2014-12-08T07:13:06-06:00 2014-05-31 420714325 MCGLADREY LLP 111 ROUNDABOUT COURT ROCKY MOUNT NC 27804 990 2013-06-01 560547511 LOUISBURG COLLEGE LOUI 9194962521 501 N MAIN STREET LOUISBURG NC 27549 DR MARK D LA BRANCHE PRESIDENT 9194973226 2014-12-08 1 JAMES W MATTHEWS JR P00173928 2524460731 2013 2015-11-30 17:44:51Z DR MARK D LA BRANCHE 501 N MAIN ST LOUISBURG NC 27549 23871439 0 X HTTP://WWW.LOUISBURG.EDU/ X 1928 NC TO PROVIDE EDUCATION OPPORTUNITIES TO STUDENTS UNDER A COLLEGE DEGREE PROGRAM. 32 31 357 40 0 0 2840843 3286572 14924565 15948672 512395 929380 208757 216845 18486560 20381469 3721681 3644485 0 0 6508892 6857003 0 0 465000 7290435 8753266 17521008 19254754 965552 1126715 46790570 47921813 26886464 26353483 19904106 21568330 X (SEE CONTINUATION OF PRIMARY MISSION STATEMENT ON SCHEDULE O, PAGE 44) 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 15588749 3644485 15948672 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. 15588749 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 1 357 1 0 0 0 0 0 0 0 0 0 0 X 32 31 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 X DR MARK D LA BRANCHE 9194973207 501 N MAIN STREET LOUISBURG NC 27549 LUCY ALLEN TRUSTEE 1.00 X 0 0 0 ANNE BOWEN TRUSTEE 1.00 X 0 0 0 BRIAN WILDER TRUSTEE 1.00 X 0 0 0 DR WILLIAM JOHN CAMERON TRUSTEE 1.00 X 0 0 0 MICHAEL W BODDIE BOARD CHAIR 1.00 X 0 0 0 JOHN A ALLEN TRUSTEE 1.00 X 0 0 0 WILLIAM R CROSS TRUSTEE 1.00 X 0 0 0 DAVID DEBERRY TRUSTEE 1.00 X 0 0 0 MARLA G COLEMAN TRUSTEE 1.00 X 0 0 0 KIM SPIVEY TRUSTEE 1.00 X 0 0 0 JOHN HATCHER JR TRUSTEE 1.00 X 0 0 0 EMILY HODGES TRUSTEE 1.00 X 0 0 0 SEYMOUR HOLT TRUSTEE 1.00 X 0 0 0 LYNDA C LUMPKIN TRUSTEE 1.00 X 0 0 0 CLYDE P HARRIS JR TRUSTEE 1.00 X 0 0 0 BETH M NORRIS TRUSTEE 1.00 X 0 0 0 RUSSELL ODOM TRUSTEE 1.00 X 0 0 0 ELY J PERRY III TRUSTEE 1.00 X 0 0 0 FRED ROBERSON TRUSTEE 1.00 X 0 0 0 W BRITT COBB JR TRUSTEE 1.00 X 0 0 0 SUE C ROBERTSON TRUSTEE 1.00 X 0 0 0 JOHN F STROTMEYER TRUSTEE 1.00 X 0 0 0 C BOYD STURGES TRUSTEE 1.00 X 0 0 0 ROGER G TAYLOR TRUSTEE 1.00 X 0 0 0 JAMES P WEST TRUSTEE 1.00 X 0 0 0 WILLIAM C SHELTON TRUSTEE 1.00 X 0 0 0 JONATHAN E STROTHER TRUSTEE 1.00 X 0 0 0 BOBBIE RICHARDSON TRUSTEE 1.00 X 0 0 0 CHARLES KNIGHT TRUSTEE 1.00 X 0 0 0 DONALD PARROTT TRUSTEE 1.00 X 0 0 0 FRANKLIN T ROBERTS TRUSTEE 1.00 X 0 0 0 LYNDA W HUDSON TRUSTEE 1.00 X 0 0 0 DR MARK D LA BRANCHE PRESIDENT 40.00 X 178464 0 32250 BELINDA G FAULKNER VICE PRESIDENT OF FINANCE 40.00 X 105000 0 18304 JIM ECK VICE PRESIDENT OF ACADEMIC 40.00 X 107500 0 29707 390964 0 80261 3 0 1 0 CHARTWELLS 501 N MAIN LOUISBURG NC 27549 FOOD SERVICE 1470126 ANDRUS CONSTUCTION INC 7622 HWY 481 ENFIELD NC 27823 CONSTRUCTION 374037 BLACKBOARD PO BOX 200957 PITTSBURG PA 15251 EDUCATIONAL TECHNOLOGY 221604 ALLRED MECHNICAL SERVICES PO BOX 7663 ROCKY MOUNT NC 27804 HVAC MAINTENANCE 160274 VARROW INC PO BOX 602499 GREENSBORO NC 27408 TECHNOLOGY 154648 5 353650 2932922 53180 3286572 TUITION AND FEES 611310 9979721 9979721 AUXILIARY ENTERPRISES 611310 5968951 5968951 15948672 227403 227403 72083 0 72083 72083 72083 4191947 3489970 701977 701977 701977 OTHER INCOME 900099 138730 138730 TICKET SALES 711300 6032 6032 144762 20381469 15948672 0 1146225 3644485 3644485 471225 137207 334018 5006643 4137715 868928 404850 244470 160380 514039 422542 91497 460246 376593 83653 216925 216925 82358 82358 105106 105106 162206 9234 152972 81306 59620 21686 219103 78610 140493 954574 916599 37975 185766 168670 17096 727827 656470 71357 1188913 1188913 445598 331823 113775 FOOD SERVICES 1307669 1307669 REPAIRS/MAINTENANCE 1073630 751612 322018 SUPPLIES 546588 498173 48415 EVENT EXPENSE 303288 163767 139521 1152409 494577 192832 465000 19254754 15588749 3201005 465000 1557 1757 1973943 1566702 472248 406020 680339 623088 447378 543683 438005 411006 76107 139268 43186934 12882166 30187805 30304768 11304274 12688265 881828 903900 327086 333356 46790570 47921813 1253891 1389873 875 875 23496636 22968960 2135062 1993775 26886464 26353483 X 6968861 7198945 3076343 3969843 9858902 10399542 19904106 21568330 46790570 47921813 X 1126715 493320 44189 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 12472637 527410 1389548 377666 114521 13897408 11498112 78782 1348526 355499 97284 12472637 11755514 232349 -61626 352260 75865 11498112 10689772 429644 1142134 460562 45474 11755514 9953571 57075 1121847 394602 48119 10689772 0.03520 0.74830 0.21650 1 0 517074 517074 32647360 6565458 26081902 8934320 5742879 3191441 1088180 573829 514351 30304768 AGENCY FUNDS 273627 REFUNDABLE ADVANCES 589289 LIABLITY FOR PENSION BENEFITS 1130859 1993775 X 16185270 493320 493320 15691950 105106 4584413 4689519 20381469 15505163 0 15505163 105106 3644485 3749591 19254754 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 THE INCOME TAXES TOPIC OF THE FASB ACCOUNTING STANDARDS CODIFICATION. THE COLLEGE BELIEVES IT DOES NOT HAVE ANY FILING REQUIREMENTS FOR THE FORM 990-T AND ACCORDINGLY HAS NOT FILED A FORM 990-T. AS SUCH, ALL YEARS REMAIN OPEN FOR EXAMINATION BY APPLICABLE TAXING AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 3,644,485. INVESTMENT RETURN OVER SPENDING POLICY 939,928. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 3,644,485. PART V LINE 4 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 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 621 3596669 FMV FEDERAL AND STATE GRANTS 664 47816 FMV 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 LA BRANCHE PRESIDENT 177869 0 0 0 595 0 10296 0 21954 0 210714 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 424097 COMMERCIAL, STUDENT, ATHLETIC, AND LIABILITY INSURANCE AGENT 0 X 2 62352 MARKET VALUE X SOFTWARE 1 26700 MARKET VALUE X OTHER 8 17537 MARKET VALUE X FURNITURE 1 15000 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 THE 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 THE 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. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTEREST 156. DEFINED BENEFIT PENSION PLAN CHANGES 44,033. FORM 990 PART XII LINE 2C THE AUDIT COMMITTEE ASSUMES REPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE COLLEGE'S FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. 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