2018-04-11T14:32:59-07:00 2017-06-30 990 2016-07-01 540505922 LYNCHBURG COLLEGE LYNC 4345448428 1501 Lakeside Drive Lynchburg VA 24501 Steve Bright VP for Business & Finance 4345448428 2018-04-11 161.115.185.248 2016 2021-01-29 14:40:06Z Stephen E Bright 1501 Lakeside Drive Lynchburg VA 24501 132350488 0 X www.lynchburg.edu X 1903 VA Lynchburg College, a private coeducational institution founded in 1903 in covenant with the Christian Church (Disciples of Christ), offers distinctive undergraduate, graduate and doctoral programs that reflect its commitment to teaching and learning, scholarship, and service to the broader community. 33 32 1897 0 142802 0 5998137 4040617 93157182 94853450 4226381 6133218 -243211 591924 103138489 105619209 32988758 35238407 0 0 41526380 43620012 43961 24779 1830294 25477089 25751915 100036188 104635113 3102301 984096 195612498 200745985 47560790 44823259 148051708 155922726 The College offers distinctive undergraduate, graduate, and doctoral programs that reflect its commitment to teaching and learning, scholarship, and service to the broader community. The mission of the College is to develop students with strong character and balanced perspectives and to prepare them for engagement in a global society and for effective leadership in civic, professional, and spiritual dimensions of life. The College provides its students with a wide range of rigorous educational experiences delivered through multiple modes of instruction. 0 0 61177231 35238407 101429208 Includes student instruction and scholarships. For the Fall 2016, there were 2,079 undergraduates, 641 graduates for a total enrollment of 2,720 students. 12036095 0 0 Includes auxiliary enterprises (such as dining services, student housing, campus store, and other snack bar areas). 10008440 0 0 Includes other institutional services (such as information technology, interest expense, and other allocated expenses) that support student instruction. 9944297 0 Includes student services which consists of enrollment services, registrar, health and counseling services, student activities, sports, and recreation. 3985043 0 0 Includes academic support which consists of the College's library, art gallery, academic advising, career services, and other support services for the academic divisions. 13929340 0 0 97151106 1 1 0 1 0 0 1 1 0 1 1 1 0 0 1 0 1 0 1 1 1 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 1 0 0 0 1 X 3633 0 1 1897 1 1 1 1 ST 0 0 0 0 0 0 0 0 X 33 32 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 VA X Stephen Bright 4345448428 1501 Lakeside Drive Lynchburg VA 24501 X Hannah Besanceney Trustee 1 0 X 0 0 0 Melanie Biermann Trustee/Corporate Officer 1 0 X X 0 0 0 Christopher L Boyd Trustee 1 0 X 0 0 0 David C Boyle Trustee 1 0 X 0 0 0 Wendy Bradley Trustee 1 0 X 0 0 0 Howard M Butler Trustee 1 0 X 0 0 0 Carol Calandra Trustee 1 0 X 0 0 0 Charles P Collings Trustee/Corporate Officer 1 0 X X 0 0 0 Stephen L Crank Trustee 1 0 X 0 0 0 Warren Cross Jr Trustee 1 0 X 0 0 0 Beverly E Dalton Trustee 1 0 X 0 0 0 Richard O Danker Trustee 1 0 X 0 0 0 Mary Jane Dolan Trustee 1 0 X 0 0 0 Julie P Doyle Trustee 1 0 X 0 0 0 Rebecca DuFour Trustee 1 0 X 0 0 0 Darla D Edwards Trustee 1 0 X 0 0 0 Mary S Elcano Trustee 1 0 X 0 0 0 Pauline B Flint Trustee 1 0 X 0 0 0 Suzanne F Flynn Trustee 1 0 X 0 0 0 Michael A Gillette Trustee 1 0 X 0 0 0 Roger H Green Trustee 1 0 X 0 0 0 William K Grogan Trustee 1 0 X 0 0 0 Jay Hopkins Trustee 1 0 X 0 0 0 Terry H Jamerson Trustee 1 0 X 0 0 0 Jeffrey Kurzweil Trustee 1 0 X 0 0 0 Robert Lemon Jr Trustee 1 0 X 0 0 0 Nathaniel X Marshall Trustee/Corporate Officer 5 0 X X 0 0 0 Andrew J McKenna Trustee 1 0 X 0 0 0 A Patricia Merryman Trustee 1 0 X 0 0 0 Margaret A Miller Trustee 1 0 X 0 0 0 Kathryn M Pumphrey Trustee/Corporate Officer 1 0 X X 0 0 0 Andrew J Tatom III Trustee 1 0 X 0 0 0 Thomas A Walker Trustee 1 0 X 0 0 0 Tucker W Withers Trustee 1 0 X 0 0 0 Kenneth R Garren President of the College 60 0 X 