2011-05-16T10:33:55-05:00 2010-06-30 BROWN EDWARDS & COMPANY LLP 319 MCCLANAHAN ST ROANOKE VA 24014 990 2009-07-01 540505940 RANDOLPH-MACON COLLEGE RAND 8047988372 POST OFFICE BOX 5005 ASHLAND VA 230055505 ROBERT R LINDGREN 8047988372 2011-05-13 1 M C Wingfield 5403450936 2009 2016-02-24 21:20:13Z ROBERT R LINDGREN POST OFFICE BOX 5005 ASHLAND VA 230055505 59831157 0 X www.rmc.edu X 1830 VA SEE STATEMENT ON SCHEDULE O.Randolph-Macon College is an institution of higher education, offering baccalaureate degrees in a liberal arts curriculum. 39 39 1116 100 192023 -35402 8360548 7767462 41273507 43883143 -4896287 4465572 834853 670834 45572621 56787011 14748325 16246446 0 21552644 23133391 19205 24463 2988852 21007825 17842136 57327999 57246436 -11755378 -459425 166387038 176443825 37624935 38972200 128762103 137471625 Randolph-Macon is an undergraduate, coeducational college of the liberal arts. The purpose of a Randolph-Macon education is to develop the mind and the character of its students. They are challenged to communicate effectively, to think analytically and critically, to experience and appreciate the creative process, to develop qualities of leadership, and to synthesize what they know with who they are. At Randolph-Macon College the liberal arts constitute a comprehensive educational opportunity. The curriculum includes exposure both to broad perspectives and specific concepts. Students explore the natural and social sciences, the arts, and the humanities, while they also achieve a deeper understanding of the single discipline in which they major. They are guided in this endeavor by a faculty of teacher-scholars who are dedicated to the liberal arts and active in their professional disciplines and in the extra-curricular life of the campus. 0 0 48911468 16246446 44029597 RANDOLPH-MACON COLLEGE IS AN INSTITUTION OF HIGHER EDUCATION PROVIDING A FOUR YEAR LIBERAL ARTS CURRICULUM TO APPROXIMATELY 1,246 STUDENTS. 48911468 1 1 0 1 0 0 1 0 1 1 1 0 1 0 0 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 1499 0 1 1116 1 1 1 1 EI 0 0 0 0 0 0 0 1 1 39 39 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X JOHN A AHLADAS TREASURER 8047527241 310 N CENTER STREET ASHLAND VA 23005 S ANDREW BANKS 1.00 X 0 0 0 J W WHITING CHISMAN JR 1.00 X 0 0 0 JOHN P CLARKE MD 1.00 X 0 0 0 JOHN P COUGILL 1.00 X 0 0 0 RALPH R CROSBY JR 1.00 X 0 0 0 JAMES A DAVIS PHD 1.00 X 0 0 0 PARKER O DILLARD 1.00 X 0 0 0 JACK M ENOCH JR 1.00 X 0 0 0 ROBIN ANN FLOYD 1.00 X 0 0 0 DOUGLAS W FOARD PHD 1.00 X 0 0 0 WHITNEY K FORSTNER 1.00 X 0 0 0 MICHAEL A JESSE PHD 1.00 X 0 0 0 CHARLENE P KAMMERER BISHOP 1.00 X 0 0 0 WILLIAM B KILDUFF ESQUIRE 1.00 X 0 0 0 CHARLES B KING REVEREND 1.00 X 0 0 0 FRANK E LAUGHON JR 1.00 X 0 0 0 STEPHEN P LONG MD 1.00 X 0 0 0 E JACKSON LUCK 1.00 X 0 0 0 ANNE DERBY MCDOUGALL ESQUIRE 1.00 X 0 0 0 CHARLES P MONCURE JR 1.00 X 0 0 0 ANNE NELSON MORCK 1.00 X 0 0 0 FRANK J MURPHY III 1.00 X 0 0 0 ALLISON M O'BRIEN 1.00 X 0 0 0 MARK V OGREN REVEREND 1.00 X 0 0 0 STEVEN M PARKER 1.00 X 0 0 0 DONALD E PERRY 1.00 X 0 0 0 ALAN B RASHKIND ESQUIRE 1.00 X 0 0 0 DIANNE L REYNOLDS-CANE 1.00 X 0 0 0 ROBERT EARL RILEY 1.00 X 0 0 0 JAMES L SANDERLIN ESQUIRE 1.00 X 0 0 0 BENJAMIN S SCHAPIRO 1.00 X 0 0 0 THOMAS G SHAFRAN 1.00 X 0 0 0 LEE B SPENCER JR ESQUIRE 1.00 X 0 0 0 HAROLD E STARKE JR ESQUIRE 1.00 X 0 0 0 GEORGE A TRIVETTE MD 1.00 X 0 0 0 R DOUGLAS WHITE 1.00 X 0 0 0 CHARLES S WILSON