2014-05-15T13:37:10-05:00 2013-06-30 Grant Thornton LLP 515 S Flower Street 7th Floor Los Angeles CA 90071 990 2012-07-01 951644026 University of La Verne % LORI GORDIEN CASE UNIV 9095933511 1950 Third Street Suite La Verne CA 917504401 AVO KECHICHIAN 9094484333 2014-05-14 true Rosemarie Brown 2136271717 2012 2015-11-30 17:44:51Z Avo Kechichian 1950 Third Street La Verne CA 917504401 181280278 false X www.laverne.edu X 1891 CA delivery of undergraduate and graduate degree programs 28 26 2268 0 7851506 6513430 150708808 171946566 1718873 1414925 1365335 1405357 161644522 181280278 37229831 43391110 0 0 69849170 72275112 0 0 3469993 41728498 48514070 148807499 164180292 12837023 17099986 249435324 269760019 118336202 117618831 131099122 152141188 X see schedule o false false 137033333 43391110 173218098 Educational services for undergraduate, graduate, law and doctoral students. Approximate number of students served: 10,835 137033333 true true false false false false false false false true true false false false true true true false true false false false false false true false false false true true true false false false false false false true false true false true false false false false true false false false true 334 0 true 2268 true false false false false false true true false false false false X 28 26 true false false false false false false true true false false true true true true false true true true false CA X X LORI GORDIEN CASE 9095933511 1950 THIRD STREET La Verne CA 917504401 Joseph Fengler 3.0 X 0 0 0 Peter Eckel 3.0 X 0 0 0 Luis Faura 3.0 X X 0 0 0 Kim J Burchiel MD 3.0 X 0 0 0 Michael A Abraham 3.0 X 0 0 0 Ann Quay Davis 3.0 X 0 0 0 Alex Espinoza 3.0 X 0 0 0 Benjamin C Harris 3.0 X 0 0 0 William Hawkins 3.0 X 0 0 0 Mark Hicks 3.0 X X 0 0 0 Wendy Lau 3.0 X 0 0 0 Richard A Lewis 3.0 X 0 0 0 Kenneth D Little 3.0 X 0 0 0 James W Long 3.0 X 0 0 0 Mary Ann Melleby 3.0 X 0 0 0 Ivan Misner 3.0 X 0 0 0 Cecilia Martinez Morris 3.0 X 0 0 0 Paul Moseley 3.0 X 0 0 0 Leslie Porras 3.0 X 0 0 0 Steven N Reenders 3.0 X 0 0 0 Valerie C Romero 3.0 X 0 0 0 Susan M Searing 3.0 X X 0 0 0 Margaret Sedenquist 3.0 X 0 0 0 David D Shively 3.0 X 0 0 0 Ray Skelton 3.0 X 0 0 0 Emmett L Terrell 3.0 X 0 0 0 Mike Bidart 3.0 X 0 0 0 Anthony LaFetra 3.0 X 0 0 0 Devorah Lieberman 40.0 X 362254 0 41996 Avo Kechichian 40.0 X 148654 0 26939 Thomas G Dewey 40.0 X 239084 0 35005 Jean Bjerke 40.0 X 174911 0 30107 Phillip Hawkey 40.0 X 258783 0 32740 Homa Shabahang 40.0 X 201222 0 27898 Clive Houston-Brown 40.0 X 183716 0 40508 Mark Goor 40.0 X 163259 0 24330 Jonathan Reed 40.0 X 163239 0 48419 Allen Easley 40.0 X 267055 0 2425 Alden Reimonenq 40.0 X 187098 0 15480 Issam Ghazzawi 40.0 X 168825 0 14527 Kenneth Held 40.0 X 165864 0 16777 Gregory Fast 40.0 X 163690 0 14105 2847654 0 371256 127 false true false Kar Construction Inc 1306 W Brooks Street ONTARIO CA 91762 General Contractor 8272028 Professional Devel Courses 4121 Avenida De La Plata OCEANSIDE CA 92506 Correspondent work 3573990 Byrom-Davey Inc 13220 Evening Creek Dr SAN DIEGO CA 92128 Contractor 2926434 Bon Appetit 1000 W Temple Street LOS ANGELES CA 900740196 Student Cafeteria 2402323 Sigmanet 4290 E Brickell Street ONTARIO CA 91761 computer staff serv. 1121921 57 151200 2617665 3744565 1797292 6513430 TUITION & FEES 611710 162704358 162704358 AUXILIARY ENTERPRISES 611710 9068621 9068621 BOOKSTORE 900099 94387 94387 TICKET SALES & EVENTS 900099 65060 65060 SPONSORED PROGRAMS 900099 14140 14140 171946566 1173771 1173771 82 82 0 0 0 0 3311810 3070738 241072 241072 241072 302952 151200 169127 133825 133825 0 0 STAFF PARKING FEES 900099 44300 44300 ALL OTHER REVENUE 900099 1227232 1227232 1271532 181280278 173218098 1548750 0 43391110 43391110 0 0 2258954 1457794 