2023-12-14T17:03:02-05:00 2023-07-31 611129886 KELLEY GALLOWAY SMITH GOOLSBY PSC 1200 CORPORATE COURT PO BOX 990 ASHLAND KY 411050990 990 2022-08-01 610492351 ALICE LLOYD COLLEGE ALIC 6063682101 100 PURPOSE ROAD PIPPA PASSES KY 41844 JESSIE WILKS V.P. BUSINESS AFFAIR 6063686031 2023-11-27 true JESSIE WILKS XXX-XX-XXXX false LORI F DEARFIELD CPA P00846508 6063291811 2023-11-29 2022 2023-04-26 12:10:37Z JESSIE WILKS 39627084 false X WWW.ALC.EDU X 1922 KY THE MISSION OF ALICE LLOYD COLLEGE IS TO PROVIDE MOUNTAIN STUDENTS A QUALITY CHARACTER-BASED EDUCATION, REGARDLESS OF THEIR FINANCIAL ABILITY, AND TO PREPARE THEM FOR LEADERSHIP AND SERVICE IN THE APPALACHIAN REGION. NO STUDENT HAS EVER BEEN TURNED AWAY BECAUSE OF AN INABILITY TO PAY. 24 24 271 212 0 16579327 15932153 11556548 10911614 2720864 2269267 -206802 -449089 30649937 28663945 3278744 2776587 0 7589651 7737998 0 1668089 8966361 10424932 19834756 20939517 10815181 7724428 136427755 148432903 4294979 4647574 132132776 143785329 X THE MISSION OF ALICE LLOYD COLLEGE IS TO PROVIDE MOUNTAIN STUDENTS A QUALITY CHARACTER-BASED EDUCATION, REGARDLESS OF THEIR FINANCIAL ABILITY, AND TO PREPARE THEM FOR LEADERSHIP AND SERVICE IN THE APPALACHIAN REGION. NO STUDENT HAS EVER BEEN TURNED AWAY BECAUSE OF AN INABILITY TO PAY. false false 3252705 519724 INSTRUCTION ALICE LLOYD COLLEGE (ALC) HAD AN ENROLLMENT OF 561 STUDENTS FOR THE FALL 2023 SEMESTER, 561 FULL-TIME AND 37 PART-TIME. FULL-TIME STUDENTS FROM OUR 108-COUNTY SERVICE AREA (INCLUDES PARTS OF KY, OH, TN, VA, AND WV) ARE GUARANTEED ABSOLUTELY NO OUT OF POCKET COSTS FOR TUITION. ALC IS ONE OF ONLY TEN WORK COLLEGES IN THE NATION THAT REQUIRES ALL FULL-TIME STUDENTS TO WORK AS A CONDITION FOR ENROLLMENT. EACH YEAR, THE COLLEGE SUPPORTS MANY ALUMNI AT GRADUATE AND PROFESSIONAL SCHOOLS THROUGH ITS CANEY SCHOLARS PROGRAM. THIS YEAR, FIFTY-SIX CANEY SCHOLARS ARE PURSUING DEGREES FOR THE 2023-2024 ACADEMIC YEAR (FORTY-ONE RETURNING SCHOLARS AND FIFTEEN NEW SCHOLARS). THE TOP AREAS OF STUDY FOR OUR SCHOLARS ARE: FOURTEEN PHARMACY, EIGHT MEDICAL, SIX PHYSICAL THERAPY, THREE LAW, OCCUPATIONAL THERAPY, OPTOMETRY AND PHYSISCIAN ASSISTANTS, TWO BIOMEDICAL SCIENCES, DENTISTRY, AND ENGLISH, AND ONE ENGINEERING. OVER THE COURSE OF THE YEAR, EIGHTEEN CANEY SCHOLARS WILL BE RESIDING AT THE CANEY COTTAGE IN LEXINGTON, KENTUCKY. THIRTEEN SCHOLARS COMPLETED THEIR PROGRAMS OF STUDY DURING THE 2022-2023 ACADEMIC YEAR. ALC PROVIDED 2,776,587 IN INSTITUTIONAL LEADERSHIP GRANTS AND 716,250 IN INSTITUTIONAL STUDENT WORK GRANTS FOR THE 2022-2023 FISCAL YEAR. THE PROGRAM SERVICE ACCOMPLISHMENTS INCLUDED GRADUATING 92 STUDENTS IN MAY 2023. THIRTY-EIGHT PERCENT OF ALC'S CLASS OF 2023 GRADUATED WITH NO STUDENT LOAN DEBT. THE AVERAGE LOAN DEBT FOR THE REMAINING ALC CLASS OF 2023 WAS 11,370 COMPARED TO A NATIONAL AVERAGE OF 28,950. APPROXIMATELY 80 PERCENT OF ALC GRADUATES SERVE THE APPALACHIAN AREA BASED UPON RESEARCH CONDUCTED BY THE OFFICE OF ALUMNI RELATIONS. 