Totals
- Total revenue
- $54,006,517
- Total expenses
- $41,975,471
- Contributions and grants received
- $22,573,699
- Grants paid
- $11,225,130
- Program service revenue
- $29,079,674
- Investment income
- $75,573
- Other revenue
- $2,277,571
- Total assets, end of year
- $66,603,165
- Total liabilities, end of year
- $11,812,939
- Net assets or fund balances, end of year
- $54,790,226
- Program services expenses (Part IX)
- $36,920,744
- Management and general expenses
- $4,074,937
- Fundraising expenses
- $979,790
- Program service expenses (Part III)
- $36,920,744
Program services were 88.0% 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)
$17,660,340
-
1f · All other contributions, gifts and grants
$4,913,359
-
1g · Noncash contributions included above
$53,372
-
2a · Program service revenue: TUITION AND FEES
total $22,257,700 · related or exempt $22,257,700
-
2b · Program service revenue: AUXILIARY SERVICES
total $6,821,974 · related or exempt $6,821,974
-
3 · Investment income
total $208,991 · excluded $208,991
-
7a · Gross sales of assets other than inventory
securities $518,297 · other assets $300
-
7b · Less cost or other basis and sales expenses
securities $608,601 · other assets $43,414
-
7c · Gain or loss
securities -$90,304 · other assets -$43,114
-
7d · Net gain or loss
total -$133,418 · excluded -$133,418
-
11a · Other revenue: OTHER REVENUE
total $1,614,878 · related or exempt $1,614,878
-
11b · Other revenue: CAMPUS STORE
total $662,693 · related or exempt $662,693
-
11e · Other revenue, total
$2,277,571
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $11,225,130 · program services $11,225,130
-
5 · Compensation of officers, directors and key employees
total $562,539 · management and general $562,539
-
7 · Other salaries and wages
total $10,629,962 · program services $9,070,960 · management and general $1,096,384 · fundraising $462,618
-
9 · Other employee benefits
total $1,991,016 · program services $1,594,975 · management and general $319,191 · fundraising $76,850
-
10 · Payroll taxes
total $802,634 · program services $621,089 · management and general $151,620 · fundraising $29,925
-
11f · Fees: investment management
total $4,059 · management and general $4,059
-
11g · Fees: other
total $136,277 · program services $41,900 · management and general $94,377
-
13 · Office expenses
total $1,619,054 · program services $1,261,960 · management and general $316,394 · fundraising $40,700
-
16 · Occupancy
total $738,609 · program services $344,886 · management and general $393,723
-
17 · Travel
total $894,564 · program services $768,665 · management and general $55,779 · fundraising $70,120
-
20 · Interest
total $282,382 · program services $117,602 · management and general $164,780
-
22 · Depreciation, depletion and amortization
total $1,450,785 · program services $1,183,207 · management and general $207,235 · fundraising $60,343
-
23 · Insurance
total $482,817 · program services $393,768 · management and general $68,967 · fundraising $20,082
-
24a · Other expenses: FOOD AND OTHER CONTRACT
total $7,252,177 · program services $6,191,350 · management and general $970,833 · fundraising $89,994
-
24b · Other expenses: REPAIRS, MAINTENANCE AN
total $2,068,964 · program services $879,654 · management and general $1,188,936 · fundraising $374
-
24c · Other expenses: LEASE EXPENSE
total $1,141,765 · program services $514,331 · management and general $627,434
-
24d · Other expenses: OTHER EXPENSE
total $462,832 · program services $596,576 · management and general -$154,679 · fundraising $20,935
-
24e · All other expenses
total $229,905 · program services $2,114,691 · management and general -$1,992,635 · fundraising $107,849
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,075,433 · end of year $2,294,471
-
2 · Savings and temporary cash investments
beginning of year $15,584,717 · end of year $31,385,407
-
3 · Pledges and grants receivable
beginning of year $9,473,050 · end of year $5,637,876
-
4 · Accounts receivable
beginning of year $1,468,052 · end of year $1,985,045
-
7 · Other notes and loans receivable
beginning of year $335,605 · end of year $12,230
-
8 · Inventories for sale or use
beginning of year $123,175 · end of year $130,336
-
9 · Prepaid expenses and deferred charges
beginning of year $369,369 · end of year $826,904
-
10a · Land, buildings and equipment: cost or other basis
$41,427,107
-
