2024-04-11T14:42:07-05:00 2023-05-31 363168081 SIKICH LLP 3051 HOLLIS DRIVE 3RD FLOOR SPRINGFIELD IL 62704 990 2022-06-01 370661211 ILLINOIS COLLEGE ILLI 2172453003 1101 WEST COLLEGE AVENUE JACKSONVILLE IL 626502299 KENT SILTMAN VP OF BUSINESS AFFAIRS & CFO 2172453003 2024-04-09 1 KENT SILTMAN 999009999 0 JILL M BOYLE CPA P01246734 2177933363 2024-04-01 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KENT SILTMAN 1101 WEST COLLEGE AVENUE JACKSONVILLE IL 626502299 143785879 0 X WWW.IC.EDU X 1835 IL ILLINOIS COLLEGE IS A CO-EDUCATIONAL INSTITUTION OF HIGHER LEARNING IN THE LIBERAL ARTS. 29 29 866 39 15574 0 8522610 5903038 42932656 41031007 12159179 2989878 1262455 1393618 64876900 51317541 21688847 20656568 0 0 19574142 20244201 0 94600 1767053 19817919 19026547 61080908 60021916 3795992 -8704375 209663245 219606348 26343125 45453161 183320120 174153187 ILLINOIS COLLEGE IS A CO-EDUCATIONAL INSTITUTION OF HIGHER EDUCATION LEARNING PROVIDING A FOUR-YEAR EDUCATIONAL PROGRAM LEADING TO THE BACCALAUREATE DEGREE. ILLINOIS COLLEGE IS A COMMUNITY COMMITTED TO THE HIGHEST STANDARDS OF SCHOLARSHIP AND INTEGRITY IN THE LIBERAL ARTS. 0 0 54319530 20656568 41568360 PROVISION OF POST-SECONDARY EDUCATION TO APPROXIMATELY 1,040 STUDENTS. 54319530 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 177 0 866 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 29 29 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X KENT SILTMAN 2172453004 1101 WEST COLLEGE AVENUE JACKSONVILLE IL 626502299 STEVEN R MILLS BOARD MEMBER & CHAIR 2.00 X X 0 0 0 SUSAN L PRATT BOARD MEMBER & VICE CHAIR 2.00 X X 0 0 0 JOAN M DEBOER BOARD MEMBER & SECRETARY 2.00 X X 0 0 0 SUSAN J ALLEN BOARD MEMBER 1.00 X 0 0 0 TONYA J BAISE BOARD MEMBER 1.00 X 0 0 0 RYAN T BARKE BOARD MEMBER 1.00 X 0 0 0 MICHAEL D BAUERSACHS BOARD MEMBER 1.00 X 0 0 0 GERRY L BEARD BOARD MEMBER 1.00 X 0 0 0 TONI L BLANKMANN BOARD MEMBER 1.00 X 0 0 0 SCOTT BOSTON BOARD MEMBER 1.00 X 0 0 0 JOSEPH T CALMESE BOARD MEMBER 1.00 X 0 0 0 ROBERT E CHIPMAN BOARD MEMBER 2.00 X 0 0 0 DEL C DUNHAM BOARD MEMBER 1.00 X 0 0 0 MICHAEL A FLETCHER BOARD MEMBER 1.00 X 0 0 0 LUIZ E GUIMARAES BOARD MEMBER 1.00 X 0 0 0 JOEL C HARMON BOARD MEMBER 1.00 X 0 0 0 GARY R HAYNES BOARD MEMBER 1.00 X 0 0 0 JOHN S KAY BOARD MEMBER 1.00 X 0 0 0 JULIE B MACARTNEY BOARD MEMBER 1.00 X 0 0 0 PATRICK B MATHIS BOARD MEMBER 2.00 X 0 0 0 GREG C MAY BOARD MEMBER 1.00 X 0 0 0 JOANNA MARKER BOARD MEMBER 1.00 X 0 0 0 STEPHEN D OETGEN BOARD MEMBER 1.00 X 0 0 0 ELLEN F RAMMELKAMP MILLER BOARD MEMBER 1.00 X 0 0 0 WINSTON ROGERS III BOARD MEMBER 1.00 X 0 0 0 HENRY A SCHMITT BOARD MEMBER 1.00 X 0 0 0 JAMES W SPRADLIN BOARD MEMBER 2.00 X 0 0 0 JEAN C STATLER BOARD MEMBER 2.00 X 0 0 0 GEORGE A ZELCS BOARD MEMBER 1.00 X 0 0 0 BARBARA FARLEY PRESIDENT 50.00 X 514094 0 43503 CATHARINE O'CONNELL PROVOST/DEAN OF COLLEGE 50.00 X 198577 0 39354 STEPHANIE CHIPMAN VP OF EXTERNAL RELATIONS 50.00 X 173902 0 23873 KENT SILTMAN VP OF BUSINESS/CFO 50.00 X 147939 0 23208 MELISSA