2843737 215891 AUXILIARY AUXILIARY COLLEGE HOUSING AND MEAL PLAN, ALONG WITH THE CAMPUS BOOKSTORE, CONCESSIONS, AND CAF, ARE PRIMARILY PART OF THE AUXILIARY SERVICES. THE CAMPUS HAS THE CAPACITY TO HOUSE NEARLY 625 STUDENTS WITH 473 STUDENTS LIVING IN THE DORMS FOR FALL 2023 COMPARED TO 484 STUDENTS LIVING IN THE DORMS FOR FALL 2022. THE COLLEGE TERMINATED ITS CONTRACT WITH AN ONLINE BOOK RETAILER AND PROVIDER IN THE SPRING OF 2023 TO MAKE THE MOVE TOWARDS OPEN EDUCATIONAL RESOURCES (A MORE VIABLE OPTION FOR OUR STUDENTS TO KEEP COSTS AS LOW AS POSSIBLE). OPEN EDUCATIONAL RESOURCES (OER) ARE FREE AND ACCESSIBLE TEACHING, LEARNING, AND RESEARCH RESOURCES THAT ARE FOUND IN THE PUBLIC DOMAIN OR HAVE BEEN RELEASED UNDER AN INTELLECTUAL PROPERTY LICENSE THAT PERMITS THEIR USE AND RE-PURPOSING BY OTHERS. THE COLLEGE HAS ALSO INVESTED 100,000 OF ITS OWN FUNDS, PROVIDED BY THE BOARD OF DIRECTORS IN THE FALL 2023 BOARD MEETING, TO PURCHASE ANY TEXTBOOKS FOR ANY COURSES OFFERED BY THE COLLEGE THAT CANNOT BE FOUND THROUGH THE OER DOMAIN FOR OUR STUDENTS. THE JUNE BUCHANAN SCHOOL (JBS) HAD AN ENROLLMENT OF 122 STUDENTS FOR FALL 2023 WITH 26 STUDENTS ENROLLED IN ALC COURSES FOR THE FALL SEMESTER. THE CANEY HONORS ACHIEVEMENT PROGRAM (CHAP) ENABLES JBS STUDENTS TO CHALLENGE THEMSELVES FURTHER IN THEIR STUDIES AND RECEIVE COLLEGE CREDITS WHILE IN HIGH SCHOOL. 2392034 304757 STUDENT SERVICES STUDENT SERVICES PROGRAMS INCLUDE LEADERSHIP, EDUCATION, ATHLETICS, INTRAMURALS, COUNSELING, CAREER PLACEMENT, STUDENT ACTIVITIES BOARD (WHICH PLANS A STUDENT ACTIVITIES CALENDAR EACH SEMESTER), DINING FACILITIES, DORMITORY FACILITIES, BRIDGE PROGRAM (WHICH HELPS STUDENTS MAKE THE TRANSITION FROM HIGH SCHOOL TO COLLEGE), CONVOCATION SERIES, POLICE DEPARTMENT, AND SUMMER AND FALL ORIENTATIONS. CONSTRUCTION PROJECTS/CAMPUS IMPROVEMENTS ALICE LLOYD COLLEGE HAS COMPLETED CONSTRUCTION OF TWO NEW WOMEN'S RESIDENCE HALLS WITH THE FIRST, HERMANN HALL, COMPLETED AND OCCUPIED IN AUGUST 2021. HERMANN HALL HAS THE CAPACITY TO HOUSE 150 WOMEN AND CURRENTLY HOUSES 139 WOMEN DURING THE FALL 2023 SEMESTER. THE SECOND DORM, HOLMES HALL, WAS COMPLETED AND TOOK OCCUPANCY IN AUGUST 2023. HOLMES HALL HAS THE CAPACITY TO HOUSE 150 WOMEN AND CURRENTLY HOUSES 97 WOMEN DURING THE FALL 2023 SEMESTER. TOTAL OCCUPANCY IS ANTICIPATED TO BE 300 STUDENTS WITH ONLY TWO STUDENTS IN A ROOM. ALICE LLOYD COLLEGE HAS CONSTRUCTED THESE TWO NEW RESIDENCE HALLS WITHOUT INCURRING ANY DEBT. THE COLLEGE HAS BEGAN THE PROCESS OF REMODELING OUR THREE BOYS DORMITORIES (HOWARD MEMORIAL HALL, BERGER-AUEN HALL, AND CARRICK HALL). THE REMODEL FOR THE DORMS IS ESTIMATED AT 4.7 MILLION. THIS WILL BE AN ON-GOING PROCESS, WITH A GOAL TO BE COMPLETED WITH ALL REMODEL PHASES BY 2025. THE COLLEGE IS IN THE FINAL STAGES OF ADDING A CHAPEL BELL TOWER THAT WILL BE CENTRALLY LOCATED ON CAMPUS FOR ALL FACULTY, STAFF, AND STUDENTS. THE CHAPEL BELL TOWER IS AN EXCELLENT AND AESTHETICALLY PLEASING ADDITION TO THE COLLEGE CAMPUS. THE STRUCTURE IS APPROXIMATELY 400 SQUARE FEET WITH MULTIPLE LEVELS CONSTRUCTED ON DRILLED PIER CONCRETE FOUNDATIONS WITH GRADE BEAMS, STEM WALLS, SLAB-ON-GRADE WITH COLD FORMED AND STRUCTURAL STEEL FRAMING. THE PROJECT HAD A TOTAL COST OF 1.3 MILLION THAT WAS FULLY FUNDED BY FUNDRAISING EFFORTS OF THE PRESIDENT AND DEVELOPMENT OFFICE THROUGH GENEROUS DONORS AND ALUMNI. THE CATASTROPHIC FLOOD THAT WRECKED PARTS OF EASTERN KENTUCKY IN 2022 LEFT A LASTING IMPACT ON OUR COLLEGE CAMPUS. FOLLOWING THE FLOODING, THE COLLEGE, THROUGH A GENEROUS DONATION FROM AN OUTSIDE SOURCE, WAS ABLE TO BEGIN CONSTRUCTION ON A HALF MILE LONG RETAINING WALL ON BOTH SIDES OF CANEY CREEK THAT RUNS THROUGHOUT THE ENTIRE CAMPUS. THE PROJECT IS NEARING COMPLETION, WHICH SAW REPLACEMENTS AND IMPROVEMENTS TO ALL OF THE BRIDGES THROUGHOUT