2024-04-03T18:57:03-05:00 2023-06-30 390859910 BAKER TILLY US LLP 790 N WATER ST SUITE 2000 MILWAUKEE WI 53202 990 2022-07-01 390826049 RIPON COLLEGE RIPO 9207488108 PO BOX 248 RIPON WI 54971 STEPHEN COAN VP FOR FINANCE 9207488108 2024-04-03 1 STEPHEN COAN XXX-XX-XXXX 1 TROY MARINE CPA P00187863 4147775500 2024-04-03 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z VICTORIA FOLSE 300 WEST SEWARD STREET RIPON WI 54971 84545765 0 X WWW.RIPON.EDU X 1851 WI RIPON COLLEGE PREPARES STUDENTS OF DIVERSE INTERESTS FOR LIVES OF PRODUCTIVE, SOCIALLY RESPONSIBLE CITIZENSHIP. OUR LIBERAL ARTS CURRICULUM AND RESIDENTIAL CAMPUS CREATE AN INTIMATE LEARNING COMMUNITY IN WHICH STUDENTS EXPERIENCE A RICHLY PERSONALIZED EDUCATION. 33 32 699 32 455282 193705 10839336 21353631 43511684 41996170 14852603 11404772 540122 653667 69743745 75408240 25372579 25047642 0 0 13922823 14595172 0 0 1335659 15877234 15950672 55172636 55593486 14571109 19814754 179589741 193739392 40908456 39463813 138681285 154275579 X RIPON COLLEGE PREPARES STUDENTS OF DIVERSE INTERESTS FOR LIVES OF PRODUCTIVE, SOCIALLY RESPONSIBLE CITIZENSHIP. OUR LIBERAL ARTS CURRICULUM AND RESIDENTIAL CAMPUS CREATE AN INTIMATE LEARNING COMMUNITY IN WHICH STUDENTS EXPERIENCE A RICHLY PERSONALIZED EDUCATION. 0 0 49212856 25047642 41996170 RIPON COLLEGE, AN ACCREDITED PRIVATE INSTITUTION, PROVIDES A FOUR-YEAR DEGREE PROGRAM IN THE LIBERAL ARTS. THIS EDUCATIONAL PROGRAM BENEFITS MORE THAN 673 FULL TIME EQUIVALENT STUDENTS. 49212856 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 909 0 1 699 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 33 32 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 WI X STEPHEN COAN 9207488108 300 WEST SEWARD STREET RIPON WI 54971 VICTORIA FOLSE PRESIDENT (AS OF 07/2022) 40.00 X X 135142 0 16306 THOMAS W ABENDROTH TRUSTEE/CHAIR 1.00 X X 0 0 0 CONNIE MOSER TRUSTEE/VICE CHAIR 1.00 X X 0 0 0 MARK FRANZEN TRUSTEE/SECRETARY 1.00 X X 0 0 0 MARTIN LINDSAY TRUSTEE/TREASURER 1.00 X X 0 0 0 ABBEGAYLE LANE SPECIAL GRADUATE 1.00 X 0 0 0 ALEXANDER LEVIS TRUSTEE 1.00 X 0 0 0 ALICE ARCHABAL TRUSTEE 1.00 X 0 0 0 ANDREW KITSLAAR TRUSTEE (TERM. 07/2022) 1.00 X 0 0 0 BLAINE GIBSON TRUSTEE 1.00 X 0 0 0 CAMERON KLEIN TRUSTEE 1.00 X 0 0 0 CAMILLE CLEMONS TRUSTEE 1.00 X 0 0 0 DANTE HOUSTON TRUSTEE 1.00 X 0 0 0 DAVID JANSSEN TRUSTEE 1.00 X 0 0 0 DEBORAH LAHTEINE TRUSTEE 1.00 X 0 0 0 ELIZABETH PECHA-POELKER TRUSTEE 1.00 X 0 0 0 EUGENE SCHNEIDER TRUSTEE 1.00 X 0 0 0 GEORGE ZORNADA TRUSTEE 1.00 X 0 0 0 HOLLY LIFKE SPECIAL GRADUATE 1.00 X 0 0 0 JAMES R CLARK TRUSTEE 1.00 X 0 0 0 JOHN H WOLFE TRUSTEE 1.00 X 0 0 0 JOSEPH TOLAN TRUSTEE (TERM. 06/2022) 1.00 X 0 0 0 KENNETH PINCKNEY TRUSTEE 1.00 X 0 0 0 KIMBERLY WOOLEY TRUSTEE 1.00 X 0 0 0 LISA WOLLAN TRUSTEE 1.00 X 0 0 0 MICHAEL MILBURN TRUSTEE 1.00 X 0 0 0 PENELOPE GREENE TRUSTEE 1.00 X 0 0 0 PETER