Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1a · Federated campaigns

  $9,000

• 1c · Fundraising events

  $45,730

• 1e · Government grants (contributions)

  $2,884,445

• 1f · All other contributions, gifts and grants

  $4,983,604

• 1g · Noncash contributions included above

  $263,247

• 2a · Program service revenue: STUDENT TUITION AND FEES

  total $85,783,343 · related or exempt $85,783,343

• 2b · Program service revenue: AUXILIARY ENTERPRISES

  total $15,499,141 · related or exempt $15,499,141

• 3 · Investment income

  total $1,356,365 · unrelated business $7,231 · excluded $1,349,134

• 6a · Gross rents

  real property $122,513

• 6b · Less rental expenses

  real property $68,269

• 6c · Rental income or loss

  real property $54,244

• 6d · Net rental income or loss

  total $54,244 · excluded $54,244

• 7a · Gross sales of assets other than inventory

  securities $78,979,800

• 7b · Less cost or other basis and sales expenses

  securities $78,883,799

• 7c · Gain or loss

  securities $96,001

• 7d · Net gain or loss

  total $96,001 · excluded $96,001

• 8a · Fundraising events: gross income

  $40,941

• 8a · Fundraising events: contributions included on line 1c

  $45,730

• 8b · Fundraising events: direct expenses

  $37,843

• 8c · Net income from fundraising events

  total $3,098 · excluded $3,098

• 11a · Other revenue: ATHLETIC CAMPS & TOURNAMENTS

  total $225,893 · related or exempt $225,893

• 11b · Other revenue: BARNES & NOBLE

  total $86,106 · excluded $86,106

• 11c · Other revenue: CONFERENCE SERVICES

  total $65,370 · unrelated business $65,370

• 11d · All other revenue

  total $405,506 · unrelated business $53,850 · excluded $351,656

• 11e · Other revenue, total

  $782,875

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $119,263 · program services $119,263

• 2 · Grants to domestic individuals

  total $50,717,955 · program services $50,717,955

• 5 · Compensation of officers, directors and key employees

  total $1,845,692 · program services $1,151,026 · management and general $468,315 · fundraising $226,351

• 7 · Other salaries and wages

  total $26,090,836 · program services $22,586,977 · management and general $3,007,869 · fundraising $495,990

• 8 · Pension plan contributions

  total $1,860,879 · program services $1,593,737 · management and general $214,382 · fundraising $52,760

• 9 · Other employee benefits

  total $5,018,473 · program services $4,246,460 · management and general $635,566 · fundraising $136,447

• 10 · Payroll taxes

  total $1,894,221 · program services $1,599,490 · management and general $245,307 · fundraising $49,424

• 11b · Fees: legal

  total $150,563 · program services $75,282 · management and general $75,281

• 11c · Fees: accounting

  total $105,692 · program services $105,692

• 11d · Fees: lobbying

  total $33,300 · management and general $33,300

• 11f · Fees: investment management

  total $243,752 · management and general $243,752

• 11g · Fees: other

  total $5,676,719 · program services $4,990,409 · management and general $594,063 · fundraising $92,247

• 12 · Advertising and promotion

  total $1,362,010 · management and general $1,266,669 · fundraising $95,341

• 13 · Office expenses

  total $2,912,577 · program services $2,617,288 · management and general $233,089 · fundraising $62,200

• 14 · Information technology

  total $163,231 · program services $155,757 · management and general $7,474

• 16 · Occupancy

  total $1,904,794 · program services $1,733,363 · management and general $154,288 · fundraising $17,143

• 17 · Travel

  total $986,906 · program services $858,609 · management and general $69,083 · fundraising $59,214

• 20 · Interest

  total $699,394 · program services $636,448 · management and general $56,651 · fundraising $6,295

• 22 · Depreciation, depletion and amortization

  total $6,799,380 · program services $6,187,436 · management and general $550,750 · fundraising $61,194

• 23 · Insurance

  total $920,992 · program services $838,103 · management and general $74,600 · fundraising $8,289

• 24a · Other expenses: REPAIRS & MAINTENANCE

  total $1,987,361 · program services $1,366,940 · management and general $605,770 · fundraising $14,651

