2016-02-10T10:17:05-07:00 2015-06-30 990 2014-07-01 540505922 LYNCHBURG COLLEGE LYNC 4345448428 1501 Lakeside Drive Lynchburg VA 24501 Steve Bright VP for Business & Finance 4345448428 2016-02-10 2014 2016-08-17 19:52:53Z Stephen Bright 1501 Lakeside Drive Lynchburg VA 24501 153708917 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 and graduate programs that reflect its commitment to teaching and learning, scholarship, and service to the broader community. 33 31 1893 0 152642 0 10604666 5936771 88332302 88289132 7614324 5918989 126001 66130 106677293 100211022 30064573 31030230 0 0 38529185 40761701 22000 0 1535254 23827106 24550535 92442864 96342466 14234429 3868556 198054007 199130526 47906206 48466510 150147801 150664016 The College offers distinctive undergraduate and graduate 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 55151930 31030230 0 Includes student instruction and scholarships. For the Fall 2014, there were 2,161 undergraduates, 575 graduates for a total enrollment of 2,736 students. 11822099 0 0 Includes auxiliary enterprises (such as dining services, student housing, campus store, and other snack bar areas). 9417193 0 0 Includes other institutional services (such as information technology, interest expense, and other allocated expenses) that support student instruction. 9676604 0 0 Includes student services which consists of enrollment services, registrar, health and counseling services, student activities, sports, and recreation. 3916469 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. 13593073 0 0 89984295 1 1 0 1 0 0 1 1 0 1 1 1 0 0 1 0 1 0 1 1 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 1 0 0 0 1 X 3756 0 1 1893 1 1 1 1 ST 0 0 0 1 1 0 0 0 0 X 33 31 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 Melanie Biermann Trustee 1 0 X 0 0 0 David C Boyle Trustee 1 0 X 0 0 0 Alan A Burgess 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 Fred R Cawthorne Trustee 1 0 X 0 0 0 Charles P Collings Trustee 1 0 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 Mary S Elcano Trustee 1 0 X 0 0 0 Pauline B Flint Trustee/Corporate Officer 1 0 X X 0 0 0 Suzanne F Flynn Trustee/Corporate Officer 1 0 X X 0 0 0 Mary H Futrell Trustee 1 0 X 0 0 0 Roger H Green Trustee 1 0 X 0 0 0 Terry H Jamerson Trustee 1 0 X 0 0 0 Yong H Kim Trustee 1 0 X 0 0 0 Jeffrey Kurzweil Trustee 1 0 X 0 0 0 Nathaniel X Marshall Trustee/Corporate Officer 1 0 X X 0 0 0 Philip G Mazzara Trustee 1 0 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 Rosel H Schewel Trustee 1 0 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 Charles B White 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 381890 0 49284 Julius A Sigler VP and Dean for Academic Affairs 65 0 X 128010 0 17723 John G Eccles VP and Dean for Student Development 60 0 X 122565 0 16252 Rita A Detweiler VP for Enrollment Management 55 0 X 122628 0 23471 Denise A McDonald VP for Advancement 70 0 X 124069 0 22746 Edward A Polloway VP for Comm Adv and Dean of Grad Studies 62 0 X 111014 0 14824 Stephen E Bright VP for Business and Finance and Treasurer 55 0 X 145209 0 23842 Sally C Selden Associate Dean for Academic Affairs 55 0 X 152473 0 11904 John C Lewis Associate VP for Business and Finance 60 0 X 126533 0 22000 A Russell Smith Director/Professor Physical Therapy 55 0 X 135059 0 21432 Atul Gupta Assistant Professor of Management 60 0 X 125590 0 20211 David Murphy Professor 40 0 X 129402 0 27395 Jeremy Welsh Director/Professor of Physician Assistant Medicine 60 0 X 130214 0 15657 1934656 0 286741 29 0 1 0 Royall & Company 1920 East Parham Road Richmond VA 232282206 Consulting 367011 Dominion Seven Architects 1000 Jefferson Street Suite 2A Lynchburg VA 24504 Architectual Services 267694 CommonFund Box 5493 Boston MA 02206 Investment Management 232343 Commworld P O Box 1158 Forest VA 24551 Cable Installation/Phone system 174766 Jamerson-Lewis Construction P O Box 10728 Lynchburg VA 24506 Construction 10861618 17 0 0 23302 0 704434 5209035 165630 5936771 Tuition and Fees 611310 71188142 71188142 0 0 Auxiliary Services 900099 14732729 14732729 0 0 Miscellaneous Income 900099 2215619 2215619 0 0 Auxiliary - External Catering 900099 152642 0 152642 0 0 0 0 0 88289132 1745815 0 0 1745815 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 57647294 3920 