2012-05-15T10:26:09-05:00 2011-06-30 CHERRY BEKAERT & HOLLAND LLP P O BOX 1119 LYNCHBURG VA 245051119 990 2010-07-01 540534105 SWEET BRIAR INSTITUTE SWEE 4343816231 PO BOX 1051 SWEET BRIAR VA 245951051 SCOTT C SHANK 4343816231 2012-05-11 1 SAMUEL E JOHNSON 4348476643 2012-05-11 2010 2016-02-24 21:20:13Z SCOTT C SHANK PO BOX 1051 SWEET BRIAR VA 245951051 49356292 0 X WWW.SBC.EDU X PRIVATE COLLEGE 1901 VA TO PROVIDE A LIBERAL ARTS EDUCATION TO STUDENTS. 35 34 1128 850 778016 -41190 9308481 7284350 28834119 30332648 1958180 3179163 910842 929389 41011622 41725550 8652946 9609216 0 0 20977523 19992806 0 0 2438895 15409778 16275800 45040247 45877822 -4028625 -4152272 173810049 174048856 47959857 37222997 125850192 136825859 X TO PROVIDE A LIBERAL ARTS EDUCATION TO STUDENTS. 0 0 13855427 21579750 INSTRUCTION: TO PROVIDE A LIBERAL ARTS EDUCATION FOR ALL STUDENTS. BENEFITS APPROXIMATELY 700 STUDENTS. 6713445 7341067 AUXILIARY ENTERPRISES: TO PROVIDE STUDENTS WITH HOUSING, FOOD SERVICES, RECREATION AND INSTRUCTIONAL MATERIALS. BENEFITS APPROXIMATELY 700 STUDENTS. 9609216 9609216 SCHOLARSHIPS: TO PROVIDE SCHOLARSHIPS FOR STUDENTS. BENEFITS APPROXIMATELY 700 STUDENTS. 7477821 2014825 STUDENT SERVICES: TO PROVIDE VARIOUS SERVICES SUCH AS ADMISSIONS, FINANCIAL AID, CAREER PLANNING, CHAPLAIN, DEAN, HEALTH CENTER AND REGISTRAR. BENEFITS APPROXIMATELY 700 STUDENTS. RESEARCH: TO PROVIDE GRANTS FOR FACULTY. ACADEMIC SUPPORT: TO PROVIDE ACADEMIC SERVICES SUCH AS LIBRARY, AUDIO-VISUAL & ACADEMIC DEAN. 7477821 2014825 37655909 1 1 0 0 0 0 1 0 1 1 1 0 1 1 1 0 1 1 1 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 1 1011 0 1128 1 1 1 1 FR SP 0 0 0 0 0 0 X 35 34 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 VA X SWEET BRIAR COLLEGE 4343816231 PO BOX 1051 SWEET BRIAR VA 245951051 DR JO ELLEN PARKER 40.00 X X X 259103 0 51645 DR VIRGINIA COLLIER 4.00 X X 0 0 0 MRS WILLIAM T YOUNG JR 4.00 X X 0 0 0 MS FRANCIS ROOT 4.00 X X 0 0 0 DR DAVID W BRENEMAN 4.00 X 0 0 0 MS DIANE B DALTON 4.00 X 0 0 0 MS RACHEL O FLYNN 4.00 X 0 0 0 MRS JANE HAGER 4.00 X 0 0 0 MS KAREN G MEYER 4.00 X 0 0 0 MR PAUL RICE 4.00 X 0 0 0 MS ELIZABETH HS WYATT 4.00 X 0 0 0 MS ZEHRA R ASGHAR 4.00 X 0 0 0 MR JOHN B DEMERE 4.00 X 0 0 0 MRS CATHERINE DETERING 4.00 X 0 0 0 MRS SUSAN C EWING 4.00 X 0 0 0 MS JUDY W GRANT 4.00 X 0 0 0 MS SANDRA G HERRING 4.00 X 0 0 0 MS MARSHA T HORTON 4.00 X 0 0 0 MR DENNIS K JANIAK 4.00 X 0 0 0 MRS SALLY O KITCHIN 4.00 X 0 0 0 MS JO ANN S KRAMER 4.00 X 0 0 0 MR RICHARD E LESLIE 4.00 X 0 0 0 MS LESLIE M LEWIS 4.00 X 0 0 0 MS MARY J NELSON 4.00 X 0 0 0 MS MAGGIE S PATRICK 4.00 X 0 0 0 MS ANNE L POULET 4.00 X 0 0 0 MS ELLEN H SAUNDERS 4.00 X 0 0 0 MS YOLANDA D SAUNDERS 4.00 X 0 0 0 MRS ANNE D SELF 4.00 X 0 0 0 MS KIMBERLY SHRADER 4.00 X 0 0 0 MR EDWARD