2026-05-12T13:59:41-07:00 2025-06-30 990 2024-07-01 540505922 UNIVERSITY OF LYNCHBURG UNIV 4345448168 1501 Lakeside Drive Lynchburg VA 24501 Price Jett VP for Finance & Operations & CFO 4345448168 2026-05-12 1 2024 2025-03-06 01:10:19Z Price Jett 1501 Lakeside Drive Lynchburg VA 24501 223783524 0 X www.lynchburg.edu X 1903 VA The University of Lynchburg, established in 1903, is a comprehensive private university in the foothills of Virginia's Blue Ridge Mountains. With over 120 undergraduate majors, minors, and certificate programs, 14 master's programs, and 5 doctoral programs, Lynchburg offers a personalized, life-changing educational experience. It is regularly recognized by U.S. News & World Report and The Princeton Review and stands out as one of 44 "Colleges that Change Lives." The mission of University of Lynchburg is to inspire independent thinkers, who become trustworthy, effective leaders that shape caring communities. 21 21 1680 0 145856 460453 6247057 7272250 92606205 93912165 9541356 9698425 72085 12322 108466703 110895162 31832027 32088604 0 0 49151438 47378165 180140 181140 1709127 31076419 30868508 112240024 110516417 -3773321 378745 258846950 261275871 66054658 64112853 192792292 197163018 The mission of the University is to inspire independent thinkers who become trustworthy, effective leaders that shape caring communities. The vision of the University of Lynchburg is to cultivate a world that is innovative, authentic, and inclusive. The daily goal of the University of Lynchburg is to create an undeniably life-changing experience for students from their first encounter with the University until the moment they become proud Lynchburg alumni. The values of the University of Lynchburg include Academic Rigor, Belonging, Connection, Curiosity, Excellence and Service. 0 0 56449987 32088604 103631601 Includes student instruction and scholarships. For the Fall 2024, there were 1,595 undergraduates, 721 graduates for a total enrollment of 2,316 students. 13671056 0 0 Includes auxiliary enterprises (such as dining services, student housing, campus store, and other snack bar areas). 14901482 0 0 Includes other institutional services (such as information technology, interest expense, and other allocated expenses) that support student instruction. 10608990 0 0 Includes student services and academic support, including but not limited to, enrollment services, registrar, health and counseling services, student activities, sports, recreation, the University's library, art gallery, academic advising, career services, and other support services. 10608990 0 0 95631515 1 1 0 1 0 0 1 1 0 1 1 1 0 0 1 0 1 0 1 0 1 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 3392 0 1 1680 1 1 1 0 0 0 1 1 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 VA X Jett Price 4345448168 1501 Lakeside Drive Lynchburg VA 24501 Alison Morrison-Shetlar President of the University 40 X 418240 0 81590 Jeremy Welsh Vice President of Strategy & Professor of PA Medicine 40 X 251692 0 34434 Jenna Rolfs Dean 40 0 X 179072 0 39481 Aaron Basko Marketing & Communications 40 0 X 160012 0 34051 Allison Jablonski Professor - Biology 40 X 147388 0 39668 Chrstine Cole Director of UDAE 40 0 X 169647 0 11788 Charles Walton Dean Academic Affairs 40 0 X 154128 0 22754 Kristen Cooper VP Student Success 40 0 X 137771 0 24405 Christopher L Burnley VP for Business and Finance and Treasurer 40 X 127749 0 28848 Terry Lanham Interim VP for Finance & Operations 40 0 X 72994 0 7548 Price Jett VP for Finance & Operations/Treasurer 40 0 X 18858 0 7900 Michael Allen Trustee 2 X 0 0 0 Charles W Berry Trustee 2 X 0 0 0 Melanie Biermann Trustee 2 X 0 0 0 Christopher L Boyd Trustee 2 X 0 0 0 Julie P Doyle Trustee/Chair 2 X X 0 0 0 Darlene D Edwards Trustee 2 X 0 0 0 Jamar Hawkins Trustee 2 X 0 0 0 Robert Lemon Jr Trustee 2 X 0 0 0 Nathaniel X Marshall Trustee 2 X 0 0 0 David Rosser Trustee 2 X 0 0 0 Verna R Sellers Trustee 2 X 0 0 0 Gillian Stoettner Trustee 2 X 0 0 0 Andrew J Tatom III Trustee/First Vice Chair 2 X X 0 0 0 Treney L Tweedy Trustee 2 X 0 0 0 James S White Trustee 2 X 0 0 0 Robert Wilson-Black Trustee 2 X 0 0 0 Stephen L Crank Trustee 2 X 0 