2015-05-11T10:25:42-05:00 2014-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 1650 MARKET STREET SUITE 4500 PHILADELPHIA PA 19103 990 2013-07-01 240795965 LYCOMING COLLEGE LYCO 5703214000 700 COLLEGE PLACE WILLIAMSPORT PA 17701 JEFFREY L BENNETT CPA VP FINANCE & ADMIN CFO/TREASURER 5703214000 2015-05-11 1 JULIUS C GREEN CPA JD P00350393 2159720701 2013 2016-02-25 16:41:14Z JEFFREY L BENNETT CPA 700 COLLEGE PLACE WILLIAMSPORT PA 17701 135015580 0 X WWW.LYCOMING.EDU X 1947 PA TO PROVIDE A DISTINGUISHED BACCALAUREATE EDUCATION IN THE LIBERAL ARTS AND SCIENCES. 34 31 1240 79 393475 -82312 4991634 5342482 53860581 54199977 6130007 9577500 763254 1441838 65745476 70561797 22640746 23911079 0 0 18177408 18947995 0 0 1244850 15378893 16864815 56197047 59723889 9548429 10837908 234143842 282168604 36459013 56400528 197684829 225768076 X THE MISSION OF LYCOMING COLLEGE IS TO PROVIDE A DISTINGUISHED BACCALAUREATE EDUCATION IN THE LIBERAL ARTS AND SCIENCES WITHIN A COEDUCATIONAL, SUPPORTIVE, RESIDENTIAL SETTING. 0 0 49481285 23911079 54265006 LYCOMING COLLEGE IS A FOUR-YEAR LIBERAL ARTS BASED, CO-EDUCATIONAL, INDEPENDENT COLLEGE WHOSE PRIMARY FUNCTION IS THE PRESENTATION OF FORMAL INSTRUCTION. THE COLLEGE HAS A REGULAR FACULTY, A REGULARLY SCHEDULED CURRICULUM (CONSISTING OF FALL, SPRING, MAY AND SUMMER TERMS), AND A REGULARLY ENROLLED STUDENT BODY IN ATTENDANCE AT ITS CAMPUS LOCATED IN WILLIAMSPORT, PENNSYLVANIA. THE COLLEGE'S AREAS OF CONCENTRATION INCLUDE BACHELOR OF ARTS DEGREES IN 32 MAJOR FIELDS AND BACHELOR OF SCIENCE DEGREES IN 4 MAJOR FIELDS. PROGRAM SERVICES OF THE COLLEGE INCLUDE THE COST OF INSTRUCTION, ACADEMIC SUPPORT, STUDENT SERVICES, INSTITUTIONAL SUPPORT AND SCHOLARSHIPS. THE COST OF INSTRUCTION INCLUDES ALL EXPENSES CONTRIBUTING DIRECTLY TO THE PRESENTATION OF FORMAL INSTRUCTION FOR THE 36 AFOREMENTIONED MAJOR FIELDS. ACADEMIC SUPPORT IS ALL OF THE EXPENSES RELATED TO THOSE AREAS OF THE COLLEGE SUCH AS THE COLLEGE LIBRARY, COMPUTER CENTER, AND THE INSTITUTION FOR MANAGEMENT STUDIES. STUDENT SERVICES ARE ALL OF THE EXPENSES SPECIFICALLY RELATED TO PROVIDING "OUR CUSTOMER", THE STUDENT, WITH A COMPLETE COLLEGE EXPERIENCE. SUCH AREAS WOULD INCLUDE THE REGISTRAR, CAREER SERVICES, HEALTH SERVICES, RECREATION CENTER, ATHLETICS, COUNSELING SERVICES, ADMISSIONS, FINANCIAL AID, RELIGIOUS ACTIVITIES, OFFICE OF STUDENT PROGRAMS, AND THE DEAN OF STUDENTS. INSTITUTIONAL SUPPORT INCLUDES ALL EXPENSES OF MAINTAINING THE CAMPUS FACILITIES AND PROVIDING FOR ITS EMPLOYEES, SUCH AS BUILDINGS AND GROUNDS, SECURITY, OFFICE OF THE PRESIDENT, TREASURER'S OFFICE, HUMAN RESOURCES, MAIL SERVICES, COLLEGE RELATIONS, ETC.STUDENT FINANCIAL AID FROM INTERNAL SOURCES REPRESENTED APPROXIMATELY 56% OF GROSS TUITION AND FEE REVENUE. IN ADDITION