2022-05-05T09:11:12-05:00 2021-06-30 390859910 BAKER TILLY US LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2020-07-01 240795965 LYCOMING COLLEGE LYCO 5703214000 ONE COLLEGE PLACE WILLIAMSPORT PA 17701 JEFFREY L BENNETT CPA VP FINANCE & ADMIN CFO/TREASURER 5703214000 2022-05-02 1 JEFFREY BENNETT CPA 999009999 KERRI N BOGDA CPA P00760402 7177404863 X 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z JEFFREY L BENNETT CPA ONE COLLEGE PLACE WILLIAMSPORT PA 17701 124396479 0 X WWW.LYCOMING.EDU X 1947 PA TO PROVIDE A DISTINGUISHED BACCALAUREATE EDUCATION IN THE LIBERAL ARTS AND SCIENCES. 34 33 1027 80 0 0 7324564 9846840 57899223 55884120 3010619 22520221 691727 434628 68926133 88685809 33838300 33166265 0 0 23632741 23875005 0 0 1275793 20523059 20669259 77994100 77710529 -9067967 10975280 279702335 328481889 53758735 56340889 225943600 272141000 X THE MISSION OF LYCOMING COLLEGE IS TO PROVIDE A DISTINGUISHED BACCALAUREATE EDUCATION IN THE LIBERAL ARTS AND SCIENCES WITHIN A COEDUCATIONAL, SUPPORTIVE, AND RESIDENTIAL SETTING. 0 0 64750451 33166265 55946461 LYCOMING COLLEGE IS A FOUR-YEAR LIBERAL ARTS BASED, CO-EDUCATIONAL, INDEPENDENT COLLEGE WHOSE PRIMARY FUNCTION IS THE PRESENTATION OF FORMAL INSTRUCTION. THE COLLEGE HAS A REGULAR FACULTY, A REGULARLY SCHEDULED CURRICULUM (CONSISTING OF FALL, SPRING, MAY AND SUMMER TERM), AND A REGULARLY ENROLLED STUDENT BODY IN ATTENDANCE AT ITS CAMPUS LOCATED IN WILLIAMSPORT, PENNSYLVANIA. THE COLLEGE'S AREAS OF CONCENTRATION INCLUDE BACHELOR OF ARTS DEGREES IN 32 MAJOR FIELDS AND BACHELOR OF SCIENCE DEGREES IN 5 MAJOR FIELDS. PROGRAM SERVICES OF THE COLLEGE INCLUDE THE COST OF INSTRUCTION, ACADEMIC SUPPORT, STUDENT SERVICES, INSTITUTIONAL SUPPORT, AND SCHOLARSHIPS. CONTINUED ON SCHEDULE OTHE COST OF INSTRUCTION INCLUDES EXPENSES CONTRIBUTING DIRECTLY TO THE PRESENTATION OF FORMAL INSTRUCTION FOR THE 37 AFOREMENTIONED MAJORS.ACADEMIC SUPPORT IS ALL EXPENSES RELATED TO THOSE AREAS OF THE COLLEGE SUCH AS THE COLLEGE LIBRARY, COMPUTER CENTER, ACADEMIC RESOURCE CENTER, THE INSTITUTION FOR MANAGEMENT STUDIES, AND CENTER FOR ACADEMIC EXPERIENCES. STUDENT SERVICES ARE ALL OF THE EXPENSES SPECIFICALLY RELATED TO PROVIDING "OUR CUSTOMER", THE STUDENT, WITH A COMPLETE COLLEGE EXPERIENCE. SUCH AREAS WOULD INCLUDE THE REGISTRAR, COMMUNITY SERVICES, HEALTH SERVICES, RECREATION CENTER, ATHLETICS, COUNSELING SERVICES, ADMISSIONS, FINANCIAL AID, RELIGIOUS ACTIVITIES, OFFICE OF STUDENT PROGRAMS, AND THE DEAN OF STUDENTS. INSTITUTIONAL SUPPORT INCLUDES ALL EXPENSES OF MAINTAINING THE CAMPUS FACILITIES AND PROVIDING FOR ITS EMPLOYEES, SUCH AS BUILDINGS AND GROUNDS, SECURITY, OFFICE OF THE PRESIDENT, BUSINESS OFFICE, HUMAN RESOURCES, MAIL