2011-12-15T12:22:24-06:00 2011-07-31 KELLEY GALLOWAY & CO PSC PO BOX 990 ASHLAND KY 411050990 990 2010-08-01 610492351 ALICE LLOYD COLLEGE ALIC 6063682101 100 PURPOSE ROAD PIPPA PASSES KY 41844 DAVID JOHNSON 6063682101 2011-12-15 1 KELLEY GALLOWAY CO PSC 6063291811 2010 2016-02-24 21:20:13Z DAVID JOHNSON 100 PURPOSE ROAD PIPPA PASSES KY 41844 25413950 0 X WWW.ALC.EDU X 1922 KY ALICE LLOYD COLLEGE PROVIDES A FOUR YEAR LIBERAL ARTS EDUCATION TO APPROXIMATELY 600 STUDENTS EACH YEAR. THE MAJORITY OF THESE STUDENTS COME FROM APPALACHIAN AREAS OF KENTUCKY, OHIO, TENNESSEE, VIRGINIA, AND WEST VIRGINIA. FOR SOME, ALICE LLOYD COLLEGE IS THE ONLY HOPE TO PULL THEM AND/OR THEIR FAMILY FROM A LIFE OF POVERTY. ALICE LLOYD COLLEGE HAS BEEN A BEACON OF HOPE FOR OVER 80 YEARS. 22 22 230 49 0 0 4491959 4816381 7300469 7501540 1459040 1805988 254879 268633 13506347 14392542 1458778 1835480 0 0 6320900 6481422 0 0 1261282 4768268 4622625 12547946 12939527 958401 1453015 55922478 58925766 839370 1162731 55083108 57763035 X THE MISSION OF ALICE LLOYD COLLEGE IS TO PROVIDE MOUNTAIN STUDENTS A QUALITY, CHARACTER-BASED EDUCATION, REGARDLESS OF THEIR FINANCIAL ABILITY, AND TO PREPARE THEM FOR LEADERSHIP AND SERVICE IN THE APPALACHIAN REGION. NO STUDENT HAS EVER BEEN TURNED AWAY BECAUSE OF AN INABILITY TO PAY. 0 0 2388790 328144 INSTRUCTIONALICE LLOYD COLLEGE (ALC) HAS AN ENROLLMENT OF 598 STUDENTS. FULL-TIME STUDENTS FROM OUR 108-COUNTY SERVICE AREA (INCLUDES PARTS OF KY, OH, TN, VA AND WV) ARE GUARANTEED ABSOLUTELY NO OUT OF POCKET COSTS FOR TUITION. ALC IS ONE OF ONLY SEVEN WORK COLLEGES IN THE NATION REQUIRING ALL FULL-TIME STUDENTS TO WORK AS A CONDITION FOR ENROLLMENT. EACH YEAR, THE COLLEGE SUPPORTS MANY ALUMNI AT GRADUATE AND PROFESSIONAL SCHOOLS THROUGH ITS CANEY SCHOLARS' PROGRAM. SIXTY-SIX STUDENTS ARE BEING ASSISTED THROUGH THE PROGRAM DURING THE 2011-2012 ACADEMIC YEAR, INCLUDING 18 ENROLLED IN THE MEDICAL FIELD. ALC PROVIDED INSTITUTIONAL LEADERSHIP GRANTS TOTALING $1,519,475 AND $54,342 MINORITY GRANTS DURING THE 2010-2011 FISCAL YEAR. THE PROGRAM SERVICE ACCOMPLISHMENTS: 2011 GRADUATION CLASS OF 87 STUDENTS, 68% HAD NO STUDENT LOAN DEBT, WHILE THE OTHER 32% HAS AN AVERAGE DEBT OF $9217.THE COLLEGE ALSO OPERATES A CHILD DEVELOPMENT CENTER AND A K-12 COLLEGE PREPARATORY SCHOOL (THE JUNE BUCHANAN SCHOOL). JBS HAS A ENROLLMENT OF 100 STUDENTS THIS YEAR. ALL JBS HIGH SCHOOL STUDENTS ARE REQUIRED TO PARTICIPATE IN COMMUNITY SERVICE EVENTS. 