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AVERETT UNIVERSITY: Form 990, tax year 2009

View the entire original 990 at ProPublica ↗

Organization
AVERETT UNIVERSITY (EIN 54-0129860)
Tax period
2009-07-01 to 2010-06-30
Filed
2011-05-12
IRS object ID
201101329349300710
Schema version
2009v1.7
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 ReturnHeader

FieldValueIRS element (for citing)
Timestamp2011-05-12T07:50:05-05:00Timestamp
Tax Period End Date2010-06-30TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

FieldValueIRS element (for citing)
Business Name Line1HARRIS HARVEY NEAL & COLLPCPA'SBusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 3424AddressLine1
CityDANVILLECity
StateVAState
ZIP Code245433424ZIPCode
FieldValueIRS element (for citing)
Return Type990ReturnType
Tax Period Begin Date2009-07-01TaxPeriodBeginDate

Filer Filer

FieldValueIRS element (for citing)
EIN540129860EIN

Name Name

FieldValueIRS element (for citing)
Business Name Line1AVERETT UNIVERSITYBusinessNameLine1
FieldValueIRS element (for citing)
Name ControlAVERNameControl
Phone4347915600Phone

US Address USAddress

FieldValueIRS element (for citing)
Address Line1420 WEST MAIN STREETAddressLine1
CityDANVILLECity
StateVAState
ZIP Code24541ZIPCode

Officer Officer

FieldValueIRS element (for citing)
NameTHOM DAVISName
TitleCHIEF FINANCIAL OFFICERTitle
Phone4347915600Phone
Date Signed2011-05-12DateSigned
Authorize Third Party1AuthorizeThirdParty

Preparer Preparer

FieldValueIRS element (for citing)
NameKatherine D McDaniel CPAName
Phone4347923220Phone
Date Prepared2011-05-12DatePrepared
FieldValueIRS element (for citing)
Tax Year2009TaxYear
Build TS2016-02-24 21:20:13ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Name Of Principal Officer PersonTIFFANY M FRANKSNameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

