LAKE FOREST COLLEGE: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- LAKE FOREST COLLEGE (EIN 36-2167770)
- Tax period
- 2024-06-01 to 2025-05-31
- Filed
- 2026-04-15
- IRS object ID
- 202631059349301713
- Schema version
- 2024v5.5
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule C
- Schedule D
- Schedule E
- Schedule I
- Schedule J
- Schedule K
- Schedule L
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2026-04-15T12:25:40-05:00 | ReturnTs |
| Tax Period End | 2025-05-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 420714325 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RSM US LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 30 South Wacker Dr Suite 3300 | AddressLine1Txt |
| City | Chicago | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 606063392 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-06-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 362167770 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Lake Forest College | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | LAKE | BusinessNameControlTxt |
| Phone | 8472343100 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 555 N Sheridan Rd | AddressLine1Txt |
| City | Lake Forest | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 600452399 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Randy Barfield | PersonNm |
| Person Title | Interim VP of Finance | PersonTitleTxt |
| Phone | 8472343100 | PhoneNum |
| Signature | 2026-01-23 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Rebekuh Eley | PreparerPersonNm |
| PTIN | P01247672 | PTIN |
| Phone | 3126343400 | PhoneNum |
| Preparation | 2026-04-13 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | Michael Sosulski | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 555 N Sheridan Rd | AddressLine1Txt |
| City | Lake Forest | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 600452399 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $173,326,190 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | www.lakeforest.edu | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1857 | FormationYr |
| Legal Domicile State | IL | LegalDomicileStateCd |
| Activity Or Mission | Lake Forest College is a National Residential Liberal Arts College, accredited by the North Central Association of Colleges and Schools. | ActivityOrMissionDesc |
| Voting Members Governing Body | 34 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 34 | VotingMembersIndependentCnt |
| Total Employee | 1510 | TotalEmployeeCnt |
| Total Volunteers | 1000 | TotalVolunteersCnt |
| Total Gross UBI | $714,896 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $22,610,505 | PYContributionsGrantsAmt |
| CY Contributions Grants | $40,623,915 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $114,819,018 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $121,312,303 | CYProgramServiceRevenueAmt |
| PY Investment Income | $2,625,487 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,718,121 | CYInvestmentIncomeAmt |
| PY Other Revenue | $1,490,393 | PYOtherRevenueAmt |
| CY Other Revenue | $1,414,393 | CYOtherRevenueAmt |
| PY Total Revenue | $141,545,403 | PYTotalRevenueAmt |
| CY Total Revenue | $165,068,732 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $72,158,053 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $77,727,961 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $35,944,995 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $38,573,531 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $2,377,231 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $36,404,448 | PYOtherExpensesAmt |
| CY Other Expenses | $39,157,932 | CYOtherExpensesAmt |
| PY Total Expenses | $144,507,496 | PYTotalExpensesAmt |
| CY Total Expenses | $155,459,424 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$2,962,093 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $9,609,308 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $269,045,907 | TotalAssetsBOYAmt |
| Total Assets EOY | $287,159,838 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $57,413,941 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $55,480,077 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $211,631,966 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $231,679,761 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | Provide post-secondary education leading to a baccalaureate degree. Program service expenditures are made in conjunction with the operation of a liberal arts college spread over 107 acres with approximately 63 educational and support buildings. The College is accredited by the Higher Learning Commission, and had 1,814 undergraduate students and 23 graduate students with 144 full time faculty. Bachelor of arts degrees conferred were 434 during the year, with 14 master's degrees conferred. The College had approximately 1,250 resident students in the residence halls. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $104,214,280 | ExpenseAmt |
| Grant | $73,672,656 | GrantAmt |
| Revenue | $103,179,830 | RevenueAmt |
| Desc | Instruction and research includes expenses for all activities that are part of the instructional program and for activities specifically organized to produce research. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $19,326,851 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $18,353,929 | RevenueAmt |
| Desc | Student services are considered programmatic and include activities that contribute to student emotional and physical well-being and intellectual, cultural and social development outside the formal instructional program. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $16,118,352 | ExpenseAmt |
| Grant | $4,055,305 | GrantAmt |
| Revenue | $0 | RevenueAmt |
