2012-05-10T10:25:13-05:00 2011-06-30 PARENTEBEARD LLC 400 MARKET STREET WILLIAMSPORT PA 17701 990 2010-07-01 240795965 LYCOMING COLLEGE LYCO 5703214000 700 COLLEGE PLACE WILLIAMSPORT PA 17701 MICHELLE M JONES 5703214000 2012-05-08 1 JULIUS C GREEN CPA JD 5703236023 2010 2016-02-24 21:20:13Z MICHELLE M JONES CPA 700 COLLEGE PLACE WILLIAMSPORT PA 17701 95034349 0 X WWW.LYCOMING.EDU X 1947 PA TO PROVIDE A DISTINGUISHED BACCALAUREATE EDUCATION IN THE LIBERAL ARTS. 38 34 1208 78 435917 -93446 4123000 3599784 49419000 48958109 -12804000 7495047 842000 908840 41580000 60961780 18514000 19604652 0 0 16955000 16760453 0 0 867918 14424000 15209055 49893000 51574160 -8313000 9387620 187089000 215762044 38561000 38182789 148528000 177579255 X THE MISSION OF LYCOMING COLLEGE IS TO PROVIDE A DISTINGUISHED BACCALAUREATE EDUCATION IN THE LIBERAL ARTS. THIS IS ACHIEVED WITHIN A COEDUCATIONAL, SUPPORTIVE, RESIDENTIAL SETTING THROUGH PROGRAMS THAT DEVELOP COMMUNICATION AND CRITICAL THINKING SKILLS; FOSTER SELF-AWARENESS WHILE INCREASING RECEPTIVITY TO NEW CONCEPTS AND PERSPECTIVES; EXPLORE LITERARY AND SCIENTIFIC TRADITIONS; CULTIVATE AN AESTHETIC SENSIBILITY; ELICIT SOCIAL RESPONSIBILITY; PROMOTE RACIAL INCLUSIVENESS, GENDER EQUALITY, AND AN APPRECIATION OF CULTURAL DIVERSITY; AND PRODUCE LEADERSHIP FOR THE INSTITUTIONS OF SOCIETY. EACH STUDENT IS ENCOURAGED TO DEVELOP AND STRENGTHEN VIRTUES AND TRAITS OF CHARACTER THAT ENABLE, ENNOBLE, AND EMANCIPATE THE HUMAN SPIRIT WHILE DEEPENING COMMITMENT TO THOSE VALUES THAT UNDERGIRD CIVILIZATION. 0 0 42727257 19604652 49237117 LYCOMING COLLEGE IS A FOUR-YEAR LIBERAL ARTS BASED, CO-EDUCATIONAL, INDEPENDENT COLLEGE WHOSE PRIMARY FUNCTION IS THE PRESENTATION OF FORMAL INSTRUCTION. THE COLLEGE HAS A REGULAR FACULTY, A REGULARLY SCHDULED CURRICULUM (CONSISTING OF FALL, SPRING, MAY AND SUMMER TERMS), AND A REGULARLY ENROLLED STUDENT BODY IN ATTENDANCE AT ITS CAMPUS LOCATED IN WILLIAMSPORT, PENNSYLVANIA. THE COLLEGE'S AREAS OF CONCENTRATION INCLUDE BACHELOR OF ARTS DEGREES IN 32 MAJOR FIELDS AND BACHELOR OF SCIENCE DEGREES IN 4 MAJOR FIELDS. PROGRAM SERVICES OF THE COLLEGE INCLUDE THE COST OF INSTRUCTION, ACADEMIC SUPPORT, STUDENT SERVICES, INSTITUTIONAL SUPPORT AND SCHOLARSHIPS. THE COST OF INSTRUCTION INCLUDES ALL EXPENSES CONTRIBUTING DIRECTLY TO THE PRESENTATION OF FORMAL INSTRUCTION FOR THE 36 AFOREMENTIONED MAJOR FIELDS. ACADEMIC SUPPORT IS ALL OF THE EXPENSES RELATED TO THOSE AREAS OF THE COLLEGE SUCH AS THE COLLEGE LIBRARY, COMPUTER CENTER, AND THE INSTITUTION FOR MANAGEMENT STUDIES. STUDENT SERVICES ARE ALL OF THE EXPENSES SPECIFICALLY RELATED TO PROVIDING "OUR CUSTOMER", THE STUDENT, WITH A COMPLETE COLLEGE EXPERIENCE. SUCH AREAS WOULD INCLUDE THE REGISTRAR, CAREER SERVICES, HEALTH SERVICES, RECREATION CENTER, ATHLETICS, COUNSELING SERVICES, ADMISSIONS, FINANCIAL AID, RELIGIOUS ACTIVITIES, OFFICE OF STUDENT PROGRAMS, AND THE DEAN OF STUDENTS. INSTITUTIONAL SUPPORT INCLUDES ALL EXPENSES OF MAINTAINING THE CAMPUS FACILITIES AND PROVIDING FOR ITS EMPLOYEES, SUCH AS BUILDINGS AND GROUNDS, SECURITY, OFFICE OF THE PRESIDENT, TREASURER'S OFFICE, HUMAN RESOURCES, MAIL SERVICES, COLLEGE RELATIONS, ETC.STUDENT FINANCIAL AID FROM INTERNAL SOURCES REPRESENTED APPROXIMATELY 50% OF GROSS TUITION AND FEE REVENUE. IN ADDITION TO SOURCES OF INTERNAL AND EXTERNAL FINANCIAL AID, AND THE LYCOMING GRANT PROGRAM (NEED-BASED), LYCOMING COLLEGE OFFERS NUMEROUS SCHOLARSHIPS TO ACADEMICALLY TALENTED STUDENTS. ALL ACADEMIC SCHOLARSHIPS ARE AUTOMATICALLY RENEWED IN THEIR ORIGINAL AMOUNT FOR THE FOLLOWING YEAR PROVIDED THE STUDENT MAINTAINS SATISFACTORY ACADEMIC PROGRESS AS DEFINED IN THE COLLEGE CATALOG. ENROLLMENT FOR THE 2010-2011 ACADEMIC YEAR WAS APPROXIMATELY 1,354 FULL-TIME EQUIVALENTS. 42727257 1 1 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 0 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 1 111 0 1 1208 1 1 1 1 CJ 0 0 0 0 0 0 0 0 X 38 34 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 PA X MICHELLE M JONES CPA 5703214031 700 COLLEGE PLACE WILLIAMSPORT PA 17701 DR JAMES E DOUTHAT 40.00 X X 242360 0 87580 DR THOMAS V WOLFE 1.00 X 0 0 0 DAVID R BAHL ESQ 1.00 X 0 0 0 HON MARIE WHITE BELL 1.00 X 0 0 0 DR ROBERT L BENDER 1.00 X 0 0 0 JOHN R BIGGAR 1.00 X 0 0 0 MELVIN H CAMPBELL JR 1.00 X 0 0 0 JAY W CLEVELAND SR 1.00 X 0 0 0 JAY W CLEVELAND JR 1.00 X 0 0 0 DONALD E FAILOR 1.00 X 0 0 0 DAVID D GATHMAN 1.00 X 0 0 0 NANCY J GIENIEC 1.00 X 0 0 0 ARTHUR A HABERBERGER 1.00 X X 0 0 0 DANIEL R HAWBAKER 1.00 X 0 0 0 LAWRENCE S ALLISON JR 1.00 X 0 0 0 DR BRENDA P ALSTON-MILLS 1.00 X 0 0 0 DR WILLIAM E EVANS 1.00 X 0 0 0 MARK FULTZ 1.00 X 0 0 0 DALE N KRAPF 1.00 X X 0 0 0 DANIEL R LANGDON 1.00 X 0 0 0 DAVID B LEE 1.00 X 0 0 0 DR ROBERT G LITTLE 1.00 X 0 0 0 CAROLYN-KAY M LUNDY 1.00 X 0 0 0 PETER R LYNN 1.00 X X 0 0 0 D STEPHEN MARTZ 1.00 X 0 0 0 DAVID L SCHOCH 1.00 X 0 0 0 NANCI D MORRIS 1.00 X 0 0 0 ANN S PEPPERMAN ESQ 1.00 X X 0 0 0 JAMES G SCOTT 1.00 X 0 0 0 DR ROBERT L SHANGRAW 1.00 X 0 0 0 PETE H SIDES 1.00 X 0 0 0 STANLEY W SLOTER 1.00 X 0 0 0 LINDA POOR SWEENEY 1.00 X 0 0 0 CHERYL SPENCER 1.00 X 0 0 0 JOHN S TROGNER JR 1.00 X 0 0 0 MARSHALL D WELCH III 1.00 X X 0 0 0 DIANE D WOOSNAM 1.00 X 0 0 0 DR DENNIS G YOUSHAW 1.00 X 0 0 0 JAMES D SPENCER 40.00 X 153813 0 31457 THOMAS A GRIFFITHS 40.00 X 150880 0 22558 DANIEL P MILLER 40.00 X 101946 0 16298 SUSAN S GAYLOR 40.00 X 140319 0 19976 CHARLES W EDMONDS 40.00 X 137132 0 19801 MICHELLE M JONES 40.00 X 72211 0 14158 DAVID B HEFFNER 40.00 X 104685 0 10480 1103346 0 222308 7 0 1 0 SODEXO MARRIOTT SERVICES 77 WALL STREET MADISON CT 06443 CONTRACTED FOOD SERVICES 2650496 DELL MARKETING LP C/O DELL USA LP PO BOX 643561 PITTSBURGH PA 152643561 COMPUTER SERVICES 306620 DATATEL INC 4375 FAIR LAKES COURT FAIRFAX VA 22033 COMPUTER SERVICES 244807 EBSCO SUBSCRIPTION SERVICE PO BOX 830625 BIRMINGHAM AL 35283 LIBRARY SUBSCRIPTION SVCS 171770 MICRO ONE COMPUTER CENTER 1305 WASHINGTON BLVD WILLIAMSPORT PA 17701 COMPUTER SERVICES 166230 18 6000 360 811385 2782039 214407 3599784 TUITION & FEES 611710 38903837 38903837 AUXILIARY ENTERPRISES 611710 10054272 10054272 48958109 1686283 1686283 29320 15479 13841 13841 13841 39199015 796 33390395 652 5808620 144 5808764 5808764 6545 360 11108 -4563 -4563 913016 654935 258081 258081 SUMMER CONFERENCE REV 611710 385584 385584 PARKING REVENUE 900099 108895 108895 FACILITY USE REV 721000 50333 50333 96669 20927 75742 641481 60961780 49237117 435917 7688962 19337152 19337152 267500 267500 1184532 301961 882571 11481475 9485869 1530501 465105 869327 670120 160073 39134 2312848 1660351 487474 165023 912271 717954 161377 32940 34042 34042 68090 68090 397585 397585 3186070 2950615 222203 13252 408704 321193 80287 7224 3373542 2765138 537016 71388 2253388 854613 1398775 487718 393811 51096 42811 989096 963522 25574 2322366 735433 1586933 470801 59820 410981 STUDENT WAGES 833379 689318 121344 22717 SPECIAL EVENTS 105489 67538 37951 MEMBERSHIPS 96259 28387 64690 3182 DEBT SERVICE TRUSTEE FE 49730 49730 132796 59377 68277 5142 51574160 42727257 7978985 867918 714000 491257 150000 432303 626000 754040 20000 13065 2762000 2784722 89462746 50480257 40067000 38982489 126907000 154846945 8982000 9987000 6861000 7470223 187089000 215762044 894000 1533321 26122000 25474000 219000 163124 11326000 11012344 38561000 38182789 X 113041000 134972508 10079000 15955731 25408000 26651016 148528000 177579255 187089000 215762044 X 9387620 19663635 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 124797000 4280000 24760000 165500 1396500 152275000 100744000 18794000 7516000 74000 2183000 124797000 138847000 1047000 -36742000 468000 1940000 100744000 0.77000 0.23000 0.00000 0 0 499845 4443966 4943811 58404870 31891774 26513096 18642117 14900845 3741272 7471948 3687638 3784310 38982489 ACCUMULATED POSTRETIREMENT BENEFIT OBLIGATION 209803 OTHER LIABILITIES 2843969 LIABILITIES UNDER SPLIT-INTEREST AGREEMENTS 5381352 ADVANCE FROM FEDERAL GOVERNMENT FOR STUDENT LOANS 2467672 UNAMORTIZED BOND PREMIUM 109548 11012344 60961780 51574160 9387620 18976370 3575 683690 19663635 29051255 61370968 18976370 -18920962 55408 61315560 301155 -654935 -353780 60961780 32323288 654935 654935 31668353 301155 19604652 19905807 51574160 PART III, LINE 4: THE COLLEGE ARCHIVES MAINTAINS A COLLECTION OF DOCUMENTS AND PHOTOGRAPHS PRESERVING THE HISTORY OF THE COLLEGE, AS WELL AS ARTIFACTS AND UNIQUE ITEMS SUCH AS STUDENT AND GROUP SCRAPBOOKS, A COLLECTION OF COLLEGE POSTCARDS, DEPARTMENTAL HONORS PAPERS, AND HISTORICAL METHODS PAPERS. THESE ARCHIVAL MATERIALS FOLLOW THE HISTORY OF THE SCHOOL FROM ITS EARLIEST INCARNATION AS THE WILLIAMSPORT ACADEMY (1812-1848), THROUGH ITS YEARS AS WILLIAMSPORT DICKINSON SEMINARY (1848-1928) AND WILLIAMSPORT DICKINSON SEMINARY AND JUNIOR COLLEGE (1928-1947) TO LYCOMING COLLEGE (1948-PRESENT). THE PURPOSE OF THE LYCOMING COLLEGE ARCHIVES IS TO COLLECT INACTIVE MATERIALS OF MANY TYPES THAT REFLECT UPON OUR HERITAGE THROUGH THE HISTORY, DEVELOPMENT, AND ADMINISTRATION OF LYCOMING COLLEGE, AND TO STRENGTHEN THE EDUCATIONAL MISSION OF THE COLLEGE BY PRESERVING AND MAKING AVAILABLE FOR RESEARCH VARIOUS MATERIALS OF A UNIQUE NATURE THAT RELATE TO THE HISTORY OF THE INSTITUTION. A FUNDAMENTAL PURPOSE OF THE COLLECTION IS TO ENGAGE STUDENTS ACTIVELY IN ORIGINAL RESEARCH WHILE REACHING A REASONABLE COMPROMISE BETWEEN USE AND PRESERVATION. THE LYCOMING COLLEGE ART GALLERY ENRICHES THE CULTURAL LIFE ON CAMPUS, IN THE WILLIAMSPORT COMMUNITY AND THROUGHOUT THE REGION. THE EXHIBITIONS PRESENTED AND THE PROGRAMS WHICH ACCOMPANY THEM (LECTURES, ARTIST GALLERY TALKS, CLASS VISITS, ETC.) ARE INTENDED TO DEEPEN THE UNDERSTANDING OF ART, BOTH HISTORICAL AND OF OUR TIME, AND TO COMPLEMENT THE COLLEGE'S VISUAL ARTS CURRICULUM AND OTHER INTERDISCIPLINARY ACADEMIC PROGRAMS. THE GALLERY ALSO SERVES THE ART HISTORY AND STUDIO ART CURRICULAR BY PROVIDING AN OPPORTUNITY FOR OBJECT-CENTERED LEARNING, AND THE HUMANITIES CURRICULAR, THROUGH THE PRESENTATION OF UNIQUE CULTURAL AND HISTORIC WORKS OF ART. WE HOPE TO CHALLENGE AND STIMULATE OUR STUDENTS AND THE PUBLIC BY EXPOSING THEM TO NEW IDEAS AND ENCOURAGING THEM TO THINK INDEPENDENTLY AND CREATIVELY ABOUT THEIR WORK AND THEIR WORLD. THE LYCOMING COLLEGE ART GALLERY IS A WONDERFUL RESOURCE FOR STUDENTS AND THE WILLIAMSPORT COMMUNITY, A NICE CHANGE OF VENUE FOR FACULTY, A RESTFUL ESCAPE FOR STAFF, AND A GREAT PLACE FOR EVERYONE TO BRING FRIENDS AND FAMILY, THEREBY INCREASING THE VISIBILITY OF LYCOMING COLLEGE. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE FUND SERVES TWO GOALS: (A) TO OFFSET EXPENDITURES OF THE INSTITUTION NOT COVERED BY THE NORMAL OPERATING FUNDS AND (B) TO ENSURE THAT FUTURE GROWTH IS SUFFICIENT TO OFFSET INFLATION PLUS REASONABLE SPENDING, THEREBY PRESERVING THE CONSTANT DOLLAR VALUE AND PURCHASING POWER OF THE FUND. THIS WILL BE ACCOMPLISHED THROUGH A CAREFULLY PLANNED AND EXECUTED LONG-TERM INVESTMENT PROGRAM. THE OBJECTIVE OF THE INVESTMENT PROGRAM IS TO ENHANCE THE FUND'S LONG-TERM VIABILITY BY MAXIMIZING THE VALUE OF THE FUND WITH A PRUDENT LEVEL OF RISK. A SUCCESSFUL INVESTMENT PROGRAM MUST BE BALANCED BY A RESTRAINED ENDOWMENT SPENDING POLICY. 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 IS MET. MANAGEMENT DETERMINED THAT THERE WERE NO TAX UNCERTAINTIES THAT MET RECOGNITION THRESHOLD IN FISCAL YEAR 2011. THE COLLEGE'S FEDERAL RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX RETURNS FOR THE YEARS ENDED JUNE 30, 2010, 2009, AND 2008 AND THE FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS (FORM 990-T) FOR THE YEARS ENDED JUNE 30 2010, 2009, AND 2008 REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 175,938. CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS 52,548. POSTRETIREMENT BENEFIT LIABILITY ADJUSTMENT 455,204. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 175,938. CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS 52,548. CHANGE IN POSTRETIREMENT BENEFIT LIABILITY ADJUSTMENT 455,204. GRANTS & SCHOLARSHIPS -19,604,652. PART XII, LINE 4B - OTHER ADJUSTMENTS: CAMPUS STORE EXPENSES -654,935. PART XIII, LINE 2D - OTHER ADJUSTMENTS: CAMPUS STORE EXPENSES 654,935. PART XIII, LINE 4B - OTHER ADJUSTMENTS: GRANTS & SCHOLARSHIPS 19,604,652. 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 INCORPORATED INTO THE MISSION STATEMENT OF THE COLLEGE WHICH IS INCLUDED ON THE COLLEGE'S 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, PELL GRANTS, AND TECHNOLOGY GRANTS. THE COLLEGE ALSO RECEIVES GRANTS FROM THE COMMONWEALTH OF PENNSYLVANIA, THE MOST SIGNIFICANT OF WHICH IS THE INSTITUTIONAL ASSISTANCE GRANT. 0 0 0 0 0 0 0 0 0 SCHOLARSHIPS NORTH AMERICA 1 15000 FINANCIAL AID IS POSTED TO THEIR STUDENT ACCOUNT N/A CASH SCHOLARSHIPS EAST ASIA AND THE PACIFIC 14 232500 FINANCIAL AID IS POSTED TO THEIR STUDENT ACCOUNT N/A CASH SCHOLARSHIPS EUROPE 1 20000 FINANCIAL AID IS POSTED TO THEIR STUDENT ACCOUNT N/A CASH 0 0 1 0 0 0 1 INSTITUTIONAL GRANTS/SCHOLARSHIPS 1266 19091150 CASH N/A PRIZES AND SCHOLARSHIPS 40 61125 CASH N/A SEOG GRANTS 240 184877 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 STUDENT FINANCIAL AID OFFICE. X X X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 DR JAMES E DOUTHAT 242360 0 0 0 0 0 57733 0 29847 0 329940 0 0 0 JAMES D SPENCER 153813 0 0 0 0 0 10000 0 21457 0 185270 0 0 0 THOMAS A GRIFFITHS 150880 0 0 0 0 0 0 0 22558 0 173438 0 0 0 SUSAN S GAYLOR 140319 0 0 0 0 0 0 0 19976 0 160295 0 0 0 CHARLES W EDMONDS 137132 0 0 0 0 0 0 0 19801 0 156933 0 0 0 PART I, LINE 1A THE PRESIDENT'S COMPENSATION PACKAGE SPECIFICALLY STATES THAT TRAVEL EXPENSES FOR HIS SPOUSE DURING BUSINESS TRAVEL WILL BE PAID BY THE COLLEGE. THE PRESIDENT LIVES IN A HOUSE THE COLLEGE OWNS WHICH IS IN CLOSE PROXIMITY TO CAMPUS. THE COLLEGE PAYS FOR COUNTRY CLUB DUES FOR THE PRESIDENT AND A FEW OTHER KEY STAFF MEMBERS. THE PRESIDENT'S HOME IS CLEANED AND MAINTAINED BY THE COLLEGE'S CUSTODIAL STAFF. NONE OF THESE BENEFITS ARE CONSIDERED TAXABLE INCOME FOR THESE OFFICERS AS THESE BENEFITS ARE FOR BUSINESS PURPOSES. PART I, LINE 4B JAMES DOUTHAT, 457(F) CONTRIBUTIONS FOR THE YEAR WERE $41,233 AND 457(B) CONTRIBUTIONS FOR THE YEAR WERE $16,500. JAMES SPENCER, 457(F) CONTRIBUTIONS FOR THE YEAR WERE $10,000. PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 232243852 70917NYU2 2003-10-23 11572896 REFUND SERIES 1997 AND 2001 BONDS, RENOVATIONS & MISC CAPITAL EXP 0 0 0 PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 232243852 70917NN91 2004-12-22 8567167 REFUND SERIES OF 1998 BONDS, CONSTR AND FURNISHING OF STUDENT HOUSING 0 0 0 11599917 963552 9100000 451480 1084885 2005 0 1 1 1 9109137 649534 2236090 234485 5989028 2007 0 1 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 SCHEDULE K, PART II, LINE 3: TOTAL PROCEEDS OF ISSUE REPORTED ON LINE 3 EXCEEDS THE ISSUE PRICE REPORTED IN PART I DUE TO INVESTMENT EARNINGS OF $27,021 (BOND ISSUE A) AND $541,970 (BOND ISSUE B). SCHEDULE K, PART III, LINE 3A: THERE ARE NO MANAGEMENT OR SERVICE CONTRACTS OR RESEARCH AGREEMENTS RELATING TO THE FINANCED PROPERTIES FOR THE 2003 OR 2004 BONDS. CAROLYN KAY LUNDY BOARD TRUSTEE 48405 CAROLYN KAY LUNDY'S HUSBAND IS THE VICE PRESIDENT OF LUNDY CONSTRUCTION. LUNDY CONSTRUCTION PERFORMS CONSTRUCTION WORK FOR VARIOUS BUILDING PROJECTS AT THE COLLEGE. 0 DAVID BAHL BOARD TRUSTEE 50184 DAVID BAHL IS PARTNER AT MCCORMICK LAW FIRM. MCCORMICK LAW PROVIDES LEGAL SERVICES TO THE COLLEGE. 0 PETER HUGH SIDES BOARD TRUSTEE 14920 PETER "HUGH" SIDES IS THE PRESIDENT OF ROBERT M. SIDES FAMILY MUSIC CENTER. ROBERT M. SIDES PROVIDES MUSICAL INSTRUMENTS AND THE SERVICING OF THOSE INSTRUMENTS FOR THE COLLEGE. 0 X 26 201071 MEAN OF STOCK PRICE X UNUSED VACATION TIME 2 6336 PAY RATE X HOURS X EQUIPMENT 1 7000 COST 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 TRUSTEES JAY CLEVELAND SR AND JAY CLEVELAND JR ARE RELATED (FATHER & SON). TRUSTEE MARK FULTZ IS THE SON OF EMERITUS TRUSTEE DAN FULTZ. FORM 990, PART VI, SECTION B, LINE 11 A DRAFT OF THE FULL FORM 990 WAS PROVIDED TO MEMBERS OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES AND REVIEWED BY THE AUDIT COMMITTEE AT A MEETING IN EARLY 2012 WITH PARENTEBEARD, THE INDEPENDENT AUDITORS OF THE COLLEGE. FOLLOWING THAT REVIEW, THE PUBLIC DISCLOSURE COPY OF FORM 990 WAS PROVIDED TO EACH TRUSTEE OF THE COLLEGE AND WAS RECOMMENDED FOR APPROVAL BY THE CHAIRMAN OF THE AUDIT COMMITTEE TO THE BOARD OF TRUSTEES AT IT'S ANNUAL SPRING MEETING PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE AUDIT COMMITTEE OF THE BOARD PERIODICALLY REVIEWS THE COLLEGE'S CONFLICT OF INTEREST POLICY TO ENSURE THAT IT IS COMPREHENSIVE, CLEARLY DEFINES THE TERM "CONFLICT OF INTEREST" AND CONTAINS PROCEDURES FOR ADEQUATELY RESOLVING AND DOCUMENTING POTENTIAL CONFLICTS. THE POLICY REQUIRES ANNUAL SIGNOFF BY BOARD TRUSTEES. BEFORE THE BOARD OR A COMMITTEE OF THE BOARD CONSIDERS A PROPOSED TRANSACTION/ARRANGEMENT, ANY INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND DISCLOSE ALL MATERIAL FACTS TO THE BOARD OR COMMITTEE. THE INTERESTED PERSON WILL THEN LEAVE THE MEETING WHILE THE BOARD OR COMMITTEE DETERMINE AND VOTE UPON THE CONFLICT OF INTEREST. THE BOARD OR COMMITTEE MAY, IF APPROPRIATE, CONSIDER ALTERNATIVES TO THE PROPOSED TRANSACTION/ARRANGEMENT. THE INTERESTED PERSON WOULD ABSTAIN FROM VOTING ON THE MATTER. ALL DETERMINATIONS AND VOTES ARE DOCUMENTED IN THE MINUTES OF THE BOARD OF TRUSTEES OR COMMITTEE MEETINGS. IF ANYONE FAILS TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, THE BOARD WILL DETERMINE THE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION UP TO REMOVAL FROM THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES SETS THE PARAMETERS FOR THE OVERALL SALARY POOL FOR COLLEGE EMPLOYEES AT THEIR FEBRUARY MEETING AS PART OF THE ANNUAL BUDGET CYCLE. THE PERSONNEL COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS AND SETS THE SALARY AND BENEFITS FOR THE PRESIDENT AT THEIR APRIL MEETING EACH YEAR. THE PERSONNEL COMMITTEE ALSO REVIEWS AND SETS THE SALARIES FOR THE SENIOR OFFICERS OF THE COLLEGE (PROVOST AND DEAN OF THE COLLEGE, VICE PRESIDENT FOR ADMINISTRATION AND PLANNING, VICE PRESIDENT FOR ADMISSIONS AND FINANCIAL AID, DEAN OF STUDENT AFFAIRS AND VICE PRESIDENT FOR COLLEGE ADVANCEMENT). THE PERSONNEL COMMITTEE IS PROVIDED WITH COMPARATIVE DATA FOR THE PRESIDENT AND SENIOR OFFICERS RELATIVE TO SIMILAR INSTITUTIONS IN MISSION, ENROLLMENT SIZE, FINANCES, ETC. THE PERSONNEL COMMITTEE ALSO RECEIVES A REPORT OF HOW FACULTY SALARIES AND COMPENSATION COMPARE AT LYCOMING COLLEGE RELATIVE TO SIMILAR INSTITUTIONS. THE PRESIDENT APPROVES THE SALARY FOR ALL OTHER EMPLOYEES WITHIN THE PARAMETERS SET BY THE BOARD, THE COLLEGE'S SALARY GRADES FOR EACH POSITION AND VARIOUS COMPENSATION SURVEYS. THE PRESIDENT RECEIVES COMPARATIVE DATA FOR ALL MID-LEVEL AND ADMINISTRATIVE EMPLOYEES FROM THE SAME COMPARISON GROUP THAT IS USED BY THE PERSONNEL COMMITTEE. THE DIRECTOR OF HUMAN RESOURCES PROVIDES COMPARATIVE DATA FOR THE ADMINISTRATIVE ASSISTANT AND PHYSICAL LABORER POSITIONS TO THE PRESIDENT. CONTINUING FACULTY AND STAFF SALARIES ARE APPROVED BY THE PRESIDENT UPON THE RECOMMENDATION OF THE CORRESPONDING SENIOR OFFICER AND BASED ON THE COLLEGE'S EVALUATION AND PERSONNEL POLICIES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 18,976,370. PRIOR PERIOD ADJUSTMENTS: 3,575. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 175,938. CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS 52,548. POSTRETIREMENT BENEFIT LIABILITY ADJUSTMENT 455,204. TOTAL TO FORM 990, PART XI, LINE 5: 19,663,635.