2023-05-12T07:47:46-05:00 2022-06-30 390859910 BAKER TILLY US LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2021-07-01 231352354 LEBANON VALLEY COLLEGE LEBA 7178676421 101 NORTH COLLEGE AVENUE ANNVILLE PA 17003 SHAWN P CURTIN VP FINANCE & ADMINISTRATION 7178676421 2023-05-09 1 SHAWN CURTIN 999009999 KERRI N BOGDA CPA P00760402 7177404863 2023-05-09 X 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z JAMES MACLAREN 101 NORTH COLLEGE AVENUE ANNVILLE PA 17003 198450820 0 X WWW.LVC.EDU X 1866 PA PROVIDES EDUCATIONAL SERVICES AT THE UNDERGRADUATE AND GRADUATE LEVEL. 36 30 1490 847 76952 0 16909172 16355945 91291592 100434434 5216364 4853421 200233 576398 113617361 122220198 49028114 53323742 0 0 33152413 33516287 0 0 1673263 21238856 24219096 103419383 111059125 10197978 11161073 239485447 236893761 53834652 51521655 185650795 185372106 X LEBANON VALLEY COLLEGE EDUCATES STUDENTS FOR LIFELONG SUCCESS THROUGH EXCEPTIONAL UNDERGRADUATE LIBERAL-ARTS PROGRAMS AND PROFESSIONAL GRADUATE PROGRAMS DELIVERED IN AN ENGAGING AND SUPPORTIVE ACADEMIC AND CO-CURRICULAR ENVIRONMENT. CONTINUED ON SCHEDULE O.WE EDUCATE OUR STUDENTS TO THINK CRITICALLY AND CREATIVELY, ANALYZE AND ADDRESS COMPLEX ISSUES, AND COMMUNICATE EFFECTIVELY. WE GUIDE THEM IN DEEPENING THEIR COMMITMENT TO INCLUSION, CIVIC ENGAGEMENT, AND GLOBAL CITIZENSHIP. 0 0 100655595 53323742 100640599 LEBANON VALLEY COLLEGE, FOUNDED IN 1866, OFFERS BACHELOR'S DEGREES IN MORE THAN 45 MAJORS; MASTER'S DEGREES IN ACCOUNTING (MBA 3+1), APPLIED KINESIOLOGY, ATHLETIC TRAINING, BUSINESS ADMINISTRATION, CLINICAL EXERCISE PHYSIOLOGY, CLINICAL MENTAL HEALTH COUNSELING, EDUCATION, INTELLIGENCE AND SECURITY STUDIES, MUSIC EDUCATION, SCHOOL COUNSELING, SCIENCE IN STEM EDUCATION, SPEECH-LANGUAGE PATHOLOGY, AND SPORT PERFORMANCE; A DOCTORAL DEGREE IN PHYSICAL THERAPY; ACT 48 CONTINUING EDUCATION FOR EDUCATOR CREDITS; AND CERTIFICATES IN COMPREHENSIVE CURRICULUM & ASSESSMENT FOR PREK-12, HEALTHCARE MANAGEMENT, INTEGRATIVE STEM EDUCATION, LEADERSHIP & ETHICS, MARKETING, MODERN BAND, ONLINE TEACHING & LEARNING, PROJECT MANAGEMENT, SOCIAL, EMOTIONAL, & BEHAVIORAL WELLNESS, SPORT ENHANCEMENT, SUPPLY CHAIN MANAGEMENT & LOGISTICS, AND TRAUMA-INFORMED COUNSELING.LOCATED EIGHT MILES FROM HERSHEY, PENNSYLVANIA, THIS COLLEGE OF 1,600 UNDERGRADUATE AND 400+ GRADUATE STUDENTS PRODUCES ALUMNI WHO ATTEND PRESTIGIOUS GRADUATE AND PROFESSIONAL SCHOOLS AND ARE EMPLOYED BY TOP COMPANIES AND SCHOOL DISTRICTS.THIRTY-TWO PERCENT OF OUR STUDENTS ARE FIRST GENERATION (40% OF FIRST-YEAR CLASS), 21% OF FALL 2022 FIRST-YEAR STUDENTS WERE PELL-ELIGIBLE, AND 100% OF THE FALL 2021 INCOMING CLASS RECEIVED