LENOIR-RHYNE UNIVERSITY: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- LENOIR-RHYNE UNIVERSITY (EIN 56-0556753)
- Tax period
- 2012-06-01 to 2013-05-31
- Filed
- 2014-01-21
- IRS object ID
- 201400219349300440
- Schema version
- 2012v2.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule F
- Schedule G
- Schedule I
- Schedule J
- Schedule K
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2014-01-21T16:03:52-06:00 | Timestamp |
| Tax Period End Date | 2013-05-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 420714325 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MCGLADREY LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 230 N ELM ST STE 1100 | AddressLine1 |
| City | GREENSBORO | City |
| State | NC | State |
| ZIP Code | 27401 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-06-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 560556753 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LENOIR-RHYNE UNIVERSITY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | LENO | NameControl |
| Phone | 8283287100 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 7164 | AddressLine1 |
| City | HICKORY | City |
| State | NC | State |
| ZIP Code | 28603 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | WAYNE B POWELL | Name |
| Title | PRESIDENT | Title |
| Phone | 8283287100 | Phone |
| Date Signed | 2014-01-13 | DateSigned |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | ADRIENNE MCKINNEY | Name |
| PTIN | P00819656 | PTIN |
| Phone | 3362724551 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2015-11-30 17:44:51Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | WAYNE B POWELL | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 7164 | AddressLine1 |
| City | HICKORY | City |
| State | NC | State |
| ZIP Code | 28603 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 108896834 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.LRC.EDU | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1905 | YearFormation |
| State Legal Domicile | NC | StateLegalDomicile |
| Activity Or Mission Description | SEE SCHEDULE O.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. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 30 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 29 | NbrIndependentVotingMembers |
| Total Nbr Employees | 1130 | TotalNbrEmployees |
| Total Nbr Volunteers | 150 | TotalNbrVolunteers |
| Total Gross UBI | -304 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -3032 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 6558736 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 8113809 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 48672763 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 49929140 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 1758737 | InvestmentIncomePriorYear |
| Investment Income Current Year | 2961260 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 262984 | OtherRevenuePriorYear |
| Other Revenue Current Year | 312518 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 57253220 | TotalRevenuePriorYear |
| Total Revenue Current Year | 61316727 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 21715311 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 20427848 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 18421175 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 20148500 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 82381 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 35331 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 1801930 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 15976460 | OtherExpensePriorYear |
| Other Expenses Current Year | 18604436 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 56195327 | TotalExpensesPriorYear |
| Total Expenses Current Year | 59216115 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 1057893 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 2100612 | RevenuesLessExpensesCY |
| Total Assets BOY | 125408486 | TotalAssetsBOY |
| Total Assets EOY | 174420190 | TotalAssetsEOY |
| Total Liabilities BOY | 25698123 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 30432837 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 99710363 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 143987353 | NetAssetsOrFundBalancesEOY |
| Mission Description | 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. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 34421521 | Expense |
| Grants | 19923443 | Grants |
| Revenue | 39161911 | Revenue |
| Description | PROVIDE EDUCATIONAL PROGRAMS AND CONFER UNDERGRADUATE DEGREES IN APPROXIMATELY SIXTY ACADEMIC PROGRAMS OF STUDY. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 1383843 | Expense |
| Grants | 504405 | Grants |
| Revenue | 3328805 | Revenue |
| Description | PROVIDE EDUCATIONAL PROGRAMS AND CONFER MASTERS LEVEL GRADUATE DEGREES IN COUNSELING, ATHLETIC TRAINING, BUSINESS, AND OCCUPATIONAL THERAPY. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 4895946 | Expense |
