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Nonprofiteer
← MONTREAT COLLEGE

Form 990 for tax year 2023

Filed by MONTREAT COLLEGE.

Totals

Total revenue
$50,474,167
Total expenses
$40,105,166
Contributions and grants received
$18,296,438
Grants paid
$11,389,752
Program service revenue
$30,018,883
Investment income
$1,625,084
Other revenue
$533,762
Total assets, end of year
$76,510,444
Total liabilities, end of year
$14,105,506
Net assets or fund balances, end of year
$62,404,938
Program services expenses (Part IX)
$34,472,033
Management and general expenses
$4,519,153
Fundraising expenses
$1,113,980
Program service expenses (Part III)
$34,472,033

Program services were 86.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $8,953,918

  • 1f · All other contributions, gifts and grants

    $9,342,520

  • 1g · Noncash contributions included above

    $1,617,298

  • 2a · Program service revenue: TUITION AND FEES

    total $23,366,947 · related or exempt $23,366,947

  • 2b · Program service revenue: AUXILIARY SERVICES

    total $6,651,936 · related or exempt $6,651,936

  • 3 · Investment income

    total $1,689,563 · excluded $1,689,563

  • 7a · Gross sales of assets other than inventory

    securities $500,000

  • 7b · Less cost or other basis and sales expenses

    securities $533,648 · other assets $30,831

  • 7c · Gain or loss

    securities -$33,648 · other assets -$30,831

  • 7d · Net gain or loss

    total -$64,479 · excluded -$64,479

  • 11a · Other revenue: OTHER REVENUE

    total $433,793 · related or exempt $433,793

  • 11b · Other revenue: CAMPUS STORE

    total $99,969 · related or exempt $99,969

  • 11e · Other revenue, total

    $533,762

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $11,389,752 · program services $11,389,752

  • 5 · Compensation of officers, directors and key employees

    total $538,650 · management and general $538,650

  • 7 · Other salaries and wages

    total $10,842,245 · program services $9,016,807 · management and general $1,233,393 · fundraising $592,045

  • 9 · Other employee benefits

    total $2,124,070 · program services $1,687,286 · management and general $403,403 · fundraising $33,381

  • 10 · Payroll taxes

    total $779,226 · program services $604,927 · management and general $130,830 · fundraising $43,469

  • 11f · Fees: investment management

    total $8,613 · management and general $8,613

  • 11g · Fees: other

    total $298,764 · program services $41,910 · management and general $256,854

  • 13 · Office expenses

    total $1,034,685 · program services $946,554 · management and general $57,691 · fundraising $30,440

  • 16 · Occupancy

    total $783,369 · program services $771,546 · management and general $11,690 · fundraising $133

  • 17 · Travel

    total $906,079 · program services $820,562 · management and general $44,804 · fundraising $40,713

  • 20 · Interest

    total $257,018 · management and general $257,018

  • 22 · Depreciation, depletion and amortization

    total $1,404,160 · program services $1,112,482 · management and general $218,632 · fundraising $73,046

  • 23 · Insurance

    total $491,907 · program services $389,726 · management and general $76,592 · fundraising $25,589

  • 24a · Other expenses: FOOD AND OTHER CONTRACT

    total $5,506,698 · program services $5,064,887 · management and general $354,503 · fundraising $87,308

  • 24b · Other expenses: REPAIRS, MAINTENANCE AN

    total $1,668,012 · program services $1,632,069 · management and general $34,730 · fundraising $1,213

  • 24c · Other expenses: LEASE EXPENSE

    total $650,867 · program services $594,879 · management and general $55,988

  • 24d · Other expenses: BAD DEBT

    total $442,357 · management and general $442,357

  • 24e · All other expenses

    total $978,694 · program services $398,646 · management and general $393,405 · fundraising $186,643

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,294,471 · end of year $2,057,758