TO SOURCES OF INTERNAL AND EXTERNAL FINANCIAL AID, AND THE LYCOMING GRANT PROGRAM (NEED-BASED), LYCOMING COLLEGE OFFERS NUMEROUS SCHOLARSHIPS TO ACADEMICALLY TALENTED STUDENTS. ALL ACADEMIC SCHOLARSHIPS ARE AUTOMATICALLY RENEWED IN THEIR ORIGINAL AMOUNT FOR THE FOLLOWING YEAR PROVIDED THE STUDENT MAINTAINS SATISFACTORY ACADEMIC PROGRESS AS DEFINED IN THE COLLEGE CATALOG. ENROLLMENT FOR THE 2013-2014 ACADEMIC YEAR WAS APPROXIMATELY 1,339 FULL-TIME EQUIVALENTS. 49481285 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 177 0 1 1240 1 1 1 1 CJ 0 0 0 0 0 0 0 0 X 34 31 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 PA X JEFFREY L BENNETT CPA 5703214031 700 COLLEGE PLACE WILLIAMSPORT PA 17701 PETER R LYNN CHAIRMAN 1.00 X X 0 0 0 STANLEY W SLOTER VICE CHAIRMAN 1.00 X X 0 0 0 D MARK FULTZ SECRETARY 1.00 X X 0 0 0 ANN S PEPPERMAN ESQ ASSISTANT SECRETARY 1.00 X X 0 0 0 LINDA POOR SWEENEY ASSISTANT SECRETARY 1.00 X X 0 0 0 JOHN R BIGGAR TRUSTEE 1.00 X 0 0 0 MELVIN H CAMPBELL JR TRUSTEE 1.00 X 0 0 0 JAY W CLEVELAND SR TRUSTEE 1.00 X 0 0 0 JAY W CLEVELAND JR TRUSTEE 1.00 X 0 0 0 DONALD E FAILOR TRUSTEE 1.00 X 0 0 0 DAVID D GATHMAN TRUSTEE 1.00 X 0 0 0 LAWRENCE S ALLISON JR TRUSTEE 1.00 X 0 0 0 DANIEL R HAWBAKER TRUSTEE 1.00 X 0 0 0 DR BRENDA P ALSTON-MILLS TRUSTEE 1.00 X 0 0 0 DR WILLIAM E EVANS TRUSTEE 1.00 X 0 0 0 DALE N KRAPF TRUSTEE 1.00 X 0 0 0 DANIEL R LANGDON TRUSTEE 1.00 X 0 0 0 DR ROBERT G LITTLE TRUSTEE 1.00 X 0 0 0 CAROLYN-KAY LUNDY TRUSTEE 1.00 X 0 0 0 DAVID L SCHOCH TRUSTEE 1.00 X 0 0 0 NANCI D MORRIS TRUSTEE 1.00 X 0 0 0 JAMES G SCOTT TRUSTEE 1.00 X 0 0 0 CHERYL D SPENCER TRUSTEE 1.00 X 0 0 0 JOHN S TROGNER JR TRUSTEE 1.00 X 0 0 0 MARSHALL D WELCH III TRUSTEE 1.00 X 0 0 0 DIANE D WOOSNAM TRUSTEE 1.00 X 0 0 0 DR DENNIS G YOUSHAW TRUSTEE 1.00 X 0 0 0 FRANK G PELLEGRINO TRUSTEE 1.00 X 0 0 0 HUGH H SIDES TRUSTEE 1.00 X 0 0 0 BARBARA LOVENDUSKI SYLK TRUSTEE 1.00 X 0 0 0 DAVID E FREET TRUSTEE 1.00 X 0 0 0 DONALD W HUGHES TRUSTEE 1.00 X 0 0 0 DR LYNN DARDEN KRAMER TRUSTEE 1.00 X 0 0 0 DR KENT C TRACHTE PRESIDENT 40.00 X X 142476 0 16811 DR JAMES E DOUTHAT PRESIDENT (UNTIL JUNE 2013) 40.00 X 287608 0 78806 JAMES D SPENCER VP ADMIN & FIN AID 40.00 X 157716 0 33033 DANIEL P MILLER VP STUDENT AFFAIRS 40.00 X 109778 0 14987 SUSAN S GAYLOR VP ADMIN/PLANNING (UNTIL JUNE 2013) 40.00 X 84963 0 11445 CHARLES W EDMONDS VP COLLEGE ADVANCEMENT 40.00 X 141545 0 21533 DR PHILIP W SPRUNGER PROVOST 40.00 X 155215 0 14786 DAVID B HEFFNER CHIEF INFO OFFICER 40.00 X 112927 0 18644 JEFFREY L BENNETT CPA VP FINANCE & ADMIN CFO/TREASURER 40.00 X 106123 0 10946 1298351 0 220991 8 0 1 0 PARKHURST DINING SERVICES 285 WATERFORD DRIVE NEW HOMESTEAD PA 15120 CONTRACTED FOOD SVCS 3413582 LUNDY CONSTRUCTION ARCH STREET AT REACH ROAD WILLIAMSPORT