AVERETT UNIVERSITY: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- AVERETT UNIVERSITY (EIN 54-0129860)
- Tax period
- 2010-07-01 to 2011-06-30
- Filed
- 2012-05-15
- IRS object ID
- 201201369349302145
- Schema version
- 2010v3.4
- 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 G
- Schedule I
- Schedule J
- Schedule K
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2012-05-15T09:53:31-05:00 | Timestamp |
| Tax Period End Date | 2011-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HARRIS HARVEY NEAL & COLLPCPA'S | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 3424 | AddressLine1 |
| City | DANVILLE | City |
| State | VA | State |
| ZIP Code | 245433424 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 540129860 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | AVERETT UNIVERSITY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | AVER | NameControl |
| Phone | 4347917129 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 420 WEST MAIN STREET | AddressLine1 |
| City | DANVILLE | City |
| State | VA | State |
| ZIP Code | 24541 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | THOM DAVIS | Name |
| Title | CHIEF FINANCIAL OFFICER | Title |
| Phone | 4347917129 | Phone |
| Date Signed | 2012-05-14 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | KATHERINE D MCDANIEL CPA | Name |
| Phone | 4347923220 | Phone |
| Date Prepared | 2012-05-14 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | TIFFANY M FRANKS | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 420 WEST MAIN STREET | AddressLine1 |
| City | DANVILLE | City |
| State | VA | State |
| ZIP Code | 24541 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 38449394 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.AVERETT.EDU | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1859 | YearFormation |
| State Legal Domicile | VA | StateLegalDomicile |
| Activity Or Mission Description | AVERETT UNIVERSITY OFFERS COURSES OF STUDY LEADING TO BACHELOR'S AND MASTER'S DEGREES ON CAMPUS IN DANVILLE, VIRGINIA AND AT REGIONAL CENTERS THROUGHOUT VIRGINIA. AVERETT PREPARES ITS STUDENTS FOR SUCCESSFUL LIVES THROUGH PERSONAL ATTENTION OF EACH STUDENT. IN THE LIBERAL ARTS TRADITION, STUDENTS ARE ENCOURAGED TO ASK AND ANSWER IMPORTANT QUESTIONS, FORM AND DEFEND JUDGEMENTS, AND THOUGHTFULLY EVALUATE DIVERSE VIEWS. IN ACCORDANCE WITH OUR CHRISTIAN HERITAGE, WE VALUE ACADEMIC AND RELIGIOUS FREEDOM, SPIRITUAL GROWTH, ACADEMIC EXCELLENCE, DIVERSITY, AND TOLERANCE. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 27 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 27 | NbrIndependentVotingMembers |
| Total Nbr Employees | 839 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 3954161 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 4068265 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 28408624 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 31233801 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 727351 | InvestmentIncomePriorYear |
| Investment Income Current Year | 3147328 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 33090136 | TotalRevenuePriorYear |
| Total Revenue Current Year | 38449394 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 7066996 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 8417088 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 14054876 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 15257448 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 106540 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 492290 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 10580329 | OtherExpensePriorYear |
| Other Expenses Current Year | 11596943 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 31702201 | TotalExpensesPriorYear |
| Total Expenses Current Year | 35378019 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 1387935 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 3071375 | RevenuesLessExpensesCY |
| Total Assets BOY | 45493820 | TotalAssetsBOY |
| Total Assets EOY | 65651238 | TotalAssetsEOY |
