2014-05-15T09:24:15-05:00 2013-06-30 540504608 BROWN EDWARDS & COMPANY LLP 319 MCCLANAHAN ST ROANOKE VA 24014 990 2012-07-01 540505940 RANDOLPH-MACON COLLEGE RAND 8047988372 POST OFFICE BOX 5005 ASHLAND VA 230055505 ROBERT R LINDGREN 8047988372 2014-05-14 1 MARK WOOLWINE P00647446 5403450936 2012 2015-11-30 17:44:51Z ROBERT R LINDGREN POST OFFICE BOX 5005 ASHLAND VA 230055505 75464182 0 X WWW.RMC.EDU X 1830 VA SEE STATEMENT ON SCHEDULE O.RANDOLPH-MACON COLLEGE IS AN INSTITUTION OF HIGHER EDUCATION, OFFERING BACCALAUREATE DEGREES IN A LIBERAL ARTS CURRICULUM. 44 42 1157 150 554685 -73091 10641002 9413141 49726505 53754925 4342690 10780428 933118 639541 65643315 74588035 19821179 22152597 0 0 24614043 24977413 62840 42126 2419394 18854037 17718287 63352099 64890423 2291216 9697612 219346600 233836844 52128385 53219747 167218215 180617097 X SEE STATEMENT ON SCHEDULE O.RANDOLPH-MACON IS AN UNDERGRADUATE, COEDUCATIONAL COLLEGE OF THE LIBERAL ARTS. THE PURPOSE OF A RANDOLPH-MACON EDUCATION IS TO DEVELOP THE MIND AND THE CHARACTER OF ITS STUDENTS. THEY ARE CHALLENGED TO COMMUNICATE EFFECTIVELY, TO THINK ANALYTICALLY AND CRITICALLY, TO EXPERIENCE AND APPRECIATE THE CREATIVE PROCESS, TO DEVELOP QUALITIES OF LEADERSHIP, AND TO SYNTHESIZE WHAT THEY KNOW WITH WHO THEY ARE. AT RANDOLPH-MACON COLLEGE THE LIBERAL ARTS CONSTITUTE A COMPREHENSIVE EDUCATIONAL OPPORTUNITY. THE CURRICULUM INCLUDES EXPOSURE BOTH TO BROAD PERSPECTIVES AND SPECIFIC CONCEPTS. STUDENTS EXPLORE THE NATURAL AND SOCIAL SCIENCES, THE ARTS, AND THE HUMANITIES, WHILE THEY ALSO ACHIEVE A DEEPER UNDERSTANDING OF THE SINGLE DISCIPLINE IN WHICH THEY MAJOR. THEY ARE GUIDED IN THIS ENDEAVOR BY A FACULTY OF TEACHER-SCHOLARS WHO ARE DEDICATED TO THE LIBERAL ARTS AND ACTIVE IN THEIR PROFESSIONAL DISCIPLINES AND IN THE EXTRA-CURRICULAR LIFE OF THE CAMPUS. 0 0 58211337 22152597 53843046 RANDOLPH-MACON COLLEGE IS AN INSTITUTION OF HIGHER EDUCATION PROVIDING A FOUR YEAR LIBERAL ARTS CURRICULUM TO APPROXIMATELY 1,300 STUDENTS. 58211337 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 76 0 1 1157 1 1 1 0 0 0 0 0 0 0 0 0 X 44 42 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JOHN CONKRIGHT ASST SECRETARY TO 8047527211 204 HENRY STREET ASHLAND VA 23005 BRUCE J ADKINS 1.00 X 0 0 0 YVONNE W BRANDON EDD 1.00 X 0 0 0 L PRESTON BRYANT JR THE HON 1.00 X 0 0 0 J W WHITING CHISMAN JR 1.00 X 0 0 0 JOHN P CLARKE MD 1.00 X 0 0 0 RALPH R CROSBY JR 1.00 X 0 0 0 JAMES A DAVIS PHD 1.00 X 0 0 0 SANJAY TANDON 1.00 X 0 0 0 ROBIN ANNE FLOYD 1.00 X X 0 0 0 DOUGLAS W FOARD PHD 1.00 X 0 0 0 CYNTHIA H LEE 1.00 X 0 0 0 TIMOTHY P O'BRIEN 1.00 X 0 0 0 SUSAN D SCHICK 1.00 X 0 0 