2023-05-15T14:53:32-05:00 2022-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2021-07-01 381359081 ALBION COLLEGE ALBI 5176290289 611 EAST PORTER STREET ALBION MI 49224 MARK HOLBROOK CONTROLLER 5176290289 2023-05-15 1 MARK HOLBROOK 999009999 AMY CIMINELLO P00796388 2695674500 2023-05-15 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z JOSEPH CALVARUSO 611 EAST PORTER STREET ALBION MI 49224 148211516 0 X WWW.ALBION.EDU X 1835 MI ALBION COLLEGE IS AN UNDERGRADUATE, LIBERAL ARTS INSTITUTION COMMITTED TO ACADEMIC EXCELLENCE. WE ARE LEARNING-CENTERED AND RECOGNIZE THAT VALUABLE LEARNING TAKES PLACE IN AND OUTSIDE OF THE CLASSROOM, ON AND OFF THE CAMPUS. 26 26 1474 26 155083 215385 19163618 11128688 89673736 93756520 7598513 17506299 864158 547691 117300025 122939198 56525148 60390797 0 0 36073489 36060823 0 0 2566984 30346699 29401392 122945336 125853012 -5645311 -2913814 312037412 296474631 71871791 78411887 240165621 218062744 X ALBION COLLEGE IS AN UNDERGRADUATE, LIBERAL ARTS INSTITUTION COMMITTED TO ACADEMIC EXCELLENCE. WE ARE LEARNING-CENTERED AND RECOGNIZE THAT VALUABLE LEARNING TAKES PLACE IN AND OUTSIDE OF THE CLASSROOM, ON AND OFF THE CAMPUS. 0 0 85769718 60390797 77233929 INSTRUCTIONAL - ALBION COLLEGE IS A PRIVATE, SELECTIVE, COEDUCATIONAL, RESIDENTIAL INSTITUTION OF HIGHER EDUCATION AFFILIATED WITH THE UNITED METHODIST CHURCH, BUT NON-SECTARIAN IN PRACTICE. THE COLLEGE PRINCIPALLY OFFERS ACADEMIC COURSES AND PROGRAMS LEADING TO A BACHELORS DEGREE IN LIBERAL ARTS. APPROXIMATELY 1,445 STUDENTS ARE ENROLLED IN THE COLLEGE. 6001385 0 6615770 AUXILIARY - DINING SERVICES - ALBION COLLEGE IS A RESIDENTIAL INSTITUTION AND THE PRIMARY FUNCTION OF THE DINING AND HOSPITALITY SERVICES, MANAGED BY METZ MANAGEMENT COMPANY, IS TO PROVIDE FOOD FOR OUR STUDENTS, FACULTY, STAFF, AND GUESTS. WE STRIVE TO PROVIDE A WIDE SELECTION OF HIGH QUALITY PRODUCTS AND SERVICES THROUGH A VARIETY OF EXPERIENCES. THESE EXPERIENCES REFLECT OUR COMMITMENT TO BEING RESPONSIVE TO THE CHANGING NEEDS AND DESIRES OF OUR DIVERSE AUDIENCE. OPERATIONS INCLUDE AN ALL-YOU-CAN-EAT DINING HALL, QUICK-SERVE RESTAURANT, A COFFEE SHOP, LODGING, CATERING SERVICES, FACULTY/STAFF LUNCH BUFFET AND CONFERENCE AND EVENT SERVICES. 1187742 0 9369864 AUXILIARY - RESIDENCE HALLS - ALBION COLLEGE IS A COLLEGE COMMUNITY INSTITUTION THAT EMPHASIZES COMMUNITY AND INCLUSION THROUGH EDUCATION IN AND OUT OF THE CLASSROOM. ALBION COLLEGE STRIVES TO PROVIDE OUR STUDENTS WITH QUALITY HOUSING THAT ENHANCES A STUDENT'S LEARNING EXPERIENCE. 