| Total Liabilities BOY | 12636198 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 24301848 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 32857622 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 41349390 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | AVERETT UNIVERSITY OFFERS COURSES OF STUDY LEADING TO BACHELOR'S AND MASTER'S DEGREES ON CAMPUS IN DANVILLE, VIRGINIA AND AT REGIONAL CENTERS THROUGHOUT VIRGINIA. AVERETT PREPARES ITS STUDENTS FOR SUCCESSFUL LIVES THROUGH PERSONAL ATTENTION OF EACH STUDENT. IN THE LIBERAL ARTS TRADITION, STUDENTS ARE ENCOURAGED TO ASK AND ANSWER IMPORTANT QUESTIONS, FORM AND DEFEND JUDGEMENTS, AND THOUGHTFULLY EVALUATE DIVERSE VIEWS. IN ACCORDANCE WITH OUR CHRISTIAN HERITAGE, WE VALUE ACADEMIC AND RELIGIOUS FREEDOM, SPIRITUAL GROWTH, ACADEMIC EXCELLENCE, DIVERSITY, AND TOLERANCE. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 31682644 | Expense |
| Grants | 8417088 | Grants |
| Revenue | 31233801 | Revenue |
| Description | INSTRUCTION IS PROVIDED TO MORE THAN 2500 STUDENTS OFFERING UNDERGRADUATE AND GRADUATE DEGREES THROUGH ITS TRADITIONAL AND PROFESSIONAL STUDIES PROGRAMS. | Description |
| Total Program Service Expense | 31682644 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | 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 | 0 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 1 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | 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 | 1 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 0 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Number Of Employees | 839 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| 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 | 1 | QuidProQuoContributions |
| Quid Pro Quo Disclosure | 1 | QuidProQuoDisclosure |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 1 | FundsToPayPremiums |
| Premiums Paid | 1 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 27 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 27 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | 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 | 1 | 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 | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 0 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ANDREW L FITCH AVERETT UNIVERSITY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 4347917129 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 420 WEST MAIN STREET | AddressLine1 |
| City | DANVILLE | City |
| State | VA | State |
| ZIP Code | 24541 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (29 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| JACKSON E REASOR | ||||||||
| CHAIRPERSON | 1.00 | X | X | 0 | 0 | 0 | ||
| MARRY RIDDLE | ||||||||
| FIRST VICE-CHAIRPERSON | 1.00 | X | X | 0 | 0 | 0 | ||
| CALVIN SNOWDEN | ||||||||
| SECOND VICE-CHAIRPERSON | 1.00 | X | X | 0 | 0 | 0 | ||
| SAMUEL SAUNDERS | ||||||||
| SECRETARY | 1.00 | X | X | 0 | 0 | 0 | ||
| JACOB FRITH II | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| FRANLKLIN MADDIX | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| CLAUDE B OWEN JR | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| JOHN D VIGOUROUX | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| BOBBYE RAYE WOMACK | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| JIM BAUCOM JR | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| ERIC DEATON | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| GONZALEE FORD | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| VIRGINIA W HAMLET | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| JACK SPAINHOUR JR | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| WAYNE OAKES | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| STEVE DANIELS | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| RICHARD ROCCESANO | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| EBB H WILLIAMS III | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| ROSSIE ALSTON JR | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| DANIEL CARLTON | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| WANDA JEFFRESS | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| GLENN PULLEY | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| HENRY SLAYTON JR | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| IRVING BLANK | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| JAMES JENNINGS JR | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| LINDSEY MOYNIHAN | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| HAMPTON WILKINS | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| TIFFANY M FRANKS | ||||||||
