2013-05-10T09:51:34-05:00 2012-06-30 232932984 PARENTEBEARD LLC 46 PUBLIC SQUARE SUITE 400 WILKESBARRE PA 187012681 990 2011-07-01 231352354 LEBANON VALLEY COLLEGE LEBA 7178676206 101 NORTH COLLEGE AVENUE ANNVILLE PA 170030501 DEBORAH FULLAM 7178676206 2013-05-08 1 JULIUS C GREEN CPA JD P00350393 5703236023 2011 2016-02-24 21:20:13Z LEWIS THAYNE 101 NORTH COLLEGE AVENUE ANNVILLE PA 170030501 91919831 0 X WWW.LVC.EDU X 1866 PA PROVIDES EDUCATIONAL SERVICES AT THE UNDERGRADUATE AND GRADUATE LEVEL. 33 27 1659 681 352628 -91376 6858257 4716228 54130523 57339608 1177548 775890 11984767 12299883 74151095 75131609 25309009 26660401 0 0 25336674 26559689 0 0 1125750 20476845 20957275 71122528 74177365 3028567 954244 155962331 158763668 42020147 45166712 113942184 113596956 X LEBANON VALLEY COLLEGE IS A SMALL, PRIVATE, LIBERAL ARTS COLLEGE. ITS MISSION ARISES DIRECTLY FROM ITS HISTORICAL TRADITIONS AND A RELATIONSHIP WITH THE UNITED METHODIST CHURCH. THE COLLEGE'S AIM IS TO ENABLE OUR STUDENTS TO BECOME PEOPLE OF BROAD VISION, CAPABLE OF MAKING INFORMED DECISIONS, AND PREPARED FOR A LIFE OF SERVICE TO OTHERS. TO THAT END WE SEEK TO PROVIDE AN EDUCATION THAT HELPS STUDENTS TO ACQUIRE THE KNOWLEDGE, SKILLS, ATTITUDES, AND VALUES NECESSARY TO LIVE AND WORK IN A CHANGING, DIVERSE, AND FRAGILE WORLD. THROUGH BOTH CURRICULAR AND CO-CURRICULAR ACTIVITIES WE ENDEAVOR TO ACQUAINT OUR STUDENTS WITH HUMANITY'S MOST SIGNIFICANT IDEAS AND ACCOMPLISHMENTS, TO DEVELOP THEIR ABILITIES TO THINK LOGICALLY AND COMMUNICATE CLEARLY, TO GIVE THEM PRACTICE IN PRECISE ANALYSIS AND EFFECTIVE PERFORMANCE, AND TO ENHANCE THEIR SENSITIVITY TO AND APPRECIATION OF DIFFERENCES AMONG HUMAN BEINGS. 0 0 66574802 26660401 57744215 LEBANON VALLEY COLLEGE, FOUNDED IN 1866, OFFERS BACHELOR'S DEGREES IN 35 MAJORS; MASTER'S DEGREES IN BUSINESS ADMINISTRATION, MUSIC EDUCATION, AND SCIENCE EDUCATION; AND A DOCTORAL DEGREE IN PHYSICAL THERAPY. LOCATED EIGHT MILES FROM HERSHEY, PENNSYLVANIA, THIS LIBERAL ARTS COLLEGE OF 2,102 TOTAL ENROLLED STUDENTS HAS HAD 100 PERCENT JOB PLACEMENT RATE IN FOUR MAJORS FOR THE PAST THREE YEARS, AND MORE THAN HALF OF THE GRADUATES IN SCIENCE WHO HAVE PARTICIPATED IN SUMMER RESEARCH HAVE GONE ON TO GRADUATE OR PROFESSIONAL SCHOOLS. NEARLY 80% OF OUR FULL-TIME STUDENTS (WHO HAVE HIGH SCHOOL CLASS RANKS) RANK IN THE TOP 30% OF THEIR HIGH SCHOOL CLASS & RECEIVE SCHOLARSHIPS OF UP TO HALF THEIR TUITION. FOR THE YEAR ENDED JUNE 30, 2012, APPROXIMATELY 1,588 FULL-TIME STUDENTS RECEIVED GRANTS AND SCHOLARSHIPS FROM LEBANON VALLEY COLLEGE. 66574802 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 1 0 1 0 1 0 0 1 1 1 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 2988 0 1 1659 1 1 1 0 0 0 0 1 1 0 0 0 0 X 33 27 1 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 PA X DEBORAH R FULLAM 7178676206 101 NORTH COLLEGE AVENUE ANNVILLE PA 170030501 X LYNN G PHILLIPS 1.00 X X 0 0 0 GEORGE M REIDER JR 1.00 X X 0 0 0 KATHERINE J BISHOP 1.00 X X 0 0 0 GEORGE J KING 1.00 X X 0 0 0 HARRY B YOST 1.00 X X 0 0 0 ALAN A SYMONETTE 1.00 X 0 0 0 ALBERTINE P WASHINGTON 1.00 X 0 0 0 CARROLL SKIP MISSIMER 1.00 X 0 0 0 CHESTER Q MOSTELLER 1.00 X 0 0 0 EDWARD D BREEN 1.00 X 0 0 0 ELIZABETH R UNGER 1.00 X 0 0 0 ELLIOTT ROBINSON 1.00 X 0 0 0 ELYSE E ROGERS 1.00 X 0 0 0 GERET P DEPIPER 1.00 X X 0 0 0 JAMES G GLASGOW 1.00 X 0 0 0 JEFFREY W ROBBINS 40.00 X 64459 0 13044 KRISTEN R ANGSTADT 1.00 X 0 0 0 MALCOLM L LAZIN 1.00 X 0 0 0 RENEE FRITZ 1.00 X 0 0 0 RENEE LAPP NORRIS 40.00 X 59712 0 9691 REV ALFRED T DAY III 1.00 X 0 0 0 RONALD J DRNEVICH 1.00 X 0 0 0 RYAN H TWEEDIE 1.00 X 0 0 0 SAMUEL A WILLMAN 1.00 X 0 0 0 STEPHEN H ROBERTS 1.00 X 0 0 0 STEPHEN M NELSON 1.00 X 0 0 0 SUSANNE HARLEY DOMBROWSKI 1.00 X 0 0 0 TERENCE C BROWN 1.00 X 0 0 0 TRACEY A STOVER 1.00 X 0 0 0 WENDIE DIMATTEO HOLSINGER 1.00 X 0 0 0 WESLEY T DELLINGER 1.00 X 0 0 0 MICHAEL PITTARI 40.00 X 55316 0 18468 ROBERTO M VALDEZ 1.00 X 0 0 0 SETH MENDELSOHN 1.00 X 3435 0 0 DANIEL K MEYER 1.00 X 0 0 0 JOHN F JURASITS JR 1.00 X 0 0 0 JOHN S OYLER 1.00 X 0 0 0 KELLY ZIMMERMAN 1.00 X 0 0 0 MARC A HARRIS 40.00 X 64417 0 15180 ROBERT HARBAUGH 1.00 X 0 0 0 STEVEN MACDONALD 40.00 X X 307409 0 28334 DEBORAH FULLAM 40.00 X 165075 0 15075 MARY ELIZABETH 40.00 X 85191 0 12737 MICHAEL GREEN 40.00 X 164706 0 27629 ANNE BERRY 40.00 X 166179 0 21133 STAN DACKO 40.00 X 112131 0 28384 GREGORY KRIKORIAN 40.00 X 121498 0 28262 DAVID RUDD 40.00 X 110086 0 22768 ROBERT RILEY 40.00 X 145907 0 26824 1625521 0 267529 11 0 1 0 HIGH CONSTRUCTION 1853 WILLIAM PENN WAY LANCASTER PA 17605 CONSTRUCTION SERVICES 8389393 METZ CULINARY MANAGEMENT 2 WOODLAND DRIVE DALLAS PA 18612 FOOD SERVICE PROVIDER 3542704 ARTHUR FUNK & SONS INC 1405 BIRCH ROAD LEBANON PA 17042 CONSTRUCTION SERVICES 397284 ROYALL & COMPANY 1920 EAST PARHAM ROAD RICHMOND VA 23229 PUBLICATIONS 330379 EBSCO PUBLISHING 83 PINE STREET PEABODY MA 01960 ONLINE DATABASE SERVICE 314312 17 66574 2237357 2412297 16455 4716228 STUDENT TUITION AND FE 611600 57339608 57339608 57339608 688506 688506 8175 7980 195 195 195 15655289 10100 15578005 0 77284 10100 87384 87384 19810 66574 26456 -6646 -6646 1369436 1175781 193655 193655 DORMITORIES 721000 5820642 5820642 DINING HALL 722320 5214129 5214129 ATHLETIC CAMPS & TOURN 713990 404607 404607 673301 352628 320673 12112679 75131609 57744215 352628 12318538 91200 91200 26539126 26539126 30075 30075 863580 863580 20002480 17080084 2211550 710846 1451281 1243943 154734 52604 3071705 2550986 413404 107315 1170643 1053133 78416 39094 111991 111991 77700 77700 3923839 3450804 438289 34746 1211105 1174722 36383 2238683 1779278 385824 73581 1658271 1645435 12836 1013581 836205 112244 65132 1160491 1160491 5074251 5074251 497023 497023 REPAIR/MAINTENANCE 2595115 2113989 477865 3261 LIBRARY MATERIALS 780986 780986 STUCO/CULTURAL PROGRAMM 222247 222247 DUES/MEMBERSHIPS 110098 79458 29242 1398 281894 156397 124107 1390 74177365 66574802 6476813 1125750 3999 4001 8329484 3282191 2326798 2177290 759619 1266211 2216733 2148053 339017 63606 1099508 1342219 153789590 62320284 86698012 91469306 54189161 57010791 155962331 158763668 4639977 4587925 241289 183533 33233738 36624796 3905143 3770458 42020147 45166712 X 63486981 65372265 16148047 13472373 34307156 34752318 113942184 113596956 155962331 158763668 X 954244 -1299472 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 46369916 1461762 -749106 929836 1026522 45126214 41520440 1298876 5598544 970532 1077412 46369916 36996024 1620390 4927745 955170 1068549 41520440 43594697 872142 -5434999 959263 1076553 36996024 0.13000 0.66000 0.21000 0 0 16760674 16760674 113740176 48588291 65151885 19041029 12976621 6064408 4247711 755372 3492339 91469306 LIABILITY ON ANNUITY CONTRACTS 902550 STUDENT CREDIT BALANCES AND DEPOSITS 1184277 ADVANCES FROM FEDERAL GOVERNMENT FOR STUDENT LOANS 1683631 3770458 75131609 74177365 954244 -1319728 20256 -1299472 -345228 50208239 -1319728 -24813859 -26133587 76341826 -1210217 -1210217 75131609 50553467 1210217 1210217 49343250 24834115 24834115 74177365 PART III, LINE 4: THE COLLEGE'S COLLECTION CONSISTS OF ARTWORK, RARE BOOKS AND OTHER OBJECTS. THE COLLECTION IS HELD FOR EDUCATION, RESEARCH AND PUBLIC EXHIBITION AND IS PROTECTED, KEPT UNENCUMBERED, CARED FOR AND PRESERVED. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: TO SUPPORT EDUCATIONAL PROGRAMS IN ACCORDANCE WITH THE DONOR DESIGNATIONS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE COLLEGE ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. MANAGEMENT DETERMINED THAT THERE WERE NO TAX UNCERTAINTIES THAT MET RECOGNITION THRESHOLD IN FISCAL YEAR 2012 OR 2011. THE COLLEGE'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS FOR 2010, 2009, AND 2008 REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN CASH SURRENDER VALUE 20,256. PART XII, LINE 2D - OTHER ADJUSTMENTS: STUDENT EDUCATIONAL GRANTS -24,834,115. CHANGE IN CASH SURRENDER VALUE 20,256. PART XII, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS FOR SALE OF INVENTORY -1,175,781. RENTAL EXPENSES -7,980. SPECIAL EVENTS EXPENSES -26,456. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 7,980. COST OF GOODS FOR SALE OF INVENTORY 1,175,781. SPECIAL EVENTS EXPENSES 26,456. PART XIII, LINE 4B - OTHER ADJUSTMENTS: STUDENT EDUCATIONAL GRANTS 24,834,115. 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 THE POLICY IS INCLUDED ON THE COLLEGE'S CATALOG, WEBSITE, PUBLICATIONS, ETC. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES VARIOUS FEDERAL GRANTS DIRECTLY FROM THE U.S. DEPARTMENT OF EDUCATION. THESE GRANTS INCLUDE SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS, COLLEGE WORK-STUDY FUNDING, AND PELL GRANTS. THE COLLEGE ALSO RECEIVES GRANTS FROM THE COMMONWEALTH OF PENNSYLVANIA. 0 BERMUDA INVESTMENT 919999 0 0 0 0 0 0 919999 0 919999 INTERNATIONAL STUDENT GRANT ASIA 1 13830 DISBURSEMENT TO STUDENT ACCOUNTS N/A CASH INTERNATIONAL STUDENT GRANT EUROPE 1 10830 DISBURSEMENT TO STUDENT ACCOUNTS N/A CASH INTERNATIONAL STUDENT GRANT CANADA 1 5415 DISBURSEMENT TO STUDENT ACCOUNTS N/A CASH 0 0 0 0 1 0 LVEP GOLF TOURNAMENT 56112 44096 12016 5890 5026 3950 LVC GOLF CLASSIC 30272 22478 7794 300 1800 3941 5549 86384 66574 19810 300 7690 8967 9499 26456 -6646 1 ANVILLE TOWNSHIP 36 NORTH LANCASTER STREET ANNVILLE PA 17003 236003026 N/A 71600 CASH N/A CONTRIBUTION FOR DEVELOPMENT OF DOWNTOWN ANNVILLE AND UNRESTRICTED CONTRIBUTION TO SUPPORT THE TOWNSHIP ANVILLE -CLEONA SCHOOL DISCTICT 500 SOUTH WHITE OAK STREET ANNVILLE PA 17003 231602952 N/A 16800 CASH N/A UNRESTRICTED CONTRIBUTION TO SUPPORT THE SCHOOL DISTRICT 2 0 LVC GRANTS & SCHOLARSHIPS 1585 24691624 CASH N/A SEOG GRANTS 31 112416 CASH N/A STUDENT AWARDS 129 274650 CASH N/A PELL GRANTS 403 1364474 CASH N/A FACULTY ACADEMIC GRANTS 18 27962 CASH N/A TEACH GRANT 17 68000 CASH N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: ALL STUDENTS APPLYING FOR FEDERAL FUNDS ARE REQUIRED TO SUBMIT THE FREE APPLICATION FOR FEDERAL STUDENT AID ("FAFSA"). THE FINANCIAL AID OFFICE REVIEWS THE RESULTS OF THE FAFSA, WHICH DICTATES WHAT AND HOW MUCH FEDERAL FUNDING THE INDIVIDUAL STUDENT IS ELIGIBLE FOR. IF THE STUDENT IS DETERMINED TO BE IN COMPLIANCE WITH ALL FEDERAL REGULATIONS, AS DETERMINED BY THE DEPT. OF ED., THE FINANCIAL AID OFFICE AWARDS THE STUDENT THE APPROPRIATE FUNDING. STUDENT FILES REGARDING ELIGIBILITY ARE MAINTAINED BY THE FINANCIAL AID OFFICE. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 STEVEN MACDONALD 307409 0 0 0 0 0 22050 0 6284 0 335743 0 0 0 DEBORAH FULLAM 165075 0 0 0 0 0 14679 0 396 0 180150 0 0 0 MICHAEL GREEN 164706 0 0 0 0 0 15193 0 12436 0 192335 0 0 0 ANNE BERRY 166179 0 0 0 0 0 14935 0 6198 0 187312 0 0 0 ROBERT RILEY 145907 0 0 0 0 0 13642 0 13182 0 172731 0 0 0 PART I, LINE 1A FROM THE EMPLOYMENT AGREEMENT BETWEEN LEBANON VALLEY COLLEGE AND STEPHEN C. MACDONALD - "THE COLLEGE SHALL PAY OR REIMBURSE THE EXECUTIVE FOR ALL REASONABLE BUSINESS EXPENSES INCURRED BY THE EXECUTIVE (AND HIS SPOUSE WHERE THERE IS A LEGITIMATE BUSINESS REASON FOR HIS SPOUSE TO ACCOMPANY HIM) IN CONNECTION WITH THE PERFORMANCE OF HIS DUTIES AND OBLIGATIONS UNDER THIS AGREEMENT. SUCH PAYMENTS SHALL INCLUDE REASONABLE REIMBURSEMENTS FOR TICKETS, SUBSCRIPTIONS, ETC. FOR THE EXECUTIVE AND HIS SPOUSE TO WORK-RELATED FUND RAISING EVENTS IN THE COMMUNITY. SUCH EXPENSES SHALL BE SUBJECT TO THE REVIEW AND APPROVAL OF THE CHAIR OF THE BOARD." NOT REQUIRED TO REPORT 39790 SCHOLARSHIP WILLIAM LEHRRON DRNEVICHJAMES MEA WILLIAM LEHR & JAMES MEAD- FORMER TRUSTEES & RON DRNEVICH - CURRENT TRUSTEE 2143466 WILLIAM LEHR,RON DRNEVICH, AND JAMES MEAD ARE OFFICERS OF CAPITAL BLUE CROSS, THE COLLEGE'S MEDICAL INSURANCE PROVIDER. ALL TRANSACTIONS ARE COMPLETED ON AN ARM'S LENGTH BASIS. 0 X 2 9419 EXPERT OPINION/APPRAISAL X 8195 EXPERT OPINION X 5 16455 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 TWO CURRENT TRUSTEES HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 3 THE COLLEGE OUTSOURCES ITS FOOD SERVICE TO METZ. THE COLLEGE PARTNERED WITH BARNES AND NOBLE FOR BOOKSTORE OPERATIONS EFFECTIVE 7-1-12. FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE OF THE BOARD REVIEWED THE COMPLETE 990 IN DETAIL DURING THE MARCH AUDIT COMMITTEE MEETING. A FULL COPY OF THE 990 WAS POSTED ON THE COLLEGE'S PORTAL FOR THE FULL BOARD'S REVIEW PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED ANNUALLY. IN THE CASE OF SENIOR MANAGEMENT, INSTITUTIONAL CONFLICT OF INTEREST POLICY / FORM IS DISTRIBUTED AS PART OF THE ANNUAL EVALUATION PROCESS. THE COMPLETED FORM IS REVIEWED AND SIGNED OFF BY THE PRESIDENT. IN THE CASE OF THE BOARD, INCLUDING THE PRESIDENT, THE TRUSTEESHIP COMMITTEE DEVELOPED A FORM, WHICH IS SCHEDULED TO BE COMPLETED ANNUALLY. LANGUAGE ON THE FORMS WAS MODIFIED IN 2010 TO BETTER REFLECT IRS FORM 990 DEFINITIONS / REQUIREMENTS. COMPLETED TRUSTEE FORMS ARE REVIEWED BY THE EXECUTIVE ASSISTANT TO THE PRESIDENT, AND MEMBERS OF THE TRUSTEESHIP COMMITTEE. MEMBERS OF THE TRUSTEESHIP COMMITTEE NOTE ANY RESPONSES THAT REQUIRE ATTENTION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF PRESIDENT AND VPS IS REVIEWED ANNUALLY BY COMPENSATION SUBCOMMITTEE OF BOARD TO ENSURE THAT COMPENSATION DOES NOT EXCEED FAIR MARKET VALUE. EXTERNAL BENCHMARK DATA FROM CUPA-HR IS SHARED AS A PART OF THIS REVIEW. COMPENSATION SUBCOMMITTEE MAKES THE DETERMINATION AND THE PROCESS IS NOTED IN MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE AT 101 NORTH COLLEGE AVENUE UPON REQUEST. FORM 990, PART VII: THE FOLLOWING TRUSTEES ARE ALSO ON THE FACULTY OF LEBANON VALLEY COLLEGE WORKING FULLTIME DURING THE ACADEMIC YEAR. COMPENSATION REPORTED ON PART VII RELATES TO THEIR FACULTY POSITION: - RENEE LAPP NORRIS - MICHAEL PITTARI - JEFFREY ROBBINDS - MARC HARRIS CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -1,319,728. CHANGE IN CASH SURRENDER VALUE 20,256. TOTAL TO FORM 990, PART XI, LINE 5: -1,299,472. FORM 990, PART VI, LINE 14: OUR GOAL IS TO HAVE A FORMAL WRITTEN RETENTION POLICY FOR THE ENTIRE CAMPUS. CURRENTLY, MANY DEPARTMENTS HAVE A POLICY FOR THEIR DEPARTMENT - FOR EXAMPLE, WE HAVE A RETENTION POLICY IN THE BUSINESS OFFICE FOR THE VARIOUS ACCOUNTING DOCUMENTS AND FINANCE IS CURRENTLY FORMALLY DOCUMENTING THEIR POLICY.