1987210 185945 AUXILIARYCOLLEGE HOUSING AND MEAL PLAN, ALONG WITH THE CAMPUS BOOKSTORE AND CAFE', ARE PRIMARILY PART OF THE AUXILIARY SERVICES. THE CAMPUS HAS THE CAPACITY TO HOUSE NEARLY 500 FULL-TIME STUDENTS. THE BOOKSTORE OFFERS STUDENTS A CENTRALIZED AND CONVENIENT LOCATION TO PURCHASE TEXTBOOKS AND SUPPLIES, WHILE THE CAFE' OFFERS FACULTY, STAFF AND STUDENTS A PLACE TO GATHER AND SOCIALIZE WHILE OFFERING AN AFFORDABLE FOOD MENU.BEGINNING IN FISCAL YEAR 2010-2011, ALC BEGAN POSTING TEXTBOOKS ON THE CAMPUS WEBSITE IN ORDER FOR STUDENTS TO HAVE THE OPTION OF SEEKING AFFORDABLE TEXTBOOKS ONLINE OR FROM OTHER SOURCES. ALC CONTINUES TO UPGRADE CAMPUS AUXILIARY SERVICES. THE COLLEGE UPGRADED THE CAFETERIA SERVICE LINE AND SEATING TO ACCOMMODATE STUDENT NEEDS. THE COLLEGE (IN 2012) WILL RENOVATE THE CAMPUS LIBRARY TO IMPROVE COLLABORATIVE LEARNING AND PROMOTE ONLINE LIBRARY BOOKS AND PERIODICALS FOR RESEARCH. THE COLLEGE (IN 2011) COMPLETELY UPGRADED THE CAMPUS NETWORK TO ACCOMMODATE WIRELESS ACCESS AND NETWORK SECURITY. THE CAMPUS SECURITY NETWORK WAS EXPANDED TO THE GIRLS' DORMS AND STUDENT CENTER. THE CANEY COTTAGE IS UNDERGOING RENOVATION WHICH SHOULD BE COMPLETED IN THE SUMMER OF 2012. 1004015 282722 STUDENT SERVICESSTUDENT SERVICES PROGRAMS INCLUDE LEADERSHIP EDUCATION, ATHLETICS, INTRAMURALS, COUNSELING, CAREER PLACEMENT, STUDENT ACTIVITIES BOARD (WHICH PLANS A STUDENT ACTIVITIES CALENDAR EACH SEMESTER), DINING FACILITIES, DORMITORY FACILITIES, BRIDGE PROGRAM (WHICH HELPS STUDENTS MAKE THE TRANSITION FROM HIGH SCHOOL TO COLLEGE), CONVOCATION SERIES, POLICE DEPARTMENT, SUMMER AND FALL ORIENTATIONS (WHICH HELPS STUDENTS MEET FELLOW STUDENTS AND FACULTY MEMBERS AND BECOME ACQUAINTED WITH COLLEGE GUIDELINES AND REGULATIONS). STUDENTS ARE INVOLVED IN MANY COMMUNITY OUTREACH ACTIVITIES SUCH AS THE STUDENT GOVERNMENT ASSOCIATION AND RESIDENT ADVISORS CLOTHING DRIVE FOR THE HOMELESS SHELTER, A FOOD DRIVE FOR THE NEEDY, AND PARTICIPATION IN THE OPERATION CHRISTMAS CHILD PROGRAM.STUDENT ATHLETES WERE INVOLVED AS WELL IN COMMUNITY SERVICE PROJECTS:TRUNK OR TREAT PROGRAM. STUDENT ATHLETES AND OTHER CAMPUS GROUPS DISTRIBUTED CANDY TO LOCAL CHILDREN AT HALLOWEEN.CANCER AWARENESS PROGRAM. WOMENS BASKETBALL HOSTED A PROGRAM FOR STUDENTS TO INCREASE AWARENESS OF BREAST CANCER, DISTRIBUTED LITERATURE, AND PROVIDED VIDEOS.CHRISTMAS PRETTIES PROGRAM. ATHLETES WENT TO LOCAL SCHOOLS TO HAND OUT PRESENTS TO AREA CHILDREN.LITTLE LEAGUE PROGRAM. ATHLETES VOLUNTEERED TO ASSIST WITH THE LOCAL LITTLE LEAGUE PROGRAM IN THE AREA OF FIELD MAINTENANCE AND INSTRUCTION.DIVERSITY AWARENESS. WOMENS BASKETBALL PRESENTED A PROGRAM TO STOP BULLYING.ACADEMIC ORGANIZATIONS WERE INVOLVED IN THE FOLLOWING PROJECTS:PHI BETA