PA 17701 CONSTRUCTION SVCS 2109428 GLENN O HAWBAKER PO BOX 64289 BALTIMORE MD 212644289 CONSTRUCTION SVCS 378646 PRESTIGE COLOR INC 19 PRESTIGE LANE LANCASTER PA 17603 ONLINE LIBRARY DATABASE 320198 ELLUCIAN INC 62814 COLLECTIONS CENTER DR CHICAGO IL 60693 COMPUTER SVCS 292629 19 7500 555879 4779103 309553 5342482 TUITION & FEES 611710 42457624 42457624 AUXILIARY ENTERPRISES 611710 11742353 11742353 54199977 3513626 3513626 43468 36673 6795 6795 6795 69851054 874 63788054 0 6063000 874 6063874 6063874 683727 629056 54671 54671 INSURANCE PROCEEDS 900099 820249 820249 SUMMER CONFERENCE REV 611710 364642 364642 FACILITY USE REV 721000 28833 28833 166648 10358 156290 1380372 70561797 54265006 393475 10560834 23911079 23911079 1501151 507387 993764 12735748 10347294 1792669 595785 833781 680943 109208 43630 2957869 2045680 584441 327748 919446 738462 141030 39954 38557 38557 77484 77484 631956 631956 3420897 3000359 398920 21618 935204 710372 209267 15565 3633452 3272021 252567 108864 1942211 662408 1279803 743309 567802 116235 59272 1377116 1354080 23036 2771464 778977 1992487 572480 75568 496912 SPECIAL EVENTS 418770 71961 325015 21794 MEMBERSHIPS 106093 36368 65695 4030 DEBT SERVICE TRUSTEE FE 45478 45478 STAFF DEVELOPMENT 13369 4197 2912 6260 136975 84371 52274 330 59723889 49481285 8997754 1244850 724962 951074 586918 1035468 1680034 2350289 14905 41070 2619255 2345946 103012491 57321658 41777968 45690833 168188787 213122692 10544965 8470948 8006048 8160284 234143842 282168604 1079648 732447 24100000 44540000 30671 22815 11248694 11105266 36459013 56400528 X 150081872 169613186 15512701 21305685 32090256 34849205 197684829 225768076 234143842 282168604 X 10837908 17307079 -61740 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 167608000 5645000 26393000 435000 1118000 198093000 155223000 6016000 8042000 125400 1547600 167608000 152275000 5428000 -611000 180420 1688580 155223000 124797000 4280000 24760000 165500 1396500 152275000 100744000 18794000 7516000 74000 2183000 124797000 0.76000 0.24000 0 0 538185 6294523 6832708 68228278 35865679 32362599 20610240 16818269 3791971 7341265 4637710 2703555 45690833 ACCUM. POSTRETIRE BENEFIT OBLIGATION 29489 OTHER LIABILITIES 3520795 SPLIT-INTEREST AGREEMENTS 5043895 ADVANCE FROM FEDERAL GOVERNMENT FOR STUDENT LOANS 2601865 UNAMORTIZED BOND PREMIUM 189589 UNAMORTIZED BOND DISCOUNT -280367 11105266 X 64525113 17307079 -23972819 -6665740 71190853 -629056 -629056 70561797 36441866 629056 629056 35812810 23911079 23911079 59723889 PART III, LINE 4: THE COLLEGE ARCHIVES MAINTAIN A COLLECTION OF DOCUMENTS AND PHOTOGRAPHS PRESERVING THE HISTORY OF THE COLLEGE, AS WELL AS ARTIFACTS AND UNIQUE ITEMS SUCH AS STUDENT AND GROUP SCRAPBOOKS, A COLLECTION OF COLLEGE POSTCARDS, DEPARTMENTAL HONORS PAPERS, AND HISTORICAL METHODS PAPERS. THESE ARCHIVAL MATERIALS FOLLOW THE HISTORY OF THE SCHOOL FROM ITS EARLIEST INCARNATION AS THE WILLIAMSPORT ACADEMY (1812-1848), THROUGH ITS YEARS AS WILLIAMSPORT DICKINSON SEMINARY (1848-1928) AND WILLIAMSPORT DICKINSON SEMINARY AND JUNIOR COLLEGE (1928-1947) TO LYCOMING COLLEGE (1948-PRESENT). THE PURPOSE OF THE LYCOMING COLLEGE ARCHIVES IS TO COLLECT INACTIVE MATERIALS OF MANY TYPES THAT REFLECT UPON OUR HERITAGE THROUGH THE HISTORY, DEVELOPMENT, AND ADMINISTRATION OF LYCOMING COLLEGE, AND TO STRENGTHEN THE EDUCATIONAL MISSION OF THE COLLEGE BY PRESERVING AND MAKING AVAILABLE FOR RESEARCH VARIOUS MATERIALS OF A UNIQUE NATURE THAT RELATE TO THE HISTORY OF THE INSTITUTION. A FUNDAMENTAL PURPOSE OF THE COLLECTION IS TO ENGAGE STUDENTS ACTIVELY IN ORIGINAL RESEARCH WHILE REACHING A REASONABLE COMPROMISE BETWEEN USE AND PRESERVATION. THE LYCOMING COLLEGE ART GALLERY ENRICHES THE CULTURAL LIFE ON CAMPUS, IN THE WILLIAMSPORT COMMUNITY, AND THROUGHOUT THE REGION. THE EXHIBITIONS PRESENTED AND THE PROGRAMS WHICH ACCOMPANY THEM (LECTURES, ARTIST GALLERY TALKS, CLASS VISITS, ETC.) ARE INTENDED TO DEEPEN THE UNDERSTANDING OF ART, BOTH HISTORICAL AND OF OUR TIME, AND TO COMPLEMENT THE COLLEGE'S VISUAL ARTS CURRICULUM AND OTHER INTERDISCIPLINARY ACADEMIC PROGRAMS. THE GALLERY ALSO SERVES THE ART HISTORY AND STUDIO ART CURRICULAR BY PROVIDING AN OPPORTUNITY FOR OBJECT-CENTERED LEARNING, AND THE HUMANITIES CURRICULAR, THROUGH THE PRESENTATION OF UNIQUE CULTURAL AND HISTORIC WORKS OF ART. WE HOPE TO CHALLENGE AND STIMULATE OUR STUDENTS AND THE PUBLIC BY EXPOSING THEM TO NEW IDEAS AND ENCOURAGING THEM TO THINK INDEPENDENTLY AND CREATIVELY ABOUT THEIR WORK AND THEIR WORLD. THE LYCOMING COLLEGE ART GALLERY IS A WONDERFUL RESOURCE FOR STUDENTS AND THE WILLIAMSPORT COMMUNITY, A NICE CHANGE OF VENUE FOR FACULTY, A RESTFUL ESCAPE FOR STAFF, AND A GREAT PLACE FOR EVERYONE TO BRING FRIENDS AND FAMILY, THEREBY INCREASING THE VISIBILITY OF LYCOMING COLLEGE. PART V, LINE 4: THE FUND SERVES TWO GOALS: (A) TO OFFSET EXPENDITURES OF THE INSTITUTION NOT COVERED BY THE NORMAL OPERATING FUNDS AND (B) TO ENSURE THAT FUTURE GROWTH IS SUFFICIENT TO OFFSET INFLATION PLUS REASONABLE SPENDING, THEREBY PRESERVING THE CONSTANT DOLLAR VALUE AND PURCHASING POWER OF THE FUND. THIS WILL BE ACCOMPLISHED THROUGH A CAREFULLY PLANNED AND EXECUTED LONG-TERM INVESTMENT PROGRAM. THE OBJECTIVE OF THE INVESTMENT PROGRAM IS TO ENHANCE THE FUND'S LONG-TERM VIABILITY BY MAXIMIZING THE VALUE OF THE FUND WITH A PRUDENT LEVEL OF RISK. A SUCCESSFUL INVESTMENT PROGRAM MUST BE BALANCED BY A RESTRAINED ENDOWMENT SPENDING POLICY. PART X, LINE 2: THE COLLEGE ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD IS MET. MANAGEMENT DETERMINED THAT THERE WERE NO TAX UNCERTAINTIES THAT THE MET RECOGNITION THRESHOLD IN FISCAL YEAR 2014 AND 2013. THE COLLEGE'S FEDERAL RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX RETURNS FOR THE YEARS ENDED JUNE 30, 2013, 2012, AND 2011 AND THE FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS (FORM 990-T) FOR THE YEARS ENDED JUNE 30 2013, 2012, AND 2011 REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 172,353. CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS 52,228. CHANGE IN POSTRETIREMENT BENEFIT LIABILITY ADJUSTMENT -286,321. GRANTS & SCHOLARSHIPS -23,911,079. PART XI, LINE 4B - OTHER ADJUSTMENTS: CAMPUS STORE EXPENSES -629,056. PART XII, LINE 2D - OTHER ADJUSTMENTS: CAMPUS STORE EXPENSES 629,056. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS & SCHOLARSHIPS 23,911,079. 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 INCORPORATED INTO THE MISSION STATEMENT OF THE COLLEGE WHICH IS INCLUDED ON THE COLLEGE'S 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, PELL GRANTS, AND TECHNOLOGY GRANTS. THE COLLEGE ALSO RECEIVES GRANTS FROM THE COMMONWEALTH OF PENNSYLVANIA, THE MOST SIGNIFICANT OF WHICH IS THE INSTITUTIONAL ASSISTANCE GRANT. 1 INSTITUTIONAL GRANTS/SCHOLARSHIPS 1279 23757569 CASH N/A SEOG GRANTS 148 153510 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 STUDENT FINANCIAL AID OFFICE. X X X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 DR KENT C TRACHTE PRESIDENT 142476 0 0 0 0 0 0 0 16811 0 159287 0 0 0 DR JAMES E DOUTHAT PRESIDENT (UNTIL JUNE 2013) 287608 0 0 0 0 0 61732 0 17074 0 366414 0 0 0 JAMES D SPENCER VP ADMIN & FIN AID 157716 0 0 0 0 0 10000 0 23033 0 190749 0 0 0 CHARLES W EDMONDS VP COLLEGE ADVANCEMENT 141545 0 0 0 0 0 0 0 21533 0 163078 0 0 0 DR PHILIP W SPRUNGER PROVOST 155215 0 0 0 0 0 0 0 14786 0 170001 0 0 0 PART I, LINE 1A THE PRESIDENT'S COMPENSATION PACKAGE SPECIFICALLY STATES THAT TRAVEL EXPENSES FOR HIS SPOUSE DURING BUSINESS TRAVEL WILL BE PAID BY THE COLLEGE. THE PRESIDENT LIVES IN A HOUSE THE COLLEGE OWNS WHICH IS IN CLOSE PROXIMITY TO CAMPUS. THE COLLEGE PAYS FOR COUNTRY CLUB DUES FOR THE PRESIDENT AND A FEW OTHER KEY STAFF MEMBERS. THE PRESIDENT'S HOME IS CLEANED AND MAINTAINED BY THE COLLEGE'S CUSTODIAL STAFF. NONE OF THESE BENEFITS ARE CONSIDERED TAXABLE INCOME FOR THESE OFFICERS AS THESE BENEFITS ARE FOR BUSINESS PURPOSES. PART I, LINE 4B JAMES DOUTHAT, 457(F) CONTRIBUTIONS FOR THE YEAR WERE $44,232 AND 457(B) CONTRIBUTIONS FOR THE YEAR WERE $17,500. JAMES SPENCER, 457(F) CONTRIBUTIONS FOR THE YEAR WERE $10,000. A PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 232243852 70917NYU2 2003-10-23 11572896 REFUND SERIES 1997 AND 2001 BONDS, RENOVATIONS & MISC CAPITAL EXP 0 0 0 B PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 232243852 70917NN91 2004-12-22 8567167 REFUND SERIES OF 1998 BONDS, CONSTR AND FURNISHING OF STUDENT HOUSING 0 0 0 C LYCOMING COUNTY AUTHORITY 236760375 550809AHO 2013-08-29 29986420 REFUND SERIES 2003; RENOVATIONS AND MISC. CONSTRUCTION PROJECTS 0 0 0 A 11575000 11599917 963552 9100000 451480 1084885 2005 0 1 1 1 B 2260000 9109137 649534 2236090 234485 5989028 2007 0 1 1 1 C 29986420 362822 30926 7512427 22080245 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 1 0 0 0 1 A 1 B 1 C 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 06/04/2012 ISSUER NAME: PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 11/13/2009 ISSUER NAME: LYCOMING COUNTY AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 10/08/2014 SCHEDULE K, PART II, LINE 3: TOTAL PROCEEDS OF ISSUE REPORTED ON LINE 3 EXCEEDS THE ISSUE PRICE REPORTED IN PART I DUE TO INVESTMENT EARNINGS OF $27,021 (BOND ISSUE A) AND $541,970 (BOND ISSUE B). SCHEDULE K, PART III, LINE 3A: THERE ARE NO MANAGEMENT OR SERVICE CONTRACTS OR RESEARCH AGREEMENTS RELATING TO THE FINANCED PROPERTIES FOR THE 2003, 2004, OR 2013 BONDS. CAROLYN KAY LUNDY BOARD TRUSTEE 2109428 SEE PART V 0 DANIEL R HAWBAKER BOARD TRUSTEE 378646 SEE PART V 0 SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: CAROLYN KAY LUNDY'S SON, FRANK LUNDY III, IS THE VICE PRESIDENT OF LUNDY CONSTRUCTION. LUNDY CONSTRUCTION PERFORMS CONSTRUCTION WORK FOR VARIOUS BUILDING PROJECTS AT THE COLLEGE.DANIEL R HAWBAKER IS THE PRESIDENT OF GLEN O HAWBAKER INC. GLEN O HAWBAKER INC PERFORMS CONSTRUCTION WORK FOR VARIOUS BUILDING PROJECTS AT THE COLLEGE. X 13 290293 MEAN OF STOCK PRICE X PIANO REBUILD 1 15000 COST X LODGING 1 4760 COST 0 1 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS LISTED IN PART I REPRESENT THE NUMBER OF DONORS FOR THAT PARTICULAR ITEM. FORM 990, PART VI, SECTION A, LINE 2 TRUSTEES JAY CLEVELAND SR AND JAY CLEVELAND JR ARE RELATED (FATHER & SON). TRUSTEE MARK FULTZ IS THE SON OF EMERITUS TRUSTEE DAN FULTZ. FORM 990, PART VI, SECTION B, LINE 11 A DRAFT OF THE FULL FORM 990 WAS PROVIDED TO MEMBERS OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES AND REVIEWED BY THE AUDIT COMMITTEE AT A MEETING IN 2015 WITH BAKER TILLY, THE INDEPENDENT AUDITORS OF THE COLLEGE. FOLLOWING THAT REVIEW, THE PUBLIC DISCLOSURE COPY OF FORM 990 WAS PROVIDED TO EACH TRUSTEE OF THE COLLEGE AND WAS RECOMMENDED FOR APPROVAL BY THE CHAIRMAN OF THE AUDIT COMMITTEE TO THE BOARD OF TRUSTEES AT ITS ANNUAL SPRING MEETING PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE AUDIT COMMITTEE OF THE BOARD PERIODICALLY REVIEWS THE COLLEGE'S CONFLICT OF INTEREST POLICY TO ENSURE THAT IT IS COMPREHENSIVE, CLEARLY DEFINES THE TERM "CONFLICT OF INTEREST" AND CONTAINS PROCEDURES FOR ADEQUATELY RESOLVING AND DOCUMENTING POTENTIAL CONFLICTS. THE POLICY REQUIRES ANNUAL SIGNOFF BY BOARD TRUSTEES. BEFORE THE BOARD OR A COMMITTEE OF THE BOARD CONSIDERS A PROPOSED TRANSACTION/ARRANGEMENT, ANY INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND DISCLOSE ALL MATERIAL FACTS TO THE BOARD OR COMMITTEE. THE INTERESTED PERSON WILL THEN LEAVE THE MEETING WHILE THE BOARD OR COMMITTEE DETERMINE AND VOTE UPON THE CONFLICT OF INTEREST. THE BOARD OR COMMITTEE MAY, IF APPROPRIATE, CONSIDER ALTERNATIVES TO THE PROPOSED TRANSACTION/ARRANGEMENT. THE INTERESTED PERSON WOULD ABSTAIN FROM VOTING ON THE MATTER. ALL DETERMINATIONS AND VOTES ARE DOCUMENTED IN THE MINUTES OF THE BOARD OF TRUSTEES OR COMMITTEE MEETINGS. IF ANYONE FAILS TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, THE BOARD WILL DETERMINE THE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION UP TO REMOVAL FROM THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES SETS THE PARAMETERS FOR THE OVERALL SALARY POOL FOR COLLEGE EMPLOYEES AT THEIR FEBRUARY MEETING AS PART OF THE ANNUAL BUDGET CYCLE. THE PERSONNEL COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS AND SETS THE SALARY AND BENEFITS FOR THE PRESIDENT AT THEIR APRIL MEETING EACH YEAR. THE PERSONNEL COMMITTEE ALSO REVIEWS AND SETS THE SALARIES FOR THE SENIOR OFFICERS OF THE COLLEGE (PROVOST AND DEAN OF THE COLLEGE, VICE PRESIDENT FOR FINANCE AND ADMINISTRATION, VICE PRESIDENT FOR ADMISSIONS AND FINANCIAL AID, DEAN OF STUDENT AFFAIRS AND VICE PRESIDENT FOR COLLEGE ADVANCEMENT). THE PERSONNEL COMMITTEE IS PROVIDED WITH COMPARATIVE DATA FOR THE PRESIDENT AND SENIOR OFFICERS RELATIVE TO SIMILAR INSTITUTIONS IN MISSION, ENROLLMENT SIZE, FINANCES, ETC. THE PERSONNEL COMMITTEE ALSO RECEIVES A REPORT OF HOW FACULTY SALARIES AND COMPENSATION COMPARE AT LYCOMING COLLEGE RELATIVE TO SIMILAR INSTITUTIONS. THIS REVIEW AND APPROVAL PROCESS IS DOCUMENTED VIA MINUTES OF THE PERSONNEL COMMITTEE MEETINGS. THE PRESIDENT APPROVES THE SALARY FOR ALL OTHER EMPLOYEES WITHIN THE PARAMETERS SET BY THE BOARD, THE COLLEGE'S SALARY GRADES FOR EACH POSITION AND VARIOUS COMPENSATION SURVEYS. THE PRESIDENT RECEIVES COMPARATIVE DATA FOR ALL MID-LEVEL AND ADMINISTRATIVE EMPLOYEES FROM THE SAME COMPARISON GROUP THAT IS USED BY THE PERSONNEL COMMITTEE. THE DIRECTOR OF HUMAN RESOURCES PROVIDES COMPARATIVE DATA FOR THE ADMINISTRATIVE ASSISTANT AND PHYSICAL LABORER POSITIONS TO THE PRESIDENT. CONTINUING FACULTY AND STAFF SALARIES ARE APPROVED BY THE PRESIDENT UPON THE RECOMMENDATION OF THE CORRESPONDING SENIOR OFFICER AND BASED ON THE COLLEGE'S EVALUATION AND PERSONNEL POLICIES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 172,353. CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS 52,228. POSTRETIREMENT BENEFIT LIABILITY ADJUSTMENT -286,321.