TUZ TRUSTEE 1.00 X 0 0 0 PHILIP K MCCULLOUGH MD TRUSTEE 1.00 X 0 0 0 RICHARD RUSSO TRUSTEE 1.00 X 0 0 0 ROBERT MURRAY TRUSTEE (TERM. 10/2022) 1.00 X 0 0 0 ROBERT WELCH TRUSTEE (TERM. 10/2022) 1.00 X 0 0 0 RONALD R PETERSON TRUSTEE 1.00 X 0 0 0 SEJAL SHAH TRUSTEE 1.00 X 0 0 0 STEVEN HOPP TRUSTEE 1.00 X 0 0 0 SUSAN MEIER TRUSTEE 1.00 X 0 0 0 THOMAS BROMAN TRUSTEE 1.00 X 0 0 0 ZACHARIAH MESSITTE PRESIDENT (TERM. 01/2022) 1.00 X 19624 0 2731 JENNIFER MACHACEK VP FOR ENROLLMENT 40.00 X 159659 0 29845 CHRIS OGLE VP & DEAN OF STUDENTS 40.00 X 150721 0 22534 JOHN SISKO VP & DEAN OF FACULTY 40.00 X 138255 0 25280 ANDREA YOUNG VP FOR FINANCE / INTERIM PRESIDENT (TERM. 07/2022) 40.00 X 139751 0 19370 SHAWN KARSTEN VP, ADV., MARK. & COMM. 40.00 X 119420 0 32419 862572 0 148485 8 0 1 0 SAGE DINING SERVICES INC 1402 YORK ROAD LUTHERVILL MD 21093 FOOD SERVICE 2836084 BOLDT COMPANY N21W23340 RIDGEVIEW PKWY WAUKESHA WI 53188 CONSTRUCTION COMPANY - STADIUM/SCIENCE C 2071326 JW INDUSTRIES LLC 662 GLENDALE AVE GREEN BAY WI 54313 CONSTRUCTION COMPANY - STADIUM BLEACHERS 945000 RUFFALO NOEL LEVITZ LLC 5249 N PARK PI NE 1061 CEDAR RAPIDS IA 52402 EDUCATION CONSULTING 471312 R&R WASH MATERIAL 1110 DARTFOR RD RIPON WI 54971 CONSTRUCTION MATERIALS 319843 23 19050 832458 20502123 3211798 21353631 TUITION & FEES 812900 35264244 35264244 AUXILIARY ENTERPRISES 812900 6731926 6731926 41996170 1436349 39443 1396906 3930 3930 162885 0 162885 162885 162885 18435336 629645 9094668 1890 9340668 627755 9968423 73136 9895287 44592 19050 40967 3625 3625 SUMMER CAMP/CONFERENCE 721000 342703 342703 MISCELLANEOUS 812900 140524 140524 483227 75408240 41996170 455282 11603157 25047642 25047642 151448 126770 24678 11097755 9453019 1034037 610699 624155 529671 58093 36391 1935072 1698024 118588 118460 786742 660025 81251 45466 8643 8643 88273 16721 71552 75612 75612 75000 75000 2886697 1903539 676084 307074 171195 9180 162015 1456082 1172750 190090 93242 341765 334658 7107 1581504 1540032 41472 926535 762980 89048 74507 186563 91977 69762 24824 1274289 484962 789327 1899361 1899361 543803 543803 UBI TAX 372589 372589 FOOD SERVICE CONTRACT 2455174 2455174 ALL OTHER EXPENSES 611535 263963 347254 318 PROMOTIONS & AWARDS 563810 493065 70745 432242 387470 44772 55593486 49212856 5044971 1335659 4510513 5395041 14262156 18028969 2380950 11567302 1038807 939546 1078959 837274 141321 136047 94980214 44355308 48568164 50624906 81403828 77259824 18839811 21039137 7365232 7911346 179589741 193739392 1687035 1417289 1240856 885888 73897 78305 35119981 34016802 2786687 3065529 40908456 39463813 X 28173216 26908734 110508069 127366845 138681285 154275579 179589741 193739392 X 19814754 -4344276 123816 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1072685 X X X 0 110826272 2641186 6176993 7060667 112583784 117532116 3129538 -3050965 5985000 799417 110826272 