53469851 8189 4177443 -4269 4173174 0 0 4173174 25968 23302 19855 6113 0 6113 0 0 0 0 0 0 0 0 0 0 0 0 Change in Interest Rate Swap 900099 60017 0 0 60017 0 0 0 0 60017 100211022 88136490 152642 5985119 X 0 0 30609672 30609672 420558 420558 0 0 1566696 662994 695787 207915 0 0 0 0 29647049 26948581 1982287 716181 2136285 1945307 141925 49053 5134877 4794287 256133 84457 2276794 2021793 191251 63750 0 0 0 0 7291 7291 79291 0 79291 0 0 0 0 0 0 0 703831 0 703831 0 0 0 0 0 129114 79156 45757 4201 1164211 954635 98337 111239 533850 482221 10567 41062 0 0 0 0 3068698 2976637 61374 30687 1175909 938606 123196 114107 0 0 0 0 0 0 0 0 1346273 1346273 0 0 0 0 0 0 4657457 4657457 0 0 31107 0 31107 0 Food Purchases - Dining Services 2171748 2171748 0 0 Indirect Cost Allocations - Auxiliaries/Other 3135101 3135101 0 0 Purchases - Campus Store 985176 985176 0 0 5361478 4854093 394783 112602 96342466 89984295 4822917 1535254 23600 25500 6619578 5009982 4629636 3607435 2480723 1990369 0 0 0 0 1768580 1753485 639497 614804 542563 652537 140222634 57758235 77986112 82464399 80572418 77527748 22267679 25000819 0 0 0 0 523621 483448 198054007 199130526 6419031 5600808 0 0 2440752 2911177 35139781 35824710 0 0 0 0 1313780 1674155 0 0 2592862 2455660 47906206 48466510 X 61204599 61463438 50124110 47910483 38819092 41290095 150147801 150664016 198054007 199130526 X 3868556 -3128245 0 0 0 -224096 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 3506 3506 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 the schools, students and their families at the Virginia Assembly, in Congress, and before agencies, boards and commissions. CICV estimates that 11.71% of the 14-15 dues ($29,939) was used for lobbying. X 1 470 0 0 0 1 1 0 0 1 0 0 0 0 X X X X 0 97523495 2784724 1944033 1880525 1705750 0 98665977 81142194 5863447 13511478 1653868 1339756 0 97523495 74636284 736267 8666032 1469216 1427173 0 81142194 79008989 1583137 -3158653 1420685 1376504 0 74636284 67588783 1346038 12154581 892640 1187773 0 79008989 0.19 0.4 0.41 1 0 0 2680879 2680879 0 111161751 43259745 67902006 0 12955 2591 10364 0 16103835 10900312 5203523 0 10263214 3595587 6667627 82464399 Hedge Funds 11518696 F Commodities 939209 F Private Capital 5023274 F Distressed Debt 369423 F Real Estate 3596089 F Natural Resources 2148613 F TIPS 1405515 F 25000819 0 Interest rate swap agreement liability 1553197 US Government grants refundable 902463 2455660 65118506 -3128246 0 0 -31254326 -34382572 99501078 703831 6113 709944 100211022 64602291 0 0 0 -6114 -6114 64608405 703831 31030230 31734061 96342466 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 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. The gift of the farm was substantiated by a real estate appraisal report and recorded as an asset to 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 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, and numerous works by other American and European artists. 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 the interdisciplinary affiliation of the visual arts with diverse academic disciplines. 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 whish 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 ($31,030,230) and Change in value of Split Interest Agreements ($224,096). 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 publicized 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, sex, 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 2014-15 fiscal year. These awards were received from the US Department of Education. 1 Central America and the Caribbean 1 4 Program Services St. Lucia campus expenses 302036 Central America and the Caribbean 0 0 Program Services Travel to St. Lucia for clinical internships 9860 Central America and the Caribbean 0 0 Program Services Professional Development/Travel 727 Central America and the Caribbean 0 0 Program Services Study Abroad 614 North America (including Canada and Mexico, but not the United States) 0 0 Program Services Study Abroad 2460 North America (including Canada and Mexico, but not the United States) 0 0 Program Services Professional Development 612 North America (including Canada and Mexico, but not the United States) 0 0 Program Services Lecturer Honorarium/Expenses 13177 North America (including Canada and