2013-05-13T23:20:34-05:00 2012-06-30 GRANT THORNTON LLP ONE CALIFORNIA STREET SUITE 2300 SAN FRANCISCO CA 94111 990 2011-07-01 951644026 University of La Verne % LORI GORDIEN CASE UNIV 9095933511 1950 Third Street La Verne CA 917504401 AVO KECHICHIAN 2013-05-13 true CHRISTINA BECKWITH 4159863900 2013-05-13 2011 2016-02-25 16:41:14Z Devorah Lieberman 1950 Third Street La Verne CA 917504401 166237163 false X www.laverne.edu X 1891 CA Delivery of undergraduate and graduate degree programs. 26 24 2240 0 7699007 7851506 140878026 150708808 1446700 1718873 1211858 1365335 151235591 161644522 33962421 37229831 0 0 67941165 69849170 0 0 3218111 41379710 41728498 143283296 148807499 7952295 12837023 238471313 249435324 118605750 118336202 119865563 131099122 X See Schedule O false false 124029806 37229831 150708808 Educational services for undergraduate, graduate, law and doctoral students. Approximate number of students served: 10,200. 124029806 true true false false false false false false false true true false false false true false true false true false false false false false false false false false true true true false false false false false false true false true false true true false false false true true false false false true 346 0 true 2240 true false false false false false true true false false false false X 26 24 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 Luis Faura 3.0 X X 0 0 0 Kenneth L Calkins 3.0 X X 0 0 0 Michael A Abraham 3.0 X 0 0 0 Ray Bud Elam 3.0 X 0 0 0 Ann Quay Davis 3.0 X 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 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 D Tad Lowrey 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 Gregory Petersen- CYPT 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 Searing 3.0 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 Emmett L Terrell 3.0 X Devorah Lieberman 40.0 X 176530 0 35309 Philip Hawkey 40.0 X 242011 0 31883 Thomas G Dewey 40.0 X 234012 0 32430 Jean Bjerke 40.0 X 168436 0 28617 Homa Shabahang 40.0 X 190436 0 26793 Allen Easley 40.0 X 256758 0 28141 Clive Houston-Brown 40.0 X 166887 0 39183 Mark Goor 40.0 X 161035 0 23380 Jonathan Reed 40.0 X 155824 0 46034 Ibrahim Helou 40.0 X 153157 0 25883 Alden Reimoneng 40.0 X 180054 0 14809 John Linarelli- CYPT 40.0 X 170328 0 25941 Rita Thakur 40.0 X 167866 0 24625 John Roseman 40.0 X 162567 0 8480 Valerie Beltran 40.0 X 160025 0 17897 Stephen Morgan 40.0 X 1166550 0 17674 3912476 0 427079 119 true true false Kar Construction Inc 1306 W Brooks Street ONTARIO CA 91762 General Contractor 12338966 Professional Devel Courses 4121 Avenida De La Plata OCEANSIDE CA 92056 Correspondent work 3688556 Sodexo Inc Affiliates PO Box 90088 LOS ANGELES CA 90088 Housekeeping cnt 1358470 Alliant Insurance Services 735 East Carnegie Drive SAN BERNARDINO CA 92408 Workers Comp Carrier 1180722 Bon Appetit 1000 W Temple Street LOS ANGELES CA 900740196 Food Services 1014735 70 3005522 4845984 3066184 7851506 TUITION & FEES 611710 144928636 144928636 AUXILIARY ENTERPRISES 611710 5608151 5608151 BOOKSTORE 900099 92811 92811 TICKET SALES & EVENTS 900099 26570 26570 SPONSORED PROGRAMS 900099 52640 52640 150708808 1036406 1036406 18 18 0 5275090 4592641 682449 682449 682449 0 0 0 STAFF PARKING FEES 900099 37990 37990 ALL OTHER REVENUE 900099 1327345 1327345 1365335 161644522 150708808 3084208 0 37229831 37229831 0 0 2540670 1619528 545637 375505 0 54773613 45829884 7426669 1517060 4427419 3571878 704352 151189 4084086 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true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 36628858 1570469 8889 517054 332568 37358594 29794226 890834 6707216 466588 296830 36628858 27836727 194498 3153863 455642 935220 29794226 32221043 2068751 -5702258 450849 299960 27836727 0.37300 0.42500 0.20200 false false 323105 19662691 19985976 84084785 27380392 56704393 14025081 3790994 10234087 39088554 30901640 8186914 26297120 26297120 121408490 0 ANNUITIES PAYABLE 3173864 FEDERAL STUDENT LOAN FUNDS 2836416 6010280 161644522 148807499 12837023 -1365873 -237591 -1603464 11233559 126665744 21342 21342 126644402 35000120 35000120 161644522 115432185 1365873 258933 1624806 113807379 35000120 35000120 148807499 Description of intended use 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 maintaining 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. Reconciliation of Change in Net Assets Schedule D, Part XI, line 8 Change in Actuarial Obligations $ -258,933 Increase in fair value of Interest Rate SWAP's $ 21,342 Reconciliation of Revenue Schedule D, Part XII, line 4b Student Financial Aid $ 35,000,120 Reconciliation of Expenses Schedule D, Part XIII, line 2d Change in Actuarial Obligations $ -258,933 Reconciliation of Expenses Schedule D, Part XIII, line 4b Student Financial Aid $ 35,000,120 true true true true true true true false false false false false false false false true false true Explanation of nondiscriminatory policy publication 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. Explanation of government financial assistance Schedule E, Part I, line 6 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, Family Education Loans and California State Department of Education Programs. true Scholarships/ grants for students 2878 37229831 Procedure for monitoring grants in the 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 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 Stephen Morgan 150840 