Civic Intelligence

Livingstone College

EIN 56-0603922 • 501(c)3 • Salisbury, NC

Profile

The College provides a Christian based environment suitable for learning, it provides liberal arts and religious programs for students from all ethnic backgrounds designed to develop their potential for leadership and service to a global community.

701 West Monroe StreetSalisbury, NC 28144

www.livingstone.edu

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

38th percentile

0.19x

Higher debt load relative to assets than 38% of similar nonprofits.

NTEE B • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

46th percentile

0.52x

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

NTEE B • $100M-$250M nonprofits • Source year 2024

Net Margin

24th percentile

-3.7%

Higher net margin than 24% of similar nonprofits.

NTEE B • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

50th percentile

$390,041

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

NTEE B • $100M-$250M nonprofits • Source year 2024

Asset Growth

59th percentile

6.1%

Faster asset growth than 59% of similar nonprofits.

NTEE B • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

19th percentile

-2.9%

Faster revenue growth than 19% of similar nonprofits.

NTEE B • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Up

$100,144,198

Up $5,742,033 (+6.1%) from 2023

Liabilities

Up

$19,221,724

Up $6,406,893 (+50%) from 2023

Net Assets

Down

$80,922,474

Down $664,860 (-0.8%) from 2023

Revenue

Down

$36,914,223

Down $1,086,328 (-2.9%) from 2023

Expenses

Down

$38,261,674

Down $2,595,880 (-6.4%) from 2023

Net Income

Up

-$1,347,451

Up $1,509,552 (+53%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150M$100M$50M$0Assets 2010: $45,932,024Liabilities 2010: $12,898,587Net Assets 2010: $33,033,4372010Assets 2011: $55,549,373Liabilities 2011: $19,887,230Net Assets 2011: $35,662,1432011Assets 2012: $54,094,278Liabilities 2012: $18,532,438Net Assets 2012: $35,561,8402012Assets 2013: $58,999,124Liabilities 2013: $23,793,122Net Assets 2013: $35,206,0022013Assets 2014: $58,078,296Liabilities 2014: $22,174,514Net Assets 2014: $35,903,7822014Assets 2015: $63,379,976Liabilities 2015: $26,201,836Net Assets 2015: $37,178,1402015Assets 2016: $65,493,639Liabilities 2016: $26,666,336Net Assets 2016: $38,827,3032016Assets 2017: $67,148,055Liabilities 2017: $25,036,896Net Assets 2017: $42,111,1592017Assets 2018: $71,562,733Liabilities 2018: $29,726,607Net Assets 2018: $41,836,1262018Assets 2019: $74,842,116Liabilities 2019: $31,872,829Net Assets 2019: $42,969,2872019Assets 2020: $83,467,495Liabilities 2020: $37,896,803Net Assets 2020: $45,570,6922020Assets 2021: $87,006,001Liabilities 2021: $4,870,309Net Assets 2021: $82,135,6922021Assets 2022: $90,055,878Liabilities 2022: $6,042,555Net Assets 2022: $84,013,3232022Assets 2023: $94,402,165Liabilities 2023: $12,814,831Net Assets 2023: $81,587,3342023Assets 2024: $100,144,198Liabilities 2024: $19,221,724Net Assets 2024: $80,922,4742024

Highlighted filing

2024

Assets$100,144,198
Liabilities$19,221,724
Net Assets$80,922,474

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$60M$40M$20M$0-$20MExpenses 2010: $26,567,4562010Expenses 2011: $28,188,1672011Expenses 2012: $29,705,5752012Expenses 2013: $29,305,1412013Revenue 2014: $32,762,952Expenses 2014: $32,144,023Net Income 2014: $618,9292014Revenue 2015: $37,656,714Expenses 2015: $36,418,835Net Income 2015: $1,237,8792015Revenue 2016: $36,986,346Expenses 2016: $34,674,418Net Income 2016: $2,311,9282016Revenue 2017: $36,499,004Expenses 2017: $33,462,665Net Income 2017: $3,036,3392017Revenue 2018: $34,165,494Expenses 2018: $35,156,221Net Income 2018: -$990,7272018Revenue 2019: $35,556,202Expenses 2019: $34,749,188Net Income 2019: $807,0142019Revenue 2020: $37,955,439Expenses 2020: $35,409,950Net Income 2020: $2,545,4892020Revenue 2021: $42,495,436Expenses 2021: $38,692,388Net Income 2021: $3,803,0482021Revenue 2022: $41,830,607Expenses 2022: $39,251,730Net Income 2022: $2,578,8772022Revenue 2023: $38,000,551Expenses 2023: $40,857,554Net Income 2023: -$2,857,0032023Revenue 2024: $36,914,223Expenses 2024: $38,261,674Net Income 2024: -$1,347,4512024

Highlighted filing

2024

Revenue$36,914,223
Expenses$38,261,674
Net Income-$1,347,451

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$100$19.2$80.9$36.9$38.3$1.35
2023Detailed filing. Detailed filing data is available for this year.$94.4$12.8$81.6$38.0$40.9$2.86
2022Detailed filing. Detailed filing data is available for this year.$90.1$6.04$84.0$41.8$39.3$2.58
2021Detailed filing. Detailed filing data is available for this year.$87.0$4.87$82.1$42.5$38.7$3.80
2020Detailed filing. Detailed filing data is available for this year.$83.5$37.9$45.6$38.0$35.4$2.55
2019Detailed filing. Detailed filing data is available for this year.$74.8$31.9$43.0$35.6$34.7$0.81
2018Detailed filing. Detailed filing data is available for this year.$71.6$29.7$41.8$34.2$35.2$0.99
2017Detailed filing. Detailed filing data is available for this year.$67.1$25.0$42.1$36.5$33.5$3.04
2016Detailed filing. Detailed filing data is available for this year.$65.5$26.7$38.8$37.0$34.7$2.31
2015Detailed filing. Detailed filing data is available for this year.$63.4$26.2$37.2$37.7$36.4$1.24
2014Detailed filing. Detailed filing data is available for this year.$58.1$22.2$35.9$32.8$32.1$0.62
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$59.0$23.8$35.2$29.3
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$54.1$18.5$35.6$29.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$55.5$19.9$35.7$28.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$45.9$12.9$33.0$26.6
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 15, 2025
Return Version
2023v6.0
Gross Receipts
$36,914,223
Mission and Program Overview

Mission

The College provides a Christian based environment suitable for learning, it provides liberal arts and religious programs for students from all ethnic backgrounds designed to develop their potential for leadership and service to a global community.

The mission of the College is to prepare students personally, socially, and intellectually to effectively function in a global and technological society.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$59,573,445$67,340,009▲ $7,766,564
Investments Other Securities$13,487,954$13,605,681▲ $117,727
Investments in Publicly Traded Securities$5,917,676$6,843,273▲ $925,597
Cash and Non-Interest-Bearing Accounts$6,705,983$4,774,316▼ $1,931,667
Accounts Receivable$3,862,894$3,640,644▼ $222,250
Pledges and Grants Receivable$482,940$467,940▼ $15,000
Savings and Temporary Cash Investments$472,524$225,792▼ $246,732
Other Notes and Loans Receivable, Net$232,646$218,832▼ $13,814
Prepaid Expenses and Deferred Charges$602,962$115,159▼ $487,803
Inventories for Sale or Use$36,904$42,785▲ $5,881
Total Assets$94,402,165$100,144,198▲ $5,742,033
Other Assets Total$3,026,237$2,869,767▼ $156,470
Liabilities
Accounts Payable and Accrued Expenses$6,801,121$12,079,436▲ $5,278,315
Mortgage Notes Payable Secured by Investment Property$93,186$2,582,828▲ $2,489,642
Grants Payable$3,360,462$2,391,335▼ $969,127
Other Liabilities$2,560,062$2,168,125▼ $391,937
Total Liabilities$12,814,831$19,221,724▲ $6,406,893
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$68,366,073$68,819,313▲ $453,240
Net Assets With Donor Restrictions$13,221,261$12,103,161▼ $1,118,100
Total Net Assets Fund Balance$81,587,334$80,922,474▼ $664,860
Total Liabilities and Net Assets / Fund Balance$94,402,165$100,144,198▲ $5,742,033

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$47,335,177$52,672,672$100,007,849
Equipment$8,642,139$9,616,623$18,258,762
Other Land Buildings$11,247,203-$11,247,203
Land$115,490-$115,490
Other Securities$13,605,681--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$1,715,127$75,335▲ $682,591-$1,790,462
2022$1,618,313$96,814▲ $436,594-$1,715,127
2021$1,431,365$186,948▼ $701,246-$1,618,313
2020$1,431,340$25▲ $1,119,130-$1,431,365
2019$1,431,340-▲ $55,916-$1,431,340
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Anthony J DavisPresidentFT$390,041$11,250$390,041
Ms Dawn B McNairVice President of Academic AffairsFT$225,000$10,000$236,250
Mr Greg PetzkeCFO/Vice President for Business FinanceFT$200,000$9,000$210,000
Ms Maria LumpkinVice President of Facilities, InfrastructureFT$180,000$9,000$189,000
Dr Jacqueline Flowers MillerVice President of Human ResourcesFT$170,000$1,700$171,700
Ms Carolyn DuncanVice President of Institutional Effectiveness, Special and Sponsored ProgramsFT$167,500-$167,500
Dr State W Alexander IIIExecutive Assistant to the PresidentFT$130,000$6,500$136,500
Mr Anthony BrooksVice President of Enrollment ManagementFT$130,000$6,500$136,500
Dr Orlando LewisVice President of Student AffairsFT$130,000$3,600$133,600
Mr Reginald Roberts SrChief of Police/Vice President of Public SafetyFT$120,000$1,200$121,200
Mr Clifton HuffAthletic DirectorFT$113,000$5,750$118,750
Ms Ginger CartwrightLegal CounselFT$110,000$5,440$115,440
Mr Pete TeagueSpecial Assistant to the President for Community DevelopmentFT$108,000$5,400$113,400
Revenue and Support

Revenue Composition

Contributions and Grants
$16,108,114
Program Service Revenue
$19,847,821
Investment Income
$191,873
Other Revenue
$766,415
All Other Contributions
$9,796,108
Change in Net Assets
$-1,347,451

Audited Revenue Reconciliation

Revenue per Audited Statements
$36,914,223
Revenue Not Reported on Form 990
$682,591
Total Revenue per Audited Statements
$37,596,814
Total Revenue per Form 990
$36,914,223
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$29,925,622
Grants and Similar Amounts Paid$6,096,171
Salaries, Compensation, and Employee Benefits$2,239,881
Total Fundraising Expense$677,409
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$2,447,078$8,246,986$677,409$11,371,473
Grants to Domestic Individuals$6,096,171--$6,096,171
All Other Expenses$5,409,699--$5,409,699
Current Officers, Directors, Trustees, and Key Employees-$2,239,881-$2,239,881
Total Functional Expenses$26,235,944$11,348,321$677,409$38,261,674

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$38,261,674
Total Expenses per Audited Statements$38,261,674
Total Expenses per Form 990$38,261,674
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
Federal income taxes$2,168,125
Finance lease obligation-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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 B, Line 11B

The College presents the Form 990 to its finance/audit committee for review when the form is ready. Depending on when the committee meets and the due date of the return, the Form 990 is either modified before it is filed or an amendment is filed for any changes required from the finance/audit committee.

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

Trustees are required to disclose at the next convening Board of Trustees meeting any conflict of interest. Trustees with a conflict of interest on a matter of vote must abstain from voting. The Colleges audit/finance committee is responsible for ensuring adherence to the policy.

Form 990, Part VI, Section B, Line 15A

The Board of Trustees, based on predetermined areas of performance, evaluates the work of the President annually. The Boards Evaluation and Compensation Committee evaluates the performance. When additional compensation is deemed appropriate, a review of salaries at peer institutions is conducted to assist in arriving at a recommendation to the Executive Committee for approval.

Form 990, Part VI, Section B, Line 15B

Compensation for top officers of the College is at the discretion of the President. This discretion is based on 1 previous salary history, 2 market data from CUPA Survey published in the Chronicle of Higher Education, and 3 the bargaining process.

Form 990, Part VI, Section C, Line 19

The College makes its governing documents, conflict of interest policy, and financial statements available upon request. To obtain copies, contact the business office and submit a request identifying the specific documents.

Filing and Contact Details

Filer

Filer Name
Livingstone College
EIN
56-0603922
Phone
7042166025
Address
701 West Monroe Street, Salisbury, NC 28144

Signing Officer

Name
Greg Petzke
Title
CFO
Phone
7042166025
Signed
2025-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Greg Petzke
Formed
1905
Legal Domicile
Nc
Voting Board Members
30
Independent Board Members
29
Employees
470

Preparer

Firm
Murphy and Company PC
Address
1475 Klondike Road Suite 100, Conyers, GA 30094
Preparer
Dane Alexander
Phone
4048740555
Supplemental Narrative

Financial Statement Notes

V 4

The endowment funds shown are considered permanently restricted. The College does not intend to use the funds.

X 2

The Colleges policy is to record a liability or asset for any tax position taken that is beneficial to the College, including any related interest and penalties, when it is more-likely-than-not the position taken by management with respect to a transaction or class of transactions will be overturned by a taxing authority upon examination. Management believes there is no such position as of June 30, 2024. Accordingly, no liability has been accrued.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm1Ms Dawn B McNair
IRS990/Form990PartVIISectionAGrp/PersonNm2Mr Greg Petzke
IRS990/Form990PartVIISectionAGrp/PersonNm3Ms Maria Lumpkin
IRS990/Form990PartVIISectionAGrp/PersonNm4Dr Jacqueline Flowers Miller
IRS990/Form990PartVIISectionAGrp/PersonNm5Ms Carolyn Duncan
IRS990/Form990PartVIISectionAGrp/PersonNm6Dr State W Alexander III
IRS990/Form990PartVIISectionAGrp/PersonNm7Mr Anthony Brooks
IRS990/Form990PartVIISectionAGrp/PersonNm8Dr Orlando Lewis
IRS990/Form990PartVIISectionAGrp/PersonNm9Mr Reginald Roberts Sr
IRS990/Form990PartVIISectionAGrp/PersonNm10Mr Clifton Huff
IRS990/Form990PartVIISectionAGrp/PersonNm11Ms Ginger Cartwright
IRS990/Form990PartVIISectionAGrp/PersonNm12Mr Pete Teague
IRS990/Form990PartVIISectionAGrp/PersonNm13Attorney Joel G Bowden
IRS990/Form990PartVIISectionAGrp/PersonNm14Mr Nigel Alston
IRS990/Form990PartVIISectionAGrp/PersonNm15Dr James R Gavin III
IRS990/Form990PartVIISectionAGrp/PersonNm16Bishop George D Crenshaw
IRS990/Form990PartVIISectionAGrp/PersonNm17Bishop Hilliard Dogbe
IRS990/Form990PartVIISectionAGrp/PersonNm18Bishop U U Effiong
IRS990/Form990PartVIISectionAGrp/PersonNm19Bishop W Darin Moore
IRS990/Form990PartVIISectionAGrp/PersonNm20Bishop Darryl B Starnes Sr
IRS990/Form990PartVIISectionAGrp/PersonNm21Ms Leslie A Carter
IRS990/Form990PartVIISectionAGrp/PersonNm22Reverend Dr Dwayne Walker
IRS990/Form990PartVIISectionAGrp/PersonNm23Mr Robert Marshall
IRS990/Form990PartVIISectionAGrp/PersonNm24Dr Richard Rolle Jr
IRS990/Form990PartVIISectionAGrp/PersonNm25Ms Wendee Marie Bailey
IRS990/Form990PartVIISectionAGrp/PersonNm26Dr T Antonio Landers
IRS990/Form990PartVIISectionAGrp/PersonNm27Mr Thomas Penny III
IRS990/Form990PartVIISectionAGrp/PersonNm28Mr Bruce Stanback
IRS990/Form990PartVIISectionAGrp/PersonNm29Rev Patrick A Barrett II
IRS990/Form990PartVIISectionAGrp/PersonNm30Rev Al C Hamilton
IRS990/Form990PartVIISectionAGrp/PersonNm31Bishop Eric Leake
IRS990/Form990PartVIISectionAGrp/PersonNm32Bishop Brian R Thompson Jr
IRS990/Form990PartVIISectionAGrp/PersonNm33Rev Da'Tarvia Parrish
IRS990/Form990PartVIISectionAGrp/PersonNm34Dr Monica J Posey
IRS990/Form990PartVIISectionAGrp/PersonNm35Dr Kenston Griffin
IRS990/Form990PartVIISectionAGrp/PersonNm36Ms Elmira Gwynn
IRS990/Form990PartVIISectionAGrp/PersonNm37Bishop Melanie Miller
IRS990/Form990PartVIISectionAGrp/PersonNm38Bishop Daran H Mitchell
IRS990/Form990PartVIISectionAGrp/PersonNm39Bishop Bernado J Ngunza
IRS990/Form990PartVIISectionAGrp/PersonNm40Miss Ne'Khia Ray
IRS990/Form990PartVIISectionAGrp/PersonNm41Bishop Anthony N Witherspoon
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IRS990/Form990PartVIISectionAGrp/TitleTxt0President
IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice President of Academic Affairs
IRS990/Form990PartVIISectionAGrp/TitleTxt2CFO/Vice President for Business Finance
IRS990/Form990PartVIISectionAGrp/TitleTxt3Vice President of Facilities, Infrastructure
IRS990/Form990PartVIISectionAGrp/TitleTxt4Vice President of Human Resources
IRS990/Form990PartVIISectionAGrp/TitleTxt5Vice President of Institutional Effectiveness, Special and Sponsored Programs
IRS990/Form990PartVIISectionAGrp/TitleTxt6Executive Assistant to the President
IRS990/Form990PartVIISectionAGrp/TitleTxt7Vice President of Enrollment Management
IRS990/Form990PartVIISectionAGrp/TitleTxt8Vice President of Student Affairs
IRS990/Form990PartVIISectionAGrp/TitleTxt9Chief of Police/Vice President of Public Safety
IRS990/Form990PartVIISectionAGrp/TitleTxt10Athletic Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Legal Counsel
IRS990/Form990PartVIISectionAGrp/TitleTxt12Special Assistant to the President for Community Development
IRS990/Form990PartVIISectionAGrp/TitleTxt13Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt14Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt15Board Member

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