2015-01-12T08:30:28-06:00 2014-05-31 420714325 MCGLADREY LLP 230 N ELM ST STE 1100 GREENSBORO NC 27401 990 2013-06-01 560556753 LENOIR-RHYNE UNIVERSITY LENO 8283287100 PO BOX 7164 HICKORY NC 28603 WAYNE B POWELL PRESIDENT 8283287100 2014-12-18 ADRIENNE MCKINNEY P00819656 3362724551 2013 2016-03-07 17:11:31Z WAYNE B POWELL PO BOX 7164 HICKORY NC 28603 79040028 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 1126 150 -43808 -45896 8113809 8344296 49929140 50965017 2961260 3926041 312518 684411 61316727 63919765 20427848 20777888 0 0 20148500 21181880 35331 21140 1741556 18604436 19759505 59216115 61740413 2100612 2179352 174420190 181502901 30432837 29274690 143987353 152228211 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 35803393 20108941 39942761 PROVIDE EDUCATIONAL PROGRAMS AND CONFER UNDERGRADUATE DEGREES IN APPROXIMATELY SIXTY ACADEMIC PROGRAMS OF STUDY. 1441100 668947 3408366 PROVIDE EDUCATIONAL PROGRAMS AND CONFER MASTERS LEVEL GRADUATE DEGREES IN COUNSELING, ATHLETIC TRAINING, BUSINESS, AND OCCUPATIONAL THERAPY. 5098954 7613890 PROVIDE STUDENT LIFE PROGRAMS TO RESIDENTIAL AND COMMUTER STUDENTS AS PART OF THEIR ACADEMIC EXPERIENCES AT THE UNIVERSITY. 42343447 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 1 206 0 1 1126 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 0 1 1 1 1 0 1 1 0 NC SC X WAYNE B POWELL 8283287334 643 8TH AVENUE NE HICKORY NC 28601 X DR WAYNE B POWELL PRESIDENT 40.00 X X 294752 0 29246 JEROME W BOLICK TRUSTEE - TREASURER 1.00 X X 0 0 0 REVDR LEONARD H BOLICK TRUSTEE 1.00 X 0 0 0 JEFFREY P BRONNENBERG TRUSTEE 1.00 X 0 0 0 DR KI-HYUN CHUN TRUSTEE 1.00 X 0 0 0 DUANE A DASSOW TRUSTEE 1.00 X 0 0 0 ALAN P DAVIS TRUSTEE 1.00 X 0 0 0 BOYD L GEORGE TRUSTEE - CHAIR 1.00 X X 0 0 0 JANE C HANDLY TRUSTEE 1.00 X 0 0 0 MICHAEL W HINSHAW TRUSTEE 1.00 X 0 0 0 REV G SCOTT HOMESLEY TRUSTEE 1.00 X 0 0 0 STEVE O HUNT TRUSTEE 1.00 X 0 0 0 MARGARET H JACKSON TRUSTEE - SECRETARY 1.00 X 0 0 0 REV DAVID R KECK JR TRUSTEE 1.00 X 0 0 0 DEWYONE KING 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 GEORGE A MORETZ TRUSTEE 1.00 X 0 0 0 KATHERINE F MCKENZIE TRUSTEE - VICE CHAIR 1.00 X X 0 0 0 C CLIFF RITCHIE TRUSTEE 1.00 X 0 0 0 REV G STEVE PLONK TRUSTEE 1.00 X 0 0 0 REV TIMOTHY M SMITH TRUSTEE 1.00 X 0 0 0 SYBIL B STEWART TRUSTEE 1.00 X X 0 0 0 PHILLIP E STEPHENS TRUSTEE - ASST SECRETARY 1.00 X 0 0 0 REV PAUL H SUMMER 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 REV DR WILLIAM B TREXLER TRUSTEE 1.00 X 0 0 0 TONY W WOLFE TRUSTEE 1.00 X 0 0 0 REV D RHODES WOOLLY TRUSTEE 1.00 X 0 0 0 KATHRYN FISHER DEAN OF STUDENTS 40.00 X 84859 0 5787 LARRY M HALL PROVOST 40.00 X 145380 0 16731 PETER K KENDALL VP OF FINANCE 40.00 X 143628 0 16700 RACHEL NICHOLS VP ENROLLMENT MANAGEMENT 40.00 X 108554 0 19538 DREW VANHORN VP INST. ADVANCEMENT 40.00 X 129654 0 19644 PAUL S SHUMAKER CONTROLLER 40.00 X 84079 0 15095 CLAY J SCHMIDT PROVOST-SCH THEOL 40.00 X 121447 0 19211 NEILL R MCGEACHY ATHLETIC DIRECTOR 40.00 X 163182 0 12715 1275535 0 154667 7 0 1 0 DAVID E LOOPER & CO PO BOX 3224 HICKORY NC 28603 CONSTRUCTION NEEDS 1142487 ARAMARK CAMPUS SERVICES LR BOX 7476 HICKORY NC 28603 FOOD SERVICE 849846 ARAMARK FACILITY SERVICES 1255 CRESCENT GREEN DRIVE STE 21 CARY NC 27518 MAINTENANCE & HOUSEKEEPING 766888 ELLUCIAN COMPANY LP 4 COUNTRY VIEW ROAD MALVERN PA 19355 INFORMATION TECH CONSULTING 410752 ACFEA TOUR CONSULTANTS 110 3RD AVE N STE 202 EDMONDS WA 98020 GROUP TRAVEL NEEDS 183857 6 826927 7517369 1136802 8344296 TUITION AND FEES 611710 43859190 43859190 AUXILIARY SERVICES 611710 7105827 7105827 50965017 3424115 -44634 3468749 160744 51305 109439 109439 109439 15570884 15041009 27949 529875 -27949 501926 501926 MISCELLANEOUS 611710 574972 826 574146 574972 63919765 50965017 -43808 4654260 20777888 20777888 1107844 585274 475487 47083 15810538 8352707 6785883 671948 764195 403725 327992 32478 2261599 1194803 970678 96118 1237704 653879 531223 52602 3825163 2020834 1641760 162569 26803 14160 11504 1139 125870 66498 54023 5349 21140 21140 141859 141859 1436529 758919 616558 61052 245468 129681 105355 10432 654338 345687 280842 27809 1460159 771402 626700 62057 2215 1170 951 94 29501 15585 12662 1254 1690738 893217 725665 71856 582224 307588 249891 24745 3730712 1970935 1601222 158555 529018 279480 227055 22483 UTILITIES 1895378 1001328 813496 80554 OTHERS 1443538 773789 621960 47789 REPAIRS/SERVICE AGREEME 1023910 540932 439462 43516 BAD DEBTS 558589 295103 239746 23740 357493 188863 153436 15194 61740413 42343447 17655410 1741556 11770 4720 17996431 15540389 9339537 4305136 1355258 1612524 1525599 1463971 12213 8823 625175 719057 100794218 40861232 57964662 59932986 54787996 62337061 25848882 29236031 4952667 6342203 174420190 181502901 3029773 3580546 796145 750278 14295000 13595000 157315 157391 7961569 7452559 748068 540761 3444967 3198155 30432837 29274690 X 34016309 34691321 34364220 40743833 75606824 76793057 143987353 152228211 174420190 181502901 X 2179352 5636102 425404 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 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 47672900 3295556 4233753 1696813 626116 95757 52783523 0.03390 0.74900 0.21710 1 1 1 383344 2301555 2684899 78020715 36006937 42013778 9508762 1163988 8344774 10579842 3690307 6889535 59932986 EQUITY FUNDS 5448432 F BOND FUNDS 2072653 F HEDGE FUNDS 9246312 F LIMITED PARTNERSHIPS 10016366 F ANNUITY CONTRACTS 2452268 F 29236031 GOVERNMENT ADVANCES FOR STUDENT LOANS 1657389 INTEREST RATE SWAP 710029 ASSET RETIREMENT OBLIGATIONS 830737 3198155 X 49140778 5636102 -20339900 -14703798 63844576 141859 -66670 75189 63919765 40899920 79254 79254 40820666 141859 20777888 20919747 61740413 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 ACCOUNTING STANDARDS CODIFICATION. THE UNIVERSITY FILES A FORM 990 T IN ACCORDANCE WITH APPLICABLE U.S. FEDERAL REGULATIONS. AS SUCH, YEARS ENDING MAY 31, 2011 TO 2014 REMAIN OPEN FOR EXAMINATION BY APPLICABLE TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS EXPENSE -20,777,888. GAIN ON INTEREST RATE SWAP 214,393. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 223,595. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -51,305. NONCASH CONTRIBUTIONS 12,584. LOSS ON SALE OF FIXED ASSETS -27,949. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 51,305. LOSS ON SALE OF FIXED ASSETS 27,949. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSE 20,777,888. 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 11595000 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENT 707000 0 0 0 0 0 0 12302000 0 12302000 1 0 1 1 1 0 X X X X X 1 BLACKBAUD 2000 DANIEL ISLAND DRIVE CHARLESTON SC 29492 PROVIDES DATABASE SUPPORT 0 0 11640 -11640 VIRGINIA SYNOD ELCA PO BOX 70 SALEM VA 24153 PROVIDES GRANTWRITING SUPPORT 0 0 6000 -6000 17640 -17640 NONE NONE SCHEDULE G, PART I, LINE 2B, COLUMN (V) BLACKBAUD--IN ADDITION TO THE $11,640 PAID FOR PROFESSIONAL FUNDRAISING, THE ORGANIZATION ALSO PAID $370 FOR TRANSPORTATION. VIRGINIA SYNOD--IN ADDITION TO THE $6,000 PAID FOR PROFESSIONAL FUNDRAISING, THE ORGANIZATION ALSO PAID $1,000 IN OTHER EXPESNES. 1 SCHOLARSHIPS AND FELLOWSHIPS TO STUDENTS 1371 20777888 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 DR WAYNE B POWELL PRESIDENT 240188 0 0 0 54564 0 15000 0 14246 0 323998 0 0 0 LARRY M HALL PROVOST 144828 0 0 0 552 0 9010 0 7721 0 162111 0 0 0 PETER K KENDALL VP OF FINANCE 143076 0 0 0 552 0 8899 0 7801 0 160328 0 0 0 NEILL R MCGEACHY ATHLETIC DIRECTOR 161328 0 0 0 1854 0 7256 0 5459 0 175897 0 0 0 A LENOIR-RHYNE UNIVERSITY 560556753 65818PFR5 2008-03-13 17000000 SEE SCHEDULE O. 0 0 0 A 17000000 176240 16823760 8385345 2010 1 0 1 1 A 0 0 0 0 1 0 0 A 1 1 1 WELLS FARGO 9.000000000000 0 0 0 0 0 A 1 X 1 2500 COST X 921 FAIR MARKET VALUE X 1 50000 BOOK VALUE X 60 1060730 FAIR MARKET VALUE X FURNITURE 220 19988 FAIR MARKET VALUE X SIGNAGE 1 1400 COST X SUPPLIES 5 1263 FAIR MARKET VALUE 0 0 1 PART I, LINE 32B: FOR NONCASH CONTRIBUTIONS OF SECURITIES, THE ORGANIZATION USES A THIRD PARTY BROKER COMPANY TO SELL THESE ASSETS. 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 B HOURS PROVIDED TO RELATED ORGANIZATION: EMPLOYEE: NEILL R. MCGEACHY HOURS PER WEEK: 10 RELATED ORGANIZATION: PIEDMONT EDUCATIONAL FOUNDATION PIEDMONT EDUCATIONAL FOUNDATION, INC. PAID 42,033 OF TOTAL COMPENSATION FOR HIS SERVICES TO THAT ORGANIZATION. FORM 990, PART XI, LINE 9: NONCASH CONTRIBUTION -12,584. GAIN ON INTEREST RATE SWAP 214,393. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 223,595. 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 RENOVATION AND PURCHASE OF HOUSING FACILITIES. FOR REFINANCING OF PREVIOUS BOND ISSUE. PIEDMONT EDUCATIONAL FOUNDATION PO BOX 7164 HICKORY NC 28603 566061289 PROVIDE ATHLETIC SCHOLARSHIPS FOR LENOIR RHYNE UNIVERSITY NC 501(C)(3) LINE 11A, I N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0