FieldValueIRS element (for citing)
Address Line1420 WEST MAIN STREETAddressLine1
CityDANVILLECity
StateVAState
ZIP Code24541ZIPCode
FieldValueIRS element (for citing)
Gross Receipts33090136GrossReceipts
Group Return For Affiliates0GroupReturnForAffiliates
Organization501cXOrganization501c
Web SiteWWW.AVERETT.EDUWebSite
Type Of Organization CorporationXTypeOfOrganizationCorporation
Year Formation1859YearFormation
State Legal DomicileVAStateLegalDomicile
Activity Or Mission DescriptionAverett University, founded in 1859, offers courses of study leading to bachelor's and master's degrees in Danville and at regional centers in Virginia. Through personal attention for all students, Averett prepares them for successful lives by encouraging each, in the liberal arts tradition, to ask and answer important questions, form and defend judgements, and evaluate diverse views thoughtfully. In accordance with our Christian heritage, we value academic and religious freedom, spiritual growth, academic excellence, diversity, and tolerance.ActivityOrMissionDescription
Nbr Voting Members Governing Body27NbrVotingMembersGoverningBody
Nbr Independent Voting Members27NbrIndependentVotingMembers
Total Nbr Employees741TotalNbrEmployees
Total Nbr Volunteers0TotalNbrVolunteers
Total Gross UBI0TotalGrossUBI
Net Unrelated Business Txbl Income0NetUnrelatedBusinessTxblIncome
Contributions Grants Prior Year3334930ContributionsGrantsPriorYear
Contributions Grants Current Year3954161ContributionsGrantsCurrentYear
Program Service Revenue Prior Year26770364ProgramServiceRevenuePriorYear
Program Service Revenue CY28408624ProgramServiceRevenueCY
Investment Income Prior Year1094584InvestmentIncomePriorYear
Investment Income Current Year727351InvestmentIncomeCurrentYear
Other Revenue Prior Year128859OtherRevenuePriorYear
Other Revenue Current Year0OtherRevenueCurrentYear
Total Revenue Prior Year31328737TotalRevenuePriorYear
Total Revenue Current Year33090136TotalRevenueCurrentYear
Grants And Similar Amnts Prior Year6629610GrantsAndSimilarAmntsPriorYear
Grants And Similar Amnts CY7066996GrantsAndSimilarAmntsCY
Benefits Paid To Members CY0BenefitsPaidToMembersCY
Salaries Etc Prior Year13432359SalariesEtcPriorYear
Salaries Etc Current Year14054876SalariesEtcCurrentYear
Total Prof Fundrsng Exp CY0TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year683984TotalFundrsngExpCurrentYear
Other Expense Prior Year9169474OtherExpensePriorYear
Other Expenses Current Year10580329OtherExpensesCurrentYear
Total Expenses Prior Year29231443TotalExpensesPriorYear
Total Expenses Current Year31702201TotalExpensesCurrentYear
Revenues Less Expenses Prior Year2097294RevenuesLessExpensesPriorYear
Revenues Less Expenses CY1387935RevenuesLessExpensesCY
Total Assets BOY43923310TotalAssetsBOY
Total Assets EOY45493820TotalAssetsEOY
Total Liabilities BOY13620804TotalLiabilitiesBOY
Total Liabilities EOY12636198TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY30302506NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY32857622NetAssetsOrFundBalancesEOY
Mission DescriptionAverett University, founded in 1859, offers courses of study leading to bachelor's and master's degrees in Danville and at regional centers in Virginia. Through personal attention for all students, Averett prepares them for successful lives by encouraging each, in the liberal arts tradition, to ask and answer important questions, form and defend judgements, and evaluate diverse views thoughtfully. In accordance with our Christian heritage, we value academic and religious freedom, spiritual growth, academic excellence, diversity, and tolerance.MissionDescription
Significant New Program Services0SignificantNewProgramServices
Significant Change0SignificantChange
Expense24635205Expense
Grants7066996Grants
Revenue28408624Revenue
DescriptionINSTRUCTION IS PROVIDED TO MORE THAN 2500 STUDENTS OFFERING UNDERGRADUATE AND GRADUATE DEGREES THROUGH ITS TRADITIONAL, GRADUATE, AND PROFESSIONAL STUDIES PROGRAMS.Description
Total Program Service Expense24635205TotalProgramServiceExpense
Described In501 C31DescribedIn501C3
Schedule B Required1ScheduleBRequired
Political Activities0PoliticalActivities
Lobbying Activities0LobbyingActivities
Donor Advised Funds0DonorAdvisedFunds
Conservation Easements0ConservationEasements
Collections Of Art0CollectionsOfArt
Credit Counseling0CreditCounseling
Term Or Permanent Endowments1TermOrPermanentEndowments
Balance Sheet Amounts Reported1BalanceSheetAmountsReported
Independent Audit Financial Stmt1IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt0ConsolidatedAuditFinancialStmt
School1School
Foreign Office0ForeignOffice
Foreign Activities0ForeignActivities
More Than5000 K To Organizations0MoreThan5000KToOrganizations
More Than5000 K To Individuals0MoreThan5000KToIndividuals
Professional Fundraising0ProfessionalFundraising
Fundraising Activities0FundraisingActivities
Gaming0Gaming
Hospital0Hospital
Grants To Organizations0GrantsToOrganizations
Grants To Individuals1GrantsToIndividuals
Schedule J Required1ScheduleJRequired
Tax Exempt Bonds0TaxExemptBonds
Excess Benefit Transaction0ExcessBenefitTransaction
Prior Excess Benefit Transaction0PriorExcessBenefitTransaction
Loan To Officer Or DQP0LoanToOfficerOrDQP
Grant To Related Person0GrantToRelatedPerson
Bsnss Rltnshp With Organization0BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member0BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp0OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions0DeductibleNonCashContributions
Deductible Contributions Of Art0DeductibleContributionsOfArt
Terminated0Terminated
Partial Liquidation0PartialLiquidation
Disregarded Entity0DisregardedEntity
Related Entity1RelatedEntity
Related Org Controlled Entity0RelatedOrgControlledEntity
Transfers To Exempt Non Chrtbl Org0TransfersToExemptNonChrtblOrg
Activities Conducted Partnership0ActivitiesConductedPartnership
Schedule O Required1ScheduleORequired
Number Forms Transmitted With10960NumberFormsTransmittedWith1096
Number W2 G Included0NumberW2GIncluded
Number Of Employees741NumberOfEmployees
Employment Tax Returns Filed1EmploymentTaxReturnsFiled
Unrelated Business Income0UnrelatedBusinessIncome
Foreign Financial Account0ForeignFinancialAccount
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTrans
Taxable Party Notification0TaxablePartyNotification
Non Deductible Contributions0NonDeductibleContributions
Quid Pro Quo Contributions0QuidProQuoContributions
Form8282 Property Disposed Of0Form8282PropertyDisposedOf
Funds To Pay Premiums0FundsToPayPremiums
Premiums Paid0PremiumsPaid
Nbr Voting Governing Body Members27NbrVotingGoverningBodyMembers
Number Independent Voting Members27NumberIndependentVotingMembers
Family Or Business Relationship0FamilyOrBusinessRelationship
Delegation Of Management Duties0DelegationOfManagementDuties
Changes To Organizing Docs0ChangesToOrganizingDocs
Material Diversion Or Misuse0MaterialDiversionOrMisuse
Members Or Stockholders0MembersOrStockholders
Election Of Board Members0ElectionOfBoardMembers
Decisions Subject To Approval0DecisionsSubjectToApproval
Minutes Of Governing Body1MinutesOfGoverningBody
Minutes Of Committees1MinutesOfCommittees
Officer Mailing Address0OfficerMailingAddress
Local Chapters0LocalChapters
Form990 Provided To Governing Body1Form990ProvidedToGoverningBody
Conflict Of Interest Policy1ConflictOfInterestPolicy
Annual Disclosure Covered Persons0AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement0RegularMonitoringEnforcement
Whistleblower Policy0WhistleblowerPolicy
Document Retention Policy0DocumentRetentionPolicy
Compensation Process CEO1CompensationProcessCEO
Compensation Process Other0CompensationProcessOther
Investment In Joint Venture0InvestmentInJointVenture
Upon RequestXUponRequest

