2011-05-16T15:00:06-05:00 2010-06-30 CROWE HORWATH LLP 9600 Brownsboro Road Suite 400 Louisville KY 402411122 990 2009-07-01 610444671 CENTRE COLLEGE CENT 8592385451 600 WEST WALNUT STREET DANVILLE KY 40422 JOHN CUNY 2011-05-13 true 5023263996 2009 2016-02-24 21:20:13Z DR JOHN A ROUSH 600 WEST WALNUT STREET DANVILLE KY 40422 64470464 false X WWW.CENTRE.EDU X 1819 KY CENTRE COLLEGE IS AN EDUCATIONAL COMMUNITY DEDICATED TO STUDY IN THE LIBERAL ARTS AS A MEANS TO DEVELOP THE INTELLECTUAL, PERSONAL, AND MORAL POTENTIAL OF ITS STUDENTS. 40 39 1310 40 0 9444593 6227067 46030200 49058672 1297117 3391052 246724 131320 57018634 58808111 14936109 17334945 0 22677262 22895373 0 1575012 26214450 25381405 63827821 65611723 -6809187 -6803612 302957886 313948759 96549642 97342429 206408244 216606330 CENTRE COLLEGE IS A SMALL, INDEPENDENT, AND SELECTIVE EDUCATIONAL COMMUNITY DEDICATED TO STUDY IN THE LIBERAL ARTS AS A MEANS TO DEVELOP THE INTELLECTUAL, PERSONAL, AND MORAL POTENTIAL OF ITS STUDENTS. (CONTINUED IN SCHEDULE O) false false 51878243 17334945 49189992 FOUNDED IN 1819, THE SOLE MISSION OF CENTRE, A NATIONALLY RATED CO-ED PRIVATE LIBERAL ARTS COLLEGE, IS TO PROVIDE POST-SECONDARY UNDERGRADUATE EDUCATION TO ITS STUDENTS. 51878243 true true false false false false true false true true true false true true false false true false false false false false true true true false false false false false false true false false false true false false false false false false false false true 305 0 true 1310 true true true true FR UK false false false false false false false 40 39 false false false false false false false true true false false true true true true true true true false false KY X STEVE JAMISON 8592385455 600 WEST WALNUT STREET DANVILLE KY 40422 ROBERT T BROCKMAN 1 X X 0 0 0 RANDAL B KELL 1 X X 0 0 0 JAMES D ROUSE 1 X X 0 0 0 JOHN R BARTON 1 X 0 0 0 WILLIAM S BOWMER 1 X 0 0 0 ANITA M BRITTON 1 X 0 0 0 SHEILA A BURKS 1 X 0 0 0 RUTHERFORD B CAMPBELL 1 X 0 0 0 GREG W CAUDILL 1 X 0 0 0 PAUL W CHELLGREN 1 X 0 0 0 JOANNE K DUNCAN 1 X 0 0 0 ROBERT L ELLIOTT 1 X 0 0 0 BARB EMLER 1 X 0 0 0 JAMES H EVANS 1 X 0 0 0 MARY H GRIFFITH 1 X 0 0 0 J DAVID GRISSOM 1 X 0 0 0 G WATTS HUMPHREY 1 X 0 0 0 CRAIG W JOHNSON 1 X 0 0 0 ELIZABETH T KENNAN 1 X 0 0 0 PIERCE LIVELY 1 X 0 0 0 CRIT LUALLEN 1 X 0 0 0 KENNETH J MARDICK 1 X 0 0 0 DAVIS L MARKSBURY 1 X 0 0 0 DARYLL W MARTIN 1 X 0 0 0 THOMAS H MEEKER 1 X 0 0 0 JOHN H NEWMAN 1 X 0 0 0 MARK E NUNNELLY 1 X 0 0 0 JOSEPH H PATTERSON 1 X 0 0 0 PEGGY P PATTERSON 1 X 0 0 0 LILLIAN H PRESS 1 X 0 0 0 GEORGE W PRIVETT 1 X 0 0 0 JAMES M RATCLIFFE 1 X 0 0 0 EDDY ROBERTS 1 X 0 0 0 NELSON D RODES 1 X 0 0 0 JAMES L ROGERS 1 X 0 0 0 JAMES C SEABURY 1 X 0 0 0 JAMES A SMITH 1 X 0 0 0 JANE L STEVENSON 1 X 0 0 0 MARGARET A STROUP 1 X 0 0 0 KEVIN D TAYLOR 1 X 0 0 0 JOHN A ROUSH 50 X 260281 0 39731 JOHN E CUNY 50 X 158318 0 24739 RICHARD W TROLLINGER 50 X 160906 0 23456 STEPHANIE L FABRITIUS 50 X 150666 0 27846 J CAREY THOMPSON 50 X 121875 0 15712 W RANDY HAYS 50 X 89796 0 10156 