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Nonprofiteer
← CATAWBA COLLEGE

Form 990 for tax year 2023

Filed by CATAWBA COLLEGE.

Totals

Total revenue
$119,840,475
Total expenses
$78,537,233
Contributions and grants received
$70,635,105
Grants paid
$26,537,728
Program service revenue
$46,696,711
Investment income
$2,503,955
Other revenue
$4,704
Total assets, end of year
$557,500,506
Total liabilities, end of year
$12,168,249
Net assets or fund balances, end of year
$545,332,257
Program services expenses (Part IX)
$55,326,700
Management and general expenses
$21,979,857
Fundraising expenses
$1,230,676
Program service expenses (Part III)
$55,326,700

Program services were 70.4% 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.

  • 1c · Fundraising events

    $359,180

  • 1e · Government grants (contributions)

    $2,854,032

  • 1f · All other contributions, gifts and grants

    $67,421,893

  • 1g · Noncash contributions included above

    $473,171

  • 2a · Program service revenue: TUITION AND FEES

    total $35,604,598 · related or exempt $35,604,598

  • 2b · Program service revenue: AUXILIARY INCOME

    total $9,062,150 · related or exempt $8,884,421 · unrelated business $177,729

  • 2c · Program service revenue: ATHLETIC INCOME

    total $373,560 · related or exempt $373,560

  • 2f · All other program service revenue

    total $1,656,403 · related or exempt $1,656,403

  • 3 · Investment income

    total $2,508,102 · excluded $2,508,102

  • 7a · Gross sales of assets other than inventory

    securities $15,184,649

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

    securities $15,188,796

  • 7c · Gain or loss

    securities -$4,147

  • 7d · Net gain or loss

    total -$4,147 · excluded -$4,147

  • 8a · Fundraising events: gross income

    $47,149

  • 8a · Fundraising events: contributions included on line 1c

    $359,180

  • 8b · Fundraising events: direct expenses

    $42,445

  • 8c · Net income from fundraising events

    total $4,704 · excluded $4,704

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $21,060,870 · program services $21,060,870

  • 3 · Grants to foreign organizations and individuals

    total $5,476,858 · program services $5,476,858

  • 5 · Compensation of officers, directors and key employees

    total $1,260,867 · management and general $994,067 · fundraising $266,800

  • 7 · Other salaries and wages

    total $20,180,826 · program services $14,495,469 · management and general $5,146,121 · fundraising $539,236

  • 8 · Pension plan contributions

    total $731,627 · program services $627,685 · management and general $85,521 · fundraising $18,421

  • 9 · Other employee benefits

    total $2,130,249 · program services $1,629,880 · management and general $434,067 · fundraising $66,302

  • 10 · Payroll taxes

    total $1,429,568 · program services $1,039,759 · management and general $337,446 · fundraising $52,363

  • 11b · Fees: legal

    total $6,054 · program services $3,734 · management and general $2,320

  • 11c · Fees: accounting

    total $421,516 · management and general $421,516

  • 11g · Fees: other

    total $4,620,573 · program services $1,410,527 · management and general $3,164,586 · fundraising $45,460

  • 12 · Advertising and promotion

    total $334,201 · program services $68,263 · management and general $265,426 · fundraising $512

  • 13 · Office expenses

    total $761,409 · program services $356,761 · management and general $348,520 · fundraising $56,128

  • 14 · Information technology

    total $1,138,876 · program services $231,176 · management and general $878,135 · fundraising $29,565

  • 16 · Occupancy

    total $3,451,417 · program services $1,726,644 · management and general $1,724,773

  • 17 · Travel

    total $2,119,330 · program services $1,774,249 · management and general $299,481 · fundraising $45,600

  • 19 · Conferences, conventions and meetings

    total $533,744 · program services $312,262 · management and general $147,387 · fundraising $74,095

  • 20 · Interest

    total $154,347 · program services $19,204 · management and general $135,143

  • 22 · Depreciation, depletion and amortization

    total $5,048,055 · management and general $5,048,055

  • 23 · Insurance

    total $660,219 · program services $400 · management and general $659,819

  • 24a · Other expenses: DINING

    total $2,387,892 · program services $2,387,892

  • 24b · Other expenses: SUPPLIES

    total $2,093,316 · program services $1,463,519 · management and general $612,459 · fundraising $17,338

