2021-05-11T13:02:22-05:00 2020-06-30 BKD LLP 200 E Main St Suite 700 Fort Wayne IN 46802 990 2019-07-01 381367080 AQUINAS COLLEGE % LISA VANDEWEERT AQUI 6166328900 1700 FULTON STREET EAST GRAND RAPIDS MI 495061801 LISA VANDEWEERT VP FINANCE/CFO 2021-05-15 true Lauren R Denton P01571860 2604604000 2019 2022-09-23 18:48:47Z KEVIN QUINN 1700 FULTON STREET EAST GRAND RAPIDS MI 495061801 75116264 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. 14 13 1183 12 144719 104207 3715076 8069216 53016819 48764786 1950669 879679 170169 148190 58852733 57861871 24454808 23485802 0 0 21444068 21927896 0 95050 1129827 16312620 16090331 62211496 61599079 -3358763 -3737208 132164257 134653902 37576771 43071635 94587486 91582267 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 51899107 23485802 48615546 AQUINAS COLLEGE SERVES 1,456 UNDERGRADUATE AND 144 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. 51899107 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 true true true true false false false false false true false true true false false false false false false false false false false true 2397 0 1183 true true true true EI false false false true true false false false false false false X 14 13 false false false false false true true true true false false false true true true false false true true false MI X LISA VANDEWEERT 6166322885 1700 FULTON STREET EAST GRAND RAPIDS MI 495061801 KEVIN QUINN PRESIDENT 40.0 0.0 X 265948 0 30900 LISA VANDEWEERT VP FOR FINANCE/CFO 40.0 0.0 X 144433 0 27496 SUSAN ENGLISH SCHOOL OF EDUCATION DEAN 40.0 0.0 X 121936 0 27199 ERIN CRAIG VP FOR ENROLLMENT MANAGEMENT 40.0 0.0 X 102045 0 7698 MATT WEY CHAIR 0.6 0.0 X X 0 0 0 MARCIE HILLARY VICE 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 EVA AGUIRRE COOPER TRUSTEE 0.6 0.0 X 0 0 0 SANDRA DELGADO TRUSTEE 0.6 0.0 X 0 0 0 DENNIS ECHELBARGER 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 TRUSTEE 0.6 0.0 X 0 0 0 634362 0 93293 4 false true false PIONEER GENERAL CONTRACTORS 550 KIRTLAND ST SW GRAND RAPIDS MI 49507 CONSTRUCTION 5662692 CREATIVE DINING SERVICES ONE ROYAL PART DRIVE ZEELAND MI 49464 DINING SERVICES 1438062 ELLUCIAN COMPANY LP 62578 COLLECTIONS CENTER DR CHICAGO IL 60693 INFORMATION TECH 728928 SHAW CONTRACT FLOORING SERVICES INC 185 S INDUSTRIAL BOULEVARD CALHOUN GA 30701 CONSTRUCTION 295151 CUSTER INC 217 GRANDVILLE AVE SW 100 GRAND RAPIDS MI 49503 CONSTRUCTION 462987 17 109635 2059879 5899702 8069216 TUITION AND FEES 611310 43574557 43574557 AUXILIARY SERVICES 611710 4677112 4677112 OTHER REVENUE 900099 513117 363877 149240 48764786 1138347 -4521 1142868 0 0 173037 173037 0 173037 173037 16947301 725 17206695 -259394 725 -258668 -258668 22851 109635 47698 -24847 -24847 0 0 0 0 0 0 0 57861871 48615546 144719 1032390 13500 13500 22252623 22252623 1219679 1219679 0 454583 454583 0 16565113 13224044 2771232 569837 351192 269402 70419 11371 3436048 1861078 1502272 72698 1120960 876318 205399 39243 0 169062 169062 43000 43000 0 95050 95050 278409 278409 2928281 1892934 958073 77274 594726 322493 234017 38216 229280 125460 70394 33426 1533208 982063 474099 77046 0 1699212 1467042 232170 2468577 2279408 113823 75346 0 0 1018891 773214 245677 0 3565773 3430224 135549 280117 280117 SUPPLIES 813838 691307 112322 10209 OTHER 467957 218318 219528 30111 61599079 51899107 8570145 1129827 230 630 2333486 4154503 3736849 4751248 1473633 929947 0 0 0 0 0 0 0 0 336663 37243 128633652 53696539 71507523 74937113 42569960 39767488 0 0 0 0 0 0 10205913 10075730 132164257 134653902 7814657 6150248 0 0 261412 3851227 16538568 15886084 0 0 0 0 10295514 13992514 0 0 2666620 3191562 37576771 