0 0 1837551 0 332467 52 0 1 0 Commonfund 15 Old Danbury Road Wilton CT 06897 Investment Management 205642 Spider Investments The Richmond Fund 6802 Paragon Place Richmond VA 23230 Investment Management 385652 Paycom Payroll Holdings LLC 7501 W Memorial Road Oklahoma City OK 73142 Payroll Services 146291 Augusta Clark Construction LLC 7661 Wards Rd Rustburg VA 24588 Campus renovations 1291084 Nicholas Wheeler PO Box 122 Gretna VA 24557 Heating & Cooling Technician 177091 6 0 0 21190 93439 1231658 5925963 2669488 7272250 Tuition and fees 611310 74085024 74085024 0 0 Auxiliary Services 900099 15305503 15305503 0 0 Auxiliary - External catering 900099 145856 0 145856 0 Miscellaneous Income 900099 4375782 4375782 0 0 0 0 0 0 93912165 996816 996816 0 0 0 0 0 0 21011 21011 0 0 0 0 0 0 0 0 0 0 0 0 121583071 0 112881462 0 8701609 0 8701609 8701609 0 0 6900 21190 6900 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -8689 -8689 0 0 -8689 110895162 103477056 145856 0 0 0 25859554 25859554 6229050 6229050 0 0 885978 384401 377077 124500 0 0 0 0 36384955 30417772 5220349 746834 2597944 2179848 366373 51723 4932821 4156610 558094 218117 2576467 2153923 369660 52884 0 0 0 0 272514 0 272514 0 62970 0 62970 0 0 0 0 0 181140 181140 1238431 0 1238431 0 0 0 0 0 891507 766174 124151 1182 2116869 1737820 308207 70842 2234801 215162 1893923 125716 0 0 0 0 3250452 3196063 44127 10262 1810616 1682411 91988 36217 0 0 0 0 0 0 0 0 2539551 2295907 243644 0 0 0 0 0 5184042 4901879 282163 0 106066 106066 Food Purchases 2226530 2226530 0 0 Campus Store Purchases 416728 416728 0 0 Auxiliaries/Other 3726623 3726623 0 0 4790808 2978994 1722104 89710 110516417 95631515 13175775 1709127 12294 8750 7394617 14420253 2759597 1597690 5611110 2485343 0 0 0 0 162893 116539 705381 738696 2183114 1142528 188585770 90701654 97249744 97884116 104909344 103623708 37595829 38768721 0 0 0 0 263027 489527 258846950 261275871 5935308 5683809 0 0 5740386 5733180 53870072 52037590 0 0 0 0 267785 476573 0 0 241107 181701 66054658 64112853 X 57824020 57917577 134968272 139245441 192792292 197163018 258846950 261275871 X 378745 3870272 0 0 0 121709 X 1 1 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 0 0 1 3168 3168 0 Schedule C, Part II-B, Line 1 The University is a member of the Council of Independent Colleges in Virginia (CICV) which supports Virginia Private Colleges and Universities by advocating public policy positions and monitoring legislation impacting the higher education community. CICV serves as the voice of Virginia's independent higher education community before state agencies and legislators and coordinates government relations activities for members, advocating for Virginia's Tuition Assistance Grant (VTAG) program and other programs assisting students at Virginia's private colleges. CICV estimates that 10.95% of the FY24-25 dues ($28,932) was used for lobbying. The University's President is a member of the CICV (see above), NAICU(National Association of Colleges and Universities), and VFIC (Virginia Foundation for Independent Colleges). When these organizations hold meetings, there are often local and state legislators in attendance. The President will from time to time engage in discussions with these legislators as a normal course of attending these meetings. X 1 491 0 0 0 1 1 0 0 1 0 0 0 140631750 931856 12298863 4348456 8514936 0 140999077 135834763 2029964 10875344 4096943 4011378 0 140631750 142176447 1903501 3841159 3055351 9030993 0 135834763 146838070 3485270 -2767321 2765073 2614499 0 142176447 109345579 2123242 40072319 2610118 2092952 0 146838070 0.118 0.4121 0.4699 1 0 0 4226813 4226813 0 154684276 74383980 80300296 0 1223875 367163 856712 0 16510518 8589113 7921405 0 11940288 7361398 4578890 97884116 Hedged funds 9338893 F Commodities 39595 F Private equity/venture capital 20438130 F Distressed debt 11380 F Real estate 5930518 F Natural resources 3010205 F 38768721 Interest rate swap 163464 US Government Grant Refundable 18237 181701 81463734 4050598 0 0 -32088604 -28038006 109501740 1238431 154991 1393422 110895162 77093008 0 0 0 -276700 -276700 77369708 1058105 32088604 33146709 110516417 Schedule D, Part II, Line 