| PRESIDENT | 50.00 | X | X | 223686 | 0 | 14911 | X | X |
| STEPHEN AUSBAND | ||||||||
| FORMER VP ACADEMIC AFFAIRS | 50.00 | 102604 | 0 | 9939 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 326290 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 24850 | TotalOtherCompensation |
| Number Individuals GT100 K | 2 | 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 |
|---|---|---|---|---|---|
| BON APPETIT | |||||
| P O BOX 91337 | CHICAGO | IL | 60693 | FOOD SERVICE | 1369256 |
| ARAMARK FACILITY SERVICES | |||||
| 24818 NEWTON PLACE | CHICAGO | IL | 60673 | FACILITIES | 1247947 |
| PTL CONTRACTORS | |||||
| 109 BARTER STREET | DANVILLE | VA | 24541 | CONSTRUCTION | 478360 |
| BLAIR CONSTRUCTION | |||||
| PO BOX 612 | GRETNA | VA | 24557 | CONSTRUCTION | 377769 |
| CENTECH SERVICE CORPORATION | |||||
| PO BOX 573 | DANVILLE | VA | 24543 | HVAC SERVICE | 150495 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 8 | NumberOfContractorsGT100K |
| Government Grants | 303948 | GovernmentGrants |
| All Other Contributions | 3764317 | AllOtherContributions |
| Noncash Contributions | 165943 | NoncashContributions |
| Total Contributions | 4068265 | TotalContributions |
Program Service Revenue ProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | TUITION & FEES | Description |
| Business Code | 900099 | BusinessCode |
| Total Revenue Column | 27484328 | TotalRevenueColumn |
| Related Or Exempt Function Income | 27484328 | RelatedOrExemptFunctionIncome |
Total Oth Program Service Revenue TotalOthProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 3749473 | TotalRevenueColumn |
| Related Or Exempt Function Income | 3749473 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 31233801 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 3147328 | TotalRevenueColumn |
| Exclusion | $3,147,328 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 38449394 | TotalRevenueColumn |
| Related Or Exempt Function Income | 31233801 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $3,147,328 | ExclusionAmount |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8417088 | Total |
| Program Services | 8417088 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 757046 | Total |
| Program Services | 210896 | ProgramServices |
| Management And General | 546150 | ManagementAndGeneral |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 11303224 | Total |
| Program Services | 10442987 | ProgramServices |
| Management And General | 574568 | ManagementAndGeneral |
| Fundraising | 285669 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 364910 | Total |
| Program Services | 309812 | ProgramServices |
| Management And General | 43873 | ManagementAndGeneral |
| Fundraising | 11225 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1981776 | Total |
| Program Services | 1654923 | ProgramServices |
| Management And General | 297199 | ManagementAndGeneral |
| Fundraising | 29654 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 850492 | Total |
| Program Services | 758914 | ProgramServices |
| Management And General | 71066 | ManagementAndGeneral |
| Fundraising | 20512 | Fundraising |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 43559 | Total |
| Management And General | 43559 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 93362 | Total |
| Management And General | 93362 | ManagementAndGeneral |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 106540 | Total |
| Fundraising | 106540 | Fundraising |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 52503 | Total |
| Program Services | 44476 | ProgramServices |
| Management And General | 7589 | ManagementAndGeneral |
| Fundraising | 438 | Fundraising |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1710176 | Total |
| Program Services | 1177786 | ProgramServices |
| Management And General | 510289 | ManagementAndGeneral |
| Fundraising | 22101 | Fundraising |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 317856 | Total |
| Program Services | 304448 | ProgramServices |
| Management And General | 13408 | ManagementAndGeneral |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1692347 | Total |
| Program Services | 1471746 | ProgramServices |
| Management And General | 220601 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 532178 | Total |
