Civic Intelligence

The Belhaven College Foundation

990 • Fiscal year 2013 • EIN 64-0887036

Jan 01, 2013 to Dec 31, 2013 • Filed on Sep 23, 2014

1500 Peachtree St39202

(601) 968-8778

Siviq Scores

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

Liabilities / Assets

98th percentile

5.44x

Higher debt load relative to assets than 98% of similar nonprofits.

2013 filings • 501(c)3 • <$500k nonprofits • Source year 2013

Liabilities / Revenue

100th percentile

86.96x

Higher debt load relative to revenue than 100% of similar nonprofits.

2013 filings • 501(c)3 • <$500k nonprofits • Source year 2013

Net Margin

91st percentile

45%

Higher net margin than 91% of similar nonprofits.

2013 filings • 501(c)3 • <$500k nonprofits • Source year 2013

Top Officer Pay

100th percentile

$429,366

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 1554.9% of source-year revenue.

2013 filings • 501(c)3 • <$500k nonprofits • Source year 2013

Asset Growth

58th percentile

6.3%

Faster asset growth than 58% of similar nonprofits.

2013 filings • 501(c)3 • <$500k nonprofits • Annualized from 2012 to 2013

Revenue Growth

1st percentile

-96%

Faster revenue growth than 1% of similar nonprofits.

2013 filings • 501(c)3 • <$500k nonprofits • Annualized from 2012 to 2013

Assets

Up

$441,673

Up $26,195 (+6.3%) from 2012

Net Assets

Up

-$1,959,447

Up $33,371 (+1.7%) from 2012

Liabilities

Down

$2,401,120

Down $7,176 (-0.3%) from 2012

Revenue

Down

$27,613

Down $649,361 (-96%) from 2012

Expenses

Down

$15,125

Down $65,592 (-81%) from 2012

Net Income

Down

$12,488

Down $583,769 (-98%) from 2012

Historical Trend

Balance Sheet Trend

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

$4.0M$2.0M$0-$2.0M-$4.0MAssets 2010: -$99,431Liabilities 2010: $2,408,296Net Assets 2010: -$2,507,7272010Assets 2011: -$163,920Liabilities 2011: $2,409,620Net Assets 2011: -$2,573,5402011Assets 2012: $415,478Liabilities 2012: $2,408,296Net Assets 2012: -$1,992,8182012Assets 2013: $441,673Liabilities 2013: $2,401,120Net Assets 2013: -$1,959,4472013Assets 2014: $0Liabilities 2014: $0Net Assets 2014: $02014

Highlighted filing

2013

Assets$441,673
Liabilities$2,401,120
Net Assets-$1,959,447

Operations Trend

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

$800K$600K$400K$200K$0-$200KRevenue 2010: -$63,574Expenses 2010: $13,040Net Income 2010: -$76,6142010Expenses 2011: $19,2292011Revenue 2012: $676,974Expenses 2012: $80,717Net Income 2012: $596,2572012Revenue 2013: $27,613Expenses 2013: $15,125Net Income 2013: $12,4882013Revenue 2014: $13,937Expenses 2014: $7,096Net Income 2014: $6,8412014

Highlighted filing

2013

Revenue$27,613
Expenses$15,125
Net Income$12,488
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Sep 23, 2014
Return Version
2013v3.0
Gross Receipts
$244,692
Mission and Program Overview

Mission

To promote, manage, support, maintain,foster and perpetuate, within legal limitations, christian education by providing assistance to belhaven college and other charitable organizations.

To promote, manage, support, maintain, foster and perpetuate, within legal limitations, christian education by providing assistance to belhaven college.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$349,185$383,588▲ $34,403
Intangible Assets$37,488$33,284▼ $4,204
Cash and Non-Interest-Bearing Accounts$28,805$24,801▼ $4,004
Total Assets$415,478$441,673▲ $26,195
Liabilities
Other Liabilities$2,408,296$2,401,120▼ $7,176
Total Liabilities$2,408,296$2,401,120▼ $7,176
Net Assets / Fund Balance
Permanently Rstr Net Assets$243,906$243,906→ $0
Temporarily Rstr Net Assets$192,473$236,198▲ $43,725
Unrestricted Net Assets$-2,429,197$-2,439,551▼ $10,354
Total Net Assets Fund Balance$-1,992,818$-1,959,447▲ $33,371
Total Liabilities and Net Assets / Fund Balance$415,478$441,673▲ $26,195

Asset Categories

AssetBook ValueDepreciationBasis
Closely Held Equity Interests$383,588--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$349,185-▲ $36,550-$383,588
2012$332,651-▲ $18,421-$349,185
2011$350,857-▼ $16,455-$332,651
2010$359,998-▼ $7,398-$350,857
2009$307,408-▲ $54,340-$359,998
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Virginia HendersonSec-treasurer/director-$124,200$124,200
Jeff RickelsDirector-$104,150$104,150
Larry MillsExecutive DirectorPT$67,887$67,887
David PotvinDirector-$59,373$59,373

Board Members and Trustees

NameTitle
Dr Roger ParrottChairman/director
Alan WaltersDirector
Kevin RussellDirector
T Calvin WellsDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$27,613
Other Revenue
$0
Change in Net Assets
$12,488
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$11,125
Grants and Similar Amounts Paid$4,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses-$4,774-$4,774
Depreciation Depletion-$4,204-$4,204
Grants to Domestic Orgs$4,000--$4,000
Fees for Service Investment Mgmnt Fees-$2,147-$2,147
Total Functional Expenses$4,000$11,125$0$15,125
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
Due to Belhaven College$2,343,953
Liabilities for Gift Annuities$57,167
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
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 4

The board of directors of belhaven college foundation voted on december 16, 2013 that the foundation be liquidated and its assets be distributed to belhaven university, and that belhaven college be dissolved. This will be accomplished subsequent to december 31, 2013.

