2025-03-27T10:30:58-05:00 2024-05-31 BDO USA 421 Fayetteville Street Suite 300 Raleigh NC 27601 990 2023-06-01 560556753 Lenoir-Rhyne University % JEREMY SHREVE LENO 8283287100 PO Box 7164 Hickory NC 286037164 Jeremy Shreve VP of Finance&Admin 8283287100 2025-03-27 true true SANDRA L FEINSMITH P01064157 9192781936 2025-03-22 2023 2025-03-06 01:10:19Z Frederick K Whitt PO Box 7164 Hickory NC 286037164 99551855 false X WWW.LR.EDU X 1905 NC SEE SCHEDULE O 27 26 951 75 -38912 0 16138525 10220837 77374110 66332063 5020686 7098843 58719 37268 98592040 83689011 38182163 27176406 0 0 28881688 29615976 0 0 2595209 32956164 33311026 100020015 90103408 -1427975 -6414397 291244186 291373063 77857640 75928610 213386546 215444453 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 63936682 27176406 55321747 Expenses Related To Providing The Primary Purpose Of Education For Undergraduate And Graduate Students. 5665606 0 9722106 Auxiliary Services - Expenses Related To The Function Of Furnishing Goods Or Services To Students, Faculty, Or Staff. Examples Are Residence Halls And Food Services. 3902826 0 1288210 Academic Support - Expenses Incurred To Provide Support Services For The Institution's Primary Mission Of Instruction. 73505114 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 true 2923 0 true 951 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 true true true true true true true true false NC SC X JEREMY SHREVE 8283287100 PO BOX 7164 Hickory NC 286037164 X DR FREDERICK K WHITT PRESIDENT 40.0 0.0 X X 694530 0 89439 JENNIFER BURRIS PROVOST & VP ACADEMIC AFFAIRS 40.0 0.0 X 215350 0 58547 JEREMY SHREVE VP BUSINESS & FINANCE 40.0 0.0 X 193094 0 53296 CATHERINE NIEKRO VP ADVANCEMENT, MARKETING&COMM 40.0 0.0 X 196161 0 48978 LAURA CRAWLEY VP MISSION ENGAGEMENT & INNOVA 40.0 0.0 X 210451 0 33612 AVERY STALEY VICE PRESIDENT OF DEI 40.0 0.0 X 165552 0 14850 KIMBERLY PATE VP ATHLETICS 40.0 0.0 X 135402 0 37356 WESLEY N REID ASTP OF PA/PROGRAM DIRECTOR 40.0 0.0 X 117373 0 37465 MICHAEL JACOBS HEAD FOOTBALL COACH 40.0 0.0 X 125463 0 27428 CRAIG SCHREIBER DEAN OF THE BUSINESS SCHOOL 40.0 0.0 X 128605 0 20259 JENNIFER WYATT Asst Provost Undergraduate Edu 40.0 0.0 X 116982 0 19404 SCOTT WEDDINGTON DEAN EDUCATION & HUMANITIES 40.0 0.0 X 114279 0 10245 MADELEINE S DASSOW CHAIR 1.0 0.0 X X 0 0 0 BOYD C WILSON JR VICE CHAIR 1.0 0.0 X X 0 0 0 KATHERINE ESCH SECRETARY 1.0 0.0 X X 0 0 0 JEARLD LEONHARDT TREASURER 1.0 0.0 X X 0 0 0 JANIE PARKS PEAK TRUSTEE 1.0 0.0 X 0 0 0 EDWARD BEARD JR AT LARGE 1.0 0.0 X 0 0 0 PERRELL D BESS TRUSTEE 1.0 0.0 X 0 0 0 STEVEN CARTER TRUSTEE 1.0 0.0 X 0 0 0 REV DR ERIC CHILDERS TRUSTEE 1.0 0.0 X 0 0 0 STEPHANIE DELGADO TRUSTEE 1.0 0.0 X 0 0 0 MARVIN S EDWARDS TRUSTEE 1.0 0.0 X 0 0 0 BOYD GEORGE TRUSTEE 1.0 0.0 X 0 0 0 RICK GOERES TRUSTEE 1.0 0.0 X 0 0 0 MARGARET JACKSON TRUSTEE 1.0 0.0 X 0 0 0 GABRIELLE KELLY TRUSTEE 1.0 0.0 X 0 0 0 LESLIE LAMBERT 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 KATHERINE MCKENZIE TRUSTEE 1.0 0.0 X 0 0 0 STEPHEN MISENHEIMER TRUSTEE 1.0 0.0 X 0 0 0 ISAIAH OGLESBY TRUSTEE 1.0 0.0 X 0 0 0 CORIE PAULING TRUSTEE 1.0 0.0 X 0 0 0 CHRIS PEEK TRUSTEE 1.0 0.0 X 0 0 0 REV DR TIMOTHY M SMITH TRUSTEE 1.0 0.0 X 0 0 0 MICHAEL THOMAS TRUSTEE 1.0 0.0 X 0 0 0 REV CHRISTOPHER WEBB TRUSTEE 1.0 0.0 X 0 0 0 2413242 0 450879 19 false true false ARAMARK FACILITIES SERVICES 1255 CRESCENT GREEN DRIVE SUITE 210 CARY NC 27518 MAINT & HOUSEKEEPING 6029663 ARAMARK CAMPUS SERVICES LR BOX 7476 HICKORY NC 28603 FOOD SERVICES 3760393 EDUCATIONAL INSTITUTIONAL INS AD 200 S WACKER DRIVE SUITE 1325 CHICAGO IL 60606 INSURANCE NEEDS 1234410 CAPTURE LLC 2303 RIVER ROAD SUITE 201 LOUISVILLE KY 40206 MARKETING SERVICES 445233 ELLUCIAN CO LP 4375 FAIR LAKES CT FAIRFAX VA 22033 IT CONSULTANTS 120651 25 451861 9768976 1768263 10220837 TUITION AND FEES 611710 55321747 55321747 AUXILIARY SERVICES 611710 9722106 9722106 OTHER FEES/ADMISSIONS 611710 1288210 1288210 66332063 5595059 3140 5591919 0 0 124266 86998 37268 0 37268 37268 17279630 15775846 1503784 1503784 -42052 1545836 0 0 0 0 0 0 0 0 0 0 83689011 66332063 -38912 7175023 0 27176406 27176406 0 0 1723000 912500 810500 0 22277981 20006166 1109176 1162639 1051473 903730 88396 59347 2898827 2549635 224215 124977 1664695 1424147 158548 82000 5384003 5384003 494887 259276 213944 21667 171771 89992 74258 7521 0 0 234651 234651 2973644 1557919 1285533 130192 423277 221759 182986 18532 2451306 1284261 1059721 107324 3206893 1680120 1386368 140405 4261 2232 1842 187 25896 13567 11195 1134 1621113 1456915 122831 41367 0 537503 281603 232367 23533 3032762 1588891 1311090 132781 0 6882113 3605600 2975198 301315 1182477 619510 511195 51772 UTILITIES 2058965 1078710 890109 90146 REPAIRS/SERVICE AGREEMENTS 1373270 719468 593677 60125 MEMBERSHIPS & DUES 274856 143999 118823 12034 BAD DEBTS 231058 231058 746320 313647 406462 26211 90103408 73505114 14003085 2595209 4957 2000 23455684 22151235 9730357 8334008 5422524 2174707 0 0 0 0 0 0 10867 5708 6469223 5589377 199022906 83421054 114368867 115601852 67046044 68826156 60557846 64016185 0 0 0 0 4177817 4671835 291244186 291373063 9438386 9001716 0 0 2503834 2219314 51529493 51567942 195139 198015 0 0 0 0 0 0 14190788 12941623 77857640 75928610 X 77640452 66823485 135746094 148620968 213386546 215444453 291244186 291373063 X -6414397 7471985 1000319 X X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true X 128381078 1409652 14297905 7982472 136106163 136615092 643135 -933735 3056067 4692709 194638 128381078 138409957 2421688 1279436 2911561 2109278 475150 136615092 112044028 1623632 29959817 2706211 2002972 508337 138409957 111208887 2736504 3271871 2648833 2020558 503843 112044028 0.07370 0.73610 0.19020 false false 362815 2562528 2925343 102583191 46122783 56460408 74109738 26166046 47943692 14090367 10555671 3534696 5314267 576554 4737713 115601852 PRIVATE EQUITY 22818837 F HEDGE FUNDS 16653400 F EQUITY FUNDS 11197951 F REAL ASSETS 6196114 F BOND FUNDS 5569538 F ANNUITY CONTRACTS 1580345 F 64016185 0 LINES OF CREDIT 12941623 12941623 X 64837256 7471985 1087317 8559302 56277954 234651 27176406 27411057 83689011 62779349 86998 86998 62692351 234651 27176406 27411057 90103408 SCHEDULE D, PART IV, LINE 2B: 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: PROVIDE SCHOLARSHIPS, PROFESSORSHIPS, AND PROGRAM SUPPORT AS DESIGNATED BY DONORS. SCHEDULE D, PART X, LINE 2: 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 2D: Change in value of perpetual trusts and split-interest agreements $494,018 Gain on Loan forgiveness $506,301 Rental expenses $86,998 Total $1,087,317 SCHEDULE D, PART XI, LINE 4B: Grants and Scholarships $27,176,406 Total $27,176,406 SCHEDULE D, PART XII, LINE 2D: Rental Expenses $86,998 Total $86,998 SCHEDULE D, PART XII, LINE 4B: Grants and Scholarships $27,176,406 Total $27,176,406 true true false true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3: 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: 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 1241 26088097 Scholarships & Fellowships to Graduate Students 198 1088309 SCHEDULE I, PART I, LINE 2: 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 424332 0 0 0 270198 0 72300 0 17139 0 783969 0 0 0 JENNIFER BURRIS PROVOST & VP ACADEMIC AFFAIRS 212447 0 0 0 2903 0 43200 0 15347 0 273897 0 0 0 LAURA CRAWLEY VP MISSION ENGAGEMENT & INNOVA 209659 0 0 0 792 0 19440 0 14172 0 244063 0 0 0 CATHERINE NIEKRO VP ADVANCEMENT, MARKETING&COMM 191709 0 0 0 4452 0 32000 0 16978 0 245139 0 0 0 JEREMY SHREVE VP BUSINESS & FINANCE 192854 0 0 0 240 0 28560 0 24736 0 246390 0 0 0 AVERY STALEY VICE PRESIDENT OF DEI 165000 0 0 0 552 0 14850 0 0 0 180402 0 0 0 KIMBERLY PATE VP ATHLETICS 127542 0 7500 0 360 0 12975 0 24381 0 172758 0 0 0 MICHAEL JACOBS HEAD FOOTBALL COACH 125223 0 0 0 240 0 11887 0 15541 0 152891 0 0 0 WESLEY N REID ASTP OF PA/PROGRAM DIRECTOR 116821 0 0 0 552 0 12403 0 25062 0 154838 0 0 0 SCHEDULE J, PART I, LINE 4B: 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 Refinance existing debt & fund cap false false false A 0 0 52294586 0 0 0 803576 0 0 1918858 32656010 0 2022 true false true true A false false false false 0 true false false false A false true false 0 false false false 0 false false A true Schedule K, Part I, Line A: Issuer Name: Public Finance Authority Name of Issue: Educational Facilities Rev. and Rev. Refunding Bonds (Lenoir-Rhyne University), Series 2022 Purpose: Proceeds from the issuance were used to REFUND PREVIOUS ISSUED BONDS AND TO FINANCE CAPITAL PROJECTS ON CAMPUS. X 25 1715113 FAIR MARKET VALUE X FOOD 7 33650 DONOR'S ESTIMATE X HOTEL 1 17500 DONOR'S ESTIMATE X TREE TOP ADVENTURES 1 2000 DONOR'S ESTIMATE false false false SCHEDULE M, PART I, COLUMN (B): THE NUMBER IN COLUMN B REFLECTS THE NUMBER OF CONTRIBUTORS. SCHEDULE M, PART I, LINE 33: 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. FORM 990, PART I, LINE 1: 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. FORM 990, PART VI, SECTION A, LINE 2: 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. SPECIFICALLY, LENOIR-RHYNE UNIVERSITY HAS A BUSINESS RELATIONSHIP WITH CUSTOM DESIGN GROUP, THE COMPANY OF DEWYONE KING, TRUSTEE. FORM 990, PART VI, SECTION A, LINE 3: 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, SECTION A, LINE 7A: 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, SECTION B, LINE 11B: 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, SECTION B, LINE 12C: 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, SECTION B, LINE 15: 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, SECTION C, LINE 19: 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, COLUMN F: 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: Change in value of perpetual trusts and split-interest agreements $494,018 Gain on Loan forgiveness $506,301 ------------ Total Other changes in net assets $1,000,319 FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE'S PROCESS OF OVERSIGHT AND SELECTION HAS NOT CHANGED SINCE THE PRIOR YEAR.