2023-04-04T14:42:42-05:00 2022-05-31 BDO USA LLP 421 FAYETTEVILLE STREET SUITE 300 RALEIGH NC 27601 990 2021-06-01 560556753 Lenoir-Rhyne University % JEREMY SHREVE LENO 8283287100 PO Box 7164 Hickory NC 286037164 Jeremy Shreve VP of Finance&Admin 8283287100 2023-04-04 true Jeremy Shreve 999009999 Sandra L Feinsmith P01064157 9192781936 2023-04-04 3 2021 2023-04-26 12:10:37Z Frederick K Whitt PO Box 7164 Hickory NC 286037164 141118179 false X WWW.LR.EDU X 1905 NC SEE SCHEDULE O 28 27 1008 27 -3796 0 9770661 32772720 84955867 78237354 6636928 9142459 40367 78313 101403823 120230846 42927000 40300159 0 0 28220260 27951022 62799 155319 3029686 24276861 27375913 95486920 95782413 5916903 24448433 251750614 270721083 49054243 50425975 202696371 220295108 LENOIR-RHYNE UNIVERSITY PROVIDES EDUCATIONAL PROGRAMS AND CONFER UNDERGRADUATE DEGREES IN APPROXIMATELY 60 ACADEMIC PROGRAMS OF STUDY. THE UNIVERSITY OFFERS 57 DIFFERENT PROGRAMS OF STUDY FOR UNDERGRADUATES AND 24 DIFFERENT PROGRAMS FOR GRADUATE DEGREES. false false 60572082 39046824 60336647 PROVIDE EDUCATIONAL PROGRAMS & CONFER DEGREES FOR 57 UNDERGRADUATE & 24 GRADUATE ACADEMIC PROGRAMS OF STUDY. 7910791 0 12760512 PROVIDE STUDENT LIFE PROGRAMS TO RESIDENTIAL & COMMUTER STUDENTS AS PART OF THEIR ACADEMIC EXPERIENCES AT THE UNIVERSITY. 2352629 1253335 5140195 PROVIDE EDUCATIONAL PROGRAMS & CONFER MASTERS LEVEL GRADUATE DEGREES IN COUNSELING, ATHLETIC TRAINING, BUSINESS & OCCUPATIONAL THERAPY. 70835502 true true false false false false false false true true true true false false true true false true true false false false false true false false false false true true true false false false false false false false false false false true false false false true false false false false true 3356 0 true 1008 true true true false false false false false false false false false false false X 28 27 false true false false false true false true true false false true true true true true true true true false NC X JEREMY SHREVE 8283287100 PO BOX 7164 Hickory NC 286037164 X DR FREDERICK K WHITT PRESIDENT 40.0 0.0 X X 411137 0 62388 GARY C JOHNSON Provost 40.0 0.0 X 194673 0 31993 Catherine Niekro VP Institutional Advancement 40.0 0.0 X 173836 0 34926 Rachel Nichols VP Enrollment 40.0 0.0 X 146366 0 33196 Kimberly Pate VP Athletics 40.0 0.0 X 118228 0 31553 WESLEY N REID Asst Prof. & Program Director 40.0 0.0 X 114498 0 31363 MICHAEL R JACOBS Head Football Coach 40.0 0.0 X 118980 0 22538 David Jones Professor of Business 40.0 0.0 X 114157 0 22159 Jeremy Shreve VP Business & Finance 40.0 0.0 X 114109 0 18519 Brad Egan Associate Professor 40.0 0.0 X 107603 0 14430 Scott Weddington Dean Education & Humanities 40.0 0.0 X 111658 0 6671 Avery Staley Vice President of DEI 40.0 0.0 X 75223 0 3990 MADELEINE S DASSOW CHAIR 1.0 0.0 X X 0 0 0 BOYD C WILSON JR VICE CHAIR 1.0 0.0 X X 0 0 0 KATHERINE ESCH SECRETARY 1.0 0.0 X X 0 