The Books Are In Care Of TheBooksAreInCareOf

Name Business NameBusiness

FieldValueIRS element (for citing)
Business Name Line1AVERETT UNIVERSITYBusinessNameLine1
FieldValueIRS element (for citing)
Telephone Number4347915600TelephoneNumber

Address US AddressUS

FieldValueIRS element (for citing)
Address Line1420 WEST MAIN STREETAddressLine1
CityDANVILLECity
StateVAState
ZIP Code24541ZIPCode

Form990 Part VII Section A Form990PartVIISectionA (33 entries)

TitleTitleAverage Hours Per WeekAverageHoursPerWeekIndividual Trustee Or DirectorIndividualTrusteeOrDirectorOfficerOfficerReportable Comp From OrganizationReportableCompFromOrganizationReportable Comp From Related OrgsReportableCompFromRelatedOrgsOther CompensationOtherCompensation
JACKSON E REASOR
CHAIRPERSON OF BOARD1.00XX000
P NILES DALY JR
SECRETARY OF BOARD1.00XX000
RICHARD ROCCESANO
TRUSTEE1.00X000
HENRY I SLAYTON JR
TRUSTEE1.00X000
LINDSEY MOYNIHAN
TRUSTEE1.00X000
GONZALEE FORD
TRUSTEE1.00X000
DR CLAUDE B OWEN JR
TRUSTEE1.00X000
JOHN D VIGOUROUX
TRUSTEE1.00X000
DR CALVIN R SNOWDEN
SECOND VICE CHAIRPERSON1.00XX000
DALE P LEE
TRUSTEE1.00X000
L SAMUEL SAUNDERS
TRUSTEE1.00X000
REV DANIEL CARLTON
TRUSTEE1.00X000
DR MARTTI AHTISAARI
TRUSTEE1.00X000
VIRGINIA W HAMLET
TRUSTEE1.00X000
REV DR DANIEL E SCOTT
TRUSTEE1.00X000
JOHN S BARR
TRUSTEE1.00X000
JACOB E FRITH II
TRUSTEE1.00X000
GLENN W PULLEY
TRUSTEE1.00X000
EBB H WILLIAMS III
TRUSTEE1.00X000
EDWARD M BISHOP
TRUSTEE1.00X000
BOBBYE RAYE WOMACK
TRUSTEE1.00X000
JAMES W JENNINGS JR
TRUSTEE1.00X000
MARY M G RIDDLE
FIRST VICE CHAIRPERSON1.00XX000
L HAMPTON WILKINS
TRUSTEE1.00X000
DR JIM BAUCOM
TRUSTEE1.00X000
T WAYNE OAKES
TRUSTEE1.00X000
DR FRANKLIN W MADDUX
TRUSTEE1.00X000
TIFFANY M FRANKS
PRESIDENT50.00XX208837013149
PAGE A STOOKS
VICE PRESIDENT ADVANCEMENT40.00X11705200
PEGGY C WRIGHT
VICE PRESIDENT ADMIN & FINANCE40.00X10213709373
STEPHEN C AUSBAND
VICE PRESIDENT ACADEMIC AFFAIRS40.00X9858309493
CHARLES S HARRIS
EXECUTIVE VICE PRESIDENT40.00X90607010959
KATHLEEN L TUNE
VICE PRESIDENT HUMAN RESOURCES40.00X7269603635
FieldValueIRS element (for citing)
Total Reportable Comp From Org689912TotalReportableCompFromOrg
Total Reportable Comp Frm Rltd Orgs0TotalReportableCompFrmRltdOrgs
Total Other Compensation46609TotalOtherCompensation
Number Individuals GT100 K3NumberIndividualsGT100K
Formers Listed0FormersListed
Total Comp GT150 K1TotalCompGT150K
Compensation From Other Sources0CompensationFromOtherSources

