Civic Intelligence

Catawba College

990 • Fiscal year 2016 • EIN 56-0530251

Jun 01, 2015 to May 31, 2016 • Filed on Apr 12, 2017

2300 W Innes StreetSalisbury, NC 28144

(704) 637-4463

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

40th percentile

0.22x

Higher debt load relative to assets than 40% of similar nonprofits.

2016 filings • NTEE B • $100M-$250M nonprofits • Source year 2016

Liabilities / Revenue

46th percentile

0.64x

Higher debt load relative to revenue than 46% of similar nonprofits.

2016 filings • NTEE B • $100M-$250M nonprofits • Source year 2016

Net Margin

15th percentile

-11%

Higher net margin than 15% of similar nonprofits.

2016 filings • NTEE B • $100M-$250M nonprofits • Source year 2016

Top Officer Pay

36th percentile

$363,913

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Asset Growth

23rd percentile

-3.0%

Faster asset growth than 23% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Revenue Growth

10th percentile

-28%

Faster revenue growth than 10% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Assets

Down

$134,331,088

Down $4,123,365 (-3.0%) from 2015

Net Assets

Down

$104,465,651

Down $5,506,698 (-5.0%) from 2015

Liabilities

Up

$29,865,437

Up $1,383,333 (+4.9%) from 2015

Revenue

Down

$46,828,695

Down $17,841,330 (-28%) from 2015

Expenses

Up

$51,756,576

Up $4,527,466 (+9.6%) from 2015

Net Income

Down

-$4,927,881

Down $22,368,796 (-128%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0B$500M$0Assets 2011: $111,644,818Liabilities 2011: $34,849,160Net Assets 2011: $76,795,6582011Assets 2012: $109,380,675Liabilities 2012: $33,861,032Net Assets 2012: $75,519,6432012Assets 2013: $114,993,967Liabilities 2013: $31,557,249Net Assets 2013: $83,436,7182013Assets 2014: $122,284,523Liabilities 2014: $30,471,557Net Assets 2014: $91,812,9662014Assets 2015: $138,454,453Liabilities 2015: $28,482,104Net Assets 2015: $109,972,3492015Assets 2016: $134,331,088Liabilities 2016: $29,865,437Net Assets 2016: $104,465,6512016Assets 2017: $140,674,305Liabilities 2017: $29,060,242Net Assets 2017: $111,614,0632017Assets 2018: $150,476,316Liabilities 2018: $28,130,194Net Assets 2018: $122,346,1222018Assets 2019: $165,328,150Liabilities 2019: $26,396,086Net Assets 2019: $138,932,0642019Assets 2020: $180,170,732Liabilities 2020: $31,239,781Net Assets 2020: $148,930,9512020Assets 2021: $214,355,781Liabilities 2021: $12,334,515Net Assets 2021: $202,021,2662021Assets 2022: $404,243,208Liabilities 2022: $6,647,493Net Assets 2022: $397,595,7152022Assets 2023: $442,162,950Liabilities 2023: $10,143,634Net Assets 2023: $432,019,3162023Assets 2024: $557,500,506Liabilities 2024: $12,168,249Net Assets 2024: $545,332,2572024Assets 2025: $833,178,617Liabilities 2025: $14,697,620Net Assets 2025: $818,480,9972025

Highlighted filing

2016

Assets$134,331,088
Liabilities$29,865,437
Net Assets$104,465,651

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400M$300M$200M$100M$0-$100MExpenses 2011: $41,417,1492011Expenses 2012: $41,955,5392012Expenses 2013: $42,104,9902013Revenue 2014: $50,074,131Expenses 2014: $46,433,198Net Income 2014: $3,640,9332014Revenue 2015: $64,670,025Expenses 2015: $47,229,110Net Income 2015: $17,440,9152015Revenue 2016: $46,828,695Expenses 2016: $51,756,576Net Income 2016: -$4,927,8812016Revenue 2017: $55,931,851Expenses 2017: $53,499,783Net Income 2017: $2,432,0682017Revenue 2018: $64,281,199Expenses 2018: $57,693,468Net Income 2018: $6,587,7312018Revenue 2019: $75,906,143Expenses 2019: $59,206,506Net Income 2019: $16,699,6372019Revenue 2020: $66,906,876Expenses 2020: $59,922,353Net Income 2020: $6,984,5232020Revenue 2021: $93,252,723Expenses 2021: $57,550,510Net Income 2021: $35,702,2132021Revenue 2022: $275,797,439Expenses 2022: $61,529,338Net Income 2022: $214,268,1012022Revenue 2023: $98,707,113Expenses 2023: $67,931,220Net Income 2023: $30,775,8932023Revenue 2024: $119,840,475Expenses 2024: $78,537,233Net Income 2024: $41,303,2422024Revenue 2025: $310,506,126Expenses 2025: $95,170,917Net Income 2025: $215,335,2092025

Highlighted filing

2016

Revenue$46,828,695
Expenses$51,756,576
Net Income-$4,927,881
Jump To
Filing Snapshot
Filing Period
Jun 1, 2015 to May 31, 2016
Signed
Apr 12, 2017
Return Version
2015v3.0
Gross Receipts
$48,152,627
Mission and Program Overview

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.