| Desc | Auxiliary enterprises include expenses relating to the operation of the auxiliary activities such as housing, dining services, and parking. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $139,659,483 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | Yes (1) | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | Yes (1) | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (1) | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | 0 | EscrowAccountInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | Yes (1) | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | Yes (1) | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 2296 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 1510 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 34 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 34 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (1) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | AK | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | CO | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | MA | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | MD | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | MI | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | OH | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | SC | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | WA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Alton J Rodino | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8477355039 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 555 N Sheridan Rd | AddressLine1Txt |
| City | Lake Forest | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 600452399 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (50 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| Jill Baren | |||||||
| President (until 12/10/24) | 50.00 | Yes (X) | Yes (X) | $709,690 | $0 | $26,330 | |
| William A Lowry '84 | |||||||
| Chairman | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| Robert D Krebs | |||||||
| Interim President | 50.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| Marisue Lacher P '22 | |||||||
| Vice Chairman | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| Earl J Barnes II '86 P '24 | |||||||
| Secretary | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| Michael Abello | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| M Mercedes Badia-Tavas | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Charles M Brennan III p '90 | |||||||
| '92, Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| William G Brown | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Devon C Bruce | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| John D Carruthers '78 | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Jessica Q Coleman '89 | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| William Connell M '17 | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Robert Crawford Jr | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Geoffrey M Curtis '97 | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Susan DuMont '07 | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Doni Fordyce-Urfirer '81 | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Karen F Frost '88 | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| David F Gorter '80 | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Vicki Angel Hagan '88 | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Cristen Kogl '88 | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Randall S Lauer '81 P '19 | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Dr Shao-Lee Lin | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| K Scott Meloun '81 | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Diana Moore | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Martino R Moore '99 | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Robert S Murley | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Craig Omtvedt | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Dr Angelique L Richard '85 | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Mark W Shadle '84 | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Lisa Smith P'23 | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Joanne Storkan P '10 | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Stephen C Strelsin | |||||||
| Trustee (until 5/31/25) | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Alexander D Stuart | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Sean W Thomas '81 | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Claudia Wyatt-Johnson '69 | |||||||
| Trustee | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| Lori Sundberg | |||||||
| VP for Finance/Planning; Treasurer | 50.00 | Yes (X) | $281,169 | $0 | $14,371 | ||
| Christopher Ellertson | |||||||
| Vice President for Campus Life | 50.00 | Yes (X) | $239,646 | $0 | $28,854 | ||
| Jacqueline Slaats | |||||||
| VP for Career Advancement/Athletics | 50.00 | Yes (X) | $196,406 | $0 | $25,307 | ||
| Ravikant Agarwal | |||||||
| Chief Information Officer | 50.00 | Yes (X) | $184,936 | $0 | $21,561 | ||
| Jacqueline Hoefler | |||||||
| VP for Marketing and Communication | 50.00 | Yes (X) | $149,033 | $0 | $32,243 | ||
| Katie Sue Spieth | |||||||
| VP for Advancement and Secretary | 50.00 | Yes (X) | $240,525 | $0 | $12,021 | ||
| Edward Whipple Interim VP | |||||||
| & Dean of Students (until 5/31/25) | 50.00 | Yes (X) | $0 | $0 | $0 | ||
| Tara Natarajan | |||||||
| Provost and Dean of Faculty | 50.00 | Yes (X) | $185,474 | $0 | $44,159 | ||
| Kevin Howley VP for Finance | |||||||
| and Institution (until 5/23/25) | 50.00 | Yes (X) | $58,750 | $0 | $1,300 | ||
| Davis Schneiderman Exec Dir | |||||||
| of the Krebs Center for Humanities | 50.00 | $207,868 | $0 | $43,649 | Yes (X) | ||
| Richard Bartolozzi | |||||||
| Senior Director of Gift Planning | 50.00 | $164,900 | $0 | $25,108 | Yes (X) | ||
| Dejuran Richardson | |||||||
| Professor of Mathematics | 50.00 | $140,027 | $0 | $15,846 | Yes (X) | ||
| Janet McCracken | |||||||
| Professor of Philosophy | 50.00 | $143,840 | $0 | $23,591 | Yes (X) | ||
| Gerard Cebrzynski | |||||||
