Civic Intelligence

Livingstone College

990 • Fiscal year 2015 • EIN 56-0603922

Jul 01, 2014 to Jun 30, 2015 • Filed on May 11, 2016

701 West Monroe StreetSalisbury, NC 28144

(704) 216-6025

Siviq Scores

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

Liabilities / Assets

71st percentile

0.41x

Higher debt load relative to assets than 71% of similar nonprofits.

2015 filings • NTEE B • $50M-$100M nonprofits • Source year 2015

Liabilities / Revenue

63rd percentile

0.70x

Higher debt load relative to revenue than 63% of similar nonprofits.

2015 filings • NTEE B • $50M-$100M nonprofits • Source year 2015

Net Margin

41st percentile

3.3%

Higher net margin than 41% of similar nonprofits.

2015 filings • NTEE B • $50M-$100M nonprofits • Source year 2015

Top Officer Pay

52nd percentile

$341,516

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2015 filings • NTEE B • $50M-$100M nonprofits • Source year 2015

Asset Growth

84th percentile

9.1%

Faster asset growth than 84% of similar nonprofits.

2015 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2014 to 2015

Revenue Growth

76th percentile

15%

Faster revenue growth than 76% of similar nonprofits.

2015 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2014 to 2015

Assets

Up

$63,379,976

Up $5,301,680 (+9.1%) from 2014

Net Assets

Up

$37,178,140

Up $1,274,358 (+3.5%) from 2014

Liabilities

Up

$26,201,836

Up $4,027,322 (+18%) from 2014

Revenue

Up

$37,656,714

Up $4,893,762 (+15%) from 2014

Expenses

Up

$36,418,835

Up $4,274,812 (+13%) from 2014

Net Income

Up

$1,237,879

Up $618,950 (+100%) from 2014

Historical Trend

Balance Sheet Trend

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

$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

2015

Assets$63,379,976
Liabilities$26,201,836
Net Assets$37,178,140

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2015

Revenue$37,656,714
Expenses$36,418,835
Net Income$1,237,879
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
May 11, 2016
Return Version
2014v6.0
Gross Receipts
$37,656,714
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$35,622,007$39,131,567▲ $3,509,560
Investments Other Securities$13,196,538$13,347,170▲ $150,632
Cash and Non-Interest-Bearing Accounts$2,318,643$3,088,215▲ $769,572
Investments in Publicly Traded Securities$2,353,892$2,585,221▲ $231,329
Accounts Receivable$3,043,184$2,571,594▼ $471,590
Prepaid Expenses and Deferred Charges$524,053$817,241▲ $293,188
Savings and Temporary Cash Investments$215,108$680,125▲ $465,017
Pledges and Grants Receivable$554,704$554,704→ $0
Inventories for Sale or Use$39,001$44,728▲ $5,727
Total Assets$58,078,296$63,379,976▲ $5,301,680
Other Assets Total$211,166$559,411▲ $348,245
Liabilities
Mortgage Notes Payable Secured by Investment Property$12,532,695$11,399,450▼ $1,133,245
Tax Exempt Bond Liabilities$7,172,979$10,994,800▲ $3,821,821
Accounts Payable and Accrued Expenses$2,213,338$3,707,735▲ $1,494,397
Other Liabilities$255,502$99,851▼ $155,651
Total Liabilities$22,174,514$26,201,836▲ $4,027,322
Net Assets / Fund Balance
Unrestricted Net Assets$32,756,742$33,647,577▲ $890,835
Temporarily Rstr Net Assets$1,797,174$2,161,808▲ $364,634
Permanently Rstr Net Assets$1,349,866$1,368,755▲ $18,889
Total Net Assets Fund Balance$35,903,782$37,178,140▲ $1,274,358
Total Liabilities and Net Assets / Fund Balance$58,078,296$63,379,976▲ $5,301,680

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$32,691,489$32,994,051$65,685,540
Equipment$6,324,588$6,383,122$12,707,710
Land$115,490-$115,490
Other Securities$13,347,170--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$1,412,451$18,889▲ $36,479-$1,431,340
2013$1,339,666$72,785▲ $78,851-$1,412,451
2012$1,331,366$8,300▼ $92,020-$1,339,666
2011$1,316,986$14,380▲ $81,660-$1,331,366
2010$1,316,986-▲ $58,997-$1,316,986
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Jimmy R JenkinsPresidentFT$300,000$41,516$341,516
Dr Herman FeltonSenior Vice President for Institutional AdvancementFT$160,000-$160,000
Mr Reginald DickensVice President for Business and FinanceFT$150,000-$150,000
Dr Carolyn DuncanVice President for Academic AffairsFT$140,000-$140,000
Dr Orlando LewisVice President for Student AffairsFT$100,000-$100,000

Highest Paid Contractors

ContractorServicesLocationCompensation
Perkins Management ServicesFood Service Management203 Rowan Street, Fayetteville, NC 28305$2,050,848
North Carolina Service CompanyGrounds MaintenancePO Box 27541, Raleigh, NC 27611$776,790
Eddies DrywallRepairs and Renovations4808 Holders Road, Greensboro, NC 27405$565,679
Cengage LearningText BooksPO Box 95999, Chicago, IL 60694$289,394
BSL Galbreath IncRepairs and Renovations801 East Morhead Street Suite 128, Charlotte, NC 28202$204,195
Revenue and Support

