2017-05-09T12:16:55-05:00 2016-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 1650 MARKET STREET SUITE 4500 PHILADELPHIA PA 19103 990 2015-07-01 231352354 LEBANON VALLEY COLLEGE LEBA 7178676421 101 NORTH COLLEGE AVENUE ANNVILLE PA 170031400 SHAWN CURTIN VP FINANCE & ADMINISTRATION 7178676421 2017-05-09 1 JULIUS C GREEN CPA P00350393 2159720701 2015 2021-01-29 14:40:06Z LEWIS E THAYNE 101 NORTH COLLEGE AVENUE ANNVILLE PA 170031400 107766963 0 X WWW.LVC.EDU X 1866 PA PROVIDES EDUCATIONAL SERVICES AT THE UNDERGRADUATE AND GRADUATE LEVEL. 33 28 1866 812 432767 -86442 7868816 9413305 63632478 67195820 1354539 551796 13250519 14051477 86106352 91212398 31487239 34849515 0 0 27772335 29916003 0 0 1370509 23139798 22299706 82399372 87065224 3706980 4147174 172097652 174204435 40917118 40600043 131180534 133604392 X LEBANON VALLEY COLLEGE DELIVERS A TRANSFORMATIVE EDUCATION BUILT ON THE LIBERAL ARTS. WE DEVELOP STUDENTS WHO THINK CRITICALLY AND CREATIVELY ACROSS BOUNDARIES; WHO SOLVE COMPLEX PROBLEMS; WHO COMMUNICATE EFFECTIVELY; AND WHO VALUE DIFFERENCES AMONG HUMAN BEINGS. OUR GRADUATES ARE EMPOWERED TO PURSUE A LIFE OF LEARNING, CITIZENSHIP, AND SUCCESS. 0 0 78197492 34849515 67593526 LEBANON VALLEY COLLEGE, FOUNDED IN 1866, OFFERS BACHELOR'S DEGREES IN 35 MAJORS; MASTER'S DEGREES IN BUSINESS ADMINISTRATION, MUSIC EDUCATION, AND SCIENCE EDUCATION, AND A DOCTORAL DEGREE IN PHYSICAL THERAPY. LOCATED EIGHT MILES FROM HERSHEY, PENNSYLVANIA, THIS LIBERAL ARTS COLLEGE OF 1,916 TOTAL ENROLLED STUDENTS PRODUCES ALUMNI WHO ATTEND PRESTIGIOUS GRADUATE AND PROFESSIONAL SCHOOLS, AND ARE EMPLOYED BY TOP COMPANIES AND SCHOOL DISTRICTS.SEVENTY FIVE PERCENT OF OUR FIRST-TIME, FULL-TIME FRESHMEN WHO HAVE HIGH SCHOOL RANKS GRADUATED IN THE TOP 30 PERCENT OF THEIR HIGH SCHOOL CLASS AND RECEIVE SCHOLARSHIPS BASED ON THEIR HIGH SCHOOL ACHIEVEMENT. 78197492 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 1 2731 0 1 1866 1 1 1 0 0 0 0 1 1 0 0 0 0 X 33 28 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 PA X GABRIEL PAZ 7178676421 101 NORTH COLLEGE AVENUE ANNVILLE PA 170030501 X WESLEY T DELLINGER CHAIR 1.00 X X 0 0 0 KATHERINE J BISHOP VICE CHAIR 1.00 X X 0 0 0 KRISTEN R ANGSTADT VICE CHAIR 1.00 X X 0 0 0 GERET P DEPIPER ASST SECRETARY 1.00 X X 0 0 0 LEWIS E THAYNE PRESIDENT 40.00 X X 309123 0 40317 JEANNE D ARNOLD TRUSTEE 1.00 X 0 0 0 JEFFREY BATES STUDENT TRUSTEE (UNTIL 5/2016) 1.00 X 1300 0 0 PHILIP BENESCH FACULTY TRUSTEE 40.00 X 58496 0 15484 EDWARD D BREEN TRUSTEE 1.00 X 0 0 0 TERENCE C BROWN TRUSTEE 1.00 X 0 0 0 DAVID A CASS TRUSTEE 1.00 X 0 0 0 SUSAN M CORBETT TRUSTEE 1.00 X 0 0 0 SUSANNE HARLEY DOMBROWSKI TRUSTEE 1.00 X 0 0 0 JAMES G GLASGOW TRUSTEE 1.00 X 0 0 0 M LOUISE HESS TRUSTEE 1.00 X 0 0 0 GREGORY J HESSINGER TRUSTEE 1.00 X 0 0 0 WENDIE DIMATTEO HOLSINGER TRUSTEE 1.00 X 0 0 0 GEORGE J KING TRUSTEE 1.00 X 0 0 0 VIDYA LALA STUDENT