2014-04-15T07:06:50-05:00 2013-05-31 420714325 MCGLADREY LLP 111 ROUNDABOUT COURT ROCKY MOUNT NC 27804 990 2012-06-01 560547511 LOUISBURG COLLEGE LOUI 9194962521 501 N MAIN STREET LOUISBURG NC 27549 MARK LA BRANCHE 9194973226 2014-04-16 1 JAMES W MATTHEWS JR P00173928 2524460731 2012 2015-11-30 17:44:51Z MARK LA BRANCHE 501 N MAIN ST LOUISBURG NC 27549 23829400 0 X HTTP://WWW.LOUISBURG.EDU/ X 1928 NC TO PROVIDE EDUCATION OPPORTUNITIES TO STUDENTS UNDER A COLLEGE DEGREE PROGRAM. 28 27 358 40 0 0 3348371 2840843 13626468 14924565 601271 512395 269812 208757 17845922 18486560 4069219 3721681 0 0 6125455 6508892 0 0 417000 6136093 7290435 16330767 17521008 1515155 965552 26726672 46790570 8849900 26886464 17876772 19904106 X RELATED BY FAITH TO THE UNITED METHODIST CHURCH, LOUISBURG COLLEGE IS COMMITTED TO OFFERING A SUPPORTIVE COMMUNITY WHICH NURTURES YOUNG MEN AND WOMEN INTELLECTUALLY, CULTURALLY, SOCIALLY, PHYSICALLY, AND SPIRITUALLY. AS A TWO-YEAR RESIDENTIAL INSTITUTION, WE PROVIDE A BRIDGE FOR STUDENTS TO MAKE A SUCCESSFUL TRANSITION FROM HIGH SCHOOL TO SENIOR COLLEGES AND UNIVERSITIES. 0 0 14058825 3721681 14924565 TO PROVIDE HIGHER EDUCATION TO STUDENTS SEEKING AN ASSOCIATE'S DEGREE. THE EDUCATIONAL PROGRAM PROVIDES EDUCATION DURING TWO ACADEMIC SEMESTERS/YEAR TO NEARLY 700 STUDENTS. THE COLLEGE GRADUATES APPROXIMATELY 135 GRADUATES PER YEAR. 14058825 1 1 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 1 0 0 0 1 0 0 0 0 1 48 0 1 358 1 0 0 0 0 0 0 0 0 0 0 X 28 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 X DR MARK D LABRANCHE 9194973207 501 N MAIN STREET LOUISBURG NC 27549 LUCY ALLEN 1.00 X 0 0 0 ANNE BOWEN 1.00 X 0 0 0 BRIAN WILDER 1.00 X 0 0 0 DR WILLIAM JOHN CAMERON 1.00 X 0 0 0 MICHAEL W BODDIE 1.00 X 0 0 0 DR EDGAR J BOONE 1.00 X 0 0 0 WILLIAM R CROSS 1.00 X 0 0 0 DAVID DEBERRY 1.00 X 0 0 0 WILLIAM H DOVE 1.00 X 0 0 0 KIM SPIVEY 1.00 X 0 0 0 JOHN HATCHER JR 1.00 X 0 0 0 EMILY HODGES 1.00 X 0 0 0 SEYMOUR HOLT 1.00 X 0 0 0 LYNDA C LUMPKIN 1.00 X 0 0 0 CLYDE P HARRIS JR 1.00 X 0 0 0 BETH M NORRIS 1.00 X 0 0 0 RUSSELL ODOM 1.00 X 0 0 0 ELY J PERRY III 1.00 X 0 0 0 FRED ROBERSON 1.00 X 0 0 0 JOHN LENTZ 1.00 X 0 0 0 SUE C ROBERTSON 1.00 X 0 0 0 JOHN F STROTMEYER 1.00 X 0 0 0 C BOYD STURGES 1.00 X 0 0 0 ROGER G TAYLOR 1.00 X 0 0 0 JAMES P WEST 1.00 X 0 0 0 WILLIAM C SHELTON 1.00 X 0 0 0 JONATHAN E STROTHER 1.00 X 0 0 0 BOBBIE RICHARDSON 1.00 X 0 0 0 DR MARK D LABRANCHE 40.00 X 156569 0 32731 BELINDA G FAULKNER 40.00 X 80352 0 18560 JIM ECK 40.00 X 83263 0 23164 320184 0 74455 1 0 1 0 ATHENA HOUSING 354 COOL SPRINGS BLVD FRANKLIN TN 37067 HOUSING 1502567 CHARTWELLS PO BOX 91337 CHICAGO IL 60693 FOOD SERVICE 1416852 ANDRUS CONSTUCTION INC 7622 HWY 481 ENFIELD NC 27823 CONSTRUCTION 360880 NATIONAL MANAGEMENT RESOURCES PO BOX 1223 LAGRANGE GA 30241 HOUSEKEEPING/JANITORIAL 