2017-05-12T10:33:00-05:00 2016-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2015-07-01 381367080 AQUINAS COLLEGE AQUI 6166328900 1700 FULTON STREET EAST GRAND RAPIDS MI 495061801 JUAN OLIVAREZ PRESIDENT 6166322885 2017-05-11 1 CAROL A LALONDE CPA P00181637 2695674500 2017-05-11 2015 2021-01-29 14:40:06Z X JUAN R OLIVAREZ 1700 FULTON STREET EAST GRAND RAPIDS MI 495061801 89418084 0 X WWW.AQUINAS.EDU X 1892 MI EDUCATION 15 15 1335 15 284263 0 8750843 13557582 52963962 53636155 4282210 -720357 811174 794105 66808189 67267485 24280783 24808834 0 0 20605493 19912198 65000 71500 1347024 15501220 15896989 60452496 60689521 6355693 6577964 100813257 106029452 32572342 30728718 68240915 75300734 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 SERVICE TO OTHERS, AND FOSTERS A COMMITMENT TO LIFELONG LEARNING DEDICATED TO THE PURSUIT OF TRUTH AND THE COMMON GOOD. 0 0 46560461 24808834 53636155 AQUINAS COLLEGE SERVES 1,785 UNDERGRADUATE AND 110 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. 46560461 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 1 1 1 1 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 2489 0 1 1335 1 1 1 1 EI 0 0 0 1 1 0 0 0 0 X 15 15 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 0 0 1 0 0 X STELLA SOROVIGAS 6166322885 1700 FULTON STREET EAST GRAND RAPIDS MI 495061801 DR DONALD BURNS CHAIR 0.60 0.00 X X 0 0 0 MATT WEY VICE CHAIR 0.60 0.00 X X 0 0 0 MICHAEL A LOWN TREASURER 0.60 0.00 X X 0 0 0 MARCIE M HILLARY SECRETARY 0.60 0.00 X X 0 0 0 RICHARD DURELL TRUSTEE 0.60 0.00 X 0 0 0 DENNIS ECHELBARGER TRUSTEE 0.60 0.00 X 0 0 0 SR MAUREEN GEARY OP TRUSTEE 0.60 0.00 X 0 0 0 BILL H MANNS TRUSTEE 0.60 0.00 X 0 0 0 LG RET JOHN NOWAK TRUSTEE 0.60 0.00 X 0 0 0 SR MARY KAY OOSDYKE OP TRUSTEE 0.60 0.00 X 0 0 0 ROBERT C WOODHOUSE JR TRUSTEE 0.60 0.00 X 0 0 0 VINIT K ASAR TRUSTEE 0.60 0.00 X 0 0 0 KIMBERLY K HANRAHAN TRUSTEE 0.60 0.00 X 0 0 0 MICHAEL H PRICE TRUSTEE 0.60 0.00 X 0 0 0 THOMAS G WELCH TRUSTEE 0.60 0.00 X 0 0 0 LEONARD V KOGUT VP FOR FINANCE 40.00 0.00 X 103708 0 19835 TRISH CASTIGLIONE VP FOR ADVANCEMENT 40.00 0.00 X 73697 0 17895 JUAN R OLIVAREZ PRESIDENT 40.00 0.00 X 214379 0 26841 PAULA T MEEHAN VP FOR ENROLLMENT 40.00 0.00 X 107072 0 19574 GREGORY W MEYER VP FOR ADVANCEMENT - PART YEAR 40.00 0.00 X 93710 0 11516 STEPHEN BARROWS PROVOST 40.00 0.00 X 55356 0 19119 GILDA GELY PROVOST - PART YEAR 40.00 0.00 X 119304 0 13840 767226 0 128620 4 0 1 0 CREATIVE DINING SERVICES ONE ROYAL PART DRIVE ZEELAND MI 49464 FOOD SERVICES 1730333 RUFFALO NOEL LEVITZ 1025 KIRKWOOD PARKWAY SW CEDAR RAPIDS IA 52404 RECRUITING & DEVELOPMENT 378902 PAGEWORKS 2801 OAK INDUSTRIAL DR NE GRAND RAPIDS MI 49505 WEBSITE DESIGN 223693 AXIOS 528 4TH ST NW GRAND RAPIDS MI 49504 HUMAN RESOURCES 187200 D&D PRINTING 342 MARKET AVE SW 1 GRAND RAPIDS MI 49503 PRINTING 106793 5 217766 2639266 10700550 247242 13557582 TUITION AND FEES 611310 46797225 46797225 AUXILIARY SERVICES 611710 6838930 6838930 53636155 1040079 1040079 142349 0 142349 142349 142349 20297386 22057822 -1760436 -1760436 -1760436 17826 217766 92777 -74951 -74951 OTHER REVENUE 900099 678707 141914 