2017-04-14T04:27:03-05:00 2016-05-31 420714325 RSM US LLP 230 N ELM ST STE 1100 GREENSBORO NC 27401 990 2015-06-01 560556753 LENOIR-RHYNE UNIVERSITY LENO 8283287100 PO BOX 7164 HICKORY NC 28603 FREDERICK WHITT PRESIDENT 8283287100 2017-04-14 1 YONG ZHANG P01249785 3362724551 2015 2021-01-29 14:40:06Z FREDERICK WHITT PO BOX 7164 HICKORY NC 28603 120856451 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 1199 150 -43616 -43616 7157540 11004561 54994118 60878465 4165710 2131315 576338 928828 66893706 74943169 23314097 26674253 0 0 22469314 24067577 113194 80284 1940501 20646173 21750950 66542778 72573064 350928 2370105 180492722 179788482 29744890 32786846 150747832 147001636 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 40671084 25652336 47810227 PROVIDE EDUCATIONAL PROGRAMS AND CONFER UNDERGRADUATE DEGREES IN APPROXIMATELY SIXTY ACADEMIC PROGRAMS OF STUDY. 1635695 856227 4082849 PROVIDE EDUCATIONAL PROGRAMS AND CONFER MASTERS LEVEL GRADUATE DEGREES IN COUNSELING, ATHLETIC TRAINING, BUSINESS, AND OCCUPATIONAL THERAPY. 5744771 8985389 PROVIDE STUDENT LIFE PROGRAMS TO RESIDENTIAL AND COMMUTER STUDENTS AS PART OF THEIR ACADEMIC EXPERIENCES AT THE UNIVERSITY. 165690 165690 GRANT TO RELATED ORG TO COVER CERTAIN SHARED ADMINISTRATIVE COSTS. 165690 165690 48217240 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 3128 0 1 1199 1 1 1 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 0 NC SC X STEVE SHUMAKER 8283287334 643 8TH AVENUE NE HICKORY NC 28601 X BOYD L GEORGE TRUSTEE - CHAIR 1.00 X X 0 0 0 KATHERINE F MCKENZIE TRUSTEE - VICE CHAIR 1.00 X X 0 0 0 MARGARET JACKSON TRUSTEE - SECRETARY 1.00 X X 0 0 0 CHARLES M SNIPES TRUSTEE - ASST SECRETARY 1.00 1.00 X X 0 0 0 JEROME W BOLICK TRUSTEE - TREASURER 1.00 X X 0 0 0 KI-HYUN KENNY CHUN TRUSTEE 1.00 X 0 0 0 BOYD C WILSON JR TRUSTEE 1.00 X 0 0 0 G SCOTT HOMESLEY TRUSTEE 1.00 X 0 0 0 STEVE O HUNT TRUSTEE 1.00 X 0 0 0 MARY HINKLE SHORE TRUSTEE 1.00 X 0 0 0 STEPHEN M THOMAS TRUSTEE 1.00 X 0 0 0 MICHAEL W HINSHAW TRUSTEE 1.00 X 0 0 0 DEWYONE PEDIE KING TRUSTEE 1.00 1.00 X 0 0 0 GEORGE A MORETZ TRUSTEE 1.00 X 0 0 0 C CLIFF RITCHIE TRUSTEE 1.00 X 0 0 0 TIMOTHY M SMITH TRUSTEE 1.00 X 0 0 0 SYBIL B STEWART TRUSTEE 1.00 X 0 0 0 TONY W WOLFE TRUSTEE 1.00 X 0 0 0 D RHODES WOOLY TRUSTEE 1.00 X 0 0 0 JEFFREY P BRONNENBERG TRUSTEE 1.00 X 0 0 0 ALAN P DAVIS TRUSTEE 1.00 X 0 0 0 JANE C HANDLY TRUSTEE 1.00 X 0 0 0 JEARLD L LEONHARDT TRUSTEE 1.00 X 0 0 0 GABRIELLE MACON TRUSTEE 1.00 X 0 0 0 JOSEPH P MCGUIRE TRUSTEE 1.00 X 0 0 0 G STEVEN PLONK TRUSTEE 1.00 X 0 0 0 WILLIAM B TREXLER TRUSTEE 1.00 X 0 0 0 MADELEINE S DASSOW TRUSTEE 1.00 X 0 0 0 WAYNE B POWELL PRESIDENT/CEO 40.00 1.00 X X 329109 0 109250 NEILL MCGEACHY DIRECTOR OF ATHLETICS 26.00 14.00 X 128539 43570 15439 PETER KENDALL VP FINANCE 40.00 1.00 X 158453 0 16653 DREW L VAN HORN VP INSTITUTIONAL ADVANCEME 40.00 X 141549 0 27851 LARRY M HALL PROVOST 40.00 X 158112 0 21918 CLAYTON J SCHMIT PROVOST LTSS 40.00 X 133279 0 27227 RACHEL A NICHOLS DEAN ENROLLMENT MANAGEMENT 40.00 1.00 X 119221 0 29061 KATIE FISHER DEAN OF STUDENTS 40.00 X 92571 0 5770 ANDREW WEISNER PASTOR 40.00 X 71522 0 16464 PAUL SHUMAKER CONTROLLER 40.00 1.00 X 90371 0 20224 TERRI LIVINGSTON DIRECTOR OF ATHLETICS 1.00 40.00 X 0 3654 0 RICHARD BALL DIRECTOR PA 40.00 X 132044 0 20256 DONNA MURRAY PA PROFESSOR 40.00 X 103928 0 16063 1658698 47224 326176 9 0 1 0 HICKORY CONSTRUCTION COMPANY PO BOX 1769 HICKORY NC 28603 CONSTRUCTION NEEDS 2630188 ARAMARK CAMPUS SERVICES LR BOX 7476 HICKORY NC 28603 FOOD SERVICES 1371293 ARAMARK FACILITIES SERVICES 1255 CRESCENT GREEN DRIVE STE 210 CARY NC 27518 MAINTENANCE & HOUSEKEEPING 879705 ELLUCIAN COMPANY LP 4 COUNTRY VIEW ROAD MALVERN PA 19355 INFORMATION TECH CONSULTING 744956 LORD AECK SARGENT ARCHITECTURE 1175 PEACHTREE ST NE STE 2400 ATLANTA GA 30361 FACILITY DESIGN SERVICES 403656 18 256327 772789 9975445 488196 11004561 TUITION AND FEES 611710 51729205 51729205 AUXILIARY SERVICES 611710 9149260 9149260 60878465 4136207 -43616 4179823 173553 55595 117958 117958 117958 43783085 69710 45741387 116300 -1958302 -46590 -2004892 -2004892 MISCELLANEOUS 611710 810870 810870 810870 74943169 60878465 -43616 3103759 165690 165690 26508563 26508563 1522832 719538 741162 62132 17570946 8302272 8551779 716895 859790 406251 418460 35079 2736920 1293195 1332059 111666 1377089 650675 670229 56185 5224685 2468664 2542854 213167 76458 36127 37212 3119 115472 54561 56200 4711 80284 80284 224914 224914 1558924 736592 758728 63604 290158 137100 141220 11838 693322 327594 337440 28288 1679958 793780 817636 68542 2978 1407 1449 122 21849 10324 10634 891 1198388 566239 583255 48894 1506261 711709 733097 61455 5150328 2433530 2506665 210133 548276 259060 266846 22370 UTILITIES 1890682 893347 920195 77140 SERVICE AGREEMENTS SOFT 1098114 518859 534452 44803 MEMBERSHIP & DUES 223989 105835 109015 9139 BAD DEBT 39912 18859 19425 1628 206282 97469 100397 8416 72573064 48217240 22415323 1940501 4720 4485 11935765 15753467 3005101 1850513 2982617 1768618 1225274 1098926 23918 11784 666105 823291 117900361 49919212 61339363 67981149 62134183 57846559 30903846 27135234 6271830 5514456 180492722 179788482 4527172 4743433 1943914 1927109 13414821 18530499 190387 142664 6168859 3873572 330615 3169122 3569569 29744890 32786846 X 36096867 30054197 36746977 35450423 77903988 81497016 150747832 147001636 180492722 179788482 X 2370105 -4921925 -1194376 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 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 61678109 428546 -1650927 1632407 611043 70052 58142226 0.01730 0.82240 0.16030 0 0 378782 2399190 2777972 90279581 44790277 45489304 12350270 1334533 11015737 12492538 3794402 8698136 67981149 EQUITY FUNDS 4679333 F HEDGE FUNDS 9140630 F LIMITED PARTNERSHIPS 11005911 F ANNUITY CONTRACTS 2309360 F 27135234 GOVERNMENT ADVANCES FOR STUDENT LOANS 1342468 INTEREST RATE SWAP 1377885 ASSET RETIREMENT OBLIGATIONS 849216 3569569 X 42222968 -4921925 -27849879 -32771804 74994772 50582 -102185 -51603 74943169 45969164 102185 102185 45866979 50582 26655503 26706085 72573064 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 -26,508,563. GAIN ON INTEREST RATE SWAP -718,175. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -623,141. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -55,595. LOSS ON SALE OF FIXED ASSETS -46,590. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 55,595. LOSS ON SALE OF FIXED ASSETS 46,590. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSE 26,508,563. NONCASH TICKET DONATION TO RELATED ORGANIZATION 146,940. 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 12275317 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 295452 0 0 0 0 0 0 12570769 0 12570769 1 0 1 1 1 0 PART I, LINE 3: THE ORGANIZATION USES GAAP TO REPORT FOREIGN INVESTMENTS. X X X X X 1 ROYALL & COMPANY 1920 EAST PARHAM ROAD RICHMOND VA 23228 FUNDRAISING CONSULTING 0 0 21184 -21184 HANOVER RESEARCH COUNCIL 4401 WILSON BLVD 4TH FLOOR ARLINGTON VA 22203 GRANT RESEARCH 0 0 49650 -49650 JACKSON GROUP INC PO BOX 1662 HICKORY NC 28603 ALUMNI SURVEYS 0 0 5950 -5950 76784 -76784 NC SC NH MN NONE NONE 1 PIEDMONT EDUCATIONAL FOUNDATION PO BOX 7164 HICKORY NC 28603 566061289 501(C)(3) 18750 146940 FAIR MARKET VALUE TICKETS TO SPORTING EVENTS GENERAL SUPPORT 1 0 SCHOLARSHIPS AND FELLOWSHIPS TO UNDERGRADUATE STUDENTS 1444 25652336 0 SCHOLARSHIPS AND FELLOWSHIPS TO GRADUATE STUDENTS 175 856227 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 1 0 0 0 0 0 0 0 WAYNE B POWELL PRESIDENT/CEO 325981 0 0 0 3128 0 92250 0 17000 0 438359 0 0 0 NEILL MCGEACHY DIRECTOR OF ATHLETICS 126512 43570 0 0 2027 0 7969 0 7470 0 143978 43570 0 0 PETER KENDALL VP FINANCE 157421 0 0 0 1032 0 9562 0 7091 0 175106 0 0 0 DREW L VAN HORN VP INSTITUTIONAL ADVANCEME 140043 0 0 0 1506 0 8906 0 18945 0 169400 0 0 0 LARRY M HALL PROVOST 157080 0 0 0 1032 0 9745 0 12173 0 180030 0 0 0 CLAYTON J SCHMIT PROVOST LTSS 130165 0 0 0 3114 0 8307 0 18920 0 160506 0 0 0 RICHARD BALL DIRECTOR PA 130460 0 0 0 1584 0 8147 0 12109 0 152300 0 0 0 PART I, LINE 4B WAYNE B. POWELL, PRESIDENT, PARTICIPATES IN A 457F SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. LENOIR RHYNE UNIVERSITY CONTRIBUTED $40,829 TO THE PLAN DURING 2015. 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 964515 13592000 183622 13408378 13408378 2010 1 0 1 1 B 11096986 17000000 1817191 208150 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 28 488196 FAIR MARKET VALUE 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. NON-CASH CONTRIBUTIONS LABELED AS NOT VALUED" ON SCHEDULE M WERE OF MINIMAL VALUE, MOSTLY CONSISTING OF LIBRARY BOOKS AND HOUSEHOLD GOODS. 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. BOARD OF TRUSTEE MEMBER MARGARET JACKSON OWNS THE JACKSON GROUP. LRU HAS USED THIS BUSINESS FOR PUBLIC RELATIONS. 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 11 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 VII, SECTION A, COLUMN B NEILL MCGEACHY, EXECUTIVE DIRECTOR FOR PEF, DEVOTES 75% OF HIS TIME TO LENOIR RHYNE UNIVERSITY AND 25% TO PIEDMONT EDUCATIONAL FOUNDATION. HE IS ISSUED A W-2 THROUGH LENOIR RHYNE UNIVERSITY OF WHICH $43,570 IS PAID BY PIEDMONT EDUCATIONAL FOUNDATION, INC. UPON HIS RETIREMENT IN MARCH 2016, TERRI LIVINGSTON WAS PROMOTED TO ASSUME THE RESPONSIBILITES OF HIS POSITION. TERRI LIVINGSTON WAS HIRED INTO ANOTHER POSITION IN DECEMBER 2015, PREVIOUS TO HER AFOREMENTIONED PROMOTION. FORM 990, PART XI, LINE 9: NONCASH TICKET DONATION TO RELATED ORGANIZATION 146,940. GAIN ON INTEREST RATE SWAP -718,175. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -623,141. FORM 990, PART XII, LINE 2C, FINANCE COMMITTEE: 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 11B, II N/A 0 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 1 1 0 1