2013-04-12T10:21:34-05:00 2012-05-31 420714325 MCGLADREY LLP 230 N ELM ST STE 1100 GREENSBORO NC 27401 990 2011-06-01 560556753 LENOIR-RHYNE UNIVERSITY LENO 8283287100 PO BOX 7164 HICKORY NC 28603 WAYNE B POWELL 8283287100 2013-04-10 ADRIENNE MCKINNEY P00819656 3362724551 2011 2016-03-07 17:11:31Z WAYNE B POWELL PO BOX 7164 HICKORY NC 28603 71137327 0 X WWW.LRC.EDU X 1905 NC SEE SCHEDULE O.LENOIR-RHYNE UNIVERSITY PROVIDES PROGRAMS OF UNDERGRADUATE, GRADUATE, AND CONTINUING STUDY COMMITTED TO THE LIBERAL ARTS AND SCIENCES. THE UNIVERSITY AWARDS BACHELORS AND MASTER DEGREES. 31 30 1120 150 2125 -6591 9631647 6558736 46667032 48672763 918904 1758737 395107 262984 57612690 57253220 20097797 21715311 0 0 17222412 18421175 79876 82381 1669455 15861746 15976460 53261831 56195327 4350859 1057893 127666713 125408486 24655076 25698123 103011637 99710363 LENOIR-RHYNE UNIVERSITY PROVIDES PROGRAMS OF UNDERGRADUATE, GRADUATE, AND CONTINUING STUDY COMMITTED TO THE LIBERAL ARTS AND SCIENCES. THE UNIVERSITY AWARDS BACHELORS AND MASTER DEGREES. 0 0 34569883 21701861 38627580 PROVIDE EDUCATIONAL PROGRAMS AND CONFER UNDERGRADUATE DEGREES IN APPROXIMATELY SIXTY ACADEMIC PROGRAMS OF STUDY. 793257 13450 2687143 PROVIDE EDUCATIONAL PROGRAMS AND CONFER MASTERS LEVEL GRADUATE DEGREES IN COUNSELING, ATHLETIC TRAINING, BUSINESS, AND OCCUPATIONAL THERAPY. 4341289 7358040 PROVIDE STUDENT LIFE PROGRAMS TO RESIDENTIAL AND COMMUTER STUDENTS AS PART OF THEIR ACADEMIC EXPERIENCES AT THE UNIVERSITY. 39704429 1 1 0 0 0 0 0 0 1 1 1 1 0 0 1 1 1 0 1 0 1 0 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 156 0 1 1120 1 1 1 0 0 0 0 0 0 0 0 0 X 31 30 1 1 0 0 0 1 0 1 1 0 0 1 1 1 1 1 0 1 1 0 X WAYNE B POWELL 8283287334 643 8TH AVENUE NE HICKORY NC 28601 X DR WAYNE B POWELL 40.00 X X 305675 0 86611 KATHRYN FISHER 40.00 X 78645 0 7983 LARRY M HALL 40.00 X 140265 0 21262 PETER K KENDALL 40.00 X 128677 0 20538 RACHEL NICHOLS 40.00 X 104233 0 26192 WILLARD S SHRODE 40.00 X 132926 0 15877 PAUL S SHUMAKER 40.00 X 82088 0 19638 NEILL R MCGEACHY 40.00 X 154235 0 13435 JEROME W BOLICK 1.00 X 0 0 0 BISHOP LEONARD H BOLICK 1.00 X 0 0 0 JEFFREY P BRONNENBERG 1.00 X 0 0 0 REV RANDALL A CAUBLE 1.00 X 0 0 0 REV PALMER D CLEMMER 1.00 X 0 0 0 SANDRA R CLINE 1.00 X 0 0 0 DUANE A DASSOW 1.00 X 0 0 0 ALAN P DAVIS 1.00 X 0 0 0 BOYD L GEORGE 1.00 X 0 0 0 REV DR J GEORGE GILBERT JR 1.00 X 0 0 0 JANE C HANDLY 1.00 X 0 0 0 DR ELIZABETH R HAYFORD 1.00 X 0 0 0 MICHAEL HINSHAW 1.00 X 0 0 0 STEVE O HUNT 1.00 X 0 0 0 MARGARET H JACKSON 1.00 X 0 0 0 REV DAVID R KECK JR 1.00 X 0 0 0 DEWYONE PEDIE KING 1.00 X 0 0 0 JEARLD L LEONHARDT 1.00 X 0 0 0 GABRIELLE MACON 1.00 X 0 0 0 JAMES L MCCOY JR 1.00 X 0 0 0 KATHERINE F MCKENZIE 1.00 X 0 0 0 GEORGE A MORETZ 1.00 X 0 0 0 STEPHEN B NEUVILLE 1.00 X 0 0 0 REV STEVE PLONK 1.00 X 0 0 0 REV TIMOTHY M SMITH 1.00 X 0 0 0 CHARLES M SNIPES 1.00 X X 0 0 0 PHILLIP E STEPHENS 1.00 X 0 0 0 JAMES V TARLTON 1.00 X 0 0 0 TONY W WOLFE 1.00 X 0 0 0 REV D RHODES WOOLLY 1.00 X 0 0 0 1126744 0 211536 6 0 1 0 ARAMARK CAMPUS SERVICES PO BOX 7476 HICKORY NC 28603 FOOD SERVICE 