2015-05-12T07:01:23-05:00 2014-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 1650 MARKET STREET SUITE 4500 PHILADELPHIA PA 19103 990 2013-07-01 231352354 LEBANON VALLEY COLLEGE LEBA 7178676206 101 NORTH COLLEGE AVENUE ANNVILLE PA 170030501 SHAWN CURTIN VP FINANCE & ADMINISTRATION 7178676206 2015-05-08 1 JULIUS C GREEN CPA JD P00350393 2159720701 2013 2016-02-25 16:41:14Z LEWIS E THAYNE 101 NORTH COLLEGE AVENUE ANNVILLE PA 170030501 100945624 0 X WWW.LVC.EDU X 1866 PA PROVIDES EDUCATIONAL SERVICES AT THE UNDERGRADUATE AND GRADUATE LEVEL. 35 25 1776 610 388551 -69819 5156612 10949385 59008028 62602941 717813 1378942 12716198 13101824 77598651 88033092 27643091 29337346 0 0 27447009 29444505 0 0 1487045 22464113 22839158 77554213 81621009 44438 6412083 158026806 170518561 43074497 43815628 114952309 126702933 X LEBANON VALLEY COLLEGE IS A SMALL, PRIVATE, LIBERAL ARTS COLLEGE. ITS MISSION ARISES DIRECTLY FROM ITS HISTORICAL TRADITIONS AND A RELATIONSHIP WITH THE UNITED METHODIST CHURCH. THE COLLEGE'S AIM IS TO ENABLE OUR STUDENTS TO BECOME PEOPLE OF BROAD VISION, CAPABLE OF MAKING INFORMED DECISIONS, AND PREPARED FOR A LIFE OF SERVICE TO OTHERS. TO THAT END, WE SEEK TO PROVIDE AN EDUCATION THAT HELPS STUDENTS TO ACQUIRE THE KNOWLEDGE, SKILLS, ATTITUDES, AND VALUES NECESSARY TO LIVE AND WORK IN A CHANGING, DIVERSE, AND FRAGILE WORLD. THROUGH BOTH CURRICULAR AND CO-CURRICULAR ACTIVITIES WE ENDEAVOR TO ACQUAINT OUR STUDENTS WITH HUMANITY'S MOST SIGNIFICANT IDEAS AND ACCOMPLISHMENTS, TO DEVELOP THEIR ABILITIES TO THINK LOGICALLY AND COMMUNICATE CLEARLY, TO GIVE THEM PRACTICE IN PRECISE ANALYSIS AND EFFECTIVE PERFORMANCE, AND TO ENHANCE THEIR SENSITIVITY TO AND APPRECIATION OF DIFFERENCES AMONG HUMAN BEINGS. LEBANON VALLEY ASPIRES TO PURSUE THIS MISSION WITHIN A COMMUNITY IN WHICH CARING AND CONCER 0 0 72998728 29337346 62960970 LEBANON VALLEY COLLEGE, FOUNDED IN 1866, OFFERS BACHELOR'S DEGREES IN 35 MAJORS; MASTER'S DEGREES IN BUSINESS ADMINISTRATION, MUSIC EDUCATION, AND SCIENCE EDUCATION; AND A DOCTORAL DEGREE IN PHYSICAL THERAPY. LOCATED EIGHT MILES FROM HERSHEY, PENNSYLVANIA, THIS LIBERAL ARTS COLLEGE OF 1,901 TOTAL ENROLLED STUDENTS PRODUCES ALUMNI WHO ATTEND GRADUATE AND PROFESSIONAL SCHOOL AND ARE EMPLOYED BY TOP COMPANIES. MORE THAN 70% OF OUR FIRST-TIME, FULL-TIME FRESHMAN (WHO HAVE HIGH SCHOOL CLASS RANKS) GRADUATE IN THE TOP 30% OF THEIR HIGH SCHOOL CLASS & RECEIVE SCHOLARSHIPS OF UP TO HALF THEIR TUITION. 