2012-05-15T09:53:31-05:00 2011-06-30 HARRIS HARVEY NEAL & COLLPCPA'S PO BOX 3424 DANVILLE VA 245433424 990 2010-07-01 540129860 AVERETT UNIVERSITY AVER 4347917129 420 WEST MAIN STREET DANVILLE VA 24541 THOM DAVIS 4347917129 2012-05-14 1 KATHERINE D MCDANIEL CPA 4347923220 2012-05-14 2010 2016-02-24 21:20:13Z TIFFANY M FRANKS 420 WEST MAIN STREET DANVILLE VA 24541 38449394 0 X WWW.AVERETT.EDU X 1859 VA 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. 27 27 839 0 0 0 3954161 4068265 28408624 31233801 727351 3147328 0 0 33090136 38449394 7066996 8417088 0 0 14054876 15257448 0 106540 492290 10580329 11596943 31702201 35378019 1387935 3071375 45493820 65651238 12636198 24301848 32857622 41349390 X 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. 0 0 31682644 8417088 31233801 INSTRUCTION IS PROVIDED TO MORE THAN 2500 STUDENTS OFFERING UNDERGRADUATE AND GRADUATE DEGREES THROUGH ITS TRADITIONAL AND PROFESSIONAL STUDIES PROGRAMS. 31682644 1 1 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 0 0 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 1 0 0 839 1 0 0 0 0 0 1 1 0 1 1 0 X 27 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X ANDREW L FITCH AVERETT UNIVERSITY 4347917129 420 WEST MAIN STREET DANVILLE VA 24541 JACKSON E REASOR 1.00 X X 0 0 0 MARRY RIDDLE 1.00 X X 0 0 0 CALVIN SNOWDEN 1.00 X X 0 0 0 SAMUEL SAUNDERS 1.00 X X 0 0 0 JACOB FRITH II 1.00 X 0 0 0 FRANLKLIN MADDIX 1.00 X 0 0 0 CLAUDE B OWEN JR 1.00 X 0 0 0 JOHN D VIGOUROUX 1.00 X 0 0 0 BOBBYE RAYE WOMACK 1.00 X 0 0 0 JIM BAUCOM JR 1.00 X 0 0 0 ERIC DEATON 1.00 X 0 0 0 GONZALEE FORD 1.00 X 0 0 0 VIRGINIA W HAMLET 1.00 X 0 0 0 JACK SPAINHOUR JR 1.00 X 0 0 0 WAYNE OAKES 1.00 X 0 0 0 STEVE DANIELS 1.00 X 0 0 0 RICHARD ROCCESANO 1.00 X 0 0 0 EBB H WILLIAMS III 1.00 X 0 0 0 ROSSIE ALSTON JR 1.00 X 0 0 0 DANIEL CARLTON 1.00 X 0 0 0 WANDA JEFFRESS 1.00 X 0 0 0 GLENN PULLEY 1.00 X 0 0 0 HENRY SLAYTON JR 1.00 X 0 0 0 IRVING BLANK 1.00 X 0 0 0 JAMES JENNINGS JR 1.00 X 0 0 0 LINDSEY MOYNIHAN 1.00 X 0 0 0 HAMPTON WILKINS 1.00 X 0 0 0 TIFFANY M FRANKS 50.00 X X X X 223686 0 14911 STEPHEN AUSBAND 50.00 X 102604 0 9939 326290 0 24850 2 0 1 0 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 8 303948 3764317 165943 4068265 TUITION & FEES 900099 27484328 27484328 3749473 3749473 31233801 3147328 3147328 38449394 31233801 0 3147328 8417088 8417088 757046 210896 546150 11303224 10442987 574568 285669 364910 309812 43873 11225 1981776 1654923 297199 29654 850492 758914 71066 20512 43559 43559 93362 93362 106540 106540 52503 44476 7589 438 1710176 1177786 510289 22101 317856 304448 13408 1692347 1471746 220601 532178 498254 30430 3494 33387 14836 18467 84 674125 580084 94041 1424847 1226083 198764 316546 303529 13017 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 116423 28464 83171 4788 35378019 31682644 3203085 492290 3958427 5504414 1298746 1360594 4252615 4326690 126674 574204 49950299 20758874 15230316 29191425 17125897 24460773 3501145 233138 45493820 65651238 1450877 1437511 2605070 2590381 1669010 2202361 4681800 14779964 2023494 2475665 205947 815966 12636198 24301848 X 8050057 14960803 7215244 8570977 17592321 17817610 32857622 41349390 45493820 65651238 X 3071375 5420393 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 21425244 393468 3733053 892136 24659629 19865890 716508 1714759 871913 21425244 24726742 266224 -3479122 1647954 19865890 0.09000 0.72000 0.19000 1 0 2560831 2560831 34198185 10456602 23741583 8281073 6996183 1284890 4910210 3306089 1604121 29191425 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 24460773 LIABILITY UNER ANNUITY AND TRUST AGREEMENTS 130241 MARK-TO-MARKET SWAP VALUE 585725 OTHER DEFERRED REVENUE 100000 815966 38449394 35378019 3071375 5420393 5420393 8491768 30032306 -8417088 -8417088 38449394 0 38449394 26960931 -8417088 -8417088 35378019 0 35378019 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. 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 CATALOGS, PUBLICATIONS, BROCHURES, AND ADVERTISING EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES VARIOUS GOVERNMENT GRANTS. X X X X X X X 1 CAPITAL DEVELOPMENT SERVICES INC 633 W 4TH STREET WINSTONSALEM NC 27101 CAPITAL CAMPAIGN 0 0 106540 0 106540 VA EXPLANATION OF FUNDRAISING PAYMENTS SCHEDULE G, PART I, LINE 2B, COLUMN (V) FEES PAID FOR CONSULTING SERVICES. 1 SCHOLARSHIPS AND GRANTS TO STUDENTS 860 8417088 0 OTHER INFORMATION: PART IV: SCHEDULE I, PART I, LINE 2: A-133 AUDIT X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 TIFFANY M FRANKS 183171 0 40000 0 515 0 9210 0 5701 0 238597 0 0 0 IDA OF THE CITY OF DANVILLE VA 521321074 2010-12-17 15000000 REFUND EXISTING BONDS, CAPITAL, PURCHASES AND IMPROVEMENTS 0 0 0 220036 15000000 12395726 270355 865104 1468815 2012 1 0 0 1 0 1 1 BRANCH BANK AND TRUST 7.000000000000 0 0 0 0 0 X 2 0 X 0 X 1 0 X 9 165943 SALE PRICE X HORSES 3 0 X MIC SERVICES 6 0 7 0 0 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): LINES 1, 4, 6, 25, 26: WITH THE EXCEPTION OF GIFTS OF SECURITIES, AVERETT UNIVERSITY DOES NOT RECORD NON-CASH CONTRIBUTIONS. 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. FORM 990, PART VI, SECTION B, LINE 12C 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 15A EXECUTIVE COMMITTEE REVIEWS COMPARABLE DATA WITH PEER INSTITUTIONS AND APPROVES THE PRESIDENT'S EMPLOYMENT CONTRACT. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: 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 XII, LINE 2C: THERE HAVE BEEN NO CHANGES. AVERETT UNIVERSITY FOUNDATION 420 WEST MAIN STREET DANVILLE VA 24541 201935781 SUPPORT OF AVERETT UNIVERSITY VA 501(C)(3) LINE 11B, II N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 AVERETT UNIVERSITY FOUNDATION R 5420393 BOOK VALUE PART 5, LINE 2 (2) - ALL ASSETS, LIABILITIES AND FUND BALANCES WERE TRANSFERRED TO AVERETT UNIVERSITY ON DECEMBER 17, 2010.