2020-05-08T09:31:57-05:00 2019-06-30 BKD LLP 200 E Main St Suite 700 Fort Wayne IN 46802 990 2018-07-01 381367080 AQUINAS COLLEGE % LISA VANDEWEERT AQUI 6166328900 1700 FULTON STREET EAST GRAND RAPIDS MI 495061801 LISA VANDEWEERT VP FINANCE/CFO 2019-11-15 true Lauren R Denton P01571860 2604604000 167.68.126.162 35027420201295000003 2020-05-08 P C9F2138D12F7D343057C8214CDBDB0735A7DCED9 25E9B303A56A0274D6E2F2256A0CAB7F3BE98F83 2018 2020-09-23 17:36:50Z KEVIN QUINN 1700 FULTON STREET EAST GRAND RAPIDS MI 495061801 72117175 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 14 1263 12 176809 115968 10526952 3715076 51373420 53016819 2160603 1950669 862670 170169 64923645 58852733 25432300 24454808 0 0 19166714 21444068 0 0 1217539 16840530 16312620 61439544 62211496 3484101 -3358763 125363978 132164257 28632424 37576771 96731554 94587486 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 52536640 24448808 53016819 AQUINAS COLLEGE SERVES 1,582 UNDERGRADUATE AND 180 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. 52536640 true true false false false false false false false true true false false true true false true false true false true false true false true false false true true true true false false false false false false false false true false true true false false false false false false false true 2218 0 1263 true true true true EI false false false true true false false false false false false X 14 14 false false false false false true true true true false false false true true true false false true true false X LISA VANDEWEERT 6166322885 1700 FULTON STREET EAST GRAND RAPIDS MI 495061801 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 KEVIN QUINN PRESIDENT 40.0 0.0 X 245000 0 32441 LISA VANDEWEERT VP FOR FINANCE/CFO 40.0 0.0 X 128767 0 27463 STEPHEN BARROWS PROVOST 40.0 0.0 X 125291 0 30113 SUSAN ENGLISH SCHOOL OF EDUCATION DEAN 40.0 0.0 X 103441 0 19791 602499 0 109808 4 false true false PIONEER GENERAL CONTRACTORS 550 KIRTLAND ST SW GRAND RAPIDS MI 49507 CONSTRUCTION 11119773 CREATIVE DINING SERVICES ONE ROYAL PART DRIVE ZEELAND MI 49464 DINING SERVICES 1778702 ELLUCIAN COMPANY LP 62578 COLLECTIONS CENTER DR CHICAGO IL 60693 INFORMATION TECH 1037868 CONTROL SOLUTIONS INC 8535 BYRON COMMERCE DR SW BYRON CENTER MI 49315 INFORMATION TECH 555842 PRESIDIO HOLDINGS PO BOX 677638 DALLAS TX 75267 INFORMATION TECH 506332 14 205425 1045005 2464646 75421 3715076 TUITION AND FEES 611310 45434869 45434869 AUXILIARY SERVICES 611710 6989410 6989410 OTHER REVENUE 900099 592540 415731 176809 53016819 1128554 1128554 0 0 244224 244224 0 244224 244224 13979067 13156952 822115 822115 822115 33435 205425 107490 -74055 -74055 0 0 0 0 0 0 0 58852733 52840010 176809 2120838 6000 6000 23218384 23218384 1230424 1230424 0 433671 433671 0 16248338 12968145 2643242 636951 363334 259426 87669 16239 3281200 1853134 1366401 61665 1117525 872630 199420 45475 0 123932 123932 51500 51500 0 0 300396 300396 3473601 2314695 1045338 113568 514175 288637 168352 57186 218321 149179 37602 31540 1641951 1063393 523402 55156 0 2011010 1757894 253116 2442357 2178741 124396 139220 0 0 1039995 778999 260996 0 2808539 2696463 112076 269112 269112 SUPPLIES 1006966 695917 284346 26703 OTHER 410765 204579 172350 33836 62211496 52536640 8457317 1217539 X 0 230 3350065 2333486 9422786 3736849 1476767 1473633 0 0 0 0 0 0 0 0 361863 336663 123976189 52468666 58593722 71507523 42206527 42569960 0 0 0 0 0 0 9952248 10205913 125363978 132164257 5687663 7814657 0 0 223485 261412 17166052 16538568 0 0 0 0 3994774 10295514 0 0 1560450 2666620 28632424 37576771 X 36961239 40592875 28473352 53994611 31296963 0 96731554 94587486 125363978 132164257 X -3358763 922873 291822 X X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 38958461 691765 1949936 745000 2558151 38297011 35224095 2878052 2495672 674900 964458 38958461 31025646 918214 3614855 724200 34834515 31429118 358088 -69601 594200 97759 31025646 28467287 3580752 427114 523600 522435 31429118 0.84030 0.15970 true false 2483678 2483678 58908162 25854368 33053794 19325135 10173217 9151918 16887025 13300829 3586196 26372189 3140252 23231937 71507523 CASH VALUE OF LIFE INSURANCE 24487 STUDENT LOANS RECEIVABLE 115061 BENEFICIAL INTEREST IN TRUSTS 10066365 10205913 0 AGREEMENT 11428 STUDENT AND OTHER DEPOSITS 538336 REFUNDABLE PERKINS LOAN ADVANCES 71067 FUNDS HELD IN TRUST FOR OTHERS 9161 DERIVATIVE LIABILITY 1010264 CAPITALIZED LEASE OBLIGATIONS 1026364 2666620 35425714 922873 656771 1579644 33846070 300396 24706267 25006663 58852733 37569782 107490 107490 37462292 300396 24448808 24749204 62211496 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 $ 549,281 FUNDRAISING EXPENSES $ 107,490 TOTAL $ 656,771 PART XI, LINE 4B DECREASE IN CASH VALUE OF LIFE INSURANCE $ 1,245 INTEREST RATE SWAP VALUATION $ 256,214 STUDENT AID $24,448,808 TOTAL $24,706,267 PART XII, LINE 2D FUNDRAISING EXPENSES $ 107,490 PART XII, LINE 4B STUDENT AID $24,448,808 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. CENTRAL AMERICA/THE CARIBBEAN PROGRAM SERVICES STUDY ABROAD 30832 EUROPE PROGRAM SERVICES STUDY ABROAD 356206 SOUTH AMERICA PROGRAM SERVICES STUDY ABROAD 20335 CENTRAL AMERICA/THE CARIBBEAN PROGRAM SERVICES SCHOLARSHIPS 16000 EAST ASIA AND THE PACIFIC PROGRAM SERVICES SCHOLARSHIPS 127819 EUROPE PROGRAM SERVICES SCHOLARSHIPS 720203 NORTH AMERICA PROGRAM SERVICES SCHOLARSHIPS 168751 RUSSIA/NEWLY INDEPENDENT STATES PROGRAM SERVICES SCHOLARSHIPS 59747 SOUTH AMERICA PROGRAM SERVICES SCHOLARSHIPS 89938 SUB-SAHARAN AFRICA PROGRAM SERVICES SCHOLARSHIPS 47966 CENTRAL AMERICA/THE CARIBBEAN INVESTMENTS 2457891 4095688 4095688 SCHOLARSHIPS Central America and the Caribbean 1 16000 TUITION DISC SCHOLARSHIPS East Asia and the Pacific 7 127819 TUITION DISC SCHOLARSHIPS Europe (Including Iceland and Greenland) 19 720203 TUITION DISC SCHOLARSHIPS North America 10 168751 TUITION DISC SCHOLARSHIPS Russia and the Newly Independent States 2 59747 TUITION DISC SCHOLARSHIPS South America 4 89938 TUITION DISC SCHOLARSHIPS Sub-Saharan Africa 3 47966 TUITION DISC false false false false false true CELEBR. SAINTS 114385 94322 20063 14992 28227 EMERITUS EVENT 62150 57050 5100 12085 10545 1 62325 54053 8272 20360 6453 14828 238860 205425 33435 20360 33530 53600 107490 -74055 true DOMINICAN SISTERS 2025 FULTON ST E GRAND RAPIDS MI 49503 381360581 501(C)(3) 6000 SUPPORT 1 SCHOLARSHIPS 1626 24448808 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 245000 0 0 0 0 0 7350 0 25091 0 277441 0 LISA VANDEWEERT VP FOR FINANCE/CFO 128767 0 0 0 0 0 3851 0 23612 0 156230 0 STEPHEN BARROWS PROVOST 125291 0 0 0 0 0 3759 0 26354 0 155404 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 630000 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. SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 11119773 CONSTRUCTION false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 1778702 DINING SERVICES false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 506332 INFORMATION TECH false X 1 34000 FAIR MARKET VALUE X 6 41421 FAIR MARKET VALUE 1 false false false 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 2019. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS OPEN TO PUBLIC INSPECTION ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART X TO MORE ACCURATELY DISCLOSE AQUINAS COLLEGE'S BENEFICIAL INTERESTS IN TRUSTS, THE ASSET HAS BEEN MOVED FROM LINE 4 ACCOUNTS RECEIVABLE TO LINE 15 OTHER ASSETS ON PART X FOR THE CURRENT YEAR. THIS CHANGE HAS ALSO BEEN REFLECTED ON THE PRIOR YEAR COLUMN AS WELL. PART XI, LINE 9 CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS $ 549,281 DECREASE IN CASH VALUE OF LIFE INSURANCE $ ( 1,245) INTEREST RATE SWAP VALUATION $ (256,214) TOTAL $ 291,822