2013-04-26T12:25:55-05:00 2012-06-30 420714325 MCGLADREY LLP 230 N ELM ST STE 1100 GREENSBORO NC 27401 990 2011-07-01 540129860 AVERETT UNIVERSITY AVER 4347917129 420 WEST MAIN STREET DANVILLE VA 24541 THOM DAVIS 4347917129 2013-04-25 1 ADRIENNE MCKINNEY P00819656 3362724551 2011 2016-02-25 16:41:14Z TIFFANY M FRANKS 420 WEST MAIN STREET DANVILLE VA 24541 42745907 0 X WWW.AVERETT.EDU X 1859 VA 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. 27 26 810 26 0 0 4068265 3083541 31233801 34042609 3147328 466994 0 0 38449394 37593144 8417088 9329998 0 0 15257448 16916913 106540 49813 520992 11596943 11902144 35378019 38198868 3071375 -605724 65651238 62438868 24301848 23078481 41349390 39360387 X 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. 0 0 34364200 9329998 34042609 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. 34364200 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 3362 0 1 810 1 0 0 0 0 0 1 1 0 1 1 0 X 27 26 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X ANDREW L FITCH AVERETT UNIVERSITY 4347917129 420 WEST MAIN STREET DANVILLE VA 24541 MARY RIDDLE 1.00 X X 0 0 0 CALVIN SNOWDEN 1.00 X X 0 0 0 SAMUEL SAUNDERS 1.00 X X 0 0 0 ROSSIE ALSTON JR 1.00 X 0 0 0 JOHN BARR 1.00 X 0 0 0 JAMES BAUCOM JR 1.00 X 0 0 0 KIRK BIDGOOD 1.00 X 0 0 0 IRVING BLANK 1.00 X 0 0 0 DANIEL CARLTON 1.00 X 0 0 0 STEVEN DANIELS SR 1.00 X 0 0 0 ERIC DEATON 1.00 X 0 0 0 GONZALEE FORD 1.00 X 0 0 0 VIRGINIA HAMLET 1.00 X 0 0 0 WANDA JEFFRESS 1.00 X 0 0 0 JAMES JENNINGS JR 1.00 X 0 0 0 LINDSEY MOYNIHAN 1.00 X 0 0 0 T WAYNE OAKES 1.00 X 0 0 0 GLENN PULLEY 1.00 X 0 0 0 JACKSON REASOR 1.00 X 0 0 0 RICHARD ROCCESANO 1.00 X 0 0 0 HENRY SLAYTON JR 1.00 X 0 0 0 JACK SPAINHOUR JR 1.00 X 0 0 0 JOHN VIGOUROUX 1.00 X 0 0 0 HAMPTON WILKINS 1.00 X 0 0 0 KRIS WILLARD 1.00 X 0 0 0 BOBBYE WOMACK 1.00 X 0 0 0 TIFFANY FRANKS 50.00 X X 237231 0 26060 THOM DAVIS 50.00 X 168322 0 26952 CHARLES HARRIS 50.00 X 108203 0 23769 ALBERT RAWLEY 50.00 X 107980 0 24526 PEGGY WRIGHT 40.00 X 109673 0 17152 STUART JONES 50.00 X 106433 0 19709 837842 0 138168 6 0 1 0 IPD 4025 SOUTH RIVERPOINT PARKWAY 6TH PHOENIX AZ 85040 MANAGEMENT FEES - GPS PROGRAM 2580000 BON APPETIT C/O BANK OF AMERICA PO BOX 91337 CHICAGO IL 60693 MANAGEMENT FEES - FOOD SERVICES 1296633 ARAMARK FACILITY SERVICES 24818 NETWORK PLACE CHICAGO IL 60673 MANAGEMENT FEES - MAINENANCE & SECURITY 1267558 PTL CONTRACTORS INC 109 BARBER STREET DANVILLE VA 24541 CONSTRUCTION 1107339 BLAIR CONSTRUCTION PO BOX 612 GRETNA VA 24557 CONSTRUCTION 198686 7 225962 2857579 15636 3083541 TUITION & FEES 900099 29634957 29634957 AUXILIARY ENTERPRISES 900099 3803433 3803433 604219 604219 34042609 317160 317160 5302597 5152763 149834 149834 149834 37593144 34042609 0 466994 9329998 9329998 433829 433829 12412206 11207950 879481 324775 387298 344887 29360 13051 2784502 2469999 280457 34046 899078 795346 80280 23452 32772 2758 26534 3480 103866 103866 49813 49813 2962643 2771888 176001 14754 65210 47287 16847 1076 472609 112285 342956 17368 201979 183834 18145 1913560 1717871 195689 520289 480626 35776 3887 66084 49260 14764 2060 622832 557288 65544 1324564 1185174 139390 440935 394910 46025 ALL OTHER EXPENSES 1963366 1554870 375266 33230 REPAIRS AND MAINTENANCE 488931 436963 51968 INSTRUCTIONAL SUPPLIES 483664 483166 498 STUDENT-RELATED ACTIVIT 238840 237840 1000 38198868 34364200 3313676 520992 5504414 2634079 1360594 988685 4326690 909302 0 2846516 574204 645880 52809708 22061744 29191425 30747964 12820051 24460773 10646636 233138 199755 65651238 62438868 1437511 1367667 2590381 2607342 2202361 2368156 14779964 14265586 2475665 1206832 815966 1262898 24301848 23078481 X 14960803 14389847 8570977 6843141 17817610 18127399 41349390 39360387 65651238 62438868 X -605724 -1383279 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 24659629 252473 -341174 307159 704879 23558890 21425244 393468 3591242 272168 478157 24659629 19865890 716508 1714759 231116 640797 21425244 24726742 266224 -3479122 318096 1329858 19865890 0.08780 0.76670 0.14550 1 0 2560831 2560831 35213284 11169998 24043286 9278993 7319437 1959556 5756600 3572309 2184291 30747964 REAL ESTATE 1368212 F HEDGE FUNDS 3504490 F CSV OF LIFE INSURANCE 101340 F CASH AND CASH EQUIVALENTS 2643593 C FUNDS HELD IN TRUST BY OTHERS 3029001 F 10646636 LIABILITY UNDER ANNUITY AND TRUST AGREEMENTS 102062 MARK-TO-MARKET SWAP VALUE 1160836 1262898 37593144 38198868 -605724 -808168 -575111 -1383279 -1989003 26879867 -808168 -9905109 -10713277 37593144 0 37593144 28868870 -9329998 -9329998 38198868 0 38198868 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: PROVIDE FUNDS FOR SCHOLARSHIPS, OPERATIONS, MAINTENANCE, AND SUPPORT OF AVERETT UNIVERSITY. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SWAP AGREEMENT -575,111. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASS SCHOLARSHIPS AND GRANTS -9,329,998. CHANGE IN VALUE OF SWAP AGREEMENT -575,111. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RECLASS SCHOLARSHIPS AND GRANTS -9,329,998. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 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 NORTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAMS 724 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAMS 21278 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES EQUIPMENT FOR AVIATION INSTRUCTION 15556 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS ENDOWMENT 3504490 EUROPE (INCLUDING ICELAND & GREENLAND) 0 1 PROGRAM SERVICES RECRUITMENT 30500 RUSSIA & THE NEWLY INDEPENDENT STATES 0 1 PROGRAM SERVICES RECRUITMENT 2000 0 2 0 0 0 2 3574548 0 3574548 0 0 0 0 0 0 X X X X X X X 1 CAPITAL DEVELOPMENT SERVICES INC 633 WEST 4TH STREET WINSTONSALEM NC 27101 CONSULTING ON CAPITAL CAMPAIGN 0 0 49813 -49813 49813 -49813 VA 1 SCHOLARSHIPS AND GRANTS TO STUDENTS 874 9329998 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: ANNUAL A-133 AUDIT X X X 1 1 X X X X 0 0 0 0 0 0 0 1 0 TIFFANY FRANKS 197141 0 40000 0 90 0 19800 0 6260 0 263291 0 0 0 THOM DAVIS 150993 0 0 0 17329 0 16350 0 10602 0 195274 0 0 0 PART I, LINE 7 THE PRESIDENT RECEIVES A BONUS AT THE DISCRETION OF THE BOARD OF TRUSTEES. INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF DANVILLE VIRGINIA 521321074 2010-12-17 15000000 REFUND EXISTING BONDS, CAPITAL PURCHASES & IMPROVEMENTS; WORKING CAPITAL 0 0 0 734415 15000000 270355 31129 2310835 12395726 2012 1 0 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 1 BRANCH BANK & TRUST 7.000000000000 0 0 0 0 0 X 1 0 X 0 X 5 15636 SALE PRICE X 3 0 X MISC ITEMS & SERVICES 6 0 0 1 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): LINES 1, 5, 19, 26 WITH THE EXCEPTION OF GIFTS OF SECURITIES AND REAL PROPERTY, AVERETT UNIVERSITY DOES NOT RECORD NON-CASH CONTRIBUTIONS. FORM 990, PART VI, SECTION B, LINE 11 A COMPLETE COPY OF FORM 990 IS PROVIDED TO THE EXECUTIVE COMMITTEE, THE BUSINESS AFFAIRS COMMITTEE, AND THE AUDIT COMMITTEE. A PUBLIC INSPECTION COPY IS PROVIDED TO THE REMAINING TRUSTEES. THE ENTIRE BOARD OF TRUSTEES APPROVES THE FORM 990. 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -808,168. CHANGE IN VALUE OF SWAP AGREEMENT -575,111. TOTAL TO FORM 990, PART XI, LINE 5: -1,383,279.