2016-04-15T16:48:32-07:00 2015-05-31 990 2014-06-01 362167770 LAKE FOREST COLLEGE LAKE 8472343100 555 N Sheridan Rd Lake Forest IL 60045 Lori Sundberg VP for Finance and Planning 8477355034 2016-04-15 2014 2016-08-17 19:52:53Z Stephen Schutt 555 N Sheridan Road Lake Forest IL 60045 108928412 0 X www.lakeforest.edu X 1857 IL Lake Forest College is a national residential liberal arts college, accredited by the North Central Association of Colleges and Schools. 23 22 1483 1100 471659 0 9109709 17212054 75107780 79489962 22236856 6111616 1501846 1646682 107956191 104460314 34839207 36908065 0 0 28215385 28723846 0 0 2253573 26049644 26634860 89104236 92266771 18851955 12193543 179965596 194165223 56260444 56473651 123705152 137691572 Provide post-secondary education leading to a baccalaureate degree. Program service expenditures are made in conjunction with the operation of a liberal arts college spread over 107 acres with approximately 56 educational and support buildings. The College is accredited by the North Central Association of Schools, and had 1,600 full time equivalent students in the undergraduate level with 107 full time equivalent faculty. Bachelor of Arts degrees conferred were 370 during the year, with 3 Master's degrees were conferred. The College had approximately 1,227 resident students in the residence halls. 0 0 55171972 36908065 66444297 Academic programs served 1,600 full time equivalent students in a primarily liberal arts undergraduate program. Bachelor of Arts degrees conferred was 370 during the year, with 3 Master's degrees conferred. Program costs include academic departments and the faculty salaries and benefits. 12108676 0 1189019 Student Services includes athletics, counseling, admissions, financial aid services, health services, intercultural programming and career development for all students. Residential Life programming is provided for students living on campus. 5016746 0 21404 Academic support includes the cost of the library (facilities, salaries, acquisitions), other types of academic support for students and the costs of administration in academics (e.g. secretaries, hiring expense, Dean's Office). 10099322 0 12134599 Auxiliary services are primarily the cost of providing housing to the students. 72% of the students lived on campus. Students come from 47 states and 79 countries. Other auxiliary programs include costs for faculty housing, printing services, summer conferences, and other services not directly related to the instruction of students. 10099322 0 12134599 82396716 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 1 1 1 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 2050 1 1 1483 1 1 1 1 CJ FR 0 0 0 1 1 0 0 0 0 X 23 22 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 1 1 1 1 1 1 IL X Doris Dumas 8477355039 555 N Sheridan Rd Lake Forest IL 60045 Marsha K Anderson Trustee 1 0 X 0 0 0 Earl J Barnes II '86 Trustee 1 0 X 0 0 0 Judith Heisley Bishop '88 Trustee 1 0 X 0 0 0 Charles M Brennan III Trustee 1 0 X 0 0 0 William G Brown Trustee 1 0 X 0 0 0 John D Carruthers Trustee 1 0 X 0 0 0 David A Castagnetti Trustee 1 0 X 0 0 0 Daniel D Dolan Jr '80 Vice Chair 1 0 X X 0 0 0 James R Donnelley Trustee 1 0 X 0 0 0 Doni Fordyce-Urfirer Trustee 1 0 X 0 0 0 David F Gorter Trustee 1 0 X 0 0 0 James M Hunter Trustee 1 0 X 0 0 0 Robert D Krebs Trustee 1 0 X 0 0 0 William A Lowry Secretary 1 0 X X 0 0 0 Charles JB Mitchell Trustee 1 0 X 0 0 0 Mark A Nagle Trustee 1 0 X 0 0 0 Craig Omtvedt Trustee 1 0 X 0 0 0 William U Parfet '70 Chairman of the Board 1 X X 0 0 0 Lorna Pfaelzer Vice-Chair 1 0 X X 0 0 0 Joanne Storkan Trustee 1 0 X 0 0 0 Stephen C Strelsin Trustee 1 0 X 0 0 0 Claudia Wyatt-Johnson '69 Trustee 1 0 X 0 0 0 Stephen D Schutt President 50 0 X X 626615 0 195096 Michael T Orr Provost and Dean of Faculty 50 0 X 170724 0 45147 Philip Hood VP Development/Alumni Relations & Secretary 50 0 X 173632 0 40028 Robert A Flot Dean of Students 50 0 X 135032 0 23086 Lori Sundberg VP for Finance and Planning 50 0 X 133502 0 22095 Richard Mallette Associate Dean 50 0 X 214434 0 35384 Jacqueline Slaats Director Athletics & Sr Advisor to President 50 0 X 146112 0 23801 James Cubit Head Librarian and Director of IT 50 0 X 134342 0 34566 Richard J Bartolozzi Senior Director Gift Planning 50 0 X 123185 0 21057 Carolyn Tuttle Professor of Economics 40 0 X 115291 0 26754 Leslie T Chapman VP for Business Affairs/Treasurer 25 0 X 158361 0 32811 William G Motzer VP for Admissions and Career Services 50 0 X 110825 0 22977 Janet McCracken Professor of Philosophy 40 0 X 114000 0 21154 2356055 0 543956 22 1 1 0 NORTHSHORE UNIV HEALTH HP Hospital 777 Park Ave West Highland Park IL 60035 Healthcare Clinic Services 212844 TRUE COLORS DECORATING 1701 S FAIRVIEW PARK RIDGE IL 60068 Decoration Services 169621 ESSCOE LLC 25741 N HILLVIEW CT MUNDELEIN IL 60060 Heating and Safety Services 135846 MARIANI ENTERPRISES 300 ROCKLAND AVE LAKE BLUFF IL 60044 Ground Services 118319 PREFONTAINE AND ASSOCIATES PO BOX 923 MUNDELEIN IL 60060 Painting Services 112092 5 0 0 0 0 1765734 15446320 1978741 17212054 Tuition and Fees 611310 63813091 63813091 0 0 Residence Hall and Board 611310 12134598 12134598 0 0 Graduate Programs 611310 132240 132240 0 0 Off-Campus Programs 611310 250100 250100 0 0 Other Sources 611310 3159933 3159933 0 0 0 0 0 0 79489962 667010 0 0 667010 5239 0 0 5239 0 0 0 0 1175023 0 0 0 1175023 0 1175023 299357 0 875666 9907465 0 4468098 0 5439367 0 5439367 0 0 5439367 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Glen Rowan Guest House 721000 153637 0 153637 0 Printing services 323100 26712 0 26712 0 Ice Rink Rental and Sports Center 713900 291310 0 291310 0 0 0 0 0 471659 104460314 79789319 471659 6987282 X 0 0 36908065 36908065 0 0 0 0 1337644 540846 569365 227433 0 0 0 0 20970860 17665850 2278175 1026835 1547379 1179024 283711 84644 3423494 2536888 681313 205293 1444469 1081058 279646 83765 0 0 0 0 50813 14219 36594 0 103030 0 103030 0 0 0 0 0 0 0 62025 0 62025 0 6908661 6820912 75478 12271 141473 134203 0 7270 3061936 2269554 455689 336693 649399 386616 229863 32920 0 0 0 0 4692384 4681401 0 10983 852927 748587 21394 82946 0 0 0 0 653324 500821 49772 102731 2153361 649153 1504208 0 0 0 0 0 3851362 3678232 173130 0 598198 235985 352906 9307 Off-Campus Programs 1386600 1386600 0 0 Equipment purchases 574681 485955 88726 0 Other 894686 492747 371457 30482 92266771 82396716 7616482 2253573 3173015 8977672 791478 1310259 1603668 5752961 1103633 1911640 0 0 0 0 2719050 2644639 43620 35664 1055800 1041712 138328139 59429421 80919244 78898718 12183182 10711103 70410818 77073607 0 0 4853885 4693805 1108203 1113443 179965596 194165223 6517801 5753543 2217214 2174480 4255178 5280770 40815174 40879692 0 0 0 0 0 0 0 0 2455077 2385166 56260444 56473651 X 46876138 49725105 15988334 24394421 60840680 63572046 123705152 137691572 179965596 194165223 X 12193543 2829776 0 62025 0 -1098924 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 X X X X Teaching 0 83284791 975926 8675689 1356010 2975470 0 88604926 77791034 1250723 8608307 1432546 2932727 0 83284791 69490549 865057 11820500 1493559 2891513 0 77791034 70907176 3827613 -853807 1454929 2935504 0 69490549 60146007 3692574 11537377 1438197 3030585 0 70907176 0.21 0.66 0.13 0 0 0 2257533 2257533 2336076 128287957 55489241 75134792 0 0 0 0 0 5191770 3940180 1251590 0 254803 0 254803 78898718 0 0 Alternative Investments 76000790 F Mortgages and Faculty Houses 1047560 F Hedge Funds 16492 F Real Estate 6569 F Commodities 2196 F 77073607 0 Annuties 683503 Post-Retirement Post-Employment Benefits 1701663 2385166 X 70382024 2829775 0 0 0 2829775 67552249 0 36908065 36908065 104460314 55296680 0 0 0 0 0 55296680 62026 36908065 36970091 92266771 Schedule D, Part III, Line 1 Collections (historic treasures and similar treasures held as part of collections) which were acquired through purchases of contributions since the College's inception are not reflected in the Statement of Financial Position. As of May 31, 2015 and May 31, 2014, the insured value of these items was approximately $4,500,000 and $3,400,000, respectively. As of May 31, 2015, the College has a Life Estate Interest in artwork and museum furnishings valued at approximately $4,400,000. Schedule D, Part III, Line 4 Teaching, research, exhibition and publication are the foremost ongoing goals of the Gallery's permanent collection. To best serve the Lake Forest College community and its non-community constituents, the Gallery will continue to collect the best of the past and the present, acquiring art that is of high aesthetic quality and historic importance, objects representative of major period styles and significant movements and directions, objects consonant with the Gallery's current holdings. Schedule D, Part V, Line 4 The College's Endowment provides revenue to support the general operations of the College primarily for academic and scholarship programs. Individual funds are managed by the donor's intent. Schedule D, Part X, Line 2 The College has received a determination letter from the Internal Revenue Service indicating that it is a tax-exempt organization as provided in Section 501(c)(3) of the Internal Revenue Code of 1986 and, except for taxes pertaining to unrelated business income, is exempt from federal and state income taxes. No provision has been made for income taxes in the accompanying financial statements as the College had no material unrelated business income in fiscal years 2015 and 2014. The College follows guidance issued by the FASB, ASU 2009-06, with respect to accounting for uncertainty in income taxes. A tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. The College recognizes interest and penalties related to unrecognized tax benefits in interest and income tax expense, respectively. The College has no amounts accrued for interest or penalties as of May 31, 2015. The College does not expect the total amount of unrecognized tax benefits to significantly change in the next 12 months. The College has applied this criterion to all tax positions for which the statute of limitations remains open. The tax years open to examination by tax authorities under the statute of limitations include fiscal 2012 through 2014. The College has determined that its tax provision satisfies the more likely than not criterion, and that no provision for income taxes is required at May 31, 2015. Schedule D, Part XI, Line 2d Scholarships awarded and shown net of revenue on the audit statement = -$36,908,065. Schedule D, Part XI, Line 4b Scholarships awarded and shown net of revenue on the audit statement = -$36,908,065. Schedule D, Part XII, Line 2d Scholarships awarded and shown net of revenue on the audit statement = -$36,908,065. Schedule D, Part XII, Line 4b Scholarships awarded and shown net of revenue on the audit statement = -$36,908,065. 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 College uses its website, its recruitment literature and posters to advertise its nondiscrimination policy. At least 40 percent of the students come from outside the Illinois region, so this method has been more effective than using newspaper or broadcasting media. Schedule E, Part I, Line 6 The College receives funds from the Department of Education on behalf of students. Programs include the Federal Pell Grant Program, Federal Supplemental Opportunity Grant, Federal Perkins Loan Program, Federal Family Education Loan Program, and Federal Work-Study Program. The College has also received grants from the National Science Foundation. 1 Europe (including Iceland and Greenland) 1 1 Program Services Academic Programs Study 104783 Central America and the Caribbean 0 0 Investments Chicago Growth Partners 1679099 East Asia and the Pacific 0 0 Investments Asia Alternatives Capital Partners Investments 934628 Central America and the Caribbean 0 0 Investments Wynnchurch Investments 346319 Central America and the Caribbean 0 0 Grantmaking Grants are only for scholarship and are substantiated in the Financial Aid Office on the basis of need and merit. The grants are applied directly to the tuition statements of the individual students. Only students enrolled at Lake Forest College receive grants. 10750 East Asia and the Pacific 0 0 Grantmaking Grants are only for scholarship and are substantiated in the Financial Aid Office on the basis of need and merit. The grants are applied directly to the tuition statements of the individual students. Only students enrolled at Lake Forest College receive grants. 1289648 Europe (including Iceland and Greenland) 0 0 Grantmaking Grants are only for scholarship and are substantiated in the Financial Aid Office on the basis of need and merit. The grants are applied directly to the tuition statements of the individual students. Only students enrolled at Lake Forest College receive grants. 1223050 Middle East and North Africa 0 0 Grantmaking Grants are only for scholarship and are substantiated in the Financial Aid Office on the basis of need and merit. The grants are applied directly to the tuition statements of the individual students. Only students enrolled at Lake Forest College receive grants. 309150 North America (including Canada and Mexico, but not the United States) 0 0 Grantmaking Grants are only for scholarship and are substantiated in the Financial Aid Office on the basis of need and merit. The grants are applied directly to the tuition statements of the individual students. Only students enrolled at Lake Forest College receive grants. 435900 Russia and the newly independent States 0 0 Grantmaking Grants are only for scholarship and are substantiated in the Financial Aid Office on the basis of need and merit. The grants are applied directly to the tuition statements of the individual students. Only students enrolled at Lake Forest College receive grants. 150300 Sub-Saharan Africa 0 0 Grantmaking Grants are only for scholarship and are substantiated in the Financial Aid Office on the basis of need and merit. The grants are applied directly to the tuition statements of the individual students. Only students enrolled at Lake Forest College receive grants. 1342450 South America 0 0 Grantmaking Grants are only for scholarship and are substantiated in the Financial Aid Office on the basis of need and merit. The grants are applied directly to the tuition statements of the individual students. Only students enrolled at Lake Forest College receive grants. 289750 1 1 8115827 Scholarships Central America and the Caribbean 1 10750 Applied to Tuition 0 Scholarships East Asia and the Pacific 42 1289648 Applied to Tuition 0 Scholarships Europe (including Iceland and Greenland) 31 1223050 Applied to Tuition 0 Scholarships Middle East and North Africa 9 309150 Applied to Tuition 0 Scholarships North America (including Canada and Mexico, but not the United States) 18 435900 Applied to Tuition 0 Scholarships Russia and the newly independent States 4 150300 Applied to Tuition 0 Scholarships South America 9 289750 Applied to Tuition 0 Scholarships Sub-Saharan Africa 32 1342450 Applied to Tuition 0 1 0 1 0 1 0 Schedule F, Part I, Line 2 Grants are only for scholarship and are substantiated in the Financial Aid Office on the basis of need and merit. The grants are applied directly to the tuition statements of the individual students. Only students enrolled at Lake Forest College receive grants. 1 Scholarships 1442 36918665 0 Schedule I, Part I, Line 2 All grants are awarded to enrolled students based on either financial need or merit. Grants are applied directly to the student's account. Scholarships for financial need are determined by the Financial Aid Office. Scholarships for merit are determined by the Admissions Office. X X 1 1 X X X 0 1 0 0 0 0 0 0 0 Stephen D Schutt President 313166 0 0 0 313449 0 127896 0 67200 0 821711 0 199972 0 Michael T Orr Provost and Dean of Faculty 166738 0 0 0 3986 0 18575 0 26572 0 215871 0 0 0 Philip Hood VP Development/Alumni Relations & Secretary 172643 0 0 0 989 0 18500 0 21528 0 213660 0 0 0 Leslie T Chapman VP for Business Affairs/Treasurer 67861 0 0 0 90500 0 25362 0 7449 0 191172 0 0 0 Robert A Flot Dean of Students 134744 0 0 0 288 0 13750 0 9336 0 158118 0 0 Lori Sundberg VP for Finance and Planning 132599 0 0 0 903 0 13465 0 8630 0 155597 0 0 0 William G Motzer VP for Admissions and Career Services 110825 0 0 0 0 0 11711 0 11266 0 133802 0 0 0 Richard Mallette Associate Dean 82959 0 0 0 131475 0 26000 0 9384 0 249818 0 0 0 Jacqueline Slaats Director Athletics & Sr Advisor to President 145629 0 0 0 483 0 14800 0 9001 0 169913 0 0 0 James Cubit Head Librarian and Director of IT 133016 0 0 0 1326 0 14300 0 20266 0 168908 0 0 0 Janet McCracken Professor of Philosphy 114000 0 0 0 0 0 11683 0 9471 0 135154 0 0 0 Schedule J, Part I, Line 1a On-campus housing is provided to the President as a condition of employment and is non-taxable under IRC-119. Dues paid at a local private club allow the President's Office to host college functions at that facility since the club does not allow corporate memberships. Because the President does not make personal use of the club, the benefit is considered non-taxable. Schedule J, Part I, Line 3 The College has written compensation guidelines for the President and Officers. Compensation for each is benchmarked to that of peers at colleges in the Associated Colleges of the Midwest and the Great Lakes Colleges Association. Information about level of reward at other national Carnegie IIB colleges is reviewed. Data from the Chronicle of Higher Education on presidential salaries is also reviewed. Annual goals, objectives and strategic initiatives are set for the President by the Board of Trustees. Schedule J, Part I, Line 4 The Board of Trustees established a 457(f) Plan for the President of the College for the period June 1, 2011 through June 1, 2014. Full vesting occurred after June 1, 2014, and $305,972 was paid in September 2014. The Board of Trustees established a 457(f) Plan for years 2014 through 2017. Amount accrued to the Plan in 2014-2015 was $101,896. Full vesting will occur on May 31, 2018, at which time the President will be eligible to receive the full distribution. Interest is credited quarterly using the prime rate. A Illinois Finance Authority 861091967 45200FMP1 2008-08-21 6000000 Construction Recreational Facility 0 0 0 B Illinois Finance Authority 861091967 45203HJU7 2012-07-24 16375152 Construction of Residence Hall 0 0 0 C Illinois Finance Authority Revenue Refunding Bonds 861091967 2014-10-01 18275000 Refinance 1998 Bonds 0 0 0 A 0 0 6044822 0 0 0 138011 0 0 5906811 0 0 2010 0 0 1 1 B 0 0 16375152 1092612 792937 0 319200 0 0 14169403 0 0 2013 0 0 1 1 C 0 0 18275000 0 0 13093 277738 0 0 0 0 0 2014 1 0 1 1 A 0 0 0 0 0 0 0 0 0 1 B 0 0 1 1 0 0.00006 0 0.00006 0 0 1 C 0 0 0 0 0 0 0 0 0 1 A 0 0 0 1 1 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 1 0 0 1 1 Northern Trust Bank 10 0 0 0 0 1 A 1 B 1 C 1 Schedule K, Part IV, Line 2c-08/21/2008 6,000,000 Illinois Finance Authority Arbitrage analysis was performed by the Arbitrage Group on July 19, 2013. The results of the report indicate that there is no rebate liability. Schedule K, Part IV, Line 2c-07/24/2012 16,375,152 Illinois Finance Authority Arbitrage analysis was performed by the Arbitrage Group on July 17, 2015. The results of the report indicate that there is no rebate liability. Schedule K, Part IV, Line 2c-10/01/2014 18,275,000 Illinois Finance Authority New bond. An arbitrage analysis to be performed over the next fiscal year. X 6 0 na X 70 1978741 FMV 4 0 1 0 Schedule M, Part I, Line 33 The College does not capitalize works of art in its collection, as allowed under SFAS 116. Number of contributions in Column (B) refers to number of gifts and not the number of items. Gifts of Art include framed paintings and art gallery. Gifts of Public Traded Securities are counted by individual donors and type of stock. These gifts are valued by averaging the high and low market prices as of the date of gift. Form 990, Part VI, Section A, Line 1a The Executive Committee shall consist of the Chairman and Vice-Chairman of the Board of Trustees, Secretary of the Board, President of the College, Office of the Alumni Association Board, and Chairmen of Standing Committees. The Executive Committee shall have power to act and to exercise authority vested in the Board. The Executive Committee shall assist the Chairman of the Board and the President with their joint responsibility to help the Board function effectively and efficiently. Form 990, Part VI, Section A, Line 9 Former Officers, Leslie Chapman and William Motzer cannot be reached at the Lake Forest College's mailing address Form 990, Part VI, Section B, Line 11b Form 990 is given to the trustee members of the Budget and Audit Committee for review and comment prior to filing. Review will be done by email since a regularly scheduled meeting would not have met the filing deadlines. Prior to the meeting, Form 990 was reviewed by the President, Vice President of Finance and Planning, and an independent auditor. After Budget and Audit Committee reviews the tax form and prior to filing, Form 990 is made available to the full Board of Trustees via the College's secure intranet site or email if