2022-05-10T12:36:04-05:00 2021-06-30 BKD LLP 200 E Main St Suite 700 Fort Wayne IN 46802 990 2020-07-01 381367080 AQUINAS COLLEGE % TIMOTHY STAFFORD AQUI 6166328900 1700 FULTON STREET EAST GRAND RAPIDS MI 495061801 TIMOTHY STAFFORD INTERIM CFO 6166322885 2022-05-15 true TIMOTHY STAFFORD 999009999 Lauren R Denton P01571860 2604604000 3 2020 2022-09-23 18:48:47Z DR STEPHEN GERMIC 1700 FULTON STREET EAST GRAND RAPIDS MI 495061801 81349297 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. 12 11 914 12 110191 79773 8069216 9859270 48764786 47914563 879679 7402762 148190 135759 57861871 65312354 23485802 24506521 0 0 21927896 19882741 95050 93719 1164030 16090331 15463148 61599079 59946129 -3737208 5366225 134653902 140086964 43071635 36318729 91582267 103768235 X 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 51975777 24484076 47802778 AQUINAS COLLEGE SERVES 1,372 UNDERGRADUATE AND 145 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. 51975777 true true false false false false false false false true true false false true true false true false true false true false true true true false false false true true true false false false false false true false false false false true true false false false false false false false true 2149 0 914 true true true true EI false false false true true false false false false false false X 12 11 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 KEVIN QUINN PRESIDENT 40.0 0.0 X 268620 0 26482 ERIN CRAIG VP FOR ENROLLMENT MANAGEMENT 40.0 0.0 X 184742 0 22687 LISA VANDEWEERT VP FOR FINANCE/CFO 40.0 0.0 X 157766 0 25616 GINA OSTERGREN VP FOR ADVANCEMENT 40.0 0.0 X 134018 0 24863 SUSAN ENGLISH SCHOOL OF EDUCATION DEAN 40.0 0.0 X 101400 0 24983 MARCIE HILLARY CHAIR 0.6 0.0 X X 0 0 0 KIMBERLY HANRAHAN TREASURER 0.6 0.0 X X 0 0 0 JAMES RABAUT SECRETARY 0.6 0.0 X X 0 0 0 SANDRA DELGADO TRUSTEE 0.6 0.0 X 0 0 0 RICK HEUVELMAN TRUSTEE 0.6 0.0 X 0 0 0 JOHN LOWERY TRUSTEE 0.6 0.0 X 0 0 0 ANDOLA MATHIS TRUSTEE 0.6 0.0 X 0 0 0 THOMAS MCGOVERN TRUSTEE 0.6 0.0 X 0 0 0 JOE MURPHY TRUSTEE 0.6 0.0 X 0 0 0 SR BARBARA REID OP TRUSTEE 0.6 0.0 X 0 0 0 THOMAS WELCH JR VICE CHAIR 0.6 0.0 X X 0 0 0 SAMUEL CUMMINGS TRUSTEE 0.6 0.0 X 0 0 0 846546 0 124631 5 false true false PIONEER GENERAL CONTRACTORS 550 KIRTLAND ST SW GRAND RAPIDS MI 49507 CONSTRUCTION 696565 CREATIVE DINING SERVICES ONE ROYAL PART DRIVE ZEELAND MI 49464 DINING SERVICES 1708714 ELLUCIAN COMPANY LP 62578 COLLECTIONS CENTER DR CHICAGO IL 60693 INFORMATION TECH 986592 WAYBETTER MARKETING INC PO BOX 1439 COLUMBIA MD 21044 MARKETING CAMPAIGNS 238566 PRESIDIO HOLDINGS PO BOX 677638 DALLAS TX 75267 INFORMATION TECH 230591 14 58780 6332094 3468396 39000 9859270 TUITION AND FEES 611310 42140983 42140983 AUXILIARY SERVICES 611710 5510633 5510633 OTHER REVENUE 900099 262947 151162 111785 47914563 960395 -1594 961989 0 0 166490 166490 0 166490 166490 22432929 225 15988787 6444142 225 6442367 6442367 17425 58780 48156 -30731 -30731 0 0 0 0 0 0 0 65312354 47802778 110191 7540115 22445 22445 22958476 22958476 1525600 1525600 0 444449 444449 0 15426975 13101281 1728574 597120 1917 1471 384 62 3140657 1957357 1094514 88786 868743 679146 159184 30413 0 218067 218067 85750 85750 0 93719 93719 257930 257930 3860002 2607903 1190769 61330 447427 231170 116114 100143 302516 213346 49240 39930 1393674 934410 391414 67850 0 1819705 1575956 243749 396315 231632 146567 18116 0 0 1205883 1054473 151410 0 3800117 3648470 151647 251997 251997 SUPPLIES 637529 537901 83242 16386 OTHER 786236 694740 41321 50175 59946129 51975777 6806322 1164030 630 600 4154503 2391021 4751248 3925436 929947 1030807 0 0 0 0 0 0 0 0 37243 444992 128989720 57488964 74937113 71500756 39767488 49006607 0 0 0 0 0 0 10075730 11786745 134653902 140086964 6150248 3699366 0 0 3851227 245090 15886084 15198600 0 0 0 100000 13992514 15214714 0 0 3191562 1860959 43071635 36318729 X 41912696 42540205 49669571 61228030 91582267 103768235 134653902 140086964 X 5366225 4342287 2477456 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 38432321 1160786 10420119 1025200 903121 48084905 38297011 715474 679103 740100 519167 38432321 38958461 691765 1949936 745000 2558151 38297011 35224095 2878052 2495672 674900 964458 38958461 31025646 918214 3614855 724200 34834515 0.74220 0.25780 true false 2483678 2483678 84633070 27313630 57319440 20098851 11504363 8594488 18189636 15365505 2824131 3584485 3305466 279019 71500756 CASH VALUE OF LIFE INSURANCE 17042 BENEFICIAL INTEREST IN TRUSTS 11769703 11786745 0 AGREEMENT 6682 STUDENT AND OTHER DEPOSITS 452817 REFUNDABLE PERKINS LOAN ADVANCES 32880 FUNDS HELD IN TRUST FOR OTHERS 30879 DERIVATIVE LIABILITY 718366 CAPITALIZED LEASE OBLIGATIONS 619335 1860959 48071403 4342287 2530972 6873259 41198144 257930 23856280 24114210 65312354 35885435 48156 48156 35837279 257930 23850920 24108850 59946129 SCHEDULE D, PART V, LINE 4 THE UNIVERSITY'S ENDOWMENT FUNDS ARE DEVOTED TO FURTHER THE MISSION OF THE COLLEGE. 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. PART XI, LINE 2D CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS $ 2,035,252 FUNDRAISING EXPENSES $ 48,156 INTEREST RATE SWAP VALUATION $ 447,564 TOTAL $ 2,530,972 PART XI, LINE 4B CHANGE IN CASH VALUE OF LIFE INSURANCE $ 5,360 STUDENT AID $23,850,920 TOTAL $23,856,280 PART XII, LINE 2D FUNDRAISING EXPENSES $ 48,156 PART XII, LINE 4B STUDENT AID $23,850,920 true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3 THE SCHOOL'S MISSION AND PROCLAMATION ON DIVERSITY ARE PUBLISHED IN THE CATALOG, RECRUITMENT MATERIALS, ADMISSIONS MATERIALS AND WEBSITE. SCHEDULE E, PART I, LINE 6A AQUINAS COLLEGE PROVIDES STUDENTS WITH APPLICABLE FEDERAL TITLE IV STUDENT ASSISTANCE PROGRAMS AND THAT OF MICHIGAN GRANTS AND SCHOLARSHIPS. false ICELAND PROGRAM SERVICES STUDY ABROAD 16557 EAST ASIA AND THE PACIFIC PROGRAM SERVICES SCHOLARSHIPS 125049 NORTH AMERICA PROGRAM SERVICES SCHOLARSHIPS 202657 RUSSIA/NEWLY INDEPENDENT STATES PROGRAM SERVICES SCHOLARSHIPS 24200 SOUTH AMERICA PROGRAM SERVICES SCHOLARSHIPS 131254 SUB-SAHARAN AFRICA PROGRAM SERVICES SCHOLARSHIPS 35790 CENTRAL AMERICA/THE CARIBBEAN INVESTMENTS INVESTMENTS 3191281 EUROPE PROGRAM SERVICES SCHOLARSHIPS 993712 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES SCHOLARSHIP 12938 4733438 4733438 SCHOLARSHIPS East Asia and the Pacific 7 125049 TUITION DISC SCHOLARSHIPS Europe (Including Iceland and Greenland) 33 16557 TUITION DISC SCHOLARSHIPS North America 8 202657 TUITION DISC SCHOLARSHIPS Russia