2019-03-26T12:22:07-05:00 2018-05-31 420714325 RSM US LLP 230 N ELM ST STE 1100 GREENSBORO NC 27401 990 2017-06-01 560556753 LENOIR-RHYNE UNIVERSITY LENO 8283287100 PO BOX 7164 HICKORY NC 28603 FREDERICK K WHITT PRESIDENT 8283287100 2019-03-26 1 YONG ZHANG P01249785 3362724551 108.171.131.177 2019-03-26 12:21:54 CD P 75C36B17B212965765F9B2A53872F996115D7FF8 75C36B17B212965765F9B2A53872F996115D7FF8 2017 2019-02-21 02:37:17Z FREDERICK K WHITT PO BOX 7164 HICKORY NC 28603 99027911 0 X WWW.LR.EDU X 1905 NC LENOIR-RHYNE UNIVERSITY PROVIDES PROGRAMS OF UNDERGRADUATE, GRADUATE, AND CONTINUING STUDY COMMITTED TO THE LIBERAL ARTS AND SCIENCES. THE UNIVERSITY AWARDS BACHELORS AND MASTER DEGREES. 31 30 1311 150 -24507 -23384 9595128 9590606 69536226 72823980 4595186 4970341 763139 797486 84489679 88182413 30789221 32315152 0 0 26005517 27716973 67096 2939 1749183 24747118 24100772 81608952 84135836 2880727 4046577 203913956 215447826 48266049 51590022 155647907 163857804 X LENOIR-RHYNE UNIVERSITY PROVIDES PROGRAMS OF UNDERGRADUATE, GRADUATE, AND CONTINUING STUDY COMMITTED TO THE LIBERAL ARTS AND SCIENCES. THE UNIVERSITY AWARDS BACHELORS AND MASTER DEGREES. 0 0 48464041 31136526 57165791 PROVIDE EDUCATIONAL PROGRAMS AND CONFER UNDERGRADUATE DEGREES IN APPROXIMATELY SIXTY ACADEMIC PROGRAMS OF STUDY. THE UNVERSITY OFFERS 57 DIFFERENT PROGRAMS OF STUDY FOR UNDERGRADUATES AND 24 DIFFERENT PROGRAMS FOR GRADUATE DEGREES. 6883725 10771842 PROVIDE STUDENT LIFE PROGRAMS TO RESIDENTIAL AND COMMUTER STUDENTS AS PART OF THEIR ACADEMIC EXPERIENCES AT THE UNIVERSITY. 1955277 1045930 4886347 PROVIDE EDUCATIONAL PROGRAMS AND CONFER MASTERS LEVEL GRADUATE DEGREES IN COUNSELING, ATHLETIC TRAINING, BUSINESS, AND OCCUPATIONAL THERAPY. 132696 132696 GRANT TO RELATED ORG TO COVER CERTAIN SHARED ADMINISTRATIVE COSTS. 132696 132696 57435739 1 1 0 0 0 0 0 0 1 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 271 0 1 1311 1 1 1 0 0 0 0 0 0 0 0 0 X 31 30 1 1 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC SC X FRED K WHITT 8283287334 643 8TH AVENUE NE HICKORY NC 28601 X ALAN P DAVIS TRUSTEE 1.00 X 0 0 0 BISHOP TIMOTHY M SMITH TRUSTEE 1.00 X 0 0 0 BOYD C WILSON JR TRUSTEE 1.00 X 0 0 0 BOYD L GEORGE TRUSTEE 1.00 1.00 X 0 0 0 C CLIFF RITCHIE TRUSTEE 1.00 X 0 0 0 CHARLES M SNIPES TRUSTEE 1.00 1.00 X 0 0 0 DEWYONE PEDIE KING TRUSTEE 1.00 X 0 0 0 GABRIELLE M KELLY TRUSTEE 1.00 X 0 0 0 GEORGE A MORETZ TRUSTEE 1.00 X 0 0 0 JADE COBB MURRAY TRUSTEE 1.00 X 0 0 0 JANE C HANDLY TRUSTEE 1.00 X 0 0 0 JEROME W BOLICK TRUSTEE 1.00 X 0 0 0 JOSEPH P MCGUIRE TRUSTEE 1.00 X 0 0 0 KATERHINE ESCH TRUSTEE 1.00 X 0 0 0 KATHERINE F MCKENZIE TRUSTEE 1.00 X 0 0 0 KI-HYUN KENNY