Contractor Compensation ContractorCompensation (4 entries)

Address Line1AddressOfContractor/AddressUS/AddressLine1CityAddressOfContractor/AddressUS/CityStateAddressOfContractor/AddressUS/StateZIP CodeAddressOfContractor/AddressUS/ZIPCodeDescription Of ServicesDescriptionOfServicesCompensationCompensation
ARAMARK
24818 NETWORK PLACECHICAGOIL60673FACILITIES937806
BON APPETIT
91337 COLLECTIONS DRIVECHICAGOIL60693FOOD932724
PTL CONTRACTORS
109 BARTER STREETDANVILLEVA24541CONSTRUCTION391852
KAHLER SLATER INC
111 W WISCONSIN AVENUEMILWAUKEEWI53203PERFORM HE CONSULTING154655
FieldValueIRS element (for citing)
Number Of Contractors GT100 K4NumberOfContractorsGT100K
Government Grants294154GovernmentGrants
All Other Contributions3660007AllOtherContributions
Total Contributions3954161TotalContributions

Program Service Revenue ProgramServiceRevenue

FieldValueIRS element (for citing)
DescriptionTUITION & FEESDescription
Total Revenue Column25724508TotalRevenueColumn
Related Or Exempt Function Income25724508RelatedOrExemptFunctionIncome

Total Oth Program Service Revenue TotalOthProgramServiceRevenue

FieldValueIRS element (for citing)
Total Revenue Column2684116TotalRevenueColumn
Related Or Exempt Function Income2684116RelatedOrExemptFunctionIncome
FieldValueIRS element (for citing)
Total Program Service Revenue28408624TotalProgramServiceRevenue

Investment Income InvestmentIncome

FieldValueIRS element (for citing)
Total Revenue Column727351TotalRevenueColumn
Exclusion$727,351ExclusionAmount

Total Revenue TotalRevenue

FieldValueIRS element (for citing)
Total Revenue Column33090136TotalRevenueColumn
Related Or Exempt Function Income28408624RelatedOrExemptFunctionIncome
Unrelated Business Revenue0UnrelatedBusinessRevenue
Exclusion$727,351ExclusionAmount

Grants To Domestic Individuals GrantsToDomesticIndividuals

FieldValueIRS element (for citing)
Total7066996Total
Program Services7066996ProgramServices

Comp Current Officers Directors CompCurrentOfficersDirectors

FieldValueIRS element (for citing)
Total696811Total
Program Services565811ProgramServices
Management And General131000ManagementAndGeneral

Other Salaries And Wages OtherSalariesAndWages

FieldValueIRS element (for citing)
Total10500959Total
Program Services8526778ProgramServices
Management And General1546801ManagementAndGeneral
Fundraising427380Fundraising

Pension Plan Contributions PensionPlanContributions

FieldValueIRS element (for citing)
Total303388Total
Program Services246351ProgramServices
Management And General41438ManagementAndGeneral
Fundraising15599Fundraising

Other Employee Benefits OtherEmployeeBenefits

FieldValueIRS element (for citing)
Total1772469Total
Program Services1439245ProgramServices
Management And General291810ManagementAndGeneral
Fundraising41414Fundraising

Payroll Taxes PayrollTaxes

FieldValueIRS element (for citing)
Total781249Total
Program Services634374ProgramServices
Management And General124287ManagementAndGeneral
Fundraising22588Fundraising

Fees For Services Legal FeesForServicesLegal

FieldValueIRS element (for citing)
Total27462Total
Program Services22299ProgramServices
Management And General5163ManagementAndGeneral

Fees For Services Accounting FeesForServicesAccounting

FieldValueIRS element (for citing)
Total87411Total
Program Services70978ProgramServices
Management And General16433ManagementAndGeneral

Advertising Advertising

FieldValueIRS element (for citing)
Total87882Total
Program Services87882ProgramServices

Office Expenses OfficeExpenses

FieldValueIRS element (for citing)
Total734432Total
Program Services579837ProgramServices
Management And General154249ManagementAndGeneral
Fundraising346Fundraising

Information Technology InformationTechnology

FieldValueIRS element (for citing)
Total70313Total
Program Services57094ProgramServices
Management And General13219ManagementAndGeneral