| Senior Associate VP of Finance | 50.00 | $137,804 | $0 | $23,191 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,040,068 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $337,531 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 45 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| Parkhurst Dining | |||||
| PO Box 644091 | Pittsburgh | PA | 15264 | Campus Food Services | $7,360,333 |
| Aramark Services Inc | |||||
| 27310 Network Place | Chicago | IL | 60673 | Custodial Services | $2,164,365 |
| Hill Mechanical Corp | |||||
| 11045 Gage Ave | Franklin Park | IL | 60131 | Construction and Maintenance Services | $1,801,846 |
| Wellington Homes Inc | |||||
| 228 Bluff Ct | Barrington | IL | 60010 | General Contractor | $1,577,954 |
| Blackhawk Electronical Construction LLC | |||||
| PO Box 861 | New Lenox | IL | 60451 | Electrical Contracting Services | $737,060 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 46 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $4,093,266 | GovernmentGrantsAmt |
| All Other Contributions | $36,530,649 | AllOtherContributionsAmt |
| Noncash Contributions | $9,847,934 | NoncashContributionsAmt |
| Total Contributions | $40,623,915 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| Tuition and Fees | 611310 | $102,798,811 | $102,798,811 |
| Residence Hall and Board Plan | 611310 | $17,239,441 | $17,239,441 |
| Other Sources | 611310 | $893,032 | $893,032 |
| Graduate Program | 611310 | $381,019 | $381,019 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $121,312,303 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $279,532 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $260,309 | UnrelatedBusinessRevenueAmt |
| Exclusion | $19,223 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $955,331 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $955,331 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $955,331 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $221,456 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $733,875 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $9,659,166 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $8,120,203 | SecuritiesAmt |
| Other | $100,374 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,538,963 | SecuritiesAmt |
| Other | -$100,374 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,438,589 | TotalRevenueColumnAmt |
| Exclusion | $1,438,589 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $41,356 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $36,881 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,475 | TotalRevenueColumnAmt |
| Exclusion | $4,475 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|
| Ice Rink and Sports Center | 713990 | $365,765 | $365,765 |
| Glen Rowan Guest House | 721000 | $77,260 | $77,260 |
| Print Shop | 323100 | $11,562 | $11,562 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $454,587 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $165,068,732 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $121,533,759 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $714,896 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,196,162 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $77,727,961 | TotalAmt |
| Program Services | $77,727,961 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,410,613 | TotalAmt |
| Program Services | $829,394 | ProgramServicesAmt |
| Management And General | $1,175,794 | ManagementAndGeneralAmt |
| Fundraising | $405,425 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $28,070,104 | TotalAmt |
| Program Services | $23,324,373 | ProgramServicesAmt |
| Management And General | $3,989,200 | ManagementAndGeneralAmt |
| Fundraising | $756,531 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,653,794 | TotalAmt |
| Program Services | $1,310,513 | ProgramServicesAmt |
| Management And General | $280,237 | ManagementAndGeneralAmt |
| Fundraising | $63,044 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,361,922 | TotalAmt |
| Program Services | $3,456,508 | ProgramServicesAmt |
| Management And General | $739,133 | ManagementAndGeneralAmt |
| Fundraising | $166,281 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,077,098 | TotalAmt |
| Program Services | $1,645,950 | ProgramServicesAmt |
| Management And General | $351,967 | ManagementAndGeneralAmt |
| Fundraising | $79,181 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $313,296 | TotalAmt |
| Management And General | $313,296 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $111,167 | TotalAmt |
| Management And General | $111,167 | ManagementAndGeneralAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,850 | TotalAmt |
| Management And General | $15,850 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $661,428 | TotalAmt |
| Management And General | $661,428 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,244,225 | TotalAmt |
| Program Services | $9,555,320 | ProgramServicesAmt |
| Management And General | $1,273,828 | ManagementAndGeneralAmt |
| Fundraising | $415,077 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $34,017 | TotalAmt |
| Program Services | $18,480 | ProgramServicesAmt |
| Management And General | $14,876 | ManagementAndGeneralAmt |
| Fundraising | $661 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,745,765 | TotalAmt |
| Program Services | $1,298,882 | ProgramServicesAmt |
| Management And General | $339,804 | ManagementAndGeneralAmt |
| Fundraising | $107,079 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,055,786 | TotalAmt |
| Program Services | $260,686 | ProgramServicesAmt |
| Management And General | $680,731 | ManagementAndGeneralAmt |
| Fundraising | $114,369 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,915,204 | TotalAmt |
| Program Services | $8,195,406 | ProgramServicesAmt |
| Management And General | $1,688,218 | ManagementAndGeneralAmt |
| Fundraising | $31,580 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,389,148 | TotalAmt |
| Program Services | $1,317,466 | ProgramServicesAmt |
| Management And General | $11,964 | ManagementAndGeneralAmt |
