2017-04-17T10:48:49-05:00 2016-05-31 420714325 RSM US LLP 111 ROUNDABOUT COURT ROCKY MOUNT NC 27804 990 2015-06-01 560547511 LOUISBURG COLLEGE LOUI 9194962521 501 N MAIN STREET LOUISBURG NC 27549 DR MARK D LA BRANCHE PRESIDENT 9194973226 2017-04-17 1 JAMES W MATTHEWS JR P00173928 2524460731 2015 2021-01-29 14:40:06Z DR MARK D LA BRANCHE 501 N MAIN ST LOUISBURG NC 27549 24154015 0 X HTTP://WWW.LOUISBURG.EDU/ X 1928 NC TO PROVIDE EDUCATION OPPORTUNITIES TO STUDENTS UNDER A COLLEGE DEGREE PROGRAM. 31 30 402 45 0 0 2792171 1875747 17162016 18543034 482086 715290 98389 67990 20534662 21202061 4598724 4778182 0 0 7232673 7545246 38936 32434 463000 8989389 8929639 20859722 21285501 -325060 -83440 50426611 49215835 29283422 29213868 21143189 20001967 X (SEE CONTINUATION OF PRIMARY MISSION STATEMENT ON SCHEDULE O) RELATED BY FAITH TO THE UNITED METHODIST CHURCH, LOUISBURG COLLEGE IS COMMITTED TO OFFERING A SUPPORTIVE COMMUNITY WHICH NURTURES YOUNG MEN AND WOMEN INTELLECTUALLY, CULTURALLY, SOCIALLY, PHYSICALLY, AND SPIRITUALLY. AS A TWO-YEAR RESIDENTIAL INSTITUTION, WE PROVIDE A BRIDGE FOR STUDENTS TO MAKE A SUCCESSFUL TRANSITION FROM HIGH SCHOOL TO SENIOR COLLEGES AND UNIVERSITIES. 0 0 16984640 4778182 18551389 (SEE CONTINUATION OF PROGRAM SERVICE ACCOMPLISHMENTS ON SCHEDULE O) THE COLLEGE CONTINUES TO ENJOY A CONSISTENT INCREASE OF STUDENTS WITH HIGHER GPA AVERAGES AS A RESULT OF STRATEGIC RECRUITMENT EFFORTS. THOUGH FALL ENROLLMENT SAW A SLIGHT DIP IN FALL OF 2016, CONSISTENCY AND SLIGHT RISES IN DATA POINTS FROM SAT/ACT SCORES TO NUMBER OF STUDENTS ON THE COLLEGE'S HONOR'S AND DEAN'S LISTS AS WELL AS MEASURED EFFORTS TO ADDRESS THIS DIP IN ENROLLMENT HAVE PROVEN PRELIMINARILY ENCOURAGING. AN EXTREMELY STABLE ACADEMIC SUCCESS RATE IS ALSO CONFIRMATION OF LOUISBURG'S SUCCESS IN PREPARING STUDENTS FOR THE NEXT STEPS IN THE COLLEGIATE CAREERS. MOST CURRENT INFORMATION FOR STUDENT ACHIEVEMENT IS OUTLINED AS FOLLOWS: FOR THE FALL OF 2016, ACCORDING TO OUR CENSUS DATA REPORTED TO BOTH NCHED AND IPEDS, THE COLLEGE ENROLLED 687 STUDENTS. STUDENT-TO-FACULTY RATIO IS PROJECTED TO STAY CONSISTENT AT 15:1. OUR GRADUATION RATE FOR 2016-17 (BASED ON STUDENTS WHO ENROLLED INTO THE COLLEGE FALL 2013 AND GRADUATED WITHIN 150% OF NORMAL TIME (OR THREE YEARS)) IS 16%. OUR TRANSFER-OUT RATE FOR THIS SAME COHORT AND THREE YEAR TIME SPAN IS 57%. SINCE THE COLLEGE REGARDS BOTH SUCCESSFULLY TRANSFERRING AND GRADUATING AS SUCCESS, THE ACADEMIC SUCCESS RATE (GRADUATION RATE + TRANSFER-OUT RATE) IS 73% FOR 2016. THIS IS THE SAME FIGURE REPORTED ON THE STUDENT ACHIEVEMENT WEB PAGE FOR THE APPROPRIATE CHART.ADDITIONAL INFORMATION ON STUDENT ACHIEVEMENT IS LOCATED AT HTTP://WWW.LOUISBURG.EDU/ACADEMICS/ACHIEVEMENT.HTML 16984640 1 1 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 