2018-03-30T10:53:24-05:00 2017-05-31 420714325 RSM US LLP 230 N ELM ST STE 1100 GREENSBORO NC 27401 990 2016-06-01 560556753 LENOIR-RHYNE UNIVERSITY LENO 8283287100 PO BOX 7164 HICKORY NC 28603 FREDERICK WHITT PRESIDENT 8283287100 2018-03-30 1 YONG ZHANG P01249785 3362724551 108.171.131.171 2018-03-30 11:53:09 ED P 5F21F1B220EB2C4D3C747890DFA22ED77C160406 68E3BE8F27530CB92DCBE14CB09CA2C152DDBB4C 2016 2021-01-29 14:40:06Z FREDERICK K WHITT PO BOX 7164 HICKORY NC 28603 109976220 0 X WWW.LR.EDU X 1905 NC LENOIR-RHYNE UNIVERSITY PROVIDES PROGRAMS OF UNDERGRADUATE, GRADUATE, AND CONTINUING STUDY COMMITTED TO THE LIBERAL ARTS AND SCIENCES. THE UNIVERSITY AWARDS BACHELORS AND MASTER DEGREES. 29 28 1249 150 -3110 -3110 11004561 9595128 60878465 69536226 2131315 4595186 928828 763139 74943169 84489679 26674253 30789221 0 0 24067577 26005517 80284 67096 1927398 21750950 24747118 72573064 81608952 2370105 2880727 179788482 203913956 32786846 48266049 147001636 155647907 X LENOIR-RHYNE UNIVERSITY PROVIDES PROGRAMS OF UNDERGRADUATE, GRADUATE, AND CONTINUING STUDY COMMITTED TO THE LIBERAL ARTS AND SCIENCES. THE UNIVERSITY AWARDS BACHELORS AND MASTER DEGREES. 0 0 45976278 29639617 54582821 PROVIDE EDUCATIONAL PROGRAMS AND CONFER UNDERGRADUATE DEGREES IN APPROXIMATELY SIXTY ACADEMIC PROGRAMS OF STUDY. THE UNVERSITY OFFERS 57 DIFFERENT PROGRAMS OF STUDY FOR UNDERGRADUATES AND 24 DIFFERENT PROGRAMS FOR GRADUATE DEGREES. 6514038 10286995 PROVIDE STUDENT LIFE PROGRAMS TO RESIDENTIAL AND COMMUTER STUDENTS AS PART OF THEIR ACADEMIC EXPERIENCES AT THE UNIVERSITY. 1851817 992480 4666410 PROVIDE EDUCATIONAL PROGRAMS AND CONFER MASTERS LEVEL GRADUATE DEGREES IN COUNSELING, ATHLETIC TRAINING, BUSINESS, AND OCCUPATIONAL THERAPY. 157124 157124 GRANT TO RELATED ORG TO COVER CERTAIN SHARED ADMINISTRATIVE COSTS. 157124 157124 54499257 1 1 0 0 0 0 0 0 1 1 1 1 0 0 1 1 1 0 1 0 1 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 238 0 1 1249 1 0 0 0 0 0 0 0 0 0 0 X 29 28 1 1 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 NC SC X FRED K WHITT 8283287334 643 8TH AVENUE NE HICKORY NC 28601 X MR BOYD L GEORGE CHAIR 1.00 X X 0 0 0 MR JEFFREY P BRONNENBERG TRUSTEE 1.00 X 0 0 0 DR KENNY CHUN TRUSTEE 1.00 X 0 0 0 MS MADELEINE S DASSOW TRUSTEE 1.00 X 0 0 0 MR ALAN P DAVIS TRUSTEE 1.00 X 0 0 0 MS KATHERINE B ESCH TRUSTEE 1.00 X 0 0 0 MR JEROME W BOLICK TRUSTEE 1.00 X 0 0 0 MS JANE CARTER HANDLY TRUSTEE 1.00 X 0 0 0 THE REV G SCOTT HOMESLEY TRUSTEE 1.00 X 0 0 0 MR STEVE O HUNT TRUSTEE 1.00 X 0 0 0 MS MARGARET H JACKSON TRUSTEE 1.00 X 0 0 0 MR DEWYONE PEDIE KING TRUSTEE 1.00 1.00 X 0 0 0 MR JEARLD L LEONHARDT TRUSTEE 1.00 X 0 0 0 MS GABRIELLE MACON TRUSTEE 1.00 X 0 0 0 MR JOSEPH P MCGUIRE TRUSTEE 1.00 X 0 0 0 MS KATHERINE F MCKENZIE TRUSTEE 1.00 X 0 0 0 MR GEORGE A MORETZ TRUSTEE 1.00 X 0 0 0 THE REV G STEVEN PLONK TRUSTEE 1.00 X 0 0 0 MR C CLIFF RITCHIE TRUSTEE 1.00 X 0 0 0 THE REV DR MARY HINKLE SHORE TRUSTEE 1.00 X 0 0 0 THE REV DR TIMOTHY M SMITH TRUSTEE 1.00 X 0 0 0 MR CHARLES M SNIPES TRUSTEE 1.00 1.00 X 0 0 0 MS SYBIL B STEWART TRUSTEE 1.00 X 0 0 0 MR STEPHEN M THOMAS TRUSTEE 1.00 X 0 0 0 THE REV DR WILLIAM B TREXLER TRUSTEE 1.00 X 0 0 0 MR BOYD C WILSON JR TRUSTEE 1.00 X 0 0 0 MR TONY W WOLFE TRUSTEE 1.00 X 0 0 0 THE REV D RHODES WOOLLY TRUSTEE 1.00 X 0 0 0 WAYNE POWELL PRESIDENT 40.00 1.00 X X 499880 0 33607 LARRY HALL PROVOST 40.00 X 164582 0 24834 PETER KENDALL VP FINANCE 40.00 1.00 X 160042 0 24695 DREW VAN HORN VP ADVANCEMENT 40.00 X 133597 0 29587 RACHEL NICHOLS DEAN ENROLLMENT MGMT 40.00 1.00 X 124146 0 30302 PAUL SHUMAKER CONTROLLER 40.00 1.00 X 92825 0 22854 KATHRYN FISHER DEAN OF STUDENTS 40.00 X 96872 0 6076 KIMBERLY PATE DIRECTOR OF ATHLETICS 40.00 1.00 X 71103 0 16201 ANDREW WEISNER CAMPUS PASTOR 40.00 X 72615 0 19214 CLAYTON SCHMIT LTSS PROVOST 40.00 X 136272 0 31416 RICHARD BALL DIRECTOR PHYSICIANS ASST PROGRAM 40.00 X 138579 0 23072 GERALD ERICKSON PROFESSOR PHYSICIANS ASST PROGRAM 40.00 X 112686 0 29645 MICHAEL KELLAR HEAD FOOTBALL COACH 40.00 X 112147 0 29265 DONNA MURRAY ASST DIR PHYSICIANS ASST PROGRAM 40.00 X 106518 0 22141 2021864 0 342909 14 0 1 0 HICKORY CONSTRUCTION COMPANY PO BOX 1769 HICKORY NC 28603 CONSTRUCTION NEEDS 7830449 DAVID E LOOPAR & CO PO BOX 3224 HICKORY NC 28603 CONSTRUCTION NEEDS 3138175 ARAMARK CAMPUS SERVICES LR BOX 7476 HICKORY NC 28603 FOOD SERVICES 1936129 PATRICK HARPER & DIXON LLP PO BOX 218 HICKORY NC 28603 LEGAL NEEDS 1727008 ARAMARK FACILITIES SERVICES 1255 CRESCENT GREEN DRIVE STE 210 CARY NC 27518 MAINTENANCE & HOUSEKEEPING 1208392 24 174309 809732 8611087 981131 9595128 TUITION AND FEES 611710 59287889 59287889 AUXILIARY SERVICES 611710 10248337 10248337 69536226 4048789 -28364 4077153 135309 57967 77342 77342 77342 25974971 25381984 46590 592987 -46590 546397 25254 521143 MISCELLANEOUS 611710 685797 685797 685797 84489679 69536226 -3110 5361435 157124 157124 30632097 30632097 1478064 695133 728390 54541 19028484 8949096 9377237 702151 940410 442275 463434 34701 3137432 1475535 1546126 115771 1421127 668356 700331 52440 5474210 2574521 2697691 201998 143712 67588 70821 5303 134071 63054 66070 4947 67096 67096 337932 337932 1797322 845281 885720 66321 351376 165252 173158 12966 760680 357748 374863 28069 1771141 832968 872818 65355 58185 27364 28674 2147 1246159 586069 614107 45983 279178 131297 137579 10302 5795275 2725517 2855912 213846 562841 264704 277368 20769 UTILITIES 1882366 885277 927630 69459 SERVICE AGREEMENTS SOFT 1317896 619807 649459 48630 BAD DEBT 692826 325836 341425 25565 MEMBERSHIP & DUES 218146 102594 107502 8050 1923802 904764 948050 70988 81608952 54499257 25182297 1927398 4485 4485 15753467 13803685 1850513 776885 1768618 2007323 1098926 971266 11784 7987 823291 915818 140042069 54814925 67981149 85227144 57846559 60603724 27135234 33789575 5514456 5806064 179788482 203913956 4743433 7312734 1927109 1781776 18530499 24859523 142664 183965 3873572 11300696 3569569 2827355 32786846 48266049 X 30054197 29559143 35450423 40307416 81497016 85781348 147001636 155647907 179788482 203913956 X 2880727 4890872 874672 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 94160563 3873039 9211047 2390140 1714679 471729 102668101 93872422 7694705 -2996639 2224278 1687563 498084 94160563 96337197 1414979 1752092 3708829 1460644 462373 93872422 87799864 4447337 9213398 3441929 1256552 424921 96337197 58142226 23881848 9220362 2193392 727511 523669 87799864 0.03410 0.79120 0.17470 0 0 376501 2399190 2775691 97037200 49530300 47506900 12861748 1440208 11421540 27367430 3844417 23523013 85227144 EQUITY FUNDS 5562554 F HEDGE FUNDS 13765049 F LIMITED PARTNERSHIPS 12227513 F ANNUITY CONTRACTS 2234459 F 33789575 GOVERNMENT ADVANCES FOR STUDENT LOANS 1234200 INTEREST RATE SWAP 786094 ASSET RETIREMENT OBLIGATIONS 807061 2827355 X 59557567 4890872 -29757425 -24866553 84424120 170116 -104557 65559 84489679 50911296 104557 104557 50806739 170116 30632097 30802213 81608952 PART IV, LINE 2B: LENOIR-RHYNE UNIVERSITY SERVES AS CUSTODIAN FOR FUNDS BELONGING TO VARIOUS STUDENT ORGANIZATIONS. GROUPS ARE ABLE TO ACCESS THE FUNDS ON REQUEST WITH APPROVAL OF ADVISOR. PART V, LINE 4: PROVIDE SCHOLARSHIPS, PROFESSORSHIPS, AND PROGRAM SUPPORT AS DESIGNATED BY DONORS. PART X, LINE 2: THE UNIVERSITY IS A TAX EXEMPT ENTITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FASB ASC. THE UNIVERSITY FILES A FORM 990-T IN ACCORDANCE WITH APPLICABLE U.S. FEDERAL REGULATIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS EXPENSE -30,632,097. GAIN ON INTEREST RATE SWAP 591,791. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 282,881. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -57,967. LOSS ON SALE OF FIXED ASSETS -46,590. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 57,967. LOSS ON SALE OF FIXED ASSETS 46,590. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSE 30,632,097. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE ORGANIZATION HAS NO ADVERTISING DIRECTLY TO STUDENTS. THE ORGANIZATION DISPLAYS THIS POLICY IN ITS CATALOGUE AND ON REGISTRATION MATERIALS. SCHEDULE E, PART I, LINE 6 LENOIR-RHYNE UNIVERSITY STUDENTS RECEIVE A VARIETY OF FEDERAL AND STATE GRANTS AND LOANS, INCLUDING BUT NOT LIMITED TO, DIRECT LOANS, PELL GRANTS, AND NORTH CAROLINA NEED-BASED SCHOLARSHIP PROGRAM. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 17242762 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 213258 0 0 0 0 0 0 17456020 0 17456020 1 0 1 1 1 0 PART I, LINE 3: THE ORGANIZATION USES GAAP TO REPORT FOREIGN INVESTMENTS. X X X X X 1 HANOVER RESEARCH COUNCIL 4401 WILSON BLVD 4TH FLOOR ARLINGTON VA 22203 GRANT RESEARCH 0 0 48750 -48750 EASYFISH MARKETING 110 CAMINO RUIZ CAMARILLO CA 93102 ALUMNI DATABASE WORK 0 0 6608 -6608 BEN ROBERT BEAVER 7 FALBROOK CT IRMO SC 29063 ADVANCEMENT CONSULTING 0 0 5683 -5683 61041 -61041 NC SC NH MN NONE NONE 1 PIEDMONT EDUCATIONAL FOUNDATION PO BOX 7164 HICKORY NC 28603 566061289 501(C)(3) 47324 109800 FAIR MARKET VALUE TICKETS TO SPORTING EVENTS GENERAL SUPPORT 1 0 SCHOLARSHIPS AND FELLOWSHIPS TO UNDERGRADUATE STUDENTS 1550 29639617 0 SCHOLARSHIPS AND FELLOWSHIPS TO GRADUATE STUDENTS 191 992480 0 PART I, LINE 2: GRANTS ARE AWARDED TO STUDENTS BASED UPON THE CRITERIA ESTABLISHED WITH EACH GRANT. FINANCIAL AID PERSONNEL MONITOR EACH GRANT ALONG WITH THE TOTAL AID RECEIVED BY EACH STUDENT TO ENSURE THAT INDIVIDUALS AS WELL AS COLLECTIVE AWARDS ARE WITHIN THE GUIDELINES ESTABLISHED BY STATE AND FEDERAL GOVERNMENTAL AGENCIES. X X X 0 0 0 0 0 0 0 0 0 WAYNE POWELL PRESIDENT 496752 0 0 0 3128 0 15900 0 17707 0 533487 0 0 0 LARRY HALL PROVOST 163550 0 0 0 1032 0 10165 0 14669 0 189416 0 0 0 PETER KENDALL VP FINANCE 159010 0 0 0 1032 0 9901 0 14794 0 184737 0 0 0 DREW VAN HORN VP ADVANCEMENT 132470 0 0 0 1127 0 8406 0 21181 0 163184 0 0 0 RACHEL NICHOLS DEAN ENROLLMENT MGMT 123786 0 0 0 360 0 8021 0 22281 0 154448 0 0 0 CLAYTON SCHMIT LTSS PROVOST 134025 0 0 0 2247 0 8597 0 22819 0 167688 0 0 0 RICHARD BALL DIRECTOR PHYSICIANS ASST PROGRAM 135531 0 0 0 3048 0 8484 0 14588 0 161651 0 0 0 A LENOIR-RHYNE UNIVERSITY 560556753 NONEAVAIL 2008-03-13 13592000 FOR REFINANCING OF PREVIOUS BOND ISSUE WHICH FINANCED BUILDING RENOVATION. 0 0 0 B NORTH CAROLINA CAPITAL FACILITIES FINANCE AGENCY 562592154 NONEAVAIL 2015-12-17 17000000 TO FINANCE BUILDINGS AND STRUCTURES 0 0 0 A 1636000 13592000 183622 13408378 13408378 2010 1 0 1 1 B 173000 17000000 1817191 198354 14974659 2015 1 0 1 1 A 0 0 0 0 1 0 0 B 0 0 0 0 1 0 0 A 1 1 1 SUN TRUST 10.000000000000 0 0 0 0 0 B 1 1 1 SUN TRUST 10.000000000000 0 0 0 0 0 A 1 B 1 X 1 21900 OWNER'S ESTIMATE X 22 691083 FAIR MARKET VALUE X CONSTRUCTION MATERIALS 1 262604 OWNER'S ESTIMATE X OFFICE FURNITURE 1 3844 OWNER'S ESTIMATE X CLOTHING/UNIFORMS 1 1700 OWNER'S ESTIMATE 0 0 0 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS LISTED INDICATES THE NUMBER OF DONORS. PART I, LINE 33: MANAGMENT RETAINS RECORDS OF EACH DONATION, INCLUDING THE DONOR NAME AND DESCRIPTION OF DONATION; HOWEVER, IT IS THE POLICY OF THE UNIVERSITY TO REFRAIN FROM RECORDING CONTRIBUTION REVENUE FOR MINIMAL DONATIONS. FORM 990, PART VI, SECTION A, LINE 2 HICKORY IS A RELATIVELY SMALL TOWN, AND MANY MEMBERS ON THE BOARD (OR A FAMILY MEMBER) OPERATE A BUSINESS IN TOWN THAT OTHERS MAY PATRONIZE IN THE NORMAL COURSE OF BUSINESS. BOARD OF TRUSTEE MEMBER BOYD L. GEORGE IS COB/CEO OF ALEX LEE INC., WHICH OWNS LOWES FOODS. LRU HAS USED LOWES FOODS FOR FOOD-RELATED SUPPLIES. FORM 990, PART VI, SECTION A, LINE 3 THE UNIVERSITY HAS FOUR SIGNIFICANT MANAGEMENT CONTRACTS WITH OUTSIDE SERVICE PROVIDERS. THESE INCLUDE MANAGEMENT (ARAMARK), DINING SERVICES (ARAMARK), BOOKSTORE OPERATIONS (VALIDIS), AND IT OPERATIONS (SUNGUARD HIGHER EDUCATION). IN ALL OF THESE INSTANCES THE UNIVERSITY HAS A DETAILED CONTRACT WITH THE VENDOR THAT CLEARLY DELINEATES THE AUTHORITY THESE ORGANIZATIONS AND THEIR EMPLOYEES HAVE TO PROVIDE MANAGEMENT AND OTHER SERVICES. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE BOARD OF TRUSTEES ARE ELECTED BY THE ORGANIZATION'S GOVERNING BODY WITH THE EXCEPTION OF THE BISHOP OF THE NC SYNOD. THE BISHOP OF THE NC SYNOD IS ELECTED BY THE DELEGATES TO THE SYNOD CONVENTION AND HE/SHE HOLDS AN EX-OFFICIO VOTING POSITION ON THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE BUSINESS OFFICE STAFF. THEN IT IS REVIEWED BY THE AUDIT COMMITTEE. THE 990 IS THEN PROVIDED DIGITALLY TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C THE CHAIR OF THE BOARD OF TRUSTEES AND THE PRESIDENT OF THE UNIVERSITY REQUEST THAT ALL TRUSTEES, OFFICERS, SENIOR MANAGERS AND DEPARTMENT MANAGERS REVIEW THE CONFLICT OF INTEREST POLICY AND COMPLETE THE DISCLOSURE FORM ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD CONDUCTS AN ANNUAL PERFORMANCE APPRAISAL OF THE PRESIDENT. THIS COMMITTEE THEN APPROVES CHANGES IN COMPENSATION AND/OR THE EMPLOYMENT CONTRACT OF THE PRESIDENT BASED ON A REVIEW OF HISTORICAL COMPENSATION DATA COMPILED REGARDING THE COMPENSATION OF THE PRESIDENTS OF SIMILAR ORGANIZATIONS IN NORTH CAROLINA AND THROUGHOUT THE UNITED STATES. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART VII, SECTION A, COLUMN F THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN COLUMN F, PART VII AND IS NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. FORM 990, PART XI, LINE 9: GAIN ON INTEREST RATE SWAP 591,791. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 282,881. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE'S PROCESS OF OVERSIGHT AND SELECTION HAS NOT CHANGED SINCE PRIOR YEAR. REESE HOLDINGS LLC PO BOX 7164 HICKORY NC 28603 560556753 HOLDING OF CONTRIBUTED REAL ESTATE NC 0 663000 LENOIR RHYNE UNIVERSITY INC PIEDMONT EDUCATIONAL FOUNDATION PO BOX 7280 HICKORY NC 28603 566061289 PROVIDE ATHLETIC SCHOLARSHIPS FOR LENOIR RHYNE UNIVERSITY NC 501(C)(3) LINE 12B, II N/A 0 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1