2021-05-11T12:50:20-05:00 2020-06-30 BDO USA LLP 1100 Peachtree Street Suite 700 ATLANTA GA 303094516 990 2019-07-01 540534105 Sweet Briar Institute % LUTHER T GRIFFITH SWEE 4343816325 PO Box 1051 Sweet Briar VA 245951051 LUTHER T GRIFFITH VP for FINANCE/Opera 4343816325 2021-05-11 true Sandra L Feinsmith P01064157 4046886841 2021-05-10 2019 2022-09-23 18:48:47Z Meredith Woo PO Box 1051 Sweet Briar VA 245951051 45932116 false X www.sbc.edu X 1901 VA see schedule o 21 20 511 1000 341204 0 8746439 18526668 11739540 12410878 2170737 2137835 3131762 3769201 25788478 36844582 3968690 4335144 0 0 14549508 13413123 0 0 3096305 13398758 14518830 31916956 32267097 -6128478 4577485 136197546 138606223 15630985 18352796 120566561 120253427 X SEE SCHEDULE O false false 13832381 7468309 INSTRUCTION: TO PROVIDE A LIBERAL ARTS EDUCATION FOR ALL STUDENTS. BENEFITS APPROXIMATELY 340 STUDENTS. 4022047 4035422 AUXILIARY ENTERPRISES: TO PROVIDE STUDENTS WITH HOUSING, FOOD SERVICES, RECREATION AND INSTRUCTIONAL MATERIALS. BENEFITS APPROXIMATELY 340 STUDENTS. 4335144 4335144 4335144 SCHOLARSHIPS: To provide scholarships to students with both financial need as well as academic excellence. Benefits approximately 340 students. 22189572 true true false false false false false true false true true false false true true true false true true true true false true false false false false false true true true false false false false false false false false false false true false false false false true false false false true 134 0 true 511 true true true true FR false false false false false false false false false false X 21 20 false false false false false false false true true false false true true true true true true true true false VA X LUTHER T GRIFFITH 4343816325 PO BOX 1051 SWEET BRIAR VA 245951051 X DR MEREDITH WOO President 40.0 2.0 X X 373644 0 7044 MARY POPE HUTSON VP Alumnae Relations & Develop 40.0 0.0 X 197899 0 6276 LORI HUSEIN VP Finance & Administration 40.0 0.0 X 186324 0 8525 Laurel Harvey Director of Strategic Initiati 40.0 0.0 X 132101 0 14472 MELISSA RICHARDS VP Enrollment 40.0 0.0 X 119474 0 13640 John Brown Prof. of English/creative writ 40.0 0.0 X 100668 0 17760 Henry Yochum Director of engineering/Prof. 40.0 0.0 X 107347 0 10932 Jodi Canfield Director of Athletics 40.0 0.0 X 107900 0 7044 ANDREW BENJAMIN Director 4.0 0.0 X 0 0 0 DR MARIANNE FAHS Director 4.0 0.0 X 0 0 0 KELLEY FITZPATRICK Director 4.0 0.0 X 0 0 0 CAROL FOWLER Director 4.0 0.0 X 0 0 0 SALLY FREEMAN Director 4.0 0.0 X 0 0 0 Robert Goodlatte Director 4.0 0.0 X 0 0 0 LENDON GRAY Director 4.0 0.0 X 0 0 0 FRED GRIFFIN Director 4.0 0.0 X 0 0 0 Martha Holland Director 4.0 0.0 X 0 0 0 Karen Jackson Director 4.0 0.0 X 0 0 0 REVEREND