2016-05-16T15:02:23-05:00 2015-06-30 540504608 BROWN EDWARDS & COMPANY LLP 2102 LANGHORNE ROAD SUITE 200 LYNCHBURG VA 245011121 990 2014-07-01 540505941 RANDOLPH COLLEGE RAND 4349478000 2500 RIVERMONT AVENUE LYNCHBURG VA 24503 JAMES MANARO TREASURER/VP OF FINANCE 4349478346 2016-05-11 1 RYAN MCENTIRE P00236022 4349489000 2014 2016-08-17 19:52:53Z BRADLEY W BATEMAN 2500 RIVERMONT AVENUE LYNCHBURG VA 24503 45253127 0 X WWW.RANDOLPHCOLLEGE.EDU X 1891 VA INSTRUCTION (LIBERAL ARTS HIGHER EDUCATION) - SEE PAGE 2 FOR COMPLETE DESCRIPTION 25 25 847 5 0 0 6050907 8422800 28166551 29502462 28015053 7321453 0 0 62232511 45246715 12675485 13420666 0 0 747557 688911 0 0 1103982 28531067 28446545 41954109 42556122 20278402 2690593 237107112 233685220 28070818 28771895 209036294 204913325 SEE DETAILED DESCRIPTION OF ORGANIZATION'S PRIMARY MISSION PROVIDED ON SCHEDULE O 0 0 36295774 13420666 35709206 INSTRUCTION: 673 FULL-TIME UNDERGRADUATE AND GRADUATE STUDENTS AND 20 PART-TIME STUDENTS (BASED ON FALL 2014 ENROLLMENT) 0 0 0 36295774 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 1 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 X 128 0 1 847 1 0 1 UK 0 0 0 0 1 1 0 0 1 1 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 VA X JAMES V MANARO 4349478346 2500 RIVERMONT AVENUE LYNCHBURG VA 24503 CARA SMITH BARNES TRUSTEE 2.00 X 0 0 0 KAREN E CAMPBELL TRUSTEE, VICE-CHAIR 2.00 X X 0 0 0 PETER H DEAN TRUSTEE 2.00 X 0 0 0 REBECCA MORRISON DUNN TRUSTEE, CHAIR 2.00 X X 0 0 0 JULIE HUSTON ELLIS TRUSTEE 2.00 X 0 0 0 KEITH J EVANS TRUSTEE 2.00 X 0 0 0 SUSAN BRASELTON FANT TRUSTEE 2.00 X 0 0 0 SUSAN L GENOVESE TRUSTEE 2.00 X 0 0 0 DONALD M GILES TRUSTEE 2.00 X 0 0 0 KATHRYN HEATH GRAVES TRUSTEE 2.00 X 0 0 0 CATHY HAVENER GREER TRUSTEE 2.00 X 0 0 0 CAROL J HALEY TRUSTEE 2.00 X 0 0 0 HYLAN T HUBBARD TRUSTEE 2.00 X 0 0 0 ELIZABETH EARLE KOJAIAN TRUSTEE 2.00 X 0 0 0 MARIAN PHILLIPS MANCINI TRUSTEE 2.00 X 0 0 0 BARBARA NIEDLAND MCCARTHY TRUSTEE 2.00 X 0 0 0 ALLISON GULICK MULLER TRUSTEE 2.00 X 0 0 0 KAREN K PATTERSON TRUSTEE 2.00 X 0 0 0 CHARLES W PRYOR JR TRUSTEE 2.00 X 0 0 0 MARY MICHELS SCOVANNER TRUSTEE 2.00 X 0 0 0 MARY GRAY SHOCKEY TRUSTEE 2.00 X 0 0 0 CAROLINE A STEPHENS TRUSTEE 2.00 X 0 0 0 DAVID H STREET TRUSTEE 2.00 X 0 0 0 ALISON KELLER TOWNSEND TRUSTEE 2.00 X 0 0 0 ANNE W TUCKER TRUSTEE 2.00 X 0 0 0 BRADLEY W BATEMAN COLLEGE PRESIDENT 40.00 X 314950 0 45904 JAMES V MANARO TREASURER/VP OF FINANCE 40.00 X 182158 0 34426 WESLEY R FUGATE SECRETARY/VP AND CHIEF OF 40.00 X 99891 0 