Civic Intelligence

Presbyterian College

990 • Fiscal year 2021 • EIN 57-0314408

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 05, 2021

PO Box 975Clinton, SC 29325

(864) 833-8205

Siviq Scores

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

Liabilities / Assets

23rd percentile

0.06x

Higher debt load relative to assets than 23% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Liabilities / Revenue

21st percentile

0.13x

Higher debt load relative to revenue than 21% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Net Margin

63rd percentile

16%

Higher net margin than 63% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Top Officer Pay

24th percentile

$272,181

Higher top officer pay than 24% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Asset Growth

67th percentile

18%

Faster asset growth than 67% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Revenue Growth

64th percentile

19%

Faster revenue growth than 64% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Assets

Up

$178,788,042

Up $27,065,998 (+18%) from 2020

Net Assets

Up

$167,711,755

Up $30,848,937 (+23%) from 2020

Liabilities

Down

$11,076,287

Down $3,782,939 (-25%) from 2020

Revenue

Up

$82,344,801

Up $13,158,630 (+19%) from 2020

Expenses

Down

$69,161,981

Down $434,956 (-0.6%) from 2020

Net Income

Up

$13,182,820

Up $13,593,586 (+3309%) from 2020

Historical Trend

Balance Sheet Trend

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

$200M$150M$100M$50M$0Assets 2010: $149,296,591Liabilities 2010: $42,269,627Net Assets 2010: $107,026,9642010Assets 2011: $160,039,554Liabilities 2011: $42,629,290Net Assets 2011: $117,410,2642011Assets 2012: $156,762,168Liabilities 2012: $42,325,144Net Assets 2012: $114,437,0242012Assets 2013: $164,396,684Liabilities 2013: $41,656,686Net Assets 2013: $122,739,9982013Assets 2014: $169,383,839Liabilities 2014: $41,374,024Net Assets 2014: $128,009,8152014Assets 2015: $175,609,305Liabilities 2015: $41,850,506Net Assets 2015: $133,758,7992015Assets 2016: $170,559,358Liabilities 2016: $42,755,823Net Assets 2016: $127,803,5352016Assets 2017: $185,856,484Liabilities 2017: $45,590,897Net Assets 2017: $140,265,5872017Assets 2018: $189,170,118Liabilities 2018: $45,571,269Net Assets 2018: $143,598,8492018Assets 2019: $148,301,180Liabilities 2019: $11,483,996Net Assets 2019: $136,817,1842019Assets 2020: $151,722,044Liabilities 2020: $14,859,226Net Assets 2020: $136,862,8182020Assets 2021: $178,788,042Liabilities 2021: $11,076,287Net Assets 2021: $167,711,7552021Assets 2022: $169,714,653Liabilities 2022: $10,254,452Net Assets 2022: $159,460,2012022Assets 2023: $174,616,975Liabilities 2023: $16,969,021Net Assets 2023: $157,647,9542023

Highlighted filing

2021

Assets$178,788,042
Liabilities$11,076,287
Net Assets$167,711,755

Operations Trend

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

$100M$50M$0-$50MExpenses 2010: $58,780,9972010Expenses 2011: $64,052,8782011Expenses 2012: $63,377,1952012Expenses 2013: $64,732,0322013Revenue 2014: $83,012,323Expenses 2014: $65,889,750Net Income 2014: $17,122,5732014Revenue 2015: $77,101,716Expenses 2015: $68,934,470Net Income 2015: $8,167,2462015Revenue 2016: $64,613,114Expenses 2016: $65,103,088Net Income 2016: -$489,9742016Revenue 2017: $70,163,203Expenses 2017: $67,360,903Net Income 2017: $2,802,3002017Revenue 2018: $73,277,336Expenses 2018: $69,142,053Net Income 2018: $4,135,2832018Revenue 2019: $68,947,315Expenses 2019: $76,162,101Net Income 2019: -$7,214,7862019Revenue 2020: $69,186,171Expenses 2020: $69,596,937Net Income 2020: -$410,7662020Revenue 2021: $82,344,801Expenses 2021: $69,161,981Net Income 2021: $13,182,8202021Revenue 2022: $88,923,776Expenses 2022: $75,068,910Net Income 2022: $13,854,8662022Revenue 2023: $67,335,105Expenses 2023: $76,719,009Net Income 2023: -$9,383,9042023