389565 0 50153 John G Eccles VP and Dean for Student Development Retired 6/30/16 60 0 X 63626 0 8842 Rita A Detwiler VP for Enrollment Management 55 0 X 128541 0 25501 Denise A McDonald VP for Advancement thru 4/30/16 70 0 X 130279 0 25635 Stephen E Bright VP for Business and Finance and Treasurer 55 0 X 200388 0 27171 Sally C Selden Vice President and Dean for Academic Affairs 60 0 X 158464 0 14384 Michael Bonnette SR VP for Institutional Advancement Eff. 5/1/16 50 0 X 113329 0 18448 Hayward Guenard VP and Dean for Student Development Eff. 7/1/16 50 0 X 68862 0 13846 A Russell Smith Director/Professor Physical Therapy 55 0 X 147464 0 24430 David Murphy Professor 40 0 X 128004 0 22125 Jeremy Welsh Director/Professor of Physician Assistant Medicine 60 0 X 190775 0 16769 Howard Bush Professor 50 0 X 131855 0 16292 Kimberly McCabe Professor 50 0 X 131486 0 13762 1982638 0 277358 36 0 1 0 Spider Investments The Richmond Fund LLC 6802 Paragon Place Richmond VA 23230 Investment Management 314702 Holiday Tours 10367 Randleman Road Randleman NC 27317 Transportation Services 221428 McGuire Woods LLP 800 E Canal Street Richmond VA 23219 Legal Services 199400 CommonFund Box 5493 Boston MA 02206 Investment Management 169370 Zuckerman Spaeder LLP 1800 M Street NW Washington DC 20036 Legal Services 144943 8 0 0 16255 0 637399 3386963 0 4040617 Tuition and Fees 611310 76620736 76620736 0 0 Auxiliary Services 900099 15650118 15650118 0 0 Miscellaneous Income 900099 2439794 2439794 0 0 Auxiliary - Catering 900099 142802 0 142802 0 0 0 0 0 94853450 1079172 1079172 0 0 0 0 0 0 15063 15063 0 0 0 0 0 0 0 0 0 0 0 0 31735726 41342 26686391 36631 5049335 4711 5054046 5054046 0 0 14839 16255 8257 6582 0 6582 0 0 0 0 0 0 0 0 0 0 0 0 Change in Interest Rate Swap 900099 570279 570279 0 0 0 0 0 0 570279 105619209 101429208 142802 6582 0 0 34774343 34774343 464064 464064 0 0 1363383 401665 876967 84751 0 0 0 0 31922149 29243417 1668691 1010041 2357586 2148380 140015 69191 5586593 5214388 263726 108479 2390301 2121870 195527 72904 0 0 0 0 219648 0 219648 0 67094 0 67094 0 0 0 0 0 24779 24779 1139382 0 1139382 0 0 0 0 0 87032 28077 58955 0 1168759 966635 100973 101151 599111 532961 9710 56440 0 0 0 0 3018269 2945700 43993 28576 1243259 958207 124112 160940 0 0 0 0 0 0 0 0 1388248 1388248 0 0 0 0 0 0 4756850 4756850 0 0 33469 0 33469 0 Food Purchases 2267173 2267173 0 0 Indirect Cost Allocations/Auxilliaries/Other 3205680 3205680 0 0 Purchases - Campus Store 1029542 1029542 0 0 5528399 4703906 711451 113042 104635113 97151106 5653713 1830294 25600 25100 14131719 3080352 2846377 2469053 1863225 2172098 0 0 0 0 1492233 1309950 705316 686011 895600 919170 145206478 65474986 81127289 79731492 74126466 91798237 17955397 18539129 0 0 0 15393 443276 0 195612498 200745985 5979264 5806986 0 0 3628378 4096944 33789762 31263130 0 0 0 0 1459953 1519606 0 0 2703433 2136593 47560790 44823259 X 63360633 64891262 42446815 47661577 42244260 43369887 148051708 155922726 195612498 200745985 X 984096 6903830 0 0 0 -16908 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 0 0 1 3529 3529 0 Schedule C, Part II-B, Line 1 The College is a member of the Council of Independent Colleges in Virginia (CICV) which supports Virginia Private Colleges by advocating public policy positions and monitoring legislation impacting the independent higher education community. CICV provides a voice for Virginia's independent higher education community and advocates on behalf of schools, students, and their families at the Virginia Assembly, in Congress, and before boards, agencies and commissions. CICV estimates that 11.31% of the 16-17 dues ($31,202) was used for lobbying. The College President is a member of NAICU (National Association of Independent Colleges and Universities, CICV (see above), and VFIC (Virginia Foundation for Independent Colleges). When these organizations hold meetings, there are often local and state legislators in attendance. The President will from time to