Civic Intelligence

Catawba College

990 • Fiscal year 2018 • EIN 56-0530251

Jun 01, 2017 to May 31, 2018 • Filed on Apr 11, 2019

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

36th percentile

0.19x

Higher debt load relative to assets than 36% of similar nonprofits.

2018 filings • NTEE B • $100M-$250M nonprofits • Source year 2018

Liabilities / Revenue

31st percentile

0.44x

Higher debt load relative to revenue than 31% of similar nonprofits.

2018 filings • NTEE B • $100M-$250M nonprofits • Source year 2018

Net Margin

65th percentile

10%

Higher net margin than 65% of similar nonprofits.

2018 filings • NTEE B • $100M-$250M nonprofits • Source year 2018

Top Officer Pay

45th percentile

$374,859

Higher top officer pay than 45% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2018 filings • NTEE B • $100M-$250M nonprofits • Source year 2018

Asset Growth

68th percentile

7.0%

Faster asset growth than 68% of similar nonprofits.

2018 filings • NTEE B • $100M-$250M nonprofits • Annualized from 2017 to 2018

Revenue Growth

79th percentile

15%

Faster revenue growth than 79% of similar nonprofits.

2018 filings • NTEE B • $100M-$250M nonprofits • Annualized from 2017 to 2018

Assets

Up

$150,476,316

Up $9,802,011 (+7.0%) from 2017

Net Assets

Up

$122,346,122

Up $10,732,059 (+9.6%) from 2017

Liabilities

Down

$28,130,194

Down $930,048 (-3.2%) from 2017

Revenue

Up

$64,281,199

Up $8,349,348 (+15%) from 2017

Expenses

Up

$57,693,468

Up $4,193,685 (+7.8%) from 2017

Net Income

Up

$6,587,731

Up $4,155,663 (+171%) from 2017

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

2018

Assets$150,476,316
Liabilities$28,130,194
Net Assets$122,346,122

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

2018

Revenue$64,281,199
Expenses$57,693,468
Net Income$6,587,731
Jump To
Filing Snapshot
Filing Period
Jun 1, 2017 to May 31, 2018
Signed
Apr 11, 2019
Return Version
2017v2.3
Gross Receipts
$65,590,522
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$59,916,064$60,856,072▲ $940,008
Investments in Publicly Traded Securities$50,750,255$53,948,763▲ $3,198,508
Savings and Temporary Cash Investments$9,086,325$17,058,200▲ $7,971,875
Cash and Non-Interest-Bearing Accounts$9,352,992$8,225,433▼ $1,127,559
Investments Program Related$2,847,023$2,047,219▼ $799,804
Accounts Receivable$972,371$1,126,380▲ $154,009
Pledges and Grants Receivable$1,443,280$1,005,376▼ $437,904
Prepaid Expenses and Deferred Charges$231,098$124,941▼ $106,157
Inventories for Sale or Use$67,391$69,007▲ $1,616
Investments Other Securities$30,611$30,611→ $0
Total Assets$140,674,305$150,476,316▲ $9,802,011
Other Assets Total$5,976,895$5,984,314▲ $7,419
Liabilities
Mortgage Notes Payable Secured by Investment Property$19,159,088$18,558,454▼ $600,634
Other Liabilities$5,828,500$5,669,665▼ $158,835
Accounts Payable and Accrued Expenses$2,136,474$2,288,081▲ $151,607
Deferred Revenue$1,722,650$1,487,828▼ $234,822
Escrow Account Liability$213,530$126,166▼ $87,364
Total Liabilities$29,060,242$28,130,194▼ $930,048
Net Assets / Fund Balance
Permanently Rstr Net Assets$48,574,443$50,389,445▲ $1,815,002
Temporarily Rstr Net Assets$34,960,450$44,069,572▲ $9,109,122
Unrestricted Net Assets$28,079,170$27,887,105▼ $192,065
Total Net Assets Fund Balance$111,614,063$122,346,122▲ $10,732,059
Total Liabilities and Net Assets / Fund Balance$140,674,305$150,476,316▲ $9,802,011

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$42,672,826$44,394,027$87,066,853
Equipment$12,272,805$12,767,827$25,040,632
Other Land Buildings$3,289,517$3,187,068$6,476,585
Land$2,620,924-$2,514,724

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$61,876,000$1,816,000▲ $5,729,000$2,176,000$71,597,000
2016$56,557,000$1,213,000▲ $6,113,000$2,007,000$61,876,000
2015$56,818,000$1,018,000▲ $532,000$1,811,000$56,557,000
2014$53,348,000$1,128,000▲ $4,091,000$1,749,000$56,818,000
2013$48,238,000$748,000▲ $6,302,000$1,940,000$53,348,000
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brien LewisPresidentFT$298,098$76,761$374,859
Nelson MurphyChief Operating OfficerFT$178,698$46,015$224,713
J Michael BitzerProvostFT$147,761$38,048$185,809
Larry LeckonbyAthletic DirectorFT$142,905$36,798$179,703
Jay AbrahamDean of Business School (until 3/31/18)FT$134,027$34,512$168,539
Jay AbrahamDean of Business School (until 3/31/-$134,027$34,512$168,539
Richard DarrTechnology DirectorFT$115,245$29,676$144,921
Racquel IngramNursing Program DirectorFT$111,267$28,652$139,919
Stephen HiattProfessorFT$107,137$27,588$134,725
Kenneth ClappSr Vice PresidentFT$97,847$25,195$123,042
Elaine HoldenVice President of AdmissionsFT$62,638$16,129$78,767

