Form 990 for tax year 2022

Filed by CENTENARY COLLEGE OF LOUISIANA.

Totals

Total revenue: $28,697,031
Total expenses: $38,309,272
Contributions and grants received: $6,449,468
Grants paid: $13,391,454
Program service revenue: $20,113,173
Investment income: -$281,046
Other revenue: $2,415,436
Total assets, end of year: $191,467,216
Total liabilities, end of year: $29,982,502
Net assets or fund balances, end of year: $161,484,714
Program services expenses (Part IX): $31,464,345
Management and general expenses: $5,890,573
Fundraising expenses: $954,354
Program service expenses (Part III): $31,464,345

Program services were 82.1% 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)

$202,559
1f · All other contributions, gifts and grants

$6,246,909
1g · Noncash contributions included above

$558,385
2a · Program service revenue: Tuition and Fees

total $20,113,173 · related or exempt $20,113,173
2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
3 · Investment income

total $2,196,042 · unrelated business -$146,023 · excluded $2,342,065
5 · Royalties

total $642,133 · unrelated business $154,343 · excluded $487,790
6a · Gross rents

real property $136,743
6b · Less rental expenses

real property $123,098
6c · Rental income or loss

real property $13,645 · personal property $0
6d · Net rental income or loss

total $13,645 · excluded $13,645
7a · Gross sales of assets other than inventory

securities $18,226,906
7b · Less cost or other basis and sales expenses

securities $20,703,994
7c · Gain or loss

securities -$2,477,088 · other assets $0
7d · Net gain or loss

total -$2,477,088 · excluded -$2,477,088
10a · Gross sales of inventory

$6,095,779
10b · Cost of goods sold

$4,373,386
10c · Net income from sales of inventory

total $1,722,393 · related or exempt $1,722,393
11a · Other revenue: Miscellaneous Revenue

total $37,265 · excluded $37,265
11d · All other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11e · Other revenue, total

$37,265

Functional expenses

Part IX, the statement of functional expenses.

2 · Grants to domestic individuals

total $13,391,454 · program services $13,391,454
5 · Compensation of officers, directors and key employees

total $989,857 · program services $717,943 · management and general $234,002 · fundraising $37,912
6 · Compensation of disqualified persons

total $140,959 · program services $102,238 · management and general $33,322 · fundraising $5,399
7 · Other salaries and wages

total $9,544,867 · program services $6,922,892 · management and general $2,256,407 · fundraising $365,568
8 · Pension plan contributions

total $389,363 · program services $282,405 · management and general $92,045 · fundraising $14,913
9 · Other employee benefits

total $992,630 · program services $719,954 · management and general $234,658 · fundraising $38,018
10 · Payroll taxes

total $713,431 · program services $517,452 · management and general $168,655 · fundraising $27,324
11b · Fees: legal

total $41,279 · program services $29,940 · management and general $9,758 · fundraising $1,581
11c · Fees: accounting

total $149,631 · program services $108,527 · management and general $35,373 · fundraising $5,731
11g · Fees: other

total $3,040,122 · program services $2,205,000 · management and general $718,685 · fundraising $116,437
12 · Advertising and promotion

total $189,467 · program services $137,420 · management and general $44,790 · fundraising $7,257
13 · Office expenses

total $712,084 · program services $516,474 · management and general $168,337 · fundraising $27,273
14 · Information technology

total $292,339 · program services $212,033 · management and general $69,109 · fundraising $11,197
16 · Occupancy

total $792,810 · program services $575,025 · management and general $187,420 · fundraising $30,365
17 · Travel

total $1,729,102 · program services $1,254,117 · management and general $408,760 · fundraising $66,225
20 · Interest

total $946,746 · program services $686,675 · management and general $223,811 · fundraising $36,260
22 · Depreciation, depletion and amortization

total $2,031,559 · program services $1,473,490 · management and general $480,260 · fundraising $77,809
23 · Insurance

total $679,178 · program services $492,608 · management and general $160,558 · fundraising $26,012
24a · Other expenses: Equipment Rental, Repairs & Maintenance

total $270,515 · program services $196,204 · management and general $63,950 · fundraising $10,361
24b · Other expenses: Dues & Memberships

total $185,350 · program services $134,434 · management and general $43,817 · fundraising $7,099
24c · Other expenses: Taxes & Licenses

total $17,948 · program services $13,018 · management and general $4,243 · fundraising $687
24d · Other expenses: Tuition Remission

total $176,007 · program services $127,658 · management and general $41,608 · fundraising $6,741
24e · All other expenses

total $892,574 · program services $647,384 · management and general $211,005 · fundraising $34,185

Balance sheet

Part X, book values.

