2023-05-16T15:06:58-05:00 2022-06-30 540643136 HARRIS HARVEY NEAL & COLLPCPA'S PO BOX 3424 DANVILLE VA 245433424 990 2021-07-01 540129860 AVERETT UNIVERSITY AVER 4347915679 420 WEST MAIN STREET DANVILLE VA 24541 DON AUNGST CFO/COO 4347915651 2023-05-16 1 DON AUNGST 999009999 STEPHEN M GAY P00720223 4347923220 2023-05-16 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z DON AUNGST 420 WEST MAIN STREET DANVILLE VA 24541 52671919 0 X WWW.AVERETT.EDU X 1859 VA AVERETT UNIVERSITY PREPARES STUDENTS TO SERVE AND LEAD AS CATALYSTS FOR POSITIVE CHANGE. AVERETT FULFILLS THIS MISSION BY EDUCATING STUDENTS FROM DIVERSE BACKGROUNDS, CULTURES AND NATIONS THROUGH LIBERAL ARTS BASED UNDERGRADUATE AND GRADUATE PROGRMAS IN PERSONAL, COLLEGIAL,INTERDISCIPLINARY ENVIRONMENT. 31 31 0 0 -125033 0 8631526 6898138 43557413 43892457 1039050 499211 64028 1247993 53292017 52537799 18634973 19007712 0 0 16574583 17210289 39913 68742 710007 17090512 22608112 52339981 58894855 952036 -6357056 81230669 74504725 23768418 26397854 57462251 48106871 X AVERETT UNIVERSITY PREPARES STUDENTS TO SERVE AND LEAD AS CATALYSTS FOR POSITIVE CHANGE. AVERETT FULFILLS THIS MISSION BY EDUCATING STUDENTS FROM DIVERSE BACKGROUNDS, CULTURES, AND NATIONS THROUGH LIBERAL ARTS-BASED UNDERGRADUATE AND GRADUATE PROGRAMS IN A PERSONAL, COLLEGIAL, INTERDISCIPLINARY ENVIRONMENT. 0 0 52561547 19007712 45116019 AVERETT PROVIDES INSTRUCTION TO MORE THAN 1,500 STUDENTS LEADING TO UNDERGRADUATE AND GRADUATE DEGREES THROUGH ITS TRADITIONAL AND PROFESSIONAL STUDIES PROGRAMS. AVERETT PREPARES ITS STUDENTS FOR SUCCESSFUL LIVES THROUGH PERSONAL ATTENTION OF EACH STUDENT IN THE LIBERAL ARTS TRADITION. STUDENTS ARE ENCOURAGED TO ASK AND ANSWER IMPORTANT QUESTIONS, FORM AND DEFEND JUDGEMENTS, AND THOUGHTFULLY EVALUATE DIVERSE VIEWS. IN ACCORDANCE WITH OUR CHRISTIAN HERITAGE, WE VALUE ACADEMIC AND RELIGIOUS FREEDOM, SPIRITUAL GROWTH, ACADEMIC EXCELLENCE, DIVERSITY, AND TOLERANCE. 52561547 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 0 1 1 1 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 31 31 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X DON AUNGST CFOCOO 4347915651 420 WEST MAIN STREET DANVILLE VA 24541 DANIEL CARLTON TRUSTEE 1.00 X 0 0 0 ANNIE WIMBISH CHAIRPERSON 1.00 X X 0 0 0 JESSIE BARKSDALE TRUSTEE 1.00 X 0 0 0 JAN BARNETT TRUSTEE 1.00 X 0 0 0 KIRK BIDGOOD TRUSTEE 1.00 X 0 0 0 RICHARD BROWN TRUSTEE 1.00 X 0 0 0 BRADLEY COHEN TRUSTEE 1.00 X 0 0 0 GARY COLLINS TRUSTEE 1.00 X 0 0 0 AFIRA DEVRIES TRUSTEE 1.00 X 0 0 0 JACOB FRITH TRUSTEE 1.00 X 0 0 0 MARK GIGNAC TRUSTEE 1.00 X 0 0 0 LINDA GREEN TRUSTEE 1.00 X 0 0 0 JOHN EDDIE HERNDON JR TRUSTEE 1.00 X 0 0 0 SHELIA HILL-CHRISTIAN TRUSTEE 1.00 X 0 0 0 MICHAEL KECK TRUSTEE 1.00 X 0 0 0 EMMA MADDUX KOZLOWSKI VICE CHAIRPERSON 1.00 X X 0 0 0 MICHAEL LUTER TRUSTEE 1.00 X 0 0 0 KELVIN PERRY TRUSTEE 1.00 X 0 0 0 BRANDON POTTER TRUSTEE 1.00 X 0 0 0 TONI RICE TRUSTEE 1.00 X 0 