KEENAN KELSEY Director 4.0 0.0 X 0 0 0 Gillian Munson Director 4.0 0.0 X 0 0 0 Richard Myers Director 4.0 0.0 X 0 0 0 Michelle O'Neill Director 4.0 0.0 X 0 0 0 Charlotte Philbin Director 4.0 0.0 X 0 0 0 MASON RUMMEL Director 4.0 0.0 X 0 0 0 STEPHEN SMILEY Director 4.0 0.0 X 0 0 0 GEORGENE VAIRO Director 4.0 0.0 X 0 0 0 CLAUDE WASSERSTEIN Director 4.0 0.0 X 0 0 0 DR MARSHALYN YEARGIN-ALLSOPP Director 4.0 0.0 X 0 0 0 1325357 0 85693 9 false true false Meriwether-Godsey 4944 Old Boonsboro Road LYNCHBURG VA 24503 FOOD SERVICES 1667880 clearspan 703 hebron ave floor 3 GLASTONBURY CT 06033 construction 710775 campbell insurance po box 677 LYNCHBURG VA 24505 insurance 280526 lipman hearne inc 200 S michigan ave 16th floor CHICAGO IL 60604 campaign ads 258902 Capture LLC 2303 River Road LOUISVILLE KY 40206 marketing 237013 19 596193 17930475 1886419 18526668 TUITION AND FEES 611710 8375456 8375456 STUDENT SERVICES 611710 3965189 3965189 SALES & SERVICES 611710 70233 70233 12410878 262747 262747 0 0 0 0 0 10962622 9087534 1875088 1875088 1875088 0 0 0 0 0 0 0 0 0 FLORENCE ELSTON INN 721110 285281 285281 ADDITIONAL AUXILIARY 611710 410949 410949 CELL TOWER 517000 55923 55923 3017048 3017048 3769201 36844582 15838875 341204 2137835 0 4069976 4069976 265168 265168 0 757867 522928 162754 72185 0 10204528 6572837 2515859 1115832 188529 116029 50224 22276 2262199 1392256 602654 267289 0 3888364 2280058 1114156 494150 58341 40255 12529 5557 116393 80315 24993 11085 0 0 5761 3975 1237 549 0 530014 236246 203508 90260 1524482 1020297 349275 154910 523383 282482 166884 74017 0 886092 463013 293089 129990 830131 580781 172738 76612 0 0 790275 3014 545376 241885 0 2377124 2224777 105539 46808 0 SCHOLARSHIPS/OTHER 1905457 1208501 482817 214139 SUPPLIES & PRINT 424452 310662 78828 34962 NON-CAPITAL EQUIPMENT/REPAIRS 336643 195176 98001 43466 LIBRARY 167814 166722 759 333 154104 154104 32267097 22189572 6981220 3096305 X 0 0 7886022 11357554 6826369 12643758 91628 738833 0 0 0 0 1689450 1371614 0 0 0 0 105102011 51030348 52866754 54071663 51620213 43786577 5403315 5463090 0 0 0 0 9813795 9173134 136197546 138606223 1558289 2532935 0 0 0 0 12901703 12097558 0 0 0 0 0 0 0 2451800 1170993 1270503 15630985 18352796 X 39330202 36311659 81236359 83941768 120566561 120253427 136197546 138606223 X 4577485 -4890619 X false true X true true true X 14359699 18409443 14304028 8746439 18526668 74346277 0 0 14359699 18409443 14304028 8746439 18526668 74346277 3113341 71232936 430526 555747 713786 1977863 262747 3940669 0 425715 2622320 2889146 2616622 3427997 11981800 90268746 71114874 0.78912 0.76194 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X false 70456541 2825316 -3741031 2579129 2994055 63967642 74817347 