2011-02-12T10:21:18-06:00 2010-06-30 Brown Edwards & Company LLP 1969 Lee Highway Bristol VA 24201 990 2009-07-01 540505972 VIRGINIA INTERMONT COLLEGE VIRG 2766696101 1013 MOORE STREET BRISTOL VA 24201 s Gregory Compton 2764667965 2011-02-10 1 Richard L Linnen 2764665248 2011-02-10 X 2009 2016-02-24 21:20:13Z S Gregory Compton 1013 moore street bristol VA 24201 15448718 0 X www.vic.edu X 1884 VA TO PROVIDE STUDENT INSTRUCTION, SCHOLARSHIPS AND SUPPORT. 23 23 494 106 128452 -236332 6771699 2123372 10952758 13089572 135527 -50076 -4841 -10459 17855143 15152409 3100767 4307740 0 7448807 7346279 238262 103250 509181 6033942 5436927 16821778 17194196 1033365 -2041787 17404388 15524233 8062828 8191388 9341560 7332845 To provide student instruction, scholarships, and support. 0 0 5260425 222897 10552218 STUDENT INSTRUCTION & SCHOLARSHIPS - AVERAGE FULL-TIME EQUIVALENT OF 482. THE COLLEGE ALSO OPERATES AN EQUINE PROGRAM. 6765974 4084843 1857344 STUDENT SERVICES - OPERATION OF STUDENT DEVELOPMENT PROGRAMS AS WELL AS ATHLETIC PROGRAMS. 585402 ACADEMIC SUPPORT - OPERATION OF LIBRARY AND EDUCATIONAL ASSISTANCE PROGRAMS. 1236361 466263 AUXILIARY SERVICES - OPERATION OF RESIDENCE HALLS, BOOKSTORE AND DINING FACILITIES FOR THE BENEFIT OF STUDENTS. 1236361 466263 13848162 1 1 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 77 0 494 1 0 0 0 0 0 0 0 0 0 23 23 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 X Greg Compton CFO 2764667965 1013 MOORE STREET BRISTOL VA 24201 Anthony F Troy 0.00 X 0 0 0 Mr Randal Almarode 0.00 X 0 0 0 Lanier Cordell 0.00 X 0 0 0 Wayne Bell 0.00 X 0 0 0 Steven Berg 0.00 X 0 0 0 Anne M Call 0.00 X 0 0 0 Kathleen O'Brien 0.00 X 0 0 0 Sherry Smith Crumley 0.00 X 0 0 0 Benjamin Street 0.00 X 0 0 0 Dr John Gaines 0.00 X 0 0 0 Martha McGlothlin Gayle 0.00 X 0 0 0 Wayne Kennedy 0.00 X 0 0 0 Gwen Mason 0.00 X 0 0 0 Elliot Moore 0.00 X 0 0 0 Robert L Musick Jr 0.00 X 0 0 0 Susan Stuart 0.00 X 0 0 0 Gerald Pace 0.00 X 0 0 0 Taylor REveley 0.00 X 0 0 0 Duncan Sawyer 0.00 X 0 0 0 Dr David Stancil 0.00 X 0 0 0 Ed Stringer 0.00 X 0 0 0 Mary Van Dyke 0.00 X 0 0 0 William T Wilson 0.00 X 0 0 0 Anne Shumaker 40.00 X 38031 0 0 Tony England 40.00 X 6439 0 0 Robert Rainwater 40.00 X 75210 0 0 Con Sauls 40.00 X 73593 0 0 Gregory Nayor 40.00 X 72871 0 0 beth shumaker 40.00 X 59672 0 0 mark roberts 40.00 X 30544 0 0 s gregory compton 40.00 X 66654 0 0 william jones 40.00 X 32513 0 0 Michael Puglisi 40.00 X 131766 0 0 William King 40.00 X 23874 0 0 Patrick Shull 40.00 X 57130 0 0 587293 0 0 1 1 0 0 Royall and Company 1920 E Parham Road Richmond VA 23228 Student Recruitment 471438 Brown Edwards and Company LLP 1969 Lee Highway Bristol VA 24201 Accounting Services 107000 Kellogg Organization 272 Bendix Road Ste 500 Virginia Beach VA 23452 Professional Fundraising 103250 3 211091 1912281 131062 2123372 TUITION 611710 10552218 10552218 student ROOM & BOARD 611710 1808046 1808046 BOOKSTORE/TEXTBOOK SAL 451211 321533 238398 83135 other program fees 611710 170795 170795 DINING SERVICES 722210 144730 99413 45317 92250 92250 13089572 40100 40100 41749 41749 41749 4955 36794 5148 5074 90250 74 -90250 -90176 -90250 74 148777 200985 -52208 -52208 15152409 12875825 128452 24760 4307740 4307740 455527 6364 449163 5327624 4332210 797941 197473 1121097 1019650 54940 46507 442031 374188 50777 17066 16537 16537 107000 107000 103250 103250 628270 628270 168687 121607 32183 14897 1802831 1247347 519472 36012 511974 120282 391692 285501 248487 17277 19737 170138 168974 1164 204780 194427 10353 673249 640197 33052 222994 25827 197167 Purchases for Resale 291535 291535 Dues, Subscriptions, Me 175598 93802 77564 4232 MiSCELLANEOUS 105596 27255 8334 70007 Bad Debt Expense 72237 72237 17194196 13848162 2836853 509181 1308525 1306603 956894 289112 138289 80622 107737 64551 1067 21581978 12060741 10077856 9521237 1921336 1364051 2892684 2898057 17404388 15524233 400211 313207 7991 5081 3510536 3886377 4144090 3986723 8062828 8191388 X 3339613 2212099 2024632 1134801 3977315 3985945 9341560 7332845 17404388 15524233 X 0 1 0 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4597195 11915 47240 19905 645000 3991445 4638452 33074 -53714 20617 4597195 0.98640 0.01360 0 0 1043709 1043709 10986204 5381682 5604522 3561504 2827159 734345 5990561 3851900 2138661 9521237 CertIFICATES OF DEPOSIT 538340 C PERPETUAL TRUSTS 360553 F Money Market Fund 465158 C 1364051 DUE FROM CURRENT FUND 2552295 Notes Receivable- Government Student Loans 345762 2898057 STUDENT & OTHER DEPOSITS 202702 ACCRUED COMPENSATION 269472 POST RETIREMENT BENEFIT OBLIGATION 122207 OBLIGATIONS UNDER CAPITAL LEASE 190433 ACTUARIAL LIABILITY OF ANNUITIES PAYABLE 285907 DUE TO ENDOWMENT 2552295 US GOVERNMENT GRANTS REFUNDABLE 363707 3986723 15152409 17194196 -2041787 13572 19500 33072 -2008715 11818489 13572 -3638727 -3625155 15443644 -291235 -291235 15152409 13827204 291235 291235 13535969 3658227 3658227 17194196 Part V, Line 4: Description of Intended Use of Endowment Funds: The primary investment objective is to provide a sustained and increasing level of realized gain and income distribution to support the college's annual operating budget and long-range financial plans. A secondary objective is to preserve the real (inflation adjusted) purchasing power of the endowment exclusive of annual funding. Part XI, Line 8 - Other Adjustments: Building depreciation adj. - impairment for GAAP but not tax: 19500. Part XII, Line 2d - Other Adjustments: Scholarships and Tuition Discounts Netted with Tuition on Financial Stmts: -3618822. Endowment Grant Netted with Revenue on Financial Statements: -19905. Part XII, Line 4b - Other Adjustments: Special Events Expense Netted with Revenue on Form 990: -200985. Realized Losses Included in Revenue on Form 990: -90250. Part XIII, Line 2d - Other Adjustments: Realized Losses Included in Revenue on Form 990: 90250. SPECIAL EVENTS - EXPENSE OFFSET TO REVENUE: 200985. Part XIII, Line 4b - Other Adjustments: Scholarships and Tuition Discounts Netted with Tuition on Financial Stmts: 3618822. Endowment Grant Netted with Revenue on the Financial Statements: 19905. Building depreciation for fully impaired asset for GAAP but not tax purposes: 19500. 1 1 0 The organization draws a substantial portion of its students from a wide geographic area and follows a racially nondiscriminatory policy. Therefore, the organization is not required to publish its policy through broadcast media. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 THE COLLEGE RECEIVED FUNDS FROM THE FEDERAL GOVERNMENT AS PART OF THE COLLEGE WORK STUDY PROGRAM. THE COLLEGE RECEIVED $211,054 FROM THE PROGRAM. 1 X X X X X 1 Kellogg Organization Provided aid in solicitation of outside donations. 0 0 103250 -103250 103250 -103250 Horse Show 19474 19474 38379 VI Classic 129303 129303 162606 148777 148777 200985 200985 -52208 1 Institutional Financial Aid and Scholarships 404 4307740 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: Institutional aid is provided in the form of academic scholarships, Baptist scholarships, athletic scholarships, performance scholarships, and resident assistant room discounts. The criteria for those is as follows: Academic Scholarships: Scholarships are categorized and tiered by incoming GPA and SAT/ACT scores. Student has grade maintenance requirements monitored by financial aid through the SAP process. Baptist Scholarships: Student must be a member of a Baptist Church and provide a letter from the pastor of this church. Student must maintain normal SAP requirements. Athletic Scholarship: Award is based on recommendation of the coach and coincides with other institutional aid provided. Student must comply with NAIA requirements of eligibility status and well as the school's SAP requirements. Performance Scholarship: Award is based on recommendation of the department head for the specific academic department providing the scholarship. It coincides with the academic scholarship awarded. Student must maintain SAP requirements. Resident Assistant Room Discount: Student must be selected by the Dean of Students office and must comply with the requirements of that position to receive the discount on a continual basis. All students receive a financial aid award letter detailing what aid (including institutional grants) they are eligible for. While it is not a requirement, we request that each student sign and return the letter to us within 2 weeks. Any student receiving some form of financial aid has a file as well as an electronic file maintained for them. X X 0 0 0 0 0 0 0 0 0 Michael Puglisi 100000 0 0 0 31766 0 0 0 0 0 131766 0 0 0 X 14499 Donor Provided X Horses 2 100000 Donor Provided X Miscellaneous 34 9944 Donor Provided X Cloth 11 6619 Donor Provided 0 1 0 Form 990, Part VI, Section B, line 11 The CFO reviews Form 990 with the external auditors. Form 990, Part VI, Section B, line 12c The officers and board of trustees or their designates review the policy annually. Form 990, Part VI, Section C, line 19 Governing documents, conflict of interest policy, and financial statements are made available upon request.