21511 JAN Y MERIWETHER VP INSTITUTIONAL ADVANCEME 40.00 X 174256 0 29861 CARL A GIRELLI VP ACADEMIC AFFAIRS/DEAN O 40.00 X 140315 0 30325 MICHAEL J QUINN VP ENROLLMENT MANAGEMENT 40.00 X 112576 0 31123 MATHA E THORNTON VP STUDENT AFFAIRS/DEAN OF 40.00 X 111164 0 23265 VICTOR GOSNELL CHIEF TECHNOLOGY OFFICER 40.00 X 101032 0 29322 1236342 0 245737 7 0 1 0 ARAMARK 2500 RIVERMONT AVE LYNCHBURG VA 24503 DINING & CATERING 1861812 BIG A DISTRIBUTORS PO BOX 870069 MORROW GA 30287 CONSTRUCTION 555182 SECURITAS SECURITY SERVICES USA INC PO BOX 403412 ATLANTA GA 303843412 SECURITY 348160 DOMINION SEVEN ARCHITECTS 1000 JEFFERSON STREET LYNCHBURG VA 24504 ARCHITECTURAL 315729 SOUTHERN AIR INC PO BOX 4205 LYNCHBURG VA 24502 HVAC 254677 12 X 327357 8095443 399905 8422800 TUITION AND FEES 611710 22167345 22167345 AUXILIARY SERVICES 611710 6588741 6588741 OTHER 611710 746376 746376 29502462 1114709 1114709 2004801 4208355 0 6412 2004801 4201943 6206744 6206744 45246715 35709206 0 1114709 X 13105182 13105182 315484 315484 688911 688911 INSTRUCTION 9975570 9975570 STUDENT SERVICES 5713745 5713745 INSTITUTIONAL SUPPORT 5571437 4467455 1103982 AUXILIARY SERVICES 4271895 4271895 2913898 2913898 42556122 36295774 5156366 1103982 2755662 1759151 4324418 7551783 6307882 4459671 275492 290670 1686848 1402487 99665882 47586519 47456098 52079363 173421395 165112924 879317 1029171 237107112 233685220 1754339 2467828 20370804 18963713 0 1398271 5945675 5942083 28070818 28771895 X 81837370 84333848 43854196 37232599 83344728 83346878 209036294 204913325 237107112 233685220 X 2690593 -6684173 -129389 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3110473 X X X X X INSTRUCTION 0 164403755 2424532 2531050 3772355 6756580 1911000 156919402 133072541 941899 43568863 3673230 6854318 2652000 164403755 132392104 1764107 13345981 3634205 8446446 2349000 133072541 146270420 -146106 -2534065 3824704 5847441 1526000 132392104 134963965 779512 22353417 3777440 5815034 2234000 146270420 0.34000 0.50000 0.16000 0 0 695554 695554 64285127 26961803 37323324 25015442 19764499 5250943 9669759 860217 8809542 52079363 EQUITIES 68830398 F ALTERNATIVE INVESTMENTS 55510405 F BONDS 27870505 F CASH AND CASH EQUIVALENTS 9786188 F REAL ESTATE 47563 F FUNDS HELD IN TRUST BY OTHERS 3067865 F 165112924 ACCRUED INTEREST PAYABLE 34799 STUDENT DEPOSITS AND OTHER DEFERRED REVENUE 730619 POST-RETIREMENT HEALTHCARE BENEFIT OBLIGATION 579925 U.S. GOVERNMENT GRANTS REFUNDABLE 629190 TRUST AND ANNUITY OBLIGATIONS 2038064 ASSET RETIREMENT