Highest Paid Contractors

ContractorServicesLocationCompensation
Chartwells Dining ServicesDining Services3 INTERNATIONAL DRIVE, Rye Brook, NY 10573$2,124,880
Vertex Construction Company LLCConstruction723 CORPORATE CIRCLE, Salisbury, NC 28148$929,724
Statesville Roofing & Building RestoratiConstructionPO BOX 1266, Statesville, NC 28687$660,905
Data Network Solutions INCIt Services629 LAKE TIDE DRIVE, Chapin, SC 29036$507,793
Ellucian Company LPIt Services62578 COLLECTION CENTER DRIVE, Chicago, IL 60693$411,812
Revenue and Support

Revenue Composition

Contributions and Grants
$19,160,379
Program Service Revenue
$43,519,308
Investment Income
$1,601,512
Other Revenue
$0
All Other Contributions
$19,160,379
Change in Net Assets
$6,587,731

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 Traded27$749,039Fair Market Value (FMV)
Total Noncash Contributions27$749,039-

Audited Revenue Reconciliation

Revenue per Audited Statements
$64,281,199
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-17,703,300
Total Revenue per Audited Statements
$46,577,899
Total Revenue per Form 990
$64,281,199
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$22,480,738
Salaries, Compensation, and Employee Benefits$19,401,509
Other Expenses$15,811,221
Total Fundraising Expense$591,177
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$22,480,738--$22,480,738
Other Salaries and Wages$11,472,315$3,356,001$132,869$14,961,185
Fees for Services Other$2,839,525$770,105$83,440$3,693,070
Depreciation Depletion$1,620,170$533,173$40,385$2,193,728
Other Employee Benefits$1,520,515$480,853$41,240$2,042,608
Occupancy$1,337,650$82,555-$1,420,205
Payroll Taxes$917,422$231,479$22,179$1,171,080
Travel$965,653$110,269$29,503$1,105,425
Current Officers, Directors, Trustees, and Key Employees$311,310$514,916$160,963$987,189
Information Technology$7,484$732,601-$740,085
Interest$521,274$171,543$12,993$705,810
Office Expenses$336,187$229,598$39,200$604,985
All Other Expenses$532,560$-16,754$7,663$523,469
Other Expenses$447,102$75,985$32$523,119
Insurance$100$416,914-$417,014
Advertising$197,074$43,815$1,535$242,424
Pension Plan Contributions$209,341$26,299$3,807$239,447
Conferences and Meetings$130,669$40,580$6,107$177,356
Fees for Services Accounting-$115,110-$115,110
Fees for Services Legal$1,255$39,532$956$41,743
Total Functional Expenses$49,035,511$8,066,780$591,177$57,693,468

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$57,693,468
Total Expenses per Audited Statements$35,845,840
Expenses per Audited Statements$35,799,324
Expenses Not Reported on Financial Statements$21,894,144
Other Expense Adjustments$21,894,144
Expenses Not Reported on Form 990$46,516
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
Refundable Government Loan Funds$2,467,176
Liability Under Trust Agreements$1,471,165
Asset Retirement Obligation$1,196,045
Annuities Payable$401,677
Capital Lease Obligations$133,602
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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

William graham and mona wallace have a business relationship.

Form 990, Part VI, Section A, Line 2

Mona wallace and william graham have a business relationship.

Form 990, Part VI, Section B, Line 11B

The controller and vp of finance initially review the form 990. The 990 is also reviewed by the finance committee. A public disclosure copy of the form 990 is then provided to the board of trustees prior to filing with the irs. The full board receives the public disclosure copy of the return in order to protect donor 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
Chief Operating Officer
Phone
7046374463
Signed
2019-04-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brien Lewis
Formed
1925
Legal Domicile
Nc
Voting Board Members
28
Independent Board Members
28
Employees
848
Volunteers
31

Preparer

Firm
Cherry Bekaert Llp
Address
1111 METROPOLITAN AVE STE 900, CHARLOTTE, NC 28204
Preparer
Amanda Adams
Phone
7043771678
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in beneficial interests in trusts 27,663. Change in liability under trust agreements -46,516.

Financial Statement Notes

PART IV, LINE 2B:

Deposits held in custody for others are amounts being held for student clubs/organizations through agency transactions.

PART V, LINE 4:

The college's endowment consists of approximately 540 individual funds established for a variety of purposes based on donor-imposed restrictions in the relative gift instrument. The primary use of funds is to support the cause of higher education.

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.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Scholarships shown net of tuition revenue -21,894,144. Change in beneficial interest in trusts 27,663.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Change in liability under trust agreements 46,516.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Scholarships shown net of tuition revenue 21,894,144.

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IRS990/ActivityOrMissionDesc0CATAWBA 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.
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IRS990/Desc0CATAWBA 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. 1,339 STUDENTS WERE SERVED DURING THE 2017-2018 FISCAL YEAR, WITH EACH STUDENT BEING PROVIDED FINANCIAL ASSISTANCE.
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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIRMAN
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IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
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IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt27DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt28PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt29CHIEF OPERATING OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt30PROVOST
IRS990/Form990PartVIISectionAGrp/TitleTxt31SR VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt32VICE PRESIDENT OF ADMISSIONS

Document Assets

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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
2018Detailed filing. Detailed filing data is available for this year.$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