Highlighted filing

2021

Revenue$82,344,801
Expenses$69,161,981
Net Income$13,182,820
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 5, 2021
Return Version
2020v4.1
Gross Receipts
$101,176,800
Mission and Program Overview

Mission

SEE SCHEDULE O.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$48,694,999$65,868,125▲ $17,173,126
Investments Other Securities$35,392,154$37,867,705▲ $2,475,551
Land, Buildings, and Equipment, Net$28,750,895$31,927,518▲ $3,176,623
Savings and Temporary Cash Investments$20,922,674$21,276,697▲ $354,023
Cash and Non-Interest-Bearing Accounts$3,082,741$6,064,215▲ $2,981,474
Pledges and Grants Receivable$3,373,823$2,569,532▼ $804,291
Accounts Receivable$410,440$906,246▲ $495,806
Other Notes and Loans Receivable, Net$724,875$600,605▼ $124,270
Prepaid Expenses and Deferred Charges$430,786$443,874▲ $13,088
Inventories for Sale or Use$43,977$33,805▼ $10,172
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$151,722,044$178,788,042▲ $27,065,998
Other Assets Total$9,894,680$11,229,720▲ $1,335,040
Liabilities
Accounts Payable and Accrued Expenses$3,925,396$3,742,597▼ $182,799
Other Liabilities$1,919,815$3,710,646▲ $1,790,831
Mortgage Notes Payable Secured by Investment Property$3,078,058$2,396,662▼ $681,396
Deferred Revenue$5,935,957$1,226,382▼ $4,709,575
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$14,859,226$11,076,287▼ $3,782,939
Net Assets / Fund Balance
Net Assets With Donor Restrictions$98,003,420$118,781,142▲ $20,777,722
Net Assets Without Donor Restrictions$38,859,398$48,930,613▲ $10,071,215
Total Net Assets Fund Balance$136,862,818$167,711,755▲ $30,848,937
Total Liabilities and Net Assets / Fund Balance$151,722,044$178,788,042▲ $27,065,998

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,844,408$37,354,110$42,198,518
Equipment$14,065,249-$14,065,249
Other Land Buildings$8,244,279-$8,244,279
Land$4,773,582-$4,773,582
Other Assets Org$413,262--
Financial Derivatives$37,867,705--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$88,099,610$3,695,653▲ $24,506,162-$110,849,891
2019$91,533,423$1,009,026▲ $1,235,457-$88,099,610
2018$91,855,297$1,059,385▲ $4,402,606-$91,533,423
2017$90,184,620$734,380▲ $7,164,112-$91,855,297
2016$83,401,469$1,445,122▲ $11,703,866$2,108,792$90,184,600
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robert StatonPresidentFT$245,481$26,700$272,181
Jeff ScacciaVP of FinanceFT$177,204$31,137$208,341
Suzanne PetruschVP of Enrollment & Fin. AidFT$161,088$31,915$193,003
Laverne FuhrmanProfessorFT$144,262$40,428$184,690
Francis MappinProfessorFT$129,846$54,590$184,436
Joseph WeberDean of Physician Asst. SchoolFT$136,405$38,717$175,122
Kayce ShealyProfessorFT$142,835$27,684$170,519
Don RaberProvostFT$139,204$24,436$163,640
Jacqueline BerkshireVP of AdvancementFT$152,262$10,757$163,019
Ms laura foxprofessorFT$129,692$32,868$162,560
Robert AcuntoDirector of AthleticsFT$138,637$23,428$162,065
Joy SmithVP of Campus LifeFT$118,444$22,093$140,537
Barbara FayadVP of HR (THRU 12/20)FT$113,865$16,694$130,559

Board Members and Trustees

NameTitle
Matthew vandenBergPresident
Mr Brad BryantBoard Member
Mr Brad SpearmanBoard Member
Mr Cody MitchellBoard Member
Mr Danny MurphyBoard Member
Mr Eg LassiterBoard Member
Mr Gregg FriersonBoard Member
Mr Hartwell DewBoard Member
Mr Holbrook RaynalBoard Member
Mr Jeri Parris PerkinsBoard Member
Mr Jim PfeifferBoard Member
Mr Jimmy SainBoard Member
Mr John ClarkBoard Member
Mr John InmanBoard Member
Mr John JeselnikBoard Member
Mr Ken CouchBoard Member
Mr Michael NicholsonBoard Member
Mr Stan ReidBoard Member
Mr Steve SmithBoard Member
Mr Ted PittsBoard Member
Mr Tom FreeBoard Member
Mr Tommy LawsonBoard Member
Mr Wes NalleyBoard Member
Mr Will KuhneBoard Member
Mr Willie CooperBoard Member
Ms Ann Taylor MorganBoard Member
Ms Jill MoylanBoard Member
Ms Louise SlaterBoard Member
Ms Ruth RoperBoard Member
Robin BorenBoard Member
Terri TibbsVP of HR