and the Newly Independent States 1 24200 TUITION DISC SCHOLARSHIPS South America 5 131254 TUITION DISC SCHOLARSHIPS Sub-Saharan Africa 2 35790 TUITION DISC SCHOLARSHIPS Central America and the Caribbean 1 12938 TUITION DISC false false false false false true X X X X X X X true THE BRETON GROUP STAFF TRAIN false 72000 J MILITO AND ASSOCIATES INC CALL CENTER false 21719 93719 WEGE PRO-AM GOL 66515 55605 10910 5649 12375 9889 4702 HOMECOMING 9690 3175 6515 500 15041 0 76205 58780 17425 5649 12375 10389 19743 48156 -30731 true SCHOLARSHIPS 1391 22958476 SCHEDULE I, PART I, LINE 2 STUDENTS RECEIVE SCHOLARSHIPS AS CREDITS AGAINST TUITION. THESE SCHOLARSHIPS CAN BE BASED ON NEED, ACADEMIC PERFORMANCE, AND/OR ATHLETICS. X X X true true X X false false false false false false false false false KEVIN QUINN PRESIDENT 268620 0 0 0 0 0 4500 0 21982 0 295102 0 LISA VANDEWEERT VP FOR FINANCE/CFO 157766 0 0 0 0 0 2625 0 22991 0 183382 0 ERIN CRAIG VP FOR ENROLLMENT MANAGEMENT 184742 0 0 0 0 0 3000 0 19687 0 207429 0 GINA OSTERGREN VP FOR ADVANCEMENT 134018 0 0 0 0 0 1875 0 22988 0 158881 0 SCHEDULE J, PART I, LINE 1A PRESIDENT KEVIN QUINN RECEIVES TRAVEL BENEFITS FOR HIS SPOUSE. THE PRESIDENT ALSO RECEIVES A HOUSING ALLOWANCE, AS REQUIRED BY THE BOARD. COUNTRY CLUB DUES ARE ALSO PAID FOR. THE COUNTRY CLUB IS FOR BUSINESS USE ONLY. THESE BENEFITS ARE TREATED AS NON-TAXABLE COMPENSATION. A MICHIGAN FINANCE AUTHORITY LIMITED OBLIGATION HIGH 800596186 2018-11-20 17230000 DEBT REFINANCING AND CAPITAL IMPRO false false false A 690000 0 17230000 0 0 17230000 0 0 0 0 0 0 2018 true false true true A false false false false 0 false false false false A false true false false false false 0 false false false 0 false false A false SCHEDULE K AQUINAS COLLEGE HAS ANSWERED NO TO PART III LINE 9, PART IV LINE 7, AND PART V. AQUINAS COLLEGE IS CURRENTLY ESTABLISHING THESE POLICIES AND PROCEDURES. RICK HEUVELMAN BOARD MEMBER ATH. FIELD UPGRADE X 150000 100000 false false true 100000 X 2 39000 APPRAISAL X 4091 FAIR MARKET VALUE false true false FORM 990, PART VI, SECTION A, LINE 1B RICK HEUVELMAN IS CONSIDERED NON-INDEPENDENT DUE TO A TRANSACTION ON SCHEDULE L. FORM 990, PART VI, SECTION A, LINE 7A 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, SECTION A, LINE 7B 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, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE CONTROLLER. THE FORM 990 DRAFT REVIEW PROCESS BEGINS WITH OUR ACCOUNTING AND TAX ADVISING FIRM, FOLLOWED BY THE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER, THE PRESIDENT, AND THE BOARD TREASURER. THE DRAFT FORM 990 IS DISCUSSED WITH THE FINANCE COMMITTEE OF THE BOARD. THE BOARD TREASURER MAKES THE FORM 990 AVAILABLE TO MEMBERS OF THE BOARD EXCLUDING SCHEDULE B. FORM 990, PART VI, SECTION B, LINE 12C 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, SECTION B, LINE 15A & 15B 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 2021. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS OPEN TO PUBLIC INSPECTION ARE MADE AVAILABLE UPON REQUEST. PART XI, LINE 9 CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS $ 2,035,252 CHANGE IN CASH VALUE OF LIFE INSURANCE $ -5,360 INTEREST RATE SWAP VALUATION $ 447,564 TOTAL $ 2,477,456