GRANT OR SCHOLARSHIP AID FROM LVC. MORE THAN 35% OF OUR STUDENTS PARTICIPATE ON OUR 27 NCAA DIVISION III ATHLETIC TEAMS OR ESPORTS TEAMS, AND OUR STUDENTS VOLUNTEER MORE THAN 20,000 HOURS OF COMMUNITY SERVICE DURING THE ACADEMIC YEAR. 100655595 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 1 0 0 0 0 1 2788 0 1490 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 36 30 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 PA X GABRIEL PAZ 7178676421 101 NORTH COLLEGE AVENUE ANNVILLE PA 17003 X TRACEY A STOVER CHAIR 1.00 X X 0 0 0 RICHARD E HARPER VICE CHAIR 1.00 X X 0 0 0 KRISTEN R ANGSTADT VICE CHAIR 1.00 X X 0 0 0 JOSEPH F RILATT VICE CHAIR 1.00 X X 0 0 0 JAMES MACLAREN PRESIDENT 40.00 X X 354765 0 55265 ELIZABETH R UNGER ASSISTANT SECRETARY 1.00 X X 0 0 0 ALLEN M NEWSOME TRUSTEE 1.00 X 0 0 0 BRUNILDA MARTINEZ TRUSTEE 1.00 X 0 0 0 CARROLL SKIP MISSIMER TRUSTEE 1.00 X 0 0 0 CHESTER Q MOSTELLER TRUSTEE 1.00 X 0 0 0 EDWARD D BREEN TRUSTEE 1.00 X 0 0 0 ELYSE E ROGERS TRUSTEE 1.00 X 0 0 0 GEORGE J KING TRUSTEE 1.00 X 0 0 0 JAMES G GLASGOW TRUSTEE 1.00 X 0 0 0 JOAN SQUIRES TRUSTEE 1.00 X 0 0 0 KAREN A SCHMITT TRUSTEE 1.00 X 0 0 0 KATHERINE J BISHOP TRUSTEE 1.00 X 0 0 0 MARY JEAN BISHOP TRUSTEE 1.00 X 0 0 0 MELISSA POOLE TRUSTEE 1.00 X 0 0 0 ROBERT E HARBAUGH TRUSTEE 1.00 X 0 0 0 RYAN H TWEEDIE TRUSTEE 1.00 X 0 0 0 SUSAN M CORBETT TRUSTEE 1.00 X 0 0 0 SUSANNE HARLEY DOMBROWSKI TRUSTEE 1.00 X 0 0 0 TRUMAN T BROOKS III TRUSTEE 1.00 X 0 0 0 WENDIE DIMATTEO HOLSINGER TRUSTEE 1.00 X 0 0 0 ALLISON ABAYASEKARA TRUSTEE 1.00 X 0 0 0 ALEXANDER REBER TRUSTEE 1.00 X 0 0 0 JOHN SCHOL TRUSTEE 1.00 X 0 0 0 DAVID STEWART TRUSTEE 1.00 X 0 0 0 KARICK STOBER TRUSTEE 1.00 X 0 0 0 SETH MENDELSOHN TRUSTEE/ADJUNCT FACULTY 1.00 X 0 0 0 CHRISTOPHER DOLAN FACULTY TRUSTEE 1.00 X 74878 0 28851 CHRISTOPHER J HEFFNER FACULTY TRUSTEE 1.00 X 72237 0 23065 JOEL KLINE FACULTY TRUSTEE 1.00 X 80269 0 25888 GIGI MOSTAFA STUDENT TRUSTEE 1.00 X 575 0 0 SYDNEY LELIT STUDENT TRUSTEE 1.00 X 180 0 0 M LOUISE HESS TRUSTEE (UNTIL 05/22) 1.00 X 0 0 0 AJI M ABRAHAM TRUSTEE (UNTIL 05/22) 1.00 X 0 0 0 KENNETH YARNALL FACULTY TRUSTEE (UNTIL 05/22) 1.00 X 80891 0 30116 BRANDON N KEMMERY STUDENT TRUSTEE (UNTIL 05/22) 1.00 X 1691 0 0 MATTHEW WEAVER SECRETARY/VP ADVANCEMENT 40.00 X 182523 0 25717 SHAWN P CURTIN TREASURER/VP FINANCE 40.00 X 260450 0 43459 MONICA COWART PROVOST/VP ACAD AFFAIRS (UNTIL 6/22) 40.00 X 226487 0 37119 EDWIN WRIGHT VP OF ENROLLMENT MANAGEMENT 40.00 X 215603 0 35668 SUSAN TAMMARO ASSOCIATE PROVOST 40.00 X 179174 0 18687 DAVID SHAPIRO SR. DIRECTOR OF IT 40.00 X 162179 0 29352 STAN DACKO ASSO. PROFESSOR OF PHYSICAL THERAPY 40.00 X 145979 