MILTON M REIGELMAN 50 X 121986 0 15351 JAMES P LEAHEY 50 X 104865 0 17876 MICHAEL HAMM 50 X 100143 0 14359 GEORGE FOREMAN 50 X 111309 0 20316 1380145 0 209542 9 false true false ARCO NATIONAL CONSTRUCTION CO INC 1750 SOUTH BRENTWOOD BLVD ST LOUIS MO 63144 GENERAL CONTRACTOR 11054411 SODEXHO INC AFFILIATES PO BOX 70060 CHICAGO IL 60673 FOOD SERVICE 2740740 MCCOY CONSTRUCTION CO INC 101 THOROUGHBRED DR DANVILLE KY 40422 CONTRACTOR 808789 SMITH SCHAEFER 3035 READING ROAD CINCINNATI OH 45206 CONTRACTOR 800000 HASTINGS AND CHIVETTA INC 700 CORPORATE DR ST LOUIS MO 63105 ARCHITECT 319337 18 0 0 0 0 368323 5858744 40511 6227067 COMPREHENSIVE FEE 47233516 47233516 0 0 AUXILIARY SERVICES 1717668 1717668 0 0 VARIOUS STUDENT ASSESSMENTS 107488 107488 0 0 0 0 0 0 0 0 0 0 0 0 0 0 49058672 3242852 0 0 3242852 165743 0 0 165743 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5644810 0 5662353 0 -17543 0 -17543 0 0 -17543 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 FITNESS CENTER 78088 78088 0 0 MISCELLANEOUS 53232 53232 0 0 0 0 0 0 0 0 0 0 131320 58808111 49189992 0 3391052 0 0 16892145 16892145 442800 442800 0 0 1128041 263041 764966 100034 0 0 0 0 17326990 13238093 3459779 629118 1566743 1138047 339953 88743 1601250 1131409 399315 70526 1272349 951853 253016 67480 0 0 0 0 25163 0 25163 0 93811 0 93811 0 0 0 0 0 0 0 998164 0 998164 0 2258813 2258813 0 0 0 0 0 0 509431 375658 70056 63717 237523 136532 73326 27665 0 0 0 0 2174582 1121291 953291 100000 836345 721345 63907 51093 0 0 0 0 35177 1367 33810 0 2135011 2135011 0 0 0 0 0 0 4413265 3969401 443864 0 384289 0 384289 0 MISCELLANEOUS 3426053 1477338 1616335 332380 EXPENSED PROJECT COST 1919472 0 1919472 0 FOREIGN STUDY PROGRAMS 1343176 1343176 0 0 NORTON ARTS CENTER PROGRAM 1037334 1037334 0 0 LIBRARY OPERATIONS 1035895 1035895 0 0 2517901 2207694 265951 44256 65611723 51878243 12158468 1575012 0 0 0 0 69184 32721 46222659 16513400 23817787 21471128 449847 342566 0 0 0 0 1266418 1308536 196320 222729 1497747 1271011 151852846 54253940 80117131 97598906 66820126 80882698 61037350 71290650 0 0 0 0 21463317 23014414 302957886 313948759 7069195 6194777 0 0 0 0 85935704 85669929 0 0 0 0 0 0 0 0 3544743 5477723 96549642 97342429 X 74656935 80725672 4745120 5612838 127006189 130267820 0 0 0 0 0 0 206408244 216606330 302957886 313948759 X false true true X true true X 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 312935 X X X false 159479194 4858754 21320374 4445423 4072249 998164 176142486 191326054 21115643 -42346025 4966793 4575903 1073782 159479194 0.3516 0.6484 0 true false 0 6813092 6813092 0 104521046 38674516 65846530 0 0 0 0 0 0 0 0 0 40518708 15579424 24939284 97598906 0 0 PRIVATE EQUITY SECURITIES 40876517 F ALTERNATIVE EQUITY STRATEGIES 30414133 F 71290650 FUNDS HELD IN TRUST BY OTHERS 22945583 OTHER 68831 23014414 0 ANNUITY PAYMENT & LIFE INCOME OBLIGATIONS 1098973 ADVANCES FROM FEDERAL GOVT. FOR STUDENT LOANS 699031 FV ADJUSTMENT IN INTEREST RATE SWAPS 3679719 5477723 58808111 65611723 -6803612 17081414 0 0 0 -79716 17001698 10198086 57396979 17081414 0 0 0 17081414 40315565 998164 17494382 18492546 58808111 47198893 0 0 0 0 0 47198893 998164 17414666 18412830 65611723 Collections of art - description of collections Schedule D, Part III, Line 4 A MIX OF PAINTINGS, GLASS, AND SCULPTURE, THE ART COLLECTION EXISTS PRIMARILY TO HELP FULFILL THE LIBERAL ARTS EDUCATION MISSION OF THE COLLEGE. MANY, BUT NOT ALL, PIECES ARE DISPLAYED THROUGHOUT CAMPUS FOR VIEWING BY THE CAMPUS COMMUNITY AND VISITORS. Intended uses of endowment funds Schedule D, Part V, Line 4 CENTRE'S ENDOWMENT IS USED EXCLUSIVELY TO PARTIALLY FUND THE MISSION OF THE COLLEGE, INCLUDING, BUT NOT LIMITED TO, STUDENT SCHOLARSHIP, OPERATIONS, AND DEBT RETIREMENT. FIN 48 footnote Schedule D, Part X, Line 2 THE COLLEGE IS IN COMPLIANCE WITH GUIDANCE ISSUED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") WITH RESPECT TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES AS OF JANUARY 1, 2009. A TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE LIKELY THAN NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE "MORE LIKELY THAN NOT" TEST, NO TAX BENEFIT WILL BE RECORDED THE ADOPTION HAD NO EFFECT ON THE COLLEGE'S FINANCIAL STATEMENTS. Other changes in net assets Schedule D, Part XI, Line 8 ACTUARIAL LIABILITY FOR ANNUITY OBLIGATIONS - -79716; OTHER - 0; TOTAL - -79716 Other revenues in form 990 not in audited financial statements Schedule D, Part XII, Line 4b FINANCIAL AID & SCHOLARSHIPS - 17414666; ACTUARIAL LIABILITY FOR ANNUITY OBLIGATIONS - 79716; OTHER - 0; TOTAL - 17494382 Other expenses in form 990 not in audited financial statements Schedule D, Part XIII, Line 4b FINANCIAL AID & SCHOLARSHIPS - 17414666; OTHER - 0; TOTAL - 17414666 true true true IN ADDITION TO THE EQUAL OPPORTUNITY EMPLOYER NOTICE THAT APPEARS WITH ALL OF CENTRE'S EMPLOYMENT ADS, THE COLLEGE HAS AN OFFICIAL NONDISCRIMINATION STATEMENT THAT IS REPRINTED IN MAJOR PUBLICATIONS SUCH AS OUR INTRODUCTION-TO-THE-COLLEGE BROCHURE, THE ADMISSION VIEWBOOK, AND THE CATALOG. THE STATEMENT ALSO APPEARS ON THE COLLEGE'S WEB SITE. true true true true false false false false false false false false true false true true EUROPE (INCLUDING ICELAND AND GREENLAND) 1 PROGRAM SERVICES SEMESTER STUDY ABROAD 669831 CENTRAL AMERICA AND THE CARIBBEAN 1 PROGRAM SERVICES SEMESTER STUDY ABROAD 257156 EUROPE (INCLUDING ICELAND AND GREENLAND) PROGRAM SERVICES SCHOLARSHIPS 1223428 NORTH AMERICA (CANADA & MEXICO ONLY) PROGRAM SERVICES SCHOLARSHIPS 637300 EAST ASIA AND THE PACIFIC PROGRAM SERVICES SCHOLARSHIPS 179375 CENTRAL AMERICA AND THE CARIBBEAN PASSIVE INVESTMENTS 2 2967090 SCHOLARSHIP EUROPE (INCLUDING ICELAND AND GREENLAND) 92 1223428 CREDIT SCHOLARSHIP NORTH AMERICA (CANADA & MEXICO ONLY) 40 637300 CREDIT SCHOLARSHIP EAST ASIA AND THE PACIFIC 14 179375 CREDIT Procedures for monitoring use of grant funds Schedule F, Part I, Line 2 ALL INSTITUTIONAL SCHOLARSHIP GRANTS ARE AWARDED ON A COMPETITIVE BASIS, AND ARE POSTED AS A CREDIT ON STUDENT'S STATEMENTS. true INSTITUTIONAL