Highest Paid Contractors

ContractorServicesLocationCompensation
AramarkDining ServicePO Box 978839, Dallas, TX 75397-8839$2,249,394
Harper CorporationConstruction mgmt35 W Court Street Suite 400, Greenville, SC 29601$1,970,965
The Budd GroupFacilitiesPO Box 890856, Charlotte, NC 28289-0856$1,275,615
Waldrop IncFacilitiesPO Box 369, Reidville, SC 29375-0369$520,569
Musco Sports Lighting LLCConstruction mgmt100 1st Avenue West PO Box 808, Oskaloosa, IA 52577-0808$403,875
Revenue and Support

Revenue Composition

Contributions and Grants
$13,228,536
Program Service Revenue
$60,279,735
Investment Income
$8,732,913
Other Revenue
$103,617
All Other Contributions
$7,198,365
Change in Net Assets
$13,182,820

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 Traded18$299,059Fair Market Value
Total Noncash Contributions18$299,059-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$26,594,077
Salaries, Compensation, and Employee Benefits$24,230,929
Other Expenses$18,336,975
Total Fundraising Expense$1,201,815
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$26,594,077--$26,594,077
Other Salaries and Wages$16,373,532$2,026,438$655,551$19,055,521
Occupancy$2,467,464$995,204$3,664$3,466,332
Fees for Services Other$2,327,292$443,353$13,213$2,783,858
Other Employee Benefits$1,863,000$296,259$117,763$2,277,022
Office Expenses$1,554,869$319,300$115,628$1,989,797
Depreciation Depletion$956,667$945,666$5,390$1,907,723
Current Officers, Directors, Trustees, and Key Employees$806,537$512,029$138,259$1,456,825
Payroll Taxes$1,212,293$169,543$59,725$1,441,561
Information Technology$491,167$212,469$47,307$750,943
Insurance$692,346$47,363$647$740,356
All Other Expenses$543,024$128,254$16,754$688,032
Travel$529,604$122,988$7,227$659,819
Fees for Service Investment Mgmnt Fees-$498,077-$498,077
Other Expenses$252,422$200,962$1,309$200,962
Fees for Services Legal$17,388$138,471-$155,859
Interest-$137,839$691$138,530
Advertising$109,682$5,627-$115,309
Fees for Services Accounting-$92,600-$92,600
Conferences and Meetings$32,519$6,849$786$40,154
Total Functional Expenses$60,306,132$7,654,034$1,201,815$69,161,981
International Activity

International Summary

Spending
$7,729,312

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments---$7,729,312
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Liabilities$1,862,872
Capital Lease Obligations$1,384,571
Advances From Federal Government$463,203
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 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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION B, LINE 11B:

The institutions' form 990 is reviewed by the college's controller, the vice president for finance and administration, and the president. The form 990, including all schedules, is provided to the audit committee of the board of trustees and is an agenda item for a meeting of the audit committee, where those trustees ask any questions they have of the college staff. The trustees of the audit committee are independent and experienced in financial matters. The institution provides the final form 990 and all schedules except schedule b to all voting members of the governing board before the form is filed. (a redacted version of schedule b, excluding donor names and addresses is provided to all trustees to protect donor privacy. Audit committee members, however, would have already reviewed the un-redacted version of schedule b, as noted above).

FORM 990, PART VI, SECTION B, LINE 12C:

Board of trustees, college officers, and other employees complete a conflict-of-interest form on an annual basis. Forms are reviewed by the college president and the vice president of finance and administration. Board members with conflicts recuse themselves from related decisions.