CHUN TRUSTEE 1.00 X 0 0 0 MADELINE S DASSOW TRUSTEE 1.00 X 0 0 0 MARGARET H JACKSON TRUSTEE 1.00 X 0 0 0 MARVIN S EDDIE EDWARDS TRUSTEE 1.00 1.00 X 0 0 0 PASTOR MARK A BERNTHAL TRUSTEE 1.00 X 0 0 0 PASTOR MARY HINKLE SHORE TRUSTEE 1.00 X 0 0 0 PASTOR RACHEL L CONNELLY TRUSTEE 1.00 X 0 0 0 PASTOR RHODES WOOLLY TRUSTEE 1.00 X 0 0 0 PASTOR SCOTT HOMESLEY TRUSTEE 1.00 X 0 0 0 PASTOR STEVE PLONK TRUSTEE 1.00 X 0 0 0 PASTOR WILLIAM B TREXLER TRUSTEE 1.00 X 0 0 0 STEVE M THOMAS TRUSTEE 1.00 X 0 0 0 STEVE O HUNT TRUSTEE 1.00 X 0 0 0 SYBIL B STEWART TRUSTEE 1.00 X 0 0 0 TONY W WOLFE TRUSTEE 1.00 X 0 0 0 FREDERICK K WHITT PRESIDENT 40.00 1.00 X X 334954 0 43357 LARRY HALL PROVOST 40.00 X 170679 0 25569 PETER KENDALL VP FINANCE 40.00 1.00 X 168011 0 25222 RACHEL NICHOLS VP ENROLLMENT 40.00 1.00 X 130927 0 33497 CATHERINE NIEKRO VP ADVANCEMENT 40.00 X 66750 0 8503 KATHRYN FISHER DEAN OF STUDENTS 40.00 X 102809 0 6448 KIMBERLY PATE DIRECTOR ATHLETICS 40.00 1.00 X 110254 0 30260 WAYNE POWELL FORMER PRESIDENT 40.00 1.00 X 374161 0 4123 1458545 0 176979 17 1 1 0 ARAMARK CAMPUS SERVICES LR BOX 7476 HICKORY NC 28603 FOOD SERVICES 1459614 ARAMARK FACILITIES SERVICES 1255 CRESCENT GREEN DRIVE STE 210 CARY NC 27518 MAINTENANCE & HOUSEKEEPING 1266379 HICKORY CONSTRUCTION COMPANY PO BOX 1769 HICKORY NC 28603 CONSTRUCTION NEEDS 1108904 ELLUCIAN COMPANY LP 4 COUNTRY VIEW ROAD MALVERN PA 19355 INFORMATION TECH CONSULTING 887055 MB HAYNES CORPORATION 187 DEAVERVIEW ROAD ASHEVILLE NC 28816 CONSTRUCTION NEEDS 361410 16 199710 795621 8595275 427317 9590606 TUITION AND FEES 611710 62307705 62307705 AUXILIARY SERVICES 611710 10516275 10516275 72823980 4553674 -39847 4593521 129896 53456 76440 76440 76440 11208709 10792042 416667 416667 15340 401327 MISCELLANEOUS 611710 721046 721046 721046 88182413 72823980 -24507 5792334 132696 132696 32182456 32182456 1653217 810407 786931 55879 20080925 9843670 9558520 678735 1200588 588528 571480 40580 3254180 1595199 1548990 109991 1528063 749056 727358 51649 5710266 2799172 2718087 193007 136583 66953 65013 4617 149606 73337 71212 5057 2939 2939 358850 358850 1948536 955172 927503 65861 352273 172684 167682 11907 734120 359866 349441 24813 2041229 1000610 971625 68994 1151 564 548 39 35953 17624 17114 1215 1294830 634726 616339 43765 736699 361130 350669 24900 4056669 1988579 1930975 137115 596330 292321 283853 20156 UTILITIES 2151342 1054588 1024039 72715 REPAIRS/SERVICE AGREEME 1671208 819226 795495 56487 BAD DEBTS 784333 384480 373343 26510 MEMBERSHIPS & DUES 234311 114859 111532 7920 1106483 437836 624315 44332 84135836 57435739 24950914 1749183 4485 4485 13803685 8244539 776885 620400 2007323 2757310 971266 