  • 24c · Other expenses: BAD DEBT EXPENSE

    total $1,208,374 · management and general $1,208,374

  • 24d · Other expenses: STUDENT ACTIVITIES

    total $150,958 · program services $147,714 · management and general $2,841 · fundraising $403

  • 24e · All other expenses

    total $1,176,087 · program services $1,093,834 · management and general $63,800 · fundraising $18,453

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $22,780,361 · end of year $28,961,685

  • 2 · Savings and temporary cash investments

    beginning of year $8,656,489 · end of year $36,052,843

  • 3 · Pledges and grants receivable

    beginning of year $772,598 · end of year $4,342,915

  • 4 · Accounts receivable

    beginning of year $1,919,818 · end of year $2,120,884

  • 8 · Inventories for sale or use

    beginning of year $72,579 · end of year $72,579

  • 9 · Prepaid expenses and deferred charges

    beginning of year $772,990 · end of year $578,092

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

    $169,964,990

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

    $78,495,650

  • 10c · Land, buildings and equipment, net

    beginning of year $83,664,257 · end of year $91,469,340

  • 11 · Investments: publicly traded securities

    beginning of year $88,627,992 · end of year $114,016,073

  • 15 · Other assets

    beginning of year $234,895,866 · end of year $279,886,095

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,481,825 · end of year $4,066,115

  • 19 · Deferred revenue

    beginning of year $1,050,062 · end of year $3,042,911

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $139,391

  • 25 · Other liabilities

    beginning of year $6,611,747 · end of year $4,919,832

  • 27 · Net assets without donor restrictions

    beginning of year $56,167,125 · end of year $56,859,079

  • 28 · Net assets with donor restrictions

    beginning of year $375,852,191 · end of year $488,473,178

Mission and programs · 2023

Mission

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 RESPONSIBLE CITIZENS WITH ZEAL TO ENRICH HUMAN LIFE.

Activities or mission (Part I)

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.

  • CATAWBA COLLEGE IS A PRIVATE, COEDUCATIONAL, AND RESIDENTIAL INSTITUTION OFFERING CAREER PREPARATION GROUNDED IN THE LIBERAL ARTS TRADITION. WE OFFER OVER 70 ACADEMIC FIELDS OF STUDY INCLUDING STRONG SCIENCE AND PRE-PROFESSIONAL PROGRAMS.

    Expenses $55,326,700 · Grants $26,537,728 · Revenue $46,518,982

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

Listed in Part VII

  • Robert B Arnold Jr

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Barbara L Marshall

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Ronald J Maccaroni

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Dr Randall S Crumpler

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • C Shuford Abernethy III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gregory M Alcorn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark G Alexander

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Darlene L Ball

    DIRECTOR (TERM'D 3.19.24)

    Total calculated
    $0
    Hours/week
    1

  • Gwin Carter Barr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gary Blabon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Daniel T Bross

    DIRECTOR (TERM'D 3.19.24)

    Total calculated
    $0
    Hours/week
    1

  • Sara D Cook

    DIRECTOR (TERM'D 3.19.24)

    Total calculated
    $0
    Hours/week
    1

  • James L Crumel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Thomas Stokes Dennard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bart Edge

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gerald Francis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • William M Graham

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Deborah Williams Messinger

    DIRECTOR (TERM'D 3.19.24)

    Total calculated
    $0
    Hours/week
    1

  • Marvin Moore

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Richard J Seiwell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Fred J Stanback Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lee B Syria

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Charles D Taylor Jr

    DIRECTOR (TERM'D 3.19.24)

    Total calculated
    $0
    Hours/week
    1

  • Bill Wagoner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mona L Wallace

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David P Nelson

    PRESIDENT

    Total calculated
    $390,002
    From this org
    $326,200
    From related orgs
    $0
    Other
    $63,802
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $326,200
    Bonus
    $0
    Other
    $0
    Deferred
    $55,229
    Nontaxable benefits
    $8,573
    Filer's total
    $390,002

  • Margaret K Dees

    VP OF DEVELOPMENT

    Total calculated
    $266,800
    From this org
    $225,867
    From related orgs
    $0
    Other
    $40,933
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $225,867
    Bonus
    $0
    Other
    $0
    Deferred
    $40,933
    Nontaxable benefits
    $0
    Filer's total
    $266,800