| Revenue | 7438424 | Revenue |
| Description | PROVIDE STUDENT LIFE PROGRAMS TO RESIDENTIAL AND COMMUTER STUDENTS AS PART OF THEIR ACADEMIC EXPERIENCES AT THE UNIVERSITY. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expense | 40701310 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 1 | CreditCounseling |
| Term Or Permanent Endowments | 1 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 1 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 1 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 1 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 1 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 1 | TaxExemptBonds |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBonds |
| Escrow Account | 0 | EscrowAccount |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 1 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 179 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 1130 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 1 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 30 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 29 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 1 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 1 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 0 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 0 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | WAYNE B POWELL | NamePerson |
| Telephone Number | 8283287334 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 643 8TH AVENUE NE | AddressLine1 |
| City | HICKORY | City |
| State | NC | State |
| ZIP Code | 28601 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | X | InfoInScheduleOPartVII |
Form990 Part VII Section A Form990PartVIISectionA (38 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|
| DR WAYNE B POWELL | |||||||
| PRESIDENT | 40.00 | X | X | 258146 | 0 | 54749 | |
| KATHRYN FISHER | |||||||
| DEAN OF STUDENTS | 40.00 | X | 82007 | 0 | 7095 | ||
| LARRY M HALL | |||||||
| PROVOST | 40.00 | X | 143131 | 0 | 22228 | ||
| PETER K KENDALL | |||||||
| VP OF FINANCE | 40.00 | X | 137147 | 0 | 21822 | ||
| RACHEL NICHOLS | |||||||
| VP ENROLLMENT MANAGEMENT | 40.00 | X | 106905 | 0 | 25788 | ||
| WILLARD S SHRODE | |||||||
| VP INST. ADVANCEMENT | 40.00 | X | 123838 | 0 | 15088 | ||
| DREW VANHORN | |||||||
| VP INST. ADVANCEMENT | 40.00 | X | 53159 | 0 | 8541 | ||
| PAUL S SHUMAKER | |||||||
| CONTROLLER | 40.00 | X | 83223 | 0 | 20535 | ||
| NEILL R MCGEACHY | |||||||
| ATHLETIC DIRECTOR | 40.00 | 158983 | 0 | 14268 | X | ||
| JEROME W BOLICK | |||||||
| TRUSTEE - TREASURER | 1.00 | X | X | 0 | 0 | 0 | |
| REVDR LEONARD H BOLICK | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| JEFFREY P BRONNENBERG | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| DR KI-HYUN CHUN | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| DUANE A DASSOW | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| ALAN P DAVIS | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| BOYD L GEORGE | |||||||
| TRUSTEE - VICE CHAIR | 1.00 | X | X | 0 | 0 | 0 | |
| JANE C HANDLY | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| MICHAEL W HINSHAW | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| REV G SCOTT HOMESLEY | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| STEVE O HUNT | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| MARGARET H JACKSON | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| REV DAVID R KECK JR | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| DEWYONE KING | |||||||
| 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 | ||
| JAMES L MCCOY JR | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| KATHERINE F MCKENZIE | |||||||
| TRUSTEE - SECRETARY | 1.00 | X | X | 0 | 0 | 0 | |
| STEPHEN B NEUVILLE | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| REV G STEVE PLONK | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| REV TIMOTHY M SMITH | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| CHARLES M SNIPES | |||||||
| TRUSTEE - BOARD CHAIR | 1.00 | X | X | 0 | 0 | 0 | |
| PHILLIP E STEPHENS | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| REV PAUL H SUMMER | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| JAMES V TARLTON | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| STEPHEN M THOMAS | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| REV DR WILLIAM B TREXLER | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| TONY W WOLFE | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| REV D RHODES WOOLLY | |||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1146539 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 190114 | TotalOtherCompensation |
| Number Individuals GT100 K | 6 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| ARAMARK FACILITY SERVICES | |||||
| 1255 CRESCENT GREEN DRIVE STE 21 | CARY | NC | 27518 | MAINTENANCE & HOUSEKEEPING | 1986095 |