CAMPUS THAT WERE ALSO DAMAGED IN THE FLOODING. THE PROJECT IS ESTIMATED TO COST 7 MILLION AFTER CONSTRUCTION IS COMPLETED, ENTAILING SAFETY FENCING ALONG THE WALL, LANDSCAPING ALONG THE WALL, AND ASPHALT THROUGHOUT CAMPUS TO REPAIR THE PURPOSE ROAD. COMMUNITY SERVICE PROJECTS ALICE LLOYD COLLEGE CAMPUS MINISTRY, ACADEMIC FRATERNITY PHI BETA LAMDA (PBL), ATHLETICS, AND STUDENT SERVICES WERE ABLE TO PROVIDE FOR COMMUNITY NEEDS. PBL WAS ABLE TO INCREASE THE NUMBER OF SACK PACKS DELIVERED WEEKLY TO LOCAL NEEDY ELEMENTARY STUDENTS FROM THIRTY TO SIXTY. PBL ALSO PICKED UP A SECOND SCHOOL TO PREPARE BAGS FOR. THERE WERE A TOTAL OF TWENTY-TWO MEMBERS WHO PARTICIPATED THROUGHOUT THE YEAR. PBL MEMBERS ALSO SPONSORED AN ONLINE BOOK DRIVE FOR THE HINDMAN PRE-SCHOOL AND RECEIVED OVER SIXTY BOOKS WHICH WERE DELIVERED TO THE SCHOOL IN SEPTEMBER 2023 BEFORE CLASSES BEGAN. PBL ALSO HOSTED A SUCCESSFUL BREAST CANCER AWARENESS CAMPAIGN AND A MARCH OF DIMES CONVOCATION, WITH EACH EVENT RAISING FUNDS TO BE ALLOCATED TOWARDS THE COLLECTIVES. ADDITIONALLY, THE COLLEGE COMMUNITY PARTICIPATED IN BLOOD DRIVES AND ANIMAL SHELTER CLEANUP PROJECTS. CAMPUS MINISTRY ENTAILS UPHOLDING THE COLLEGE'S PHILOSOPHY THAT IS BASED ON CHRISTIAN FAITH AND PROMOTES CHRISTIAN PRINCIPLES AND VALUES. THE COLLEGES CAMPUS MINISTRY HAS AN ACTIVE STUDENT MINISTRY, WHICH IS OPEN TO ALL DENOMINATIONS. CAMPUS MINISTRIES VISITS LOCAL NURSING HOMES PERIODICALLY. STUDENTS PLAY BINGO, BIBLE TRIVIA GAMES, AND SINGS SONGS WITH RESIDENTS. THEY ALSO HAND OUT CROSSWORD PUZZLES, WORD SEARCHES, AND MAGAZINES. CAMPUS MINISTRIES ALSO SERVES AS A DROP OFF LOCATION FOR OPERATION CHRISTMAS CHILD. THROUGHOUT THE YEAR, CAMPUS MINISTRIES COLLECTED OVER ONE-THOUSAND SHOEBOXES THAT WERE SENT TO CHILDREN AROUND THE WORLD. STUDENTS IN THE WORK-STUDY PROGRAM COMPLETED 37,809 WORK HOURS IN AREAS DESIGNATED AS COMMUNITY SERVICE POSITIONS. 32,695 HOURS WERE DESIGNATED WORK COLLEGE WORK-STUDY AND FEDERAL WORK-STUDY, WHILE 5,114 HOURS WERE PAID WITH INSTITUTIONAL DOLLARS. COMMUNITY SERVICE JOBS INCLUDE THE JUNE BUCHANAN SCHOOL, THE CHILD DEVELOPMENT CENTER, THE LIBRARY, THE CRAFT SHOP AND CHRISTMAS PRETTIES PROGRAM, MARKETING, BOTH THE HUNGER DIN AND MISS IRMA'S CAF, AS WELL AS THE POLICE DEPARTMENT. WE ARE ALSO REQUIRED TO EMPLOY STUDENTS AS READING AND MATH TUTORS AND THOSE STUDENTS COMPLETED 1,026 HOURS WITHIN THOSE AREAS. 7751898 3141275 ACADEMIC EXPENSES 3,754,241. INCLUDING GRANTS OF 80,015. REVENUE 0. JUNE BUCHANAN EXPENSES 1,095,443. INCLUDING GRANTS OF 45,612. REVENUE 0. STUDENT AID EXPENSES 2,776,587, INCLUDING GRANTS OF 2,776,587. REVENUE 0. 7751898 3141275 16240374 true true false true false false false false false true true true false false true false true false true false false false false false false false false false true true false false false false false true true false true false false false false false false false false true 888 0 true 271 true false false false false false false false false false false false false false false X 24 24 true false false false false false false true true false false false true true true false true true true false KY X JESSIE WILKS ALICE LLOYD COLLEGE 6063686031 100 PURPOSE ROAD PIPPA PASSES KY 41844 JOE STEPP CHANCELLOR 70.00 X 184113 0 43273 JESSIE WILKS V.P. BUSINES 50.00 X 89668 0 32980 DWIGHT J BAUM MEMBER X 0 0 0 ROBERT M DUNCAN CHAIRMAN X X 0 0 0 DR JERRY DAVIS