17266686 0 536957 VARIOUS OTHER PROGRAM SERVICES RELATING TO THE ORGANIZATION'S MISSION. (KELLOGG CTR, CONF SERVICES, EQUESTRIAN CTR, W&G ROOM RENTAL) 17266686 0 536957 110225531 1 1 0 0 0 1 0 1 0 1 1 1 0 0 1 0 0 1 1 0 1 0 1 0 0 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 1 205 0 1 1474 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 26 26 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 X MARK HOLBROOK 5176290289 611 EAST PORTER STREET ALBION MI 49224 MICHAEL J HARRINGTON EXECUTIVE CHAIRMAN-THRU DEC 2021 2.31 1.00 X X 0 0 0 DENNIS W WAHR TRUSTEE 3.08 0.00 X 0 0 0 JEFFREY YOULE TRUSTEE 3.08 0.00 X 0 0 0 TIMOTHY WYMAN TRUSTEE 3.08 0.00 X 0 0 0 MICHAEL E WILLIAMS TRUSTEE 3.08 0.00 X 0 0 0 STEVE SHECKELL TRUSTEE 3.08 0.00 X 0 0 0 KATE HAO TRUSTEE 3.08 0.00 X 0 0 0 ALEC PALMER TRUSTEE 3.08 0.00 X 0 0 0 AUSTIN BAIDAS TRUSTEE 3.08 0.00 X 0 0 0 DAVID A BARD TRUSTEE 3.08 0.00 X 0 0 0 JARED FIFE TRUSTEE 3.08 0.00 X 0 0 0 DOUGLAS GOERING TRUSTEE 3.08 0.00 X 0 0 0 ALLISON MAKI TRUSTEE 3.08 0.00 X 0 0 0 THOMAS L LUDINGTON TRUSTEE 3.85 0.00 X 0 0 0 JAMES KEITH TRUSTEE 3.08 0.00 X 0 0 0 PAUL HUTH TRUSTEE 3.08 0.00 X 0 0 0 SAMUEL J SHAHEEN TRUSTEE 3.08 1.00 X 0 0 0 JEFFREY A OTT TRUSTEE 3.08 1.00 X 0 0 0 KEVIN F ASHER TRUSTEE - AUDIT CHAIR 3.85 0.00 X X 0 0 0 LAWRENCE B SCHOOK TRUSTEE - CHAIR ACADEMIC AFFAIRS 3.85 0.00 X 0 0 0 J DONALD SHEETS TRUSTEE - CHAIR FINANCE 3.85 0.00 X 0 0 0 JEFFREY C PETHERICK TRUSTEE - CHAIR INVESTMENT 3.85 0.00 X 0 0 0 JOANNE MILLER TRUSTEE - CHAIR OF ENROLLMENT/MARKETING 3.85 0.00 X 0 0 0 MAE OLA DUNKLIN TRUSTEE - CHAIR OF INFRASTRUCTURE 3.85 0.00 X 0 0 0 BRIAN MCPHEELY TRUSTEE - CHAIR OF STUDENT DEVELOPMENT 3.85 0.00 X 0 0 0 JEFFREY D WEEDMAN TRUSTEE - CHAIR TRUSTEESHIP 3.85 0.00 X 0 0 0 JOSEPH S CALVARUSO TRUSTEE - INTERIM PRESIDENT 23.08 0.00 X X 0 0 0 KEENA S WILLIAMS CHIEF BELONGING OFFICER 34.62 0.00 X 81954 0 19333 GARY R BLACK CHIEF FINANCIAL OFFICER 30.77 0.00 X 144255 0 34798 KELLY D FINN CHIEF OF STAFF 46.15 0.00 X 93983 0 14289 RAYMOND D BARCLAY CHIEF PLANNING OFFICER 19.23 0.00 X 155549 0 11563 SUSANNAH PENTELOW EXECUTIVE DIRECTOR OF COMM 23.08 0.00 X 78227 0 16506 DR MATHEW JOHNSON PRESIDENT-THRU DEC 2021 34.62 0.00 X 451147 0 46298 RON B MOURAD PROVOST, VP FOR FACULTY 46.15 0.00 X 142313 0 55400 JAMIE M KRUEGER VP FOR ENROLLMENT 46.15 0.00 X 62950 0 8369 HERNAN M BUCHELI VP FOR ENROLLMENT-THRU MAY 2021 19.23 0.00 X 219580 0 18726 MARC A NEWMAN VP FOR INSTITIONAL ADV 46.15 0.00 X 104260 0 11722 LEROY WRIGHT VP FOR STUDENT DEVELOPMENT 46.15 0.00 X 197422 0 20178 GRETCHEN K MIELKE ADMINISTATOR 38.00 0.00 X 117687 0 7133 MATTHEW AREND ATHLETIC DIRECTOR 42.00 0.00 X 118786 0 17057 SUELLYN M HENKE FACULTY 38.00 0.00 X 119048 0 6413 VICKI L BAKER FACULTY 42.00 0.00 X 172491 0 17331 KAREN ERLANDSON FACULTY 38.00 0.00 X 121072 0 21311 MARC M ROY PROVOST, VP FOR FACULTY - FORMER 30.77 0.00 X 