0 0 JERALD LEONHARDT TREASURER 1.0 0.0 X X 0 0 0 JANIE PARKS PEAK ASSISTANT SECRETARY 1.0 0.0 X X 0 0 0 EDWARD BEARD JR AT LARGE 1.0 0.0 X 0 0 0 REV DR MARK BERNTHAL TRUSTEE 1.0 0.0 X 0 0 0 PERRELL D BESS AT LARGE 1.0 0.0 X 0 0 0 STEVEN CARTER TRUSTEE 1.0 0.0 X 0 0 0 REV DR ERIC CHILDERS TRUSTEE 1.0 0.0 X 0 0 0 REV RACHEL L CONNELLY TRUSTEE 1.0 0.0 X 0 0 0 MARVIN S EDWARDS TRUSTEE 1.0 0.0 X 0 0 0 MARGARET JACKSON TRUSTEE 1.0 0.0 X 0 0 0 DEWYONE KING TRUSTEE 1.0 0.0 X 0 0 0 LESLIE LAMBERT TRUSTEE 1.0 0.0 X 0 0 0 HANSEL R MCCRORIE AT LARGE 1.0 0.0 X 0 0 0 JOSEPH P MCGUIRE TRUSTEE 1.0 0.0 X 0 0 0 KATHERINE MCKENZIE TRUSTEE 1.0 0.0 X 0 0 0 STEPHEN MISENHEIMER TRUSTEE 1.0 0.0 X 0 0 0 GEORGE A MORETZ AT LARGE 1.0 0.0 X 0 0 0 ISAIAH OGLESBY TRUSTEE 1.0 0.0 X 0 0 0 C CLIFF RITCHIE TRUSTEE 1.0 0.0 X 0 0 0 REV DR TIMOTHY M SMITH TRUSTEE 1.0 0.0 X 0 0 0 SYBIL B STEWART TRUSTEE 1.0 0.0 X 0 0 0 MICHAEL THOMAS TRUSTEE 1.0 0.0 X 0 0 0 REV CHRISTOPHER WEBB TRUSTEE 1.0 0.0 X 0 0 0 RHODES WOOLLY TRUSTEE 1.0 0.0 X 0 0 0 1800468 0 313726 18 false true false David E Looper Co PO Box 3224 HICKORY NC 28603 Construction Needs 14643207 Aramark Campus Services LR Box 7476 HICKORY NC 28603 Food Services 2597424 Aramark Facilities Services 1255 Crescent Green Drive Suite 21 CARY NC 27518 Maint & Housekeeping 1654245 Daktronics 201 Daktronic Drive BROOKINGS SD 57006 Electronic Equipment 1214698 Ellucian Co LP 4 COUNTRY VIEW ROAD MALVERN PA 19355 IT Consultants 1174034 37 14776541 17996179 1718161 32772720 TUITION AND FEES 611710 68495116 68495116 AUXILIARY SERVICES 611710 9194006 9194006 OTHER FEES/ADMISSIONS 611710 548232 548232 78237354 9070667 -39491 9110158 0 0 143085 64772 78313 0 78313 78313 20894353 20822561 71792 71792 35695 36097 0 0 0 0 0 0 0 0 0 0 120230846 78237354 -3796 9224568 0 40300159 40300159 0 0 1507536 837587 591105 78844 0 20507207 11393804 8040876 1072527 1063065 590639 416828 55598 3341469 1856520 1310190 174759 1531745 851038 600597 80110 5915924 3286887 2319634 309403 312675 173722 122600 16353 154084 85609 60416 8059 0 155319 155319 432487 432487 2324311 1299002 903031 122278 385666 214276 151220 20170 653603 363555 255826 34222 2417835 1343349 948033 126453 4336 2409 1700 227 25424 19797 3763 1864 1389316 771904 544751 72661 0 0 931496 517539 365240 48717 0 5148762 2860652 2018830 269280 892155 495681 349814 46660 UTILITIES 2609759 1472271 998900 138588 REPAIRS/SERVICE AGREEMENTS 2130402 1183651 835331 111420 BAD DEBTS 578326 321318 226762 30246 MEMBERSHIPS & DUES 289980 161113 113701 15166 779372 433020 305590 40762 95782413 70835502 21917225 3029686 4500 4500 9056429 13064863 2999464 11223299 907376 1575714 0 0 0 0 0 0 42092 36734 1107127 2875519 178888602 75103172 95622931 103785430 80366901 70278784 55902727 62653551 0 0 0 0 5741067 5222689 251750614 270721083 6538726 9266757 0 0 1059168 959234 22843194 21124085 278210 255874 0 0 12730519 11298389 