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$56,448,972$58,768,839▲ $2,319,867
Investments Other Securities$46,690,844$46,611,358▼ $79,486
Savings and Temporary Cash Investments$9,507,562$9,168,428▼ $339,134
Cash and Non-Interest-Bearing Accounts$14,249,248$8,131,971▼ $6,117,277
Pledges and Grants Receivable$2,710,115$2,412,276▼ $297,839
Accounts Receivable$1,147,945$1,108,838▼ $39,107
Prepaid Expenses and Deferred Charges$253,955$202,013▼ $51,942
Investments Program Related$106,199$106,199→ $0
Inventories for Sale or Use$69,164$70,336▲ $1,172
Total Assets$138,454,453$134,331,088▼ $4,123,365
Other Assets Total$7,270,449$7,750,830▲ $480,381
Liabilities
Mortgage Notes Payable Secured by Investment Property$20,000,000$19,159,722▼ $840,278
Other Liabilities$5,030,940$6,132,535▲ $1,101,595
Accounts Payable and Accrued Expenses$1,742,598$2,540,918▲ $798,320
Deferred Revenue$1,708,566$2,032,262▲ $323,696
Total Liabilities$28,482,104$29,865,437▲ $1,383,333
Net Assets / Fund Balance
Permanently Rstr Net Assets$46,506,415$47,486,967▲ $980,552
Temporarily Rstr Net Assets$38,316,640$29,579,923▼ $8,736,717
Unrestricted Net Assets$25,149,294$27,398,761▲ $2,249,467
Total Net Assets Fund Balance$109,972,349$104,465,651▼ $5,506,698
Total Liabilities and Net Assets / Fund Balance$138,454,453$134,331,088▼ $4,123,365

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$41,400,653$40,827,209$82,227,862
Equipment$14,829,713$14,903,358$29,733,071
Land$2,489,723-$2,489,723
Other Land Buildings$48,750-$48,750
Other Assets Org$562,617--
Other Securities$110,718--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$56,818$1,018▲ $532-$56,557
2014$53,348$1,128▲ $4,091-$56,818
2013$48,238$748▲ $6,302-$53,348
2012$42,329$179▲ $6,442-$48,238
2011$40,975$1,074▲ $280-$42,329
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brien LewisPresident of The CollegeFT$289,394$74,519$363,913
Nelson a Murphyvice President of FinanceFT$143,458$31,561$175,019
Larry W LeckonbyAthletic DirectorFT$133,283$34,320$167,603
Cynthia L BarrVice President of AdmissionsFT$133,206$34,300$167,506
J Michael BitzerProvostFT$128,246$33,023$161,269
Pamela ThompsonProfessorFT$119,723$30,829$150,552
Racquel R IngramDirector of NursingFT$109,416$28,174$137,590
Stephen HiattProfessorFT$105,198$27,089$132,287
Rex A OteyVP of DevelopmentFT$105,075$27,057$132,132
Kenneth ClappSr. Vice PresidentFT$100,020$31,006$131,026
JM WilsonProfessorFT$103,689$26,699$130,388

Highest Paid Contractors

ContractorServicesLocationCompensation
Chartwells Dining ServicesDining Services3 International Drive, Rye Brook, NY 10573$1,921,931
Catawba Green Step Solar LLCSolar Project301 N Main Street, Salisbury, NC 28144$992,100
Duke Energy CorporationTransformersPO Box 601297, Charlotte, NC 28260$965,530
Data Network Solutions IncSoftware and Software Support629 Lake Tide Drive, Chapin, SC 29036$524,969
Follett Higher Education GroupBookstore Operations3146 Solution Center, Chicago, IL 60677$332,852
Revenue and Support

Revenue Composition

Contributions and Grants
$5,260,438
Program Service Revenue
$39,148,341
Investment Income
$1,243,132
Other Revenue
$1,176,784
All Other Contributions
$4,976,781
Change in Net Assets
$-4,927,881

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded16$978,406Fair Market Value
Total Noncash Contributions16$978,406-