| ARAMARK CAMPUS SERVICES | |||||
| PO BOX 7476 | HICKORY | NC | 28603 | FOOD SERVICE | 1855948 |
| ELLUCIAN COMPANY LP | |||||
| 4 COUNTRY VIEW ROAD | MALVERN | PA | 19355 | INFORMATION TECH CONSULTING | 1086740 |
| HICKORY CONSTRUCTION CO INC | |||||
| PO BOX 1769 | HICKORY | NC | 28603 | CONSTRUCTION NEEDS | 325017 |
| CLARK PATTERSON ASSOCIATES INC | |||||
| 415 HILLSBOROUGH STREET STE 101 | RALEIGH | NC | 27603 | CONSTRUCTION DESIGNS | 280555 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 22 | NumberOfContractorsGT100K |
| Government Grants | 919680 | GovernmentGrants |
| All Other Contributions | 7194129 | AllOtherContributions |
| Noncash Contributions | 873214 | NoncashContributions |
| Total Contributions | 8113809 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| TUITION AND FEES | 611710 | 42515179 | 42515179 |
| AUXILIARY SERVICES | 611710 | 7413961 | 7413961 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 49929140 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 2189105 | TotalRevenueColumn |
| Unrelated Business Revenue | -304 | UnrelatedBusinessRevenue |
| Exclusion | $2,189,409 | ExclusionAmount |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 27250 | Real |
Less Rental Expenses LessRentalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 23800 | Real |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 3450 | Real |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 3450 | TotalRevenueColumn |
| Exclusion | $3,450 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 48328462 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 47455810 | Securities |
| Other | 100497 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 872652 | Securities |
| Other | -100497 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 772155 | TotalRevenueColumn |
| Exclusion | $772,155 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | MISCELLANEOUS | Description |
| Business Code | 611710 | BusinessCode |
| Total Revenue Column | 309068 | TotalRevenueColumn |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $309,068 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 309068 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 61316727 | TotalRevenueColumn |
| Related Or Exempt Function Income | 49929140 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | -304 | UnrelatedBusinessRevenue |
| Exclusion | $3,274,082 | ExclusionAmount |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 20427848 | Total |
| Program Services | 20427848 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1008622 | Total |
| Program Services | 530132 | ProgramServices |
| Management And General | 432295 | ManagementAndGeneral |
| Fundraising | 46195 | Fundraising |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 15037608 | Total |
| Program Services | 7903766 | ProgramServices |
| Management And General | 6445119 | ManagementAndGeneral |
| Fundraising | 688723 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 731425 | Total |
| Program Services | 384437 | ProgramServices |
| Management And General | 313489 | ManagementAndGeneral |
| Fundraising | 33499 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2187342 | Total |
| Program Services | 1149667 | ProgramServices |
| Management And General | 937495 | ManagementAndGeneral |
| Fundraising | 100180 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1183503 | Total |
| Program Services | 622049 | ProgramServices |
| Management And General | 507250 | ManagementAndGeneral |
| Fundraising | 54204 | Fundraising |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3797820 | Total |
| Program Services | 1996134 | ProgramServices |
| Management And General | 1627746 | ManagementAndGeneral |
| Fundraising | 173940 | Fundraising |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 160363 | Total |
| Program Services | 84287 | ProgramServices |
| Management And General | 68731 | ManagementAndGeneral |
| Fundraising | 7345 | Fundraising |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 100576 | Total |
| Program Services | 52863 | ProgramServices |
| Management And General | 43107 | ManagementAndGeneral |
| Fundraising | 4606 | Fundraising |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 35331 | Total |
| Fundraising | 35331 | Fundraising |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 180900 | Total |
| Management And General | 180900 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1021014 | Total |
| Program Services | 536645 | ProgramServices |
| Management And General | 437607 | ManagementAndGeneral |
| Fundraising | 46762 | Fundraising |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 259981 | Total |
| Program Services | 136646 | ProgramServices |
| Management And General | 111428 | ManagementAndGeneral |
| Fundraising | 11907 | Fundraising |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 651306 | Total |
| Program Services | 342326 | ProgramServices |
