2016-05-16T09:06:30-05:00 2015-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2014-07-01 381357980 ADRIAN COLLEGE ADRI 5172655161 110 SOUTH MADISON ADRIAN MI 49221 JERRY L WRIGHT VP OF BUSINESS AFFAIRS AND CFO 5172655161 2016-05-13 1 CAROL LALONDE CPA P00181637 2695674500 2014 2016-08-17 19:52:53Z JERRY L WRIGHT 110 SOUTH MADISON ADRIAN MI 49221 78475769 0 X WWW.ADRIAN.EDU X 1859 MI ADRIAN COLLEGE IS A LIBERAL ARTS, PRIVATE COLLEGE OFFERING BACHELOR AND MASTER DEGREE PROGRAMS. 33 33 1493 100 763961 0 8534491 4760218 61058524 65683082 3497592 3206880 250240 733462 73340847 74383642 25368534 26747470 0 0 24174807 24489754 0 0 412713 17936708 19470818 67480049 70708042 5860798 3675600 135296587 139755226 47714227 51692163 87582360 88063063 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 50556078 26747470 51972682 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. 13273720 13679901 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. 63829798 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 120 0 1 1493 1 1 1 0 0 0 0 0 0 0 0 0 X 33 33 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 ROBYN ARRINGTON TRUSTEE 1.00 X 0 0 0 CHARLES BAER TRUSTEE 1.00 X 0 0 0 RONALD BATORY TRUSTEE 1.00 X 0 0 0 HAROLD CRAFT TRUSTEE 1.00 X 0 0 0 JEFFREY DEBEST TRUSTEE 1.00 X 0 0 0 LINDA DEPTA TRUSTEE 1.00 X 0 0 0 FRANK DICK TRUSTEE 1.00 X 0 0 0 PATRICK FARVER CHAIRMAN 1.00 X X 0 0 0 BONNIE GARBRECHT TRUSTEE 1.00 X 0 0 0 CARSON GRUNEWALD TRUSTEE 1.00 X 0 0 0 RICHARD GURDJIAN TRUSTEE 1.00 X 0 0 0 JOHN HARNISH TRUSTEE 1.00 X 0 0 0 DAVID HICKMAN TRUSTEE 1.00 X 0 0 0 JAMES KAPNICK VICE CHAIRMAN 1.00 X X 0 0 0 RICHARD KIBBEY TRUSTEE 1.00 X 0 0 0 RUSSELL MCREYNOLDS TRUSTEE 1.00 X 0 0 0 KATHRYN MOHR TRUSTEE 1.00 X 0 0 0 TRAVIS PEARSE JR TRUSTEE 1.00 X 0 0 0 DAVID PILMORE TRUSTEE 1.00 X 0 0 0 ROBERT RANSOM TRUSTEE 1.00 X 0 0 0 RONALD REEVES TRUSTEE 1.00 X 0 0 0 DOUGLAS ROBINSON TRUSTEE 1.00 X 0 0 0 MICHAEL SEELYE TRUSTEE 1.00 X 0 0 0 ANTHONY SHIPLEY TRUSTEE 1.00 X 0 0 0 SARAH SHUMATE SECRETARY 1.00 X X 0 0 0 RICHARD STROWGER TRUSTEE 1.00 X 0 0 0 RICHARD SWEEBE TRUSTEE 1.00 X 0 0 0 JAMES THOMAS TRUSTEE 1.00 X 0 0 0 GARY VALADE TRUSTEE 1.00 X 0 0 0 PAUL WESTON TRUSTEE 1.00 X 0 0 0 STEPHEN WOLFE TRUSTEE 1.00 X 0 0 0 MARSHA WOOLLEY TRUSTEE 1.00 X 0 0 0 JEFFREY DOCKING PRESIDENT 40.00 X 729149 0 47897 JERRY WRIGHT VICE PRESIDENT / CFO 40.00 X 165148 0 24168 FRANK HRIBAR VICE PRESIDENT FOR ENROLLM 40.00 X 120563 0 22480 AGNES CALDWELL VICE PRESIDENT AND DEAN OF 40.00 X 117082 0 19580 JAMES A MAHONY VICE PRESIDENT FOR DEVELOP 40.00 X 92837 0 19570 AHSAN HABIB PROFESSOR OF ECONOMICS 40.00 X 111107 0 19410 1335886 0 153105 5 0 1 0 KRIEGHOFF-LENAWEE PO BOX 100 ADRIAN MI 49221 CONSTRUCTION CONTRACTOR 9763905 SODEXO MANAGEMENT INC 110 SOUTH MADISON ADRIAN MI 49221 CAMPUS DINING 4673715 SIEMENS INDUSTRY INC PO BOX 2134 CAROL STREAM IL 60132 CAMPU SECURITY SYSTEM 325000 LRAP ASSOCIATION INC 899 S COLLEGE MALL RD 362 BLOOMINGTON IN 47401 INSURANCE COVERAGE 270000 BIANCO TRAVEL & TOURS INC 12555 UNIVERSAL DR TAYLOR MI 48180 COACH TRAVEL 269319 19 577069 4183149 121134 4760218 INSTRUCTION 611310 51500700 51500700 ROOM AND BOARD 611310 13679901 13679901 AUXILIARY SERVICES 611710 502481 502481 65683082 2940827 2940827 3513937 3163008 84876 350929 -84876 266053 266053 1501902 844243 657659 396179 261480 SPECTATOR SPORTS 711210 75803 75803 75803 74383642 65652583 763961 3206880 26747470 26747470 1246446 633074 517970 95402 17183859 16289062 754796 140001 1315056 746364 559352 9340 3524039 2076265 1379868 67906 1220354 1104979 97367 18008 68643 68643 55943 55943 80258 80258 5349843 5267786 82057 144864 120413 12552 11899 2227930 2022431 181146 24353 388112 208774 157093 22245 3415987 2510150 903585 2252 1853207 1765539 66361 21307 1558394 1558394 3619551 1990753 1628798 391740 391740 LIBRARY 247483 247483 BAD DEBT EXPENSE 29231 29231 39632 39632 70708042 63829798 6465531 412713 2372559 953335 2008490 545867 1836814 1532128 2671158 3465961 1116067 1213198 748389 828628 396197 443617 115510979 39780539 70108967 75730440 28950703 31113305 25087243 23928747 135296587 139755226 6361704 6067041 216088 117811 39886708 44041225 1249727 1466086 47714227 51692163 X 19376504 20187406 7624852 7214723 60581004 60660934 87582360 88063063 135296587 139755226 X 3675600 -1870046 80258 -1405109 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 32027537 1301736 -657858 1150000 80258 31411157 27351747 3568318 2278821 1100000 71349 32027537 24607079 1909177 2150090 1250000 64599 27351747 22959880 3400568 -93423 1603500 56446 24607079 22360694 364564 3712135 1624549 1786012 66952 22959880 1.00000 1 0 2379234 459147 2838381 88157632 29177796 58979836 14133343 3433682 10699661 9933418 7169061 2764357 448205 448205 75730440 BENEFICIAL INTERESTS IN PERPETUAL TRUSTS 23779931 CASH SURRENDER VALUE OF LIFE INSURANCE 123816 DEPOSITS 25000 23928747 REFUNDABLE STUDENT DEPOSITS 293696 REFUNDABLE LOAN PROGRAM ADVANCES 1172390 1466086 X 46046749 -27098399 -27098399 73145148 1238494 1238494 74383642 44724557 844243 844243 43880314 26827728 26827728 70708042 PART V, LINE 4: EARNINGS ON ENDOWMENT INVESTMENTS ARE USED TO FUND ENDOWED SCHOLARSHIPS, LECTURESHIPS, AND CERTAIN FACILITIES EXPENSES PART X, LINE 2: THE COLLEGE IS A NOT-FOR-PROFIT CORPORATION AND HAS BEEN RECOGNIZED AS TAX EXEMPT PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. 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: TUITION ASSISTANCE RECORDED AS REDUCTIONS TO REVENUE FINANCIAL STATEMENTS -26,747,470. REALIZED GAINS ON SALES OF SECURITIES -350,929. PART XI, LINE 4B - OTHER ADJUSTMENTS: ENDOWMENT GIFTS 1,301,736. INTEREST AND DIVIDEND INCOME FROM ENDOWMENT INVESTMENTS 781,001. COST OF INVENTORY SOLD -844,243. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF INVENTORY SOLD 844,243. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION ASSISTANCE RECORDED AS REDUCTIONS TO REVENUE ON FINANICAL STATEMENTS 26,747,470. INVESTMENT MANAGEMENT FEES 80,258. 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 0 SCHOLARSHIPS 1563 26747470 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 431905 0 198971 0 98273 0 37667 0 10230 0 777046 0 0 0 JERRY WRIGHT VICE PRESIDENT / CFO 136634 0 0 0 28514 0 13938 0 10230 0 189316 0 0 0 PART 1, LINE 4B THE INDIVIDUAL LISTEN IN PART II, LINE 1 MADE PERSONAL CONTRIBUTIONS OF $5,833 AND RECEIVED MATCHING CONTRIBUTIONS FROM THE SCHOOL OF $11,667, TO A SUPPLEMENTAL, NON-QUALIFIED RETIREMENT PLAN DURING 2014. X 7 121134 QUOTED MARKET PRICES 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. 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 -1,193,899. ACTUARIAL ADJUSTMENT OF ANNUITY AND PENSION OBLIGATIONS -211,210. FORM 990 PART XII, LINE 2C THERE WAS NO CHANGE IN THE OVERSIGHT OR SELECTION PROCESS DURING THE TAX YEAR.