• 24b · Other expenses: LIBRARY MATERIALS

  total $693,917 · program services $693,917 · management and general $0 · fundraising $0

• 24c · Other expenses: STUDENT CLUBS & ORGS.

  total $220,717 · program services $220,717 · management and general $0 · fundraising $0

• 24d · Other expenses: BUILDING MAINTENANCE

  total $149,183 · program services $149,183 · management and general $0 · fundraising $0

• 24e · All other expenses

  total $485,588 · program services $314,619 · management and general $165,529 · fundraising $5,440

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,000 · end of year $4,000

• 2 · Savings and temporary cash investments

  beginning of year $23,855,968 · end of year $19,196,688

• 3 · Pledges and grants receivable

  beginning of year $12,149,903 · end of year $11,315,673

• 4 · Accounts receivable

  beginning of year $7,102,066 · end of year $6,729,152

• 8 · Inventories for sale or use

  beginning of year $20,386 · end of year $22,821

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,477,799 · end of year $1,276,007

• 10a · Land, buildings and equipment: cost or other basis

  $246,138,646

• 10b · Land, buildings and equipment: accumulated depreciation

  $128,642,715

• 10c · Land, buildings and equipment, net

  beginning of year $100,953,330 · end of year $117,495,931

• 11 · Investments: publicly traded securities

  beginning of year $72,697,388 · end of year $17,566,155

• 12 · Investments: other securities

  beginning of year $11,497,259 · end of year $71,172,774

• 13 · Investments: program-related

  beginning of year $958,781 · end of year $727,535

• 15 · Other assets

  beginning of year $6,176,881 · end of year $9,208,022

• 17 · Accounts payable and accrued expenses

  beginning of year $8,575,223 · end of year $10,590,165

• 19 · Deferred revenue

  beginning of year $68,797 · end of year $146,366

• 20 · Tax-exempt bond liabilities

  beginning of year $39,859,408 · end of year $47,822,875

• 23 · Secured mortgages and notes payable

  beginning of year $38,005 · end of year $376,376

• 25 · Other liabilities

  beginning of year $2,980,222 · end of year $2,557,390

• 27 · Net assets without donor restrictions

  beginning of year $104,514,730 · end of year $108,287,812

• 28 · Net assets with donor restrictions

  beginning of year $80,857,376 · end of year $84,933,774

The filer's explanations (Part III)

PART I, LINE 1A

FROM THE EMPLOYMENT AGREEMENT BETWEEN LEBANON VALLEY COLLEGE AND THE PRESIDENT - "THE COLLEGE SHALL PAY OR REIMBURSE THE EXECUTIVE FOR ALL REASONABLE BUSINESS EXPENSES INCURRED BY THE EXECUTIVE (AND HIS SPOUSE WHERE THERE IS A LEGITIMATE BUSINESS REASON FOR HIS SPOUSE TO ACCOMPANY HIM) IN CONNECTION WITH THE PERFORMANCE OF HIS DUTIES AND OBLIGATIONS UNDER THIS AGREEMENT. SUCH PAYMENTS SHALL INCLUDE REASONABLE REIMBURSEMENTS FOR TICKETS, SUBSCRIPTIONS, ETC. FOR THE EXECUTIVE AND HIS SPOUSE TO WORK-RELATED FUND RAISING EVENTS IN THE COMMUNITY. THESE EXPENDITURES SHALL BE SUBJECT TO THE REVIEW AND APPROVAL OF THE CHAIR OF THE BOARD." THERE WERE NO SUCH BUSINESS EXPENSE REIMBURSEMENTS OR EXPENDITURES DURING THE YEAR. IN ADDITION, THE PRESIDENT LIVES IN A COLLEGE OWNED HOUSE, WHICH IS ON CAMPUS. THE HOUSING IS NOT CONSIDERED A TAXABLE BENEFIT TO THE PRESIDENT.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• VALE LLC

  MUSIC PRODUCTION · PA · income $0 · assets $615

  Directly controlled by LEBANON VALLEY COLLEGE

• LEBANON VALLEY COLLEGE PHYSICAL THERAPY & SPORTS REHAB CLINIC

  PHYSICAL THERAPY AND SPORTS REHABILIATION · PA · income $0 · assets $6,450

  Directly controlled by LEBANON VALLEY COLLEGE