0 0 MARY RIDDLE TRUSTEE 1.00 X 0 0 0 RICHARD ROCCESANO TRUSTEE 1.00 X 0 0 0 L SAMUEL SAUNDERS TRUSTEE 1.00 X 0 0 0 CALVIN SNOWDEN TRUSTEE 1.00 X 0 0 0 DEBORAH UPTON TRUSTEE 1.00 X 0 0 0 CHRISTOPHER WEST TRUSTEE 1.00 X 0 0 0 HAMPTON WILKINS TRUSTEE 1.00 X 0 0 0 KRIS WILLARD TRUSTEE 1.00 X 0 0 0 TODD YEATTS TRUSTEE 1.00 X 0 0 0 ELLEN BEVILLE TRUSTEE 1.00 1.00 X 0 0 0 SARAH COLLIE TRUSTEE 1.00 1.00 X 0 0 0 TIFFANY FRANKS PRESIDENT 40.00 X 308428 0 34769 DON AUNGST VP FINANCE, CFO 40.00 X 248006 0 41904 TIMOTHY FULOP VP ACADEMICS 40.00 X 163404 0 42432 VENITA MITCHELL VP ADVANCEMENT 40.00 X 133607 0 25214 TERESA BREACH SCHOOL OF NURSING 40.00 X 130433 0 28255 PEGGY WRIGHT BUSINESS DEPARTMENT 40.00 X 114586 0 34883 MELISSA WOHLSTEIN VP INSTITUTIONAL ADVANCEMENT 40.00 X 172057 0 29307 1270521 0 236764 7 0 1 0 ORBIS EDUCATION 2600 W CAMELBACK ROAD PHOENIX AZ 85017 CONTRACT MANAGEMENT FEE 3438003 CLOUD CONTROL MEDIA LLC DEPT LA 24990 PASEDENIA CA 91185 CONTRACT MANAGEMENT FEE 2553194 BON APPETIT PO BOX 91337 CHICAGO IL 60693 CONTRACT MANAGEMENT FEE 1162138 ARAMARK 27310 NETWORK PLACE CHICAGO IL 44194 CONTRACT MANAGEMENT FEE 882197 SECURITAS 9 CAMPUS DRIVE PARISPPANY NJ 07054 CONTRACT MANAGEMENT FEE 268126 36 3976693 2921445 6898138 TUITION AND FEES 611310 37656101 37656101 AUXILIARY ENTERPRISES 611310 5203141 5203141 OTHER PROGRAM SERVICE FEES 900099 1033215 1033215 43892457 624244 624244 32625 0 32625 32625 32625 125033 -125033 -125033 -125033 33518 9087 24431 24431 FIXED BASED OPERATIONS 900099 1190937 1190937 1190937 52537799 45083394 -125033 681300 19007712 19007712 556434 556434 13406401 11841615 1081356 483430 1543149 1543149 1704305 1704305 52652 52652 83334 82809 525 68742 68742 501504 294890 174712 31902 1941243 1941243 197502 102252 62394 32856 562555 494946 67609 1798396 1264997 486183 47216 585727 558297 24737 2693 138748 121894 16854 842835 719785 123050 2143707 1769245 331819 42643 779481 779481 OTHER CONTRACTUAL SERVI 3486358 3486358 REPAIRS AND MAINTENANCE 3145990 2524541 621449 STUDENT FOOD SERVICE 2038369 2038369 STUDENT AID 1701607 1701607 2608104 2608104 58894855 52561547 5623301 710007 2671930 1301385 4606388 2993186 1244244 1661631 1664331 1523727 1450247 1840282 69216927 30325718 38264832 38891209 23394433 20491473 7884146 5764597 50118 37235 81230669 74504725 2438579 3620512 1351926 1139504 2319242 2864586 14150000 13870000 2351776 3593257 1156895 1309995 23768418 26397854 X 17929575 13383354 39532675 34723517 57462251 48106871 81230669 74504725 X -6357056 -2658506 -339818 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 31001822 323660 -2090435 1195200 1385057 26654790 26102289 806658 5224575 515400 616300 31001822 26186388 898554 17147 476500 523300 26102289 25779568 285435 1156054 464100 567100 3469 26186388 23522153 1443236 1854992 450900 585800 4113 25779568 1 0 2560830 2560830 34456469 14621319 19835150 19908699 6715865 13192834 5990986 4333337 