| Management And General | 279150 | ManagementAndGeneral |
| Fundraising | 29830 | Fundraising |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1285822 | Total |
| Program Services | 675828 | ProgramServices |
| Management And General | 551103 | ManagementAndGeneral |
| Fundraising | 58891 | Fundraising |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4125 | Total |
| Program Services | 2168 | ProgramServices |
| Management And General | 1768 | ManagementAndGeneral |
| Fundraising | 189 | Fundraising |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 17833 | Total |
| Program Services | 9373 | ProgramServices |
| Management And General | 7643 | ManagementAndGeneral |
| Fundraising | 817 | Fundraising |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1131986 | Total |
| Program Services | 594972 | ProgramServices |
| Management And General | 485169 | ManagementAndGeneral |
| Fundraising | 51845 | Fundraising |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 643252 | Total |
| Program Services | 338093 | ProgramServices |
| Management And General | 275698 | ManagementAndGeneral |
| Fundraising | 29461 | Fundraising |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3653500 | Total |
| Program Services | 1920280 | ProgramServices |
| Management And General | 1565890 | ManagementAndGeneral |
| Fundraising | 167330 | Fundraising |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 485154 | Total |
| Program Services | 254997 | ProgramServices |
| Management And General | 207937 | ManagementAndGeneral |
| Fundraising | 22220 | Fundraising |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral | FundraisingFundraising |
|---|---|---|---|---|
| UTILITIES | 1618622 | 850748 | 693741 | 74133 |
| REPAIRS | 787285 | 413797 | 337430 | 36058 |
| MEMBERSHIPS & DUES | 202954 | 106673 | 86986 | 9295 |
| SOFTWARE LICENSES | 94471 | 49654 | 40490 | 4327 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2507472 | Total |
| Program Services | 1317927 | ProgramServices |
| Management And General | 1074703 | ManagementAndGeneral |
| Fundraising | 114842 | Fundraising |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 59216115 | Total |
| Program Services | 40701310 | ProgramServices |
| Management And General | 16712875 | ManagementAndGeneral |
| Fundraising | 1801930 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 11770 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 12099815 | BOY |
| EOY | 17996431 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 11255365 | BOY |
| EOY | 9339537 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 563923 | BOY |
| EOY | 1355258 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1634817 | BOY |
| EOY | 1525599 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 11921 | BOY |
| EOY | 12213 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 540612 | BOY |
| EOY | 625175 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 95652746 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 37688084 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 40293431 | BOY |
| EOY | 57964662 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 34756955 | BOY |
| EOY | 54787996 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 19959272 | BOY |
| EOY | 25848882 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4292375 | BOY |
| EOY | 4952667 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 125408486 | BOY |
| EOY | 174420190 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2338274 | BOY |
| EOY | 3029773 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 459086 | BOY |
| EOY | 796145 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14960000 | BOY |
| EOY | 14295000 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 94253 | BOY |
| EOY | 157315 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3245085 | BOY |
| EOY | 7961569 | EOY |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 951212 | BOY |
| EOY | 748068 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3650213 | BOY |
| EOY | 3444967 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 25698123 | BOY |
| EOY | 30432837 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 20364091 | BOY |
| EOY | 34016309 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 26788829 | BOY |
| EOY | 34364220 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 52557443 | BOY |
| EOY | 75606824 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 99710363 | BOY |
| EOY | 143987353 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 125408486 | BOY |
| EOY | 174420190 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 2100612 | ReconcilationRevenueExpenses |
| Reconciliation Unrealized Invest | 6671552 | ReconciliationUnrealizedInvest |
| Reconcilation Other Changes | 35504826 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Separate | X | FinancialStatementSeparate |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | 1 | AuditCommittee |