| Fundraising | $59,718 | FundraisingAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $693,284 | TotalAmt |
| Program Services | $511,532 | ProgramServicesAmt |
| Management And General | $61,558 | ManagementAndGeneralAmt |
| Fundraising | $120,194 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,389,291 | TotalAmt |
| Program Services | $2,226,081 | ProgramServicesAmt |
| Management And General | $163,210 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,053,341 | TotalAmt |
| Program Services | $6,848,066 | ProgramServicesAmt |
| Management And General | $205,275 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,086,125 | TotalAmt |
| Program Services | $148,500 | ProgramServicesAmt |
| Management And General | $937,625 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (2 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| Equipment and Leases | $1,420,291 | $984,365 | $377,835 | $58,091 |
| UBI Taxes | $29,714 | $29,714 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $155,459,424 | TotalAmt |
| Program Services | $139,659,483 | ProgramServicesAmt |
| Management And General | $13,422,710 | ManagementAndGeneralAmt |
| Fundraising | $2,377,231 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,751,714 | BOYAmt |
| EOY | $1,080,359 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $85,000 | BOYAmt |
| EOY | $15,512,615 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,165,634 | BOYAmt |
| EOY | $1,850,068 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,502,265 | BOYAmt |
| EOY | $4,575,647 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $381,947 | BOYAmt |
| EOY | $220,523 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $49,415 | BOYAmt |
| EOY | $49,397 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,740,278 | BOYAmt |
| EOY | $1,933,282 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $238,482,425 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $100,232,011 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $137,255,594 | BOYAmt |
| EOY | $138,250,414 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $70,954 | BOYAmt |
| EOY | $0 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $114,702,177 | BOYAmt |
| EOY | $121,331,987 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,060,095 | BOYAmt |
| EOY | $2,158,819 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $280,834 | BOYAmt |
| EOY | $196,727 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $269,045,907 | BOYAmt |
| EOY | $287,159,838 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,249,998 | BOYAmt |
| EOY | $7,474,924 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $368,748 | BOYAmt |
| EOY | $224,359 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,949,410 | BOYAmt |
| EOY | $3,493,392 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $42,604,091 | BOYAmt |
| EOY | $42,119,403 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,000,000 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,241,694 | BOYAmt |
| EOY | $2,167,999 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $57,413,941 | BOYAmt |
| EOY | $55,480,077 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $96,343,797 | BOYAmt |
| EOY | $102,351,544 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $115,288,169 | BOYAmt |
| EOY | $129,328,217 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $211,631,966 | BOYAmt |
| EOY | $231,679,761 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $269,045,907 | BOYAmt |
| EOY | $287,159,838 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $9,609,308 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $10,411,009 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $27,478 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (1) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Volunteers | Yes (1) | VolunteersInd |
| Paid Staff Or Management | 0 | PaidStaffOrManagementInd |
| Media Advertisements | 0 | MediaAdvertisementsInd |
| Mailings Members | Yes (1) | MailingsMembersInd |
| Mailings Members | $340 | MailingsMembersAmt |
| Publications Or Broadcast | 0 | PublicationsOrBroadcastInd |
| Grants Other Organizations | 0 | GrantsOtherOrganizationsInd |
| Direct Contact Legislators | Yes (1) | DirectContactLegislatorsInd |
| Direct Contact Legislators | $15,255 | DirectContactLegislatorsAmt |
| Rallies Demonstrations | Yes (1) | RalliesDemonstrationsInd |
| Rallies Demonstrations | $255 | RalliesDemonstrationsAmt |
| Other Activities | 0 | OtherActivitiesInd |
| Total Lobbying Expenditures | $15,850 | TotalLobbyingExpendituresAmt |
| Not Described Section501c3 | 0 | NotDescribedSection501c3Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part II-B, Line 1: | FormAndLineReferenceDesc |
| Explanation | Members of the College or Trustees may occasionally contact legislators to express the College's views on pending legislation which could affect costs or the students. Students of the College have rallied for specific legislative actions, and they have participated in volunteer efforts of laws and regulations. The College paid two vendors a total of $7,278 and $17,011 in fiscal year 2024-2025, and only 7% and 2%, respectively, of these fees were allocated to lobbying efforts. The College also paid an additional vendor $15,000 for assistance with lobbying the State of Illinois for Capital Grants and 100% of these fees were allocated to lobbying efforts. | ExplanationTxt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Collection Used Pub Exhibition | Yes (X) | CollectionUsedPubExhibitionInd |
| Collection Used Preservation | Yes (X) | CollectionUsedPreservationInd |
Collection Used Other Purposes CollectionUsedOtherPurposesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Collection Used Other Purposes | Yes (X) | CollectionUsedOtherPurposesInd |
| Other Purposes | Teaching | OtherPurposesDesc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Solicited Assets Sale | 0 | SolicitedAssetsSaleInd |