748466 7987 10683 915818 782285 151742872 58207300 85227144 93535572 60603724 63158269 33789575 39272510 5806064 6313307 203913956 215447826 7312734 4543699 1781776 1731493 24859523 27584524 183965 168408 11300696 15482562 2827355 2079336 48266049 51590022 X 29559143 45853981 40307416 29764622 85781348 88239201 155647907 163857804 203913956 215447826 X 4046577 2963084 1200236 X X 0 1 X 1 1 1 X 0 183965 15557 168408 1 X 102668101 4196465 7425481 2481700 1780473 452703 109575171 94160563 3873039 9211047 2390140 1714679 471729 102668101 93872422 7694705 -2996639 2224278 1687563 498084 94160563 96337197 1414979 1752092 3708829 1460644 462373 93872422 87799864 4447337 9213398 3441929 1256552 424921 96337197 0.04450 0.75600 0.19950 0 0 374220 2833605 3207825 128035971 52645579 75390392 14834366 1647035 13187331 5664710 3914686 1750024 93535572 EQUITY FUNDS 6142899 F HEDGE FUNDS 14502579 F LIMITED PARTNERSHIPS 14333426 F ANNUITY CONTRACTS 2157307 F BOND FUNDS 2136299 F 39272510 GOVERNMENT ADVANCES FOR STUDENT LOANS 1196483 INTEREST RATE SWAP 55755 ASSET RETIREMENT OBLIGATIONS 827098 2079336 X 60053694 2963084 18951 -30982219 -28000184 88053878 181991 -53456 128535 88182413 51843797 18951 53456 72407 51771390 181991 32182455 32364446 84135836 PART IV, LINE 2B: LENOIR-RHYNE UNIVERSITY SERVES AS CUSTODIAN FOR FUNDS BELONGING TO VARIOUS STUDENT ORGANIZATIONS. GROUPS ARE ABLE TO ACCESS THE FUNDS ON REQUEST WITH APPROVAL OF ADVISOR. PART V, LINE 4: PROVIDE SCHOLARSHIPS, PROFESSORSHIPS, AND PROGRAM SUPPORT AS DESIGNATED BY DONORS. PART X, LINE 2: THE UNIVERSITY IS A TAX EXEMPT ENTITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FASB ASC. THE UNIVERSITY FILES A FORM 990-T IN ACCORDANCE WITH APPLICABLE U.S. FEDERAL REGULATIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS EXPENSE -32,182,456. GAIN ON INTEREST RATE SWAP 730,339. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 469,898. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -53,456. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 53,456. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS EXPENSE 32,182,455. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE ORGANIZATION HAS NO ADVERTISING DIRECTLY TO STUDENTS. THE ORGANIZATION DISPLAYS THIS POLICY IN ITS CATALOGUE AND ON REGISTRATION MATERIALS. SCHEDULE E, PART I, LINE 6 LENOIR-RHYNE UNIVERSITY STUDENTS RECEIVE A VARIETY OF FEDERAL AND STATE GRANTS AND LOANS, INCLUDING BUT NOT LIMITED TO, DIRECT LOANS, PELL GRANTS, AND NORTH CAROLINA NEED-BASED SCHOLARSHIP PROGRAM. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 18343723 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 153655 0 0 0 0 0 0 18497378 0 18497378 1 0 1 1 1 0 PART I, LINE 3: THE ORGANIZATION USES GAAP TO REPORT FOREIGN INVESTMENTS. 