5 The Virginia Outdoors Foundation has the responsibility to enter the property from time to time (usually on an annual basis) for purposes of inspection and enforcement of the terms of the easement after permission from and reasonable notice has been given to the University. The Foundation has the right to bring an action at law or in equity to enforce the restrictions as outlined in the easement. The right specifically includes the right to require restoration of the property to a condition thereafter changed in a manner consistent with the restrictions. A report is received from the Virginia Outdoors Foundation detailing their visit and any issues that might arise. Schedule D, Part II, Line 9 The Virginia Outdoors Foundation easement was included with a gift of a 470 acre farm received in 1998. In December of 2016, an additional 21 adjacent acres were donated to be added to the easement. Both gifts were substantiated by a real estate appraisal report and recorded as an asset of the University on the Statement of Financial Position and as gift revenue on the Statement of Activities when received. Schedule D, Part III, Line 1 There were no donations received in this year. Schedule D, Part III, Line 4 The Daura Museum of Art is a teaching museum that enhances the University of Lynchburg's academic mission, transforms learning through encounters with works of art, advances creative collaboration with all fields of study, and furthers the appreciation and enjoyment of the visual arts and cultural heritage for all University of Lynchburg constituents. The Daura Museum believes that appreciating the visual arts across time and cultures is one of the most effective ways to become culturally aware global citizens and to build a better world. The Daura Museum enhances the academic mission of the University of Lynchburg across all disciplines by offering opportunities to challenge assumptions, question critically, reason effectively, communicate clearly, act creatively, and live ethically. The Daura Museum models inclusion through stimulating, innovative, compelling programs and exhibitions that enhance the academic curriculum. The Daura Museum is committed to ensuring that diversity, equity, and inclusion are apparent through a climate where all students, faculty, and staff feel welcomed and are treated equitably and with respect. The Daura Museum is a learning lab where innovation occurs at the intersection of disciplines. The Daura Museum fosters the transformative power of art by being a place of reflection, enjoyment, and dialogue. The Daura Museum finds collaborative opportunities on and off campus that make it central to learning and the development of diverse audiences. The Daura Museum of Art presents stimulating, innovative, and inclusive exhibitions and programs that enhance the academic curriculum, emphasize cross-cultural understanding, provide broad academic experiences, and support collaborativeand interdisciplinary opportunities to meet the academic needs of the University and enhance visitors' on-site and on-line experiences, leading to ongoing engagement with the Gallery.Artists and artwork include Pierre Daura, Queena Stovall, Georgia Morgan, Umaña, Connie Fox, Marie Tiner, Howard Finster, Annie Tolliver, Beth Shively, African masks, and much more.The partnership between the University of Lynchburg and Historic Sandusky gives our students the opportunity for real-world museum experience through internships, assistantships, special projects, and field trips. Sandusky's library, document archives, and collections provide a wealth of resources for student research, scholarship, and publication. The partnership provides extensive opportunities for students to get involved in museum operations including: Research, Exhibit planning, Graphic design, Archaeology, Curatorial, Public history, Museum management, and Events. Schedule D, Part V, Line 4 The University's endowment includes 1) funds that offer a comprehensive financial aid program for students demonstrating financial need, academic merit, and special leadership traits, 2) funds that support Distinguished Chairs, Professorships, and