106659 0 19315 2487383 0 345742 17 1 1 0 METZ CULINARY MANAGEMENT 2 WOODLAND DRIVE DALLAS PA 18612 FOOD SERVICE 5146979 CSM GROUP INC 600 E MICHIGAN AVE SUITE A KALAMAZOO MI 49007 CONSTRUCTION SERVICES 3472431 WG CONSTRUCTION SERVICES LLC 101 S MONROE ST ALBION MI 49224 CONSTRUCTION SERVICES 1090478 GCA EDUCATION SERVICES INC PO BOX 643823 PITTSBURGH PA 15264 CUSTODIAL SERVICES 999780 PROGRESSIVE AE INC 1811 FOUR MILE ROAD NE GRAND RAPIDS MI 49525 CONSTRUCTION SERVICES 751529 47 3714580 7414108 2039768 11128688 TUITION AND FEES 611600 77233929 77233929 RESIDENCE HALLS 611600 9369864 9369864 DINING SERVICES 611600 6615770 6615770 OTHER PROGRAM REVENUE 900099 536957 536957 93756520 4830764 155083 4675681 69500 0 69500 69500 69500 37130431 813172 25268068 0 11862363 813172 12675535 12675535 3478 0 3478 3478 38464 4250 34214 34214 INSURANCE PROCEEDS 900099 159458 159458 ENERGY REBATES 900099 109842 109842 FARM INCOME 900099 31807 31807 139392 139392 440499 122939198 93756520 155083 17898907 33673 33673 59654775 59654775 702349 702349 1827361 533571 1095468 198322 25284694 20234543 4004837 1045314 2044073 1757154 215189 71730 4956536 3604274 1082833 269429 1948159 1674704 205091 68364 6587 6587 221650 221650 255419 6507 248912 6538860 4531438 1719054 288368 224492 131646 92380 466 3430366 2908449 428863 93054 3464111 2888937 425460 149714 2130891 1645918 409038 75935 659897 237369 416743 5785 1987999 877723 1074446 35830 4800473 4248226 451642 100605 850104 6862 843242 FOOD 4830543 4547413 125649 157481 125853012 110225531 13060497 2566984 4308535 9822959 5871228 9931248 5165330 6344166 2788369 3082736 4375 4375 1008967 863484 221320256 124659985 89896435 96660271 60932856 57967811 137466492 107549024 4594825 4248557 312037412 296474631 12810554 8627486 286566 283612 45810000 58313535 10452719 9090445 2511952 2096809 71871791 78411887 X 52122920 46641127 188042701 171421617 240165621 218062744 312037412 296474631 X -2913814 -19863548 674485 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 833905 0 1 1 X X X X 0 199245697 3697775 -3017813 5143191 18944972 -289481 176126976 162423187 -124757 47026102 5106495 5078790 -106450 199245697 173856393 5568341 -2447969 16455065 -1901487 162423187 177207527 8471036 5306500 7929609 8094009 1105052 173856393 180632498 4419842 12518176 4172677 11793460 4396852 177207527 0.05580 0.57880 0.36540 1 0 3994797 3994797 131491501 87454215 44037286 54185515 11636038 42549477 31648443 25569732 6078711 96660271 GLOBAL MULTI-ASSET EQUITY 65399569 F PARTNERSHIPS 37495702 C REAL ESTATE 4653753 C 107549024 REFUNDABLE PERKINS LOAN PROGRAM 1715754 REFUNDABLE STUDENT DEPOSITS 381055 2096809 PART III, LINE 1A: THE COLLEGE DOES NOT RECOGNIZE OR