DYSON ASSOCIATE VP OF FINANCE & CONTROLLER 50.00 X 111527 0 22200 LAUREN HAYS DIRECTOR OF HUMAN RESOURCES 50.00 X 105348 0 17523 EVAN WILSON ASSOCIATE VP OF ENROLLMENT MGMT 50.00 X 101898 0 20401 1353285 0 190062 7 0 1 0 O'SHEA HAROLD 401 CONSTITUTION DRIVE SPRINGFIELD IL 62711 CONSTRUCTION 9321122 CHARTWELLS 91337 COLLECTIONS DRIVE CHICAGO IL 606931337 FOOD SERVICE 2330605 HYMES ROCK A 108 EDLEN LANE JACKSONVILLE IL 62650 CONSTRUCTION 1378227 A BOOK COMPANY LLC 28312 NETWORK PLACE CHICAGO IL 606731283 TEXTBOOK SERVICE 739055 PEARL TECHNOLOGY LLC 1200 E GLEN AVENUE PEORIA HEIGHTS IL 61616 CLASSROOM TECHNOLOGY EQUIPMENT AND INSTA 601501 25 1832908 4070130 999885 5903038 TUITION AND FEES 900099 33384721 33384721 AUXILIARY REVENUE 900099 7646286 7630712 15574 41031007 3942149 3942149 91506436 92458707 -952271 -952271 -952271 20152 9631 10521 10521 OTHER INVESTMENT INCOME 900099 830170 830170 552927 552927 1383097 51317541 41568360 15574 3830569 20656568 20656568 1246226 333090 622332 290804 14648992 12801754 1183639 663599 632711 552926 51123 28662 2612750 2283282 211110 118358 1103522 964368 89165 49989 24656 24656 82175 82175 94600 94600 411954 411954 1688566 1475638 136436 76492 186128 162657 15039 8432 1506212 1316279 121702 68231 546346 477453 44144 24749 3413437 3116047 275806 21584 1219620 1065826 98545 55249 461644 403431 58213 3699976 3233409 298958 167609 531484 464464 42944 24076 MEAL PLAN 2134612 2134612 SMALL EQUIPMENT 1138629 995048 92001 51580 TEXTBOOKS 729182 729182 MEALS & ENTERTAINMENT 428065 374086 37728 16251 823861 779410 37663 6788 60021916 54319530 3935333 1767053 9448899 16413121 369039 344553 618815 1241556 839248 599386 75800 100426 464879 548194 146010481 86913623 51775641 59096858 111658713 104132669 5090932 4792538 29321279 32337047 209663245 219606348 7788996 7902343 1612072 1453325 9161248 27825151 5910856 6810856 1869953 1461486 26343125 45453161 X 67922947 63134272 115397173 111018915 183320120 174153187 209663245 219606348 X -8704375 -484004 21446 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 146550216 2686392 2919035 12741355 139414288 155486965 957322 -569307 9324764 146550216 126104821 796041 35405191 6819088 155486965 129905437 684192 3977128 8461936 126104821 137753933 861043 1052214 9761753 129905437 0.23560 0.43750 0.32690 0 0 465933 465933 101961542 57900238 44061304 8701690 6677624 2024066 24040878 22335761 1705117 10840438 10840438 59096858 ACCRUED INTEREST RECEIVABLE 62755 BENEFICIAL INTEREST NONPERPETUAL TRUST 405390 REAL ESTATE 30719556 OTHER ASSETS 292374 FINANCE LEASE RIGHT OF USE 660246 OPERATING LEASE RIGHT OF USE 196726 32337047 ADVANCE FROM US GOVT PERKINS LOAN PROGRAM 609455 FINANCE LEASE 655305 OPERATING LEASE 196726 1461486 X 29796092 -484004 -484004 30280096 411954 20625491 21037445 51317541 38963025 0 38963025 411954 20646937 21058891 60021916 PART V, LINE 4: THE COLLEGE HAS THE FOLLOWING DONOR RESTRICTED ENDOWMENT FUNDS: GENERAL INSTITUTIONAL SUPPORT, SCHOLARSHIP SUPPORT, EDUCATIONAL PROGRAM SUPPORT, ACADEMIC AWARD SUPPORT, BUILDING AND MAINTENANCE SUPPORT AND LOAN FUND SUPPORT. PART X, LINE 2: THE COLLEGE HAS A TAX DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE (IRS) STATING IT QUALIFIES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES. THE COLLEGE IS NOT CLASSIFIED AS A PRIVATE FOUNDATION. AS SUCH, THE COLLEGE IS SUBJECT TO FEDERAL INCOME TAXES ONLY ON ANY NET UNRELATED BUSINESS INCOME UNDER THE PROVISIONS OF SECTION 511 OF THE INTERNAL REVENUE CODE. THE COLLEGE EVALUATES ITS UNCERTAIN TAX POSITIONS ON AN ANNUAL BASIS, AND THERE HAVE BEEN NO RECORDED UNCERTAIN TAX POSITIONS RECORDED IN 2023, 2022, OR 2021. THEREFORE, NO PROVISION OR LIABILITY FOR INCOME TAXES HAS BEEN INCLUDED IN THE FINANCIAL STATEMENTS. THE COLLEGE FILES VARIOUS FEDERAL OR STATE NON-PROFIT TAX RETURNS. THE COLLEGE IS NO LONGER SUBJECT TO U.S. FEDERAL OR STATE EXAMINATIONS BY TAX AUTHORITIES FOR TAX YEARS PRIOR TO 2020 OR 2019, RESPECTIVELY. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 20,656,568. CHANGE IN VALUE SPLIT INTEREST AGREEMENTS -21,446. FUNDRAISING EXPENSES -9,631. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 20,656,568. FUNDRAISING EXPENSES -9,631. 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 NONDISCRIMINATION POLICY IS INCLUDED IN ALL STUDENT RECRUITMENT APPLICATION MATERIALS. THIS POLICY IS ALSO INCLUDED IN THE EMPLOYEE & STUDENT HANDBOOKS AND WEBSITE. SCHEDULE E, PART I, LINE 6 ILLINOIS COLLEGE RECEIVES FEDERAL AND STATE AID THAT IS PASSED THROUGH TO STUDENTS. THE COLLEGE PARTICIPATES IN THE TITLE IV FEDERAL STUDENT AID PROGRAM. THESE PROGRAMS INCLUDE PELL GRANT AND FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITIES GRANT. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 12765464 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 11 PROGRAM SERVICES STUDENT BREAKAWAY, RECRUITING, RESEARCH 35967 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 9 PROGRAM SERVICES STUDENT BREAKAWAY, RECRUITING, RESEARCH 24882 EAST ASIA AND THE PACIFIC 0 8 PROGRAM SERVICES STUDENT BREAKAWAY, RESEARCH 50080 SUB-SAHARAN AFRICA 0 1 PROGRAM SERVICES STUDENT BREAKAWAY, RECRUITING, RESEARCH 2694 MIDDLE EAST AND NORTH AFRICA 0 2 PROGRAM SERVICES STUDENT BREAKAWAY 6443 0 31 0 0 0 31 12885530 0 12885530 0 0 1 1 0 0 PART III ACCOUNTING METHOD: X X X X X X X 1 MCALLISTER & QUINN LLC 1368 N WASHINGTON AVENUE SCRANTON PA 18509 GRANT CONSULTING SERVICES 0 0 94600 0 94600 IL GOLF OUTING 20152 20152 4788 3721 1122 20152 20152 4788 3721 1122 9631 10521 1 STUDENT SCHOLARSHIPS 959 20656568 BOOK PART I, LINE 2: SCHOLARSHIPS AWARDED TO STUDENTS ARE AUTOMATICALLY CREDITED TO THEIR ACCOUNT WITH THE COLLEGE TO OFFSET TUITION AND OTHER SIMILAR COSTS. NO CASH IS AWARDED DIRECTLY TO THE STUDENTS. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 BARBARA FARLEY PRESIDENT 345778 0 0 0 168316 0 35000 0 8503 0 557597 0 0 0 CATHARINE O'CONNELL PROVOST/DEAN OF COLLEGE 181837 0 0 0 16740 0 19338 0 20016 0 237931 0 0 0 STEPHANIE CHIPMAN VP OF EXTERNAL RELATIONS 167079 0 0 0 6823 0 11970 0 11903 0 197775 0 0 0 KENT SILTMAN VP OF BUSINESS/CFO 146319 0 0 0 1620 0 10570 0 12638 0 171147 0 0 0 PART I, LINE 1A THE COLLEGE'S PRESIDENT IS REQUIRED TO LIVE ON CAMPUS AND A RESIDENCE IS PROVIDED. THE PRESIDENT HAS A SOCIAL CLUB MEMBERSHIP AT JACKSONVILLE COUNTRY CLUB FOR BUSINESS PURPOSES. PART 1, QUESTION 4B THE COLLEGE HAS A 457(B) DEFERRED COMPENSATION PLAN THAT IS A NONQUALIFIED RETIREMENT PLAN FOR THE OFFICERS OF THE COLLEGE. A ILLINOIS FINANCING AUTHORITY 861091967 452000KS6 2005-01-13 15000000 CONSTRUCTION OF NEW RESIDENCE HALL 0 0 0 B PNC BANK 861091967 2010-12-23 3900000 ENERGY PROJECT 0 0 0 C ILLINOIS FINANCING AUTHORITY 861091967 2022-08-31 20000000 BUILDING RENOVATION 0 0 0 A 750000 15000000 228875 14771125 2006 0 0 1 1 B 301908 3900000 161522 71343 3828657 2011 0 0 1 1 C 20000000 237640 219005 8736057 11282578 0 0 0 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 A 0 0 0 0 1 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 A 0 B 0 C 0 X 14 719653 FMV X 1 275000 FMV X OTHER NONCASH 7 5232 COST 1 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 TRUSTEE-ROBERT E. CHIPMAN IS THE FATHER-IN-LAW TO OFFICER-VP EXTERNAL RELATIONS, STEPHANIE CHIPMAN FOR A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF TRUSTEES HAVE DIRECTED THE AUDIT WORKING GROUP OF THE FINANCE AND AUDIT COMMITTEE TO REVIEW THE ANNUAL 990. THE AUDIT WORKING GROUP HAS THE ACCOUNTING EXPERTISE TO UNDERSTAND AND EVALUATE THE 990. AFTER THE AUDIT WORKING GROUP REVIEWS AND APPROVES THE 990, THE BOARD OF TRUSTEES ARE PROVIDED AN ELECTRONIC FORM AND A PAPER COPY UPON REQUEST FOR REVIEW. AFTER THE FORMS ARE MADE AVAILABLE TO THE BOARD OF TRUSTEES, THE FORM 990 IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY MEMBERS OF THE BOARD OF TRUSTEES COMPLETE A DISCLOSURE FORM. THE PRESIDENT'S OFFICE COLLECTS THE FORMS. THESE FORMS ARE PROVIDED TO THE BOARD CHAIRPERSON AND REVIEWED FOR ANY CONFLICTS OF INTEREST. THE COLLEGE HAS A HANDBOOK THAT INCLUDES THE CONFLICT OF INTEREST POLICY. THIS IS PROVIDED TO ALL FACULTY, STAFF, BOARD OF TRUSTEES AND STUDENTS. MANAGEMENT MONITORS AND ENFORCES THIS POLICY BY OBSERVATION. FORM 990, PART VI, SECTION B, LINE 15 THE COLLEGE USES SEVERAL FACTORS TO DETERMINE COMPENSATION FOR OFFICERS AND KEY EMLOYEES. THE COLLEGE USES AN INDEPENDENT SEARCH FIRM FOR THE SELECTION OF PRESIDENT OF THE COLLEGE, ALONG WITH A SEARCH COMMITTEE SELECTED BY THE BOARD OF TRUSTEES. THE OFFICERS OF THE COLLEGE CONSIST OF THE PRESIDENT AND VICE PRESIDENT CABINET MEMBERS. THE TRUSTEES OF THE COLLEGE DETERMINE THE PRESIDENT'S SALARY. THE PRESIDENT OF THE COLLEGE DETERMINES THE SALARY OF ALL VICE PRESIDENTS. THE COLLEGE USES SALARY SURVEYS, COMPARABLE DATA FROM OUR PEER INSTITUTIONS, AND YEARS OF EXPERIENCE WHEN DETERMINING COMPENSATION RANGES. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES ITS FORM 1023 AND 990 AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE SPLIT INTEREST TRUSTS 21,446.