2025-02-04T10:34:07+00:00 2024-06-30 440160260 Forvis Mazars LLP 111 E Wayne Street Suite 600 Fort Wayne IN 46802 990 2023-07-01 350845258 INDIANA INSTITUTE OF TECHNOLOGY INC INDI 2604425561 1600 EAST WASHINGTON BLVD FORT WAYNE IN 46803 JUDY K ROY TREASURER 2604425561 2025-02-04 true true Lauren Denton P01571860 2604604000 2025-02-04 2023 2025-03-06 01:10:19Z INDIANA TECH KARL W EINOLF 1600 EAST WASHINGTON BLVD FORT WAYNE IN 46803 140294456 false X WWW.INDIANATECH.EDU X 1948 IN PROVIDES LEARNERS WITH CAREER-FOCUSED, PROFESSIONAL EDUCATION IN THE AREAS OF BUSINESS, COMPUTER STUDIES, ENGINEERING, CRIMINAL SCIENCE, AND GENERAL STUDIES. 19 17 1024 50 433352 0 6082896 5089293 76354806 92256220 4695166 4338031 49356 12981 87182224 101696525 28672583 40571110 0 0 31069950 32580571 140250 145700 1179581 34843596 36285729 94726379 109583110 -7544155 -7886585 320817510 332648381 48786762 59646849 272030748 273001532 INDIANA TECH IS A PRIVATE, INDEPENDENT, AND NON-DENOMINATIONAL UNIVERSITY. STUDENTS ARE PREPARED FOR ACTIVE PARTICIPATION IN THE COMPLEX, GLOBAL SOCIETY OF THE 21ST CENTURY AND ARE MOTIVATED TOWARD A LIFE OF SIGNIFICANCE AND WORTH. ABOUT 1,300 STUDENTS ARE ENROLLED IN THE TRADITIONAL DAY SCHOOL, AND THE COLLEGE OF PROFESSIONAL STUDIES HAS ABOUT 5,500 STUDENTS ENROLLED. false false 90102279 40571110 92256220 AT INDIANA INSTITUTE OF TECHNOLOGY, WE EXCEL AT EDUCATING STUDENTS FROM ALL WALKS OF LIFE, FOR ALL KINDS OF MEANINGFUL WORK. WE'RE A TRULY INCLUSIVE COMMUNITY OF LEARNERS, ENSURING THAT STUDENTS ARE SUPPORTED, INSPIRED, AND EMPOWERED TO MAXIMIZE THEIR PROFESSIONAL PROSPECTS, ADVANCE IN THEIR CAREERS, AND IMPROVE THEIR LIVES AND THE LIVES OF OTHERS. WE BELIEVE STUDENTS LEARN BEST WHEN THEY MEANINGFULLY ENGAGE WITH A REAL-WORLD PROFESSOR. WITH AN ALUM. WITH A CAUSE. WITH A TEAM. WITH A PEER. SIMPLY PUT, OUR MODEL IS HANDS-ON. INDIANA TECH OFFERS DEGREES AT THE ASSOCIATE, BACHELOR'S, MASTER'S AND DOCTORAL LEVELS, IN FIELDS SUCH AS ENGINEERING, COMPUTER SCIENCES, CYBERSECURITY, BUSINESS, ANALYTICS, CRIMINAL JUSTICE, BIOLOGY, HEALTH SCIENCES, AND MORE. IN ALL, THE UNIVERSITY OFFERS MORE THAN 60 QUALITY DEGREE OPTIONS. 90102279 true true false false false false true false true true false false false true false true false true true true false false true true false false false true true true false false false false false false false false false false false false false false false true false false false true 5025 0 1024 true true true false false false false false false false false false false false X 19 17 false false false false false false false true true false false true true true true true true true true false IN X SHELLY MUSOLF 2603992828 1600 E WASHINGTON BLVD FORT WAYNE IN 46803 Karl W Einolf President 40.0 0.0 X X 533390 0 143338 Anthony J Juliano Trustee 1.0 0.0 X 0 0 0 Arnold O Pierson Trustee 1.0 0.0 X 0 0 0 Cheri A Becker Trustee 1.0 0.0 X 0 0 0 Clifford