2019-05-15T09:35:03-05:00 2018-06-30 540504608 BROWN EDWARDS & COMPANY LLP 1715 PRATT DRIVE SUITE 2700 BLACKSBURG VA 24060 990 2017-07-01 540505940 RANDOLPH-MACON COLLEGE RAND 8047988372 POST OFFICE BOX 5005 ASHLAND VA 230055505 ROBERT R LINDGREN PRESIDENT 8047988372 2019-05-14 1 MARK WOOLWINE P00647446 5404433606 2019-05-14 206.248.228.130 2019-05-14 13:55:23 ED P D0156BD46B4B1FE921C9503B1D7FFBF99E37DBAB D2AAF2CD548628E9B061370D83896158B605C5C0 2017 2019-02-21 02:37:17Z ROBERT R LINDGREN POST OFFICE BOX 5005 ASHLAND VA 230055505 157953165 0 X WWW.RMC.EDU X 1830 VA A RANDOLPH-MACON COLLEGE LIBERAL ARTS EDUCATION DEVELOPS THE MIND AND CHARACTER OF EACH STUDENT. 42 41 1201 200 554369 0 9494235 55251727 67143075 69063443 5413892 31108781 1212628 1504047 83263830 156927998 29134757 30714419 0 0 29319693 30669493 12280 0 2318246 21034985 22220555 79501715 83604467 3762115 73323531 281425644 335454835 62187086 58627756 219238558 276827079 A RANDOLPH-MACON COLLEGE LIBERAL ARTS EDUCATION DEVELOPS THE MIND AND CHARACTER OF EACH STUDENT. 0 0 75465953 30714419 69917201 RANDOLPH-MACON COLLEGE IS AN INSTITUTION OF HIGHER EDUCATION PROVIDING A FOUR YEAR LIBERAL ARTS CURRICULUM TO APPROXIMATELY 1,425 STUDENTS. 75465953 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 1 0 0 1 1 0 0 1 0 0 0 0 1 143 0 1 1201 1 1 1 0 0 0 0 0 0 0 X 42 41 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X PAUL T DAVIES VP OF ADMIN FIN 8047527241 310 N CENTER ST ASHLAND VA 23005 YVONNE W BRANDON EDD TRUSTEE 1.00 X 0 0 0 L PRESTON BRYANT JR THE HON TRUSTEE 1.00 X 0 0 0 WILLIAM A DAVIS JR REV TRUSTEE 1.00 X 0 0 0 SANJAY TANDON TRUSTEE 1.00 X 0 0 0 ROBIN ANNE FLOYD TRUSTEE 1.00 X 0 0 0 CYNTHIA H LEE TRUSTEE 1.00 X 0 0 0 TIMOTHY P O'BRIEN TRUSTEE 1.00 X 0 0 0 SUSAN D SCHICK TRUSTEE 1.00 X 0 0 0 FRANK E LAUGHON JR TRUSTEE 1.00 X 0 0 0 FRANK J MURPHY III TRUSTEE 1.00 X 0 0 0 ALLISON M O'BRIEN TRUSTEE 1.00 X 0 0 0 MARK V OGREN REV TRUSTEE 1.00 X 0 0 0 ALAN B RASHKIND ESQ CHAIRMAN 2.00 X X 0 0 0 DIANNE L REYNOLDS-CANE MD TRUSTEE 1.00 X 0 0 0 BENJAMIN S SCHAPIRO TRUSTEE 1.00 X 0 0 0 LEE B SPENCER JR ESQ SECRETARY 1.00 X X 0 0 0 SAMUEL E VICHNESS PHD TRUSTEE 1.00 X 0 0 0 R DOUGLAS WHITE TRUSTEE 1.00 X 0 0 0 CHARLES W WORNOM TRUSTEE 1.00 X 0 0 0 DAVID E YAWARS TRUSTEE 1.00 X 0 0 0 JAN M CARTER MD VICE CHAIR 1.00 X X 0 0 0 J PETER CLEMENTS TRUSTEE 1.00 X 0 0 0 DAVID G MELESKI TRUSTEE 1.00 X 0 0 0 WESLEY A NICHOLS TRUSTEE 1.00 X 0 0 0 HAROLD E STARKE JR ESQ TRUSTEE 1.00 X 0 0 0 MALINDA E DUNN TRUSTEE 1.00 X 0 0 0 F GILLIS GREEN TRUSTEE 1.00 X 0 0 0 R EARL