CAPITALIZE THE COLLECTIONS OF RARE BOOKS, ORIGINAL PAINTINGS, VALUABLE PRINTS, AND OTHER ORIGINAL WORKS OF ART THAT HAVE BEEN RECEIVED AS DONATIONS OVER THE YEARS. COLLECTIONS ARE HELD FOR PUBLIC EXHIBITION, ARE PROTECTED, CARED FOR, AND PRESERVED AND ARE SUBJECT TO POLICY THAT REQUIRES PROCEEDS FROM SALE OF ITEMS TO ACQUIRE OTHER ITEMS FOR THE COLLECTIONS. PART III, LINE 4: ART COLLECTION - A MISSION OF THE DEPARTMENT IS TO EXPOSE OUR STUDENTS AND THE COMMUNITY TO FINE ARTS OF THE PAST AND PRESENT. TO THIS END, WE TEACH CLASSES AND CREATE EXHIBITIONS, DRAWING UPON OUR COLLECTION AND OF OUR CONTEMPORARIES. OUR TWO GALLERIES ARE THE VENUE FOR TWELVE EXHIBITIONS PER ACADEMIC YEAR WHICH ARE OPEN TO THE COLLEGE AND THE GENERAL PUBLIC. LIBRARY COLLECTION - THE LIBRARY COLLECTIONS HAVE THEIR ROOTS IN THE HISTORY OF ALBION COLLEGE. THEY FORM A VALUABLE ACADEMIC RESOURCE THAT SUPPORT OUR CENTRAL LIBERAL ARTS MISSION. THE COLLECTIONS ARE OPEN TO STUDENTS FOR STUDY AND RESEARCH AND PROVIDE A UNIQUE EXPERIENCE IN UNDERSTANDING LITERATURE, HISTORY AND THE HISTORY OF SCIENCE AND NATURAL HISTORY. PART V, LINE 4: ENDOWMENTS SUPPORT THE EDUCATIONAL PURPOSES OF THE COLLEGE. PART I: DURING FY22, ALBION CLOSED OUT THE DAF THAT IT HAS MAINTAINED. IN THIS PARTICULAR CASE, AFTER PLACING THEIR FUNDS WITH THE COLLEGE IN A DAF, THE DONOR, ELECTED TO ASSIGN THE ALLOWABLE PORTION OF FUNDS TO TWO THIRD PARTY EDUCATIONAL INSTITUTIONS. ALL REMAINING FUNDS WERE ASSIGNED TO BE SENT TO A SERIES OF SMALLER ENDOWMENTS AND SPENDABLE GIFTS FOR THE BENEFIT OF ALBION COLLEGE, ALL OF WHICH HAVE GIFT AGREEMENTS TO DOCUMENT DONOR CHOICES. AS THE ONLY PARTICIPANT IN ALBION COLLEGE'S DAF, THE DONOR'S ASSIGNMENT OF FUNDS LEFT THE DAF WITH A ZERO BALANCE THAT WOULD HAVE ONLY ACCUMULATED FEES ON AN ONGOING BASIS, AND SO THE DAF INVESTMENT PRODUCT WAS CLOSED TO MINIMIZE WASTED EXPENSES. PART V: CHANGES IN ENDOWMENT NET ASSETS FOR THE FISCAL YEAR ENDED JUNE 30, 2022 WITHOUT WITH DONOR RESTRICTIONS DONOR RESTRICTIONS ENDOWMENT NET ASSETS AT JULY 1, 2021 $19,411,045 $179,834,652 CONTRIBUTIONS 396,883 3,680,633 INVESTMENT INCOME 4,780,590 - INVESTMENT GAINS (LOSSES) 606,045 (8,403,119) RELEASED FROM RESTRICTION FOR ENDOWMENT DRAWS 9,098,138 (9,098,138) REGULAR APPROPRIATION FROM TRUE ENDOWMENTS FOR OPERATIONS (9,116,144) - EXTRA APPROPRIATION FROM TRUE ENDOWMENTS FOR OPERATIONS (4,752,320) - REGULAR APPROPRIATION AND LIQUIDATION OF FUNDS FUNCTIONING AS QUASI ENDOWMENTS (10,219,699) - OTHER TRANSFERS AND ADJUSTMENTS (381,070) 289,481 ENDOWMENT NET ASSETS AT JUNE 30, 2022 $9,823,468 $166,303,509 ASSETS WITHOUT DONOR RESTRICTIONS THESE REPRESENT FUNDS WHICH THE GOVERNING BOARD OF THE INSTITUTION HAVE ESTABLISHED TO