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Nonprofiteer
← PRESBYTERIAN COLLEGE

Form 990 for tax year 2023

Filed by PRESBYTERIAN COLLEGE.

Totals

Total revenue
$67,870,455
Total expenses
$75,535,830
Contributions and grants received
$4,754,153
Grants paid
$27,694,155
Program service revenue
$59,065,367
Investment income
$3,925,538
Other revenue
$125,397
Total assets, end of year
$172,485,734
Total liabilities, end of year
$15,943,719
Net assets or fund balances, end of year
$156,542,015
Program services expenses (Part IX)
$67,662,959
Management and general expenses
$6,710,108
Fundraising expenses
$1,162,763
Program service expenses (Part III)
$67,662,959

Program services were 89.6% 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.

  • 1d · Related organizations

    $367,284

  • 1e · Government grants (contributions)

    $230,486

  • 1f · All other contributions, gifts and grants

    $4,156,383

  • 1g · Noncash contributions included above

    $1,243,618

  • 2a · Program service revenue: Tuition and Fees

    total $47,006,155 · related or exempt $47,006,155

  • 2b · Program service revenue: Room and Board

    total $9,640,218 · related or exempt $9,640,218

  • 2c · Program service revenue: Athletic Revenue

    total $1,211,400 · related or exempt $1,211,400

  • 2d · Program service revenue: Summer Conferences

    total $327,020 · related or exempt $327,020

  • 2e · Program service revenue: Spirit Store Sales

    total $147,762 · related or exempt $147,762

  • 2f · All other program service revenue

    total $732,812 · related or exempt $732,812 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $2,103,098 · excluded $2,103,098

  • 6a · Gross rents

    real property $87,819

  • 6b · Less rental expenses

    real property $2,417

  • 6c · Rental income or loss

    real property $85,402 · personal property $0

  • 6d · Net rental income or loss

    total $85,402 · excluded $85,402

  • 7a · Gross sales of assets other than inventory

    securities $7,200,391 · other assets $2,897,655

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

    securities $4,778,721 · other assets $3,496,885

  • 7c · Gain or loss

    securities $2,421,670 · other assets -$599,230

  • 7d · Net gain or loss

    total $1,822,440 · excluded $1,822,440

  • 8a · Fundraising events: gross income

    $58,995

  • 8b · Fundraising events: direct expenses

    $19,000

  • 8c · Net income from fundraising events

    total $39,995 · excluded $39,995

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $27,694,155 · program services $27,694,155

  • 5 · Compensation of officers, directors and key employees

    total $1,548,020 · program services $1,310,711 · management and general $176,777 · fundraising $60,532

  • 7 · Other salaries and wages

    total $16,258,751 · program services $14,004,219 · management and general $1,608,260 · fundraising $646,272

  • 8 · Pension plan contributions

    total $84,531 · program services $56,375 · management and general $25,522 · fundraising $2,634

  • 9 · Other employee benefits

    total $2,330,947 · program services $1,554,536 · management and general $703,779 · fundraising $72,632

  • 10 · Payroll taxes

    total $1,293,056 · program services $862,354 · management and general $390,410 · fundraising $40,292

  • 11b · Fees: legal

    total $74,975 · management and general $74,975

  • 11c · Fees: accounting

    total $214,103 · management and general $214,103

  • 11f · Fees: investment management

    total $409,694 · management and general $409,694

  • 11g · Fees: other

    total $2,198,978 · program services $1,800,800 · management and general $310,701 · fundraising $87,477

  • 12 · Advertising and promotion

    total $180,081 · program services $130,339 · management and general $43,411 · fundraising $6,331

  • 13 · Office expenses

    total $2,144,639 · program services $1,877,360 · management and general $221,814 · fundraising $45,465

  • 14 · Information technology

    total $792,340 · program services $309,749 · management and general $435,428 · fundraising $47,163

  • 16 · Occupancy

    total $7,659,754 · program services $6,533,129 · management and general $1,111,977 · fundraising $14,648

  • 17 · Travel

    total $2,300,468 · program services $2,276,391 · management and general $12,390 · fundraising $11,687

  • 20 · Interest

    total $194,998 · program services $194,998

  • 22 · Depreciation, depletion and amortization

    total $2,574,558 · program services $2,115,915 · management and general $457,779 · fundraising $864

  • 23 · Insurance

    total $908,999 · program services $840,736 · management and general $62,823 · fundraising $5,440

  • 24a · Other expenses: Membership & Dues

    total $394,087 · program services $313,032 · management and general $74,394 · fundraising $6,661

  • 24b · Other expenses: Repairs & Maintenance

    total $594,100 · program services $526,319 · management and general $66,643 · fundraising $1,138

  • 24c · Other expenses: Dining Hall & Food Charges

    total $4,321,749 · program services $4,229,585 · management and general $16,891 · fundraising $75,273