  • 2 · Savings and temporary cash investments

    beginning of year $31,385,407 · end of year $43,385,393

  • 3 · Pledges and grants receivable

    beginning of year $5,637,876 · end of year $4,335,468

  • 4 · Accounts receivable

    beginning of year $1,985,045 · end of year $1,130,643

  • 7 · Other notes and loans receivable

    beginning of year $12,230 · end of year $920

  • 8 · Inventories for sale or use

    beginning of year $130,336 · end of year $80,463

  • 9 · Prepaid expenses and deferred charges

    beginning of year $826,904 · end of year $551,089

  • 10a · Land, buildings and equipment: cost or other basis

    $42,621,184

  • 10b · Land, buildings and equipment: accumulated depreciation

    $23,498,949

  • 10c · Land, buildings and equipment, net

    beginning of year $18,632,310 · end of year $19,122,235

  • 11 · Investments: publicly traded securities

    beginning of year $2,673,743 · end of year $2,237,946

  • 12 · Investments: other securities

    beginning of year $101,254 · end of year $101,254

  • 15 · Other assets

    beginning of year $2,923,589 · end of year $3,507,275

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,507,144 · end of year $1,612,756

  • 19 · Deferred revenue

    beginning of year $2,718,571 · end of year $2,698,556

  • 23 · Secured mortgages and notes payable

    beginning of year $4,237,115 · end of year $3,761,169

  • 25 · Other liabilities

    beginning of year $2,350,109 · end of year $6,033,025

  • 27 · Net assets without donor restrictions

    beginning of year $12,370,318 · end of year $12,994,857

  • 28 · Net assets with donor restrictions

    beginning of year $42,419,908 · end of year $49,410,081

Mission and programs · 2023

Mission

MONTREAT COLLEGE IS AN INDEPENDENT, CHRIST-CENTERED, LIBERAL ARTS INSTITUTION THAT EDUCATES STUDENTS THROUGH INTELLECTUAL INQUIRY, SPIRITUAL FORMATION, AND PREPARATION FOR CALLING AND CAREER.

Activities or mission (Part I)

INDEPENDENT, CHRIST-CENTERED, LIBERAL ARTS INSTITUTION

  • THE COLLEGE PROVIDES A BROAD, RIGOROUS LIBERAL ARTS CURRICULUM WITH AN EMPHASIS ON TRADITIONAL AND SELECTED UNDERGRADUATE AND GRADUATE PROFESSIONAL DEGREE PROGRAMS, INCLUDING DEGREE PROGRAMS FOR ADULT LEARNERS AND PROGRAMS AT GEOGRAPHICALLY DISTANT LOCATIONS. OURSTATEMENTS OF MISSION, VISION AND FAITH HAVE FORMED THE FOLLOWING EDUCATIONAL OBJECTIVES AT MONTREAT COLLEGE.1.THAT STUDENTS WILL DEVELOP AN INFORMED, BIBLICAL WORLD VIEW INCLUDING THE FOLLOWING:- THE SOVEREIGNTY OF GOD OVER ALL CREATION AND KNOWLEDGE;- A LIFESTYLE OF CHRISTIAN SERVICE TO OTHERS AND THE COMMUNITY;- THE RECOGNITION OF THE INTRINSIC WORTH OF SELF AND ALL PERSONS;- A GENUINE CRITICAL OPENNESS TO THE IDEAS AND BELIEFS OF OTHERS;- THE FORMATION OF VALUES AND ETHICAL REASONING;- AN APPRECIATION FOR WHAT IS BEAUTIFUL, TRUE AND GOOD IN THE ARTS AND LITERATURE;-A RESPECT FOR AND ATTITUDE OF STEWARDSHIP TOWARD THE WHOLE OF CREATION;- AN UNDERSTANDING OF THE PAST AND ITS INTERCONNECTEDNESS WITH THE PRESENT AND FUTURE.2. THAT STUDENTS WILL DEMONSTRATE EFFECTIVE WRITTEN AND ORAL COMMUNICATION SKILLS.3. THAT STUDENTS WILL DEMONSTRATE CRITICAL THINKING AND PROBLEM-SOLVING SKILLS.4. THAT STUDENTS WILL DEMONSTRATE ESSENTIAL COMPUTER INFORMATION SYSTEMS SKILLS.5. THAT STUDENTS WILL DEMONSTRATE COMPETENCY IN THEIR ACADEMIC MAJORS.6. THAT STUDENTS WILL DEVELOP INTERPERSONAL AND TEAM SKILLS AND AN UNDERSTANDING AND APPRECIATION OF THEIR PERSONAL STRENGTHS AND WEAKNESSES.7. THAT STUDENTS WILL BECOME REFLECTIVE AND RESPONSIBLE CITIZENS, EFFECTIVE LEADERS, AND COMMITTED LAITY.