72998728 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 0 0 0 0 1 2818 0 1 1776 1 1 1 0 0 0 0 1 1 0 0 0 0 X 35 25 0 1 1 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 PA X ELEANOR LEWIS 7178676206 101 NORTH COLLEGE AVENUE ANNVILLE PA 170030501 X WESLEY T DELLINGER CHAIR 1.00 X X 0 0 0 KATHERINE J BISHOP VICE CHAIR 1.00 X X 0 0 0 GEORGE J KING ASST TREASURER 1.00 X X 0 0 0 GERET P DEPIPER SECRETARY 1.00 X X 0 0 0 KRISTEN R ANGSTADT TRUSTEE 1.00 X 0 0 0 JEANNE D ARNOLD TRUSTEE 1.00 X 0 0 0 JEFFREY BATES STUDENT TRUSTEE (BEGINNING 5/1/14) 1.00 X 520 0 0 PHILIP BENESCH FACULTY TRUSTEE (BEGINNING 5/1/14) 40.00 X 54670 0 22653 EDWARD D BREEN TRUSTEE 1.00 X 0 0 0 TERENCE C BROWN TRUSTEE 1.00 X 0 0 0 DAVID A CASS TRUSTEE (BEGINNING 5/1/14) 1.00 X 0 0 0 SUSAN M CORBETT TRUSTEE 1.00 X 0 0 0 REV ALFRED T DAY III TRUSTEE 1.00 X 0 0 0 SUSANNE HARLEY DOMBROWSKI TRUSTEE 1.00 X 0 0 0 RONALD J DRNEVICH TRUSTEE (UNTIL 5/3/14) 1.00 X 0 0 0 JAMES G GLASGOW TRUSTEE 1.00 X 0 0 0 M LOUISE HESS TRUSTEE 1.00 X 0 0 0 GREGORY J HESSINGER TRUSTEE (BEGINNING 5/1/14) 1.00 X 0 0 0 WENDIE DIMATTEO HOLSINGER TRUSTEE 1.00 X 0 0 0 MALCOLM L LAZIN TRUSTEE (UNTIL 5/3/14) 1.00 X 0 0 0 SETH MENDELSOHN TRUSTEE - ADJUNCT FACULTY 1.00 X 9000 0 0 CARROLL SKIP MISSIMER TRUSTEE 1.00 X 0 0 0 CHESTER Q MOSTELLER TRUSTEE 1.00 X 0 0 0 STEPHEN M NELSON TRUSTEE 1.00 X 0 0 0 KAT O'HARA STUDENT TRUSTEE 1.00 X 1927 0 0 LYNN G PHILLIPS TRUSTEE 1.00 X 0 0 0 MICHAEL PITTARI FACULTY TRUSTEE 40.00 X 58333 0 21022 JEFFREY W ROBBINS FACULTY TRUSTEE 40.00 X 69694 0 21121 ELLIOTT ROBINSON TRUSTEE 1.00 X 0 0 0 ELYSE E ROGERS TRUSTEE 1.00 X 0 0 0 KAREN A SCHMITT TRUSTEE 1.00 X 0 0 0 TRACEY A STOVER TRUSTEE 1.00 X 0 0 0 ALAN A SYMONETTE TRUSTEE (UNTIL 5/3/14) 1.00 X 0 0 0 RYAN H TWEEDIE TRUSTEE 1.00 X 0 0 0 ELIZABETH R UNGER TRUSTEE 1.00 X 0 0 0 ROBERT M VALDES STUDENT TRUSTEE (UNTIL 5/3/14) 1.00 X 8768 0 0 SAMUEL A WILLMAN TRUSTEE 1.00 X 0 0 0 KENNETH YARNALL FACULTY TRUSTEE 40.00 X 72898 0 21690 LEWIS E THAYNE PRESIDENT 40.00 X X 293743 0 39956 THOMAS MAHER INTERIM VP OF FINANCE (BEGINNING 8/12/13) 40.00 X 71601 0 9189 DEBORAH FULLAM VP FINANCE (UNTIL 7/31/13) 40.00 X 85922 0 16859 MARY ELIZABETH ESLER EXEC ASSISTANT (UNTIL 8/31/13) 40.00 X 88797 0 9627 KAREN FEATHER EXEC ASSISTANT (BEGINNING 9/9/13) 40.00 X 31129 0 2534 MICHAEL GREEN VP ACADEMIC AFFAIRS/DEAN OF FACULTY 40.00 X 178156 0 29710 ROBERT RILEY VP ADMIN/IT (UNTIL 1/17/14) 40.00 X 158995 0 28902 JANET WILEY MULDERRIG VP ADVANCEMENT (BEGINNING 1/14/13) 40.00 X 189475 0 17484 STAN DACKO CHAIR/ASSOCIATE PROF. PHYSICAL THERAPY 40.00 X 119668 0 27416 GREGORY KRIKORIAN VP STUDENT AFFAIRS 40.00 X 129634 0 30403 DONALD SANTOSTEFANO SR DIRECTOR FACILITIES MANAGEMENT 40.00 X 114112 0 18487 WILLIAM BROWN VP ENROLLMENT 40.00 X 118388 0 26339 1855430 0 343392 8 0 1 0 METZ CULINARY MANAGEMENT 2 WOODLAND DRIVE DALLAS PA 18612 FOOD SERVICE PROVIDER 3836761 JEM GROUP LLC 509 NORTH SECOND STREET HARRISBURG PA 17101 CONSTRUCTION SERVICES 836739 ARTHUR FUNK & SONS INC 1405 BIRCH ROAD LEBANON PA 17042 CONSTRUCTION SERVICES 633903 ROYALL & COMPANY 1920 EAST PARHAM ROAD RICHMOND