Occupancy Occupancy

FieldValueIRS element (for citing)
Total1094968Total
Program Services889114ProgramServices
Management And General205854ManagementAndGeneral

Travel Travel

FieldValueIRS element (for citing)
Total517140Total
Program Services419917ProgramServices
Management And General69782ManagementAndGeneral
Fundraising27441Fundraising

Interest Interest

FieldValueIRS element (for citing)
Total353000Total
Program Services286636ProgramServices
Management And General66364ManagementAndGeneral

Depreciation Depletion DepreciationDepletion

FieldValueIRS element (for citing)
Total1118783Total
Program Services908452ProgramServices
Management And General210331ManagementAndGeneral

Insurance Insurance

FieldValueIRS element (for citing)
Total250988Total
Program Services203802ProgramServices
Management And General47186ManagementAndGeneral

Other Expenses OtherExpenses (5 entries)

DescriptionDescriptionTotalTotalProgram ServicesProgramServicesManagement And GeneralManagementAndGeneralFundraisingFundraising
CONTRACTUAL SERVICES20844731692592391881
TELEPHONE23614919175344396
PRINTING & PUBLICATIONS225805183354341688283
POSTAGE & SHIPPING11672294778152176727
MEMBERSHIPS & DUES901377319116946

All Other Expenses AllOtherExpenses

FieldValueIRS element (for citing)
Total3484664Total
Program Services393971ProgramServices
Management And General2956487ManagementAndGeneral
Fundraising134206Fundraising

Total Functional Expenses TotalFunctionalExpenses

FieldValueIRS element (for citing)
Total31702201Total
Program Services24635205ProgramServices
Management And General6383012ManagementAndGeneral
Fundraising683984Fundraising

Cash Non Interest Bearing CashNonInterestBearing

FieldValueIRS element (for citing)
BOY2348650BOY
EOY3958427EOY

Pledges And Grants Receivable PledgesAndGrantsReceivable

FieldValueIRS element (for citing)
BOY947196BOY
EOY1298746EOY

Accounts Receivable AccountsReceivable

FieldValueIRS element (for citing)
BOY4349402BOY
EOY4252615EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

FieldValueIRS element (for citing)
BOY97874BOY
EOY126674EOY
FieldValueIRS element (for citing)
Land Buildings Equipment Basis34116310LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec18885994LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

FieldValueIRS element (for citing)
BOY15595748BOY
EOY15230316EOY

Investments Other Securities InvestmentsOtherSecurities

FieldValueIRS element (for citing)
BOY17158161BOY
EOY17125897EOY

Other Assets Total OtherAssetsTotal

FieldValueIRS element (for citing)
BOY3426279BOY
EOY3501145EOY

Total Assets TotalAssets

FieldValueIRS element (for citing)
BOY43923310BOY
EOY45493820EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

FieldValueIRS element (for citing)
BOY1529015BOY
EOY1450877EOY

Grants Payable GrantsPayable

FieldValueIRS element (for citing)
BOY2590590BOY
EOY2605070EOY

Deferred Revenue DeferredRevenue

FieldValueIRS element (for citing)
BOY1618783BOY
EOY1669010EOY

Tax Exempt Bond Liabilities TaxExemptBondLiabilities

FieldValueIRS element (for citing)
BOY4941214BOY
EOY4681800EOY

Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp

FieldValueIRS element (for citing)
BOY2571619BOY
EOY2023494EOY

Other Liabilities OtherLiabilities

FieldValueIRS element (for citing)
BOY369583BOY
EOY205947EOY

Total Liabilities TotalLiabilities

FieldValueIRS element (for citing)
BOY13620804BOY
EOY12636198EOY
FieldValueIRS element (for citing)
Follow SFAS117XFollowSFAS117

Unrestricted Net Assets UnrestrictedNetAssets

FieldValueIRS element (for citing)
BOY8235757BOY
EOY8050057EOY

Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets

FieldValueIRS element (for citing)
BOY5334866BOY
EOY7215244EOY

Permanently Restricted Net Assets PermanentlyRestrictedNetAssets

FieldValueIRS element (for citing)
BOY16731883BOY
EOY17592321EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

FieldValueIRS element (for citing)
BOY30302506BOY
EOY32857622EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

FieldValueIRS element (for citing)
BOY43923310BOY
EOY45493820EOY
FieldValueIRS element (for citing)
Method Of Accounting AccrualXMethodOfAccountingAccrual
Accountant Compile Or Review0AccountantCompileOrReview
FS Audited1FSAudited
Audit Committee1AuditCommittee
Financial Statement SeparateXFinancialStatementSeparate
Federal Grant Audit Required1FederalGrantAuditRequired
Federal Grant Audit Performed1FederalGrantAuditPerformed

