2021-04-14T14:38:04-05:00 2020-05-31 420714325 RSM US LLP 111 ROUNDABOUT COURT ROCKY MOUNT NC 27804 990 2019-06-01 560547511 LOUISBURG COLLEGE LOUI 9194962521 501 N MAIN ST LOUISBURG NC 27549 DR GARY M BROWN PRESIDENT 9194973226 2021-04-13 1 STEPHEN BARNES P01221998 2524460111 2021-04-13 2019 2022-09-23 18:48:47Z DR GARY M BROWN 501 N MAIN ST LOUISBURG NC 27549 17808121 0 X HTTP://WWW.LOUISBURG.EDU/ X 1928 NC TO PROVIDE EDUCATION OPPORTUNITIES TO STUDENTS UNDER A COLLEGE DEGREE PROGRAM. 26 25 339 25 0 0 2049713 2248178 17052326 14701334 555789 809817 249706 46587 19907534 17805916 3938828 3831521 0 0 5934642 6207474 0 0 270307 8849591 7307891 18723061 17346886 1184473 459030 48585741 48253660 24023703 23490898 24562038 24762762 X (SEE CONTINUATION OF PRIMARY MISSION STATEMENT ON SCHEDULE O) RELATED BY FAITH TO THE UNITED METHODIST CHURCH, LOUISBURG COLLEGE IS COMMITTED TO OFFERING A SUPPORTIVE COMMUNITY WHICH NURTURES YOUNG MEN AND WOMEN INTELLECTUALLY, CULTURALLY, SOCIALLY, PHYSICALLY, AND SPIRITUALLY. AS A TWO-YEAR RESIDENTIAL INSTITUTION, WE PROVIDE A BRIDGE FOR STUDENTS TO MAKE A SUCCESSFUL TRANSITION FROM HIGH SCHOOL TO SENIOR COLLEGES AND UNIVERSITIES. 0 0 14643813 3831521 14701334 (SEE CONTINUATION OF PROGRAM SERVICE ACCOMPLISHMENTS ON SCHEDULE O) THE COLLEGE CONTINUES TO ENJOY A CONSISTENT INCREASE OF STUDENTS WITH HIGHER GPA AVERAGES, AND HIGHER SAT/ACT SCORES IN MATH, ALL AS A RESULT OF STRATEGIC RECRUITMENT EFFORTS. COURSE COMPLETION RATES FOR THE YEAR TOTALED 79%.CONFIRMATION OF LOUISBURG'S SUCCESS IN PREPARING STUDENTS FOR THE NEXT STEPS IN THEIR COLLEGIATE CAREERS IS EVIDENCED BY THE NUMBER THAT TRANSFER TO FOUR YEAR INSTITUTIONS. OF THE GRADUATES OVER THE PAST FIVE YEARS, 83% OF THEM HAVE TRANSFERRED TO FOUR-YEAR INSTITUTIONS SUCH AS EAST CAROLINA UNIVERSITY, UNIVERSITY, UNIVERSITY OF NORTH CAROLINA AT GREENSBORO, NORTH CAROLINA CENTRAL AND UNIVERSITY OF NORTH CAROLINA AT CHARLOTTE, TO NAME JUST A FEW.ADDITIONAL INFORMATION ON STUDENT ACHIEVEMENT IS LOCATED AT HTTP://WWW.LOUISBURG.EDU/ACADEMICS/ACHIEVEMENT.HTML. 14643813 1 1 0 0 0 0 1 1 0 1 1 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 1 23 0 1 339 1 0 0 0 0 0 0 0 0 0 0 0 0 X 26 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 X ANNA FAATILIGA 9194973207 501 N MAIN STREET LOUISBURG NC 27549 FRANKLIN T ROBERTS TRUSTEE / CHAIRMAN 2.00 1.00 X X 0 0 0 LYNDA C LUMPKIN TRUSTEE / SECRETARY 1.00 1.00 X X 0 0 0 JOHN A ALLEN TRUSTEE 1.00 X 0 0 0 LUCY T ALLEN TRUSTEE 1.00 X 0 0 0 ANNE D BOWEN TRUSTEE 1.00 X 0 0 0 BILL BODDIE JR TRUSTEE 1.00 X 0 0 0 STEVEN E BROOKS TRUSTEE 1.00 1.00 X 0 0 0 LINDA F JOHNSON TRUSTEE 