0 MICHAEL A JESSE PHD 1.00 X 0 0 0 WILLIAM B KILDUFF ESQ 1.00 X 0 0 0 CHARLES B KING REV HON DDIV 1.00 X 0 0 0 FRANK E LAUGHON JR 1.00 X 0 0 0 ROBERT R LINDGREN ESQ 40.00 X X 262461 0 194805 STEPHEN P LONG MD 1.00 X 0 0 0 E JACKSON LUCK 1.00 X 0 0 0 ANDREW K MALONEY ESQ 1.00 X 0 0 0 FRANK J MURPHY III 1.00 X 0 0 0 ALLISON M O'BRIEN 1.00 X 0 0 0 MARK V OGREN REV 1.00 X 0 0 0 STEVEN M PARKER 1.00 X 0 0 0 HAYWOOD A PAYNE JR 1.00 X X 0 0 0 DONALD E PERRY 1.00 X 0 0 0 ALAN B RASHKIND ESQ 1.00 X X 0 0 0 DIANNE L REYNOLDS-CANE MD 1.00 X 0 0 0 ROBERT E RILEY 1.00 X 0 0 0 BENJAMIN S SCHAPIRO 1.00 X 0 0 0 THOMAS G SHAFRAN 1.00 X 0 0 0 LEE B SPENCER JR ESQ 1.00 X 0 0 0 KATHRYN V STOTTLEMYER 1.00 X 0 0 0 SAMUEL E VICHNESS PHD 1.00 X 0 0 0 R DOUGLAS WHITE 1.00 X 0 0 0 CHARLES S WILSON JR MD 1.00 X 0 0 0 CHARLES W WORNOM 1.00 X 0 0 0 DAVID E YAWARS 1.00 X 0 0 0 JAN M CARTER MD 1.00 X 0 0 0 YOUNG JIN CHO BISHOP 1.00 X 0 0 0 J PETER CLEMENTS 1.00 X 0 0 0 DAVID G MELESKI 1.00 X 0 0 0 WESLEY A NICHOLS 1.00 X 0 0 0 HAROLD E STARKE JR ESQ 1.00 X 0 0 0 JOHN C CONKRIGHT 40.00 X 107909 0 20798 PAUL T DAVIES 40.00 X 153255 0 40991 DIANE M LOWDER 40.00 X 200407 0 41138 WILLIAM T FRANZ 40.00 X 152686 0 19261 DAVID L LESESNE 40.00 X 142801 0 24587 M THOMAS INGE 40.00 X 130788 0 19796 JOHN RUSSELL RABUNG 40.00 X 118191 0 19351 ALPHINE W JEFFERSON 40.00 X 119923 0 13532 THEODORE F SHECKELS JR 40.00 X 117023 0 9324 1505444 0 403583 12 0 1 0 ENGLISH CONSTRUCTION COMPANY INC PO BOX P-7000 LYNCHBURG VA 24505 CONSTRUCTION SERVICES 7119548 CHARTWELLS PO BOX 91337 CHICAGO IL 606931337 FOOD SERVICES 3464901 KJELLSTROM AND LEE INC 1607 OWNBY LANE RICHMOND VA 23220 CONSTRUCTION SERVICES 1178782 BCWH ARCHITECTS 1840 WEST BROAD ST STE 400 RICHMOND VA 23220 ARCHITECTS 744958 HITACHI HIGH TECHNOLOGIES AMERICA PO BOX 70481 CHICAGO IL 60673 SCIENTIFIC EQUIPMENT 399170 20 618498 8794643 801161 9413141 TUITION AND FEES 611310 42735925 42735925 AUXILIARY SERVICES 611310 11019000 10647668 371332 53754925 2518188 5320 2512868 59300 57245 2055 2055 2055 8262240 0 8262240 8262240 8262240 830222 818902 11320 -166713 178033 MISCELLANEOUS PROGRAMS 900099 626166 626166 626166 74588035 53843046 554685 10777163 22152597 22152597 1171922 422705 409787 339430 18508019 16367282 923561 1217176 1412125 1084866 225915 101344 2552608 2089822 346439 116347 1332739 1033476 206649 92614 122802 122802 94379 94379 42126 42126 762760 762760 134500 118405 3945 12150 806314 758368 25617 22329 2595086 2048759 226070 320257 883931 761156 98220 24555 2688896 2641647 45056 2193 544079 416789 24808 102482 816086 604850 104864 106372 983712 949557 33130 1025 2677986 2543078 