Livingstone College in Salisbury, North Carolina (NC)

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Livingstone College
Employer Identification Number (EIN)560603922
Name of OrganizationLivingstone College
Address701 W Monroe St, Salisbury, NC 28144-5213
ActivitiesPrivate school, School, college, trade school, etc.
SubsectionEducational Organization
Ruling Date07/1951
DeductibilityContributions are deductible
FoundationHospital or medical research organization
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2012
Assets$50,000,000 to greater
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$54,094,278
Amount of Income$31,049,051
Form 990 Revenue Amount$31,049,051
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Undergraduate College (4-year)


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Amount of income in 2012: $31,049,051
Livingstone College: 

 $31,049,051
Other organizations performing similar types of work: 

 $7,141,807

Assets in 2012: $54,094,278
Livingstone College: 

 $54,094,278
Other organizations performing similar types of work: 

 $12,411,632

Expenses in 2002: $26,411,611
This organization: 

 $26,411,611
Other organizations performing similar types of work: 

 $32,460,273

Income to expenses ratio in 2002: 1.0
This organization: 

 1.0
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2002: 58.0%
Livingstone College: 

 58.0%
Other organizations performing similar types of work: 

 78.6%

Number of employees in 2002: 261
Livingstone College: 

 261
Other organizations performing similar types of work: 

 475

Employees paid over $50,000 in 2002: 11.9%
Livingstone College: 

 11.9%
Other organizations performing similar types of work: 

 14.3%

Grants share in income in 2002: 46.1%
This organization: 

 46.1%
Other organizations performing similar types of work: 

 13.9%

Financial snapshot ($)

Revenue for 2002

Assets at end of 2002

Expenses for 2002

Functional Expenses for 2002 ($)

