2022-05-11T15:40:34-07:00 2021-06-30 440160260 BKD LLP 200 E Main Street Suite 700 Fort Wayne IN 46802 990 2020-07-01 382410852 KETTERING UNIVERSITY KETT 8107629790 1700 University Avenue Flint MI 485046214 Thomas Ayers Treasurer 8107629925 2022-05-11 1 Lauren Denton P01571860 2604604000 2022-05-11 1 11 1 AAL2 2020 2022-09-23 18:48:47Z Robert K McMahan 1700 University Avenue Flint MI 48504 107585322 0 X www.kettering.edu X 1982 MI Kettering University prepares students for lives of extraordinary leadership and service by linking transformative experiential learning opportunities to rigorous academic programs in engineering, science, mathematics, and business. Founded in 1919 by a group of Flint leaders with a vision for transforming the automobile industry, Kettering University today offers 14 undergraduate degrees, 7 graduate degrees, and a variety of concentrations and minors that allow it to deliver an education that couples theory and practice better than any other institution in the world. The University is dedicated to achieving the extraordinary through technological innovation, leadership and service. Through growth, global leadership, community outreach and an engaged community of stakeholders the University strives to fulfill its mission. The University's actions are imbued by a set of values that foster respect, integrity, creativity, collaboration and excellence. 25 24 900 1449 183446 155314 7565628 25234401 57837517 52326283 2779836 4744000 128999 51795 68311980 82356479 3624652 3993405 0 0 39793368 39647605 0 0 2572915 26132183 21767523 69550203 65408533 -1238223 16947946 242847651 281450228 48884630 49643910 193963021 231806318 We prepare students for lives of extraordinary leadership and service by linking transformative experiential learning opportunities to rigorous academic programs in engineering, science, mathematics, and business. Founded in 1919 by a group of Flint leaders with a vision for transforming the automobile industry, Kettering University today offers 14 undergraduate degrees, 8 graduate degrees, and a variety of concentrations and minors that allow it to deliver an education that couples theory and practice better than any other institution in the world. The University is dedicated to achieving the extraordinary through technological innovation, leadership and service. Through growth, global leadership, community outreach and an engaged community of stakeholders the University strives to fulfill its mission. The University's actions are imbued by a set of values that foster respect, integrity, creativity, collaboration and excellence. 0 0 18623429 3993405 38408548 Undergraduate Instruction. Delivered 58,526 undergraduate student credit hours of instruction (one student credit hour represents 10 hours of instruction for one student). Awarded 428 baccalaureate degrees in 14 different programs. 2069270 0 6196426 Graduate Instruction. Delivered 6,556 graduate student credit hours of instruction (one student credit hour represents 10 hours of instruction for one student). Awarded 202 master's degrees in 8 different programs. 2172467 0 856059 July 1, 2020 to Dec 31, 2020: This subaward is issued by the MI-SBDC Lead Center at Grand Valley State University for the performance for a Scope of Work originally awarded to the Prime recipient. GVSU is the prime recipient of the US Small Business Administration (SBA) Small Business Development Center cooperative agreement to establish a statewide network of a State Lead Center and SBDC Regional Centers. The Regional center housed at Kettering develops and maintains a comprehensive small business assistance program that provides consulting, training and research services to promote business start-up, innovation and expansion. Economic impact success in this time frame: 30 new business starts, 101 new jobs, 605 jobs retained, $11,713,389 in capital formation, $852,523 in increased sales, and no face-to-face attendee training due to the COVID pandemic. All training was conducted through webinars at a statewide level due to the COVID pandemic. Jan 1, 2021 to June 30, 2021: This subaward is issued by the MI-SBDC Lead Center at Grand Valley State University for the performance for a Scope of Work originally awarded to the Prime recipient. GVSU is the prime recipient of the US Small Business Administration (SBA) Small Business