130861 4047 321990 321990 STUDENT FOOD SERVICE 3134529 3134529 INTERCOLLEGIATE ATHLETI 1274127 1274127 OTHER SUPPLIES, SERVICE 1018150 782805 230146 5199 POST RETIREMENT BENEFIT -1141040 -973481 -77307 -90252 64890423 58211337 4259692 2419394 6689171 9402503 11621829 3122856 7066957 6901594 2057810 2112778 4442750 4424432 208487 267126 119208742 44394875 64859397 74813867 88274468 90937756 31658673 39077559 2467058 2776373 219346600 233836844 4289553 5866620 2247229 2095956 30505000 30220000 95793 47196 14990810 14989975 52128385 53219747 X 87460804 101229035 35312673 32093978 44444738 47294084 167218215 180617097 219346600 233836844 X 9697612 4573567 -872297 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 2048 2048 0 EXPLANATION OF LOBBYING ACTIVITIES: PART II-B, LINE 1: THE COLLEGE IS A MEMBER OF THE COUNCIL OF INDEPENDENT COLLEGES IN VIRGINIA (CICV), AN ASSOCIATION OF 29 INDEPENDENT COLLEGES AND UNIVERSITIES. CICV WORKS TO PROMOTE THE INTERESTS OF NON-PROFIT, INDEPENDENT HIGHER EDUCATION IN VIRGINIA. CICV WORKED TO INITIATE AND CONTINUES TO PROMOTE THE STATE'S NON-NEED BASED TUITION ASSISTANCE PROGRAM FOR VIRGINIA STUDENTS ATTENDING A PRIVATE INSTITUTION. ADDITIONALLY, CICV MONITORS LEGISLATIVE AND REGULATORY ACTIONS WHICH AFFECT THE MEMBERSHIP BY A PRESENCE DURING THE GENERAL ASSEMBLY SESSIONS TO REVIEW PROPOSED LEGISLATION AND INTERACT WITH VARIOUS ADMINISTRATIVE AGENCIES. CICV IS ENGAGED IN PROMOTING THE AWARENESS OF VIRGINIA'S INDEPENDENT COLLEGES TO POTENTIAL STUDENTS THROUGH PUBLICATIONS AND BY SPONSORING VA PRIVATE COLLEGE WEEK. CICV ALSO PROVIDES ANALYZED DATA TO MEMBER INSTITUTIONS AND APPROPRIATE STATE AGENCIES TO PROMOTE VENTURES WHERE EFFICIENCIES CAN BE ACHIEVED BY THE PARTICIPATION OF A GROUP OF INSTITUTIONS. THE COLLEGE PAYS A MEMBERSHIP FEE BASED UPON STUDENT POPULATION. FOR THE YEAR ENDED JUNE 30, 2013, CICV EXPENDED APPROXIMATELY 11.7% OF THE MEMBERSHIP FEE FOR LOBBYING ACTIVITIES. THE COLLEGE IS A MEMBER OF THE NATIONAL ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES (NAICU). NAICU SERVES AS THE UNIFIED NATIONAL VOICE OF INDEPENDENT HIGHER EDUCATION. SINCE 1976, THE ASSOCIATION HAS REPRESENTED PRIVATE COLLEGES AND UNIVERSITIES ON POLICY ISSUES WITH THE FEDERAL GOVERNMENT, SUCH AS THOSE AFFECTING STUDENT AID, TAXATION, AND GOVERNMENT REGULATION. THE NAICU STAFF MEETS WITH POLICYMAKERS, TRACKS CAMPUS TRENDS, CONDUCTS RESEARCH, ANALYZES HIGHER EDUCATION ISSUES, PUBLISHES INFORMATION, HELPS COORDINATE STATE-LEVEL ACTIVITIES, AND ADVISES MEMBERS OF LEGISLATIVE AND REGULATORY DEVELOPMENTS WITH POTENTIAL IMPACT ON THEIR INSTITUTIONS. NAICU SPEARHEADED INITIATIVES INCLUDE