time engage in discussions with these legislators as a normal course of attending these meetings. X 1 491 0 0 1 1 1 0 0 1 0 646500 0 0 X X X X 0 96635479 625264 11256265 2056714 2018456 0 104441838 98665977 3786122 -1980017 2028873 1807730 0 96635479 97523495 2784724 1944033 1880525 1705750 0 98665977 81142194 5863447 13511478 1653868 1339756 0 97523495 74636284 736267 8666032 1469216 1427173 0 81142194 0.2 0.4 0.4 1 0 0 4019749 4019749 0 112954342 49119097 63835245 0 8238297 3235632 5002665 0 17317568 12222868 5094700 0 2676522 897389 1779133 79731492 0 0 Hedge Funds 5561840 F Private Capital 7017973 F Natural Resources 1467710 F Distressed Debt 225767 F Real Estate 4265839 F 18539129 0 US Government Grants Refundable 897636 Interest rate SWAP agremeent liability 1238957 2136593 76121760 6903830 0 0 -35255315 -28351485 104473245 1139382 6582 1145964 105619209 68250742 0 0 0 -6582 -6582 68257324 1139382 35238407 36377789 104635113 Schedule D, Part II, Line 3 In December 2016, a donor contributed 21 acres of land adjacent to the Claytor Nature Center which was a gift of open-space easement recognized by the Virginia Outdoors Foundation. This transaction increased the original easement from 470 acres to 491 acres. This gift was disclosed in Schedule M (Noncash Contributions). Schedule D, Part II, Line 5 The Virginia Outdoors Foundation has the responsibility to enter the property from time to time (usually on an annual basis) for purposes of inspection and enforcement of the terms of the easement after permission from and reasonable notice has been given to the College. The Foundation has the right to bring an action at law or in equity to enforce the restrictions as outlined in the easement. This right specifically includes the right to require restoration of the property to a condition of compliance with the terms of the easement as existed on the date of the gift(s) of the easement. A report is received from the Virginia Outdoors Foundation detailing their visit and addresses any issues that may arise. The College has a full-time Director of the Claytor Nature Center (the farm) who is responsible for working with the Virginia Outdoors Foundation. Schedule D, Part II, Line 9 The Virginia Outdoors Foundation easement was included with a gift of a 470 acre farm received in 1998. In December 2016, an additional 21 adjacent acres were donated to be added to the easement. Both gifts were substantiated by a real estate appraisal report and recorded as an asset of the College on the Statement of Financial Position and as gift revenue on the Statement of Activities when received. Schedule D, Part III, Line 4 The College's permanent art collection includes paintings, drawings, prints, and sculptures by Pierre Daura, works by Virginia folk artist Queena Dillard Stovall, works by Lynchburg artist Georgia Morgan, African art, photographs by Andy Warhol and numerous works by American and European artists. In fiscal year 2016-17, the College was the beneficiary of 31 works of art from the Rafael Alfonso Umana collection (reported on Schedule M) which are now part of the College's permanent collection. The mission of the Daura Gallery is to serve the College and the community by providing opportunities for learning, enjoyment, and personal growth, by strengthening the creative and curricular life of the College and by encouraging interdisciplinary affiliation of the visual arts with diverse academic disciplines. On June 30 2016, the College acquired Historic Sandusky. The mission of Historic Sandusky is to preserve and interpret the Sandusky site as a public museum in Lynchburg, Virginia, and to collect, preserve and disseminate information about the history of Sandusky, its inhabitants, and the role of Lynchburg in the Civil War. The acquisition included a collection of Lynchburg and Civil War artifacts including, but not limited to, original letters, photographs, portraits, firearms, furniture, musical instruments, books and