2017-05-15T14:56:36-05:00 2016-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2015-07-01 381357980 ADRIAN COLLEGE ADRI 5172655161 110 SOUTH MADISON ADRIAN MI 49221 JERRY L WRIGHT VP OF BUSINESS AFFAIRS AND CFO 5172655161 2017-05-15 1 CAROL LALONDE CPA P00181637 2695674500 2017-05-15 2015 2021-01-29 14:40:06Z JERRY L WRIGHT 110 SOUTH MADISON ADRIAN MI 49221 86156321 0 X WWW.ADRIAN.EDU X 1859 MI ADRIAN COLLEGE IS A LIBERAL ARTS, PRIVATE COLLEGE OFFERING BACHELOR AND MASTER DEGREE PROGRAMS. 30 30 1462 100 442289 0 4760218 6884378 65683082 69195604 3206880 3450204 733462 230179 74383642 79760365 26747470 29931497 0 0 24489754 24808007 0 0 414619 19470818 20074926 70708042 74814430 3675600 4945935 139755226 144655766 51692163 55729482 88063063 88926284 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 53035627 29931497 53899000 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. 14842865 15084494 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. 67878492 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 1 101 0 1 1462 1 1 1 0 0 0 0 0 0 0 0 0 X 30 30 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 TRAVIS PEARSE JR TRUSTEE 1.00 X 0 0 0 MARK EDGINGTON TRUSTEE 1.00 X 0 0 0 DAVID HICKMAN TRUSTEE 1.00 X 0 0 0 RUSSELL MCREYNOLDS TRUSTEE 1.00 X 0 0 0 RONALD BATORY TRUSTEE 1.00 X 0 0 0 ROBYN ARRINGTON TRUSTEE 1.00 X 0 0 0 ROBERT RANSOM TRUSTEE 1.00 X 0 0 0 ROBERT CUNNINGHAM TRUSTEE 1.00 X 0 0 0 RICHARD SWEEBE TRUSTEE 1.00 X 0 0 0 RICHARD STROWGER TRUSTEE 1.00 X 0 0 0 RICHARD KIBBEY TRUSTEE 1.00 X 0 0 0 KATHRYN MOHR TRUSTEE 1.00 X 0 0 0 ANTHONY SHIPLEY TRUSTEE 1.00 X 0 0 0 PATRICK FARVER CHAIRMAN 1.00 X X 0 0 0 MARSHA WOOLLEY TRUSTEE 1.00 X 0 0 0 RICHARD GURDJIAN TRUSTEE 1.00 X 0 0 0 LINDA DEPTA TRUSTEE 1.00 X 0 0 0 HAROLD CRAFT TRUSTEE 1.00 X 0 0 0 DAVID PILMORE TRUSTEE 1.00 X 0 0 0 JOHN HARNISH TRUSTEE 1.00 X 0 0 0 FRANK DICK TRUSTEE 1.00 X 0 0 0 CHARLES BAER TRUSTEE 1.00 X 0 0 0 GARY VALADE TRUSTEE 1.00 X 0 0 0 ERIN IBELE TRUSTEE 1.00 X 0 0 0 CARSON GRUNEWALD TRUSTEE 1.00 X 0 0 0 JAMES KAPNICK VICE CHAIRMAN 1.00 X X 0 0 0 JAMES THOMAS TRUSTEE 1.00 X 0 0 0 JEFFREY DEBEST TRUSTEE 1.00 X 0 0 0 SARAH SHUMATE SECRETARY 1.00 X X 0 0 0 BONNIE GARBRECHT TRUSTEE 1.00 X 0 0 0 JEFFREY DOCKING PRESIDENT 40.00 X 748654 0 50343 FRANK HRIBAR VICE PRESIDENT FOR ENROLLM 40.00 X 153905 0 25969 JERRY WRIGHT VICE PRESIDENT / CFO 40.00 X 179465 0 26943 AHSAN HABIB PROFESSOR OF ECONOMICS 40.00 X 118558 0 21102 JAMES A MAHONY VICE PRESIDENT FOR DEVELOP 40.00 X 112763 0 21734 AGNES CALDWELL VICE PRESIDENT AND DEAN OF 40.00 X 146025 0 19978 DAVID COY PROFESSOR OF ACCOUNTANCY 40.00 X 105118 0 26679 PATRICK QUINLAN PROFESSOR OF MARKETING 40.00 X 103260 0 21857 1667748 0 214605 10 0 1 0 SODEXO MANAGEMENT INC 110 SOUTH MADISON ADRIAN MI 49221 CAMPUS DINING 5025880 KRIEGHOFF-LENAWEE PO BOX 100 ADRIAN MI 49221 CONSTRUCTION CONTRACTOR 2894500 BIANCO TRAVEL & TOURS INC 12555 UNIVERSAL DR TAYLOR MI 48180 COACH TRAVEL 316370 SIEMENS INDUSTRY INC CO CITIBANK (BL PO BOX 2134 CAROL STREAM IL 60132 CAMPUS SECURITY MONITORING 194318 PERFORMANCE TRAVEL LTD 5366-A TWIN HICKORY RD GLEN ALLEN VA 23059 INTERNATIONAL STUDENT TRAVEL 169480 21 423587 6460791 1766310 6884378 INSTRUCTION 611310 53766548 53766548 ROOM AND BOARD 611310 15084494 15084494 AUXILIARY SERVICES 611710 344562 344562 69195604 3060350 3060350 5552794 5162940 389854 389854 389854 1347508 1233016 114492 16765 97727 SPECTATOR SPORTS 711210 115687 115687 115687 79760365 68983494 442289 3450204 28469995 28469995 1461502 1461502 1291692 646588 529026 116078 17576479 16680731 776423 119325 1335641 763031 563270 9340 3336161 1957840 1310415 67906 1268034 1148253 99867 19914 83180 83180 103639 103639 78832 78832 5497752 5363655 134097 137592 108054 17639 11899 2016102 1801467 190282 24353 552096 393876 135975 22245 3339851 2486472 851127 2252 1842015 1756928 63780 21307 1656416 1656416 3694665 2032066 1662599 433810 433810 BAD DEBT