| Program Services | 498254 | ProgramServices |
| Management And General | 30430 | ManagementAndGeneral |
| Fundraising | 3494 | Fundraising |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 33387 | Total |
| Program Services | 14836 | ProgramServices |
| Management And General | 18467 | ManagementAndGeneral |
| Fundraising | 84 | Fundraising |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 674125 | Total |
| Program Services | 580084 | ProgramServices |
| Management And General | 94041 | ManagementAndGeneral |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1424847 | Total |
| Program Services | 1226083 | ProgramServices |
| Management And General | 198764 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 316546 | Total |
| Program Services | 303529 | ProgramServices |
| Management And General | 13017 | ManagementAndGeneral |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral | FundraisingFundraising |
|---|---|---|---|---|
| CONTRACTUAL SERVICES | 2489646 | 2391340 | 98306 | |
| ACCREDITATION, ASSESSME | 667901 | 598590 | 69311 | |
| REPAIRS AND MAINTENANCE | 506667 | 446328 | 60339 | |
| STUDENT PROGRAMS AND AC | 467772 | 424765 | 43007 | |
| DUES AND SUBSCRIPTIONS | 457648 | 377295 | 72568 | 7785 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 116423 | Total |
| Program Services | 28464 | ProgramServices |
| Management And General | 83171 | ManagementAndGeneral |
| Fundraising | 4788 | Fundraising |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 35378019 | Total |
| Program Services | 31682644 | ProgramServices |
| Management And General | 3203085 | ManagementAndGeneral |
| Fundraising | 492290 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3958427 | BOY |
| EOY | 5504414 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1298746 | BOY |
| EOY | 1360594 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4252615 | BOY |
| EOY | 4326690 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 126674 | BOY |
| EOY | 574204 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 49950299 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 20758874 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 15230316 | BOY |
| EOY | 29191425 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 17125897 | BOY |
| EOY | 24460773 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3501145 | BOY |
| EOY | 233138 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 45493820 | BOY |
| EOY | 65651238 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1450877 | BOY |
| EOY | 1437511 | EOY |
Grants Payable GrantsPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2605070 | BOY |
| EOY | 2590381 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1669010 | BOY |
| EOY | 2202361 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4681800 | BOY |
| EOY | 14779964 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2023494 | BOY |
| EOY | 2475665 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 205947 | BOY |
| EOY | 815966 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 12636198 | BOY |
| EOY | 24301848 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8050057 | BOY |
| EOY | 14960803 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7215244 | BOY |
| EOY | 8570977 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 17592321 | BOY |
| EOY | 17817610 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 32857622 | BOY |
| EOY | 41349390 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 45493820 | BOY |
| EOY | 65651238 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 3071375 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 5420393 | 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 |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| 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
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 21425244 | BeginningOfYearBalance |
| Contributions | 393468 | Contributions |
| Investment Earnings Or Losses | 3733053 | InvestmentEarningsOrLosses |
| Other Expenditures | 892136 | OtherExpenditures |
| End Of Year Balance | 24659629 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 19865890 | BeginningOfYearBalance |
| Contributions | 716508 | Contributions |
| Investment Earnings Or Losses | 1714759 | InvestmentEarningsOrLosses |
| Other Expenditures | 871913 | OtherExpenditures |