0 36043 MOLLY O'BRIEN-FOELSCH VP OF MARKETING AND COMMUNICATIONS 40.00 X 133175 0 11786 ROBERT MIKUS VP STUDENT AFFAIRS/DEAN OF STUDENTS 40.00 X 149236 0 19160 MICHAEL ZEIGLER DIRECTOR OF CLIENT SERVICES 40.00 X 162605 0 21986 LEWIS E THAYNE FORMER PRESIDENT (UNTIL 5/20) 0.00 X 183837 0 28583 2666734 0 470745 37 1 1 0 METZ CULINARY MANAGEMENT 2 WOODLAND DR DALLAS PA 18612 FOOD SERVICES 3954427 ARTHUR FUNK & SONS INC 1405 BIRCH RD LEBANON PA 17042 CONSTRUCTION SERVICES 1405412 PYRAMID CONSTRUCTION SERVICES LLC 840 N FRONT ST WORMLEYSBURG PA 17043 CONSTRUCTION SERVICES 932029 JAMES CRAFT & SON INC PO BOX 8 YORK HAVEN PA 17370 MAINTENANCE SERVICES 500730 NOELKER AND HULL ASSOCIATES INC 30 WEST KING STREET CHAMBERSBURG PA 17201 ARCHITECT SERVICES 492027 22 8119 91608 7035188 9221030 1963681 16355945 STUDENT TUITION AND FEES 611310 86311000 86311000 AUXILIARY ENTERPRISES 611310 14123434 14123434 100434434 1404522 13629 1390893 119627 64226 55401 55401 55401 79573682 76124783 3448899 3448899 3448899 37494 91608 41613 -4119 -4119 ATHLETIC CAMPS & TOURNAMENTS 713990 206165 206165 BARNES & NOBLE 900099 95451 95451 CONFERENCE SERVICES 721000 59449 59449 164051 3874 160177 525116 122220198 100640599 76952 5146702 76650 76650 53247092 53247092 2292690 1595027 482175 215488 23225392 19829516 2818310 577566 1685858 1394240 220205 71413 4527176 3705702 640262 181212 1785171 1464000 253182 67989 137862 99261 38463 138 114455 82408 31933 114 33000 33000 244991 176393 68352 246 5367141 3888101 1473640 5400 1192015 458926 721169 11920 2402938 1491583 572523 338832 69791 57228 9771 2792 1667186 1517139 135042 15005 782291 641478 109521 31292 889109 809089 72018 8002 6753949 6146093 547070 60786 807330 734670 65394 7266 REPAIRS & MAINTENANCE 1651158 1502554 133744 14860 BUILDING MAINTENANCE 818802 681618 79703 57481 LIBRARY MATERIALS 596677 596677 0 0 STUDENT CLUBS & ORGS. 223643 223643 0 0 466758 236507 224790 5461 111059125 100655595 8730267 1673263 4000 4000 23478650 23855968 8941210 12149903 10651705 7102066 22255 20386 1299558 1477799 222834331 121881001 99515183 100953330 74230177 72697388 15555413 11497259 1272892 958781 4514404 6176881 239485447 236893761 7424466 8575223 308200 68797 39824154 39859408 138975 38005 6138857 2980222 53834652 51521655 X 99473938 104514730 86176857 80857376 185650795 185372106 239485447 236893761 X 11161073 -16349824 4910062 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 33000 33000 0 PART II-B, LINE 1: THE COLLEGE PAID $33,000 TO LONG NYQUIST & ASSOCIATES TO ASSIST IN IDENTIFYING AND APPLYING FOR ELIGIBLE GRANTS. X X X 0 85736790 6373636 -10820737 1543292 1592240 78154157 67825446 