2019-05-14T08:19:02-05:00 2018-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 1650 MARKET STREET SUITE 4500 PHILADELPHIA PA 191037341 990 2017-07-01 240795965 LYCOMING COLLEGE LYCO 5703214000 700 COLLEGE PLACE WILLIAMSPORT PA 17701 JEFFREY L BENNETT CPA VP FINANCE & ADMIN CFO/TREASURER 5703214000 2019-05-13 1 JULIUS C GREEN CPA P00350393 2159720701 96.89.178.154 2019-05-13 09:33:18 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 D55C9BF7EA9CC92FF5CD8A3B56631CEAE08BA54E 2017 2019-02-21 02:37:17Z JEFFREY L BENNETT CPA 700 COLLEGE PLACE WILLIAMSPORT PA 17701 89739074 0 X WWW.LYCOMING.EDU X 1947 PA TO PROVIDE A DISTINGUISHED BACCALAUREATE EDUCATION IN THE LIBERAL ARTS AND SCIENCES. 32 31 1216 79 437649 -168689 6827981 10314207 58430616 57054695 12972858 6305470 867015 845172 79098470 74519544 30822081 30945011 0 0 23992817 23662447 0 0 1434366 20195171 20131651 75010069 74739109 4088401 -219565 282862528 289299873 54233166 53259993 228629362 236039880 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 61901658 30945011 57169596 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 70% 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 2017-2018 ACADEMIC YEAR WAS APPROXIMATELY 1,137 FULL-TIME EQUIVALENTS. 61901658 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 1 221 0 1 1216 1 1 1 1 CJ 0 0 0 0 0 0 0 0 X 32 31 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 700 COLLEGE PLACE WILLIAMSPORT PA 17701 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 LINDA PORR SWEENEY ASSISTANT SECRETARY 1.00 X X 0 0 0 DR KENT C TRACHTE PRESIDENT 40.00 X X 294688 0 117362 DR BRENDA P ALSTON-MILLS TRUSTEE 1.00 X 0 0 0 JOHN R BIGGAR TRUSTEE 1.00 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 DANIEL R HAWBAKER TRUSTEE 1.00 X 0 0 0 COLLEEN M HEISEY TRUSTEE 1.00 X 0 0 0 LEIGH T HOWE TRUSTEE 1.00 X 0 0 0 DR JAMES M JEFFRIES III MD FACS TRUSTEE 1.00 X 0 0 0 LAWRENCE S ALLISON JR TRUSTEE 1.00 X 0 0 0 DALE N KRAPF 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 J MICHAEL SCHWEDER 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 DR PHILIP W SPRUNGER PROVOST 40.00 X 180033 0 17093 CHARLES W EDMONDS EXECUTIVE VP COLLEGE ADVANCEMENT 40.00 X 178616 0 28648 JEFFREY L BENNETT CPA VP FINANCE & ADMIN CFO/TREASURER 40.00 X 171360 0 16255 MICHAEL J KONOPSKI VP ENROLLMENT MANAGEMENT 40.00 X 139609 0 25120 DANIEL P MILLER VP STUDENT LIFE 40.00 X 122530 0 17870 ROBERT L DUNKLEBERGER CHIEF INFORMATION OFFICER 40.00 X 119511 0 23093 MICHAEL CLARK ATHLETIC DIR/HEAD FOOTBALL COACH 40.00 X 119213 0 23163 JACQUELINE R BILGER DIRECTOR HUMAN RESOURCES 40.00 X 115417 0 19667 MEHRDAD MADRESEHEE FACULTY/CHAIR OF ECONOMICS 40.00 X 110557 0 9799 CHRISS MCDONALD PROFESSOR 40.00 X 100810 0 15659 SUSAN ROSS PROFESSOR 40.00 X 100451 0 10346 1752795 0 324075 13 0 1 0 PARKHURST DINING SERVICES 285 WATERFORD DRIVE NEW HOMESTEAD PA 15120 CONTRACTED FOOD SVCS 4010127 EAB 1920 E PARKHAM ROAD RICHMOND VA 23228 STUDENT MARKETING SVCS 305137 EBSCO SUBSCRIPTION SERVICE PO BOX 204661 DALLAS TX 753204661 LIBRARY SUBSCRIPTION SVCS 290035 BAXTER HODELL DONNELLY PRESTON INC 302 3RD STREET CINCINNATI OH 45202 ARCHITECT SERVICES 278295 RUFFALO NOEL LEVITZ PO BOX 718 DES MOINES IA 503030718 ENROLLMENT MGMT SVCS 214157 13 10000 545557 9758650 1352532 10314207 TUITION & FEES 611710 44145188 44145188 AUXILIARY ENTERPRISES 611710 12909507 12909507 57054695 2244802 2244802 45048 63498 -18450 -18450 -18450 19058506 14907142 90696 4151364 -90696 4060668 4060668 258576 158194 100382 100382 SUMMER CONFERENCE REV 611710 411238 411238 PARKING REVENUE 900099 122142 122142 FACILITY USE REV 721000 26411 26411 203449 14519 188930 763240 74519544 57169596 437649 6598092 30945011 30945011 1330583 340001 990582 15951562 12869821 2183675 898066 1066351 852882 139330 74139 4206525 3173781 893865 138879 1107426 883871 162487 61068 34992 34992 98180 98180 754897 684233 70664 4522298 3828988 658659 34651 979897 863519 87334 29044 4084035 3674079 313729 96227 1748184 544951 1203233 843415 706884 63440 73091 1513760 1490179 23581 4127513 735823 3391690 697846 96500 601346 SPECIAL EVENTS 244659 12822 216282 15555 MEMBERSHIPS 167871 45280 116329 6262 DEBT SVC TRUSTEE FEES 43236 43236 BAD DEBTS 42296 42296 228572 153033 68155 7384 74739109 61901658 11403085 1434366 639754 1032149 1009648 1628091 3938322 7309839 25214 76462 1332785 1261988 131111247 71125748 60656571 59985499 199239402 204904338 5942953 5365104 10077879 7736403 282862528 289299873 998724 1965774 43295000 42625000 745000 690000 9194442 7979219 54233166 53259993 X 172159820 175661594 14977020 13835931 41492522 46542355 228629362 236039880 282862528 289299873 X -219565 7137638 492445 X 0 1 X 1 1 1 X 5342482 6380398 6459045 6827981 10314207 35324113 5342482 6380398 6459045 6827981 10314207 35324113 1617414 33706699 3557094 4659427 6534287 9625929 2289850 26666587 2064099 1496922 1331842 1254170 1021816 7168849 69159549 283468388 0.48740 0.43440 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SALES OF INVENTORY - 2013 AMOUNT: $ 683,727. 2014 AMOUNT: $ 725,540. 2015 AMOUNT: $ 645,604. 2016 AMOUNT: $ 508,945. 2017 AMOUNT: $ 258,576. SUMMER CONFERENCE - 2013 AMOUNT: $ 364,642. 2014 AMOUNT: $ 478,455. 2015 AMOUNT: $ 498,750. 2016 AMOUNT: $ 472,989. 2017 AMOUNT: $ 411,238. FACILITY RENTAL - 2013 AMOUNT: $ 28,833. 2014 AMOUNT: $ 41,763. 2015 AMOUNT: $ 49,263. 2016 AMOUNT: $ 28,254. 2017 AMOUNT: $ 26,411. INSURANCE PROCEEDS - 2013 AMOUNT: $ 820,249. INSURANCE PREMIUM REBATE - 2014 AMOUNT: $ 89,226. OTHER - 2013 AMOUNT: $ 79,068. 2014 AMOUNT: $ 69,133. 2015 AMOUNT: $ 46,750. 2016 AMOUNT: $ 152,377. 2017 AMOUNT: $ 203,449. PARKING REVENUE - 2013 AMOUNT: $ 87,580. 2014 AMOUNT: $ 92,805. 2015 AMOUNT: $ 91,475. 2016 AMOUNT: $ 91,605. 2017 AMOUNT: $ 122,142. X X X X 0 200823000 2940000 13104000 6747000 2520000 207600000 183383000 2258000 24541000 6983000 2376000 200823000 194189000 1669000 -2847000 7359000 2269000 183383000 198093000 1423000 -755000 3076000 1496000 194189000 167608000 5645000 26393000 435000 1118000 198093000 0.78000 0.22000 0.00000 0 0 979681 7900504 8880185 411379 90414430 44292604 46533205 7301947 7055923 246024 17053504 13313051 3740453 7049802 6464170 585632 59985499 OTHER LIABILITIES 2444264 SPLIT-INTEREST AGREEMENTS 4602102 ADVANCE FROM FEDERAL GOVERNMENT FOR STUDENT LOANS 1032537 UNAMORTIZED BOND PREMIUM 142450 UNAMORTIZED BOND DISCOUNT -242134 7979219 X 51362810 7137638 -30452566 -23314928 74677738 -158194 -158194 74519544 43952292 158194 158194 43794098 30945011 30945011 74739109 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 2018 AND 2017. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 489,662. CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS 2,783. GRANTS & SCHOLARSHIPS -30,945,011. PART XI, LINE 4B - OTHER ADJUSTMENTS: CAMPUS STORE EXPENSES -158,194. PART XII, LINE 2D - OTHER ADJUSTMENTS: CAMPUS STORE EXPENSES 158,194. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS & SCHOLARSHIPS 30,945,011. 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 1187 30797663 0 N/A N/A SEOG GRANTS 155 147348 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 294688 0 0 0 0 0 105750 0 11612 0 412050 0 0 0 DR PHILIP W SPRUNGER PROVOST 180033 0 0 0 0 0 16191 0 902 0 197126 0 0 0 CHARLES W EDMONDS EXECUTIVE VP COLLEGE ADVANCEMENT 178616 0 0 0 0 0 16733 0 11915 0 207264 0 0 0 JEFFREY L BENNETT CPA VP FINANCE & ADMIN CFO/TREASURER 171360 0 0 0 0 0 15377 0 878 0 187615 0 0 0 MICHAEL J KONOPSKI VP ENROLLMENT MANAGEMENT 139609 0 0 0 0 0 13305 0 11815 0 164729 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 $57,750 AND 457(B) CONTRIBUTIONS FOR THE YEAR WERE $24,000. A PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 232243852 70917NN91 2004-12-22 8567167 SEE PART VI 0 0 0 B LYCOMING COUNTY AUTHORITY 236760375 550809AHO 2013-08-29 29986420 SEE PART VI 0 0 0 A 3650000 9109137 630098 2236090 234485 5989028 2007 0 1 1 1 B 29986420 362822 30926 21036502 8556170 2016 1 0 1 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 0 0 0 0 1 B 0 0 0 1 1 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 11/01/2018 ISSUER NAME: LYCOMING COUNTY AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 07/10/2018 SCHEDULE K, PART I, BOND ISSUES: BOND ISSUE A: (A) ISSUER NAME: PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY (B) DESCRIPTION OF PURPOSE: REFUND SERIES OF 1998 BONDS; CONSTRUCTION AND FURNISHING OF STUDENT HOUSING. BOND ISSUE B: (A) ISSUER NAME: LYCOMING COUNTY AUTHORITY (B) DESCRIPTION OF PURPOSE: REFUND SERIES OF 2003; RENOVATIONS AND MISC. CONSTRUCTION PROJECTS SCHEDULE K, PART II, LINE 3: TOTAL PROCEEDS OF ISSUE REPORTED ON LINE 3 EXCEEDS THE ISSUE PRICE REPORTED IN PART I DUE TO INVESTMENT EARNINGS OF $541,970 (BOND ISSUE A). SCHEDULE K, PART III, LINE 3A: THERE ARE NO MANAGEMENT OR SERVICE CONTRACTS OR RESEARCH AGREEMENTS RELATING TO THE FINANCED PROPERTIES FOR THE 2004 OR 2013 BONDS. SHARON TRACHTE WIFE OF PRESIDENT 25000 SHARON TRACHTE IS THE WIFE OF PRESIDENT KENT TRACHTE. SHARON WORKS FOR THE COLLEGE IN AN ADMINISTRATIVE ROLE. 0 X 26 1349374 MEAN OF STOCK PRICE X ENTERTAINMENT 2 3158 COST 0 0 1 1 PART I, COLUMN (B): THE NUMBER IN COLUMN (B) REPRESENTS THE TOTAL NUMBER OF CONTRIBUTORS. 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 489,662. CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS 2,783.