2025-05-15T15:59:10+00:00 2024-06-30 440160260 Forvis Mazars LLP 111 E Wayne Street Suite 600 Fort Wayne IN 46802 990 2023-07-01 381367080 Aquinas College AQUI 6166328900 1700 FULTON STREET EAST GRAND RAPIDS MI 495061801 TIMOTHY J STAFFORD VP FOR FINANCE 6166328900 2025-05-15 true true Lauren Denton P01571860 2604604000 2025-05-15 2023 2025-03-06 01:10:19Z TIMOTHY J STAFFORD 1700 FULTON STREET EAST GRAND RAPIDS MI 495061801 69833486 false X WWW.AQUINAS.EDU X 1892 MI AQUINAS COLLEGE STRIVES TO BE AMONG THE PREMIER CATHOLIC COLLEGES IN THE MIDWEST RECOGNIZED FOR ITS EXCELLENCE IN PREPARING THE WHOLE PERSON TO LEAD A LIFE OF PURPOSE AND SUCCESS. 15 14 950 15 169008 129450 3837238 4044225 47633548 49575485 550098 3228448 328604 367956 52349488 57216114 24512471 26086896 0 0 19609450 18073308 17995 18728 574983 18224736 17326629 62364652 61505561 -10015164 -4289447 128075406 126439005 41044838 40040769 87030568 86398236 AQUINAS COLLEGE, AN INCLUSIVE EDUCATIONAL COMMUNITY ROOTED IN THE CATHOLIC DOMINICAN TRADITION, PROVIDES A LIBERAL ARTS EDUCATION WITH A GLOBAL PERSPECTIVE, EMPHASIZES CAREER PREPARATION FOCUSED ON LEADERSHIP AND SERVICES TO OTHERS, AND FOSTERS A COMMITMENT TO A LIFELONG LEARNING DEDICATED TO THE PURSUIT OF TRUTH AND THE COMMON GOOD. false false 54192784 26051600 49405924 AQUINAS COLLEGE SERVES UNDERGRADUATE AND GRADUATE STUDENTS. THE COLLEGE STRIVES TO PROVIDE A LIBERAL ARTS EDUCATION WITH A GLOBAL PERSPECTIVE, EMPHASIZING CAREER PREPARATION FOCUSED ON LEADERSHIP AND SERVICE TO OTHERS, ROOTED IN THE CATHOLIC DOMINICAN TRADITION. 54192784 true true false false false false false false true true true false true true false true false true false true false true true true false false true true true true false false false false false false false false false true true true false false false false false false false true X 1674 0 950 true true true true EI false false false true true false false false false false false X 15 14 false false false false false true true true true false false false true true true false false true true false MI X TIMOTHY STAFFORD 6166322920 1700 FULTON STREET EAST GRAND RAPIDS MI 495061801 JOHN LOWERY Chair 0.6 0.0 X X 0 0 0 KIMBERLY HANRAHAN TREASURER 0.6 0.0 X X 0 0 0 THOMAS WELCH JR VICE CHAIR 0.6 0.0 X X 0 0 0 ANDOLA MATHIS TRUSTEE 0.6 0.0 X 0 0 0 CONOR DUGAN TRUSTEE 0.6 0.0 X 0 0 0 JOE MURPHY TRUSTEE 0.6 0.0 X 0 0 0 MARGARET KENNEDY TRUSTEE 0.6 0.0 X 0 0 0 MATT BIERSACK TRUSTEE 0.6 0.0 X 0 0 0 NAZAR MASSOUH TRUSTEE 0.6 0.0 X 0 0 0 RICK HEUVELMAN TRUSTEE 0.6 0.0 X 0 0 0 ROBERT WOODHOUSE JR TRUSTEE 0.6 0.0 X 0 0 0 SAMMUEL CUMMINGS TRUSTEE 0.6 0.0 X 0 0 0 SANDRA DELGADO TRUSTEE 0.6 0.0 X 0 0 0 SR BARBARA REID OP TRUSTEE 0.6 0.0 X 0 0 0 THOMAS MCGOVERN TRUSTEE 0.6 0.0 X 0 0 0 ALICIA CORDOBA PRESIDENT 40.0 0.0 X 310509 0 20546 TIMOTHY STAFFORD Vice President for Finance 40.0 0.0 X 107769 0 18477 Brian Divita Associate Professor Business Administration 40.0 0.0 X 106791 0 18031 Brian Matzke Vice President for Enrollment Management 40.0 0.0 X 106150 0 19269 Charles Gunnoe Interim Provost 40.0 0.0 X 101828 0 19372 David Cunningham Director, NetVUE 40.0 0.0 X 146512 0 18271 STEPHEN GERMIC PROVOST EVP ACADEMIC AFFAIRS (LEFT 09/23) 40.0 0.0 X 152961 0 5953 1032520 0 119919 7 true true false Creative Dining Services 1 Royal Park Drive Zeeland MI 49464 Dining Services 2369862 Ellucian Company LP 62578 Collections Center Dr Chicago IL 60693 Information technology services 1252792 Dean Trailways of Michigan 4812 Aurelius Rd Lansing MI 48910 Transportation 408535 Waybetter Marketing Inc PO Box 1439 Columbia MD 21044 Marketing Campaigns 234704 Pageworks 2801 Oak Industrial Dr Ste 3 Zeeland MI 48910 Printed Materials 152868 6 279770 533560 3230895 65465 4044225 TUITION AND FEES 611310 41503050 41503050 AUXILIARY SERVICES 611710 7120480 7120480 OTHER REVENUE 900099 951955 782394 169561 0 0 0 0 49575485 1335568 -553 1336121 418042 418042 0 418042 418042 14427536 12534656 1892880 0 1892880 1892880 32630 279770 82716 -50086 -50086 0 0 0 0 0 57216114 49405924 169008 3596957 35296 35296 25013695 25013695 1037905 1037905 0 0 565763 565763 0 0 0 0 0 14366027 12520493 1595119 250415 2121 1412 709 0 2127994 1500342 608254 19398 1011403 777459 215150 18794 58020 0 58020 0 74350 0 74350 0 0 0 0 0 18728 18728 153041 0 153041 0 5086700 3838554 1152033 96113 442993 288263 130533 24197 262306 198552 50245 13509 953343 149979 734616 68748 0 0 0 0 2075826 1859275 216551 0 820322 810980 8983 359 0 0 0 0 0 0 0 0 1589780 1252745 337035 0 0 0 0 0 3237854 3108646 129208 0 490917 122645 368272 0 SUPPLIES 617889 475603 133993 8293 OTHER 1463288 1200940 205919 56429 0 0 0 0 61505561 54192784 6737794 574983 600 600 2894172 2593694 2088549 1370524 880475 894979 0 0 0 0 230344 157020 129095512 66137086 65544260 62958426 38934430 40589353 6896322 6585112 0 10606254 11289297 128075406 126439005 2555884 2441966 204915 148877 28427789 28357016 50000 0 9119614 8119614 686636 973296 41044838 40040769 X 30938595 29280852 56091973 57117384 87030568 86398236 128075406 126439005 X -4289447 2659643 997472 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 43962214 287074 5162132 1942000 0 785439 46683981 41318389 767388 3574288 1045551 0 652300 43962214 48084905 767871 -5708198 1021800 0 804389 41318389 38432321 1160786 10420119 1025200 0 903121 48084905 38297011 715474 679103 740100 0 519167 38432321 0.0 0.79 0.21 true false 2483678 2483678 84633070 33133139 51499931 20934667 13404302 7530365 17445562 16103382 1342180 3598535 3496263 102272 62958426 ALTERNATIVE INVESTMENTS 6585112 F 6585112 CASH VALUE OF LIFE INSURANCE 17042 BENEFICIAL INTEREST IN TRUSTS 11272255 11289297 AGREEMENT 5017 STUDENT AND OTHER DEPOSITS 315321 FUNDS HELD IN TRUST FOR OTHERS 13759 CAPITALIZED LEASE OBLIGATIONS 639199 973296 34751304 2659643 1080188 3739831 31011473 153041 26051600 26204641 57216114 35383636 82716 82716 35300920 153041 26051600 26204641 61505561 Schedule D, Part I ASC 740 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. Schedule D, Part V, Line 4 Intended uses of endowment funds THE COLLEGE'S ENDOWMENT FUNDS ARE DEVOTED TO FURTHER THE MISSION OF THE COLLEGE. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS - 997472 FUNDRAISING EXPENSES - 82716 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements STUDENT AID - 26051600 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 FUNDRAISING EXPENSES - 82716 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements STUDENT AID - 26051600 true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY OUR DIVERSITY, NON-DISCRIMINATION POLICY, AND INTEGRITY STATEMENTS ARE LISTED ON OUR WEBSITE ON THE SAME PAGE AS OUR MISSION AND VISION STATEMENT. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT AQUINAS COLLEGE PROVIDES STUDENTS WITH APPLICABLE FEDERAL TITLE IV STUDENT ASSISTANCE PROGRAMS AND THAT OF MICHIGAN GRANTS AND SCHOLARSHIPS. true East Asia and the Pacific 0 0 Program Services Scholarships 120946 North America (Canada & Mexico only) 0 0 Program Services Scholarships 212570 Europe (Including Iceland and Greenland) 0 0 Program Services Scholarships 637389 Sub-Saharan Africa 0 0 Program Services Scholarships 67000 0 0 0 0 0 0 1037905 0 1037905 Scholarships East Asia and the Pacific 5 120946 Tuition discount Scholarships North America (Canada & Mexico only) 7 212570 Tuition Discount Scholarships Europe (Including Iceland and Greenland) 21 637389 Tuition Discount Scholarships Sub-Saharan Africa 2 67000 Tuition Discount false false false false false false Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds AQUINAS COLLEGE PARTNERS WITH FOREIGN SCHOOLS TO RECRUIT STUDENTS. AQUINAS RECEIVES TUITION REVENUE FROM STUDENTS RECRUITED THROUGH THIS ARRANGEMENT. Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements EAST ASIA AND THE PACIFIC-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual; SUB-SAHARAN AFRICA-Accrual Schedule F, Part III Method used to account for expenditures on org's financial statements EAST ASIA AND THE PACIFIC - EUROPE (INCLUDING ICELAND AND GREENLAND) - NORTH AMERICA (CANADA & MEXICO ONLY) - SUB-SAHARAN AFRICA - X X X X X X X true J MILITO AND ASSOCIATES INC 720 3 MILE RD NW STE 2 GRAND RAPIDS MI 49544 CALL CENTER false 18728 -18728 0 18728 -18728 MI Gala 154190 135665 18525 9429 18204 4854 Golf Outing 148210 134105 14105 600 10260 11349 10656 2 10000 10000 0 9689 7675 312400 279770 32630 600 19689 39242 23185 82716 -50086 true Junior Achievement of the Michigan Great Lakes Inc 4090 Lake Dr SE Grand Rapids MI 49546 381557861 501(C)(3) 25000 Support 1 0 Scholarships 1168 26051600 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. Adhere to application, compliance, reporting and ensuring the successful implementation of grant funded projects X X true true X X false false false false false false false false false ALICIA CORDOBA PRESIDENT 310509 0 0 0 0 0 4500 0 16046 0 331055 0 0 0 STEPHEN GERMIC PROVOST EVP ACADEMIC AFFAIRS (LEFT 09/23) 152961 0 0 0 0 0 0 0 5953 0 158914 0 0 0 David Cunningham Director, NetVUE 146512 0 0 0 0 0 2225 0 16046 0 164783 0 0 0 Schedule J, Part I, Line 1a Travel for companions PRESIDENT ALICIA CORDOBA RECEIVES TRAVEL BENEFITS FOR HER SPOUSE. THIS BENEFIT IS TREATED AS NON-TAXABLE COMPENSATION. Schedule J, Part I, Line 1a Housing allowance or residence for personal use THE PRESIDENT ALSO LIVES IN A HOUSE PROVIDED BY THE COLLEGE. THIS BENEFIT MEETS THE SECT. 119 EXCLUSION AND THEREFORE IS CONSIDERED A NONTAXABLE BENEFIT INCLUDED ON SCHEDULE J, PART II, COLUMN D. A MICHIGAN FINANCE AUTHORITY 800596186 594479GN1 2021-07-21 4580000 DEBT REFINANCING AND CAPITAL IMPRO false false false B MICHIGAN FINANCE AUTHORITY 800596186 594479GP6 2021-07-21 5685000 DEBT REFINANCING AND CAPITAL IMPRO false false false C MICHIGAN FINANCE AUTHORITY 800596186 594479GQ4 2021-07-21 16535000 DEBT REFINANCING AND CAPITAL IMPRO false false false A 2607011 0 4967669 366315 153592 0 88867 0 0 1751884 0 0 2021 true false true true B 3235995 0 6166201 454694 190649 0 110308 0 0 2174555 0 0 2021 true false true true C 9411993 0 17934588 1322492 554509 0 320833 0 0 6324761 0 0 2021 true false true true A false false false false 0.0 0.0 0.0 false false true B false false false false 0.0 0.0 0.0 false false true C false false false false 0.0 0.0 0.0 false false true A false true false false false false true B false true false false false false true C false true false false false false true A true B true C true APPLIED INNOVATION JOHN LOWERY - BOARD CHAIR 287165 EQUIPMENT LEASE PAYMENTS false X 1 18300 Market value X 2 40175 Market value X Floral arrangements 1 1990 Market value 0 false true false Schedule M, Part I THE AMOUNTS LISTED IN PART I, COLUMN B ARE BASED ON THE NUMBER OF CONTRIBUTORS FOR EACH TYPE OF PROPERTY CONTRIBUTED. Form 990, Part VI, Line 1b JOHN LOWERY IS CONSIDERED NON-INDEPENDENT DUE TO A TRANSACTION ON SCHEDULE L. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body TWO OF THE MEMBERS OF THE BOARD OF TRUSTEES SHALL BE APPOINTED BY THE PRIORESS OF THE SISTERS OF THE ORDER OF ST. DOMINIC OF OUR LADY OF THE SACRED HEART (THE DOMINICAN SISTERS). THE PRIORESS MAY, BUT NEED NOT, APPOINT HERSELF AS ONE OF HER TWO APPOINTEES. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders CERTAIN POWERS RELATING TO THE CONTROL AND OPERATION OF THE CORPORATION ARE RESERVED TO THE DOMINICAN SISTERS. THE RESERVED POWERS REQUIRE THE APPROVAL OF THE DOMINICAN SISTERS ACTING THROUGH THE PRIORESS, FOR CERTAIN ACTIONS TAKEN BY THE BOARD OF TRUSTEES. THOSE ACTIONS ARE: 1. THE ACQUISITION, DISPOSITION, OR CONSTRUCTION, IN ONE TRANSACTION OR A SERIES OF RELATED TRANSACTIONS, OF REAL PROPERTY AND IMPROVEMENTS OF A VALUE OF FIVE MILLION DOLLARS ($5,000,000) OR MORE. 2. A CHANGE IN THE MISSION OF THE CORPORATION. 3. A CHANGE TO THE BOARD COMPOSITION, INCLUDING THE NUMBER OF BOARD MEMBERS. 4. A CHANGE IN WHO WILL RECEIVE THE REMAINING ASSETS OF THE CORPORATION AFTER SATISFACTION OF ALL LIABILITIES, DEBTS AND OBLIGATIONS OF THE CORPORATION UPON DISSOLUTION OF THE CORPORATION. 5. TO AMEND OR REPEAL THE ARTICLES, IN WHOLE OR IN PART. Form 990, Part VI, Line 11b Review of form 990 by governing body THE FORM 990 IS PREPARED BY THE VICE PRESIDENT FOR FINANCE. THE FORM 990 DRAFT REVIEW PROCESS BEGINS WITH OUR ACCOUNTING AND TAX ADVISING FIRM, FOLLOWED BY THE PRESIDENT AND THE BOARD TREASURER. THE BOARD TREASURER MAKES THE FORM 990 AVAILABLE TO MEMBERS OF THE BOARD EXCLUDING SCHEDULE B. Form 990, Part VI, Line 12c Conflict of interest policy THE ASSISTANT TO THE PRESIDENT ANNUALLY DELIVERS AND COLLECTS THE CONFLICT OF INTEREST STATEMENTS FROM ALL ACTIVE BOARD OF TRUSTEE MEMBERS WHICH ARE THEN MADE AVAILABLE FOR REVIEW BY THE EXECUTIVE COMMITTEE OF THE BOARD. IF A CONFLICT ARISES, THERE IS A MEETING WITH THE INDIVIDUAL WITH WHOM THE CONFLICT EXISTS. IF THE CONFLICT IS NOT ELIMINATED, THE INDIVIDUAL IS REMOVED FROM THEIR ROLE. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE FULL BOARD OF TRUSTEES ANNUALLY REVIEWS AND APPROVES THE COMPENSATION PACKAGE FOR THE PRESIDENT BASED ON NUMEROUS FACTORS INCLUDING PERFORMANCE AND COMPARABILITY DATA. THROUGH THE ANNUAL REVIEW AND APPROVAL PROCESS OF THE BUDGET, THE FINANCE COMMITTEE OF THE BOARD APPROVES STAFF COMPENSATION. THIS PROCESS WAS MOST RECENTLY UNDERTAKEN IN 2023. Form 990, Part VI, Line 15b Process to establish compensation of other employees THE FULL BOARD OF TRUSTEES ANNUALLY REVIEWS AND APPROVES THE COMPENSATION PACKAGE FOR THE PRESIDENT BASED ON NUMEROUS FACTORS INCLUDING PERFORMANCE AND COMPARABILITY DATA. THROUGH THE ANNUAL REVIEW AND APPROVAL PROCESS OF THE BUDGET, THE FINANCE COMMITTEE OF THE BOARD APPROVES STAFF COMPENSATION. THIS PROCESS WAS MOST RECENTLY UNDERTAKEN IN 2023. Form 990, Part VI, Line 19 Required documents available to the public ALL DOCUMENTS OPEN TO PUBLIC INSPECTION ARE MADE AVAILABLE UPON REQUEST. Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS - 997472; FORM 990,PART VII COMPENSATION OF THE 5 HIGHEST PAID IND. CONTRACTORS NAME AND ADDRESS ---------------- DESCRIPTION OF SERVICES ----------------------- COMPENSATION ------------ CREATIVE DINING SERVICES ONE ROYAL PART DRIVE ZEELAND, MI 49464 DINING SERVICES 2,389,699. ELLUCIAN COMPANY, L.P. 62578 COLLECTIONS CENTER DR CHICAGO, IL 60693 INFORMATION TECH 815,243. WAYBETTER MARKETING, INC PO BOX 1439 COLUMBIA, MD 21044 MARKETING CAMPAIGNS 219,092. PAGEWORKS 2801 OAK INDUSTRIAL DR, STE 3 ZEELAND, MI 48910 PRINTED MATERIALS 204,471. DEAN TRAILWAYS OF MICHIGAN 4812 AURELIUS RD LANSING, MI 48910 TRANSPORTATION 447,846.