2011-10-07T07:35:03-05:00 2011-05-31 CHERRY BEKAERT & HOLLAND LLP 1111 METROPOLITAN AVENUE SUITE 1000 CHARLOTTE NC 28204 990 2010-06-01 560530251 CATAWBA COLLEGE CATA 7046374463 2300 W INNES STREET SALISBURY NC 28144 CHARLES F WILLIAMS 7046374463 2011-10-06 1 KELLIANNE F BENSON 7043771678 2010 2016-03-07 17:11:31Z DR CRAIG TURNER 2300 W INNES STREET SALISBURY NC 28144 52812189 0 X WWW.CATAWBA.EDU X 1925 NC CATAWBA COLLEGE WAS FOUNDED IN NEWTON, NORTH CAROLINA, IN 1851 BY THE GERMAN REFORMED CHURCH. THE COLLEGE - WHICH IS TODAY AFFILIATED WITH THE UNITED CHURCH OF CHRIST - MOVED TO ITS PRESENT LOCATION IN SALISBURY IN 1925. THE COLLEGE ENDEAVORS TO ATTRACT STUDENTS BOTH NATIONALLY AND INTERNATIONALLY OF GOOD ABILITY AND CHARACTER. A PRIVATE, CO-EDUCATIONAL INSTITUTION, CATAWBA OFFERS THE BACHELOR OF ARTS, BACHELOR OF ARTS-EDUCATION, BACHELOR OF BUSINESS ADMINISTRATION, BACHELOR OF FINE ARTS, BACHELOR OF SCIENCE, AND MASTER OF EDUCATION TO TRADITIONAL AND NON-TRADITIONAL STUDENTS. THE COLLEGE ALSO SERVES THE PUBLIC THROUGH EDUCATIONAL OUTREACH AND VOLUNTEER SERVICE PROGRAMS FOR THE WORLD COMMUNITY. 49 49 1064 49 0 0 8689452 15815405 31856639 32679208 157641 644942 1219770 938892 41923502 50078447 11293965 12187378 0 0 15991694 15716502 0 0 596455 13067621 13513269 40353280 41417149 1570222 8661298 102702687 111644818 39444757 34849160 63257930 76795658 X CATAWBA COLLEGE IS COMMITTED TO PROVIDING STUDENTS AN EDUCATION RICH IN PERSONAL ATTENTION THAT BLENDS THE KNOWLEDGE AND COMPETENCIES OF LIBERAL STUDIES WITH CAREER PREPARATION. CATAWBA COLLEGE DRAWS STRENGTH FROM JUDEO-CHRISTIAN VALUES, SUSTAINS A DYNAMIC COMMUNITY OF LEARNERS AND SEEKS TO UNITE A DIVERSE POPULATION OF STUDENTS, FACULTY AND STAFF AS ACTIVE CO-PARTICIPANTS IN SCHOLARSHIP AND SERVICE. CATAWBA COLLEGE PREPARES STUDENTS TO REACH THEIR HIGHEST POTENTIAL WHILE BECOMING RESPONSIBILE CITIZENS WITH ZEAL TO ENRICH HUMAN LIFE. 0 0 12187378 12187378 STUDENT AID - PROVIDED 1,204 SCHOLARSHIPS FOR WORTHY AND NEEDY STUDENTS 21413828 33618100 SERVICES PROVIDED FOR APPROXIMATELY 1,200 UNDERGRADUATE LIBERAL ARTS STUDENTS INCLUDING INSTRUCTIONAL, ATHLETIC, OPERATIONS, ETC. 33601206 1 1 0 0 0 0 0 0 1 1 1 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 162 0 1 1064 1 0 0 0 0 0 0 0 0 0 0 X 49 49 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NC X CHARLES F WILLIAMS CFO 7046374463 2300 W INNES STREET SALISBURY NC 28144 C SHUFORD ABERNETHY III 1.00 X 0 0 0 GREGORY M ALCORN 1.00 X 0 0 0 BRYAN M APPLEFIELD 1.00 X 0 0 0 ROBERT B ARNOLD JR 1.00 X 0 0 0 MICHAEL S BAUK 1.00 X 0 0 0 DANIEL T BROSS 1.00 X 0 0 0 EDWARD A BROWN 1.00 X 0 0 0 LARRY T CLONINGER JR 1.00 X 0 0 0 SARA D COOK 1.00 X 0 0 0 JAMES C DAYVAULT 1.00 X 0 0 0 NEWTON O FOWLER JR 1.00 X 0 0 0 DAVID GENE FULLER 1.00 X 0 0 0 WILLIAM M GRAHAM 1.00 X 0 0 0 CLAUDE B HAMPTON JR 1.00 X 0 0 0 DR DOLAN HUBBARD 1.00 X 0 