441614 359546 0 56757874 47348633 8068205 1341036 4594001 3701930 738499 153572 4515436 3480538 898293 136605 4148847 3483758 549413 115676 0 574918 33497 540921 500 77093 77093 0 0 106055 106055 16298734 10461315 5224493 612926 1472063 1160905 305285 5873 3828722 2043184 1373527 412011 3004147 704984 2291429 7734 0 5263439 3319698 1943666 75 2289929 1773332 205021 311576 0 270264 203596 55452 11216 4801833 4801833 0 6428853 6428853 2436531 1747172 689299 60 EQPT RENTAL & MAINTENANCE 669685 499397 168701 1587 LIBRARY BOOKS & MEDIA 683162 683162 ALLOWANCE FOR BAD DEBT 308642 308642 164180292 137033333 23676966 3469993 25841 24126 70596191 64931501 671836 539075 2926180 2431968 0 0 0 0 0 0 27523 55914 4393089 4691010 193538439 68390724 121408490 125147715 37636380 59602685 7047866 7857673 4701928 4478352 0 0 0 0 249435324 269760019 9814838 8658522 0 0 11335006 11555614 88460000 88460000 0 0 0 0 2716078 2297485 0 0 6010280 6647210 118336202 117618831 X 98670761 116757850 12416447 15354347 20011914 20028991 131099122 152141188 249435324 269760019 X 17099986 4336972 -394892 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 37358594 6046485 5458972 545447 342637 47975967 36628858 1570469 8889 517054 332568 37358594 29794226 890834 6707216 466588 296830 36628858 27836727 194498 3153863 455642 935220 29794226 32221043 2068751 -5702258 450849 299960 27836727 0.47000 0.33000 0.20000 false false 22596978 22596978 105228019 30257633 74970386 20880132 4780676 16099456 40592960 33261071 7331889 4240350 91344 4149006 125147715 0 ANNUITIES PAYABLE 3776578 FEDERAL STUDENT LOAN FUNDS 2870632 6647210 X 144960717 4336972 804082 5141054 139819663 41460615 41460615 181280278 123918651 1065153 1065153 122853498 41326794 41326794 164180292 Intended Uses of Endowment Funds Schedule D, Part V, Line 4 The Board Members of the university, in setting the endowment spending policy, considered the following factors: 1) preservation of asset values, 2) preservation of purchasing power, and 3) consistency of spending over time. The university's Board adopted a spending policy of 4.75% with a view toward balancing the need for expendable funds for university programs against the need to preserve the endowment against inflation. In order to achieve the objective of mainlining purchasing power, the endowment's annual rate of return must equal the annual distribution, plus inflation, plus management, custodial and administrative fees. The distribution to the university is based on a 12 quarter moving average of the market value. This spending method protects the university's distribution from the increased volatility in the markets. Distributions are provided to students for scholarships, various colleges, and programs in accordance with donor designations. The distributions are reflected in the net assets of the endowment fund. However, there is not a transfer of actual cash from the endowment fund Without requiring a liquidation of cash, this treatment allows the investments of the endowment to grow. SCHEDULE D, PART X, LINE 2 The University adopted the provisions of ASC 740 on July 1, 2007. Adoption of this provision did not have an impact on the Universitys financial statements, as management believes that there are no uncertain tax positions within its financial statements. There have been no material changes in unrecognized benefits as of June 30, 2012 or June 30, 2013, nor are any anticipated in the 12 months following June 30, 2013. There have been no related tax penalties or interest, which would be classified as tax expense in the statement of activities. Supplemental Description - Other RECONCILIATION OF REVENUE Schedule D, Part XI, Line 2d gains on lease forgiveness $804,082 Schedule D, Part XI, Line 4b student