2012-05-04T14:52:02-05:00 2011-06-30 BROWN EDWARDS & COMPANY LLP 319 MCCLANAHAN ST ROANOKE VA 24014 990 2010-07-01 540506314 HOLLINS UNIVERSITY CORPORATION HOLL 5403626343 PO BOX 9658 ROANOKE VA 240201658 KERRY EDMONDS 5403626343 2012-05-04 1 GARY R DUERK 5403450936 2010 2016-02-24 21:20:13Z KERRY EDMONDS PO BOX 9658 ROANOKE VA 240201658 48156763 0 X WWW.HOLLINS.EDU X 1842 VA OPERATION OF A PRIVATE, NON-PROFIT UNIVERSITY 25 25 1057 7 71371 66149 23663553 10573399 31265461 32119572 2355134 4355793 558336 411814 57842484 47460578 11042783 11549383 0 0 531328 558868 0 0 1101176 31671448 32308942 43245559 44417193 14596925 3043385 200437374 222959116 3716151 4928261 196721223 218030855 X HOLLINS UNIVERSITY IS AN INDEPENDENT LIBERAL ARTS UNIVERISTY DEDICATED TO ACADEMIC EXCELLENCE AND HUMANE VALUES. HOLLINS UNIVERSITY OFFERS UNDERGRADUATE LIBERAL ARTS EDUCATION FOR WOMEN, SELECTED GRADUATE PROGRAMS FOR MEN AND WOMEN, AND COMMUNITY OUTREACH INITIATIVES. THE HOLLINS COMMUNITY SUSTAINS TALENTED STUDENTS ENGAGED IN CHALLENGING STUDY, AND PRODUCTIVE SCHOLARS AND ARTISTS DEVOTED TO TEACHING AND TO THE ADVANCEMENT OF KNOWLEDGE. THE HALLMARKS OF A HOLLINS EDUCATION ARE CREATIVITY AND EFFECTIVE SELF-EXPRESSION, PROBLEM SOLVING AND CRITICAL THINKING SKILLS, AND INDEPENDENT INQUIRY AND THE FREE EXCHANGE OF IDEAS. OUR UNIVERSITY MOTTO, LEVAVI OCULOS, CALLS US TO LEADERSHIP AND SERVICE IN ACCORD WITH THE HOLLINS VALUES AND TRADITIONS. 0 0 36375440 11549383 32460015 HOLLINS UNIVERSITY IS A NONPROFIT INSTITUTION OF HIGHER EDUCATION OFFERING UNDERGRADUATE, GRADUATE, EXCHANGE, AND ABROAD EDUCATION PROGRAMS. THESE PROGRAMS PREPARE OUR STUDENTS FOR LIVES OF ACTIVE LEARNING AND ACHIEVEMENT. 36375440 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 204 0 1 1057 1 1 1 1 UK FR 0 0 0 0 1 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X X KERRY EDMONDS 5403626343 HOLLINS UNIVERSITY PO BOX 9658 ROANOKE VA 240201658 NANCY O GRAY 40.00 X X 286872 0 49524 CLARK HOOPER BARUCH 3.00 X 0 0 0 SUZANNE ALLEN REDPATH 3.00 X X 0 0 0 WILLIAM C WILEY 3.00 X 0 0 0 SUSAN DOBBS 3.00 X 0 0 0 CLAUDIA WATKINS BELK 3.00 X 0 0 0 MIRIAM FARMAKIS 3.00 X 0 0 0 HOLLY HENDRIX 3.00 X 0 0 0 THOMAS BARRON 3.00 X 0 0 0 MARY JOSEPH 3.00 X 0 0 0 LINDA LORIMER 3.00 X 0 0 0 CYNTHIA HALE 3.00 X 0 0 0 JUDY LAMBERT 3.00 X 0 0 0 ALEXANDRA TROWER LINDSEY 3.00 X 0 0 0 WYNDHAM ROBERTSON 3.00 X 0 0 0 JEAN RUTHERFOORD 3.00 X 0 0 0 ELIZABETH MCDONNELL 3.00 X 0 0 0 SUZANNE S WHITMORE 3.00 X X 0 0 0 DEE MARLEY 3.00 X 0 0 0 HAROLD MCLEOD III 3.00 X 0 0 0 ANNE FAIRCLOTH 3.00 X 0 0 0 SANDRA FRAZIER 3.00 X 0 0 0 CHARLOTTE PORTERFIELD 3.00 X 0 0 0 CAMERON VOWELL 3.00 X 0 0 0 WYCLIFFE GOODLOE MCCLURE 3.00 X 0 0 0 SALLIE MORIAN 3.00 X 0 0 0 KERRY EDMONDS 40.00 X 128052 0 13636 BROOK DICKSON 40.00 X 57022 0 8867 JEANINE STEWART 40.00 X 139889 0 10378 PATRICIA HAMMER 40.00 X 101847 0 7565 RICHARD DILLARD 40.00 X 100906 0 13179 WILLIAM WHITE 40.00 X 122622 0 6878 937210 0 110027 6 0 1 0 SODEXHO MANAGEMENT SERVICES PO BOX 9660 ROANOKE VA 24020 FOOD AND BOOKSTORE SERVICES 2322294 R L PRICE CONSTRUCTION INC 2166 SALEM INDUSTRIAL DRIVE SALEM VA 24153 CONSTRUCTION 906573 CARILION HEALTHCARE CORPORATION PO BOX 40032 ROANOKE VA 240220032 HEALTH CARE SERVICES 348199 TEMPLETON - VEST INC PO BOX 13465 ROANOKE VA 24034 ELECTRICAL SERVICES 168274 MW CONSTRUCTION PO BOX 634 TROUTVILLE VA 241750634 CONSTRUCTION 147330 8 439163 10134236 10573399 STUDENT FEES 611600 25615633 25615633 DORM & OTHER RENTS 721000 3564722 3564722 CAFETERIA/DINING HALL 722320 2239994 2225461 14533 SPONSORED PROGRAMS 621110 468381 468381 OTHER AUX. ENTERPRISES 621110 230842 230842 32119572 3659608 3659608 1392370 696185 696185 696185 696185 OTHER INCOME 900099 411814 354976 56838 411814 47460578 32460015 71371 4355793 10932399 10932399 616984 616984 558868 558868 2368248 2368248 INSTRUCTIONAL 12587669 12587669 AUXILLIARY & STUDENT SE 6640130 6640130 INSTITUTIONAL SUPPORT 5225466 4124290 1101176 ACADEMIC SUPPORT & RESE 3230010 3230010 OPERATIONS & MAINTENANC 2257419 2257419 44417193 36375440 6940577 1101176 10184943 12314567 16018391 12483868 1347882 648445 2141966 2215983 94779120 53406248 40739079 41372872 103663015 122286900 26342098 31636481 200437374 222959116 1439579 2560582 605428 694943 1671144 1672736 3716151 4928261 X 48322097 52289877 51390008 64099630 97009118 101641348 196721223 218030855 200437374 222959116 X 3043385 18266247 X 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 1360 1360 0 EXPLANATION OF OTHER LOBBYING ACTIVITIES: PART II-B, LINE 1I: THE UNIVERSITY IS A MEMBER OF THE COUNCIL OF INDEPENDENT COLLEGES IN VIRGINIA (CICV), WHICH IS AN ASSOCIATION OF 27 VIRGINIA INDEPENDENT COLLEGES AND UNIVERSITIES. THE CICV WORKS TO PROMOTE THE INTERESTS OF NON-PROFIT, INDEPENDENT HIGHER EDUCATION IN VIRGINIA. CICV COORDINATES THE ADVOCACY OF VIRGINIA'S INDEPENDENT COLLEGES FOR INCREASED FUNDING FOR THE STATE'S TUITION ASSISTANCE GRANT (TAG) AND OTHER PROGRAMS ASSISTING STUDENTS AT INDEPENDENT COLLEGES. CICV ALSO MONITORS LEGISLATIVE AND REGULATORY ACTIONS WHICH AFFECT VIRGINIA PRIVATE COLLEGES. IN FY 2010-2011, THE UNIVERSITY PAID $11,823 IN MEMBERSHIP DUES WHICH WAS BASED UPON STUDENT POPULATION. THE CICV CALCULATED A GOOD-FAITH ESTIMATE OF THE PERCENTAGE OF MEMBERSHIP DUES THAT WILL BE USED FOR LOBBYING DURING FY 2010-2011 AS 11.5% PERCENT. X X X 0 136862681 4988307 22579476 1688598 4160886 138888 158442092 121819174 12262772 9058100 1727601 4422580 127184 136862681 128179849 14181347 -13863360 1910504 4881321 141386 121819174 0.04080 0.93810 0.02110 0 0 1784563 1784563 68927429 34671586 34255843 3500845 2561452 939393 19642548 16173210 3469338 923735 923735 41372872 OTHER ALTERNATIVE INVESTMENTS 31636481 F 31636481 CHARITABLE GIFT ANNUITY & TRUST AGREEMENT 873682 U.S. GOVERNMENT GRANTS REFUNDABLE 799054 1672736 47460578 44417193 3043385 18532405 -266158 18266247 21309632 54177442 18532405 18532405 35645037 11815541 11815541 47460578 32867810 0 32867810 11549383 11549383 44417193 PART III, LINE 1A: HOLLINS UNIVERSITY DOES NOT HAVE A FOOTNOTE IN ITS FINANCIAL STATEMENTS REGARDING THE ELECTION UNDER SFAS 116, NOT TO REPORT IN ITS REVENUE STATEMENT AND BALANCE SHEET ITS COLLECTIONS OF ART, HISTORICAL TREASURES AND OTHER SIMILAR ASSETS, BECAUSE OF MATERIALTIY. PART III, LINE 4: THE MUSEUM HOUSES A DEDICATED PERMANENT COLLECTION AND EDUCATIONAL RESOURCE CENTER, WHICH IS AVAILABLE TO STUDENTS, TEACHERS, AND OTHER PATRONS WHO ARE INTERESTED IN FURTHERING THEIR STUDY OF ART IN THE MUSEUM'S PERMANENT COLLECTION. IT ALSO FUNCTIONS AS A SMALL EDUCATIONAL CENTER FOR GROUPS AND CLASSES, PROVIDING A FORUM FOR DISCUSSION, WORKSHOPS, AND PROJECTS BASED ON EXHIBITIONS. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE UNIVERSITY INTENDS TO USE THE ENDOWMENT FUNDS FOR SCHOLARSHIPS, STUDY ABROAD OPPORTUNTIES, CAPITAL IMPROVEMENTS, FACULTY COMPENSATION, FACULTY AND STUDENT RESEARCH AND OTHER OPERATING NEEDS BASED ON BOARD APPROVED SPENDING. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE INTERNAL REVENUE SERVICE HAS RULED THAT THE UNIVERSITY QUALIFIES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND, THEREFORE, IS NOT GENERALLY SUBJECT TO INCOME TAXES UNDER PRESENT TAX LAWS. MANAGEMENT BELIEVES THAT ANY INCOME TAX LIABILITY RESULTING FROM UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2011 AND 2010 WOULD NOT HAVE A SIGNIFICANT IMPACT ON THE UNIVERSITY'S RESULTS OF ACTIVITIES. THE FEDERAL FORMS 990 OF THE UNIVERSITY FOR FISCAL YEARS 2010, 2009, AND 2008 ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -266,158. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS PAID 11,549,383. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 266,158. PART XIII, LINE 4B - OTHER ADJUSTMENTS: GRANTS PAID 11,549,383. 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 HOLLINS UNIVERSITY DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS NATIONWIDE, AND FOLLOWS A RACIALLY NON-DISCRIMINATORY POLICY AS TO STUDENTS. THE UNIVERSITY INCLUDES A STATEMENT OF ITS RACIALLY NON-DISCRIMINATORY POLICY ON ITS WEBSITE AND IN ALL ITS BROCHURES AND CATALOGS DEALING WITH STUDENT ADMISSIONS, PROGRAMS, AND SCHOLARSHIPS. HOLLINS UNIVERSITY THEREFORE SATISFIES THE PUBLICITY REQUIREMENTS AS SET FORTH IN REV PROC 75-50. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 HOLLINS UNIVERITY CORPORATION RECEIVES ASSISTANCE FROM GOVERNMENTAL AGENCIES FOR STUDENT ASSISTANCE PROGRAMS. THE FOLLOWING IS A LIST OF THESE GOVERNMENT GRANTS RECEIVED: SEOG; ACADEMIC COMPETITIVENESS; FEDERAL COLLEGE WORK-STUDY; PELL GRANT PROGRAM; NATIONAL SCIENCE & MATH ACCESS; VIRGINIA TUITION ASSISTANCE GRANT; VIRGINIA COLLEGE SCHOLARSHIP ASSISTANCE; AND VIRGINIA HIGHER ED SCHOLARSHIP. 0 EUROPE 2 3 PROGRAM SERVICES INSTUCTURAL ACTIVITIES FOR STUDY ABROAD PROGRAM 824144 3 0 3 824144 0 824144 SCHOLARSHIPS AND AID FOR NON-RESIDENT AILENS. EAST ASIA & THE PACIFIC 16 304807 MONIES CREDITED TO STUDENT'S ACCOUNT SCHOLARSHIPS AND AID FOR NON-RESIDENT AILENS. SUB-SAHARAN AFRICA 2 52519 MONIES CREDITED TO STUDENT'S ACCOUNT SCHOLARSHIPS AND AID FOR NON-RESIDENT AILENS. NORTH AMERICA 4 9400 MONIES CREDITED TO STUDENT'S ACCOUNT SCHOLARSHIPS AND AID FOR NON-RESIDENT AILENS. SOUTH ASIA 5 139149 MONIES CREDITED TO STUDENT'S ACCOUNT SCHOLARSHIPS AND AID FOR NON-RESIDENT AILENS. CENTRAL AMERICA & THE CARIBBEAN 2 41172 MONIES CREDITED TO STUDENT'S ACCOUNT SCHOLARSHIPS AND AID FOR NON-RESIDENT AILENS. MIDDLE EAST AND NORTH AFRICA 3 50122 MONIES CREDITED TO STUDENT'S ACCOUNT SCHOLARSHIPS AND AID FOR NON-RESIDENT AILENS. RUSSIA & THE NEWLY INDEPENDENT STATES 1 19814 MONIES CREDITED TO STUDENT'S ACCOUNT 0 0 0 0 0 0 1 SCHOLARSHIPS (INCLUDES US & FOREIGN INDIVIDUALS) 856 10540777 SEOG 66 110359 ACADEMIC COMPETIVENESS 96 73875 FEDERAL COLLEGE WORK-STUDY 317 156388 NATIONAL SCIENCE & MATH ACCESS 17 51000 X X 1 0 X X X 0 1 0 0 0 0 0 0 0 NANCY O GRAY 284819 0 0 0 2053 0 43525 0 5999 0 336396 0 0 0 JEANINE STEWART 139889 0 0 0 0 0 10378 0 0 0 150267 0 0 0 PART I, LINE 1A THE PRESIDENT IS PROVIDED HOUSING AND HOUSEKEEPING SERVICES. THE VICE PRESIDENT OF ACADEMIC AFFAIRS IS PROVIDED HOUSING ONLY. THE PRESIDENT AND THE VICE PRESIDENT OF ACADEMIC AFFAIRS ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. X 12 20950 OPINION OF EXPERTS X 1 1000 OPINION OF EXPERTS X HORSES (3) 4 175000 OPINION OF EXPERTS X EQUESTRIAN SUPPLIES 1 2956 OPINION OF EXPERTS X HOSPITALITY 3 5159 RETAIL VALUE X LIBRARY ELECTRONICS 1 487 OPINION OF EXPERTS 4 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE PRIOR TO FILING AND A COPY OF THE 990 WAS MADE AVAILABLE TO ALL BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C PROCESS FOR CONFLICT OF INTEREST: THE SECRETARY TO THE BOARD OF TRUSTEES DISTRIBUTES THE CONFLICT OF INTEREST ANNUAL DISCLOSURE STATEMENTS TO THE TRUSTEES AND THE HUMAN RESOURCES OFFICE DISTRIBUTES THE STATEMENTS TO COVERED EMPLOYEES IN THE FALL AND EACH IS RESPONSIBLE FOR ENSURING THAT ALL DISTRIBUTED STATEMENTS ARE COMPLETED AND RETURNED TO THEIR RESPECTIVE OFFICES. WHEN A STATEMENT IS RECEIVED THAT IDENTIFIES A POTENTIAL CONFLICT THE VICE PRESIDENT FOR FINANCE & ADMINISTRATION IS NOTIFIED, WITH A COPY TO THE PRESIDENT AND CHAIR OF THE BOARD OF TRUSTEES IF IT INVOLVES A TRUSTEE. THE VPFA THEN REVIEWS THE STATEMENTS TO DETERMINE IF THERE IS A CONFLICT (IF APPROPRIATE THE VPFA MAY CONTACT LEGAL COUNSEL) AND DETERMINES AN APPROPRIATE RESOLUTION. THE PROCESS CHANGED IN MAY 2011 AND NOW THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES RECEIVES A REPORT FROM THE VPFA ON THE COMPLETED TRUSTEE STATEMENTS TO DETERMINE IF THERE ARE ANY POTENTIAL CONFLICTS AND IF SO, APPROPRIATE RESOLUTIONS ARE RECOMMENDED TO THE EXECUTIVE COMMITTEE OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR COMPENSATION REVIEW: HOLLINS UNIVERSITY PARTICIPATES IN THE ANNUAL COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION FOR HUMAN RESOURCES (CUPA-HR) ADMINISTRATIVE COMPENSATION SURVEY. THE CUPA-HR SALARY SURVEY PROVIDES THE UNIVERSITY ACCESS TO THE MOST COMPREHENSIVE COMPARABLE SALARY DATA BY ADMINISTRATIVE POSITION IN HIGHER EDUCATION. IN THE 2011 TAX YEAR THE VPFA GATHERED COMPARABLE DATA FOR THE PRESIDENT'S POSITION AND SENIOR LEADERSHIP POSITIONS USING TWO KEY COMPARISON GROUPS: (A) TWENTY-ONE (21) OF THE COUNCIL OF INDEPENDENT COLLEGES OF VIRGINIA (CICV) INSTITUTIONS THAT PARTICIPATED IN THE CUPA-HR SURVEY AND (B) ELEVEN (11) OF THE SMALLER, PRIVATE LIBERAL ARTS COLLEGES IN OUR REGION. THE SURVEY PROVIDES THE AVERAGE, MEDIAN, MINIMUM, MAXIMUM AND ADDITIONAL PERCENTILES. THE COMPARABLE SALARY DATA FOR THE PRESIDENT'S POSITION IS PROVIDED TO THE CHAIR OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES CONDUCTS A PERFORMANCE REVIEW OF THE PRESIDENT ANNUALLY. THE CHAIR SHARES THE SALARY DATA WITH THE EXECUTIVE COMMITTEE AND TAKING INTO CONSIDERATION THE PERFORMANCE REVIEW OF THE PRESIDENT, THE CHAIR AND THE EXECUTIVE COMMITTEE SET THE COMPENSATION LEVEL FOR THE PRESIDENT FOR THE YEAR. THE COMPARABLE SALARY DATA FOR THE SENIOR LEADERSHIP POSITIONS IS PROVIDED TO THE PRESIDENT. THE PRESIDENT CONDUCTS PERFORMANCE REVIEWS OF THE SENIOR LEADERS ANNUALLY. TAKING INTO CONSIDERATION THE PERFORMANCE THE INDIVIDUALS AND EVALUATING THE COMPARABLE SALARY DATA, THE PRESIDENT SETS THE COMPENSATION LEVEL FOR THE SENIOR LEADERSHIP FOR THE YEAR. FORM 990, PART VI, SECTION C, LINE 19 HOLLINS UNIVERSITY MAKES ITS IRS FORMS AVAILABLE TO THE PUBLIC THROUGH THE GUIDESTAR WEBSITE. OTHER GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 18,532,405. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -266,158. TOTAL TO FORM 990, PART XI, LINE 5: 18,266,247. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.