special lectureships, 3) funds that offer numerous special programs to benefit students, faculty, staff and the broader community which are diverse in focus and create unique learning opportunities, and 4) funds that offer financial support to the University's annual operating budget. Schedule D, Part XI, Line 2d Includes Financial Aid <$32,088,604>. Schedule D, Part XI, Line 4b Includes change in value of split-interest agreement $121,709, other institutional support $(180,777) and University restructuring $(95,923) Schedule D, Part XII, Line 2d Includes Change in value of split-interest agreements $121,709, Loss on asset write-off $(180,777), and University restructuring $(95,923). Schedule D, Part XII, Line 4b Financial Aid to students of $32,088,604 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 University of Lynchburg has published its notice of non-discriminatory policy of staff and students on the University's website and in its catalog. This statement reads: The University of Lynchburg does not discriminate on the basis of race, color, national origin, sex, pregnancy (including childbirth or related medical conditions including lactation), marital status, veteran status, disability, age (40 and over), sexual orientation, gender (Continued on Schedule E, Part II, Statement 1) Schedule E, Part I, Line 6 University of Lynchburg was the recipient of various grants and contracts from the Federal Government and State of Virginia supporting student financial aid and other University programs in the 2024-25 fiscal year. These awards were received from the U.S. Department of Education, National Science Foundation, U.S. Department of Justice, U.S. Department of Health and Human Services, Institute of Museum and Library Services. 1 South America 0 0 Program Services Recruitment activities 3551 Central America and the Caribbean 0 0 Program Services DPT Service Trip 685 Europe (including Iceland and Greenland) 0 0 Program Services Study Abroad - Central Europe 66215 Europe (including Iceland and Greenland) 0 0 Program Services Study Abroad - Ireland 68365 Europe (including Iceland and Greenland) 0 0 Program Services Study Abroad - Europe 144551 Central America and the Caribbean 0 0 Program Services DMSC Service Trip 10413 Central America and the Caribbean 0 0 Program Services National Science Foundation Grant learning trip 8267 North America (including Canada and Mexico, but not the United States) 0 0 Program Services SWOB Service Trip 78397 Central America and the Caribbean 0 0 Program Services Women's Soccer WOW Project 16688 0 0 397132 Unfunded Institutional Aid Central America and the Caribbean 8 217143 tuition and fees 0 Funded Institutional Aid Central America and the Caribbean 1 500 tuition and fees 0 Unfunded Institutional Aid East Asia and the Pacific 3 97502 tuition and fees 0 Funded Institutional Aid East Asia and the Pacific 1 1000 tuition and fees 0 Unfunded Institutional Aid Europe (including Iceland and Greenland) 26 636355 tuition and fees 0 Unfunded Institutional Aid Middle East and North Africa 2 65752 tuition and fees 0 Unfunded Institutional Aid North America (including Canada and Mexico, but not the United States) 5 122252 tuition and fees 0 Unfunded Institutional Aid Russia and Neighboring States 4 77500 tuition and fees 0 Unfunded Institutional Aid South America 55 1287468 tuition and fees 0 Unfunded Institutional Aid South Asia 156 3224982 tuition and fees 0 Funded Institutional Aid South Asia 10 109659 tuition and fees 0 Unfunded Institutional Aid Sub-Saharan Africa 17 387208 tuition and fees 0 Funded Institutional Aid Sub-Saharan Africa 1 1729 tuition and fees 0 0 0 0 0 0 0 Schedule F, Part I, Line 2 THE UNIVERSITY OF LYNCHBURG DOES NOT PROVIDE GRANTS AND OTHER ASSISTANCE TO ORGANIZATIONS OUTSIDE OF THE UNITED STATES. FINANCIAL AID IS AWARDED TO STUDENTS WHO ATTEND THE UNIVERSITY AND WHOSE CITIZENSHIP IS OUTSIDE OF THE UNITED STATES. THE AID IS BASED UPON NEED AND MERIT AND IS APPLIED TO EACH STUDENT'S BILLED TUITION AND FEES ACCOUNT. THE UNIVERSITY USES THE COLLEGE BOARD'S POWERFAIDS SOFTWARE TO MANAGE ITS FINANCIAL AID DATABASE AND AWARDING PROCEDURES. X X X X 1 EAB Global