0 0 1015710 0 12246 0 5428 0 1184224 0 697214 0 Devorah Lieberman 176014 0 0 0 516 0 12252 0 23057 0 211839 0 0 0 Philip Hawkey 238134 0 0 0 3877 0 24288 0 7595 0 273894 0 0 0 Thomas G Dewey 234012 0 0 0 0 0 23850 0 8580 0 266442 0 0 0 Jean Bjerke 167094 0 0 0 1342 0 17478 0 11139 0 197053 0 0 0 Homa Shabahang 188927 0 0 0 1509 0 19272 0 7521 0 217229 0 0 0 Allen Easley 254710 0 0 0 2048 0 24246 0 3895 0 284899 0 0 0 Alden Reimoneng 179466 0 0 0 588 0 14454 0 355 0 194863 0 0 0 John Linarelli- CYPT 170201 0 0 0 127 0 15581 0 10360 0 196269 0 0 0 Rita Thakur 166814 0 0 0 1052 0 13692 0 10933 0 192491 0 0 0 Clive Houston-Brown 166739 0 0 0 148 0 16902 0 22281 0 206070 0 0 0 John Roseman 162567 0 0 0 0 0 5214 0 3266 0 171047 0 0 0 Mark Goor 161035 0 0 0 0 0 16476 0 6904 0 184415 0 0 0 Valerie Beltran 160025 0 0 0 0 0 7842 0 10055 0 177922 0 0 0 Jonathan Reed 155824 0 0 0 0 0 15552 0 30482 0 201858 0 0 0 Ibrahim Helou 153157 0 0 0 0 0 16020 0 9863 0 179040 0 0 0 Schedule J Disclosures and Supplemental Information See Schedule O California Municipal Finance Authority 201563466 13048THG1 2010-11-24 69676082 Univ. Construction false false false California Educaitonal Facilities Authority 521705592 130178AQ9 2005-11-10 20570652 Univ. Construction false false false 0 0 71009595 6101650 2063806 0 1108057 0 0 15367768 31128866 15239448 2013 true false false true 2750000 0 21245045 1795437 0 0 403582 0 0 6063280 12844413 138333 2007 true true false true false false false false 0 true false false false false 0 true false false false 0 false 0 false false false false 0 false 0 false false See Sch O 0 42484 Tuition Remiss Anna Jablonski Family member of Exec. VP 80155 Compensation for Employment false Bianca Romero Family member of Trustee 74974 Compensation for Employment false X 96927 Publicly Listed X 2846250 Appraisal X 50000 Appraisal X Gift Certificate for Professional Portraits 0 8000 Donor Estimate X Wine 0 400 Donor Estimate X Books 0 19950 Donor Retail Value X Beneficial Charitable Remainder Unitrust 0 44657 Discounted PV 0 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 securities. 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 age 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, Part VI, Section B, Line 11 The information/data for the 990 is primarily gathered, calculated and compiled by the financial operations manager. 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 financial operations manager 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 final public inspection 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. The conflict of interest policy requires that each of the above individuals complete the annual statement. The policy also requires reporting by the individuals during the year if the individual becomes aware of a potential conflict. Resolution of potential conflicts are documented with the potential conflict individual not participating in the deliberation or vote by the board of trustees. Relationships that give rise to conflict are disclosed on the Form 990 (if required) and also reviewed by members of the Audit Committee. Process of 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 the university's pay rates are consistent with other comparable institutions. An independent compensation consultant was used beginning Fall of 2010 to assist in finding a new president and developing the compensation package. The new president began her term on July 1, 2011. 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. Changes in Net Assets or Fund Balances Form 990, Part XI, Line 5 Net unrealized gains on investments $ -1,365,873 Change in Actuarial Obligations $ -258,933 Increase in fair value of interest rate SWAP's $ 21,342 Total to Form 990, Part XI, Line 5 $ -1,603,464 Travel for companions Schedule J, part I, line 1a As a general policy of the university, expenses attributable to spouse travel are not reimbursable. Prior written approval for specific trips must be obtained from the Vice President. 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. Any exceptions to the general policy would be approved by the president per the written policy. Agreements Schedule J, Part I, Line 4 Two individuals listed in Schedule J Part II, has a severance arrangement 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. Non-qualified retirement plan Schedule J, Part I, Line 4b The prior President had an executive retirement plan as part of his overall compensation package. The prior president participated in the plan during fiscal year 2010/2011 and received his distribution in fiscal year 2011/2012. Supplemental information Schedule J, Part II Part II not Part III For Clive Houston-Brown, 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. Former President Compensation Schedule J, Part II The Former president recieved payment of previously deferred compensation that was also reported on earler years Form 990's Schedule J. The prior year reported amounts total $697,214. Therefore, the amount of compensation reported for the former President in the current year Schedule J Part II is, effectively a double counting of compensation previously reported as deferred compensation. Thus, the total compensation reported on Schedule J, part II, column E should be reduced by $697,214 to reflect the true annual compensation. 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, Part 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