2018-05-15T10:00:01-05:00 2017-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2016-07-01 381357980 Adrian College ADRI 5172655161 110 South Madison ADRIAN MI 49221 JERRY L WRIGHT VP OF BUSINESS AFFAIRS AND CFO 5172655161 2018-05-14 1 CAROL LALONDE CPA P00181637 2695674500 2018-05-08 2016 2022-09-23 18:48:47Z JERRY L WRIGHT 110 South Madison ADRIAN MI 49221 91185189 0 X WWW.ADRIAN.EDU X 1859 MI ADRIAN COLLEGE IS A LIBERAL ARTS, PRIVATE COLLEGE OFFERING BACHELOR AND MASTER DEGREE PROGRAMS. 32 32 1433 100 447129 0 6884378 5205753 69195604 70084426 3450204 7645960 230179 313436 79760365 83249575 29931497 31063752 0 0 24808007 26186411 0 0 391033 20074926 20943304 74814430 78193467 4945935 5056108 144655766 147193191 55729482 56797202 88926284 90395989 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 55141456 31063752 54599120 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. 15504101 15351613 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. 70645557 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 1 105 0 1 1433 1 1 1 0 0 0 0 0 0 0 0 0 X 32 32 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X DAVID DREWS 5172655161 110 SOUTH MADISON ADRIAN MI 49221 PATRICK FARVER CHAIRMAN 1.00 0.00 X X 0 0 0 JEFFREY DEBEST vice chaIRMAN 1.00 0.00 X X 0 0 0 SARAH SHUMATE secreTARY 1.00 0.00 X X 0 0 0 JAMES KAPNICK VICE CHAIRMAN - PART YEAR 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 CARSON GRUNEWALD 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 WAYNE LANCASTER 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 CURTISS SHAFFER TRUSTEE 1.00 0.00 X 0 0 0 ANTHONY SHIPLEY TRUSTEE 1.00 0.00 X 0 0 0 MARIANNA STAPLES TRUSTEE 1.00 0.00 X 0 0 0 RICHARD STROWGER TRUSTEE 1.00 0.00 X 0 0 0 RICHARD SWEEBE TRUSTEE 1.00 0.00 X 0 0 0 JAMES THOMAS 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 GINA VALENTINO trUSTEE 1.00 0.00 X 0 0 0 MARSHA WOOLEY trustee 1.00 0.00 X 0 0 0 KEVIN YOUNG trustee 1.00 0.00 X 0 0 0 ROBYN ARRINGTON TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 RONALD BATORY TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 LINDA DEPTA TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 RICHARD KIBBEY TRUSTEE - PART YEAR 1.00 0.00 X 0 0 0 JEFFREY DOCKING president 40.00 0.00 X 698972 0 111076 JERRY WRIGHT vp of business affairs/cfo/treasurer 40.00 0.00 X 168974 0 65234 FRANK HRIBAR vp of enrollment management 40.00 0.00 X 136582 0 61896 AGNES CALDWELL former vp and dean of academic affairs 40.00 0.00 X 131812 0 30354 AHSAN HABIB professor of economics 40.00 0.00 X 122532 0 44794 PATRICK QUINLAN professor of business administration 40.00 0.00 X 109668 0 52160 NANCY VANOVER professor of art 40.00 0.00 X 105442 0 45114 1473982 0 410628 10 0 1 0 SODEXO MANAGEMENT INC 110 SOUTH MADISON ADRIAN MI 49221 CAMPUS DINING 5203160 KRIEGHOFF-LENAWEE PO BOX 100 ADRIAN MI 49221 CONSTRUCTION CONTRACTOR 3240170 pci industries inc 21717 REPUBLIC AVE OAK PARK MI 48237 CONSTRUCTION CONTRACTOR 467627 BIANCO TRAVEL & TOURS INC 12555 UNIVERSAL DR TAYLOR MI 48180 COACH TRANSPORTATION 286313 design collaborative inc 200 E MAIN ST SUITE 600 FORT WAYNE IN 46802 ARCHITECTURE SERVICES 163985 14 468640 4737113 1117438 5205753 Instruction 611310 54447032 54447032 Room and Board 611310 15351613 15351613 AUXILIARY SERVICES 611710 285781 285781 70084426 4478775 4478775 10093919 6926734 3167185 3167185 3167185 1197196 1008880 188316 26968 161348 SPECTATOR SPORTS 711210 125120 125120 125120 83249575 69950733 447129 7645960 29237368 29237368 1826384 1826384 990993 545046 445947 18551363 17450458 894464 206441 1427784 820511 597531 9742 3868973 2132304 1663350 73319 1347298 1228964 102541 15793 94866 94866 75000 75000 81083 81083 6023990 5850555 173435 121208 101448 2788 16972 1611060 1397304 197655 16101 562076 413174 118975 29927 3557650 2606908 945845 4897 2103491 2004288 81362 17841 1921461 1921461 3918040 2154922 1763118 523266 523266 LIBRARY 284872 284872 BAD DEBT EXPENSE 17894 17894 47347 47347 78193467 70645557 7156877 391033 3694042 1563443 1771974 2264352 2341541 2228364 3774864 4025480 1474110 1626544 665288 740021 457124 435054 128006895 47328225 78098769 80678670 29897359 30371951 22480695 23259312 144655766 147193191 6252480 6081682 217437 211920 47609374 47803479 