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $123,504,020 | BeginningYearBalanceAmt |
| Contributions | $9,559,119 | ContributionsAmt |
| Investment Earnings Or Losses | $11,287,513 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $2,887,122 | GrantsOrScholarshipsAmt |
| Other Expenditures | $5,712,379 | OtherExpendituresAmt |
| End Year Balance | $135,751,151 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $112,193,194 | BeginningYearBalanceAmt |
| Contributions | $3,891,195 | ContributionsAmt |
| Investment Earnings Or Losses | $13,419,317 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $2,014,283 | GrantsOrScholarshipsAmt |
| Other Expenditures | $3,985,403 | OtherExpendituresAmt |
| End Year Balance | $123,504,020 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $105,290,305 | BeginningYearBalanceAmt |
| Contributions | $11,340,810 | ContributionsAmt |
| Investment Earnings Or Losses | $1,560,611 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $2,013,896 | GrantsOrScholarshipsAmt |
| Other Expenditures | $3,984,636 | OtherExpendituresAmt |
| End Year Balance | $112,193,194 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $104,553,727 | BeginningYearBalanceAmt |
| Contributions | $11,824,099 | ContributionsAmt |
| Investment Earnings Or Losses | -$5,687,521 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,892,031 | GrantsOrScholarshipsAmt |
| Other Expenditures | $3,507,969 | OtherExpendituresAmt |
| End Year Balance | $105,290,305 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $84,192,908 | BeginningYearBalanceAmt |
| Contributions | $4,256,321 | ContributionsAmt |
| Investment Earnings Or Losses | $21,775,477 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,914,390 | GrantsOrScholarshipsAmt |
| Other Expenditures | $3,756,589 | OtherExpendituresAmt |
| End Year Balance | $104,553,727 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.14800 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.84900 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.00300 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,700,287 | OtherCostOrOtherBasisAmt |
| Book Value | $3,700,287 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $2,336,077 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $225,069,353 | OtherCostOrOtherBasisAmt |
| Depreciation | $96,595,065 | DepreciationAmt |
| Book Value | $130,810,365 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,425,288 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,636,946 | DepreciationAmt |
| Book Value | $788,342 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,951,420 | OtherCostOrOtherBasisAmt |
| Book Value | $2,951,420 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $138,250,414 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (3 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| Liquid Market Fund | $15,302,468 | F |
| Second Mortgages for Employees | $306,483 | C |
| Alternative Investments | $105,723,036 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $121,331,987 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| Annuities | $650,630 |
| Post-Retirement and Post-Employment Benefits | $1,320,642 |
| Operating Lease Liabilities | $196,727 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $2,167,999 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $97,088,116 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $10,411,009 | NetUnrealizedGainsInvstAmt |
| Other Revenue | -$77,730,197 | OtherRevenueAmt |
| Revenue Not Reported | -$67,319,188 | RevenueNotReportedAmt |
| Revenue Subtotal | $164,407,304 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $661,428 | InvestmentExpensesNotIncldAmt |
| Revenue Not Reported Fincl Stmt | $661,428 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $165,068,732 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $77,040,321 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $77,040,321 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $661,428 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $77,757,675 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $78,419,103 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $155,459,424 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Part III, Line 1a: | Collections and works of art: Collections (musical instruments, historical treasures and similar treasures held as part of collections), which were acquired through purchases or contributions since the College's inception, are not reflected in the statements of financial position. As of May 31, 2025 and 2024, the insured value of these items was approximately $4,500,000. In addition, as of May 31, 2025 and 2024, the College has a Life Estate interest in artwork and museum furnishings valued at approximately $4,400,000. The collections are subject to the College's policy that requires proceeds from their sales to be used for direct care of collections or acquire other items for collection. There were no amounts realized for deaccession of collections for the year ended May 31, 2025 and 2024. |
| Part III, Line 4: | Teaching, research, exhibition and publication are the foremost ongoing goals of the gallery's permanent collection. To best serve the Lake Forest College community and its non-community constituents, the gallery will continue to collect the best of the past and the present, acquiring art that is of high aesthetic quality and historic importance, objects representative of major period styles and significant movements and directions, objects consonant with the gallery's current holdings. |
| Part V, Line 4: | The College's endowment provides revenue to support the general operations of the College primarily for academic and scholarship programs. Individual funds are managed by the donor's intent. |