0 0 5604426 7521636 49054243 50425975 X 58111522 68641319 144584849 151653789 202696371 220295108 251750614 270721083 X 24448433 -7703377 853681 X X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true X 138409957 2421688 1279436 2911561 2109278 475150 136615092 112044028 1623632 29959817 2706211 2002972 508337 138409957 111208887 2736504 3271871 2648833 2020558 503843 112044028 109575171 4577290 1815770 2474804 1803535 481005 111208887 102668101 4196465 7425481 2481700 1780473 452703 109575171 0.06280 0.67230 0.26490 false false 365095 2566129 2931224 144685925 58548106 86137819 15667756 11458619 4209137 15603697 5096447 10507250 103785430 PRIVATE EQUITY 24873531 F HEDGE FUNDS 15271352 F EQUITY FUNDS 9746515 F REAL ASSETS 6313993 F BOND FUNDS 4799341 F ANNUITY CONTRACTS 1648819 F 62653551 0 LINES OF CREDIT 7521636 7521636 X 72907606 -7703377 918453 -6784924 79692530 238157 40300159 40538316 120230846 55308869 64772 64772 55244097 238157 40300159 40538316 95782413 SCHEDULE D, PART IV, LINE 2B: LENOIR-RHYNE UNIVERSITY SERVES AS CUSTODIAN FOR FUNDS BELONGING TO VARIOUS STUDENT ORGANIZATIONS. GROUPS ARE ABLE TO ACCESS THE FUNDS ON REQUEST WITH APPROVAL OF ADVISOR. SCHEDULE D, PART V, LINE 4: PROVIDE SCHOLARSHIPS, PROFESSORSHIPS, AND PROGRAM SUPPORT AS DESIGNATED BY DONORS. SCHEDULE D, PART X, LINE 2: THE UNIVERSITY IS A TAX-EXEMPT ENTITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FASB ASC. THE UNIVERSITY FILES A FORM 990-T IN ACCORDANCE WITH APPLICABLE U.S. FEDERAL REGULATIONS. Schedule D, Part XI, Line 2D: Rental Expenses $ 64,772 Change in Value of Split-Interest Agreements -$ 612,799 Gain on Interest Rate Swap $ 1,466,480 Total $ 918,453 Schedule D, Part XI, Line 4B: Grants and Scholarships $37,485,213 Government Assistance $ 2,814,946 Total $40,300,159 Schedule D, Part XII, Line 2D: Rental Expenses $ 64,772 Schedule D, Part XII, Line 4B: Grants and Scholarships $37,485,213 Government Assistance $ 2,814,946 Total $40,300,159 true true false true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3: THE ORGANIZATION HAS NO ADVERTISING DIRECTLY TO STUDENTS. THE ORGANIZATION DISPLAYS THIS POLICY IN ITS CATALOGUE AND ON REGISTRATION MATERIALS. SCHEDULE E, PART I, LINE 6: LENOIR-RHYNE UNIVERSITY STUDENTS RECEIVE A VARIETY OF FEDERAL AND STATE GRANTS AND LOANS, INCLUDING BUT NOT LIMITED TO, DIRECT LOANS, PELL GRANTS, AND NORTH CAROLINA NEED-BASED SCHOLARSHIP PROGRAMS. X X X X X true Barkley PO Box 25277 Overland Park KS 66225 Donor Web Design false 64000 64000 Capital Development Services 915 W 4th Street Suite 100 WinstonSalem NC 27101 Campaign Counseling false 30000 30000 Acquia Inc 53 State Street Boston MA 021092820 Public Web Maintenance false 19721 19721 Active Internet Technologies 655 Winding Brook Drive Glastonbury CT 06033 Donor Web Maintenance false 18007 18007 Localist Corp 8484 Georgia Avenue Suite 675 Silver Spring MD 20910 