LAMBDA (PBL). PBL MEMBERS SERVED AS COUNSELORS FOR CAMP HOPE WHICH IS SPONSORED BY HOSPICE OF THE BLUEGRASS. CAMP HOPE IS FOR CHILDREN WHO HAVE LOST A PARENT TO CANCER. PBL MEMBERS PARTICIPATED IN A WALK FOR THE CURE EVENT IN OCTOBER 2011. PBL MEMBERS ORGANIZED THE WALK, RECRUITED PARTICIPANTS, AND HELD BAKE SALES TO RAISE OVER $1,000 FOR THE SUSAN G. KOMEN FUND. PBL MEMBERS FILLED SHOEBOXES FOR OPERATION CHRISTMAS CHILD, AN INTERNATIONAL MINISTRY. SHIRLEY WAMPLER CAUDILL PLAYERS. THE THEATRE TROUPE HOSTED FREE PRODUCTIONS OF PLAYS IN LOCAL VETERAN'S CENTERS, NURSING HOMES, AND ELEMENTARY SCHOOLS.ALICE LLOYD COLLEGE (ALC) FACULTY. ALC FACULTY PARTICIPATED IN VARIOUS COMMUNITY SERVICE INITIATIVES INCLUDING LION'S CLUB, BOX TOPS FOR EDUCATION, EAGLE THEATRE, HINDMAN SETTLEMENT SCHOOL'S MARIE STEWART CRAFTS GALLERY, AND THE LOCAL CHURCH FOOD DRIVE.ADDITIONAL COMMUNITY OUTREACH IS PROVIDED THROUGH THE BAPTIST COLLEGIATE MINISTRIES (BCM).THE COLLEGE IS NON-SECTARIAN AND STUDENTS ARE ENCOURAGED TO ATTEND THE CHURCH OF THEIR CHOICE. ALC HAS AN ACTIVE BAPTIST COLLEGIATE MINISTRIES CHAPTER THAT IS OPEN TO ALL DENOMINATIONS. BCM IMPACTS THE COMMUNITY BY PROVIDING A SERVICE TEAM THAT GOES INTO THE COMMUNITY TO HELP CHURCHES, INDIVIDUALS, AND OTHER GROUPS WITH HANDS-ON PROJECTS RANGING LAST YEAR FROM SERVING HOMELESS MINISTRIES AND UNDERPRIVILEGED CHILDREN ORGANIZATIONS TO WORKING WITH THE LOCAL DRUG ABUSE COUNCIL. IN ALL, BCM VOLUNTEERED NEARLY 4000 HOURS OF COMMUNITY SERVICE TO MANY NEEDY ORGANIZATIONS. 1966466 1966466 STUDENT AID 581468 124037 ACADEMIC 405819 49224 ADMISSIONS 861160 76551 JUNE BUCHANAN 3814913 2216278 9194928 1 1 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 97 0 230 1 0 0 0 0 0 0 0 0 0 0 0 0 X 22 22 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 1 0 KY X DAVID JOHNSON ALICE LLOYD COLLEGE 6063686031 100 PURPOSE ROAD PIPPA PASSES KY 41844 ROBERT M DUNCAN 2.00 X X 0 0 0 JOE STEPP 70.00 X X 137438 0 55221 DWIGHT J BAUM X 0 0 0 OLIVER CAUDILL X 0 0 0 JEFFREY C DAVIS X 0 0 0 ROBERT W FINLEY SR X 0 0 0 WILLIAM G FRANCIS X 0 0 0 MARK T JOHNSON X 0 0 0 JANICE L KNOPP X 0 0 0 HILDA G LEGG 2.00 X X 0 0 0 LARRY M LESLIE MD 2.00 X X 0 0 0 MR JERRY L EDWARDS X 0 0 0 J SCOTT JENNINGS X 0 0 0 LOWELL D MARTIN MD X 0 0 0 RACHEL D MULLINAX X 0 0 0 GEORGE NICHOLS III X 0 0 0 OWEN H PARK X 0 0 0 WILLIAM J REIK JR X 0 0 0 BURL W SPURLOCK X 0 0 0 KAREN R SELLERS X 0 0 0 ROBERT MICHAEL DUNCAN JR X 0 0 0 HENRY WEBB X 0 0 0 TOWNSELL G MARSHALL X 0 0 0 DAVID JOHNSON 50.00 X 67596 0 22502 LINDA EASTLAND 40.00 X 0 0 0 JIM STEPP 70.00 X 72990 0 6911 CLAUDE CRUM 