FUNCTION AS AN ENDOWMENT IN THAT THE PRINCIPAL IS TO BE RETAINED AND INVESTED. HOWEVER, THE ENTIRE PRINCIPAL AND INCOME MAY BE SPENT AT ANY TIME AT THE DISCRETION OF THE GOVERNING BOARD. ASSETS WITH DONOR RESTRICTIONS REPRESENT FUNDS WHICH HAVE BEEN DONATED TO THE INSTITUTION FOR WHICH THE EARNINGS ARE MEANT TO BE USED FOR OPERATIONS, PROGRAMS OR SCHOLARSHIPS CONSISTENT WITH RESTRICTIONS PLACED ON IT BY THE DONOR. THESE FUNDS CAN BE SPENDING RESTRICTED (TERM ENDOWMENTS), OR HELD IN PERPETUITY (TRUE ENDOWMENTS). EARNINGS ARE DRAWN IN ACCORDANCE WITH BOTH THE INSTITUTION'S INVESTMENT POLICIES AND MI UPMIFA STATUTES. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 ALL PAMPHLETS, BROCHURES AND RECRUITING MATERIALS CONTAIN THE FOLLOWING LANGUAGE, "ALBION COLLEGE IS COMMITTED TO A POLICY OF EQUAL OPPORTUNITY AND NON-DISCRIMINATION ON THE BASIS OF SEXUAL ORIENTATION AND OF RACE, COLOR, NATIONAL ORIGIN, RELIGION, SEX, AGE OR DISABILITY, AS PROTECTED BY LAW, IN ALL EDUCATIONAL PROGRAMS AND ACTIVITIES, ADMISSION OF STUDENTS AND CONDITIONS OF EMPLOYMENT." THE COLLEGE PROMOTES A COMMUNITY OF BELONGING. SCHEDULE E, PART I, LINE 6 TITLE IV AID FROM THE FEDERAL DEPARTMENT OF EDUCATION (SEOG, PELL, PERKINS LOANS, AND DIRECT LENDING LOANS) AND MICHIGAN GIFT AND MICHIGAN PROMISE FROM THE STATE OF MICHIGAN. LINE 6: ON MARCH 11, 2020, THE WORLD HEALTH ORGANIZATION DECLARED THE OUTBREAK OF A RESPIRATORY DISEASE CAUSED BY A NEW CORONAVIRUS A PANDEMIC, NOW KNOWN AS COVID-19. AS A RESULT, THE GLOBAL ECONOMY HAS BEEN NEGATIVELY AFFECTED, AND THE COLLEGE'S OPERATIONS WERE ALSO IMPACTED. TO OFFSET THE FINANCIAL IMPACT TO STUDENTS AND THE LOSSES INCURRED BY THE COLLEGE DUE TO THE DISRUPTION CAUSED BY COVID-19, THE FEDERAL GOVERNMENT HAS TAKEN SEVERAL ACTION PROVIDE ASSISTANCE DURING THE PANDEMIC THROUGH THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY (CARES) ACT, CORONAVIRUS RESPONSE AND RELIEF SUPPLEMENTAL APPROPRIATIONS ACT (CRSSA), AND THE AMERICAN RESCUE PLAN (ARP), WHICH WAS ALLOTTED FUNDING TO THE EDUCATIONAL STABILIZATION FUND THROUGH THE HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF). UNDER CARES, CRSSA, AND ARP, THE COLLEGE RECEIVED A TOTAL ALLOCATION OF APPROXIMATELY $4,200,000 FOR EMERGENCY AID TO STUDENTS, AND $5,333,000 FOR INSTITUTIONAL NEEDS. THE COLLEGE DISTRIBUTED STUDENT EMERGENCY GRANTS APPROXIMATELY $2,397,000 AND $1,831,000 DURING 2022 AND 2021, RESPECTIVELY. IN ADDITION, THE COLLEGE RECOGNIZED $2,514,000 AND $2,729,000 OF THE INSTITUTIONAL PORTION WHICH WAS RELATED TO OFFSET LOST REVENUE AND OTHER EXPENSES DIRECTLY ATTRIBUTABLE TO COSTS ARISING FROM COVID-19. IN ADDITION, THE COLLEGE WAS APPROVED ON JUNE 23, 2020, THE COLLEGE RECEIVED A PAYCHECK