2012-02-22T08:56:22-07:00 2011-06-30 990 2010-07-01 540505922 LYNCHBURG COLLEGE LYNC 4345448428 1501 Lakeside Drive Lynchburg VA 24501 Steve Bright 4345448428 2012-02-15 2010 2016-02-24 21:20:13Z Steve Bright 1501 Lakeside Drive Lynchburg VA 24501 131799191 0 X www.lynchburg.edu X 1903 VA The College offers distinctive undergraduate and graduate programs that reflect its commitment to teaching, scholarship, and service to the greater community. The mission of the College is to develop students to have strong character and balanced perspectives and to prepare them for intelligent and wholehearted participation in a global society and for effective leadership in the civic, professional, spiritual, and social dimensions of life. The College provides students with a wide range of rigorous educational experiences that are grounded in the liberal arts and sciences, enhanced by professional studies, and nurtured by a residential community. The College serves the region through its outreach programs, cultural opportunities, resources, services, and the expertise of faculty, staff, and students. 37 33 1856 0 122607 0 3841062 4314459 74749256 78836377 -2444770 4028023 93668 122826 76239216 87301685 23944395 25132421 0 0 32638649 34778030 7237 48000 1655997 22855048 22932702 79445329 82891153 -3206113 4410532 143724257 156087344 37596486 36097797 106127771 119989547 The College offers distinctive undergraduate and graduate programs that reflect its commitment to teaching, scholarship, and service to the greater community. The mission of the College is to develop students to have strong character and balanced perspectives and to prepare them for intelligent and wholehearted participation in a global society and for effective leadership in civic, professional, spiritual, and social dimensions of life. 0 0 45496992 25132421 0 Includes student instruction and scholarships. For the Fall 2010, there were 2,197 undergraduates, 446 graduates for a total enrollment of 2,643 students. 11503831 0 0 Includes auxiliary enterprises (such as the dining services, student housing, bookstore, and other snack bar areas). 8705337 0 0 Includes other institutional services (such as information technology, interest expense, and other allocated expenses) that support student instruction. 7726296 0 0 Includes Student Services which consists of enrollment services, registrar, health and counseling services, student activities, sports, and recreation. 3548631 0 0 Includes Academic Support which consists of the College's library, art gallery, academic advising, career services, and other support services for the academic divisions. 11274927 0 0 76981087 1 1 0 1 0 0 1 1 0 1 1 0 0 0 1 0 1 0 1 0 1 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 1 188 0 1 1856 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 37 33 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 VA X Steve Bright 4345448428 1501 Lakeside Drive Lynchburg VA 24501 Thomas L Booker 1 X 0 0 0 Alan A Burgess 1 X 0 0 0 Howard M Butler 1 X 0 0 0 Fred R Cawthorne 1 X 0 0 0 Charles P Collings 1 X 0 0 0 Stephen L Crank 1 X 0 0 0 Richard O Danker 1 X 0 0 0 MaryJane Tousignant Dolan 1 X 0 0 0 Julie P Doyle 1 X 0 0 0 Douglas D Drysdale 1 X 0 0 0 Rebecca DuFour 1 X 0 0 0 Elena Edwards 1 X 0 0 0 Mary S Elcano 1 X 0 0 0 Stuart C Fauber 1 X 0 0 0 Pauline B Flint 1 X 0 0 0 Suzanne F Flynn 1 X 0 0 0 Mary H Futrell 1 X 0 0 0 Roger H Green 1 X 0 0 0 Yuille Holt III 1 X 0 0 0 Terry H Jamerson 1 X 0 0 0 Yong H Kim 1 X 0 0 0 Andrew J Larsen 1 X 0 0 0 Nathanial X Marshall 1 X 0 0 0 Philip G Mazzara 1 X 0 0 0 Jay W Newkirk 1 X 0 0 0 Ellen G Nygaard 1 X 0 0 0 Kathryn M Pumphrey 1 X 0 0 0 Mary Rose Ragsdale 1 X 0 0 0 Roy A Roberson Jr 1 X 0 0 0 Rosel H Schewel 1 X 0 0 0 Walker P Sydnor Jr 1 X 0 0 0 Andrew J Tatom III 1 X 0 0 0 Thomas A Walker 1 X 0 0 0 Catherine G West 1 X 0 0 0 Charles B White 1 X 0 0 0 Tucker W Withers 1 X 0 0 0 Percy Wootton 1 X 0 0 0 Kenneth R Garren 60 X 321754 0 45702 Julius A Sigler Jr 60 X 122572 0 17269 John G Eccles 50 X 113377 0 18915 Rita A Detwiler 45 X 115710 0 23099 Denise A McDonald 60 X 117688 0 23381 Edward A Polloway 60 X 105671 0 15602 Stephen E Bright 55 X 138005 0 38547 John C Lewis 60 X 118742 0 20067 David Murphy 50 X 114703 0 22383 Howard Ramagli 40 X 112501 0 15651 Kevin Brueilly 60 X 120878 0 21433 Atul Gupta 40 X 108950 0 20766 1610551 0 282815 23 0 1 0 Commonfund 15 Old Danbury Road Wilton CT 068978012 Investment Services 535416 Dominion Seven Architects 1000 Jefferson Street Suite 2A Lynchburg VA 24504 Architectual Services 351975 L G Flint Inc 3008 Forest Hills Circle Lynchburg VA 24501 Construction 732759 Ameresco Inc 111 Speen Street 4th Floor Framingham MA 01701 Energy Services 2744871 J E Jamerson & Sons Inc P O Box 395 Appomattox VA 24522 Construction 3036862 9 0 0 23174 0 685507 3605778 274842 4314459 Tuition and Fees 611310 61943124 61943124 0 0 Auxiliary Enterprises 900099 14658989 14658989 0 0 Miscellaneous Revenue 900099 2234264 2234264 0 0 0 0 0 0 78836377 1420314 0 0 1420314 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 47073648 3750 44465438 4251 2608210 -501 2607709 0 0 2607709 28036 23174 27817 219 0 219 0 0 0 0 0 0 0 0 0 0 0 0 Auxiliary - Catering 722320 122607 0 122607 0 0 0 0 0 122607 87301685 78836377 122607 4028242 0 0 25004691 25004691 127730 127730 0 0 1272063 457488 598727 215848 0 0 0 0 25698765 23143357 1741540 813868 1946878 1755835 129937 61106 3811562 3513799 201441 96322 2048762 1800452 171891 76419 0 0 0 0 51459 0 51459 0 90431 0 90431 0 0 0 0 0 48000 48000 535416 0 535416 0 0 0 0 0 60082 26095 33887 100 1322609 1096059 108901 117649 1376091 1331599 10329 34163 0 0 0 0 2900685 2813664 58014 29007 912341 712105 104967 95269 0 0 0 0 0 0 0 0 1238346 1238346 0 0 0 0 0 0 3796858 3796858 0 0 88745 0 88745 0 Food Purchases-Dining Services 1979460 1979460 0 0 Indirect Cost Alloc-Auxiliary/Other 3012435 3012435 0 0 Bookstore Purchases 1192577 1192577 0 0 Other Miscellaneous 4375167 3978537 328384 68246 82891153 76981087 4254069 1655997 22331 21874 8826682 4289498 2266137 2679117 560310 771581 0 0 0 0 1651274 1634455 528027 606873 319673 241739 108120099 45394375 57538563 62725724 71659563 82762803 0 0 0 0 0 0 351697 353680 143724257 156087344 6875298 6273327 0 0 1199616 1358438 19983715 24103706 0 0 0 0 6688602 1665843 0 0 2849255 2696483 37596486 36097797 X 45933199 49555326 20591549 39797926 39603023 30636295 106127771 119989547 143724257 156087344 X 4410532 9451244 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 3050 3050 0 SchC_P2B_S00_L01 Schedule C, Part II-B, Line 1 The College is a member of the Council of Independent Colleges in Virginia (CICV) which is an association of 27 Virginia independent colleges and universities which works to promote the interests of non-profit, independent higher education in Virginia. The CICV monitors legislative and regulatory actions which affect Virginia private colleges. CICV staff members are present in Richmond during the General Assembly session and review proposed legislation for potential impact on member institutions. Where appropriate, CICV seeks the passage of legislation which benefits its institutions and students. CICV also maintains a close working relationship with various administrative agencies which regulate and interact with higher education in Virginia. They also coordinate the advocacy of Virginia's independent colleges for increased funding for TAG and other programs assisting students at independent colleges. CICV estimates that 11.5% of the College's 10-11 annual membership dues ($26,524) were used for lobbying expenses. X 1 470 0 0 0 1 1 0 0 1 9500 9500 0 0 X X X X 1 67588783 1346038 12154581 892640 1187773 0 79008989 62177036 1013976 5724299 373692 952836 0 67588783 82010777 784675 -18381644 776669 1460103 0 62177036 0.2 0.76 0.04 1 0 0 1832444 1832444 0 81491525 33275805 48215720 0 2900085 134653 2765432 0 13761415 9590492 4170923 0 8134630 2393425 5741205 62725724 Debt Issuance costs 353680 353680 U.S. Government grants refundable 1075202 Interest rate swap agreement liability 1621281 2696483 87301685 82891153 4410532 9517301 0 0 0 -66057 9451244 13861776 71084873 9517301 0 0 -25198478 -15681177 86766050 535416 219 535635 87301685 57223097 0 0 0 -219 -219 57223316 535416 25132421 25667837 82891153 SchD_P02_S00_L05 Schedule D, Part II, Line 5 The Virginia Outdoors Foundation has the responsibility to enter the property from time to time (usually on an annual basis) for purposes of inspection and enforcement of the terms of the easement after permission from or reasonable notice is given to the College. The Foundation has the right to bring an action at law or in equity to enforce the restrictions as outlined in the easement. This right specifically includes the right to require restoration of the property to a condition of compliance with the terms of the easement as existed on the date of the gift of the easement. A report is received from the Virginia Outdoors Foundation detailing their visit and addressing any issues that may arise. The College has a full-time Director of the Claytor Nature Study Center (the farm) that is responsible for the general direction, vision, and management of the Center. The Director is also the person who is responsible for working with the Virginia Outdoors Foundation. SchD_P02_S00_L09 Schedule D, Part II, Line 9 The Virginia Outdoors Foundation easement was included with a gift of a 470 acre farm received in 1998. The gift of the farm was substantiated by a real estate appraisal report and recorded as an asset to the College on the Statement of Financial Position and as gift revenue in the Statement of Activities when received. SchD_P03_S00_L04 Schedule D, Part III, Line 4 The College's art collection includes paintings, drawings, prints, and sculpture by Pierre Daura, works by Amherst County folk artist Queena Dillard Stovall, and other numerous works by other American and European artists. These collections are used to further the educational purpose of the College through lectures, gallery talks, and exhibitions on campus. SchD_P05_S00_L04 Schedule D, Part V, Line 4 The College's endowment includes (1) Funds that offer a comprehensive financial aid program for students demonstrating financial need, academic merit, and special leadership traits, (2) Funds that support Distinguished chairs, professorships, and special lectureships, (3) Funds that offer numerous special programs to benefit students, faculty, staff and the broader community which are diverse in focus and create unique learning opportunities, and (4) Funds that offer financial support to the College's annual operating budget. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Includes Change in the value of split-interest agreements. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Includes Financial Aid ($25,132,421) and Change in the value of split interest agreements ($66,057). SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Includes Special Events. SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d Includes Special Events. SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Includes Financial Aid. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SchE_P01_S00_L03 Schedule E, Part I, Line 3 The College has publicized its notice of non-discriminatory policy of students through newspaper media. Also, the College's website includes a statement that Lynchburg College does not discriminate on the basis of age, race, religion, disability, gender, sexual orientation, or national or ethnic origin. SchE_P01_S00_L06 Schedule E, Part I, Line 6 Lynchburg College was the recipient of various grants and contracts from the Federal Government supporting student financial aid and other College programs in the 2010-11 fiscal year. These federal awards were received from the U.S. Department of Education, Environmental Protection Agency, Department of Commerce, and the Corporation for National and Community Service. 1 North America (including Canada and Mexico, but not the United States) 0 0 Program Services Study abroad to study French language 10442 Central America and the Caribbean 0 0 Program Services St Lucia Feasibility Study 4179 Central America and the Caribbean 0 0 Program Services Educational Training 2609 East Asia and the Pacific 0 0 Program Services Recruitment 708 Central America and the Caribbean 0 0 Program Services Financial Aid to students 55810 East Asia and the Pacific 0 0 Program Services Financial Aid to students 57920 Russia and the newly independent States 0 0 Program Services Financial Aid to students 14000 0 0 145668 Non-funded Financial Aid Central America and the Caribbean 3 55810 Applied to student's tuition and fees account 0 Non-funded Financial Aid East Asia and the Pacific 2 57920 Applied to the student's tuition and fees account 0 Non-funded Financial Aid Russia and the newly independent States 1 14000 Applied to the student's tuition and fees account 0 0 0 0 0 0 0 SchF_P01_S00_L02 Schedule F, Part I, Line 2 Lynchburg College does not provide grants and other assistance to organizations or entities outside the United States. Financial aid is awarded to students who attend the College and who live outside of the United States based upon need and merit and is applied to each student's billed tuition and fees account. The College uses the College Board's PowerFAIDS software to manage its financial aid database and awarding procedures. X X X X X X X 1 Kughn & Associates 3015 Sedgewick Drive Lynchburg VA 24503 Campaign Consulting 0 0 48000 -48000 0 48000 -48000 Golf Tournament-Shellenberger 13415 2905 10510 0 0 4224 2706 0 3358 Golf Tournament-Holland 12996 6396 6600 0 0 4544 3033 0 466 3 24799 13873 10926 0 0 5328 748 0 3410 51210 23174 28036 0 0 14096 6487 0 7234 27817 219 1 Non-funded Financial Aid 1927 24222828 0 Funded Financial Aid 62 781863 0 SchI_P01_S00_L02 Schedule I, Part I, Line 2 Within the limits of available resources, the College makes every effort to make financial aid opportunities available to needy and academically eligible students. Traditional age students must be enrolled in a full-time undergraduate degree program to be considered for College academic scholarships, grants, and/or need-based financial aid. With the exception of some academic scholarships, students who wish to apply for grants, loans, or work-study should submit the Free Application for Federal Student Aid (FAFSA). Awards are considered on the basis of financial need and/or a student's academic profile. Awards are packaged using a combination of grants and scholarships, loans and work-study assignments. Students must be in good academic and social standing and achievement and the minimum quality point average required. The College uses the College Board's PowerFAIDS software to manage our financial aid database and awarding procedures. SchI_P03_S00_L00 Schedule I, Part III Part III (a) Non-funded Financial Aid is funded from the College's unrestricted resources. Funded Financial Aid consists of the proceeds of endowed scholarships and annual gifts that were donated to help students pay for the cost of their education. Various state grants also provide scholarships to assist students with paying for their education. Part III (b) 98% of traditional students at the College (2,030) received some form of Financial Aid. Therefore, the number of recipients was estimated by multiplying 98% times 2,030 students or 1,989 students and then prorating 1,989 students to Non-funded and Funded aid. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 Kenneth R Garren 267448 0 52185 0 2121 0 0 0 45702 0 367456 0 0 0 Stephen E Bright 148579 0 0 0 -10574 0 0 0 38548 0 176553 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a As outlined in the President's contract with the College, the following items were provided: (1) the President's spouse can accompany him on trips and perform bona fide and substantial school-related business activity; (2) the President is required to live in a house provided by the College as part of his job as President. The house is physically located on the College's campus. SchJ_P01_S00_L03 Schedule J, Part I, Line 3 The Compensation Committee of the Board of Trustees approves the President's written employment contract on an annual basis. The approved written employment contract is approved by the full board and documented in the minutes. As deemed necessary by the Compensation Committee, an independent compensation consultant is used for input regarding the President's salary level as compared to other comparable positions. Industrial Development Authority of the City of Lynchburg Virginia 541225193 55123PBMI 2003-07-16 11937335 Construction & equipping of an academic bldg & student housing 0 0 0 Economic Development Authority of the City of Lynchburg Virginia 541225193 2010-02-23 4680715 Renov & equipping of various bldgs for the purpose of reducing College's energy costs 0 0 0 Virginia College Building Authority 541249154 2010-12-21 8837932 Provides funds to refund a prior issue dtd 1/22/04 and other debt obligations 0 0 0 1325000 0 11877388 0 0 0 108399 0 0 11768989 0 0 2005 0 0 1 1 345486 0 4680715 0 0 0 53208 0 0 4079096 0 548411 2011 0 0 0 1 157455 0 8837932 0 0 0 100088 0 0 0 8737844 0 1 0 1 1 0 1 0 0 1 0.0028 0 0.0028 1 0 0 0 0 1 0 0 0 1 0 1 0 0 1 0.0007 0 0.0007 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 SunTrust Bank 24 0 0 0 0 0 SchK_P02_S00_L03 Schedule K, Part II, Line 3 Column A-The difference between the issue price ($11,937,335) and the total proceeds of the issue ($11,877,388) relates to an Underwriter's discount (-$112,675) and accrued interest ($52,728). Scott Insurance Trustee is President of the Company 178934 Commercial Insurance Provider 0 L G Flint Inc Trustee's husband and son are owners/officers of the company 532392 Construction on campus 0 J E Jamerson & Sons Inc Trustee's husband is President of the Company 1834536 Construction 0 Roberson Financial Services Trustee is the Owner of the Company 128507 Employee's dental insurance provider 0 Annette Eccles Family member of John Eccles, College Officer 18000 Compensation paid as employee of the College 0 Tyler Eccles Family member of John Eccles, College Officer 27083 Compensation paid as employee of the College 0 Janet Sigler Family member of Julius Sigler, College Officer 36384 Compensation paid as employee of the College 0 X 2 9500 FMV-Opinion of an expert X 7024 FMV-Opinion of an expert X 247 FMV X 22 238018 Avg hi/low on gift date X 1 1000 FMV-Opinion of an expert X Cameras & Equipment 10 5650 FMV X Furniture 3 2499 FMV X Miscellaneous 27 8417 FMV 0 0 0 0 F990_P06_S0B_L11a Form 990, Part VI, Section B, Line 11a The Form 990 is internally prepared by the Senior Accountant-Endowment & Investments and reviewed by the Associate VP and VP for Business and Finance. The Form 990 is then sent to be reviewed by the Trustees which include the Chair of the Board, the Chair of the Budget and Finance Committee, and all members of the Audit Committee who read over the document and notify the Business Office of their approval within three days. The completed 990 is then emailed (or sent by overnight delivery) to all Trustees. The Business Office executes and submits the 990 Form to the IRS. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c As outlined in the College's By-Laws, the Board prohibits conflict of interest by its members and College officers in particular matters under consideration by the Board, in accordance with the Conflict-of-Interest Policy for trustees and College Officers. The Board asks each Trustee and each College Officer to (1) review the Conflict-of-Interest Policy annually, (2) disclose any possible personal, familial or business relationships that reasonably could give rise to a conflict involving the College, and (3) acknowledge by his or her signature that he or she is in compliance with the letter and spirit of this policy. If a conflict is suspected or confirmed, the matter shall be discussed between the committee chair, the board chair, and the trustee in question, to determine if any specific vote by the trustee should be recanted and if said trustee should be involved in any future discussion on that topic. Should the matter not be resolved by the committee chair, the board chair, and the trustee in question, ultimate enforcement of any conflict will be determined by the Executive Committee as may be appropriate. The completed Conflict-of-Interest forms are monitored and maintained in the President's Office. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The compensation for all faculty and staff except the College President is set on an annual basis in keeping with the College's Salary Plan that was adopted after a year long study in 2005-06. The President's salary is set by the College's Compensation Committee. The committee is led by the Board Chair and includes several other Board members who have been appointed to the committee by the Board Chair. The purpose of the committee is to review the President's job performance and determine the appropriate salary to recommend to the full Board of Trustees. The Trustees meet in Executive session during the annual May meeting to receive the report of the Compensation Committee and act on their recommendation. The actions of the Board of Trustees while in Executive seesion are documented in the minutes of the meeting. In October 2010, the College obtained the services of a consultant to analyze the President's compensation package with presidential compensation data from approximately ten (10) to fifteen (15) comparator colleges. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 The documents are made available to the public upon request to the President of the College or the VP for Business and Finance. F990_P11_S00_L05 Form 990, Part XI, Line 5 This figure includes Net Unrealized Gains ($9,517,301) and Change in the Value of Split Interest Agreements (-$66,057).