2020-07-15T13:49:31-05:00 2019-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2018-07-01 381357980 ADRIAN COLLEGE ADRI 5172655161 110 SOUTH MADISON ADRIAN MI 49221 JERRY L WRIGHT VP OF BUSINESS AFFAIRS AND CFO 5172655161 2020-07-14 1 DORI J EGGETT P00645252 2695674500 2020-07-13 23.122.254.12 2020-07-14 07:21:13 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 58F74DC53CB874483B207ADF23CD6921384352E9 2018 2021-01-29 14:40:06Z JERRY L WRIGHT 110 SOUTH MADISON ADRIAN MI 49221 99295601 0 X WWW.ADRIAN.EDU X 1859 MI ADRIAN COLLEGE IS A LIBERAL ARTS, PRIVATE COLLEGE OFFERING BACHELOR AND MASTER DEGREE PROGRAMS. 31 31 1406 100 528231 0 5165780 6688972 72961566 80313513 6669509 3783306 380368 519007 85177223 91304798 34035492 39617857 0 0 25279291 26201461 0 0 323482 22051186 23071842 81365969 88891160 3811254 2413638 151100107 151796049 57631617 58944008 93468490 92852041 X ADRIAN COLLEGE, A LIBERAL ARTS COLLEGE IN THE UNITED METHODIST TRADITION, IS COMMITTED TO THE PURSUIT OF TRUTH AND TO THE DIGNITY OF ALL PEOPLE. THROUGH ACTIVE AND CREATIVE LEARNING IN A SUPPORTIVE COMMUNITY, STUDENTS ARE CHALLENGED TO ACHIEVE EXCELLENCE IN THEIR ACADEMIC, PERSONAL, AND PROFESSIONAL LIVES, AND TO CONTRIBUTE TO A MORE SOCIALLY JUST SOCIETY. 0 0 64249450 39617857 63271346 INSTRUCTION - THE EXEMPT PURPOSE OF THE SCHOOL IS THE TEACHING OF PRIMARILY UNDERGRADUATE HIGHER EDUCATION COURSES, ALONG WITH SOME GRADUATE COURSES, TO THE SCHOOL'S STUDENTS IN ORDER FOR THEM TO OBTAIN A LIBERAL ARTS BACHELOR OR MASTER DEGREE AND ENJOY A FULL COLLEGE EXPERIENCE. 17355387 17039676 ROOM AND BOARD - THE EXEMPT PURPOSE IS HOUSING AND FEEDING OF THE SCHOOL'S STUDENTS, ALLOWING THEM TO SUSTAIN RESIDENCY ON CAMPUS IN ORDER TO ATTEND CLASSES AND ACHIEVE A LIBERAL ARTS BACHELOR OR MASTER DEGREE. 81604837 1 1 0 0 0 0 1 0 0 1 1 0 0 1 1 0 1 0 1 0 1 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 145 0 1 1406 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 31 31 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X SHARON BURNS 5172655161 110 SOUTH MADISON ADRIAN MI 49221 PATRICK FARVER TRUSTEE, CHAIRMAN 1.00 0.00 X X 0 0 0 JEFFREY DEBEST TRUSTEE, VICE CHAIR 1.00 0.00 X X 0 0 0 GINA VALENTINO TRUSTEE, SECRETARY 1.00 0.00 X X 0 0 0 GREGORY ADAMS TRUSTEE 1.00 0.00 X 0 0 0 CHARLES BAER TRUSTEE 1.00 0.00 X 0 0 0 HAROLD CRAFT TRUSTEE 1.00 0.00 X 0 0 0 ROBERT CUNNINGHAM TRUSTEE 1.00 0.00 X 0 0 0 FRANK DICK TRUSTEE 1.00 0.00 X 0 0 0 MARK EDINGTON TRUSTEE 1.00 0.00 X 0 0 0 RICHARD GURDJIAN TRUSTEE 1.00 0.00 X 0 0 0 JOHN HARNISH TRUSTEE 1.00 0.00 X 0 0 0 DAVID HICKMAN TRUSTEE 1.00 0.00 X 0 0 0 ERIN IBELE TRUSTEE 1.00 0.00 X 0 0 0 CAROL JOHNS TRUSTEE 1.00 0.00 X 0 0 0 JAMES KAPNICK TRUSTEE 1.00 0.00 X 0 0 0 WAYNE LANCASTER TRUSTEE 1.00 0.00 X 0 0 0 CHARLES MCCALLUM TRUSTEE 1.00 0.00 X 0 0 0 RUSSELL MCREYNOLDS TRUSTEE 1.00 0.00 X 0 0 0 KATHRYN MOHR TRUSTEE 1.00 0.00 X 0 0 0 TRAVIS PEARSE JR TRUSTEE 1.00 0.00 X 0 0 0 DAVID PILMORE TRUSTEE 1.00 0.00 X 0 0 0 ROBERT RANSOM TRUSTEE 1.00 0.00 X 0 0 0 G CURTISS SHAFFER TRUSTEE 1.00 0.00 X 0 0 0 ANTHONY SHIPLEY TRUSTEE 1.00 0.00 X 0 0 0 SARAH SHUMATE TRUSTEE 1.00 0.00 X 0 0 0 MARIANNA STAPLES TRUSTEE 1.00 0.00 X 0 0 0 RICHARD SWEEBE TRUSTEE 1.00 0.00 X 0 0 0 GARY VALADE TRUSTEE 1.00 0.00 X 0 0 0 PAMELA VANDOREN TRUSTEE 1.00 0.00 X 0 0 0 MARSHA WOOLLEY TRUSTEE 1.00 0.00 X 0 0 0 KEVIN YOUNG TRUSTEE 1.00 0.00 X 0 0 0 JEFFREY DOCKING PRESIDENT 40.00 0.00 X 717440 0 59044 JERRY WRIGHT VP FOR BUSINESS AFFAIRS - CFO, TREASURER 40.00 0.00 X 180111 0 33296 FRANK HRIBAR VP FOR ENROLLMENT MANAGEMENT 40.00 0.00 X 147107 0 33573 BRYAN BOTT ASST PROFESSOR, LANGUAGES & CULTURES 40.00 0.00 X 111276 0 27147 DAVID COY PROFESSOR OF ACCOUNTANCY 40.00 0.00 X 109972 0 27349 ANDREA MILNER VP AND DEAN FOR ACADEMIC AFFAIRS 40.00 0.00 X 108822 0 30840 JAMES MAHONEY VP FOR DEVELOPMENT 40.00 0.00 X 103905 0 29766 1478633 0 241015 11 0 1 0 SODEXO MANAGEMENT INC 110 SOUTH MADISON ADRIAN MI 49221 CAMPUS DINING 4972774 KRIEGHOFF-LENAWEE CO PO BOX 100 ADRIAN MI 49221 CONSTRUCTION CONTRACTOR 3187133 SLUSARSKI EXCAVATING & PAVING INC 119 GREENLY STREET ADRIAN MI 49221 EXCAVATING 973084 BIANCO TRAVEL & TOURS INC 12555 UNIVERSAL DRIVE TAYLOR MI 48180 TRANSPORTATION 332390 CYNOSURE FINANCIAL INC 33490 HARPER AVENUE CLINTON TOWNSHIP MI 48035 COLLECTIONS 323748 5 520046 6168926 6688972 INSTRUCTION 611310 62823401 62823401 ROOM AND BOARD 611310 17039676 17039676 AUXILIARY SERVICES 611710 450436 63284 387152 80313513 3689471 3689471 7055985 6733 6968883 0 87102 6733 93835 6733 87102 1426358 1021920 404438 263359 141079 SPECTATOR SPORTS 711210 114569 114569 114569 91304798 80311022 528231 3776573 39617857 39617857 1329907 671255 549209 109443 19123865 18313339 729123 81403 1454690 851248 603442 2927033 1694449 1175711 56873 1365966 1254187 97792 13987 40722 40722 90500 90500 92825 92825 6915466 6513923 401543 70932 47747 6618 16567 1586148 1380514 191168 14466 506185 370756 123294 12135 3637991 2610079 1027616 296 2108699 2028941 61446 18312 2660032 2660032 4159335 2294678 1864657 598806 598806 BAD DEBT EXPENSE 286200 286200 LIBRARY 249777 249777 68224 68224 88891160 81604837 6962841 323482 3518619 7131767 149509 1960183 1957303 4012425 4093760 1705751 1450267 767453 777695 405847 474617 137107143 55425594 82350126 81681549 31774235 29866888 24455959 24362203 151100107 151796049 5604734 5085232 199481 225623 50269593 50977674 1557809 2655479 57631617 58944008 