MEMBER X 0 0 0 JERRY L EDWARDS MEMBER X 0 0 0 JULIE DAVIS HOPKINS MEMBER X 0 0 0 GEORGE NICHOLS III MEMBER X 0 0 0 ROBERT M DUNCAN JR MEMBER X 0 0 0 WILLIAM J REIK JR MEMBER X 0 0 0 KIMBERLY JONES MEMBER X 0 0 0 HILDA G LEGG-POTTER VICE CHAIRMA X X 0 0 0 LARRY M LESLIE MD SECRETARY/TR X X 0 0 0 LOWELL D MARTIN MD MEMBER X 0 0 0 RACHEL D MULLINAX MEMBER X 0 0 0 DAVID W MARTIN MEMBER X 0 0 0 STEVEN NEIL MIDDLETON MEMBER X 0 0 0 BEN PARK MEMBER X 0 0 0 KAREN R SELLERS MEMBER X 0 0 0 ROBERT W FINLEY SR MEMBER X 0 0 0 KEVIN SMITH MEMBER X 0 0 0 PAUL THORNSBERRY MEMBER X 0 0 0 JANNA P VICE MEMBER X 0 0 0 HENRY WEBB MEMBER X 0 0 0 DR ANTHONY YONTS MEMBER X 0 0 0 273781 76253 2 false true false ALLIANCE CORPORATION 2014 KY RT 321 PRESTONSBURG KY 41653 CONTRACTING 3212432 PIONEER COLLEGE CATERERS INC 25055 W VALLEY PKWY SUITE 120 OLATHE KS 66061 FOOD SERVICE 937216 C&T BUILDERS 440 GOBLE BRANCH PRESTONSBURG KY 41653 CONTRACTING 746616 FURNITURE SOLUTIONS FOR THE WORKPLAC 1340 CLAY STREET CINCINNATI OH 45202 FURNITURE/EQUIP 624112 JRA 3225 SUMMIT SQUARE PLACE 200 LEXINGTON KY 40509 CONTRACTING 589527 22 1287200 14644953 466488 15932153 STUDENT TUITION & FEES 7195337 7195337 ROOM & BOARD 3285520 3285520 JUNE BUCHANAN SCHOOL 298186 298186 FAC./STAFF HOUSING 71200 71200 PRE-SCHOOL TUITION 61371 61371 10911614 2112139 2112139 10869888 10712760 157128 157128 157128 83953 250379 -166426 -166426 OTHER AUXILIARY INCOME 118469 118469 CHANGE IN DISCOUNT & ALLOWANC -2797 -2797 ANNUITY INCOME -30231 -30231 -368104 -368104 -282663 28663945 10619653 2112139 2776587 2776587 409709 173412 89668 146629 5841184 4602139 946378 292667 1487105 1096075 286469 104561 83532 83532 122695 122695 79313 79313 1261956 215177 47537 999242 27812 26832 980 244238 244238 151190 55682 29552 65956 2807431 2765173 24097 18161 800921 800921 OPERATION AND MAINTENANCE 1763964 1737413 15140 11411 OTHER 1289378 792755 467161 29462 FOOD COSTS 841659 841659 TELEPHONE 706600 668989 37611 244243 244243 20939517 16240374 3031054 1668089 9441662 10136555 33703 40356 27188 488106 379456 97814130 36259087 55095819 61555043 70330948 75315645 997161 1019016 136427755 148432903 3090905 3690184 35011 31067 1169063 926323 4294979 4647574 X 99785693 109323160 32347083 34462169 132132776 143785329 136427755 148432903 X 7724428 4013511 -85386 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 3620 3620 false SCHEDULE C, PART I-A, LINE 1 GENERAL LOBBYING OF THE US CONGRESS WAS IN SUPPORT OF EDUCATION RELATED TO APPROPRIATIONS AND CONDUCTED THROUGH THE WORK COLLEGE CONSORTIUM LOBBYING SERVICES PROVIDED BY ARENT FOX, LLC OF WHICH ALICE LLOYD COLLEGE'S PORTION WAS 3,619.98. 57103324 2129770 6081548 2206603 60558039 59864522 3953370 -3818580 895988 57103324 47589491 1192544 1948993 866506 59864522 45026330 878149 1685012 47589491 43329427 605742 1959964 868803 45026330 0.47680 0.52320 false false 1356095 1356095 79353893 23886886 55467007 14018715 12372201 1646514 3085427 3085427 61555043 OTHER SECURITIES 75315645 F 75315645 ANNUITY ADVANCES 926323 926323 28914324 250379 250379 28663945 28663945 21189896 250379 250379 20939517 20939517 SCHEDULE D, PAGE 2, PART V, LINE 4 ALICE LLOYD COLLEGE PROVIDES A LIBERAL ARTS EDUCATION TO STUDENTS FROM A 108 COUNTY AREA IN APPALACHIA. A MAJORITY OF STUDENTS ATTENDING ALICE LLOYD COLLEGE ARE FIRST GENERATION STUDENTS WITH LIMITED RESOURCES TO ATTEND INSTITUTIONS OF HIGHER EDUCATION. ALICE LLOYD COLLEGE DEPENDS UPON DONATIONS AND THE ENDOWMENT TO HELP STUDENTS FINANCIALLY THROUGH THE COLLEGE LEADERSHIP SCHOLARSHIP. STUDENTS ATTENDING ALICE LLOYD COLLEGE FROM THE 108 COUNTY AREA IN APPALACHIA PAY 0 TUITION. THE COLLEGE ENDOWMENT IS PREDOMINANTLY USED TO FUND ALICE LLOYD COLLEGE'S LEADERSHIP AND OTHER SCHOLARSHIPS WHICH TOTALED IN EXCESS OF 2.7 MILLION IN FISCAL YEAR 2022-2023 AND WAS APPLIED TOWARDS THE COST OF TUITION. THE ENDOWMENT ALLOWS ALICE LLOYD COLLEGE TO ASSIST STUDENTS IN MAINTAINING A LOW GRADUATION DEBT. THE LAST SEVERAL YEARS ALICE LLOYD COLLEGE HAS RANKED AT OR NEAR THE TOP NATIONALLY IN LOW STUDENT DEBT. SCHEDULE D, PAGE 4, PART XI, LINE 2D BOOKSTORE COST OF GOODS SOLD 250,379 SCHEDULE D, PAGE 4, PART XII, LINE 2D BOOKSTORE COST OF GOODS SOLD 250,379 true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 COLLEGE CATALOG; PUBLISHED IN AREA NEWSPAPERS, RADIO AND TELEVISION ADVERTISEMENT; POLICIES ARE ALSO PUBLISHED AT SUMMER ORIENTATION FOR STUDENTS AND FAMILIES. SCHEDULE E, LINE 6 THE COLLEGE RECEIVES FINANCIAL AID FOR ITS STUDENTS UNDER TITLE IV FINANCIAL AID PROGRAMS: PELL, FCWS, SEOG, AND STUDENT LOANS. THE COLLEGE ADHERES TO ALL POLICIES AND PROCEDURES FOR THE RECORDING AND DISBURSEMENT OF SUCH FUNDS. false SCHOLARSHIP/STUDENT AID 591 2776587 SCHEDULE I, PAGE 1, PART I, LINE 2 STUDENT FINANCIAL AID PROCEDURES TYPICALLY FOLLOWED BY COLLEGES IN THE UNITED STATES USING FAFSA AND THE COLLEGE'S FINANCIAL AID APPLICATION CRITERIA. FEDERAL GRANTS ARE SUBJECT TO THE SINGLE AUDIT ACT OF THE UNITED STATES. SCHEDULE I, PAGE 4, PART IV SCHEDULE I, PART III- SCHOLARSHIPS/STUDENT AID GRANTS - INCLUDES PRIMARILY ROOM AND BOARD, BOOKS AND SUPPLIES ASSISTANCE. THE AMOUNT OF TUITION SCHOLARSHIPS/STUDENT AID FOR THE YEAR WAS 2,776,587. X X true true X false false false false false false false false false JOE STEPP CHANCELLOR 184113 43273 227386 ROBERT FINLEY- OPPENHEIMER BOARD MEMBER ROBERT FINLEY false JAMES O STEPP PRESIDENT JAMES O. STEPP false SCHEDULE L, PART V PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: ROBERT FINLEY - OPPENHEIMER & COMPANY (D) DESCRIPTION OF TRANSACTION: ROBERT FINLEY IS A PAID BROKER/INVESTMENT ADVISOR FOR THE COLLEGE THROUGH OPPENHEIMER & COMPANY. ROBERT FINLEY, BOARD MEMBER, IS AN EMPLOYEE OF OPPENHEIMER & COMPANY WHO HANDLES THE COLLEGE'S INVESTMENTS. (A) NAME OF PERSON: JAMES O. STEPP (B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: PRESIDENT (D) DESCRIPTION OF TRANSACTION: JAMES O. STEPP RECEIVES TAXABLE COMPENSATION FROM THE COLLEGE AS THE EXECUTIVE VICE PRESIDENT AND HAS BEEN EMPLOYED WITH THE COLLEGE SINCE 1985 AND IS THE BROTHER TO THE CHANCELLOR, JOE A. STEPP. W-2 WAGES FOR 2022 WERE 146,629. X 17 4416 NYSE AND NASDAQ X 14 462072 false false false FORM 990 - ORGANIZATION'S MISSION THE MISSION OF ALICE LLOYD COLLEGE IS TO PROVIDE MOUNTAIN STUDENTS A QUALITY CHARACTER-BASED EDUCATION, REGARDLESS OF THEIR FINANCIAL ABILITY, AND TO PREPARE THEM FOR LEADERSHIP AND SERVICE IN THE APPALACHIAN REGION. NO STUDENT HAS EVER BEEN TURNED AWAY BECAUSE OF AN INABILITY TO PAY. FORM 990, PAGE 2, PART III, LINE 4A INSTRUCTION ALICE LLOYD COLLEGE (ALC) HAD AN ENROLLMENT OF 561 STUDENTS FOR THE FALL 2023 SEMESTER, 561 FULL-TIME AND 37 PART-TIME. FULL-TIME STUDENTS FROM OUR 108-COUNTY SERVICE AREA (INCLUDES PARTS OF KY, OH, TN, VA, AND WV) ARE GUARANTEED ABSOLUTELY