THE STUDENT AID ALLIANCE, AN EFFORT TO ENHANCE FUNDING FOR EXISTING STUDENT AID PROGRAMS, AND THE NONPARTISAN NATIONAL CAMPUS VOTER REGISTRATION PROJECT. NAICU'S 1,000 MEMBERS NATIONWIDE REFLECT THE DIVERSITY OF PRIVATE, NONPROFIT HIGHER EDUCATION IN THE UNITED STATES. MEMBERS INCLUDE TRADITIONAL LIBERAL ARTS COLLEGES, MAJOR RESEARCH UNIVERSITIES, CHURCH- AND FAITH-RELATED INSTITUTIONS, HISTORICALLY BLACK COLLEGES AND UNIVERSITIES, WOMEN'S COLLEGES, PERFORMING AND VISUAL ARTS INSTITUTIONS, TWO-YEAR COLLEGES, AND SCHOOLS OF LAW, MEDICINE, ENGINEERING, BUSINESS, AND OTHER PROFESSIONS. NAICU IS COMMITTED TO CELEBRATING AND PROTECTING THIS DIVERSITY OF THE NATION'S PRIVATE COLLEGES AND UNIVERSITIES. FOR THE YEAR ENDED JUNE 30, 2013, NAICU EXPENDED APPROXIMATELY 6% OF THE MEMBERSHIP FEE FOR LOBBYING ACTIVITIES. 1422488 X X X 0 118586298 2977348 14491352 1282876 4852137 160099 129759886 120318665 3673013 1445389 1259119 5556471 35179 118586298 103125070 1986950 22427480 1255518 5526873 438444 120318665 96099380 1289142 13515077 1288186 4035581 2454762 103125070 127907075 2145753 -28490056 1159485 4303907 96099380 0.49540 0.34060 0.16400 1 0 4319610 4319610 84183661 30878877 53304784 308834 52759 256075 17557395 13463239 4094156 12839242 12839242 74813867 CASH AND TEMPORARY INVESTMENTS 1016552 F MARKETABLE ALTERNATIVE ASSETS 22792789 F NONMARKETABLE ALTERNATIVE ASSETS 7097307 F REAL ESTATE/MORTGAGES AND OTHER 8170911 F 39077559 ANNUITIES PAYABLE 1727137 POST RETIREMENT BENEFIT LIABILITY 9956855 REFUNDABLE LOAN PROGRAMS 2433686 INTEREST RATE SWAP AGREEMENT LIABILITY 872297 14989975 X 57295959 4573567 1049714 5623281 51672678 762760 22152597 22915357 74588035 43897077 876147 876147 43020930 762760 21106733 21869493 64890423 PART III, LINE 4: RANDOLPH-MACON COLLEGE MAINTAINS A COLLECTION OF ORIGINAL ART WHICH SERVES AS A PRIMARY SOURCE FOR RESEARCH, EDUCATION AND EDIFICATION. BUILT AROUND A DONATION OF ORIENTAL ART FROM THE ESTATE OF SENATOR HUGH SCOTT, AN ALUMNUS OF THE COLLEGE, THE PRESENT COLLECTION HAS BEEN FORMED MOSTLY FROM DONATIONS TO FURTHER THE PERMANENT HOLDINGS IN ART FOR THE BENEFIT OF FACULTY AND STUDENTS. NO ASPECT OR ITEM FROM THE PERMANENT COLLECTION IS OFFERED FOR SALE OR PURCHASE; THE COLLECTION REMAINS INTACT FOR ACADEMIC STUDY. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVEUNE CODE. THE FEDERAL FORM 990 OF THE COLLEGE ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: BOOK STORE COST OF GOODS SOLD NETTED AGAINST INCOME 818,902. RENTAL EXPENSES NETTED AGAINST INCOME 57,245. CHANGE IN VALUE OF INTEREST RATE SWAP -872,297. CHANGE IN POSTRETIREMENT BENEFIT OBLIGATION 1,141,040. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -95,176. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND FINANCIAL AID PAID 22,152,597. PART XII, LINE 2D - OTHER ADJUSTMENTS: BOOK STORE COST OF GOODS SOLD NETTED AGAINST INCOME 818,902. RENTAL EXPENSES NETTED AGAINST INCOME 57,245. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND FINANCIAL AID PAID 22,152,597. CHANGE IN POSTRETIREMENT BENEFIT OBLIGATION -1,141,040. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 95,176. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE COLLEGE'S NON-DISCRIMINATORY POLICY IS STATED IN THE COLLEGE CATALOG, ADMISSIONS BROCHURES AND IN RECRUITING MATERIALS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES FEDERAL FINANCIAL AID MOST OF WHICH IS PASSED THROUGH TO STUDENTS. X X X X X X 1 GRENZEBACH GLIER & ASSOCIATES 401 N MICHIGAN AVENUE STE 2800 CHICAGO IL 60611 CAMPAIGN CONSULTATION 0 0 11433 -11433 RUFFALO CODY PO BOX 3018 CEDAR RAPIDS IA 524063018 TELEPHONE SOLICITATIONS 0 0 30693 -30693 42126 -42126 VA 1 COLLEGE DESIGNATED (UNFUNDED) GRANTS AND SCHOLARSHIPS 1074 20342936 DONOR RESTRICTED (FUNDED) GRANTS AND SCHOLARSHIPS 459 1712610 FEDERAL SUPPLEMENTAL GRANTS 100 97051 X X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 ROBERT R LINDGREN ESQ 255896 0 0 0 6565 0 159500 0 35305 0 457266 0 0 0 PAUL T DAVIES 152481 0 0 0 774 0 29780 0 11211 0 194246 0 0 0 DIANE M LOWDER 143715 0 50000 0 6692 0 30567 0 10571 0 241545 0 0 0 WILLIAM T FRANZ 152686 0 0 0 0 0 13843 0 5418 0 171947 0 0 0 DAVID L LESESNE 142531 0 0 0 270 0 13416 0 11171 0 167388 0 0 0 M THOMAS INGE 127080 0 0 0 3708 0 11924 0 7872 0 150584 0 0 0 A INDUSTRIAL DEVELOPMENT AUTHORITY OF THE TOWN OF ASHLAND VIRGINIA 521353936 2004-12-15 4900000 RENOVATE DORMITORIES, REFURBISH GYM, UPGRADE HVAC IN GYM & ADDITIONAL DORMS 0 0 0 B ECONOMIC DEVELOPMENT AUTHORITY OF THE TOWN OF ASHLAND VIRGINIA 521353936 2011-04-01 10000000 CONSTRUCT DORMITORY, RENNOVATE HOUSE, OTHER CAPITAL IMPROVEMENTS 0 0 0 C ECONOMIC DEVELOPMENT AUTHORITY OF THE TOWN OF ASHLAND VIRGINIA 521353936 2013-02-01 10000000 REFINANCE SER. 1998 VCBA REVENUE BOND 0 0 0 A 4900000 59895 2007 0 0 1 1 B 10000000 10000000 123450 2011 0 0 1 1 C 10000000 251942 2013 0 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 A 0 B 0 C 0 E JACKSON LUCK TRUSTEE 16281 JACKSON LUCK IS A PRINCIPAL IN LUCK MOTORS, A LOCAL CHEVROLET DEALER. THE COLLEGE PURCHASED A USED VEHICLE, PARTS AND LABOR FROM THE DEALERSHIP DURING THE YEAR. 0 MARK OGREN TRUSTEE 10000 MARK OGREN IS MARRIED TO MARGIE TURBYFILL, WHO PROVIDES CAREER COUNSELING TO STUDENTS IN THE PURNELL BAILEY PRE-MINISTERIAL PROGRAM ON A CONTRACTED BASIS. 