VA 23229 PUBLICATIONS 434551 NCSDO 222 W SARATOGA STREET BALTIMORE MD 21201 PUBLICATIONS 427740 16 45464 2454813 8449108 1790294 10949385 STUDENT TUITION AND FEES 611600 62602941 62602941 62602941 790035 790035 53346 45622 7724 7724 7724 13312360 12723453 588907 588907 588907 17374 45464 18322 -948 -948 141425 125135 16290 16290 RESIDENCE HALLS 721000 6320792 6320792 DINING HALL 722320 5712230 5712230 ATHLETIC CAMPS & TOURNAMENTS 713990 358029 358029 687707 388551 299156 13078758 88033092 62960970 388551 13734186 70300 70300 29267046 29267046 1053946 586684 375762 91500 22215165 18768862 2649948 796355 1558956 1308316 188064 62576 2961489 2473157 372703 115629 1654949 1376597 215596 62756 154649 77325 77324 84450 84450 112720 112720 4670262 4057058 424100 189104 1546630 1501916 44714 2295489 1863313 369420 62756 1693805 1671313 22492 976521 835319 89866 51336 903069 903069 5385475 5385475 548340 548340 REPAIR/MAINTENANCE 1732629 1180471 544268 7890 BUILDING MAINTENANCE 996280 996280 LIBRARY MATERIALS 800235 800235 STUCO/CULTURAL PROGRAMS 241441 241441 697163 503677 191057 2429 81621009 72998728 7135236 1487045 4001 4000 3959220 4803840 1901707 1709602 718265 2619198 2166625 2189547 52462 59250 1332442 1094002 164527263 73115965 90798914 91411298 52418704 61088598 4674466 5539226 158026806 170518561 3744968 5231785 166890 306909 33927765 32605765 1264787 1789211 3970087 3881958 43074497 43815628 X 66208535 72196735 12719060 15864951 36024714 38641247 114952309 126702933 158026806 170518561 X 6412083 5327783 10758 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 46103144 5173448 6179402 1047090 1133328 55275576 45126214 1347586 1732280 1005251 1097685 46103144 46369916 1461762 -749106 929836 1026522 45126214 41520440 1298876 5598544 970532 1077412 46369916 36996024 1620390 4927745 955170 1068549 41520440 0.21000 0.57000 0.22000 0 0 2385811 2385811 122455207 57915857 64539350 20639981 14319655 6320326 19046264 880453 18165811 91411298 LIABILITY ON ANNUITY CONTRACTS 859326 STUDENT CREDIT BALANCES AND DEPOSITS 1272471 ADVANCES FROM FEDERAL GOVERNMENT FOR STUDENT LOANS 1750161 3881958 X 66121252 5327783 -27298938 -21971155 88092407 112720 -172035 -59315 88033092 54370628 172035 172035 54198593 112720 27309696 27422416 81621009 PART III, LINE 4: THE COLLEGE'S COLLECTION CONSISTS OF ARTWORK, RARE BOOKS, AND OTHER OBJECTS. THE COLLECTION IS HELD FOR EDUCATION, RESEARCH, AND PUBLIC EXHIBITION AND IS PROTECTED, KEPT UNENCUMBERED, CARED FOR, AND PRESERVED. PART V, LINE 4: TO SUPPORT EDUCATIONAL PROGRAMS IN ACCORDANCE WITH THE DONOR DESIGNATIONS. PART X, LINE 2: THE COLLEGE FOLLOWS THE FASB GUIDANCE THAT REQUIRES A TAX POSITION TO BE RECOGNIZED BASED ON A "MORE LIKELY THAN NOT' TO BE SUSTAINED UPON EXAMINATION THRESHOLD. THE COLLEGE DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS. THE COLLEGE'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS FOR 2012, 2011, AND 2010 REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. PART XI, LINE 2D - OTHER ADJUSTMENTS: STUDENT EDUCATIONAL GRANTS NETTED AGAINST REVENUE ON FINANCIALS -27,309,696. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE POLICY 10,758. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS FOR SALE OF INVENTORY -125,135. RENTAL EXPENSES -45,622. PORTION OF FUNDRAISING EXPENSES REPORTED AS EXPENSES PER F/S -1,278. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS FOR SALE OF INVENTORY 125,135. RENTAL EXPENSE 45,622. PORTION OF FUNDRAISING EXPENSES REPORTED AS EXPENSES PER F/S 1,278. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT EDUCATIONAL GRANTS NETTED AGAINST REVENUE ON FINANCIALS 27,309,696. 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 POLICY IS INCLUDED ON THE COLLEGE'S CATALOG, WEBSITE, PUBLICATIONS, ETC. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES VARIOUS FEDERAL GRANTS DIRECTLY FROM THE U.S. DEPARTMENT OF EDUCATION. THESE GRANTS INCLUDE SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS, COLLEGE WORK-STUDY FUNDING, AND PELL GRANTS. THE COLLEGE ALSO RECEIVES GRANTS FROM THE COMMONWEALTH OF PENNSYLVANIA. BERMUDA 0 0 INVESTMENT 821652 0 0 0 0 0 0 821652 0 821652 0 0 0 0 1 0 LVEP GOLF TOURNAMENT 50031 36460 13571 4709 3826 5593 LVC GOLF CLASSIC 12807 9004 3803 1676 1118 1400 62838 45464 17374 6385 4944 6993 18322 -948 1 ANVILLE TOWNSHIP 36 NORTH LANCASTER STREET ANNVILLE PA 17003 236003026 N/A 32900 CASH N/A UNRESTRICTED CONTRIBUTION TO SUPPORT THE TOWNSHIP ANVILLE -CLEONA SCHOOL DISCTICT 500 SOUTH WHITE OAK STREET ANNVILLE PA 17003 231602952 N/A 17800 CASH N/A UNRESTRICTED CONTRIBUTION TO SUPPORT THE SCHOOL DISTRICT UNION HOSE FIRE COMPANY 215 EAST MAIN STREET ANNVILLE PA 17003 231262911 501(C)(3) 19600 CASH N/A UNRESTRICTED CONTRIBUTION TO SUPPORT THE FIRE COMPANY OF $2,600 AND FOR THE PURCHASE OF A FIRE TRUCK, $17,000. 3 0 LVC GRANTS & SCHOLARSHIPS 1125 27200383 CASH N/A SEOG GRANTS 29 109313 CASH N/A STUDENT AWARDS 133 303848 CASH N/A PELL GRANTS 420 1567466 CASH N/A FACULTY ACADEMIC GRANTS 15 19767 CASH N/A TEACH GRANT 20 66269 CASH N/A PART I, LINE 2: ALL STUDENTS APPLYING FOR FEDERAL FUNDS ARE REQUIRED TO SUBMIT THE FREE APPLICATION FOR FEDERAL STUDENT AID ("FAFSA"). THE FINANCIAL AID OFFICE REVIEWS THE RESULTS OF THE FAFSA, WHICH DICTATES WHAT AND HOW MUCH FEDERAL FUNDING THE INDIVIDUAL STUDENT IS ELIGIBLE FOR. IF THE STUDENT IS DETERMINED TO BE IN COMPLIANCE WITH ALL FEDERAL REGULATIONS, AS DETERMINED BY THE DEPT. OF ED., THE FINANCIAL AID OFFICE AWARDS THE STUDENT THE APPROPRIATE FUNDING. STUDENT FILES REGARDING ELIGIBILITY ARE MAINTAINED BY THE FINANCIAL