Saint Augustines College in Raleigh, North Carolina (NC)

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Saint Augustines College
Employer Identification Number (EIN)560547478
Name of OrganizationSaint Augustines College
In Care of NameLeon Scott
Address1315 Oakwood Ave, Raleigh, NC 27610-2247
ActivitiesSchool, college, trade school, etc.
SubsectionEducational Organization
Ruling Date05/1946
DeductibilityContributions are deductible
FoundationSchool
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$54,623,793
Amount of Income$47,421,558
Form 990 Revenue Amount$47,421,558
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Undergraduate College (4-year)


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Amount of income in 2012: $47,421,558
Saint Augustines College: 

 $47,421,558
Other organizations performing similar types of work: 

 $62,051,450

Assets in 2012: $54,623,793
This organization: 

 $54,623,793
Other organizations performing similar types of work: 

 $106,023,627

Expenses in 2002: $24,617,634
This organization: 

 $24,617,634
Other organizations performing similar types of work: 

 $41,301,867

Income to expenses ratio in 2002: 1.0
This organization: 

 1.0
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2002: 68.0%
Saint Augustines College: 

 68.0%
Other organizations performing similar types of work: 

 83.3%

Number of employees in 2002: 447
This organization: 

 447
Other organizations performing similar types of work: 

 560

Employees paid over $50,000 in 2002: 9.8%
Saint Augustines College: 

 9.8%
Other organizations performing similar types of work: 

 15.6%

Grants share in income in 2002: 40.9%
This organization: 

 40.9%
Other organizations performing similar types of work: 

 15.1%

Financial snapshot ($)

Revenue for 2002

Assets at end of 2002

Expenses for 2002

Functional Expenses for 2002 ($)