Mexico, but not the United States) 0 0 Program Services Software User License 580 South Asia 0 0 Program Services MBA Program Travel 3061 East Asia and the Pacific 0 0 Program Services Study Abroad 4894 East Asia and the Pacific 0 0 Program Services Professional Development 792 East Asia and the Pacific 0 0 Program Services Student Recruitment 563 Middle East and North Africa 0 0 Program Services Professional Development 1597 Europe (including Iceland and Greenland) 0 0 Program Services Study Abroad 3546 Europe (including Iceland and Greenland) 0 0 Program Services Professional Development 1119 Europe (including Iceland and Greenland) 0 0 Program Services Purchase of Art 1318 Europe (including Iceland and Greenland) 0 0 Program Services Study Abroad 1882 Europe (including Iceland and Greenland) 0 0 Program Services Study Abroad 1308 Europe (including Iceland and Greenland) 0 0 Program Services Student Recruitment 42000 Europe (including Iceland and Greenland) 0 0 Program Services Glass Replicas 1255 Europe (including Iceland and Greenland) 0 0 Program Services Professional Development 645 Europe (including Iceland and Greenland) 0 0 Program Services Professional Development 3679 Europe (including Iceland and Greenland) 0 0 Program Services Professional Development 2661 Europe (including Iceland and Greenland) 0 0 Program Services MBA Program/Travel 3061 Europe (including Iceland and Greenland) 0 0 Program Services Professional Development 1712 Sub-Saharan Africa 0 0 Program Services Financial Aid 2070 Central America and the Caribbean 0 0 Program Services Financial Aid 79720 East Asia and the Pacific 0 0 Program Services Financial Aid 203510 South Asia 0 0 Program Services Financial Aid 125578 South America 0 0 Program Services Financial Aid 1400 Europe (including Iceland and Greenland) 0 0 Program Services Financial Aid 8280 1 4 825717 Unfunded Financial Aid Sub-Saharan Africa 3 2070 Applied to student's tuition and fees account 0 Unfunded Financial Aid Central America and the Caribbean 4 79120 Applied to the student's tuition and fees 0 Funded Financial Aid Central America and the Caribbean 1 600 Applied to the Student's tuition and fees account 0 Unfunded Financial Aid East Asia and the Pacific 20 203010 Applied to the student's tuition and fees account 0 Funded Financial Aid East Asia and the Pacific 1 500 Applied to student's tuittion and fees account Unfunded Financial Aid South Asia 2 124828 Applied to studnet's tuition and fees account Funded Financial Aid South Asia 1 750 Applied to student's tuition and fees account 0 Unfunded Financial Aid South America 1 850 Applied to student's tuition and fees account 0 Funded Financial Aid South America 1 550 Applied to student's tuition and fees account 0 Unfunded Financial Aid Europe (including Iceland and Greenland) 1 8280 Applied to student's tuition and fees account 0 0 0 0 0 0 0 Schedule F, Part I, Line 2 Lynchburg College does not provide grants and other assistance to organizations or entities 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. Golf Tournament 20570 11890 8680 0 0 3922 0 0 0 Golf Tournament 11005 1275 9730 0 0 2870 2624 0 2069 2 17695 10137 7558 0 0 7043 0 0 1327 49270 23302 25968 0 0 13835 2624 0 3396 19855 6113 1 Non-funded Financial Aid 1821 28839240 0 Funded Financial Aid 91 1770432 0 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. Traditional-age students must be enrolled in a full-time undergraduate degree program to be considered for College academic scholarships, grants and/or need-based financial aid. With the exception of some academic scholarships, students who wish to apply for grants, loans or work-study 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 College Board's Powerfaids software to manage our financial 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 381890 0 0 0 0 0 23399 0 25885 0 431174 0 0 0 Stephen E Bright VP for Business and Finance and Treasurer 145209 0 0 0 0 0 14154 0 9688 0 169051 0 0 0 Sally C Selden Associate Dean for Academic Affairs 152473 0 0 0 0 0 11359 0 545 0 164377 0 0 0 David Murphy Professor 129402 0 0 0 0 0 10318 0 17077 0 156797 0 0 0 A Russell Smith Director/Professor Physical Therapy 135059 0 0 0 0 0 12602 0 8830 0 156491 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 substantial 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 as part of his job as President. 