| End Of Year Balance | 21425244 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 24726742 | BeginningOfYearBalance |
| Contributions | 266224 | Contributions |
| Investment Earnings Or Losses | -3479122 | InvestmentEarningsOrLosses |
| Other Expenditures | 1647954 | OtherExpenditures |
| End Of Year Balance | 19865890 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 0.09000 | BoardDesignatedEOYBalance |
| Permanent Endowment EOY Balance | 0.72000 | PermanentEndowmentEOYBalance |
| Term Endowment EOY Balance | 0.19000 | TermEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | 1 | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | 0 | EndowmentsHeldByRelatedOrgs |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 2560831 | InvestmentCostOrOtherBasis |
| Book Value | 2560831 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 34198185 | InvestmentCostOrOtherBasis |
| Depreciation | 10456602 | Depreciation |
| Book Value | 23741583 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 8281073 | InvestmentCostOrOtherBasis |
| Depreciation | 6996183 | Depreciation |
| Book Value | 1284890 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 4910210 | InvestmentCostOrOtherBasis |
| Depreciation | 3306089 | Depreciation |
| Book Value | 1604121 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 29191425 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (9 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| COMMON STOCK | 6049627 | F |
| MUTUAL FUNDS | 4329047 | F |
| BONDS | 2378871 | F |
| U.S. GOVT SECURITIES | 943331 | F |
| REAL ESTATE | 1097893 | F |
| HEDGE FUNDS | 3486855 | F |
| OTHER | 67115 | F |
| CASH AND CASH EQUIVALENTS | 2821097 | C |
| FUNDS HELD IN TRUST BY OTHERS | 3286937 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 24460773 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities (3 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| LIABILITY UNER ANNUITY AND TRUST AGREEMENTS | $130,241 |
| MARK-TO-MARKET SWAP VALUE | $585,725 |
| OTHER DEFERRED REVENUE | $100,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 815966 | TotalOfAmounts |
| Total Revenue | 38449394 | TotalRevenue |
| Total Expenses | 35378019 | TotalExpenses |
| Excess Or Deficit For Year | 3071375 | ExcessOrDeficitForYear |
| Other | $5,420,393 | OtherAmount |
| Total Adjustments | 5420393 | TotalAdjustments |
| Excess Or Deficit Per FS | 8491768 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 30032306 | TotRevenueEtcAuditedFinclStmt |
| Other Revenues | -8417088 | OtherRevenues |
| Revenue Not Rptd F990 | -8417088 | RevenueNotRptdF990 |
| Revenue Subtotal | 38449394 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 38449394 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 26960931 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | -8417088 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | -8417088 | ExpensesNotRptdF990 |
| Expenses Subtotal | 35378019 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 35378019 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | SCHEDULE D, PART V, LINE 4: PROVIDE FUNDS FOR SCHOLARSHIPS, OPERATIONS, MAINTENANCE, AND SUPPORT OF AVERETT UNIVERSITY. SCHEDULE D, PART XII, LINE 2D AND PART XIII, LINE 2D: SCHOLARSHIPS AND GRANTS TOTALING $8,417,088 ARE SHOWN ON THE AUDITED FINANCIAL STATEMENTS AS A SUBTRACTION FROM TUITION AND FEE REVENUE. ON FORM 990, SCHOLARSHIPS AND GRANTS ARE SHOWN AS AN EXPENSE. SCHEDULE D, PART XI, LIND 8: NET ASSETS WERE TRANSFEREED FROM AVERETT UNIVERSITY FOUNDATION IN THE AMOUNT OF $5,420,393. | Explanation |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | 1 | NondiscriminatoryPolicyStmt |
| Policy Statement In Brochures Etc | 1 | PolicyStatementInBrochuresEtc |
| Policy Publ Via Broadcast Media | 1 | 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 | CATALOGS, PUBLICATIONS, BROCHURES, AND ADVERTISING |
| EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE | SCHEDULE E, PART I, LINE 6 | THE UNIVERSITY RECEIVES VARIOUS GOVERNMENT GRANTS. |
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 Non Govt Grants | X | SolicitationOfNonGovtGrants |
| Solicitation Of Govt Grants | X | SolicitationOfGovtGrants |
| Special Fundraising Events | X | SpecialFundraisingEvents |
| Agreement Ref Fundraising | 1 | AgreementRefFundraising |
Fundraiser Activity Information FundraiserActivityInformation