Form 990, Part VI, Section B, Line 11

A copy of the 990 is provided to all board members for their review and approval before it is filed by the organization.

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

All officers and directors are required to disclose any conflicts of interest by completing a questionaire annually. The organization is able to consistently monitor and enforce compliance with the conflict of interest policy through review and discussion of the questionaires as submitted.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request. All requests are handled timely by the vice chair and/or the person who holds the books and records of the organization.

Part VI Section A Question 10

A copy of form 990 is provided to each member of the governing body for their review and approval before the form 990 is signed and filed by the vice chair.

Filing and Contact Details

Filer

EIN
64-0887036
Phone
6019688778

Signing Officer

Name
Virginia Henderson
Title
Director
Phone
6019688778
Signed
2014-09-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Larry Mills
Formed
1997
Legal Domicile
Ms
Voting Board Members
7
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Preparer
Alan Arrington CPA
Phone
6014992400
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

The endowment funds are restricted for scholarships for belhaven college.

PART X, LINE 2:

The organization does not have financial statements as of 12/31/13 and therefore does not have a disclosure of uncertain tax positions under fin 48.

Schedule D Part VII Investments - Other Securities

Other - endowment fund 383,588 fmv

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ENDOWMENT FUNDS ARE RESTRICTED FOR SCHOLARSHIPS FOR BELHAVEN COLLEGE.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT HAVE FINANCIAL STATEMENTS AS OF 12/31/13 AND THEREFORE DOES NOT HAVE A DISCLOSURE OF UNCERTAIN TAX POSITIONS UNDER FIN 48.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2OTHER - ENDOWMENT FUND 383,588 FMV
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D PART VII INVESTMENTS - OTHER SECURITIES
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt0383588
IRS990ScheduleD/TotalLiabilityAmt02401120
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION KEEPS DETAILED RECORDS OF PAYMENTS FOR GRANTS AND ASSISTANCE, INCLUDING THE EIN AND IRC CODE OF THE RECIPIENT ORGANIZATION AND THE PURPOSE OF THE GRANT/ASSISTANCE.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0318052
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1142500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt032314
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt111400
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt079000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0DR ROGER PARROTT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1KEVIN RUSSELL
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CHAIRMAN/DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0429366
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1153900
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS OF BELHAVEN COLLEGE FOUNDATION VOTED ON DECEMBER 16, 2013 THAT THE FOUNDATION BE LIQUIDATED AND ITS ASSETS BE DISTRIBUTED TO BELHAVEN UNIVERSITY, AND THAT BELHAVEN COLLEGE BE DISSOLVED. THIS WILL BE ACCOMPLISHED SUBSEQUENT TO DECEMBER 31, 2013.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE 990 IS PROVIDED TO ALL BOARD MEMBERS FOR THEIR REVIEW AND APPROVAL BEFORE IT IS FILED BY THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL OFFICERS AND DIRECTORS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST BY COMPLETING A QUESTIONAIRE ANNUALLY. THE ORGANIZATION IS ABLE TO CONSISTENTLY MONITOR AND ENFORCE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY THROUGH REVIEW AND DISCUSSION OF THE QUESTIONAIRES AS SUBMITTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. ALL REQUESTS ARE HANDLED TIMELY BY THE VICE CHAIR AND/OR THE PERSON WHO HOLDS THE BOOKS AND RECORDS OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A COPY OF FORM 990 IS PROVIDED TO EACH MEMBER OF THE GOVERNING BODY FOR THEIR REVIEW AND APPROVAL BEFORE THE FORM 990 IS SIGNED AND FILED BY THE VICE CHAIR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART VI SECTION A QUESTION 10
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine10BELHAVEN UNIVERSITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0640303069
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0TO PROVIDE HIGHER EDUCATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine101500 PEACHTREE STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/City0JACKSON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/State0MS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCode039202
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt02343953
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0YEAR END BALANCE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine10BELHAVEN UNIVERSITY
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0E
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0192473
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0236198
IRS990/TempOrPermanentEndowmentsInd01
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0415478
IRS990/TotalAssetsEOYAmt0441673
IRS990/TotalAssetsGrp/BOYAmt0415478
IRS990/TotalAssetsGrp/EOYAmt0441673
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt011125
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt04000
IRS990/TotalFunctionalExpensesGrp/TotalAmt015125
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02408296
IRS990/TotalLiabilitiesEOYAmt02401120
IRS990/TotalLiabilitiesGrp/BOYAmt02408296
IRS990/TotalLiabilitiesGrp/EOYAmt02401120
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1992818
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1959447
IRS990/TotalOtherCompensationAmt0147551
IRS990/TotalProgramServiceExpensesAmt04000
IRS990/TotalReportableCompFromOrgAmt00

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