JR MD 1.00 X 0 0 0 CHARLES W WORNOM 1.00 X 0 0 0 DAVID E YAWARS 1.00 X 0 0 0 ROBERT R LINDGREN 40.00 X 260174 0 196497 JOHN A AHLADAS 40.00 X 148799 0 14774 JOHN CONKRIGHT 40.00 X 110938 0 20047 WILLIAM W JOHNSTON 40.00 X 143769 0 22628 DIANE M LOWDER 40.00 X 147638 0 32682 GRANT AZDELL 40.00 X 105143 0 19530 THOMAS INGE 40.00 X 138126 0 19173 JOHN RABUNG 40.00 X 115944 0 18014 1170531 0 343345 12 0 1 0 CHARTWELLS PO BOX 91337 CHICAGO IL 606931337 FOOD SERVICES 2915099 ROYALL & COMPANY 1920 EAST PARHAM ROAD RICHMOND VA 23228 DIRECT MARKETING CONSULTANTS 482159 HANBURY EVANS WRIGHT VLATTAS & CO 120 ATLANTIC STREET NORFOLK VA 23510 ARCHITECTURAL SERVICES 273011 USI INSURANCE SERVICES 4880 COX ROAD SUITE 102 GLEN ALLEN VA 23060 INSURANCE SERVICES 268767 EMC MECHANICAL SERVICES PO BOX 6328 RICHMOND VA 23230 HVAC CONTRACTOR 245530 12 864512 6902950 901024 7767462 TUITION AND FEES 611600 35196491 35196491 AUXILIARY SERVICES 611600 8686652 8655657 30995 43883143 5502562 1892 5500670 84553 36719 47834 47834 47834 1036990 2073980 -1036990 -1036990 -1036990 1155479 933447 222032 177449 44583 MISCELLANEOUS PROGRAMS 900099 400968 114553 286415 400968 56787011 44029597 192023 4797929 16246446 16246446 1116418 474886 285755 355777 17221574 13976019 2254912 990643 1383467 1093854 189296 100317 2139507 1691650 292727 155130 1272425 1005140 174702 92583 76468 76468 71298 71298 24463 24463 144350 97783 33964 12603 986169 846257 123417 16495 2611764 1625092 402138 584534 673490 368631 298882 5977 2657446 2509539 99052 48855 673561 517307 81642 74612 468645 186060 208405 74180 850435 827195 15571 7669 2279503 2133659 108449 37395 217684 217684 studENT FOOD SERVICE 2488498 2488498 POST RETIREMENT BENEFIT 1887676 1472387 226521 188768 INTERCOLLEGIATE ATHLETI 826419 826419 OTHER SUPPLIES, SERVICE 565264 161180 185233 218851 LIBRARY & LIBRARY SERVI 363466 363466 57246436 48911468 5346116 2988852 4869102 5828310 4878866 5900151 5807623 5841164 1146304 1282625 4312584 4306140 233673 209371 84537922 39372245 45219660 45165677 68080286 77269506 29880671 28630446 1958269 2010435 166387038 176443825 2307380 2461506 1433308 1509740 21675000 20825000 892835 834192 11316412 13341762 37624935 38972200 X 73472617 73978584 16853544 24211164 38435942 39281877 128762103 137471625 166387038 176443825 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 4997 4997 0 Part II-B, Line 1i: Explanation of Other Lobbying Activities: The College is a member of the Council of Independent Colleges in Virginia (CICV), an association of 27 independent colleges and universities. CICV works to promote the interests of non-profit, independent higher education in Virginia. CICV worked to initiate and continues to promote the state's non-need based tuition assistance program for Virginia students attending a private institution. Additionally, CICV monitors legislative and regulatory actions which affect the membership by a presence during the General Assembly sessions to review proposed legislation and interact with various administrative agencies. CICV is engaged in promoting the awareness of Virginia's independent colleges to potential students through publications and by sponsoring VA Private College Week. CICV also provides analyzed data to member institutions and appropriate state agencies to promote ventures where efficiencies can be achieved by the participation of a group of institutions. The College pays