1339012 19707854 1525498 1610024 85736790 68779262 2509653 -327949 1502891 1632629 67825446 67380556 2472246 1956992 1441297 1589235 68779262 64503909 1037067 4661315 1306386 1515349 67380556 0.22000 0.64000 0.14000 0 0 2474725 2474725 172308127 88496888 83811239 23722400 20052826 3669574 24329079 13331287 10997792 100953330 LIABILITY ON ANNUITY CONTRACTS 568341 STUDENT CREDIT BALANCES AND DEPOSITS 1029912 ADVANCES FROM FEDERAL GOVERNMENT FOR STUDENT LOANS 1381969 2980222 X 56589256 -16349824 -49386957 -65736781 122326037 -105839 -105839 122220198 56867945 -4815948 -4815948 61683893 49375232 49375232 111059125 PART III, LINE 4: THE COLLEGE'S COLLECTION CONSISTS OF ARTWORK, RARE BOOKS, AND OTHER OBJECTS. THE COLLECTION IS HELD FOR EDUCATION, RESEARCH, AND PUBLIC EXHIBITION AND IS PROTECTED, KEPT UNENCUMBERED, CARED FOR, AND PRESERVED. PART V, LINE 4: TO SUPPORT EDUCATIONAL PROGRAMS IN ACCORDANCE WITH THE DONOR DESIGNATIONS. PART X, LINE 2: THE COLLEGE FOLLOWS THE FASB GUIDANCE THAT REQUIRES A TAX POSITION TO BE RECOGNIZED BASED ON A MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION THRESHOLD. THE COLLEGE DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE POLICY -11,725. INVESTMENT EXPENSES NETTED AGAINST REVENUE ON FINANCIALS -244,991. STUDENT EDUCATIONAL GRANTS NETTED AGAINST REVENUE ON FINANCIALS -49,130,241. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -64,226. FUNDRAISING EXPENSES -41,613. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 64,226. FUNDRAISING EXPENSES 41,613. CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENT -4,921,787. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT EXPENSES NETTED AGAINST REVENUE ON FINANCIALS 244,991. STUDENT EDUCATIONAL GRANTS NETTED AGAINST REVENUE ON FINANCIALS 49,130,241. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE POLICY IS INCLUDED ON THE COLLEGE'S CATALOG, WEBSITE, PUBLICATIONS, ETC. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES VARIOUS FEDERAL GRANTS DIRECTLY FROM THE U.S. DEPARTMENT OF EDUCATION. THESE GRANTS INCLUDE SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS, COLLEGE WORK-STUDY FUNDING, AND PELL GRANTS. THE COLLEGE ALSO RECEIVES GRANTS FROM THE COMMONWEALTH OF PENNSYLVANIA. FOR FISCAL YEAR 2022, THE COLLEGE ALSO RECEIVED HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF) AND CORONAVIRUS RESPONSE AND RELIEF SUPPLEMENTAL APPROPRIATIONS ACT (CRRSA) MONEY THROUGH THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY (CARES) ACT. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 261042 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICE EXPENSES STUDY ABROAD PROGRAM 964 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICE EXPENSES STUDY ABROAD PROGRAM 276569 0 0 0 0 0 0 538575 0 538575 1 0 0 0 1 0 PART III ACCOUNTING METHOD: SCHEDULE F, PART IV, LINE 5: THE COLLEGE'S INVESTMENTS DID NOT MEET THE FILING THRESHOLD FOR COMPLETING FORM 8865 DURING TAX YEAR 2021. LVEP GOLF TOURNAMENT 72692 60125 12567 4350 9200 2864 270 LVC GOLF CLASSIC 20250 13994 6256 484 3948 1825 2 36160 17489 18671 515 5858 7846 4453 129102 91608 37494 515 10692 20994 9142 270 41613 -4119 1 ANNVILLE TOWNSHIP 36 NORTH LANCASTER STREET ANNVILLE PA 17003 236003026 N/A 50000 0 N/A N/A UNRESTRICTED CONTRIBUTION TO SUPPORT THE TOWNSHIP ANNVILLE-CLEONA SCHOOL DISTRICT 520 SOUTH WHITE OAK STREET ANNVILLE PA 17003 231602952 N/A 23000 0 N/A N/A UNRESTRICTED CONTRIBUTION TO SUPPORT THE SCHOOL DISTRICT 2 0 LVC GRANTS & SCHOLARSHIPS 1607 48910918 0 N/A N/A PELL GRANTS 380 1804284 0 N/A N/A HEERF CARES STUDENT AID 1166 1891422 0 N/A N/A STUDENT AWARDS 136 370614 0 N/A N/A SEOG GRANTS 66 219323 0 N/A N/A TEACH GRANTS 7 24518 0 N/A N/A FACULTY ACADEMIC GRANTS 29 26013 0 N/A N/A PART I, LINE 2: ALL STUDENTS APPLYING FOR FEDERAL FUNDS ARE REQUIRED TO SUBMIT THE FREE APPLICATION FOR FEDERAL STUDENT AID ("FAFSA"). THE FINANCIAL AID OFFICE REVIEWS THE RESULTS OF THE FAFSA, WHICH DICTATES WHAT AND HOW MUCH FEDERAL FUNDING THE INDIVIDUAL STUDENT IS ELIGIBLE FOR. IF THE STUDENT IS DETERMINED TO BE IN COMPLIANCE WITH ALL FEDERAL REGULATIONS, AS DETERMINED BY THE DEPT. OF ED., THE FINANCIAL AID OFFICE AWARDS THE STUDENT THE APPROPRIATE FUNDING. STUDENT FILES REGARDING ELIGIBILITY ARE MAINTAINED BY THE FINANCIAL AID OFFICE. X 1 1 X X X 1 0 0 0 0 0 0 0 0 JAMES MACLAREN PRESIDENT 333665 0 12700 0 8400 0 30600 0 24665 0 410030 0 0 0 SHAWN P CURTIN TREASURER/VP FINANCE 225960 0 34490 0 0 0 21285 0 22174 0 303909 0 0 0 MONICA COWART PROVOST/VP ACAD AFFAIRS (UNTIL 6/22) 217387 0 9100 0 0 0 20097 0 17022 0 263606 0 0 0 EDWIN WRIGHT VP OF ENROLLMENT MANAGEMENT 196863 0 18500 0 240 0 18270 0 17398 0 251271 0 0 0 LEWIS E THAYNE FORMER PRESIDENT (UNTIL 5/20) 0 0 0 0 183837 0 16650 0 11933 0 212420 0 0 0 MATTHEW WEAVER SECRETARY/VP ADVANCEMENT 174773 0 7750 0 0 0 15986 0 9731 0 208240 0 0 0 SUSAN TAMMARO ASSOCIATE PROVOST 136243 0 6550 0 36381 0 12332 0 6355 0 197861 0 0 0 DAVID SHAPIRO SR. DIRECTOR OF IT 128393 0 16413 0 17373 0 12102 0 17250 0 191531 0 0 0 MICHAEL ZEIGLER DIRECTOR OF CLIENT SERVICES 92433 0 5752 0 64420 0 8684 0 13302 0 184591 0 0 0 STAN DACKO ASSO. PROFESSOR OF PHYSICAL THERAPY 132311 0 6732 0 6936 0 12822 0 23221 0 182022 0 0 0 ROBERT MIKUS VP STUDENT AFFAIRS/DEAN OF STUDENTS 112531 0 6705 0 30000 0 10379 0 8781 0 168396 0 0 0 PART I, LINE 