Civic Intelligence

Carroll College

990 • Fiscal year 2016 • EIN 81-0231774

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 04, 2016

1601 N Benton AveHelena, MT 59625

(406) 447-4300

Siviq Scores

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

Liabilities / Assets

42nd percentile

0.26x

Higher debt load relative to assets than 42% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Liabilities / Revenue

44th percentile

0.45x

Higher debt load relative to revenue than 44% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Net Margin

59th percentile

5.0%

Higher net margin than 59% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Top Officer Pay

23rd percentile

$272,133

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 0.4% of source-year revenue.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Asset Growth

46th percentile

1.0%

Faster asset growth than 46% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Revenue Growth

19th percentile

-11%

Faster revenue growth than 19% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Assets

Flat

$105,736,589

Flat from 2016

Net Assets

Flat

$78,292,701

Flat from 2016

Liabilities

Flat

$27,443,888

Flat from 2016

Revenue

Flat

$61,521,151

Flat from 2016

Expenses

Flat

$58,455,263

Flat from 2016

Net Income

Flat

$3,065,888

Flat from 2016

Historical Trend

Balance Sheet Trend

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

$200M$150M$100M$50M$0Assets 2011: $66,690,398Liabilities 2011: $21,761,796Net Assets 2011: $44,928,6022011Assets 2012: $71,190,109Liabilities 2012: $22,673,906Net Assets 2012: $48,516,2032012Assets 2013: $80,955,381Liabilities 2013: $23,245,923Net Assets 2013: $57,709,4582013Assets 2014: $95,088,529Liabilities 2014: $26,201,872Net Assets 2014: $68,886,6572014Assets 2015: $104,730,603Liabilities 2015: $25,312,079Net Assets 2015: $79,418,5242015Assets 2016: $105,736,589Liabilities 2016: $27,443,888Net Assets 2016: $78,292,7012016Assets 2016: $105,736,589Liabilities 2016: $27,443,888Net Assets 2016: $78,292,7012016Assets 2017: $120,754,869Liabilities 2017: $26,298,323Net Assets 2017: $94,456,5462017Assets 2018: $123,200,814Liabilities 2018: $22,923,799Net Assets 2018: $100,277,0152018Assets 2019: $124,355,686Liabilities 2019: $22,506,506Net Assets 2019: $101,849,1802019Assets 2020: $125,734,988Liabilities 2020: $22,367,834Net Assets 2020: $103,367,1542020Assets 2021: $143,834,789Liabilities 2021: $21,293,491Net Assets 2021: $122,541,2982021Assets 2022: $136,506,006Liabilities 2022: $18,453,433Net Assets 2022: $118,052,5732022Assets 2023: $140,839,354Liabilities 2023: $17,332,737Net Assets 2023: $123,506,6172023Assets 2024: $153,021,793Liabilities 2024: $16,697,759Net Assets 2024: $136,324,0342024Assets 2025: $159,898,866Liabilities 2025: $15,983,856Net Assets 2025: $143,915,0102025

Highlighted filing

2016

Assets$105,736,589
Liabilities$27,443,888
Net Assets$78,292,701

Operations Trend

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

$80M$60M$40M$20M$0Expenses 2011: $52,698,4412011Expenses 2012: $46,275,5402012Expenses 2013: $50,136,5232013Revenue 2014: $57,547,176Expenses 2014: $51,849,601Net Income 2014: $5,697,5752014Revenue 2015: $68,860,560Expenses 2015: $55,982,541Net Income 2015: $12,878,0192015Revenue 2016: $61,521,151Expenses 2016: $58,455,263Net Income 2016: $3,065,8882016Revenue 2016: $61,521,151Expenses 2016: $58,455,263Net Income 2016: $3,065,8882016Revenue 2017: $71,154,503Expenses 2017: $59,837,235Net Income 2017: $11,317,2682017Revenue 2018: $64,353,083Expenses 2018: $60,188,842Net Income 2018: $4,164,2412018Revenue 2019: $61,222,792Expenses 2019: $59,993,385Net Income 2019: $1,229,4072019Revenue 2020: $64,086,619Expenses 2020: $59,040,779Net Income 2020: $5,045,8402020Revenue 2021: $63,598,809Expenses 2021: $58,054,766Net Income 2021: $5,544,0432021Revenue 2022: $65,024,048Expenses 2022: $62,060,628Net Income 2022: $2,963,4202022Revenue 2023: $66,514,020Expenses 2023: $64,931,468Net Income 2023: $1,582,5522023Revenue 2024: $75,695,875Expenses 2024: $70,614,677Net Income 2024: $5,081,1982024Revenue 2025: $73,077,952Expenses 2025: $70,479,479Net Income 2025: $2,598,4732025

Highlighted filing

2016

Revenue$61,521,151
Expenses$58,455,263
Net Income$3,065,888
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 4, 2016
Return Version
2015v2.1
Gross Receipts
$70,440,730
Mission and Program Overview

Mission

Carroll college is a catholic, diocesan, liberal arts college in the ecumenical tradition of the second vatican council.as a liberal arts school, carroll college acknowledges the practical role of preparing its students for a career, but it also affirms the traditional role of providing for the expansion of the intellectual, imaginative, and social awareness of its students. It is dedicated to providing for its students the means for their full realization of a dual goal of vocation and enlightenment. Thus, while providing substantial professional and pre-professional programs, the college encourages and expects all students to participate in a broad spectrum of academic disciplines.

Carroll college is a catholic, diocesan, liberal arts college in the ecumenical tradition of the second vatican council. Carroll college acknowledges the role of preparing its students for a career, and also affirms the role of providing for the expansion of the intellectual, imaginative, and social awareness of its students. Carroll college affirms its commitment to the principle of freedom of inquiry. Carroll college is committed to a policy of open participation by members of all religious faiths and all persons of good will in the total academic and spiritual experience of the college community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$37,985,259$39,775,327▲ $1,790,068
Investments in Publicly Traded Securities$37,785,503$32,880,870▼ $4,904,633
Investments Other Securities$10,587,479$10,897,082▲ $309,603
Savings and Temporary Cash Investments$4,050,830$6,284,105▲ $2,233,275
Pledges and Grants Receivable$8,755,476$6,143,592▼ $2,611,884
Accounts Receivable$2,868,108$2,661,273▼ $206,835
Prepaid Expenses and Deferred Charges$477,248$541,452▲ $64,204
Inventories for Sale or Use$293,052$303,417▲ $10,365
Total Assets$104,730,603$105,736,589▲ $1,005,986
Other Assets Total$1,927,648$6,249,471▲ $4,321,823
Liabilities
Mortgage Notes Payable Secured by Investment Property$17,405,757$18,182,320▲ $776,563
Other Liabilities$3,622,364$4,060,057▲ $437,693
Accounts Payable and Accrued Expenses$2,759,844$3,963,099▲ $1,203,255
Deferred Revenue$1,524,114$1,238,412▼ $285,702
Total Liabilities$25,312,079$27,443,888▲ $2,131,809
Net Assets / Fund Balance
Unrestricted Net Assets$25,973,270$29,360,838▲ $3,387,568
Permanently Rstr Net Assets$27,290,486$27,822,341▲ $531,855
Temporarily Rstr Net Assets$26,154,768$21,109,522▼ $5,045,246
Total Net Assets Fund Balance$79,418,524$78,292,701▼ $1,125,823
Total Liabilities and Net Assets / Fund Balance$104,730,603$105,736,589▲ $1,005,986

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$36,152,630$32,788,048$68,940,678
Equipment$2,396,138$10,117,435$12,513,573
Other Land Buildings$248,691$1,350,159$1,598,850
Land$977,868-$977,868
Other Assets Org$5,892,269--
Other Securities$4,328,811--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$50,922,019$616,977▼ $2,266,241$568,741$47,448,239
2014$49,773,739$2,362,938▲ $509,410$512,372$50,922,019
2013$41,970,823$1,370,397▲ $7,541,791$18,657$49,773,739
2012$32,596,006$1,603,009▲ $4,137,829$-4,403,629$41,970,823
2011$28,098,176$4,204,504▲ $398,103$-361,781$32,596,006
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thomas EvansPresidentFT$235,349$36,784$272,133
Lori PetersonV.p. Finance & AdministratFT$140,854$22,790$163,644
Karin OlsenV.p AdvancementFT$145,112$18,140$163,252
Thomas MccarvelV.p. Community RelationsFT$126,899$19,143$146,042
Antonina LococoV.p. Enrollment ServicesFT$111,673$13,047$124,720
James HardwickV.p. Community LivingFT$108,956$5,836$114,792
Colin IrvineV.p. Academic Affairs/deanFT$63,178$11,031$74,209

Highest Paid Contractors

ContractorServicesLocationCompensation
Dick Anderson Construction INCConstruction Contractor3424 E US HIGHWAY 12, Helena, MT 59601$6,695,244
Sodexo Operations LLCFood Service9801 WASHINGTONIAN BLVD, Gaithersburg, MD 20878$2,766,396
Royall & CompanyPrinting/publication Materials1920 E PARHAM RD, Richmond, VA 23228$494,554
Cta Architects EngineersArchitect316 N LAST CHANCE GULCH, Helena, MT 59601$480,397
Dsa PCArchitect55 W 14TH ST STE 103, Helena, MT 59601$350,758
Revenue and Support

Revenue Composition

Contributions and Grants
$7,270,390
Program Service Revenue
$52,445,877
Investment Income
$1,224,646
Other Revenue
$580,238
All Other Contributions
$5,536,469
Change in Net Assets
$3,065,888

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded22$1,392,313Market Value-gift Date
Other Non Cash Contri Table231$86,541Market Value-gift Da
Other Non Cash Contri Table1$21,600Market Value-gift Da
Other Non Cash Contri Table1$20,000Market Value-gift Da
Cars and Other Vehicles1$6,350Market Value-gift Date
Works of Art1$4,600Market Value-gift Date
Total Noncash Contributions257$1,531,404-

Audited Revenue Reconciliation

Revenue per Audited Statements
$39,797,275
Revenue Not Reported on Financial Statements
$21,723,876
Revenue Not Reported on Form 990
$-2,408,676
Other Revenue Adjustments
$21,723,876
Total Revenue per Audited Statements
$37,388,599
Total Revenue per Form 990
$61,521,151
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$23,028,786
Salaries, Compensation, and Employee Benefits$20,607,921
Other Expenses$14,818,556
Total Fundraising Expense$1,610,016
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$23,028,786--$23,028,786
Other Salaries and Wages$11,990,869$2,216,233$598,783$14,805,885
Depreciation Depletion$1,808,329$880,693$8,814$2,697,836
Conferences and Meetings$2,525,592$125,709-$2,651,301
Other Employee Benefits$1,298,694$1,276,949$61,502$2,637,145
Travel$2,054,136$149,385$92,540$2,296,061
Fees for Services Other$983,568$1,017,132$109,673$2,110,373
Office Expenses$1,243,274$607,052$180,062$2,030,388
Payroll Taxes$1,058,395$221,158$75,652$1,355,205
Current Officers, Directors, Trustees, and Key Employees$404,110$449,481$328,664$1,182,255
Occupancy$63,663$794,027-$857,690
Pension Plan Contributions$487,300$103,961$36,170$627,431
Interest$599,083$24,539-$623,622
Other Expenses$42,538$206,421$86,710$42,538
Total Functional Expenses$48,772,507$8,072,740$1,610,016$58,455,263

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$58,455,263
Total Expenses per Audited Statements$37,885,081
Expenses per Audited Statements$36,731,387
Expenses Not Reported on Financial Statements$21,723,876
Other Expense Adjustments$21,723,876
Expenses Not Reported on Form 990$1,153,694
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$79,193
Fundraising Gross Income$47,897
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Dinner and Auction$37,167$23,927-$23,927
Golf Tournament$19,515$16,865$14,531$2,334
Total Events$64,037$47,897$17,018$30,879
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Majority Owner Is on the Board of DirectorsPayments for Construction of Housing Facility for StudentsNo$6,695,244
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Fair Value of Swap Contract$3,033,836
Annuities Payable$943,463
Student Deposits$52,700
Other Liabilities$30,058

Bond Issues

BondIssuerIssuedIssue PricePurpose
CLewis and Clark County Montana2013-07-25$12,315,000Higher education revenue refunding bond series 2013b-trinity hall
BLewis and Clark County Montana2013-06-20$4,250,000Higher education revenue bond series 2013a-campus apartments
ALewis and Clark County Montana2008-07-18$2,800,000Higher education revenue note series 2008

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
C$12,315,000---
B$4,250,000--$85,000
A$2,800,000--$25,400

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
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 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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

Food services on campus are provided through sodexo america, llc. The terms of the contract are negotiated at arm's length to determine that the college will pay no more than the fair market value of the services provided.

Form 990, Part VI, Section B, Line 11

The form 990 tax return is prepared from the audited financial statements, and is reviewed by the vp of finance and administration and the college president before being signed and issued. A copy of the 990 tax return is posted on the carroll college intra-net for review.

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

Board members are required to complete a conflict of interest disclosure annually, and to indicate conflicts of interest prior to participating in the discussion of a topic. Any disclosure is noted in the board meeting minutes.

Form 990, Part VI, Section B, Line 15

Compensation of the college's president is determined by the board of trustees, using a peer group salary comparison of roughly 77 similar institutions. The college president's contract is reviewed by the full board of trustees. Compensation of all other staff and faculty is determined by college policy and financial resources, including a comparison to a peer group of roughly 77 similar institutions. Salary increases are approved by the board as part of approving the annual budget.

Form 990, Part VI, Section C, Line 19

The organizations governing documents, conflict of interest policy and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Carroll College
EIN
81-0231774
Phone
4064474300
Address
1601 N BENTON AVE, HELENA, MT 59625

Signing Officer

Name
Lori Peterson
Title
Vice President Finance
Phone
4064474300
Signed
2016-11-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lori Peterson
Formed
1909
Legal Domicile
Mt
Voting Board Members
23
Independent Board Members
23
Employees
1,162
Volunteers
201

Preparer

Firm
Anderson Zurmuehlen & Co Pc
Address
PO BOX 1040, HELENA, MT 59624
Preparer
Donald W Laine
Phone
4064421040
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in fair value of swap contract -629,341.

990 Part XII, Line 2C-oversight of Audit

Carroll has an audit committee that maintains oversight of the audit. No change to this process from prior year reporting.

Financial Statement Notes

PART III, LINE 4:

Various art pieces are displayed on campus.

PART V, LINE 4:

The endowment will be used to fund scholarships and general operations of the college and supports education.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Cost of goods sold 713,104. Rental expenses netted on return 346,649. Fundraising event expenses netted on return 79,193.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

College funded scholarships and grants 21,723,876.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Cost of goods sold 713,104. Rental expenses netted on return 346,649. Fundraising event expenses netted on return 79,193.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

College funded scholarships and grants 21,723,876.

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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/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt19VICE CHAIR
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IRS990/Form990PartVIISectionAGrp/TitleTxt21TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt24EX-OFFICIO
IRS990/Form990PartVIISectionAGrp/TitleTxt25V.P. COMMUNITY RELATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt26V.P. COMMUNITY LIVING
IRS990/Form990PartVIISectionAGrp/TitleTxt27V.P. ENROLLMENT SERVICES
IRS990/Form990PartVIISectionAGrp/TitleTxt28PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt29V.P. FINANCE & ADMINISTRAT
IRS990/Form990PartVIISectionAGrp/TitleTxt30V.P. ACADEMIC AFFAIRS/DEAN
IRS990/Form990PartVIISectionAGrp/TitleTxt31V.P ADVANCEMENT
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$160$16.0$144$73.1$70.5$2.60
2024Summary only. Only limited summary data is available for this year.$153$16.7$136$75.7$70.6$5.08
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$141$17.3$124$66.5$64.9$1.58
2022Detailed filing. Detailed filing data is available for this year.$137$18.5$118$65.0$62.1$2.96
2021Summary only. Only limited summary data is available for this year.$144$21.3$123$63.6$58.1$5.54
2020Detailed filing. Detailed filing data is available for this year.$126$22.4$103$64.1$59.0$5.05
2019Detailed filing. Detailed filing data is available for this year.$124$22.5$102$61.2$60.0$1.23
2018Detailed filing. Detailed filing data is available for this year.$123$22.9$100$64.4$60.2$4.16
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$121$26.3$94.5$71.2$59.8$11.3
2016Detailed filing. Detailed filing data is available for this year.$106$27.4$78.3$61.5$58.5$3.07
2016Summary only. Only limited summary data is available for this year.$106$27.4$78.3$61.5$58.5$3.07
2015Detailed filing. Detailed filing data is available for this year.$105$25.3$79.4$68.9$56.0$12.9
2014Detailed filing. Detailed filing data is available for this year.$95.1$26.2$68.9$57.5$51.8$5.70
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$81.0$23.2$57.7$50.1
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$71.2$22.7$48.5$46.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$66.7$21.8$44.9$52.7