1657649 6299943 4655197 1644746 38891209 BENEFICIAL INTERESTS 3566940 F LIFE INSURANCE 16318 F ENDOWMENT INTEREST 41290 F REAL ESTATE INVESTMENTS 1841906 F CASH & CASH EQUIVALENTS 34410 C CORPORATE BONDS 263733 F 5764597 LIABILITY UNDER ANNUITY AND TRUST AGREEMENT 38573 OPERATING LEASE LIABILITY 1271422 1309995 X 30405368 -2658506 -19347530 -22006036 52411404 126395 126395 52537799 39760748 0 39760748 126395 19007712 19134107 58894855 PART X, LINE 2: MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF FASB ACCOUNTING STANDARDS CODIFICATION THE UNIVERSITY FILES 990 IN ACCORDANCE WITH APPLICABLLE US FEDERAL REGULATIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFIED GRANTS & SCHOLARSHIPS CHANGE IN VALUE OF PERPETUAL TRUSTS CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS PART XI, LINE 4B - OTHER ADJUSTMENTS: DIRECT FUNDRAISING FUND ADJUSTMENT PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFIED GRANTS & SCHOLARSHIPS PART XI, LINE 2D - OTHER ADJUSTMENTS RECLASSIFIED GRANTS & SCHOLARSHIPS 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 CATALOGS, PUBLICATIONS, BROCHURES, WEBSITE, AND ADVERTISING LINE 6 - EXPLANATION OF GOVERNEMNT FINANCIAL AID: THE UNIVERSITY RECEIVES VARIOUS GOVERNMENT GRANTS INCLUDING PELL, SEOG AND FEDERAL WORK STUDY. EUROPE (INCLUDING ICELAND & GREENLAND) PROGRAM SERVICES RECRUITMENT 37711 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM PROGRAM SERVICES STUDY ABROAD 28825 0 0 0 0 0 0 66536 0 66536 0 0 0 0 0 0 PART III ACCOUNTING METHOD: X X X X X X X 0 THE VIRGINIA COLLEGE FUND 4900 AUGUSTA AVE RICHMOND VA 23230 SOLICITS FOR FINANCIAL SUPPORT 0 54327 34371 19956 54327 34371 19956 GOLF TOURNAMENT 33518 33518 6162 2926 33518 33518 6162 2926 9088 24430 0 SCHLOARSHIPS AND GRANTS TO STUDENTS 963 17407207 X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 TIFFANY FRANKS PRESIDENT 308428 0 0 0 0 0 27000 0 7769 0 343197 0 0 0 DON AUNGST VP FINANCE, CFO 248006 0 0 0 0 0 23256 0 18648 0 289910 0 0 0 TIMOTHY FULOP VP ACADEMICS 163404 0 0 0 0 0 27000 0 15432 0 205836 0 0 0 MELISSA WOHLSTEIN VP INSTITUTIONAL ADVANCEMENT 172057 0 0 0 0 0 10749 0 18558 0 201364 0 0 0 VENITA MITCHELL VP ADVANCEMENT 133607 0 0 0 0 0 13977 0 11237 0 158821 0 0 0 TERESA BREACH SCHOOL OF NURSING 130433 0 0 0 0 0 13915 0 14340 0 158688 0 0 0 A INDUSTRIAL DEVELOPMENT AUTHORITY OF VCITY OF DANVILLE VA 521321074 2017-10-01 14675000 REFUND EXISTING BONDS, CAPITAL IMPROVEMENT 0 0 0 A 15035000 564313 439087 3419022 11047274 2018 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 0 1 0 0 0 1 A 1 X 6 285650 FMV ON DATE OF SALE 0 1 1 PART I, LINE 32B: THE UNIVERSITY USES A THIRD PARTY TO SOLICIT GENERAL CONTRIBUTIONS, SOME OF WHICH ARE NON-CASH DONATIONS FORM 990, PART VI, SECTION B, LINE 11B A COMPLETE COPY OF FORM 990 IS PROVIDED TO AND APPROVED BY THE ENTIRE BOARD OF TRUSTEES BEFORE IT IS FILED WITH THE IRS FORM 990, PART VI, SECTION B, LINE 12C A "CONFLICT OF