Southeastern Bible College

“No committee has the authority to act on behalf of the board of directors.”

“Upon completion of the college's Form 990, copies of the Form 990 are provided to each member of the board of trustees. The board members review the tax return and are free to ask questions or engage in discussion regarding any topic covered in the return at the next board of trustees meeting. Once the governing body has reviewed and approved the form 990, the return is filed with the Internal Revenue Service.”

“The Board of Trustees provides a questionnaire to be completed by all trustees at their annual meeting. The Audit Committee of the Board reviews the questionnaires to determine if there is any conflict of interest. The conflict of interest policy is included in the employee handbook. Due to the small size of the staff, the administration is aware of anyone who may have a conflict of interest within the institution. It is the responsibility of the employees or officers to immediately notify the administration of any potential conflict of interest. As of May 31, 2018, the organization was not aware of any conflicts of interest.”

“Compensation for officers, key employees, and management is determined on a yearly basis. Before compensation is set, the board of trustees examines the type and amount of work performed by the employee while taking into account the college's prior year income.”

“The college makes all governing documents available to the public upon request.”

“Transfer of all assets and liabilities to Piedmont International University EIN# 56-0594591 -4,163,625.”

“The College ceased providing educational or other programs effective May 31, 2017 due to continuing liquidity problems arising from decreases in tuition and unrestricted contributions over several years. In September of 2017, the College entered into a plan of merger with Piedmont International University, Inc. ("Piedmont"), an established provider of quality, Bible-centered higher education based in North Carolina. Upon completion of the merger, Piedmont will be the surviving university. On October 31, 2017, Piedmont obtained all of the College's assets, including cash, endowment funds, property and equipment and any other assets of the College. Piedmont also assumed the liabilities of the College, including notes payable, long term debt, accounts payable, and any other liabilities.”