SCHOLARSHIPS 1138 17665623 0 N/A N/A Procedures for monitoring use of grant funds Schedule I, Part I, Line 2 ALL STUDENT SCHOLARSHIPS, GRANTS, OR OTHER ASSISTANCE ARE MONITORED THROUGHOUT THE AWARD, ACCEPTANCE, AND APPLICATION PROCESSES. APPROPRIATE RECORDS ARE MAINTAINED AND DOCUMENTED. X X X true true X X X false false false false false false false false false JOHN A ROUSH 225334 0 34645 0 302 0 24500 0 15231 0 300012 0 0 0 JOHN E CUNY 141832 0 15006 0 1480 0 16507 0 8232 0 183057 0 0 0 RICHARD W TROLLINGER 144544 0 15135 0 1227 0 16649 0 6807 0 184362 0 0 0 STEPHANIE L FABRITIUS 136328 0 13926 0 412 0 15318 0 12528 0 178512 0 0 0 Travel for companions Schedule J, Part I, Line 1a AT TIMES SPOUSES ARE EXPECTED TO ACCOMPANY INTERESTED PERSONS ON BUSINESS TRIPS. ANY AMOUNTS DEEMED TO BE PERSONAL IN NATURE ARE TREATED AS TAXABLE COMPENSATION. Housing allowance or residence for personal use Schedule J, Part I, Line 1a JOHN ROUSH, PRESIDENT, AND STEPHANIE FABRITIUS, DEAN, ARE REQUIRED TO RESIDE IN ON-CAMPUS HOUSING PER THEIR EMPLOYMENT AGREEMENT. EXEMPT UNDER IRC 119. Health or social club dues or initiation fees Schedule J, Part I, Line 1a THE COLLEGE PURCHASED A MEMBERSHIP IN THE LOCAL COUNTRY CLUB IN THE PRESIDENT'S NAME TO GAIN ACCESS TO THE FACILITIES FOR OCCASIONAL BUSINESS PURPOSES. THE USE IS 100% BUSINESS AND NOT CONSIDERED TO BE TAXABLE COMPENSATION. COUNTY OF BOYLE KENTUCKY 616000756 103462BA4 2007-08-30 44156380 NEW CONSTRUCTION AND ADVANCED REFUNDING. false false COUNTY OF BOYLE KENTUCKY 616000756 103462BD8 2008-04-24 34385000 CURRENT REFUNDING. false false 44499416 0 29771662 0 733055 0 12576750 2009 false true true true 35675876 0 35340876 0 335000 0 0 true false false true false false false false 0.000 0.000 0.000 true false false false false 0.000 0.000 0.000 true false false false 0.0 false 0.0 false false true true SEE SCH O 0.0 false false SEE SCHEDULE O DISCOUNTED TUITION AND AID 7250 X 5 40511 MARKET VALUE 0 false false false Explanation of revenues not reported Schedule M, Part I, Line 33 N/A Review of form 990 by governing body Form 990, Part VI, Section B, Line 11A A DRAFT OF THE FORM 990 AND SUPPLEMENTAL SCHEDULES IS PREPARED BY THE CONTROLLER AND INDEPENDENT ACCOUNTING FIRM. PRIOR TO FILING, A COPY IS PROVIDED TO THE COLLEGE EXECUTIVE OFFICERS AND THE BOARD'S AUDIT COMMITTEE BEFORE FILING FOR REVIEW. A BOARD SUMMARY REPORT WAS PRESENTED ON MAY 13, 2011 TO THE AUDIT COMMITTEE. THE FINAL FORM 990 AND SUPPLEMENTAL SCHEDULES WAS PROVIDED ELECTRONICALLY TO THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. Conflict of interest policy Form 990, Part VI, Section B, Line 12c ALL TRUSTEES AND OFFICERS ARE SURVEYED ANNUALLY, VIA AN EXTENSIVE QUESTIONNAIRE, TO DISCLOSE A VARIETY OF RELATIONSHIPS WITH EACH OTHER OR DIRECTLY WITH THE COLLEGE. THIS SURVEY IS REVIEWED AND MAINTAINED BY COLLEGE COUNSEL, AND REVIEWED BY BOTH THE VP FINANCE AND THE CONTROLLER. THOSE FOUND TO HAVE A POTENTIAL CONFLICT, OR THE APPEARANCE OF SUCH, DO NOT PARTICIPATE IN FINAL RELATED