OBLIGATION ASB 1929486 5942083 X 25012487 -6684173 -129389 -6813562 31826049 13420666 13420666 45246715 29135456 0 29135456 13420666 13420666 42556122 PART III, LINE 4: THE COLLEGE HAS AN IMPORTANT AMERICAN ART COLLECTION WHICH HAS BEEN ASSEMBLED OVER A PERIOD OF MORE THAN 100 YEARS, THROUGH DIRECT ACQUISITIONS BY THE COLLEGE AS WELL AS DONATIONS. THE PURPOSE OF THE COLLECTION, FROM ITS INCEPTION, HAS BEEN TO ACQUIRE ORIGINAL ART, GENERALLY CONTEMPORARY ART, OF THE HIGHEST QUALITY WHICH IS USED IN SUPPORT OF THE COLLEGE'S EDUCATIONAL MISSION. THIS INCLUDES STUDY AND ANALYSIS OF ARTISTIC TECHNIQUES, IMAGERY AND SUBJECT MATTER, AS WELL AS INSTRUCTION IN HISTORICAL, SCIENTIFIC (BOTH PHYSICAL SCIENCES AND SOCIAL SCIENCES), MUSEUM STUDIES, AND OTHER ACADEMIC DISCIPLINES. ORIGINALLY DISPLAYED THROUGHOUT THE CAMPUS, MOST OF THE COLLECTION IS NOW HELD UNDER CURATORIAL CARE AND SUPERVISION IN A SEPARATE BUILDING THAT IS USED AS AN ART GALLERY, EXHIBITION SPACE AND A LOCATION FOR MUSEUM AND OTHER EDUCATIONAL STUDIES. PART V, LINE 4: THE COLLEGE HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. ENDOWMENT ASSETS INCLUDE THOSE OF DONOR-RESTRICTED FUNDS AND BOARD-DESIGNATED FUNDS. THE FUNDS ARE USED ACCORDING TO DONOR INTENT AND BOARD DESIGNATION TO PROVIDE SUPPORT FOR SCHOLARSHIPS, SALARIES, INSTRUCTION AND RESEARCH, LIBRARY RESOURCES, PRIZES, PHYSICAL PLANT, AND LECTURESHIPS. PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS RULED THAT THE COLLEGE QUALIFIES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND, THEREFORE, IS NOT GENERALLY SUBJECT TO INCOME TAXES UNDER PRESENT TAX LAWS. MANAGEMENT BELIEVES THAT ANY INCOME TAX LIABILITY RESULTING FROM UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2015 AND 2014 WOULD NOT HAVE A SIGNIFICANT IMPACT ON THE COLLEGE'S RESULTS OF ACTIVITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: LOSS ON ASSET RETIREMENT OBLIGATION -86,674. LOSS ON DISPOSAL OF LAND, BUILDINGS, AND EQUIPMENT -80,633. CHANGE IN INTEREST RATE SWAP LIABILITY 37,918. SERIES 2003 BOND REFINANCING COSTS PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT SCHOLARSHIPS/FINANCIAL AID 13,420,666. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT SCHOLARSHIPS/FINANCIAL AID 13,420,666. 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 PUBLISHES ITS NONDISCRIMINATORY POLICY IN ALL ADMISSIONS MATERIALS TO PROSPECTIVE STUDENTS AND ON ITS WEB SITE. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES GOVERNMENT ASSISTANCE FOR FINANCIAL AID AND OTHER PURPOSES, INCLUDING FEDERAL WORK STUDY (FWS), FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS (FSEOG), AND OTHER FEDERAL GRANTS. 1 READING, ENGLAND 1 4 PROGRAM SERVICES INSTRUCTION 391240 1 4 0 0 1 4 391240 0 391240 FINANCIAL AID EUROPE 23 315484 INTERNAL TRANSFER TO APPLY FINANCIAL AID TO STUDENTS' ACCOUNTS RECEIVABLE 0 0 0 0 0 0 0 PART I, LINE 3: ACCOUNTING METHOD - ACCRUAL PART III: ACCOUNTING METHOD - ACCRUAL 1 SCHOLARSHIPS TO STUDENTS 664 13105182 FMV PART I, LINE 2: THE COLLEGE MAINTAINS RECORDS TO ENSURE STUDENT FINANCIAL AID IS AWARDED TO ELIGIBLE STUDENTS BASED ON FEDERAL REGULATIONS OR DONOR RESTRICTIONS. THE COLLEGE AWARDS GRANTS TO STUDENTS BASED ON CRITERIA SET FORTH IN THE INDIVIDUAL SCHOLARSHIPS. "NEED BASED" FEDERAL GRANTS ARE AWARDED BASED ON INFORMATION OBTAINED FROM THE FREE APPLICATION FOR FEDERAL AID (FASFA). X X 1 1 X X X X X X 0 0 0 0 0 0 0 0 0 BRADLEY W BATEMAN COLLEGE PRESIDENT 282559 0 25000 0 7391 0 0 0 45904 0 360854 0 0 0 JAMES V MANARO TREASURER/VP OF FINANCE 162158 0 20000 0 0 0 0 0 34426 0 216584 0 0 0 JAN Y MERIWETHER VP INSTITUTIONAL ADVANCEME 149256 0 25000 0 0 0 0 0 29861 0 204117 0 0 0 CARL A GIRELLI VP ACADEMIC AFFAIRS/DEAN O 140315 0 0 0 0 0 0 0 30325 0 170640 0 0 0 A EDA OF CITY OF LYNCHBURG SERIES 2010 541225193 2013-12-03 7086690 REISSUE OF BONDS WHICH REFUNDED PRIOR BOND ISSUANCE 0 0 0 B EDA OF AMHERST COUNTY SERIES 2010 830477842 2013-11-15 5028228 REISSUE OF BONDS WHICH REFINANCED AN ANTIC. NOTE 0 0 0 C IDA OF COUNTY OF CAMPBELL SERIES 2013 521309406 2013-12-19 8547000 REFUNDED PRIOR BOND ISSUANCE AND FINANCED CAP. EXPENDITURES 0 0 0 A 222000 7086690 7086690 2010 1 0 1 1 B 300205 5028228 5028228 2010 1 0 1 1 C 1176000 8547000 84345 721005 7741650 2014 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 0 1 1 0 1 0 0 0 1 B 0 1 1 0 1 0 0 0 1 C 0 1 0 0 1 1 BB&T 9.750000000000 0 0 0 0 1 A 1 B 1 C 1 PART 1, LINE A, COLUMN (D) THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF LYNCHBURG, VIRGINIA'S TAX EXEMPT REVENUE BOND (RANDOLPH COLLEGE PROJECTS), SERIES 2010 (THE "2010 LYNCHBURG BOND") WERE ORIGINALLY ISSUED ON JANUARY 28, 2010. ON DECEMBER 3, 2013 (THE "REISSUANCE DATE"), THE 2010 LYNCHBURG BOND WAS DEEMED REISSUED FOR FEDERAL TAX PURPOSES UNDER SECTION 1001 OF THE INTERNAL REVENUE CODE. PART 1, LINE A, COLUMN (F) THE PAR AMOUNT OF THE 2010 LYNCHBURG BOND WAS DEEMED SPENT ON THE REISSUANCE DATE TO REFUND THE 2010 LYNCHBURG BOND THAT WAS OUTSTANDING ON THAT DATE. THE 2010 LYNCHBURG BOND WAS ORIGINALLY ISSUED TO REFUND THE OUTSTANDING PRINCIPAL AMOUNT OF THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF LYNCHBURG, VIRGINIA'S VARIABLE RATE EDUCATIONAL FACILITIES REVENUE BONDS (RANDOLPH-MACON WOMAN'S COLLEGE PROJECT), SERIES 2000 (THE "SERIES 2000 BONDS") AND TO FINANCE COSTS OF ISSUING THE 2010 LYNCHBURG BOND. THE PROCEEDS OF THE SERIES 2000 BOND WERE USED TO FINANCE CERTAIN CAPITAL IMPROVEMENTS AT RANDOLPH COLLEGE'S (THE "BORROWER") FACILITIES, PRIMARILY CONSISTING OF VARIOUS ACADEMIC AND ADMINISTRATIVE FACILITIES AND TO FINANCE COSTS OF ISSUING THE SERIES 2000 BOND. PART II, COLUMN A, LINE 3 THIS AMOUNT REPRESENTS THE PAR AMOUNT OF THE REISSUED 2010 LYNCHBURG BOND, WHICH WAS DEEMED SPENT ON THE REISSUANCE DATE TO REFUND THE 2010 LYNCHBURG BOND THAT WAS OUTSTANDING ON THAT DATE. SEE NOTE RELATED TO PART I, LINE A, COLUMN (F). PART II, COLUMN A, LINE 11 THIS AMOUNT REPRESENTS THE PAR AMOUNT OF THE REISSUED 2010 LYNCHBURG BOND, WHICH WAS DEEMED SPENT ON THE REISSUANCE DATE TO REFUND THE 2010 LYNCHBURG BOND THAT WAS OUTSTANDING ON THAT DATE. SEE NOTE RELATED TO PART I, LINE A, COLUMN (F). PART I, LINE B, COLUMN (D) THE ECONOMIC DEVELOPMENT AUTHORITY OF AMHERST COUNTY, VIRGINIA'S TAX EXEMPT REVENUE BOND (RANDOLPH COLLEGE PROJECTS), SERIES 2010 (THE "2010 AMHERST BOND") WERE ORIGINALLY ISSUED ON JANUARY 28, 2010. ON NOVEMBER 15, 2013 (THE "REISSUANCE DATE"), THE 2010 AMHERST BOND WAS DEEMED REISSUED FOR FEDERAL TAX PURPOSES UNDER SECTION 1001 OF THE INTERNAL REVENUE CODE. PART I, LINE B, COLUMN (F) THE PAR AMOUNT OF THE 2010 AMHERST BOND WAS DEEMED SPENT ON THE REISSUANCE DATE TO REFUND THE 2010 AMHERST BOND THAT WAS OUTSTANDING ON THAT DATE. THE 2010 AMHERST BOND WAS ORIGINALLY ISSUED TO REFUND THE OUTSTANDING PRINCIPAL AMOUNT OF THE ECONOMIC DEVELOPMENT AUTHORITY OF AMHERST COUNTY, VIRGINIA'S REVENUE BOND (RANDOLPH COLLEGE), SERIES 2008 (THE "SERIES 2008 BOND") AND TO FINANCE COSTS OF ISSUING THE 2010 AMHERST BOND. THE PROCEEDS OF THE SERIES 2008 BOND WERE USED TO FINANCE CERTAIN CAPITAL IMPROVEMENTS AT THE BORROWER'S FACILITIES, PRIMARILY CONSISTING OF EXPANSION OF THE EXISTING ATHLETIC FACILITIES AND ROUTINE CAPITAL IMPROVEMENTS AND TO FINANCE COSTS OF ISSUING THE SERIES 2008 BOND. PART II, COLUMN B, LINE 3 THIS AMOUNT REPRESENTS THE PAR AMOUNT OF THE REISSUED 2010 AMHERST BOND, WHICH WAS DEEMED SPENT ON THE REISSUANCE DATE TO REFUND THE 2010 AMHERST BOND THAT WAS OUTSTANDING ON THAT DATE. SEE NOTE RELATED TO PART I, LINE B, COLUMN (F). PART II, COLUMN B, LINE 11 THIS AMOUNT REPRESENTS THE PAR AMOUNT OF THE REISSUED 2010 AMHERST BOND, WHICH WAS DEEMED SPENT ON THE REISSUANCE DATE TO REFUND THE 2010 AMHERST BOND THAT WAS OUTSTANDING ON THAT DATE. SEE NOTE RELATED TO PART I, LINE B, COLUMN (F). X 42 306039 COST OR SELLING PRICE X HORSES 2 70000 OPINION OF EXPERTS X BIRD COLLECTION 1 21154 OPINION OF EXPERTS X ETIENE SADDLE 1 2712 OPINION OF EXPERTS 2 0 1 1 PART I, LINE 32B: AS OF JUNE 30, 2015, THE COLLEGE HAS SOLD THE TWO PAINTINGS HELD FOR SALE UNDER AN ARRANGEMENT WITH CHRISTIE'S AUCTION HOUSE. IN ADDITION, THE COLLEGE INFREQUENTLY RECEIVES JEWELRY AS PART OF AN ESTATE GIFT. IN SUCH ISOLATED CIRCUMSTANCES, THE COLLEGE HAS UTILIZED A LOCAL JEWELRY COMPANY OR AN AUCTIONEER TO SELL THESE ITEMS. FORM 990, PART III, LINE 1 SINCE ITS FOUNDING IN 1891 AS RANDOLPH-MACON WOMAN'S COLLEGE, RANDOLPH COLLEGE HAS OFFERED STUDENTS A RIGOROUS EDUCATION IN THE LIBERAL ARTS AND SCIENCES. IN KEEPING WITH ITS MOTTO, VITA ABUNDANTIOR, RANDOLPH COLLEGE PREPARES STUDENTS TO ENGAGE THE WORLD CRITICALLY AND CREATIVELY, LIVE AND WORK HONORABLY, AND EXPERIENCE LIFE ABUNDANTLY. RANDOLPH COLLEGE ENCOURAGES EACH STUDENT TO SET AND MEET HIGH PERSONAL GOALS. CAMPUS LIFE IS GROUNDED IN THE HONOR SYSTEM, WHICH FOSTERS INDIVIDUAL INTEGRITY AND MUTUAL TRUST. AS STUDENTS FROM DIVERSE BACKGROUNDS STUDY AND LIVE TOGETHER, THEY ARE EXPECTED TO RESPECT THE RIGHTS AND DIGNITY OF OTHERS, TO BE OPEN TO CULTURAL DIFFERENCES, AND TO EXERCISE PERSONAL AND SOCIAL RESPONSIBILITY. THEY ARE ENCOURAGED TO DEVELOP CONFIDENCE AND TO PARTICIPATE FULLY IN A COMMUNITY IN WHICH WOMEN AND MEN WORK TOGETHER AND TREAT ONE ANOTHER AS EQUALS. THROUGH EXCELLENCE IN TEACHING, ADVISING, AND SCHOLARSHIP, THE FACULTY PROVIDES THE CHALLENGES REQUISITE TO THE INTELLECTUAL DEVELOPMENT OF EACH STUDENT. WITH FACULTY SUPPORT, THE UNDERGRADUATE STUDENTS DESIGN INDIVIDUALIZED AND COHERENT PROGRAMS OF STUDY THAT COMBINE ACADEMIC AND CO-CURRICULAR COMPONENTS. WHILE EACH STUDENT'S EDUCATIONAL PLAN IS UNIQUE, ALL PROGRAMS OF STUDY FOSTER THESE CAPACITIES: TO THINK CRITICALLY; TO WRITE AND SPEAK WITH CLARITY AND ACCURACY; TO EMPLOY QUANTITATIVE REASONING; TO USE TECHNOLOGY EFFECTIVELY AND ETHICALLY; TO CULTIVATE AN AESTHETIC SENSIBILITY; TO UNDERSTAND KEY DIMENSIONS OF THE HERITAGE OF MORE THAN ONE SOCIETY; TO APPROACH PROBLEMS WITH CREATIVITY AND IMAGINATION; TO WORK BOTH INDEPENDENTLY AND COLLABORATIVELY; AND TO RECOGNIZE THE POWER AND LIMITATIONS OF KNOWLEDGE. THE GRADUATE STUDENTS PURSUE MORE NARROWLY FOCUSED