AID OFFICE. X X 1 1 X X X X 1 0 0 0 0 0 0 0 0 LEWIS E THAYNE PRESIDENT 293743 0 0 0 0 0 22950 0 17006 0 333699 0 0 0 MICHAEL GREEN VP ACADEMIC AFFAIRS/DEAN OF FACULTY 178156 0 0 0 0 0 16514 0 13196 0 207866 0 0 0 ROBERT RILEY VP ADMIN/IT (UNTIL 1/17/14) 158995 0 0 0 0 0 14847 0 14055 0 187897 0 0 0 JANET WILEY MULDERRIG VP ADVANCEMENT (BEGINNING 1/14/13) 189475 0 0 0 0 0 15512 0 1972 0 206959 0 0 0 GREGORY KRIKORIAN VP STUDENT AFFAIRS 129634 0 0 0 0 0 12616 0 17787 0 160037 0 0 0 PART I, LINE 1A FROM THE EMPLOYMENT AGREEMENT BETWEEN LEBANON VALLEY COLLEGE AND LEWIS E. THAYNE - "THE COLLEGE SHALL PAY OR REIMBURSE THE EXECUTIVE FOR ALL REASONABLE BUSINESS EXPENSES INCURRED BY THE EXECUTIVE (AND HIS SPOUSE WHERE THERE IS A LEGITIMATE BUSINESS REASON FOR HIS SPOUSE TO ACCOMPANY HIM) IN CONNECTION WITH THE PERFORMANCE OF HIS DUTIES AND OBLIGATIONS UNDER THIS AGREEMENT. SUCH PAYMENTS SHALL INCLUDE REASONABLE REIMBURSEMENTS FOR TICKETS, SUBSCRIPTIONS, ETC. FOR THE EXECUTIVE AND HIS SPOUSE TO WORK-RELATED FUND RAISING EVENTS IN THE COMMUNITY. THESE EXPENDITURES SHALL BE SUBJECT TO THE REVIEW AND APPROVAL OF THE CHAIR OF THE BOARD." PART I, LINE 4A AN INDIVIDUAL REPORTED ON FORM 990 PART VII RECEIVED A SEVERANCE PAYMENT DURING 2013. A ANNVILLE TOWNSHIP AUTHORITY 236003026 2004-09-17 5000000 SEE PART VI 0 0 0 B ANNVILLE TOWNSHIP AUTHORITY 236003026 2007-11-29 9028765 SEE PART VI 0 0 0 C ANNVILLE TOWNSHIP AUTHORITY 236003026 2008-05-21 5066000 SEE PART VI 0 0 0 D ANNVILLE TOWNSHIP AUTHORITY 236003026 2009-08-11 5225000 SEE PART VI 0 0 0 A 5000000 5000000 2004 1 0 1 1 B 9028765 9028765 2009 0 0 1 1 C 2059000 5066000 22240 2177760 2866000 2009 1 0 1 1 D 150000 5225000 5225000 2009 0 0 1 1 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 1 0 0 0 0 0 0 B 0 0 1 0 0 0 0 0 0 C 0 0 1 0 0 0 0 0 0 D 0 0 1 0 0 0 0 0 0 A 0 B 0 C 0 D 0 PART I, COLUMN F: PURPOSE OF BOND: A) REFUNDING OF NOTE PAYABLE OF 1997 B) CONSTRUCTION AND THE PAYMENT OF ISSUANCE COSTS C) REFUNDING OF NOTES PAYABLE OF 1999 AND 2001, CONSTRUCTION, AND PAYMENT OF ISSUANCE COSTS D) REFUNDING OF NOTES PAYABLE OF 2004, LINE OF CREDIT FOR REDEMPTION OF 1999 BONDS, AND PAYMENT OF ISSUANCE COSTS E) CONSTRUCTION, RENOVATION, IMPROVEMENT, ALTERATION, EQUIPPING, AND FURNISHING COLLEGE FACILITIES AND VARIOUS CAPITAL ADDITIONS, ACQUISITIONS, AND IMPROVEMENTS, AS WELL AS PAYMENT OF ISSUANCE COSTS. F) REFUNDING OF NOTE PAYABLE OF 2005 SCHEDULE K, PART III LINE 9, PART IV LINE 7, AND PART V THE COLLEGE HAS PROCEDURES IN PLACE TO MONITOR COMPLIANCE AND IS IN THE PROCESS OF FORMALIZING A WRITTEN POLICY. A ANNVILLE TOWNSHIP AUTHORITY 236003026 2010-11-18 5000000 SEE PART VI 0 0 0 B ANNVILLE TOWNSHIP AUTHORITY 236003026 2013-07-30 5825000 SEE PART VI 0 0 0 A 5000000 5000000 2012 0 0 1 1 B 330000 5825000 