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200020012002
Total revenue$20,107,730$22,016,791$25,119,280
Contributions, gifts, grants, and similar amounts received$15,193,469$15,847,627$10,275,216
Contributions to donor advised funds
Direct public support$0$0$0
Indirect public support$3,406,276$3,745,100$4,010,304
Government contributions (grants)$11,787,193$12,102,527$6,264,912
Program service revenue including government fees and contracts$0$0$6,469,101
Membership dues and assessments$0$0$0
Interest on savings and temporary cash investments$-605,724$48,108$0
Dividends and interest from securities$0$6,121,056$594,022
Net rental income or (loss)$0$0$0
Gross rents$0$0$0
Less: rental expenses$0$0$0
Other investment income$0$0$0
Gain or (loss) from sales of assets other than inventory$0$0$0
Gross amount from sales of assets other than inventory$0$0$0
Less: cost or other basis and sales expenses$0$0$0
Net income or (loss) from special events and activities$0$0$0
Gross revenue$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0
Less: cost of goods sold$0$0$0
Other revenue$5,519,985$0$7,780,941
Total expenses$23,153,979$22,777,400$24,617,634
Program services$14,666,533$13,609,747$16,748,797
Management and general$8,018,312$8,669,682$7,272,349
Fundraising$469,134$497,971$596,488
Payments to affiliates$0$0$0
Net assets or fund balances at end of year$21,750,888$20,989,999$20,835,583
Excess or (deficit) for the year$-3,046,249$-760,609$501,646
Net assets or fund balances at beginning of year$24,797,137$21,750,888$20,989,999
Other changes in net assets or fund balances$0$-280$-656,062
Statement of Functional Expenses (for 2002)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$24,617,634$16,748,797$7,272,349$596,488
Grants paid from donor advised funds
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$138,037$0$138,037$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$11,451,638$8,618,660$2,454,609$378,369
Pension plan contributions not included above$305,838$207,970$91,751$6,117
Employee benefits not included above$895,704$609,079$268,711$17,914
Payroll taxes$835,675$568,258$250,703$16,714
Professional fundraising fees$32,099$0$0$32,099
Accounting fees$294,869$0$294,869$0
Legal fees$168,989$0$168,989$0
Supplies$534,062$396,172$126,437$11,453
Telephone$457,410$21,124$427,428$8,858
Postage and shipping$69,599$42,787$17,159$9,653
Occupancy$1,083,694$826,123$241,588$15,983
Equipment rental and maintenance$892,901$689,666$193,390$9,845
Printing and publications$75,285$30,170$22,673$22,442
Travel$527,062$416,174$99,916$10,972
Conferences, conventions, and meetings$0$0$0$0
Interest$1,106,912$0$1,106,912$0
Depreciation, depletion, etc.$1,548,351$1,052,879$464,505$30,967
Other expenses not covered above$4,199,509$3,269,735$904,672$25,102
Balance Sheets
200020012002
Total assets$43,897,315$43,659,648$45,312,308
Cash - non-interest-bearing$1,762,276$663,737$1,088,692
Savings and temporary cash investments$0$0$0
Accounts receivable less allowance for doubtful accounts$326,665$479,597$1,229,487
Pledges receivable less allowance for doubtful accounts$762,455$1,690,868$2,169,491
Grants receivable$217,924$164,258$460,169
Receivables from current and former officers, directors, trustees, and key employees$0$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$475,859$630,829$1,270,165
Inventories for sale or use$346,782$121,738$113,845
Prepaid expenses and deferred charges$547,930$587,254$847,805
Investments - publicly-traded securities
Investments - other securities$19,376,339$17,698,323$17,208,159
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0
Investments - other$95,141$47,302$0
Land, buildings, and equipment less accumulated depreciation$19,985,944$20,372,980$19,916,180
Other assets, including program-related investments$0$1,202,762$1,008,315
Total liabilities$22,146,427$22,669,649$24,476,725
Accounts payable and accrued expenses$3,812,974$4,251,528$5,649,001
Grants payable$0$0$0
Deferred revenue$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0
Tax-exempt bond liabilities$17,794,603$18,064,830$18,626,910
Mortgages and other notes payable$538,850$353,291$200,814
Other liabilities$0$0$0
Total liabilities and net assets/fund balances$43,897,315$43,659,648$45,312,308
Total net assets or fund balances$21,750,888$20,989,999$20,835,583
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200020012002
Total revenue$20,107,730$22,016,791$25,119,280
Total revenue, gains, and other support per audited financial statements$25,995,980$27,791,533$25,119,280
Other expenses$5,888,250$5,774,742$0
Net unrealized gains on investments$0$0$0
Donated services and use of facilities$0$0$0
Recoveries of prior year grants$0$0$0
Other$5,888,250$5,774,742$0
Other revenue$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200020012002
Total expenses$23,153,979$22,777,400$24,617,634
Total expenses and losses per audited financial statements$23,153,979$22,777,400$24,817,634
Other revenue$0$0$0
Donated services and use of facilities$0$0$0
Prior year adjustments$0$0$0
Losses$0$0$0
Other$0$0$0
Other expenses$0$0$0
Investment expenses$0$0$0
Other$0$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?No
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, 2006447
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$0$14,844,064
Program service revenue
Program service revenue 1000000$000$0$14,844,064
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$000$0$0
Dividends and interest from securities000000$000$0$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$000$0$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$000$0$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
$77,044$0$0
$72,243$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,00042
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
199920002001
Total$0$0$0
Gifts, grants, and contributions received$0$0$0
Membership fees received$0$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$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$0
Net income from unrelated business activities not included above$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$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$0
Other income$0$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$46,556,443
Contributions, Gifts, Grants and Other Similar Amounts$10,020,410
Program Service Revenue$35,679,573
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$418,858
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$437,602
Statement of Functional Expenses (for 2011)
Total functional expenses$43,577,661
Compensation of current officers, directors, trustees, and key employees$926,053
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$42,651,608
Balance Sheet (for 2011)
Total assets$54,131,483
Total liabilities$20,327,950
Tax-exempt bond liabilities$9,751,025
Secured mortgages and notes payable to unrelated third parties$6,384,838
Unsecured notes and loans payable to unrelated third parties$0
Other$4,192,087
Total net assets or fund balances$33,803,533
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
1Swarthmore College500 College Ave, Swarthmore, PA 19081-1306PA1950-03$1,033,095,783
2Pomona College150 E Eighth St Pendleton Bldg 108, Claremont, CA 91711CA1954-12$800,260,729
3Davidson CollegePO BOX 7163, Davidson, NC 28035-7163NC1951-01$583,350,599
4Sarah Lawrence College8625 Andrew Carnegie Blvd- Corp Tax, Charlotte, NC 28262NC1973-01$93,381,655
5Lenoir-Rhyne UniversityPO BOX 7164, Hickory, NC 28603-7164NC1945-05$71,137,327
6Guilford College5800 W Friendly Ave, Greensboro, NC 27410-4108NC1975-10$67,012,774
7Shaw University, Deborah Latimore118 E South St, Raleigh, NC 27601-2341NC1956-08$62,051,450
8Warren Wilson CollegePO BOX 9000, Asheville, NC 28815-9000NC1962-09$56,968,735
9Mount Olive College Incorporated634 Henderson St, Mount Olive, NC 28365-1263NC1959-10$53,332,791
10Mars Hill College IncPO BOX 370, Mars Hill, NC 28754-0370NC1946-06$51,778,821
11Catawba College2300 W Innes St, Salisbury, NC 28144-2441NC1941-12$48,923,621
12Saint Augustines College1315 Oakwood Ave, Raleigh, NC 27610-2247NC1946-05$47,421,558
13Salem Academy & College601 S Church Street, Winston Salem, NC 27101NC1951-10$38,411,942
14Barton CollegePO BOX 5000, Wilson, NC 27893-7000NC1952-03$38,176,002
15Greensboro College Inc815 W Market St, Greensboro, NC 27401-1823NC1976-11$30,655,022
16North Carolina Wesleyan College3400 N Wesleyan Blvd, Rocky Mount, NC 27804-8699NC1961-08$30,538,468
17Brevard College Corporation1 Brevard College Dr, Brevard, NC 28712-4283NC1952-05$27,214,435
18Lees-Mcrae College IncorporatedPO BOX 128, Banner Elk, NC 28604-0128NC1959-02$26,594,508
19Bennett College900 E Washington St, Greensboro, NC 27401-3239NC1977-07$21,622,700
20Mid-Atlantic Christian University Inc715 N Poindexter St, Elizabeth Cty, NC 27909-4054NC1977-04$3,037,091
Number of organizations performing similar types of work
Alabama8
Arkansas8
California17
Connecticut5
District of Columbia1
Florida12
Georgia13
Iowa16
Idaho2
Illinois21
Indiana16
Kansas8
Kentucky10
Louisiana2
Massachusetts28
Maryland7
Maine6
Michigan14
Minnesota9
Missouri11
Mississippi5
Montana2
North Carolina18
North Dakota2
Nebraska6
New Hampshire7
New Jersey8
New Mexico4
Nevada1
New York33
Ohio26
Oklahoma3
Oregon3
Pennsylvania37
Rhode Island1
South Carolina10
South Dakota4
Tennessee12
Texas9
Virginia12
Vermont5
Washington2
Wisconsin11
West Virginia6
International2
Total443

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