2025-04-12T11:31:02-05:00 2024-05-31 540504608 BROWN EDWARDS & COMPANY LLP 105 ARBOR DRIVE 3RD FLOOR CHRISTIANSBURG VA 24073 990 2023-06-01 560529953 LEES-MCRAE COLLEGE INC LEES 8288985241 PO BOX 128 BANNER ELK NC 28604 WILLIAM H DURHAM VP OF FINANCE & BUSINESS AFFAIRS 8288985241 2025-04-11 1 0 MARK WOOLWINE P00647446 5404433606 2025-04-11 2023 2025-03-06 01:10:19Z WILLIAM H DURHAM PO BOX 128 BANNER ELK NC 28604 36308685 0 X WWW.LMC.EDU X 1900 NC LEES-MCRAE COLLEGE EDUCATES AND INSPIRES STUDENTS TO APPROACH LIFE AND WORK FROM A CREATIVE, COLLABORATIVE, AND CRITICAL PERSPECTIVE IN PREPARATION FOR DIVERSE CAREERS AND ENVIRONMENTS 22 22 538 10 0 0 8993964 3653226 29407946 30943470 -60244 1482972 149140 229017 38490806 36308685 11433518 11650807 0 0 12595356 14235751 0 0 354708 13267562 11857499 37296436 37744057 1194370 -1435372 99950537 123229175 30782591 50783011 69167946 72446164 THE MISSION OF LEES-MCRAE COLLEGE IS TO HELP STUDENTS BROADEN THEIR HORIZONS, PURSUE CAREERS AND FIND THEIR PLACE IN THE WORLD THROUGH EDUCATION AND SERVICE. 0 0 26553476 11650807 20353534 EDUCATION, GENERAL / OTHER: LEES-MCRAE COLLEGE IS AN ACCREDITED, NON-PROFIT, COEDUCATIONAL, NONSECTARIAN INSTITUTION OF HIGHER EDUCATION WITH ENROLLMENT OF APPROXIMATELY 839 UNDERGRADUATE STUDENTS. 4880929 10620920 EDUCATION, GENERAL / OTHER: AUXILIARY SERVICES INCLUDING FOOD SERVICE AND RESIDENTIAL FACILITIES FOR STUDENTS ATTENDING LEES-MCRAE COLLEGE (654 STUDENTS). 282548 229017 EDUCATION, GENERAL / OTHER: SUMMER PROGRAMS, CAMPS AND THEATRE TO SUPPORT EDUCATIONAL MISSION. 31716953 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1328 0 1 538 1 0 0 0 0 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X X THE ORGANIZATION 8288988809 191 MAIN STREET BANNER ELK NC 28604 GARY T MOSS JR BOARD VICE CHAIR 0.10 X X 0 0 0 PARKER GRUBBS BOARD CHAIR 0.10 X X 0 0 0 BARBARA KOPCZYNSKI BOARD TRUSTEE 0.10 X 0 0 0 BARRY BLAKE BOARD TRUSTEE 0.10 X 0 0 0 BOB MOSS BOARD TRUSTEE 0.10 X 0 0 0 BONNIE HUFF BOARD TRUSTEE 0.10 X 0 0 0 DIANNE MAY BOARD TRUSTEE 0.10 X 0 0 0 FRED RUSSELL BOARD TRUSTEE 0.10 X 0 0 0 HAROLD KAPLAN BOARD TRUSTEE 0.10 X 0 0 0 JIM MCDANIEL BOARD TRUSTEE 0.10 X 0 0 0 JULIA MCCOMBS BOARD TRUSTEE 0.10 X 0 0 0 KEN HAIGLER BOARD TRUSTEE 0.10 X 0 0 0 KIM BRASWELL-MCPHAIL BOARD TRUSTEE 0.10 X 0 0 0 MORGAN HERDKLOTZ BOARD TRUSTEE 0.10 X 0 0 0 MURIEL BETH HOPKINS BOARD TRUSTEE 0.10 X 0 0 0 NANCY HOYT BOARD TRUSTEE 0.10 X 0 0 0 NEIL RAMO BOARD TRUSTEE 0.10 X 0 0 0 RUTH STEPHENSON BOARD TRUSTEE 0.10 X 0 0 0 SONNY EDMONDSON BOARD TRUSTEE 0.10 X 0 0 0 TODD PORTER BOARD TRUSTEE 0.10 X 0 0 0 W MCNAIR TORNOW BOARD TRUSTEE 0.10 X 0 0 0 LENOARD WHEELER BOARD TRUSTEE 0.10 X 0 0 0 HERBERT KING JR PRESIDENT 50.00 X 266407 0 31671 BLAINE HANSEN EVP OF STRATEGIC OPERATION, GOVERNANCE, & PLANNING 50.00 X 166495 0 18809 PAMELA VESELY VP OF ACADEMIC AFFAIRS AND DEAN OF FACULTY 50.00 X 99925 0 12756 WILLIAM DURHAM VP OF BUSINESS AFFAIRS 50.00 X 38745 0 3347 KEVIN PHILLIPS SVP OF ENROLLMENT MANAGEMENT 50.00 X 194596 0 10318 SUSAN BOYETTE VP OF ADVANCEMENT 50.00 X 173207 0 13281 JASON JONES VP OF STUDENT AFFAIRS 50.00 X 122020 0 17879 ALYSON GILL FORMER PROVOST AND DEAN OF FACULT 50.00 X 175246 0 17558 1236641 0 125619 6 1 1 0 FRANK L BLUM CONSTRUCTION 830 E 25TH STREET WINSTONSALEM NC 27105 CONSTRUCTION AND SERVICE COMPANY 9622644 CHILDREN'S HOPE ALLIANCE PO BOX 1 BARIUM SPRINGS NC 28010 CHILD ADVOCACY AND WELFARE ORGANIZATION 6000000 GENUINE FOOD LAB LLC 228 PARK AVE S - 69981 NEW YORK NY 10003 FOOD SERVICE 2639075 ARAMARK DALLAS LOCKBOX PO BOX 116 BANNER ELK NC 28604 FOOD SERVICE 1245000 BARNES & NOBLE COLLEGE BO PO BOX 713660 PHILADELPHIA PA 19171 BOOK STORE 562772 12 160810 3492416 4803 3653226 TUITION AND FEES 611310 20322550 20322550 ROOM & BOARD 611310 8181093 8181093 OTHER INCOME 611310 2439827 2439827 30943470 789525 789525 662463 30984 0 0 662463 30984 693447 30984 662463 COMMUNITY OUTREACH 611710 229017 229017 229017 36308685 31203471 0 1451988 11650807 11650807 708072 522609 185463 10869311 9915478 716494 237339 1823040 1051723 734039 37278 835328 764041 55757 15530 123866 123866 3000972 2641878 359094 763292 597157 132727 33408 1234257 1120951 96309 16997 542155 508211 21704 12240 845564 649392 196172 1924313 1447084 477229 OTHER 2711236 430366 2280870 REPAIRS & MAINTENANCE 381522 92170 288007 1345 FOOD SERVICES 246614 246614 WORK STUDY PROGRAMS 66474 61238 4665 571 17234 17234 37744057 31716953 5672396 354708 3680240 3477518 718053 921420 5124474 2717487 3993733 2392240 63461 63461 13221 12130 2406 13266 111323839 35653533 53773103 75670306 30038365 35156876 2543481 2804471 99950537 123229175 7586861 7222853 532759 725739 22467332 42621266 195639 213153 30782591 50783011 X 33375361 33158862 35792585 39287302 69167946 72446164 99950537 123229175 X -1435372 4409738 303852 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 34836868 383125 5984508 1457337 39747164 36350969 440067 -347233 1154730 452205 34836868 36178089 3841128 -2584103 973939 110206 36350969 33999870 746542 7586756 1172586 4898971 83522 36178089 30708384 2583177 1837194 1062936 65949 33999870 0.09356 0.65100 0.25543 1 0 8180338 8180338 54496152 23513650 30982502 10242691 7977298 2265393 38404658 4162585 34242073 75670306 TRUST & ANNUITY OBLIGATIONS 123622 AMOUNTS HELD ON BEHALF OF OTHERS 60388 STUDENT AND OTHER DEPOSITS 29143 213153 X 29247602 4409738 303852 4713590 24534012 123866 11650807 11774673 36308685 25969384 0 25969384 123866 11650807 11774673 37744057 PART X, LINE 2: THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF FUNDS HELD IN TRUST 260,990. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 42,862. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 11,650,807. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 11,650,807. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE RACIALLY NONDISCRIMINATORY POLICY IS PUBLISHED ON THE COLLEGE WEBSITE AND AVAILABLE TO THE GENERAL PUBLIC. SCHEDULE E, PART I, LINE 6 LEES-MCRAE COLLEGE RECEIVES FEDERAL AND NC GOVERNMENTAL SUPPORT FOR STUDENT FINANCIAL AID. THE COLLEGE COMPLIES WITH ALL GOVERNMENTAL REGULATIONS APPLICABLE TO THIS SUPPORT. LEES-MCRAE COLLEGE'S RIGHT TO SUCH AID HAS NEVER BEEN REVOKED OR SUSPENDED. 1 SCHOLARSHIPS ARE PROVIDED TO HELP STUDENTS COVER TUITION, ROOM AND BOARD AT LMC. 880 11650807 PART I, LINE 2: THE PROCESS FOR MONITORING TUITION DISCOUNT OR GRANT/SCHOLARSHIP FUNDS AT LEES-MCRAE IS DONE BY UTILIZING A MATRIX THAT DETERMINES AND LIMITS THE AMOUNT OF ACADEMIC SCHOLARSHIP AWARDED. THE SENIOR VICE PRESIDENT OF ENROLLMENT MANAGEMENT AND THE DIRECTOR OF FINANCIAL AID MEET REGULARLY TO REVIEW THE MOST CURRENT AMOUNT OF AWARDS BEING AWARDED TO ENSURE THE COLLEGE STAYS WITHIN BUDGE AND AWARD GUIDELINES. A FINAL REVIEW IS DONE BY THE SENIOR VICE PRESIDENT OF ENROLLMENT MANAGEMENT AND THE DIRECTOR OF FINANCIAL AID PRIOR TO AWARD LETTERS BEING MAILED. X 0 0 0 0 0 0 0 0 0 HERBERT KING JR PRESIDENT 266407 0 0 0 0 0 13730 0 17941 0 298078 0 0 0 KEVIN PHILLIPS SVP OF ENROLLMENT MANAGEMENT 194596 0 0 0 0 0 0 0 10318 0 204914 0 0 0 ALYSON GILL FORMER PROVOST AND DEAN OF FACULT 175246 0 0 0 0 0 8051 0 9507 0 192804 0 0 0 SUSAN BOYETTE VP OF ADVANCEMENT 173207 0 0 0 0 0 5250 0 8031 0 186488 0 0 0 BLAINE HANSEN EVP OF STRATEGIC OPERATION, GOVERNAN 166495 0 0 0 0 0 8544 0 10265 0 185304 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS SHARED WITH THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES ARE REMINDED OF THE POLICY AT ALL MEETINGS. THE COLLEGE CONTROLLER MONITORS ALL ACCOUNTS PAYABLE CHECKS AND PAYMENTS TO RELATED PARTIES. FORM 990, PART VI, SECTION B, LINE 15 CEO, EXECUTIVE DIRECTOR, OR TOP MANAGEMENT OFFICIAL: TRUSTEES REVIEW COMPENSATION INFORMATION FROM SIMILAR COLLEGES EACH TIME A PRESIDENT IS HIRED TO ESTABLISH FAIR COMPENSATION. OTHER OFFICERS OR KEY EMPLOYEES OF THE ORGANIZATION: PRESIDENT & CFO REVIEW COMPARABLE COMPENSATION AT EACH HIRING. FORM 990, PART VI, SECTION C, LINE 18 PUBLIC WEBSITE, ON LOCATION IN BUSINESS AFFAIRS OFFICE, NC SECRETARY OF STATE OFFICE FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE IN THE PRESIDENT'S OFFICE. CONFLICT OF INTEREST POLICY IS ONLINE IN THE EMPLOYEE AND FACULTY HANDBOOKS. FINANCIAL STATEMENTS ARE NOT AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF PERPETUAL TRUSTS 260,990. CHANGE IN OTHER SPLIT-INTEREST AGREEMENTS 42,862. PART XII, LINE 2C THERE HAVE BEEN NO CHANGES IN THE PROCESSES FROM PRIOR YEAR.