2022-05-09T13:56:07-05:00 2021-06-30 390859910 BAKER TILLY US LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2020-07-01 231352354 LEBANON VALLEY COLLEGE LEBA 7178676421 101 NORTH COLLEGE AVENUE ANNVILLE PA 17003 SHAWN P CURTIN VP FINANCE & ADMINISTRATION 7178676421 2022-05-09 1 SHAWN CURTIN 999009999 KERRI N BOGDA CPA P00760402 7177404863 X 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z JAMES MACLAREN 101 NORTH COLLEGE AVENUE ANNVILLE PA 17003 136336008 0 X WWW.LVC.EDU X 1866 PA PROVIDES EDUCATIONAL SERVICES AT THE UNDERGRADUATE AND GRADUATE LEVEL. 33 28 1454 948 10077 0 10795301 16909172 89944577 91291592 3040634 5216364 832271 200233 104612783 113617361 46522614 49028114 0 0 31089870 33152413 0 0 1776019 26986264 21238856 104598748 103419383 14035 10197978 214348628 239485447 57721217 53834652 156627411 185650795 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. 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 93538919 49028114 91291592 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, INTELLIGENCE AND SECURITY STUDIES, SCIENCE IN STEM EDUCATION, EDUCATION, MUSIC 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 2,041 STUDENTS PRODUCES ALUMNI WHO ATTEND PRESTIGIOUS GRADUATE AND PROFESSIONAL SCHOOLS AND ARE EMPLOYED BY TOP COMPANIES AND SCHOOL DISTRICTS.TWENTY-NINE PERCENT OF OUR STUDENT ARE FIRST GENERATION, 22% OF ALL STUDENTS AND 26% OF FALL 2021 FIRST-YEAR STUDENTS ARE 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, DESPITE COVID-19, OUR STUDENTS VOLUNTEERED MORE THAN 14,000 HOURS OF COMMUNITY SERVICE DURING THE 2020-2021 ACADEMIC YEAR. 93538919 1 1 0 1 0 0 0 1 0 1 1 1 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 2597 0 1454 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 33 28 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 ELYSE E ROGERS CHAIR 1.00 X X 0 0 0 KRISTEN R ANGSTADT VICE CHAIR 1.00 X X 0 0 0 JAMES MACLAREN PRESIDENT 40.00 X X 208145 0 30091 ELIZABETH R UNGER ASSISTANT SECRETARY 1.00 X X 0 0 0 SETH MENDELSOHN VICE CHAIR/ADJUNCT FACULTY 1.00 X X 4500 0 0 AJI M ABRAHAM 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 EDWARD D BREEN TRUSTEE 1.00 X 0 0 0 TRUMAN T BROOKS III 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 JAMES G GLASGOW TRUSTEE 1.00 X 0 0 0 ROBERT E HARBAUGH TRUSTEE 1.00 X 0 0 0 RICHARD E HARPER TRUSTEE 1.00 X 0 0 0 M LOUISE HESS TRUSTEE 1.00 X 0 0 0 WENDIE DIMATTEO HOLSINGER TRUSTEE 1.00 X 0 0 0 GEORGE J KING 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 ALLEN M NEWSOME TRUSTEE 1.00 X 0 0 0 KAREN A SCHMITT TRUSTEE 1.00 X 0 0 0 TRACEY A STOVER TRUSTEE 1.00 X 0 0 0 RYAN H TWEEDIE TRUSTEE 1.00 X 0 0 0 JOSEPH F RILATT TRUSTEE 1.00 X 0 0 0 MELISSA POOLE TRUSTEE 1.00 X 0 0 0 BRUNILDA MARTINEZ TRUSTEE 1.00 X 0 0 0 JOAN SQUIRES TRUSTEE 1.00 X 0 0 0 CHRISTOPHER DOLAN FACULTY TRUSTEE 1.00 X 67363 0 27269 KENNETH YARNALL FACULTY TRUSTEE 1.00 X 74493 0 22306 CHRISTOPHER J HEFFNER FACULTY TRUSTEE 1.00 X 68610 0 20970 GIGI MOSTAFA STUDENT TRUSTEE 1.00 X 0 0 0 BRANDON N KEMMERY STUDENT TRUSTEE 1.00 X 687 0 0 TREVA CLARK FACULTY TRUSTEE (UNTIL 5/21) 1.00 X 102383 0 13127 JARED KRAMER STUDENT TRUSTEE (UNTIL 5/21) 1.00 X 0 0 0 LYNN G PHILLIPS TRUSTEE (UNTIL 5/21) 1.00 X 0 0 0 ELLIOTT ROBINSON TRUSTEE (UNTIL 5/21) 1.00 X 0 0 0 MATTHEW WEAVER SECRETARY/VP ADVANCEMENT 40.00 X 165807 0 23730 SHAWN P CURTIN