2 · Savings and temporary cash investments

beginning of year $1,738,572 · end of year $4,815,615
3 · Pledges and grants receivable

beginning of year $15,530,690 · end of year $16,412,773
4 · Accounts receivable

beginning of year $5,012,060 · end of year $1,377,560
5 · Loans and receivables from officers and key people

end of year $0
6 · Loans and receivables from disqualified persons

end of year $0
7 · Other notes and loans receivable

beginning of year $241,834 · end of year $31,666
9 · Prepaid expenses and deferred charges

beginning of year $6,034,977 · end of year $1,134,977
10a · Land, buildings and equipment: cost or other basis

$97,305,992
10b · Land, buildings and equipment: accumulated depreciation

$62,310,239
10c · Land, buildings and equipment, net

beginning of year $32,850,583 · end of year $34,995,753
11 · Investments: publicly traded securities

beginning of year $95,023,250 · end of year $101,304,821
12 · Investments: other securities

beginning of year $686 · end of year $686
13 · Investments: program-related

beginning of year $0
15 · Other assets

beginning of year $30,417,968 · end of year $31,393,365
17 · Accounts payable and accrued expenses

beginning of year $2,679,817 · end of year $3,648,312
18 · Grants payable

beginning of year $367,207 · end of year $171,993
19 · Deferred revenue

beginning of year $6,822 · end of year $10,662
20 · Tax-exempt bond liabilities

beginning of year $0 · end of year $0
22 · Loans and payables to officers and key people

end of year $0
23 · Secured mortgages and notes payable

beginning of year $13,555,585 · end of year $13,253,188
25 · Other liabilities

beginning of year $10,054,930 · end of year $12,898,347
27 · Net assets without donor restrictions

beginning of year $6,936,444 · end of year $2,302,631
28 · Net assets with donor restrictions

beginning of year $153,249,815 · end of year $159,182,083

Mission and programs · 2022

Mission

See Schedule O

Activities or mission (Part I)

PROVIDE UNDERGRADUATE AND GRADUATE EDUCATION IN A VARIETY OF PROGRAMS TO APPROXIMATELY 503 UNDERGRADUATE AND 27 GRADUATE STUDENTS.

Centenary College is a selective, residential, Tier One National Liberal Arts College located in Shreveport, Louisiana. Founded in 1825, it is the oldest chartered liberal arts college west of the Mississippi. Centenary's faculty and staff prepare students to engage global challenges through rigorous coursework, service opportunities, and intercultural experiences both at home and abroad. Centenary ranks #1 in the nation among baccalaureate colleges for sending students to study abroad, beginning with the Centenary in Paris program that sends all first-year students to Paris, France to begin their college careers. 94% of Centenary students who apply to medical school are accepted, along with 90% of those who apply to law school. Centenary also expands students' academic horizons with opportunities like a 3/2 program in engineering and guaranteed interview/expedited admission agreements with 10 different graduate/professional programs in medicine, nursing, allied health, law, and theology. Centenary offers more than 55 student clubs and organizations, NCAA Division III athletics, cultural events, lectures, service projects, leadership programs, and activities on a beautiful campus that students describe as "welcoming and spirited." Regardless of their chosen field, Centenary graduates draw on their superior preparation and experiences to grow bold, thoughtful, confident, kind, strong, and close.

Expenses $31,464,345 · Grants $13,391,454 · Revenue $21,835,566

As filed on the 2022 return.