a membership fee based upon student population. For the year ended June 30, 2010, CICV expended approximately 8.1% of the membership fee for lobbying activities. The College is a member of The National Association of Independent Colleges and Universities (NAICU). NAICU serves as the unified national voice of independent higher education. Since 1976, the association has represented private colleges and universities on policy issues with the federal government, such as those affecting student aid, taxation, and government regulation. The NAICU staff meets with policymakers, tracks campus trends, conducts research, analyzes higher education issues, publishes information, helps coordinate state-level activities, and advises members of legislative and regulatory developments with potential impact on their institutions. NAICU spearheaded initiatives include the Student Aid Alliance, an effort to enhance funding for existing student aid programs, and the nonpartisan National Campus Voter Registration Project. NAICU's 1,000 members nationwide reflect the diversity of private, nonprofit higher education in the United States. Members include traditional liberal arts colleges, major research universities, church- and faith-related institutions, historically black colleges and universities, women's colleges, performing and visual arts institutions, two-year colleges, and schools of law, medicine, engineering, business, and other professions. NAICU is committed to celebrating and protecting this diversity of the nation's private colleges and universities. 1226555 X X X 0 96099380 1289142 13515077 1288186 4035581 103125070 127907075 2145753 -28490056 1159485 4303907 96099380 0.52730 0.35100 0.12170 1 0 2946972 2946972 63465476 27411261 36054215 308834 29597 279237 15362852 11931387 3431465 2453788 2453788 45165677 CASH AND TEMPORARY INVESTMENTS 3867404 F MARKETABLE ALTERNATIVE ASSETS 15121823 F NONMARKETABLE ALTERNATIVE ASSETS 6586015 F REAL ESTATE/MORTGAGES AND OTHER 3055204 F 28630446 ANNUITIES PAYABLE 1424644 POST RETIREMENT BENEFIT LIABILITY 9564259 REFUNDABLE LOAN PROGRAMS 2352859 13341762 56787011 57246436 -459425 9168947 9168947 8709522 50679678 9168947 970166 10139113 40540565 16246446 16246446 56787011 41970156 970166 970166 40999990 16246446 16246446 57246436 Part III, Line 4: Randolph-Macon College maintains a collection of original art which serves as a primary source for research, education and edification. Built around a donation of Oriental Art from the estate of Senator Hugh Scott, an alumnus of the college, the present collection has been formed mostly from donations to further the permanent holdings in art for the benefit of faculty and students. No aspect or item from the permanent collection is offered for sale or purchase; the collection remains intact for academic study. Part X: Description of Uncertain Tax Positions Under FIN 48: The federal Form 990 of the College for fiscal years 2009, 2008, and 2007 are subject to examination by the Internal Revenue Service, generally for three years after they are filed. Part XII, Line 2d - Other Adjustments: BOOK STORE COST OF GOODS SOLD NETTED AGAINST INCOME: 933447. RENTAL EXPENSES NETTED AGAINST INCOME: 36719. Part XII, Line 4b - Other Adjustments: GRANTS AND FINANCIAL AID PAID: 16246446. Part XIII, Line 2d - Other Adjustments: BOOK STORE COST OF GOODS SOLD NETTED AGAINST INCOME: 933447. RENTAL EXPENSES NETTED AGAINST INCOME: 36719. Part XIII, Line 4b - Other Adjustments: GRANTS AND FINANCIAL AID PAID: 16246446. 1 1 1 THE COLLEGE'S NON-DISCRIMINATORY POLICY IS STATED IN THE COLLEGE CATALOG, ADMISSIONS BROCHURES AND IN RECRUITING MATERIALS. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 THE COLLEGE RECEIVES FEDERAL FINANCIAL AID MOST OF WHICH IS PASSED THROUGH TO STUDENTS. 1 X X X X X X 1 MICHAEL J WORTH & ASSOCIATES CAMPAIGN FEASIBILITY STUDY 0 0 24463 0 24463 VA 1 COLLEGE DESIGNATED (UNFUNDED) GRANTS AND SCHOLARSHIPS 1221 14252116 DONOR RESTRICTED (FUNDED) GRANTS AND SCHOLARSHIPS 247 1902614 FEDERAL SUPPLEMENTAL GRANTS 103 91716 X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 ROBERT R LINDGREN 260174 0 0 0 0 0 162700 0 33797 0 456671 0 0 0 JOHN A AHLADAS 148799 0 0 0 0 0 13245 0 1529 0 163573 0 0 0 WILLIAM W JOHNSTON 143769 0 0 0 0 0 13048 0 9580 0 166397 0 0 0 DIANE M LOWDER 147638 0 0 0 0 0 23301 0 9381 0 180320 0 0 0 THOMAS INGE 138126 0 0 0 0 0 11691 0 7482 0 157299 0 0 0 INDUSTRIAL DEVELOPMENT AUTHORITY OF THE TOWN OF ASHLAND VIRGINIA 521353936 2004-12-15 4900000 RENOVATE DORMITORIES, REFURBISH GYM, UPGRADE HVAC IN GYM & ADDITIONAL DORMS 0 0 4900000 59895 4840105 2007 0 0 1 1 0 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0 0 E JACKSON LUCK TRUSTEE 23318 JACKSON LUCK IS A PRINCIPAL IN LUCK MOTORS, A LOCAL CHEVROLET DEALER. THE COLLEGE PURCHASED A 2007 CHEVROLET MALIBU, MADE DOWN PAYMENTS ON FOUR NEW LEASES WITH GMAC/ALLY, AND PURCHASED PARTS AND LABOR FROM THE DEALERSHIP DURING THE YEAR. 0 X 1331 donor value X 71 829431 ave high/low at transfer X EQUIPMENT & FURNITURE 7 25985 DONOR VALUE X ATHLETIC SUPPLIES 1 1500 DONOR VALUE X OTHER SUPPLIES 9 9638 dONOR VALUE X HOSPITALITIY 21 33139 dONOR VALUE X OTHER 1 250 dONOR VALUE 0 1 0 Form 990, Part VI, Section B, line 11 Process for reviewing 990: THE TREASURER, CONTROLLER AND PRESIDENT CONSULT TO DETERMINE THAT A DRAFT OF THE 990 FORM IS ACCURATE TO THE BEST OF THEIR KNOWLEDGE. THE DRAFT IS THEN MADE AVAILABLE TO ALL MEMBERS OF THE BOARD OF TRUSTEES (BOT) ELECTRONICALLY. CORRECTIONS, COMMENTS AND SUGGESTIONS FROM ALL MEMBERS ARE COMPILED AND, AS APPROPRIATE, INCORPORATED INTO THE RETURN, AND, BY CHARTER MANADATE, THE AUDIT COMMITTEE OF THE BOT REVIEWS THE DRAFT FOR ACCURACY BEFORE FINAL FILING. Form 990, Part VI, Section B, line 12c Annually each fall the Assistant Secretary to the Board of Trustees distributes the conflict of interest disclosure statements to the trustees and to covered employees. He is responsible for ensuring that all distributed statements are completed and returned and reviewed for potential conflicts. The Vice President for Finance and Administration reports the results of the questionnaires to the Audit Committee of the Board. The Audit Committee reports conflicts to the full Board for appropriate resolution. Form 990, Part VI, Section B, line 15a Yes. Initially, a Board committee appointed to hire a President works with professional search consultants for hiring. The Compensation Committee of the Board uses multiple benchmarks to determine an employment package, the results of such deliberation are borne out by the salary letter signed by the Chair of the Board. These steps were followed in hiring a new President in early 2006. The Presidential Evaluation/Compensation Committee meets annually to evaluate the performance of the President and to determine compensation adjustments based on current benchmarking information. Form 990, Part VI, Section C, line 18 UPON REQUEST Form 990, Part VI, Section C, line 19 UPON REQUEST FORM 990, PART XI, LINE2C: THE AUDIT COMMITTEE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART IX, LINE 12: LINE 12 ADVERTISING Advertising and promotion expenses include, but are not limited to, the printing and publication of materials to make potential students aware of the College's programs and opportunities. This line also includes the expenses of publicizing events and activities sponsored by Alumni Relations, Office of Advancement, Athletics and other departments on campus to students, faculty, staff, alumni and the general public. FORM 990, PART III, LINE 1: CONTINUATION OF MISSION STATEMENT At Randolph-Macon the maturation and testing of the skills, values, and character required for a lifetime of challenges extends beyond the classroom. Students are encouraged to meet with faculty both socially and intellectually, and they have the opportunity to participate in a variety of extra-curricular activities. Interaction within the college community is assured by residential environment and an enrollment of approximately twelve hundred. Located in Ashland, Virginia Randolph-Macon College offers a curriculum and a cultural life enriched by the close proximity of Metropolitan Richmond and Washington, D.C. A Randolph-Macon education conveys a sense of life defined by historical continuity and ethical responsibility. Founded by Methodists in 1830, Randolph-Macon is an independent college that retains a relationship with the United Methodist Church. Through this living tie the College draws strength from a religious tradition that nurtures creative social change and personal accountability. Randolph-Macon believes that a liberal arts education challenges the intellect, imagination, and character. Graduates of the College have the capacity to realize their potential as professionals, leaders, and lifelong learners. The comprehensive nature of a liberal arts education at Randolph-Macon College prepares students to respond to the changing career opportunities and to meet life's challenges with confidence, enthusiasm, and ethical awareness. FORM 990, PART IX, LINE 24A: LINE 24A: OTHER SUPPLIES AND SERVICES This amount includes purchases of supplies, equipment and maintenance expense as well as activities related to classrooms, laboratories, athletics programs and other departments. SCHEDULE K SCHEDULE K, SUPPLEMENTAL INFORMATION ON TAX-EXEMPT BONDS General: Form 8038 filed by Industrial Development Authority of the Town of Ashland, Virginia, was prepared using employer identification number 56-6001129 before receiving notification that their correct FEIN is 52-1353936. We have used this correct identifier in completing our Schedule K. Further, the Form 8038 reports on Educational Facilities Revenue Note (Randolph-Macon College Project), Series 2004A and B; our Schedule K reports on Series 2004A only. The period covered by Schedule K is the fiscal year, July 1, 2009-June 30, 2010. Part I line A, column (e) Issue price of Educational Facilities Revenue Note (Randolph-Macon College Project), Series 2004A and B is shown on Form 8038 as $6,500,000. The issue price of Series 2004A alone was $4,900,000. Part II line 5 Amount shown in column A is 100% issuance cost; no credit enhancement fees have been paid.