INTEREST" ARISES WHEN A PERSON IN A POSITION OF AUTHORITY OVER AN ORGANIZATION, SUCH AS A TRUSTEE OR OFFICER, MAY BENEFIT PERSONALLY FROM A DECISION HE OR SHE COULD MAKE. INTERESTED PERSON INCLUDES ANY TRUSTEE, PRINCIPAL OFFICER, OR MEMBER OF COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS, WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST, AS DEFINED BELOW, IN AN INTERESTED PERSON. A PERSON HAS FINANCIAL INTEREST IF THE PERSON HAS, DIRECTLY OR INDIRECTLY, THROUGH BUSINESS, INVESTMENT, OR FAMILY; A) AN OWNERSHIP OF INVESTMENT INTEREST IN ANY ENTITY WITH WHICH AVERETT HAS A TRANSACTION OR ARRANGEMENT, B) A COMPENSATION ARRANGEMENT WITH AVERETT OR WITH ANY ENTITY OR INDIVIDUAL WITH WHICH AVERETT HAS A TRANSACTION OR ARRANGEMENT, OR C) A POTENTIAL OWNERSHIP OR INVESTMENT INTEREST IN, OR COMPENSATION ARRANGEMENT WITH, ANY ENTITY OR INDIVIDUAL WITH WHICH AVERETT IS NEGOTIATING A TRANSACTION OR ARRANGEMENT IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST. AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE BOARD OR EXECUTIVE COMMITTEE CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE MEETING DURING THE BOARD OR EXECUTIVE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR EXECUTIVE COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. IN ADDITION, ANY TRUSTEE MAY RECUSE THEMSELVES AT ANY TIME FROM INVOLVEMENT IN ANY DECISION OR DISCUSSION IN WHICH THE TRUSTEE BELIEVES THAT HE/SHE HAS OR MAY HAVE A CONFLICT OR INTEREST, WITHOUT GOING THROUGH THE PROCESS FOR DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS. IF THE BOARD OR EXECUTIVE COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILIED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. THE MINUTES OF THE BOARD AND ALL COMMITTEES WITH BOARD DELEGATED POWERS SHALL CONTAIN A) THE NAMES OF THE PERSONS WHO DISCLOSED OR OTHERWISE WERE FOUND TO HAVE A FINANCIAL INTEREST IN CONNECTION WITH AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, THE NATURE OF THE FINANCIAL INTEREST, ANY ACTION TAKEN TO DETERMINE WHETHER A CONFLICT OF INTEREST WAS PRESENT, AND THE BOARD'S OR EXECUTIVE COMMITTEE'S DECISION AS TO WHETHER A CONFLICT OF INTEREST IN FACT EXISTED B) THE NAMES OF PERSONS WHO WERE PRESENT FOR DISCUSSIONS AND VOTES RELATING TO THE TRANSACTION OR ARRANGEMENT, THE CONTENT OF THE DISCUSSION, INCLUDING ANY ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANAGEMENT, AND A RECORD OF ANY VOTES TAKEN IN CONNECTION WITH THE PROCEEDINGS. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE (AN INDEPENDENT BODY) REVIEWS COMPARABLE DATA WITH PEER INSTITUTIONS AND APPROVES THE PRESIDENT'S EMPLOYEE CONTRACT. THE PROCESS IS DOCUMENTED IN THE EXECUTIVE COMMITTEE MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY COMPLIES WITH PUBLIC DISCLOSURE REQUIREMENTS AND MAKES THESE DOCUMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF PERPETUAL TRUSTS & SPLIT INTEREST AGREEMENTS -339,818.