  • 24e · All other expenses

    total $1,362,847 · program services $1,032,256 · management and general $292,337 · fundraising $38,254

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,202,416 · end of year $1,248,004

  • 2 · Savings and temporary cash investments

    beginning of year $9,814,652 · end of year $5,762,962

  • 3 · Pledges and grants receivable

    beginning of year $7,762,348 · end of year $5,995,487

  • 4 · Accounts receivable

    beginning of year $1,510,203 · end of year $1,407,363

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 8 · Inventories for sale or use

    beginning of year $40,005 · end of year $37,775

  • 9 · Prepaid expenses and deferred charges

    beginning of year $589,416 · end of year $422,944

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

    $80,959,973

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

    $42,344,278

  • 10c · Land, buildings and equipment, net

    beginning of year $41,206,289 · end of year $38,615,695

  • 11 · Investments: publicly traded securities

    beginning of year $79,775,685 · end of year $75,564,606

  • 12 · Investments: other securities

    beginning of year $20,836,836 · end of year $37,383,375

  • 13 · Investments: program-related

    beginning of year $358,851 · end of year $242,920

  • 15 · Other assets

    beginning of year $10,520,274 · end of year $5,804,603

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,833,289 · end of year $4,695,213

  • 19 · Deferred revenue

    beginning of year $1,812,939 · end of year $1,959,997

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $5,858,349 · end of year $6,056,361

  • 25 · Other liabilities

    beginning of year $4,464,444 · end of year $3,232,148

  • 27 · Net assets without donor restrictions

    beginning of year $39,441,648 · end of year $35,667,359

  • 28 · Net assets with donor restrictions

    beginning of year $118,206,306 · end of year $120,874,656

Mission and programs · 2023

Mission

The compelling purpose of presbyterian college, as a church-related college, is to develop within the framework of Christian faith the mental, physical, moral, and spiritual capacities of each student in preparation for a lifetime of personal and vocational fulfillment and (continued on Schedule O)

Activities or mission (Part I)

AT PRESBYTERIAN COLLEGE, OUR PHILOSOPHY IS: OFFER A RIGOROUS EDUCATION WITH A BUILTIN SUPPORT NETWORK. PROFESSORS, STUDENTS, ADMINISTRATORS WE ALL WORK TOGETHER TO HELP EACH OTHER SUCCEED. WE WANT OUR STUDENTS TO BE ADVENTUROUS AND SUCCESSFUL; COMPETITIVE AND COMPASSIONATE. WE WORK AS A COMMUNITY, INSPIRING OUR STUDENTS TO LEARN, AND TO VALUE SERVICE ALONG THE WAY.

  • Presbyterian College is a private, residential, four-year liberal arts college. With small classes and faculty who want the best for students, our supportive community provides more than an exceptional liberal arts education. Presbyterian College empowers students to be servant leaders in their communities through challenging academics and a culture of honor and ethics. Presbyterian College has a Graduate School of Health Sciences which includes school of Pharmacy, Physician Assistant Program, and an Occupational Therapy Doctoral Program. Each professional program is designed to improve the health of South Carolinians and society in general by developing students with an unwavering ethical foundation who will positively impact the delivery of quality, equitable care; who will dedicate their lives to community service; and who will provide leadership in addressing the health care needs of diverse patient population.

    Expenses $67,662,959 · Grants $27,694,155 · Revenue $59,065,367

As filed on the 2023 return.

Listed in Part VII

  • EG Lassiter

    Board Vice Chair

    Total calculated
    $0
    Hours/week
    1.5

  • Louise Slater

    Board Secretary

    Total calculated
    $0
    Hours/week
    1.5

  • Ruth Roper

    Board Chair

    Total calculated
    $0
    Hours/week
    1.5

  • Ann Taylor Morgan

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Brad Bryant

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Brad Spearman

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Chad Prashad

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Danny Murphy

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Gregg Frierson

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Hartwell Dew

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Holbrook Raynal

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Jeri Parris-Perkins

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Jill Moylan

    Trustee (Part Year)

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Jimmy Sain

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • John Brearley

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • John Inman

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • John Jeselnik

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Lumus Byrd

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Michael Nicholson

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Nathan Senn

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Robin Boren

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Stan Reid

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Steve Smith

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Ted Pitts

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Tom Free

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Wes Nalley

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Whitney Harrison

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Will Kuhne

    Trustee (Part Year)

    Total calculated
    $0
    Hours/week
    1.5

  • Willie Cooper

    Trustee

    Total calculated
    $0
    Hours/week
    1.5

  • Anita Gustafson

    President

    Total calculated
    $126,515
    From this org
    $109,139
    From related orgs
    $0
    Other
    $17,376
    Hours/week
    37.5