0 0 JAMES F HURLEY III 1.00 X 0 0 0 ABIGAIL HASTINGS KERR 1.00 X 0 0 0 RALPH W KETNER 1.00 X 0 0 0 DR MICHAEL J MAYHEW 1.00 X 0 0 0 PATRICK L MCCRORY 1.00 X 0 0 0 CA MICHAEL III 1.00 X 0 0 0 SAMUEL A PENNINGER JR 1.00 X 0 0 0 CHARLES G POTTS 1.00 X 0 0 0 PATRICIA PROCTOR RENDLEMAN 1.00 X 0 0 0 JULIAN H ROBERTSON JR 1.00 X 0 0 0 LYNNE SCOTT SAFRIT 1.00 X 0 0 0 RICHARD J SEIWELL 1.00 X 0 0 0 WADE H SHUFORD JR 1.00 X 0 0 0 RONALD L SMITH 1.00 X 0 0 0 FRED J STANBACK JR 1.00 X 0 0 0 CHARLES D TAYLOR JR 1.00 X 0 0 0 MONA WALLACE 1.00 X 0 0 0 MARTHA K WEST 1.00 X 0 0 0 JAMES L WILLIAMSON 1.00 X 0 0 0 D BRYAN JORDAN 1.00 X 0 0 0 NANCY F COUNCILL 1.00 X 0 0 0 CURTIS H EASTER JR 1.00 X 0 0 0 JAMES G WHITTON 1.00 X 0 0 0 ARLEN G YOKLEY 1.00 X 0 0 0 MS BARBARA MARSHALL 1.00 X 0 0 0 BARBARA KERSHNER DANIEL 1.00 X 0 0 0 GARY ELKINS 1.00 X 0 0 0 ROBERT P MCLEOD 1.00 X 0 0 0 ROBERT WAGNER 1.00 X 0 0 0 SALLY WHITNEY 1.00 X 0 0 0 CHARLES F WILLIAMS 40.00 X 119663 0 29916 THOMAS CHILDRESS 40.00 X 109505 0 27376 KENNETH CLAPP 40.00 X 101006 0 25252 DARLENE L BALL 1.00 X 0 0 0 PAUL E FISHER 1.00 X 0 0 0 BARRY D LEONARD 1.00 X 0 0 0 DR SHIRLEY P RITCHIE 1.00 X 0 0 0 TOM E SMITH 1.00 X 0 0 0 WILLARD C TURNER 40.00 X 259637 0 64909 LOIS WILLIAMS 40.00 X 103838 0 25960 RICK STEVENS 40.00 X 125272 0 31318 MIKE WILSON 40.00 X 114787 0 28697 933708 0 233428 7 0 1 0 CHARTWELLS PO BOX 91337 CHICAGO IL 60693 FOOD SERVICES 1481481 SUNGUARD HIGHER EDUCATION INC 14083 COLLECTIONS CTR CHICAGO IL 60693 COMPUTER SUPPORT 915657 LAFAVE'S CONSTRUCTION CO PO DRAWER 8146 LANDIS NC 28088 CONSTRUCTION 378137 MIDWEST AMERICAN MUSIC TOURS 7510 UNION HILL COURT LINCOLN NE 68501 MUSIC TOURS 221489 GREENLAWN YARD SERVICE PO BOX 207 WOODLEAF NC 27054 YARD MAINTENANCE 188233 7 15815405 518732 15815405 TUITION AND FEES 900099 26122211 26122211 AUXILLARY INCOME 900099 5990072 5990072 ATHLETIC INCOME 900099 566925 566925 32679208 858773 858773 2519911 2733742 -213831 -213831 -213831 OTHER INCOME 900099 938892 938892 938892 50078447 33618100 0 644942 12187378 12187378 1023651 204730 614191 204730 11296924 9175367 1938237 183320 2506520 1873343 556551 76626 889407 686152 174442 28813 2828304 2421820 374768 31716 68601 64084 4517 1102682 792890 276408 33384 304302 17183 287119 1000882 1000882 570944 522170 39869 8905 22400 21510 828 62 1429675 1069203 360472 2647330 1979843 667487 292610 6587 286023 EQUIPMENT RENTAL & MAIN 901892 139753 739478 22661 STUDENT ACTIVITIES 129710 127740 1970 BAD DEBT EXPENSE 77324 76855 469 RECRUITING 61141 48002 13139 PRINTING & PUBLICATIONS 47608 47608 0 0 2027864 1138106 883520 6238 41417149 33601206 7219488 596455 31669 1992874 139858 1150470 1957493 909692 923443 1418667 1000000 59729 35326 41364 64611 98932856 42998042 58847301 55934814 33451444 38025945 250562 1295660 6999824 9816759 102702687 111644818 2848456 1982508 563433 253162 30417986 