TRUSTEE 1.00 X 3182 0 0 SETH MENDELSOHN TRUSTEE/ADJUNCT FACULTY 1.00 X 9000 0 0 CARROLL SKIP MISSIMER TRUSTEE 1.00 X 0 0 0 CHESTER Q MOSTELLER TRUSTEE 1.00 X 0 0 0 KATHRYN ORIEL FACULTY TRUSTEE (BEGIN 5/2016) 1.00 X 90452 0 23319 LYNN G PHILLIPS TRUSTEE 1.00 X 0 0 0 JEFFREY J RITCHIE FACULTY TRUSTEE 40.00 X 71418 0 17309 ELLIOTT ROBINSON TRUSTEE 1.00 X 0 0 0 ELYSE E ROGERS TRUSTEE 1.00 X 0 0 0 KAREN A SCHMITT TRUSTEE 1.00 X 0 0 0 REV WILLIAM S SHILLADY TRUSTEE 1.00 X 0 0 0 TRACEY A STOVER TRUSTEE 1.00 X 0 0 0 RYAN H TWEEDIE TRUSTEE 1.00 X 0 0 0 ELIZABETH R UNGER TRUSTEE 1.00 X 0 0 0 REBECCA WHALEN STUDENT TRUSTEE (BEGIN 5/2016) 1.00 X 1089 0 0 SAMUEL A WILLMAN TRUSTEE 1.00 X 0 0 0 KENNETH YARNALL FACULTY TRUSTEE (UNTIL 5/2016) 40.00 X 75367 0 21336 SHAWN P CURTIN VP FINANCE/TREASURER 40.00 X 168482 0 31931 STEVEN O'DAY SECRETARY 40.00 X 144570 0 13179 MICHAEL GREEN VP ACADEMIC AFFAIRS/DEAN 40.00 X 188846 0 23486 GREGORY KRIKORIAN VP STUDENT AFFAIRS 40.00 X 133764 0 30180 STAN DACKO ASSOC. PROF. PHYSICAL THERAPY 40.00 X 122303 0 28085 DONALD SANTOSTEFANO SR. DIRECTOR OF FACILITIES MGMT 40.00 X 115901 0 20458 DAVID SHAPIRO DIRECTOR OF INFORMATION TECH 40.00 X 108758 0 23857 ELEANOR LEWIS CONTROLLER 40.00 X 107596 0 16264 1709647 0 305205 14 0 1 0 METZ CULINARY MANAGEMENT 2 WOODLAND DRIVE DALLAS PA 18612 FOOD SERVICES 3670161 ARTHUR FUNK & SONS INC 1405 BIRCH ROAD LEBANON PA 17042 CONSTRUCTION SERVICES 983672 ELLUCIAN INC 4375 FAIR LAKES COURT FAIRFAX VA 22033 SOFTWARE SERVICES 366543 CLAIR BROTHERS AUDIO SYSTEMS INC 1 CLAIR BOULEVARD MANHEIM PA 17545 AUDIO SERVICES 286297 STANTEC ARCHITECTURE INC 13980 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 ARCHITECTURAL SERVICES 262482 15 5432 92894 2809593 6505386 67503 9413305 STUDENT TUITION AND FEES 611600 67195820 67195820 67195820 879308 -1418 880726 85233 66018 19215 19215 19215 16140522 16468034 -327512 -327512 -327512 19916 92894 20513 -597 -597 RESIDENCE HALLS 721000 6802226 6802226 DINING HALL 722320 6082918 6082918 ATHLETIC CAMPS & TOURNAMENTS 713990 397706 397706 750009 434185 315824 14032859 91212398 67593526 432767 13772800 63900 63900 34785615 34785615 925652 521466 306855 97331 22502113 19011840 2714074 776199 1555112 1313129 172471 69512 3256913 2719529 397455 139929 1676213 1397082 209746 69385 83712 41856 41856 72875 72875 30000 30000 182144 182144 4678923 3966622 644290 68011 1192309 1156506 35803 2105107 1584930 454783 65394 182653 165342 16740 571 1507591 1507591 998711 883530 78819 36362 697971 697971 5577830 5577830 497276 497276 REPAIR/MAINTENANCE 1222859 785095 430607 7157 MINOR EQUIP. PURCHASE 747357 585989 160277 1091 LIBRARY MATERIALS 718603 718603 STUCO/CULTURAL PROGRAMS 277594 277594 1526191 1021827 500600 3764 87065224 78197492 7497223 1370509 4002 4000 7050823 8096701 2164400 3697876 1186574 723787 2231718 2252091 36789 29818 857584 1103907 172511521 84260785 