PO Box 603519 Charlotte NC 28260 See Schedule G, Part IV, Statement 1 0 0 100940 -100940 McAllister Quinn 1625 Eye St NW Washington DC 20006 See Schedule G, Part IV, Statement 1 0 0 79200 -79200 0 180140 -180140 All States John Seamster Golf Tournament 28090 21190 6900 0 0 4120 1009 0 0 0 0 28090 21190 6900 0 0 4120 1009 0 0 5129 1771 1 Non-funded Financial Aid 1528 23225535 0 Funded Financial Aid 173 2634019 Schedule I, Part I, Line 2 Within the limits of available resources, the University makes every effort to make financial aid opportunities available to needy and academically eligible students. Students must be enrolled in full-time undergraduate or graduate degree programs to be considered for University academic scholarships, grants, and/or need-based financial aid. With the exception of some academic scholarships and graduate aid, students who wish to apply for grants, loans, or work-study must submit the Free Application for Federal Student Aid (FAFSA). Awards are considered on the basis of financial need and/or a student's academic profile. Awards are packaged using a combination of grants and scholarships, loans, and software to manage the financial aid databases and awarding procedures. X 1 1 X X X X X 1 0 0 0 0 0 0 0 0 Alison Morrison-Shetlar President of the University 418240 0 0 0 0 0 32550 0 49040 0 499830 0 0 0 Jeremy Welsh Vice President of Strategy & Professor of PA Medicine 251692 0 0 0 0 0 17238 0 17196 0 286126 0 0 0 Allison Jablonski Professor - Biology 147388 0 0 0 0 0 10044 0 29624 0 187056 0 0 0 Christopher L Burnley VP for Business and Finance and Treasurer 127749 0 0 0 0 0 16200 0 12648 0 156597 0 0 0 Jenna Rolfs Dean 179072 0 0 0 0 0 20993 0 18489 0 218554 0 0 0 Kristen Cooper VP Student Success 137771 0 0 0 0 0 14850 0 9555 0 162176 0 0 0 Terry Lanham Interim VP for Finance & Operations 72994 0 0 0 0 0 0 0 7548 0 80542 0 0 0 Price Jett VP for Finance & Operations/Treasurer 18858 0 0 0 0 0 0 0 7900 0 26758 0 0 0 Aaron Basko Marketing & Communications 160012 0 0 0 0 0 4000 0 30051 0 194063 0 0 0 Chrstine Cole Director of UDAE 169647 0 0 0 0 0 2250 0 9538 0 181435 0 0 0 Charles Walton Dean Academic Affairs 154128 0 0 0 0 0 11802 0 10952 0 176882 0 0 0 Schedule J, Part I, Line 1a As outlined in the President's contract with the University of Lynchburg, the President is required to live in a house provided by the University. The house is physically located on the University's campus. Schedule J, Part I, Line 3 The Compensation Committee of the Board of Trustees approves the President's written employment contract on an annual basis. The written employment contract is approved by the full Board of Trustees and documented in the minutes. As deemed necessary by the Compensation Committee, an Independent consultant may be used for input regarding the President's salary level as compared to other positions. Schedule J, Part I, Line 4 The Vice President for Finance & Operations resigned and received a severance payment in fiscal year 2024/2025 A Virginia College Building Authority 541249154 2010-12-21 8837932 Provides funds to refund a prior issue dtd 1/22/04 and other debt obligations 0 0 0 B Economic Development Authority of the City of Lynchburg Virginia 541225193 55123RAR7 2013-06-27 24308295 Refund two prior outstanding issues and Student Center expansion 1 0 0 C Economic Development Authority of the City of Roanoke Virginia 541106038 770080AV1 2018-05-09 37298455 Construction of New Residence Hall and refunding prior debt dated 10/17/18 and 12/20/17 0 0 0 A 6421070 0 8837932 0 0 0 100088 0 0 0 8737844 0 2010 1 0 1 1 B 9857005 0 24308295 0 12581 0 397452 0 0 9986853 13911409 0 2014 1 0 1 1 C 1699766 0 37298455 0 614062 0 472732 0 0 4156938 32054723 0 2019 1 0 1 1 A 0 0 0 0 0 0 0 1 0 1 B 0 0 0 0 0 0 0 1 0 1 C 0 0 0 0 0 0 0 1 0 1 A 0 0 0 0 1 1 Truist Bank 24 0 0 0 0 1 B 0 0 0 0 0 0 0 0 1 C 0 0 0 0 0 0 0 0 1 A 0 B 0 X 20 1080833 Avg hi/low on gift date X 1 900 Opinion of experts X Furniture and Furnishings 3 750 Opinion of experts X Horses for Equestrian Program 10 1575000 Opinion of experts 0 1 0 Form 990, Part VI, Section B, Line 11b The Tax Form 990 is internally prepared by staff in the University's Finance Office and reviewed by the Controller and Vice President for Finance and Operations. The Form 990 is then sent to be reviewed by the following Trustees: Chair of the Board, Chair of the Institutional Excellence Committee, and all members of the Audit Committee. These trustees review the document and notify the Finance Office of their approval within three business days. The completed Tax Form 990 is then emailed to all Trustees. The Finance Office executes and submits the Form 990 to the IRS electronically. Schedule B, Schedule of Contributors, is not included in the information sent to the Trustees to maintain confidentiality for the University's donors Form 990, Part VI, Section B, Line 12c The Board prohibits conflict of interest by its Trustees and University officers in matters under consideration by the Board, in accordance with the "Conflict-of-Interest Policy" for trustees of the Board and University Officers, as published in the Policy Manual. Each Trustee and University Officer is asked to 1) review the Conflict-of-Interest policy annually; 2) disclose any possible personal, familial, or business relationships that could reasonably give rise to conflict involving the University; 3) acknowledge by his or her signature that he or she is in compliance with the letter and spirit of the policy. If a conflict is suspected or confirmed, the matter shall be discussed by the committee chair, the Board Chair, and the trustee in question to determine if any specific vote by the trustee should be recanted and if said trustee should be involved in any future discussion on that topic. Should the matter not be resolved by the committee chair, the Board Chair, and the trustee in question, ultimate enforcement of any conflict will be determined by the Executive Committee as may be appropriate. The completed Conflict-Of-Interest forms are monitored and maintained in the President's Office. Form 990, Part VI, Section B, Line 15 The annual evaluation of the University president is conducted by the Board of Trustees President's Assessment Committee, comprising the Board Chair, both Vice Chairs and a past Board Chair or another Executive Committee member selected by the current Board Chair. The Board Chair may appoint up to two additional trustees to serve a three-year term or through the end of the Board Chair's term of office, whichever comes first. On or before August 31 of each year, the president shall provide the Board Chair a list of proposed goals and objectives for the coming academic year. The President's Assessment Committee meets with the president to review and discuss the proposed goals. By June 1, the president submits a performance self-appraisal for the year in question to the President's Assessment Committee related to the agreed upon goals and objectives. To aid the Board in its annual evaluation, the president will furnish the Board such additional oral or written reports as it may request. The findings of the President's Assessment Committee are reviewed with the full Board in executive session. A course of action is determined regarding the president's performance and future compensation. The compensation for all faculty and staff is set on an annual basis in keeping with the University's current salary plan. Form 990, Part VI, Section C, Line 19 Governing documents, Conflict of Interest policies, and financial statements are made available to the public upon written request for the President of the University or Vice President for Finance and Operations. Form 990, Part XI, Line 9 Change in value of split-interest agreement Historic Sandusky Foundation Inc 757 Sandusky Drive Lynchburg VA 24502 542014523 Preserve and maintain historical property VA 501(c)(3) 9 University of Lynchburg in Virginia 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 Historic Sandusky Foundation Inc c 63744 Salary of Director of Historic Sandusky Schedule R, Part II The University of Lynchburg holds 100% of the assets of Historic Sandusky. All revenues and expenses, assets and liabilities are recorded in the University's audited consolidated financial statements and Form 990.