Development Center cooperative agreement to establish a statewide network of a State Lead Center and SBDC Regional Centers. The Regional center housed at Kettering develops and maintains a comprehensive small business assistance program that provides consulting, training and research services to promote business start-up, innovation and expansion. Economic impact success in this time frame: 40 new business starts, 534 new jobs, 698 jobs retained, $15,300,563 in capital formation, $0 in increased sales, and no face-to-face attendee training due to the COVID pandemic. All training was conducted through webinars at a statewide level due to the COVID pandemic. 32256583 0 6865200 All other Program Services includes Academic Support, Student Services, Institutional Services, and Auxiliary Services. 32256583 0 6865200 55121749 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 2654 0 1 900 1 1 1 1 CJ JE 0 0 0 1 1 0 0 0 0 0 0 X 25 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X Nancy A Fike 8107629925 1700 University Avenue Flint MI 485046214 Robert K McMahan President 80 X X 717043 0 53909 James Zhang Provost 55 X 292860 0 44867 Thomas W Ayers Treasurer 55 X 277120 0 43998 Susan Davies VP University Advancement & External Relations 55 X 254109 0 41803 Cornelius Darcy VP Marketing, Communication & Enrollment 55 X 238666 0 39123 Christine Wallace Vice President Kettering Global 55 X 217159 0 35477 Craig Hoff Dean of College of Engineering 55 X 187339 0 41261 Kathryn Svinarich Associate Provost 55 X 204384 0 20638 Mehrdad Zadeh Associate Professor Electrical & Computer Eng 55 X 158494 0 42095 Donald Rockwell University Counsel 55 X 166917 0 27045 LB McCune VP Student Affairs 55 X 164747 0 28330 Jane Homsher Special Assistant to the President 55 X 155216 0 24825 Bassem Ramadan Department Head - Mechanical Engineering 55 X 157721 0 21599 Henio R Arcangeli Jr Board Member 2 X 0 0 0 Lizabeth A Ardisana Board Chair 4 X X 0 0 0 Carla J Bailo Board Member 2 X 0 0 0 Jane E Boon Board Secretary 2 X 0 0 0 Walter G Borst Board Vice Chair 2 X X 0 0 0 Donald B Chaffin Board Member 2 X 0 0 0 Bruce D Coventry Board Member 2 X 0 0 0 Gary L Cowger Board Member 2 X 0 0 0 Jacqueline A Dedo Board Member 2 X 0 0 0 Phillip C Dutcher Board Member 2 X 0 0 0 Charles Gray Board Member 2 X 0 0 0 David S Hoyte Board Member 2 X 0 0 0 Gerald Johnson Board Member 2 X 0 0 0 David Kazyak Board Member 2 X 0 0 0 Charles F Kettering III Board Member 2 X 0 0 0 Jesse M Lopez Board Member 2 X 0 0 0 Machelle A McAdory Board Member 2 X 0 0 0 John W Moyer Board Member 2 X 0 0 0 Raj Nair Board Member 2 X 0 0 0 Jeffrey J Owens Board Member 2 X 0 0 0 Raymond E Scott Board Member 2 X 0 0 0 Marjorie Sorge Board Member 2 X 0 0 0 Norman J Szydlowski Board Member 2 X 0 0 0 Diana D Tremblay Board Member 2 X 0 0 0 3191775 0 464970 58 0 1 0 Keypath Education LLC 220 N Smith St 201 Palatine IL 60067 Recruitment Services 2428564 Ruffalo Noel Levitz 1025 Kirkwood Pkwy SW Cedar Rapids IA 52404 Marketing Services 452542 Duffey Petrosky & Company 38505 Country Club Dr Farmington Hills MI 48331 Marketing Services 366950 TargetX 1001 E Hector Street STE 100 Conshohocken PA 19428 CRM Services 147200 Plante Moran PLLC 3000 Town Center Suite 100 Southfield MI 48075 Audit and Tax Services 100460 5 0 0 0 0 3309234 21925167 3327877 25234401 Tuition - Undergraduate 611310 42402003 42402003 0 0 Tuition - Graduate 611310 6169426 6169426 0 0 Research 611310 856059 856059 0 0 International Programs 611310 399809 399809 0 0 Auxiliary Services 611310 2498986 2498986 0 0 0 0 0 0 52326283 3205722 0 183446 3022276 0 0 0 0 0 0 0 0 51795 0 0 0 51795 0 51795 0 0 51795 26767121 0 25228843 0 1538278 0 1538278 0 0 1538278 0 0 82356479 52326283 183446 4612349 X 0 0 3993405 3993405 0 0 0 0 2072157 0 1662239 409918 0 0 0 0 27980705 24614905 2366052 999748 2264593 1869532 284912 110149 5221078 4310255 656873 253950 2109072 1741142 265346 102584 0 0 0 0 105527 71821 33706 0 145450 0 145450 0 0 0 0 0 0 0 125000 0 125000 0 7788806 7163331 395897 229578 97277 92053 5104 120 1704907 1560868 80747 63292 0 0 0 0 0 0 0 0 2264766 1885619 283970 95177 40372 33932 5889 551 0 0 0 0 50078 32701 10537 6840 508750 508750 0 0 0 0 0 0 4374335 3642022 548480 183833 375607 0 375322 285 Equipment 341381 310860 28808 1713 Maintenance 2101820 1668138 345014 88668 Student Clubs 187525 187525 0 0 