2003319 ARAMARK FACILITY SERVICES 2300 WARRENVILLE ROAD DOWNERS GROVE IL 60515 MAINTENANCE 1456039 SUNGARD SCT INC 14083 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 IT CONSULTING 513486 HICKORY CONSTRUCTION CO INC PO BOX 1769 HICKORY NC 28603 CONSTRUCTION NEEDS 422086 MINDPOWER INC 337 GEORGIA AVENUE ATLANTA GA 30312 MARKETING SUPPORT 252868 21 2024630 4534106 585712 6558736 TUITION AND FEES 611710 41140186 41140186 AUXILIARY SERVICES 611710 7532577 7532577 48672763 1783951 1783951 30589 37592 -7003 -7003 -7003 13821301 13839773 6742 -18472 -6742 -25214 -25214 MISCELLANEOUS 611710 269987 2125 267862 269987 57253220 48672763 2125 2019596 21715311 21715311 1126744 591315 483261 52168 13531595 7101381 5803701 626513 633904 332673 271881 29350 2093021 1098417 897697 96907 1035911 543646 444302 47963 3250746 1705991 1394245 150510 148177 77763 63553 6861 115101 60405 49367 5329 82381 82381 119589 119589 885564 464744 379818 41002 410448 215403 176041 19004 722229 379026 309764 33439 1240865 651206 532207 57452 2660 1396 1141 123 21974 11532 9425 1017 1086715 570308 466092 50315 1115060 585184 478249 51627 2390781 1254682 1025406 110693 442994 232483 190000 20511 UTILITIES 1424941 747809 611157 65975 REPAIRS 674221 353831 289174 31216 BAD DEBTS 345515 181326 148192 15997 MEMBERSHIPS & DUES 178573 93715 76590 8268 1400307 734882 600591 64834 56195327 39704429 14821443 1669455 13934066 12099815 11917842 11255365 902450 563923 1755231 1634817 17487 11921 652443 540612 74724815 34431384 37244544 40293431 36908062 34756955 19634297 19959272 4700291 4292375 127666713 125408486 2423623 2338274 667727 459086 15595000 14960000 91909 94253 2696594 3245085 951212 3180223 3650213 24655076 25698123 X 20805976 20364091 29990046 26788829 52215615 52557443 103011637 99710363 127666713 125408486 X 1057893 -4359167 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 61678109 428546 -1650927 1632407 611043 70052 58142226 52783523 2073966 9215730 1680805 641678 72627 61678109 47672900 3295556 4233753 1696813 626116 95757 52783523 59163177 2008387 -11275952 1190674 1032038 47672900 0.04590 0.76820 0.18590 1 1 1 387907 1523594 1911501 58152612 29568556 28584056 8781734 1083669 7698065 5878968 3779159 2099809 40293431 EQUITY FUNDS 3365735 F BOND FUNDS 1329226 F HEDGE FUNDS 7517171 F LIMITED PARTNERSHIPS 7747140 F 19959272 GOVERNMENT ADVANCES FOR STUDENT LOANS 1658575 INTEREST RATE SWAP 1167181 ASSET RETIREMENT OBLIGATIONS 824457 3650213 57253220 56195327 1057893 -3150639 -1208528 -4359167 -3301274 31094873 -3150639 -22675950 -25826589 56921462 331758 331758 57253220 34396147 35720 35720 34360427 119589 21715311 21834900 56195327 PART IV, LINE 2B: LENOIR-RHYNE UNIVERSITY SERVES AS CUSTODIAN FOR FUNDS BELONGING TO VARIOUS STUDENT ORGANIZATIONS. GROUPS ARE ABLE TO ACCESS THE FUNDS ON REQUEST WITH APPROVAL OF ADVISOR. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: PROVIDE SCHOLARSHIPS, PROFESSORSHIPS, AND PROGRAM SUPPORT AS DESIGNATED BY DONORS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE UNIVERSITY IS A TAX EXEMPT ENTITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). 