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
School170b1 AiiXSchool170b1Aii

Schedule B IRS990ScheduleB

Contributor Info ContributorInfo

FieldValueIRS element (for citing)
Contributor NumberRESTRICTEDContributorNumber

Contributor Name Business ContributorNameBusiness

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor Address US ContributorAddressUS

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Aggregate ContributionsRESTRICTEDAggregateContributions

Schedule D IRS990ScheduleD

Current Year CurrentYear

FieldValueIRS element (for citing)
Beginning Of Year Balance19865890BeginningOfYearBalance
Contributions716508Contributions
Investment Earnings Or Losses1714759InvestmentEarningsOrLosses
Other Expenditures871913OtherExpenditures
End Of Year Balance21425244EndOfYearBalance

Current Year Minus1 Year CurrentYearMinus1Year

FieldValueIRS element (for citing)
Beginning Of Year Balance24726742BeginningOfYearBalance
Contributions266224Contributions
Investment Earnings Or Losses-3479122InvestmentEarningsOrLosses
Other Expenditures1647954OtherExpenditures
End Of Year Balance19865890EndOfYearBalance
FieldValueIRS element (for citing)
Board Designated EOY Balance0.06000BoardDesignatedEOYBalance
Permanent Endowment EOY Balance0.94000PermanentEndowmentEOYBalance
Endowments Held By Unrelated Orgs0EndowmentsHeldByUnrelatedOrgs
Endowments Held By Related Orgs0EndowmentsHeldByRelatedOrgs

Land Land

FieldValueIRS element (for citing)
Investment Cost Or Other Basis1885831InvestmentCostOrOtherBasis
Book Value1885831BookValue

Buildings Buildings

FieldValueIRS element (for citing)
Investment Cost Or Other Basis20196798InvestmentCostOrOtherBasis
Book Value20196798BookValue

Equipment Equipment

FieldValueIRS element (for citing)
Investment Cost Or Other Basis7625309InvestmentCostOrOtherBasis
Book Value7625309BookValue

Other Land Buildings OtherLandBuildings

FieldValueIRS element (for citing)
Investment Cost Or Other Basis4408372InvestmentCostOrOtherBasis
Depreciation18885994Depreciation
Book Value-14477622BookValue
FieldValueIRS element (for citing)
Total Of Book Value Land Buildings15230316TotalOfBookValueLandBuildings

Other Securities OtherSecurities (8 entries)

DescriptionDescriptionBook ValueBookValueMethod Of ValuationMethodOfValuation
COMMON STOCK5442465F
MUTUAL FUNDS3672658F
BONDS1995548F
U.S. GOVT SECURITIES1165949F
SHORT-TERM ASSETS602128F
REAL ESTATE952339F
HEDGE FUNDS3223804F
OTHER71006F
FieldValueIRS element (for citing)
Total Of Book Value Securities17125897TotalOfBookValueSecurities

Other Assets OtherAssets (2 entries)

DescriptionDescriptionBook ValueBookValue
FUNDS HELD IN TRUST2917816
BOND PAYMENT RESERVES583329
FieldValueIRS element (for citing)
Total Book Value Other Assets3501145TotalBookValueOtherAssets

Other Liabilities OtherLiabilities

FieldValueIRS element (for citing)
DescriptionTRUST & ANNUITY OBLIGATIONSDescription
Amount$205,947Amount
FieldValueIRS element (for citing)
Total Of Amounts205947TotalOfAmounts
Total Revenue33090136TotalRevenue
Total Expenses31702201TotalExpenses
Excess Or Deficit For Year1387935ExcessOrDeficitForYear
Net Unrealized GL On Investments1048411NetUnrealizedGLOnInvestments
Other$118,770OtherAmount
Total Adjustments1167181TotalAdjustments
Excess Or Deficit Per FS2555116ExcessOrDeficitPerFS
Tot Revenue Etc Audited Fincl Stmt27190321TotRevenueEtcAuditedFinclStmt
Net Unrealized Gains Investments1048411NetUnrealizedGainsInvestments
Other Revenues-6948226OtherRevenues
Revenue Not Rptd F990-5899815RevenueNotRptdF990
Revenue Subtotal33090136RevenueSubtotal
Revenue Not Rptd On Fin Stmt0RevenueNotRptdOnFinStmt
Total Revenue Per Form99033090136TotalRevenuePerForm990
Tot Expenses Etc Audited Fincl Stmt24635205TotExpensesEtcAuditedFinclStmt
Expenses Not Rptd F9900ExpensesNotRptdF990
Expenses Subtotal24635205ExpensesSubtotal
Other Expenses Not Included7066996OtherExpensesNotIncluded
Expenses Not Rptd On Fin Stmt7066996ExpensesNotRptdOnFinStmt
Total Expenses Per Form99031702201TotalExpensesPerForm990

