2014-06-17T01:17:43-07:00 2013-07-31 990 2012-08-01 750800657 Lon Morris College LONM 2142697850 1700 Commerce Street Suite 810 Dallas TX 75201 Dawn Ragan 2142697850 2014-06-16 2012 2015-11-30 17:44:51Z Dawn Ragan 1700 Commerce Street Suite 810 Dallas TX 75201 2583942 0 X X 501c3 Religious School 1900 TX College Educational Activities X 1 1 5 0 0 0 2641893 33993 9877351 23382 1054503 -14410186 0 0 13573747 -14352811 0 0 0 0 4020079 232601 0 0 0 10901581 8869859 14921660 9102460 -1347913 -23455271 29850680 2090471 16121547 11816609 13729133 -9726138 X College Educational Activities. 0 1 0 0 0 College Educational Activities 0 0 0 0 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 1 5 1 0 0 0 0 0 0 0 0 0 0 X 1 1 0 1 0 1 0 0 1 1 1 0 0 0 0 0 0 1 1 0 X Dawn Ragan 2142697850 1700 Commerce Street Suite 810 Dallas TX 75201 X Trustees 0 0 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 33993 0 33993 College Educational Activities 900099 335 335 0 0 Auxiliary Enterprises 900099 23047 23047 0 0 0 0 0 0 23382 36067 36067 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2490500 0 16936753 0 -14446253 -14446253 -14446253 0 0 0 0 0 0 0 0 0 -14352811 -14386804 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 202191 0 202191 0 13098 0 13098 0 17312 0 17312 0 1507014 0 1507014 0 84962 0 84962 0 87144 0 87144 0 49340 0 49340 0 56598 0 56598 0 103679 0 103679 0 Reversion of Endowment Accounts 6870378 0 6870378 0 110744 0 110744 0 9102460 0 9102460 0 226660 339823 330000 0 447338 528756 71653 71588 89262 82487 1000000 0 22426935 1000000 6191015 0 67817 67817 29850680 2090471 2421621 3469444 13613309 8347165 20990 0 65627 16121547 11816609 X 0 0 13729133 -9726138 0 0 13729133 -9726138 29850680 2090471 -23455271 0 0 0 0 0 X 0 0 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6191015 0 36067 0 6227082 0 0 12251868 5550 403607 0 6470010 0 6191015 11921551 44583 1157677 0 871943 0 12251868 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1000000 0 0 1000000 0 0 0 0 0 0 0 0 0 0 0 0 1000000 SchD_P05_S00_L04 Schedule D, Part V, Line 4 Endowment funds reverted to contingent beneficiaries or disposition as determined by donors and institutional managers, when the school ceased operations, and monitored by the TX Attorney General. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 SchE_P01_S00_L03 Schedule E, Part I, Line 3 The school is no longer operating so these policies are not required. SchE_P01_S00_L04 Schedule E, Part I, Line 4 The school is no longer operating so these policies are not required. SchE_P01_S00_L06 Schedule E, Part I, Line 6 In August 2012, students attending the College were no longer able to use Federal Aid to pay for their tuition and related charges, as a result of litigation between the Dept of Education and the College. The College sold substantially all, but not all, of its assets in March 2013, including most real and personal property, and relinquished rights to certain endowment funds. The College is continuing to liquidate remaining assets and will use proceeds to pay off pre-petition bankruptcy debts. 2013-03-14 1530000 Based on asset sale settlement sheet prepared by title company. Jacksonville ISD 800 College Avenue Jacksonville TX 75766 unknown Most real and personal property of the College, excluding specific assets sold to Jacksonville ISD and housing sold to an individual 2013-03-31 810000 Based on asset sale settlement sheet prepared by title company. 11x17 Inc PO Box 117 Jacksonville TX 75766 unknown Various houses on campus property. 2013-03-04 150500 Based on asset sale settlement sheet prepared by title company. William Adcock Jr 205 Adcock Drive Jacksonville TX 75766 unknown 0 0 0 0 SchN_P01_S00_L01 Schedule N, Part I, Line 1 As part of the bankruptcy Plan of Liquidation, substantially all the assets of the college were sold in March 2013 for minimal proceeds, generating a significant loss. Endowment funds reverted to contingent beneficiaries and remained under management of third party institutional managers. F990_P03_S00_L03 Form 990, Part III, Line 3 The College ceased academic operations in the Summer of 2012, filed bankruptcy in July 2012, and sold substantially all its assets in March 2013. Classes and programs were not conducted this fiscal year while the College wound down and prepared for sale. F990_P06_S0A_L03 Form 990, Part VI, Section A, Line 3 The remaining members of the Board of Trustees resigned effective with confirmation of the College's bankruptcy plan in Feb 2013. The Plan Agent & Liquidating Trustee is the only remaining officer and responsible party. F990_P06_S0A_L05 Form 990, Part VI, Section A, Line 5 A restricted endowment in the amount of $1 million dollars was converted to cash and included in the general coffers of the College to pay ordinary operating expenses and payroll due to liquidity constraints. Conversion of the endowment funds is the subject of ongoing litigation. F990_P06_S0A_L07b Form 990, Part VI, Section A, Line 7b Certain decisions of the Plan Agent & Liquidating Trustee are discussed with, and approved by, a designated committee of creditors. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b The return was prepared by a staff person, and reviewed and approved for filing by the Plan Agent & Liquidating Trustee. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 Compensation of the Plan Agent & Liquidating Trustee was disclosed in the College's Plan of Liquidation and Confirmation Order in Feb 2013. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 Subsequent to liquidation of the assets in March 2013 there is no longer an operating entity with employees and accordingly limited policies are necessary. The Plan Agent & Liquidating Trustee will make copies of the return available upon request as required. College filed for 3 month extension and for subsequent additional 3 month extension, such that return filing date is 6.16.14