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. WITH FEW EXCEPTIONS, THE UNIVERSITY IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, AND LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2009. PART XI, LINE 8 - OTHER ADJUSTMENTS: NONCASH CONTRIBUTION -367,478. LOSS ON INTEREST RATE SWAP -433,134. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -407,916. TOTAL TO SCHEDULE D, PART XI, LINE 8: -1,208,528. PART XII, LINE 2D, OTHER ADJUSTMENTS: LOSS ON INTEREST RATE SWAP - (433,134) SCHOLARSHIPS EXPENSE - (21,715,311) CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS - (407,916) INVESTMENT FEE EXPENSE - (119,589) PART XII, LINE 4B, OTHER ADJUSTMENTS: RENTAL EXPENSES - (28,978) NONCASH CONTRIBUTIONS - 367,478 LOSS ON SALE OF FIXED ASSETS - (6,742) PART XIII, LINE 2D, OTHER ADJUSTMENTS: RENTAL EXPENSES - 28,978 LOSS ON SALE OF FIXED ASSETS - 6,742 PART XIII, LINE 4B, OTHER ADJUSTMENTS: SCHOLARSHIPS EXPENSE - 21,715,311 INVESTMENT FEE EXPENSE - 119,589 1 0 0 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 THE ORGANIZATION HAS NO ADVERTISING DIRECTLY TO STUDENTS. THE ORGANIZATION DISPLAYS THIS POLICY IN ITS CATALOGUE AND ON REGISTRATION MATERIALS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 LENOIR-RHYNE UNIVERSITY STUDENTS RECEIVE A VARIETY OF FEDERAL AND STATE GRANTS AND LOANS, INCLUDING DIRECT LOANS, PELL GRANTS, STATE CONTRACTUAL SCHOLARSHIPS, AND NORTH CAROLINA LEGISLATIVE TUITION GRANTS. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 1574000 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENT 771000 0 0 0 0 0 0 2345000 0 2345000 FINANICAL AID GRANTED TO CURRENT IN STUDY-ABROAD PROGRAM EUROPE (INCLUDING ICELAND & GREENLAND) 1 10500 0 0 0 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: FINANICAL ASSISTANCE FOR STUDY-ABROAD PROGRAMS IS HANDLED IN THE SAME WAY AS OTHER FINANCIAL AID GRANTS. X X X X X 0 NONE NONE 1 SCHOLARSHIPS AND FELLOWSHIPS TO STUDENTS 1483 21715311 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: GRANTS ARE AWARDED TO STUDENTS BASED UPON THE CRITERIA ESTABLISHED WITH EACH GRANT. FINANCIAL AID PERSONNEL MONITOR EACH GRANT ALONG WITH THE TOTAL AID RECEIVED BY EACH STUDENT TO ENSURE THAT INDIVIDUALS AS WELL AS COLLECTIVE AWARDS ARE WITHIN THE GUIDELINES ESTABLISHED BY STATE AND FEDERAL GOVERNMENTAL AGENCIES. 1 X X 0 0 0 0 0 0 0 0 0 DR WAYNE B POWELL 289091 0 15000 0 1584 0 64400 0 22211 0 392286 0 0 0 LARRY M HALL 139713 0 0 0 552 0 8690 0 12572 0 161527 0 0 0 NEILL R MCGEACHY 151187 0 0 0 3048 0 6727 0 6708 0 167670 0 0 0 LENOIR-RHYNE UNIVERSITY 560556753 65818PFR5 2008-03-13 17000000 SEE SCHEDULE O. 0 0 0 17000000 176240 16823760 8385345 2010 1 0 1 1 0 0 0 0 1 1 1 1 WELLS FARGO 9.000000000000 0 0 0 0 1 X X 2128 FAIR MARKET VALUE X 23 218485 FAIR MARKET VALUE X 1 280000 APPRAISAL X FURNITURE 5 78430 FAIR MARKET VALUE X MUSICAL INSTRUMENTS 2 2509 FAIR MARKET VALUE X SUPPLIES 4 1430 FAIR MARKET VALUE X HOTEL ROOMS 1 2000 FAIR MARKET VALUE X GIFT CERTIFICATES & COUPONS 4 150 FAIR MARKET VALUE X SEASON THEATRE TICKETS 1 40 FAIR MARKET VALUE X FOOD FOR EVENT 1 540 FAIR MARKET VALUE 0 0 1 THIRD PARTY USE: PART I, LINE 32B: FOR NONCASH CONTRIBUTIONS OF SECURITIES, THE ORGANIZATION USES A THIRD PARTY BROKER COMPANY TO SELL THESE ASSETS. FORM 990, PART VI, SECTION A, LINE 2 HICKORY IS A RELATIVELY SMALL TOWN, AND MANY MEMBERS ON THE BOARD (OR A FAMILY MEMBER) OPERATE A BUSINESS IN TOWN THAT OTHERS MAY PATRONIZE IN THE NORMAL COURSE OF BUSINESS. FORM 990, PART VI, SECTION A, LINE 3 THE UNIVERSITY HAS FOUR SIGNIFICANT MANAGEMENT CONTRACTS WITH OUTSIDE SERVICE PROVIDERS. THESE INCLUDE MANAGEMENT (ARAMARK), DINING SERVICES (ARAMARK), BOOKSTORE OPERATIONS (VALIDIS), AND IT OPERATIONS (SUNGUARD HIGHER EDUCATION). IN ALL OF THESE INSTANCES THE UNIVERSITY HAS A DETAILED CONTRACT WITH THE VENDOR THAT CLEARLY DELINEATES THE AUTHORITY THESE ORGANIZATIONS AND THEIR EMPLOYEES HAVE TO PROVIDE MANAGEMENT AND OTHER SERVICES. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE BOARD OF TRUSTEES ARE ELECTED BY THE ORGANIZATION'S GOVERNING BODY WITH THE EXCEPTION OF THE BISHOP OF THE NC SYNOD. THE BISHOP OF THE NC SYNOD IS ELECTED BY THE DELEGATES TO THE SYNOD CONVENTION AND HE/SHE HOLDS AN EX-OFFICIO VOTING POSITION ON THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11 THE BOARD WILL BE EMAILED THE FORM 990 TO BE REVIEWED. FORM 990, PART VI, SECTION B, LINE 12C THE CHAIR OF THE BOARD OF TRUSTEES AND THE PRESIDENT OF THE UNIVERSITY REQUEST THAT ALL TRUSTEES, OFFICERS, SENIOR MANAGERS AND DEPARTMENT MANAGERS REVIEW THE CONFLICT OF INTEREST POLICY AND COMPLETE THE DISCLOSURE FORM ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD CONDUCTS AN ANNUAL PERFORMANCE APPRAISAL OF THE PRESIDENT. THIS COMMITTEE THEN APPROVES CHANGES IN COMPENSATION AND/OR THE EMPLOYMENT CONTRACT OF THE PRESIDENT BASED ON A REVIEW OF HISTORICAL COMPENSATION DATA COMPILED REGARDING THE COMPENSATION OF THE PRESIDENTS OF SIMILAR ORGANIZATIONS IN NORTH CAROLINA AND THROUGHOUT THE UNITED STATES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. 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 VII, SECTION A, COLUMN B HOURS PROVIDED TO RELATED ORGANIZATION: EMPLOYEE: NEILL R. MCGEACHY HOURS PER WEEK: 10 RELATED ORGANIZATION: PIEDMONT EDUCATIONAL FOUNDATION PIEDMONT EDUCATIONAL FOUNDATION, INC. PAID 54,330 OF TOTAL COMPENSATION FOR HIS SERVICES TO THAT ORGANIZATION. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -3,150,639. NONCASH CONTRIBUTION -367,478. LOSS ON INTEREST RATE SWAP -433,134. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -407,916. TOTAL TO FORM 990, PART XI, LINE 5: -4,359,167. FORM 990, PART XII, LINE 2C, FINANCE COMMITTEE: THE AUDIT COMMITTEE'S PROCESS OF OVERSIGHT AND SELECTION HAS NOT CHANGED SINCE PRIOR YEAR. FORM 990, SCHEDULE K, PART I, COLUMN F FOR RENOVATION AND PURCHASE OF HOUSING FACILITIES. FOR REFINANCING OF PREVIOUS BOND ISSUE. PIEDMONT EDUCATIONAL FOUNDATION PO BOX 7164 HICKORY NC 28603 566061289 PROVIDE ATHLETIC SCHOLARSHIPS FOR LENOIR RHYNE UNIVERSITY NC 501(C)(3) 11 - TYPE I N/A 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0