AVERETT UNIVERSITY: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- AVERETT UNIVERSITY (EIN 54-0129860)
- Tax period
- 2012-07-01 to 2013-06-30
- Filed
- 2014-05-09
- IRS object ID
- 201431299349302303
- Schema version
- 2012v2.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule F
- Schedule G
- Schedule I
- Schedule J
- Schedule K
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2014-05-09T14:16:51-05:00 | Timestamp |
| Tax Period End Date | 2013-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 420714325 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MCGLADREY LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 230 N ELM ST STE 1100 | AddressLine1 |
| City | GREENSBORO | City |
| State | NC | State |
| ZIP Code | 27401 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 540129860 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | AVERETT UNIVERSITY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | AVER | NameControl |
| Phone | 4347917129 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 420 WEST MAIN STREET | AddressLine1 |
| City | DANVILLE | City |
| State | VA | State |
| ZIP Code | 24541 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | THOM DAVIS | Name |
| Title | CFO | Title |
| Phone | 4347917129 | Phone |
| Date Signed | 2014-05-06 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | ADRIENNE MCKINNEY | Name |
| PTIN | P00819656 | PTIN |
| Phone | 3362724551 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2015-11-30 17:44:51Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | TIFFANY M FRANKS | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 420 WEST MAIN STREET | AddressLine1 |
| City | DANVILLE | City |
| State | VA | State |
| ZIP Code | 24541 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 53105424 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.AVERETT.EDU | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1859 | YearFormation |
| State Legal Domicile | VA | StateLegalDomicile |
| Activity Or Mission Description | AVERETT UNIVERSITY OFFERS COURSES OF STUDY LEADING TO BACHELOR'S AND MASTER'S DEGREES ON CAMPUS IN DANVILLE, VIRGINIA AND AT REGIONAL CENTERS THROUGHOUT VIRGINIA. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 25 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 24 | NbrIndependentVotingMembers |
| Total Nbr Employees | 791 | TotalNbrEmployees |
| Total Nbr Volunteers | 24 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 3083541 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 8069740 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 34042609 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 38500597 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 466994 | InvestmentIncomePriorYear |
| Investment Income Current Year | 1655093 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 37593144 | TotalRevenuePriorYear |
| Total Revenue Current Year | 48225430 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 9329998 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 10424123 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 16916913 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 16761192 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 49813 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 30015 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 644635 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 11902144 | OtherExpensePriorYear |
| Other Expenses Current Year | 18169182 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 38198868 | TotalExpensesPriorYear |
| Total Expenses Current Year | 45384512 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -605724 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 2840918 | RevenuesLessExpensesCY |
| Total Assets BOY | 62438868 | TotalAssetsBOY |
| Total Assets EOY | 69557417 | TotalAssetsEOY |
| Total Liabilities BOY | 23078481 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 26099510 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 39360387 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 43457907 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | SEE SCHEDULE OAVERETT UNIVERSITY PREPARES STUDENTS TO SERVE AND LEAD AS CATALYSTS FOR POSITIVE CHANGE. AVERETT FULFILLS THIS MISSION BY EDUCATING STUDENTS FROM DIVERSE BACKGROUNDS, CULTURES, AND NATIONS THROUGH LIBERAL ARTS BASED UNDERGRADUATE AND GRADUATE PROGRAMS IN A PERSONAL, COLLEGIAL, INTERDISCIPLINARY ENVIRONMENT. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 41336368 | Expense |
| Grants | 10424123 | Grants |
| Revenue | 38500597 | Revenue |
| Description | AVERETT PROVIDES INSTRUCTION TO MORE THAN 2,000 STUDENTS LEADING TO UNDERGRADUATE AND GRADUATE DEGREES THROUGH ITS TRADITIONAL AND PROFESSIONAL STUDIES PROGRAMS. AVERETT PREPARES ITS STUDENTS FOR SUCCESSFUL LIVES THROUGH PERSONAL ATTENTION OF EACH STUDENT. IN THE LIBERAL ARTS TRADITION, STUDENTS ARE ENCOURAGED TO ASK AND ANSWER IMPORTANT QUESTIONS, FORM AND DEFEND JUDGEMENTS, AND THOUGHTFULLY EVALUATE DIVERSE VIEWS. IN ACCORDANCE WITH OUR CHRISTIAN HERITAGE, WE VALUE ACADEMIC AND RELIGIOUS FREEDOM, SPIRITUAL GROWTH, ACADEMIC EXCELLENCE, DIVERSITY, AND TOLERANCE. | Description |
| Total Program Service Expense | 41336368 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 1 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 1 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 1 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 1 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 1 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 1 | TaxExemptBonds |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBonds |
| Escrow Account | 0 | EscrowAccount |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 1 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 3938 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 791 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 1 | QuidProQuoContributions |
| Quid Pro Quo Disclosure | 1 | QuidProQuoDisclosure |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 25 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 24 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 0 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 0 | CompensationProcessOther |
| Investment In Joint Venture | 1 | InvestmentInJointVenture |
| Written Policy Or Procedure | 1 | WrittenPolicyOrProcedure |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | ANDREW L FITCH AVERETT UNIVERSITY | NamePerson |
| Telephone Number | 4347917129 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 420 WEST MAIN STREET | AddressLine1 |
| City | DANVILLE | City |
| State | VA | State |
| ZIP Code | 24541 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | X | InfoInScheduleOPartVII |
Form990 Part VII Section A Form990PartVIISectionA (31 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|
| MARY RIDDLE | |||||||
| CHAIRPERSON | 1.00 | X | X | 0 | 0 | 0 | |
| CALVIN SNOWDEN | |||||||
| FIRST VICE-CHAIRPERSON | 1.00 | X | X | 0 | 0 | 0 | |
| SAMUEL SAUNDERS | |||||||
| SECOND VICE-CHAIRPERSON | 1.00 | X | X | 0 | 0 | 0 | |
| ROSSIE ALSTON JR | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| JOHN BARR | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| KIRK BIDGOOD | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| IRVING BLANK | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| DANIEL CARLTON | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| STEVEN DANIELS SR | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| ERIC DEATON | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| GONZALEE FORD | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| VIRGINIA HAMLET | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| WANDA JEFFRESS | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| JAMES JENNINGS JR | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| LINDSEY MOYNIHAN | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| T WAYNE OAKES | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| GLENN PULLEY | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| JACKSON REASOR | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| RICHARD ROCCESANO | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| HENRY SLAYTON JR | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| JACK SPAINHOUR JR | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| HAMPTON WILKINS | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| KRIS WILLARD | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| BOBBYE WOMACK | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| TIFFANY FRANKS | |||||||
| PRESIDENT; TRUSTEE | 40.00 | X | X | 248574 | 0 | 19467 | |
| THOM DAVIS | |||||||
| CHIEF FINANCIAL OFFICER | 40.00 | X | 159980 | 0 | 27316 | ||
| CHARLES HARRIS | |||||||
| EVP STUDENT AFFAIRS | 40.00 | 111601 | 0 | 19705 | X | ||
| MARY CONDON | |||||||
| DEAN OF NURSING EDUCATION | 40.00 | 123491 | 0 | 11158 | X | ||
| ALBERT RAWLEY | |||||||
| VP ADVANCEMENT | 40.00 | 108541 | 0 | 20602 | X | ||
| JANET LAUGHLIN | |||||||
| VP ACADEMIC AFFAIRS | 40.00 | 122302 | 0 | 20542 | X | ||
| STUART JONES | |||||||
| VP ENROLLMENT MANAGEMENT | 40.00 | 115734 | 0 | 14215 | X | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 990223 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 133005 | TotalOtherCompensation |
| Number Individuals GT100 K | 8 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| IPD | |||||
| 4025 SOUTH RIVERPOINT PARKWAY 6TH | PHOENIX | AZ | 85040 | ENROLLMENT MGMT SERVICES | 5160000 |
| BON APPETIT | |||||
| C/O BANK OF AMERICA PO BOX 91337 | CHICAGO | IL | 60693 | FOOD SERVICES | 1346631 |
| ARAMARK FACILITY SERVICES | |||||
| 24818 NETWORK PLACE | CHICAGO | IL | 60673 | FACILITIES SERVICES | 1335022 |
| BLAIR COSTRUCTION | |||||
| PO BOX 612 | GRETNA | VA | 24557 | CONSTRUCTION | 1048664 |
| SYNERGIS | |||||
| 1820 EAST RAY ROAD | CHANDLER | AZ | 85225 | ENROLLMENT MGMT SERVICES | 775000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 7 | NumberOfContractorsGT100K |
| Government Grants | 214833 | GovernmentGrants |
| All Other Contributions | 7854907 | AllOtherContributions |
| Noncash Contributions | 743432 | NoncashContributions |
| Total Contributions | 8069740 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| TUITION & FEES | 900099 | 33580053 | 33580053 |
| AUXILIARY ENTERPRISES | 900099 | 4101980 | 4101980 |
Total Oth Program Service Revenue TotalOthProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 818564 | TotalRevenueColumn |
| Related Or Exempt Function Income | 818564 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 38500597 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 414251 | TotalRevenueColumn |
| Exclusion | $414,251 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 6046131 | Securities |
| Other | 74705 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 4857719 | Securities |
| Other | 22275 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 1188412 | Securities |
| Other | 52430 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1240842 | TotalRevenueColumn |
| Exclusion | $1,240,842 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 48225430 | TotalRevenueColumn |
| Related Or Exempt Function Income | 38500597 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $1,655,093 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | X | InfoInScheduleOPartIX |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 10424123 | Total |
| Program Services | 10424123 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 457538 | Total |
| Management And General | 457538 | ManagementAndGeneral |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 12880511 | Total |
| Program Services | 11615127 | ProgramServices |
| Management And General | 934379 | ManagementAndGeneral |
| Fundraising | 331005 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 400125 | Total |
| Program Services | 361122 | ProgramServices |
| Management And General | 25810 | ManagementAndGeneral |
| Fundraising | 13193 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2103497 | Total |
| Program Services | 1781837 | ProgramServices |
| Management And General | 285999 | ManagementAndGeneral |
| Fundraising | 35661 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 919521 | Total |
| Program Services | 812485 | ProgramServices |
| Management And General | 83103 | ManagementAndGeneral |
| Fundraising | 23933 | Fundraising |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 27687 | Total |
| Management And General | 26912 | ManagementAndGeneral |
| Fundraising | 775 | Fundraising |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 81957 | Total |
| Management And General | 81957 | ManagementAndGeneral |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 30015 | Total |
| Fundraising | 30015 | Fundraising |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 88326 | Total |
| Management And General | 88326 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 9215305 | Total |
| Program Services | 8933003 | ProgramServices |
| Management And General | 212005 | ManagementAndGeneral |
| Fundraising | 70297 | Fundraising |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 100996 | Total |
| Program Services | 85630 | ProgramServices |
| Management And General | 14586 | ManagementAndGeneral |
| Fundraising | 780 | Fundraising |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 505234 | Total |
| Program Services | 122830 | ProgramServices |
| Management And General | 344716 | ManagementAndGeneral |
| Fundraising | 37688 | Fundraising |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 220672 | Total |
| Program Services | 220377 | ProgramServices |
| Management And General | 295 | ManagementAndGeneral |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1971236 | Total |
| Program Services | 1809191 | ProgramServices |
| Management And General | 162045 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 663273 | Total |
| Program Services | 591134 | ProgramServices |
| Management And General | 58722 | ManagementAndGeneral |
| Fundraising | 13417 | Fundraising |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 128356 | Total |
| Program Services | 93635 | ProgramServices |
| Management And General | 29112 | ManagementAndGeneral |
| Fundraising | 5609 | Fundraising |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 595745 | Total |
| Program Services | 543252 | ProgramServices |
| Management And General | 52493 | ManagementAndGeneral |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1439696 | Total |
| Program Services | 1312841 | ProgramServices |
| Management And General | 126855 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 316659 | Total |
| Program Services | 286778 | ProgramServices |
| Management And General | 29881 | ManagementAndGeneral |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral | FundraisingFundraising |
|---|---|---|---|---|
| ALL OTHER EXPENSES | 1235118 | 860183 | 292673 | 82262 |
| REPAIRS AND MAINTENANCE | 727132 | 674995 | 52137 | |
| INSTRUCTIONAL SUPPLIES | 544163 | 544080 | 83 | |
| STUDENT-RELATED ACTIVIT | 307627 | 263745 | 43882 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 45384512 | Total |
| Program Services | 41336368 | ProgramServices |
| Management And General | 3403509 | ManagementAndGeneral |
| Fundraising | 644635 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2634079 | BOY |
| EOY | 3781455 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 988685 | BOY |
| EOY | 4537597 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 909302 | BOY |
| EOY | 937044 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2846516 | BOY |
| EOY | 3004667 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 645880 | BOY |
| EOY | 851151 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 54498474 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 23164993 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 30747964 | BOY |
| EOY | 31333481 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 12820051 | BOY |
| EOY | 14865740 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10646636 | BOY |
| EOY | 10153768 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 199755 | BOY |
| EOY | 92514 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 62438868 | BOY |
| EOY | 69557417 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1367667 | BOY |
| EOY | 1879747 | EOY |
Grants Payable GrantsPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2607342 | BOY |
| EOY | 2609056 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2368156 | BOY |
| EOY | 4018402 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14265586 | BOY |
| EOY | 13729440 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1206832 | BOY |
| EOY | 2976889 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1262898 | BOY |
| EOY | 885976 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 23078481 | BOY |
| EOY | 26099510 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14389847 | BOY |
| EOY | 12686140 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 6843141 | BOY |
| EOY | 12433977 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 18127399 | BOY |
| EOY | 18337790 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 39360387 | BOY |
| EOY | 43457907 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 62438868 | BOY |
| EOY | 69557417 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 2840918 | ReconcilationRevenueExpenses |
| Reconciliation Unrealized Invest | 806932 | ReconciliationUnrealizedInvest |
| Reconcilation Other Changes | 449670 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Separate | X | FinancialStatementSeparate |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | 1 | AuditCommittee |
| Federal Grant Audit Required | 1 | FederalGrantAuditRequired |
| Federal Grant Audit Performed | 1 | FederalGrantAuditPerformed |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School170b1 Aii | X | School170b1Aii |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 20529889 | BeginningOfYearBalance |
| Contributions | 134441 | Contributions |
| Investment Earnings Or Losses | 2331886 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 286200 | GrantsOrScholarships |
| Other Expenditures | 705900 | OtherExpenditures |
| End Of Year Balance | 22004116 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 21372692 | BeginningOfYearBalance |
| Contributions | 252473 | Contributions |
| Investment Earnings Or Losses | -54239 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 307159 | GrantsOrScholarships |
| Other Expenditures | 733878 | OtherExpenditures |
| End Of Year Balance | 20529889 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 18507428 | BeginningOfYearBalance |
| Contributions | 393468 | Contributions |
| Investment Earnings Or Losses | 3222121 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 272168 | GrantsOrScholarships |
| Other Expenditures | 478157 | OtherExpenditures |
| End Of Year Balance | 21372692 | EndOfYearBalance |
Current Year Minus3 Years CurrentYearMinus3Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 17023112 | BeginningOfYearBalance |
| Contributions | 716508 | Contributions |
| Investment Earnings Or Losses | 1639721 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 231116 | GrantsOrScholarships |
| Other Expenditures | 640797 | OtherExpenditures |
| End Of Year Balance | 18507428 | EndOfYearBalance |
Current Year Minus4 Years CurrentYearMinus4Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 21141208 | BeginningOfYearBalance |
| Contributions | 266224 | Contributions |
| Investment Earnings Or Losses | -2736366 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 318096 | GrantsOrScholarships |
| Other Expenditures | 1329858 | OtherExpenditures |
| End Of Year Balance | 17023112 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 0.09360 | BoardDesignatedEOYBalance |
| Permanent Endowment EOY Balance | 0.68920 | PermanentEndowmentEOYBalance |
| Term Endowment EOY Balance | 0.21720 | TermEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | 1 | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | 0 | EndowmentsHeldByRelatedOrgs |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 34225 | InvestmentCostOrOtherBasis |
| Other Cost Or Other Basis | 2560831 | OtherCostOrOtherBasis |
| Book Value | 2595056 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 28487381 | OtherCostOrOtherBasis |
| Depreciation | 8963225 | Depreciation |
| Book Value | 19524156 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 8043195 | OtherCostOrOtherBasis |
| Depreciation | 2966900 | Depreciation |
| Book Value | 5076295 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 9270862 | OtherCostOrOtherBasis |
| Depreciation | 7412435 | Depreciation |
| Book Value | 1858427 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 6101980 | OtherCostOrOtherBasis |
| Depreciation | 3822433 | Depreciation |
| Book Value | 2279547 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 31333481 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (6 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| REAL ESTATE FUNDS | 1240951 | F |
| HEDGE FUNDS | 957265 | F |
| CSV OF LIFE INSURANCE | 109746 | F |
| CASH AND CASH EQUIVALENTS | 1747437 | C |
| FUNDS HELD IN TRUST BY OTHERS | 3173291 | F |
| STABLE VALUE FUNDS | 2925078 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 10153768 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| LIABILITY UNDER ANNUITY AND TRUST AGREEMENTS | $64,520 |
| MARK-TO-MARKET SWAP VALUE | $821,456 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 885976 | TotalOfAmounts |
| Footnote In Part XIII | X | FootnoteInPartXIII |
| Tot Revenue Etc Audited Fincl Stmt | 38969583 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | 806932 | NetUnrealizedGainsInvestments |
| Other Revenues | -9974453 | OtherRevenues |
| Revenue Not Rptd F990 | -9167521 | RevenueNotRptdF990 |
| Revenue Subtotal | 48137104 | RevenueSubtotal |
| Other Revenues Not Included | 88326 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 88326 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 48225430 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 34872063 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 34872063 | ExpensesSubtotal |
| Other Expenses Not Included | 10512449 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 10512449 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 45384512 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIII Form990ScheduleDPartXIII (6 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: | PART V, LINE 4: | PROVIDE FUNDS FOR SCHOLARSHIPS, OPERATIONS, MAINTENANCE, AND SUPPORT OF AVERETT UNIVERSITY. |
| DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | PART X, LINE 2: | THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FASB ACCOUNTING STANDARDS CODIFICATION. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | RECLASS SCHOLARSHIPS AND GRANTS -10,424,123. CHANGE IN VALUE OF SWAP AGREEMENT 339,380. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUSTS 144,290. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -34,000. | |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | INVESTMENT FEES 88,326. | |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | INVESTMENT FEES 88,326. RECLASS SCHOLARSHIPS AND GRANTS 10,424,123. | |
| FORM 990, SCHEDULE D, PART V, ENDOWMENT FUNDS: LINES 1A - 1G -THE PRIOR YEAR BALANCES IN COLUMNS B E HAVE BEEN RESTATED TO EXCLUDE FUNDS HELD IN TRUST THAT WERE INADVERTENTLY INCLUDED IN PRIOR YEARS. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | 1 | NondiscriminatoryPolicyStmt |
| Policy Statement In Brochures Etc | 1 | PolicyStatementInBrochuresEtc |
| Policy Publ Via Broadcast Media | 1 | PolicyPublViaBroadcastMedia |
| Maint Racial Composition Records | 1 | MaintRacialCompositionRecords |
| Maint Scholarships Records | 1 | MaintScholarshipsRecords |
| Maint Copies Of Brochures Etc | 1 | MaintCopiesOfBrochuresEtc |
| Maint Copies Of All Solicitations | 1 | MaintCopiesOfAllSolicitations |
| Discriminate Race Students Rights | 0 | DiscriminateRaceStudentsRights |
| Discriminate Race Admiss Policies | 0 | DiscriminateRaceAdmissPolicies |
| Discriminate Race Emplmn Faculty | 0 | DiscriminateRaceEmplmnFaculty |
| Discriminate Race Scholarships | 0 | DiscriminateRaceScholarships |
| Discriminate Race Educ Policies | 0 | DiscriminateRaceEducPolicies |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFclts |
| Discriminate Race Athletic Prog | 0 | DiscriminateRaceAthleticProg |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActy |
| Government Financial Aid Received | 1 | GovernmentFinancialAidReceived |
| Government Financial Aid Revoked | 0 | GovernmentFinancialAidRevoked |
| Compliance With Rev Proc7550 | 1 | ComplianceWithRevProc7550 |
Form990 Schedule E Part II Form990ScheduleEPartII (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION | SCHEDULE E, PART I, LINE 3 | CATALOGS, PUBLICATIONS, BROCHURES, AND ADVERTISING |
| EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE | SCHEDULE E, PART I, LINE 6 | THE UNIVERSITY RECEIVES VARIOUS GOVERNMENT GRANTS INCLUDING PELL, SEOG AND FEDERAL WORK STUDY |
Schedule F IRS990ScheduleF
Accts Actvs Out US Table AcctsActvsOutUSTable (6 entries)
| RegionRegion | Number Of OfficesNumberOfOffices | Number Of EmployeesNumberOfEmployees | Type Of Activities ConductedTypeOfActivitiesConducted | Specific Services ProvidedSpecificServicesProvided | Total ExpendituresTotalExpenditures |
|---|---|---|---|---|---|
| EUROPE (INCLUDING ICELAND & GREENLAND) - | 0 | 0 | PROGRAM SERVICES | STUDY ABROAD PROGRAMS | 26226 |
| EAST ASIA AND THE PACIFIC - | 0 | 0 | PROGRAM SERVICES | EQUIPMENT FOR AVIATION INSTRUCTION | 5509 |
| CENTRAL AMERICA AND THE CARIBBEAN - | 0 | 0 | INVESTMENTS | ENDOWMENT | 3882343 |
| EUROPE (INCLUDING ICELAND & GREENLAND) - | 0 | 1 | PROGRAM SERVICES | RECRUITMENT | 16932 |
| RUSSIA & THE NEWLY INDEPENDENT STATES - | 0 | 1 | PROGRAM SERVICES | RECRUITMENT | 6928 |
| EAST ASIA AND THE PACIFIC | 0 | 0 | PROGRAM SERVICES | RECRUITMENT | 332 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Number Of Offices | 0 | SubtotalNumberOfOffices |
| Subtotal Number Of Employees | 2 | SubtotalNumberOfEmployees |
| Cont Number Of Offices | 0 | ContNumberOfOffices |
| Cont Number Of Employees | 0 | ContNumberOfEmployees |
| Total Number Of Offices | 0 | TotalNumberOfOffices |
| Total Number Of Employees | 2 | TotalNumberOfEmployees |
| Subtotal Amount Spent | 3938270 | SubtotalAmountSpent |
| Cont Amount Spent | 0 | ContAmountSpent |
| Total Amount Spent | 3938270 | TotalAmountSpent |
| Transfer To Foreign Corp | 0 | TransferToForeignCorp |
| Interest In Foreign Trust | 0 | InterestInForeignTrust |
| Own Foreign Corp | 0 | OwnForeignCorp |
| Passive Foreign Invest Co | 0 | PassiveForeignInvestCo |
| Foreign Partnership | 0 | ForeignPartnership |
| Boycott Countries | 0 | BoycottCountries |
Schedule G IRS990ScheduleG
| Field | Value | IRS element (for citing) |
|---|---|---|
| Mail Solicitations | X | MailSolicitations |
| Email Solicitations | X | EmailSolicitations |
| Phone Solicitations | X | PhoneSolicitations |
| In Person Solicitations | X | InPersonSolicitations |
| Solicitation Of Non Govt Grants | X | SolicitationOfNonGovtGrants |
| Solicitation Of Govt Grants | X | SolicitationOfGovtGrants |
| Special Fundraising Events | X | SpecialFundraisingEvents |
| Agreement Ref Fundraising | 1 | AgreementRefFundraising |
Fundraiser Activity Information FundraiserActivityInformation
Name Of Organization NameOfOrganization
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CAPITAL DEVEL SERVICES INC | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 633 W 4TH | AddressLine1 |
| City | WINSTONSALEM | City |
| State | NC | State |
| ZIP Code | 27101 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Activity | CONSULTING ON CAPITAL CAMPAIGN | Activity |
| Fundraiser Control Of Funds | 0 | FundraiserControlOfFunds |
| Gross Receipts | 0 | GrossReceipts |
| Amount Retained By Contractor | 30015 | AmountRetainedByContractor |
| Net To Organization | -30015 | NetToOrganization |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Retained By Contractors | 30015 | TotalRetainedByContractors |
| Total Net To Organization | -30015 | TotalNetToOrganization |
| Licensed States | VA | LicensedStates |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Form990 Schedule I Part III Form990ScheduleIPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Grant | SCHOLARSHIPS AND GRANTS TO STUDENTS | TypeOfGrant |
| Number Of Recipients | 897 | NumberOfRecipients |
| Amount Of Cash Grant | 10424123 | AmountOfCashGrant |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURE FOR MONITORING GRANTS IN THE U.S.: | Identifier |
| Return Reference | PART I, LINE 2: | ReturnReference |
| Explanation | SCHEDULE I, PART I, LINE 2: ANNUAL A-133 AUDIT | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Housing Allowance Or Residence | X | HousingAllowanceOrResidence |
| Club Dues Or Fees | X | ClubDuesOrFees |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Form990 Of Other Organizations | X | Form990OfOtherOrganizations |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 1 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (2 entries)
| TitleTitle | Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TIFFANY FRANKS | ||||||||||||||
| PRESIDENT; TRUSTEE | 200484 | 0 | 48000 | 0 | 90 | 0 | 12450 | 0 | 7017 | 0 | 268041 | 0 | 0 | 0 |
| THOM DAVIS | ||||||||||||||
| CHIEF FINANCIAL OFFICER | 154642 | 0 | 0 | 0 | 5338 | 0 | 8250 | 0 | 19066 | 0 | 187296 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Reference | PART I, LINE 7 | ReturnReference |
| Explanation | THE PRESIDENT RECEIVES A BONUS AT THE DISCRETION OF THE BOARD OF TRUSTEES. | Explanation |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | INDUST DEVELOP AUTHOR OF CITY OF DANVILLE VA | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Issuer EIN | 521321074 | IssuerEIN |
| Date Issued | 2010-12-17 | DateIssued |
| Issue Price | 15000000 | IssuePrice |
| Description Of Purpose | REFUND EXISTING BONDS, CAPITAL IMPROVEMENTS; WORKING CAPITAL | DescriptionOfPurpose |
| Defeased | 0 | Defeased |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Pool Financing | 0 | PoolFinancing |
Form990 Schedule K Part II Form990ScheduleKPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Amount Retired | 1270560 | AmountRetired |
| Total Proceeds | 15000000 | TotalProceeds |
| Issuance Costs From Proceeds | 270355 | IssuanceCostsFromProceeds |
| Working Capital Expenditures | 31129 | WorkingCapitalExpenditures |
| Capital Expenditures | 2310835 | CapitalExpenditures |
| Other Spent Proceeds | 12395726 | OtherSpentProceeds |
| Year Of Subst Completion | 2012 | YearOfSubstCompletion |
| Current Refunding | 1 | CurrentRefunding |
| Advance Refunding | 0 | AdvanceRefunding |
| Final Allocation Made | 1 | FinalAllocationMade |
| Adequate Books And Recds Maintaind | 1 | AdequateBooksAndRecdsMaintaind |
Form990 Schedule K Part III Form990ScheduleKPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Owning Bond Financed Property | 0 | OwningBondFinancedProperty |
| Any Lease Arrangements | 0 | AnyLeaseArrangements |
| Mngment Cntrct Bond Financd Prprty | 0 | MngmentCntrctBondFinancdPrprty |
| Any Research Agreements | 0 | AnyResearchAgreements |
| Percentage Of Prvt Business Re UBI | 0.00000 | PercentageOfPrvtBusinessReUBI |
| Total Private Business Use | 0.00000 | TotalPrivateBusinessUse |
| Bond Iss Meet Prvt Security Pay Test | 0 | BondIssMeetPrvtSecurityPayTest |
| Change In Use Bond Financed Prop | 0 | ChangeInUseBondFinancedProp |
| Non Qualified Bond Remed Procdrs | 1 | NonQualifiedBondRemedProcdrs |
Form990 Schedule K Part IV Form990ScheduleKPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Form8038 T Filed | 0 | Form8038TFiled |
| Rebate Not Due Yet | 0 | RebateNotDueYet |
| Exception To Rebate | 0 | ExceptionToRebate |
| No Rebate Due | 0 | NoRebateDue |
| Variable Rate Issue | 1 | VariableRateIssue |
| Hedge Identified In Books And Recds | 1 | HedgeIdentifiedInBooksAndRecds |
Name Of Hedge Provider NameOfHedgeProvider
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BRANCH BANK & TRUST | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Term Of Hedge | 7.000000000000 | TermOfHedge |
| Superintegrated Hedge | 0 | SuperintegratedHedge |
| Hedge Terminated | 0 | HedgeTerminated |
| Gross Proceeds Invested In GIC | 0 | GrossProceedsInvestedInGIC |
| Gross Proceeds Invested | 0 | GrossProceedsInvested |
| Written Proc To Monitor Reqs | 1 | WrittenProcToMonitorReqs |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTraded
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 3 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 30684 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenues |
Real Estate Residential RealEstateResidential
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 1 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 150000 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | APPRAISAL | MethodOfDeterminingRevenues |
Other Non Cash Contributions Table OtherNonCashContributionsTable (2 entries)
| Non Cash CheckboxNonCashCheckbox | DescriptionDescription | Number Of ContributionsNumberOfContributions | Noncash Contribs Rptd F990NoncashContribsRptdF990 | Method Of Determining RevenuesMethodOfDeterminingRevenues |
|---|---|---|---|---|
| X | MISC ITEMS & SERVICES | 5 | 573 | COST |
| X | FIELD TURF | 1 | 562175 | ESTIMATE |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | 1 | ReviewProcessUnusualNCGifts |
| Third Parties Used | 0 | ThirdPartiesUsed |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (9 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| FORM 990, PART VI, SECTION B, LINE 11 | A COMPLETE COPY OF THE FORM 990 IS PROVIDED TO AND APPROVED BY THE ENTIRE BOARD. | |
| FORM 990, PART VI, SECTION B, LINE 12C | EACH YEAR BOARD MEMBERS RECEIVE A COPY OF THE CONFLICT OF INTEREST POLICY, DETAILED QUESTIONNAIRE REGARDING CONFLICTS OF INTERESTS, BUSINESS RELATIONSHIPS, TRANSACTIONS OF CONCERN, AND A COPY OF THE INSTRUCTIONS FOR FORM 990 SCHEDULE L. BOARD MEMBERS THEN SIGN AN AFFIDAVIT REGARDING THE INFORMATION THEY HAVE PROVIDED AND THAT THEY UNDERSTAND THE POLICIES WILL BE MONITORED AND ENFORCED. | |
| FORM 990, PART VI, SECTION B, LINE 15A | THE EXECUTIVE COMMITTE REVIEWS COMPARABLE DATA WITH PEER INSTITUTIONS AND APPROVES THE PRESIDENT'S EMPLOYMENT CONTRACT. | |
| FORM 990, PART VI, SECTION C, LINE 19 | THE UNIVERSITY COMPLIES WITH PUBLIC DISCLOSURE REQUIREMENTS AND MAKES THESE DOCUMENTS AVAILABLE UPON REQUEST. | |
| FORM 990, PART VI, SECTION B, LINE 16A | EFFECTIVE NOVEMBER 1, 2012, THE UNIVERSITY ENTERED INTO AN ACADEMIC PROGRAM SERVICES AGREEMENT WITH SYNERGIS EDUCATION, INC. ("SYNERGIS") RELATED TO MARKETING AND RECRUITMENT SERVICES FOR THE UNIVERSITY'S GPS PROGRAM. | JOINT VENTURE |
| FORM 990, PART VII, SECTION A, COLUMN F | THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN COLUMN F, PART VII AND IS NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. | |
| FORM 990, PART IX, LINE 11G | OTHER: PROGRAM SERVICE EXPENSES 8,933,003. MANAGEMENT AND GENERAL EXPENSES 212,005. FUNDRAISING EXPENSES 70,297. TOTAL EXPENSES 9,215,305. | OTHER FEES |
| FORM 990, PART XI, LINE 9: | CHANGE IN VALUE OF SWAP AGREEMENT 339,380. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -34,000. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUSTS 144,290. | CHANGES IN NET ASSETS OR FUND BALANCES: |
| FORM 990, PART XII, LINE 2C, AUDIT COMMITTEE: | THE AUDIT COMMITTEE'S PROCESS OF OVERSIGHT AND SELECTION HAS NOT CHANGED SINCE PRIOR YEAR. |
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