2026-04-02T11:21:53+00:00 2025-05-31 135381590 BDO USA 421 FAYETTEVILLE ST STE 300 RALEIGH NC 276011776 990 2024-06-01 560556753 LENOIR-RHYNE UNIVERSITY LENO 8283287100 PO BOX 7164 HICKORY NC 286037164 Summer McGee PRESIDENT 8283287100 2026-04-02 true SANDRA L FEINSMITH P01064157 9197549370 2026-04-02 2024 2025-03-06 01:10:19Z Summer McGee PO BOX 7164 HICKORY NC 286037164 92733732 false X WWW.LR.EDU X 1905 NC LENOIR-RHYNE UNIVERSITY PROVIDES PROGRAMS OF UNDERGRADUATE, GRADUATE AND CONTINUING STUDY COMMITTED TO THE LIBERAL ARTS AND SCIENCES. THE UNIVERSITY AWARDS BACHELORS AND MASTER DEGREES. 27 26 926 75 -42735 0 10220837 8996086 66332063 65557939 7098843 6549928 37268 -6420 83689011 81097533 27176406 25400110 0 0 29615976 28205570 0 0 2336616 33311026 28881017 90103408 82486697 -6414397 -1389164 291373063 294583155 75928610 74297059 215444453 220286096 PROVIDE EDUCATIONAL PROGRAMS AND CONFER UNDERGRADUATE DEGREES IN APPROXIMATELY 60 ACADEMIC PROGRAMS OF STUDY. THE UNIVERSITY OFFERS 57 DIFFERENT PROGRAMS OF STUDY FOR UNDERGRADUATES AND 24 DIFFERENT PROGRAMS FOR GRADUATE DEGREES. false false 59036077 25400110 53678109 EXPENSES RELATED TO PROVIDING THE PRIMARY PURPOSE OF EDUCATION FOR UNDERGRADUATE AND GRADUATE STUDENTS. 5448626 0 10771185 AUXILIARY SERVICES - EXPENSES RELATED TO THE FUNCTION OF FURNISHING GOODS OR SERVICES TO STUDENTS, FACULTY, OR STAFF. EXAMPLES ARE RESIDENCE HALLS AND FOOD SERVICES. 3636967 0 1108645 ACADEMIC SUPPORT - EXPENSES INCURRED TO PROVIDE SUPPORT SERVICES FOR THE INSTITUTION'S PRIMARY MISSION OF INSTRUCTION. 68121670 true true false false false false false false true true true true false false true true false true true false false false false false false false false false true true true false false false false false false false false false false true false false false false false false false false false true 2691 0 true 926 true true true false false false false false false false false false false false X 27 26 true true false false false true false true true false false false true true true true true true true true false false NC SC X JEREMY SHREVE 8283287100 PO BOX 7164 HICKORY NC 286037164 BOYD C WILSON JR VICE CHAIR 1.0 0.0 X X 0 0 0 DR FREDERICK K WHITT PRESIDENT 40.0 0.0 X X 492170 0 92318 JANIE PARKS PEAK TRUSTEE 1.0 0.0 X X 0 0 0 JEARLD LEONHARDT TREASURER 1.0 0.0 X X 0 0 0 KATHERINE ESCH SECRETARY 1.0 0.0 X X 0 0 0 MADELEINE S DASSOW CHAIR 1.0 0.0 X X 0 0 0 BOYD GEORGE TRUSTEE 1.0 0.0 X 0 0 0 CHRIS PEEK TRUSTEE 1.0 0.0 X 0 0 0 CORIE PAULING TRUSTEE 1.0 0.0 X 0 0 0 EDWARD BEARD JR AT LARGE 1.0 0.0 X 0 0 0 GABRIELLE KELLY TRUSTEE 1.0 0.0 X 0 0 0 GEORGE A MORETZ TRUSTEE 1.0 0.0 X 0 0 0 HANSEL R MCCRORIE TRUSTEE 1.0 0.0 X 0 0 0 ISAIAH OGLESBY TRUSTEE 1.0 0.0 X 0 0 0 KATHERINE MCKENZIE TRUSTEE 1.0 0.0 X 0 0 0 LESLIE LAMBERT TRUSTEE 1.0 0.0 X 0 0 0 MARGARET JACKSON TRUSTEE 1.0 0.0 X 0 0 0 MARVIN S EDWARDS TRUSTEE 1.0 0.0 X 0 0 0 MICHAEL THOMAS TRUSTEE 1.0 0.0 X 0 0 0 PERRELL D BESS TRUSTEE 1.0 0.0 X 0 0 0 REV CHRISTOPHER WEBB TRUSTEE 1.0 0.0 X 0 0 0 REV DR ERIC CHILDERS TRUSTEE 1.0 0.0 X 0 0 0 REV DR TIMOTHY M SMITH TRUSTEE 1.0 0.0 X 0 0 0 RICK GOERES TRUSTEE 1.0 0.0 X 0 0 0 STEPHANIE DELGADO TRUSTEE 1.0 0.0 X 0 0 0 STEPHEN MISENHEIMER TRUSTEE 1.0 0.0 X 0 0 0 STEVEN CARTER TRUSTEE 1.0 0.0 X 0 0 0 Catherine Niekro VP Institutional Advancement 40.0 0.0 X 194175 0 50215 Dr JENNIFER BURRIS PROVOST & VP ACADEMIC AFFAIRS 40.0 0.0 X 215238 0 51271 JEREMY SHREVE VP BUSINESS & FINANCE 40.0 0.0 X 193108 0 59173 Douglas Socha Head Football Coach 40.0 0.0 X 142648 0 31341 KIMBERLY PATE VP ATHLETICS (ended 9/17/2024) 40.0 0.0 X 152646 0 29719 LAURA CRAWLEY VP MISSION ENGAGEMENT & INNOVATION (ended 8/01/2024) 40.0 0.0 X 178690 0 29741 Loury Floyd Assistant Provost for Academic Operations 40.0 0.0 X 157908 0 31775 Wesley N Reid Assistant Professor and Physician Assistant Studies Program Director 40.0 0.0 X 117441 0 37827 1844024 0 413380 24 false true false ARAMARK CAMPUS SERVICES LR BOX 7476 HICKORY NC 28603 FOOD SERVICES 2977611 David E Looper & Co PO Box 3224 Hickory NC 28603 construction services 2755790 Aramark Management Services LP PO Box 978839 Dallas TX 75397 General Contractor 2487021 ARAMARK FACILITIES SERVICES 1255 CRESCENT GREEN DRIVE SUITE 210 cary NC 27518 MAINTENANCE & HOUSEKEEPING 2133249 CAPTURE LLC 2303 RIVER ROAD SUITE 201 LOUISVILLE KY 40206 marketing services 631059 50 372070 8624016 457875 8996086 TUITION AND FEES 611710 53678109 53678109 0 0 AUXILIARY SERVICES 611710 10771185 10771185 0 0 OTHER FEES/ADMISSIONS 611710 1108645 1108645 0 0 0 0 0 0 65557939 5811592 0 -46598 5858190 62071 0 68491 0 -6420 0 -6420 0 0 -6420 12306044 0 11567708 0 738336 0 738336 0 3863 734473 0 0 0 0 0 81097533 65557939 -42735 6586243 25400110 25400110 0 0 1811500 912500 899000 0 21078752 18929229 1049469 1100054 1001990 861200 84236 56554 2712475 2385731 209801 116943 1600853 1369530 152468 78855 5231515 5231515 320377 167848 138502 14027 205700 107768 88926 9006 238432 0 238432 0 3717444 1947602 1607084 162758 305716 160167 132164 13385 775465 406273 335240 33952 2780938 1456958 1202224 121756 5371 2814 2322 235 12415 6504 5367 544 1833953 1648196 138958 46799 414406 217111 179151 18144 3028999 1586919 1309463 132617 4250911 2227090 1837706 186115 1278585 669862 552744 55979 UTILITIES 2706033 1417715 1169842 118476 REPAIRS/SERVICE AGREEMENTS 1293075 677453 559008 56614 MEMBERSHIPS & DUES 315292 165185 136304 13803 BAD DEBTS 166390 166390 0 0 0 0 0 0 82486697 68121670 12028411 2336616 2000 2000 22151235 14156748 8334008 5924729 2174707 3027643 0 0 0 0 0 0 5708 0 5589377 5707796 208965757 86758366 115601852 122207391 68826156 91282748 64016185 46996531 0 0 0 4671835 5277569 291373063 294583155 9001716 8037442 0 0 2219314 2213571 51567942 51606408 198015 171793 0 0 0 0 0 0 12941623 12267845 75928610 74297059 X 66823485 67082512 148620968 153203584 215444453 220286096 291373063 294583155 X -1389164 5625073 605734 X X false true true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true X 136106163 3541008 11831310 0 5942185 0 145536296 128381078 1409652 14297905 0 7982472 0 136106163 136615092 643135 -933735 3056067 4692709 194638 128381078 138409957 2421688 1279436 2911561 2109278 475150 136615092 112044028 1623632 29959817 2706211 2002972 508337 138409957 0.0052 0.9704 0.0244 false false 362815 2562528 2925343 102556835 45846239 56710596 83851666 25145829 58705837 15264911 12345243 2919668 4367002 3421055 945947 122207391 Closely-held equity interests Financial derivatives PRIVATE EQUITY 22509489 F HEDGE FUNDS 17678543 F EQUITY FUNDS REAL ASSETS 4076 F BOND FUNDS ANNUITY CONTRACTS illiquid real assets 6293135 F other investments 511288 F 46996531 Federal Income Taxes LINES OF CREDIT 12267845 12267845 X 61758289 5625073 674225 6299298 55458991 238432 25400110 25638542 81097533 56916646 68491 68491 56848155 238432 25400110 25638542 82486697 Schedule D, Part IV, Line 2b Explanation of escrow agreement LENOIR-RHYNE UNIVERSITY SERVES AS CUSTODIAN FOR FUNDS BELONGING TO VARIOUS STUDENT ORGANIZATIONS. GROUPS ARE ABLE TO ACCESS THE FUNDS ON REQUEST WITH APPROVAL OF ADVISOR. Schedule D, Part V, Line 4 Intended uses of endowment funds PROVIDE SCHOLARSHIPS, PROFESSORSHIPS, AND PROGRAM SUPPORT AS DESIGNATED BY DONORS. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote THE UNIVERSITY IS A TAX-EXEMPT ENTITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC"). MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INCOME TAXES TOPIC OF THE FASB ASC. THE UNIVERSITY FILES A FORM 990-T IN ACCORDANCE WITH APPLICABLE U.S. FEDERAL REGULATIONS. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 CHANGE IN VALUE OF PERPETUAL TRUSTS AND SPLIT-INTEREST AGREEMENTS - 605734 RENTAL EXPENSES - 68491 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements GRANTS AND SCHOLARSHIPS - 25400110 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 RENTAL EXPENSES - 68491 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements GRANTS AND SCHOLARSHIPS - 25400110 true true false true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY THE ORGANIZATION HAS NO ADVERTISING DIRECTLY TO STUDENTS. THE ORGANIZATION DISPLAYS THIS POLICY IN ITS CATALOGUE AND ON REGISTRATION MATERIALS. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT LENOIR-RHYNE UNIVERSITY STUDENTS RECEIVE A VARIETY OF FEDERAL AND STATE GRANTS AND LOANS, INCLUDING BUT NOT LIMITED TO, DIRECT LOANS, PELL GRANTS, AND NORTH CAROLINA NEED-BASED SCHOLARSHIP PROGRAMS. true SCHOLARSHIPS & FELLOWSHIPS TO UNDERGRAD STUDENTS 1273 23768976 SCHOLARSHIPS & FELLOWSHIPS TO GRADUATE STUDENTS 207 1631134 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds GRANTS ARE AWARDED TO STUDENTS BASED UPON THE CRITERIA ESTABLISHED WITH EACH GRANT. FINANCIAL AID PERSONNEL MONITOR EACH GRANT ALONG WITH THE TOTAL AID RECEIVED BY EACH STUDENT TO ENSURE THAT INDIVIDUALS AS WELL AS COLLECTIVE AWARDS ARE WITHIN THE GUIDELINES ESTABLISHED BY STATE AND FEDERAL GOVERNMENTAL AGENCIES. X X X false true false false false false false false false DR FREDERICK K WHITT PRESIDENT 436161 0 50000 0 6009 0 74200 0 18118 0 584488 0 0 0 JEREMY SHREVE VP BUSINESS & FINANCE 192868 0 0 0 240 0 34680 0 24493 0 252281 0 0 0 Dr JENNIFER BURRIS PROVOST & VP ACADEMIC AFFAIRS 214686 0 0 0 552 0 40200 0 11071 0 266509 0 0 0 Catherine Niekro VP Institutional Advancement 191613 0 0 0 2562 0 33167 0 17048 0 244390 0 0 0 Loury Floyd Assistant Provost for Academic Operations 156876 0 0 0 1032 0 14990 0 16785 0 189683 0 0 0 Douglas Socha Head Football Coach 130071 0 5000 0 7577 0 11250 0 20091 0 173989 0 0 0 Wesley N Reid Assistant Professor and Physician Assistant Studies Program Director 116889 0 0 0 552 0 12850 0 24977 0 155268 0 0 0 LAURA CRAWLEY VP MISSION ENGAGEMENT & INNOVATION (ended 8/01/2024) 142002 0 36000 0 688 0 13432 0 16309 0 208431 0 0 0 KIMBERLY PATE VP ATHLETICS (ended 9/17/2024) 122376 0 30000 0 270 0 11515 0 18204 0 182365 0 0 0 Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan PART II COLUMN C INCLUDES $50,000 CONTRIBUTION TO 457(F) NONQUALIFIED PLAN FOR FREDERICK K. WHITT. A PUBLIC FINANCE AUTHORITY 273866124 74443DHY0 2022-07-14 52294586 SEE PART VI false false false A 52294586 803576 16304084 36351926 2022 true false true true A false false false false false false 0 0 0.0 true false 0 false false A false true false false false false 0 false false false 0 false false false A true Schedule K, Part I, Column (f) DESCRIPTION OF PURPOSE ISSUER NAME: PUBLIC FINANCE AUTHORITY NAME OF ISSUE: EDUCATIONAL FACILITIES REV. AND REV. REFUNDING BONDS (LENOIR-RHYNE UNIVERSITY), SERIES 2022 PROCEEDS FROM THE ISSUANCE WERE USED TO REFUND PREVIOUS ISSUED BONDS AND TO FINANCE CAPITAL PROJECTS ON CAMPUS. 14 457875 Market value 0 false false false Schedule M, Part I, Line 33 Noncash contribution amounts not reported MANAGEMENT RETAINS RECORDS OF EACH DONATION, INCLUDING THE DONOR NAME AND DESCRIPTION OF DONATION; HOWEVER, IT IS THE POLICY OF THE UNIVERSITY TO REFRAIN FROM RECORDING CONTRIBUTION REVENUE FOR MINIMAL DONATIONS. Schedule M, Part I Explanations of reporting method for number of contributions Securities - Publicly traded - THE NUMBER IN COLUMN B REFLECTS THE NUMBER OF CONTRIBUTORS. Form 990, Part VI, Line 2 FAMILY/BUSINESS RELATIONSHIPS AMONGST INTERESTED PERSONS HICKORY IS A RELATIVELY SMALL TOWN, AND MANY MEMBERS ON THE BOARD (OR A FAMILY MEMBER) OPERATE A BUSINESS IN TOWN THAT OTHERS MAY PATRONIZE IN THE NORMAL COURSE OF BUSINESS. Form 990, Part VI, Line 15 Process for determining compensation THE EXECUTIVE COMMITTEE OF THE BOARD CONDUCTS AN ANNUAL PERFORMANCE APPRAISAL OF THE PRESIDENT. THIS COMMITTEE THEN APPROVES CHANGES IN COMPENSATION AND/OR THE EMPLOYMENT CONTRACT OF THE PRESIDENT BASED ON A REVIEW OF HISTORICAL COMPENSATION DATA COMPILED REGARDING THE COMPENSATION OF THE PRESIDENTS OF SIMILAR ORGANIZATIONS IN NORTH CAROLINA AND THROUGHOUT THE UNITED STATES. Form 990, Part VI, Line 3 Delegation of management duties THE UNIVERSITY HAS FOUR SIGNIFICANT MANAGEMENT CONTRACTS WITH OUTSIDE SERVICE PROVIDERS. THESE INCLUDE MANAGEMENT (ARAMARK), DINING SERVICES (ARAMARK), BOOKSTORE OPERATIONS (FOLLETT HIGHER EDUCATION GROUP), AND IT OPERATIONS (ELLUCIAN CO., LP). IN ALL OF THESE INSTANCES THE UNIVERSITY HAS A DETAILED CONTRACT WITH THE VENDOR THAT CLEARLY DELINEATES THE AUTHORITY THESE ORGANIZATIONS AND THEIR EMPLOYEES HAVE TO PROVIDE MANAGEMENT AND OTHER SERVICES. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body THE MEMBERS OF THE BOARD OF TRUSTEES ARE ELECTED BY THE ORGANIZATION'S GOVERNING BODY WITH THE EXCEPTION OF THE BISHOP OF THE NC SYNOD. THE BISHOP OF THE NC SYNOD IS ELECTED BY THE DELEGATES TO THE SYNOD CONVENTION AND HE/SHE HOLDS AN EX-OFFICIO VOTING POSITION ON THE BOARD OF TRUSTEES. Form 990, Part VI, Line 11b Review of form 990 by governing body THE 990 IS REVIEWED BY THE BUSINESS OFFICE STAFF. THEN IT IS REVIEWED BY THE AUDIT COMMITTEE. THE 990 IS THEN PROVIDED DIGITALLY TO THE BOARD OF TRUSTEES FOR REVIEW PRIOR TO BEING FILED WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy THE CHAIR OF THE BOARD OF TRUSTEES AND THE PRESIDENT OF THE UNIVERSITY REQUEST THAT ALL TRUSTEES, OFFICERS, SENIOR MANAGERS AND DEPARTMENT MANAGERS REVIEW THE CONFLICT OF INTEREST POLICY AND COMPLETE THE DISCLOSURE FORM ON AN ANNUAL BASIS. Form 990, Part VI, Line 19 Required documents available to the public FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). Form 990, Part VII, Section A, Line 1a, Column (F) OTHER COMPENSATION THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN COLUMN F, PART VII AND IS NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN VALUE OF PERPETUAL TRUSTS AND SPLIT-INTEREST AGREEMENTS - 605734; Total - 605734; Form 990, Part XII, Line 2c Change of oversight process or selection process THE AUDIT COMMITTEE'S PROCESS OF OVERSIGHT AND SELECTION HAS NOT CHANGED SINCE THE PRIOR YEAR.