2022-02-11T09:45:52-06:00 2021-06-30 BKD LLP 200 E Main St Suite 700 Fort Wayne IN 46802 990 2020-07-01 381459365 OLIVET COLLEGE % MARK DERUITER OLIV 8004567189 320 SOUTH MAIN STREET OLIVET MI 49076 MARK DERUITER VICE PRESIDENT/CFO 8004567189 2022-05-15 true MARK DERUITER 999009999 Lauren R Denton P01571860 2604604000 3 2020 2022-09-23 18:48:47Z MARK DERUITER 320 SOUTH MAIN STREET OLIVET MI 49076 46747675 false X WWW.OLIVETCOLLEGE.EDU X 1920 MI TO PROVIDE A LIBERAL ARTS EDUCATION. 29 29 529 29 12250 0 1246096 4107011 35779614 33909330 775055 2750607 102698 -9894 37903463 40757054 16111298 16403634 0 0 12231073 12461255 36667 0 768106 10403869 10502849 38782907 39367738 -879444 1389316 58476879 61240143 15202873 12870417 43274006 48369726 X TO PROVIDE A UNIQUE LIBERAL ARTS EDUCATION ALLOWING STUDENTS TO ENGAGE IN BOTH CURRICULAR AND CO-CURRICULAR PROGRAMS THAT COMBINE REAL WORLD EXPERIENCES WITH LECTURES AND SERVICE LEARNING. false false 16403634 16403634 FINANCIAL AID IN VARIOUS FORMS TO ASSIST INDIVIDUALS IN FINANCING THEIR UNDERGRAUATE EDUCATION. 951 STUDENTS BENEFITTED. 9143273 6235212 AUXILIARY- ROOM, BOARD, ATHLETICS AND BOOKSTORE FOR STUDENTS OBTAINING THEIR UNDERGRADUATE EDUCATION. 6675037 27219484 INSTRUCTION AND RELATED SUPPORT- PROVIDING A LIBERAL ARTS UNDERGRADUATE EDUCATION. 1011 UNDERGRADUATE STUDENTS ENROLLED IN FISCAL YEAR 2020-2021. 3075894 435546 STUDENT SERVICES- ASSISTS STUDENTS AND PARENTS IN NAVIGATING THE WORLD OF COLLEGE FINANCES AND COURSEWORK. 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40.0 0.0 X 109942 0 19058 DELSTENE ATKINSON INTERIM VP FOR ADVANCEMENT 40.0 0.0 X 99373 0 15644 RYAN SHOCKEY VP AND CHIEF OF STAFF 40.0 0.0 X 82395 0 17975 MARK DERUITER VP/CFO 40.0 0.0 X 89293 0 9515 G ASENATH ANDREWS TRUSTEE 0.5 0.0 X 0 0 0 DR CRAIG BAILEY TRUSTEE 2.0 0.0 X 0 0 0 THOMAS BRENNAN JR TRUSTEE 2.5 0.0 X 0 0 0 THOMAS BURKE TRUSTEE 2.0 0.0 X 0 0 0 JASON CONKIN TRUSTEE 2.0 0.0 X 0 0 0 MIKE DIETERLE TRUSTEE 2.0 0.0 X 0 0 0 DR MARGARET DIMOND TRUSTEE 2.0 0.0 X 0 0 0 DR MELANIE ENGELS TRUSTEE 0.5 0.0 X 0 0 0 JAMEY FITZPATRICK TRUSTEE 2.0 0.0 X 0 0 0 DAVID HATHAWAY TRUSTEE 2.0 0.0 X 0 0 0 ROD HATHAWAY TRUSTEE 2.0 0.0 X 0 0 0 PAMELA HEOS TRUSTEE 2.0 0.0 X 0 0 0 DR SHARON HOBBS TRUSTEE 2.0 0.0 X 0 0 0 DR TIMOTHY HODGE TRUSTEE 2.0 0.0 X 0 0 0 DENISE P HOOD TRUSTEE 2.0 0.0 X 0 0 0 DR AJ JONES TRUSTEE 2.0 0.0 X 0 0 0 JOHN JONES TRUSTEE 2.0 0.0 X 0 0 0 PAUL KENNEDY TRUSTEE 2.0 0.0 X 0 0 0 DR JUSTIN KLAMERUS TRUSTEE 2.0 0.0 X 0 0 0 THOMAS E KOLASSA CHAIR 2.5 0.0 X X 0 0 0 DAVID 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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 THE INTENT OF THE COLLEGE IS TO USE THE INCOME AND A PORTION OF THE APPRECIATION OF THE ENDOWMENT FUNDS TO SUPPORT THE PROGRAMS OF THE COLLEGE. DONORS HAVE RESTRICTED MUCH OF THE ENDOWMENT TO SUPPORT SPECIFIC PROGRAMS, AND THE COLLEGE HONORS SUCH RESTRICTIONS. THE LARGEST RESTRICTED FUNDS ARE FOR SCHOLARSHIPS. SCHEDULE D, PART XI, LINE 2D CAHNGE IN VALUE OF SPLIT INTEREST AGREEMENTS $ 960,714 NET ASSETS RELEASED FROM RESTRICTIONS $ 189,936 COST OF GOODS SOLD $ 91,368 FUNDRAISING EXPENSE RECLASS $ 4,857 TOTAL $ 1,246,875 SCHEDULE D, PART XI & XII, LINE 4B STUDENT AID RECLASS $16,403,634 SCHEDULE D, PART XII, LINE 2D COST OF GOODS SOLD $ 91,368 FUNDRASING EXPENSE RECLASS $ 4,857 TOTAL $ 96,225 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 OLIVET COLLEGE MISSION STATEMENT INCLUDES A NON-DISCRIMINATORY POLICY. THIS MISSION STATEMENT IS SENT TO ALL PROSPECTIVE/CURRENT STUDENTS AND IS READILY AVAILABLE THROUGH THE ADMSSIONS PROCESS. IT IS AVAILABLE ON PAGES 120-123 OF THE STUDENT HANDBOOK ARE LOCATED AT OLIVETCOLLEGE.EDU. SCHEDULE E, PART I, LINE 6A HIGHER EDUCATION EMERGENCY GRANTS - CORONAVIRUS RESPONSE AND RELIEF SUPPLEMENTAL APPROPRIATIONS ACT, 2021 (CRRSAA) AND AMERICAN RESCUE PLAN ACT OF 2021 (ARP). true FINANCIAL AID AND SCHOLARSHIPS 951 16403634 PART I, LINE 2 FINANCIAL AID AND SCHOLARSHIPS ARE FOR OLIVET COLLEGE STUDENTS ENROLLED AND ATTENDING CLASSES. RECIPIENTS ARE SELECTED BASED ON ESTABLISTED MERIT AND NEED BASED CRITERIA. FINANCIAL AID AND SCHOLARSHIPS ARE MONITORED FOR APPROPRIATE USE BY VALIDATING REGISTRATION AND SATISFACTORY PROGRESS TOWARDS COMPLETION OF EDUCATIONAL REQUIREMENTS. INDEPENDENT AUDITORS REVIEW ACCURACY OF FINANCIAL AID AWARDS AND RECIPIENTS' RECORDS. ALL RECORDS ARE RETAINED BY THE COLLEGE. X X true true X X X false false false false false false false false false DR STEVEN COREY PRESIDENT 271269 0 0 0 4327 0 10264 0 19624 0 305484 0 SCHEDULE J, PART I, LINE 1A DR. STEVEN M. COREY RECEIVES COMPENSATION FOR RESIDENCE THAT IS PERSONAL USE & COUNTRY CLUB DUES. THESE ITEMS ARE NON-TAXABLE. X 3 249342 FMV false true false PART I, LINE 9, COLUMN B COLUMN B REFERS TO THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS RECEIVED BY THE CFO FROM THE THIRD-PARTY PREPARER AND IT IS REVIEWED AND DISCUSSED WITH THE PRESIDENT. A COPY OF THE 990 IS MADE AVAILABLE BY E-MAIL TO THE RESOURCES COMMITTEE WITH AN OPPORTUNITY FOR COMMENTS OR QUESTIONS. THE BOARD OF TRUSTEES HAS DELEGATED AUTHORITY AND RESPONSIBILITY FOR APPROVING THE 990 TO THE RESOURCES COMMITTEE OF THE BOARD. THE 990 IS REVIEWED BY THE RESOURCES COMMITTEE AND IS DISCUSSED AT A RESOURCES COMMITTEE MEETING. AFTER REVIEW AND APPROVAL BY THE RESOURCES COMMITTEE, THE 990 IS PROVIDED TO THE FULL BOARD AND FILED. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, IN OCTOBER, EACH TRUSTEE IS REQUIRED TO COMPLETE FORMS DISCLOSING ANY CONFLICT OR POTENTIAL CONFLICT. THE FORMS ARE REVIEWED BY THE ASSISTANT TO THE PRESIDENT. ANY DISCLOSED CONFLICT OR POTENTIAL CONFLICT IS THEN REPORTED TO THE PRESIDENT AND THE CHAIR OF THE BOARD OF TRUSTEES. THE POLICY ALSO REQUIRES TRUSTEES TO DISCLOSE CONFLICTS OR POTENTIAL CONFLICTS AT THE EARLIEST PRACTICAL TIME. FORM 990, PART VI, SECTION B, LINE 15A THE PROCESS FOR DETERMINING COMPENSATION OF THE PRESIDENT OF THE UNIVERSITY IS COMPLETED PERIODICALLY. THE CHAIR OF THE BOARD GATHERS COMPARABLE DATA FROM LIKE INSTITUTIONS. THE DATA IS REVIEWED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. THEY THEN APPROVE PERFORMANCE AND COMPENSATION FOR THE PRESIDENT. FORM 990, PART VI, SECTION B, LINE 15B THE HUMAN RESOURCE DEPARTMENT DOES BENCHMARKING STUDIES OF ALL POSITIONS USING INDUSTRY DATA OF SIMILAR SIZED INSTITUTIONS. THESE BENCHMARKS ARE USED ALONG WITH EMPLOYEE EVALUATIONS TO DETERMINE COMPENSATION OF ALL STAFF INCLUDING OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 ALL INFORMATION IS AVAILABLE UPON REQUEST. FORM 990 IS ALSO POSTED ANNUALLY ON GUIDESTAR'S WEBSITE. THE 990 IS PUBLIC INFORMATION THROUGH THE MICHIGAN ATTORNEY GENERAL'S OFFICE. FORM 990, PART XI, LINE 9 CHANGE IN VALUATION OF SPLIT-INTEREST AGREEMENTS $ 960,714 NET ASSETS RELEASED FROM RESTRICTIONS $ 189,936 TOTAL $1,150,650 RED AND WHITE HOSPITALITY LLC 320 SOUTH MAIN STREET OLIVET MI 49076 831827104 HOSPITALITY MI 12250 2994 OLIVET COL