88342004 88250736 51122740 51941108 14758897 14035218 4342121 4069193 172097652 174204435 3893995 5611760 361406 96719 31244765 29604856 1343749 1019506 4073203 4267202 40917118 40600043 X 74103713 75348005 16630863 16182021 40445958 42074366 131180534 133604392 172097652 174204435 X 4147174 -1729814 6498 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 30000 30000 0 PART II-B, LINE 1: PAID $30,000 TO LONG NYQUIST & ASSOCIATES TO ASSIST IN IDENTIFYING AND APPLYING FOR ELIGIBLE GRANTS. X X X 0 58759938 2416987 -1161066 1164126 1331478 57520255 55275576 3538698 2239712 1084898 1209150 58759938 46103144 5173448 6179402 1047090 1133328 55275576 45126214 1347586 1732280 1005251 1097685 46103144 46369916 1461762 -749106 929836 1026522 45126214 0.20460 0.64420 0.15120 0 0 2474725 2474725 127074518 59028916 68045602 21381283 15733843 5647440 21580995 9498026 12082969 88250736 ALTERNATIVE INVESTMENTS 13658087 F CSV LIFE INSURANCE POLICIES 377131 F 14035218 LIABILITY ON ANNUITY CONTRACTS 844567 STUDENT CREDIT BALANCES AND DEPOSITS 1612581 ADVANCES FROM FEDERAL GOVERNMENT FOR STUDENT LOANS 1810054 4267202 X 56790641 -1729814 -32778474 -34508288 91298929 -86531 -86531 91212398 54366783 86531 86531 54280252 32784972 32784972 87065224 PART III, LINE 4: THE COLLEGE'S COLLECTION CONSISTS OF ARTWORK, RARE BOOKS, AND OTHER OBJECTS. THE COLLECTION IS HELD FOR EDUCATION, RESEARCH, AND PUBLIC EXHIBITION AND IS PROTECTED, KEPT UNENCUMBERED, CARED FOR, AND PRESERVED. PART V, LINE 4: TO SUPPORT EDUCATIONAL PROGRAMS IN ACCORDANCE WITH THE DONOR DESIGNATIONS. PART X, LINE 2: THE COLLEGE FOLLOWS THE FASB GUIDANCE THAT REQUIRES A TAX POSITION TO BE RECOGNIZED BASED ON A "MORE LIKELY THAN NOT" TO BE SUSTAINED UPON EXAMINATION THRESHOLD. THE COLLEGE DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: STUDENT EDUCATIONAL GRANTS NETTED AGAINST REVENUE ON FINANCIALS -32,602,828. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE POLICY 6,498. INVESTMENT EXPENSES NETTED ON THE FINANCIALS -182,144. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -66,018. FUNDRAISING EXPENSES -20,513. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 66,018. FUNDRAISING EXPENSES 20,513. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT EDUCATIONAL GRANTS NETTED AGAINST REVENUE ON FINANCIALS 32,602,828. INVESTMENT EXPENSES NETTED ON THE FINANCIALS 182,144. 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 INCLUDED ON THE COLLEGE'S CATALOG, 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, AND PELL GRANTS. THE COLLEGE ALSO RECEIVES GRANTS FROM THE COMMONWEALTH OF PENNSYLVANIA. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, INVESTMENTS 690565 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM PROGRAM SERVICE EXPENSES STUDY ABROAD PROGRAM 19069 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, PROGRAM SERVICE EXPENSES RECRUITING EXPENSES 18420 NORTH AMERICA PROGRAM SERVICES STUDY ABROAD PROGRAM 5549 0 0 0 0 0 0 733603 0 733603 1 0 0 0 0 0 LVEP GOLF TOURNAMENT 95410 83097 12313 4233 4454 4593 LVC GOLF CLASSIC 17400 9797 7603 2592 2236 2405 112810 92894 19916 6825 6690 6998 20513 -597 1 ANVILLE TOWNSHIP 36 NORTH LANCASTER STREET ANNVILLE PA 17003 236003026 N/A 22900 CASH N/A UNRESTRICTED CONTRIBUTION TO SUPPORT THE TOWNSHIP ANVILLE-CLEONA SCHOOL DISCTICT 500 SOUTH WHITE OAK STREET ANNVILLE PA 17003 231602952 N/A 17800 CASH N/A UNRESTRICTED CONTRIBUTION TO SUPPORT THE SCHOOL DISTRICT UNION HOSE FIRE COMPANY 215 EAST MAIN STREET ANNVILLE PA 17003 231262911 501(C)(3) 18600 CASH N/A UNRESTRICTED CONTRIBUTION TO SUPPORT THE FIRE COMPANY OF $2,600 AND FOR THE PURCHASE OF A FIRE TRUCK, $16,000. 3 0 LVC GRANTS & SCHOLARSHIPS 1584 32447344 CASH N/A SEOG GRANTS 34 130198 CASH N/A STUDENT AWARDS 126 329384 CASH N/A PELL GRANTS 445 1790873 CASH N/A FACULTY ACADEMIC GRANTS 17 27409 CASH N/A TEACH GRANT 10 35121 CASH N/A LVC GRANTS TO FOREIGN STUDENTS 2 25286 CASH 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 FINANCIAL AID OFFICE. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 LEWIS E THAYNE PRESIDENT 309123 0 0 0 0 0 23850 0 16467 0 349440 0 0 0 SHAWN P CURTIN VP FINANCE/TREASURER 168482 0 0 0 0 0 15908 0 16023 0 200413 0 0 0 STEVEN O'DAY SECRETARY 144570 0 0 0 0 0 12825 0 354 0 157749 0 0 0 MICHAEL GREEN VP ACADEMIC AFFAIRS/DEAN 188846 0 0 0 0 0 17086 0 6400 0 212332 0 0 0 GREGORY KRIKORIAN VP STUDENT AFFAIRS 133764 0 0 0 0 0 12930 0 17250 0 163944 0 0 0 STAN DACKO ASSOC. PROF. PHYSICAL THERAPY 122303 0 0 0 0 0 11810 0 16275 0 150388 0 0 0 PART I, LINE 1A FROM THE EMPLOYMENT AGREEMENT BETWEEN LEBANON VALLEY COLLEGE AND LEWIS E. THAYNE - "THE COLLEGE SHALL PAY OR REIMBURSE THE EXECUTIVE FOR ALL REASONABLE BUSINESS EXPENSES INCURRED BY THE EXECUTIVE (AND HIS SPOUSE WHERE THERE IS A LEGITIMATE BUSINESS REASON FOR HIS SPOUSE TO ACCOMPANY HIM) IN CONNECTION WITH THE PERFORMANCE OF HIS DUTIES AND OBLIGATIONS UNDER THIS AGREEMENT. SUCH PAYMENTS SHALL INCLUDE REASONABLE REIMBURSEMENTS FOR TICKETS, SUBSCRIPTIONS, ETC. FOR THE EXECUTIVE AND HIS SPOUSE TO WORK-RELATED FUND RAISING EVENTS IN THE COMMUNITY. THESE REIMBURSEMENTS ARE NOT CONSIDERED TAXABLE BENEFITS TO THE EMPLOYEE. THESE EXPENDITURES SHALL BE SUBJECT TO THE REVIEW AND APPROVAL OF THE CHAIR OF THE BOARD." PART I, LINE 3 THE COLLEGE USES A COMPENSATION COMMITTEE, WRITTEN EMPLOYMENT CONTRACTS, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE IN ORDER TO ESTABLISH THE COMPENSATION OF THE ORGANIZATION'S CEO/EXECUTIVE DIRECTOR. A ANNVILLE TOWNSHIP AUTHORITY 236003026 2004-09-17 6000000 SEE PART VI 0 0 0 B ANNVILLE TOWNSHIP AUTHORITY 236003026 2007-11-29 10000000 SEE PART VI 0 0 0 C ANNVILLE TOWNSHIP AUTHORITY 236003026 2008-05-21 5066000 SEE PART VI 0 0 0 D ANNVILLE TOWNSHIP AUTHORITY 236003026 2009-08-11 5425000 SEE PART VI 