50.00 X 64596 0 19285 205034 0 77723 1 0 1 0 PIONEER COLLEGE CATERERS INC 12351 WEST 96TH SUITE 204 LENEXA KS 66215 CATERING 684589 SOUTHEAST MAIL SERVICES INC 2528 PALUMBO DRIVE LEXINGTON KY 40509 MAILING 206594 COMPUTER INFORMATION SYSTEMS 513 SOUTH MAIN STREET CORBIN KY 40701 COMPUTER MAINTENANCE 191765 ROBINSON CONSTRUCTION INC 270 ABBOT CREED ROAD PRESTONSBURG KY 41653 CONSTRUCTION 117965 HUFF BUILDING INC 314 MANCHESTER LANE BROADHEAD KY 40409 CONSTRUCTION 104790 6 879252 3937129 4816381 STUDENT TUITION & FEES 611710 5237113 5237113 ROOM & BOARD 611710 1924554 1924554 JUNE BUCHANAN SCHOOL 611710 224663 224663 FAC./STAFF HOUSING 611710 79314 79314 PRE-SCHOOL TUITION 611710 35896 35896 7501540 1313280 1313280 11111961 10619253 492708 492708 492708 547051 402155 144896 144896 OTHER INCOME 611710 110501 110501 OTHER AUXILIARY INCOME 611710 13236 13236 123737 14392542 8262881 0 1313280 1835480 1835480 342620 64596 205034 72990 4946807 3834414 650640 461753 212058 131296 48808 31954 695839 489478 129822 76539 284098 200870 50800 32428 16314 16314 40184 40184 19473 19473 72036 72036 374417 17118 3899 353400 32190 22119 2206 7865 622718 186941 435777 185286 54339 57650 73297 1248460 1165447 83013 180066 180066 FOOD COSTS 582784 582784 SUPPLIES 446221 218678 176139 51404 TELEPHONE 255713 255713 SPECIAL EVENTS 201343 101183 93486 6674 ATHLETICS EXPENSE 139027 139027 206393 131685 53766 20942 12939527 9194928 2483317 1261282 3005713 2571804 77271 126222 9102 9103 110506 115157 54627 309558 42975319 22361357 20722525 20613962 31609554 34791226 333180 388734 55922478 58925766 554446 677228 33894 32818 251030 452685 839370 1162731 X 34459639 36461974 1405381 1488390 19218088 19812671 55083108 57763035 55922478 58925766 X 1453015 1226911 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5824 ORGANIZATIONS DIRECT AND INDIRECT POLITICAL CAMPAIGN ACTIVITIES: PART I-A, LINE 1: THE COLLEGE IS A MEMBER OF THE WORK COLLEGES CONSORTIUM. EACH YEAR THE COLLEGE PAYS ASSESSMENTS TO THE CONSORTIUM TO FUND VARIOUS FUNCTIONS AS A GROUP. PART OF THE PAYMENTS INVOLVES LOBBYING BY THE WORK COLLEGE CONSORTIUM ON BEHALF OF ALL MEMBERS. FEDERAL LOBBYING EXPENSES BY THE CONSORTIUM FOR 2010-2011 WAS $5,823.91. THE PRORATED AMOUNT APPLIED TO ALICE LLOYD COLLEGE. THE CONSORTIUM IS NOT A 501(C)(3) ORGANIZATION. 