DORSEY COLLEGE HOLDINGS: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- DORSEY COLLEGE HOLDINGS (EIN 92-2890279)
- Tax period
- 2023-07-01 to 2024-06-30
- Filed
- 2025-05-06
- IRS object ID
- 202541269349301049
- Schema version
- 2023v6.0
- 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 D
- Schedule E
- Schedule I
- Schedule J
- Schedule K
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-05-06T09:00:31-05:00 | ReturnTs |
| Tax Period End | 2024-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 430765316 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RUBINBROWN LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7676 FORSYTH BLVD SUITE 2100 | AddressLine1Txt |
| City | SAINT LOUIS | CityNm |
| State Abbreviation | MO | StateAbbreviationCd |
| ZIP | 63105 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 922890279 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DORSEY COLLEGE HOLDINGS | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | DORS | BusinessNameControlTxt |
| Phone | 2485859200 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 31799 JOHN R ROAD | AddressLine1Txt |
| City | MADISON HEIGHTS | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48071 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DENISE BOCK | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 2485859200 | PhoneNum |
| Signature | 2025-04-24 | 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 | KIMBERLY A RYAN | PreparerPersonNm |
| PTIN | P00829977 | PTIN |
| Phone | 3142903300 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
Doing Business As Name DoingBusinessAsName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DORSEY COLLEGE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | DENISE BOCK | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 31799 JOHN R ROAD | AddressLine1Txt |
| City | MADISON HEIGHTS | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48071 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $48,103,648 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.DORSEY.EDU | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2023 | FormationYr |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Activity Or Mission | DORSEY COLLEGE IS COMMITTED TO PROVIDING QUALITY CAREER EDUCATION AND POSITIVE REINFORCEMENT TO ENABLE THE DEVELOPMENT OF SELF-ESTEEM, SELF-RELIANCE, PROFESSIONALISM AND CONFIDENCE IN ALL STUDENTS COUPLED WITH AN OBLIGATION TO SUPPORT THE DIVERSE COMMUNITIES IN WHICH THEY LIVE AND WORK. DORSEY COLLEGE REMAINS A COMMITTED CAREER TRAINING SCHOOL THAT PREPARES INDIVIDUALS FOR PROMISING CAREER OPPORTUNITIES IN THE NURSING, HEALTHCARE, EMERGENCY MEDICAL SERVICES, CULINARY ARTS, SKILLED TRADES, AND BEAUTY FIELDS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 13 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 13 | VotingMembersIndependentCnt |
| Total Employee | 629 | TotalEmployeeCnt |
| Total Volunteers | 14 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $12,609,525 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $47,641,310 | CYProgramServiceRevenueAmt |
| PY Investment Income | $0 | PYInvestmentIncomeAmt |
| CY Investment Income | $0 | CYInvestmentIncomeAmt |
| PY Other Revenue | $124,065 | PYOtherRevenueAmt |
| CY Other Revenue | $462,338 | CYOtherRevenueAmt |
| PY Total Revenue | $12,733,590 | PYTotalRevenueAmt |
| CY Total Revenue | $48,103,648 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $189,643 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $1,178,911 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $6,118,903 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $24,141,988 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $6,595,348 | PYOtherExpensesAmt |
| CY Other Expenses | $25,032,007 | CYOtherExpensesAmt |
| PY Total Expenses | $12,903,894 | PYTotalExpensesAmt |
| CY Total Expenses | $50,352,906 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$170,304 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$2,249,258 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $45,993,893 | TotalAssetsBOYAmt |
| Total Assets EOY | $43,279,235 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $46,164,197 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $45,698,797 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | -$170,304 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | -$2,419,562 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | DORSEY COLLEGE IS COMMITTED TO PROVIDING QUALITY CAREER EDUCATION AND POSITIVE REINFORCEMENT TO ENABLE THE DEVELOPMENT OF SELF-ESTEEM, SELF-RELIANCE, PROFESSIONALISM AND CONFIDENCE IN ALL STUDENTS COUPLED WITH AN OBLIGATION TO SUPPORT THE DIVERSE COMMUNITIES IN WHICH THEY LIVE AND WORK. DORSEY COLLEGE REMAINS A COMMITTED CAREER TRAINING SCHOOL THAT PREPARES INDIVIDUALS FOR PROMISING CAREER OPPORTUNITIES IN THE NURSING, HEALTHCARE, EMERGENCY MEDICAL SERVICES, CULINARY ARTS, SKILLED TRADES, AND BEAUTY FIELDS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $41,871,053 | ExpenseAmt |
| Grant | $1,178,911 | GrantAmt |
| Revenue | $48,103,648 | RevenueAmt |
| Desc | INSTRUCTIONAL - FACULTY, LIBRARY AND CURRICULUM EXPENSE FOR STUDENTS EARNING CERTIFICATE AND ASSOCIATE DEGREES SERVING APPROXIMATELY 2,100 STUDENTS AS OF THE FISCAL YEAR ENDED 6/30/2024. APPROXIMATELY 5,200 STUDENTS WERE SERVED. STUDENT SERVICES - ALONG WITH ADMISSIONS, ACADEMIC SERVICES, AND FINANCIAL AID DEPARTMENTS. | Desc |
| Total Program Service Expenses | $41,871,053 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | 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 | Yes (1) | 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 | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | 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 | 4632 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 629 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| 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 | 13 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 13 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | 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 | MI | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DENISE BOCK | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2485859200 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 31799 JOHN R ROAD | AddressLine1Txt |
| City | MADISON HEIGHTS | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48071 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (24 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|---|
| DONALD TUTTLE | |||||||||
| CHAIRMAN | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| HARRY CHIP PETERSON | |||||||||
| VICE CHAIRMAN | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| CHERYL MATEJKA | |||||||||
| COMMITTEE CHAIR | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JO ANNA POLLOCK | |||||||||
| COMMITTEE CHAIR | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| PATRICIA PENKOSKE | |||||||||
| COMMITTEE CHAIR | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JUSTIN FOUST | |||||||||
| COMMITTEE CHAIR | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| HAL GENTRY | |||||||||
| COMMITTEE CHAIR | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| LASHANA BARNES | |||||||||
| BOARD MEMBER | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| CYNTHIA FRISINA | |||||||||
| BOARD MEMBER | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| DAVID MASON | |||||||||
| BOARD MEMBER | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JERRY SCHEIDEGGER | |||||||||
| BOARD MEMBER | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| GARY SHAW | |||||||||
| BOARD MEMBER | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| LAURA TAYLOR | |||||||||
| BOARD MEMBER | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JIMMY WILLIAMS | |||||||||
| BOARD MEMBER (THRU 11/2023) | 1.00 | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JOHN PORTER | |||||||||
| CORPORATE PRESIDENT/PRESIDENT (LES) | 5.00 | 40.00 | $0 | $722,569 | $31,884 | Yes (X) | |||
| MARK FALKOWSKI | |||||||||
| CORPORATE SECRETARY/GENERAL COUNSEL | 5.00 | 40.00 | $0 | $367,925 | $29,062 | Yes (X) | |||
| JOHN BARNES | |||||||||
| CORPORATE VP/PRESIDENT & CEO | 40.00 | 2.00 | $255,807 | $0 | $2,426 | Yes (X) | |||
| DENISE BOCK | |||||||||
| CORPORATE VICE TREASURER/CFO | 40.00 | 2.00 | $183,131 | $0 | $10,609 | Yes (X) | |||
| JOHN KAUFHOLD | |||||||||
| CORPORATE TREASURER/CFO (LES) | 5.00 | 40.00 | $0 | $278,551 | $21,172 | Yes (X) | |||
| RICHARD REED | |||||||||
| CHIEF ADMISSIONS OFFICER | 40.00 | 2.00 | $182,301 | $0 | $10,530 | Yes (X) | |||
| KIM PECK | |||||||||
| CHIEF ADMINISTRATIVE OFFICER | 40.00 | 2.00 | $148,315 | $0 | $1,366 | Yes (X) | |||
| LANCE A CRAVEN | |||||||||
| SENIOR VP OF CAMPUS OPERATIONS | 40.00 | 2.00 | $131,183 | $0 | $1,226 | Yes (X) | |||
| KAWESI PRICE | |||||||||
| DIRECTOR OF INFORMATION TECHNOLOGY | 40.00 | 2.00 | $117,767 | $0 | $10,003 | Yes (X) | |||
| MARCHELLE MCCLEAN | |||||||||
| VP EDUCATION AND CAREER SERVICES | 40.00 | 2.00 | $116,956 | $0 | $5,089 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,135,460 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $1,369,045 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $123,367 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 7 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MCCLINTOCK & ASSOCIATES | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1370 WASHINGTON PIKE | AddressLine1Txt |
| City | BRIDGEVILLE | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 15017 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | ACCOUNTING SERVICES | ServicesDesc |
| Compensation | $306,148 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INSTRUCTION | Desc |
| Business | 611310 | BusinessCd |
| Total Revenue Column | $47,641,310 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $47,641,310 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $47,641,310 | TotalProgramServiceRevenueAmt |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $462,338 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $462,338 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $462,338 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $48,103,648 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $48,103,648 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,178,911 | TotalAmt |
| Program Services | $1,178,911 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $889,049 | TotalAmt |
| Program Services | $442,557 | ProgramServicesAmt |
| Management And General | $446,492 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $20,064,231 | TotalAmt |
| Program Services | $16,518,995 | ProgramServicesAmt |
| Management And General | $3,545,236 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $139,138 | TotalAmt |
| Program Services | $105,028 | ProgramServicesAmt |
| Management And General | $34,110 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,365,704 | TotalAmt |
| Program Services | $1,043,628 | ProgramServicesAmt |
| Management And General | $322,076 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,683,866 | TotalAmt |
| Program Services | $1,248,299 | ProgramServicesAmt |
| Management And General | $435,567 | ManagementAndGeneralAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $438,000 | TotalAmt |
| Management And General | $438,000 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $53,220 | TotalAmt |
| Management And General | $53,220 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $204,000 | TotalAmt |
| Management And General | $204,000 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,133,593 | TotalAmt |
| Program Services | $5,133,593 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $121,883 | TotalAmt |
| Program Services | $105,954 | ProgramServicesAmt |
| Management And General | $15,929 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $961,861 | TotalAmt |
| Program Services | $473,686 | ProgramServicesAmt |
| Management And General | $488,175 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,062,186 | TotalAmt |
| Program Services | $4,829,280 | ProgramServicesAmt |
| Management And General | $232,906 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $56,894 | TotalAmt |
| Program Services | $16,425 | ProgramServicesAmt |
| Management And General | $40,469 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,940,799 | TotalAmt |
| Program Services | $616,465 | ProgramServicesAmt |
| Management And General | $1,324,334 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,150,696 | TotalAmt |
| Program Services | $1,030,696 | ProgramServicesAmt |
| Management And General | $120,000 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $334,486 | TotalAmt |
| Management And General | $334,486 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| STUDENT SUPPLIES & TEST | $2,844,726 | $2,844,726 | |
| BAD DEBT | $2,759,210 | $2,759,210 | |
| INSTRUCTIONAL EXPENSE | $2,189,255 | $2,186,887 | $2,368 |
| RECRUITMENT | $472,938 | $423,662 | $49,276 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,308,260 | TotalAmt |
| Program Services | $913,051 | ProgramServicesAmt |
| Management And General | $395,209 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $50,352,906 | TotalAmt |
| Program Services | $41,871,053 | ProgramServicesAmt |
| Management And General | $8,481,853 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,188,736 | BOYAmt |
| EOY | $496,918 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $647,305 | BOYAmt |
| EOY | $1,533,897 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,053,893 | BOYAmt |
| EOY | $1,538,620 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $291,250 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $806,092 | BOYAmt |
| EOY | $534,878 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $6,188,842 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $1,468,996 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,141,600 | BOYAmt |
| EOY | $4,719,846 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,849,996 | BOYAmt |
| EOY | $16,849,996 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,306,271 | BOYAmt |
| EOY | $17,313,830 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $45,993,893 | BOYAmt |
| EOY | $43,279,235 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,858,291 | BOYAmt |
| EOY | $3,196,371 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,807,009 | BOYAmt |
| EOY | $2,304,683 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,830,220 | BOYAmt |
| EOY | $23,066,667 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,668,677 | BOYAmt |
| EOY | $17,131,076 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $46,164,197 | BOYAmt |
| EOY | $45,698,797 | 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 | -$170,304 | BOYAmt |
| EOY | -$2,419,562 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$170,304 | BOYAmt |
| EOY | -$2,419,562 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $45,993,893 | BOYAmt |
| EOY | $43,279,235 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$2,249,258 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | 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) |
|---|---|---|
| Consol And Sep Basis Fincl Stmt | Yes (X) | ConsolAndSepBasisFinclStmtInd |
| 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 D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,464,092 | OtherCostOrOtherBasisAmt |
| Depreciation | $972,939 | DepreciationAmt |
| Book Value | $3,491,153 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,724,750 | OtherCostOrOtherBasisAmt |
| Depreciation | $496,057 | DepreciationAmt |
| Book Value | $1,228,693 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $4,719,846 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (3 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| RIGHT-TO-USE ASSETS | $16,470,143 |
| DUE FROM RELATED PARTIES | $781,334 |
| SECURITY DEPOSITS | $62,353 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $17,313,830 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| LEASE LIABILITY | $16,684,244 |
| DUE TO RELATED PARTIES | $446,832 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $17,131,076 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $46,924,737 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | -$1,178,911 | OtherRevenueAmt |
| Revenue Not Reported | -$1,178,911 | RevenueNotReportedAmt |
| Revenue Subtotal | $48,103,648 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $48,103,648 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $49,173,995 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $49,173,995 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $1,178,911 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $1,178,911 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $50,352,906 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | INSTITUTIONAL SCHOLARSHIP ALLOWANCE -1,178,911. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | INSTITUTIONAL SCHOLARSHIP ALLOWANCE 1,178,911. |
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 | ALL ADVERTISEMENTS (I.E. CATALOGS) INCLUDE STATEMENTS RECOMMENDED FOR IRS EXEMPT ORGANIZATIONS. DORSEY REGULARLY PUBLICIZES ITS RACIAL NONDISCRIMINATION POLICY STATEMENT IN BROADCAST MEDIA, INCLUDING PERMANENTLY ON ITS WEBSITE, AND IN OTHER MATERIALS TO HELP ENSURE IT IS KNOWN TO THE GENERAL COMMUNITY IT SERVES. |
| SCHEDULE E, PART I, LINE 6 | GOVERNMENTAL AID HAS BEEN RECEIVED THIS YEAR AS FOLLOWS: STUDENT FINANCIAL AID FROM THE U.S. DEPARTMENT OF EDUCATION, FEDERAL WORK-STUDY AND FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT PROGRAMS. |
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 | 1518 | RecipientCnt |
| Cash Grant | $1,178,911 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | ALL STUDENT AID AWARD LETTERS ARE PREPARED BY DORSEY COLLEGE'S FINANCIAL AID OFFICE. EACH AWARD LETTER HAS A STATEMENT OF CONDITIONS AND IS SIGNED BY THE STUDENT. THE BUSINESS OFFICE POSTS ALL AID TO THE STUDENT'S ACCOUNT FOR ACADEMIC USAGE. BOTH THE BUSINESS OFFICE AND THE FINANCIAL AID OFFICE MONITOR THESE FUNDS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| 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 | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (6 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JOHN PORTER | ||||||||||||||