0 0 0 A 1765000 6000000 6000000 2004 1 0 1 1 B 971235 10000000 10000000 2009 0 0 1 1 C 2680000 5066000 22240 2177760 2866000 2009 1 0 1 1 D 650000 5425000 5425000 2009 1 0 1 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 D 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 1 0 0 0 0 0 0 B 0 0 1 0 0 0 0 0 0 C 0 0 1 0 0 0 0 0 0 D 0 0 1 0 0 0 0 0 0 A 0 B 0 C 0 D 0 PART I, COLUMN F: PURPOSE OF BOND: A) REFUNDING OF NOTE PAYABLE OF 1997 B) CONSTRUCTION PROJECTS C) REFUNDING OF NOTES PAYABLE OF 1999 AND 2001 AND CONSTRUCTION PROJECTS D) REFUNDING OF NOTES PAYABLE OF 2004 AND LINE OF CREDIT FOR REDEMPTION OF 1999 BONDS E) CONSTRUCTION, RENOVATION, IMPROVEMENT, ALTERATION, EQUIPPING, AND FURNISHING COLLEGE FACILITIES AND VARIOUS CAPITAL ADDITIONS, ACQUISITIONS, AND IMPROVEMENTS F) REFUNDING OF NOTE PAYABLE OF 2005 SCHEDULE K, PART III LINE 9, PART IV LINE 7, AND PART V THE COLLEGE HAS PROCEDURES IN PLACE TO MONITOR COMPLIANCE AND IS IN THE PROCESS OF FORMALIZING A WRITTEN POLICY. A ANNVILLE TOWNSHIP AUTHORITY 236003026 2010-11-18 5200000 SEE PART VI 0 0 0 B ANNVILLE TOWNSHIP AUTHORITY 236003026 2013-07-30 5825000 SEE PART VI 0 0 0 A 400000 5200000 67950 5132050 2012 0 0 1 1 B 1225000 5825000 5825000 2013 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 1 0 0 0 0 0 0 B 0 0 1 0 0 0 0 0 0 A 0 B 0 RON DRNEVICH FORMER TRUSTEE 2719445 SEE PART V 0 WENDIE HOLSINGER TRUSTEE 1892280 SEE PART V 0 SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: RON DRNEVICH(D) DESCRIPTION OF TRANSACTION: RON DRNEVICH IS A BOARD MEMBER OF CAPITAL BLUE CROSS, THE COLLEGE'S MEDICAL INSURANCE PROVIDER. ALL TRANSACTIONS ARE COMPLETED AT AN ARM'S LENGTH BASIS. PAYMENTS MADE TO BLUE CROSS DURING THE YEAR AMOUNTED TO $2,719,445. (A) NAME OF PERSON: WENDIE HOLSINGER(D) DESCRIPTION OF TRANSACTION: WENDIE HOLSINGER SERVES ON THE LEBANON DIVISION OF THE FULTON BANK ADVISORY BOARD, THE COLLEGE'S FINANCIAL INSTITUTION. ALL TRANSACTIONS ARE COMPLETED AT AN ARM'S LENGTH BASIS. INTEREST AND FEES PAID TO FULTON EQUAL $1,892,280 FOR THE YEAR ENDED 6/30/2016. X 296 EXPERT OPINION X 9 67207 CLOSING PRICE 0 0 1 1 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS REPRESENTS THE NUMBER OF CONTRIBUTORS. PART I, LINE 32B: DONATIONS OF STOCKS ARE SOLD UPON RECEIPT BY THE COLLEGE'S INVESTMENT MANAGER. FORM 990, PART VI, SECTION A, LINE 3 THE COLLEGE OUTSOURCED ITS FOOD SERVICE TO METZ. THE COLLEGE ALSO OUTSOURCED ITS BOOKSTORE OPERATIONS TO BARNES AND NOBLE. FORM 990, PART VI, SECTION B, LINE 11 AFTER COMPLETION AND REVIEW BY MANAGEMENT, THE AUDIT COMMITTEE OF THE BOARD REVIEWED THE COMPLETE 990 IN DETAIL DURING THE MARCH AUDIT COMMITTEE MEETING. A FULL COPY OF THE 990 WAS POSTED ON THE COLLEGE'S PORTAL FOR THE FULL BOARD'S REVIEW PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED ANNUALLY. IN THE CASE OF THE BOARD AND SENIOR STAFF, INCLUDING THE PRESIDENT, THE