BUSINESS DISCUSSIONS OR VOTES. Process used to establish compensation of top management official Form 990, Part VI, Section B, Line 15a THE COMPENSATION COMMITTEE, COMPRISED OF THE BOARD CHAIRMAN, BOARD VICE CHAIRMAN, AND FINANCE COMMITTEE CHAIR, DETERMINES AN APPROPRIATE COMPENSATION CONTRACT FOR THE PRESIDENT. AN IMPORTANT TOOL USED IN THEIR DECISION PROCESS IS A COMPARABILITY STUDY CONDUCTED BY AN APPOINTED BOARD COMMITTEE. THE COMMITTEE'S RECOMMENDATION, SUPPORTED BY THE COMPARABILITY STUDY AND OTHER DISCUSSION POINTS, IS PRESENTED TO THE BOARD'S EXECUTIVE COMMITTEE FOR DETAILED REVIEW AND APPROVAL. THE CONTRACT IS SUBSEQUENTLY PRESENTED TO THE FULL BOARD FOR RATIFICATION. WRITTEN DOCUMENTATION OF CONTRACT DISCUSSIONS, APPROVALS, ATTENDANCE, AND ACTION TAKEN ARE MAINTAINED ON CAMPUS BY A NON-BOARD MEMBER. THE PRESIDENT IS CURRENTLY UNDER A 3 YEAR CONTRACT. Public Disclosure Form 990, Part VI, Section C, Line 19 AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON OUR WEBSITE. CURRENTLY THE CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE NOT REQUIRED TO BE MADE AVAILABLE BY THE IRS. Financial aid or assistance from a governmental agency Schedule E, Line 6a CENTRE COLLEGE RECEIVES ASSISTANCE FROM THE FEDERAL STUDENT AID PROGRAM TO FUND THE COST OF ATTENDANCE FOR ELIGABLE STUDENTS. THESE PROGRAMS INCLUDE PELL, WORK STUDY, PERKINS, FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS AND STAFFORD LOANS. FEDERAL ASSISTANCE FROM OTHER SOURCES INCLUDE THE DEPARTMENT OF EDUCATION, NATIONAL AERONAUTICS AND SPACE ADMINISTRATION, NATIONAL SCIENCE FOUNDATION, NATIONAL INSTITUE OF HEALTH, AND DEPARTMENT OF COMMERCE. ORGANIZATION'S MISSION FORM 990, PART III, LINE 1 (CONTINUED FROM PART III) CENTRE NURTURES IN ITS STUDENTS THE ABILITY TO THINK LOGICALLY AND CRITICALLY, TO WORK CREATIVELY, TO ANALYZE AND COMPARE VALUES, AND TO WRITE AND SPEAK WITH CLARITY AND GRACE. IT ACQUAINTS STUDENTS WITH THE RANGE OF ACCOMPLISHMENTS OF THE HUMAN MIND AND SPIRIT IN A VARIETY OF ARTS AND THEORETICAL DISCIPLINES. IT ENABLES STUDENTS TO CHOOSE AND FULFILL SIGNIFICANT RESPONSIBILITIES IN SOCIETY. IN SHORT, CENTRE'S HIGHEST PRIORITY IS TO PREPARE ITS STUDENTS FOR LIVES OF LEARNING, LEADERSHIP, AND SERVICE. ISSUANCE COSTS FROM PROCEEDS SCHEDULE K, PART II, LINE 5 COLUMN A LINE 5 ISSUANCE COSTS ISSUANCE COSTS $334.422 CREDIT ENHANCEMENT FEE $398,632 TOTAL ISSUANCE COST IN COLUMN A LINE 5 $733,054 COLUMN B LINE 5 ISSUANCE COSTS ISSUANCE COSTS $233,242 CREDIT ENHANCEMENT FEE $101,758 TOTAL ISSUANCE COST IN COLUMN B LINE 5 $335,000 PROVIDERS WHERE GROSS PROCEEDS WERE INVESTED IN A GIC SCHEDULE K, PART IV LINE 4B UBS 29.7 YEARS PNC 5.0 YEARS PNC 8.0 YEARS PNC 10.0 YEARS GRANTS OR ASSISTANCE BENEFITTING INTERESTED PERSONS FORM 990, SCHEDULE L, PART III AS PER IRS INSTRUCTIONS FOR FORM 990, SCHEDULE L, SCHOOLS ARE NOT REQUIRED TO IDENTIFY INTERESTED PERSONS TO WHOM THEY PROVIDED SCHOLARSHIPS, FELLOWSHIPS, AND SIMILAR FINANCIAL ASSISTANCE. COLUMNS (A) AND (B) SHOULD BE LEFT BLANK FOR THESE LINES.