Audited Revenue Reconciliation

Revenue per Audited Statements
$45,585,563
Revenue Not Reported on Financial Statements
$1,243,132
Revenue Not Reported on Form 990
$-18,135,259
Other Revenue Adjustments
$1,243,132
Total Revenue per Audited Statements
$27,450,304
Total Revenue per Form 990
$46,828,695
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$18,910,299
Grants and Similar Amounts Paid$18,135,259
Other Expenses$14,711,018
Total Fundraising Expense$781,637
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$18,135,259--$18,135,259
Other Salaries and Wages$10,803,787$2,722,844$272,421$13,799,052
All Other Expenses$3,582,240$1,507,527$26,928$5,116,695
Other Employee Benefits$1,876,201$650,886$88,530$2,615,617
Depreciation Depletion$2,080,355$406,901-$2,487,256
Fees for Services Other$970,362$689,703$26,191$1,686,256
Occupancy$1,062,904$375,055$2,843$1,440,802
Current Officers, Directors, Trustees, and Key Employees$226,173$678,519$226,173$1,130,865
Payroll Taxes$775,881$230,088$35,563$1,041,532
Travel$757,359$99,830$45,220$902,409
Interest$609,920$119,295-$729,215
Insurance$21,779$334,411$848$357,038
Pension Plan Contributions$235,681$78,599$8,953$323,233
Office Expenses$44,724-$44,751$89,475
Other Expenses$46,398$318,535$3,096$46,398
Conferences and Meetings--$120$120
Total Functional Expenses$42,635,736$8,339,203$781,637$51,756,576

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$51,756,576
Expenses per Audited Statements$33,621,317
Total Expenses per Audited Statements$33,621,317
Expenses Not Reported on Financial Statements$18,135,259
Other Expense Adjustments$18,135,259
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
US Govt Loan Funds Refundable$2,643,082
Liability Under Trust Agreements$1,408,734
Asset Retirement Obligation$1,239,394
Annuity Payment Liability$439,773
capital lease obligations$203,169
Deposits Held for Others$198,383
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 2

jim dayvault and richard seiwell have a family relationship. Junie Michael and Mona Wallace have a business relationship.

Form 990, Part VI, Section B, line 11

a public discloSure copy of the form 990 will be provided, prior to filing, to the board of trustees to protect the donor's privacy.

Form 990, Part VI, Section B, line 12C

conflict of interest statements are signed by each member of the board of trustees on an annual basis. in the event of a potential conflict during the year, that member will refrain from participating in the consideration of the proposed transaction in question. this person will not vote on or take any position for or against the proposed transaction.

Form 990, Part VI, Section B, line 15

The college utilizes a "committee of the presidency of the board of trustees" that evaluates the president on predetermined goals and the assessment of positive achievementS. THE COMMITTEE APPROVES AND determines the presidential salary and salary increases. The president reviews the positions of the senior vice president of development, vice president of admissions, provost and the vice president of finance to establish salary levels based on performance. ALL DISCUSSIONS ARE DOCUMENTED IN THE MINUTES OF THE MEETING. Catawba uses information from North Carolina Independent Colleges and Universities (NCICU) and The Cooper Standard Salary Resource to determine market comparables.

Form 990, Part VI, Section C, line 19

the organization's governing documents, conflict of interest policy and the financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Catawba College
EIN
56-0530251
Phone
7046374463
Address
2300 W Innes Street, Salisbury, NC 28144

Signing Officer

Name
Nelson a Murphy
Title
VP of Business and Finance
Phone
7046374463
Signed
2017-04-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brien Lewis
Formed
1925
Legal Domicile
Nc
Voting Board Members
34
Independent Board Members
34
Employees
930
Volunteers
34

Preparer

Firm
Cherry Bekaert Llp
Address
1111 Metropolitan Ave Ste 1000, Charlotte, NC 28204
Preparer
Janice A Ratica
Phone
7043771678
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

Change in beneficial interests in trusts -56,754. Change in liability under trust agreements 160,743.

Financial Statement Notes

Part V, Line 4:

endowment funds are used to further the higher education cause.

Part X, Line 2:

The College is exempt from federal and state income taxation under the provisions of Section 501(c)(3) of the Internal Revenue Code ("IRC"). In accordance with IRC regulations, the College is taxed on unrelated business income, which consists of earnings from activities not related to the exempt purpose of the College. The College accounts for tax uncertainties based on a more likely than not recognition threshold whereby tax benefits are only recognized when the College believes that they have a greater than 50% likelihood of being sustained upon examination by taxing authorities. The College has evaluated all tax positions and determined that it has no uncertain income tax positions as of May 31, 2016 and 2015.

Part XI, Line 2D - Other Adjustments:

Scholarships shown net of tuition revenue -18,135,259.

Part XI, Line 4B - Other Adjustments:

Realized gain on investments 337,175. Dividend and interest income 905,957.

Part XII, Line 4B - Other Adjustments:

Scholarships shown net of tuition revenue 18,135,259.

