2012-05-04T13:12:43-07:00 2011-06-30 990 2010-07-01 570314408 PRESBYTERIAN COLLEGE PRES 8648338477 PO Box 975 Clinton SC 29325 Morris Galloway 8648338205 2012-05-04 2010 2016-02-24 21:20:13Z John Griffith 503 South Broad Street Clinton SC 29325 93939480 0 X www.presby.edu X Non-Profit Organization 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 33 947 250 379440 62188 6247279 11174379 46277772 48174258 768328 3635704 67038 246855 53360417 63231196 22552859 22952652 0 0 19920936 22641591 0 0 1307805 16307202 18458635 58780997 64052878 -5420580 -821682 149296591 160039554 42269627 42629290 107026964 117410264 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. The College opened the School of Pharmacy in the Fall of 2010. The School 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. 0 0 57874093 22952652 48174258 Higher Education: Provision of undergraduate education for 1133 full time equivalent students and including room and board for 1130 students. Provision of pharmacy education for 78 full time equivalent students. 0 0 0 57874093 1 1 0 1 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 1 1 1 1 0 0 0 0 1 0 0 0 0 1 161 0 1 947 1 1 1 0 0 0 1 1 1 1 0 0 0 0 X 34 33 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Karen Mattison 8648338477 503 South Broad Street Clinton SC 29325 William D Brearley 1 X 0 0 0 Allen C McSween 1 X 0 0 0 Larry W Massey 1 X 0 0 0 Richard P Spencer 1 X 0 0 0 G Anderson Douglas Jr 1 X 0 0 0 William A Gray 1 X 0 0 0 Robert H Hopkins 1 X 0 0 0 G Richard Query 1 X 0 0 0 Roland F Young 1 X 0 0 0 J McNeill Singleton 1 X 0 0 0 Thomas A Whitaker 1 X 0 0 0 Jeffrey G Reynolds 1 X 0 0 0 William B Shearer 1 X 0 0 0 Thomas R Parrish 1 X 0 0 0 Robert M Hicklin 1 X 0 0 0 William M Matthews 1 X 0 0 0 G Patrick Phillips 1 X 0 0 0 James W Spradley 1 X 0 0 0 Thomas L Thomason 1 X 0 0 0 Sean P Foley 1 X 0 0 0 Welton O'Neal Jr 1 X 0 0 0 W Rutledge Galloway 1 X 0 0 0 Charles C Heyward Sr 1 X 0 0 0 James H Powell 1 X 0 0 0 C Douglas Warner 1 X 0 0 0 E Lane Alderman 1 X 0 0 0 David P Berry 1 X 0 0 0 William D Loeble 1 X 0 0 0 Eloise F Shepherd 1 X 0 0 0 Austin A Adams 1 X 0 0 0 Thomas H Milton 1 X 0 0 0 James D Samples 1 X 0 0 0 David F Parker II 1 X 0 0 0 Susan C Reynolds 1 X 0 0 0 James L Medford 1 X 0 0 0 John V Griffith 40 X 213181 0 76864 Morris M Galloway 40 X 116121 0 56118 Robert E Staton 40 X 134041 0 7954 Robert K Holyer 40 X 114585 0 21098 Richard E Stull 40 X 207065 0 23273 William M McDonald 40 X 95659 0 23175 Anita Gustafson 40 X 80633 0 17614 John T Johnson 40 X 140753 0 24251 Charles S Asbill 40 X 136333 0 23330 L Cliff Fuhrman 40 X 140063 0 12306 Laura Fox 40 X 124767 0 13971 Lewis McKelvey 40 X 122936 0 14753 1626137 0 314707 14 0 1 0 Brewington Contractors 100 Sunflower Lane Clinton SC 29325 Construction 275064 McMillan Pazdan Smith LLC P O Box 100199 Columbia SC 29202 Architecture 116940 2 0 0 0 0 318037 10856342 1443519 11174379 Tuition, room and board 611310 45858768 45858768 0 0 Summer Conference 532000 186333 18706 167627 0 Food Service and Bookstore Commission 721310 269533 265246 4287 0 Athletic Revenue 611310 1214207 1164462 49745 0 Other Revenue 611310 645417 645417 0 0 0 0 0 0 48174258 1693598 1693598 0 0 0 0 0 0 10437 0 10437 0 41116 0 87 0 41029 0 41029 41029 0 0 32650303 0 30708197 0 1942106 0 1942106 1957530 -15424 0 0 0 0 0 0 0 Standard Candy K-1 311000 162768 0 162768 0 Other K-1s 900099 32621 32621 0 0 0 0 0 0 195389 63231196 51677377 379440 0 0 0 22952652 22952652 0 0 0 0 849796 354076 371760 123960 0 0 0 0 16878803 14341329 1990281 547193 910519 753006 101126 56387 2786572 2106311 574273 105988 1215901 1020241 146607 49053 0 0 0 0 138580 48972 89574 34 86230 0 86230 0 0 0 0 0 0 0 166303 166303 0 0 2015349 1776784 117511 121054 62993 56719 6274 0 1671071 1546093 39236 85742 385578 259878 110636 15064 0 0 0 0 2724448 2559963 152154 12331 1718102 1629690 61278 27134 0 0 0 0 21421 17564 3415 442 1078560 1053429 20970 4161 0 0 0 0 3503844 3272356 214319 17169 572988 376486 186012 10490 Dining Hall Charges and Foond 2664798 2547911 44135 72752 Minor Equipments and Supplies 955218 829541 125224 453 Bad Debts 226752 0 226752 0 Other Miscellaneous Expenses 466400 204789 203213 58398 64052878 57874093 4870980 1307805 0 0 4811413 5724359 3517383 5925386 248204 325766 0 0 0 0 831591 767542 28925 24983 0 535108 94785555 42264380 62693692 52521175 67645753 75794724 986643 1154934 97473 97473 0 0 8435514 17168104 149296591 160039554 7964792 7141023 0 0 14754 21493 30000000 33415000 0 0 0 0 0 0 3500000 1250000 790081 801774 42269627 42629290 X 17464812 21847739 9780988 12346169 79781164 83216356 107026964 117410264 149296591 160039554 X -821682 11204982 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 1 200 0 0 1 150 1 0 0 350 0 SchC_P2B_S00_L01 Schedule C, Part II-B, Line 1 Presbyterian College, as one of twenty members of 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 letter writing campaign, sharing with their respective state legislators the benefits that tuition grants have afforded the students. These letters precede 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. 0 8421836 0 0 X X 0 65694233 3811664 13098422 5332248 2180953 125383 74965735 58859154 3231627 7783731 2489344 1462695 228240 65694233 84028567 2843755 -22563862 3229583 1936877 282846 58859154 0.052 0.948 0 1 0 0 4197658 4197658 0 79980347 34500533 45479814 0 0 0 0 0 9623775 7754773 1869002 0 983775 9074 974701 52521175 Trust Fund Assets 5083979 Contributions Receivable from Trusts 2994780 Other Assets 9089345 17168104 0 Advances from Federal Government 799698 Trust Liabilities 2076 801774 63231196 64052878 -821682 11040930 0 0 0 -197711 10843219 10021537 51327333 11040930 0 0 174163 11215093 40112240 166304 22952652 23118956 63231196 41184574 0 0 0 378869 378869 40805705 166304 23080869 23247173 64052878 SchD_P03_S00_L04 Schedule D, Part III, Line 4 The College's collections are made up of library books, artifacts of historical significance and art objects. These collections are held for public exhibition, education and research. SchD_P05_S00_L04 Schedule D, Part V, Line 4 The College's endowment consists of approximately 725 individual funds established for a variety of purposes including scholarships and the support of academic and sports programs. SchD_P10_S00_L02 Schedule D, 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, 2011 and 2010 and accordingly, no liability has been accrued. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 K-1 revenue and expenses are not reported on the College financial statements. Foundation revenue and expenses are not reported on the College's 990. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Unrealized gains are included in financial statements but not reported on 990. Foundation revenue and expensesare not reported on the College's 990 as they are separate tax entities. SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Investment expenses and financial aid are reported as contra revenue on the financial statements. SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d Transfers from PC Foundation are included in the financial statements, but not reported on the College's 990 because the foundation is a separate tax entity. SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Financial Aid are reported as contra revenue on the financial statements. K-1 expenses are not reported on the financial statements. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SchE_P01_S00_L03 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. SchE_P01_S00_L06 Schedule E, Part I, Line 6 Presbyterian College students may receive title IV aid, federal loans and/or SC tuition grant assistance. East Asia and the Pacific 0 1 Program Services Travel expenses for students and faculty member going to China as part of their educational program. 16955 Europe (including Iceland and Greenland) 0 2 Program Services Travel expenses for students and faculty members going to Italy as part of their educational program. 49562 South Asia 0 2 Program Services Travel expenses for students and faculty members going to India as part of their educational program. 13352 0 5 79869 0 0 0 0 0 0 1 Scholarships to attend Presbyterian College 1139 22952652 0 SchI_P01_S00_L02 Schedule I, Part I, Line 2 Presbyterian College awards scholarships to its students. Scholarships are awarded by the Office of Financial Aid who is responsible for matching recipients with the eligible scholarship awards. Scholarships are reviewed annually to monitor compliance with the terms of the scholarships. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 John V Griffith 197681 0 0 0 15500 0 19550 0 57314 0 290045 0 0 0 Richard E Stull 203739 0 0 0 3326 0 9390 0 13883 0 230338 0 0 John T Johnson 137677 0 0 0 3076 0 7938 0 16313 0 165004 0 0 0 Charles S Asbill 133360 0 0 0 2973 0 7673 0 15657 0 159663 0 0 0 Morris M Galloway 101462 0 0 0 14659 0 8483 0 47635 0 172239 0 0 0 L Cliff Fuhrman 140063 0 0 0 0 0 3197 0 9109 0 152369 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a The President is a minister. As part of his call in lieu of a manse, he is provided a housing allowance. Club membership is used for entertaining donors and others on College business. SchJ_P01_S00_L03 Schedule J, Part I, Line 3 The President's compensation is determined by the Executive Committee of the Board of Trustees after reviewing the end of the year evaluation. The process is part of a two day meeting in August. The salary is compared with CUPA data for a comparison on set of schools. Education Facilities Authority for Private Non-profit Institution of Higher Education 576000286 CUSIPNONE 2009-04-01 6500000 Pharmacy School building renovation 0 0 0 Education Facilities Authority for Private Non-profit Institution of Higher Education 576000286 CUSIPNONE 2009-08-05 23500000 Refund $27,000,000 bond partially 0 0 0 Education Facilities Authority for Private Non-profit Institution of Higher Education 576000286 CUSIPNONE 2010-07-30 3550000 Refund $27,000,000 bond partially 0 0 0 0 0 6500000 0 0 0 88775 0 0 6411225 0 0 2010 0 0 1 1 135000 0 23500000 0 0 0 0 0 0 23500000 0 0 2009 1 0 1 1 0 0 3550000 0 0 0 50000 0 0 3500000 0 0 2009 1 0 1 1 0 0 1 0 1 0 0 0 1 0 0 1 0 1 0 0 0 1 0 0 1 0 1 0 0 0 1 0 1 0 0 0 1 1 1 1 SunTrust 5 0 0 0 0 0 0 1 0 0 0 0 Tuition Discount Children of officers 27580 Merit Scholarships Children of Officers/Board Members 18501 BB&T Insurance Service Thomas R Parrish Board of Trustees 459443 Premium paid on insurance 0 X 23 1433493 FMV X Donated supplies and location for events 3 1391 Cost X Donated supplies and equipments 3 2749 Cost X Donated renovations 1 5886 Cost 0 0 1 0 F990_P06_S0A_L04 Form 990, Part VI, Section A, Line 4 Presbyterian College's Bylaws were updated to reflect a transition from a 40 member board to a 28 member board, to change the structure of the Board standing committees, to allow electronic meetings and other similiar updates that do not affect the College's mission or purpose. Due to efile limitations with our software provider, a copy of the new bylaws could not be attached to this return. The bylaws will be provided upon request. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b Form 990 is made available to the Finance Committee and all Trustees for review prior to filling. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c Board of Trustees, College officers and other employees complete a Conflit of Interest Form on an annual basis. Forms are reviewed by the College President and the Executive Vice President of Finance and Administration. Board members with conflicts recuse themselves from these decisions. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The President's compensation is determined by the the Executive Committee of the Board of Trustees after reviewing the end of the year evaluation. The process is part of a two day meeting in August. The salary is compared with CUPA data for a comparison set of schools. Officer salaries are determined by the College President based on a mid-year and end-of-year evaluation of the satisfactory achievement of goals and objectives. CUPA data for a comparison group of schools for similiar positions is considered. Officer salaries and comparative CUPA data are presented to both the Executive and Human Resource Committee of the Board. All of these decisions are documented in the agendas and records of the appropriate committee and in the personnel files. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 The College's governing documents, conflicts of interest policy, and audited financial statements are available for inspection. F990_P11_S00_L05 Form 990, Part XI, Line 5 K-1 revenue and expenses are not reported on the College financial statements. Unrealized gains are not reported on 990. Presbyterian College Foundation P O Box 975 Clinton SC 29325 571021640 Foundation exists to benefit Presbyterian College which provides higher education to 1133 students. SC 501(c)(3) 11-Type II N/A Presbyterian Real Estate Foundation P O Box 975 Clinton SC 29325 571021641 Foundation exists to benefit Prebyterian College which provides higher education to 1133 students. SC 501(c)(3) 11-Type II N/A 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 Presbyterian College Foundation h 378869 Cash Transfer Presbyterian College Foundation n 0 Presbyterian Real Estate Foundation n 0