SERVICES, COLLEGE RELATIONS, ETC.STUDENT FINANCIAL AID FROM INTERNAL SOURCES REPRESENTED APPROXIMATELY 76% OF GROSS TUITION AND FEE REVENUE. IN ADDITION TO SOURCES OF INTERNAL AND EXTERNAL FINANCIAL AID, AND THE LYCOMING GRANT PROGRAM (NEED-BASED), LYCOMING COLLEGE OFFERS NUMEROUS SCHOLARSHIPS TO ACADEMICALLY TALENTED STUDENTS. MOST ACADEMIC SCHOLARSHIPS ARE AUTOMATICALLY RENEWED IN THEIR ORIGINAL AMOUNT FOR THE FOLLOWING YEAR PROVIDED THE STUDENT MAINTAINS SATISFACTORY ACADEMIC PROGRESS AS DEFINED IN THE COLLEGE CATALOG. ENROLLMENT FOR THE 2020-2021 ACADEMIC YEAR WAS APPROXIMATELY 1,083 FULL-TIME EQUIVALENTS. 64750451 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1634 0 1027 1 1 1 1 CJ 0 0 0 0 0 0 0 0 0 0 X 34 33 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 PA X JEFFREY L BENNETT CPA 5703214031 ONE COLLEGE PLACE WILLIAMSPORT PA 17701 DR KENT C TRACHTE PRESIDENT 40.00 X X 352084 0 132221 STANLEY W SLOTER CHAIRMAN 1.00 X X 0 0 0 D MARK FULTZ VICE CHAIRMAN 1.00 X X 0 0 0 DONALD W HUGHES SECRETARY 1.00 X X 0 0 0 ANN S PEPPERMAN ESQ ASSISTANT SECRETARY 1.00 X X 0 0 0 LEIGH T HOWE ASSISTANT SECRETARY 1.00 X X 0 0 0 MELVIN H CAMPBELL JR TRUSTEE 1.00 X 0 0 0 JAY W CLEVELAND JR TRUSTEE 1.00 X 0 0 0 JOHN C DIMARCO JR TRUSTEE 1.00 X 0 0 0 DR WILLIAM E EVANS DMD TRUSTEE 1.00 X 0 0 0 DONALD E FAILOR TRUSTEE 1.00 X 0 0 0 DAVID E FREET TRUSTEE 1.00 X 0 0 0 DAVID D GATHMAN TRUSTEE 1.00 X 0 0 0 COLLEEN M HEISEY TRUSTEE 1.00 X 0 0 0 LINDA PORR SWEENEY TRUSTEE 1.00 X 0 0 0 DR JAMES M JEFFRIES III MD FACS TRUSTEE 1.00 X 0 0 0 BRIAN L BELZ TRUSTEE 1.00 X 0 0 0 DANIEL R LANGDON TRUSTEE 1.00 X 0 0 0 DR JOHN E MARTHINSEN TRUSTEE 1.00 X 0 0 0 NANCI D MORRIS TRUSTEE 1.00 X 0 0 0 FRANK G PELLEGRINO TRUSTEE 1.00 X 0 0 0 DAVID L SCHOCH TRUSTEE 1.00 X 0 0 0 JAMES G SCOTT TRUSTEE 1.00 X 0 0 0 CHERYL E SPENCER TRUSTEE 1.00 X 0 0 0 BARBARA LOVENDUSKI SYLK TRUSTEE 1.00 X 0 0 0 JOHN S TROGNER JR TRUSTEE 1.00 X 0 0 0 DIANE DALTO WOOSNAM TRUSTEE 1.00 X 0 0 0 TIMOTHY L MYERS TRUSTEE 1.00 X 0 0 0 DR KENT D CHAPMAN TRUSTEE 1.00 X 0 0 0 BARBARA B HEIM TRUSTEE 1.00 X 0 0 0 DR STEVEN P JOHNSON TRUSTEE 1.00 X 0 0 0 TAMMY E WEBER TRUSTEE 1.00 X 0 0 0 DR MARINA N VERNALIS TRUSTEE 1.00 X 0 0 0 ROBERT W BUCKNAM JR TRUSTEE 1.00 X 0 0 0 JEFFREY L BENNETT CPA VP FINANCE & ADMIN CFO/TRE 40.00 X 180419 0 17165 CHARLES W EDMONDS EXECUTIVE VP COLLEGE ADVAN 40.00 X 207492 0 30506 DR PHILIP W SPRUNGER PROVOST 40.00 X 187494 0 24379 MICHAEL J KONOPSKI VP ENROLLMENT MANAGEMENT 40.00 X 151911 0 24475 ROBERT L DUNKLEBERGER CHIEF INFORMATION OFFICER 40.00 X 126227 0 24813 DANIEL P MILLER VP STUDENT LIFE 40.00 X 131439 0 19030 MICHAEL CLARK ATHLETIC DIR/HEAD FOOTBALL 40.00 X 136573 0 12691 JOHN