301289 ALLRED MECHNICAL SERVICES PO BOX 7663 ROCKY MOUNT NC 27804 HVAC MAINTENANCE 187967 5 92280 2748563 89302 2840843 TUITION AND FEES 611310 10081776 10081776 AUXILIARY ENTERPRISES 611310 4842789 4842789 14924565 242226 242226 44033 0 44033 44033 44033 5464994 148015 5255361 87479 209633 60536 270169 270169 OTHER INCOME 900099 158981 158981 TICKET SALES 711300 5743 5743 164724 18486560 14924565 0 721152 3721681 3721681 394639 106427 288212 4807073 3975265 831808 407371 219329 188042 461448 372725 88723 438361 358737 79624 218904 218904 95264 95264 200 200 92250 66130 26120 185042 71460 113582 759645 733101 26544 178535 162059 16476 256569 193595 62974 880099 880099 FOOD SERVICES 1288559 1288559 REPAIRS/MAINTENANCE 915375 560341 355034 OTHER EXPENSE 521912 137964 383948 SUPPLIES 394254 391300 2954 1503827 819853 266974 417000 17521008 14058825 3045183 417000 2411 1557 1115956 1973943 710072 472248 743072 680339 516422 447378 376615 438005 70590 76107 41881058 11693253 11559243 30187805 10408725 11304274 820144 881828 403422 327086 26726672 46790570 691217 1253891 23215 875 5597016 23496636 2538452 2135062 8849900 26886464 X 5610063 6968861 2557661 3076343 9709048 9858902 17876772 19904106 26726672 46790570 X 965552 876895 184887 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 1 92.00 1 1 1000.00 12340 X X X 0 11498112 78782 1348526 355499 97284 12472637 11755514 232349 -61626 352260 75865 11498112 10689772 429644 1142134 460562 45474 11755514 9953571 57075 1121847 394602 48119 10689772 9736561 138389 -303379 18000 9553571 0.03600 0.79000 0.17400 1 0 248574 248574 31986549 5889065 26097484 7399810 5128917 2270893 2246125 675271 1570854 30187805 AGENCY FUNDS 249172 REFUNDABLE ADVANCES 591289 LIABLITY FOR PENSION BENEFITS 1294601 2135062 X 14668741 876895 876895 13791846 95264 4599450 4694714 18486560 13704063 0 13704063 95264 3721681 3816945 17521008 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: MANAGEMENT EVALUATED THE COLLEGE'S TAX POSITIONS AND CONCLUDED THAT THE COLLEGE HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD'S (FASB) GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. WITH FEW EXCEPTIONS, THE COLLEGE IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2010. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 3,721,681. DEFICIENCY OF INVESTMENT RETURN OVER SPENDING POLICY 877,769. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 3,721,681. PART V - LINE 4 - EARNINGS FROM ENDOWMENT FUNDS ARE AVAILABLE FOR THE PURPOSE SPECIFIED IN THE DONOR'S ENDOWMENT AGREEMENT, PRIMARILY SCHOLARSHIP ALLOWANCES TO STUDENTS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 VARIOUS FINANCIAL AID AWARDS ARE RECEIVED FROM FEDERAL AND STATE AGENCIES TO ASSIST THE SCHOOL AND STUDENTS IN EDUCATIONAL OPPORTUNITIES. 