABLE THEM TO LEAD LIVES OF INTEGRITY, TO SUCCEED PROFESSIONALLY, TO BECOME RESPONSIBLE CITIZENS, AND TO BE A BLESSING TO THEMSELVES AND TO OTHERS. 0 0 30461434 12970168 33404075 ACADEMIC - BELMONT ABBEY COLLEGE OFFERS 17 BACHELOR OF ARTS AND 6 BACHELOR OF SCIENCES PROGRAMS IN THE HUMANITIES, NATURAL SCIENCES AND PROFESSIONAL STUDIES. DURING THE 2010-2011 ACADEMIC YEAR THE COLLEGE ENROLLED 1,734 STUDENTS. 30461434 1 1 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 1 0 0 0 0 1 0 0 0 0 1 103 0 1 588 1 1 1 0 0 0 0 1 1 0 0 0 0 X 32 26 1 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 0 0 X WAYNE SCROGGINS 7044616712 100 BELMONT-MT HOLLY RD BELMONT NC 28012 WILLIAM K THIERFELDER 60.00 X X 249769 0 41975 RT REV PLACID D SOLARI 3.00 X 0 0 0 REV MSGR MAURICIO WEST 3.00 X 0 0 0 RICHARD HOEFLING 3.00 X X 0 0 0 KENNETH D BELL 1.00 X 0 0 0 RT REV OSCAR BURNETT 1.00 X 0 0 0 MARK A COLLAR 1.00 X 0 0 0 ROBERT A DESTRO 1.00 X 0 0 0 SHARON L FOLK 1.00 X 0 0 0 ROBERT W DINEEN 1.00 X 0 0 0 REV FRANCIS FORSTER 1.00 X 0 0 0 ROBERT M GALLAGHER 3.00 X 0 0 0 JOE LINDSLEY 1.00 X 0 0 0 PAUL L HERNDON 1.00 X 0 0 0 RAYMOND JONES 3.00 X 0 0 0 KEVIN T KENNELLY 3.00 X 0 0 0 REV JOSEPH W KOTERSKI SJ 1.00 X 0 0 0 BARBARA LAUGHLIN 3.00 X 0 0 0 HANS LENGERS 1.00 X 0 0 0 ROGER REGELBRUGGE 1.00 X 0 0 0 DR CHARLES J MEAKIN III 1.00 X 0 0 0 EDWARD C RUFF 1.00 X 0 0 0 ROBERT G MORGAN 1.00 X 0 0 0 CHARLES A POL 1.00 X 0 0 0 JERRY SCHMITT 3.00 X 0 0 0 MICHAEL SNYDER 3.00 X 0 0 0 DR KEVIN J SODEN 1.00 X 0 0 0 D HARDING STOWE 1.00 X 0 0 0 BR ANTHONY SWOFFORD OSB 1.00 X 0 0 0 PETER TONON 1.00 X 0 0 0 JOSEPH A TRONCO 3.00 X 0 0 0 HOWARD WHEELER JR 3.00 X 0 0 0 WAYNE J SCROGGINS 60.00 X 145865 0 22445 KENNETH DAVISON 50.00 X 130308 0 26294 ANNE DALY 50.00 X 158395 0 7925 LUCAS C LAMADRID 50.00 X 123439 0 22469 RITA LEWIS 40.00 X 43390 0 7193 MARCIA MAKL 40.00 X 102224 0 10404 953390 0 138705 6 0 1 0 CHARTWELLS DINING SERVICES PO BOX 91337 CHICAGO IL 60693 FOOD SERVICES 1550007 WFF MANAGEMENT SERVICES P O BOX 958204 ST LOUIS MO 63195 MAINTENANCE MANAGEMENT 885367 BARNES AND NOBLE 122 FIFTH STREET 2ND FLOOR NEW YORK NY 10011 COLLEGE BOOKSTORE 425338 IMAGEMARK BUSINESS SERVICES INC P O BOX 3386 HICKORY NC 28603 MARKETING AND PRINTING 401594 NORTH AMERICAN LAWN & LANDSCAPE 4200 PERFORMANCE ROAD CHARLOTTE NC 28214 LANDSCAPE SERVICES 204727 16 1568899 2190343 75419 3759242 TUITION AND FEES 611710 26267084 26267084 AUXILIARY SERVICES 611710 6680566 6680566 MISC. PROGRAM 611710 456425 456425 33404075 302439 302439 3530230 3383602 146628 146628 146628 82615 107867 -25252 -25252 37587132 33404075 -25252 449067 12970168 12970168 928884 292521 452144 184219 10192137 7332295 2380064 479778 82783 59555 19331 3897 1131311 813873 264183 53255 792070 569821 184964 37285 99306 99306 4331727 3057627 1125665 148435 223594 82310 141229 55 335875 280108 45801 9966 889762 792778 