43071635 X 40592875 41912696 53994611 49669571 94587486 91582267 132164257 134653902 X -3737208 618393 113596 X X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 38297011 715474 679103 740100 519167 38432321 38958461 691765 1949936 745000 2558151 38297011 35224095 2878052 2495672 674900 964458 38958461 31025646 918214 3614855 724200 34834515 31429118 358088 -69601 594200 97759 31025646 0.85329 0.14671 true false 2483678 2483678 84633070 25361501 59271569 19902665 10822545 9080120 18039339 14285648 3753691 3574900 3226845 348055 74937113 CASH VALUE OF LIFE INSURANCE 22402 STUDENT LOANS RECEIVABLE 78870 BENEFICIAL INTEREST IN TRUSTS 9974458 10075730 0 AGREEMENT 6742 STUDENT AND OTHER DEPOSITS 1091787 REFUNDABLE PERKINS LOAN ADVANCES 78870 FUNDS HELD IN TRUST FOR OTHERS 24968 DERIVATIVE LIABILITY 1165930 CAPITALIZED LEASE OBLIGATIONS 823265 3191562 34890847 618393 319045 937438 33953409 278409 23630053 23908462 57861871 37896066 47698 47698 37848368 278409 23472302 23750711 61599079 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 $ 271,347 FUNDRAISING EXPENSES $ 47,698 TOTAL $ 319,045 PART XI, LINE 4B CHANGE IN CASH VALUE OF LIFE INSURANCE $ 2,085 INTEREST RATE SWAP VALUATION $ 155,666 STUDENT AID $23,472,302 TOTAL $23,630,053 PART XII, LINE 2D FUNDRAISING EXPENSES $ 47,698 PART XII, LINE 4B STUDENT AID $23,472,302 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 EUROPE PROGRAM SERVICES STUDY ABROAD 419547 SOUTH AMERICA PROGRAM SERVICES STUDY ABROAD 1000 EAST ASIA AND THE PACIFIC PROGRAM SERVICES SCHOLARSHIPS 184262 NORTH AMERICA PROGRAM SERVICES SCHOLARSHIPS 130512 RUSSIA/NEWLY INDEPENDENT STATES PROGRAM SERVICES SCHOLARSHIPS 24200 SOUTH AMERICA PROGRAM SERVICES SCHOLARSHIPS 86378 SUB-SAHARAN AFRICA PROGRAM SERVICES SCHOLARSHIPS 51672 CENTRAL AMERICA/THE CARIBBEAN INVESTMENTS 2621439 EUROPE PROGRAM SERVICES SCHOLARSHIPS 722629 SOUTH ASIA PROGRAM SERVICES SCHOLARSHIPS 20026 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES STUDY ABROAD 9847 EAST ASIA AND THE PACIFIC PROGRAM SERVICES STUDY ABROAD 10460 4281972 4281972 SCHOLARSHIPS East Asia and the Pacific 8 184262 TUITION DISC SCHOLARSHIPS Europe (Including Iceland and Greenland) 25 722629 TUITION DISC SCHOLARSHIPS North America 6 130512 TUITION DISC SCHOLARSHIPS Russia and the Newly Independent States 1 24200 TUITION DISC SCHOLARSHIPS South America 4 86378 TUITION DISC SCHOLARSHIPS South Asia 1 20026 TUITION DISC SCHOLARSHIPS Sub-Saharan Africa 3 51672 TUITION DISC false false false false false true X X X X X X X true THE BRETON GROUP STAFF TRAIN false 88250 J MILITO ASSOCIATES INC STAFF TRAIN false 0 6800 0 95050 CELEBRATION OF 91836 71585 20251 15669 27150 EMERITUS EVENIN 22325 21725 600 4879 1 18325 16325 2000 132486 109635 22851 15669 32029 47698 -24847 true DOMINICAN SISTERS 2025 FULTON ST E GRAND RAPIDS MI 49503 381360581 501(C)(3) 6000 SUPPORT GRAND VALLEY STATE UNIVERSITY 1030 JHZ 1 CAMPUS DRIVE ALLENDALE MI 49401 381684280 501(C)(3) 7500 SUPPORT 2 SCHOLARSHIPS 1477 23472302 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 265948 0 0 0 0 0 8250 0 22650 0 296848 0 LISA VANDEWEERT VP FOR FINANCE/CFO 144433 0 0 0 0 0 4563 0 22933 0 171929 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 655000 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 150000 false false true 150000 SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 462987 OFFICE FURNITURE 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 2020. 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 $ 271,347 CHANGE IN CASH VALUE OF LIFE INSURANCE $ ( 2,085) INTEREST RATE SWAP VALUATION $ (155,666) TOTAL $ 113,596