2024-06-17T07:41:23-05:00 2023-08-31 Forvis Mazars LLP 111 E Wayne St Suite 600 Fort Wayne IN 46802 990 2022-09-01 381308480 WALSH COLLEGE OF ACCOUNTANCY & BUSINESS ADMINISTRATION % SUZANNE SIEGLE WALS 2486898282 3838 LIVERNOIS RD TROY MI 48083 SHANNON HERBST CFO 2486898282 2024-07-15 true TERESA ESSHAKI 999009999 Lauren R Denton P01571860 2604604000 2 2022 2023-04-26 12:10:37Z SUZANNE SIEGLE 3838 LIVERNOIS RD TROY MI 48083 27818604 false X WWW.WALSHCOLLEGE.EDU X 1922 MI PROVIDES A TRANSFORMATIVE BUSINESS AND TECHNOLOGY EDUCATION THAT COMBINES THEORY, APPLICATION, AND PROFESSIONAL EXPERIENCE TO PREPARE GRADUATES FOR SUCCESSFUL CAREERS. 14 14 256 20 61269 24598 2784936 1060878 18308292 16719780 2206746 2883595 83742 186712 23383716 20850965 1983646 855167 0 0 14277629 14914632 0 0 826661 7389215 7587161 23650490 23356960 -266774 -2505995 63204897 60546931 15412195 15034400 47792702 45512531 X WALSH PROVIDES A TRANSFORMATIVE BUSINESS AND TECHNOLOGY EDUCATION THAT COMBINES THEORY, APPLICATION, AND PROFESSIONAL EXPERIENCE TO PREPARE GRADUATES FOR SUCCESSFUL CAREERS. false false 11225390 16719780 WALSH PROVIDES A TRANSFORMATIVE BUSINESS AND TECHNOLOGY EDUCATION THAT COMBINES THEORY, APPLICATION, AND PROFESSIONAL EXPERIENCE TO PREPARE GRADUATES FOR SUCCESSFUL CAREERS. PROGRAMS INCLUDE HANDS-ON CURRICULUM DELIVERED IN SMALL CLASS SETTINGS, BOTH ON GROUND AND VIRTUALLY, SYNCHRONOUS AND ASYNCHRONOUS, BY ACADEMIC FACULTY WITH REAL-WORLD EXPERIENCE. MORE THAN 1,000 STUDENTS WERE ENROLLED FOR FY 2022-2023. 3943431 STUDENT SERVICES WALSH PROVIDES STUDENTS A STRONG NETWORK OF SUPPORT INCLUDING ADMISSIONS AND ACADEMIC ADVISING, FINANCIAL AID, VETERAN SERVICES, STUDENT LIFE, ACADEMIC TUTORING, AND CAREER SERVICES. SUPPORT BEGINS WITH ADMISSIONS ADVISORS AT THE FIRST ADMISSIONS INQUIRY AND CONTINUES BEYOND GRADUATION WITH OUR EXTENSIVE RANGE OF CAREER SERVICES. 855167 855167 SCHOLARSHIPS A VARIETY OF SCHOLARSHIPS ARE AVAILABLE TO INCOMING UNDERGRADUATE AND GRADUATE STUDENTS AND INCLUDE ACADEMIC AWARDS, COMMUNITY COLLEGE EXCELLENCE AWARDS, AND MULTICULTURAL AWARDS. 1662073 OTHER PROGRAM SERVICES THE WALSH LIBRARY COLLECTION CONSISTS OF APPROXIMATELY 25,000 VOLUMES TOTALLY FOCUSED TO SUPPORT THE BUSINESS PROGRAMS OFFERED AT WALSH. IN ADDITION, THERE ARE OVER 742,000 E-BOOKS AND 123 ONLINE DATABASES. 1662073 17686061 true true false false false false false false false true true true false false true false false true true false true false false false false false false false true true true false false false false false false false false false false false false false false false true true true false false true 21 0 true 256 true true true false false false false false false false false false false false X 14 14 true false false false false false false true true false true true true true true true true true true true false MI X SUZANNE SIEGLE 2486988282 3838 LIVERNOIS ROAD TROY MI 48083 MICHAEL LEVENS LEFT 422 PRESIDENT & CFO 40.0 0.0 X 399762 0 23198 THOMAS PETZ CHIEF OPERATING OFFICER 40.0 0.0 X 258223 0 42243 SUZANNE