FORM 990, PART VI, SECTION B, LINE 15:

The president's compensation is determined by the executive committee of the board of trustees after reviewing end of the year evaluations. The process is part of a two-day meeting in august. Salary is compared with cupa data for a comparison set of schools. Officer salaries are determined by the college president based on mid-year and end of year evaluations of satisfactory achievement of goals and objectives, and cupa data for a comparison group of schools for similar positions is also considered.

FORM 990, PART VI, SECTION C, LINE 19:

The college's governing documents, conflicts of interest policy and audited financial statements are available for inspection.

Filing and Contact Details

Filer

Filer Name
Presbyterian College
EIN
57-0314408
In Care Of
% JEFF SCACCIA
Phone
8648338205
Address
PO BOX 975, CLINTON, SC 29325

Signing Officer

Name
matthew vandenberg
Title
President
Phone
8648338205
Signed
2021-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
matthew vandenberg
Formed
1880
Legal Domicile
Sc
Voting Board Members
26
Independent Board Members
26
Employees
774
Volunteers
250

Preparer

Firm
Bdo USA Llp
Address
1100 Peachtree Street Suite 700, ATLANTA, GA 30309-4516
Preparer
Sandra L Feinsmith
Phone
4046886841
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

At presbyterian college, our philosophy is: offer a rigorous education with a built-in 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. Our students are inspired for life.

FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION 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 responsible contribution to our democratic society and the world community. These goals guide the college in its attempt to fulfill its mission: - to help students gain a basic knowledge of humanities, natural sciences, and social sciences; a special competence in one or more particular areas of study; and an ability to see these studies as part of the larger search for truth - to develop in students the ability to think clearly and independently, to make critical judgments, and to communicate effectively in both speech and writing - to foster in students an aesthetic appreciation of the arts and literature - to acquaint students with the teachings and values of the christian faith - to help students develop moral and ethical commitments, including service to others - to help students attain a sense of dignity, self-worth, and appreciation of other persons of diverse backgrounds - to encourage in students an appreciation for teamwork and for physical fitness and athletic skills that will contribute to lifelong health - to foster in students an appreciation of, and concern for, the environment and natural resources

Financial Statement Notes

PART III, LINE 4:

The college's collections are made up of artifacts of historical significance and art objects. These collections are held for public exhibitions, education, and research.

PART V, LINE 4:

The college's endowment consists of approximately 750 individual funds established for a variety of purposes including scholarships and support of academic and sports programs.

PART X, LINE 2:

The internal revenue service has determined the college, pcref and the foundation are all exempt from federal income taxes under section 501(a) of the internal revenue code as an organization described in section 501(c)(3). Due to this determination, the college, pcref and the foundation are also exempt from state income taxes. The college is subject to federal and state income tax on its net unrelated business income. The college adopted the provisions of the financial accounting standards board ("fasb") guidance on income taxes related to the accounting for uncertainty in income taxes. This guidance clarifies accounting for uncertainty in a tax position taken or expected to be taken by an entity and hence in the income taxes recognized in the consolidated financial statements. Essentially, the college would record a liability if it took a position regarding taxes due that was likely to be disputed and had a reasonable chance of being overruled by a taxing authority. Management believes there are no such positions as of june 30, 2021 or 2020 and accordingly, no liability has been accrued. The college is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

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IRS990/Desc0PRESBYTERIAN 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 A DIVERSE PATIENT POPULATION.
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$175$17.0$158$67.3$76.7$9.38
2022Summary only. Only limited summary data is available for this year.$170$10.3$159$88.9$75.1$13.9
2021Detailed filing. Detailed filing data is available for this year.$179$11.1$168$82.3$69.2$13.2
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$152$14.9$137$69.2$69.6$0.41
2019Summary only. Only limited summary data is available for this year.$148$11.5$137$68.9$76.2$7.21
2018Summary only. Only limited summary data is available for this year.$189$45.6$144$73.3$69.1$4.14
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$186$45.6$140$70.2$67.4$2.80
2016Detailed filing. Detailed filing data is available for this year.$171$42.8$128$64.6$65.1$0.49
2015Detailed filing. Detailed filing data is available for this year.$176$41.9$134$77.1$68.9$8.17
2014Detailed filing. Detailed filing data is available for this year.$169$41.4$128$83.0$65.9$17.1
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$164$41.7$123$64.7
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$157$42.3$114$63.4
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$160$42.6$117$64.1
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$149$42.3$107$58.8