X 20681864 21942789 7994166 5839003 64792460 65070249 93468490 92852041 151100107 151796049 X 2413638 -1683809 -1346278 X X 0 1 X 1 1 1 X 4760218 6884378 5205753 5165780 6688972 28705101 4760218 6884378 5205753 5165780 6688972 28705101 1989076 26716025 2940827 3060350 4478775 5547768 3689471 19717191 1501902 1347508 1197196 1360065 1426358 6833029 55255321 363242997 0.48350 0.47530 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SALE OF INVENTORY - 2014 AMOUNT: $ 1,501,902. 2015 AMOUNT: $ 1,347,508. 2016 AMOUNT: $ 1,197,196. 2017 AMOUNT: $ 1,360,065. 2018 AMOUNT: $ 1,426,358. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 119.00 0 0 0 1 0 155.00 3000 34668242 1094595 1043284 1797039 1033842 33975240 33296383 1564101 1956962 1426000 723204 34668242 33612890 1361799 2991809 1300000 3289032 81083 33296383 33691157 1124450 176115 1300000 78832 33612890 33127537 1301736 492142 1150000 80258 33691157 0.00000 1.00000 0.00000 1 0 3288675 1207147 4495822 102071007 38238809 63832198 16968739 6562538 10406201 13086722 10624247 2462475 484853 484853 81681549 BENEFICIAL INTERESTS IN PERPETUAL TRUSTS 24200321 CASH SURRENDER VALUE OF LIFE INSURANCE 136882 DEPOSITS 25000 24362203 REFUNDABLE STUDENT DEPOSITS 297977 REFUNDABLE LOAN PROGRAM ADVANCES 1367394 INTEREST RATE SWAP LIABILITY 990108 2655479 50581448 -39704959 -39704959 90286407 1018391 1018391 91304798 50202398 1021920 1021920 49180478 39710682 39710682 88891160 PART II, LINE 9: THE COLLEGE OWNS APPROXIMATELY 119 ACRES OF LAND THAT IS SUBJECT TO A CONSERVATION EASEMENT INTO PERPETUITY. THE CONSERVATION EASEMENT HAS BEEN RECORDED AS A CONTRA-ASSET ON ITS STATEMENT O FINANCIAL POSITION, REDUCING THE NET VALUE OF THE LAND TO WHICH THE EASEMENT RELATES. PART V, LINE 4: EARNINGS ON ENDOWMENT INVESTMENTS ARE USED TO FUND ENDOWED SCHOLARSHIPS, LECTURESHIPS, AND CERTAIN FACILITIES EXPENSES PART XI, LINE 2D - OTHER ADJUSTMENTS: TUITION ASSISTANCE RECORDED AS REDUCTIONS TO REVENUE ON FINANCIAL STATEMENTS -39,617,857. REALIZED GAINS ON SALES OF SECURITIES -87,102. PART XI, LINE 4B - OTHER ADJUSTMENTS: ENDOWMENT GIFTS 1,094,595. INTEREST AND DIVIDEND INCOME FROM ENDOWMENT INVESTMENTS 945,716. COST OF INVENTORY SOLD -1,021,920. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF INVENTORY SOLD 1,021,920. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION ASSISTANCE RECORDED AS REDUCTIONS TO REVENUE ON FINANICAL STATEMENTS 39,617,857. INVESTMENT MANAGEMENT FEES 92,825. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 ALL FORMS AND POLICIES OF NONDISCRIMINATION ARE MADE AVAILABLE ON THE SCHOOL'S WEBSITE AND IN THE STUDENT HANDBOOK SCHEDULE E, PART I, LINE 6 ADRIAN COLLEGE PARTICIPATES IN STUDENT AID PROGRAMS SUPPORTED BY THE DEPARTMENT OF EDUCATION 1 NORTH AMERICA 0 0 PROGRAM SERVICE SCHOLARSHIPS AND GRANTS 1887560 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICE SCHOLARSHIPS AND GRANTS 338194 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICE SCHOLARSHIPS AND GRANTS 107013 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICE SCHOLARSHIPS AND GRANTS 30905 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICE SCHOLARSHIPS AND GRANTS 30905 0 0 0 0 0 0 2394577 0 2394577 SCHOLARSHIPS AND GRANTS NORTH AMERICA 66 1887560 TUITION SCHOLARSHIPS N/A SCHOLARSHIPS AND GRANTS EUROPE (INCLUDING ICELAND & GREENLAND) 12 338194 TUITION SCHOLARSHIPS N/A SCHOLARSHIPS AND GRANTS EAST ASIA AND THE PACIFIC 4 107013 TUITION SCHOLARSHIPS N/A SCHOLARSHIPS AND GRANTS RUSSIA AND NEIGHBORING STATES 1 30905 TUITION SCHOLARSHIPS N/A SCHOLARSHIPS AND GRANTS SUB-SAHARAN AFRICA 1 30905 TUITION SCHOLARSHIPS N/A 0 0 0 0 0 0 PART I, LINE 2: FUNDS ARE NOT USED OUTSIDE OF THE UNITED STATES; RATHER, FUNDS ARE USED BY INTERNATIONAL STUDENTS WHILE ATTENDING SCHOOL IN THE UNITED STATES. AMOUNTS ARE APPLIED DIRECTLY TO STUDENTS' TUITION ACCOUNTS. 1 SCHOLARSHIPS 1698 37223280 N/A N/A PART I, LINE 2: THE SCHOLARSHIPS GRANTED BY ADRIAN COLLEGE ARE USED TO PAY TUITION AND FEE CHARGES ON STUDENT ACCOUNTS. THE SCHOOL IS ALSO ABLE TO MONITOR WHETHER STUDENTS REMAIN AT THE COLLEGE THROUGH THE REGISTRAR'S OFFICE, THE OFFICE OF THE VICE PRESIDENT AND DEAN OF ACADEMIC AFFAIRS, CLASS ATTENDANCE TAKEN BY FACULTY, AND HOUSING RECORDS MAINTAINED BY THE OFFICE OF STUDENT AFFAIRS. X X X X X X 1 1 X 0 1 0 0 0 0 0 0 0 JEFFREY DOCKING PRESIDENT 496248 0 157232 0 63960 0 39833 0 19211 0 776484 0 0 0 JERRY WRIGHT VP FOR BUSINESS AFFAIRS - CFO, TREAS 156554 0 23110 0 447 0 14085 0 19211 0 213407 0 0 0 FRANK HRIBAR VP FOR ENROLLMENT MANAGEMENT 146799 0 0 0 308 0 15012 0 18561 0 180680 0 0 0 PART I, LINE 1A THE BOARD OF TRUSTEES HAS AUTHORIZED THE PRESIDENT TO UTILIZE FIRST-CLASS TRAVEL WHEN TRAVELING ON OFFICIAL BUSINESS OF ADRIAN COLLEGE. THE BOARD OF TRUSTEES HAS AUTHORIZED THE COLLEGE TO PAY FOR TRAVEL COSTS OF THE SPOUSE OF THE PRESIDENT WHEN ACCOMPANYING THE PRESIDENT ON, AND PERFORMING, OFFICIAL BUSINESS. THE BOARD OF TRUSTEES HAS AUTHORIZED THE COLLEGE TO PROVIDE THE PRESIDENT WITH A RESIDENCE FOR PERSONAL USE. THE PRESIDENT IS REQUIRED TO PERFORM A SUBSTANTIAL AMOUNT OF OFFICIAL COLLEGE BUSINESS FROM THIS RESIDENCE. THE BOARD OF TRUSTEES HAS AUTHORIZED THE COLLEGE TO HAVE ITS CUSTODIAL, MAINTENANCE, AND GROUNDS CREW EMPLOYEES SERVICE THE PERSONAL RESIDENCE THAT THE COLLEGE HAS PROVIDED TO THE PRESIDENT AS WELL AS A PRIVATE RESIDENCE OWNED BY THE PRESIDENT. THE COLLEGE'S FOOD SERVICE PROVIDER ALSO PREPARES