Revenue Composition

Contributions and Grants
$6,237,521
Program Service Revenue
$30,267,876
Investment Income
$534,283
Other Revenue
$617,034
All Other Contributions
$2,283,581
Change in Net Assets
$1,237,879

Audited Revenue Reconciliation

Revenue per Audited Statements
$37,656,714
Revenue Not Reported on Form 990
$36,479
Total Revenue per Audited Statements
$37,693,193
Total Revenue per Form 990
$37,656,714
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$31,787,238
Grants and Similar Amounts Paid$3,900,079
Salaries, Compensation, and Employee Benefits$731,518
Total Fundraising Expense$345,505
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$2,781,329$13,870,724$345,505$16,997,558
All Other Expenses$4,360,693--$4,360,693
Grants to Domestic Individuals$3,900,079--$3,900,079
Current Officers, Directors, Trustees, and Key Employees-$731,518-$731,518
Total Functional Expenses$20,716,443$15,356,887$345,505$36,418,835

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$36,418,835
Total Expenses per Audited Statements$36,418,835
Total Expenses per Form 990$36,418,835
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$99,851
Capital 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 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 committees review.

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. Board members with a conflict of interest on a matter for 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 the 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 to the public 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
Reginald Dickins
Title
Chief Financial Officer
Signed
2016-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Reginald Dickens
Legal Domicile
Nc
Voting Board Members
23
Independent Board Members
22
Employees
624
Volunteers
62

Preparer

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

Additional Explanations

Form 990, Part XI, Line 5

The College presents its changes in net assets or fund balances separate from revenues and expenses. The balance is representative of gains and losses on investments during the fiscal year.

Financial Statement Notes

V 4

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

X 2

Accounting principles generally accepted in the United States of America require the Colleges management to evaluate tax positions taken by the College and to recognize a tax liability or asset if the College has taken an uncertain tax position that will more-likely-than-not be sustained upon examination by taxing authorities. Management has analyzed the tax position taken by the College and believes that there are no such positions as of June 30, 2015. Accordingly, no liability has been accrued.

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IRS990/Form990PartVIISectionAGrp/PersonNm2Rev Kathryn G Brown
IRS990/Form990PartVIISectionAGrp/PersonNm3Bishop George E Battle Jr
IRS990/Form990PartVIISectionAGrp/PersonNm4Dr Arnett Coleman
IRS990/Form990PartVIISectionAGrp/PersonNm5Dr James R Gavin III
IRS990/Form990PartVIISectionAGrp/PersonNm6Col Aaron B Floyd
IRS990/Form990PartVIISectionAGrp/PersonNm7Bishop Michael A Frencher Sr
IRS990/Form990PartVIISectionAGrp/PersonNm8Bishop Louis Hunter Sr
IRS990/Form990PartVIISectionAGrp/PersonNm9Mr Herb Gray
IRS990/Form990PartVIISectionAGrp/PersonNm10Atty Eunice Jones-Obeng
IRS990/Form990PartVIISectionAGrp/PersonNm11Bishop Richard K Thompson
IRS990/Form990PartVIISectionAGrp/PersonNm12Dr Jimmy R Jenkins
IRS990/Form990PartVIISectionAGrp/PersonNm13Bishop Kenneth Monroe
IRS990/Form990PartVIISectionAGrp/PersonNm14Bishop Mildred B Hines
IRS990/Form990PartVIISectionAGrp/PersonNm15Bishop W Darin Moore
IRS990/Form990PartVIISectionAGrp/PersonNm16Bishop Dennis V Proctor
IRS990/Form990PartVIISectionAGrp/PersonNm17Bishop Darryl B Starnes Sr
IRS990/Form990PartVIISectionAGrp/PersonNm18Bishop Seth O Lartey
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IRS990/Form990PartVIISectionAGrp/PersonNm20Dr Wyndham Whynot
IRS990/Form990PartVIISectionAGrp/PersonNm21Dr Shirley Welch
IRS990/Form990PartVIISectionAGrp/PersonNm22Mr Robert Marshall
IRS990/Form990PartVIISectionAGrp/PersonNm23Dr Carolyn Duncan
IRS990/Form990PartVIISectionAGrp/PersonNm24Dr Orlando Lewis
IRS990/Form990PartVIISectionAGrp/PersonNm25Mr Reginald Dickens
IRS990/Form990PartVIISectionAGrp/PersonNm26Dr Herman Felton
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IRS990/Form990PartVIISectionAGrp/TitleTxt12President
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IRS990/Form990PartVIISectionAGrp/TitleTxt22Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt23Vice President for Academic Affairs
IRS990/Form990PartVIISectionAGrp/TitleTxt24Vice President for Student Affairs
IRS990/Form990PartVIISectionAGrp/TitleTxt25Vice President for Business and Finance
IRS990/Form990PartVIISectionAGrp/TitleTxt26Senior Vice President for Institutional Advancement
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

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