1A FROM THE EMPLOYMENT AGREEMENT BETWEEN LEBANON VALLEY COLLEGE AND THE PRESIDENT - "THE COLLEGE SHALL PAY OR REIMBURSE THE EXECUTIVE FOR ALL REASONABLE BUSINESS EXPENSES INCURRED BY THE EXECUTIVE (AND HIS SPOUSE WHERE THERE IS A LEGITIMATE BUSINESS REASON FOR HIS SPOUSE TO ACCOMPANY HIM) IN CONNECTION WITH THE PERFORMANCE OF HIS DUTIES AND OBLIGATIONS UNDER THIS AGREEMENT. SUCH PAYMENTS SHALL INCLUDE REASONABLE REIMBURSEMENTS FOR TICKETS, SUBSCRIPTIONS, ETC. FOR THE EXECUTIVE AND HIS SPOUSE TO WORK-RELATED FUND RAISING EVENTS IN THE COMMUNITY. THESE EXPENDITURES SHALL BE SUBJECT TO THE REVIEW AND APPROVAL OF THE CHAIR OF THE BOARD." THERE WERE NO SUCH BUSINESS EXPENSE REIMBURSEMENTS OR EXPENDITURES DURING THE YEAR. IN ADDITION, THE PRESIDENT LIVES IN A COLLEGE OWNED HOUSE, WHICH IS ON CAMPUS. THE HOUSING IS NOT CONSIDERED A TAXABLE BENEFIT TO THE PRESIDENT. PART I, LINE 4A FOLLOWING INDIVIDUALS RECEIVED SEVERANCE PAYMENTS DURING THE CALENDAR YEAR 2021: - FORMER PRESIDENT, LEWIS E. THAYNE - DIRECTOR OF CLIENT SERVICES, MICHAEL ZEIGLER (HIGHEST COMPENSATED EMPLOYEE) A ANNVILLE TOWNSHIP AUTHORITY 236003026 2019-12-13 40935000 REFINANCE PRIOR BONDS 0 0 0 B ANNVILLE TOWNSHIP AUTHORITY 236003026 2021-12-01 16500000 CONSTRUCTION OF NURSING BUILDING 0 0 0 A 1908409 40935000 212181 40722819 2019 1 0 1 1 B 16500000 149768 3298895 13051337 2023 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 1 FULTON BANK 12.500000000000 0 0 0 0 1 B 0 1 0 0 0 1 FIRST NATIONAL BANK 5.500000000000 0 0 0 0 1 A 1 B 1 95275 STUDENT-AID SCHOLARSHIP X 16 1932429 MEAN SHARE PRICE X INSTRUMENTS 2 18450 COST X BOOKS & MUSIC 4 12552 COST X COLLEGE ADVERTISEMENT 1 250 COST 0 1 0 PART I, COLUMN (B): THE NUMBER IN PART I, COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 3 THE COLLEGE OUTSOURCED ITS FOOD SERVICE TO METZ. THE COLLEGE ALSO OUTSOURCED ITS BOOKSTORE OPERATIONS TO BARNES AND NOBLE. FORM 990, PART VI, SECTION B, LINE 11B AFTER COMPLETION AND REVIEW BY MANAGEMENT, THE AUDIT COMMITTEE OF THE BOARD REVIEWED THE COMPLETE 990 IN DETAIL DURING THE MARCH AUDIT COMMITTEE MEETING. A FULL COPY OF THE 990 WAS POSTED ON THE COLLEGE'S PORTAL FOR THE FULL BOARD'S REVIEW PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED ANNUALLY. IN THE CASE OF THE BOARD AND SENIOR STAFF, INCLUDING THE PRESIDENT, THE GOVERNANCE COMMITTEE DEVELOPED A FORM WHICH IS SCHEDULED TO BE COMPLETED ANNUALLY. LANGUAGE ON THE FORMS WAS MODIFIED IN 2010 TO BETTER REFLECT IRS FORM 990 DEFINITIONS / REQUIREMENTS. COMPLETED TRUSTEE FORMS ARE REVIEWED BY THE EXECUTIVE ASSISTANT TO THE PRESIDENT AND MEMBERS OF THE GOVERNANCE COMMITTEE. MEMBERS OF THE GOVERNANCE COMMITTEE NOTE ANY RESPONSES THAT REQUIRE ATTENTION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE PRESIDENT AND VICE PRESIDENTS IS REVIEWED ANNUALLY BY THE COMPENSATION SUBCOMMITTEE OF THE BOARD TO ENSURE THAT COMPENSATION DOES NOT EXCEED FAIR MARKET VALUE. EXTERNAL BENCHMARK DATA FROM CUPA-HR IS SHARED AS A PART OF THIS REVIEW. THE COMPENSATION SUBCOMMITTEE MAKES THE DETERMINATION AND THE PROCESS IS NOTED IN MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE AT 101 NORTH COLLEGE AVENUE UPON REQUEST. FORM 990, PART VI, LINE 1: THE EXECUTIVE COMMITTEE IS COMPRISED OF OFFICERS OF THE BOARD, CHAIRS OF STANDING COMMITTEES, AND UP TO FOUR ADDITIONAL TRUSTEES AS APPOINTED BY THE CHAIR OF THE BOARD. ALL MEMBERS OF THE EXECUTIVE COMMITTEE MUST BE VOTING MEMBERS OF THE BOARD OF TRUSTEES. THE BYLAWS OF THE BOARD OF TRUSTEES STIPULATE THAT THE EXECUTIVE COMMITTEE HAS, AND MAY EXERCISE ALL POWERS OF THE BOARD OF TRUSTEES IN THE TRANSACTION OF THE BUSINESS OF THE COLLEGE BETWEEN MEETINGS OF THE BOARD. UNLESS SPECIFICALLY EMPOWERED BY THE BOARD, THE EXECUTIVE COMMITTEE MAY NOT TAKE ANY ACTION INCONSISTENT WITH A PRIOR ACT OF THE BOARD OF TRUSTEES, AWARD DEGREES, ALTER BYLAWS, LOCATE PERMANENT BUILDINGS IN TAX-EXEMPT PROPERTY HELD FOR COLLEGE PURPOSES, PURCHASE OR SELL, MORTGAGE OR LEASE OR OTHERWISE ACQUIRE OR DISPOSE OF REAL PROPERTY, REMOVE OR APPOINT THE PRESIDENT OF THE COLLEGE, ADOPT THE ANNUAL BUDGET, ELECT TRUSTEES OR BOARD OFFICERS, OR TAKE ANY OTHER ACTION THAT HAS BEEN RESERVED BY OR FOR THE BOARD. FORM 990, PART VII, SECTION A: THE FOLLOWING TRUSTEES ARE ALSO ON THE FACULTY OF LEBANON VALLEY COLLEGE WORKING EITHER FULLTIME, AS PART-TIME ADJUNCT PROFESSOR., OR STUDENT EMPLOYEES WORKING DURING THE ACADEMIC YEAR. COMPENSATION REPORTED ON PART VII RELATES TO THEIR EMPLOYMENT POSITIONS: - SETH MENDELSOHN - CHRISTOPHER DOLAN - KENNETH YARNALL (TERM ENDED 5/22) - CHRISTOPHER J. HEFFNER - GIGI MOSTAFA - BRANDON N. KEMMERY (TERM ENDED 5/22) FORM 990, PART XI, LINE 9: CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE POLICY -11,725. CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENT 4,921,787. FORM 990, PART VI, LINE 14: SEPARATE RETENTION POLICIES ARE MAINTAINED AT THE DEPARTMENT/DIVISIONAL LEVELS. IT IS THE COLLEGE'S GOAL TO CONSOLIDATE THESE POLICIES AND DEVELOP AN INSTITUTIONAL WIDE RETENTION POLICY. VALE LLC 101 NORTH COLLEGE AVENUE ANNVILLE PA 170030501 463835416 MUSIC PRODUCTION PA 0 667 LEBANON VALLEY COLLEGE LEBANON VALLEY COLLEGE PHYSICAL THERAPY & SPORTS REHAB CLINIC 101 NORTH COLLEGE AVENUE ANNVILLE PA 170030501 464917810 PHYSICAL THERAPY AND SPORTS REHABILIATION PA 0 6450 LEBANON VALLEY COLLEGE