Income-Producing Activities for 2002

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20012002
Total revenue$25,949,266$26,568,894
Contributions, gifts, grants, and similar amounts received$12,887,919$12,258,375
Contributions to donor advised funds
Direct public support$6,357,952$6,442,202
Indirect public support$0$0
Government contributions (grants)$6,529,967$5,816,173
Program service revenue including government fees and contracts$8,614,582$10,653,264
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$37,039$214,078
Dividends and interest from securities$19,481$5,525
Net rental income or (loss)$0$0
Gross rents$0$0
Less: rental expenses$0$0
Other investment income$-554,995$-621,982
Gain or (loss) from sales of assets other than inventory$0$0
Gross amount from sales of assets other than inventory$0$0
Less: cost or other basis and sales expenses$0$0
Net income or (loss) from special events and activities$0$0
Gross revenue$0$0
Less: direct expenses other than fundraising expenses$0$0
Gross profit or (loss) from sales of inventory$0$0
Gross sales of inventory, less returns and allowances$0$0
Less: cost of goods sold$0$0
Other revenue$4,945,240$4,059,634
Total expenses$24,043,590$26,411,611
Program services$12,283,278$15,310,219
Management and general$11,564,974$10,903,474
Fundraising$195,338$197,918
Payments to affiliates$0$0
Net assets or fund balances at end of year$17,856,352$20,143,252
Excess or (deficit) for the year$1,905,676$157,283
Net assets or fund balances at beginning of year$17,021,924$17,856,352
Other changes in net assets or fund balances$-1,071,248$2,129,617
Statement of Functional Expenses (for 2002)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$26,411,611$15,310,219$10,903,474$197,918
Grants paid from donor advised funds
Other grants and allocations$6,989,637
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$19,421,974$8,320,582$10,903,474$197,918
Balance Sheets
20012002
Total assets$35,318,877$40,290,155
Cash - non-interest-bearing$1,558,991$1,414,139
Savings and temporary cash investments$0$0
Accounts receivable less allowance for doubtful accounts$1,082,745$3,089,407
Pledges receivable less allowance for doubtful accounts$895,453$0
Grants receivable$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$0$0
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$709,147$819,402
Investments - publicly-traded securities
Investments - other securities$2,720,486$14,075,814
Investments - land, buildings, and equipment less accumulated depreciation$11,596,100$0
Investments - other$42,622$0
Land, buildings, and equipment less accumulated depreciation$16,713,333$20,891,393
Other assets, including program-related investments$0$0
Total liabilities$17,462,525$20,146,903
Accounts payable and accrued expenses$3,995,198$3,271,642
Grants payable$0$0
Deferred revenue$0$0
Loans from officers, directors, trustees, and key employees$0$0
Tax-exempt bond liabilities$0$0
Mortgages and other notes payable$13,467,327$16,875,261
Other liabilities$0$0
Total liabilities and net assets/fund balances$35,318,877$40,290,155
Total net assets or fund balances$17,856,352$20,143,252
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20012002
Total revenue$25,949,266$26,568,894
Total revenue, gains, and other support per audited financial statements$25,949,266$26,568,894
Other expenses$0$0
Net unrealized gains on investments$0$0
Donated services and use of facilities$0$0
Recoveries of prior year grants$0$0
Other$0$0
Other revenue$0$0
Investment expenses$0$0
Other$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20012002
Total expenses$24,043,590$26,411,611
Total expenses and losses per audited financial statements$24,043,590$26,411,611
Other revenue$0$0
Donated services and use of facilities$0$0
Prior year adjustments$0$0
Losses$0$0
Other$0$0
Other expenses$0$0
Investment expenses$0$0
Other$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?
Does the organization have a written conflict of interest policy?
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 2006261
Analysis of Income-Producing Activities (for 2002)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$3,657,255$10,653,264
Program service revenue
Program service revenue 1000000$000$0$10,653,264
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$214,078$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$5,525$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$-621,982$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$4,059,634$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2002)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2002)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$75,000$0$0
$75,000$0$0
$75,000$0$0
$72,000$0$0
$70,000$0$0
Total number of other employees paid over $50,00026
Statements About Activities (for 2002)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isSchool
Support Schedule
20002001
Total$0$0
Gifts, grants, and contributions received$0$0
Membership fees received$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0
Net income from unrelated business activities not included above$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0
Other income$0$0
Lobbying Expenditures by Electing Public Charities (for 2002)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$30,468,409
Contributions, Gifts, Grants and Other Similar Amounts$6,817,982
Program Service Revenue$23,327,506
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$58,997
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$263,924
Statement of Functional Expenses (for 2011)
Total functional expenses$28,188,167
Compensation of current officers, directors, trustees, and key employees$984,175
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$27,203,992
Balance Sheet (for 2011)
Total assets$55,549,373
Total liabilities$19,887,230
Tax-exempt bond liabilities$9,028,307
Secured mortgages and notes payable to unrelated third parties$8,331,058
Unsecured notes and loans payable to unrelated third parties$0
Other$2,527,865
Total net assets or fund balances$35,662,143
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:A school described in section 170(b)(1)(A)(ii)
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Colgate University Treasurers Office, Office Of Accounting & Control13 Oak Dr Noffice Of Acctg And Cont, Hamilton, NY 13346NY1954-06$366,289,184
2Carleton College1 N College St, Northfield, MN 55057-4001MN1938-06$172,438,886
3Elizabethtown College1 Alpha Dr, Elizabethtown, PA 17022-2298PA1963-04$126,356,267
4University Of Dallas1845 E Northgate Dr, Irving, TX 75062-4736TX1946-03$115,277,277
5Taylor University236 W Reade Ave, Upland, IN 46989-1001IN1953-03$96,936,580
6Hampshire College Trustees893 West St, Amherst, MA 01002-3372MA1965-12$92,373,288
7Mary Baldwin CollegeNew Street And Frederick Street, Staunton, VA 24401VA1933-01$64,493,374
8University Of Northwestern Ohio1441 N Cable Rd, Lima, OH 45805-1409OH1992-09$50,093,662
9Milligan CollegePO BOX 750, Milligan Coll, TN 37682-0750TN1947-04$36,962,354
10Bastyr University14500 Juanita Dr Ne, Kenmore, WA 98028-4966WA1978-06$34,969,033
11Lane College545 Lane Ave, Jackson, TN 38301-4501TN1954-04$31,248,062
12Livingstone College701 W Monroe St, Salisbury, NC 28144-5213NC1951-07$31,049,051
13Tougaloo College500 W County Line Rd, Tougaloo, MS 39174-9700MS1943-09$28,176,515
14Dana College1230 Fall Creek Rd, Lincoln, NE 68510NE1935-10$13,474,469
15Pennsylvania Institue Of Technology800 Manchester Ave, Media, PA 19063-4036PA1976-02$11,750,061
16Montreat College310 Gaither Cir, Montreat, NC 28757-8001NC1947-04$21,418,224
17Ambassador Baptist CollegePO BOX 158, Lattimore, NC 28089-0158NC1989-12$1,192,860
18Heritage Bible CollegePO BOX 1628, Dunn, NC 28335-1628NC1980-03$843,501
19Barber-Scotia College Inc145 Cabarrus Ave W, Concord, NC 28025-5143NC1953-01$610,810
20Carolina Bible College Of Fayetteville Inc817 S Mcpherson Church Rd, Fayetteville, NC 28303-5157NC1989-01$546,719
Number of organizations performing similar types of work
Alabama4
Arkansas1
Arizona3
California10
Colorado2
Connecticut1
District of Columbia1
Delaware1
Florida5
Georgia2
Hawaii2
Iowa4
Idaho3
Illinois6
Indiana7
Kansas7
Kentucky2
Massachusetts3
Maryland3
Maine1
Michigan6
Minnesota2
Missouri5
Mississippi4
Montana1
North Carolina7
Nebraska2
New Jersey2
New Mexico1
New York7
Ohio6
Oklahoma2
Oregon1
Pennsylvania4
South Carolina5
South Dakota4
Tennessee8
Texas5
Virginia4
Vermont4
Washington4
West Virginia1
International1
Total154

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