Form990 Schedule D Part XIV Form990ScheduleDPartXIV

FieldValueIRS element (for citing)
ExplanationSCHEDULE D, PART V, LINE 4: PROVIDE FOR SCHOLARSHIPS, OPERATIONS, AND MAINTENANCE AND SUPPORT OF AVERETT UNIVERSITY SCHEDULE D, PART XI, LINE 8: SPLIT INTEREST AGREEMENTS $118,770 SCHEDULE D, PART Xii, LINE 2D: SCHOLARSHIPS & GRANTS $7,066,996 LESS SPLIT INTEREST AGREEMENTS $118,770 - TUITION AND FEE REVENUE ON FINANCIAL STATEMENTS SHOWN NET OF SCHOLARSHIPS AND GRANTS PAID. ON TAX RETURN SCHOLARSHIPS ARE REPORTED AS AN EXPENSE. SCHEDULE D, PART XIII, LINE 4B: SCHOLARSHIPS & GRANTS $7,066,996 SHOWN AS AN EXPENSE ON TAX RETURNExplanation

Schedule E IRS990ScheduleE

FieldValueIRS element (for citing)
Nondiscriminatory Policy Stmt1NondiscriminatoryPolicyStmt
Policy Statement In Brochures Etc1PolicyStatementInBrochuresEtc
Policy Publ Via Broadcast Media1PolicyPublViaBroadcastMedia
Pub Via Broadcast Media ExplnCATALOGS, PUBLICATIONS, BROCHURES, AND ADVERTISINGPubViaBroadcastMediaExpln
Maint Racial Composition Records1MaintRacialCompositionRecords
Maint Scholarships Records1MaintScholarshipsRecords
Maint Copies Of Brochures Etc1MaintCopiesOfBrochuresEtc
Maint Copies Of All Solicitations1MaintCopiesOfAllSolicitations
Discriminate Race Students Rights0DiscriminateRaceStudentsRights
Discriminate Race Admiss Policies0DiscriminateRaceAdmissPolicies
Discriminate Race Emplmn Faculty0DiscriminateRaceEmplmnFaculty
Discriminate Race Scholarships0DiscriminateRaceScholarships
Discriminate Race Educ Policies0DiscriminateRaceEducPolicies
Discriminate Race Use Of Fclts0DiscriminateRaceUseOfFclts
Discriminate Race Athletic Prog0DiscriminateRaceAthleticProg
Discriminate Race Other Acty0DiscriminateRaceOtherActy
Government Financial Aid Received1GovernmentFinancialAidReceived
Government Financial Aid Revoked0GovernmentFinancialAidRevoked
Govt Financial Aid ExplanationVARIOUS GOVERNMENT GRANTSGovtFinancialAidExplanation
Compliance With Rev Proc75501ComplianceWithRevProc7550

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Records Maintained1RecordsMaintained

Form990 Schedule I Part III Form990ScheduleIPartIII

FieldValueIRS element (for citing)
Type Of GrantSCHOLARSHIPS AND GRANTS TO STUDENTSTypeOfGrant
Number Of Recipients400NumberOfRecipients
Amount Of Cash Grant7066996AmountOfCashGrant

Form990 Schedule I Part IV Form990ScheduleIPartIV

FieldValueIRS element (for citing)
IdentifierOther Information:Identifier
Return ReferencePart IV:ReturnReference
ExplanationSCHEDULE I, PART I, LINE 2: A-133 AUDITExplanation

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Travel For CompanionsXTravelForCompanions
Housing Allowance Or ResidenceXHousingAllowanceOrResidence
Club Dues Or FeesXClubDuesOrFees
Written Policy Re T And E Expenses1WrittenPolicyReTAndEExpenses
Substantiation Required1SubstantiationRequired
Written Employment ContractXWrittenEmploymentContract
Compensation SurveyXCompensationSurvey
Board Or Committee ApprovalXBoardOrCommitteeApproval
Severance Payment0SeverancePayment
Supplemental Nonqual Retire Plan0SupplementalNonqualRetirePlan
Equity Based Comp Arrangement0EquityBasedCompArrangement
Comp Based On Revenue Of Filing Org0CompBasedOnRevenueOfFilingOrg
Comp Based On Revenue Related Orgs0CompBasedOnRevenueRelatedOrgs
Comp Based Net Earnings Filing Org0CompBasedNetEarningsFilingOrg
Comp Based Net Earnings Relate Orgs0CompBasedNetEarningsRelateOrgs
Any Non Fixed Payments0AnyNonFixedPayments
Initial Contract Exception0InitialContractException