865048 2996751 8222605 70456541 76875075 1723423 4916885 4930903 0 3767133 74817347 70503393 992110 8379572 0 0 3000000 76875075 71907115 1088672 -1803891 0 592420 96083 70503393 0.10000 0.70000 0.20000 false false 3029041 3029041 84913455 45230590 39682865 17159515 5799758 11359757 54071663 BENEFICIAL INT PERPETUAL TRUST 7387587 CONTRIBUTIONS RECEIVABLE 1466979 OTHER RECEIVABLE 318568 9173134 0 US GOV'T ADVANCES FOR STUDENT 816187 ANNUITIES PAYABLE 273485 CAPITAL LEASE OBLIGATIONS 119198 ASSET RETIREMENT OBLIGATION 61633 1270503 X PART III, LINE 1A: THE INSTITUTE OWNS A COLLECTION OF VARIOUS OBJECTS OF ART. THESE ITEMS ARE HELD FOR PUBLIC EXHIBITION RATHER THAN FOR FINANCIAL GAIN AND ARE KEPT PROTECTED AND PRESERVED. IT IS THE INSTITUTE'S POLICY TO USE ANY PROCEEDS FROM THE SALE OF COLLECTION ITEMS TO ACQUIRE OTHER ITEMS FOR THE COLLECTION. ACCORDINGLY, THE INSTITUTE DOES NOT RECOGNIZE CONTRIBUTIONS OF WORKS OF ART, NOR ARE WORKS OF ART CAPITALIZED AND RECORDED ON THE STATEMENT OF FINANCIAL POSITION. PART III, LINE 4: THE ART COLLECTIONS AND ANTIQUITIES SUPPORT THE EDUCATIONAL PURPOSE OF THE INSTITUTE. STUDENTS MAJORING IN ART HISTORY AND ARTS MANAGEMENT ACT AS CURATORS AND MAINTAIN THE COLLECTIONS. STUDENTS ARE INVOLVED IN COLLEGE AND COMMUNITY EXHIBITIONS. PART V, LINE 4: THE MAJORITY OF ENDOWMENT FUNDS ARE USED TO PROVIDE STUDENT SCHOLARSHIPS AND SUPPORT FOR INSTRUCTION, RESEARCH, AND ACADEMIC PROGRAMS. PART X, LINE 2: THE INSTITUTE IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE. HOWEVER, CERTAIN INCOME UNRELATED TO ITS EXEMPT FUNCTION IS SUBJECT TO INCOME TAXATION. THE INTERNAL REVENUE SERVICE ("IRS") HAS HELD THAT A VIRGINIA LIMITED LIABILITY COMPANY, TREATED AS A PARTNERSHIP FOR STATE INCOME TAX PURPOSES, WOULD ALSO BE TREATED AS A PARTNERSHIP FOR FEDERAL INCOME TAX PURPOSES. THEREFORE, INCOME TAXES ARE NOT INCURRED WITH RESPECT TO THE OPERATIONS OF SBC RESTORATION LESSEE LLC SINCE EACH MEMBER IS RESPONSIBLE FOR THE INCOME TAX CONSEQUENCES ASSOCIATED WITH ITS PROPORTIONATE SHARE OF SUCH OPERATIONS. MANAGEMENT HAS EVALUATED THE EFFECT OF THE GUIDANCE PROVIDED FOR UNCERTAINTY IN INCOME TAXES THAT BECAME EFFECTIVE FOR THE INSTITUTE ON JULY 1, 2009. MANAGEMENT BELIEVES THAT THE INSTITUTE CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION AT JUNE 30, 2020 AND 2019. MANAGEMENT HAS EVALUATED ALL TAX POSITIONS THAT COULD HAVE A SIGNIFICANT EFFECT ON THE CONSOLIDATED FINANCIAL STATEMENTS AND DETERMINED THE INSTITUTE HAD NO UNCERTAIN INCOME TAX POSITIONS AT JUNE 30, 2020 and 2019. true true true true true true true false false false false false false false false true false true Line 3 - EXPLANATION OF NONDISCRIMINATION POLICY: SWEET BRIAR COLLEGE CUSTOMARILY DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS FROM LARGE GEOGRAPHICAL SECTIONS OF THE UNITED STATES AND FOREIGN COUNTRIES. THE COLLEGE FOLLOWS A RACIAL NONDISCRIMINATORY POLICY AND HAS COMPLIED WITH SECTION 4.02 OF THE INTERNAL REVENUE PROCEDURE 75-50. THE COLLEGE PUBLICIZES ITS NONDISCRIMINATORY POLICY IN ITS CATALOG. LINE 6 - EXPLANATION OF GOVERNMENT FINANCIAL AID: SWEET BRIAR COLLEGE PARTICIPATES IN A VARIETY OF FEDERAL FINANCIAL AID PROGRAMS INCLUDING THE FEDERAL WORK STUDY PROGRAM, SEOG, AND THE PELL GRANT PROGRAM. THE COLLEGE ALSO RECEIVES FEDERAL GRANTS AND CONTRACTS FOR ACADEMIC PROGRAMMING AND SCIENTIFIC RESEARCH. true Europe (Including Iceland and Greenland) 1 1 Program Services EDUCATIONAL PROGRAM 740150 Europe (Including Iceland and Greenland) 0 0 Program Services TUITION ASSISTANCE 34620 Middle East and North Africa 0 0 Program Services TUITION ASSISTANCE 46010 South Asia 0 0 Program Services TUITION ASSISTANCE 69920 East Asia and the Pacific 0 0 Program Services TUITION ASSISTANCE 63870 Sub-Saharan Africa 0 0 Program Services TUITION ASSISTANCE 50748 1 1 1 1 1005318 1005318 SCHOLARSHIPS TO FOREIGN STUDENTS Europe (Including Iceland and Greenland) 1 34620 PMT APPLIED SCHOLARSHIPS TO FOREIGN STUDENTS Middle East and North Africa 2 46010 PMT APPLIED SCHOLARSHIPS TO FOREIGN STUDENTS South Asia 3 69920 PMT APPLIED SCHOLARSHIPS TO FOREIGN STUDENTS East Asia and the Pacific 3 63870 PMT APPLIED SCHOLARSHIPS TO FOREIGN STUDENTS Sub-Saharan Africa 2 50748 PMT APPLIED false false false false false false SCHEDULE F, PART I, LINE 2 STUDENTS APPLY FOR SCHOLARSHIPS AND ARE AWARDED AMOUNTS THROUGH THE FINANCIAL AID PROCESS. THE FINANCIAL AID OFFICE DETERMINES THE AMOUNTS TO AWARD BASED ON CERTAIN CRITERIA AND AMOUNTS ARE DISBURSED AND POSTED TO STUDENT'S TUITION AND FEES ACCOUNT. SCHOLARSHIPS ARE CREDITED TO STUDENT TUITION ACOUNTS AT SWEET BRIAR COLLEGE. ANY STUDENT ACCOUNT THAT HAS A CREDIT BALANCE AFTER POSTING THE SCHOLARSHIP AMOUNTS WILL BE REFUNDED BY COLLEGE CHECK. true SCHOLARSHIPS FOR STUDENTS TO ATTEND SWEET BRIAR 343 4069976 SCHEDULE I, PART I, LINE 2 INSTITUTIONAL MERIT SCHOLARSHIPS ARE AWARDED ON THE BASIS OF DEMONSTRATED ACADEMIC EXCELLENCE AND PROMISE FOR FUTURE SUCCESS AT THE COLLEGE. WHILE A NUMBER OF FACTORS ARE CONSIDERED, THE COLLEGE RELIES HEAVILY ON THE EVALUATION OF HIGH SCHOOL COURSEWORK, HIGH SCHOOL GRADE POINT AVERAGES AND CLASS RANK, STANDARDIZED TEST SCORES, WRITTEN WORK AND LETTERS OF RECOMMENDATION. EXTRACURRICULAR INVOLVEMENT THAT DEMONSTRATES A PROMISE FOR SUCCESS AT THE COLLEGIATE LEVEL IS ALSO CONSIDERED. SCHOLARSHIP AWARDS ARE APPLIED TO THE STUDENT'S ACCOUNT FOR PAYMENT TOWARD TUITION, ROOM, BOARD AND FEES. X X true true X X X X X true false false false false false false false false DR MEREDITH WOO President 373644 0 0 0 0 0 0 0 7044 0 380688 0 0 0 MARY POPE HUTSON VP Alumnae Relations & Develop 197899 0 0 0 0 0 0 0 6276 0 204175 0 0 0 LORI HUSEIN VP Finance & Administration 178939 0 0 0 7385 0 0 0 8525 0 194849 0 0 0 PART 1, LINE 1A: RESIDENCE FOR PERSONAL USE: AS A CONDITION OF EMPLOYMENT, THE PRESIDENT AND VICE PRESIDENT FOR FINANCE AND ADMINISTRATION ARE REQUIRED TO LIVE IN THE SCHOOL'S HOUSES LOCATED ON THE CAMPUS. THESE RESIDENCES ARE PROVIDED FOR THE CONVENIENCE OF THE SCHOOL IN HAVING THE FUNCTIONS OF THE OFFICES EFFICIENTLY DISCHARGED. THIS HOUSING ALLOWANCE IS TREATED AS A NON-TAXABLE BENEFIT. PERSONAL SERVICES: THE SCHOOL PROVIDES PERSONAL SERVICES TO THE PRESIDENT FOR THE CONVENIENCE OF THE EMPLOYER SO THAT THE PRESIDENT CAN PERFORM ESSENTIAL SCHOOL BUSINESS AND ACTIVITIES AT THE HOME. THIS IS A TAXABLE BENEFIT. PART 1, LINE 4A: Lori Husein received a severance package in the amount of $63,403. A Industrial Development Authority - Town of Amherst 546001113 031489BX4 2006-02-23 21041170 Refunding of 1998A,1998B,1999-2002 false false false A 0 0 20865000 0 0 0 334871 0 0 0 0 0 2006 false true true true A false false false false 0 false false false true A false false true false false false 0 false 0 false false A false SCHEDULE K, PART II, LINE 3: THE TOTAL PROCEEDS OF ISSUE FOR THE 2006 BOND IS $176,170 LESS THAN THE ORIGINAL ISSUE PRICE DUE TO A REFUND OF THE BOND IN FISCAL YEAR 2012. X 51 1286395 AVG. TRADING VALUE X HORSES 6 553000 FMV X VARIOUS-OTHER 23 47024 FMV 4 false true false SCHEDULE M, LINE 33: THE INSTITUTE OWNS A COLLECTION OF VARIOUS OBJECTS OF ART. THESE ITEMS ARE HELD FOR PUBLIC EXHIBITION RATHER THAN FOR FINANCIAL GAIN AND ARE KEPT PROTECTED AND PRESERVED. IT IS THE INSTITUTE'S POLICY TO USE ANY PROCEEDS FROM THE SALE OF COLLECTION ITEMS TO ACQUIRE OTHER ITEMS FOR THE COLLECTION. ACCORDINGLY, THE INSTITUTE DOES NOT RECOGNIZE CONTRIBUTIONS OF WORKS OF ART, NOR ARE WORKS OF ART CAPITALIZED AND RECORDED ON THE STATEMENTS OF FINANCIAL POSITION. FORM 990, Part I, Line 1 and Part III, Line 1 : Description of Organization Mission: Sweet Briar college prepares women to be productive, responsible MEMBERS OF A WORLD COMMUNITY. IT FOCUSES ON PERSONAL AND PROFESSIONAL ACHIEVEMENT THROUGH A CUSTOMIZED EDUCATIONAL PROGRAM THAT COMBINES THE LIBERAL ARTS, PREPARATION FOR CAREERS AND INDIVIDUAL DEVELOPMENT. THE FACULTY AND STAFF GUIDE STUDENTS TO BECOME ACTIVE LEARNERS, TO REASON CLEARLY, TO SPEAK AND WRITE PERSUASIVELY AND TO LEAD WITH INTEGRITY. THEY DO SO BY CREATING AN EDUCATIONAL ENVIRONMENT THAT IS BOTH INTENSE AND SUPPORTIVE AND WHERE LEARNING OCCURS IN MANY DIFFERENT VENUES, INCLUDING THE CLASSROOM, THE COMMUNITY