G STEVES 4.00 X 0 0 0 MS ANNE A SYMONDS 4.00 X 0 0 0 MS ELVIRA MCMILLAN TATE 4.00 X 0 0 0 MR SCOTT C SHANK 40.00 X 0 0 0 MR PAUL DAVIES 40.00 X 94667 0 12742 MR MITCHELL WESOLOWSKI 40.00 X 44100 0 0 MR JONATHAN GREEN 40.00 X 126320 0 38563 MRS HEIDI MCCRORY 40.00 X 125791 0 20375 MRS MARGARET SCOUTEN 40.00 X 100391 0 8655 750372 0 131980 4 0 1 0 CHISEL INDUSTRIES 512N BROADWAY AVE BOZEMAN MT 59715 PRODUCTION SERVICES 235000 ACADEMIC SEARCH 1825 K STREET NW SUITE 705 WASHINGTON DC 20006 CONSULTANT SERVICES 130000 COMMON SENSE INVESTMENT 15350 SW SEQUOIA PKWY PORTLAND OR 97224 INVESTMENT MANAGEMENT 126964 GRENZEBACH GLIER & ASSOCIATES 401 N MICHIGAN AVE CHICAGO IL 60611 CONSULTANT SERVICES 121746 EVANSTON MANAGEMENT 1560 SHERMAN AVE EVANSTON IL 60201 INVESTMENT MANAGEMENT 105803 5 1309617 5974733 406693 7284350 TUITION AND FEES 611710 21579750 21579750 STUDENT SERVICES 611710 7341067 7341067 ADMIN. REVENUE 611710 1224124 1224124 SALES & SERVICES 611710 147216 147216 LATE FEES & FINES 611710 40491 40491 30332648 2727542 2727542 8050283 32080 7623713 7029 426570 25051 451621 451621 CATERING 722320 382077 54887 327190 FLORENCE ELSTON INN 721000 378413 378413 MISCELLANEOUS 611710 96486 96486 72413 72413 929389 41725550 30935642 778016 2727542 9104886 9104886 504330 504330 511043 511043 15422205 12974961 1246756 1200488 679497 559033 65246 55218 2283056 1871718 226461 184877 1097005 877857 132439 86709 70440 5811 49240 15389 89837 10160 79677 599174 599174 1324070 624068 255915 444087 75557 58462 3865 13230 1420597 1057958 154446 208193 528321 408187 112214 7920 1469969 1469969 684838 582102 49982 52754 449610 296592 112819 40199 1514483 13837 1500646 2437424 2281827 155597 193112 133168 59944 ADMINISTRATIVE EXPENSES 2133844 1884932 237234 11678 PURCHASES 1320929 1320929 REPAIR AND MAINTENANCE 692550 529097 163453 MISCELLANEOUS 674819 508633 60459 105727 OTHER LIBRARY 352131 352131 244095 225261 6408 12426 45877822 37655909 5783018 2438895 3641769 2958822 3275995 2945597 537360 586674 1663826 1488069 216944 180125 141141 113947 89312804 33384723 57823284 55928081 47908930 53531363 30289448 36660560 7898207 7621191 20413145 12034427 173810049 174048856 2135266 2187776 1096784 1094337 827362 1052882 42355146 31932572 1545299 955430 47959857 37222997 X 33292951 46770575 33971589 29866774 58585652 60188510 125850192 136825859 173810049 174048856 X -4152272 15127939 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 85269954 1504007 15264875 1124587 4077021 629383 96207845 74352610 4834394 8750377 777236 1290637 599554 85269954 94856060 2144422 -16462757 3500830 2311821 372464 74352610 0.30000 0.53000 0.17000 0 0 72957285 23265302 49691983 2846581 2235877 610704 13249818 7883544 5366274 259120 259120 55928081 INTERNATIONAL EQUITIES 