2021-03-02T12:18:31-06:00 2020-06-30 BKD LLP 200 E Main St Suite 700 Fort Wayne IN 46802 990 2019-07-01 350845258 INDIANA INSTITUTE OF TECHNOLOGY INC % SHELLY MUSOLF INDI 2604425561 1600 EAST WASHINGTON BLVD FORT WAYNE IN 46803 JUDY K ROY TREASURER 2604225561 2021-05-17 true Lauren R Denton P01571860 2604604000 2019 2022-09-23 18:48:47Z INDIANA TECH KARL W EINOLF 1600 E WASHINGTON BLVD FORT WAYNE IN 46803 104526061 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. 18 16 1269 50 159957 0 10130492 12805995 85930219 80565323 5902301 3762405 163227 216094 102126239 97349817 31145996 32717483 0 0 32757518 31055619 102348 209941 1195732 29732206 29593435 93738068 93576478 8388171 3773339 276713412 274881086 35977639 33337638 240735773 241543448 X 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 1,600 STUDENTS ARE ENROLLED IN THE TRADITIONAL DAY SCHOOL, AND THE COLLEGE OF PROFESSIONAL STUDIES HAS ABOUT 7,000 STUDENTS ENROLLED. false false 76741853 32717483 80405366 TO INSTRUCT STUDENTS IN ORDER TO PREPARE THEM FOR SUCCESSFUL CAREERS IN BUSINESS AND INDUSTRY. THE COLLEGE DEVELOPS AND OFFERS INNOVATIVE PROGRAMS TO MEET THE BROAD EDUCATIONAL AND EMPLOYMENT NEEDS OF THE COMMUNITY FOCUSING ON THE DEGREE PROGRAMS IN BUSINESS, COMPUTER STUDIES AND ENGINEERING. TO CONTRIBUTE TO THE STUDENTS' EMOTIONAL AND PHYSICAL WELL-BEING AND TO THEIR INTELLECTUAL, CULTURAL AND SOCIAL DEVELOPMENT OUTSIDE OF THE CONTEXT OF THE FORMAL INSTRUCTION PROGRAMS. THIS INCLUDES THE OFFICES OF RECRUITMENT, INTRAMURAL AND INTERCOLLEGIATE ATHLETICS AND CAREER GUIDANCE. 76741853 true true false 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 true false false false false true false false false true 177 0 1269 true true true false false false false true true false false false false false false X 18 16 false false false false false false false true true false false true true true true true true true true false IN X SHELLY MUSOLF 2604225561 1600 E WASHINGTON BLVD FORT WAYNE IN 46803 KARL W EINOLF PRESIDENT 45.0 0.0 X X 449797 0 70010 JUDY K ROY TREASURER 45.0 0.0 X 223340 0 46324 STEVEN A HERENDEEN VP ENROLLMENT MANAGEMENT 45.0 0.0 X 190069 0 54435 THOMAS E KAPLAN VP ACADEMIC AFFAIRS 45.0 0.0 X 166234 0 51638 DANIEL GRIGG VP INSTITUTIONAL ADVANCEMENT 45.0 0.0 X 178854 0 29013 STEPHEN P DUSSEAU PROFESSOR 45.0 0.0 X 152359 0 39973 JEFFERY L WALLS PROFESSOR 45.0 0.0 X 135294 0 38226 MARGARET A CANALES PROFESSOR 45.0 0.0 X 139055 0 31405 DANIEL J STOKER VP STUDENT AFFAIRS 45.0 0.0 X 141312 0 24261 MICHELLE R MUSOLF CONTROLLER 45.0 0.0 X 126359 0 33140 SHERRILL L HAMMAN FACULTY REPRESENTATIVE 45.0 0.0 X 87723 0 15205 GREGG C SENGSTACK TRUSTEE 1.0 0.0 X 0 0 0 RICHARD J SCHUL TRUSTEE 1.0 0.0 X 0 0 0 CHERI A BECKER TRUSTEE 1.0 0.0 X 0 0 0 JEFFERY A BENZING TURSTEE 1.0 0.0 X 0 0 0 MICHAEL CAHILL TRUSTEE 1.0 0.0 X 0 0 0 WILLIAM DAUGHERTY TRUSTEE 1.0 0.0 X 0 0 0 WENDY W DAVIS TRUSTEE 1.0 0.0 X 0 0 0 DENA M JACQUAY TRUSTEE 1.0 0.0 X 0 0 0 JOSEPH JORDAN TRUSTEE 1.0 0.0 X 0 0 0 ANTHONY JULIANO ALUMNI REPRESENTATIVE 1.0 0.0 X 0 0 0 DAVID J NASH TRUSTEE 1.0 0.0 X 0 0 0 D GEOFFREY PADDOCK TRUSTEE 1.0 0.0 X 0 0 0 MANUAL PENA-MORROS TRUSTEE 1.0 0.0 X 0 0 0 ARNOLD O PIERSON TRUSTEE 1.0 0.0 X 0 0 0 RAVI R TALWAR TRUSTEE 1.0 0.0 X 0 0 0 MICHAEL H WOOD TRUSTEE 1.0 0.0 X 0 0 0 1990396 0 433630 33 false true false ASHER AGENCY INC 535 W WAYNE ST FORT WAYNE IN 46802 