NO OUT OF POCKET COSTS FOR TUITION. ALC IS ONE OF ONLY TEN WORK COLLEGES IN THE NATION THAT REQUIRES ALL FULL-TIME STUDENTS TO WORK AS A CONDITION FOR ENROLLMENT. EACH YEAR, THE COLLEGE SUPPORTS MANY ALUMNI AT GRADUATE AND PROFESSIONAL SCHOOLS THROUGH ITS CANEY SCHOLARS PROGRAM. THIS YEAR, FIFTY-SIX CANEY SCHOLARS ARE PURSUING DEGREES FOR THE 2023-2024 ACADEMIC YEAR (FORTY-ONE RETURNING SCHOLARS AND FIFTEEN NEW SCHOLARS). THE TOP AREAS OF STUDY FOR OUR SCHOLARS ARE: FOURTEEN PHARMACY, EIGHT MEDICAL, SIX PHYSICAL THERAPY, THREE LAW, OCCUPATIONAL THERAPY, OPTOMETRY AND PHYSISCIAN ASSISTANTS, TWO BIOMEDICAL SCIENCES, DENTISTRY, AND ENGLISH, AND ONE ENGINEERING. OVER THE COURSE OF THE YEAR, EIGHTEEN CANEY SCHOLARS WILL BE RESIDING AT THE CANEY COTTAGE IN LEXINGTON, KENTUCKY. THIRTEEN SCHOLARS COMPLETED THEIR PROGRAMS OF STUDY DURING THE 2022-2023 ACADEMIC YEAR. ALC PROVIDED 2,776,587 IN INSTITUTIONAL LEADERSHIP GRANTS AND 716,250 IN INSTITUTIONAL STUDENT WORK GRANTS FOR THE 2022-2023 FISCAL YEAR. THE PROGRAM SERVICE ACCOMPLISHMENTS INCLUDED GRADUATING 92 STUDENTS IN MAY 2023. THIRTY-EIGHT PERCENT OF ALC'S CLASS OF 2023 GRADUATED WITH NO STUDENT LOAN DEBT. THE AVERAGE LOAN DEBT FOR THE REMAINING ALC CLASS OF 2023 WAS 11,370 COMPARED TO A NATIONAL AVERAGE OF 28,950. APPROXIMATELY 80 PERCENT OF ALC GRADUATES SERVE THE APPALACHIAN AREA BASED UPON RESEARCH CONDUCTED BY THE OFFICE OF ALUMNI RELATIONS. FORM 990, PAGE 2, PART III, LINE 4B AUXILIARY AUXILIARY COLLEGE HOUSING AND MEAL PLAN, ALONG WITH THE CAMPUS BOOKSTORE, CONCESSIONS, AND CAF, ARE PRIMARILY PART OF THE AUXILIARY SERVICES. THE CAMPUS HAS THE CAPACITY TO HOUSE NEARLY 625 STUDENTS WITH 473 STUDENTS LIVING IN THE DORMS FOR FALL 2023 COMPARED TO 484 STUDENTS LIVING IN THE DORMS FOR FALL 2022. THE COLLEGE TERMINATED ITS CONTRACT WITH AN ONLINE BOOK RETAILER AND PROVIDER IN THE SPRING OF 2023 TO MAKE THE MOVE TOWARDS OPEN EDUCATIONAL RESOURCES (A MORE VIABLE OPTION FOR OUR STUDENTS TO KEEP COSTS AS LOW AS POSSIBLE). OPEN EDUCATIONAL RESOURCES (OER) ARE FREE AND ACCESSIBLE TEACHING, LEARNING, AND RESEARCH RESOURCES THAT ARE FOUND IN THE PUBLIC DOMAIN OR HAVE BEEN RELEASED UNDER AN INTELLECTUAL PROPERTY LICENSE THAT PERMITS THEIR USE AND RE-PURPOSING BY OTHERS. THE COLLEGE HAS ALSO INVESTED 100,000 OF ITS OWN FUNDS, PROVIDED BY THE BOARD OF DIRECTORS IN THE FALL 2023 BOARD MEETING, TO PURCHASE ANY TEXTBOOKS FOR ANY COURSES OFFERED BY THE COLLEGE THAT CANNOT BE FOUND THROUGH THE OER DOMAIN FOR OUR STUDENTS. THE JUNE BUCHANAN SCHOOL (JBS) HAD AN ENROLLMENT OF 122 STUDENTS FOR FALL 2023 WITH 26 STUDENTS ENROLLED IN ALC COURSES FOR THE FALL SEMESTER. THE CANEY HONORS ACHIEVEMENT PROGRAM (CHAP) ENABLES JBS STUDENTS TO CHALLENGE THEMSELVES FURTHER IN THEIR STUDIES AND RECEIVE COLLEGE CREDITS WHILE IN HIGH SCHOOL. FORM 990, PAGE 2, PART III, LINE 4C STUDENT SERVICES STUDENT SERVICES PROGRAMS INCLUDE LEADERSHIP, EDUCATION, ATHLETICS, INTRAMURALS, COUNSELING, CAREER PLACEMENT, STUDENT ACTIVITIES BOARD (WHICH PLANS A STUDENT ACTIVITIES CALENDAR EACH SEMESTER), DINING FACILITIES, DORMITORY FACILITIES, BRIDGE PROGRAM (WHICH HELPS STUDENTS MAKE THE TRANSITION FROM HIGH SCHOOL TO COLLEGE), CONVOCATION SERIES, POLICE DEPARTMENT, AND SUMMER AND FALL ORIENTATIONS. CONSTRUCTION PROJECTS/CAMPUS IMPROVEMENTS ALICE LLOYD COLLEGE HAS COMPLETED CONSTRUCTION OF TWO NEW WOMEN'S RESIDENCE HALLS WITH THE FIRST, HERMANN