2011-02-10T09:16:01-07:00 2010-06-30 990 2009-07-01 540505922 LYNCHBURG COLLEGE LYNC 4345448428 1501 Lakeside Drive Lynchburg VA 24501 Steve Bright 4345448428 2011-02-14 2009 2016-02-24 21:20:13Z Steve Bright 1501 Lakeside Drive Lynchburg VA 24501 124812605 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. 36 32 1824 0 102673 0 3598949 3841062 70208178 74749256 -1911485 -2444770 92955 93668 71988597 76239216 21758846 23944395 0 0 31300862 32638649 63625 7237 1769455 23080406 22855048 76203739 79445329 -4215142 -3206113 133194531 143724257 32778294 37596486 100416237 106127771 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. 1 0 40183048 23944395 0 Includes Student Instruction and Scholarships. For the Fall 2009, there were 2,199 undergraduates, 390 graduates for a total enrollment of 2,589 students. 15530180 0 0 Includes Other Program Services (Information technology, interest expense, depreciation expense, and other allocated expenses) that support student instruction. 9578308 0 0 Includes Auxiliary Enterprises (Student housing, dining services, bookstore, and other snack bar areas). 6187648 0 0 Includes Student Services which consists of enrollment services, registrar, health and counseling services, student activities, sports, and recreation. 2325677 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. 8513325 0 0 73804861 1 1 0 1 0 1 1 0 1 1 1 0 1 0 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 1 111 0 1 1824 1 1 1 0 0 0 0 1 1 0 0 0 0 0 36 32 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 1.0 X 0 0 0 Alan A Burgess 1.0 X 0 0 0 Howard M Butler 1.0 X 0 0 0 Fred R Cawthorne 1.0 X 0 0 0 Stephen L Crank 1.0 X 0 0 0 Richard O Danker 1.0 X 0 0 0 MaryJane Tousignant Dolan 1.0 X 0 0 0 Douglas D Drysdale 1.0 X 0 0 0 Mary S Elcano 1.0 X 0 0 0 Stuart C Fauber 1.0 X 0 0 0 Pauline B Flint 1.0 X 0 0 0 Suzanne F Flynn 1.0 X 0 0 0 Mary H Futrell 1.0 X 0 0 0 Roger H Green 1.0 X 0 0 0 Yuille Holt III 1.0 X 0 0 0 Terry H Jamerson 1.0 X 0 0 0 Andrew J Larsen 1.0 X 0 0 0 Nathanial X Marshall 1.0 X 0 0 0 Philip G Mazzara 1.0 X 0 0 0 Jay W Newkirk 1.0 X 0 0 0 Ellen G Nygaard 1.0 X 0 0 0 Kathryn M Pumphrey 1.0 X 0 0 0 Mary Rose Ragsdale 1.0 X 0 0 0 Roy A Roberson Jr 1.0 X 0 0 0 Rosel H Schewel 1.0 X 0 0 0 Walker P Sydnor Jr 1.0 X 0 0 0 Thomas A Walker 1.0 X 0 0 0 Catherine G West 1.0 X 0 0 0 Charles B White 1.0 X 0 0 0 Tucker W Withers 1.0 X 0 0 0 Percy Wootton 1.0 X 0 0 0 Charles P Collings 1.0 X 0 0 0 Julie P Doyle 1.0 X 0 0 0 Rebecca DuFour 1.0 X 0 0 0 Yong H Kim 1.0 X 0 0 0 Andrew J Tatom III 1.0 X 0 0 0 Kenneth R Garren 40 X 400993 0 41990 Julius A Sigler Jr 40 X 120513 0 16592 John G Eccles 40 X 112629 0 18322 Rita A Detwiler 40 X 112163 0 22897 Denise A McDonald 40 X 112061 0 22952 Edward A Polloway 40 X 103947 0 14536 Stephen E Bright 40 X 135604 0 41055 John C Lewis 40 X 115560 0 19120 Sally Selden 40 X 110838 0 9399 David Murphy 40 X 117309 0 21026 Howard Ramagli 40 X 111350 0 15324 Joseph Turek 40 X 105916 0 20673 1658883 0 263886 16 0 1 0 Southern Air PO Box 4205 Lynchburg VA 24502 Construction 200562 Commonfund 15 Old Danbury Road Wilton CT 068978012 Investment Consultant 399877 Lynch Roofing Co PO Box 1240 Madison Heights VA 24572 Construction 203413 Dominion Seven Architects 100 Jefferson Street Lynchburg VA 24504 Architectual Services 513546 Carnegie Communications LLC 2 Lan Drive Suite 120 Westford MA 01886 Marketing/Publication Design 223029 7 0 0 30409 0 762703 3047950 350778 3841062 Tuition and Fees 611600 58642133 58642133 0 0 Auxiliary Enterprises 900099 14460581 14460581 0 0 Miscellaneous Revenue 900099 1646542 1646542 0 0 0 0 0 0 74749256 1166039 0 0 1166039 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 44921925 5720 48421117 117337 -3499192 -111617 -3610809 0 0 -3610809 25930 30409 34935 -9005 0 0 -9005 0 0 0 0 0 0 0 0 0 0 0 0 Auxiliary-Catering 722320 102673 0 102673 0 0 0 0 0 102673 76239216 74749256 102673 -2453775 0 0 23786109 23786109 158286 158286 0 0 1250498 460722 587626 202150 0 0 0 0 24511534 22068206 1571657 871671 1873166 1645763 150790 76613 3019069 2802914 127248 88907 1984382 1743478 159743 81161 0 0 0 0 24043 0 24043 0 68352 0 68352 0 0 0 0 0 7237 7237 399877 0 399877 0 0 0 0 0 93815 39282 53150 1383 1411505 1171380 115152 124973 1580244 1534009 12965 33270 0 0 0 0 2313503 2248274 43486 21743 954633 693893 115573 145167 0 0 0 0 0 0 0 0 1188579 1188579 0 0 0 0 0 0 3673898 3673898 0 0 86313 0 86313 0 Food Purchases-Dining Services 1981640 1981640 0 0 Purchases-Bookstore 1240837 1240837 0 Indirect Costs Alloc-Auxiliary & Other 3891847 3891847 0 0 Other Miscellaneous 3945962 3475744 355038 115180 79445329 73804861 3871013 1769455 23766 22331 6610293 8826682 2489034 2266137 405385 560310 0 0 0 0 1664195 1651274 489674 528027 197969 319673 101428283 43889720 54436300 57538563 66564218 71659563 0 0 0 0 0 313697 351697 133194531 143724257 6177238 6875298 0 0 1125475 1199616 16178000 19983715 0 0 0 0 6810231 6688602 1717 0 2485633 2849255 32778294 37596486 X 44013048 45933199 19244889 20591549 37158300 39603023 100416237 106127771 133194531 143724257 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 0 0 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. 