CATAWBA COLLEGE

EIN: 560530251 501(c)(3) Education

SALISBURY, NC

Total Revenue
$310,506,126
Total Expenses
$95,170,917
Total Assets
$833,178,617
Net Assets
$818,480,997
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1851
Legal Domicile
NC
Principal Officer
BOB WALLETT
Phone
7046454853
Tax Period
2024-06-01 to 2025-05-31

CATAWBA COLLEGE, founded in 1851, is a major nonprofit in the Education sector that reported $310.5M in total revenue in fiscal year 2024. Revenue surged 159% from the prior year, signaling strong growth momentum. The organization ran a surplus of $215.3M, a strong 69% operating margin.

Mission

CATAWBA COLLEGE IS COMMITTED TO PROVIDING STUDENTS AN EDUCATION RICH IN PERSONAL ATTENTION THAT BLENDS THE KNOWLEDGE AND COMPETENCIES OF LIBERAL STUDIES WITH CAREER PREPARATION. CATAWBA COLLEGE DRAWS STRENGTH FROM JUDEO-CHRISTIAN VALUES, SUSTAINS A DYNAMIC COMMUNITY OF LEARNERS AND SEEKS TO UNITE A DIVERSE POPULATION OF STUDENTS, FACULTY AND STAFF AS ACTIVE CO-PARTICIPANTS IN SCHOLARSHIP AND SERVICE. CATAWBA COLLEGE PREPARES STUDENTS TO REACH THEIR HIGHEST POTENTIAL WHILE BECOMING RESPONSIBLE CITIZENS WITH ZEAL TO ENRICH HUMAN LIFE.

Program Service Accomplishments

Program 1
Expenses: $66,860,554 Revenue: $50,776,155

CATAWBA COLLEGE IS A PRIVATE, COEDUCATIONAL, AND RESIDENTIAL INSTITUTION OFFERING CAREER PREPARATION GROUNDED IN THE LIBERAL ARTS TRADITION. WE OFFER OVER 70 ACADEMIC FIELDS OF STUDY INCLUDING STRONG...

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CATAWBA COLLEGE IS A PRIVATE, COEDUCATIONAL, AND RESIDENTIAL INSTITUTION OFFERING CAREER PREPARATION GROUNDED IN THE LIBERAL ARTS TRADITION. WE OFFER OVER 70 ACADEMIC FIELDS OF STUDY INCLUDING STRONG SCIENCE AND PRE-PROFESSIONAL PROGRAMS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $254,774,703
Program Service Revenue $50,776,155
Investment Income $4,859,624
Other Revenue $95,644
TOTAL REVENUE $310,506,126

Expense Breakdown

Grants Paid $30,113,533
Salaries & Benefits $29,680,227
Fundraising Expenses $1,632,824
Program Expenses $66,860,554
Other Expenses $35,354,657
TOTAL EXPENSES $95,170,917

Year-over-Year Comparison

2024 2023 Change
Revenue $310,506,126 $119,840,475 +1.6%
Expenses $95,170,917 $78,537,233 +0.2%
Net Income $215,335,209 $41,303,242 +4.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
20
Independent Members
20
Employees
765
Volunteers
25