JOHNSON TRUSTEE 1.00 X 0 0 0 LINWOOD A STAUB TRUSTEE 1.00 X 0 0 0 CHARLES W STEGER PHD TRUSTEE 1.00 X 0 0 0 ANNE CABELL BIRDSONG PEARCE TRUSTEE 1.00 X 0 0 0 SUSAN P QUINN TRUSTEE 1.00 X 0 0 0 MARY LYNN REED ESQ TRUSTEE 1.00 X 0 0 0 GILBERT BLAND TRUSTEE 1.00 X 0 0 0 ROLAND B BONEY TRUSTEE 1.00 X 0 0 0 TC MELTON III TRUSTEE 1.00 X 0 0 0 R GEOFFREY NEVILLE JR TRUSTEE 1.00 X 0 0 0 JOHN B PETERS REV TRUSTEE 1.00 X 28000 0 0 D CALLOWAY WHITEHEAD III TRUSTEE 1.00 X 0 0 0 SABRA L KLEIN PHD TRUSTEE 1.00 X 0 0 0 THOMAS HUNTER LEEMON TRUSTEE 1.00 X 0 0 0 THOMAS L MILLNER TRUSTEE 1.00 X 0 0 0 ROBERT R LINDGREN ESQ PRESIDENT 40.00 X 286161 0 146310 PAUL T DAVIES VP ADMIN & FINANCE, TREASU 40.00 X 165687 0 43831 JENNIFER THOMPSON ESQ EXE ASST TO PRESIDENT & AS 40.00 X 105978 0 32118 DIANE M LOWDER ESQ VP ADVANCEMENT 40.00 X 247986 0 51024 DAVID L LESESNE EDD VP ENROLLMENT 40.00 X 163508 0 63273 WILLIAM T FRANZ PHD PROVOST 40.00 X 171033 0 34914 M THOMAS INGE PHD FACULTY 40.00 X 146783 0 29893 GRANT AZDELL PHD VP STUDENT AFFAIRS 40.00 X 116757 0 40762 LAUREN C BELL PHD DEAN OF ACADEMIC AFFAIRS 40.00 X 117011 0 18918 KIRK R BAUMBACH STAFF 40.00 X 114508 0 31661 ALPHINE W JEFFERSON FACULTY 40.00 X 112580 0 17621 1775992 0 510325 18 0 1 0 KJELLSTROM AND LEE INC 1607 OWNBY LN RICHMOND VA 23220 CONSTRUCTION SERVICES 7095730 CHARTWELLS PO BOX 91337 CHICAGO IL 60693 FOOD SERVICES 4058335 RIDDLEBERGER BROTHERS INC PO BOX 27 MT CRAWFORD VA 22841 HVAC SERVICES 1400090 NYCOM INC 14200 MICHAUX GLEN DR MIDLOTHIAN VA 23113 SCIENTIFIC EQUIP SERVICES 776098 DELL MARKETING LP PO BOX 643561 PITTSBURGH PA 15264 COMPUTER SERVICES 349316 23 816455 54435272 17737533 55251727 TUITION AND FEES 611310 56100293 56100293 AUXILIARY SERVICES 611310 12963150 12963150 69063443 2933047 1429 2931618 99329 0 99329 99329 99329 28173754 1980 0 0 28173754 1980 28175734 1980 28173754 996570 1025167 -28597 -8572 -20025 MISCELLANEOUS PROGRAMS 900099 860350 860350 SUMMER PROGRAM 900099 325186 325186 LANGUAGE ACADEMY 900099 168473 168473 79306 79306 1433315 156927998 69917201 554369 31204701 30714419 30714419 1457933 703072 402039 352822 21596425 19131835 1321915 1142675 1534163 1239476 205180 89507 4517922 3839645 508735 169542 1563050 1247272 220406 95372 2440 2440 953614 953614 507776 226729 281047 1122161 1072603 3774 45784 1740456 1258841 272898 208717 1043215 896497 117318 29400 3408828 3219526 172139 17163 338568 258317 27126 53125 921515 776741 63331 81443 1106050 1053418 52632 4262447 3873681 349090 39676 571275 571275 STUDENT FOOD SERVICE 3868677 3868677 