PROGRAMS OF RIGOROUS STUDY DESIGNED TO ADD SPECIALIZED KNOWLEDGE TO THEIR UNDERGRADUATE EDUCATION. THE GRADUATE PROGRAMS ARE DIRECTED BY FACULTY MEMBERS WHO ARE ESPECIALLY KNOWLEDGEABLE ABOUT THE PROFESSIONAL STANDARDS TO BE MET BY THOSE WHO EARN ADVANCED DEGREES. THROUGH THEIR EXPERIENCES AT RANDOLPH COLLEGE, STUDENTS ARE CHALLENGED TO THINK AMBITIOUSLY AND TO PREPARE THOUGHTFULLY FOR THEIR FUTURES IN A DIVERSE SOCIETY AND AN INCREASINGLY COMPLEX WORLD THAT OFFERS THEM EXPANDING OPPORTUNITIES FOR LEADERSHIP, RESPONSIBILITY, AND SERVICE. FORM 990, PART V, QUESTIONS 7G AND 7H THE COLLEGE DID NOT RECEIVE CONTRIBUTIONS OF QUALIFIED INTELLECTUAL PROPERTY DURING THE TAX YEAR. THEREFORE, THERE WAS NO FORM 8899 REQUIRED. ADDITIONALLY, THE COLLEGE DID NOT RECEIVE ANY CONTRIBUTION OF PROPERTY THAT WOULD REQUIRE THE COLLEGE TO FILE FORM 1098-C. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WAS REVIEWED BY THE CONTROLLER, DIRECTOR OF FINANCE AND BUDGET AND V.P. FOR FINANCE AND ADMINISTRATION. ALSO, THE FORM 990 WAS PROVIDED TO THE COLLEGE'S BOARD OF TRUSTEES FOR ITS REVIEW AND QUESTIONS AT THE MAY 2016 BOARD MEETING. IN CONSIDERATION OF THE PRIVACY OF OUR DONORS, SCHEDULE B, "SCHEDULE OF CONTRIBUTORS" WAS OMITTED FROM THE 990 COPIES WHICH WERE PROVIDED TO THE GOVERNING BODY FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS, OFFICERS, ALL SENIOR STAFF MEMBERS, THE DIRECTOR OF FINANCE AND BUDGET, AND THE CONTROLLER REVIEW, COMPLETE, AND SIGN CONFLICT OF INTEREST FORMS ANNUALLY. THE SECRETARY OF THE BOARD MAINTAINS THESE DOCUMENTS. VOTING MEMBERS OF THE BOARD RECUSE THEMSELVES FROM A VOTE IF A POTENTIAL CONFLICT OF INTEREST EXISTS IN A MATTER. IF THERE IS A QUESTION ABOUT THE EXISTENCE OF A CONFLICT OF INTEREST, THE BYLAWS (ARTICLE 1, SECTION 8D) PROVIDE STANDARDS AND PROCEDURES FOR RESOLVING THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION OF OFFICERS/KEY EMPLOYEES: FOR ALL MEMBERS OF THE COLLEGE'S SENIOR STAFF AND THE PRESIDENT'S DIRECT REPORTS, THE DIRECTOR OF HUMAN RESOURCES PROVIDES COMPARATIVE COMPENSATION DATA FROM THE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION (CUPA) TO THE PRESIDENT. THE PRESIDENT SHARES THIS INFORMATION WITH THE CHAIR OF THE BOARD OF TRUSTEES AND THE COMPENSATION COMMITTEE, AS NEEDED. THIS INFORMATION IS REVIEWED DURING THE PERFORMANCE ASSESSMENT PROCESS TO DETERMINE SUCH EMPLOYEE'S COMPENSATION. THE BOARD OF TRUSTEES HAS ESTABLISHED IN THE COLLEGE'S BYLAWS A COMPENSATION COMMITTEE, INCLUDING THE CHAIR OF THE BOARD AND OTHER TRUSTEES. THIS COMMITTEE RECOMMENDS ANY COMPENSATION ADJUSTMENTS FOR THE PRESIDENT TO THE EXECUTIVE COMMITTEE OF THE BOARD AND THE RATIONALE THEREIN, AND ANY SUCH COMPENSATION ADJUSTMENTS ARE THEN APPROVED BY THE FULL BOARD. THE COLLEGE'S BOARD OF TRUSTEES (THE "BOARD") HIRED MERCER HUMAN RESOURCES CONSULTING ("MERCER") IN 2013 TO ASSIST IN DETERMINING THE REASONABLENESS OF THE INITIAL COMPENSATION FOR THE COLLEGE PRESIDENT. USING APPROPRIATE PEER GROUP AND COMPARATIVE MARKET DATA, MERCER ISSUED AN OPINION AFFIRMING THE REASONABLENESS OF THE COMPENSATION PACKAGE. THE ANALYSIS WAS COMPREHENSIVE, UTILIZING MANY SOURCES, INCLUDING THE FORM 990 OF OTHER INSTITUTIONS. THE PRESIDENT ALSO HAS A WRITTEN EMPLOYMENT CONTRACT WHICH INCLUDES THE NECESSARY COMPENSATION PROVISIONS. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE IS A PRIVATE INSTITUTION AND DOES NOT REGULARLY MAKE ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART VIII, LINES 7A TO 7D GAIN ON SALE OF SECURITIES AND PROCEEDS RECEIVED FOR SALE OF ARTWORK - DETAIL AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 24E "ALL OTHER EXPENSES" CONSISTS SOLELY OF ACADEMIC SUPPORT, IN THE AMOUNT OF $2,913,898. FORM 990, PART XI, LINE 9: LOSS ON ASSET RETIREMENT OBLIGATION -86,674. LOSS ON DISPOSAL OF LAND, BUILDINGS, AND EQUIPMENT -80,633. CHANGE IN INTEREST RATE SWAP LIABILITY 37,918. SCHEDULE M, PART I, LINE 26: BIRD COLLECTION WAS DONATED. THIS IS A RESEARCH COLLECTION OF 283 TAXIDERMY PREPARED BIRD SKINS FROM THE EARLY TWENTIETH CENTURY. THE VALUE WAS ESTABLISHED BY USING TAXIDERMY COSTS PER BIRD OF $65. BECAUSE THE COLLECTION IS EARLY TWENTIETH CENTURY AND FROM A FAMOUS WILDLIFE ARTIST, A PREMIUM OF 15% WAS ADDED TO THE VALUE. THE COLLECTION CANNOT BE SOLD BECAUSE THE MAJORITY OF THE BIRDS IN THIS COLLECTION FALL UNDER THE MIGRATORY BIRD TREATY ACT AND THE ENDANGERED SPECIES ACT. INVESTMENT PROPERTIES OF LYNCHBURG LLC 2500 RIVERMONT AVENUE LYNCHBURG VA 24503 541900543 COMMERCIAL REAL ESTATE VA 30000 691587 N/A RMWC ALUMNAE AND RC ALUMNI ASSOC 2500 RIVERMONT AVENUE LYNCHBURG VA 24503 540350944 ALUMNAE(I) CONNECTIONS VA 501(C)(3) 11A-TYPE 1 N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 RMWC ALUMNAE AND RC ALUMNI ASSOCIATION C 600 FINANCIAL REPORT RMWC ALUMNAE AND RC ALUMNI ASSOCIATION N 47142 FINANCIAL REPORT RMWC ALUMNAE AND RC ALUMNI ASSOCIATION O 202579 FINANCIAL REPORT RMWC ALUMNAE AND RC ALUMNI ASSOCIATION P 339571 FINANCIAL REPORT RMWC ALUMNAE AND RC ALUMNI ASSOCIATION Q 34 FINANCIAL REPORT