2011-05-12T10:13:22-05:00 2010-06-30 Moss Adams LLP 3121 West March Lane Suite 100 Stockton CA 952192303 990 2009-07-01 951644026 UNIVERSITY OF LA VERNE UNIV 9095933511 1950 THIRD STREET LA VERNE CA 917504401 PHILIP HAWKEY 9095933511 2011-05-10 1 TRACY S PAGLIA 2099556100 2009 2016-02-24 21:20:13Z PHILIP HAWKEY 1950 THIRD STREET LA VERNE CA 917504401 139961211 0 X WWW.LAVERNE.EDU X 1891 CA Delivery of Undergraduate & Graduate Degree programs. 24 22 2231 0 0 0 4879668 6544960 115331764 120902739 165689 2637874 692532 848146 121069653 130933719 22081379 25912551 0 60034818 60619286 0 2133148 33999109 40569904 116115306 127101741 4954347 3831978 169711117 184382744 80207591 79171407 89503526 105211337 It is the mission of the University of La Verne to provide opportunities for students to achieve their educational goals and become contributing citizens to the global community.This is accomplished by offering high quality degree programs to both traditional-aged and adult learners; providing liberal arts and professional programs from undergraduate to doctoral levels; and delivering programs to students at the central La Verne campus as well as regional campuses and satellite class locations throughout California.The university provides a student-centered, values-based, and diverse learning environment. It takes pride in offering small class sizes in a highly personalized setting. The University encourages effective teaching, research, scholarly contributions, and service to the greater community by sharing its academic, professional, and individual resources. 0 0 107056953 25912551 120902739 Educational services for undergraduate, graduate, law and doctoral students. Approximate number of students served: 11,000 107056953 1 1 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 1 238 0 1 2231 1 0 0 0 0 0 1 1 0 0 0 24 22 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 1 0 CA X LORI GORDIEN CASE 9095933511 1950 THIRD STREET LA VERNE CA 917504401 Luis Faura 3.00 X 0 0 0 Kenneth L Calkins 3.00 X 0 0 0 Ann Quay Davis 3.00 X 0 0 0 Michael A Abraham 3.00 X 0 0 0 Bud Elam 3.00 X 0 0 0 Alex Espinoza 3.00 X 0 0 0 Richard H George 3.00 X 13796 0 0 Benjamin C Harris 3.00 X 0 0 0 Mark Hicks 3.00 X 0 0 0 Richard A Lewis 3.00 X 0 0 0 Kenneth Little 3.00 X 0 0 0 James W Long 3.00 X 0 0 0 D Tad Lowrey 3.00 X 0 0 0 Mary Ann Melleby 3.00 X 0 0 0 Ivan Misner 3.00 X 0 0 0 Cecilia Martinez Morris 3.00 X 0 0 0 Paul Moseley 3.00 X 0 0 0 Gregory G Petersen 3.00 X 0 0 0 Steven N Reenders 3.00 X 0 0 0 Valerie C Romero 3.00 X 0 0 0 Susan Searing 3.00 X 0 0 0 David D Shively 3.00 X 0 0 0 Emmett L Terrell 3.00 X 0 0 0 Donald G Wilson 3.00 X 0 0 0 Stephen Morgan 40.00 X 270516 0 134687 Philip Hawkey 40.00 X 234067 0 24069 Greg Dewey 40.00 X 56896 0 6802 Alden Reimonenq 40.00 X 240202 0 22418 Jean Bjerke 40.00 X 160720 0 26354 Homa Shabahang 40.00 X 160878 0 24194 Allen Easley 40.00 X 253836 0 28561 Mark Goor 40.00 X 156019 0 21742 Rita Thakur 40.00 X 176388 0 22622 Keeok Park 40.00 X 170133 0 17231 Janat Yousof 40.00 X 161307 0 14878 David Kung 40.00 X 152219 0 14436 H Randall Rubin 40.00 X 151943 0 22415 2358920 0 380409 109 0 1 0 KAR CONSTRUCTION INC 1306 W Brooks St Ontario CA 91762 CONSTRUCTION SERVICES 8245581 PROFESSIONAL DEVELOPMENT COURSES PO Box 5196 Oceanside CA 92052 CONTRACTED TEACHING SERVICES 3654412 SODEXO INC & AFFILIATES 135 SANTILLI HIGHWAY EVERETT MA 02149 JANITORIAL/CAMPUS FOOD SERVICES 2607421 Alliant Insurance Services 735 E Carnegie Dr Ste 200 San Bernardino CA 92408 insurance broker 964068 Renaissance Agencies Inc PO Box 2300 Santa Monica CA 90401 Insurance Broker 664941 53 33350 3774997 2736613 185251 6544960 TUITION & FEES 611710 116236278 116236278 AUXILIARY ENTERPRISES 611710 4270500 4270500 SPONSORED PROGRAMS 900099 252978 252978 BOOKSTORE 900099 88591 88591 TICKET SALES & events 900099 54392 54392 120902739 1174283 1174283 10441867 3594 8981870 1459997 3594 1463591 1463591 48989 33350 45622 3367 3367 MISCELLANEOUS 900099 446572 446572 USE OF FACILITIES 900099 358247 358247 STAFF PARKING FEES 900099 39960 39960 844779 130933719 120902739 0 3486020 25912551 25912551 1916662 1052201 675535 188926 172700 172700 48149077 39525283 7458604 1165190 3805512 2970122 725364 110026 3078377 2390289 590298 97790 3496958 2926488 479026 91444 256319 9974 246345 217651 217651 133814 92279 41535 11889524 8581450 3027615 280459 1338915 1199225 137772 1918 3164516 2209831 790339 164346 2242010 629897 1606727 5386 3392618 2567582 825036 1469756 1375312 70115 24329 151108 103943 44869 2296 2428314 2428314 5107077 5107077 1346006 714650 631356 allowance for bad debts 5406880 5406880 EQUIP., FURN., & BOOKS 2025396 1680905 343453 1038 127101741 107056953 17911640 2133148 20904 25078 40330513 50565208 5295690 872805 5108462 5097317 18025 30015 3246361 3019835 135424602 52185326 73250424 83239276 34450608 32913631 4175343 4600991 3814787 4018588 169711117 184382744 13487769 12633167 7153066 8077767 41405000 40903750 11313831 10933357 6847925 6623366 80207591 79171407 X 64355186 76141342 3168075 9298655 21980265 19771340 89503526 105211337 169711117 184382744 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 27836727 194498 3153863 455642 935220 29794226 32221043 2068751 -5702258 450849 299960 27836727 0.31000 0.53000 0.16000 0 0 324552 11236590 11561142 77336155 22368697 54967458 8546733 3359534 5187199 35915898 26457095 9458803 2064674 2064674 83239276 ANNUITIES PAYABLE 3779302 FEDERAL STUDENT LOAN FUNDS 2844064 6623366 130933719 127101741 3831978 933083 11242997 -300247 11875833 15707811 108213328 933083 933083 107280245 23653474 23653474 130933719 103748514 300247 300247 103448267 23653474 23653474 127101741 Part V, Line 4: Description of Intended Use of Endowment Funds: The Board members of the University, in setting the endowment spending policy, considered the following factors: 1) preservation of asset values, 2) preservation of purchasing power, and 3) consistency of spending over time. The University's Board adopted a spending policy of 4.75% with a view toward balancing the need for expendable funds for University programs against the need to preserve the endowment against inflation. In order to achieve the objective of maintaining purchasing power, the endowment's annual rate of return must equal the annual distribution, plus inflation, plus management, custodial and administrative fees. The distribution to the University is based on a 12 quarter moving average of the market value. This spending method protects the University's distribution from the increased volatility in the markets. Distributions are provided to students for scholarships, various colleges, and programs in accordance with donor designations. The distributions are reflected in the net assets of the endowment fund. However, there is not a transfer of actual cash from the endowment fund. Without requiring a liquidation of cash, this treatment allows the investments of the endowment to grow. Part XI, Line 8 - Other Adjustments: CHANGE IN ACTUARIAL OBLIGATIONS: -300247. Part XII, Line 4b - Other Adjustments: STUDENT FINANCIAL AID: 23653474. Part XIII, Line 2d - Other Adjustments: CHANGE IN ACTUARIAL OBLIGATIONS: 300247. Part XIII, Line 4b - Other Adjustments: STUDENT FINANCIAL AID: 23653474. Part XI, Line 7 The University's prior year financial statements are being revised to correct the prior year recording