GOVERNANCE COMMITTEE DEVELOPED A FORM WHICH IS SCHEDULED TO BE COMPLETED ANNUALLY. LANGUAGE ON THE FORMS WAS MODIFIED IN 2010 TO BETTER REFLECT IRS FORM 990 DEFINITIONS / REQUIREMENTS. COMPLETED TRUSTEE FORMS ARE REVIEWED BY THE EXECUTIVE ASSISTANT TO THE PRESIDENT AND MEMBERS OF THE GOVERNANCE COMMITTEE. MEMBERS OF THE GOVERNANCE COMMITTEE NOTE ANY RESPONSES THAT REQUIRE ATTENTION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE PRESIDENT AND VPS IS REVIEWED ANNUALLY BY THE COMPENSATION SUBCOMMITTEE OF THE BOARD TO ENSURE THAT COMPENSATION DOES NOT EXCEED FAIR MARKET VALUE. EXTERNAL BENCHMARK DATA FROM CUPA-HR IS SHARED AS A PART OF THIS REVIEW. THE COMPENSATION SUBCOMMITTEE MAKES THE DETERMINATION AND THE PROCESS IS NOTED IN MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE AT 101 NORTH COLLEGE AVENUE UPON REQUEST. FORM 990, PART VI, LINE 1 THE EXECUTIVE COMMITTEE IS COMPRISED OF OFFICERS OF THE BOARD, CHAIRS OF STANDING COMMITTEES, AND UP TO FOUR ADDITIONAL TRUSTEES AS APPOINTED BY THE CHAIR OF THE BOARD. ALL MEMBERS OF THE EXECUTIVE COMMITTEE MUST BE VOTING MEMBERS OF THE BOARD OF TRUSTEES. THE BYLAWS OF THE BOARD OF TRUSTEES STIPULATE THAT THE EXECUTIVE COMMITTEE HAS, AND MAY EXERCISE ALL POWERS OF THE BOARD OF TRUSTEES IN THE TRANSACTION OF THE BUSINESS OF THE COLLEGE BETWEEN MEETINGS OF THE BOARD. UNLESS SPECIFICALLY EMPOWERED BY THE BOARD, THE EXECUTIVE COMMITTEE MAY NOT TAKE ANY ACTION INCONSISTENT WITH A PRIOR ACT OF THE BOARD OF TRUSTEES, AWARD DEGREES, ALTER BYLAWS, LOCATE PERMANENT BUILDINGS IN TAX-EXEMPT PROPERTY HELD FOR COLLEGE PURPOSES, PURCHASE OR SELL, MORTGAGE OR LEASE OR OTHERWISE ACQUIRE OR DISPOSE OF REAL PROPERTY, REMOVE OR APPOINT THE PRESIDENT OF THE COLLEGE, ADOPT THE ANNUAL BUDGET, ELECT TRUSTEES OR BOARD OFFICERS, OR TAKE ANY OTHER ACTION THAT HAS BEEN RESERVED BY OR FOR THE BOARD. FORM 990, PART VII THE FOLLOWING TRUSTEES ARE ALSO ON THE FACULTY OF LEBANON VALLEY COLLEGE WORKING EITHER FULLTIME, AS PART-TIME ADJUNCT PROFESSOR, OR STUDENT EMPLOYEES WORKING DURING THE ACADEMIC YEAR. COMPENSATION REPORTED ON PART VII RELATES TO THEIR EMPLOYMENT POSITIONS: - PHILIP BENESCH - JEFFREY RITCHIE - KENNETH YARNALL - SETH MENDELSOHN - JEFFREY BATES - VIDYA LALA - KATHRYN ORIEL - REBECCA WHALEN FORM 990, PART XI, LINE 9: CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE POLICY 6,498. FORM 990, PART VI, LINE 14: SEPARATE RETENTION POLICIES ARE MAINTAINED AT THE DEPARTMENT/DIVISIONAL LEVELS. IT IS THE COLLEGE'S GOAL TO CONSOLIDATE THESE POLICIES AND DEVELOP AN INSTITUTIONAL WIDE RETENTION POLICY. VALE LLC 101 NORTH COLLEGE AVENUE ANNVILLE PA 170030501 463835416 MUSIC PRODUCTION PA 3416 2052 LEBANON VALLEY COLLEGE LEBANON VALLEY COLLEGE PHYSICAL THERAPY & SPORTS REHAB CLINIC 101 NORTH COLLEGE AVENUE ANNVILLE PA 170030501 464917810 PHYSICAL THERAPY AND SPORTS REHABILIATION PA 181339 177353 LEBANON VALLEY COLLEGE