    Expenses $23,082,281 · Revenue $30,552,645

  • TO PROVIDE SCHOLARSHIPS AND SIMILAR FINANCIAL AID - IN FISCAL YEAR 2024, THERE WERE INSTITUTIONAL AWARDS TO 725 STUDENTS.

    Expenses $11,389,752 · Grants $11,389,752

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • JEFF HECK

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • ROGER OXENDALE

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MARK TOONE

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • DAVID BRUCE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CHARLIE DAVIDSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CLAIRE EFIRD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • LE ERWIN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ANNE GANT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • EDWARD GRAHAM

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • TYLER JOHNSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • NED KISER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • PHILIP KOSNETT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • GEORGE LOGAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • STEVE MCCAY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • RICHARD MILAM

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JIM MOORE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • BILL SHIPLEY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ED SKOUDIS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • SUZANNE SLOAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DAVID SWANSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • LYNNE VEERMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • YASSER YOUSSEF

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • PAUL MAURER

    CEO

    Total calculated
    $335,288
    From this org
    $313,144
    From related orgs
    $0
    Other
    $22,144
    Hours/week
    50 + 1 related

    Schedule J breakdown matched by us

    Base
    $277,144
    Bonus
    $0
    Other
    $36,000
    Deferred
    $0
    Nontaxable benefits
    $22,144
    Filer's total
    $335,288

  • JOHN BEAGHAN

    CFO

    Total calculated
    $189,902
    From this org
    $173,761
    From related orgs
    $0
    Other
    $16,141
    Hours/week
    50 + 2 related

    Schedule J breakdown matched by us

    Base
    $173,761
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $16,141
    Filer's total
    $189,902

  • JOSE LARIOS

    VP FOR ENROLLMENT MANAGEMENT AND ATHLETICS

    Total calculated
    $193,779
    From this org
    $171,955
    From related orgs
    $0
    Other
    $21,824
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $171,955
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $21,824
    Filer's total
    $193,779

  • MARK HIJLEH

    PROVOST AND VP FOR ACADEMIC AFFAIRS

    Total calculated
    $172,166
    From this org
    $150,439
    From related orgs
    $0
    Other
    $21,727
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,439
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $21,727
    Filer's total
    $172,166

  • JAMES CLARK

    DIRECTOR OF CYBERSECURITY TECHNOLOGY

    Total calculated
    $150,130
    From this org
    $149,338
    From related orgs
    $0
    Other
    $792
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,338
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $792
    Filer's total
    $150,130

  • RHONDA DEVAN

    ASSISTANT VP FOR FINANCE & ADMINISTRATION

    Total calculated
    $144,100
    From this org
    $130,863
    From related orgs
    $0
    Other
    $13,237
    Hours/week
    40

  • GARRETT LUCK

    VP FOR ADVANCEMENT

    Total calculated
    $149,313
    From this org
    $127,699
    From related orgs
    $0
    Other
    $21,614
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE ORGANIZATION PROVIDED THE PRESIDENT WITH A HOUSING ALLOWANCE AS PART OF HIS EMPLOYMENT AND RESPONSIBILITIES AS SERVING AS THE COLLEGE PRESIDENT. THE ESTIMATED VALUE OF THESE SERVICES ARE $36,000.
PART I, LINE 3
THE ORGANIZATION USES COMPARABILITY DATA FROM FORMS 990 OF OTHER SIMILAR ORGANIZATIONS AND FROM A COMPENSATION STUDY TO DETERMINE THE SALARIES FOR THE PRESIDENT/CEO AND OTHER OFFICERS. THE PRESIDENT/CEO'S SALARY IS DETERMINED AND APPROVED BY THE INDEPENDENT BOARD OF TRUSTEES ANNUALLY AFTER REVIEWING COMPARABILITY DATA.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • MONTREAT COLLEGE FOUNDATION

    501(C)(3) · TO SUPPORT THE EDUCATIONAL PURPOSE OF MONTREAT COLLEGE · NC · controlled entity

    Directly controlled by MONTREAT COLLEGE

  • CAROLINA CYBER CENTER INC

    501(C)(3) · TO SUPPORT THE EDUCATIONAL PURPOSE OF MONTREAT COLLEGE · NC · controlled entity

    Directly controlled by MONTREAT COLLEGE

Provenance

Return type
form_990
Tax year
2023
Filed
28 April 2025
IRS schema version
2023v6.0
Source object
202521229349300627

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