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 09-10, the College paid $25,590.94 in membership dues which was based upon the student population. The College is unaware of the amount of funding expended on the various projects of the CICV. X 1 470 0 0 0 1 1 0 0 1 6200 6200 0 0 X X X X 0 62177036 1013976 5724299 373692 952836 0 67588783 82010777 784675 -18381644 776669 1460103 0 62177036 0.2 0.76 0.04 1 0 0 1580397 1580397 0 76958116 31961986 44996130 0 1670243 0 1670243 0 13461152 9236026 4225126 0 7758375 2691708 5066667 57538563 0 0 0 Debt Issuance Costs 351697 351697 0 Interest Rate Swap Agreement 1807137 U.S. Govt Grants Refundable 1042118 2849255 76239216 79445329 -3206113 9142103 0 0 0 -224456 8917647 5711534 60823820 9142103 0 0 -24168851 -15026748 75850568 399877 -11229 388648 76239216 55112286 0 0 0 11229 11229 55101057 399877 23944395 24344272 79445329 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 value 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 sculptures by Pierre Daura and many 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_P10_S00_L00 Schedule D, Part X A disclosure of FIN 48 has not been included in the audit footnotes for fiscal year ending June 30, 2010. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 This figure includes the Change in the value of split interest agreements. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Includes Financial Aid ($23,944,395) and Change in the Value of Split Interest Agreements ($224,456) SchD_P12_S00_L04b Schedule D, Part XII, Line 4b This figure includes Special Events. SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d This figure includes Special Events. SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b This figure includes Financial Aid. 1 1 1 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. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 Lynchburg College was the recipient of various grants and contracts from the Federal Government supporting student financial aid and other College programs in the 2009-10 fiscal year. These federal awards were received from the U.S. Department of Education, Department of Energy, Department of Transportation , the Office of Juvenile Justice and Delinquency Prevention, Department of Commerce, and the Corporation for National and Community Service. 1 1 Central America and the Caribbean 0 0 Program Services Educational Training/Partnership 2823 Sub-Saharan Africa 0 0 Program Services Institutional aid to students 14062 Central America and the Caribbean 0 0 Program Services Institutional aid to students 41830 East Asia and the Pacific 0 0 Program Services Institutional aid to students 56904 South Asia 0 0 Program Services Institutional aid to students 3510 Russia and the newly independent States 0 0 Program Services Institutional aid to students 14000 Europe (including Iceland and Greenland) 0 0 Program Services Institutional aid to students 27980 0 0 161109 Unfunded Institutional Aid Sub-Saharan Africa 2 13262 Applied to the student's tuition and fees account 0 Funded Institutional Aid Sub-Saharan Africa 2 800 Applied to the student's tuition and fees account 0 Unfunded Institutional Aid Central America and the Caribbean 2 40132 Applied to the student's tuition and fees account 0 Funded Institutional Aid Central America and the Caribbean 2 1698 Applied to the student's tuition and fees account 0 Unfunded Institutional Aid East Asia and the Pacific 2 55960 Applied to the student's tuition and fees account 0 Funded Institutional Aid East Asia and the Pacific 1 944 Applied to the student's tuition and fees account 0 Unfunded Institutional Aid South Asia 1 3510 Applied to the student's tuition and fees account 0 Unfunded Institutional Aid Russia and the newly independent States 1 14000 Applied to the student's tuition and fees account 0 Unfunded Institutional Aid Europe (including Iceland and Greenland) 2 27980 Applied to the student's tuition and fees account 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 of the United States. Institutional 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. Golf Tournament 13995 9770 4225 0 0 4463 0 0 0 Golf Tournament 13876 6361 7515 0 0 9553 0 0 1411 4 28468 14278 14190 0 0 7845 4020 0 7643 56339 30409 25930 0 0 21861 4020 0 9054 34935 -9005 1 Unfunded Institutional Aid 1882 22628600 0 Funded Institutional Aid 96 1157509 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 lll (a) Unfunded Institutional aid is funded from the College's unrestricted resources. Funded Institutional aid consists of the proceeds of endowed scholarhips and annual gifts that were donated to help students pay for the cost of their education. Various state grants would also provide scholarships to assist students with paying for their education. Part lll (b) 98% of traditional students at the College (2,019) received some form of Financial Aid. Therefore, the number of recipients was estimated by multiplying 98% times 2,019 students or 1,978 students and then prorating 1,978 students to Unfunded and Funded aid. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 Kenneth R Garren 260925 0 138966 0 1102 0 0 0 41990 0 442983 0 138966 0 Stephen E Bright 146029 0 0 0 -10425 0 0 0 41055 0 176659 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 activities; (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 when compared to other comparable positions. Industrial Development Authority of the City of Lynchburg Virginia 541225193 55123PBM1 2003-07-16 11937335 Construction and equipping of an Academic bldg & Student housing units 0 0 Industrial Development Authority of the City of Lynchburg Virginia 541225193 55123PBN9 2004-12-22 6575000 Construction & equipping of a Student housing facility & various bldgs on campus 0 0 Economic Development Authority of the City of Lynchburg Virginia 541225193 2010-02-23 4680715 Renovation & equipping of various bldgs for the purpose of reducing the College's energy costs 0 0 11877388 0 0 0 108399 0 11768989 2005 0 0 1 1 6537500 0 0 0 78303 0 6459197 2005 0 0 1 1 4680715 3297034 0 0 53208 0 1330473 0 0 0 1 0 1 0 0 0 0.0028 0 0.0028 1 0 1 0 0 0 0.0007 0 0.0007 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 1 SunTrust Bank 30 0 0 0 0 0 0 0 0 0 Scott Insurance Trustee is President of the Company 171464 Commercial Insurance Provider 0 L G Flint Inc Trustee's husband is President of the Company 421280 Construction on campus 0 J E Jamerson & Sons Inc Trustee's husband is President of the Company 1566733 Construction 0 Roberson Financial Services Trustee is the Owner of the Company 120796 Employee's dental insurance provider 0 Annette Eccles Family member of John Eccles, College Officer 37801 Compensation paid as employee of the College 0 Tyler Eccles Family member of John Eccles, College Officer 25000 Compensation paid as employee of the College 0 Janet Sigler Family member of Julius Sigler, College Officer 35938 Compensation paid as employee of the College 0 X 2 6200 FMV-Opinion of an expert X 11901 FMV-Opinion of an expert X 285 FMV X 17 188489 Avg hi/low on gift date X 1 117500 Appraised value X Automobile provided to the President 1 5052 FMV-Lease value X Various music related donations 3 10105 FMV X Donations of travel expenses 5 2331 FMV X Miscellaneous 34 8915 FMV 0 0 1 0 F990_P03_S00_L02 Form 990, Part III, Line 2 The College is now offering a doctoral program in Physical Therapy (D.P.T.) and plans to offer a Doctorate in Leadership Studies (Ed.D.) degree program in the Fall of 2011. These programs will offer students unique opportunities to pursue rigorous study leading to knowledge and skills vital for productive and active careers. F990_P06_S0B_L11 Form 990, Part VI, Section B, Line 11 The Form 990 is internally prepared and reviewed by management. With respect to the "review process" by the Trustees, the Chair of the Board, the Chair of the Budget and Finance Committee, and all members of the Audit Committee read over the document and notify the Business Office of their approval within three days. The completed Form 990 is then emailed (or sent by overnight delivery) to all Trustees. The Business Office executes and submits the 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 Confict-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 session are documented in the minutes of the meeting. The last compensation survey or study was completed in 2006. Currently, the College has obtained the services of a consultant to analyze the President's compensation package with comparable 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 VP for Business and Finance.