| Part X, Line 2: | The College has received a determination letter from the Internal Revenue Service indicating that it is a tax-exempt organization as provided in Section 501(c)(3) of the Internal Revenue Code of 1986 and, except for taxes pertaining to unrelated business income, is exempt from federal and state income taxes. The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the College may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the College and various positions related to the potential sources of unrelated business taxable income (UBIT). The College has no amounts accrued for interest or penalties as of May 31, 2025. There were no unrecognized tax benefits identified or recorded as liabilities for the reporting periods presented in these statements. |
| Part XI, Line 2d - Other Adjustments: | Change in Value of Beneficial Interests / Split Interest Agreements 23,774. Change in Post-Retirement / Post-Employment Liability 3,704. Scholarships -77,727,961. UBI Taxes -29,714. |
| Part XII, Line 4b - Other Adjustments: | Scholarships 77,727,961. UBI Taxes 29,714. |
| Schedule D, Part XI, Line 4(b) - Scholarships | Scholarships awarded are shown net of revenue on the audited financial statements. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (1) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (1) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (1) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (1) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (1) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (1) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (1) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | 0 | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | 0 | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | 0 | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | 0 | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | 0 | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | 0 | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | Yes (1) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule E, Part I, Line 3 | The College uses its website, posters and its recruitment literature to advertise its nondiscrimination policy. At least 40 percent of the students come from outside the Illinois region, so this method has been more effective than using newspaper or broadcasting media. |
| Schedule E, Part I, Line 6 | The College receives funds from the Department of Education on behalf of students. Programs include the Federal Pell Grant program, Federal Supplemental Opportunity Grant, Federal Perkins Loan program, Federal Direct Lending, and Federal Work-Study program. The College also receives grants from the National Science Foundation. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | Scholarships | GrantTypeTxt |
| Recipient | 1904 | RecipientCnt |
| Cash Grant | $77,727,961 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part I, Line 2: | FormAndLineReferenceDesc |
| Explanation | Scholarships are awarded to students on the basis of need and merit. The amount of the award is applied directly to the student's account. All records and amounts are substantiated in the records of the financial aid office. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Housing Allowance Or Residence | Yes (X) | HousingAllowanceOrResidenceInd |
| Personal Services | Yes (X) | PersonalServicesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | Yes (1) | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (13 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jill Baren | ||||||||||||||
| President (until 12/10/24) | $491,052 | $0 | $50,000 | $0 | $168,638 | $0 | $21,438 | $0 | $4,892 | $0 | $736,020 | $0 | $0 | $0 |
| Lori Sundberg | ||||||||||||||
| VP for Finance/Planning; Treasurer | $116,015 | $0 | $0 | $0 | $165,154 | $0 | $8,250 | $0 | $6,121 | $0 | $295,540 | $0 | $0 | $0 |
| Christopher Ellertson | ||||||||||||||
| Vice President for Campus Life | $236,153 | $0 | $0 | $0 | $3,493 | $0 | $16,833 | $0 | $12,021 | $0 | $268,500 | $0 | $0 | $0 |
| Katie Sue Spieth | ||||||||||||||
| VP for Advancement and Secretary | $224,842 | $0 | $7,500 | $0 | $8,183 | $0 | $0 | $0 | $12,021 | $0 | $252,546 | $0 | $0 | $0 |
| Davis Schneiderman Exec Dir | ||||||||||||||
| of the Krebs Center for Humanities | $136,406 | $0 | $0 | $0 | $71,462 | $0 | $12,115 | $0 | $31,534 | $0 | $251,517 | $0 | $0 | $0 |
| Tara Natarajan | ||||||||||||||
| Provost and Dean of Faculty | $184,841 | $0 | $0 | $0 | $633 | $0 | $14,105 | $0 | $30,054 | $0 | $229,633 | $0 | $0 | $0 |
| Jacqueline Slaats | ||||||||||||||
| VP for Career Advancement/Athletics | $194,670 | $0 | $0 | $0 | $1,736 | $0 | $13,919 | $0 | $11,388 | $0 | $221,713 | $0 | $0 | $0 |
| Ravikant Agarwal | ||||||||||||||
| Chief Information Officer | $183,210 | $0 | $0 | $0 | $1,726 | $0 | $17,061 | $0 | $4,500 | $0 | $206,497 | $0 | $0 | $0 |
| Richard Bartolozzi | ||||||||||||||
| Senior Director of Gift Planning | $163,501 | $0 | $0 | $0 | $1,399 | $0 | $13,329 | $0 | $11,779 | $0 | $190,008 | $0 | $0 | $0 |
| Jacqueline Hoefler | ||||||||||||||
| VP for Marketing and Communication | $148,863 | $0 | $0 | $0 | $170 | $0 | $12,024 | $0 | $20,219 | $0 | $181,276 | $0 | $0 | $0 |
| Janet McCracken | ||||||||||||||
| Professor of Philosophy | $136,479 | $0 | $0 | $0 | $7,361 | $0 | $11,191 | $0 | $12,400 | $0 | $167,431 | $0 | $0 | $0 |
| Gerard Cebrzynski | ||||||||||||||
| Senior Associate VP of Finance | $136,657 | $0 | $0 | $0 | $1,147 | $0 | $11,170 | $0 | $12,021 | $0 | $160,995 | $0 | $0 | $0 |
| Dejuran Richardson | ||||||||||||||
| Professor of Mathematics | $44,326 | $0 | $46,240 | $0 | $49,461 | $0 | $7,399 | $0 | $8,447 | $0 | $155,873 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Part I, Line 1a | Off-campus housing was provided to the President (Jill Baren) as a condition of employment and is nontaxable under IRC 119. The College purchases cleaning services for the President's off-campus housing due to hosting college sponsored events at this location. The services are non-taxable. |