other historic items and documents. These items are preserved and intended to provide opportunities to enrich the learning experience for Lynchburg College students and the broader community. Schedule D, Part V, Line 4 The College's endowment includes 1) funds that offer a comprehensive financial aid program for students demonstrating financial need, academic merit, and special leadership traits, 2) funds that support Distinguished Chairs, professorships, and special lectureships, 3) funds that offer numerous special programs to benefit students, faculty, staff and the broader community which are diverse in focus and create unique learning opportunities and 4) funds that offer financial support to the College's annual operating budget. Schedule D, Part XI, Line 2d Includes Financial Aid ($35,238,407) and Change in Value of Split Interest Agreements ($16,908) Schedule D, Part XI, Line 4b Includes Special Events. Schedule D, Part XII, Line 2d Includes Special Events. Schedule D, Part XII, Line 4b Includes Financial Aid. 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 College has published its notice of non-discriminatory policy of students through newspaper media. In addition, the College's website includes a statement that Lynchburg College does not discriminate on the basis of race, color, national origin, gender, disability, age, sexual orientation, or religion in its activities, including admission to and employment by the College. Schedule E, Part I, Line 6 Lynchburg College was the recipient of various grants and contracts from the Federal Government supporting student financial aid and other College programs in the 2016-17 fiscal year. These awards were received from the US Department of Education. 1 Central America and the Caribbean 1 2 Program Services St. Lucia Campus Expenses 189729 Central America and the Caribbean 0 0 Program Services Study Abroad 1166 Central America and the Caribbean 0 0 Program Services Study Abroad 550 North America (including Canada and Mexico, but not the United States) 0 0 Program Services Professional Development 2212 East Asia and the Pacific 0 0 Program Services Student Recruitment 3565 East Asia and the Pacific 0 0 Program Services Study Abroad 1900 East Asia and the Pacific 0 0 Program Services Study Abroad 792 East Asia and the Pacific 0 0 Program Services Study Abroad 2125 South Asia 0 0 Program Services Student Recruitment 4500 South America 0 0 Program Services Professional Development 600 South America 0 0 Program Services Study Abroad 1416 South America 0 0 Program Services Study Abroad 15200 Europe (including Iceland and Greenland) 0 0 Program Services Study Abroad 1488 Europe (including Iceland and Greenland) 0 0 Program Services Study Abroad 3535 Europe (including Iceland and Greenland) 0 0 Program Services Study Abroad 600 Europe (including Iceland and Greenland) 0 0 Program Services Study Abroad 1116 Europe (including Iceland and Greenland) 0 0 Program Services Alumni Networking Platform 4500 Europe (including Iceland and Greenland) 0 0 Program Services Professional Development 2443 Europe (including Iceland and Greenland) 0 0 Program Services Faculty Research/Professional Development 722 Europe (including Iceland and Greenland) 0 0 Program Services Professional Development 600 Europe (including Iceland and Greenland) 0 0 Program Services Professional Development 541 Europe (including Iceland and Greenland) 0 0 Program Services Professional Development 768 Europe (including Iceland and Greenland) 0 0 Program Services Professional Development 1005 Europe (including Iceland and Greenland) 0 0 Program Services Professional Development 1608 Sub-Saharan Africa 0 0 Program Services Study Abroad 1702 Sub-Saharan Africa 0 0 Program Services Study Abroad 66434 Sub-Saharan Africa 0 0 Grantmaking Financial Aid - Applied to billed tuition and fees 56150 Central America and the Caribbean 0 0 Grantmaking Financial Aid - Applied to billed tuition and fees 108632 East