Miscellaneous 1274445 1243684 4272 26489 281477 191206 90251 20 65408533 55121749 7713869 2572915 0 0 22283937 35716760 2855443 2250402 2430068 1583923 0 0 0 0 0 0 0 0 1953184 1635980 224525265 110410597 88680341 114114668 95702627 77047766 28931663 49090341 0 0 0 0 10388 10388 242847651 281450228 3912525 4513396 0 0 2094565 1772431 39572935 39485337 0 0 0 0 127597 86363 0 0 3177008 3786383 48884630 49643910 X 90100148 93076432 103862873 138729886 193963021 231806318 242847651 281450228 X 16947946 20157658 0 0 0 737693 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 X X X 0 88333064 3600068 22908027 1950019 1813254 125000 110952886 90353355 964724 340938 1505323 1695630 125000 88333064 86552982 2812419 4191380 1473147 1605279 125000 90353355 82614985 1435912 5637810 1413250 1597475 125000 86552982 75431508 972330 9584419 1586845 1661427 125000 82614985 0.11 0.54 0.35 0 0 0 6776277 6776277 0 130732578 79699688 51032890 0 0 0 0 0 23733793 18928938 4804855 0 63282617 11781971 51500646 114114668 Acadian Global Managed Volatility Equity 6080150 F ArcLight Energy Partners VI 1332309 F ArcLight Energy Partners VII 451306 F Arrowgrass International Fund Ltd 534350 F Coatue Growth Fund V 1129049 F Columbia Capital Equity Partners VI (QP) LP 1759728 F EnCap Energy Cap Fund XI LP 642034 F HIG Advantage Buyout Fund 683274 F Henderson Park Real Estate Fund I 2525860 F Marathon Distressed Credit (Europe) Fund 588925 F MB Special Opportunities Fund II 586721 F Oak Hill Capital Partners IV 1527966 F Oak Hill Capital Partners V 694936 F Oak Hill Strategic Capital Credit Fund II 1689966 F Paloma International Limited 2491123 F Parametric Defensive Equity Fund LLC 6294637 F Rimrock High Income Plus (Cayman) Fund Ltd 2252155 F Walton Street RE Fund VIII LP 901362 F Warburg Pincus Global Growth LP 1471584 F Warburg Pincus Private Equity XII LP 2539325 F WCP Real Estate Fund IV LP 1136960 F BNY Mellon - 2020 Bond Proceeds 11776621 F 49090341 Gift Annuities 301839 Asset Retirement Obligation 1571575 Accrued Expenses & Other Liabilities 1912969 3786383 96982453 20157657 0 0 0 20157657 76824796 0 5531683 5531683 82356479 61415127 0 0 0 0 0 61415127 0 3993406 3993406 65408533 Schedule D, Part III, Line 1 The University holds a historical collection with an approximate value of $1,200,000 that has not been capitalized as any proceeds from the sales of items would be reinvested in the collection. Schedule D, Part III, Line 4 Since 1973, GMI and Kettering University have assisted in creating one of the largest automotive archives in the country that attracts researchers from around the globe. They assisted the University in receiving the Charles Kettering Collection, which attracts many researchers, with its hundreds of patents and documents related to the gasoline, Freon, jet fuel, and fast drying paint, to name only a few subject areas. The Frigidaire Collection, another General Motors division, showcases the advancement of refrigeration in the 20th century and highlights the advancement of technology in the home. Additionally, alumni have assisted the University in obtaining the photograph collection of AC Spark Plug, with an estimated collection of 40,000 negatives. Schedule D, Part V, Line 4 The Kettering University Endowment Fund is used for a variety of purposes, including student scholarships, instructional chairs, and support of specific programs. Schedule D, Part XI, Line 4b Grant and scholarship assistance of $3,993,405 netted with tuition revenue in audited financial statements, plus realized gain on investments of $1,538,278. Schedule D, Part XII, Line 4b Grants and Scholarships expense netted with tuition revenue of $3,993,405; rounding $1. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 In public relations releases and interviews with the media, the policy of non-discrimination is made clear. All published recruiting materials for both students and employees carry a statement which declares the institution's policy of non-discrimination. Schedule E, Part I, Line 6 Kettering University receives multiple federal and state grants. Central America and the Caribbean 0 0 Investments 8096643 Europe (including Iceland and Greenland) 0 0 Investments 3114785 Europe (including Iceland and Greenland) 0 1 Program Services Online Instructor 28225 0 1 11239653 1 0 0 1 1 0 1 SEOG Financial Aid 163 305437 0 Donor Restricted Annual Scholarship 112 1737949 0 Endowed Scholarships 632 1950019 0 Schedule I, Part I, Line 2 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 X 1 1 X X X X 0 1 0 0 0 0 0 0 0 Robert K McMahan President 570830 0 100000 0 46213 0 75650 0 28259 0 820952 0 0 0 James Zhang Provost 264278 0 25000 0 3582 0 24376 0 20491 0 337727 0 0 0 Thomas W Ayers Treasurer 246731 0 25000 0 5389 0 22888 0 21110 0 321118 0 0 0 Donald Rockwell University Counsel 164296 0 0 0 2620 0 14515 0 12530 0 193961 0 0 0 Susan Davies VP University Advancement & External Relations 227664 0 15000 0 11445 0 21139 0 20664 0 295912 0 0 0 Cornelius Darcy VP Marketing, Communication & Enrollment 224219 0 10000 0 4447 0 20562 0 18561 0 277789 0 0 0 Christine Wallace Vice President Kettering Global 178362 0 33500 0 5297 0 16544 0 18934 0 252637 0 0 0 LB McCune VP Student Affairs 141201 0 15000 0 8547 0 13085 0 15246 0 193079 0 0 0 Kathryn Svinarich Associate Provost 201820 0 0 0 2564 0 18225 0 2413 0 225022 0 0 0 Craig Hoff Dean of College of Engineering 184773 0 0 0 2566 0 17447 0 23815 0 228601 0 0 0 Bassem Ramadan Department Head - Mechanical Engineering 156416 0 0 0 1305 0 14141 0 7459 0 179321 0 0 0 Mehrdad Zadeh Associate Professor Electrical & Computer Eng 157020 0 0 0 1475 0 11532 0 30563 0 200590 0 0 0 Jane Homsher Special Assistant to the President 151641 0 0 0 3575 0 14031 0 10794 0 180041 0 0 0 Schedule J, Part I, Line 1a Residence is provided to the President in which he is required by the Board of Trustees to reside as a condition of employment. Schedule J, Part I, Line 4 President McMahan participates in a deferred compensation plan, upon which payment is contingent on meeting contractual conditions authorized by the Board of Trustees. This deferred compensation is reported on Schedule J Part II line 1 column C. Schedule J, Part I, Line 7 Performance bonuses paid to employees listed in Schedule J, Part II, Column B(ii). Schedule J, Part II Amount shown is performance based bonus paid to President Robert K. McMahan as solely determined by the Board of Trustees. Schedule J, Part II, Line 1, Column C - Amount shown includes $50,000 allowance for deferred compensation that will not be received by President Robert K. McMahan until a future year, contingent on contractual conditions authorized by the Board of Trustees being met. Schedule J, Part II, Line 1, Column D - $36,515 representing the estimated benefit value of the President's House in which the President is required by the Board of Trustees to reside as a condition of employment and is required to be reported as a non-taxable benefit on this schedule. A Michigan Finance Authority 800596186 594479FQ5 2020-06-30 40002602 Provide funds to refund a prior issue; capital projects 0 0 0 A 0 16485000 40002602 0 1583633 14973410 429667 0 0 0 1857084 23016031 2022 1 0 0 1 A 0 0 0 A 0 1 0 0 0 0 0 0 1 A 1 X 23 1155077 FMV X Equipment 1 48000 FMV X Software 1 2124800 FMV 0 0 1 0 Form 990, Part VI, Section B, Line 11b Kettering University reviews the completed Form 990 with the Committee for Audit and Compliance and provides an electronic copy to all Board of Trustee members prior to filing with the IRS. Form 990, Part VI, Section B, Line 12c The Conflict of Interest and Conflict of Commitment disclosures form is required to be completed by all full-time employees and trustees annually and then subsequently updated when a change occurs relative to the information most recently provided. Completed disclosure forms submitted by faculty and staff are reviewed by Human Resources and trustees by the President's Office. Form 990, Part VI, Section B, Line 15 The Board of Trustees hired a search firm to conduct the Presidential search. Benchmarking and market data was used to determine the compensation package offered and contract renewals. All increases to compensation are reviewed and approved by the Executive Committee and the Board of Trustees. Form 990, Part VI, Section C, Line 19 Kettering University's governing documents and conflict of interest policy (code of ethics) are available for public inspection in the Office of Administration and Finance. Form 990, Part IX, Line 11g Contracted Services $5,415,010; Kettering University online service firm $2,250,532; Miscellaneous $123,264. Form 990, Part XI, Line 9 Change in fair value - beneficial interest trusts.