26994045 5614882 5619445 39444757 34849160 X 16942538 16898467 8417465 16801819 37897927 43095372 63257930 76795658 102702687 111644818 X 8661298 4876430 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 31506 6128 5473 2132 40975 26266 2276 4258 1294 31506 33773 1138 -6775 1870 26266 1.00000 0 0 2319723 2319723 73600947 32756381 40844566 23012186 10241661 12770525 55934814 BONDS 418514 F MUTUAL FUNDS 37539455 F CORPORATE STOCKS 67976 F 38025945 LOANS TO STUDENTS, NET 2757948 LOAN COSTS, NET 167992 BENEFICIAL INTERESTS IN TRUSTS 3972263 CASH SURRENDER VALUE OF LIFE INSURANCE 671226 CONSTRUCTION IN PROGRESS 2247330 9816759 US GOVT LOAN FUNDS REFUNDABLE 2637013 ANNUITY PAYMENT LIABILITY 672453 LIABILITY UNDER TRUST AGREEMENTS 570846 DEPOSITS HELD FOR OTHERS 290696 ASSET RETIREMENT OBLIGATION 1043950 CAPITAL LEASE OBLIGATIONS 404487 5619445 50078447 41417149 8661298 4845692 30738 4876430 13537728 37246127 -12187378 -12187378 49433505 644942 644942 50078447 29229771 0 29229771 12187378 12187378 41417149 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO FURTHER THE HIGHER EDUCATION CAUSE. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE COLLEGE FOLLOWS THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES WHICH PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE COLLEGE'S 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 MAY 31, 2011 AND 2010, AND, ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTERESTS -27,712. CHANGE IN SPLIT INTEREST AGREEMENTS 58,450. PART XII, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS SHOWN NET OF TUITION REVENUES ON FINANCIAL STATEMENTS -12,187,378. PART XII, LINE 4B - OTHER ADJUSTMENTS: DIVIDEND AND INTEREST INCOME 858,773. REALIZED LOSSES ON INVESTMENTS -128,047. LOSS ON THE SALE OF FIXED ASSETS -85,784. PART XIII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS SHOWN NET OF TUITION REVENUES ON FINANCIAL STATEMENTS 12,187,378. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE POLICY IS INCLUDED IN ALL MEDIA AND IN ALL LITERATURE DISTRIBUTED. ADDITIONALLY, IT IS POSTED IN THE LOCAL NEWSPAPER WITH ALL JOB ADVERTISEMENTS (THIS IS DONE SEVERAL TIMES A YEAR). 1 SCHOLARSHIPS & TUITION DISCOUNTS 1204 12187378 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: PROCEDURES FOR APPLYING FOR FINANCIAL AID: WHENEVER POSSIBLE, CATAWBA COLLEGE WILL SUPPLEMENT THE FINANCIAL RESOURCES OF A STUDENT THROUGH MERIT PERFORMANCE-BASED AND NEED-BASED SCHOLARSHIPS AND GRANTS. A POTENTIAL STUDENT APPLIES AND IS ACCEPTED TO CATAWBA COLLEGE. AT THE TIME OF THEIR ACCEPTANCE, MERIT AID IS DETERMINED BY THE ADMISSIONS COUNSELOR ACCEPTING THE APPLICATION BASED ON A MATRIX CHART THAT HAS BEEN SET UP WITH REGARD TO GPA AND SAT SCORES, LIVING ON OR OFF CAMPUS, AND A SEPARATE TRANSFER STUDENT MATRIX. SCHOLARSHIPS ARE APPLIED DIRECTLY TO THE STUDENTS' ACCOUNT AND, THUS, MUST BE USED FOR EDUCATIONAL PURPOSES. WITH REGARDS TO ATHLETICS AT CATAWBA COLLEGE, THE FINANCIAL AID OFFICE MONITORS ALL ATHLETES TO MAKE SURE THEY DO NOT GO OVER CONFERENCE REGULATIONS REGARDING BOOKS AND SUPPLIES. CATAWBA COLLEGE REFERS TO THE NCAA DIVISION II MANUAL FOR POLICIES REGARDING STUDENT ATHLETES. THE FINANCIAL AID DIRECTOR SIGNS OFF ON THE SQUAD LISTS AND CHECKS FOR ELIGIBILITY WITH THE COMPLIANCE DIRECTOR AND, THE ASSOCIATE DIRECTOR OF FINANCIAL AID IS RESPONSIBLE FOR ENTERING THE ATHLETIC INFORMATION INTO THE CAI SYSTEM. THE CAI SYSTEM IS ALSO USED TO DETERMINE EQUILVALENCY COMPUTATIONS. X X X 1 0 X X X 0 0 0 0 0 0 0 0 0 WILLARD C TURNER 259637 0 0 0 0 0 0 0 64909 0 324546 0 0 0 RICK STEVENS 125272 0 0 0 0 0 0 0 31318 0 156590 0 0 0 PART I, LINE 1A DR. TURNER [PRESIDENT] HAS, AS A PART OF HIS CONTRACT, HOUSING, UTILITIES, INSURANCE, CUSTODIAL SERVICE ETC. PAID FOR BY THE COLLEGE. HE IS THE ONLY EMPLOYEE WITH THESE BENEFITS. THIS RESIDENCE IS PROVIDED FOR THE CONVENIENCE OF THE COLLEGE IN HAVING THE FUNCTIONS OF THE OFFICE OF THE PRESIDENT EFFICIENTLY CONDUCTED AND AS A CONDITION OF EMPLOYMENT AS PRESIDENT OF THE COLLEGE. FOR THE BENEFIT AND CONVENIENCE OF THE COLLEGE, THE PRESIDENT'S RESIDENCE SHALL BE AVAILABLE, AND SHALL BE USED, FOR COLLEGE-RELATED BUSINESS AND ENTERTAINMENT ON A REGULAR AND CONTINUING BASIS. X 18 518732 AVG PRICE 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 MIKE BAUK, MEMBER OF THE BOARD, AND SHIRLEY RITCHIE, SECRETARY OF THE BOARD, ARE NEPHEW AND AUNT THROUGH MARRIAGE. JIM DAYVAULT AND RICHARD SEIWELL, BOTH MEMBERS OF THE BOARD, ARE BROTHERS-IN-LAW. FORM 990, PART VI, SECTION B, LINE 11 A PUBLIC DISCLSOURE COPY OF THE FORM 990 WILL BE PROVIDED, PRIOR TO FILING, TO THE BOARD OF TRUSTEES TO PROTECT THE DONOR'S PRIVACY. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST STATEMENTS ARE SIGNED BY EACH MEMBER OF THE BOARD OF TRUSTEES ON AN ANNUAL BASIS. IN THE EVENT OF A POTENTIAL CONFLICT, THAT MEMBER WILL REFRAIN FROM PARTICIPATING IN THE CONSIDERATION OF THE PROPOSED TRANSACTION IN QUESTION. THIS PERSON WILL NOT VOTE ON OR TAKE ANY POSITION FOR OR AGAINST THE PROPOSED TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 THE COLLEGE UTILIZES A "COMMITTEE OF THE PRESIDENCY OF THE BOARD OF TRUSTEES" THAT EVALUATES THE PRESIDENT ON PREDETERMINED GOALS AND THE ASSESSMENT OF POSITIVE ACHIEVEMENT DETERMINES THE PRESIDENTIAL SALARY INCREASES. THE PRESIDENT REVIEWS THE POSITIONS OF THE SENIOR VICE PRESIDENT OF DEVELOPMENT, VICE PRESIDENT OF ADMISSIONS, PROVOST AND THE VICE PRESIDENT OF FINANCE TO ESTABLISH SALARY LEVELS BASED ON PERFORMANCE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND THE FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 4,845,692. CHANGE IN BENEFICIAL INTERESTS -27,712. CHANGE IN SPLIT INTEREST AGREEMENTS 58,450. TOTAL TO FORM 990, PART XI, LINE 5: 4,876,430.