MEALS FOR THE PRESIDENT AND GUESTS HOSTED BY THE PRESIDENT ON OFFICIAL COLLEGE BUSINESS AT THE RESIDENCE THE COLLEGE HAS PROVIDED TO THE PRESIDENT. THE COLLEGE RECEIVES PERSONAL INCOME TAX COUNSEL REGARDING THE VARIOUS FORMS OF COMPENSATION AND BENEFITS PROVIDED TO THE PRESIDENT AND BELIEVES THAT ALL ITEMS AND AMOUNTS HAVE BEEN APPROPRIATELY TREATED FOR INCOME TAX PURPOSES PART I, LINE 4B THE INDIVIDUAL LISTED IN PART II, LINE 1 MADE PERSONAL CONTRIBUTIONS OF $6,000, AND RECEIVED MATCHING CONTRIBUTIONS FROM THE SCHOOL OF $12,000, TO A SUPPLEMENTAL, NON-QUALIFIED RETIREMENT PLAN DURING CALENDAR YEAR 2018. X 14 55757 QUOTED MARKET PRICES 0 1 1 PART I, COLUMN (B): ADRIAN COLLEGE IS REPORTING THE NUMBER OF CONTRIBUTIONS MADE RATHER THAN THE NUMBER OF ITEMS CONTRIBUTED. PART I, LINE 32B: ADRIAN COLLEGE USES AN INDEPENDENT, THIRD-PARTY INVESTMENT FIRM TO SELL PUBLICLY TRADED SECURITIES CONTRIBUTED TO THE SCHOOL. FORM 990, PART VI, SECTION B, LINE 11B ALL MEMBERS OF THE AUDIT COMMITTEE AND THE CHAIRPERSON OF THE BOARD OF TRUSTEES ARE GIVEN THE COMPLETE FORM 990 TO REVIEW AND ARE PROVIDED AN OPPORTUNITY FOR DISCUSSION AND RECOMMENDATION OF ANY REVISIONS TO THE FORM. WHEN SATISFIED AS PROPER, THE AUDIT COMMITTEE PROVIDES A RECOMMENDATION TO THE FULL BOARD OF TRUSTEES THAT THE FORM BE APPROVED FOR FILING. COPIES OF THE FORM ARE MADE AVAILABLE TO THE BOARD OF TRUSTEES AT THE BOARD MEETING DURING WHICH THE FORM IS APPROVED FOR FILING. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES COMPLETE CONFLICT OF INTEREST POLICY DOCUMENTS AT THE ANNUAL MEETING; INFORMATION PROVIDED IS VERIFIED TO THE SCHOOL'S ACCOUNTING RECORDS BY THE SCHOOL'S BUSINESS OFFICE. SHOULD ANY CONFLICT OF INTEREST BE IDENTIFIED, AN OPPORTUNITY IS ALLOWED FOR THE CONFLICT TO BE RESOLVED OR APPROPRIATELY DISCLOSED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES IN THE UNITED STATES OF AMERICA ON THE COLLEGE'S AUDITED FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION B, LINE 15A EACH MAY, THE BOARD OF TRUSTEES ESTABLISHES THE ANNUAL COMPENSATION OF THE SCHOOL'S PRESIDENT BASED ON WORK PERFORMED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 ADRIAN COLLEGE'S GOVERNING DOCUMENTS ARE MAINTAINED BY THE SECRETARY OF THE BOARD OF TRUSTEES. THE COLLEGE'S CONFLICT OF INTEREST POLICY, AND VARIOUS OTHER POLICIES, ARE AVAILABLE ON THE COLLEGE'S WEBSITE. ANNUAL, AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTERESTS IN REMAINDER AND PERPETUAL TRUSTS 186,522. ACTUARIAL ADJUSTMENT OF ANNUITY AND PENSION OBLIGATIONS -250,231. CHANGE IN VALUE OF INTEREST RATE SWAP LIABILITY -1,282,569. FORM 990, PART XII, LINE 2C: THERE WAS NO CHANGE IN THE OVERSIGHT OR SELECTION PROCESS DURING THE TAX YEAR.