University Calendar false 10940 10940 PhotoShelter Inc 111 Broadway 19th Floor New York NY 10006 Photo & Video Mgmt false 10499 10499 concept3D Inc 1800 Wazee Street Suite 300 Denver CO 80202 Interactive Campus Map false 2152 2152 155319 155319 true Scholarships & Fellowships to Undergrad Students 1461 35394062 Government Assist Disbursed to Students - COVID 19 2300 2814946 Scholarships & Fellowships to Graduate Students 218 2091151 SCHEDULE I, PART I, LINE 2: GRANTS ARE AWARDED TO STUDENTS BASED UPON THE CRITERIA ESTABLISHED WITH EACH GRANT. FINANCIAL AID PERSONNEL MONITOR EACH GRANT ALONG WITH THE TOTAL AID RECEIVED BY EACH STUDENT TO ENSURE THAT INDIVIDUALS AS WELL AS COLLECTIVE AWARDS ARE WITHIN THE GUIDELINES ESTABLISHED BY STATE AND FEDERAL GOVERNMENTAL AGENCIES. X X X false true false false false false false false false Rachel Nichols VP Enrollment 145814 0 0 0 552 0 9358 0 23838 0 179562 0 0 0 Catherine Niekro VP Institutional Advancement 173476 0 0 0 360 0 11088 0 23838 0 208762 0 0 0 GARY C JOHNSON Provost 193641 0 0 0 1032 0 12150 0 19843 0 226666 0 0 0 DR FREDERICK K WHITT PRESIDENT 358089 0 50000 0 3048 0 47400 0 14988 0 473525 0 0 0 PART I, LINE 4B: PART II COLUMN C INCLUDES $30,000 CONTRIBUTION TO 457(F) NONQUALIFIED PLAN FOR FREDERICK K. WHITT. A Lenoir-Rhyne University 560556753 NoneAvail 2014-10-01 13592000 Refund Previous Bond Issue false false false B North Carolina Capital Facilities Finance Agency 562592154 NoneAvail 2015-12-17 17000000 To Finance Buildings & Structures false false false A 0 0 13592000 0 0 0 183622 0 0 0 13408378 0 2014 true false true true B 0 0 17000000 0 0 1817191 198354 0 0 14974659 0 173000 2015 true false true true A false false false false 0 true false false false B false false false false 0 true false false false A true true true TRUIST 10. false false false 0 false false B true true true TRUIST 10. false false false 0 false false A true B true X 26 1569286 Fair Market Value X Food/Beverages 11 65644 Donor's Estimate X Golf Course Use 1 30000 Donor's Estimate X 2 Water Heaters f/Moretz FB Stadium 1 20635 Donor's Estimate X 5 Leather Chairs 1 10096 Donor's Estimate X 1 Grand Piano 1 9500 Donor's Estimate X Hotel Rooms 1 7500 Donor's Estimate X Use of Vehicle 1 3500 Donor's Estimate X Adv. Course Use 1 2000 Donor's Estimate false false false SCHEDULE M, PART I, COLUMN (B): THE NUMBER IN COLUMN B REFLECTS THE NUMBER OF CONTRIBUTORS. SCHEDULE M, PART I, LINE 33: MANAGEMENT RETAINS RECORDS OF EACH DONATION, INCLUDING THE DONOR NAME AND DESCRIPTION OF DONATION; HOWEVER, IT IS THE POLICY OF THE UNIVERSITY TO REFRAIN FROM RECORDING CONTRIBUTION REVENUE FOR MINIMAL DONATIONS. FORM 990, PART I, LINE 1: LENOIR-RHYNE UNIVERSITY PROVIDES PROGRAMS OF UNDERGRADUATE, GRADUATE AND CONTINUING STUDY COMMITTED TO THE LIBERAL ARTS AND SCIENCES. THE UNIVERSITY AWARDS BACHELORS AND MASTER DEGREES. FORM 990, PART VI, SECTION