Asia and the Pacific 0 0 Grantmaking Financial Aid - Applied to billed tuition and fees 164150 North America (including Canada and Mexico, but not the United States) 0 0 Grantmaking Financial Aid - Applied to billed tuition and fees 17000 South America 0 0 Grantmaking Financial Aid - Applied to billed tuition and fees 25673 Europe (including Iceland and Greenland) 0 0 Grantmaking Financial Aid - Applied to billed tuition and fees 92460 1 2 774882 Unfunded Financial Aid Sub-Saharan Africa 3 55650 Applied to students' tuition and fees Funded Financial Aid Sub-Saharan Africa 1 500 Applied to students' tuition and fees Unfunded Financial Aid Central America and the Caribbean 6 105440 Applied to students' tuition and fees Funded Financial Aid Central America and the Caribbean 2 3192 Applied to students' tuition and fees Unfunded Financial Aid East Asia and the Pacific 8 162300 Applied to students' tuition and fees Funded Financial Aid East Asia and the Pacific 1 1850 Applied to students' tuition and fees Unfunded Financial Aid North America (including Canada and Mexico, but not the United States) 1 17000 Applied to students' tuition and fees Unfunded Financial Aid South America 2 25673 Applied to students' tuition and fees Unfunded Financial Aid Europe (including Iceland and Greenland) 5 89860 Applied to students' tuition and fees Funded Financial Aid Europe (including Iceland and Greenland) 1 2600 Applied to Students' Tuition and Fees 0 0 0 0 0 0 Schedule F, Part I, Line 2 Lynchburg College does not provide grants and other assistance to organizations outside the United States. Financial aid is awarded to students who attend the College and whose citizenship is outside the United States. This aid is based upon need and merit and is applied to each student's billed tuition and fees account. The College uses the College Board's PowerFaids software to manage its financial aid database and awarding procedures. X X X X X X X 1 McAllister and Quinn 1368 N Washington Ave Scranton PA 18509 Consultant for the Lynchburg College Office of Advancement for particular assistance with Grant-writing. 0 0 24779 -24779 0 24779 -24779 AL AR CA CT DC GA HI IL KS KY LA MD ME MN MO MS NC ND NH NJ NM NY OH OK OR PA RI TN UT VA WI Golf Tournament 13333 7630 5703 0 0 0 0 0 5029 Golf Tournament 17761 8625 9136 0 0 3128 0 0 100 0 31094 16255 14839 0 0 3128 0 0 5129 8257 6582 1 Non-funded Financial Aid 2080 32849018 Funded Aid 122 1925325 Schedule I, Part I, Line 2 Within the limits of available resources, the College makes every effort to make financial aid opportunities available to needy and academically eligible students. Students must be enrolled in full-time undergraduate or graduate degree programs to be considered for College academic scholarships, grants and/or need-based financial aid. With the exception of some academic scholarships and graduate aid, students who wish to apply for grants, loans or work-study must submit the Free Application for Federal Student Aid (FAFSA). Awards are considered on the basis of financial need and/or a student's academic profile. Awards are packaged using a combination of grants and scholarships, loans, and work-study assignments. Students must be in good academic standing and achieve the minimum standards of academic progress. We use the College Board's Powerfaids software to manage our financial aid database and awarding procedures. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 Kenneth R Garren President of the College 389565 0 0 0 0 0 23849 0 26304 0 439718 0 0 0 Rita A Detwiler VP for Enrollment Management 128541 0 0 0 0 0 12467 0 13034 0 154042 0 0 0 Denise A McDonald VP for Advancement thru 4/30/16 130279 0 0 0 0 0 12410 0 13225 0 155914 0 0 0 Stephen E Bright VP for Business and Finance and Treasurer 200388 0 0 0 0 0 16279 0 10893 0 227560 0 0 0 Sally C Selden Vice President and Dean for Academic Affairs 158464 0 0 0 0 0 13776 0 608 0 172848 0 0 0 A Russell Smith Director/Professor Physical Therapy 147464 0 0 0 0 0 13674 0 10756 0 171894 0 0 0 David Murphy Professor 128004 0 0 0 0 0 10617 0 11508 0 150129 0 0 0 Jeremy Welsh Director/Professor of Physician Assistant Medicine 190775 0 0 0 0 0 12285 0 4485 0 207545 0 0 0 Schedule J, Part I, Line 1a Travel for the President's spouse is provided while travelling for College purposes. She provides bona-fide and school-related business activities. As outlined in the President's contract with the College, the President is required to live in a house provided by the College. The house is physically located on the College's campus. Schedule J, Part I, Line 3 The Compensation Committee of the Board of Trustees approves the President's written employment contract on an annual basis. This approved written employment contract is approved by the full Board of Trustees and documented in the minutes. As deemed necessary by the Compensation Committee, an independent compensation consultant is used for input regarding the President's salary level as compared to other comparable positions. A Virginia College Building Authority 541249154 2010-12-21 8837932 Provides funds to refund a prior issue dtd 1/22/04 and other debt obligations 0 0 0 B Economic Development Authority of the City of Lynchburg Virginia 541225193 55123RAR7 2013-06-27 24308295 Refund two prior outstanding issues and Student Center expansion 1 0 0 C Economic Dev Authority of Amherst County Virginia 830477842 2013-05-29 7571000 Purchase and renovate the Health Sciences Bldg 0 0 0 A 2876667 0 8837932 0 0 0 100088 0 0 0 8737844 0 2010 1 0 1 1 B 3551045 0 24308295 0 12581 0 397452 0 0 1012015 13911409 0 2014 1 0 0 1 C 2653281 0 7571000 0 0 0 73036 0 0 7497964 0 0 2014 0 0 0 1 A 0 1 0 0 0.0009 0 0.0009 1 0 1 B 0 1 0 0 0.0034 0 0.0034 1 0 1 C 0 0 0 0 0 0 0 1 0 1 A 0 0 0 0 1 1 SunTrust Bank 22 0 0 0 0 1 B 0 0 0 0 0 0 0 0 1 C 0 0 0 0 1 0 0 0 1 A 1 B 1 C 1 Tyler Eccles Family member of a College Officer 46407 Compensation paid as an employee of the College 0 Sheila Garren Family member of a College Officer 36051 Compensation paid as employee of the College 0 Richard Pumphrey Family member of a College Officer 84958 Compensation paid as employee of the College 0 Related to Substantial Contributor Family member of a Substantial Contributor 97204 Compensation paid as employee of the College 0 X 31 646500 Opinion of Expert X 23 87832 Avg hi/low on gift date X 1 84500 Land appraisal X 1 154 Opinion of Expert X Travel Expenses 1 1191 FMV X Entertainment Expenses 3 9041 FMV X Donations for Silent Auction/Golf Tournament 50 6177 FMV X Furniture 2 6500 Opinion of Expert X Miscellaneous 20 333 FMV 2 0 1 0 Schedule M, Part I, Line 1 The works of art referenced in Line 1 were contributed by three donors. Schedule M, Part I, Line 9 The 23 stock gifts referenced in Line 9 were contributed by 20 different donors. Schedule M, Part I, Line 17 The real estate referenced in Line 17 consisted of 21 acres contributed by one donor. Form 990, Part V, Line 1a Includes Tax forms 1099-MISC (155), 1099-R (49), and 1098-T (3429). Form 990, Part VI, Section B, Line 11b The Tax Form 990 is internally prepared by the Senior Accountant - Endowment and Investments and reviewed by the Controller and VP for Business and Finance. The Form 990 is then sent to be reviewed by the following Trustees: Chair of the Board, Chair of the Budget and Finance Committee, and all members of the Audit Committee. They review the document and notify the Business Office of their approval within three business days. The completed Tax Form 990 is then emailed (or sent overnight) to all Trustees. The Business Office executes and submits the Form 990 to the IRS electronically. Schedule B, Schedule of Contributors, is not included in the information sent to the Trustees in order to maintain confidentiality for the College's donors. Form 990, Part VI, Section B, Line 12c As outlined in the College's By-laws, the Board prohibits conflict of interest by its Trustees