INTERCOLLEGIATE ATHLETI 1592311 1592311 OTHER SUPPLIES, SERVICE 603541 282015 312790 8736 LIBRARY AND LIBRARY SER 467103 467103 -289422 -256225 -17481 -15716 83604467 75465953 5820268 2318246 7637055 31931228 3507095 7747182 3943586 20294408 1915194 1924430 5034312 5307769 371928 339659 168408411 61434602 104840135 106973809 104768814 107896578 47254392 50926335 2153133 2113437 281425644 335454835 4446990 3802129 2395283 2205454 34210870 32641237 1228058 1172608 3361770 3061804 16544115 15744524 62187086 58627756 X 70873219 75466682 91858163 136109503 56507176 65250894 219238558 276827079 281425644 335454835 X 73323531 -16275936 540926 X X 0 1 X 1 1 1 X 9973189 13612857 10361599 9494235 13765971 57207851 9973189 13612857 10361599 9494235 13765971 57207851 11507243 45700608 2327552 2446414 2488706 2225646 3030947 12519265 97142 89037 17535 203714 14587153 3250844 2364282 3285007 28173754 51661040 121591870 0.37590 0.46670 X 0 0 0 0 0 0 0 0 1 2440 2440 0 PART II-B, LINE 1: THE COLLEGE IS A MEMBER OF THE COUNCIL OF INDEPENDENT COLLEGES IN VIRGINIA (CICV), AN ASSOCIATION OF 28 INDEPENDENT COLLEGES AND UNIVERSITIES. CICV WORKS TO PROMOTE THE INTERESTS OF NON-PROFIT, INDEPENDENT HIGHER EDUCATION IN VIRGINA. CICV WORKED TO INITIATE AND CONTINUES TO PROMOTE THE STATE'S NON-NEED BASED TUTITION ASSISTANCE PROGRAM FOR VIRGINIA STUDENTS ATTENDING A PRIVATE INSTITUTION. ADDITIONALLY, CICV MONITORS LEGISLATIVE AND REGULATORY ACTIONS WHICH AFFECT THE MEMBERSHIP BY A PRESENCE DURING THE GENERAL ASSEMBLY SESSIONS TO REVIEW PROPOSED LEGISLATION AND INTERACT WITH VARIOUS ADMINISTRATIVE AGENCIES. CICV IS ENGAGED IN PROMOTING THE AWARENESS OF VIRGINIA'S INDEPENDENT COLLEGES TO POTENTIAL STUDENTS THROUGH PUBLICATIONS AND BY SPONSORING VA PRIVATE COLLEGE WEEK. CICV ALSO PROVIDES ANALYZED DATA TO MEMBER INSTITUTIONS AND APPROPRIATE STATE AGENCIES TO PROMOTE VENTURES WHERE EFFICIENCIES CAN BE ACHIEVED BY THE PARTICIPATION OF A GROUP OF INSTITUTIONS. THE COLLEGE PAYS A MEMBERSHIP FEE BASED UPON STUDENT POPULATION. FOR THE YEAR ENDED JUNE 30, 2018, CICV EXPENDED APPROXIMATELY 10.82% OF THE MEMBERSHIP FEE FOR LOBBYING ACTIVITIES. THE COLLEGE IS A MEMBER OF THE NATIONAL ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES (NAICU). NAICU SERVES AS THE UNIFIED NATIONAL VOICE OF INDEPENDENT HIGHER EDUCATION. SINCE 1976, THE ASSOCIATION HAS REPRESENTED PRIVATE COLLEGES AND UNIVERSITIES ON POLICY ISSUES WITH THE FEDERAL GOVERNMENT, SUCH AS THOSE AFFECTING STUDENT AID, TAXATION, AND GOVERNMENT REGULATION. THE NAICU STAFF MEETS WITH POLICYMAKERS, TRACKS CAMPUS TRENDS, CONDUCTS RESEARCH, ANALYZES HIGHER EDUCATION ISSUES, PUBLISHES INFORMATION, HELPS COORDINATE STATE-LEVEL ACTIVITIES, AND ADVISES MEMBERS OF LEGISLATIVE AND REGULATORY DEVELOPMENTS WITH POTENTIAL IMPACT ON THEIR INSTITUTIONS. NAICU SPEARHEADED INITIATIVES INCLUDE THE STUDENT AID ALLIANCE, AN EFFORT TO ENHANCE FUNDING FOR EXISTING STUDENT AID PROGRAMS, AND THE NONPARTISAN NATIONAL CAMPUS VOTER REGISTRATION PROJECT. NAICU'S 1,000 MEMBERS NATIONWIDE REFLECT THE DIVERSITY OF PRIVATE, NONPROFIT HIGHER EDUCATION IN THE UNITED STATES. MEMBERS INCLUDE TRADITIONAL LIBERAL ARTS COLLEGES, MAJOR RESEARCH UNIVERSITIES, CHURCH- AND FAITH-RELATED INSTITUTIONS, HISTORICALLY BLACK COLLEGES AND UNIVERSITIES, WOMEN'S COLLEGES, PERFORMING AND VISUAL ARTS INSTITUTIONS, TWO-YEAR COLLEGES, AND SCHOOLS OF LAW, MEDICINE, ENGINEERING, BUSINESS, AND OTHER PROFESSIONS. NAICU IS COMMITTED TO CELEBRATING AND PROTECTING THIS DIVERSITY OF THE NATION'S PRIVATE COLLEGES AND UNIVERSITIES. FOR THE YEAR ENDED JUNE 30, 2018, NAICU EXPENDED APPROXIMATELY 7% OF THE MEMBERSHIP FEE FOR LOBBYING ACTIVITIES. 1525969 X X X 0 149767753 8604231 13521821 1772020 5898756 290469 163932560 141237185 1433008 14841356 1720650 5955266 67880 149767753 152321854 1744820 -5362353 1733427 5652695 81014 141237185 149933815 2225737 7359787 1603511 5364300 229674 152321854 129759886 2842287 24073626 1402435 5721485 -381936 149933815 0.40280 0.37270 0.22450 1 0 5572692 5572692 138768262 44427223 94341039 308834 91363 217471 21211017 16916016 4295001 2547606 2547606 106973809 CASH AND TEMPORARY INVESTMENTS 189991 F MARKETABLE ALTERNATIVE ASSETS 29410165 F NONMARKETABLE ALTERNATIVE ASSETS 13084427 F REAL ESTATE/MORTGAGES AND OTHER 8241752 F 50926335 ANNUITIES PAYABLE 1350512 POST RETIREMENT BENEFIT LIABILITY 11596697 REFUNDABLE LOAN PROGRAMS 2669643 INTEREST RATE SWAP AGREEMENT LIABILITY 127672 15744524 X 110811393 -16275936 1827364 -14448572 125259965 953614 30714419 31668033 156927998 53222872 1025167 1025167 52197705 953614 30453148 31406762 83604467 PART III, LINE 4: RANDOLPH-MACON COLLEGE MAINTAINS A COLLECTION OF ORIGINAL ART WHICH SERVES AS A PRIMARY SOURCE FOR RESEARCH, EDUCATION AND EDIFICATION. BUILT AROUND A DONATION OF ORIENTAL ART FROM THE ESTATE OF SENATOR HUGH SCOTT, AN ALUMNUS OF THE COLLEGE, THE PRESENT COLLECTION HAS BEEN FORMED MOSTLY FROM DONATIONS TO FURTHER THE PERMANENT HOLDINGS IN ART FOR THE BENEFIT OF FACULTY AND STUDENTS. NO ASPECT OR ITEM FROM THE PERMANENT COLLECTION IS OFFERED FOR SALE OR PURCHASE; THE COLLECTION REMAINS INTACT FOR ACADEMIC STUDY. PART X, LINE 2: THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVEUNE CODE. THE FEDERAL FORM 990 OF THE COLLEGE ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: BOOK STORE COST OF GOODS SOLD NETTED AGAINST INCOME 1,025,167. CHANGE IN VALUE OF INTEREST RATE SWAP 540,926. CHANGE IN POSTRETIREMENT BENEFIT OBLIGATION 289,422. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT -28,151. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND FINANCIAL AID PAID 30,714,419. PART XII, LINE 2D - OTHER ADJUSTMENTS: BOOK STORE COST OF GOODS SOLD NETTED AGAINST INCOME 1,025,167. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND FINANCIAL AID PAID 30,714,419. CHANGE IN POSTRETIREMENT BENEFIT OBLIGATION -289,422. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 28,151. 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 COLLEGE'S NON-DISCRIMINATORY POLICY IS STATED IN THE COLLEGE CATALOG, ADMISSIONS BROCHURES AND IN RECRUITING MATERIALS. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FEDERAL FINANCIAL AID MOST OF WHICH IS PASSED THROUGH TO STUDENTS. 1 COLLEGE DESIGNATED (UNFUNDED) GRANTS AND SCHOLARSHIPS 1468 28203402 DONOR RESTRICTED (FUNDED) GRANTS AND SCHOLARSHIPS 325 2405317 FEDERAL SUPPLEMENTAL GRANTS 114 105700 PART I, LINE 2: ALL GRANTS REPORTED IN PART III OF SCHEDULE I ARE TO STUDENTS OF THE COLLEGE FOR FINANCIAL ASSISTANCE WITH THEIR COSTS OF ATTENDANCE. GRANTS ARE ELECTRONICALLY TRANSMITTED BY THE OFFICE OF FINANCIAL AID INTO THE ACCOUNTS RECEIVABLE SYSTEM OF THE BUSINESS OFFICE BASED UPON SYSTEM IDENTIFICATION NUMBERS FOR INDIVIDUALS. EACH STUDENT IS ABLE TO COMPARE THE AID POSTED AGAINST HIS BILLING STATEMENT FOR TUITION AND FEES TO THE AWARD LETTER HE RECEIVED FROM THE FINANCIAL AID OFFICE. ADDITIONALLY, DURING THE COLLEGE'S ANNUAL AUDIT, THIS PROCESS IS TESTED FOR ACCURACY NOT ONLY OF AMOUNTS AND ASSIGNMENT TO CORRECT INDIVIDUALS, BUT ALSO FOR ANY RESTRICTIONS OF GRANT FUNDING REGARDING AWARDEE ATTRIBUTES REQUIRED TO QUALIFY FOR ANY PARTICULAR AWARD. LINE THREE IN PART III REPORTS THE FEDERALLY FUNDED SUPPLEMENTAL GRANTS; THE COLLEGE ANNUALLY CONTRACTS FOR AN AUDIT IN ACCORDANCE WITH THE REQUIREMENTS OF THE UNIFORM GUIDANCE. X X 1 1 X X X X X X 0 1 0 0 0 0 0 0 0 ROBERT R LINDGREN ESQ PRESIDENT 281180 0 0 0 4981 0 93300 0 53010 0 432471 0 0 0 PAUL T DAVIES VP ADMIN & FINANCE, TREASU 164499 0 0 0 1188 0 16045 0 27786 0 209518 0 0 0 DIANE M LOWDER ESQ VP ADVANCEMENT 156138 0 85000 0 6848 0 32728 0 18296 0 299010 0 85000 0 DAVID L LESESNE EDD VP ENROLLMENT 163094 0 0 0 414 0 15438 0 47835 0 226781 0 0 0 WILLIAM T FRANZ PHD PROVOST 169845 0 0 0 1188 0 15756 0 19158 0 205947 0 0 0 M THOMAS INGE PHD FACULTY 145547 0 0 0 1236 0 13161 0 16732 0 176676 0 0 0 GRANT AZDELL PHD VP STUDENT AFFAIRS 116343 0 0 0 414 0 11825 0 28937 0 157519 0 0 0 PART I, LINE 4B THE COLLEGE CONTRIBUTED $19,000 TO A 457(B) PLAN FOR THE PRESIDENT. A INDUSTRIAL DEVELOPMENT AUTHORITY OF THE TOWN OF ASHLAND VIRGINIA 566001129 2004-12-15 4900000 RENOVATE DORMITORIES, REFURBISH GYM, UPGRADE HVAC IN GYM & ADDITIONAL DORMS 0 0 0 B ECONOMIC DEVELOPMENT AUTHORITY OF THE TOWN OF ASHLAND VIRGINIA 566001129 2013-02-01 10000000 REFINANCE SER. 1998 VCBA REVENUE BOND 0 0 0 C ECONOMIC DEVELOPMENT AUTHORITY OF THE TOWN OF ASHLAND VIRGINIA 566001129 2012-12-20 10000000 CONSTRUCT APARTMENT STYLE DORMITORY, ADDITIONAL FACILITIES AND CAPITAL IMPRO 0 0 0 D ECONOMIC DEVELOPMENT AUTHORITY OF THE TOWN OF ASHLAND VIRGINIA 566001129 2017-05-01 9575000 AREFINANCE 2011 EXONOMIC DEVELOPMENT AUTHORITY OF THE TOWN OF ASHLAND, VIRGI 0 0 0 A 4900000 118517 59895 5183020 2007 0 0 1 1 B 10000000 170000 9830000 2013 1 0 1 1 C 4555000 162004 4392997 2014 0 0 1 1 D 9575000 9575000 2011 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 1 1 SUNTRUST BANK 10.000000000000 0 0 0 0 0 C 0 0 0 0 1 1 BB&T COMPANY 8.300000000000 0 0 0 0 0 D 0 0 0 0 0 0 0 0 0 A 0 B 0 C 0 D 0 29970 TUITION REMISSION SUPPORT THE EDUCATION OF EMPLOYEES' DEPENDENTS REV JOHN B PETERS TRUSTEE 28000 PAYROLL: REV. PETERS SERVES AS THE PART TIME EXECUTIVE DIRECTOR OF THE ASSOCIATION OF EDUCATIONAL INSTITUTIONS (UNITED METHODIST CHURCH) OF WHICH THE COLLEGE IS A MEMBER AND MANAGER OF FINANCES FOR THAT POSITION. 0 X 1 5719 APPRAISAL X 40 17431814 AVE HIGH/LOW AT TRANSFER X 1 300000 APPRAISAL 0 1 0 FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: A RANDOLPH-MACON COLLEGE LIBERAL ARTS EDUCATION DEVELOPS THE MIND AND CHARACTER OF EACH STUDENT. FORM 990, PART VI, SECTION B, LINE 11B PROCESS FOR REVIEWING 990: THE TREASURER, DIRECTOR OF BUDGET AND FINANCIAL ANALYSIS AND PRESIDENT CONSULT TO DETERMINE THAT A DRAFT OF THE 990 FORM IS ACCURATE TO THE BEST OF THEIR KNOWLEDGE. BY CHARTER MANDATE, THE AUDIT COMMITTEE OF THE BOT REVIEWS AND APPROVES THE DRAFT BEFORE IT IS MADE AVAILABLE TO ALL MEMBERS OF BOARD OF TRUSTEES(BOT)ELECTRONICALLY. CORRECTIONS, COMMENTS AND SUGGESTIONS FROM ALL MEMBERS ARE COMPILED AND, AS APPROPRIATE, INCORPORATED INTO THE RETURN BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY EACH FALL THE ASSISTANT SECRETARY TO THE BOARD OF TRUSTEES DISTRIBUTES THE CONFLICT OF INTEREST DISCLOSURE STATEMENTS TO THE TRUSTEES AND TO COVERED EMPLOYEES. SHE IS RESPONSIBLE FOR ENSURING THAT ALL DISTRIBUTED STATEMENTS ARE COMPLETED AND RETURNED AND REVIEWED FOR POTENTIAL CONFLICTS. THE VICE PRESIDENT FOR FINANCE AND ADMINISTRATION REPORTS THE RESULTS OF THE QUESTIONNAIRES TO THE AUDIT COMMITTEE OF THE BOARD. THE AUDIT COMMITTEE REPORTS CONFLICTS TO THE FULL BOARD FOR APPROPRIATE RESOLUTION. FORM 990, PART VI, SECTION B, LINE 15 LINE 15A: A COMMITTEE APPOINTED BY THE CHAIR OF THE BOARD OF TRUSTEES, CHAIRED BY A MEMBER OF THE BOARD OF TRUSTEES, AND CONSISTING IN MAJORITY OF TRUSTEES, WORKED WITH AND WAS ADVISED BY A PROFESSIONAL SEARCH CONSULTANT TO SELECT AND HIRE A NEW PRESIDENT OF THE COLLEGE WHOSE CONTRACT WAS NEGOTIATED IN 2005. ANNUALLY THEREAFTER, THE PRESIDENT'S PERFORMANCE WAS EVALUATED AND HIS COMPENSATION REVIEWED BY A SPECIAL COMMITTEE OF TRUSTEES APPOINTED FOR THAT EXPRESS PURPOSE BY THE CHAIR OF THE BOARD OF TRUSTEES. THEIR DELIBERATIONS INCLUDED REVIEW OF DATA FROM THE 990S OF OTHER INSTITUTIONS AND OF SURVEYS ON PRESIDENTIAL COMPENSATION AVAILABLE THROUGH MULTIPLE SOURCES. IN EARLY 2013, DURING NEGOTIATIONS FOR A NEW CONTRACT, THIS COMPENSATION COMMITTEE DELIBERATED TERMS FOR THE COLLEGE, REFERENCING MULTIPLE COMPARABLE PRESIDENTIAL SALARY SURVEYS WITH ASSISTANCE FROM ATTORNEYS FAMILIAR WITH EXECUTIVE CONTRACTS AND FROM A COLLEGE AND UNIVERSITY PRESIDENTIAL SEARCH CONSULTANT FAMILIAR WITH CONTRACTS AND COMPENSATION. THE PRESIDENT WAS REPRESENTED BY INDEPENDENT COUNSEL, AND NEGOTIATIONS CULMINATED IN A CONTRACT RATIFIED BY THE BOARD OF TRUSTEES IN 2013. THE PRESIDENT'S PERFORMANCE CONTINUES TO BE EVALUATED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP 540,926. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART IX, LINE 12: ADVERTISING AND PROMOTION EXPENSES INCLUDE, BUT ARE NOT LIMITED TO, THE PRINTING AND PUBLICATION OF MATERIALS TO MAKE POTENTIAL STUDENTS AWARE OF THE COLLEGE'S PROGRAMS AND OPPORTUNITIES. THIS LINE ALSO INCLUDES THE EXPENSES OF PUBLICIZING EVENTS AND ACTIVITIES SPONSORED BY ALUMNI RELATIONS, OFFICE OF ADVANCEMENT, ATHLETICS AND OTHER DEPARTMENTS ON CAMPUS TO STUDENTS, FACULTY, STAFF, ALUMNI AND THE GENERAL PUBLIC. R-MC EQUESTRIAN LLC 310 N CENTER STREET ASHLAND VA 23005 PROVIDE BOARDING OF HORSES, HORSE LESSONS, SHOWS, CAMPS AND EQUESTRIAN PROGR VA 101206 1800000 RANDOLPH-MACON COLLEGE RANDOLPH-MACON PROPERTIES LLC 310 N CENTER STREET ASHLAND VA 23005 SUPPORTING THE CHARITABLE ACTIVITIES OF RANDOLPH-MACON COLLEGE VA RANDOLPH-MACON COLLEGE