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
9
$993,478
Total Directors
25
$0
Key Employees
3
$604,932
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BARBARA L MARSHALL VICE CHAIR (TERM'D 3/25/25)/CHAIR (BEGAN 3/25/25) 1.00
Officer Director
$0 $0 $0
ROBERT B ARNOLD JR CHAIR (TERM'D 3/25/25) 1.00
Officer Director
$0 $0 $0
GERALD FRANCIS DIRECTOR/VICE CHAIR (BEGAN 3/25/25) 1.00
Officer Director
$0 $0 $0
RONALD J MACCARONI TREASURER 1.00
Officer Director
$0 $0 $0
DR RANDALL S CRUMPLER SECRETARY 1.00
Officer Director
$0 $0 $0
C SHUFORD ABERNETHY III DIRECTOR (TERM'D 3/25/25) 1.00
Director
$0 $0 $0
GREGORY M ALCORN DIRECTOR (TERM'D 3/25/25) 1.00
Director
$0 $0 $0
MARK ALEXANDER DIRECTOR 1.00
Director
$0 $0 $0
GWIN BARR DIRECTOR 1.00
Director
$0 $0 $0
GARY BLABON DIRECTOR 1.00
Director
$0 $0 $0
TOM BURDETTE DIRECTOR 1.00
Director
$0 $0 $0
TINA COSTINO JONES DIRECTOR 1.00
Director
$0 $0 $0
JAMES CRUMEL DIRECTOR 1.00
Director
$0 $0 $0
THOMAS STOKES DENNARD DIRECTOR (TERM'D 3/25/25) 1.00
Director
$0 $0 $0
BART EDGE DIRECTOR 1.00
Director
$0 $0 $0
WILLIAM M GRAHAM DIRECTOR 1.00
Director
$0 $0 $0
GLEN LLOYD DIRECTOR (BEGAN 3/25/25) 1.00
Director
$0 $0 $0
NICK MEANS DIRECTOR (BEGAN 3/25/25) 1.00
Director
$0 $0 $0
MARVIN MOORE DIRECTOR 1.00
Director
$0 $0 $0
RICHARD SEIWELL DIRECTOR 1.00
Director
$0 $0 $0
FRED J STANBACK JR DIRECTOR 1.00
Director
$0 $0 $0
LEE SYRIA DIRECTOR 1.00
Director
$0 $0 $0
BILL WAGONER DIRECTOR 1.00
Director
$0 $0 $0
MONA WALLACE DIRECTOR (TERM'D 3/25/25) 1.00
Director
$0 $0 $0
SALLY WHITNEY DIRECTOR 1.00
Director
$0 $0 $0
DAVID P NELSON PRESIDENT 40.00
Officer
$328,357 $33,495 $361,852
MONICA COWART EVP & PROVOST 40.00
Officer
$244,900 $20,011 $264,911
MARGARET K DEES VP OF DEVELOPMENT 40.00
Officer
$228,379 $2,447 $230,826
SANDRA QUAYE VP PF FINANCE AND ADMIN 40.00
Officer
$126,500 $9,389 $135,889
IMRAN G CHOWDHURY DEAN OF SCHOOL OF BUSINESS 40.00
Key Emp
$221,583 $16,583 $238,166
LEE BALL VP OF SUSTAINABILITY/EXEC 40.00
Key Emp
$176,353 $15,788 $192,141
CAYCE C WILL CHIEF INFORMATION OFFICER 40.00
Key Emp
$158,105 $16,520 $174,625
JOHN E MORRISON EXECUTIVE DIRECTOR, CLEAN 40.00
Highest
$149,817 $15,137 $164,954
MICHELLE P CADDIGAN VP OF ATHLETICS 40.00
Highest
$147,982 $7,640 $155,622
VALERIE RAKES CHAIR OF NURSING DEPARTMENT 40.00
Highest
$145,191 $16,520 $161,711
CHRISTINE LYNN ASSOC. DEAN OF SCHOOL OF BUSINESS 40.00
Highest
$143,950 $7,203 $151,153
JARED TICE SVP & CHIEF STRATEGY OFFICER 40.00
Highest
$140,977 $14,715 $155,692
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $310,506,126 $95,170,917 $833,178,617 $215,335,209
2024 $119,840,475 $78,537,233 $557,500,506 $41,303,242
2023 $98,707,113 $67,931,220 $442,162,950 $30,775,893
2022 $275,797,439 $61,529,338 $404,243,208 $214,268,101
2021 $93,252,723 $57,550,510 $214,355,781 $35,702,213
2020 $66,906,876 $59,922,353 $180,170,732 $6,984,523
2019 $75,906,143 $59,206,506 $165,328,150 $16,699,637
2018 $64,281,199 $57,693,468 $150,476,316 $6,587,731
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