| Federal Grant Audit Required | 1 | FederalGrantAuditRequired |
| Federal Grant Audit Performed | 1 | FederalGrantAuditPerformed |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School170b1 Aii | X | School170b1Aii |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtc |
| Included On FS | 1 | IncludedOnFS |
| Explanation In Part XIII | X | ExplanationInPartXIII |
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 58142226 | BeginningOfYearBalance |
| Contributions | 23881848 | Contributions |
| Investment Earnings Or Losses | 9220362 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 2193392 | GrantsOrScholarships |
| Other Expenditures | 727511 | OtherExpenditures |
| Administrative Expenses | 523669 | AdministrativeExpenses |
| End Of Year Balance | 87799864 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 61678109 | BeginningOfYearBalance |
| Contributions | 428546 | Contributions |
| Investment Earnings Or Losses | -1650927 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 1632407 | GrantsOrScholarships |
| Other Expenditures | 611043 | OtherExpenditures |
| Administrative Expenses | 70052 | AdministrativeExpenses |
| End Of Year Balance | 58142226 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 52783523 | BeginningOfYearBalance |
| Contributions | 2073966 | Contributions |
| Investment Earnings Or Losses | 9215730 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 1680805 | GrantsOrScholarships |
| Other Expenditures | 641678 | OtherExpenditures |
| Administrative Expenses | 72627 | AdministrativeExpenses |
| End Of Year Balance | 61678109 | EndOfYearBalance |
Current Year Minus3 Years CurrentYearMinus3Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 47672900 | BeginningOfYearBalance |
| Contributions | 3295556 | Contributions |
| Investment Earnings Or Losses | 4233753 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 1696813 | GrantsOrScholarships |
| Other Expenditures | 626116 | OtherExpenditures |
| Administrative Expenses | 95757 | AdministrativeExpenses |
| End Of Year Balance | 52783523 | EndOfYearBalance |
Current Year Minus4 Years CurrentYearMinus4Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 59163177 | BeginningOfYearBalance |
| Contributions | 2008387 | Contributions |
| Investment Earnings Or Losses | -11275952 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 1190674 | GrantsOrScholarships |
| Other Expenditures | 1032038 | OtherExpenditures |
| End Of Year Balance | 47672900 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 0.04530 | BoardDesignatedEOYBalance |
| Permanent Endowment EOY Balance | 0.78740 | PermanentEndowmentEOYBalance |
| Term Endowment EOY Balance | 0.16730 | TermEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | 1 | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | 1 | EndowmentsHeldByRelatedOrgs |
| Are Related Orgs Listed Schedule R | 1 | AreRelatedOrgsListedScheduleR |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 385625 | InvestmentCostOrOtherBasis |
| Other Cost Or Other Basis | 2302055 | OtherCostOrOtherBasis |
| Book Value | 2687680 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 76984166 | OtherCostOrOtherBasis |
| Depreciation | 32734812 | Depreciation |
| Book Value | 44249354 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 9210442 | OtherCostOrOtherBasis |
| Depreciation | 1123432 | Depreciation |
| Book Value | 8087010 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 6770458 | OtherCostOrOtherBasis |
| Depreciation | 3829840 | Depreciation |
| Book Value | 2940618 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 57964662 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (5 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| EQUITY FUNDS | 5028243 | F |
| BOND FUNDS | 1372993 | F |
| HEDGE FUNDS | 7984525 | F |
| LIMITED PARTNERSHIPS | 8921823 | F |
| ANNUITY CONTRACTS | 2541298 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 25848882 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities (3 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| GOVERNMENT ADVANCES FOR STUDENT LOANS | $1,657,389 |
| INTEREST RATE SWAP | $924,422 |
| ASSET RETIREMENT OBLIGATIONS | $863,156 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 3444967 | TotalOfAmounts |
| Footnote In Part XIII | X | FootnoteInPartXIII |
| Tot Revenue Etc Audited Fincl Stmt | 83008654 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | 6671552 | NetUnrealizedGainsInvestments |
| Other Revenues | 14913147 | OtherRevenues |
| Revenue Not Rptd F990 | 21584699 | RevenueNotRptdF990 |
| Revenue Subtotal | 61423955 | RevenueSubtotal |
| Other Revenues Not Included | -107228 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | -107228 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 61316727 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 38731664 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | 124297 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 124297 | ExpensesNotRptdF990 |