1650191 2700121 55729482 56797202 X 19748582 20100834 8921873 7850451 60255829 62444704 88926284 90395989 144655766 147193191 X 5056108 -3683672 97269 X X 0 1 X 1 1 1 X 6082604 8534491 4760218 6884378 5205753 31467444 6082604 8534491 4760218 6884378 5205753 31467444 5907226 25560218 3445765 2748255 2940827 3060350 4478775 16673972 1189837 1091761 1501902 1347508 1197196 6328204 54469620 328854947 0.46930 0.55620 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 119.00 0 0 0 1 0 155.00 1749 33612890 1361799 2991809 1300000 1450000 81083 35135415 33691157 1124450 176115 1300000 78832 33612890 33127537 1301736 492142 1150000 80258 33691157 27351747 4668318 2278821 1100000 71349 33127537 24607079 1909177 2150090 1250000 64599 27351747 0.94220 0.05780 1 0 3138522 842147 3980669 92238620 33488064 58750556 14685505 4919567 9765938 11731679 8920594 2811085 5370422 5370422 80678670 BENEFICIAL INTERESTS IN PERPETUAL TRUSTS 23097430 cash surrender value of life insurance 136882 DEPOSITS 25000 23259312 REFUNDABLE STUDENT DEPOSITS 251812 REFUNDABLE LOAN PROGRAM ADVANCES 1410629 interest rate swap liability 1037680 2700121 47906524 -34230937 -34230937 82137461 1112114 1112114 83249575 48057512 1008880 1008880 47048632 81083 31063752 31144835 78193467 Part II, Line 9: THE COLLEGE WAS GIFTED APPROXIMATELY 119 ACRES OF LAND THAT IS SUBJECT TO A CONSERVATION EASEMENT INTO PERPETUITY. THE CONSERVATION EASEMENT HAS BEEN RECORDED AS A CONTRA-REVENUE ITEM ON ITS REVENUE AND EXPENSE STATEMENT AND AS A CONTRA-ASSET ITEM ON ITS BALANCE SHEET, REDUCING THE NET VALUE OF THE GIFTED 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 -31,063,752. REALIZED GAINS ON SALES OF SECURITIES -3,167,185. Part XI, Line 4b - Other Adjustments: ENDOWMENT GIFTS 1,361,799. INTEREST AND DIVIDEND INCOME FROM ENDOWMENT INVESTMENTS 759,195. COST OF INVENTORY SOLD -1,008,880. Part XII, Line 2d - Other Adjustments: COST OF INVENTORY SOLD 1,008,880. Part XII, Line 4b - Other Adjustments: TUITION ASSISTANCE RECORDED AS REDUCTIONS TO REVENUE ON FINANICAL STATEMENTS 31,063,752. 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 1632589 SOUTH AMERICA 0 0 PROGRAM SERVICE SCHOLARSHIPS AND GRANTS 16565 EUROPE 0 0 PROGRAM SERVICE SCHOLARSHIPS AND GRANTS 134665 East Asia and the Pacific 0 0 program service scholarships and grants 42565 0 0 0 0 0 0 1826384 0 1826384 SCHOLARSHIPS AND GRANTS NORTH AMERICA 62 1632589 APPLIED AGAINST STUDENT'S TUITION ACCOUNT SCHOLARSHIPS AND GRANTS SOUTH AMERICA 1 16565 APPLIED AGAINST STUDENT'S TUITION ACCOUNT SCHOLARSHIPS AND GRANTS EUROPE 4 134665 APPLIED AGAINST STUDENT'S TUITION ACCOUNT SCHOLARSHIPS AND GRANTS east asia 2 42565 APPLIED AGAINST STUDENT'S TUITION ACCOUNT 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 1534 29237368 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 1 1 X 0 1 0 0 0 0 0 0 0 JEFFREY DOCKING president 449204 0 139712 0 110056 0 38500 0 17038 0 754510 0 0 0 JERRY WRIGHT vp of business affairs/cfo/treasurer 152339 0 0 0 16635 0 15579 0 17038 0 201591 0 0 0 FRANK HRIBAR vp of enrollment management 136274 0 0 0 308 0 13910 0 17038 0 167530 0 0 0 Part I, Line 1a 1) The Executive Committee of the Board of Trustees has authorized the President to utilize first class travel when traveling on official business of Adrian College 2) The Executive Committee of 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 of Adrian College 3) The Executive Committee of 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 4) The Executive Committee of 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 5) 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 2016. X 10 97438 QUOTED MARKET PRICES X MULTI-YEAR PLEDGE 2 1020000 WRITTEN PROMISE TO P 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 PROVIDED AN OPPORTUNITY FOR DISCUSSION AND RECOMMEND 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 SCHOOL'S CONFLICT OF INTEREST POLICY, AND VARIOUS OTHER POLICIES, ARE AVAILABLE ON THE SCHOOL'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 814,534. ACTUARIAL ADJUSTMENT OF ANNUITY AND PENSION OBLIGATIONS 320,415. CHANGE IN VALUE OF INTEREST RATE SWAP LIABILITY -1,037,680. Form 990, Part XII, Line 2c: THERE WAS NO CHANGE IN THE OVERSIGHT OR SELECTION PROCESS DURING THE TAX YEAR.