HALL, COMPLETED AND OCCUPIED IN AUGUST 2021. HERMANN HALL HAS THE CAPACITY TO HOUSE 150 WOMEN AND CURRENTLY HOUSES 139 WOMEN DURING THE FALL 2023 SEMESTER. THE SECOND DORM, HOLMES HALL, WAS COMPLETED AND TOOK OCCUPANCY IN AUGUST 2023. HOLMES HALL HAS THE CAPACITY TO HOUSE 150 WOMEN AND CURRENTLY HOUSES 97 WOMEN DURING THE FALL 2023 SEMESTER. TOTAL OCCUPANCY IS ANTICIPATED TO BE 300 STUDENTS WITH ONLY TWO STUDENTS IN A ROOM. ALICE LLOYD COLLEGE HAS CONSTRUCTED THESE TWO NEW RESIDENCE HALLS WITHOUT INCURRING ANY DEBT. THE COLLEGE HAS BEGAN THE PROCESS OF REMODELING OUR THREE BOYS DORMITORIES (HOWARD MEMORIAL HALL, BERGER-AUEN HALL, AND CARRICK HALL). THE REMODEL FOR THE DORMS IS ESTIMATED AT 4.7 MILLION. THIS WILL BE AN ON-GOING PROCESS, WITH A GOAL TO BE COMPLETED WITH ALL REMODEL PHASES BY 2025. THE COLLEGE IS IN THE FINAL STAGES OF ADDING A CHAPEL BELL TOWER THAT WILL BE CENTRALLY LOCATED ON CAMPUS FOR ALL FACULTY, STAFF, AND STUDENTS. THE CHAPEL BELL TOWER IS AN EXCELLENT AND AESTHETICALLY PLEASING ADDITION TO THE COLLEGE CAMPUS. THE STRUCTURE IS APPROXIMATELY 400 SQUARE FEET WITH MULTIPLE LEVELS CONSTRUCTED ON DRILLED PIER CONCRETE FOUNDATIONS WITH GRADE BEAMS, STEM WALLS, SLAB-ON-GRADE WITH COLD FORMED AND STRUCTURAL STEEL FRAMING. THE PROJECT HAD A TOTAL COST OF 1.3 MILLION THAT WAS FULLY FUNDED BY FUNDRAISING EFFORTS OF THE PRESIDENT AND DEVELOPMENT OFFICE THROUGH GENEROUS DONORS AND ALUMNI. THE CATASTROPHIC FLOOD THAT WRECKED PARTS OF EASTERN KENTUCKY IN 2022 LEFT A LASTING IMPACT ON OUR COLLEGE CAMPUS. FOLLOWING THE FLOODING, THE COLLEGE, THROUGH A GENEROUS DONATION FROM AN OUTSIDE SOURCE, WAS ABLE TO BEGIN CONSTRUCTION ON A HALF MILE LONG RETAINING WALL ON BOTH SIDES OF CANEY CREEK THAT RUNS THROUGHOUT THE ENTIRE CAMPUS. THE PROJECT IS NEARING COMPLETION, WHICH SAW REPLACEMENTS AND IMPROVEMENTS TO ALL OF THE BRIDGES THROUGHOUT CAMPUS THAT WERE ALSO DAMAGED IN THE FLOODING. THE PROJECT IS ESTIMATED TO COST 7 MILLION AFTER CONSTRUCTION IS COMPLETED, ENTAILING SAFETY FENCING ALONG THE WALL, LANDSCAPING ALONG THE WALL, AND ASPHALT THROUGHOUT CAMPUS TO REPAIR THE PURPOSE ROAD. COMMUNITY SERVICE PROJECTS ALICE LLOYD COLLEGE CAMPUS MINISTRY, ACADEMIC FRATERNITY PHI BETA LAMDA (PBL), ATHLETICS, AND STUDENT SERVICES WERE ABLE TO PROVIDE FOR COMMUNITY NEEDS. PBL WAS ABLE TO INCREASE THE NUMBER OF SACK PACKS DELIVERED WEEKLY TO LOCAL NEEDY ELEMENTARY STUDENTS FROM THIRTY TO SIXTY. PBL ALSO PICKED UP A SECOND SCHOOL TO PREPARE BAGS FOR. THERE WERE A TOTAL OF TWENTY-TWO MEMBERS WHO PARTICIPATED THROUGHOUT THE YEAR. PBL MEMBERS ALSO SPONSORED AN ONLINE BOOK DRIVE FOR THE HINDMAN PRE-SCHOOL AND RECEIVED OVER SIXTY BOOKS WHICH WERE DELIVERED TO THE SCHOOL IN SEPTEMBER 2023 BEFORE CLASSES BEGAN. PBL ALSO HOSTED A SUCCESSFUL BREAST CANCER AWARENESS CAMPAIGN AND A MARCH OF DIMES CONVOCATION, WITH EACH EVENT RAISING FUNDS TO BE ALLOCATED TOWARDS THE COLLECTIVES. ADDITIONALLY, THE COLLEGE COMMUNITY PARTICIPATED IN BLOOD DRIVES AND ANIMAL SHELTER CLEANUP PROJECTS. CAMPUS MINISTRY ENTAILS UPHOLDING THE COLLEGE'S PHILOSOPHY THAT IS BASED ON CHRISTIAN FAITH AND PROMOTES CHRISTIAN PRINCIPLES AND VALUES. THE COLLEGES CAMPUS MINISTRY HAS AN ACTIVE STUDENT MINISTRY, WHICH IS OPEN TO ALL DENOMINATIONS. CAMPUS MINISTRIES VISITS LOCAL NURSING HOMES PERIODICALLY. STUDENTS PLAY BINGO, BIBLE TRIVIA GAMES, AND SINGS SONGS WITH RESIDENTS. THEY ALSO HAND OUT CROSSWORD PUZZLES, WORD SEARCHES, AND MAGAZINES. CAMPUS MINISTRIES ALSO SERVES AS A DROP OFF LOCATION FOR OPERATION CHRISTMAS CHILD. THROUGHOUT THE YEAR, CAMPUS MINISTRIES COLLECTED OVER ONE-THOUSAND SHOEBOXES THAT WERE SENT TO CHILDREN AROUND THE WORLD. STUDENTS IN THE WORK-STUDY PROGRAM COMPLETED 37,809 WORK HOURS IN AREAS DESIGNATED AS COMMUNITY SERVICE POSITIONS. 32,695 HOURS WERE DESIGNATED WORK COLLEGE WORK-STUDY AND FEDERAL WORK-STUDY, WHILE 5,114 HOURS WERE PAID WITH INSTITUTIONAL DOLLARS. COMMUNITY SERVICE JOBS INCLUDE THE JUNE BUCHANAN SCHOOL, THE CHILD DEVELOPMENT CENTER, THE LIBRARY, THE CRAFT SHOP AND CHRISTMAS PRETTIES PROGRAM, MARKETING, BOTH THE HUNGER DIN AND MISS IRMA'S CAF, AS WELL AS THE POLICE DEPARTMENT. WE ARE ALSO REQUIRED TO EMPLOY STUDENTS AS READING AND MATH TUTORS AND THOSE STUDENTS COMPLETED 1,026 HOURS WITHIN THOSE AREAS. FORM 990, PAGE 2, PART III, LINE 4D ACADEMIC EXPENSES 3,754,241. INCLUDING GRANTS OF 80,015. REVENUE 0. JUNE BUCHANAN EXPENSES 1,095,443. INCLUDING GRANTS OF 45,612. REVENUE 0. STUDENT AID EXPENSES 2,776,587, INCLUDING GRANTS OF 2,776,587. REVENUE 0. FORM 990, PAGE 6, PART VI, LINE 2 JAMES O. STEPP JOE STEPP PRESIDENT CHANCELLOR BROTHERS FORM 990, PAGE 6, PART VI, LINE 11B MANAGEMENT APPOINTED TO REVIEW FOR 990. THE GOVERNING BODY WILL RECEIVE A COPY OF THE FORM 990 IN DECEMBER WITH A LETTER ASKING THAT ANY QUESTIONS BE DIRECTED TO THE VICE PRESIDENT FOR BUSINESS AFFAIRS. THE 990 IS REVIEWED INTERNALLY BY THE PRESIDENT, EXECUTIVE SECRETARY, VICE PRESIDENT FOR BUSINESS AFFAIRS, CONTROLLER, AND DIRECTOR OF HUMAN RESOURCES. VARIOUS PARTS ARE PREPARED AND EDITED BY THE VICE PRESIDENT FOR INSTITUTIONAL ADVANCEMENT, PROVOST, AND THE EXECUTIVE DIRECTOR OF INSTITUTIONAL EFFECTIVENESS AND ACCREDITATION, WITH INFORMATION FROM ALL DEPARTMENTS. FORM 990, PAGE 6, PART VI, LINE 12C THE COLLEGE HAS A CONFLICT OF INTEREST POLICY, AS WELL AS A CONFLICT OF INTEREST DISCLOSURE DOCUMENT THAT TRUSTEES AND EXECUTIVE DIRECTORS ARE ASKED TO SIGN, AND HAVE THEIR SIGNATURE WITNESSED EACH YEAR. THE DISCLOSURE DOCUMENT IS GIVEN TO THE TRUSTEES IN OCTOBER. THE SECRETARY TO THE PRESIDENT FOLLOWS UP WITH THOSE WHO DO NOT RETURN THEIR DOCUMENT WITHIN A REASONABLE PERIOD OF TIME. BEGINNING WITH THE JANUARY 2010 EXECUTIVE REPORT UNDER COLLEGE GOVERNANCE, THE CONFLICT OF INTEREST POLICY WILL BE REVIEWED ANNUALLY. FORM 990, PAGE 6, PART VI, LINE 15A THE PRESIDENT'S SALARY IS SET BY THE BOARD OF TRUSTEES, UPON THE RECOMMENDATION OF THE EXECUTIVE COMMITTEE. THE PRESIDENT MAKES A RECOMMENDATION TO THE EXECUTIVE COMMITTEE, AND BOARD, FOR PAY INCREASES FOR LINE OFFICERS AND OTHER EMPLOYEES OF THE COLLEGE. THE PRESIDENT WILL PERIODICALLY (EVERY 2-3 YEARS) REQUEST A COMPARATIVE SALARY LIST FROM THE ASSOCIATION OF INDEPENDENT KENTUCKY COLLEGES AND UNIVERSITIES (AIKCU). FORM 990, PAGE 6, PART VI, LINE 15B THE PRESIDENT'S SALARY IS SET BY THE BOARD OF TRUSTEES, UPON THE RECOMMENDATION OF THE EXECUTIVE COMMITTEE. THE PRESIDENT MAKES A RECOMMENDATION TO THE EXECUTIVE COMMITTEE, AND BOARD, FOR PAY INCREASES FOR LINE OFFICERS AND OTHER EMPLOYEES OF THE COLLEGE. THE PRESIDENT WILL PERIODICALLY (EVERY 2-3 YEARS) REQUEST A COMPARATIVE SALARY LIST FROM THE ASSOCIATION OF INDEPENDENT KENTUCKY COLLEGES AND UNIVERSITIES (AIKCU). FORM 990, PAGE 6, PART VI, LINE 19 AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9 ANNUITY PAYMENTS -85,386