| Part I, Line 7 | Beginning with the 2023-2024 fiscal year, the President will be able to participate in an annual Short-Term Incentive Plan (STIP) sponsored by the College. The President is eligible for awards ranging from zero to 20% of their annual base salary based on a variety of factors that the Compensation Committee considers in their decision. The Chair of the Compensation Committee of the Board established the performance goals and objectives. Incentive compensation payable under the STIP with respect to the fiscal year, if any, shall be paid to the President as soon as administratively practicable following the end of the fiscal year after approval of the College's audited financial statements by the Financial Stewardship Committee. Beginning with the 2023-2024 fiscal year, Katie Sue Spieth will be eligible to receive incentive pay of 3% of base salary in addition to any cost-of-living salary increases based on performance. This will increase by 1-2% annually to a maximum of 10% in year 5 of employment with the College. Incentive pay increases will be determined by a variety of factors that the Compensation Committee considers in their decision. Dejuran Richardson received a nonfixed payment as part of tenure relinquishment offered to all tenured faculty. Tenure relinquishment applications are reviewed by the Dean of Faculty who then makes recommendations to the President. After the President's approval, Dejuran Richardson will be receiving a 25% payout of his base salary on an annual basis plus 1% of his base salary multiplied by his total number of years of service. |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (2 entries)
| Bond ReferenceBondReferenceCd | Bond Issuer EINBondIssuerEIN | CUSIPCUSIPNum | Bond IssuedBondIssuedDt | Issue PriceIssuePriceAmt | PurposePurposeDesc | DefeasedDefeasedInd | On Behalf Of IssuerOnBehalfOfIssuerInd | Pool FinancingPoolFinancingInd |
|---|---|---|---|---|---|---|---|---|
| Illinois Finance Authority | ||||||||
| A | 861091967 | 45200FMP1 | 2008-08-21 | $6,000,000 | Construction of Residence Hall | 0 | 0 | 0 |
| Illinois Finance Authority Revenue Refunding | ||||||||
| B | 861091967 | 000000000 | 2022-06-13 | $38,150,000 | Construction and Refinance of 2012 and 2014 Bonds | 0 | 0 | 0 |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (2 entries)
| Bond ReferenceBondReferenceCd | Total ProceedsTotalProceedsAmt | Issuance Costs From ProceedsIssuanceCostsFromProceedsAmt | Capital ExpendituresCapitalExpendituresAmt | Substantial CompletionSubstantialCompletionYr | Refunding Tax Exempt BondsRefundingTaxExemptBondsInd | Refunding Taxable BondsRefundingTaxableBondsInd | Final Allocation MadeFinalAllocationMadeInd | Adequate Books And Rec MaintAdequateBooksAndRecMaintInd | RetiredRetiredAmt | Other Spent ProceedsOtherSpentProceedsAmt |
|---|---|---|---|---|---|---|---|---|---|---|
| A | $6,044,822 | $138,011 | $5,906,811 | 2010 | 0 | 0 | Yes (1) | Yes (1) | ||
| B | $38,902,603 | $751,010 | $13,529,424 | 2022 | Yes (1) | 0 | Yes (1) | Yes (1) | $520,000 | $24,622,169 |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (2 entries)
| Bond ReferenceBondReferenceCd | Owning Bond Financed PropertyOwningBondFinancedPropertyInd | Any Lease ArrangementsAnyLeaseArrangementsInd | Mgmt Contract Bond Fincd PropMgmtContractBondFincdPropInd | Any Research AgreementsAnyResearchAgreementsInd | Bond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestInd | Change In Use Bond Financed PropChangeInUseBondFinancedPropInd | Procs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd |
|---|---|---|---|---|---|---|---|
| A | 0 | 0 | 0 | 0 | 0 | 0 | Yes (1) |
| B | 0 | 0 | 0 | 0 | 0 | 0 | Yes (1) |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (2 entries)
| Bond ReferenceBondReferenceCd | Form8038 T FiledForm8038TFiledInd | Rebate Not Due YetRebateNotDueYetInd | Exception To RebateExceptionToRebateInd | No Rebate DueNoRebateDueInd | Variable Rate IssueVariableRateIssueInd | Hedge Identified In Bks And RecHedgeIdentifiedInBksAndRecInd | Gross Proceeds Invested In GICGrossProceedsInvestedInGICInd | Gross Proceeds InvestedGrossProceedsInvestedInd | Written Proc To Monitor ReqsWrittenProcToMonitorReqsInd |
|---|---|---|---|---|---|---|---|---|---|
| A | 0 | 0 | 0 | Yes (1) | Yes (1) | 0 | 0 | 0 | Yes (1) |
| B | 0 | 0 | 0 | Yes (1) | Yes (1) | 0 | 0 | 0 | Yes (1) |
Procedures Corrective Action ProceduresCorrectiveActionGrp (2 entries)
| Bond ReferenceBondReferenceCd | Procedures Corrective ActionProceduresCorrectiveActionInd |
|---|---|
| A | Yes (1) |
| B | Yes (1) |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Date Rebate Computation Performed | FormAndLineReferenceDesc |
| Explanation | Issuer Name: Illinois Finance Authority Date the Rebate Computation was Performed: 07/31/2018 | ExplanationTxt |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Substantial Contributor | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | Substantial Contributor | RelationshipDescriptionTxt |
| Transaction | $7,375,934 | TransactionAmt |
| Transaction | Independent Contractor Arrangement | TransactionDesc |
| Sharing Of Revenues | 0 | SharingOfRevenuesInd |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 20 | ContributionCnt |
| Noncash Contributions Rpt F990 | $9,847,934 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8283 Received | 0 | Form8283ReceivedCnt |
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | Yes (1) | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | 0 | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part I, Column (b): | FormAndLineReferenceDesc |