21973157 F COMMODITIES 4345323 F HEDGE FUNDS 10342080 F 36660560 DIVIDENDS AND INTEREST RECEIVABLE 156861 DEFERRED CHARGES 444132 CONTRIBUTIONS RECEIVABLE 1313308 BENEFICIAL INTEREST IN PERPETUAL TRUST 7325814 FUNDS HELD BY TRUSTEE UNDER BOND INDENTURE 2686899 AMOUNT DUE FROM JUNIOR YR IN SPAIN 107413 12034427 ANNUITIES PAYABLE 552150 ASSET RETIREMENT OBLIGATION 61632 CAPITAL LEASE OBLIGATION 341648 955430 41725550 45877822 -4152272 15127939 15127939 10975667 48678652 15127939 481823 15609762 33068890 8656660 8656660 41725550 38338544 1117382 1117382 37221162 8656660 8656660 45877822 PART III, LINE 1A: THE INSTITUTE OWNS A COLLECTION OF VARIOUS OBJECTS OF ART. THESE ITEMS ARE HELD FOR PUBLIC EXHIBITION RATHER THAN FOR FINANCIAL GAIN AND ARE KEPT PROTECTED AND PRESERVED. IT IS THE INSTITUTE'S POLICY TO USE ANY PROCEEDS FROM THE SALE OF COLLECTION ITEMS TO ACQUIRE OTHER ITEMS FOR THE COLLECTION. ACCORDINGLY, THE INSTITUTE DOES NOT RECOGNIZE CONTRIBUTIONS OF WORKS OF ART, NOR ARE WORKS OF ART CAPITALIZED AND RECORDED ON THE STATEMENTS OF FINANCIAL POSITION. PART III, LINE 4: THE ART COLLECTIONS AND ANTIQUITIES SUPPORT THE EDUCATIONAL PURPOSE OF THE INSTITUTE. STUDENTS MAJORING IN ART HISTORY AND ARTS MANAGEMENT ACT AS CURATORS AND MAINTAIN THE COLLECTIONS. STUDENTS ARE INVOLVED IN COLLEGE AND COMMUNITY EXHIBITIONS. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE MAJORITY OF ENDOWMENT FUNDS ARE USED TO PROVIDE STUDENT SCHOLARSHIPS AND SUPPORT FOR INSTRUCTION, RESEARCH, AND ACADEMIC PROGRAMS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: MANAGEMENT HAS EVALUATED THE EFFECT OF THE GUIDANCE PROVIDED IN THE FASB ASC ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES THAT BECAME EFFECTIVE FOR THE INSTITUTE ON JULY 1, 2009. MANAGEMENT BELIEVES THAT THE INSTITUTE CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION AT JUNE 30, 2011 AND 2010. MANAGEMENT HAS EVALUATED ALL TAX POSITIONS THAT COULD HAVE A SIGNIFICANT EFFECT ON THE FINANCIAL STATEMENTS AND DETERMINED THE INSTITUTE HAD NO UNCERTAIN INCOME TAX POSITIONS AT JUNE 30, 2011 AND 2010. THE INSTITUTE IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE, OR LOCAL TAX EXAMINATIONS BY TAX AUTHORITIES FOR TAX YEARS PRIOR TO THE YEAR ENDING JUNE 30, 2008. PART XI, LINE 8 - OTHER ADJUSTMENTS: NET UNREALIZED GAIN ON LONG-TERM INVESTMENTS - UNRESTRICTED 16,905,177. NET UNREALIZED LOSS ON LONG-TERM INVESTMENTS - TEMPORARILY RESTRICTED -3,070,788. UNREALIZED GAIN ON BENEFICIAL INTEREST IN PERPETUAL TRUST 1,293,550. PART XII, LINE 2D - OTHER ADJUSTMENTS: JUNIOR YEAR IN SPAIN REVENUE 481,823. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF SCHOLARSHIP AID 8,656,660. PART XIII, LINE 2D - OTHER ADJUSTMENTS: JUNIOR YEAR IN SPAIN EXPENSE 1,117,382. PART XIII, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF SCHOLARSHIP AID 8,656,660. 