and College Officers in particular matters under consideration by the Board, in accordance with the Conflict-of-Interest policy for Trustees and College Officers. Each Trustee and College Officer is asked to 1) review the Conflict-of-Interest policy annually, 2) disclose any possible personal, familial or business relationships that reasonably could give rise to conflict involving the College, 3) acknowledge by his or her signature that he or she is in compliance with the letter and the spirit of the policy. If a conflict is suspected or confirmed, the matter shall be discussed between the committee chair, the Board chair, and the Trustee in question, to determine if any specific vote by the Trustee should be recanted and if said Trustee should be involved in any future discussion on the topic. Should the matter not be resolved by the committee chair, the Board chair, and the Trustee in question, ultimate enforcement of any conflict will be determined by the Executive Committee as may be appropriate. The completed Conflict-of-Interest forms are monitored and maintained in the President's Office. Form 990, Part VI, Section B, Line 15 The compensation for all faculty and staff (except the College President) is set on an annual basis in keeping with the College's salary plan that was adopted after a year-long study in 2005-06. The President's salary is set by the College's Compensation Committee. The committee is led by the Board Chair and includes several other Board members who have been appointed to the committee by the Board Chair. The purpose of the committee is to review the President's job performance and determine the appropriate salary to recommend to the full Board of Trustees. The Trustees meet in Executive session during the annual May meeting to receive the report of the Compensation Committee and act on their recommendation. The actions of the Board of Trustees while in Executive session are documented in the minutes of the meeting. In October 2010, the College obtained the service of an independent consultant to analyze the President's compensation package with Presidential compensation from approximately ten (10) to fifteen (15) comparator colleges. In fiscal year 2015-16, a new study was performed by an independent consultant to review the compensation of senior management and the President and recommend to the Compensation Committee where any adjustments were necessary. Form 990, Part VI, Section C, Line 19 The documents are made available to the public upon request to the President of the College or the Vice President of Business and Finance. Form 990, Part VII, Section A, Line 1a On June 30, 2016, the Vice President and Dean for Student Development, John Eccles, retired. On July 1, 2016, Hayward Guenard assumed this position. Both are listed here as officers of the College since W-2 information is based on Calendar Year 2016. In May 2016, Michael Bonnette replaced Denise McDonald as an officer of the College. Calendar Year 2016 compensation information for both Mr. Bonnette and Mrs. McDonald is disclosed here since they were both officers for a partial year in 2016. Form 990, Part XI, Line 9 Change in value of Split Interest Agreements (-$16,908) Historic Sandusky Foundation Inc 757 Sandusky Drive Lynchburg VA 24502 542014523 Preserve and maintain historical property VA 501(c)(3) 9 Lynchburg College in Virginia 0 Lynchburg College (St Lucia) Limited No 6 Colony House P O BOX 3038 John Compton Highway Castries St Lucia ST Educational ST Lynchburg College in Virginia C 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 Historic Sandusky Foundation Inc o 43404 The College shares a paid faculty position with Historic Sandusky. This faculty member is the Director of Historic Sandusky and also teaches courses at the College. We estimate that 75% of the Director's salary should be considered a transaction with the related organization. This transaction amount represents 75% of the Director's salary.