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IRS990/Form990PartVIISectionAGrp/PersonNm0C Shuford Abernethy
IRS990/Form990PartVIISectionAGrp/PersonNm1Barbara Kershner Daniel
IRS990/Form990PartVIISectionAGrp/PersonNm2Gregory M Alcorn
IRS990/Form990PartVIISectionAGrp/PersonNm3Albert Aymer
IRS990/Form990PartVIISectionAGrp/PersonNm4James C Dayvault
IRS990/Form990PartVIISectionAGrp/PersonNm5Tom E Burdette
IRS990/Form990PartVIISectionAGrp/PersonNm6Robert B Arnold
IRS990/Form990PartVIISectionAGrp/PersonNm7Michael S Bauk
IRS990/Form990PartVIISectionAGrp/PersonNm8Daniel T Bross
IRS990/Form990PartVIISectionAGrp/PersonNm9Edward A Brown
IRS990/Form990PartVIISectionAGrp/PersonNm10Larry Cloninger
IRS990/Form990PartVIISectionAGrp/PersonNm11Sara D Cook
IRS990/Form990PartVIISectionAGrp/PersonNm12Nancy F Councill
IRS990/Form990PartVIISectionAGrp/PersonNm13Joseph R Gorman
IRS990/Form990PartVIISectionAGrp/PersonNm14Dolan Hubbard
IRS990/Form990PartVIISectionAGrp/PersonNm15Charles G Potts
IRS990/Form990PartVIISectionAGrp/PersonNm16Ralph A Ketner
IRS990/Form990PartVIISectionAGrp/PersonNm17Julian H Robertson Jr
IRS990/Form990PartVIISectionAGrp/PersonNm18Barry D Leonard
IRS990/Form990PartVIISectionAGrp/PersonNm19Barbara Marshall
IRS990/Form990PartVIISectionAGrp/PersonNm20Richard J Seiwell
IRS990/Form990PartVIISectionAGrp/PersonNm21Wade H Shuford Jr
IRS990/Form990PartVIISectionAGrp/PersonNm22Ronald L Smith
IRS990/Form990PartVIISectionAGrp/PersonNm23CA Michael III
IRS990/Form990PartVIISectionAGrp/PersonNm24Fred J Stanback Jr
IRS990/Form990PartVIISectionAGrp/PersonNm25Samuel A Penninger Jr
IRS990/Form990PartVIISectionAGrp/PersonNm26Benjamin B Peeler MD
IRS990/Form990PartVIISectionAGrp/PersonNm27Charles Taylor
IRS990/Form990PartVIISectionAGrp/PersonNm28Mona Lisa Wallace
IRS990/Form990PartVIISectionAGrp/PersonNm29Martha K West
IRS990/Form990PartVIISectionAGrp/PersonNm30Darlene L Ball
IRS990/Form990PartVIISectionAGrp/PersonNm31William M Graham
IRS990/Form990PartVIISectionAGrp/PersonNm32Deborah W Messinger
IRS990/Form990PartVIISectionAGrp/PersonNm33Sally Whitney
IRS990/Form990PartVIISectionAGrp/PersonNm34Brien Lewis
IRS990/Form990PartVIISectionAGrp/PersonNm35Cynthia L Barr
IRS990/Form990PartVIISectionAGrp/PersonNm36NELSON A MURPHY
IRS990/Form990PartVIISectionAGrp/PersonNm37Kenneth Clapp
IRS990/Form990PartVIISectionAGrp/PersonNm38J Michael Bitzer
IRS990/Form990PartVIISectionAGrp/PersonNm39Rex A Otey
IRS990/Form990PartVIISectionAGrp/PersonNm40Larry W Leckonby
IRS990/Form990PartVIISectionAGrp/PersonNm41Racquel R Ingram
IRS990/Form990PartVIISectionAGrp/PersonNm42Pamela Thompson
IRS990/Form990PartVIISectionAGrp/PersonNm43Stephen Hiatt
IRS990/Form990PartVIISectionAGrp/PersonNm44JM Wilson
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$833$14.7$818$311$95.2$215
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$558$12.2$545$120$78.5$41.3
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$442$10.1$432$98.7$67.9$30.8
2022Detailed filing. Detailed filing data is available for this year.$404$6.65$398$276$61.5$214
2021Detailed filing. Detailed filing data is available for this year.$214$12.3$202$93.3$57.6$35.7
2020Detailed filing. Detailed filing data is available for this year.$180$31.2$149$66.9$59.9$6.98
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$165$26.4$139$75.9$59.2$16.7
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$150$28.1$122$64.3$57.7$6.59
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$141$29.1$112$55.9$53.5$2.43
2016Detailed filing. Detailed filing data is available for this year.$134$29.9$104$46.8$51.8$4.93
2015Detailed filing. Detailed filing data is available for this year.$138$28.5$110$64.7$47.2$17.4
2014Detailed filing. Detailed filing data is available for this year.$122$30.5$91.8$50.1$46.4$3.64
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$115$31.6$83.4$42.1
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$109$33.9$75.5$42.0
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$112$34.8$76.8$41.4