M WHELAN PROFESSOR 40.00 X 106479 0 20667 CHRIS MCDONALD PROFESSOR 40.00 X 102997 0 16691 SUSAN ROSS VICE PROVOST 40.00 X 118788 0 11073 MEHRDAD MADRESEHEE PROFESSOR 40.00 X 106459 0 10157 1908362 0 343868 13 0 1 0 PARKHURST DINING SERVICES 285 WATERFORD DRIVE NEW HOMESTEAD PA 15120 CONTRACTED FOOD SVCS 3814454 JB GIBBONS CONSTRUCTION 2725 MCCOY STREET WILLIAMSPORT PA 17701 BUILDING CONTRACTOR 806585 EAB 1920 E PARKHAM ROAD RICHMOND VA 23228 STUDENT MARKETING SVCS 691342 BAXTER HODELL DONNELY PRESTON INC 302 W 3RD STREET CINCINNATI OH 45202 ARCHITECTURAL SVCS 474896 ELLUCIAN COMPANY LP 62578 COLLECTIONS CTR DR CHICAGO IL 60693 COMPUTER SVCS 322954 20 10000 4081797 5755043 721152 9846840 TUITION & FEES 611710 43577099 43577099 AUXILIARY ENTERPRISES 611710 12307021 12307021 55884120 2191913 2191913 44790 43952 838 838 838 55905431 35577123 20328308 20328308 20328308 150796 89595 61201 61201 INSURANCE POLICY REBATES 900099 206438 206438 PARKING REVENUE 900099 67970 67970 VENDING COMMISSIONS 900099 21229 21229 76952 1140 75812 372589 88685809 55946461 0 22892508 33166265 33166265 1486329 367827 1118502 16481258 13336151 2271669 873438 1193948 975465 147475 71008 3557017 2820459 650221 86337 1156453 929262 166393 60798 29332 29332 119086 119086 195160 113934 81226 4757453 4045777 674376 37300 1066514 968995 70239 27280 3918602 3493227 340046 85329 1531694 689222 842472 153130 128261 10299 14570 1302119 1275321 26798 4502920 534208 3968712 595727 92716 503011 MEMBERSHIPS 141798 51944 75194 14660 SPECIAL EVENTS 129036 7193 117578 4265 DEBT SVC TRUSTEE FEES 37740 37740 BAD DEBTS 36459 36459 2152489 1754224 397457 808 77710529 64750451 11684285 1275793 2634777 5856720 5118276 1362024 5961625 6448459 31742 64047 1081127 909713 153811578 83168006 72652744 70643572 181650782 231879932 3348701 2992102 7222561 8325320 279702335 328481889 975972 1177515 40020000 39185000 4374053 4319053 8388710 11659321 53758735 56340889 X 163139000 206264000 62804600 65877000 225943600 272141000 279702335 328481889 X 10975280 34338692 883428 X 0 1 X 1 1 1 X 6827981 10314207 9288488 7324564 9846840 43602080 6827981 10314207 9288488 7324564 9846840 43602080 2203136 41398944 9625929 2289850 3096865 1790294 2236703 19039641 1254170 1021816 1036027 822766 523385 4658164 67299885 286072774 0.61510 0.54820 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SALES OF INVENTORY - 2016 AMOUNT: $ 508,945. 2017 AMOUNT: $ 258,576. 2018 AMOUNT: $ 218,541. 2019 AMOUNT: $ 162,988. 2020 AMOUNT: $ 150,796. SUMMER CONFERENCE - 2016 AMOUNT: $ 472,989. 2017 AMOUNT: $ 411,238. 2018 AMOUNT: $ 487,235. 2019 AMOUNT: $ 355,748. 2020 AMOUNT: $ 0. FACILITY USE REVENUE - 2016 AMOUNT: $ 28,254. 2017 AMOUNT: $ 26,411. 2018 AMOUNT: $ 38,922. 2019 AMOUNT: $ 11,785. 2020 AMOUNT: $ 0. INSURANCE PREMIUM REBATE - 2018 AMOUNT: $ 111,373. 2019 AMOUNT: $ 106,683. 2020 AMOUNT: $ 206,438. OTHER - 2016 AMOUNT: $ 152,377. 2017 AMOUNT: $ 203,449. 2018 AMOUNT: $ 84,821. 2019 AMOUNT: $ 103,335. 2020 AMOUNT: $ 98,181. PARKING REVENUE - 2016 AMOUNT: $ 91,605. 2017 AMOUNT: $ 122,142. 2018 AMOUNT: $ 95,135. 2019 AMOUNT: $ 82,227. 2020 AMOUNT: $ 67,970. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 185588000 796000 55121000 6829000 5067000 229609000 201549000 2942000 2086000 6512000 14477000 185588000 207600000 7760000 8672000 6478000 16005000 201549000 200823000 2940000 13104000 6747000 2520000 207600000 183383000 2258000 24541000 6983000 2376000 200823000 0.76000 0.24000 0 0 928413 8372951 9301364 650562 109794008 52999088 57445482 8321511 7805298 516213 18499594 15299296 3200298 7244539 7064324 180215 70643572 OTHER LIABILITIES 6291793 SPLIT-INTEREST AGREEMENTS 4309536 ADVANCE FROM FEDERAL GOVERNMENT FOR STUDENT LOANS 780377 UNAMORTIZED BOND PREMIUM 491076 UNAMORTIZED BOND DISCOUNT -213461 11659321 X 90831259 34338692 -32282837 2055855 88775404 -89595 -89595 88685809 44633859 89595 89595 44544264 33166265 33166265 77710529 PART III, LINE 4: THE COLLEGE ARCHIVES MAINTAIN A COLLECTION OF DOCUMENTS AND PHOTOGRAPHS PRESERVING THE HISTORY OF THE COLLEGE, AS WELL AS ARTIFACTS AND UNIQUE ITEMS SUCH AS STUDENT AND GROUP SCRAPBOOKS, A COLLECTION OF COLLEGE POSTCARDS, DEPARTMENTAL HONORS PAPERS, AND HISTORICAL METHODS PAPERS. THESE ARCHIVAL MATERIALS FOLLOW THE HISTORY OF THE SCHOOL FROM ITS EARLIEST INCARNATION AS THE WILLIAMSPORT ACADEMY (1812-1848), THROUGH ITS YEARS AS WILLIAMSPORT DICKINSON SEMINARY (1848-1928) AND WILLIAMSPORT DICKINSON SEMINARY AND JUNIOR COLLEGE (1928-1947) TO LYCOMING COLLEGE (1948-PRESENT). THE PURPOSE OF THE LYCOMING COLLEGE ARCHIVES IS TO COLLECT INACTIVE MATERIALS OF MANY TYPES THAT REFLECT UPON OUR HERITAGE THROUGH THE HISTORY, DEVELOPMENT, AND ADMINISTRATION OF LYCOMING COLLEGE, AND TO STRENGTHEN THE EDUCATIONAL MISSION OF THE COLLEGE BY PRESERVING AND MAKING AVAILABLE FOR RESEARCH VARIOUS MATERIALS OF A UNIQUE NATURE THAT RELATE TO THE HISTORY OF THE INSTITUTION. A FUNDAMENTAL PURPOSE OF THE COLLECTION IS TO ENGAGE STUDENTS ACTIVELY IN ORIGINAL RESEARCH WHILE REACHING A REASONABLE COMPROMISE BETWEEN USE AND PRESERVATION. THE LYCOMING COLLEGE ART GALLERY ENRICHES THE CULTURAL LIFE ON CAMPUS, IN THE WILLIAMSPORT COMMUNITY, AND THROUGHOUT THE REGION. THE EXHIBITIONS PRESENTED AND THE PROGRAMS WHICH ACCOMPANY THEM (LECTURES, ARTIST GALLERY TALKS, CLASS VISITS, ETC.) ARE INTENDED TO DEEPEN THE UNDERSTANDING OF ART, BOTH HISTORICAL AND OF OUR TIME, AND TO COMPLEMENT THE COLLEGE'S VISUAL ARTS CURRICULUM AND OTHER INTERDISCIPLINARY ACADEMIC PROGRAMS. THE GALLERY ALSO SERVES THE ART HISTORY AND STUDIO ART CURRICULAR BY PROVIDING AN OPPORTUNITY FOR OBJECT-CENTERED LEARNING, AND THE HUMANITIES CURRICULAR, THROUGH THE PRESENTATION OF UNIQUE CULTURAL AND HISTORIC WORKS OF ART. WE HOPE TO CHALLENGE AND STIMULATE OUR STUDENTS AND THE PUBLIC BY EXPOSING THEM TO NEW IDEAS AND ENCOURAGING THEM TO THINK INDEPENDENTLY AND CREATIVELY ABOUT THEIR WORK AND THEIR WORLD. THE LYCOMING COLLEGE ART GALLERY IS A WONDERFUL RESOURCE FOR STUDENTS AND THE WILLIAMSPORT COMMUNITY, A NICE CHANGE OF VENUE FOR FACULTY, A RESTFUL ESCAPE FOR STAFF, AND A GREAT PLACE FOR EVERYONE TO BRING FRIENDS AND FAMILY, THEREBY INCREASING THE VISIBILITY OF LYCOMING COLLEGE. PART V, LINE 4: THE FUND SERVES TWO GOALS: (A) TO OFFSET EXPENDITURES OF THE INSTITUTION NOT COVERED BY THE NORMAL OPERATING FUNDS AND (B) TO ENSURE THAT FUTURE GROWTH IS SUFFICIENT TO OFFSET INFLATION PLUS REASONABLE SPENDING, THEREBY PRESERVING THE CONSTANT DOLLAR VALUE AND PURCHASING POWER OF THE FUND. THIS WILL BE ACCOMPLISHED THROUGH A CAREFULLY PLANNED AND EXECUTED LONG-TERM INVESTMENT PROGRAM. THE OBJECTIVE OF THE INVESTMENT PROGRAM IS TO ENHANCE THE FUND'S LONG-TERM VIABILITY BY MAXIMIZING THE VALUE OF THE FUND WITH A PRUDENT LEVEL OF RISK. A SUCCESSFUL INVESTMENT PROGRAM MUST BE BALANCED BY A RESTRAINED ENDOWMENT SPENDING POLICY. PART X, LINE 2: THE COLLEGE ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING A RECOGNITION THRESHOLD OF MORE LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD IS MET. MANAGEMENT DETERMINED THAT THERE WERE NO TAX UNCERTAINTIES THAT MET RECOGNITION THRESHOLD IN FISCAL YEAR 2021 AND 2020. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 787,934. CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS 95,494. GRANTS & SCHOLARSHIPS -33,166,265. PART XI, LINE 4B - OTHER ADJUSTMENTS: CAMPUS STORE EXPENSES -89,595. PART XII, LINE 2D - OTHER ADJUSTMENTS: CAMPUS STORE EXPENSES 89,595. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS & SCHOLARSHIPS 33,166,265. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE POLICY IS INCORPORATED INTO THE MISSION STATEMENT OF THE COLLEGE, WHICH IS INCLUDED ON THE COLLEGE'S WEBSITE, PUBLICATIONS, ETC. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES VARIOUS FEDERAL GRANTS DIRECTLY FROM THE U.S. DEPARTMENT OF EDUCATION. THESE GRANTS INCLUDE SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS, COLLEGE WORK-STUDY FUNDING, PELL GRANTS, AND TECHNOLOGY GRANTS. THE COLLEGE ALSO RECEIVES GRANTS FROM THE COMMONWEALTH OF PENNSYLVANIA, THE MOST SIGNIFICANT OF WHICH IS THE INSTITUTIONAL ASSISTANCE GRANT. 1 INSTITUTIONAL GRANTS/SCHOLARSHIPS 1069 32954853 0 N/A N/A SEOG GRANTS 226 211412 0 N/A N/A PART I, LINE 2: ALL STUDENTS APPLYING FOR FEDERAL FUNDS ARE REQUIRED TO SUBMIT THE FREE APPLICATION FOR FEDERAL STUDENT AID ("FAFSA"). THE FINANCIAL AID OFFICE REVIEWS THE RESULTS OF THE FAFSA, WHICH DICTATES WHAT AND HOW MUCH FEDERAL FUNDING THE INDIVIDUAL STUDENT IS ELIGIBLE FOR. IF THE STUDENT IS DETERMINED TO BE IN COMPLIANCE WITH ALL FEDERAL REGULATIONS, AS DETERMINED BY THE DEPT. OF ED., THE FINANCIAL AID OFFICE AWARDS THE STUDENT THE APPROPRIATE FUNDING. STUDENT FILES REGARDING ELIGIBILITY ARE MAINTAINED BY THE STUDENT FINANCIAL AID OFFICE. X X X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 DR KENT C TRACHTE PRESIDENT 314457 0 37627 0 0 0 95650 0 36571 0 484305 0 0 0 CHARLES W EDMONDS EXECUTIVE VP COLLEGE ADVAN 185548 0 21944 0 0 0 17496 0 13010 0 237998 0 0 0 DR PHILIP W SPRUNGER PROVOST 185613 0 1881 0 0 0 16929 0 7450 0 211873 0 0 0 JEFFREY L BENNETT CPA VP FINANCE & ADMIN CFO/TRE 178589 0 1830 0 0 0 16274 0 891 0 197584 0 0 0 MICHAEL J KONOPSKI VP ENROLLMENT MANAGEMENT 150301 0 1610 0 0 0 14201 0 10274 0 176386 0 0 0 ROBERT L DUNKLEBERGER CHIEF INFORMATION OFFICER 124898 0 1329 0 0 0 11960 0 12853 0 151040 0 0 0 DANIEL P MILLER VP STUDENT LIFE 130136 0 1303 0 0 0 11727 0 7303 0 150469 0 0 0 PART I, LINE 1A THE PRESIDENT'S COMPENSATION PACKAGE SPECIFICALLY STATES THAT TRAVEL EXPENSES FOR HIS SPOUSE DURING BUSINESS TRAVEL WILL BE PAID BY THE COLLEGE. THE PRESIDENT LIVES IN A COLLEGE OWNED HOUSE, WHICH IS IN CLOSE PROXIMITY TO THE CAMPUS. THE COLLEGE PAYS FOR COUNTRY CLUB DUES FOR THE PRESIDENT AND FEW OTHER KEY STAFF MEMBERS. THE PRESIDENT'S HOME IS CLEANED AND MAINTAINED BY THE COLLEGE'S CUSTODIAL STAFF. NONE OF THESE BENEFITS ARE CONSIDERED TAXABLE INCOME FOR THESE OFFICERS AS THESE BENEFITS ARE FOR BUSINESS PURPOSES. PART I, LINE 4B THE PRESIDENT, DR. KENT C. TRACHTE'S 457(F) CONTRIBUTIONS FOR THE YEAR WERE $44,000 AND 457(B) CONTRIBUTIONS FOR THE YEAR WERE $26,000. A LYCOMING COUNTY AUTHORITY 236760375 550809AHO 2013-08-29 29986420 SEE PART VI 0 0 0 B LYCOMING COUNTY AUTHORITY 236760375 550809AZO 2019-04-26 6405362 SEE PART VI 0 0 0 A 29986420 362822 30926 21036502 8556170 2016 1 0 1 1 B 865000 6405362 128107 6277255 2019 1 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 1 0 0 0 1 B 0 0 0 1 1 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: LYCOMING COUNTY AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 09/20/2021 ISSUER NAME: LYCOMING COUNTY AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 12/03/2019 SCHEDULE K, PART IV, ARBITRAGE, LINE 2C (A) ISSUER NAME: LYCOMING COUNTY AUTHORITY (B) DATE THE REBATE COMPUTATION WAS PERFORMED: SEPTEMBER 20, 2021 (A) ISSUER NAME: LYCOMING COUNTY AUTHORITY (B) DATE THE REBATE COMPUTATION WAS PERFORMED: DECEMBER 3, 2019 SCHEDULE K, PART I, BOND ISSUES: BOND ISSUE A: (A) ISSUER NAME: LYCOMING COUNTY AUTHORITY (B) DESCRIPTION OF PURPOSE: REFUND SERIES OF 2003; RENOVATIONS AND MISC. CONSTRUCTION PROJECTS BOND ISSUE B: (A) ISSUER NAME: LYCOMING COUNTY AUTHORITY (B) DESCRIPTION OF PURPOSE: REFUND SERIES OF 1998; REFUND SERIES OF 2004; PAYMENT OF BOND ISSUANCE COSTS SCHEDULE K, PART III, LINE 3A: THERE ARE NO MANAGEMENT OR SERVICE CONTRACTS OR RESEARCH AGREEMENTS RELATING TO THE FINANCED PROPERTIES FOR THE 2013 OR 2019 BONDS. SHARON TRACHTE WIFE OF PRESIDENT 25000 SEE PART V 0 SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: SHARON TRACHTE(D) DESCRIPTION OF TRANSACTION: SHARON TRACHTE IS THE WIFE OF PRESIDENTKENT TRACHTE. SHARON WORKS FOR THE COLLEGE IN AN ADMINISTRATIVE ROLE. X 15 698012 MEAN OF STOCK PRICE X MUSICAL INSTRUMENTS 2 11800 COST X HOUSEHOLD GOODS 2 11340 COST 0 1 1 PART I, COLUMN (B): THE NUMBER IN COLUMN B REPRESENTS THE TOTAL NUMBER OF DONORS. PART I, LINE 32B: THE COLLEGE UTILIZES THIRD PARTIES TO PROCESS DONATIONS OF NONCASH/INVESTMENT TYPE GIFTS. DONORS SEND THEIR RESPECTIVE NONCASH/INVESTMENT TYPE GIFTS DIRECTLY TO THE THIRD PARTY. THE DONOR WILL THEN NOTIFY THE DEVELOPMENT OFFICE OF THE COLLEGE THAT THE GIFT IS FORTHCOMING. THE DEVELOPMENT OFFICE WILL NOTIFY THE CONTROLLER OF THE COLLEGE, WHO WILL THEN CONTACT THE THIRD PARTY TO SELL THE NONCASH GIFT. AS THE COLLEGE IS NOT IN THE BUSINESS OF BUYING/SELLING INVESTMENTS, IT DOES NOT HOLD NONCASH GIFTS AND AUTHORIZES THE THIRD PARTIES TO SELL THEM IMMEDIATELY UPON RECEIPT. THE VALUE OF THE DONATION REPORTED/RECEIPTED TO THE DONOR IS DETERMINED BY TAKING THE AVERAGE OF THE HIGH AND LOW PRICE OF THE NONCASH GIFT ON THE DATE OF THE GIFT. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT PUBLIC DISCLOSURE COPY OF THE FORM 990 WAS PROVIDED TO MEMBERS OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES AND REVIEWED BY THE AUDIT COMMITTEE AT A MEETING WITH BAKER TILLY, THE INDEPENDENT AUDITORS OF THE COLLEGE. FOLLOWING THAT REVIEW, THE PUBLIC DISCLOSURE COPY OF FORM 990 WAS PROVIDED TO EACH TRUSTEE OF THE COLLEGE AND WAS RECOMMENDED FOR APPROVAL BY THE CHAIRMAN OF THE AUDIT COMMITTEE TO THE BOARD OF TRUSTEES AT ITS ANNUAL SPRING MEETING PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE AUDIT COMMITTEE OF THE BOARD PERIODICALLY REVIEWS THE COLLEGE'S CONFLICT OF INTEREST POLICY TO ENSURE THAT IT IS COMPREHENSIVE, CLEARLY DEFINES THE TERM "CONFLICT OF INTEREST", AND CONTAINS PROCEDURES FOR ADEQUATELY RESOLVING AND DOCUMENTING POTENTIAL CONFLICTS. THE POLICY REQUIRES ANNUAL SIGNOFF BY THE BOARD OF TRUSTEES, THE PRESIDENT, AND MEMBERS OF THE PRESIDENT'S ADMINISTRATIVE CABINET. BEFORE THE BOARD OR A COMMITTEE OF THE BOARD CONSIDERS A PROPOSED TRANSACTION/ARRANGEMENT, ANY INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND DISCLOSE ALL MATERIAL FACTS TO THE BOARD OR COMMITTEE. THE INTERESTED PERSON WILL THEN LEAVE THE MEETING WHILE THE BOARD OR COMMITTEE DETERMINE AND VOTE UPON THE CONFLICT OF INTEREST. THE BOARD OR COMMITTEE MAY, IF APPROPRIATE, CONSIDER ALTERNATIVES TO THE PROPOSED TRANSACTION/ARRANGEMENT. THE INTERESTED PERSON WOULD ABSTAIN FROM VOTING ON THE MATTER. ALL DETERMINATIONS AND VOTES ARE DOCUMENTED IN THE MINUTES OF THE BOARD OF TRUSTEES OR COMMITTEE MEETINGS. IF ANYONE FAILS TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, THE BOARD WILL DETERMINE THE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION UP TO REMOVAL FROM THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES SETS THE PARAMETERS FOR THE OVERALL SALARY POOL FOR COLLEGE EMPLOYEES AT THEIR FEBRUARY MEETING AS PART OF THE ANNUAL BUDGET CYCLE. THE PERSONNEL COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS AND SETS THE SALARY AND BENEFITS FOR THE PRESIDENT AT THEIR APRIL MEETING EACH YEAR. THE PERSONNEL COMMITTEE ALSO REVIEWS AND SETS THE SALARIES FOR THE SENIOR OFFICERS OF THE COLLEGE (PROVOST AND DEAN OF THE COLLEGE, VICE PRESIDENT FOR FINANCE AND ADMINISTRATION, VICE PRESIDENT FOR ENROLLMENT MANAGEMENT, VICE PRESIDENT FOR STUDENT LIFE AND VICE PRESIDENT FOR COLLEGE ADVANCEMENT). THE PERSONNEL COMMITTEE IS PROVIDED WITH COMPARATIVE DATA FOR THE PRESIDENT AND SENIOR OFFICERS RELATIVE TO SIMILAR INSTITUTIONS IN MISSION, ENROLLMENT SIZE, FINANCES, ETC. THE PERSONNEL COMMITTEE ALSO RECEIVES A REPORT OF HOW FACULTY SALARIES AND COMPENSATION COMPARE AT LYCOMING COLLEGE RELATIVE TO SIMILAR INSTITUTIONS. THIS REVIEW AND APPROVAL PROCESS IS DOCUMENTED VIA MINUTES OF THE PERSONNEL COMMITTEE MEETINGS. THE PRESIDENT APPROVES THE SALARY FOR ALL OTHER EMPLOYEES WITHIN THE PARAMETERS SET BY THE BOARD, THE COLLEGE'S SALARY GRADES FOR EACH POSITION AND VARIOUS COMPENSATION SURVEYS. THE PRESIDENT RECEIVES COMPARATIVE DATA FOR ALL MID-LEVEL AND ADMINISTRATIVE EMPLOYEES FROM THE SAME COMPARISON GROUP THAT IS USED BY THE PERSONNEL COMMITTEE. THE DIRECTOR OF HUMAN RESOURCES PROVIDES COMPARATIVE DATA FOR ALL POSITIONS TO THE PRESIDENT. CONTINUING FACULTY AND STAFF SALARIES ARE APPROVED BY THE PRESIDENT UPON THE RECOMMENDATION OF THE CORRESPONDING SENIOR OFFICER AND BASED ON THE COLLEGE'S EVALUATION AND PERSONNEL POLICIES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 787,934. CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS 95,494.