EXPENSE 297376 297376 LIBRARY 289103 289103 MISCELLANEOUS 52497 52497 74814430 67878492 6521319 414619 953335 3694042 545867 1771974 1532128 2341541 3465961 3774864 1213198 1474110 828628 665288 443617 457124 121562697 43463928 75730440 78098769 31113305 29897359 23928747 22480695 139755226 144655766 6067041 6252480 117811 217437 44041225 47609374 1466086 1650191 51692163 55729482 X 20187406 19748582 7214723 8921873 60660934 60255829 88063063 88926284 139755226 144655766 X 4945935 -2359053 78832 -1802493 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 119.00 0 0 0 1 0 230.00 2295 31411157 1124450 176115 1300000 78832 31332890 32027537 1301736 -657858 1150000 80258 31411157 27351747 3568318 2278821 1100000 71349 32027537 24607079 1909177 2150090 1250000 64599 27351747 22959880 3400568 -93423 1603500 56446 24607079 1 0 2537065 842147 3379212 88304515 31282691 57021824 14465902 4177887 10288015 10927133 8003350 2923783 4485935 4485935 78098769 BENEFICIAL INTERESTS IN PERPETUAL TRUSTS 22323511 CASH SURRENDER VALUE OF LIFE INSURANCE 132184 DEPOSITS 25000 22480695 REFUNDABLE STUDENT DEPOSITS 235752 REFUNDABLE LOAN PROGRAM ADVANCES 1414439 1650191 48781098 -30321351 -30321351 79102449 657916 657916 79760365 46037117 1233016 1233016 44804101 30010329 30010329 74814430 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 FINANCIAL STATEMENTS -29,931,497. REALIZED GAINS ON SALES OF SECURITIES -389,854. PART XI, LINE 4B - OTHER ADJUSTMENTS: ENDOWMENT GIFTS 1,124,450. INTEREST AND DIVIDEND INCOME FROM ENDOWMENT INVESTMENTS 766,482. COST OF INVENTORY SOLD -1,233,016. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF INVENTORY SOLD 1,233,016. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION ASSISTANCE RECORDED AS REDUCTIONS TO REVENUE ON FINANICAL STATEMENTS 29,931,497. INVESTMENT MANAGEMENT FEES 78,832. 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 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 1324852 SOUTH AMERICA 0 0 PROGRAM SERVICE SCHOLARSHIPS AND GRANTS 27330 EUROPE 0 0 PROGRAM SERVICE SCHOLARSHIPS AND GRANTS 109320 0 0 0 0 0 0 1461502 0 1461502 SCHOLARSHIPS AND GRANTS NORTH AMERICA 52 1324852 TUITION SCHOLARSHIPS N/A SCHOLARSHIPS AND GRANTS SOUTH AMERICA 1 27330 TUITION SCHOLARSHIPS N/A SCHOLARSHIPS AND GRANTS EUROPE 4 109320 TUITION SCHOLARSHIPS N/A 0 0 0 0 0 0 PART III, LINES 1,2, AND 3: FUNDS ARE NOT USED OUTSIDE OF THE UNITED STATES; RATHER, THEY ARE USED BY INTERNATIONAL STUDENTS WHILE ATTENDING SCHOOL IN THE UNITED STATES. AMOUNTS ARE APPLIED DIRECTLY TO STUDENTS' TUITION ACCOUNTS. 0 SCHOLARSHIPS 1558 28469995 0 PART I, LINE 6 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 VICE PRESIDENT AND DEAN OF ACADEMIC AFFAIRS' OFFICE, CLASS ATTENDANCE TAKEN BY FACULTY, AND HOUSING RECORDS MAINTAINED BY THE STUDENT AFFAIRS'OFFICE X X X X X X 1 1 X X 0 1 0 0 0 0 0 0 0 JEFFREY DOCKING PRESIDENT 457500 0 189712 0 101442 0 38510 0 11833 0 798997 0 0 0 FRANK HRIBAR VICE PRESIDENT FOR ENROLLM 138585 0 15000 0 320 0 14136 0 11833 0 179874 0 0 0 JERRY WRIGHT VICE PRESIDENT / CFO 147800 0 15000 0 16665 0 15110 0 11833 0 206408 0 0 0 AGNES CALDWELL VICE PRESIDENT AND DEAN OF 130832 0 15000 0 193 0 8045 0 11933 0 166003 0 0 0 PART II, 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 2015. X 7 129645 QUOTED MARKET PRICES X 1 190000 INDEPENDENT APPRAISAL X 1 383000 INDEPENDENT APPRAISAL X MULIT-YEAR PLEDGE 3 1050000 WRITTEN PROMISE TO P X HORSES 1 8500 INDEPENDENT APPRAISA X LANDSCAPING MATERIALS 1 4855 INVOICED VALUE X FLAGS 1 310 INVOICED VALUE 0 1 1 PART I, LINE 32B: PART I, COLUMN (B): ADRIAN COLLEGE IS REPORTING THE NUMBER OF CONTRIBUTIONS RATHER THAN THE QUANTITY 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 11 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 -1,802,493. ACTUARIAL ADJUSTMENT OF ANNUITY AND PENSION OBLIGATIONS FORM 990 PART XII, LINE 2C THERE WAS NO CHANGE IN THE OVERSIGHT OR SELECTION PROCESS DURING THE TAX YEAR.