Name Of Organization NameOfOrganization
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CAPITAL DEVELOPMENT SERVICES INC | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 633 W 4TH STREET | AddressLine1 |
| City | WINSTONSALEM | City |
| State | NC | State |
| ZIP Code | 27101 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Activity | CAPITAL CAMPAIGN | Activity |
| Fundraiser Control Of Funds | 0 | FundraiserControlOfFunds |
| Gross Receipts | 0 | GrossReceipts |
| Amount Retained By Contractor | 106540 | AmountRetainedByContractor |
| Net To Organization | 0 | NetToOrganization |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Retained By Contractors | 106540 | TotalRetainedByContractors |
| Licensed States | VA | LicensedStates |
Form990 Schedule G Part IV Form990ScheduleGPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | EXPLANATION OF FUNDRAISING PAYMENTS | Identifier |
| Return Reference | SCHEDULE G, PART I, LINE 2B, COLUMN (V) | ReturnReference |
| Explanation | FEES PAID FOR CONSULTING SERVICES. | Explanation |
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 GRANTS TO STUDENTS | TypeOfGrant |
| Number Of Recipients | 860 | NumberOfRecipients |
| Amount Of Cash Grant | 8417088 | AmountOfCashGrant |
| Amount Of Non Cash Assistance | 0 | AmountOfNonCashAssistance |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | OTHER INFORMATION: | Identifier |
| Return Reference | PART IV: | ReturnReference |
| Explanation | SCHEDULE I, PART I, LINE 2: A-133 AUDIT | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Housing Allowance Or Residence | X | HousingAllowanceOrResidence |
| Club Dues Or Fees | X | ClubDuesOrFees |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Written Employment Contract | X | WrittenEmploymentContract |
| 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | TIFFANY M FRANKS | NamePerson |
| Base Compensation Filing Org | 183171 | BaseCompensationFilingOrg |
| Comp Based On Related Orgs | 0 | CompBasedOnRelatedOrgs |
| Bonus Filing Org | 40000 | BonusFilingOrg |
| Bonus Related Orgs | 0 | BonusRelatedOrgs |
| Other Compensation Filing Org | 515 | OtherCompensationFilingOrg |
| Other Compensation Related Orgs | 0 | OtherCompensationRelatedOrgs |
| Deferred Comp Filing Org | 9210 | DeferredCompFilingOrg |
| Deferred Comp Related Orgs | 0 | DeferredCompRelatedOrgs |
| Nontaxable Benefits Filing Org | 5701 | NontaxableBenefitsFilingOrg |
| Nontaxable Benefits Related Orgs | 0 | NontaxableBenefitsRelatedOrgs |
| Total Compensation Filing Org | 238597 | TotalCompensationFilingOrg |
| Total Compensation Related Orgs | 0 | TotalCompensationRelatedOrgs |
| Comp Report Prior990 Filing Org | 0 | CompReportPrior990FilingOrg |
| Comp Report Prior990 Related Orgs | 0 | CompReportPrior990RelatedOrgs |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | IDA OF THE CITY OF DANVILLE VA | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Issuer EIN | 521321074 | IssuerEIN |
| Date Issued | 2010-12-17 | DateIssued |
| Issue Price | 15000000 | IssuePrice |
| Description Of Purpose | REFUND EXISTING BONDS, CAPITAL, PURCHASES AND IMPROVEMENTS | 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) |
|---|---|---|
| Amount Retired | 220036 | AmountRetired |
| Total Proceeds | 15000000 | TotalProceeds |
| Refunding Escrow | 12395726 | RefundingEscrow |
| Issuance Costs From Proceeds | 270355 | IssuanceCostsFromProceeds |
| Capital Expenditures | 865104 | CapitalExpenditures |
| Amount Unspent | 1468815 | AmountUnspent |
| Year Of Subst Completion | 2012 | YearOfSubstCompletion |
| Current Refunding | 1 | CurrentRefunding |
| Advance Refunding | 0 | AdvanceRefunding |
| Final Allocation Made | 0 | FinalAllocationMade |
| Adequate Books And Recds Maintaind | 1 | AdequateBooksAndRecdsMaintaind |
Form990 Schedule K Part IV Form990ScheduleKPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8038 T Filed | 0 | 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 | BRANCH BANK AND | BusinessNameLine1 |
| Business Name Line2 | TRUST | BusinessNameLine2 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Term Of Hedge | 7.000000000000 | TermOfHedge |
| Superintegrated Hedge | 0 | SuperintegratedHedge |
| Hedge Terminated | 0 | HedgeTerminated |
| Gross Proceeds Invested In GIC | 0 | GrossProceedsInvestedInGIC |
| Gross Proceeds Invested | 0 | GrossProceedsInvested |
| Exception To Rebate | 0 | ExceptionToRebate |
Schedule M IRS990ScheduleM
Works Of Art WorksOfArt
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 2 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 0 | NoncashContribsRptdF990 |
Books And Publications BooksAndPublications
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Noncash Contribs Rptd F990 | 0 | NoncashContribsRptdF990 |
Cars And Other Vehicles CarsAndOtherVehicles
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 1 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 0 | NoncashContribsRptdF990 |
Securities Publicly Traded SecuritiesPubliclyTraded
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 9 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 165943 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | SALE PRICE | MethodOfDeterminingRevenues |
Other Non Cash Contributions Table OtherNonCashContributionsTable (2 entries)
| Non Cash CheckboxNonCashCheckbox | DescriptionDescription | Number Of ContributionsNumberOfContributions | Noncash Contribs Rptd F990NoncashContribsRptdF990 |
|---|---|---|---|
| X | HORSES | 3 | 0 |
| X | MIC SERVICES | 6 | 0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of8283 Received | 7 | NumberOf8283Received |
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | 0 | ReviewProcessUnusualNCGifts |
| Third Parties Used | 0 | ThirdPartiesUsed |
Form990 Schedule M Part II Form990ScheduleMPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: | Identifier |
| Return Reference | PART I, COLUMN (B): | ReturnReference |
| Explanation | LINES 1, 4, 6, 25, 26: WITH THE EXCEPTION OF GIFTS OF SECURITIES, AVERETT UNIVERSITY DOES NOT RECORD NON-CASH CONTRIBUTIONS. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (6 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| FORM 990, PART VI, SECTION B, LINE 11 | FORM 990 IS PREPARED BY A CPA FIRM, REVIEWED BY AVERETT'S CFO, SUBMITTED TO AVERETT'S PRESIDENT AND BOARD MEMBERS, AND THEN FILED. | |
| EACH MEMBER OF THE BOARD OF TRUSTEES SIGNS AN ANNUAL DISCLOSURE NOTIFYING THE UNIVERSITY OF ANY CONFLICTS OF INTEREST AND THEIR ACKNOWLEDGEMENT OF THE CONFLICT OF INTEREST POLICY. | FORM 990, PART VI, SECTION B, LINE 12C | |
| EXECUTIVE COMMITTEE REVIEWS COMPARABLE DATA WITH PEER INSTITUTIONS AND APPROVES THE PRESIDENT'S EMPLOYMENT CONTRACT. | FORM 990, PART VI, SECTION B, LINE 15A | |
| ALL GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. | FORM 990, PART VI, SECTION C, LINE 19 | |
| CHANGES IN NET ASSETS OR FUND BALANCES: | ASSETS/LIABILITIES OF AVERETT UNIV FOUNDATION WERE TRANSFERRED TO THE UNIV 5,420,393. TOTAL TO FORM 990, PART XI, LINE 5: 5,420,393. | FORM 990, PART XI, LINE 5: |
| THERE HAVE BEEN NO CHANGES. | FORM 990, PART XII, LINE 2C: |
Schedule R IRS990ScheduleR
Form990 Schedule R Part II Form990ScheduleRPartII
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | AVERETT UNIVERSITY FOUNDATION | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 420 WEST MAIN STREET | AddressLine1 |
| City | DANVILLE | City |
| State | VA | State |
| ZIP Code | 24541 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 201935781 | EIN |
| Primary Activities | SUPPORT OF AVERETT UNIVERSITY | PrimaryActivities |
| Legal Domicile State | VA | LegalDomicileState |
| Exempt Code Section | 501(C)(3) | ExemptCodeSection |
| Public Charity Status | LINE 11B, II | 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 | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| 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 | 0 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 0 | SharingOfFacilities |
| Sharing Of Paid Employees | 0 | 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 | 1 | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable
Name Of Other Organization NameOfOtherOrganization
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | AVERETT UNIVERSITY FOUNDATION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | R | TransactionType |
| Amount Involved | 5420393 | AmountInvolved |
| Method Of Amt Determination | BOOK VALUE | MethodOfAmtDetermination |
Form990 Schedule R Part VII Form990ScheduleRPartVII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | PART 5, LINE 2 (2) - ALL ASSETS, LIABILITIES AND FUND BALANCES WERE TRANSFERRED TO AVERETT UNIVERSITY ON DECEMBER 17, 2010. | Explanation |