TREASURER/VP FINANCE 40.00 X 223256 0 36397 MONICA COWART PROVOST/VP ACADEMIC AFFAIRS 40.00 X 219692 0 35509 EDWIN WRIGHT VP OF ENROLLMENT MANAGEMENT 40.00 X 191251 0 33354 DAVID SHAPIRO SR. DIRECTOR OF IT 40.00 X 145186 0 26938 STAN DACKO ASSO. PROFESSOR OF PHYSICAL THERAPY 40.00 X 139256 0 33212 SUSAN TAMMARO ASSOCIATE PROVOST 40.00 X 139181 0 17770 ROBERT MIKUS VP STUDENT AFFAIRS/DEAN OF STUDENTS 40.00 X 131684 0 13075 MOLLY O'BRIEN-FOELSCH VP MARKETING & COMMUNICATIONS 40.00 X 124036 0 11397 LEWIS E THAYNE FORMER PRESIDENT (UNTIL 5/20) 0.00 X 404353 0 45901 2409883 0 391046 29 1 1 0 METZ CULINARY MANAGEMENT 2 WOODLAND DR DALLAS PA 18612 FOOD SERVICES 3438436 JEM GROUP LLC 509 NORTH SECOND ST HARRISBURG PA 17101 CONSTRUCTION SERVICES 1286300 KREIDER CONSTRUCTION INC PO BOX 196 ANNVILLE PA 17003 CONSTRUCTION SERVICES 337169 RICHARD L SENSENIG CO 183 S MARKET ST EPHRATA PA 17522 CONSTRUCTION SERVICES 229170 WAYBETTER MARKETING INC 4010 CHATHAM RD ELLICOTT CITY MD 21042 ADVERTISING SERVICES 227563 18 8158 67262 7661834 9171918 300298 16909172 STUDENT TUITION AND FEES 611310 81714008 81714008 AUXILIARY ENTERPRISES 611310 9577584 9577584 91291592 1081999 3028 1078971 113093 62196 50897 50897 50897 26765936 22631571 4134365 4134365 4134365 24274 67262 24880 -606 -606 BARNES & NOBLE 900099 83091 83091 VEHICLE REG./RENTAL 480000 22370 22370 SERVICE ROOM 517000 19657 19657 24824 7049 17775 149942 113617361 91291592 10077 5406520 56750 56750 48971364 48971364 1772577 694211 863347 215019 23772904 20241619 2754827 776458 1648855 1396929 180729 71197 4141462 3418165 554962 168335 1816615 1489624 254326 72665 46548 34059 12200 289 89150 65231 23366 553 33300 33300 246816 246816 3734780 2757105 954314 23361 1189963 422080 729090 38793 1876178 1420688 271652 183838 67183 61136 5442 605 1270665 1156305 102924 11436 281279 225660 48285 7334 938508 854042 76019 8447 6751627 6143980 546882 60765 620091 564283 50227 5581 REPAIRS & MAINTENANCE 1814896 1651555 147007 16334 LIBRARY MATERIALS 699479 699479 BOOSTER EXPENSE 557693 456862 55212 45619 STUCO/CULTURAL PROGRAMM 226172 185280 22391 18501 794528 572512 171127 50889 103419383 93538919 8104445 1776019 4000 4000 15020494 23478650 9811294 8941210 4303041 10651705 1700433 1272892 28065 22255 1355445 1299558 214661025 115145842 102868735 99515183 60448273 74230177 14900056 15555413 3908792 4514404 214348628 239485447 6487505 7424466 357572 308200 40757776 39824154 355879 138975 9762485 6138857 57721217 53834652 X 90607081 99473938 66020330 86176857 156627411 185650795 214348628 239485447 X 10197978 15599134 3226272 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 33300 33300 0 PART II-B, LINE 1: THE COLLEGE PAID $33,300 TO LONG NYQUIST & ASSOCIATES TO ASSIST IN IDENTIFYING AND APPLYING FOR ELIGIBLE GRANTS. X X X 0 67825446 1339012 19707854 1525498 1610024 85736790 68779262 2509653 -327949 1502891 1632629 67825446 67380556 2472246 1956992 1441297 1589235 68779262 64503909 1037067 4661315 1306386 1515349 67380556 57520255 2625832 7032742 1243889 1431031 64503909 0.22000 0.52000 0.26000 0 0 2474725 2474725 169310300 83147451 86162849 23356420 19335135 4021285 19519580 12663256 6856324 99515183 ALTERNATIVE INVESTMENTS 15224197 F CSV LIFE INSURANCE POLICIES 331216 F 15555413 LIABILITY ON ANNUITY CONTRACTS 610925 STUDENT CREDIT BALANCES AND DEPOSITS 1311169 ADVANCES FROM FEDERAL GOVERNMENT FOR STUDENT LOANS 1802602 ACCRUED INTEREST, SWAP AGREEMENT 2414161 6138857 X 83188642 15599134 -46114929 -30515795 113704437 -87076 -87076 113617361 54165258 -3145812 -3145812 57311070 46108313 46108313 103419383 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 -6,616. INVESTMENT EXPENSES NETTED AGAINST REVENUE ON FINANCIALS -238,677. STUDENT EDUCATIONAL GRANTS NETTED AGAINST REVENUE ON FINANCIALS -45,869,636. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -62,196. FUNDRAISING EXPENSES -24,880. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 62,196. FUNDRAISING EXPENSES 24,880. CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENT -3,232,888. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT EXPENSES NETTED AGAINST REVENUE ON FINANCIALS 238,677. STUDENT EDUCATIONAL GRANTS NETTED AGAINST REVENUE ON FINANCIALS 45,869,636. 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 2021, 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 0 0 INVESTMENTS 332008 0 0 0 0 0 0 332008 0 332008 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 2020. LVEP GOLF TOURNAMENT 40896 35917 4979 1719 2880 380 606 LVC GOLF CLASSIC 20695 10569 10126 400 1650 4200 3720 156 2 29945 20776 9169 624 7054 648 843 91536 67262 24274 400 3993 14134 4748 1605 24880 -606 1 ANNVILLE TOWNSHIP 36 NORTH LANCASTER STREET ANNVILLE PA 17003 236003026 N/A 30000 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 1623 45591062 0 N/A N/A PELL GRANTS 369 1670554 0 N/A N/A HEERF CRRSSA STUDENT AID 825 721470 0 N/A N/A HEERF CARES STUDENT AID 841 333774 0 N/A N/A STUDENT AWARDS 139 324294 0 N/A N/A SEOG GRANTS 74 278574 0 N/A N/A TEACH GRANTS 8 28251 0 N/A N/A FACULTY ACADEMIC GRANTS 38 23385 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 LEWIS E THAYNE FORMER PRESIDENT (UNTIL 5/20) 219353 0 0 0 185000 0 25650 0 20251 0 450254 0 0 0 SHAWN P CURTIN TREASURER/VP FINANCE 223256 0 0 0 0 0 20970 0 15427 0 259653 0 0 0 MONICA COWART PROVOST/VP ACADEMIC AFFAIRS 219692 0 0 0 0 0 19800 0 15709 0 255201 0 0 0 JAMES MACLAREN PRESIDENT 208145 0 0 0 0 0 17850 0 12241 0 238236 0 0 0 EDWIN WRIGHT VP OF ENROLLMENT MANAGEMENT 191251 0 0 0 0 0 18000 0 15354 0 224605 0 0 0 MATTHEW WEAVER SECRETARY/VP ADVANCEMENT 165807 0 0 0 0 0 15150 0 8580 0 189537 0 0 0 STAN DACKO ASSO. PROFESSOR OF PHYSICAL THERAPY 139256 0 0 0 0 0 12695 0 20517 0 172468 0 0 0 DAVID SHAPIRO SR. DIRECTOR OF IT 145186 0 0 0 0 0 11739 0 15199 0 172124 0 0 0 SUSAN TAMMARO ASSOCIATE PROVOST 139181 0 0 0 0 0 12150 0 5620 0 156951 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 THE FORMER PRESIDENT, LEWIS E. THAYNE, RECEIVED SEVERANCE PAYMENT DURING THE CALENDAR YEAR 2020. A ANNVILLE TOWNSHIP AUTHORITY 236003026 2019-12-13 40935000 REFINANCE PRIOR BONDS 0 0 0 A 942735 40935000 212181 40722819 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 1 0 0 0 0 1 A 1 64000 STUDENT-AID SCHOLARSHIP X 14 298798 MEAN SHARE PRICE X EQUIPMENT 1 1500 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 - CHRISTOPHER J. HEFFNER - GIGI MOSTAFA - BRANDON N. KEMMERY FORM 990, PART XI, LINE 9: CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE POLICY -6,616. CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENT 3,232,888. 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 -219 757 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