ADVERSTISING 2849465 ELAVATUS ARCHITECTURE 111 E WAYNE ST SUITE 555 FORT WAYNE IN 46802 ARCHITECTURAL SVCS 565906 SECURITAS SECURITY SERVICES INC 2 CAMPUS DRIVE PAPSIPPANY NH 07054 SECURITY SERVICES 563993 MY FOOTPATH LLC 820 W JACKSON CHICAGO IL 60607 STUDENT RECRUITING 563306 JL SMITH GROUP INC PO BOX 1197 AUBURN AL 36831 FUNDRAISING CONSULT 373653 9 14535 9609 9946157 2835694 113498 12805995 TUITION & FEES 611710 74585927 74585927 RESIDENCE HALLS 611710 5620613 5620613 MISCELLANEOUS 611710 358783 198826 159957 80565323 4424791 4424791 0 0 14355 14355 0 0 0 6371330 7033716 -662386 -662386 -662386 14002 14535 14002 0 0 0 320246 114171 206075 206075 VENDING COMMISSION 611710 4781 4781 WELLNESS CENTER 611710 5238 5238 10019 97349817 80405366 159957 3978499 0 32717483 32717483 0 0 1296017 87723 1029440 178854 0 23796774 19022234 4305636 468904 1840649 1471345 333035 36269 2301616 1839824 416440 45352 1820563 1455289 329401 35873 0 77870 77870 103176 103176 0 209941 209941 652247 652247 4166192 3024655 1141537 4012956 222258 3761185 29513 399591 341833 53063 4695 1450607 131275 1319332 0 3674446 3395009 277419 2018 545647 271761 183995 89891 0 195370 128921 62842 3607 823259 784583 38676 0 5617295 5379928 237367 438115 438115 BAD DEBTS 1975860 1975860 SUPPLIES 1630977 1404755 225528 694 STUDENT SUPPORT 599270 588602 1464 9204 ATHLETIC PROGRAMS 1928037 1928037 1302520 570478 651125 80917 93576478 76741853 15638893 1195732 5250 5300 16407636 10106695 2227365 2656187 1742692 1780678 0 0 0 0 0 0 927938 841503 889124 1727503 175515044 55035541 117295665 120479503 136020696 136270449 0 0 0 0 0 0 1197046 1013268 276713412 274881086 5309309 4167544 0 0 1328415 1330742 28776092 27787349 0 0 0 0 0 0 0 0 563823 52003 35977639 33337638 X 219216972 217937723 21518801 23605725 240735773 241543448 276713412 274881086 X 3773339 -2971742 6078 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 658745 X false 137039068 943283 721566 766299 102531 189127 137645960 131111439 910934 6769346 800612 334686 617353 137039068 123181930 1324936 8119388 733010 336029 445776 131111439 102652574 11162405 10793914 745496 367045 314422 123181930 96052710 11203440 -3159784 709540 378751 355501 102652574 0.85000 0.11000 0.04000 false false 23457046 23457046 119241358 32905671 86335687 31589187 22129870 9459317 1227453 1227453 120479503 0 DEPOSIT FUNDS HELD FOR OTHERS 52003 52003 63242390 -2971742 148606 -2823136 66065526 31284291 31284291 97349817 62434715 142528 142528 62292187 31284291 31284291 93576478 SCHEDULE D, PART III, LINE 4 THE UNIVERSALITY ART GALLERY, FRANCO D'AGOSTINO ART GALLERY, HOLD WORKS OF ARTS 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 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 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 RECONCILIATION PART XI, LINE 2D COST OF GOODS SOLD $ 114,171 SPECIAL EVENTS EXPENSE $ 14,002 RENT EXPENSE $ 14,355 CHANGE IN VALUE OF PERPETUAL TRUST $ 6,078 TOTAL $ 148,606 PART XI, LINE 4B STUDENT AID $ 31,284,291 TOTAL $ 31,284,291 PART XII, LINE 2D COST OF GOODS SOLD $ 114,171 SPECIAL EVENTS EXPENSE $ 14,002 RENT EXPENSE $ 14,355 TOTAL $ 142,528 PART XII, LINE 4B STUDENT AID $ 31,284,291 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. 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 RACIALLY NONDISCRIMINATORY POLICY IS PUBLICIZED ON THE UNIVERSITY'S WEBSITE AND IN THE STUDENT HANDBOOK. SCHEDULE E, PART I, LINE 6A INDIANA INSTITUTE OF TECHNOLOGY, INC. RECEIVED FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENTAL AGENCY IN THE FORM OF GRANTS AND PERKINS LOANS. true South Asia 4 PROGRAM SERVICES STUDENT RECRUITMENT 26500 4 4 26500 26500 false false false false false false X X X X X X X true J F SMITH GROUP INC CONSULTING false 209941 209941 IN GOLF OUTING 28537 14535 14002 1847 11249 906 0 28537 14535 14002 1847 11249 906 14002 true SCHOLARSHIPS FOR TUITION & FEES 7462 31284291 HEERF FUNDS 2305 1433192 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 true true X X X X X false true false false false false false false false KARL W EINOLF PRESIDENT 363258 0 36050 0 50489 0 53000 0 17010 0 519807 0 JUDY K ROY TREASURER 222038 0 0 0 1302 0 23189 0 23135 0 269664 0 STEPHEN P DUSSEAU PROFESSOR 151902 0 0 0 457 0 10062 0 29911 0 192332 0 MARGARET A CANALES PROFESSOR 138402 0 0 0 653 0 9572 0 21833 0 170460 0 DANIEL J STOKER VP STUDENT AFFAIRS 140777 0 0 0 535 0 13972 0 10289 0 165573 0 JEFFERY L WALLS PROFESSOR 134351 0 0 0 943 0 9802 0 28424 0 173520 0 MICHELLE R MUSOLF CONTROLLER 125786 0 0 0 573 0 12027 0 21113 0 159499 0 STEVEN A HERENDEEN VP ENROLLMENT MANAGEMENT 186765 0 0 0 3304 0 19750 0 34685 0 244504 0 THOMAS E KAPLAN VP ACADEMIC AFFAIRS 164891 0 0 0 1343 0 17298 0 34340 0 217872 0 DANIEL GRIGG VP INSTITUTIONAL ADVANCEMENT 173647 0 0 0 5207 0 18180 0 10833 0 207867 0 SCHEDULE J, PART I, LINE 1A 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 4C DR. EINOLF HAS A DEFERRED COMPENSATION PLAN AS DESCRIBED IN SECTION 457(F). THERE WAS A $25,000 CONTRIBUTION FOR TAX YEAR ENDED 6/30/2020. THE PRESIDENT RECEIVED A PAYOUT PAYMENT FROM THE 457F PLAN ON 6/30/2020. THIS AMOUNT WAS REPORTED ON THE 2020 W-2 AND THREFORE WILL BE REPORTED ON THE 2020 FORM 990. A INDIANA FINANCE AUTHORITY 351602316 2018-12-02 29045000 CAPITAL PROJECTS & PARTIAL REFINAN false false false A 1005000 0 29045000 0 0 1659894 285106 0 0 27100000 0 0 2021 true true false true A false false false false 0 false false false true A true false false 0 false 0 false true A true X 1 113498 FAIR MARKET VALUE false true false FORM 990, PART VI, SECTION B, LINE 1B KARL W. EINOLF AND SHERRILL L. HAMMAN ARE PAID EMPLOYEES OF INDIANA INSTITUTE OF TECHNOLOGY AND ARE THEREFORE CONSIDERED NON-INDEPENDENT VOTING MEMBERS OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B AN INDEPENDENT CPA FIRM COMPILES INFORMATION FOR THE FORM 990 AND RELATED SCHEDULES USING INFORMATION PROVIDED BY THE ORGANIZATION. THE CPA FIRM PERFORMS A DETAILED REVIEW OF FORM 990 AND RELATED SCHEDULES. THE FORM AND RELATED SCHEDULES ARE PROVIDED TO ALL BOARD MEMBERS FOR THEIR REVIEW. AFTER BOARD APPROVAL, FORM 990 AND SCHEDULES ARE FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C 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, SECTION B, LINE 15A & 15B 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, SECTION C, LINE 19 THE FORM 990, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE ALL AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9 CHANGE IN VALUE OF PERPETUAL TRUST $6,078 INDEPENDENT COLLEGES OF INDIANA 30 SOUTH MERIDIAN INDIANAPOLIS IN 46204 310901001 EDUCATION IN 503(C)(3) 12A NA false false false true false false false false false false false false false false false false false false false false