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 SWEET BRIAR COLLEGE CUSTOMARILY DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS FROM LARGE GEOGRAPHICAL SECTIONS OF THE UNITED STATES AND FOREIGN COUNTRIES. THE COLLEGE FOLLOWS A RACIAL NONDISCRIMINATORY POLICY AND HAS COMPLIED WITH SECTION 4.02 OF THE INTERNAL REVENUE PROCEDURE 75-50. THE COLLEGE PUBLICIZES ITS NONDISCRIMINATORY POLICY IN ITS CATALOG. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 FORM 990, SCHEDULE E, LINE 6A FINANCIAL ASSISTANCE FROM GOVERNMENT AGENCIES: COLLEGE WORK STUDY $ 87,003 PELL GRANTS 647,937 ACADEMIC COMPETITIVENESS GRANT (ACG) 47,625 NATIONAL SCIENCE & MATH ACCESS TO RETAIN TALENT GRANT 68,000 TEACHER ED ASSISTANCE FOR COLLEGE & HIGHER ED GRANTS 12,000 SEOG 58,170 NATIONAL SCIENCE FOUNDATION 209,035 DEPARTMENT OF EDUCATION 68,470 INSTITUTE OF MUSEUM AND LIBRARY SERVICES 16,968 NATIONAL ENDOWMENT FOR THE HUMANITIES 14,906 ENVIRONMENTAL PROTECTION AGENCY 1,365 TOTAL FINANCIAL ASSISTANCE FROM GOVERMENT AGENCIES $ 1,231,479 1 EUROPE - FRANCE 2 17 PROGRAM SERVICES EDUCATIONAL PROGRAM 1803068 EUROPE - SPAIN 1 3 PROGRAM SERVICES EDUCATIONAL PROGRAM 1964191 EAST ASIA AND PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM FEES 6016 EUROPE 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM FEES 44563 EUROPE 0 0 PROGRAM SERVICES SCHOLARSHIPS 319924 EAST ASIA AND PACIFIC 0 0 PROGRAM SERVICES SCHOLARSHIPS 99525 SOUTH ASIA 0 0 PROGRAM SERVICES SCHOLARSHIPS 84881 3 20 0 0 3 20 4322168 0 4322168 SCHOLARSHIPS TO FOREIGN STUDENTS EUROPE 31 319924 PAYMENT APPLIED TO TUITION ACCOUNT SCHOLARSHIPS TO FOREIGN STUDENTS EAST ASIA AND PACIFIC 8 99525 PAYMENT APPLIED TO TUITION ACCOUNT SCHOLARSHIPS TO FOREIGN STUDENTS SOUTH ASIA 2 84881 PAYMENT APPLIED TO TUITION ACCOUNT 0 0 0 0 0 0 OTHER INFORMATION SCHEDULE F, PART V STUDENTS APPLY FOR SCHOLARSHIPS AND ARE AWARDED AMOUNTS THROUGH THE FINANCIAL AID PROCESS. THE FINANCIAL AID OFFICE DETERMINES THE AMOUNTS TO AWARD BASED ON CERTAIN CRITERIA AND AMOUNTS ARE DISBURSED AND POSTED TO STUDENTS' TUITION AND FEES ACCOUNT. PART III, COLUMN (E): SCHOLARSHIPS ARE CREDITED TO STUDENT TUITION ACCOUNTS AT SWEET BRIAR COLLEGE. ANY STUDENT ACCOUNT THAT HAS A CREDIT BALANACE AFTER POSTING SCHOLARSHIP AMOUNTS WILL BE REFUNDED BY COLLEGE CHECK. 1 SCHOLARSHIPS FOR STUDENTS TO ATTEND SWEET BRIAR COLLEGE 571 9104886 X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 DR JO ELLEN PARKER 259103 0 0 0 0 0 8550 0 43095 0 310748 0 0 0 MR JONATHAN GREEN 126320 0 0 0 0 0 4259 0 34304 0 164883 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS: THE PRESIDENT AND SPOUSE ARE EXPECTED TO ATTEND DONOR FUNCTIONS ON BEHALF OF THE COLLEGE. RESIDENCE FOR PERSONAL USE: THE PRESIDENT AND DEAN ARE PROVIDED COLLEGE HOUSING AND ARE REQUIRED TO LIVE ON CAMPUS. HOMES ARE ALSO USED FOR COLLEGE EVENTS. PERSONAL SERVICES: THE PRESIDENT IS PROVIDED A TAXABLE BENEFIT FOR PERSONAL SERVICES PERFORMED ON HER BEHALF. INDUSTRIAL DEVELOPMENT AUTHORITY - TOWN OF AMHERST VIRGINIA 541804155 031489BY2 2008-06-18 11000000 BUILDING/STRUCTURE, EQUIPMENT 0 0 0 INDUSTRIAL DEVELOPMENT AUTHORITY - TOWN OF AMHERST VIRGINIA 546001113 031489BX4 2006-02-23 21041170 REFUNDING OF 1998A, 1998B, 1999, 2000, AND 2001 BONDS 0 0 0 210000 11138300 570288 201648 56357 10366364 2009 0 0 1 1 2540000 21041170 2686899 334871 2006 0 1 1 1 0 0 0 0 1 0 0 0 0 1 0 1 0 0 0 1 1 0 0 0 0 0 PART IV, LINE 1, COLUMN B DATE OF FORM 8038-T FILING FORM 8038-T WAS FILED ON OCTOBER 12, 2011. X 3 0 NOT RECORDED AS REVENUE X 0 NOT RECORDED AS REVENUE X 49 406693 AVERAGE TRADING VALUES X HORSES 10 0 NOT RECORDED AS REVENUE X MISCELLANEOUS 25 0 NOT RECORDED AS REVENUE 18 0 1 0 NON REPORTING OF REVENUE: PART I, LINE 33: THE INSTITUTE DOES NOT RECORD NON-CASH GIFTS AS REVENUE. FORM 990, PART VI, SECTION B, LINE 11 THE 990 FORM AND REQUIRED SCHEDULES WERE REVIEWED BY THE CFO PRIOR TO FINAL SUBMISSION TO THE IRS. THE CFO REVIEWED THE FORM 990 AND RELATED SCHEDULES, AND MADE AN ELECTRONIC VERSION AVAILABLE TO THE OFFICERS AND DIRECTORS OF THE INSTITUTE. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE REQUIRED TO SUBMIT AN ANNUAL DISCLOSURE IN ACCORDANCE WITH THE SWEET BRIAR COLLEGE WRITTEN CONFLICT OF INTEREST POLICY. CONFLICT OF INTEREST FORMS ARE FILED WITH THE PRESIDENT'S OFFICE ANNUALLY AND ARE REVIEWED BY THE CFO AND INDEPENDENT AUDITORS. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION FOR THE PRESIDENT/CEO IS DETERMINED BY A COMPENSATION COMMITTEE AND BY COMPARING AMOUNTS FROM FORM 990 FOR OTHER ORGANIZATIONS. COMPENSATION IS APPROVED BY THE BOARD ANNUALLY. 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 ONLY. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAIN ON LONG-TERM INVESTMENTS - UNRESTRICTED 16,905,177. NET UNREALIZED LOSS ON LONG-TERM INVESTMENTS - TEMPORARILY RESTRICTED -3,070,788. UNREALIZED GAIN ON BENEFICIAL INTEREST IN PERPETUAL TRUST 1,293,550. TOTAL TO FORM 990, PART XI, LINE 5: 15,127,939. AUDIT COMMITTEE FORM 990, PART XII, LINE 2C DURING THE FISCAL YEAR ENDED JUNE 30, 2011, THERE WERE NO CHANGES IN THE PROCEDURES USED BY THE AUDIT COMMITTEE TO OVERSEE THE ORGANIZATION'S ANNUAL AUDIT. SBC FOREIGN PROGRAMS INC PO BOX 1051 SWEET BRIAR VA 24595 541733600 EDUCATIONAL PROGRAM VA 501(C)(3) 509(A)(1) SWEET BRIAR INSTITUTE 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 SBC FOREIGN PROGRAMS INC M 1054437 ACTUAL COST SBC FOREIGN PROGRAMS INC N 118346 ACTUAL COST SBC FOREIGN PROGRAMS INC Q 791408 ACTUAL COST