PROTECTION PROGRAM (PPP) TERM NOTE THROUGH FIRST NATIONAL BANK OF MICHIGAN OF APPROXIMATELY $6,008,000. THE NOTE WAS ISSUED PURSUANT TO THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY (CARES) ACT'S PAYCHECK PROTECTION PROGRAM. THE NOTE STRUCTURE REQUIRED COLLEGE OFFICIALS TO CERTIFY CERTAIN STATEMENTS THAT PERMITTED THE COLLEGE TO QUALIFY FOR THE LOAN AND PROVIDES LOAN FORGIVENESS FOR A PORTION UP TO ALL OF THE BORROWED AMOUNT IF THE COLLEGE USES THE LOAN PROCEEDS FOR THE PERMITTED LOAN PURPOSES DESCRIBED IN THE NOTE AGREEMENT; THE COLLEGE WAS NOTIFIED THAT THIS FUNDING WAS FORGIVEN ON JUNE 16, 2021 AT WHICH TIME THE COLLEGE RECOGNIZED THE OUTSTANDING BALANCE AS REVENUE WITHIN GOVERNMENT APPROPRIATE AND GRANTS ON THE STATEMENT OF ACTIVITIES. THE SEVERITY OF THE CONTINUED IMPACT DUE TO COVID-19 ON THE COLLEGE'S FINANCIAL CONDITION, RESULTS OF OPERATIONS OR CASH FLOWS WILL DEPEND ON A NUMBER OF FACTORS, INCLUDING, BUT NOT LIMITED TO, THE DURATION AND SEVERITY OF THE PANDEMIC AND THE EXTENT AND SEVERITY OF THE IMPACT ON THE COLLEGE'S COMMUNITY, ALL OF WHICH ARE UNCERTAIN AND CANNOT BE PREDICTED. 1 0 0 0 0 0 0 0 0 0 SCHOLARSHIPS EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 1 26400 CHARGE AGAINST TUITION 0 N/A N/A SCHOLARSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 1 53170 CHARGE AGAINST TUITION 0 N/A N/A SCHOLARSHIPS NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 2 57570 CHARGE AGAINST TUITION 0 N/A N/A SCHOLARSHIPS SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 1 44000 CHARGE AGAINST TUITION 0 N/A N/A SCHOLARSHIPS SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 1 51400 CHARGE AGAINST TUITION 0 N/A N/A SCHOLARSHIPS MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 2 113799 CHARGE AGAINST TUITION 0 N/A N/A SCHOLARSHIPS RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, 7 356010 CHARGE AGAINST TUITION 0 N/A N/A 1 0 0 0 0 0 PART I, LINE 2: GRANT FUNDS ARE NOT USED OUTSIDE THE UNITED STATES WITH THE POSSIBLE EXCEPTION OF TRAVEL COSTS INCURRED BY RESEARCHERS COLLABORATING WITH PEERS IN FOREIGN COUNTRIES. PART III, COL (C): ADMISSIONS MAINTAINS DATA TO TRACK RECIPIENTS BY COUNTRY. PART III ACCOUNTING METHOD: 38464 3500 750 1 1.00000 38464 3500 750 4250 34214 MI 1 0 0 0 1.00000 0.00000 MELISSA WALTON 415 S HANNAH ALBION MI 48801 0 MELISSA WALTON MELISSA WALTON IS THE ASSOCIATE ATHLETIC DIRECTOR FOR THE COLLEGE AND DOES NOT RECEIVE ANY COMPENSATION FOR RUNNING THE RAFFLE. X 0 1 FRIENDS OF THE BOHM THEATRE 201 S SUPERIOR STREET ALBION MI 49224 461255472 501(C)(3) 33673 0 N/A N/A SUPPORT OF LOCAL THEATER 1 0 SCHOLARSHIPS 1405 59654775 N/A N/A PART I, LINE 2: GRANTS ARE PROCURED BY FACULTY WITH THE ASSISTANCE OF THE COLLEGE'S GRANT MANAGER. MONITORING IS DONE BY GRANTEE, GRANT MANAGER AND SENIOR ACCOUNTANT FOR COMPLIANCE. ACTIVITY IS AUDITED AND REPORTED ANNUALLY IN THE COLLEGE'S FINANCIAL STATEMENTS. X X 1 1 X X X X X 1 0 0 0 0 0 0 0 0 DR MATHEW JOHNSON PRESIDENT-THRU DEC 2021 451147 0 0 0 0 0 36440 0 9858 0 497445 0 0 0 HERNAN M BUCHELI VP FOR ENROLLMENT-THRU MAY 2021 219580 0 0 0 0 0 4301 0 14425 0 238306 0 0 0 LEROY WRIGHT VP FOR STUDENT DEVELOPMENT 197422 0 0 0 0 0 11205 0 8973 0 217600 0 0 0 RON B MOURAD PROVOST, VP FOR FACULTY 142313 0 0 0 0 0 42495 0 12905 0 197713 0 0 0 VICKI L BAKER FACULTY 172491 0 0 0 0 0 8078 0 9253 0 189822 0 0 0 GARY R BLACK CHIEF FINANCIAL OFFICER 144255 0 0 0 0 0 27000 0 7798 0 179053 0 0 0 RAYMOND D BARCLAY CHIEF PLANNING OFFICER 155549 0 0 0 0 0 11000 0 563 0 167112 0 0 0 MARC M ROY PROVOST, VP FOR FACULTY - FORMER 106659 0 0 0 0 0 5648 0 13667 0 125974 0 0 0 PART I, LINE 1A THE PRESIDENT IS REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. THIS IS NOT TREATED AS A TAXABLE BENEFIT. THE PRESIDENT RECEIVES HOUSEKEEPING SERVICES BECAUSE OF SCHOOL RELATED FUNCTIONS CONDUCTED IN THE RESIDENCE. THIS IS NOT TREATED AS A TAXABLE BENEFIT. PART I, LINE 4A MARC ROY RECIEVED SEVERANCE IN THE AMOUNT OF 67,561 HERNAN BUCHELI RECIEVED SEVERANCE IN THE AMOUNT 128,333 A MICHIGAN FINANCE AUTHORITY LIMITED OBLIGATION HIGHER EDUCATION FACILITIES 800596186 2017-05-17 53165000 TO REPLACE LETTER OF CREDIT WITH NON-BANK QUALIFIED TAX EXEMPT BOND 0 0 0 B MICHIGAN FINANCE AUTHORITY LIMITED OBLIGATION REVENUE AND REVENUE REFUNDING 800596186 2022-01-12 48895000 REFINANCE PRIOR BOND 0 0 0 A 53165000 2017 1 0 1 1 B 45810000 57001616 8106616 657810 2022 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 1 0 0 0 1 JPMORGAN CHASE BANK NA 14.000000000000 0 0 0 0 1 B 0 1 0 0 0 1 PNC BANK NA 0 0 0 0 1 A 1 B 1 X 3 283100 APPRAISAL X 39 1666668 ESTIMATED FMV X HORSES 3 90000 APPRAISAL 0 1 1 PART I, COLUMN (B): THE ORGANIZATION REPORTS THE NUMBER OF CONTRIBUTIONS RECEIVED NOT THE NUMBER OF ITEMS. PART I, LINE 32B: THE ORGANIZATION SEEKS PROFESSIONAL ASSISTANCE, AS NEEDED, TO SELL NON-CASH CONTRIBUTIONS. PART I, LINE 33: THE ORGANIZATION DOES NOT REPORT REVENUES OR CORRESPONDING EXPENSE FOR COLLECTIONS OF ART OR BOOKS. FORM 990, PART VI, SECTION A, LINE 2 MIKE HARRINGTON, SAMUEL SHAHEEN, WARNER, NORCROSS AND JUDD (J OTT) HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B MEMBERS OF THE BUSINESS OFFICE PROCESS AND FORWARD THE 990 PREPARATION INFORMATION TO AN ELECTRONIC PREPARER AND THE DRAFT FORM 990 IS SENT TO ALL MEMBERS OF THE BOARD OF TRUSTEES AND ALL COLLEGE OFFICERS. THE FORM 990 REVIEW COMMITTEE, COMPRISED OF THE AUDIT AND COMPLIANCE COMMITTEE AND OTHER BOARD MEMBERS AS APPROPRIATE, CONDUCT A RIGOROUS REVIEW OF THE FORM 990. OTHER BOARD MEMBERS MAY SUBMIT REVIEW STATEMENTS TO THE FORM 990 REVIEW COMMITTEE. THIS COMMITTEE REPORTS CHANGES AND CLARIFICATIONS TO THE BUSINESS OFFICE AS NECESSARY. PRIOR TO SUBMISSION OF THE FORM 990 TO THE IRS, ALL MEMBERS OF THE BOARD OF TRUSTEES AND ALL COLLEGE OFFICERS RECEIVE A COPY OF THE FINAL VERSION OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST DOCUMENT IS APPROVED BY THE AUDIT AND COMPLIANCE SUBCOMMITTEE ANNUALLY. THE APPROVED DOCUMENT IS THEN DISTRIBUTED TO BOARD MEMBERS, FACULTY, AND STAFF, AND ALL DOCUMENTS ARE COLLECTED PRIOR TO FINAL RELEASE OF THE 990 TO THE IRS. MEMBERS OF THE BOARD, PRESIDENT'S ADMINISTRATIVE COMMITTEE, FACULTY, AND STAFF WHO HAVE A CONFLICT OF INTEREST IN ANY MATTER SHALL REFRAIN FROM PARTICIPATING IN THE CONSIDERATION OF THE PROPOSED TRANSACTION. THE PERSON OR PERSONS INVOLVED WILL NOT VOTE ON SUCH MATTERS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE PRESIDENT IS REVIEWED ANNUALLY. COMPENSATION DETERMINATION PROCESS INCLUDED 1) REVIEW OF GROUP COMPENSATION, 2) ADVISEMENT FROM INDEPENDENT SEARCH CONSULTANT, 3) DISCUSSIONS OF PRESIDENTIAL SEARCH SUB-COMMITTEE OF THE BOARD OF DIRECTORS. OTHER OFFICERS AND KEY EMPLOYEES' COMPENSATION IS REVIEWED AT HIRING DATE. COMPENSATION DETERMINATION PROCESS INCLUDED 1) REVIEW OF PEER GROUP COMPENSATION, 2) ADVISEMENT FROM INDEPENDENT SEARCH CONSULTANTS, AND 3) CONSULTATION WITH PRESIDENTS OF OTHER HIGHER EDUCATION INSTITUTIONS. THE PRESIDENT'S COMPENSATION WAS LAST REVIEWED IN FISCAL YEAR ENDED 2022. FORM 990, PART VI, SECTION C, LINE 19 REQUESTS ARE FORWARDED TO THE ALBION COLLEGE BUSINESS OFFICE WHERE A PAPER COPY IS PROVIDED TO THE REQUESTEE WITHIN A FEW DAYS. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENTS 843,402. PENSION-RELATED CHANGES OTHER THAN NET PERIODIC PENSION COST -142,472. TRANSFER FROM COLCHESTER PROPERTIES -26,445. FORM 990, PART XII, LINE 2C: THE OVERSIGHT PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. BRITON INVESTMENTS LLC 611 EAST PORTER STREET ALBION MI 49224 271782807 REAL ESTATE HOLDING MI 0 489168 ALBION COLLEGE COLCHESTER PROPERTIES INC 611 EAST PORTER STREET ALBION MI 49224 382025320 REAL ESTATE HOLDING MI 501(C)(2) N/A ALBION COLLEGE 1 DOWNTOWN ALBION HOTEL 200 S SUPERIOR STREET ALBION MI 49224 472316965 HOTEL MI ALBION COLLEGE PARTNERSHIP 166005 2850757 0 0 0.53000 BRITON ACRES INC 611 EAST PORTER STREET ALBION MI 49224 381361836 REAL ESTATE HOLDING MI ALBION COLLEGE C 1.00000 1 WG CONSTRUCTION SERVICES LLC 101 S MONROE ALBION MI 49224 862086670 CONSTRUCTION MI ALBION COLLEGE C 149450 -28873 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0