1.00 X 0 0 0 WILLIAM R CROSS TRUSTEE / EXECUTIVE COMMIT 1.50 1.00 X 0 0 0 DAVID T DEBERRY TRUSTEE / EXECUTIVE COMMIT 1.50 1.00 X 0 0 0 MARLA G COLEMAN TRUSTEE 1.00 X 0 0 0 SIDNEY E DUNSTON TRUSTEE 1.00 X 0 0 0 EMILY HODGES TRUSTEE / EXECUTIVE COMMIT 1.50 1.00 X 0 0 0 PEGGY W WINSTEAD TRUSTEE 1.00 X 0 0 0 WILLIAM NORRIS TRUSTEE / EXECUTIVE COMMIT 1.50 1.00 X 0 0 0 WARD SYLVESTER TRUSTEE 1.00 X 0 0 0 RUSSELL ODOM TRUSTEE 1.00 X 0 0 0 JASON A WILLIAMS TRUSTEE 1.00 X 0 0 0 W BRITT COBB JR TRUSTEE/EXECUTIVE COMMITTEE 1.50 1.00 X 0 0 0 SHARON H BRYSON TRUSTEE 1.00 X 0 0 0 C BOYD STURGES III TRUSTEE / EXECUTIVE COMMIT 1.50 1.00 X 0 0 0 ROGER G TAYLOR TRUSTEE 1.00 X 0 0 0 WILLIAM C SHELTON TRUSTEE 1.00 X 0 0 0 BOBBIE RICHARDSON TRUSTEE 1.00 X 0 0 0 CHARLES KNIGHT TRUSTEE 1.00 X 0 0 0 LYNDA W HUDSON TRUSTEE 1.00 X 0 0 0 DR GARY M BROWN PRESIDENT 40.00 5.00 X 202856 0 21427 STEPHANIE TOLBERT VICE PRESIDENT OF ENROLLME 40.00 X 112613 0 16639 ANNA FAATILIGA CFO 40.00 X 28007 0 2596 343476 0 40662 2 0 1 0 CHARTWELLS 501 N MAIN ST LOUISBURG NC 27549 DINING SERVICES 1756035 NATIONAL MANAGEMENT RESOURCES CORP 425 FOREST AVENUE LA GRANGE GA 30240 FACILITIES MANAGEMENT SERVICES 413341 13 1420620 827558 17452 2248178 TUITION AND FEES 611310 10259860 10259860 AUXILIARY ENTERPRISES 611310 4441474 4441474 14701334 406332 406332 43193 2205 40988 40988 40988 403485 0 403485 403485 403485 MISC. INCOME 900099 5599 5599 5599 17805916 14701334 0 856404 3831521 3831521 384138 307310 69145 7683 4583256 3666605 824986 91665 348827 279061 62789 6977 539220 431376 97060 10784 352033 281626 63366 7041 124239 99391 22363 2485 103743 82994 18674 2075 190380 152304 34268 3808 33203 26562 5977 664 123573 98859 22243 2471 694377 555501 124988 13888 125487 100389 22588 2510 786924 629540 141646 15738 1211610 969288 218090 24232 420861 336689 75755 8417 AUXILIARY 1527090 1221672 274876 30542 REPAIRS & MAINTENANCE 924208 739367 166357 18484 GENERAL SUPPLIES 516874 413500 93037 10337 STUDENT EVENTS 159207 127366 28657 3184 366115 292892 65901 7322 17346886 14643813 2432766 270307 4449 4895 3499975 4799220 197700 203288 400458 304877 159070 0 422174 399698 560915 471267 48068511 19639720 29371100 28428791 13212968 12874828 756932 766796 48585741 48253660 764408 1016148 775021 990061 21981995 20217357 502279 1267332 24023703 23490898 X 10157113 11151837 14404925 13610925 24562038 24762762 48585741 48253660 X 459030 -268171 9865 X X 0 0 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 1 92.00 0 0 0 1 1 1000.00 0 0 14040 X X X 0 13934844 713280 323389 712080 117129 14142304 14219355 1202360 152687 519102 120456 13934844 14164435 