25786632 479552 3008641 1071821 28203004 22699250 670316 3471627 1054561 25786632 24271492 429481 -2001721 22699252 0.34010 0.65990 0 0 1242945 1242945 30930331 12828335 18101996 10467292 9533022 934270 334751 334751 20613962 SECURITIES 34791226 F 34791226 ANNUITY AND GOV. STDN. ADVANCES 96525 ANNUITY LIABILITY 356160 452685 14392542 12939527 1453015 1503189 -276278 1226911 2679926 16297886 1503189 402155 1905344 14392542 0 14392542 13617960 678433 678433 12939527 0 12939527 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ALICE LLOYD PROVIDES A LIBERAL ARTS EDUCATION TO STUDENTS FROM A 108 COUNTY AREA IN APPALACHIA. A MAJORITY OF STUDENTS ATTENDING ALICE LLOYD COLLEGE ARE FIRST GENERATION STUDENTS WITH LIMITED RESOURCES TO ATTEND INSTITUTIONS OF HIGHER EDUCATION. ALICE LLOYD COLLEGE DEPENDS UPON DONATIONS AND THE ENDOWMENT TO HELP STUDENTS FINANCIALLY THROUGH THE COLLEGE LEADERSHIP SCHOLARHSIP. STUDENTS ATTENDING ALICE LLOYD COLLEGE FROM THE 108 COUNTY AREA IN APPALACHIA PAY $0 TUITION. THE COLLEGE ENDOWMENT IS USED PREDOMINANTLY TO COVER THE COST OF TUITION OF WHICH DURING FISCAL YEAR 2010-2011 WAS IN EXCESS OF $1.5 MILLION. THE ENDOWMENT ALLOWS ALICE LLOYD COLLEGE TO ASSIST STUDENTS IN MAINTAINING A LOW GRADUATION DEBT. THE LAST SEVERAL YEARS ALICE LLOYD COLLEGE HAS RANKED AT OR NEAR THE TOP NATIONALLY IN LOW STUDENT DEBT. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE COLLEGE ADOPTED THE PROVISIONS OF FASB ASC 740-10 RELATING TO UNCERTAINTY IN INCOME TAXES ON JULY 31, 2009. THE IMPLEMENTATION INCLUDED EVALUATING THE TAX POSITIONS TAKEN ON ALL INCOME TAX RETURNS THAT REMAIN OPEN TO EXAMINATION BY THE RESPECTIVE TAXING AUTHORITIES. THE COLLEGE DOES NOT BELIEVE THAT THERE ARE ANY UNCERTAIN POSITIONS ON THSE RETURNS THAT MEET THE REQUIREMENTS OF FASB 740-10 AND THEREFORE SHOULD BE REFLECTED IN THE FINANCIAL STATEMENTS. ANNUITY PAYMENTS 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 COLLEGE CATALOG; PUBLISHED IN AREA NEWSPAPERS, RADIO AND TELEVISION ADVERTISEMENT; POLICIES ARE ALSO PUBLISHED AT SUMMER ORIENTATION FOR STUDENTS AND FAMILIES. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FINANCIAL AID FOR ITS STUDENTS UNDER TITLE IV FINANCIAL AID PROGRAMS: PELL, FCWS, SEOG, AND PERKINS LOAN FUNDS. THE COLLEGE ADHERES TO ALL POLICIES AND PROCEDURES FOR THE RECORDING AND DISBURSEMENT OF SUCH FUNDS. 1 FEDERAL PELL GRANT PROGRAM 363 1367926 ACADEMIC COMPETITIVENESS GRANT 46 32525 NATIONAL SCIENCE AND MATHEMATICS ACCESS TO RETAIN TALENT GRANT (SMART) 16 42971 FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT PROGRAM (SEOG) 36 120739 KENTUCKY TUITION GRANT 278 976526 INSTITUTIONAL GRANTS 512 1574717 KEES 371 478740 RCB SCHOLAR 2 2250 TEACH 9 31232 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: STUDENT FINANCIAL AID PROCEDURES TYPICALLY FOLLOWED BY COLLEGES IN THE UNITED STATES USING FAFSA AND THE COLLEGE'S FINANCIAL AID APPLICATION CRITERIA. FEDERAL GRANTS ARE SUBJECT TO THE SINGLE AUDIT ACT OF THE UNITED STATES. X X 1 1 X 0 0 0 0 0 0 0 1 0 JOE STEPP 137438 0 0 0 0 0 22950 0 32271 0 192659 0 0 0 PART I, LINE 7 THE BOARD OF TRUSTEES SUGGESTED IN 2011 THAT THE PRESIDENT AND HIS SPOUSE TRAVEL TO CHINA. ROBERT FINLEY - OPPENHEIMER & COMPANY BOARD MEMBER ROBERT FINLEY IS A PAID BROKER/INVESTMENT ADVISOR FOR THE COLLEGE THROUGH OPPENHEIMER & COMPANY. ROBERT FINLEY, BOARD MEMBER, IS AN EMPLOYEE OF OPPENHEIMER & COMPANY WHO HANDLES THE COLLEGE'S INVESTMENTS. 0 X 3 247461 NYSE AND NASDAQ 0 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 THE PRESIDENT JOE STEPP AND EXECUTIVE VICE-PRESIDENT ARE BROTHERS. FORM 990, PART VI, SECTION B, LINE 11 THE GOVERNING BODY WAS INFORMED THAT THE FORM 990 WAS AVAILABLE FOR THEIR REVIEW PRIOR TO FILING AND TO E-MAIL DAVID JOHNSON AND REQUEST SUCH. MANAGEMENT APPOINTED TO REVIEW THE FORM 990. FORM 990 PART VI, SECTION B,11 THE GOVERNING BODY WAS INFORMED THAT THE FORM 990 WAS AVAILABLE FOR THEIR REVIEW PRIOR TO FILING AND TO E-MAIL DAVID JOHNSON AND REQUEST SUCH. THE FORM 990 WILL ALSO BE MAILED TO EACH MEMBER OF THE GOVERNING BODY THROUGH THE PRESIDENT'S OFFICE FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE HAS A CONFLICT OF INTEREST POLICY, AS WELL AS A CONFLICT OF INTEREST DISCLOSURE DOCUMENT THAT TRUSTEES AND EXECUTIVE DIRECTORS ARE ASKED TO SIGN, AND HAVE THEIR SIGNATURE WITNESSED EACH YEAR. THE DISCLOSURE DOCUMENT IS GIVEN TO THE TRUSTEES IN OCTOBER. THE SECRETARY TO THE PRESIDENT FOLLOWS UP WITH THOSE WHO DO NOT RETURN THEIR DOCUMENT WITHIN A REASONABLE PERIOD OF TIME. BEGINNING WITH THE JANUARY 2010 EXECUTIVE REPORT UNDER COLLEGE GOVERNANCE, THE CONFLICT OF INTEREST POLICY WILL BE REVIEWED ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT'S SALARY IS SET BY THE BOARD OF TRUSTEES, UPON THE RECOMMENDATION OF THE EXECUTIVE COMMITTEE. THE CHAIRMAN OF THE BOARD DOES A COMPARABILITY STUDY AND MAKES RECOMMENDATIONS TO THE EXECUTIVE COMMITTEE. THE PRESIDENT MAKES A RECOMMENDATION TO THE EXECUTIVE COMMITTEE, AND BOARD, FOR PAY INCREASES FOR LINE OFFICERS AND OTHER EMPLOYEES OF THE COLLEGE. THE PRESIDENT WILL PERIODICALLY (EVERY 2-3 YEARS) REQUEST A COMPARATIVE SALARY LIST FROM THE ASSOCIATION OF INDEPENDENT KENTUCKY COLLEGES AND UNIVERSITIES (AIKCU). FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 1,503,189. ANNUITY PAYMENTS -276,278. TOTAL TO FORM 990, PART XI, LINE 5: 1,226,911. COMMITTEE APPOINTED TO REVIEW THE AUDIT. FORM 990, PART XI, LINE 2C THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.