Form990 Schedule J Part II Form990ScheduleJPartII

Name Business NameBusiness

FieldValueIRS element (for citing)
Business Name Line1TIFFANY M FRANKSBusinessNameLine1
FieldValueIRS element (for citing)
Base Compensation Filing Org171237BaseCompensationFilingOrg
Comp Based On Related Orgs0CompBasedOnRelatedOrgs
Bonus Filing Org37600BonusFilingOrg
Bonus Related Orgs0BonusRelatedOrgs
Other Compensation Filing Org0OtherCompensationFilingOrg
Other Compensation Related Orgs0OtherCompensationRelatedOrgs
Deferred Comp Filing Org8585DeferredCompFilingOrg
Deferred Comp Related Orgs0DeferredCompRelatedOrgs
Nontaxable Benefits Filing Org4564NontaxableBenefitsFilingOrg
Nontaxable Benefits Related Orgs0NontaxableBenefitsRelatedOrgs
Total Compensation Filing Org221986TotalCompensationFilingOrg
Total Compensation Related Orgs0TotalCompensationRelatedOrgs
Comp Report Prior990 Filing Org0CompReportPrior990FilingOrg
Comp Report Prior990 Related Orgs0CompReportPrior990RelatedOrgs

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (3 entries)

IdentifierIdentifierExplanationExplanation
Form 990, Part VI, Section B, line 11PREPARED BY OUTSIDE CPA, REVIEWED BY CFO, SUBMITTED TO PRESIDENT AND BOARD MEMBERS, THEN FILED.
Form 990, Part VI, Section B, line 15aEXECUTIVE COMMITTEE REVIEWS COMPARABLE DATA WITH PEER INSTITUTIONS AND APPROVES PRESIDENT EMPLOYMENT CONTRACT
Form 990, Part VI, Section C, line 19ALL GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.

Schedule R IRS990ScheduleR

Form990 Schedule R Part II Form990ScheduleRPartII

Name Of Disregarded Entity NameOfDisregardedEntity

FieldValueIRS element (for citing)
Business Name Line1AVERETT UNIVERSITY FOUNDATIONBusinessNameLine1

Address US AddressUS

FieldValueIRS element (for citing)
Address Line1420 WEST MAIN STREETAddressLine1
CityDANVILLECity
StateVAState
ZIP Code24541ZIPCode
FieldValueIRS element (for citing)
EIN201935781EIN
Primary ActivitiesSUPPORT OF AVERETT UNIVERSITYPrimaryActivities
Legal Domicile StateVALegalDomicileState
Exempt Code Section501(c)(3)ExemptCodeSection
Public Charity StatusLine 11b, IIPublicCharityStatus
Direct Controlling Entity NAN/ADirectControllingEntityNA
FieldValueIRS element (for citing)
Receipt Of Int Ann Rents Royalties1ReceiptOfIntAnnRentsRoyalties
Gift Grant Or Cap Contr To Other Org0GiftGrantOrCapContrToOtherOrg
Gift Grant Or Cap Contr Fr Other Org0GiftGrantOrCapContrFrOtherOrg
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrg
Loans Or Guarantees From Other Org0LoansOrGuaranteesFromOtherOrg
Sale Of Assets To Other Org0SaleOfAssetsToOtherOrg
Purchase Of Assets From Other Org0PurchaseOfAssetsFromOtherOrg
Exchange Of Assets0ExchangeOfAssets
Rental Of Facilities To Other Orgs0RentalOfFacilitiesToOtherOrgs
Rental Of Facilities Fr Other Orgs1RentalOfFacilitiesFrOtherOrgs
Perform Of Services For Other Orgs0PerformOfServicesForOtherOrgs
Perform Of Services By Other Orgs0PerformOfServicesByOtherOrgs
Sharing Of Facilities0SharingOfFacilities
Sharing Of Paid Employees0SharingOfPaidEmployees
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrg
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrg
Other Transfer To Other Org0OtherTransferToOtherOrg
Other Transfer From Other Org0OtherTransferFromOtherOrg

Transactions Related Orgs Table TransactionsRelatedOrgsTable

Name Of Other Organization NameOfOtherOrganization

FieldValueIRS element (for citing)
Business Name Line1AVERETT UNIVERSITY FOUNDATIONBusinessNameLine1
FieldValueIRS element (for citing)
Transaction TypeJTransactionType
Amount Involved324000AmountInvolved