M Clark Trustee 1.0 0.0 X 0 0 0 D Geoffrey Paddock Trustee 1.0 0.0 X 0 0 0 David J Nash Trustee 1.0 0.0 X 0 0 0 Dena M Jacquay Trustee 1.0 0.0 X 0 0 0 Gregg C Sengstack Trustee 1.0 0.0 X 0 0 0 Jack Phlipot Associate Professor 40.0 0.0 X 114951 0 28804 Jarrod R Stoller Trustee 1.0 0.0 X 0 0 0 Jeffrey A Benzing Trustee 1.0 0.0 X 0 0 0 John Kunze Trustee 1.0 0.0 X 0 0 0 Mark Dely Trustee 1.0 0.0 X 0 0 0 Richard J Schul Trustee 1.0 0.0 X 0 0 0 Thomas L Burns Trustee 1.0 0.0 X 0 0 0 Wendy Kobler Trustee 1.0 0.0 X 0 0 0 Whitney Bandemer Trustee 1.0 0.0 X 0 0 0 William Daugherty Trustee 1.0 0.0 X 0 0 0 Judy K Roy Treasurer 40.0 0.0 X 260452 0 48450 Daniel Grigg VP Insitutional Advancement 40.0 0.0 X 210918 0 42679 Daniel J Stoker VP Student Affairs 40.0 0.0 X 162122 0 28415 Kathleen H Watland VPAA 40.0 0.0 X 193215 0 40049 Steve A Herendeen VP Enrollment Management 40.0 0.0 X 212410 0 60569 Anne M Gull Dean of COAS 40.0 0.0 X 140504 0 38089 Jeff S Leichty VP/CIO 40.0 0.0 X 138731 0 38304 Lori A Fincannon Dean College of Business 40.0 0.0 X 152986 0 35049 Michelle R Musolf Controller 40.0 0.0 X 146136 0 32580 Ying Shang Dean of Engineering 40.0 0.0 X 166756 0 42400 2432571 0 578726 47 false true false Asher Agency Inc 535 W Wayne St Fort Wayne IN 46802 Advertising 2196201 EAB Global Inc 2445 M Street W Washington DC 20037 Advertising 927650 My Footpath LLC 820 W Jackson Chicago IL 60607 Student Recruiting 472309 Forvis Mazars LLP 111 E Wayne St Fort Wayne IN 46802 Audit/Consulting Services 392066 Geebee Education Pvt Ltd 27 Vaswani Mansions 5th Floor Mumbai IN 400020 Student Recruiting 325500 20 15830 10086 5063377 15493 5089293 TUITION & FEES 611710 83134526 83134526 RESIDENCE HALLS 611710 8119783 8119783 MISCELLANEOUS 611710 1001911 724767 277144 0 0 0 0 92256220 6626712 156208 6470504 15100 15100 0 0 0 0 36201013 10332 38481562 18464 -2280549 -8132 -2288681 -2288681 5620 15830 13055 -7435 -7435 84505 69750 14755 14755 VENDING COMMISSION 611710 3787 3787 WELLNESS CENTER 611710 1874 1874 0 0 0 0 5661 101696525 91979076 433352 4194804 40571110 40571110 1494243 114951 1168374 210918 24781374 19497335 4840939 443100 2000904 1574259 390868 35777 2461190 1936400 480783 44007 1842860 1449914 359995 32951 115223 115223 102820 102820 145700 145700 775407 775407 7768149 5019892 2687513 60744 3547402 233616 3275097 38689 344969 320585 23229 1155 2616321 118718 2497603 3234416 3139856 94560 583541 321228 141467 120846 246226 165793 77642 2791 942581 884542 58039 6766041 6490364 275677 479195 479195 ATHLETIC PROGRAMS 2654362 2654362 SUPPLIES 2040066 2040066 BAD DEBTS 1266925 1266925 STUDENT SUPPORT 1096945 1082293 14652 1705140 1220070 442167 42903 109583110 90102279 18301250 1179581 5350 5350 10338792 8827315 5734783 7383488 1613895 1690691 0 0 0 0 0 0 581776 524276 2213113 1948184 228038443 78845082 135867001 149193361 157167490 158129456 0 0 0 0 7295310 4946260 320817510 332648381 4691371 4477835 0 0 2256922 2338987 38688920 48004910 0 0 0 0 0 0 0 0 3149549 4825117 48786762 59646849 X 237031970 237086381 34998778 35915151 272030748 273001532 320817510 332648381 X -7886585 8834269 23100 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 891037 X false 160770232 3247492 13686758 1023795 10008151 775407 165897129 164687448 1248572 8427433 950445 11862733 780043 160770232 170407145 293529 -4161210 856763 229427 765826 164687448 137645960 223341 33618496 749330 116475 214847 170407145 137039068 943283 721566 766299 102531 189127 137645960 0.83 0.12 0.05 false false 13262570 13262570 145677169 45614211 100062958 42743336 33230871 9512465 26355368 26355368 149193361 ADVANCE FROM FEDERAL AGENCY 19598 OPERATING LEASE LIABILITIES 1905519 LINE OF CREDIT 2900000 4825117 69305282 8834269 121005 8955274 60350008 775407 40571110 41346517 101696525 68334498 97905 97905 68236593 775407 40571110 41346517 109583110 ASC 740 FOOTNOTE 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 III, Line 4 Collections of art - description of collections THE UNIVERSITY ART GALLERY, FRANCO D'AGOSTINO ART GALLERY, HOLDS WORKS OF ART FOR THE PUBLIC EXHIBITION. DONATED PIECES ARE DISPLAYED FOR VIEWERS TO ENJOY. ON OCCASION, TRAVELING COLLECTIONS ARE AVAILABLE TO VIEW FOR A LIMITED TIME. THE ART GALLERY PROVIDES CULTURE TO HELP ROUND A STUDENT'S FULL EDUCATION AT INDIANA INSTITUTE OF TECHNOLOGY. Schedule D, Part V, Line 4 Intended uses of endowment funds PERMANENTLY RESTRICTED NET ASSETS ARE RESTRICTED TO INVESTMENT IN PERPETUITY, THE INCOME OF WHICH IS EXPENDABLE TO SUPPORT ANY ACTIVITY OF THE INSTITUTE, SCHOLARSHIPS, FACULTY DEVELOPMENT, ENGINEERING AND SCIENCE CHAIR, SCHOOL OF BUSINESS, AND SCHOOL OF ENGINEERING ACTIVITIES. TEMPORARILY RESTRICTED NET ASSETS WERE RELEASED FROM DONOR RESTRICTIONS BY INCURRING EXPENSES SATISFYING THE RESTRICTED PURPOSES OR BY THE OCCURRENCE OF OTHER EVENTS SPECIFIED BY DONORS. BOARD-DESIGNATED OR QUASI-ENDOWMENT FUNDS ARE THOSE AVAILABLE FOR USE FOR PURPOSES DETERMINED BY BOARD ACTION. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 RENT EXPENSE - 15100 CHANGE IN VALUE OF PERPETUAL TRUST - 23100 SPECIAL EVENTS EXPENSE - 13055 COST OF GOODS SOLD - 69750 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements STUDENT AID - 40571110 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 RENT EXPENSE - 15100 SPECIAL EVENTS EXPENSE - 13055 COST OF GOODS SOLD - 69750 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements STUDENT AID - 40571110 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 THE RACIALLY NONDISCRIMINATORY POLICY IS PUBLICIZED ON THE UNIVERSITY'S WEBSITE AND IN THE STUDENT HANDBOOK. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT INDIANA INSTITUTE OF TECHNOLOGY, INC. RECEIVED FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENTAL AGENCY IN THE FORM OF GRANTS FOR STUDENTS AND INSTITUTIONAL EXPENSES ALLOWABLE UNDER THE HIGHER EDUCATION EMERGENCY RELIEF FUNDING. true South Asia 14 Program Services STUDENT RECRUITMENT 796800 0 14 0 0 0 14 796800 0 796800 true false false false false false Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds SCHOLARSHIPS ARE GIVEN TO INDIVIDUALS BASED ON NEED AND MERIT TO AID WITH TUITION AND FEES. SCHOLARSHIPS ARE A REDUCTION OF TUITION AND FEES AND PROVIDED DIRECTLY BY THE UNIVERSITY. RECORDS ARE MAINTAINED FOR ELIGIBILITY AND THE SELECTION CRITERIA. Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements SOUTH ASIA-Accrual X X X X X X X true JF SMITH GROUP INC CONSULTING false 34500 -34500 MCALLISTER & QUINN CONSULTING false 111200 -111200 0 145700 -145700 CA CT DE FL GA AL HI ID IL IN IA KS KY LA ME MA NE NJ NM NC ND OK AZ RI SD TN TX UT VT VA WI WY Golf Outing 21450 15830 5620 1198 11712 145 0 0 21450 15830 5620 1198 11712 145 13055 -7435 true SCHOLARSHIPS FOR TUITION AND FEES 4377 40571110 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. SCHOLARSHIPS ARE GIVEN TO INDIVIDUALS BASED ON NEED AND MERIT TO AID WITH TUITION AND FEES. SCHOLARSHIPS ARE A REDUCTION OF TUITION AND FEES AND PROVIDED DIRECTLY BY THE UNIVERSITY. RECORDS ARE MAINTAINED FOR ELIGIBILITY AND THE SELECTION CRITERIA. X X true true X X X X X false true false false false false false false false Karl W Einolf President 416459 0 69357 0 47574 0 97387 0 45951 0 676728 0 0 0 Judy K Roy Treasurer 259150 0 0 0 1302 0 26523 0 21927 0 308902 0 0 0 Steve A Herendeen VP Enrollment Management 209267 0 0 0 3143 0 22161 0 38408 0 272979 0 0 0 Daniel Grigg VP Insitutional Advancement 201490 0 0 0 9428 0 20749 0 21930 0 253597 0 0 0 Daniel J Stoker VP Student Affairs 161322 0 0 0 800 0 16132 0 12283 0 190537 0 0 0 Kathleen H Watland VPAA 191361 0 0 0 1854 0 19641 0 20408 0 233264 0 0 0 Ying Shang Dean of Engineering 166126 0 0 0 630 0 17080 0 25320 0 209156 0 0 0 Lori A Fincannon Dean College of Business 151249 0 0 0 1737 0 15671 0 19378 0 188035 0 0 0 Jeff S Leichty VP/CIO 137592 0 0 0 1139 0 14721 0 23583 0 177035 0 0 0 Anne M Gull Dean of COAS 139649 0 0 0 855 0 14371 0 23718 0 178593 0 0 0 Michelle R Musolf Controller 145089 0 0 0 1047 0 13726 0 18854 0 178716 0 0 0 Schedule J, Part I, Line 1a Housing allowance or residence for personal use A HOUSING ALLOWANCE IS PROVIDED FOR THE PRESIDENT AND REPORTED ON HIS W-2. THE PRESIDENT ALSO RECEIVES GROSSED UP PAYMENTS ON HIS W-2. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan DR. EINOLF HAS A DEFERRED COMPENSATION PLAN AS DESCRIBED IN SECTION 457(F). DURING 2023, AMOUNTS DEFERRED UNDER THE PLAN WERE $64,387. THERE WERE NO AMOUNTS PAID OUT DURING 2023. A INDIANA FINANCE AUTHORITY 2020 351602316 2020-12-30 21725000 CAPITAL PROJECTS AND REFINANCE 2018B SERIES false false false B INDIANA FINANCE AUTHORITY 351602316 2018-01-02 29045000 CAPITAL PROJECTS & PARTIAL REFINANCE false false false C INDIANA FINANCE AUTHORITY 2023 351602316 2023-04-01 14000000 CAPITAL PROJECTS false false false A 11000000 21725000 175000 1200000 2022 true false false true B 4335000 29045000 1659984 285106 27100000 2021 true false true true C 14000000 150000 13850000 2024 false false false true A false false false false 0.0 false false false true B false false false false 0.0 false false false true C false false false false 0.0 false false false true A true false false false false true B true false true false false true C true false false false false true A true B true C true Form 990, Part VI, Line 1b KARL W. EINOLF AND JACK PHILPOT ARE PAID EMPLOYEES OF INDIANA INSTITUTE OF TECHNOLOGY AND ARE THEREFORE CONSIDERED NON-INDEPENDENT VOTING MEMBERS OF THE BOARD. Form 990, Part VI, Line 11b Review of form 990 by governing body AN INDEPENDENT CPA FIRM COMPILES INFORMATION FOR THE FORM 990 AND RELATED SCHEDULES USING INFORMATION PROVIDED BY THE ORGANIZATION. THE FORM AND RELATED SCHEDULES ARE REVIEWED BY MANAGEMENT AND PROVIDED TO ALL BOARD MEMBERS FOR THEIR REVIEW PRIOR TO FILING. AFTER BOARD APPROVAL, FORM 990 AND SCHEDULES ARE FILED WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy AN ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE IS SENT TO ALL INTERESTED PERSONS. IF A MATTER ARISES AT A MEETING OF THE BOARD OR ONE OF ITS COMMITTEES, EVERY TRUSTEE SHALL DISCLOSE ANY POSSIBLE CONFLICT OF INTEREST AT THE ONSET OF THE DISCUSSION. FURTHER, THE TRUSTEE SHALL EXCUSE HIMSELF OR HERSELF FROM DISCUSSIONS OF, AND ABSTAIN FROM VOTING ON, ALL SUCH MATTERS UNDER CONSIDERATION BY THE BOARD OF TRUSTEES OR ANY OF ITS COMMITTEES. THE MINUTES OF SUCH MEETINGS SHALL REFLECT THAT DISCLOSURE WAS MADE AND THAT THE TRUSTEE WITH A CONFLICT OR POSSIBLE CONFLICT WAS ABSENT FROM DISCUSSIONS AND VOTING. Form 990, Part VI, Line 15a Process to establish compensation of top management official AN ANNUAL COMPENSATION REVIEW IS PERFORMED FOR THE PRESIDENT AND KEY EMPLOYEES. FOR THE PRESIDENT, THE REVIEW INCLUDES A COMPARABILITY STUDY OF SIMILAR NOT-FOR-PROFIT COLLEGES AND THEIR ASSOCIATED COMPENSATION RANGES, AS WELL AS A REVIEW OF GOALS SET FORTH AND ACHIEVED. THE BOARD OF DIRECTORS OVERSEES THIS REVIEW. THE PRESIDENT PERFORMS THE REVIEWS FOR KEY EMPLOYEES. THIS INCLUDES A REVIEW OF GOALS SET FORTH AND ACHIEVED. THIS PROCESS IS PERFORMED ANNUALLY. Form 990, Part VI, Line 19 Required documents available to the public THE FORM 990, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE ALL AVAILABLE UPON REQUEST. Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN VALUE OF PERPETUAL TRUST - 23100; INDEPENDENT COLLEGES OF INDIANA 30 SOUTH MERIDAN INDIANAPOLIS IN 46204 310901001 EDUCATION IN 501(c)(3) NA false false false true false false false false false false false false false false false false false false false false Schedule R, Part V, Line 1o ICI employed a grant accountant who worked part-time on Indiana Tech's grants.