1 0 0 1 0 0 0 1 0 0 0 0 1 28 0 1 402 1 0 0 0 0 0 0 0 0 0 0 X 31 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 X DR MARK D LA BRANCHE 9194973207 501 N MAIN STREET LOUISBURG NC 27549 LUCY ALLEN TRUSTEE 1.00 X 0 0 0 ANNE BOWEN TRUSTEE 1.00 X 0 0 0 BRIAN WILDER TRUSTEE 1.00 X 0 0 0 CHAD BAREFOOT TRUSTEE 1.00 X 0 0 0 MICHAEL W BODDIE BOARD CHAIR 1.00 X 0 0 0 JOHN A ALLEN TRUSTEE 1.00 X 0 0 0 WILLIAM R CROSS TRUSTEE 1.00 X 0 0 0 DAVID DEBERRY TRUSTEE 1.00 X 0 0 0 MARLA G COLEMAN TRUSTEE 1.00 X 0 0 0 SIDNEY E DUNSTON TRUSTEE 1.00 X 0 0 0 JOHN HATCHER JR TRUSTEE 1.00 X 0 0 0 EMILY HODGES TRUSTEE 1.00 X 0 0 0 PEGGY W WINSTEAD TRUSTEE 1.00 X 0 0 0 LYNDA C LUMPKIN TRUSTEE 1.00 X 0 0 0 ALEX CHEEK TRUSTEE 1.00 X 0 0 0 BETH M NORRIS TRUSTEE 1.00 X 0 0 0 RUSSELL ODOM TRUSTEE 1.00 X 0 0 0 ELY J PERRY III TRUSTEE 1.00 X 0 0 0 FRED ROBERSON TRUSTEE 1.00 X 0 0 0 W BRITT COBB JR TRUSTEE 1.00 X 0 0 0 SHARON H BRYSON TRUSTEE 1.00 X 0 0 0 JOHN F STROTMEYER TRUSTEE 1.00 X 0 0 0 C BOYD STURGES III TRUSTEE 1.00 X 0 0 0 ROGER G TAYLOR TRUSTEE 1.00 X 0 0 0 JAMES P WEST TRUSTEE 1.00 X 0 0 0 WILLIAM C SHELTON TRUSTEE 1.00 X 0 0 0 BOBBIE RICHARDSON TRUSTEE 1.00 X 0 0 0 CHARLES KNIGHT TRUSTEE 1.00 X 0 0 0 DONALD PARROTT TRUSTEE 1.00 X 0 0 0 FRANKLIN T ROBERTS TRUSTEE 1.00 X 0 0 0 LYNDA W HUDSON TRUSTEE 1.00 X 0 0 0 DAWN ROBINSON VICE PRESIDENT OF FINANCE 40.00 X 106658 0 13722 JIM ECK VICE PRESIDENT OF ACADEMIC 40.00 X 105748 0 31240 STEPHANIE TOLBERT VICE PRESIDENT OF ENROLLMENT 40.00 X 104157 0 16748 DR MARK D LA BRANCHE PRESIDENT 40.00 X 199705 0 22695 516268 0 84405 4 0 1 0 CHARTWELLS 501 N MAIN LOUISBURG NC 27549 FOOD SERVICE 1521956 NATIONAL MANAGEMENT RESOURCES 113 CORPORATE PARK E CT LAGRANGE GA 30241 HOUSEKEEPING 339287 2 703866 1171881 68414 1875747 TUITION AND FEES 611310 11900025 11900025 AUXILIARY ENTERPRISES 611310 6643009 6643009 18543034 300241 300241 59635 0 59635 59635 59635 3367003 2951954 415049 415049 415049 OTHER INCOME 900099 4668 4668 TICKET SALES 711300 3687 3687 8355 21202061 18551389 0 774925 4778182 4778182 600673 136988 463685 5349453 4289017 806475 253961 396772 230782 149548 16442 725295 589127 106209 29959 473053 373489 78069 21495 5524 5524 92449 92449 32434 32434 88404 88404 1923179 1554143 369036 143171 28320 6142 108709 123200 60086 63114 1496067 1107669 388398 210923 196907 14016 807650 632847 174803 1417039 1417039 509631 435918 73713 SUPPLIES 529181 489003 40178 BAD DEBTS 375056 375056 EVENT EXPENSE 310847 174836 136011 AUXILLARY EXPENSES 297105 297105 600213 193182 407031 21285501 16984640 3837861 463000 10661 9243 797599 526250 431916 423979 811564 789485 618144 611001 443998 479315 124808 327674 47820742 15477727 32854778 32343015 13112663 12487228 882614 865413 337866 353232 50426611 49215835 1201927 