| Explanation | Reporting the number of contributions. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Section A, line 1a | The Executive Committee shall consist of the Chairperson of the Board, the Vice Chairpersons of the Board, the Secretary of the Board, the President of the College, and such other Trustees as may be appointed to the Executive Committee by the Board of Trustees. Only present Charter Trustees shall be entitled to vote or need be counted for purposes of a quorum at meetings of the Executive Committee. The Executive Committee shall serve at the pleasure of the Board of Trustees and shall have interim general charge of the affairs of the College. The Executive Committee shall have power to act and to exercise all authority vested in the Board between regular meetings of said Board, except for the following, which shall be reserved for the Board: Presidential selection and termination; Trustee and Board-Officer election; changes in institutional mission and purposes; changes to the Charter, Articles of Incorporation, and Bylaws; incurring of College indebtedness; sale of College assets or tangible property; adoption of the annual budget; and conferral of degrees. The Executive Committee shall assist the Chairperson of the Board and President with their joint responsibility to help the Board function effectively and efficiently by suggesting Board meeting agenda items and periodically assessing the quality of Committee work. The Committee shall report its actions at the next meeting of the Board of Trustees. |
| Form 990, Part VI, Section A, line 4 | The Bylaws were updated in September of 2024 to ensure alignment with current Board practice, College Charter, applicable Illinois Statutes, and best practices. The updates included: - Clarifying powers of the Board, Officers, and Executive Committee - Renaming of Trustee categories - Increasing size of Board and Executive Committee - Implementing term limits - Clarifying voting rights - Enhancing transparency of process to nominate, elect, and remove an Officer - Increase quorum for non-supermajority actions to 3/5 - Requiring supermajority vote to amend Bylaws |
| Form 990, Part VI, Section B, line 11b | The Form 990 is reviewed by the VP for Finance and AVP for Business. RSM presents the Form 990 to the Financial Stewardship Committee to approve prior to filing. The College also provides a copy of the Form 990 to the Board of Trustees on a secure website prior to filing the form with the IRS. |
| Form 990, Part VI, Section B, line 12c | All interested persons are required to disclose conflicts annually. Forms are sent to Board Members, Senior Administrators, and all Department Managers. The Secretary of the College accumulates all disclosure statements for Board Members and furnishes them to the Chairman of the Board. The Secretary of the College reports to the Chairman of the Board those individuals who fail to furnish an annual statement. Board Members and Senior Administrators who have declared a conflict of interest, or who have been found to have a conflict of interest, shall refrain from participating in any proposed transactions involving outside interest held by the Board Member or Senior Administrator. This includes consideration of the transaction or voting, unless the Board or Administration requests information or interpretation for special reasons that are stated on the record or in writing. Should a determination regarding the existence of a conflict of interest matter require an Executive Committee or Board vote to resolve, those concerned shall not be present at the time of the vote. The VP of Finance collects and reviews the forms which are not Board Members or Senior Administrators. Compliance is checked by the VP of Finance, and conflicts are resolved with the review of the President. Noncompliance is a performance issue and appropriate actions are taken. |
| Form 990, Part VI, Section B, line 15 | The College has a Total Compensation Philosophy which has been approved by the Compensation Committee of the Board of Trustees and has been communicated to all Staff. Compensation for the President is targeted at the median of the defined Peer Group. The Peer Group of Colleges includes the Associated Colleges of the Midwest (ACM) and the Great Lakes Colleges Association (GLCA). The Compensation Committee periodically reviews IRS Form 990 filings from both groups as well as the ACM and GLCA and CUPA surveys to ensure that total compensation levels for the President conforms to the approved Total Compensation Policy. These procedures were undertaken in our fiscal year, which was June 1, 2024 through May 31, 2025, and calendar year 2024. |
| Form 990, Part VI, Section C, line 19 | Documents are available on the College's internal website, and available upon request if intranet access is not granted. Also the Form is available as public information through external websites. |
| Form 990, Part XI, line 9: | Change in Value of Beneficial Interest / Split Interest Agreements 23,774. Change in Post-Retirement / Post-Employment Liability 3,704. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LFC Investment Holdings LP | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 550 S Tryon St Suite 3500 Global En | AddressLine1Txt |
| City | Charlotte | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28202 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 364797996 | EIN |
| Primary Activities | Investments | PrimaryActivitiesTxt |
| Legal Domicile State | DE | LegalDomicileStateCd |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Predominant Income Type | Excluded | PredominantIncomeTypeTxt |
| Share Of Total Income | $9,813,364 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $99,723,019 | ShareOfEOYAssetsAmt |
| Disproportionate Allocations | 0 | DisproportionateAllocationsInd |
| UBI Code V | $209,243 | UBICodeVAmt |
| General Or Managing Partner | 0 | GeneralOrManagingPartnerInd |
| Ownership | 1.00000 | OwnershipPct |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Charitable Remainder Trusts (4) | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 555 N Sheridan Rd | AddressLine1Txt |
| City | Lake Forest | CityNm |
| State Abbreviation | IL | StateAbbreviationCd |
| ZIP | 60045 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Primary Activities | Trusts | PrimaryActivitiesTxt |
| Legal Domicile State | IL | LegalDomicileStateCd |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Entity Type | T | EntityTypeTxt |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |