2016-04-18T10:37:31-05:00 2015-05-31 420714325 RSM US LLP 230 N ELM ST STE 1100 GREENSBORO NC 27401 990 2014-06-01 560556753 LENOIR-RHYNE UNIVERSITY LENO 8283287100 PO BOX 7164 HICKORY NC 28603 WAYNE B POWELL PRESIDENT 8283287100 2016-04-14 ADRIENNE MCKINNEY P00819656 3362724551 2014 2016-08-17 19:52:53Z WAYNE B POWELL PO BOX 7164 HICKORY NC 28603 98680151 0 X WWW.LR.EDU X 1905 NC SEE SCHEDULE O.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. 30 29 1148 150 -21932 -21932 8344296 7157540 50965017 54994118 3926041 4165710 684411 576338 63919765 66893706 20777888 23314097 0 0 21181880 22469314 21140 113194 1989994 19759505 20646173 61740413 66542778 2179352 350928 181502901 180492722 29274690 29744890 152228211 150747832 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 38830362 22563383 43084295 PROVIDE EDUCATIONAL PROGRAMS AND CONFER UNDERGRADUATE DEGREES IN APPROXIMATELY SIXTY ACADEMIC PROGRAMS OF STUDY. 1562599 750714 3681518 PROVIDE EDUCATIONAL PROGRAMS AND CONFER MASTERS LEVEL GRADUATE DEGREES IN COUNSELING, ATHLETIC TRAINING, BUSINESS, AND OCCUPATIONAL THERAPY. 5533439 8228305 PROVIDE STUDENT LIFE PROGRAMS TO RESIDENTIAL AND COMMUTER STUDENTS AS PART OF THEIR ACADEMIC EXPERIENCES AT THE UNIVERSITY. 45926400 1 1 0 0 0 0 0 0 1 1 1 1 0 0 1 1 1 0 1 0 1 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 2929 0 1 1148 1 1 1 0 0 0 0 0 0 0 0 0 X 30 29 1 1 0 0 0 1 0 1 1 0 0 1 1 1 1 1 0 1 1 0 NC SC X WAYNE B POWELL 8283287334 643 8TH AVENUE NE HICKORY NC 28601 X BOYD L GEORGE TRUSTEE - CHAIR 1.00 X X 0 0 0 KATHERINE F MCKENZIE TRUSTEE - VICE CHAIR 1.00 X X 0 0 0 MARGARET H JACKSON TRUSTEE - SECRETARY 1.00 X X 0 0 0 CHARLES M SNIPES TRUSTEE - ASSISTANT SECRETARY 1.00 X X 0 0 0 JEROME W BOLICK TRUSTEE - TREASURER 1.00 X X 0 0 0 KI-HYUN KENNY CHUN TRUSTEE 1.00 X 0 0 0 DUANE A DASSOW TRUSTEE 1.00 X 0 0 0 G SCOTT HOMESLEY TRUSTEE 1.00 X 0 0 0 STEVE O HUNT TRUSTEE 1.00 X 0 0 0 DAVID R KECK JR TRUSTEE 1.00 X 0 0 0 JAMES V TARLTON TRUSTEE 1.00 X 0 0 0 STEPHEN M THOMAS TRUSTEE 1.00 X 0 0 0 MICHAEL W HINSHAW TRUSTEE 1.00 X 0 0 0 DEWYONE PEDIE KING TRUSTEE 1.00 X 0 0 0 GEORGE A MORETZ TRUSTEE 1.00 X 0 0 0 C CLIFF RITCHIE TRUSTEE 1.00 X 0 0 0 TIMOTHY M SMITH TRUSTEE 1.00 X 0 0 0 SYBIL F STEWART TRUSTEE 1.00 X 0 0 0 TONY W WOLFE TRUSTEE 1.00 X 0 0 0 D RHODES WOOLLY TRUSTEE 1.00 X 0 0 0 JEFFREY P BRONNENBERG TRUSTEE 1.00 X 0 0 0 ALAN P DAVIS TRUSTEE 1.00 X 0 0 0 JANE C HANDLY TRUSTEE 1.00 X 0 0 0 JEARLD L LEONHARDT TRUSTEE 1.00 X 0 0 0 GABRIELLE MACON TRUSTEE 1.00 X 0 0 0 JOSEPH P MCGUIRE TRUSTEE 1.00 X 0 0 0 G STEVEN PLONK TRUSTEE 1.00 X 0 0 0 LEONARD H BOLICK TRUSTEE 1.00 X 0 0 0 WAYNE B POWELL PRESIDENT 40.00 X X 306735 0 26990 WILLIAM B TREXLER TRUSTEE 1.00 X 0 0 0 PETER J KENDALL SENIOR VP ADMIN & FINANCE 40.00 X 151789 0 14031 DREW L VAN HORN VP INSTITUTIONAL ADVANCEMENT 40.00 X 135596 0 18160 LARRY M HALL PROVOST 40.00 X 152344 0 16014 CLAYTON J SCHMIT PROVOST LTSS 40.00 X 128365 0 17245 RACHEL A NICHOLS VP ENROLLMENT MANAGEMENT 40.00 X 113655 0 17828 PAUL S SHUMAKER CONTROLLER 40.00 X 87489 0 14146 KATHRYN L FISHER DEAN OF STUDENTS 40.00 X 88934 0 6049 NEIL MCGEACHY DIRECTOR OF INTERCOLLEGIATE ATHLETICS 26.00 14.00 X 176924 0 10734 1341831 0 141197 8 0 1 0 ARAMARK CAMPUS SERVICES LR BOX 7476 HICKORY NC 28603 FOOD SERVICES 2248007 ARAMARK FACILITY SERVICES 1255 CRESCENT GREEN DRIVE STE 210 CARY NC 27518 MAINTENANCE & HOUSEKEEPING 2201483 ELLUCIAN COMPANY LP 4 COUNTRY VIEW ROAD MALVERN PA 19355 INFORMATION TECH CONSULTING 1300132 DAVID E LOOPER & CO PO BOX 3224 HICKORY NC 28603 CONSTRUCTION NEEDS 1181886 WM C REYNOLDS CO INC PO BOX 2068 HICKORY NC 28603 CONSTRUCTION NEEDS 487882 25 760899 6396641 411772 7157540 TUITION AND FEES 611710 47109333 47109333 AUXILIARY SERVICES 611710 7884785 7884785 54994118 4300231 -21932 4322163 142611 57964 84647 84647 84647 31593960 31725045 3436 -131085 -3436 -134521 -134521 MISCELLANEOUS 611710 491691 491691 491691 66893706 54994118 -21932 4763980 23314097 23314097 1470967 776083 629574 65310 16552652 8733179 7084535 734938 794771 419321 340162 35288 2328489 1228511 996593 103385 1322435 697717 566002 58716 3993300 2106865 1709132 177303 76615 40422 32791 3402 125578 66255 53747 5576 113194 113194 179066 179066 1558438 822232 667011 69195 259301 136807 110981 11513 712394 375859 304905 31630 1543518 814360 660626 68532 1735 915 743 77 57335 30250 24539 2546 1218152 642697 521369 54086 691420 364793 295928 30699 4449423 2347516 1904353 197554 553088 291809 236722 24557 UTILITIES 1973402 1041167 844616 87619 REPAIRS/SERVICE AGREEME 544070 287051 232862 24157 BAD DEBTS 492523 259855 210800 21868 MEMBERSHIPS & DUES 189434 99945 81078 8411 2027381 1028694 938249 60438 66542778 45926400 18626384 1989994 4720 4720 15540389 11935765 4305136 3005101 1612524 2982617 1463971 1225274 8823 23918 719057 666105 106331031 44991668 59932986 61339363 62337061 62134183 29236031 30903846 6342203 6271830 181502901 180492722 3580546 4527172 750278 1943914 13595000 13414821 157391 190387 7452559 6168859 540761 330615 3198155 3169122 29274690 29744890 X 34691321 36096867 40743833 36746977 76793057 77903988 152228211 150747832 181502901 180492722 X 350928 -2025423 194116 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 96337197 1414979 1752092 3708829 1460644 462373 93872422 87799864 4447337 9213398 3441929 1256552 424921 96337197 58142226 23881848 9220362 2193392 727511 523669 87799864 61678109 428546 -1650927 1632407 611043 70052 58142226 52783523 2073966 9215730 1680805 641678 72627 61678109 0.03190 0.78160 0.18650 1 1 1 381063 2318838 2699901 84827758 40031560 44796198 11453432 1234559 10218873 7349940 3725549 3624391 61339363 EQUITY FUNDS 5193288 F BOND FUNDS 2406474 F HEDGE FUNDS 9952261 F LIMITED PARTNERSHIPS 10960045 F ANNUITY CONTRACTS 2391778 F 30903846 GOVERNMENT ADVANCES FOR STUDENT LOANS 1657389 INTEREST RATE SWAP 659710 ASSET RETIREMENT OBLIGATIONS 852023 3169122 X 41705951 -2025423 -23118980 -25144403 66850354 103751 -60399 43352 66893706 43186330 61400 61400 43124930 103751 23314097 23417848 66542778 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 -23,314,097. GAIN ON INTEREST RATE SWAP 50,319. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 144,798. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -57,964. NONCASH CONTRIBUTIONS 1,001. LOSS ON SALE OF FIXED ASSETS -3,436. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 57,964. LOSS ON SALE OF FIXED ASSETS 3,436. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSE 23,314,097. 1 0 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 DIRECT LOANS, PELL GRANTS, NORTH CAROLINA NEED-BASED SCHOLARSHIP PROGRAM, AND NORTH CAROLINA TEACHING FELLOWS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 12106057 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 487021 0 0 0 0 0 0 12593078 0 12593078 1 0 0 1 1 0 X X X X X 1 BLACKBAUD 2000 DANIEL ISLAND DRIVE CHARLESTON SC 29492 PROVIDES DATABASE SUPPORT 0 0 19781 -19781 EASYFISH MARKETING LLC 2220 HWY 70 SE STE 459 HICKORY NC 28602 PROVIDES DATABASE SUPPORT 0 0 13625 -13625 ROYALL & COMPANY 1920 EAST PARHAM ROAD RICHMOND VA 23228 FUNDRAISING CONSULTING 0 0 71163 -71163 104569 -104569 NONE NONE 0 SCHOLARSHIPS AND FELLOWSHIPS TO STUDENTS 1498 23314097 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. 1 X X 0 0 0 0 0 0 0 0 0 WAYNE B POWELL PRESIDENT 250000 0 0 0 56735 0 15000 0 11990 0 333725 0 0 0 PETER J KENDALL SENIOR VP ADMIN & FINANCE 151789 0 0 0 0 0 9283 0 4748 0 165820 0 0 0 DREW L VAN HORN VP INSTITUTIONAL ADVANCEMENT 135596 0 0 0 0 0 8590 0 9570 0 153756 0 0 0 LARRY M HALL PROVOST 152344 0 0 0 0 0 9399 0 6615 0 168358 0 0 0 NEIL MCGEACHY DIRECTOR OF INTERCOLLEGIATE ATHLETIC 125355 0 0 0 51569 0 7521 0 3213 0 187658 0 0 0 A LENOIR-RHYNE UNIVERSITY 560556753 NONEAVAIL 2008-03-13 13592000 SEE SCHEDULE O. 0 0 0 A 12865000 13592000 183622 13408378 13408378 2010 0 1 1 1 A 0 0 0 0 1 0 0 A 1 1 1 SUN TRUST 5.000000000000 0 0 0 0 0 A 1 X 0 NOT VALUED X 0 NOT VALUED X 23 393488 FAIR MARKET VALUE X 1 17283 TAX VALUE X 1 0 NOT VALUED X CPR MANNEQUINS 1 600 FAIR MARKET VALUE X MISC SUPPLIES 1 266 COST X GIFT CARDS 5 135 FAIR MARKET VALUE 0 0 0 PART I, COLUMN (B): SCHEDULE M PART I COLUMN B REFLECTS THE NUMBER OF CONTRIBUTORS. 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. BOARD OF TRUSTEE MEMBER MARGARET JACKSON OWNS THE JACKSON GROUP. LRU HAS USED THIS BUSINESS FOR PUBLIC RELATIONS. 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 11 THE BOARD MEMBERS OF THE FINANCE COMMITTEE REVIEWED THE DRAFT 990 (PUBLIC INSPECTION COPY) IN DETAIL. BASED ON THIS REVIEW, THEY APPROVED THE 990 (PUBLIC INSPECTION COPY) FOR FILING. SUBSEQUENTLY, THE PUBLIC INSPECTION COPY WAS MADE AVAILABLE TO EACH BOARD MEMBER IN ADVANCE OF THE FILING DATE. 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 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. 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 VII, SECTION A, COLUMN F HOURS PROVIDED TO RELATED ORGANIZATION: EMPLOYEE: NEILL R. MCGEACHY HOURS PER WEEK: 14 RELATED ORGANIZATION: PIEDMONT EDUCATIONAL FOUNDATION PIEDMONT EDUCATIONAL FOUNDATION, INC. PAID 58,407 OF TOTAL COMPENSATION FOR HIS SERVICES TO THAT ORGANIZATION. FORM 990, PART XI, LINE 9: NONCASH CONTRIBUTION -1,001. GAIN ON INTEREST RATE SWAP 50,319. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 144,798. FORM 990, PART XII, LINE 2C, FINANCE COMMITTEE: THE AUDIT COMMITTEE'S PROCESS OF OVERSIGHT AND SELECTION HAS NOT CHANGED SINCE PRIOR YEAR. FORM 990, SCHEDULE K, PART I, COLUMN F FOR REFINANCING OF PREVIOUS BOND ISSUE. FOR REFINANCING A PORTION OF AN OUTSTANDING LINE OF CREDIT WITH A BANK, THE PROCEEDS OF WHICH WERE USED FOR THE RENOVATION AND REHABILITATION OF A CAMPUS RESIDENCE HALL. FOR PAYING CERTAIN EXPENSES INCURRED IN CONNECTION WITH THE ISSUANCE OF THE BOND. REESE HOLDINGS LLC PO BOX 7164 HICKORY NC 28603 560556753 HOLDING OF CONTRIBUTED REAL ESTATE NC 0 50000 LRU PIEDMONT EDUCATIONAL FOUNDATION PO BOX 7280 HICKORY NC 28603 566061289 PROVIDE ATHLETIC SCHOLARSHIPS FOR LENOIR RHYNE UNIVERSITY NC 501(C)(3) LINE 11B, II N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0