10b · Land, buildings and equipment: accumulated depreciation
$22,794,797
-
10c · Land, buildings and equipment, net
beginning of year $17,062,691 · end of year $18,632,310
-
11 · Investments: publicly traded securities
beginning of year $2,535,994 · end of year $2,673,743
-
12 · Investments: other securities
beginning of year $209,947 · end of year $101,254
-
15 · Other assets
beginning of year $2,896,620 · end of year $2,923,589
-
17 · Accounts payable and accrued expenses
beginning of year $3,431,170 · end of year $2,507,144
-
18 · Grants payable
beginning of year $372,301
-
19 · Deferred revenue
beginning of year $2,645,095 · end of year $2,718,571
-
23 · Secured mortgages and notes payable
beginning of year $2,282,650 · end of year $4,237,115
-
25 · Other liabilities
beginning of year $1,742,567 · end of year $2,350,109
-
27 · Net assets without donor restrictions
beginning of year $15,471,981 · end of year $12,370,318
-
28 · Net assets with donor restrictions
beginning of year $27,188,889 · end of year $42,419,908
Mission and programs · 2022
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 $25,695,614 · Revenue $31,357,245
-
TO PROVIDE SCHOLARSHIPS AND SIMILAR FINANCIAL AIDIN TAX YEAR 2021, THERE WERE INSTITUTIONAL AWARDS TO 728 STUDENTS.
Expenses $11,225,130 · Grants $11,225,130
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Jeff HeckJEFF HECK
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Roger OxendaleROGER OXENDALE
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Mark TooneMARK TOONE
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Tyler JohnsonTYLER JOHNSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Ned KiserNED KISER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
David BruceDAVID BRUCE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Claire EfirdCLAIRE EFIRD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Edward GrahamEDWARD GRAHAM
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Le ErwinLE ERWIN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Bill ShipleyBILL SHIPLEY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Charlie DavidsonCHARLIE DAVIDSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Lynne VeermanLYNNE VEERMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Richard MilamRICHARD MILAM
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jim MooreJIM MOORE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Anne GantANNE GANT
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Philip KosnettPHILIP KOSNETT
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
George LoganGEORGE LOGAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Suzanne SloanSUZANNE SLOAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
David SwansonDAVID SWANSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Ed SkoudisED SKOUDIS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Paul MaurerPAUL MAURER
CEO
- Total calculated
- $369,485
- From this org
- $311,396
- From related orgs
- $0
- Other
- $58,089
- Hours/week
- 50 + 1 related
Schedule J breakdown matched by us
- Base
- $275,396
- Bonus
- $0
- Other
- $36,000
- Deferred
- $0
- Nontaxable benefits
- $58,089
- Filer's total
- $369,485
-
John BeaghanJOHN BEAGHAN
CFO
- Total calculated
- $149,027
- From this org
- $136,944
- From related orgs
- $0
- Other
- $12,083
- Hours/week
- 50 + 1 related
-
David PooleDAVID POOLE
CHIEF ACADEMIC OFFICER FOR
- Total calculated
- $176,991
- From this org
- $155,258
- From related orgs
- $0
- Other
- $21,733
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $155,258
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $21,733
- Filer's total
- $176,991
-
Mark HijlehMARK HIJLEH
VP FOR ACADEMIC AFFAIRS
- Total calculated
- $167,601
- From this org
- $145,891
- From related orgs
- $0
- Other
- $21,710
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $145,891
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $21,710
- Filer's total
- $167,601
-
Jose LariosJOSE LARIOS
VP FOR ENROLLMENT & ATHLET
- Total calculated
- $140,413
- From this org
- $120,433
- From related orgs
- $0
- Other
- $19,980
- 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.
-
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
- 2022
- Filed
- 15 February 2024
- IRS schema version
- 2022v5.0
- Source object
- 202400519349300105
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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