  • Sandra Quaye

    VP PF FINANCE AND ADMIN

    Total calculated
    $135,652
    From this org
    $126,500
    From related orgs
    $0
    Other
    $9,152
    Hours/week
    40

  • Monica Cowart

    EVP & PROVOST

    Total calculated
    $264,456
    From this org
    $244,900
    From related orgs
    $0
    Other
    $19,556
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $244,900
    Bonus
    $0
    Other
    $0
    Deferred
    $12,200
    Nontaxable benefits
    $7,356
    Filer's total
    $264,456

  • Lauren V Cox

    VP PF FINANCE AND ADMIN (TO 8/2/23)

    Total calculated
    $203,958
    From this org
    $182,686
    From related orgs
    $0
    Other
    $21,272
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,686
    Bonus
    $0
    Other
    $0
    Deferred
    $9,134
    Nontaxable benefits
    $12,138
    Filer's total
    $203,958

  • Lee Ball

    VP OF SUSTAINABILITY/EXEC DIR CNTR FOR THE ENVIRON

    Total calculated
    $191,787
    From this org
    $176,353
    From related orgs
    $0
    Other
    $15,434
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,353
    Bonus
    $0
    Other
    $0
    Deferred
    $8,631
    Nontaxable benefits
    $6,803
    Filer's total
    $191,787

  • Michelle P Caddigan

    VP OF ATHLETICS

    Total calculated
    $169,030
    From this org
    $147,639
    From related orgs
    $0
    Other
    $21,391
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,639
    Bonus
    $0
    Other
    $0
    Deferred
    $7,322
    Nontaxable benefits
    $14,069
    Filer's total
    $169,030

  • Imran G Chowdhury

    DEAL OF SCHOOL OF BUSINESS

    Total calculated
    $242,698
    From this org
    $221,583
    From related orgs
    $0
    Other
    $21,115
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $221,583
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $21,115
    Filer's total
    $242,698

  • John E Morrison

    EXECUTIVE DIRECTOR, CLEAN FUTURE NC CTR FOR ENVIRO

    Total calculated
    $164,093
    From this org
    $149,817
    From related orgs
    $0
    Other
    $14,276
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,817
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $14,276
    Filer's total
    $164,093

  • Cayce C Will

    CHIEF OF INFORMATION TECHNOLOGY

    Total calculated
    $173,171
    From this org
    $158,105
    From related orgs
    $0
    Other
    $15,066
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,105
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $15,066
    Filer's total
    $173,171

  • Constance L Rogers Lowery

    FORMER PROVOST

    Total calculated
    $161,431
    From this org
    $142,961
    From related orgs
    $0
    Other
    $18,470
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,961
    Bonus
    $0
    Other
    $0
    Deferred
    $10,722
    Nontaxable benefits
    $7,748
    Filer's total
    $161,431

  • Jared Tice

    FORMER DEAN OF STUDENTS

    Total calculated
    $148,063
    From this org
    $134,007
    From related orgs
    $0
    Other
    $14,056
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,007
    Bonus
    $0
    Other
    $0
    Deferred
    $6,700
    Nontaxable benefits
    $7,356
    Filer's total
    $148,063

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
  • 1a · Health or social club dues or initiation fees
  • 1a · Personal services (maid, chauffeur, chef)
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 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 CURRENT PRESIDENT, DAVID P. NELSON, HAS, AS A PART OF HIS CONTRACT, HOUSING, UTILITIES, INSURANCE, CUSTODIAL SERVICE ETC. PAID FOR BY THE COLLEGE. THE RESIDENCE WAS 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. THIS IS A NON-TAXABLE FRINGE BENEFIT. CLUB DUES ARE PAID ON BEHALF OF THE PRESIDENT, VP OF DEVELOPMENT AND ATHLETIC DIRECTOR. CLUB MEMBERSHIPS ARE USED FOR BUSINESS PURPOSES ONLY AND THEREFORE THE DUES HAVE BEEN TREATED AS A NONTAXABLE BENEFIT.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER TRUSTS (9)

    T · INVESTMENT · NC

  • CHARITABLE LEAD TRUST (1)

    T · INVESTMENT · NC

Provenance

Return type
form_990
Tax year
2023
Filed
15 April 2025
IRS schema version
2023v6.0
Source object
202531059349302358

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