| Expenses Subtotal | 38607367 | ExpensesSubtotal |
| Investment Expenses Not Included2 | 180900 | InvestmentExpensesNotIncluded2 |
| Other Expenses Not Included | 20427848 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 20608748 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 59216115 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIII Form990ScheduleDPartXIII (7 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| 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. | DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: |
| 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 FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FASB ACCOUNTING STANDARDS CODIFICATION. WITH FEW EXCEPTIONS, THE UNIVERSITY IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, AND LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2010. | DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: |
| SCHOLARSHIPS EXPENSE -20,427,848. GAIN ON INTEREST RATE SWAP 242,759. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -324,208. INVESTMENT FEES -180,900. CONTRIBUTION OF LUTHERAN THEOLOGICAL SOUTHERN SEMINARY NET ASSETS IN MERGER 35,603,344. | PART XI, LINE 2D - OTHER ADJUSTMENTS: | |
| RENTAL EXPENSES -23,800. NONCASH CONTRIBUTIONS 14,253. LOSS ON SALE OF FIXED ASSETS -100,497. INSURANCE PREMIUM PAYMENT DONATION 2,816. | PART XI, LINE 4B - OTHER ADJUSTMENTS: | |
| RENTAL EXPENSES 23,800. LOSS ON SALE OF FIXED ASSETS 100,497. | PART XII, LINE 2D - OTHER ADJUSTMENTS: | |
| SCHOLARSHIP EXPENSE 20,427,848. | PART XII, LINE 4B - OTHER ADJUSTMENTS: |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | 1 | NondiscriminatoryPolicyStmt |
| Policy Statement In Brochures Etc | 0 | PolicyStatementInBrochuresEtc |
| Policy Publ Via Broadcast Media | 0 | PolicyPublViaBroadcastMedia |
| Maint Racial Composition Records | 1 | MaintRacialCompositionRecords |
| Maint Scholarships Records | 1 | MaintScholarshipsRecords |
| Maint Copies Of Brochures Etc | 1 | MaintCopiesOfBrochuresEtc |
| Maint Copies Of All Solicitations | 1 | MaintCopiesOfAllSolicitations |
| Discriminate Race Students Rights | 0 | DiscriminateRaceStudentsRights |
| Discriminate Race Admiss Policies | 0 | DiscriminateRaceAdmissPolicies |
| Discriminate Race Emplmn Faculty | 0 | DiscriminateRaceEmplmnFaculty |
| Discriminate Race Scholarships | 0 | DiscriminateRaceScholarships |
| Discriminate Race Educ Policies | 0 | DiscriminateRaceEducPolicies |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFclts |
| Discriminate Race Athletic Prog | 0 | DiscriminateRaceAthleticProg |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActy |
| Government Financial Aid Received | 1 | GovernmentFinancialAidReceived |
| Government Financial Aid Revoked | 0 | GovernmentFinancialAidRevoked |
| Compliance With Rev Proc7550 | 1 | ComplianceWithRevProc7550 |
Form990 Schedule E Part II Form990ScheduleEPartII (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION | 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. |
| EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE | SCHEDULE E, PART I, LINE 6 | LENOIR-RHYNE UNIVERSITY STUDENTS RECEIVE A VARIETY OF FEDERAL AND STATE GRANTS AND LOANS, INCLUDING DIRECT LOANS, PELL GRANTS, NORTH CAROLINA NEED-BASED SCHOLARSHIP PROGRAM, AND NORTH CAROLINA TEACHING FELLOWS. |
Schedule F IRS990ScheduleF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | 1 | GrantRecordsMaintained |
Accts Actvs Out US Table AcctsActvsOutUSTable (2 entries)
| RegionRegion | Number Of OfficesNumberOfOffices | Number Of EmployeesNumberOfEmployees | Type Of Activities ConductedTypeOfActivitiesConducted | Total ExpendituresTotalExpenditures |
|---|---|---|---|---|
| CENTRAL AMERICA AND THE CARIBBEAN | 0 | 0 | INVESTMENTS | 9694200 |
| EUROPE (INCLUDING ICELAND & GREENLAND) | 0 | 0 | INVESTMENT | 731835 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Number Of Offices | 0 | SubtotalNumberOfOffices |
| Subtotal Number Of Employees | 0 | SubtotalNumberOfEmployees |
| Cont Number Of Offices | 0 | ContNumberOfOffices |
| Cont Number Of Employees | 0 | ContNumberOfEmployees |
| Total Number Of Offices | 0 | TotalNumberOfOffices |
| Total Number Of Employees | 0 | TotalNumberOfEmployees |
| Subtotal Amount Spent | 10426035 | SubtotalAmountSpent |
| Cont Amount Spent | 0 | ContAmountSpent |
| Total Amount Spent | 10426035 | TotalAmountSpent |
| Transfer To Foreign Corp | 1 | TransferToForeignCorp |
| Interest In Foreign Trust | 0 | InterestInForeignTrust |
| Own Foreign Corp | 1 | OwnForeignCorp |
| Passive Foreign Invest Co | 1 | PassiveForeignInvestCo |
| Foreign Partnership | 1 | ForeignPartnership |
| Boycott Countries | 0 | BoycottCountries |
Form990 Schedule F Part V Form990ScheduleFPartV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: | Identifier |
Schedule G IRS990ScheduleG
| Field | Value | IRS element (for citing) |
|---|---|---|
| Mail Solicitations | X | MailSolicitations |
| Email Solicitations | X | EmailSolicitations |
| Phone Solicitations | X | PhoneSolicitations |
| In Person Solicitations | X | InPersonSolicitations |
| Solicitation Of Govt Grants | X | SolicitationOfGovtGrants |
| Agreement Ref Fundraising | 0 | AgreementRefFundraising |
Events Information EventsInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Event1 | NONE | NameOfEvent1 |
| Name Of Event2 | NONE | NameOfEvent2 |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Form990 Schedule I Part III Form990ScheduleIPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Grant | SCHOLARSHIPS AND FELLOWSHIPS TO STUDENTS | TypeOfGrant |
| Number Of Recipients | 1481 | NumberOfRecipients |
| Amount Of Cash Grant | 20427848 | AmountOfCashGrant |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURE FOR MONITORING GRANTS IN THE U.S.: | Identifier |
| Return Reference | PART I, LINE 2: | ReturnReference |
| Explanation | SCHEDULE I, 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. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (4 entries)
| TitleTitle | Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DR WAYNE B POWELL | ||||||||||||||
| PRESIDENT | 256562 | 0 | 0 | 0 | 1584 | 0 | 31500 | 0 | 23249 | 0 | 312895 | 0 | 0 | 0 |
| LARRY M HALL | ||||||||||||||
| PROVOST | 142579 | 0 | 0 | 0 | 552 | 0 | 8863 | 0 | 13365 | 0 | 165359 | 0 | 0 | 0 |
| PETER K KENDALL | ||||||||||||||
| VP OF FINANCE | 136595 | 0 | 0 | 0 | 552 | 0 | 8504 | 0 | 13318 | 0 | 158969 | 0 | 0 | 0 |
| NEILL R MCGEACHY | ||||||||||||||
| ATHLETIC DIRECTOR | 157129 | 0 | 0 | 0 | 1854 | 0 | 7035 | 0 | 7233 | 0 | 173251 | 0 | 0 | 0 |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LENOIR-RHYNE UNIVERSITY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Issuer EIN | 560556753 | IssuerEIN |
| CUSIP Number | 65818PFR5 | CUSIPNumber |
| Date Issued | 2008-03-13 | DateIssued |
| Issue Price | 17000000 | IssuePrice |
| Description Of Purpose | SEE SCHEDULE O. | DescriptionOfPurpose |
| Defeased | 0 | Defeased |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Pool Financing | 0 | PoolFinancing |
Form990 Schedule K Part II Form990ScheduleKPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Total Proceeds | 17000000 | TotalProceeds |
| Issuance Costs From Proceeds | 176240 | IssuanceCostsFromProceeds |
| Working Capital Expenditures | 16823760 | WorkingCapitalExpenditures |
| Capital Expenditures | 8385345 | CapitalExpenditures |
| Year Of Subst Completion | 2010 | YearOfSubstCompletion |
| Current Refunding | 1 | CurrentRefunding |
| Advance Refunding | 0 | AdvanceRefunding |
| Final Allocation Made | 1 | FinalAllocationMade |
| Adequate Books And Recds Maintaind | 1 | AdequateBooksAndRecdsMaintaind |
Form990 Schedule K Part III Form990ScheduleKPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Owning Bond Financed Property | 0 | OwningBondFinancedProperty |
| Any Lease Arrangements | 0 | AnyLeaseArrangements |
| Mngment Cntrct Bond Financd Prprty | 0 | MngmentCntrctBondFinancdPrprty |
| Any Research Agreements | 0 | AnyResearchAgreements |
| Bond Iss Meet Prvt Security Pay Test | 1 | BondIssMeetPrvtSecurityPayTest |
| Change In Use Bond Financed Prop | 0 | ChangeInUseBondFinancedProp |
| Non Qualified Bond Remed Procdrs | 0 | NonQualifiedBondRemedProcdrs |
Form990 Schedule K Part IV Form990ScheduleKPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Form8038 T Filed | 1 | Form8038TFiled |
| Variable Rate Issue | 1 | VariableRateIssue |
| Hedge Identified In Books And Recds | 1 | HedgeIdentifiedInBooksAndRecds |
Name Of Hedge Provider NameOfHedgeProvider
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WELLS FARGO | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Term Of Hedge | 9.000000000000 | TermOfHedge |
| Superintegrated Hedge | 0 | SuperintegratedHedge |
| Hedge Terminated | 0 | HedgeTerminated |
| Gross Proceeds Invested In GIC | 0 | GrossProceedsInvestedInGIC |
| Gross Proceeds Invested | 0 | GrossProceedsInvested |
| Written Proc To Monitor Reqs | 0 | WrittenProcToMonitorReqs |
Form990 Schedule K Part V Form990ScheduleKPartV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Proc To Undertk Corrective Action | 1 | ProcToUndertkCorrectiveAction |
Schedule M IRS990ScheduleM
Books And Publications BooksAndPublications
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Noncash Contribs Rptd F990 | 2720 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | FAIR MARKET VALUE | MethodOfDeterminingRevenues |
Securities Miscellaneous SecuritiesMiscellaneous
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 54 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 522661 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | FAIR MARKET VALUE | MethodOfDeterminingRevenues |
Real Estate Other RealEstateOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 2 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 336300 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | APPRAISAL | MethodOfDeterminingRevenues |