of depreciation. In 2010, the University recognized an over-depreciation discrepancy of $11,242,997 in recorded accumulated depreciation. Approximately 95% of the discrepancy is related to two specific assets that were placed into service in 1996. Based on qualitative and quantitative factors, the impact was not material to prior financial results. As such, management concluded that the appropriate treatment was to reflect the cumulative misstatement amount of $9,916,220 in the 2009 financial statements as a correction to the opening net assets balance. Also, depreciation expense in the 2009 financial statements was reduced by $1,326,777. The total effect of these two revisions resulted in an increase to unrestricted net assets of $11,242,997. 1 1 1 The University customarily draws students from the local communities. The University follows a racially nondiscriminatory policy and enrolls students of racial minority groups in meaningful numbers. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 UNIVERSITY OF LA VERNE PARTICIPATES IN THE SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT, COLLEGE WORK-STUDY, PELL GRANT, NATIONAL SMART GRANTS, TITLE V GRANTS, NATIONAL SCIENCE FOUNDATION, PERKINS LOANS, FAMILY EDUCATION LOANS AND CALIFORNIA STATE DEPARTMENT OF EDUCATION PROGRAMS. 1 Advancement Golf Tourney 59655 32070 27585 2936 22672 4970 Literacy Center Gala 22684 1280 21404 5094 9950 82339 33350 48989 8030 22672 14920 45622 3367 1 Scholarships/Grants for students 1973 25912551 0 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: Students who receive grants from the University are determined in accordance with the University's standard policies and procedures. In summary, a student is required to complete a FAFSA to be considered for financial aid assistance. Upon completion of the FAFSA, the University is provided the student's estimated family contribution (EFC). Based on the EFC and other criteria (i.e. enrollment status, academic standing, etc.), the Office of Financial Aid may award a student an institutional grant. There are systemic procedures in place to ensure that the grant is applied against tuition and meets the requirements of the specific grant. Student Accounts and the Office of Financial Aid are responsible for monitoring the student's financial aid status while at the University. X X X X 0 1 0 0 0 0 0 0 0 Stephen Morgan 270516 0 0 0 0 0 124987 0 9700 0 405203 0 0 0 Philip Hawkey 234067 0 0 0 0 0 23580 0 489 0 258136 0 0 0 Alden Reimonenq 240202 0 0 0 0 0 21960 0 458 0 262620 0 0 0 Jean Bjerke 160720 0 0 0 0 0 16860 0 9494 0 187074 0 0 0 Homa Shabahang 160878 0 0 0 0 0 16404 0 7790 0 185072 0 0 0 Allen Easley 253836 0 0 0 0 0 23496 0 5065 0 282397 0 0 0 Mark Goor 156019 0 0 0 0 0 15888 0 5854 0 177761 0 0 0 Rita Thakur 176388 0 0 0 0 0 13200 0 9422 0 199010 0 0 0 Keeok Park 170133 0 0 0 0 0 8868 0 8363 0 187364 0 0 0 Janat Yousof 161307 0 0 0 0 0 9024 0 5854 0 176185 0 0 0 David Kung 152219 0 0 0 0 0 9876 0 4560 0 166655 0 0 0 H Randall Rubin 151943 0 0 0 0 0 15456 0 6959 0 174358 0 0 0 Part I, Line 4a The President had an executive retirement plan as part of his overall compensation package. The President participated in the plan during fiscal year 2009/2010 and is expected to receive his distribution at the end of fiscal year 2010/2011. California Educational Facilities Authority 521705592 130178NE2 2008-03-27 22500000 UNIVERSITY CONSTRUCTION/IMPROVEMENTS 0 0 California Educational Facilities Authority 521705592 130178aq9 2005-11-10 20570652 UNIVERSITY CONSTRUCTION/IMPROVEMENTS & REFUND PRIOR BOND ISSUANCE DEBT 0 0 22335500 3895154 505690 17399494 2009 0 0 0 1 21069770 1795389 309604 403582 5995364 2007 1 1 0 1 0 0 0 0 1 1 0 0 0 0 1 1 1 1 0 0 0 0 1 0 0 0 0 0 ANNA JABLONSKI FAMILY MEMBER OF PHIL HAWKEY, EXECUTIVE VICE PRESIDENT 71627 COMPENSATION FOR EMPLOYMENT 0 BIANCA ROMERO FAMILY MEMBER OF CECILIA MARTINEZ MORRIS, TRUSTEE 51467 COMPENSATION FOR EMPLOYMENT 0 X 2 10000 Donor Estimate X 4699 Publicly Listed X 2 151118 Publicly Listed X 1 7630 Bookfinder.com X 1 10804 Donor Estimate X Cameras 1 1000 Donor Estimate 0 0 1 1 Third Party Use: Part I, Line 32b: The University may utilize organizations to liquidate non-cash contributions if it is determined that it does not want to maintain the contribution and the donor restrictions allow for such liquidation. The organization selected depends on the type of contribution received and the market in which it can be liquidated. For example, the University may utilize a property management firm to post available properties of real estate or an investment firm to sell stocks. Form 990, Part VI, Section A, line 2 Steve Reenders and Richard Lewis, business relationship Form 990, Part VI, Section B, line 11 The information/data for the 990 is primarily gathered, calculated and compiled by the Financial Operations Manager. Upon completing these steps, the information is forwarded to the Associate Vice President of Finance for review and approval. Once approved, the information/data is sent to the Accounting Firm, Moss Adams, LLP, to prepare the actual 990. Once completed, the 990 is forwarded to the Financial Operations Manager to ensure that the information that had been originally provided was entered correctly into the 990. The Associate Vice President performs another review of the return. The 990 is then forwarded to the Audit Committee of the Board of Trustees for review, comments and approval. The final approved Form 990 is made available to the full board through posting on a secure website prior to filing with the IRS. Form 990, Part VI, Section B, line 12c The conflict of interest statement is obtained annually from officers, trustees and key employees. Form 990, Part VI, Section B, line 15 The Board of Trustees establishes the salary of the president, and the president establishes the salaries for the University's vice presidents. The Human Resources Department reviews the University's salaries/compensation and compares the information to both national and local comparability data to ensure the University's pay rates are consistent with other comparable institutions. An independent compensation consultant was used beginning Fall of 2010 to assist in finding a new president and developing the compensation package. Form 990, Part VI, Section C, line 19 - FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FROM THE FINANCE OFFICE. ALSO, THE AUDITED FINANCIAL STATEMENTS ARE POSTED TO THE ELECTRONIC MUNICIPAL MARKET ACCESS WEBSITE (WWW.EMMA.MSRB.ORG). THERE ARE PLANS TO POST THE AUDITED FINANCIAL STATEMENTS TO THE UNIVERSITY OF LA VERNE WEBSITE UNDER THE REVISED FINANCE OFFICE WEBPAGE. - THE CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST FROM THE FINANCE OFFICE. CONFLICT OF INTEREST POLICY IS ALSO AVAILABLE ON THE UNIVERSITY'S WEBSITE UNDER THE HUMAN RESOURCES PAGE. - GOVERNING/ORGANIZING DOCUMENTS ARE AVAILABLE UPON REQUEST FROM THE FINANCE OFFICE Schedule K, Part II, Column B, Line 11 Final allocation of proceeds Funds have not yet been fully allocated because the purpose of the 2005A bond issue is relatively limited. The University will utilize the remaining balance in the next 18 months for the construction of a new residence hall and the expansion of its chilled water system. Schedule K, Part II, Column A, Line 5 Issuance costs = $405,441 Credit enhancement fees = $100,249