142228 699444 678102 108650 14219355 13646617 415220 668884 468966 97320 14164435 14331689 41852 -189758 452563 84603 13646617 0.06830 0.76870 0.16300 1 0 47229 1139605 1186834 250000 36287982 11334233 25203749 9732457 8166750 1565707 611238 138737 472501 28428791 AGENCY FUNDS 131815 LIABILITY FOR PENSION BENEFITS 16417 PPP LOAN 1119100 1267332 PART II, LINE 9: CONTRIBUTED PROPERTY AND EQUIPMENT IS RECORDED AT FAIR VALUE AT THE DATE OF DONATION. IF DONORS STIPULATE HOW LONG THE ASSETS MUST BE USED, THE CONTRIBUTIONS ARE RECORDED AS RESTRICTED SUPPORT. IN THE ABSENCE OF SUCH STIPULATIONS, CONTRIBUTIONS OF PROPERTY AND EQUIPMENT ARE RECORDED AS UNRESTRICTED SUPPORT. PART III, LINE 4: THE COLLEGE'S COLLECTIBLES CONSIST OF A 1860 WEBER GRAND PIANO, PAINTINGS AND ARTWORK. THE COLLECTIBLES ARE AVAILABLE FOR EDUCATION, PUBLIC EXHIBITION AND PRESEREVATION FOR FUTURE GENERATIONS. PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO PROVIDE ONGOING FINANCIAL SUPPORT FOR THE COLLEGE'S OPERATIONS OR SPECIFIC PROGRAMS OFFERED. PART V LINE 4 EARNINGS FROM ENDOWMENT FUNDS ARE AVAILABLE FOR THE PURPOSE SPECIFIED IN THE DONOR'S ENDOWMENT AGREEMENT, PRIMARILY SCHOLARSHIP ALLOWANCES TO STUDENTS. PARTS XI AND XII: DUE TO TIME RESTRICTIONS RELATED TO THE COVID-19 GLOBAL PANDEMIC, THE ORGANIZATION HAS NOT UNDERGONE AN INDEPENDENT FINANCIAL STATEMENT AUDIT FOR THE FISCAL YEAR ENDED MAY 31, 2020. SUCH AUDIT WILL TAKE PLACE SUBSEQUENT TO THE FILING OF FORM 990. 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 RACIALLY NONDISCRIMINATORY POLICY IS PUBLISHED ON LOUISBURG COLLEGE'S WEBSITE. SCHEDULE E, PART I, LINE 6 VARIOUS FINANCIAL AID AWARDS ARE RECEIVED FROM FEDERAL AND STATE AGENCIES TO ASSIST THE SCHOOL AND STUDENTS IN EDUCATIONAL OPPORTUNITIES. 1 SCHOLARSHIPS & GRANTS 680 3831521 0 PART I, LINE 2: STUDENTS ARE REQUIRED TO COMPLETE A FAFSA. ELIGIBILITY FOR SCHOLARSHIPS IS DETERMINED BY THE APPLICABLE FEDERAL AND STATE GUIDELINES, BY THEIR ACADEMIC CREDENTIALS, AND FINANCIAL NEED. STUDENTS ARE APPROPRIATELY AWARDED SCHOLARSHIPS IN THE FINANCIAL AID OFFICE AND THE AWARDS ARE TRANSFERRED TO THE STUDENTS' ACCOUNTS IN THE BUSINESS OFFICE. ALL SCHOLARSHIP AND GRANT FUNDS ARE RECONCILED EACH SEMESTER AND REPORTED TO THE APPROPRIATE AUTHORITIES OR AGENCIES. FUNDS ARE ALSO AUDITED ANNUALLY. X 1 1 X X X 0 0 0 0 0 0 0 0 0 DR GARY M BROWN PRESIDENT 202856 0 0 0 0 0 12300 0 9127 0 224283 0 0 0 PART I, LINE 1A THE COLLEGE PROVIDES A HOUSE FOR ITS PRESIDENT AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE COLLEGE. ACCORDINGLY, SUCH LODGING IS NOT INCLUDED IN TAXABLE INCOME. HODGES INSURANCE AGENCY TRUSTEE AND INSURANCE AGENT 353446 EMILY HODGES TRUSTEE OWNS HODGES INSURANCE AGENCY. PREMIUMS PAID FOR COMMERCIAL, STUDENT, ATHLETIC, AND LIABILITY INSURANCE POLICIES. 0 FORM 990, PART VI, SECTION B, LINE 11B THE TAX RETURN IS REVIEWED INTERNALLY THEN PRESENTED TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES FOR APPROVAL. THE FINAL RETURN IS PROVIDED TO ALL MEMBERS OF THE GOVERNING BODY ELECTRONICALLY PRIOR TO ITS SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE HAS FORMED A STANDING AUDIT COMMITTEE THAT OVERSEES THE CONFLICT OF INTEREST POLICY. EACH BOARD MEMBER IS REMINDED ANNUALLY AT THE FALL BOARD MEETING THAT HE OR SHE IS TO DISCLOSE ANY INTERESTS THAT COULD GIVE RISE TO A CONFLICT. THE ORGANIZATION'S CFO WILL DISCLOSE TO THE AUDIT COMMITTEE ANY INDIVIDUAL BOARD MEMBERS WHO DO BUSINESS WITH THE INSTITUTION. FORM 990, PART VI, SECTION B, LINE 15 ALL KEY EMPLOYEES' SALARIES ARE COMPARED WITH DATA FROM SIMILAR PRIVATE COLLEGES BEFORE THE POSITION IS AUTHORIZED. LOUISBURG COLLEGE USES DATA PROVIDED BY THE NORTH CAROLINA INDEPENDENT COLLEGES AND UNIVERSITIES ORGANIZATION WHICH PROVIDES COMPARARIVE DATA BASED ON THE SIZE AND ENROLLMENT OF THE COLLEGE. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANICAL STATEMENTS AVAILABLE TO THE PUBLIC IF REQUESTED. REQUESTERS MUST PRESENT THEMSELVES AT THE COLLEGE, STATE THE REASON FOR THE REQUEST, AND PAY FOR PHOTOCOPIES OF THE DOCUMENTS. THE DOCUMENTS ARE AVAILABLE FOR THE PERIOD SET FORTH IN IRC SECTION 6104(D). FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTEREST 9,865. PART IV, LINE 12 AND PART XII, LINE 2B: DUE TO TIME RESTRICTIONS RELATED TO THE COVID-19 GLOBAL PANDEMIC, THE ORGANIZATION HAS NOT UNDERGONE AN INDEPENDENT FINANCIAL STATEMENT AUDIT FOR THE FISCAL YEAR ENDED MAY 31, 2020. SUCH AUDIT WILL TAKE PLACE SUBSEQUENT TO THE FILING OF FORM 990. FORM 990 PART XII LINE 2C THE AUDIT COMMITTEE ASSUMES REPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE COLLEGE'S FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR. PART XII, LINE 3B: DUE TO TIME RESTRICTIONS RELATED TO THE COVID-19 GLOBAL PANDEMIC, THE ORGANIZATION HAS NOT UNDERGONE AN INDEPENDENT SINGLE AUDIT FOR THE FISCAL YEAR ENDED MAY 31, 2020. SUCH AUDIT WILL TAKE PLACE SUBSEQUENT TO THE FILING OF FORM 990. KENAN HALL SARE LLC 501 NORTH MAIN ST LOUISBURG NC 27549 462059052 OWN, ENCUMBER, AND SELL THE KENAN HALL DORMITORY NC 149133 5661550 LOUISBURG COLLEGE LOUISBURG COLLEGE FOUNDATION 501 NORTH MAIN ST LOUISBURG NC 27549 812734620 SUPPORTING ORGANIZATION NC 501(C)(3) LINE 12A, I LOUISBURG COLLEGE 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0