2016-02-13T12:33:35-06:00 2015-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2014-07-01 381367080 AQUINAS COLLEGE AQUI 6166328900 1607 ROBINSON ROAD SE GRAND RAPIDS MI 495061741 LEONARD KOGUT VP FOR FINANCE 6166322885 2016-02-10 1 CAROL A LALONDE CPA P00181637 2695674500 2014 2016-08-17 19:52:53Z LEONARD KOGUT 1607 ROBINSON ROAD SE GRAND RAPIDS MI 495061741 94974084 0 X WWW.AQUINAS.EDU X 1892 MI EDUCATION 13 13 1323 13 268896 -24280 10080343 8750843 52477698 52963962 2716085 4282210 476546 811174 65750672 66808189 23984740 24280783 0 0 19759942 20605493 9999 65000 1512664 15539677 15501220 59294358 60452496 6456314 6355693 94969548 100813257 29588590 32572342 65380958 68240915 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 46440521 24280783 52963962 AQUINAS COLLEGE SERVES 1,845 UNDERGRADUATE AND 156 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. 46440521 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 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 0 0 0 0 1 1 1 0 0 1 2748 0 1 1323 1 1 1 1 EI 0 0 0 1 1 0 0 0 0 X 13 13 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 0 0 1 0 0 X LEONARD KOGUT 6166322885 1607 ROBINSON ROAD SE GRAND RAPIDS MI 495061741 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 DEBRA BAILEY 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 MARCIE M HILLARY TRUSTEE 0.60 0.00 X 0 0 0 BILL H MANNS TRUSTEE 0.60 0.00 X 0 0 0 SR NATHALIE MEYER OP 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 LEONARD V KOGUT VP FOR FINANCE 40.00 0.00 X 103751 0 19340 GREGORY W MEYER VP FOR ADVANCEMENT 40.00 0.00 X 109538 0 12987 JUAN R OLIVAREZ PRESIDENT 40.00 0.00 X 226226 0 26372 PAULA T MEEHAN VP FOR ENROLLMENT 40.00 5.00 X 107062 0 19041 GILDA GELY PROVOST 40.00 0.00 X 71587 0 7931 CHARLES D GUNNOE JR PROFESSOR OF HISTORY 40.00 0.00 X 108923 0 21264 727087 0 106935 5 0 1 0 CREATIVE DINING SERVICES ONE ROYAL PART DRIVE ZEELAND MI 49464 FOOD SERVICES 1620912 RUFFALO NOEL LEVITZ 65 KIRKWOOD NORTH ROAD SW CEDAR RAPIDS IA 52404 RECRUITING & DEVELOPMENT 325156 PAGEWORKS 2801 OAK INDUSTRIAL DR NE GRAND RAPIDS MI 49505 WEBSITE DESIGN 221972 ELLUCIAN 4375 FAIR LAKES CT FAIRFAX VA 22033 SOFTWARE SUPPORT 200707 D&D PRINTING 342 MARKET AVE SW 1 GRAND RAPIDS MI 49503 PRINTING 143942 7 316837 2865892 5568114 231655 8750843 TUITION AND FEES 611310 46825456 46825456 AUXILIARY SERVICES 611710 6138506 6138506 52963962 933956 933956 155403 0 155403 155403 155403 31389142 28040888 3348254 3348254 3348254 42626 316837 125007 -82381 -82381 OTHER REVENUE 900099 702152 113493 588659 CONTRACT SERVICES 900099 36000 36000 738152 66808189 52963962 268896 4824488 24112283 24112283 168500 168500 888665 376776 388339 123550 15109234 11689920 2873532 545782 755596 558984 156054 40558 2759708 1858614 814010 87084 1092290 817229 227840 47221 30342 30342 48900 48900 65000 65000 178012 178012 1035587 301529 554346 179712 191160 191160 737824 593528 58021 86275 1199909 427634 772275 1289899 361899 891958 36042 900615 793564 64154 42897 1031637 1031637 2743896 2743896 261319 45076 216243 BOARD PLAN 1266273 1266273 ATHLETICS 940852 940852 SUPPLIES 833633 677246 64207 92180 TUITION REMISSION 804936 804936 2006426 1450614 389449 166363 60452496 46440521 12499311 1512664 786228 35648 6300682 4148181 10846261 11060039 532889 366568 91256134 42337203 44951189 48918931 31053691 36032173 498608 251717 94969548 100813257 5483619 4036962 370528 372024 14735000 18945000 5495463 6629627 3503980 2588729 29588590 32572342 X 22358893 22263887 19785586 19259770 23236479 26717258 65380958 68240915 94969548 100813257 X 6355693 -3542689 46953 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 28467287 3580752 427114 1046035 31429118 23046367 3323555 3156924 1059559 28467287 21229587 638552 1900095 721867 23046367 32151003 1613075 -285628 436796 11677714 134353 21229587 27422159 611810 4995455 495807 230110 152503 32151003 0.03140 0.85010 0.11850 1 0 2483678 2483678 54932703 21057848 33874855 17829758 7561099 10268659 10068202 8506359 1561843 5941793 5211897 729896 48918931 ACCRUED INTEREST 70282 OBLIGATIONS UNDER SPLIT INTEREST AGREEMENT 39265 STUDENT AND OTHER DEPOSITS 319934 REFUNDABLE PERKINS LOAN ADVANCES 82380 FUNDS HELD IN TRUST FOR OTHERS 141306 DERIVATIVE LIABILITY 1935562 2588729 X 39704638 -3542689 8900 46953 -3486836 43191474 178012 23438703 23616715 66808189 36883902 8900 881301 890201 35993701 178012 24280783 24458795 60452496 PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS RULED THAT THE COLLEGE HAS BEEN RECOGNIZED AS AN ORGANIZATION IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(3) AND SECTION 509(A) AS A PUBLIC CHARITY EXEMPT FROM INCOME TAXES UNDER IRC SECTION 501(A). ACCORDINGLY, NO PROVISION FOR FEDERAL INCOME TAXES HAS BEEN MADE IN THE CONSOLIDATED FINANCIAL STATEMENTS. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE COLLEGE AND RECOGNIZE A TAX LIABILITY IF THE COLLEGE HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE COLLEGE AND HAS CONCLUDED THAT AS OF JUNE 30, 2015, AND 2014, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE COLLEGE IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO JUNE 30, 2012. PART XI, LINE 2D - OTHER ADJUSTMENTS: CASH VALUE OF LIFE INSURANCE 14,033. CHANGE IN INTEREST RATE SWAP -30,580. CHANGE IN VALUE OF SWAP INTEREST AGREEMENT 63,500. PART XI, LINE 4B - OTHER ADJUSTMENTS: CONSOLIDATED ORGANIZATION REVENUES -717,073. TUITION DISCOUNT 24,280,783. FUNDRAISING EXPENSE -125,007. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 125,007. CONSOLIDATED ORGANIZATIONS EXPENSES 756,294. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION DISCOUNT 24,280,783. 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 163674 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES STUDY ABROAD 10190 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES STUDY ABROAD 335652 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 PROGRAM SERVICES STUDY ABROAD 10913 0 0 0 0 0 0 520429 0 520429 SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN 2 16000 SCHOLARSHIPS EAST ASIA AND THE PACIFIC 2 22000 SCHOLARSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) 3 24000 SCHOLARSHIPS NORTH AMERICA 2 24000 SCHOLARSHIPS RUSSIA AND NEIGHBORING STATES 1 19000 SCHOLARSHIPS SOUTH AMERICA 2 23000 SCHOLARSHIPS SOUTH ASIA 1 22000 SCHOLARSHIPS SUB-SAHARAN AFRICA 1 18500 0 0 0 0 0 0 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 168018 65000 103018 168018 65000 103018 MI BROOKBY BALL 102396 96568 5828 8728 2000 18169 EMERITUS EVENING 101500 90190 11310 21059 300 10303 3 155567 130079 25488 12392 30179 3000 18877 359463 316837 42626 12392 59966 5300 47349 125007 -82381 1 SCHOLARSHIPS 1759 24112283 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 226226 0 0 0 0 0 13485 0 12887 0 252598 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 MI HIGHER EDUCATION FACILITIES AUTHORITY 521285150 594519N30 2008-02-05 16325000 DEBT REFINANCING AND CAPITAL IMPROVEMENTS/ADDITIONS 1 1 0 B MICHIGAN FINANCE AUTHORITY LIMITED OBLIGATION HIGHER EDUCATION FACILITIES 800596186 NONEAVAIL 2014-12-03 19395000 DEBT REFINANCING AND CAPITAL IMPROVEMENTS/ADDITIONS 0 0 0 A 16412871 10213342 188051 6011477 2010 1 0 1 1 B 19395000 14735000 72976 4585000 2024 2015 1 0 1 1 A 0 0 0 0 1 0 0 B 0 0 0 0 1 0 0 A 0 1 0 0 1 1 HUNTINGTON BANK 180.000000000000 0 0 0 0 0 B 0 1 0 0 1 1 HNB 180.000000000000 0 0 0 0 0 A 0 B 0 X 1 555 FAIR MARKET VALUE X 18000 FAIR MARKET VALUE X 13049 FAIR MARKET VALUE X 26 176449 FAIR MARKET VALUE X BASKETBALL FLOOR 2 70000 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 AS STATED IN ARTICLE III OF THE ARTICLES. 3. AN AMENDMENT TO ARTICLE VII OF THE ARTICLES. 4. AN AMENDMENT TO ARTICLE VIII OF THE ARTICLES. 5. AN AMENDMENT TO ARTICLE XV-A OF THE ARTICLES. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WORKBOOK IS PREPARED BY THE BUSINESS OFFICE STAFF, INCLUDING THE ASSISTANT CONTROLLER AND 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 2014. 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 14,033. CHANGE IN INTEREST RATE SWAP -30,580. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 63,500. FORM 990, PART XII, LINE 2C NO CHANGE IN PROCESS FROM PRIOR YEAR. CONDUCTIVE EDUCATION AND REHABILITATION CENTER 1607 ROBINSON RD SE GRAND RAPIDS MI 49506 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 368300 ACTUAL