1 INSTITUTIONAL SCHOLARSHIPS 2106 3669009 FMV FEDERAL AND STATE GRANTS 2106 52672 FMV PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: STUDENTS ARE REQUIRED TO COMPLETE A FAFSA. ELIGIBILITY FOR SCHOLARSHIPS IS DETERMINED BY THE APPLICABLE FEDERAL AND STATE GUIDELINES, BY THEIR ACADEMIC CREDENTIALS, AND FINANCIAL NEED. STUDENTS ARE APPROPRIATELY AWARDED SCHOLARSHIPS IN THE FINANCIAL AID OFFICE AND THE AWARDS ARE TRANSFERRED TO THE STUDENTS' ACCOUNTS IN THE BUSINESS OFFICE. ALL SCHOLARSHIP AND GRANT FUNDS ARE RECONCILED EACH SEMESTER AND REPORTED TO THE APPROPRIATE AUTHORITIES OR AGENCIES. FUNDS ARE ALSO AUDITED ANNUALLY. X 1 1 X X X 0 0 0 0 0 0 0 0 0 DR MARK D LABRANCHE 156569 0 0 0 0 0 10296 0 22435 0 189300 0 0 0 PART I, LINE 1A THE COLLEGE PROVIDES A HOUSE FOR ITS PRESIDENT AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE COLLEGE. ACCORDINGLY, SUCH LODGING IS NOT INCLUDED IN TAXABLE INCOME. EMILY HODGES TRUSTEE AND INSURANCE AGENT 304888 COMMERCIAL, STUDENT, ATHLETIC, AND LIABILITY INSURANCE AGENT 0 X 6 5600 APPRAISAL X 650 APPRAISAL X 3 83052 DAILY MARKET VALUE X SOFTWARE 1 6070 MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE TAX RETURN IS REVIEWED INTERNALLY THEN PRESENTED TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES FOR APPROVAL. THE FINAL RETURN IS PROVIDED TO ALL MEMBERS OF THE GOVERNING BODY ELECTRONICALLY PRIOR TO ITS SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C LOUISBURG COLLEGE HAS FORMED A STANDING AUDIT COMMITTEE THAT OVERSEES THE CONFLICT OF INTEREST POLICY. EACH BOARD MEMBER IS REMINDED ANNUALLY AT THE FALL BOARD MEETING THAT HE OR SHE IS TO DISCLOSE ANY INTERESTS THAT COULD GIVE RISE TO A CONFLICT. THE ORGANIZATION'S CFO WILL DISCLOSE TO THE AUDIT COMMITTEE ANY INDIVIDUAL BOARD MEMBERS WHO DO BUSINESS WITH THE INSTITUTION. FORM 990, PART VI, SECTION B, LINE 15 ALL KEY EMPLOYEES' SALARIES ARE COMPARED WITH DATA FROM SIMILAR PRIVATE COLLEGES BEFORE THE POSITION IS AUTHORIZED. LOUISBURG COLLEGE USES DATA PROVIDED BY THE NORTH CAROLINA INDEPENDENT COLLEGES AND UNIVERSITIES ORGANIZATION WHICH PROVIDES COMPARARIVE DATA BASED ON THE SIZE AND ENROLLMENT OF THE COLLEGE. FORM 990, PART VI, SECTION C, LINE 19 LOUISBURG COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANICAL STATEMENTS AVAILABLE TO THE PUBLIC IF REQUESTED. REQUESTERS MUST PRESENT THEMSELVES AT THE COLLEGE, STATE THE REASON FOR THE REQUEST, AND PAY FOR PHOTOCOPIES OF THE DOCUMENTS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTEREST 38,681. DEFINED BENEFIT PENSION PLAN CHANGES 146,206. FORM 990 PART XII LINE 2C THE BUSINESS AFFAIRS COMMITTEE ASSUMES REPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE UNIVERSITY'S FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. KENAN HALL SARE LLC 501 NORTH MAIN ST LOUISBURG NC 27549 462059052 OWN, ENCUMBER, AND SELL THE KENAN HALL DORMITORY NC 10 6351486