A, LINE 2: HICKORY IS A RELATIVELY SMALL TOWN, AND MANY MEMBERS ON THE BOARD (OR A FAMILY MEMBER) OPERATE A BUSINESS IN TOWN THAT OTHERS MAY PATRONIZE IN THE NORMAL COURSE OF BUSINESS. SPECIFICALLY, LENOIR-RHYNE UNIVERSITY HAS A BUSINESS RELATIONSHIP WITH CUSTOM DESIGN GROUP, THE COMPANY OF DEWYONE KING, TRUSTEE. FORM 990, PART VI, SECTION A, LINE 3: THE UNIVERSITY HAS FOUR SIGNIFICANT MANAGEMENT CONTRACTS WITH OUTSIDE SERVICE PROVIDERS. THESE INCLUDE MANAGEMENT (ARAMARK), DINING SERVICES (ARAMARK), BOOKSTORE OPERATIONS (FOLLETT HIGHER EDUCATION GROUP), AND IT OPERATIONS (ELLUCIAN CO., LP). IN ALL OF THESE INSTANCES THE UNIVERSITY HAS A DETAILED CONTRACT WITH THE VENDOR THAT CLEARLY DELINEATES THE AUTHORITY THESE ORGANIZATIONS AND THEIR EMPLOYEES HAVE TO PROVIDE MANAGEMENT AND OTHER SERVICES. FORM 990, PART VI, SECTION A, LINE 7A: THE MEMBERS OF THE BOARD OF TRUSTEES ARE ELECTED BY THE ORGANIZATION'S GOVERNING BODY WITH THE EXCEPTION OF THE BISHOP OF THE NC SYNOD. THE BISHOP OF THE NC SYNOD IS ELECTED BY THE DELEGATES TO THE SYNOD CONVENTION AND HE/SHE HOLDS AN EX-OFFICIO VOTING POSITION ON THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B: THE 990 IS REVIEWED BY THE BUSINESS OFFICE STAFF. THEN IT IS REVIEWED BY THE AUDIT COMMITTEE. THE 990 IS THEN PROVIDED DIGITALLY TO THE BOARD OF TRUSTEES FOR REVIEW PRIOR TO BEING FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C: THE CHAIR OF THE BOARD OF TRUSTEES AND THE PRESIDENT OF THE UNIVERSITY REQUEST THAT ALL TRUSTEES, OFFICERS, SENIOR MANAGERS AND DEPARTMENT MANAGERS REVIEW THE CONFLICT OF INTEREST POLICY AND COMPLETE THE DISCLOSURE FORM ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15: THE EXECUTIVE COMMITTEE OF THE BOARD CONDUCTS AN ANNUAL PERFORMANCE APPRAISAL OF THE PRESIDENT. THIS COMMITTEE THEN APPROVES CHANGES IN COMPENSATION AND/OR THE EMPLOYMENT CONTRACT OF THE PRESIDENT BASED ON A REVIEW OF HISTORICAL COMPENSATION DATA COMPILED REGARDING THE COMPENSATION OF THE PRESIDENTS OF SIMILAR ORGANIZATIONS IN NORTH CAROLINA AND THROUGHOUT THE UNITED STATES. FORM 990, PART VI, SECTION C, LINE 19: FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART VII, SECTION A, COLUMN F: THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN COLUMN F, PART VII AND IS NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. FORM 990, PART XI, LINE 9: GAIN ON INTEREST RATE SWAP 1,466,480 CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS (612,799) TOTAL TO FORM 990, PART XI, LINE 9 853,681 FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE'S PROCESS OF OVERSIGHT AND SELECTION HAS NOT CHANGED SINCE PRIOR YEAR. REESE HOLDINGS LLC PO BOX 7164 HICKORY NC 28603 560556753 Holding Co NC 0 0 L-R UNIV SCHEDULE R, PART I, IDENTIFICATION OF DISREGARDED ENTITIES: NAME: Reese Holdings, LLC PRIMARY ACTIVITY: HOLDING OF CONTRIBUTED REAL ESTATE DIRECT CONTROLLING ENTITY: Lenoir-Rhyne University