2015-05-13T13:01:16-05:00 2014-06-30 540504608 BROWN EDWARDS & COMPANY LLP 1715 PRATT DRIVE SUITE 2700 BLACKSBURG VA 24060 990 2013-07-01 540505940 RANDOLPH-MACON COLLEGE RAND 8047988372 POST OFFICE BOX 5005 ASHLAND VA 230055505 ROBERT R LINDGREN PRESIDENT 8047988372 2015-05-11 1 MARK WOOLWINE P00647446 5404433606 2013 2016-02-25 16:41:14Z ROBERT R LINDGREN POST OFFICE BOX 5005 ASHLAND VA 230055505 83898567 0 X WWW.RMC.EDU X 1830 VA SEE STATEMENT ON SCHEDULE O.RANDOLPH-MACON COLLEGE IS AN INSTITUTION OF HIGHER EDUCATION, OFFERING BACCALAUREATE DEGREES IN A LIBERAL ARTS CURRICULUM. 43 42 1119 150 336921 -3900 9413141 9973189 53754925 55158866 10780428 16747313 639541 1127283 74588035 83006651 22152597 23129933 0 0 24977413 25516748 42126 48487 2708053 17718287 19375499 64890423 68070667 9697612 14935984 233836844 262609298 53219747 58752636 180617097 203856662 X SEE STATEMENT ON SCHEDULE O.RANDOLPH-MACON IS AN UNDERGRADUATE, COEDUCATIONAL COLLEGE OF THE LIBERAL ARTS. THE PURPOSE OF A RANDOLPH-MACON EDUCATION IS TO DEVELOP THE MIND AND THE CHARACTER OF ITS STUDENTS. THEY ARE CHALLENGED TO COMMUNICATE EFFECTIVELY, TO THINK ANALYTICALLY AND CRITICALLY, TO EXPERIENCE AND APPRECIATE THE CREATIVE PROCESS, TO DEVELOP QUALITIES OF LEADERSHIP, AND TO SYNTHESIZE WHAT THEY KNOW WITH WHO THEY ARE. AT RANDOLPH-MACON COLLEGE THE LIBERAL ARTS CONSTITUTE A COMPREHENSIVE EDUCATIONAL OPPORTUNITY. THE CURRICULUM INCLUDES EXPOSURE BOTH TO BROAD PERSPECTIVES AND SPECIFIC CONCEPTS. STUDENTS EXPLORE THE NATURAL AND SOCIAL SCIENCES, THE ARTS, AND THE HUMANITIES, WHILE THEY ALSO ACHIEVE A DEEPER UNDERSTANDING OF THE SINGLE DISCIPLINE IN WHICH THEY MAJOR. THEY ARE GUIDED IN THIS ENDEAVOR BY A FACULTY OF TEACHER-SCHOLARS WHO ARE DEDICATED TO THE LIBERAL ARTS AND ACTIVE IN THEIR PROFESSIONAL DISCIPLINES AND IN THE EXTRA-CURRICULAR LIFE OF THE CAMPUS. 0 0 61938868 23129933 55802419 RANDOLPH-MACON COLLEGE IS AN INSTITUTION OF HIGHER EDUCATION PROVIDING A FOUR YEAR LIBERAL ARTS CURRICULUM TO APPROXIMATELY 1,300 STUDENTS. 61938868 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 1 1 1 1 0 0 0 0 0 0 0 1 99 0 1 1119 1 1 1 0 0 0 0 0 0 0 0 0 X 43 42 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X PAUL T DAVIES VP OF ADMINISTRAT 8047527241 310 N CENTER ST ASHLAND VA 23005 YVONNE W BRANDON EDD TRUSTEE 1.00 X 0 0 0 L PRESTON BRYANT JR THE HON TRUSTEE 1.00 X 0 0 0 J W WHITING CHISMAN JR TRUSTEE 1.00 X 0 0 0 RALPH R CROSBY JR TRUSTEE 1.00 X 0 0 0 WILLIAM A DAVIS JR TRUSTEE 1.00 X 0 0 0 SANJAY TANDON TRUSTEE 1.00 X 0 0 0 ROBIN ANNE FLOYD SECRETARY 1.00 X X 0 0 0 CYNTHIA H LEE TRUSTEE 1.00 X 0 0 0 TIMOTHY P O'BRIEN TRUSTEE 1.00 X 0 0 0 SUSAN D SCHICK TRUSTEE 1.00 X 0 0 0 MICHAEL A JESSEE PHD TRUSTEE 1.00 X 0 0 0 WILLIAM B KILDUFF ESQ TRUSTEE 1.00 X 0 0 0 FRANK E LAUGHON JR TRUSTEE 1.00 X 0 0 0 ROBERT R LINDGREN ESQ PRESIDENT 40.00 X X 627684 0 125925 STEPHEN P LONG MD TRUSTEE 1.00 X 0 0 0 ANDREW K MALONEY ESQ TRUSTEE 1.00 X 0 0 0 DAVID L MEYER TRUSTEE 1.00 X 0 0 0 FRANK J MURPHY III TRUSTEE 1.00 X 0 0 0 ALLISON M O'BRIEN TRUSTEE 1.00 X 0 0 0 MARK V OGREN REV TRUSTEE 1.00 X 0 0 0 STEVEN M PARKER TRUSTEE 1.00 X 0 0 0 HAWOOD A PAYNE JR VICE CHAIR 1.00 X X 0 0 0 DONALD E PERRY TRUSTEE 1.00 X 0 0 0 ALAN B RASHKIND ESQ CHAIRMAN 2.00 X X 0 0 0 DIANNE L REYNOLDS-CANE MD TRUSTEE 1.00 X 0 0 0 BENJAMIN S SCHAPIRO TRUSTEE 1.00 X 0 0 0 LEE B SPENCER JR ESQ TRUSTEE 1.00 X 0 0 0 SAMUEL E VICHNESS PHD TRUSTEE 1.00 X 0 0 0 R DOUGLAS WHITE TRUSTEE 1.00 X 0 0 0 CHARLES W WORNOM TRUSTEE 1.00 X 0 0 0 DAVID E YAWARS TRUSTEE 1.00 X 0 0 0 JAN M CARTER MD TRUSTEE 1.00 X 0 0 0 YOUNG JIN CHO BISHOP TRUSTEE 1.00 X 0 0 0 J PETER CLEMENTS TRUSTEE 1.00 X 0 0 0 DAVID G MELESKI TRUSTEE 1.00 X 0 0 0 WESLEY A NICHOLS TRUSTEE 1.00 X 0 0 0 HAROLD E STARKE JR ESQ TRUSTEE 1.00 X 0 0 0 MALINDA E DUNN TRUSTEE 1.00 X 0 0 0 F GILLIS GREEN TRUSTEE 1.00 X 0 0 0 R EARL JOHNSON TRUSTEE 1.00 X 0 0 0 DONNA F KLEPPER TRUSTEE 1.00 X 0 0 0 AINSLIE M ROSE TRUSTEE 1.00 X 0 0 0 LINWOOD A STAUB TRUSTEE 1.00 X 0 0 0 CHARLES W STEGER TRUSTEE 1.00 X 0 0 0 JOHN C CONKRIGHT EXEC ASST TO PRESIDENT & A 40.00 X 113600 0 18362 PAUL T DAVIES VP ADMIN & FINANCE, TREASU 40.00 X 154796 0 41312 DIANE M LOWDER VP ADVANCEMENT 40.00 X 154572 0 38496 WILLIAM T FRANZ PROVOST 40.00 X 153572 0 22582 DAVID L LESESNE VP ENROLLMENT 40.00 X 148625 0 25296 M THOMAS INGE FACULTY 40.00 X 132473 0 20211 THEODORE F SHECKELS JR FACULTY 40.00 X 117765 0 9406 GRANT AZDELL FACULTY 40.00 X 112001 0 22271 SERGE HP SCHREINER FACULTY 40.00 X 104719 0 9417 1819807 0 333278 13 0 1 0 ENGLISH CONSTRUCTION COMPANY INC PO BOX P-7000 LYNCHBURG VA 24505 CONSTRUCTION SERVICES 11093694 KJELLSTROM AND LEE INC 1607 OWNBY LANE RICHMOND VA 23220 CONSTRUCTION SERVICES 4098030 CHARTWELLS PO BOX 91337 CHICAGO IL 606931337 FOOD SERVICES 3538310 RIDDLEBERGER BROTHERS INC 6127 S VALLEY PIKE MT CRAWFORD VA 22841 HVAC SERVICES 385310 BCWH ARCHITECTS 1840 WEST BROAD ST STE 400 RICHMOND VA 23220 ARCHITECTURAL SERVICES 303145 29 597342 9375847 1499500 9973189 TUITION AND FEES 611310 44404833 44404833 AUXILIARY SERVICES 611310 10754033 10754033 55158866 2160160 13827 2146333 181219 20583 160636 160636 160636 14587153 0 14587153 14587153 14587153 925099 871333 53766 8275 45491 MISCELLANEOUS PROGRAMS 900099 635278 635278 SUMMER PROGRAM 900099 172511 172511 LANGUAGE ACADEMY 900099 105092 105092 912881 83006651 55802419 336921 16894122 23129933 23129933 1121454 407048 385811 328595 18835360 16703164 887598 1244598 1397137 1239375 64905 92857 2792560 2462595 145461 184504 1370237 1215513 63655 91069 41752 41752 82933 82933 2346 2346 48487 48487 850430 850430 257782 213490 34871 9421 812837 784458 14076 14303 2775788 2289287 171659 314842 839832 820131 9801 9900 2654617 2559090 28602 66925 325275 250404 6030 68841 952594 688265 158687 105642 924275 894196 30000 79 2975790 2815099 79049 81642 300868 300868 STUDENT FOOD SERVICE 3273078 3273078 INTERCOLLEGIATE ATHLETI 1241007 1241507 -500 POST RETIREMENT BENEFIT 429605 381094 19958 28553 LIBRARY AND LIBRARY SER 414145 414145 220545 156996 45754 17795 68070667 61938868 3423746 2708053 9402503 3957909 3122856 3367848 6901594 6725174 2112778 2015313 4424432 4206281 267126 260726 136264836 47204507 74813867 89060329 91016072 101573629 38999243 48539932 2776373 2902157 233836844 262609298 5866620 6161140 2095956 2312419 29560000 33055000 47196 1408567 660000 626702 14989975 15188808 53219747 58752636 X 101229035 110310608 32093978 42392498 47294084 51153556 180617097 203856662 233836844 262609298 X 14935984 8268752 34829 X 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 2346 2346 0 PART II-B, LINE 1: THE COLLEGE IS A MEMBER OF THE COUNCIL OF INDEPENDENT COLLEGES IN VIRGINIA (CICV), AN ASSOCIATION OF 28 INDEPENDENT COLLEGES AND UNIVERSITIES. CICV WORKS TO PROMOTE THE INTERESTS OF NON-PROFIT, INDEPENDENT HIGHER EDUCATION IN VIRGINIA. CICV WORKED TO INITIATE AND CONTINUES TO PROMOTE THE STATE'S NON-NEED BASED TUITION ASSISTANCE PROGRAM FOR VIRGINIA STUDENTS ATTENDING A PRIVATE INSTITUTION. ADDITIONALLY, CICV MONITORS LEGISLATIVE AND REGULATORY ACTIONS WHICH AFFECT THE MEMBERSHIP BY A PRESENCE DURING THE GENERAL ASSEMBLY SESSIONS TO REVIEW PROPOSED LEGISLATION AND INTERACT WITH VARIOUS ADMINISTRATIVE AGENCIES. CICV IS ENGAGED IN PROMOTING THE AWARENESS OF VIRGINIA'S INDEPENDENT COLLEGES TO POTENTIAL STUDENTS THROUGH PUBLICATIONS AND BY SPONSORING VA PRIVATE COLLEGE WEEK. CICV ALSO PROVIDES ANALYZED DATA TO MEMBER INSTITUTIONS AND APPROPRIATE STATE AGENCIES TO PROMOTE VENTURES WHERE EFFICIENCIES CAN BE ACHIEVED BY THE PARTICIPATION OF A GROUP OF INSTITUTIONS. THE COLLEGE PAYS A MEMBERSHIP FEE BASED UPON STUDENT POPULATION. FOR THE YEAR ENDED JUNE 30, 2014, CICV EXPENDED APPROXIMATELY 12.8% OF THE MEMBERSHIP FEE FOR LOBBYING ACTIVITIES. THE COLLEGE IS A MEMBER OF THE NATIONAL ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES (NAICU). NAICU SERVES AS THE UNIFIED NATIONAL VOICE OF INDEPENDENT HIGHER EDUCATION. SINCE 1976, THE ASSOCIATION HAS REPRESENTED PRIVATE COLLEGES AND UNIVERSITIES ON POLICY ISSUES WITH THE FEDERAL GOVERNMENT, SUCH AS THOSE AFFECTING STUDENT AID, TAXATION, AND GOVERNMENT REGULATION. THE NAICU STAFF MEETS WITH POLICYMAKERS, TRACKS CAMPUS TRENDS, CONDUCTS RESEARCH, ANALYZES HIGHER EDUCATION ISSUES, PUBLISHES INFORMATION, HELPS COORDINATE STATE-LEVEL ACTIVITIES, AND ADVISES MEMBERS OF LEGISLATIVE AND REGULATORY DEVELOPMENTS WITH POTENTIAL IMPACT ON THEIR INSTITUTIONS. NAICU SPEARHEADED INITIATIVES INCLUDE THE STUDENT AID ALLIANCE, AN EFFORT TO ENHANCE FUNDING FOR EXISTING STUDENT AID PROGRAMS, AND THE NONPARTISAN NATIONAL CAMPUS VOTER REGISTRATION PROJECT. NAICU'S 1,000 MEMBERS NATIONWIDE REFLECT THE DIVERSITY OF PRIVATE, NONPROFIT HIGHER EDUCATION IN THE UNITED STATES. MEMBERS INCLUDE TRADITIONAL LIBERAL ARTS COLLEGES, MAJOR RESEARCH UNIVERSITIES, CHURCH- AND FAITH-RELATED INSTITUTIONS, HISTORICALLY BLACK COLLEGES AND UNIVERSITIES, WOMEN'S COLLEGES, PERFORMING AND VISUAL ARTS INSTITUTIONS, TWO-YEAR COLLEGES, AND SCHOOLS OF LAW, MEDICINE, ENGINEERING, BUSINESS, AND OTHER PROFESSIONS. NAICU IS COMMITTED TO CELEBRATING AND PROTECTING THIS DIVERSITY OF THE NATION'S PRIVATE COLLEGES AND UNIVERSITIES. FOR THE YEAR ENDED JUNE 30, 2014, NAICU EXPENDED APPROXIMATELY 7% OF THE MEMBERSHIP FEE FOR LOBBYING ACTIVITIES. 1506320 X X X 0 129759886 2842287 24073626 2051760 5072160 -381936 149933815 118586298 2977348 14491352 1282876 4852137 160099 129759886 120318665 3673013 1445389 1259119 5556471 35179 118586298 103125070 1986950 22427480 1255518 5526873 438444 120318665 96099380 1289142 13515077 1288186 4035581 2454762 103125070 0.47440 0.32300 0.20260 1 0 4390651 4390651 98603143 33031022 65572121 308834 60480 248354 18365753 14113005 4252748 14596455 14596455 89060329 CASH AND TEMPORARY INVESTMENTS 4149973 F MARKETABLE ALTERNATIVE ASSETS 26508176 F NONMARKETABLE ALTERNATIVE ASSETS 7317916 F REAL ESTATE/MORTGAGES AND OTHER 10563867 F 48539932 ANNUITIES PAYABLE 1504929 POST RETIREMENT BENEFIT LIABILITY 10386459 REFUNDABLE LOAN PROGRAMS 2459952 INTEREST RATE SWAP AGREEMENT LIABILITY 837468 15188808 X 67792181 8268752 497141 8765893 59026288 850430 23129933 23980363 83006651 44783267 891916 891916 43891351 850430 23328886 24179316 68070667 PART III, LINE 4: RANDOLPH-MACON COLLEGE MAINTAINS A COLLECTION OF ORIGINAL ART WHICH SERVES AS A PRIMARY SOURCE FOR RESEARCH, EDUCATION AND EDIFICATION. BUILT AROUND A DONATION OF ORIENTAL ART FROM THE ESTATE OF SENATOR HUGH SCOTT, AN ALUMNUS OF THE COLLEGE, THE PRESENT COLLECTION HAS BEEN FORMED MOSTLY FROM DONATIONS TO FURTHER THE PERMANENT HOLDINGS IN ART FOR THE BENEFIT OF FACULTY AND STUDENTS. NO ASPECT OR ITEM FROM THE PERMANENT COLLECTION IS OFFERED FOR SALE OR PURCHASE; THE COLLECTION REMAINS INTACT FOR ACADEMIC STUDY. PART X, LINE 2: THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVEUNE CODE. THE FEDERAL FORM 990 OF THE COLLEGE ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: BOOK STORE COST OF GOODS SOLD NETTED AGAINST INCOME 871,333. RENTAL EXPENSES NETTED AGAINST INCOME 20,583. CHANGE IN VALUE OF INTEREST RATE SWAP 34,829. CHANGE IN POSTRETIREMENT BENEFIT OBLIGATION -429,604. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND FINANCIAL AID PAID 23,129,933. PART XII, LINE 2D - OTHER ADJUSTMENTS: BOOK STORE COST OF GOODS SOLD NETTED AGAINST INCOME 871,333. RENTAL EXPENSES NETTED AGAINST INCOME 20,583. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND FINANCIAL AID PAID 23,129,933. CHANGE IN POSTRETIREMENT BENEFIT OBLIGATION 429,604. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT -230,651. 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'S NON-DISCRIMINATORY POLICY IS STATED IN THE COLLEGE CATALOG, ADMISSIONS BROCHURES AND IN RECRUITING MATERIALS. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FEDERAL FINANCIAL AID MOST OF WHICH IS PASSED THROUGH TO STUDENTS. X X X X X X 1 GRENZEBACH GLIER & ASSOCIATES 401 N MICHIGAN AVENUE STE 2800 CHICAGO IL 60611 CAMPAIGN CONSULTATION 0 0 14614 -14614 RUFFALO CODY PO BOX 3018 CEDAR RAPIDS IA 524063018 TELEPHONE SOLICITATIONS 0 0 29873 -29873 GIGAWATT 55 E THIRD AVE SAN MATEO CA 94401 ONLINE SOLICITATION SUPPORT 0 0 4000 -4000 48487 -48487 VA 1 COLLEGE DESIGNATED (UNFUNDED) GRANTS AND SCHOLARSHIPS 1322 20989759 DONOR RESTRICTED (FUNDED) GRANTS AND SCHOLARSHIPS 248 2051760 FEDERAL SUPPLEMENTAL GRANTS 91 88414 PART I, LINE 2: ALL GRANTS REPORTED IN PART III OF SCHEDULE I ARE TO STUDENTS OF THE COLLEGE FOR FINANCIAL ASSISTANCE WITH THEIR COSTS OF ATTENDANCE. GRANTS ARE ELECTRONICALLY TRANSMITTED BY THE OFFICE OF FINANCIAL AID INTO THE ACCOUNTS RECEIVABLE SYSTEM OF THE BUSINESS OFFICE BASED UPON SYSTEM IDENTIFICATION NUMBERS FOR INDIVIDUALS. EACH STUDENT IS ABLE TO COMPARE THE AID POSTED AGAINST HIS BILLING STATEMENT FOR TUITION AND FEES TO THE AWARD LETTER HE RECEIVED FROM THE FINANCIAL AID OFFICE. ADDITIONALLY, DURING THE COLLEGE'S ANNUAL AUDIT, THIS PROCESS IS TESTED FOR ACCURACY NOT ONLY OF AMOUNTS AND ASSIGNMENT TO CORRECT INDIVIDUALS, BUT ALSO FOR ANY RESTRICTIONS OF GRANT FUNDING REGARDING AWARDEE ATTRIBUTES REQUIRED TO QUALIFY FOR ANY PARTICULAR AWARD. LINE THREE IN PART III REPORTS THE FEDERALLY FUNDED SUPPLEMENTAL GRANTS; THE COLLEGE ANNUALLY CONTRACTS FOR AN AUDIT IN ACCORDANCE WITH THE REQUIREMENTS OF OMB CIRCULAR A-133. X X X 1 1 X X X X X X 0 0 0 0 0 0 0 0 0 ROBERT R LINDGREN ESQ PRESIDENT 270661 0 350000 0 7023 0 90450 0 35475 0 753609 0 350000 0 PAUL T DAVIES VP ADMIN & FINANCE, TREASU 154022 0 0 0 774 0 29928 0 11384 0 196108 0 0 0 DIANE M LOWDER VP ADVANCEMENT 147505 0 0 0 7067 0 30702 0 7794 0 193068 0 0 0 WILLIAM T FRANZ PROVOST 152798 0 0 0 774 0 13982 0 8600 0 176154 0 0 0 DAVID L LESESNE VP ENROLLMENT 148355 0 0 0 270 0 13941 0 11355 0 173921 0 0 0 M THOMAS INGE FACULTY 128765 0 0 0 3708 0 12044 0 8167 0 152684 0 0 0 PART II, LINE 1 TOTAL ANNUAL COMPENSATION REPORTED FOR THE PRESIDENT ON THIS FORM 990 INCLUDES $350,000 OF DEFERRED COMPENSATION PAID DURING THIS REPORTING PERIOD BUT WHICH WAS EARNED AND ACCRUED, AND ALSO REPORTED INCREMENTALLY EACH YEAR OVER A SEVEN YEAR PERIOD. IT IS REPORTED THIS YEAR IN COLUMN B (II) OF SCHEDULE J BECAUSE IT HAS ONLY JUST NOW VESTED; AFTER SEVEN YEARS OF BEING ACCUMULATED BUT NOT PAID OUT, AS NOTED IN COLUMN (F), DURING THE FISCAL YEAR HEREIN REPORTED UPON, IT WAS ACTUALLY PAID TO THE PRESIDENT. HAD THE PRESIDENT NOT REMAINED IN OFFICE FOR THE FULL SEVEN YEARS, NONE OF THE $350,000 WOULD HAVE BEEN PAID TO HIM. WHILE THE AMOUNT OF THE DEFERRED COMPENSATION THAT WAS EARNED AND ACCRUED WAS BASED IN PART ON EVALUATION OF PERFORMANCE, WHICH WAS DEEMED EXCELLENT, THE DEFERRAL OF THE COMPENSATION, THAT IS, THE DELAYED PAYMENT CONTINGENT ON CONTINUATION IN OFFICE, PURSUANT TO THE TERMS OF A WRITTEN CONTRACT NEGOTIATED AT ARM'S LENGTH, WAS A DEVICE CALCULATED TO ASSURE RETENTION OF AN EXCELLENT CHIEF EXECUTIVE. BOTH THE CONCEPT OF USING LUMP SUM DEFERRED COMPENSATION TO HELP ASSURE RETENTION OF GOOD CHIEF EXECUTIVES, AND THE AMOUNT OF THE ANNUAL DEFERRED COMPENSATION WHICH WAS PROVIDED FOR IN THE WRITTEN CONTRACT OF THE PRESIDENT, ARE CONSISTENT WITH TERMS IN PRESIDENTIAL CONTRACTS OF LIKE INSTITUTIONS WITH LIKE LEADERSHIP. A INDUSTRIAL DEVELOPMENT AUTHORITY OF THE TOWN OF ASHLAND VIRGINIA 521353936 2004-12-15 4900000 RENOVATE DORMITORIES, REFURBISH GYM, UPGRADE HVAC IN GYM & ADDITIONAL DORMS 0 0 0 B ECONOMIC DEVELOPMENT AUTHORITY OF THE TOWN OF ASHLAND VIRGINIA 521353936 2011-04-01 10000000 CONSTRUCT DORMITORY, RENNOVATE HOUSE, OTHER CAPITAL IMPROVEMENTS 0 0 0 C ECONOMIC DEVELOPMENT AUTHORITY OF THE TOWN OF ASHLAND VIRGINIA 521353936 2013-02-01 10000000 REFINANCE SER. 1998 VCBA REVENUE BOND 0 0 0 D ECONOMIC DEVELOPMENT AUTHORITY OF THE TOWN OF ASHLAND VIRGINIA 521353936 2012-12-20 10000000 CONSTRUCT APARTMENT STYLE DORMITORY, ADDITIONAL FACILITIES AND CAPITAL IMPRO 0 0 0 A 4900000 118517 59895 5183020 2007 0 0 1 1 B 10000000 123450 9882353 2011 0 0 1 1 C 10000000 170000 9830000 2013 1 0 1 1 D 4555000 162004 4392997 2014 0 0 0 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 1 1 SUNTRUST BANK 10.000000000000 0 0 0 0 0 D 0 0 0 0 1 1 BB&T COMPANY 8.300000000000 0 0 0 0 0 A 0 B 0 C 0 D 0 MARK OGREN TRUSTEE 10000 MARK OGREN IS MARRIED TO MARGIE TURBYFILL, WHO PROVIDES CAREER COUNSELING TO STUDENTS IN THE PURNELL BAILEY PRE-MINISTERIAL PROGRAM ON A CONTRACTED BASIS. 0 WILLIAM F CARNE PHD FORMER TRUSTEE 76559 WILLIAM F. CARNE IS MARRIED TO LINDA CARNE WHO WAS HIRED AS A DIRECTOR FOR THE MAJOR CAREER COUNSELING PROGRAM, STARTING FEBRUARY 2012. AT THE END OF FISCAL YEAR 2012, MR. CARNE STEPPED DOWN AS TRUSTEE. LINDA CARNE'S GROSS COMPENSATION DURING FY14 WAS $42,909.WILLIAM F. CARNE IS THE FATHER OF CARA CARNE WHO WAS HIRED ON 2/7/13 BY THE DEVELOPMENT OFFICE OF COLLEGE ADVANCEMENT. CARA CARNE'S GROSS COMPENSATION DURING FY14 WAS $33,650. 0 X 1 53600 DONOR VALUE X 63 1425940 AVE HIGH/LOW AT TRANSFER X 2 19960 DONOR VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 PROCESS FOR REVIEWING 990: THE TREASURER, CONTROLLER AND PRESIDENT CONSULT TO DETERMINE THAT A DRAFT OF THE 990 FORM IS ACCURATE TO THE BEST OF THEIR KNOWLEDGE. THE DRAFT IS THEN MADE AVAILABLE TO ALL MEMBERS OF THE BOARD OF TRUSTEES (BOT) ELECTRONICALLY. CORRECTIONS, COMMENTS AND SUGGESTIONS FROM ALL MEMBERS ARE COMPILED AND, AS APPROPRIATE, INCORPORATED INTO THE RETURN, AND, BY CHARTER MANADATE, THE AUDIT COMMITTEE OF THE BOT REVIEWS THE DRAFT BEFORE FINAL FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY EACH FALL THE ASSISTANT SECRETARY TO THE BOARD OF TRUSTEES DISTRIBUTES THE CONFLICT OF INTEREST DISCLOSURE STATEMENTS TO THE TRUSTEES AND TO COVERED EMPLOYEES. HE IS RESPONSIBLE FOR ENSURING THAT ALL DISTRIBUTED STATEMENTS ARE COMPLETED AND RETURNED AND REVIEWED FOR POTENTIAL CONFLICTS. THE VICE PRESIDENT FOR FINANCE AND ADMINISTRATION REPORTS THE RESULTS OF THE QUESTIONNAIRES TO THE AUDIT COMMITTEE OF THE BOARD. THE AUDIT COMMITTEE REPORTS CONFLICTS TO THE FULL BOARD FOR APPROPRIATE RESOLUTION. FORM 990, PART VI, SECTION B, LINE 15 LINE 15A: A COMMITTEE APPOINTED BY THE CHAIR OF THE BOARD OF TRUSTEES, CHAIRED BY A MEMBER OF THE BOARD OF TRUSTEES, AND CONSISTING IN MAJORITY OF TRUSTEES, WORKED WITH AND WAS ADVISED BY A PROFESSIONAL SEARCH CONSULTANT TO SELECT AND HIRE A NEW PRESIDENT OF THE COLLEGE WHOSE CONTRACT WAS NEGOTIATED IN 2005. ANNUALLY THEREAFTER, THE PRESIDENT'S PERFORMANCE WAS EVALUATED AND HIS COMPENSATION REVIEWED BY A SPECIAL COMMITTEE OF TRUSTEES APPOINTED FOR THAT EXPRESS PURPOSE BY THE CHAIR OF THE BOARD OF TRUSTEES. THEIR DELIBERATIONS INCLUDED REVIEW OF DATA FROM THE 990S OF OTHER INSTITUTIONS AND OF SURVEYS ON PRESIDENTIAL COMPENSATION AVAILABLE THROUGH MULTIPLE SOURCES. IN EARLY 2013, DURING NEGOTIATIONS FOR A NEW CONTRACT, THIS COMPENSATION COMMITTEE DELIBERATED TERMS FOR THE COLLEGE, REFERENCING MULTIPLE COMPARABLE PRESIDENTIAL SALARY SURVEYS WITH ASSISTANCE FROM ATTORNEYS FAMILIAR WITH EXECUTIVE CONTRACTS AND FROM A COLLEGE AND UNIVERSITY PRESIDENTIAL SEARCH CONSULTANT FAMILIAR WITH CONTRACTS AND COMPENSATION. THE PRESIDENT WAS REPRESENTED BY INDEPENDENT COUNSEL, AND NEGOTIATIONS CULMINATED IN A CONTRACT RATIFIED BY THE BOARD OF TRUSTEES IN 2013. FORM 990, PART VI, SECTION C, LINE 18 UPON REQUEST FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP 34,829. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART IX, LINE 12: ADVERTISING AND PROMOTION EXPENSES INCLUDE, BUT ARE NOT LIMITED TO, THE PRINTING AND PUBLICATION OF MATERIALS TO MAKE POTENTIAL STUDENTS AWARE OF THE COLLEGE'S PROGRAMS AND OPPORTUNITIES. THIS LINE ALSO INCLUDES THE EXPENSES OF PUBLICIZING EVENTS AND ACTIVITIES SPONSORED BY ALUMNI RELATIONS, OFFICE OF ADVANCEMENT, ATHLETICS AND OTHER DEPARTMENTS ON CAMPUS TO STUDENTS, FACULTY, STAFF, ALUMNI AND THE GENERAL PUBLIC. FORM 990, PART III, LINE 1: AT RANDOLPH-MACON THE MATURATION AND TESTING OF THE SKILLS, VALUES, AND CHARACTER REQUIRED FOR A LIFETIME OF CHALLENGES EXTENDS BEYOND THE CLASSROOM. STUDENTS ARE ENCOURAGED TO MEET WITH FACULTY BOTH SOCIALLY AND INTELLECTUALLY, AND THEY HAVE THE OPPORTUNITY TO PARTICIPATE IN A VARIETY OF EXTRA-CURRICULAR ACTIVITIES. INTERACTION WITHIN THE COLLEGE COMMUNITY IS ASSURED BY RESIDENTIAL ENVIRONMENT AND AN ENROLLMENT OF APPROXIMATELY THIRTEEN HUNDRED. LOCATED IN ASHLAND, VIRGINIA RANDOLPH-MACON COLLEGE OFFERS A CURRICULUM AND A CULTURAL LIFE ENRICHED BY THE CLOSE PROXIMITY OF METROPOLITAN RICHMOND AND WASHINGTON, D.C. A RANDOLPH-MACON EDUCATION CONVEYS A SENSE OF LIFE DEFINED BY HISTORICAL CONTINUITY AND ETHICAL RESPONSIBILITY. FOUNDED BY METHODISTS IN 1830, RANDOLPH-MACON IS AN INDEPENDENT COLLEGE THAT RETAINS A RELATIONSHIP WITH THE UNITED METHODIST CHURCH. THROUGH THIS LIVING TIE THE COLLEGE DRAWS STRENGTH FROM A RELIGIOUS TRADITION THAT NURTURES CREATIVE SOCIAL CHANGE AND PERSONAL ACCOUNTABILITY. RANDOLPH-MACON BELIEVES THAT A LIBERAL ARTS EDUCATION CHALLENGES THE INTELLECT, IMAGINATION, AND CHARACTER. GRADUATES OF THE COLLEGE HAVE THE CAPACITY TO REALIZE THEIR POTENTIAL AS PROFESSIONALS, LEADERS, AND LIFELONG LEARNERS. THE COMPREHENSIVE NATURE OF A LIBERAL ARTS EDUCATION AT RANDOLPH-MACON COLLEGE PREPARES STUDENTS TO RESPOND TO THE CHANGING CAREER OPPORTUNITIES AND TO MEET LIFE'S CHALLENGES WITH CONFIDENCE, ENTHUSIASM, AND ETHICAL AWARENESS.