1252936 905831 927348 25015395 24888069 2160269 2145515 29283422 29213868 X 6511136 5977451 4155110 3560450 10476943 10464066 21143189 20001967 50426611 49215835 X -83440 -856423 -201359 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 1 92.00 1 0 1 1 1000.00 0 1 1700 14040 X X X 0 14331689 41852 -189758 452563 84603 13646617 13897408 140532 845822 429429 122644 14331689 12472637 527410 1389548 377666 114521 13897408 11498112 78782 1348526 355499 97284 12472637 11755514 232349 -61626 352260 75865 11498112 0.03000 0.77000 0.20000 1 0 617344 617344 36357025 8158421 28198604 8713490 5489341 3224149 2132883 1829965 302918 32343015 AGENCY FUNDS 134793 ADVANCES FROM FEDERAL GOVERNMENT FOR STUDENT LOANS 559281 LIABLITY FOR PENSION BENEFITS 1451441 2145515 X 16110127 -856423 -856423 16966550 88404 4147107 4235511 21202061 16367890 0 16367890 88404 4829207 4917611 21285501 PART II, LINE 9: CONTRIBUTED PROPERTY AND EQUIPMENT IS RECORDED AT FAIR VALUE AT THE DATE OF DONATION. IF DONORS STIPULATE HOW LONG THE ASSETS MUST BE USED, THE CONTRIBUTIONS ARE RECORDED AS RESTRICTED SUPPORT. IN THE ABSENCE OF SUCH STIPULATIONS, CONTRIBUTIONS OF PROPERTY AND EQUIPMENT ARE RECORDED AS UNRESTRICTED SUPPORT. PART III, LINE 4: THE COLLEGE'S COLLECTIBLES CONSIST OF A 1860 WEBER GRAND PIANO, PAINTINGS AND ARTWORK. THE COLLECTIBLES ARE AVAILABLE FOR EDUCATION, PUBLIC EXHIBITION AND PRESEREVATION FOR FUTURE GENERATIONS. PART X, LINE 2: MANAGEMENT EVALUATED THE COLLEGE'S TAX POSITIONS AND CONCLUDED THAT THE COLLEGE HAS 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 ACCOUNTING STANDARDS CODIFICATION. THE COLLEGE BELIEVES IT DOES NOT HAVE ANY FILING REQUIREMENTS FOR THE FORM 990-T AND ACCORDINGLY HAS NOT FILED A FORM 990-T. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 4,778,182. INVESTMENT RETURN OVER SPENDING POLICY -682,100. RECLASSIFICATION OF LOSSES 51,025. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 4,778,182. RECLASSIFICATION OF LOSSES 51,025. PART V LINE 4 PART V - LINE 4 - EARNINGS FROM ENDOWMENT FUNDS ARE AVAILABLE FOR THE PURPOSE SPECIFIED IN THE DONOR'S ENDOWMENT AGREEMENT, PRIMARILY SCHOLARSHIP ALLOWANCES TO STUDENTS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 6 VARIOUS FINANCIAL AID AWARDS ARE RECEIVED FROM FEDERAL AND STATE AGENCIES TO ASSIST THE SCHOOL AND STUDENTS IN EDUCATIONAL OPPORTUNITIES. X 0 RUFFALO NOEL LEVITZ 65 KIRKWOOD NORTH RD SW CEDAR RAPIDS IA 52404 ALUMNI CALLING 0 33009 32434 575 33009 32434 575 NC 1 INSTITUTIONAL SCHOLARSHIPS 346 4729021 FMV FEDERAL AND STATE GRANTS 692 49161 FMV PART I, LINE 2: STUDENTS ARE REQUIRED TO COMPLETE A FAFSA. ELIGIBILITY FOR SCHOLARSHIPS IS DETERMINED BY THE APPLICABLE FEDERAL AND STATE GUIDELINES, BY THEIR ACADEMIC CREDENTIALS, AND FINANCIAL NEED. STUDENTS ARE APPROPRIATELY AWARDED SCHOLARSHIPS IN THE FINANCIAL AID OFFICE AND THE AWARDS ARE TRANSFERRED TO THE STUDENTS' ACCOUNTS IN THE BUSINESS OFFICE. ALL SCHOLARSHIP AND GRANT FUNDS ARE RECONCILED EACH SEMESTER AND REPORTED TO THE APPROPRIATE AUTHORITIES OR AGENCIES. FUNDS ARE ALSO AUDITED ANNUALLY. X 1 1 X X X 0 0 0 0 0 0 0 0 0 DR MARK D LA BRANCHE PRESIDENT 199104 0 0 0 601 0 12197 0 10498 0 222400 0 0 0 PART I, LINE 1A THE COLLEGE PROVIDES A HOUSE FOR ITS PRESIDENT AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE COLLEGE. ACCORDINGLY, SUCH LODGING IS NOT INCLUDED IN TAXABLE INCOME. EMILY HODGES TRUSTEE AND INSURANCE AGENT 263762 PREMIUMS PAID FOR COMMERCIAL, STUDENT, ATHLETIC, AND LIABILITY INSURANCE POLICIES. 0 X 1 1700 MARKET VALUE X 1100 MARKET VALUE X LEGAL SERVICES 1 25000 MARKET VALUE X SOFTWARE 1 20810 MARKET VALUE X CONSTRUCTION 1 11887 MARKET VALUE X OTHER 9 7916 MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE TAX RETURN IS REVIEWED INTERNALLY THEN PRESENTED TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES FOR APPROVAL. THE FINAL RETURN IS PROVIDED TO ALL MEMBERS OF THE GOVERNING BODY ELECTRONICALLY PRIOR TO ITS SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE HAS FORMED A STANDING AUDIT COMMITTEE THAT OVERSEES THE CONFLICT OF INTEREST POLICY. EACH BOARD MEMBER IS REMINDED ANNUALLY AT THE FALL BOARD MEETING THAT HE OR SHE IS TO DISCLOSE ANY INTERESTS THAT COULD GIVE RISE TO A CONFLICT. THE ORGANIZATION'S CFO WILL DISCLOSE TO THE AUDIT COMMITTEE ANY INDIVIDUAL BOARD MEMBERS WHO DO BUSINESS WITH THE INSTITUTION. FORM 990, PART VI, SECTION B, LINE 15 ALL KEY EMPLOYEES' SALARIES ARE COMPARED WITH DATA FROM SIMILAR PRIVATE COLLEGES BEFORE THE POSITION IS AUTHORIZED. LOUISBURG COLLEGE USES DATA PROVIDED BY THE NORTH CAROLINA INDEPENDENT COLLEGES AND UNIVERSITIES ORGANIZATION WHICH PROVIDES COMPARARIVE DATA BASED ON THE SIZE AND ENROLLMENT OF THE COLLEGE. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANICAL STATEMENTS AVAILABLE TO THE PUBLIC IF REQUESTED. REQUESTERS MUST PRESENT THEMSELVES AT THE COLLEGE, STATE THE REASON FOR THE REQUEST, AND PAY FOR PHOTOCOPIES OF THE DOCUMENTS. THE DOCUMENTS ARE AVAILABLE FOR THE PERIOD SET FORTH IN IRC SECTION 6104(D). FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTEREST -17,201. DEFINED BENEFIT PENSION PLAN CHANGES -184,158. FORM 990 PART XII LINE 2C THE AUDIT COMMITTEE ASSUMES REPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE COLLEGE'S FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. KENAN HALL SARE LLC 501 NORTH MAIN ST LOUISBURG NC 27549 462059052 OWN, ENCUMBER, AND SELL THE KENAN HALL DORMITORY NC 10 6004434 LOUISBURG COLLEGE FOUNDATION LLC 501 NORTH MAIN ST LOUISBURG NC 27549 812734620 HOLD ASSETS THAT WILL BE USED AS COLLATERAL FOR USDA DEBT NC 0 0