0 WILLIAM F CARNE PHD FORMER TRUSTEE 78125 WILLIAM F. CARNE IS MARRIED TO LINDA CARNE WHO WAS HIRED AS A DIRECTOR FOR THE MAJOR CAREER COUNSELING PROGRAM, STARTING FEBRUARY 2012. AT THE END OF FISCAL YEAR 2012, MR. CARNE STEPPED DOWN AS TRUSTEE. LINDA CARNE'S GROSS COMPENSATION DURING FY13 WAS $65,325.WILLIAM F. CARNE IS THE FATHER OF CARA CARNE WHO WAS HIRED ON 2/7/13 AS A DEVELOPMENT INTERN IN THE OFFICE OF COLLEGE ADVANCEMENT. CARA CARNE'S GROSS COMPENSATION DURING FY13 WAS $12,800. 0 X 56 764866 AVE HIGH/LOW AT TRANSFER X LIFE INSURANCE POLICIES 1 31002 COMPANY VALUATION X CUSTOM WEATHER VANE 1 5293 DONOR VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 PROCESS FOR REVIEWING 990: THE TREASURER, CONTROLLER AND PRESIDENT CONSULT TO DETERMINE THAT A DRAFT OF THE 990 FORM IS ACCURATE TO THE BEST OF THEIR KNOWLEDGE. THE DRAFT IS THEN MADE AVAILABLE TO ALL MEMBERS OF THE BOARD OF TRUSTEES (BOT) ELECTRONICALLY. CORRECTIONS, COMMENTS AND SUGGESTIONS FROM ALL MEMBERS ARE COMPILED AND, AS APPROPRIATE, INCORPORATED INTO THE RETURN, AND, BY CHARTER MANADATE, THE AUDIT COMMITTEE OF THE BOT REVIEWS THE DRAFT BEFORE FINAL FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY EACH FALL THE ASSISTANT SECRETARY TO THE BOARD OF TRUSTEES DISTRIBUTES THE CONFLICT OF INTEREST DISCLOSURE STATEMENTS TO THE TRUSTEES AND TO COVERED EMPLOYEES. HE IS RESPONSIBLE FOR ENSURING THAT ALL DISTRIBUTED STATEMENTS ARE COMPLETED AND RETURNED AND REVIEWED FOR POTENTIAL CONFLICTS. THE VICE PRESIDENT FOR FINANCE AND ADMINISTRATION REPORTS THE RESULTS OF THE QUESTIONNAIRES TO THE AUDIT COMMITTEE OF THE BOARD. THE AUDIT COMMITTEE REPORTS CONFLICTS TO THE FULL BOARD FOR APPROPRIATE RESOLUTION. FORM 990, PART VI, SECTION B, LINE 15 LINE 15A: A COMMITTEE APPOINTED BY THE CHAIR OF THE BOARD OF TRUSTEES, CHAIRED BY A MEMBER OF THE BOARD OF TRUSTEES, AND CONSISTING IN MAJORITY OF TRUSTEES, WORKED WITH AND WAS ADVISED BY A PROFESSIONAL SEARCH CONSULTANT TO SELECT AND HIRE A NEW PRESIDENT OF THE COLLEGE WHOSE CONTRACT WAS NEGOTIATED IN 2006. ANNUALLY THEREAFTER, THE PRESIDENT'S PERFORMANCE WAS EVALUATED AND HIS COMPENSATION REVIEWED BY A SPECIAL COMMITTEE OF TRUSTEES APPOINTED FOR THAT EXPRESS PURPOSE BY THE CHAIR OF THE BOARD OF TRUSTEES. THEIR DELIBERATIONS INCLUDED REVIEW OF DATA FROM THE 990S OF OTHER INSTITUTIONS AND OF SURVEYS ON PRESIDENTIAL COMPENSATION AVAILABLE THROUGH MULTIPLE SOURCES. IN EARLY 2013, DURING NEGOTIATIONS FOR A NEW CONTRACT, THIS COMPENSATION COMMITTEE DELIBERATED TERMS FOR THE COLLEGE, REFERENCING MULTIPLE COMPARABLE PRESIDENTIAL SALARY SURVEYS WITH ASSISTANCE FROM ATTORNEYS FAMILIAR WITH EXECUTIVE CONTRACTS AND FROM A COLLEGE AND UNIVERSITY PRESIDENTIAL SEARCH CONSULTANT FAMILIAR WITH CONTRACTS AND COMPENSATION. THE PRESIDENT WAS REPRESENTED BY INDEPENDENT COUNSEL, AND NEGOTIATIONS CULMINATED IN A CONTRACT RATIFIED BY THE BOARD OF TRUSTEES IN 2013. FORM 990, PART VI, SECTION C, LINE 18 UPON REQUEST FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP -872,297. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. LINE 12 ADVERTISING FORM 990, PART IX, LINE 12: ADVERTISING AND PROMOTION EXPENSES INCLUDE, BUT ARE NOT LIMITED TO, THE PRINTING AND PUBLICATION OF MATERIALS TO MAKE POTENTIAL STUDENTS AWARE OF THE COLLEGE'S PROGRAMS AND OPPORTUNITIES. THIS LINE ALSO INCLUDES THE EXPENSES OF PUBLICIZING EVENTS AND ACTIVITIES SPONSORED BY ALUMNI RELATIONS, OFFICE OF ADVANCEMENT, ATHLETICS AND OTHER DEPARTMENTS ON CAMPUS TO STUDENTS, FACULTY, STAFF, ALUMNI AND THE GENERAL PUBLIC. CONTINUATION OF MISSION STATEMENT FORM 990, PART III, LINE 1: AT RANDOLPH-MACON THE MATURATION AND TESTING OF THE SKILLS, VALUES, AND CHARACTER REQUIRED FOR A LIFETIME OF CHALLENGES EXTENDS BEYOND THE CLASSROOM. STUDENTS ARE ENCOURAGED TO MEET WITH FACULTY BOTH SOCIALLY AND INTELLECTUALLY, AND THEY HAVE THE OPPORTUNITY TO PARTICIPATE IN A VARIETY OF EXTRA-CURRICULAR ACTIVITIES. INTERACTION WITHIN THE COLLEGE COMMUNITY IS ASSURED BY RESIDENTIAL ENVIRONMENT AND AN ENROLLMENT OF APPROXIMATELY THIRTEEN HUNDRED. LOCATED IN ASHLAND, VIRGINIA RANDOLPH-MACON COLLEGE OFFERS A CURRICULUM AND A CULTURAL LIFE ENRICHED BY THE CLOSE PROXIMITY OF METROPOLITAN RICHMOND AND WASHINGTON, D.C. A RANDOLPH-MACON EDUCATION CONVEYS A SENSE OF LIFE DEFINED BY HISTORICAL CONTINUITY AND ETHICAL RESPONSIBILITY. FOUNDED BY METHODISTS IN 1830, RANDOLPH-MACON IS AN INDEPENDENT COLLEGE THAT RETAINS A RELATIONSHIP WITH THE UNITED METHODIST CHURCH. THROUGH THIS LIVING TIE THE COLLEGE DRAWS STRENGTH FROM A RELIGIOUS TRADITION THAT NURTURES CREATIVE SOCIAL CHANGE AND PERSONAL ACCOUNTABILITY. RANDOLPH-MACON BELIEVES THAT A LIBERAL ARTS EDUCATION CHALLENGES THE INTELLECT, IMAGINATION, AND CHARACTER. GRADUATES OF THE COLLEGE HAVE THE CAPACITY TO REALIZE THEIR POTENTIAL AS PROFESSIONALS, LEADERS, AND LIFELONG LEARNERS. THE COMPREHENSIVE NATURE OF A LIBERAL ARTS EDUCATION AT RANDOLPH-MACON COLLEGE PREPARES STUDENTS TO RESPOND TO THE CHANGING CAREER OPPORTUNITIES AND TO MEET LIFE'S CHALLENGES WITH CONFIDENCE, ENTHUSIASM, AND ETHICAL AWARENESS. LINE 24C: OTHER SUPPLIES AND SERVICES FORM 990, PART IX, LINE 24C: THIS AMOUNT INCLUDES PURCHASES OF SUPPLIES, EQUIPMENT AND MAINTENANCE EXPENSE AS WELL AS ACTIVITIES RELATED TO CLASSROOMS, LABORATORIES AND OTHER DEPARTMENTS.