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 1996067 0 8837932 0 0 0 100088 0 0 0 8737844 0 2010 1 0 1 1 B 1810522 0 24308295 0 12581 0 397452 0 0 10012015 13911409 0 2014 1 0 0 1 C 1200928 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 Jamerson-Lewis Construction Trustee's husband is President of the Company 4508493 Construction 0 Sarah Bright Family Member of a College Officer 21818 Compensation paid as an emplyee of the College 0 Annette Eccles Family member of a College Officer 18824 Compensation paid as employee of the College 0 Tyler Eccles Family member of a College Officer 39515 Compensation paid as employee of the College 0 Sheila Garren Family member of a College Officer 26778 Compensation paid as employee of the College 0 Richard Pumphrey Family member of a Trustee/Corporate Officer 81396 Compensation paid as employee of the College 0 Heather Ryan-Sigler Family member of a College Officer 46457 Compensation paid as employee of the College 0 Janet Sigler Family member of a College Officer 38849 Compensation paid as employee of the College 0 Matthew Brandon Family member of a Trustee 90066 Compensation paid as employee of the College 0 X 21 128715 Avg hi/low on gift date X Travel Expenses 2 1744 FMV X Miscellaneous 10 35171 FMV 0 0 1 0 Form 990, Part V, Line 1a Includes Tax Forms 1099-MISC (138), 1099-R (51) and 1098-T (3567). 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 read over 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 990 to the IRS. 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 a conflict involving the College, 3) acknowledge by his or her signature that he or she is in compliance with the letter and 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 that topic. Should the matter not be resolved by the committee chair, the board chair, and 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 data from approximately ten (10) to fifteen (15) comparator colleges. 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 for Business and Finance. Form 990, Part IX, Line 7 For FY 2014-15, Information Technology (IT) salaries and wages were included in Line 7. On previous years' Form 990, these salaries had been included on Line 14. Form 990, Part XI, Line 9 Change in Value of Split Interest Agreements (-$224,096). Lynchburg College (St Lucia) Limited 2nd Floor Hasache Building PO Box MF 7184 Goodlands Castries ST Educational ST Lynchburg College in Virginia C 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 Schedule R, Part IV Lynchburg College in Virginia started an off-site program in St. Lucia located in the Eastern Caribbean. Lynchburg College (St. Lucia) Limited, which is the branch campus on the island, is located in rented office and classroom space near the capital city of Castries. The program offerings are designed to respond to educational needs in St. Lucia as well as other countries within the Eastern Caribbean. Specific areas of study include undergraduate programs in special education and elementary education, along with several graduate level programs. The for-profit entity or subsidiary provides a legal corporation that is recognized by the government of St. Lucia. Lynchburg College (St. Lucia) Limited includes the rental of the office and classroom space, necessary property or liability insurance for operations, employment of St. Lucia citizens as the on-site director and administrative assistant, and other miscellaneous expenses such as equipment purchases for the educational operations on the island. All of the educational activities fall under Lynchburg College in Virginia. Lynchburg College in Virginia is the sole shareholder of stock in the for-profit subsidiary, and as such controls the membership of the board and can direct financial decisions affecting the subsidiary and the College. The directors selected for the subsidiary also serve as board members of Lynchburg College in Virginia, so they represent the interests of the College. No fundraising will be undertaken by the for-profit entity, Lynchburg College (St. Lucia) Limited. Lynchburg College applied for and was approved for an extension of time to file an Exempt Organization Return per notice dated 11/9/15.