Other Non Cash Contributions Table OtherNonCashContributionsTable (3 entries)
| Non Cash CheckboxNonCashCheckbox | DescriptionDescription | Number Of ContributionsNumberOfContributions | Noncash Contribs Rptd F990NoncashContribsRptdF990 | Method Of Determining RevenuesMethodOfDeterminingRevenues |
|---|---|---|---|---|
| X | MUSICAL INSTRUMENTS | 1 | 200 | FAIR MARKET VALUE |
| X | SUPPLIES | 4 | 845 | FAIR MARKET VALUE |
| X | FURNITURE | 1 | 10488 | FAIR MARKET VALUE |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | 0 | ReviewProcessUnusualNCGifts |
| Third Parties Used | 1 | ThirdPartiesUsed |
Form990 Schedule M Part II Form990ScheduleMPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | THIRD PARTY USE: | Identifier |
| Return Reference | PART I, LINE 32B: | ReturnReference |
| Explanation | FOR NONCASH CONTRIBUTIONS OF SECURITIES, THE ORGANIZATION USES A THIRD PARTY BROKER COMPANY TO SELL THESE ASSETS. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (13 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| 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. | |
| 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 BOARD MEMBERS OF THE FINANCE COMMITTEE REVIEWED THE DRAFT 990 (PUBLIC INSPECTION COPY) IN DETAIL. BASED ON THIS REVIEW, THEY APPROVED THE 990 (PUBLIC INSPECTION COPY) FOR FILING. SUBSEQUENTLY, THE PUBLIC INSPECTION COPY WAS MADE AVAILABLE TO EACH BOARD MEMBER IN ADVANCE OF THE FILING DATE. | |
| 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 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. | |
| 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 | HOURS PROVIDED TO RELATED ORGANIZATION: EMPLOYEE: NEILL R. MCGEACHY HOURS PER WEEK: 10 RELATED ORGANIZATION: PIEDMONT EDUCATIONAL FOUNDATION PIEDMONT EDUCATIONAL FOUNDATION, INC. PAID 55,762 OF TOTAL COMPENSATION FOR HIS SERVICES TO THAT ORGANIZATION. | |
| FORM 990, PART XI, LINE 9: | NONCASH CONTRIBUTION -17,069. GAIN ON INTEREST RATE SWAP 242,759. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -324,208. NET ASSET CONTRIBUTION FROM LUTHERAN THEOLOGICAL SOUTHERN SEMINARY MERGER 35,603,344. | CHANGES IN NET ASSETS OR FUND BALANCES: |
| FORM 990, PART XII, LINE 2C, FINANCE COMMITTEE: | THE AUDIT COMMITTEE'S PROCESS OF OVERSIGHT AND SELECTION HAS NOT CHANGED SINCE PRIOR YEAR. | |
| FORM 990, SCHEDULE D, PART XI, LINE 2D | ON JULY 1, 2012, THE LUTHERAN THEOLOGICAL SOUTHERN SEMINARY (LTSS)MERGED WITH THE UNIVERSITY. AS THE UNIVERSITY EFFECTIVELY GAINED CONTROL OVER THE ACTIVITIES OF LTSS IN CONNECTION WITH THE MERGER, THE MERGER WAS TREATED AS AN ACQUISITION IN ACCORDANCE WITH GAAP. THE ACQUISITION WAS CONSUMMATED PRIMARILY TO REALIZE SYNERGIES BETWEEN THE UNIVERSITY'S AND LTSS'S EXISTING OPERATIONS. THE RESULTS OF LTSS HAVE BEEN INCLUDED IN THE UNIVERSITY'S FINANCIAL STATEMENTS SINCE JULY 1, 2012.. NO CONSIDERATION WAS TRANSFERRED IN CONNECTION WITH THE MERGER. THE FOLLOWING TABLE SUMMARIZES THE ESTIMATED FAIR VALUES OF THE ASSETS ACQUIRED AND THE LIABILITIES ASSUMED AT THE DATE OF THE MERGER. CASH $ 465,357 ACCOUNTS RECEIVABLE 18,343 PROPERTY, PLANT AND EQUIPMENT 18,155,584 INVESTMENTS 20,595,632 SPLIT-INTEREST AGREEMENTS AND PERPETUAL TRUSTS 984,500 TOTAL ASSETS ACQUIRED 40,219,416 ACCOUNTS PAYABLE, ACCRUED EXPENSES AND DEPOSITS HELD IN CUSTODY FOR OTHERS 389,635 NOTES PAYABLE 4,226,437 TOTAL LIABILITIES ASSUMED 4,616,072 CONTRIBUTION OF LTSS $ 35,603,344 | MERGER WITH LUTHERAN THEOLOGICAL SOUTHERN SEMINARY |
| FORM 990, SCHEDULE K, PART I, COLUMN F | FOR RENOVATION AND PURCHASE OF HOUSING FACILITIES. FOR REFINANCING OF PREVIOUS BOND ISSUE. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part II Form990ScheduleRPartII
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PIEDMONT EDUCATIONAL FOUNDATION | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 7164 | AddressLine1 |
| City | HICKORY | City |
| State | NC | State |
| ZIP Code | 28603 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 566061289 | EIN |
| Primary Activities | PROVIDE ATHLETIC SCHOLARSHIPS FOR LENOIR RHYNE UNIVERSITY | PrimaryActivities |
| Legal Domicile State | NC | LegalDomicileState |
| Exempt Code Section | 501(C)(3) | ExemptCodeSection |
| Public Charity Status | LINE 11A, I | PublicCharityStatus |
| Direct Controlling Entity NA | N/A | DirectControllingEntityNA |
| Controlled Org | 0 | ControlledOrg |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 0 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 1 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Dividends Related Organization | 0 | DividendsRelatedOrganization |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 0 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 1 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 1 | SharingOfFacilities |
| Sharing Of Paid Employees | 1 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 0 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |