2014-05-15T13:13:02-05:00 2013-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2012-07-01 381367080 AQUINAS COLLEGE AQUI 6166328900 1607 ROBINSON ROAD SE GRAND RAPIDS MI 495061741 LEONARD KOGUT 6166322885 2014-05-15 1 VICKI L VANDENBERG CPA P00100422 2695674500 2012 2015-11-30 17:44:51Z LEONARD KOGUT 1607 ROBINSON ROAD SE GRAND RAPIDS MI 495061741 84946692 0 X WWW.AQUINAS.EDU X 1892 MI EDUCATION 15 15 1291 15 282262 0 12585946 7319058 49523851 51399243 3294030 2244633 420926 583598 65824753 61546532 21599162 23370920 0 0 20140539 19808916 0 10675 1401874 15731719 16278460 57471420 59468971 8353333 2077561 82815265 84100671 30941742 28022343 51873523 56078328 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 44274236 23370920 51399243 AQUINAS COLLEGE SERVES 1,922 UNDERGRADUATE AND 171 GRADUATE STUDENTS. THE COLLEGE STRIVES TO PROVIDE A LIBERAL ARTS EDUCATION WITH A GLOBAL PERSPECTIVE, EMPHASIZING CAREER PREPARATION FOCUSED ON LEADERSHIP ANDSERVICE TO OTHERS, ROOTED IN THE CATHOLIC DOMINICAN TRADITION. 44274236 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 1 1 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 1 1 1 0 0 1 3236 0 1 1291 1 1 1 1 EI 0 0 0 1 1 0 0 0 0 X 15 15 0 0 1 0 0 1 1 1 1 0 0 1 1 1 0 0 0 1 0 0 X LEONARD KOGUT 6166322885 1607 ROBINSON ROAD SE GRAND RAPIDS MI 495061741 LGEN RET JOHN NOWAK 0.60 0.00 X X 0 0 0 DR DONALD BURNS 0.60 0.00 X X 0 0 0 MICHAEL A LOWN 0.60 0.00 X X 0 0 0 SR NATHALIE MEYER OP 0.60 0.00 X X 0 0 0 BGEN RET JAMES BRUNSON 0.60 0.00 X 0 0 0 DCN DENNIS M WILLIAMS 0.60 0.00 X 0 0 0 DEBRA BAILEY 0.60 0.00 X 0 0 0 DENNIS ECHELBARGER 0.60 0.00 X 0 0 0 MATT WEY 0.60 0.00 X 0 0 0 REV MARK PRZYBYSZ 0.60 0.00 X 0 0 0 RICHARD DURELL 0.60 0.00 X 0 0 0 ROBERT C WOODHOUSE JR 0.60 0.00 X 0 0 0 SR MARY KAY OOSDYKE OP 0.60 0.00 X 0 0 0 SR MAUREEN GEARY OP 0.60 0.00 X 0 0 0 THOMAS W CZERNEY 0.60 0.00 X 0 0 0 CHARLES D GUNNOE JR 40.00 0.00 X 110600 0 22689 GREGORY W MCALEENAN 40.00 0.00 X 119041 0 15236 GREGORY W MEYER 40.00 0.00 X 106998 0 15149 JUAN R OLIVAREZ 40.00 0.00 X 218080 0 20198 PAULA T MEEHAN 40.00 5.00 X 99190 0 19875 STEPHEN J WONCH 40.00 0.00 X 98825 0 21967 752734 0 115114 4 0 1 0 CREATIVE DINING SERVICES ONE ROYAL PART DRIVE ZEALAND MI 49464 FOOD SERVICES 1955701 GRAND RAPIDS DOMINICANS 2025 FULTON STREET EAST GRAND RAPIDS MI 49503 LEASED EMPLOYEES 326728 RUFFALO CODY & ASSOCIATES 65 KIRKWOOD NORTH ROAD SW CEDAR RAPIDS IA 52404 RECRUITING 246948 D&D PRINTING 342 MARKET AVE SW 1 GRAND RAPIDS MI 49503 PRINTING 217346 AXIOS INCORPORATED 801 BROADWAY AVE NW 200 GRAND RAPIDS MI 49504 EMPLOYEE LEASING 121832 6 610375 2890079 3818604 105305 7319058 TUITION AND FEES 611310 45053642 45053642 AUXILIARY SERVICES 611710 6345601 6345601 51399243 887443 887443 174273 0 174273 174273 174273 24588000 23230810 1357190 1357190 1357190 48447 610375 169350 -120903 -120903 OTHER REVENUE 900099 518228 107989 410239 CONTRACT SERVICES 900099 12000 12000 530228 61546532 51399243 282262 2545969 23252920 23252920 118000 118000 791961 263475 374123 154363 14773012 11234397 2876650 661965 3192590 2234826 815649 142115 1051353 773670 221247 56436 40873 40873 42416 42416 10675 10675 314749 314749 680077 266836 364416 48825 119970 119970 829291 628002 146534 54755 1444073 8220 1426803 9050 1821677 246850 1574827 837224 722635 31966 82623 1009943 1009943 2883275 2883275 237979 45899 192080 BOARD PLAN 1494522 1494522 ATHLETICS 894690 894690 SUPPLIES 773830 635923 79800 58107 TUITION REMISSION 707010 707010 2146861 1453371 570530 122960 59468971 44274236 13792861 1401874 224169 565438 4128273 4247064 4225402 9985529 549039 208593 77734369 37003922 41704440 40730447 30878637 27854939 575695 0 529610 508661 82815265 84100671 4658194 4231024 370722 246620 16090000 15430000 5100215 4196947 4722611 3917752 30941742 28022343 X 17824336 18355641 15588708 18230932 18460479 19491755 51873523 56078328 82815265 84100671 X 2077561 1054846 1072398 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 21229587 638552 1900095 721867 23046367 32151003 1613075 -285628 436796 11677714 134353 21229587 27422159 611810 4995455 495807 230110 152503 32151003 23399135 1919409 2468940 153654 57421 154250 27422159 26978214 384165 -3586844 178078 47294 151028 23399135 0.05360 0.83300 0.11340 1 0 2328478 2328478 43096692 19089752 24006940 17230376 6302612 10927764 9107086 7861287 1245799 5971737 3750271 2221466 40730447 ACCRUED INTEREST 59387 OBLIGATIONS UNDER SPLIT INTEREST AGREEMENT 185539 STUDENT AND OTHER DEPOSITS 224093 REFUNDABLE PERKINS LOAN ADVANCES 91353 FUNDS HELD IN TRUST FOR OTHERS 124074 DERIVATIVE LIABILITY 1959990 OTHER 16006 CAPITALIZED LEASE OBLIGATION 1257310 3917752 X 40989976 1054846 9334 1072398 2136578 38853398 314749 22378385 22693134 61546532 36619690 9334 827054 836388 35783302 314749 23370920 23685669 59468971 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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 UP 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, 2013, AND 2012, 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, 2010. PART XI, LINE 2D - OTHER ADJUSTMENTS: CASH VALUE OF LIFE INSURANCE 2,375. CHANGE IN INTEREST RATE SWAP 953,887. CHANGE IN VALUE OF SWAP INTEREST AGREEMENT 116,136. PART XI, LINE 4B - OTHER ADJUSTMENTS: CONSOLIDATED ORGANIZATION REVENUES -823,185. TUITION DISCOUNT 23,370,920. FUNDRAISING EXPENSE -169,350. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 169,350. CONSOLIDATED ORGANIZATIONS EXPENSES 657,704. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION DISCOUNT 23,370,920. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 MISSION, PROCLAMATION ON DIVERSITY PUBLISHED IN THE CATLOG, RECRUITMENT MATERIALS, ADMISSIONS MATERIALS AND WEBSITE. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE 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 EUROPE (INCLUDING ICELAND & GREENLAND) - 0 0 PROGRAM SERVICES STUDENT STUDY ABROAD PROGRAMS 261162 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDENT STUDY ABROAD PROGRAMS 49275 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDENT STUDY ABROAD PROGRAMS 132352 0 0 0 0 0 0 442789 0 442789 SCHOLARSHIPS EAST ASIA & THE PACIFIC 2 15000 SCHOLARSHIPS EUROPE 2 17500 SCHOLARSHIPS NORTH AMERICA 1 14000 SCHOLARSHIPS SOUTH AMERICA 3 53000 SCHOLARSHIPS SUB-SAHARAN AFRICA 1 18500 1 0 0 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: ALL ACTIVITY, INCLUDING CORRESPONDENCE, IS MAINTAINED AND SUMMARIZED EMERITUS EVENING 151173 136063 15110 22901 7013 EVENING OF ELEGANCE 137650 137490 160 11803 9693 3 369999 336822 33177 26107 37423 2800 51610 658822 610375 48447 26107 72127 2800 68316 169350 -120903 1 SCHOLARSHIPS 1731 23252920 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, 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 1 1 X X 1 0 0 0 0 0 0 0 0 JUAN R OLIVAREZ 218080 0 0 0 0 0 12847 0 7351 0 238278 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. PART I, LINE 4A GREGORY MCALEENAN $40,000 A MI HIGHER EDUCATION FACILITIES AUTHORITY 521285150 594519N30 2008-02-05 16325000 DEBT REFINANCING AND CAPITAL IMPROVEMENTS/ADDITIONS 0 0 0 A 16412871 10213342 188051 6011477 2010 1 0 1 1 A 0 0 0 0 1 0 0 A 0 1 0 0 1 1 0 0 0 0 0 A 0 GRAND RAPIDS DOMINICAN SISTERS SR.'S MEYER, GEARY, AND OOSDYKE, AQUINAS TRUSTEES AND MEMBERS OF THE ORG 290348 SR. NATHALIE MEYER, SR. MAUREEN GEARY, AND SR. MARY KAY OOSDYKE ARE LEASED EMPLOYEES BY AQUINAS COLLEGE. 0 X 4 22000 FAIR MARKET VALUE X 1949 FAIR MARKET VALUE X 24 76297 FAIR MARKET VALUE X FOOD 3 5059 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 4 THERE WERE TWO AMENDMENTS TO THE ARTICLES OF INCORPORATION: AMENDMENT TO ARTICLE VII: THE CORPORATION AND ITS COLLEGE SHALL BE MAINTAINED AND CONTROLLED BY A BOARD OF TRUSTEES WHICH SHALL CONSIST OF NOT LESS THAN 11 MEMBERS AND NOT MORE THAN 15 MEMBERS, WITH TWO OF THAT NUMBER 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. THE NUMBER OF MEMBERS WILL BE SET BY THE BOARD OF TRUSTEES WITHIN THE LIMITS OF THIS ARTICLE VII, ACTING ACCORDING TO STATUTE AND THE BYLAWS OF THIS CORPORATION. NEW ARTICLE XV-A: 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. 3. AN AMENDMENT TO ARTICLE VII OF THESE ARTICLES. 4. AN AMENDMENT TO ARTICLE VIII OF THESE ARTICLES. 5. AN AMENDMENT TO THIS ARTICLE XV-A. 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 REVIEW PROCESS STARTS WITH THE VP FOR FINANCE, THEN, THE ACCOUNTING FIRM WHO PERFORMED THE YEAR-END AUDIT, FOLLOWED BY THE BOARD OF TRUSTEES & TREASURER. THE TREASURER MAKES THE 990 AVAILABLE TO MEMBERS OF THE BUSINESS & FINANCE COMMITTEE OF THE BOARD, WHO ARE RESPONSIBLE FOR OVERSIGHT OF COLLEGE FINANCES. FORM 990, PART VI, SECTION B, LINE 12 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 2013. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS OPEN TO PUBLIC INSPECTION ARE MADE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: INCREASE IN CASH VALUE OF LIFE INSURANCE 2,375. CHANGE IN INTEREST RATE SWAP 953,887. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 116,136. 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 406283 ACTUAL