536793 CONTRACT SERVICES 900099 48000 48000 726707 67267485 53636155 284263 -210515 24456816 24456816 352018 352018 875843 357654 375739 142450 14920126 11669497 2766960 483669 595120 553937 7283 33900 2444605 1747318 639717 57570 1076504 806696 226052 43756 41960 41960 51900 51900 71500 71500 248099 248099 1835681 398724 1257700 179257 155417 155417 741491 517665 142617 81209 1335495 11496 1323999 862634 330677 531957 882620 834517 35577 12526 1021725 1021725 2437442 2437442 266371 54842 211529 BOARD PLAN 1396458 1396458 ATHLETICS 1142069 1142069 SUPPLIES 778282 584870 85211 108201 TUITION REMISSION 741753 741753 1957592 1345207 479399 132986 60689521 46560461 12782036 1347024 35648 3571591 4148181 7910021 11060039 10511374 366568 48452 92700200 44772128 48918931 47928072 36032173 35817627 251717 242315 100813257 106029452 4036962 3508528 372024 193005 18945000 18405000 6629627 5420111 2588729 3202074 32572342 30728718 X 22263887 23056068 19259770 25581392 26717258 26663274 68240915 75300734 100813257 106029452 X 6577964 923363 -441508 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 31429118 358088 -69601 691959 31025646 28467287 3580752 427114 1046035 31429118 23046367 3323555 3156924 1059559 28467287 21229587 638552 1900095 721867 23046367 32151003 1613075 -285628 436796 11677714 134353 21229587 0.04480 0.85940 0.09580 1 0 2483678 2483678 54932703 22252836 32679867 18756512 8234202 10522310 10588833 8953729 1635104 5938474 5331361 607113 47928072 ACCRUED INTEREST 68233 OBLIGATIONS UNDER SPLIT INTEREST AGREEMENT 26677 STUDENT AND OTHER DEPOSITS 442665 REFUNDABLE PERKINS LOAN ADVANCES 77341 FUNDS HELD IN TRUST FOR OTHERS 140848 DERIVATIVE LIABILITY 2446310 3202074 43609692 923363 22933 -441508 504788 43104904 248099 23914482 24162581 67267485 36595003 22933 939482 962415 35632588 248099 24808834 25056933 60689521 PART V, LINE 4: TO FURTHER THE MISSION OF THE COLLEGE. PART XI, LINE 2D - OTHER ADJUSTMENTS: CASH VALUE OF LIFE INSURANCE 655. CHANGE IN INTEREST RATE SWAP -510,748. CHANGE IN VALUE OF SWAP INTEREST AGREEMENT 68,585. PART XI, LINE 4B - OTHER ADJUSTMENTS: CONSOLIDATED ORGANIZATION REVENUES -801,575. TUITION DISCOUNT 24,808,834. FUNDRAISING EXPENSE -92,777. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 92,777. CONSOLIDATED ORGANIZATIONS EXPENSES 846,705. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION DISCOUNT 24,808,834. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 MISSION, PROCLAMATION ON DIVERSITY PUBLISHED IN THE CATLOG, RECRUITMENT MATERIALS, ADMISSIONS MATERIALS AND WEBSITE. SCHEDULE E, PART I, LINE 6 AQUINAS COLLEGE PROVIDES STUDENTS WITH APPLICABLE FEDERAL TITLE IV STUDENT ASSISTANCE PROGRAMS AND THAT OF MICHIGAN GRANTS AND SCHOLARSHIPS. 1 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM SERVICES STUDY ABROAD 138378 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES STUDY ABROAD 4 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES STUDY ABROAD 406510 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 PROGRAM SERVICES STUDY ABROAD 20453 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS N/A 2141114 0 0 0 0 0 0 2706459 0 2706459 SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN 3 32000 0 SCHOLARSHIPS EAST ASIA AND THE PACIFIC 4 60978 0 SCHOLARSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) 8 142446 0 SCHOLARSHIPS NORTH AMERICA 3 31000 0 SCHOLARSHIPS RUSSIA AND NEIGHBORING STATES 1 21000 0 SCHOLARSHIPS SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 3 41094 0 SCHOLARSHIPS SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 1 18500 0 SCHOLARSHIPS MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, IRAN, 1 5000 0 0 0 0 1 0 1 PART I, LINE 2: ALL ACTIVITY, INCLUDING CORRESPONDENCE, IS MAINTAINED AND SUMMARIZED X X X X X X X 1 RUFFALO NOEL LEVITZ 1025 KIRKWOOD PARKWAY SW CEDAR RAPIDS IA 52404 PHONE CENTER 0 154145 71500 82645 154145 71500 82645 MI BROOKBY BALL 74875 88755 -13880 139 6721 2189 25605 GOLF OUTING 93267 66691 26576 23675 10628 1 67450 62320 5130 12996 450 10374 235592 217766 17826 139 43392 2639 46607 92777 -74951 1 SCHOLARSHIPS 1719 24456816 PART I, LINE 2: STUDENTS RECEIVE SCHOLARSHIPS AS CREDITS AGAINST TUITION. THESE SCHOLARSHIPS CAN BE BASED ON NEED AND/OR ON ACADEMIC PERFORMANCE. X X X 1 1 X 0 0 0 0 0 0 0 0 0 JUAN R OLIVAREZ PRESIDENT 214379 0 0 0 0 0 13490 0 13351 0 241220 0 0 0 PART I, LINE 1A THE PRESIDENT RECEIVES TRAVEL BENEFITS FOR SPOUSE. THE PRESIDENT ALSO RECEIVES A HOUSING ALLOWANCE, AS REQUIRED BY THE BOARD. THESE BENEFITS ARE TREATED AS NON-TAXABLE COMPENSATION. A MICHIGAN FINANCE AUTHORITY LIMITED OBLIGATION HIGHER EDUCATION FACILITIES 800596186 NONEAVAIL 2014-12-03 19395000 DEBT REFINANCING AND CAPITAL IMPROVEMENTS/ADDITIONS 0 0 0 A 19395000 14735000 4585000 2024 2015 1 0 1 1 A 0 0 0 0 1 0 0 A 0 1 0 0 1 1 HNB 180.000000000000 0 0 0 0 0 A 0 X 1 10200 FAIR MARKET VALUE X 10291 FAIR MARKET VALUE X 14 226751 FAIR MARKET VALUE 0 0 0 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 11 THE FORM 990 WORKBOOK IS PREPARED BY THE BUSINESS OFFICE STAFF, INCLUDING THE CONTROLLER. THE 990 DRAFT REVIEW PROCESS STARTS WITH THE ACCOUNTING FIRM THAT PERFORMED THE YEAR-END AUDIT, FOLLOWED BY THE VP FOR FINANCE, THEN THE BOARD TREASURER. WHEN THE 990 IS FINALIZED, THE TREASURER MAKES THE 990 AVAILABLE TO MEMBERS OF THE BOARD. 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 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 BUSINESS AND FINANCE COMMITTEE OF THE BOARD APPROVES STAFF COMPENSATION. THIS PROCESS WAS MOST RECENTLY UNDERTAKEN IN 2015. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS OPEN TO PUBLIC INSPECTION ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: INCREASE IN CASH VALUE OF LIFE INSURANCE 655. CHANGE IN INTEREST RATE SWAP -510,748. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 68,585. FORM 990, PART XII, LINE 2C: NO CHANGE IN PROCESS FROM PRIOR YEAR. CONDUCTIVE EDUCATION AND REHABILITATION CENTER 1700 FULTON STREET EAST GRAND RAPIDS MI 495061801 383601587 PROVIDE EDUCATION, TRAINING AND DEVELOPMENT FOR PEOPLE WITH MOTOR DISORDERS MI 501(C)(3) LINE 2 AQUINAS COLLEGE 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 CONDUCTIVE EDUCATION AND REHABILITATION CENTER OF MICHIGAN Q 469123 ACTUAL