SIEGLE PRESIDENT & CEO 40.0 0.0 X 237100 0 21543 RICHARD BERSCHBACK FACULTY 40.0 0.0 X 215034 0 43007 DAVE SCHIPPERS CHIEF ACADEMIC OFFICER 40.0 0.0 X 220830 0 15325 JENNY TATSAK FACULTY 40.0 0.0 X 175341 0 46811 TERRI RICHARDS FACULTY 40.0 0.0 X 184069 0 26160 WILLIAM GRESHAK FACULTY 40.0 0.0 X 179487 0 26101 JAVAD KATIBAI FACULTY 40.0 0.0 X 179384 0 15988 TERESA ESSHAKI LEFT 0922 CFO & TREASURER 40.0 0.0 X 172223 0 16213 ELIZABETH BARNES LEFT 0622 VP, HUMAN RESOURCES 40.0 0.0 X 108324 0 20335 VERONICA RICHARDS LEFT 0123 VP, HUMAN RESOURCES 40.0 0.0 X 71734 0 6240 LESLIE MILLER LEFT 0423 VP, CFO, TREASURER 40.0 0.0 X 37019 0 8892 DAVID J PETOSKEY TRUSTEE/CHAIR 0.3 0.0 X X 0 0 0 LOUIS C SCHMIDT JR TRUSTEE/VICE CHAIR 0.3 0.0 X X 0 0 0 MICHAEL J PLOTZKE TRUSTEE 0.3 0.0 X 0 0 0 JACKIE BUCHANAN TRUSTEE 0.3 0.0 X 0 0 0 MICHELLE ACCIAVATTI TRUSTEE 0.3 0.0 X 0 0 0 VAN CONWAY TRUSTEE 0.3 0.0 X 0 0 0 MICHAEL DAVENPORT TRUSTEE 0.3 0.0 X 0 0 0 KATHLEEN M KOSMATKA TRUSTEE 0.3 0.0 X 0 0 0 DAVID F GIRODAT TRUSTEE 0.3 0.0 X 0 0 0 DENNIS HARDER TRUSTEE 0.3 0.0 X 0 0 0 GERALD SCHAFER TRUSTEE 0.3 0.0 X 0 0 0 DAVID C LEWIS SR TRUSTEE 0.3 0.0 X 0 0 0 BRIAN PILARSKI TRUSTEE 0.3 0.0 X 0 0 0 WILLIAM C RONEY III TRUSTEE 0.3 0.0 X 0 0 0 GERALD CHIDDICK LEFT 0823 TRUSTEE 0.3 0.0 X 0 0 0 MICHELE HONOMICHL LEFT 0823 TRUSTEE 0.3 0.0 X 0 0 0 ALAN J KAUFMAN LEFT 0823 TRUSTEE 0.3 0.0 X 0 0 0 THOMAS W PROCTOR LEFT 0823 TRUSTEE 0.3 0.3 X 0 0 0 A MARK ZEFFIRO LEFT 0823 TRUSTEE 0.3 0.0 X 0 0 0 2438530 0 312056 30 true true false MEDIA GENESIS INC 901 TOWER DRIVE SUITE 420 TROY MI 48098 ADVERTISING 1423920 TOWNSEND SEARCH GROUP LLC 999 HAYNES ST SUITE 205 BIRMINGHAM MI 48009 CONSULTING 376540 AMERINET 1241 SOUTH MAPLE ROAD ANN ARBOR MI 48103 SOFTWARE 255437 EAB GLOBAL INC 2445 M STREET NW WASHINGTON DC 20037 SOFTWARE 185644 COMCAST 1701 JOHN F KENNEDY BLVD PHILADELPHIA PA 19103 INTERNET 177768 24 1011827 49051 1060878 TUITION AND FEES 611600 16702151 16702151 BOOKSTORE COMMISSIONS 611600 17629 17629 16719780 1150109 61269 1088840 0 0 186712 0 186712 0 186712 186712 8701125 0 6966017 1622 1735108 -1622 1733486 1733486 0 0 0 0 0 0 0 0 0 0 20850965 16719780 61269 3009038 0 855167 855167 0 0 798264 127722 670542 0 10631861 8371363 1788220 472278 80109 59281 17624 3204 2538372 1878395 558442 101535 866026 640859 190526 34641 0 159330 159330 88281 88281 0 0 77051 77051 1456756 1238242 145676 72838 1509963 1283469 150996 75498 454625 386431 45463 22731 0 0 488550 488550 84957 42788 29181 12988 0 13156 8178 4609 369 556211 556211 0 1610642 1466651 115483 28508 235341 235341 LIBRARY SERVICES 289378 289378 BAD DEBT EXPENSE 159570 159570 SPECIAL EVENTS 31681 18348 11262 2071 RECRUITING 5436 5436 366233 366233 23356960 17686061 4844238 826661 1439490 1054828 1598322 383400 123554 51455 351824 442487 0 0 0 0 0 0 0 0 854291 976742 45925195 21366852 25305982 24558343 27278615 26239549 5345723 5727636 0 0 0 0 907096 1112491 63204897 60546931 860434 1634723 0 0 1066380 1182553 11438312 10967180 0 0 0 0 0 0 0 0 2047069 1249944 15412195 15034400 X 43477487 44180475 4315215 1332056 47792702 45512531 63204897 60546931 X -2505995 -510445 736269 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1000000 -42243 957757 false true true 1369152 1369152 31304415 11072417 20231998 8033657 6482170 1551487 5217971 3812265 1405706 24558343 ALTERNATIVE INVESTMENTS 5727636 F 5727636 0 ACCRUED PENSION 1249944 1249944 20144571 -510445 736269 225824 19918747 77051 855167 932218 20850965 22424742 22424742 77051 855167 932218 23356960 SCHEDULE D, PART V, LINE 4 THE MAJORITY OF WALSH'S ENDOWMENTS, WHICH ARE HELD BY THE FOUNDATION, ARE FOR UNDERGRADUATE AND GRADUATE SCHOLARSHIPS. THE REMAINING ENDOWMENTS PROVIDE TUTORING, SUPPORT FOR ACCOUNTING FUNDAMENTALS AND STUDENT GOVERNMENT, AND AN AWARD FOR ACADEMIC EXCELLENCE. SCHEDULE D, PART XI LINE 2D: PENSION INCOME 475,908 INTEREST RATE SWAP 260,361 TOTAL $ 736,369 LINE 4B: STUDENT AID RECLASS $ 855,167 SCHEDULE D, PART XII LINE 4B: STUDENT AID RECLASS $ 855,167 ASC 740 FOOTNOTE MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3 WALSH'S NONDISCRIMINATORY POLICY IS ON STUDENT APPLICATIONS, COLLEGE PUBLICATIONS, AND IS POSTED ON THE WEBSITE. SCHEDULE E, PART I, LINE 6A WALSH RECEIVES FEDERAL PELL GRANTS AND FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, BASED UPON STUDENT ELIGIBILITY, FROM THE FEDERAL DEPARTMENT OF EDUCATION. THE INSTITUTION ALSO RECEIVED GRANTS FROM THE STATE OF MICHIGAN BASED UPON STUDENT ELIGBILITY. THESE FUNDS ARE USED TO ASSIST WITH THEIR COST OF ATTENDANCE. true Central America and the Caribbean 0 0 Investments N/A 1856784 0 0 0 0 1856784 1856784 true false true false false false SCHEDULE F, PART I, LINE 2 N/A - GRANT FUNDS ARE NOT USED OUTSIDE THE UNITED STATES. true SCHOLARSHIPS 292 855167 SCHEDULE I, PART I, LINE 2 SCHOLARSHIPS ARE APPLIED DIRECTLY TO INSTITUTIONAL CHARGES. DIRECT COSTS INCURRED TO SUPPORT THE PRIMARY FUNCTIONS OF WALSH COLLEGE ARE SPECIFICALLY IDENTIFIED TO THE BENEFITING ACTIVITY. RESTRICTED FUNDS, INCLUDING FEDERAL AWARDS, ARE RECORDED IN SEPARATE FUNDS AND DIRECT EXPENDITURES OF THESE PROGRAMS ARE RESTRICTED TO THE EXCLUSIVE PURPOSE OF THE AWARD. ALL SPONSORED PROJECTS ARE INCLUDED IN THE DIRECT COST BASE. INDIRECT COSTS ARE ALLOCATED PROPORTIONALLY AS PRESCRIBED IN OMB CIRCULAR A-21. ANY UNDER RECOVERY OF INDIRECT COSTS FROM ANY SPONSORED ACTIVITY IS NOT CHARGED TO ANY OTHER SPONSORED PROJECT EITHER DIRECTLY OR INDIRECTLY. X true true X X X X X false false false false false false false false false SUZANNE SIEGLE PRESIDENT & CEO 236250 0 850 18968 2575 258643 THOMAS PETZ CHIEF OPERATING OFFICER 177269 20000 60954 20144 22099 300466 DAVE SCHIPPERS CHIEF ACADEMIC OFFICER 188886 20000 11944 13250 2075 236155 MICHAEL LEVENS LEFT 422 PRESIDENT & CFO 183612 0 216150 14955 8243 422960 TERESA ESSHAKI LEFT 0922 CFO & TREASURER 170523 0 1700 13778 2435 188436 ELIZABETH BARNES LEFT 0622 VP, HUMAN RESOURCES 108324 0 0 8152 12183 128659 RICHARD BERSCHBACK FACULTY 138957 0 76077 17203 25804 258041 TERRI RICHARDS FACULTY 115487 0 68582 14588 11572 210229 WILLIAM GRESHAK FACULTY 110479 0 69008 14200 11901 205588 JAVAD KATIBAI FACULTY 106383 0 73001 14351 1637 195372 JENNY TATSAK FACULTY 144960 0 30381 14027 32784 222152 SCHEDULE J, PART I, LINE 1A HEALTH CLUB DUES ARE PAID FOR DIRECTLY BY WALSH TO THE HEALTH CLUB FOR OFFICERS WHO ARE ALSO FULL TIME EMPLOYEES OF THE COLLEGE AND ARE INCLUDED IN THEIR W-2'S. THE HEALTH CLUB DUES CAN BE FOR BUSINESS AND PERSONAL USE. THE FOLLOWING OFFICERS HAD HEALTH CLUB DUES FOR 2022: ELIZABETH BARNES AND TERESA ESSHAKI. A MICHIGAN FINANCE AUTHORITY 800596186 2014-08-27 14230000 MICHIGAN FINANCE AUTHORITY false false false A 2641000 0 14230000 0 0 0 128128 0 0 0 14101872 0 2015 true false true true A false false false false 0 false false false false A false false false true true true JP MORGAN CHASE BANK 9. false false false 0 false false A true SCHEDULE K SCH K, PART I, BOND ISSUE "A", COLUMN F: REFINANCE ON 8/27/14 THE SERIES 2010 BONDS, ISSUED ON APRIL 30, 2010 TO BUILD A 33,100 SQUARE FOOT ADDITION TO THE EXISTING BUILDING AND RENOVATE 20,500 SQUARE FEET OF EXISTING BUILDING SPACE FOR A TOTAL OF 53,600 SQUARE FEET. SCH K, PART IV, BOND ISSUE "A", 4a: SWAP MATURED 9/1/21 AND A NEW SWAP WAS TRANSACTED WITH A MATURITY DATE OF 9/2/31 SCHEDULE K, PART IV, ARBITRAGE, LINE 2C: (A) ISSUER NAME: MICHIGAN FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 01/27/2020 FORM 990, PART VI, SECTION B, LINE 11B THIS FORM IS REVIEWED BY THE CFO AND ALL TRUSTEES OF AUDIT AND RISK MANAGEMENT COMMITTEE. A COPY OF THIS FORM 990 IS POSTED TO AN INTERNAL BOARD SITE SO THAT IS AVAILABLE TO ALL TRUSTEES PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES, OFFICERS, EXECUTIVE AND SELECTIVE KEY ADMINISTRATORS ARE REQUIRED TO FILE A CONFLICT OF INTEREST STATEMENT ANNUALLY AND EVERY TIME THERE A DECISION UNDER CONSIDERATION IN WHICH SUCH A PERSON MAY HAVE AN INTEREST. IF A CONFLICT IS DISCOVERED, THE PERSON WITH THE CONFLICT WILL REMOVE THEMSELF FROM THE ROOM DURING ANY DISCUSSION AND RESCUSE THEMSELF FROM ANY MOTION, VOTE OR PROPOSAL. FORM 990, PART VI, SECTION B, LINE 15A & 15B THE COMPENSATION OF THE OFFICERS IS APPROVED BY THE GOVERNANCE AND COMPENSATION COMMITTEE AND BY THE BOARD OF TRUSTEES. THE COMPENSATION IS EITHER SET BY WRITTEN CONTRACT AND/OR ANNUALLY BASED ON COMPENSATION SURVEYS AND/OR INDEPENDENT COMPENSATION CONSULTANT. THIS PROCESS WAS LAST PERFORMED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC THROUGH WRITTEN OR VERBAL REQUESTS. FORM 990, PART VII, COLUMN (B): HOURS WORKED FOR RELATED ORGANIZATION: THE OFFICERS LISTED ON PART VII OF FORM 990 EACH SPEND 1 HOUR PER WEEK WORKING FOR THE WALSH COLLEGE FOUNDATION, A RELATED ORGANIZATION. FORM 990, PART XI, LINE 9, CHANGE IN NET ASSETS PENSION ADJUSTMENT 475,908 CHANGE IN SPLIT INTEREST AGREEMENT 260,361 TOTAL: $736,269 THE WALSH COLLEGE FOUNDATION 3838 LIVERNOIS TROY MI 48083 200664128 FUNDRAISING MI 501(C)(3) 7 WALSH COLLEG true false false true false false false false false false false false true true true true true true false false WALSH COLLEGE FOUNDATION C 1011827 CASH