AND THE WORLD. FORM 990, PART VI, SECTION B, LINE 11: THE 990 FORM AND REQUIRED SCHEDULES WERE REVIEWED BY MANAGEMENT PRIOR to FILING. AN ELECTRONIC VERSION OF THE RETURN WAS MADE AVAILABLE TO THE OFFICERS AND DIRECTORS OF THE INSTITUTE PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C: OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE REQUIRED TO SUBMIT AN ANNUAL DISCLOSURE IN ACCORDANCE WITH THE SWEET BRIAR COLLEGE WRITTEN CONFLICT OF INTEREST POLICY. CONFLICT OF INTEREST FORMS ARE FILED WITH THE PRESIDENT'S OFFICE ANNUALLY AND ARE REVIEWED BY THE CFO AND INDEPENDENT AUDITORS. IN GENERAL, WHEN AN INDIVIDUAL COVERED BY THIS POLICY IS DEEMED TO BE IN A CONFLICT OF INTEREST SITUATION WITH RESPECT TO ANY MATTER BEFORE THE BOARD OR ADMINISTRATION, THAT INDIVIDUAL SHALL REFRAIN FROM PARTICIPATING IN THE CONSIDERATION OF ANY PROPOSED TRANSACTION WHICH MAY BE IMPAIRED BY THE POTENTIAL CONFLICT, UNLESS SPECIFICALLY REQUESTED TO PROVIDE INFORMATION REGARDING THE TRANSACTION IN QUESTION. SUCH PERSON SHALL NOT VOTE ON OR TAKE ANY POSITION FOR OR AGAINST THE PROPOSED TRANSACTION, NOR SHALL SHE OR HE ATTEMPT TO INFLUENCE THE VOTES OR POSITIONS OF OTHERS. WHEN DEEMED APPROPRIATE, A NOTE IN THE MINUTES OF THE MEETING SHALL SPECIFY THAT THE PERSON INVOLVED NEITHER PARTICIPATED IN CONSIDERATION OF THE PROPOSED TRANSACTION NOR VOTED ON THE MATTER. IN ALL INSTANCES WHERE A CONFLICT OF INTEREST IS DETERMINED TO EXIST, SUCH CONFLICTS, AND THEIR REMEDY, SHALL BE DISCLOSED TO THE BOARD AT LEAST ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15: COMPENSATION FOR THE PRESIDENT/CEO IS DETERMINED BY INFORMATION PROVIDED FROM INDEPENDENT COMPENSATION CONSULTANTS, IS APPROVED BY THE BOARD, AND DOCUMENTED IN A WRITTEN EMPLOYMENT CONTRACT. THE PAY FOR THE CURRENT PRESIDENT HAS NOT BEEN ADJUSTED SINCE HIRED IN 2017. IN DETERMINING NEWLY HIRED EXECUTIVES' PAY, DATA IS ACQUIRED FROM SEARCH CONSULTANTS, REGIONAL SALARY SURVEYS AND GENERAL PAY RANGES THAT ARE LINKED IN GENERAL TERMS TO VARIOUS CUPA SURVEYS. WRITTEN EMPLOYMENT CONTRACTS ARE ALSO PROVIDED TO CABINET LEVEL POSITIONS. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST ONLY. FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS: UNREALIZED ENDOWMENT LOSS (4,609,535) CHANGE IN SPLIT INTEREST AGREEMENTS (95,295) UNREALIZED LOSS ON PERPETUAL TRUSTS (185,789) TOTAL (4,890,619) SBC Foreign Programs Inc p o box 1051 sweet briar VA 24595 541733600 education VA 501 (c)(3) Type II SB institute false SBC RESTORATION LESSEE LLC PO BOX 1090 SWEET BRIAR VA 24595 465731000 Renovations VA sweet briar unrelated -16108 579659 false 0 0.99000 false false false false false false false false false false false false false true true false false true false