1 PIEDMONT EDUCATIONAL FOUNDATION PO BOX 7164 HICKORY NC 28603 566061289 501(C)(3) 48146 84550 FAIR MARKET VALUE TICKETS TO SPORTING EVENTS GENERAL SUPPORT 1 0 SCHOLARSHIPS AND FELLOWSHIPS TO UNDERGRADUATE STUDENTS 1509 31136526 0 SCHOLARSHIPS AND FELLOWSHIPS TO GRADUATE STUDENTS 178 1045930 0 PART I, LINE 2: GRANTS ARE AWARDED TO STUDENTS BASED UPON THE CRITERIA ESTABLISHED WITH EACH GRANT. FINANCIAL AID PERSONNEL MONITOR EACH GRANT ALONG WITH THE TOTAL AID RECEIVED BY EACH STUDENT TO ENSURE THAT INDIVIDUALS AS WELL AS COLLECTIVE AWARDS ARE WITHIN THE GUIDELINES ESTABLISHED BY STATE AND FEDERAL GOVERNMENTAL AGENCIES. X X X 1 0 0 0 0 0 0 0 0 FREDERICK K WHITT PRESIDENT 333502 0 0 0 1452 0 34200 0 9157 0 378311 0 0 0 LARRY HALL PROVOST 169647 0 0 0 1032 0 10550 0 15019 0 196248 0 0 0 PETER KENDALL VP FINANCE 166979 0 0 0 1032 0 10380 0 14842 0 193233 0 0 0 RACHEL NICHOLS VP ENROLLMENT 130375 0 0 0 552 0 8393 0 25104 0 164424 0 0 0 WAYNE POWELL FORMER PRESIDENT 24000 0 0 0 350161 0 1827 0 2296 0 378284 0 0 0 PART I, LINE 4A ONE EMPLOYEE WHO RECEIVED A SEVERANCE PAYMENT FROM THE ORGANIZATION, PROPERLY REPORTED HIS RESPECTIVE COMPENSATION, ON FORM 990, PART VII AND SCHEDULE J, PART II. THE TERMS AND CONDITIONS OF THE AGREEMENT ARE CONFIDENTIAL AND CAN BE MADE AVAILABLE TO THE IRS UPON REQUEST. ALL AMOUNTS PAID DURING THE PERIOD COVERED BY THIS RETURN, ARE APPROPRIATELY INCLUDED IN FORM 990, PART VII, AND IN SCHEDULE J, PART II AS A PART OF REPORTABLE COMPENSATION REPORTED ON HIS RESPECTIVE FORM W-2. A LENOIR-RHYNE UNIVERSITY 560556753 NONEAVAIL 2014-10-01 13592000 REFUND PREVIOUS BOND ISSUE 0 0 0 B NORTH CAROLINA CAPITAL FACILITIES FINANCE AGENCY 562592154 NONEAVAIL 2015-12-17 17000000 TO FINANCE BUILDINGS AND STRUCTURES 0 0 0 A 2511000 13592000 183622 13408378 2014 1 0 1 1 B 17000000 1817191 198354 14974659 173000 2015 1 0 1 1 A 0 0 0 0 1 0 0 B 0 0 0 0 1 0 0 A 1 1 1 SUN TRUST 10.000000000000 0 0 0 0 0 B 1 1 1 SUN TRUST 10.000000000000 0 0 0 0 0 A 1 B 1 X 18 165144 FAIR MARKET VALUE X 1 173 OWNER'S ESTIMATE X FURNITURE & EQUIPMENT 1 250000 OWNER'S ESTIMATE X MUSICAL INSTRUMENTS 1 12000 OWNER'S ESTIMATE 0 0 0 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS LISTED INDICATES THE NUMBER OF DONORS. PART I, LINE 33: MANAGMENT RETAINS RECORDS OF EACH DONATION, INCLUDING THE DONOR NAME AND DESCRIPTION OF DONATION; HOWEVER, IT IS THE POLICY OF THE UNIVERSITY TO REFRAIN FROM RECORDING CONTRIBUTION REVENUE FOR MINIMAL DONATIONS. FORM 990, PART VI, SECTION A, LINE 2 HICKORY IS A RELATIVELY SMALL TOWN, AND MANY MEMBERS ON THE BOARD (OR A FAMILY MEMBER) OPERATE A BUSINESS IN TOWN THAT OTHERS MAY PATRONIZE IN THE NORMAL COURSE OF BUSINESS. BOARD OF TRUSTEE MEMBER BOYD L. GEORGE IS COB/CEO OF ALEX LEE INC., WHICH OWNS LOWES FOODS. LRU HAS USED LOWES FOODS FOR FOOD-RELATED SUPPLIES. FORM 990, PART VI, SECTION A, LINE 3 THE UNIVERSITY HAS FOUR SIGNIFICANT MANAGEMENT CONTRACTS WITH OUTSIDE SERVICE PROVIDERS. THESE INCLUDE MANAGEMENT (ARAMARK), DINING SERVICES (ARAMARK), BOOKSTORE OPERATIONS (VALIDIS), AND IT OPERATIONS (SUNGUARD HIGHER EDUCATION). IN ALL OF THESE INSTANCES THE UNIVERSITY HAS A DETAILED CONTRACT WITH THE VENDOR THAT CLEARLY DELINEATES THE AUTHORITY THESE ORGANIZATIONS AND THEIR EMPLOYEES HAVE TO PROVIDE MANAGEMENT AND OTHER SERVICES. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE BOARD OF TRUSTEES ARE ELECTED BY THE ORGANIZATION'S GOVERNING BODY WITH THE EXCEPTION OF THE BISHOP OF THE NC SYNOD. THE BISHOP OF THE NC SYNOD IS ELECTED BY THE DELEGATES TO THE SYNOD CONVENTION AND HE/SHE HOLDS AN EX-OFFICIO VOTING POSITION ON THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE BUSINESS OFFICE STAFF. THEN IT IS REVIEWED BY THE AUDIT COMMITTEE. THE 990 IS THEN PROVIDED DIGITALLY TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C THE CHAIR OF THE BOARD OF TRUSTEES AND THE PRESIDENT OF THE UNIVERSITY REQUEST THAT ALL TRUSTEES, OFFICERS, SENIOR MANAGERS AND DEPARTMENT MANAGERS REVIEW THE CONFLICT OF INTEREST POLICY AND COMPLETE THE DISCLOSURE FORM ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD CONDUCTS AN ANNUAL PERFORMANCE APPRAISAL OF THE PRESIDENT. THIS COMMITTEE THEN APPROVES CHANGES IN COMPENSATION AND/OR THE EMPLOYMENT CONTRACT OF THE PRESIDENT BASED ON A REVIEW OF HISTORICAL COMPENSATION DATA COMPILED REGARDING THE COMPENSATION OF THE PRESIDENTS OF SIMILAR ORGANIZATIONS IN NORTH CAROLINA AND THROUGHOUT THE UNITED STATES. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART VII, SECTION A, COLUMN F THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN COLUMN F, PART VII AND IS NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. FORM 990, PART XI, LINE 9: GAIN ON INTEREST RATE SWAP 730,339. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 469,897. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE'S PROCESS OF OVERSIGHT AND SELECTION HAS NOT CHANGED SINCE PRIOR YEAR. REESE HOLDINGS LLC PO BOX 7164 HICKORY NC 28603 560556753 HOLDING OF CONTRIBUTED REAL ESTATE NC 0 663000 LENOIR RHYNE UNIVERSITY INC PIEDMONT EDUCATIONAL FOUNDATION PO BOX 7280 HICKORY NC 28603 566061289 PROVIDE ATHLETIC SCHOLARSHIPS FOR LENOIR RHYNE UNIVERSITY NC 501(C)(3) LINE 12B, II N/A 0 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1