5825000 2013 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 0 1 0 0 0 0 0 0 B 0 0 1 0 0 0 0 0 0 A 0 B 0 RON DRNEVICH TRUSTEE 2190562 SEE PART V 0 WENDIE HOLSINGER TRUSTEE 1262890 SEE PART V 0 SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: RON DRNEVICH(D) DESCRIPTION OF TRANSACTION: RON DRNEVICH IS AN OFFICER OF CAPITAL BLUE CROSS, THE COLLEGE'S MEDICAL INSURANCE PROVIDER. ALL TRANSACTIONSE ARE COMPLETED ON AN ARM'S LENGTH BASIS. (A) NAME OF PERSOPN: WENDIE HOLSINGER(D) DESCRIPTION OF TRANSACTION: WENDIE HOLSINGER SERVES ON THE LEBANON DIVISION OF THE FULTON BANK ADVISORY BOARD, THE COLLEGE'S FINANCIAL INSTITUTION. ALL TRANSACTIONS ARE COMPLETED ON AN ARM'S LENGTH BASIS. INTEREST AND FEES PAID TO FULTON EQUAL $1,262,890 FOR THE YEAR ENDED 6/30/2014. X 3 5500 EXPERT OPINION X 850 EXPERT OPINION X 9 1239795 CLOSING COST X 3 538500 ORIGINAL COST X MISC ITEMS 3 19487 COST X INSTRUMENTS 2 16101 EXPERT OPINION/APPRA 2 0 1 0 PART I, COLUMN (B): TOTAL NUMBER OF CONTRIBUTIONS OR ITEMS CONTRIBUTED IN COLUMN (B) ABOVE REPRESENTS THE TOTAL NUMBER OF DONORS FORM 990, PART VI, SECTION A, LINE 3 THE COLLEGE OUTSOURCED ITS FOOD SERVICE TO METZ. THE COLLEGE ALSO OUTSOURCED ITS BOOKSTORE OPERATIONS TO BARNES AND NOBLE. FORM 990, PART VI, SECTION A, LINE 4 THE PRIMARY PURPOSE OF REVISING THE BYLAWS WAS TO CLARIFY AND SIMPLIFY THE LANGUAGE TO CONFORM TO BEST PRACTICES, AS RECOMMENDED BY THE ASSOCIATION OF GOVERNING BOARDS. THE TIMING OF ELECTING NEW TRUSTEES WAS CHANGED FROM MAY TO FEBRUARY, WITH SERVICE COMMENCING AT THE END OF THE MAY MEETING. THE DEFINITION OF A QUORUM WAS CHANGED FROM 10 TRUSTEES TO A MAJORITY OF THE REGULAR VOTING MEMBERS OF THE BOARD. THE BYLAWS EXPLICITLY PERMIT MEMBERS OF THE BOARD TO PARTICIPATE REMOTELY IN MEETINGS, AND THE BOARD OF TRUSTEES CAN ACT BY UNANIMOUS WRITTEN CONSENT, AS PERMITTED BY PENNSYLVANIA LAW. THE FACILITIES COMMITTEE AND THE STRATEGIC PLANNING COMMITTEE WERE ELIMINATED, AND THE FINANCE AND INVESTMENT COMMITTEE WAS DIVIDED INTO THE FINANCE AND ADMINISTRATION COMMITTEE AND THE INVESTMENT COMMITTEE. THE NAME OF THE TRUSTEESHIP COMMITTEE WAS CHANGED TO THE GOVERNANCE COMMITTEE, AND THE MARKETING AND ENROLLMENT COMMITTEE WAS ADDRESSED. THE STATEMENT OF NONDISCRIMINATION WAS EXPANDED TO INCLUDE DISABILITY, SEXUAL ORIENTATION, AND GENDER IDENTITY. FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE OF THE BOARD REVIEWED THE COMPLETE 990 IN DETAIL DURING THE MARCH AUDIT COMMITTEE MEETING. A FULL COPY OF THE 990 WAS POSTED ON THE COLLEGE'S PORTAL FOR THE FULL BOARD'S REVIEW PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED ANNUALLY. IN THE CASE OF THE BOARD AND SENIOR STAFF, INCLUDING THE PRESIDENT, THE GOVERNANCE COMMITTEE DEVELOPED A FORM, WHICH IS SCHEDULED TO BE COMPLETED ANNUALLY. LANGUAGE ON THE