requested. Form 990, Part VI, Section B, Line 12c All Interested Persons are required to disclose conflicts annually. Forms are sent to Board Members, Senior Administrators, and all Department Managers. The Secretary of the College accumulates all disclosure statements for Board Members and furnishes them to the Chairman of the Board. The Secretary of the College will report to the Chairman of the Board those individuals who fail to furnish an annual statement. Board Members and Senior Administrators who have declared a conflict of interest, or who have been found to have a conflict of interest, shall refrain from participating in any proposed transactions involving outside interest held by the Board Member or Senior Administrator. This includes consideration of the transaction or voting, unless the Board or Administration requests information or interpretation for special reasons that are stated on the record or in writing. Should a determination regarding the existence of a conflict of interest matter required an Executive Committee or Board vote to resolve, those concerned shall not be present at the time of the vote. The VP for Finance & Planning collects and reviews the forms which are not Board Members or Senior Administrators. Compliance is checked in the VP's office and conflicts are resolved with the review of the President. Noncompliance is a performance issue and appropriate actions are taken. Form 990, Part VI, Section B, Line 15 The College has written Compensation Guidelines for the President of the College. The President's salary is reviewed and set annually by a compensation committee of the Board of Trustees, and a letter is sent to the V. P. for Finance and Planning with the salary information. The President's salary is documented by the Chair of the Board. The President's salary is benchmarked to that of peer colleges in the Associated Colleges of the Midwest and the Great Lakes Colleges Association. The President's salary is also reviewed with information about level of reward at other national Carnegie IIB colleges, and salary and tax form data published in The Chronicle of Higher Education. These procedures were undertaken in our fiscal year which was June 1, 2014 through May 31, 2015, and calendar year 2014. Line 15b: The College has written Compensation Guidelines for Officers of the College. The policy has guidelines for positions reporting to the President; those positions include all Officers (VP of Development, VP for Finance and Planning, Provost and Dean of the Faculty, Dean of Students, VP of Admissions) and some non-officers (Director of Communications and Marketing and Athletics Director). Compensation for each is benchmarked to that of peer colleges in the Associated Colleges of the Midwest and the Great Lakes Colleges Association. Information about level of reward at other national Carnegie IIB colleges is reviewed. Data published in The Chronicle of Higher Education on salaries from tax forms is also reviewed. Salary data is reviewed and set annually by the President for positions reporting to the President, which is then reviewed with the Chair and Vice Chair of the Board of Trustees. These procedures were undertaken in our fiscal year which was June 1, 2014 through May 31, 2015, and calendar year 2014. During fiscal year 2014-2015 a Compensation Task Committee was formed with advisory council from Trustee members. The Compensation Task Force Committee was charged to benchmark salaries to independent data from like institutions. Form 990, Part VI, Section C, Line 19 Documents are available upon request in the College's Business Office. Form 990, Part IX, Line 11g Subcontracted expenses for meal plan and custodial. Form 990, Part XI, Line 9 -66,939 change in split interest agreements 5,492 Change in value of beneficial interest and pledge discount amortization -393,996 Change in debt swap value -679,179 extinguishment of debt 35,698 Change in post-retirement, post-employment liability. LFC Investment Holdings LP 550 S Tryon St Suite 3500 Global Endowment Charlotte NC 28202 364797996 Investments DE Related 0 0 0 0 0 1 Charitable Remainder Trusts (4) 555 N Sheridan Rd Lake Forest IL 60045 Trust IL N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0