financial aid $41,326,790 fundraising net income $133,825 total $41,460,615 RECONCILIATION OF EXPENSE SCHEDULE D, PART XII, LINE 2D NET CHANGE IN ACTUARIAL OBLIGATIONS $1,065,153 SCHEDULE D, PART XII, LINE 4B STUDENT FINANCIAL AID $ 41,326,790 SCHEDULE D, PART XII, 4b DIFFERENCE OF $4 IN FINANCIAL AID IS DUE TO ROUNDING. true true true true true true true false false false false false false false false true false true Publication of Racially Nondiscriminatory Policy Schedule E, Part I, Line 3 The university customarily draws students from the local communities. The university follows a racially nondiscriminatory policy and enrolls students of racial minority groups in meaningful numbers. Government Assistance Schedule E, Part I, Line 6a University of La Verne participates in the Supplemental Educational Opportunity Grant, College Work-Study, Pell Grant, National Smart Grants, Title V Grants, National Science Foundation, Perkins Loans, Direct Loan Program and California State Department of Education Programs Dinner Gala 454152 151200 302952 4384 102189 2103 1150 59301 1 454152 151200 302952 4384 102189 2103 1150 59301 169127 133825 true Scholarships / Grants for Students 2822 43391110 Procedure for Monitoring Use of Grant Funds Inside U.S. Schedule I, Part I, Line 2 Students who receive grants from the university are determined in accordance with the university's standard policies and procedures. In summary, a student is required to complete a FAFSA to be considered for financial aid assistance. Upon completion of the FAFSA, the university is provided with the student's estimated family contributions (EFC). Based on the EFC and other criteria (i.e. enrollment status, academic standing, etc.), the Office of Financial Aid may award a student an institutional grant. There are systemic procedures in place to ensure that the grant is applied against tuition and meets the requirements of the specific grant. Student Accounts and the Office of Financial Aid are responsible for monitoring the student's financial aid status while at the university X true true X X X X X false true false false false false false false false Devorah Lieberman 310085 0 15000 0 37169 0 24996 0 17000 0 404250 0 0 0 Avo Kechichian 140550 0 0 0 8104 0 15948 0 10991 0 175593 0 0 0 Phillip Hawkey 202964 0 0 0 55819 0 24906 0 7834 0 291523 0 0 0 Thomas G Dewey 226844 0 0 0 12240 0 24480 0 10525 0 274089 0 0 0 Jean Bjerke 155528 0 0 0 19383 0 18216 0 11891 0 205018 0 0 0 Homa Shabahang 169154 0 0 0 32068 0 19974 0 7924 0 229120 0 0 0 Allen Easley 264947 0 0 0 2108 0 2084 0 341 0 269480 0 0 0 Alden Reimonenq 172400 0 0 0 14698 0 15108 0 372 0 202578 0 0 0 Issam Ghazzawi 145354 0 0 0 23471 0 8856 0 5671 0 183352 0 0 0 Kenneth Held 154521 0 0 0 11343 0 16512 0 265 0 182641 0 0 0 Clive Houston-Brown 151732 0 0 0 31984 0 17610 0 22898 0 224224 0 0 0 Gregory Fast 133788 0 0 0 29902 0 13770 0 335 0 177795 0 0 0 Mark Goor 154805 0 0 0 8454 0 16908 0 7422 0 187589 0 0 0 Jonathan Reed 146913 0 0 0 16326 0 16323 0 32096 0 211658 0 0 0 Schedule J Disclosures and Supplemental Information Travel for Companions Schedule J, Part I, Line 1a As a general policy of the university, expenses attributable to spouse travel are not reimbursable. In order to be approved, these situations must meet the bona fide business criteria approved for by the IRS Regulations and may result in taxable income to the employee. During the current year, the university paid airfare for the President's husband to accompany the President on critical University business travel. AGREEMENTS SCHEDULE J, PART I, LINE 4 TWO INDIVIDUALS LISTED IN SCHEDULE J PART II, HAVE SEVERANCE ARRANGEMENTS AS PART OF THEIR EMPLOYMENT AGREEMENT, WHICH PROVIDES FOR A SEVERANCE PAYMENT UNDER CERTAIN CIRCUMSTANCES OF ONE YEAR SALARY UPON TERMINATION OF EMPLOYMENT. NO PAYMENTS WERE MADE UNDER THIS ARRANGEMENT. THERE ARE NO CHANGE IN CONTROL PROVISIONS. Schedule J, Part II 1. The Board approved and awarded the President of the University a bonus which was based on meeting certain performance criteria. 2. For Clive Houston-Brown and Jonathan Reed, the nontaxable benefits amount includes employer-paid benefits as well as the tuition remission benefit for an eligible family member, who was enrolled as an undergraduate student. A CALIFORNIA MUNICIPAL FINANCE AUTHORITY 201563466 13048THG1 2010-11-24 69676082 univ. construction false false false B caifornia educational facilities authority 521705592 130178AQ9 2005-11-10 20570652 univ. construction false false false A 0 0 69031183 6187044 0 0 1108057 0 0 17804053 31128866 12803163 2013 true false false true B 2750000 0 21222331 1772722 0 0 403582 0 0 6063280 12844413 138333 2007 true true false true A false false false false 0.00000 0.00000 0.00000 false false false false B false false false false 0 false false false false A false true false false 0 false 0 false false B false true false false 0 false 0 false false A false B false 78952 tuition REMISSION Anna Jablonski Family member of Dean 87225 Compensation of Employment false Ankine Kechichian Family MEMBER of CFO 82726 Compensation of Employment false Michelle Kechichian Family MEMBER of CFO 65983 Compensation of Employment false Bianca Romero Family Member of Trustee 90626 Compensation of Employment false X 4 198755 Publicly listed X 1 152000 Appraisal X 1 1125000 Appraisal X Communication Cables & Various Small Eqpt 1 243799 Donor Retail Value X Miscellaneous small gifts 34 77738 Donor Retail Value 1 false true true Third Party use Schedule M, Part I, Line 32b The university may utilize organizations to liquidate non-cash contributions if it is determined that it does not want to maintain the contribution and the donor restrictions allow for such liquidation. The organization selected depends on the type of contribution received and the market in which it can be liquidated. For example, the university may utilize a property management firm to post available properties of real estate or an investment firm to sell stocks. DESCRIPTION OF ORGANIZATION MISSION FORM 990, PART III, LINE 1 IT IS THE MISSION OF THE UNIVERSITY OF LA VERNE TO PROVIDE OPPORTUNITIES FOR STUDENTS TO ACHIEVE THEIR EDUCATIONAL GOALS AND BECOME CONTRIBUTING CITIZENS TO THE GLOBAL COMMUNITY. THIS IS ACCOMPLISHED BY OFFERING HIGH QUALITY DEGREE PROGRAMS TO BOTH TRADITIONAL AGED AND ADULT LEARNERS: PROVIDING LIBERAL ARTS AND PROFESSIONAL PROGRAMS FROM UNDERGRADUATE TO DOCTORAL LEVELS, AND DELIVERING PROGRAMS TO STUDENTS AT THE CENTRAL LA VERNE CAMPUS AS WELL AS REGIONAL CAMPUSES AND SATELLITE CLASS LOCATIONS THROUGHOUT CALIFORNIA. THE UNIVERSITY PROVIDES A STUDENT-CENTERED, VALUES-BASED, AND DIVERSE LEARNING ENVIRONMENT. IT TAKES PRIDE IN OFFERING SMALL CLASS SIZES IN A HIGHLY PERSONALIZED SETTING. THE UNIVERSITY ENCOURAGES EFFECTIVE TEACHING, RESEARCH, SCHOLARLY CONTRIBUTIONS, AND SERVICE TO THE GREATER COMMUNITY BY SHARING ITS ACADEMIC, PROFESSIONAL, AND INDIVIDUAL RESOURCES. BUSINESS RELATIONSHIPS AMONG OFFICERS, DIRECTORS, TRUSTEES, KEY EMPLOYEES FORM 990, PART VI, SECTION A, LINE 2 STEVE REENDERS AND RICHARD LEWIS, BUSINESS RELATIONSHIP. FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11 THE INFORMATION/DATA FOR THE 990 IS PRIMARILY GATHERED, CALCULATED AND COMPILED BY THE DIRECTOR OF ACCOUNTING. UPON COMPLETING THESE STEPS, THE INFORMATION IS FORWARDED TO THE ASSOCIATE VICE PRESIDENT OF FINANCE FOR REVIEW AND APPROVAL. ONCE APPROVED THE INFORMATION/DATA IS SENT TO THE ACCOUNTING FIRM, GRANT THORNTON, LLP, TO PREPARE THE ACTUAL 990. ONCE COMPLETED THE 990 IS FORWARDED TO THE DIRECTOR OF ACCOUNTING TO ENSURE THAT THE INFORMATION THAT HAD BEEN ORIGINALLY PROVIDED WAS ENTERED CORRECTLY INTO THE 990. THE ASSOCIATE VICE PRESIDENT PERFORMS A REVIEW OF THE RETURN. THE 990 IS THEN FORWARDED TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES FOR REVIEW, COMMENTS, AND APPROVAL. THE FULL FILING COPY OF THE APPROVED FORM 990 IS MADE AVAILABLE TO THE FULL BOARD THROUGH POSTING ON A SECURE WEBSITE PRIOR TO FILING WITH THE IRS. Conflict of Interest Policy FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST STATEMENT IS OBTAINED ANNUALLY FROM OFFICERS, TRUSTEES AND KEY EMPLOYEES AND REVIEWED BY THE FINANCE OFFICE. RELATIONSHIPS THAT GIVE RISE TO CONFLICT ARE DISCLOSED ON THE FORM 990 (IF REQUIRED) AND ALSO REVIEWED BY MEMBERS OF THE AUDIT COMMITTEE. form 990, part vi, SECTION B LINE 13 THE ORGANIZATION IS CURRENTLY IN THE PROCESS OF DRAFTING A WHISTLEBLOWER POLICY. Process for Determining Compensation FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES ESTABLISHES THE SALARY OF THE PRESIDENT, AND THE PRESIDENT ESTABLISHES THE SALARIES FOR THE UNIVERSITY'S VICE PRESIDENTS. THE HUMAN RESOURCES DEPARTMENT REVIEWS THE UNIVERSITY'S SALARIES/COMPENSATION AND COMPARES THE INFORMATION TO BOTH NATIONAL AND LOCAL COMPARABILITY DATA TO ENSURE THAT THE UNIVERSITY'S PAY RATES ARE CONSISTENT WITH OTHER COMPARABLE INSTITUTIONS. DISCLOSURE FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE ON THE WEBPAGE OF THE FINANCE OFFICE (HTTP://SITES.LAVERNE.EDU/FINANCE/). ALSO, THE AUDITED FINANCIAL STATEMENTS ARE POSTED TO THE ELECTRONIC MUNICIPAL MARKET ACCESS WEBSITE (WWW.EMMA.MSRB.ORG). THE CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST FROM THE FINANCE OFFICE, AND IT IS ALSO AVAILABLE ON THE UNIVERSITY'S WEBSITE UNDER THE HUMAN RESOURCES PAGE. GOVERNING/ORGANIZING DOCUMENTS ARE AVAILABLE UPON REQUEST FROM THE FINANCE OFFICE. RECONCILIATION IN NET ASSETS OR FUND BALANCES FORM 990, PART XI, LINE 9 Change in Actuarial Obligations $ -1,065,153 Gain on Lease Forgiveness 804,082 Fundraising Activities -133,821 other changes in net assets or fund balance -394,892 ISSUE PRICE AND TOTAL PROCEEDS SCHEDULE K, PART I, COLUMN E, ROWS A & B THE DIFFERENCE BETWEEN THE ISSUE PRICE REPORTED IN PART I COLUMN E AND TOTAL PROCEEDS REPORTED IN PART II LINE 3 RELATES TO INVESTMENT EARNINGS ON NET PROCEEDS. DATES FOR PREVIOUS ISSUES THAT WERE REFUNDED SCHEDULE K, PART I, COLUMN F, ROWS A & B PREVIOUSLY ISSUED BONDS RETIRED 1993, 2000, 2005B AND 2008. FINAL ALLOCATION OF PROCEEDS SCHEDULE K, PART II, COLUMN A, LINE 11 THE 2005A FUNDS HAVE NOT BEEN FULLY ALLOCATED BECAUSE THE PURPOSE OF THE 2005A BOND ISSUE IS RELATIVELY LIMITED. THE UNIVERSITY WILL UTILIZE THE REMAINING BALANCE FOR THE EXPANSION OF THE WATER CHILLER TO SUPPORT THE CAMPUS. PROCEDURES TO TAKE CORRECTIVE ACTION SCHEDULE K, PARTS III and V THE UNIVERSITY HAS MANAGEMENT PRACTICES AND PROCEDURES TO ENSURE THE POST-ISSUANCE COMPLIANCE OF ITS TAX-EXEMPT BOND LIABILITIES. THE UNIVERSITY DOES NOT PRESENTLY HAVE WRITTEN PROCEDURES; HOWEVER, WRITTEN PROCEDURES ARE BEING DEVELOPED. THE UNIVERSITY BELIEVES THAT ITS MANAGEMENT PRACTICES AND PROCEDURES OPERATE TO ENSURE THAT VIOLATIONS OF FEDERAL TAX REQUIREMENTS ARE TIMELY IDENTIFIED AND IF ANY VIOLATIONS ARISE THEY WILL BE CORRECTED THROUGH THE VOLUNTARY CLOSING AGREEMENT PROGRAM IF SELF-REMEDIATION IS NOT OTHERWISE AVAILABLE UNDER APPLICABLE REGULATIONS Charitable Remainder Unitrusts (19) Fundraising CA NA trust Charitable Remainder Annuity Trust (1) Fundraising CA NA trust Net Income with Make-Up CRUT (1) Fundraising CA NA trust false false false false false false false false false false false false false false false false false false false