  • Brandon Vinson

    VP - Enrollment Management

    Total calculated
    $0
    Hours/week
    37.5

  • Buz Wilcoxon

    Chaplain & Dean of Spiritual Life

    Total calculated
    $159,421
    From this org
    $81,846
    From related orgs
    $0
    Other
    $77,575
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $81,810
    Bonus
    $0
    Other
    $36
    Deferred
    $0
    Nontaxable benefits
    $77,575
    Filer's total
    $159,421

  • Dana Simmons

    Chief Marketing Officer

    Total calculated
    $119,938
    From this org
    $102,374
    From related orgs
    $0
    Other
    $17,564
    Hours/week
    37.5

  • Daniel Hall

    Interim VP - Finance & Administration

    Total calculated
    $0
    Hours/week
    37.5

  • Dee Nichols

    Athletic Director

    Total calculated
    $118,476
    From this org
    $94,364
    From related orgs
    $0
    Other
    $24,112
    Hours/week
    37.5

  • Drew Peterson

    Dean of Students

    Total calculated
    $112,468
    From this org
    $93,703
    From related orgs
    $0
    Other
    $18,765
    Hours/week
    37.5

  • Francis Schodowski

    VP - Advancement

    Total calculated
    $163,114
    From this org
    $134,870
    From related orgs
    $0
    Other
    $28,244
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $134,699
    Bonus
    $0
    Other
    $171
    Deferred
    $2,610
    Nontaxable benefits
    $25,634
    Filer's total
    $163,114

  • Kerry Pannell

    Provost & VP - Academic Affairs

    Total calculated
    $199,186
    From this org
    $186,816
    From related orgs
    $0
    Other
    $12,370
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $185,723
    Bonus
    $0
    Other
    $1,093
    Deferred
    $3,650
    Nontaxable benefits
    $8,720
    Filer's total
    $199,186

  • Leni Patterson

    Executive Director of Strategic Initiatives

    Total calculated
    $129,028
    From this org
    $108,753
    From related orgs
    $0
    Other
    $20,275
    Hours/week
    37.5

  • Rob Acunto

    Athletic Director (Part Year)

    Total calculated
    $116,061
    From this org
    $99,228
    From related orgs
    $0
    Other
    $16,833
    Hours/week
    37.5

  • Selena Blair

    VP - Justice, Equity, Diversity, & Inclusion

    Total calculated
    $111,169
    From this org
    $93,265
    From related orgs
    $0
    Other
    $17,904
    Hours/week
    37.5

  • Amanda Stevenson-Cali

    Program Director - Physician Assistant Program

    Total calculated
    $163,409
    From this org
    $128,556
    From related orgs
    $0
    Other
    $34,853
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $128,445
    Bonus
    $0
    Other
    $111
    Deferred
    $5,470
    Nontaxable benefits
    $29,383
    Filer's total
    $163,409

  • Cindy Erb

    Interim Program Director - Occupational Therapy Doctoral Program (Part Year)

    Total calculated
    $144,123
    From this org
    $131,283
    From related orgs
    $0
    Other
    $12,840
    Hours/week
    37.5

  • Giuseppe Gumina

    Dean - School of Pharmacy

    Total calculated
    $166,190
    From this org
    $147,277
    From related orgs
    $0
    Other
    $18,913
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $147,018
    Bonus
    $0
    Other
    $259
    Deferred
    $4,460
    Nontaxable benefits
    $14,453
    Filer's total
    $166,190

  • Kayce Shealy

    Associate Dean for Academic Affairs - Pharmacy School

    Total calculated
    $184,948
    From this org
    $156,464
    From related orgs
    $0
    Other
    $28,484
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $156,334
    Bonus
    $0
    Other
    $130
    Deferred
    $6,365
    Nontaxable benefits
    $22,119
    Filer's total
    $184,948

  • Steve Englehart

    Head Football Coach

    Total calculated
    $142,446
    From this org
    $130,682
    From related orgs
    $0
    Other
    $11,764
    Hours/week
    37.5

  • Matthew Vandenberg

    Former President

    Total calculated
    $199,459
    From this org
    $167,037
    From related orgs
    $0
    Other
    $32,422
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $166,947
    Bonus
    $0
    Other
    $90
    Deferred
    $7,290
    Nontaxable benefits
    $25,132
    Filer's total
    $199,459

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
  • 2 · Substantiation required before reimbursing expenses
  • 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)

Schedule J, Part I, Line 1a Housing allowance or residence for personal use
As a condition of employment, and as a convenience to the College, the President is provided a home on College grounds to host business functions for the College. The home is provided as a nontaxable benefit to the President. Pursuant to Internal Revenue Code Section 107, ministerial housing allowances are provided for qualifying ministerial employees. This is not included in taxable compensation. Buz Wilcoxon met the qualifications for and received a ministerial housing allowance during the tax year.

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.

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 Trust (1)

    Trust · SC · controlled entity

    Directly controlled by Presbyterian College

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202511359349303926

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