91968278 7418715 22528380 4985000 -601743 117532116 97132959 879099 1057694 5746954 1354520 91968278 94360630 3020463 5118343 5366477 97132959 0.07000 0.93000 0.00000 1 0 585766 585766 86265576 37880018 48385558 8128872 6475290 1653582 50624906 ALTERNATIVE INVESTMENTS 21039137 F 21039137 ANNUITIES PAYABLE 200716 ACCRUED POSTRETIREMENT BENEFIT 1566520 CONDITIONAL ASSET RETIREMENT OBLIGATION 889216 OPERATING LEASE LIABILITIES 156907 FINANCE LEASE LIABILITIES 252170 3065529 X 46181105 -4344276 164783 -4179493 50360598 25047642 25047642 75408240 30586811 40967 40967 30545844 25047642 25047642 55593486 PART III, LINE 4: TO ENABLE STUDENTS AND COMMUNITY MEMBERS TO LEARN ABOUT AND EXPERIENCE DIFFERENT ART FORMS. PART V, LINE 4: THE ORGANIZATION'S ENDOWMENT FUNDS ARE USED FOR SCHOLARSHIPS, ACADEMIC PROGRAMS AND FACILITIES TO ASSIST IN FURTHERING THE MISSION OF THE COLLEGE. PART X, LINE 2: THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, THE COLLEGE IS NOT SUBJECT TO FEDERAL INCOME TAXES EXCEPT TO THE EXTENT IT DERIVES INCOME FROM CERTAIN ACTIVITIES NOT SUBSTANTIALLY RELATED TO ITS TAX-EXEMPT PURPOSES (UNRELATED TRADE OR BUSINESS ACTIVITIES). THE COLLEGE HAD NO MATERIAL UNRELATED BUSINESS INCOME DURING THE YEAR. THE COLLEGE FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE COLLEGE FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2023 AND 2022. THE COLLEGE'S TAX RETURNS THROUGH THE YEAR ENDED JUNE 30, 2019 ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF CASH SURRENDER VALUE OF LIFE INSURANCE POLICIES 48,083. CHANGES IN SPLIT-INTEREST AGREEMENTS -17,329. CHANGES IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUSTS HELD BY OTHERS 93,062. FUNDRAISING EXPENSES 40,967. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 25,047,642. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 40,967. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 25,047,642. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 RIPON COLLEGE DRAWS STUDENTS NATIONWIDE. MATERIALS USED IN PROMOTIONAL ACTIVITIES AND RECRUITING EFFORTS INCLUDE A STATEMENT THAT RIPON COLLEGE ADMITS STUDENTS OF ANY RACE, COLOR, AND NATIONAL OR ETHNIC ORIGIN. SCHEDULE E, PART I, LINE 6 RIPON COLLEGE RECEIVED FEDERAL FUNDS INCLUDING ALL TITLE IV AID PROGRAMS. RIPON COLLEGE RECEIVES WISCONSIN FUNDS INCLUDING WTG, TIP WI MINORITY GRANTS, ACADEMIC EXCELLENCE, ROBERT BYRD, AND WI HANDICAP, INDIAN AND WI COVENANT GRANTS. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENT 2960280 0 0 0 0 0 0 2960280 0 2960280 1 0 0 1 1 0 PART III ACCOUNTING METHOD: FORM 990, SCHEDULE F, PART IV: RIPON COLLEGE INVESTS IN DOMESTIC AND FOREIGN LIMITED PARTNERSHIPS THAT MAY OWN AN INTEREST IN A FOREIGN CORPORATION, PASSIVE FOREIGN INVESTMENT COMPANY, OR FOREIGN PARTNERSHIP. NEVERTHELESS, THE ORGANIZATION'S INVESTMENT ACTIVITIES MAY NOT REACH THE THRESHOLDS REQUIRED FOR FILING THE FORMS 926, 8621, OR 8865. TO THE EXTENT THAT THE ORGANIZATION IS REQUIRED TO COMPLETE ONE OF THESE FOREIGN FORMS, IT HAS BEEN FILED WITH THE ORGANIZATION'S ANNUAL FORM 990-T. GOLF SCRAMBLE 63642 19050 44592 4475 31848 4644 63642 19050 44592 4475 31848 4644 40967 3625 1 INSTITUTIONAL GRANTS AND SCHOLARSHIPS 735 21207917 ENDOWED SCHOLARSHIPS 505 3839725 PART I, LINE 2: RIPON COLLEGE TRACKS ALL GRANTS ISSUED BY GRANT, DOLLAR AMOUNT, STUDENT, AND TERM. FINANCIAL AID AWARDS GRANTS BASED ON THE GRANTEES ELIGIBILITY FOR ANY GRANT. ELIGIBILITY MAY BE BASED ON NEED, GRADES, MAJORS, ETC. IF NEED BASED, THE FAFSA WILL BE UTILIZED. EACH GRANT MAY HAVE UNIQUE SELECTION CRITERIA WHICH IS DOCUMENTED BY THE FINANCIAL AID DEPARTMENT. X 1 1 X X X 0 0 0 0 0 0 0 0 0 JENNIFER MACHACEK VP FOR ENROLLMENT 151138 0 8521 0 0 0 11077 0 18768 0 189504 0 0 0 CHRIS OGLE VP & DEAN OF STUDENTS 134640 0 16081 0 0 0 10168 0 12366 0 173255 0 0 0 JOHN SISKO VP & DEAN OF FACULTY 131045 0 7210 0 0 0 9373 0 15907 0 163535 0 0 0 ANDREA YOUNG VP FOR FINANCE / INTERIM PRESIDENT (TERM. 07/2022) 132497 0 7254 0 0 0 9430 0 9940 0 159121 0 0 0 SHAWN KARSTEN VP, ADV., MARK. & COMM. 106305 0 13115 0 0 0 8525 0 23894 0 151839 0 0 0 VICTORIA FOLSE PRESIDENT (AS OF 07/2022) 127642 0 7500 0 0 0 8250 0 8056 0 151448 0 0 0 PART I, LINE 1A IRS INSTRUCTIONS TO FORM 990 REQUIRE THAT THE FAIR MARKET VALUE OF HOUSING PROVIDED TO EMPLOYEES BY THEIR EMPLOYER BE REPORTED ON FORM 990, PART VII, SECTION A AND SCHEDULE J, PART II (WHETHER OR NOT THE VALUE IS DEEMED TAXABLE). AS A CONDITION OF EMPLOYMENT, THE PRESIDENT OF RIPON COLLEGE IS REQUIRED TO RESIDE IN THE RESIDENCE ON THE CAMPUS PREMISES. THE RESIDENCE SERVES BOTH AS A PERSONAL RESIDENCE AS WELL AS A VENUE FOR THE REGULAR CARRYING ON OF COLLEGE BUSINESS. THE COLLEGE HAS DETERMINED THAT THE VALUE OF THE USE OF THIS PERSONAL-RESIDENCE IS NOT CONSIDERED TAXABLE INCOME TO THE PRESIDENT AS PROVIDED FOR IN INTERNAL REVENUE CODE 119. FOR FISCAL YEAR 2022, THE VALUE OF THE PRESIDENT'S USE OF THE RESIDENCE IS CONSERVATIVELY ESTIMATED TO BE $32,760. THIS ESTIMATE VALUE IS BASED ON AN ESTIMATED MONTHLY RENTAL VALUE OF THE RESIDENCE OF $2,730/MONTH INCLUDING UTILITIES TOTALING $32,760 ANNUALLY. X 29 3211798 NET SELLING PRICE 0 0 1 1 PART I, LINE 32B: RIPON COLLEGE USES BMO HARRIS FINANCIAL ADVISORS TO RECEIVE STOCK SENT TO DTC AND TO SELL THAT STOCK. BMO HARRIS FINANCIAL ADVISORS HOLDS THE STOCK UNTIL RIPON AUTHORIZES THE SALE. BMO HARRIS FINANCIAL ADVISORS THEN SELLS THE STOCK AND PROVIDES A CONFIRMATION OF THE TRANSACTION ELECTRONICALLY. THE PROCEEDS ARE SENT BY CHECK TO THE COLLEGE. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF TRUSTEES SHALL ELECT TO MEMBERSHIP ON THE BOARD SUCCESSORS TO THOSE MEMBERS WHOSE TERMS EXPIRE ON THAT DATE, WITH THE EXCEPTION OF THE ALUMNI TRUSTEE AND THE SPECIAL GRADUATE TRUSTEE. ONE OF THE AFORESAID SUCCESSORS SHALL BE RECOMMENDED BY THE ALUMNI AND ONE BY THE STUDENT BODY, AS HEREINAFTER PROVIDED. TRUSTEES SHALL BE ELECTED BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE TRUSTEES PRESENT AT THE MEETING. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS SENT TO EACH MEMBER OF THE AUDIT COMMITTEE FOR THEIR REVIEW. ANY NECESSARY CHANGES OR CORRECTIONS ARE MADE AND A FINAL FORM 990 IS SENT TO ALL MEMBERS PRIOR TO FILING OF THE RETURN WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES AND TRUSTEES ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST FORM YEARLY. A SUMMARY OF ALL FORMS DISTRIBUTED, RETURNED, AND THE NUMBER WITH DISCLOSURES IS COMPLETED. ALL FORMS WITH DISCLOSURES ARE REVIEWED BY THE PRESIDENT AND VICE PRESIDENT FOR FINANCE. THOSE WITH DISCLOSURES ARE CATEGORIZED AS NOT A CONFLICT", A POTENTIAL CONFLICT BUT IMMATERIAL TO THE COLLEGE, AND THOSE THAT REQUIRE FURTHER ACTION. IF ANY ARE DEEMED TO REQUIRED FURTHER ACTION, THEN THOSE ARE REVIEWED BY THE CHAIR OF THE AUDIT COMMITTEE. IF ACTION IS NECESSARY, PROPER ACTIONS ARE TAKEN BY THE COLLEGE TO ENSURE THAT ANY DETRIMENTAL IMPACT TO THE COLLEGE IS MINIMIZED OR NEGATED. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE SHALL BE RESPONSIBLE, SUBJECT TO THE APPROVAL OF THE BOARD, FOR THE APPOINTMENT, COMPENSATION, AND EVALUATION OF THE OFFICE OF PRESIDENT, AND SHALL BE RESPONSIBLE FOR APPOINTMENT AND COMPENSATION, UPON THE RECOMMENDATION OF THE PRESIDENT FOR THE OFFICES OF VICE PRESIDENT AND DEAN OF FACULTY, VICE PRESIDENT AND DEAN OF STUDENTS, VICE PRESIDENT FOR FINANCE, VICE PRESIDENT OF ADVANCEMENT AND MARKETING AND COMMUNICATIONS, AND VICE PRESIDENT AND DEAN OF ADMISSION AND FINANCIAL AID. THE EXECUTIVE COMMITTEE SHALL CONSIDER ADJUSTMENT IN THE COMPENSATION OF SUCH OFFICERS ON AN ANNUAL BASIS. SALARIES WILL BE REVIEWED ON AN ANNUAL BASIS AND ANY SPECIAL INCREASE/DECREASE DIFFERING FROM THE ANNUAL ACROSS THE BOARD INCREASE/DECREASE WILL BE DONE BY SEPARATE LETTER AND SENT TO THE VICE PRESIDENT FOR FINANCE NO LATER THAN DECEMBER 15TH OF EACH YEAR TO TAKE EFFECT IN JANUARY OF THE NEXT CALENDAR YEAR. THE COMPENSATION OF OTHER OFFICERS OR KEY EMPLOYEES IS REVIEWED FOR REASONABLENESS THROUGH REVIEW OF COMPARABLE POSITIONS AT PEER INSTITUTIONS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF CASH SURRENDER VALUE OF LIFE INSURANCE POLICIES 48,083. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENT -17,329. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUSTS HELD BY OTHERS 93,062. FORM 990, PART XII, LINE 2C: NO CHANGE FROM PRIOR YEAR. PERPETUAL TRUSTS (2) SUPPORT WI RIPON COLLEGE 1 CHARITABLE GIFT ANNUITIES (10) SUPPORT WI RIPON COLLEGE 1 CHARITABLE REMAINDER TRUST (1) SUPPORT WI RIPON COLLEGE 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0