FORMS WAS MODIFIED IN 2010 TO BETTER REFLECT IRS FORM 990 DEFINITIONS / REQUIREMENTS. COMPLETED TRUSTEE FORMS ARE REVIEWED BY THE EXECUTIVE ASSISTANT TO THE PRESIDENT, AND MEMBERS OF THE GOVERNANCE COMMITTEE. MEMBERS OF THE GOVERNANCE COMMITTEE NOTE ANY RESPONSES THAT REQUIRE ATTENTION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF PRESIDENT AND VPS IS REVIEWED ANNUALLY BY COMPENSATION SUBCOMMITTEE OF BOARD TO ENSURE THAT COMPENSATION DOES NOT EXCEED FAIR MARKET VALUE. EXTERNAL BENCHMARK DATA FROM CUPA-HR IS SHARED AS A PART OF THIS REVIEW. COMPENSATION SUBCOMMITTEE MAKES THE DETERMINATION AND THE PROCESS IS NOTED IN MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE AT 101 NORTH COLLEGE AVENUE UPON REQUEST. FORM 990, PART VII THE FOLLOWING TRUSTEES ARE ALSO ON THE FACULTY OF LEBANON VALLEY COLLEGE WORKING EITHER FULLTIME, AS PART-TIME ADJUNCT PROFESSOR, OR STUDENT EMPLOYEES WORKING DURING THE ACADEMIC YEAR. COMPENSATION REPORTED ON PART VII RELATES TO THEIR EMPLOYMENT POSITIONS: - PHILIP BENESCH - MICHAEL PITTARI - JEFFREY ROBBINS - KENNETH YARNALL - SETH MENDELSOHN - JEFFREY BATES - KAT O'HARA - ROBERTO VALDES FORM 990, PART XI, LINE 9: CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE POLICY 10,758. FORM 990, PART VI, LINE 1 THE EXECUTIVE COMMITTEE IS COMPRISED OF OFFICERS OF THE BOARD, CHAIRS OF STANDING COMMITTEES, AND UP TO FOUR ADDITIONAL TRUSTEES AS APPOINTED BY THE CHAIR OF THE BOARD. ALL MEMBERS OF THE EXECUTIVE COMMITTEE MUST BE VOTING MEMBERS OF THE BOARD OF TRUSTEES. THE BYLAWS OF THE BOARD OF TRUSTEES STIPULATE THAT THE EXECUTIVE COMMITTEE HAS, AND MAY EXERCISE ALL POWERS OF THE BOARD OF TRUSTEES IN THE TRANSACTION OF THE BUSINESS OF THE COLLEGE BETWEEN MEETINGS OF THE BOARD. UNLESS SPECIFICALLY EMPOWERED BY THE BOARD, THE EXECUTIVE COMMITTEE MAY NOT TAKE ANY ACTION INCONSISTENT WITH A PRIOR ACT OF THE BOARD OF TRUSTEES, AWARD DEGREES, ALTER BYLAWS, LOCATE PERMANENT BUILDINGS IN TAX-EXEMPT PROPERTY HELD FOR COLLEGE PURPOSES, PURCHASE OR SELL, MORTGAGE OR LEASE OR OTHERWISE ACQUIRE OR DISPOSE OF REAL PROPERTY, REMOVE OR APPOINT THE PRESIDENT OF THE COLLEGE, ADOPT THE ANNUAL BUDGET, ELECT TRUSTEES OR BOARD OFFICERS, OR TAKE ANY OTHER ACTION THAT HAS BEEN RESERVED BY OR FOR THE BOARD. FORM 990, PART VI, LINE 14: SEPARATE RETENTION POLICIES ARE MAINTAINED AT THE DEPARTMENT/DIVISIONAL LEVELS. IT IS THE COLLEGE'S GOAL TO CONSOLIDATE THESE POLICIES AND DEVELOP AN INSTITUTIONAL WIDE RETENTION POLICY. VALE LLC 101 NORTH COLLEGE AVENUE ANNVILLE PA 170030501 463835416 MUSIC PRODUCTION PA 3484 1558 LEBANON VALLEY COLLEGE LEBANON VALLEY COLLEGE PHYSICAL THERAPY & SPORTS REHABILITATION CLINIC 101 NORTH COLLEGE AVENUE ANNVILLE PA 170030501 464917810 PHYSICAL THERAPY AND SPORTS REHABILIATION PA 0 -3409 LEBANON VALLEY COLLEGE