80968 16016 608029 501894 66815 39320 118968 82519 36349 100 514522 324999 189523 584745 522780 51732 10233 254321 51519 202802 STUDENT SERVICES 715792 571274 82532 61986 PRINTING 298825 115230 113637 69958 EQUIPMENT RENTAL 251350 101657 143461 6232 ENTERTAINMENT 221554 165970 31300 24284 RENTAL EXPENSES 212700 212700 1840329 1559836 236681 43812 37598752 30461434 5948487 1188831 30207 39149 4099408 3036885 107000 63447 755148 563875 22449 20612 36227 21690 320646 790439 12401066 5376750 7076316 7024316 5261168 6817742 239758 240841 1950074 2212691 19898401 20831687 1167213 1412243 44153 44153 2210000 1985000 1438000 1438000 3815140 3582570 1373291 1435108 10047797 9897074 X -449562 -213552 1640694 2159699 8659472 8988466 9850604 10934613 19898401 20831687 X -11620 1095629 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7666276 41854 900358 140584 103107 -879 8365676 7055374 81086 778816 89700 159300 7666276 8550457 59600 -1473667 81016 7055374 0.00000 0.82000 0.18000 0 0 8176258 2940151 5236107 545527 85381 460146 3325555 2351218 974337 353726 353726 7024316 CONTRIBUTIONS REC. FROM TRUST 26899 BENEFICIAL INTEREST IN TRUST 2158370 DEFERRED LOAN COST 27422 2212691 STUDENT DEPOSITS 865640 OTHER LIABILITIES 569468 1435108 37587132 37598752 -11620 799564 296065 1095629 1084009 27480634 799564 1720174 296065 2815803 24664831 12922301 12922301 37587132 26456625 1720174 107867 1828041 24628584 12970168 12970168 37598752 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: SCHOLARSHIPS AND SPECIFIC DEPARTMENTAL ACTIVITIES. PART XI, LN 8, OTHER ADJUSTMENTS: CHANGE IN SPLIT INTEREST AGREEMENT: 294,984 CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE: 1,081 PART XII, LN 2D, OTHER ADJUSTMENTS: CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE: 1,081 CHANGE IN SPLIT INTEREST AGREEMENTS: 294,984 PART XII, LN 4B: OTHER ADJUSTMENTS: GRANTS AND SCHOLARSHIPS: 12,970,168 DEBT FORGIVENESS: 60,000 UBIT EXPENSES: (107,867) PART XIII, LN 2D, OTHER ADJUSTMENTS: UBIT EXPENSES: 107,867 PART XIII, LN 4B, OTHER ADUSTMENTS: GRANTS AND SCHOLARSHIPS: 12,970,168 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 SEE SCHEDULE O. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 BELMONT ABBEY COLLEGE STUDENTS RECEIVE A VARIETY OF FEDERAL AND STATE GRANTS AND LOANS, INCLUDING PELL GRANTS, SUPPLEMENTAL EDUCATIONS OPPORTUNITY GRANTS, NC LEGISLATIVE TUITION GRANTS, AND NC STUDENT INCENTIVE GRANTS. EUROPE 0 0 PROGRAM SERVICES ACADEMIC ENRICHMENT 62000 0 0 0 0 0 0 62000 0 62000 0 0 0 0 0 0 OTHER INFORMATION SCHEDULE F, PART V SCHEDULE F, PART I, LINE 3, COLUMN F: ABOUT 12 STUDENTS DID A NON-CREDIT TWO WEEK PROGRAM IN ROME AT AN APPROXIMATE COST OF $42,000. ABOUT 3 ADDITIONAL STUDENTS DID STUDIES IN ENGLAND AND EUROPE AT AN APPROXIMATE COST OF $20,000. 1 SCHOLARSHIPS AND FELLOWSHIPS TO STUDENTS 959 12970168 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE ORG. UTILIZES VARIOUS DATABASES TO STORE & MONITOR ALL DATA PERTAINING TO THE AWARDING AND DISBURSEMENT OF GRANTS RECEIVED IN THE U.S. ALL GRANTS RECEIVED ARE PROPERLY APPLIED AS PAYMENTS TOWARD STUDENTS' ACCOUNTS APPROPRIATELY. ALL PARTICIPATING GRANTING ORGANIZATIONS HAVE COMPLIANCE REQUIREMENTS THAT ARE ADHERED TO & AUDITED ANNUALLY IN ACCORDANCE WITH THE OFFICE OF MGT. AND BUDGET (OMB) CIRCULAR A-133, AUDITS OF STATES, LOCAL GOVERNMENTS, AND NON-PROFIT ORGANIZATIONS. AS SUCH, THE ORG. PRESENTS SCHEDULES OF EXPENDITURES OF FEDERAL AND STATE AWARDS SUMMARIZING ALL EXPENDITURES USING THE ACCRUAL BASIS OF ACCOUNTING. X 1 1 X X X 0 0 0 0 0 0 0 0 0 WILLIAM K THIERFELDER 191719 0 0 0 58050 0 0 0 41975 0 291744 0 0 0 WAYNE J SCROGGINS 144342 0 0 0 1523 0 1473 0 20972 0 168310 0 0 0 KENNETH DAVISON 129703 0 0 0 605 0 1296 0 24998 0 156602 0 0 0 ANNE DALY 157286 0 0 0 1109 0 1585 0 6340 0 166320 0 0 0 STH BENEDICTINE X 1438000 1438000 0 1 1 SOCIETY X 0 1 1 1438000 DOUGLAS EHMANN FORMER BOARD MEMBER 206727 LANDSCAPING 0 RT REV PLACID D SOLARI ABBOT AND CHANCELLOR 75495 PRESIDENT OF SOUTHERN BENEDICTINE SOCIETY, WHICH HAS AN OUTSTANDING LOAN TO THE COLLEGE DESCRIBED IN SCHEDULE L, PART II 0 X 1795 MARKET VALUE X 916 MARKET VALUE X 2 714 MARKET VALUE X PHOTO FEES 1 1000 MARKET VALUE X DESIGN MATERIALS 1 9400 MARKET VALUE X FORGIVE DEBT 1 60000 FACE VALUE OF DEBT X AIRLINE TICKETS 1 1400 MARKET VALUE X NFL TICKETS 1 194 MARKET VALUE X DESIGN SERVICES 1 9000 MARKET VALUE 0 1 1 THIRD PARTY USE: PART I, LINE 32B: STOCKS ARE SOLD AUTOMATICALLY BY THE ORGANIZATION'S BROKER WHO RECEIVES THE SHARES. FORM 990, PART VI, SECTION A, LINE 2 HOEFLING, THIEFELDER, KENNELLY-COMMON BUSINESS RELATIONSHIP ABBOT PLACID, MR. GALLAGHER, AND FR. WEST HAVE COMMON ACTIVITIES WITHIN THE DIOCESE. FR. WEST AND MR. JONES ARE BOTH DIRECTORS OF THE FOUNDATION OF THE ROMAN CATHOLIC DIOCESE OF CHARLOTTE. MR. GALLAGHER SERVES AS DIOCESAN REVIEW BOARD CHAIRMAN. MR. RUFF SERVES ON DIOCESAN FINANCE COUNCIL. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF BELMONT ABBEY COLLEGE, INC. (BAC) ARE THE CHAPTER OF BELMONT ABBEY. IN ACCORDANCE WITH ITS RULES AND PROCEDURES, THE BUSINESS AND AFFAIRS OF THE COLLEGE SHALL BE MANAGED BY THE BOARD OF TRUSTEES OR BY SUCH COMMITTEES AS THE BOARD MAY ESTABLISH PURSUANT TO THE BY-LAWS AND THE CHARTER OF THE COLLEGE. THE BOARD OF TRUSTEES OF THE COLLEGE SHALL CONSIST OF NOT LESS THAN TWENTY (20) NOR MORE THAN FORTY (40) TRUSTEES. THE MEMBERS OF THE COLLEGE SHALL BE ENTITLED TO A MINIMUM REPRESENTATION OF THE BOARD OF TRUSTEES OF SEVEN (7) MEMBERS, ONE (1) OF WHOM SHALL BE THE ABBOT OF BELMONT ABBEY, THE CHANCELLOR EX-OFFICIO OF THE COLLEGE. SUCH REPRESENTATION SHALL BE LIMITED TO A MAXIMUM OF TWENTY-FIVE PERCENT (25%) OF THE TOTAL BOARD OF TRUSTEES THAT MAY BE SERVING FROM TIME TO TIME PROVIDED THE MINIMUM REPRESENTATION OF SEVEN (7) MEMBERS IS ALWAYS OBSERVED. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF BAC HAVE THE AUTHORITY TO ELECT OR REMOVE TRUSTEES AS OUTLINED IN THE ARTICLES OF INCORPORATION AND AMENDMENTS. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS OF BAC HAVE RESERVED CERTAIN POWERS IN THE ARTICLES OF INCORPORATION OR AMENDMENTS THERETO AS FOLLOWS: TO LEASE, SELL, MORTGAGE, OR ENCUMBER REAL ESTATE OWNED BY BAC; TO MERGE, AFFILIATE, LIQUIDATE, OR DISSOLVE BAC; TO AMEND THE ARTICLES OF INCORPORATION OF BAC; AND TO TERMINATE THE EXISTENCE OF BAC PURSUANT TO THE NON-PROFIT LAWS OF NC. FURTHER, THE MEMBERS SHALL APPROVE IN WRITING THE FOLLOWING ACTIONS OF THE BAORD OF TRUSTEES OF BAC: THE ELECTION AND/OR REMOVAL OF TRUSTEES; ANY AMENDMENT BY THE BY-LAWS OF BAC; THE APPOINTMENT OF THE PRESIDENT OF BAC; AND THE ADOPTION OF ANY CAPITAL BUDGET OR THE ADOPTION OF ANY BUDGET REFLECTING OPERATING DEFICITS OF BAC. FORM 990, PART VI, SECTION B, LINE 11 THE FINANCE COMMITTEE REVIEWED THE DRAFT 990 (PUBLIC INSPECTION COPY) IN DETAIL. BASED ON THIS REVIEW THEY APPROVED AND SENT THE 990 (PUBLIC INSPECTION COPY) TO THE FULL BOARD OF TRUSTEES WITH THEIR RECOMMENDATION TO FILE. A COPY WAS SENT TO EACH TRUSTEE TO REVIEW IN ADVANCE OF THE BOARD MEETING. THE BOARD ACCEPTED THE FINANCE COMMITTE'S RECOMMENDATION. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST ANNUALLY WITH THEIR EMPLOYMENT CONTRACT. BOARD MEMBERS ARE REQUIRED TO FILE A REPORT ANNUALLY WHICH DISCLOSES ANY INTERESTS THAT COULD GIVE RISE TO CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15A THE TERMS AND CONDITIONS OF EACH AMENDMENT TO THE PRESIDENT'S EMPLOYMENT AGREEMENT ARE PRESENTED TO THE BOARD OF TRUSTEES' EXECUTIVE COMMITTEE FOR DISCUSSION, COMMENT AND APPROVAL. PEER INSTITUTION COMPENSATION DATA IS PROVIDED FOR CONSIDERATION AS PART OF THE APPROVAL PROCESS. LIFE INSURANCE BENEFITS, IF ANY PROPOSED, WOULD ALSO BE REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION WILL MAKE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 799,564. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 294,984. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE 1,081. TOTAL TO FORM 990, PART XI, LINE 5: 1,095,629. FORM 990, SCHEDULE E, LN 3: ORGANIZATION PUBLISHED THE FOLLOWING STATEMENT IN ITS ADMISSION MATERIALS, APPLICATION, AND NEWS ADVERTISEMENT: "ADMISSION GRANTED TO QUALIFIED APPLICANTS WITHOUT REGARD TO RACE, SEX, AGE, CREED, HANDICAP, OR NATIONAL OR ETHNIC ORIGIN." SOUTHERN BENEDICTINE SOCIETY OF NORTH CAROLINA 100 BELMONT-MOUNT HOLLY ROAD BELMONT NC 28012 560530237 RELIGIOUS COMMUNITY NC 501(C)(3) LINE 1 N/A 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 SOUTHERN BENEDICTINE SOCIETY J 1711174 FAIR MARKET VALUE SOUTHERN BENEDICTINE SOCIETY O 119762 FAIR MARKET VALUE SOUTHERN BENEDICTINE SOCIETY P 130122 FAIR MARKET VALUE