Listed in Part VII

Archer Frierson

Chairman

Total calculated

$0

Hours/week

1
C Ellis Brown Jr

Vice Chairman

Total calculated

$0

Hours/week

1
Christopher L Holoman

Centenary President

Total calculated

$340,069

From this org

$310,580

From related orgs

$0

Other

$29,489

Hours/week

40

Schedule J breakdown matched by us

Base

$251,939

Bonus

$25,000

Other

$33,641

Deferred

$13,330

Nontaxable benefits

$16,159

Filer's total

$340,069
George D Nelson Jr

Secretary

Total calculated

$0

Hours/week

1
Ross P Barrett

Treasurer

Total calculated

$0

Hours/week

1
Beth B Deville

Trustee

Total calculated

$0

Hours/week

1
Carol B Spencer

Trustee

Total calculated

$0

Hours/week

1
Clinton Rasberry

Trustee

Total calculated

$0

Hours/week

1
Edward J Crawford III

Trustee

Total calculated

$0

Hours/week

1
Ian McElroy

Trustee

Total calculated

$0

Hours/week

1
Imad Anbouba

Trustee

Total calculated

$0

Hours/week

1
Jerry Montgomery

Trustee

Total calculated

$0

Hours/week

1
John E Atkins

Trustee

Total calculated

$0

Hours/week

1
Jon Q Peterson

Trustee

Total calculated

$0

Hours/week

1
Lee McKinzie

Trustee

Total calculated

$0

Hours/week

1
Lennis S Elston

Trustee

Total calculated

$0

Hours/week

1
Lucie Thornton

Trustee

Total calculated

$0

Hours/week

1
Mark D Eldredge

Trustee

Total calculated

$0

Hours/week

1
Marty Vaughan

Trustee

Total calculated

$0

Hours/week

1
Melva K Wallace

Trustee

Total calculated

$0

Hours/week

1
Michael Mann

Trustee

Total calculated

$0

Hours/week

1
Oliver Jenkins

Trustee

Total calculated

$0

Hours/week

1
Sarah E Collier

Trustee

Total calculated

$0

Hours/week

1
Stafford Comegys

Trustee

Total calculated

$0

Hours/week

1
Terry E Moore

Trustee

Total calculated

$0

Hours/week

1
Thomas E McElroy

Trustee

Total calculated

$0

Hours/week

1
William H Broyles

Trustee

Total calculated

$0

Hours/week

1
Fred J Landry Jr

VP for Development

Total calculated

$154,525

From this org

$131,043

From related orgs

$0

Other

$23,482

Hours/week

40

Schedule J breakdown matched by us

Base

$128,646

Bonus

$0

Other

$2,397

Deferred

$6,763

Nontaxable benefits

$16,719

Filer's total

$154,525
Karen E Soul

Provost & Dean of the College

Total calculated

$186,641

From this org

$161,668

From related orgs

$0

Other

$24,973

Hours/week

40

Schedule J breakdown matched by us

Base

$160,883

Bonus

$0

Other

$785

Deferred

$8,374

Nontaxable benefits

$16,599

Filer's total

$186,641
L Calhoun Allen III

VP for Enrollment & Marketing

Total calculated

$146,417

From this org

$127,434

From related orgs

$0

Other

$18,983

Hours/week

40
Robert S Blue

VP of Finance & Admin

Total calculated

$178,518

From this org

$165,379

From related orgs

$0

Other

$13,139

Hours/week

40

Schedule J breakdown matched by us

Base

$163,193

Bonus

$0

Other

$2,186

Deferred

$8,323

Nontaxable benefits

$4,816

Filer's total

$178,518
Barbara Davis

Dean, School of Business

Total calculated

$142,567

From this org

$120,136

From related orgs

$0

Other

$22,431

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 · First-class or charter travel
1a · Travel for companions
1a · Housing allowance or residence for personal use
1a · Health or social club dues or initiation fees
1a · Personal services (maid, chauffeur, chef)
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
7 · Other non-fixed payments

Answered no

1b · Written policy on the line-1a 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
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a First-class or charter travel: THE ORGANIZATION PROVIDES BENEFITS AS INDICATED IN LINE 1A TO THE ORGANIZATION'S PRESIDENT. ANY NON-BUSINESS OR PERSONAL PORTION OF THE BENEFITS PROVIDED HAS BEEN INCLUDED IN THE RECIPIENT'S FORM W-2 AS TAXABLE COMPENSATION.
Schedule J, Part I, Line 1b Written policy regarding payment or reimbursement of expenses: THE COLLEGE DOES NOT REIMBURSE FOR FIRST-CLASS TRAVEL. ON AN INFREQUENT BASIS, COLLEGE EMPLOYEES MAY TRAVEL WITH A BOARD OF TRUSTEE MEMBER ON A CHARTER (OR PRIVATELY-OWNED) PLANE ON COLLEGE BUSINESS. SUCH TRAVEL WOULD TYPICALLY INCLUDE THE PRESIDENT OF THE COLLEGE AND BE AUTHORIZED BY THAT PERSON. HOUSING ALLOWANCES ARE PROVIDED BY CONTRACT TO THE COLLEGE PRESIDENT IN LIEU OF COLLEGE-PROVIDED HOUSING. IN ADDITION, UNDER INTERNAL REVENUE SERVICE RULES, COLLEGE CLERGY MAY MAKE HOUSING ALLOWANCE ELECTIONS TO ALLOCATE A PORTION OF THEIR SALARY TO SUCH AN ALLOWANCE. PROVISION AND PAYMENT OF THESE BENEFITS ARE OUTLINED IN EACH INDIVIDUAL'S EMPLOYMENT CONTRACT.
Schedule J, Part I, Line 7 Non-fixed payments: THE GOVERNANCE COMMITTEE MEETS WITH THE PRESIDENT ANNUALLY IN THE MONTH OF AUGUST TO ASSESS THE PRESIDENT'S ANNUAL PERFORMANCE. AFTER DELIBERATION IN EXECUTIVE SESSION, THE COMMITTEE DETERMINES HIS BONUS AND ANY INCREASE TO HIS ANNUAL SALARY.

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.

LOUISIANA ANNUAL CONFERENCE OF THE UMC

501(c)(3) · CHURCH · LA

Directly controlled by NA

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

YONCOPIN PROPERTIES LLC

REAL ESTATE · LA · income $135,593 · assets -$102,487

Directly controlled by CENTENARY

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

CENTENARY SIF LP

Excluded · INVESTMENTS · DE · 99.99% owned · share of income $2,689,978 · share of assets $83,781,567

Directly controlled by CENTENARY

Related corporations and trusts

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

CHARITABLE LEAD TRUSTS (12)

Trust · CHARITABLE TRUST · TX

Directly controlled by NA

Provenance

Return type: form_990
Tax year: 2022
Filed: 15 May 2024
IRS schema version: 2022v5.0
Source object: 202421369349307497

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