| CORPORATE PRESIDENT/PRESIDENT (LES) | $0 | $503,875 | $0 | $218,694 | $0 | $0 | $0 | $16,500 | $0 | $15,384 | $0 | $754,453 | $0 | $0 |
| MARK FALKOWSKI | ||||||||||||||
| CORPORATE SECRETARY/GENERAL COUNSEL | $0 | $299,591 | $0 | $68,334 | $0 | $0 | $0 | $15,920 | $0 | $13,142 | $0 | $396,987 | $0 | $0 |
| JOHN KAUFHOLD | ||||||||||||||
| CORPORATE TREASURER/CFO (LES) | $0 | $278,551 | $0 | $0 | $0 | $0 | $0 | $13,037 | $0 | $8,135 | $0 | $299,723 | $0 | $0 |
| JOHN BARNES | ||||||||||||||
| CORPORATE VP/PRESIDENT & CEO | $255,807 | $0 | $0 | $0 | $0 | $0 | $2,304 | $0 | $122 | $0 | $258,233 | $0 | $0 | $0 |
| DENISE BOCK | ||||||||||||||
| CORPORATE VICE TREASURER/CFO | $183,131 | $0 | $0 | $0 | $0 | $0 | $1,452 | $0 | $9,157 | $0 | $193,740 | $0 | $0 | $0 |
| RICHARD REED | ||||||||||||||
| CHIEF ADMISSIONS OFFICER | $182,301 | $0 | $0 | $0 | $0 | $0 | $1,512 | $0 | $9,018 | $0 | $192,831 | $0 | $0 | $0 |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MICHIGAN FINANCE AUTHORITY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Issuer EIN | 386000134 | BondIssuerEIN |
| Bond Issued | 2023-12-01 | BondIssuedDt |
| Issue Price | $24,163,000 | IssuePriceAmt |
| Purpose | RETIRE EXISTING LONG-TERM NOTE PAYABLE AND FUND ISSUANCE COST | PurposeDesc |
| Defeased | 0 | DefeasedInd |
| On Behalf Of Issuer | Yes (1) | OnBehalfOfIssuerInd |
| Pool Financing | 0 | PoolFinancingInd |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Total Proceeds | $24,163,000 | TotalProceedsAmt |
| Issuance Costs From Proceeds | $163,000 | IssuanceCostsFromProceedsAmt |
| Refunding Tax Exempt Bonds | Yes (1) | RefundingTaxExemptBondsInd |
| Refunding Taxable Bonds | 0 | RefundingTaxableBondsInd |
| Final Allocation Made | Yes (1) | FinalAllocationMadeInd |
| Adequate Books And Rec Maint | Yes (1) | AdequateBooksAndRecMaintInd |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Owning Bond Financed Property | Yes (1) | OwningBondFinancedPropertyInd |
| Any Lease Arrangements | 0 | AnyLeaseArrangementsInd |
| Mgmt Contract Bond Fincd Prop | 0 | MgmtContractBondFincdPropInd |
| Any Research Agreements | 0 | AnyResearchAgreementsInd |
| Private Bus Concerning UBI | 1.00000 | PrivateBusConcerningUBIPct |
| Total Private Business Use | 1.00000 | TotalPrivateBusinessUsePct |
| Bond Iss Meet Prvt Sec Pymt Test | Yes (1) | BondIssMeetPrvtSecPymtTestInd |
| Change In Use Bond Financed Prop | 0 | ChangeInUseBondFinancedPropInd |
| Procs Nonqualified Bond Remdtd | Yes (1) | ProcsNonqualifiedBondRemdtdInd |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Form8038 T Filed | 0 | Form8038TFiledInd |
| Rebate Not Due Yet | Yes (1) | RebateNotDueYetInd |
| Exception To Rebate | 0 | ExceptionToRebateInd |
| No Rebate Due | 0 | NoRebateDueInd |
| Variable Rate Issue | 0 | VariableRateIssueInd |
| Hedge Identified In Bks And Rec | 0 | HedgeIdentifiedInBksAndRecInd |
| Gross Proceeds Invested In GIC | 0 | GrossProceedsInvestedInGICInd |
| Written Proc To Monitor Reqs | Yes (1) | WrittenProcToMonitorReqsInd |
Procedures Corrective Action ProceduresCorrectiveActionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Procedures Corrective Action | Yes (1) | ProceduresCorrectiveActionInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, BOND ISSUE A: | FormAndLineReferenceDesc |
| Explanation | THE BONDS WERE ISSUED TO (I) REFINANCE AND REFUND PRIOR INDEBTEDNESS USED BY DORSEY COLLEGE TO ACQUIRE EDUCATIONAL FACILITIES AND RELATED FACILITIES WITHIN THE STATE OF MICHIGAN, AND (II) PAY COSTS OF ISSUANCE. THE BONDS ARE SECURED BY A BOND GUARANTY AGREEMENT EXECUTED BY LINDENWOOD EDUCATION SYSTEM, A MISSOURI NONPROFIT CORPORATION, AND LINDENWOOD UNIVERSITY, LLC, A MISSOURI LIMITED LIABILITY COMPANY, AS JOINT AND SEVERAL GUARANTORS. ADDITIONAL SECURITY IS PROVIDED THROUGH A SECURITIES ACCOUNT PLEDGE AGREEMENT. U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION SERVES AS BOND TRUSTEE. CLAYTON HOLDINGS, LLC PURCHASED THE BONDS. COMPLIANCE PROCEDURES: THE ORGANIZATION HAS ESTABLISHED WRITTEN PROCEDURES FOR: 1) MONITORING PRIVATE BUSINESS USE OF BOND-FINANCED FACILITIES, 2) ENSURING TIMELY IDENTIFICATION AND CORRECTION OF VIOLATIONS THROUGH REMEDIAL ACTION OR VOLUNTARY CLOSING AGREEMENT PROGRAM, 3) MAINTAINING RECORDS SUPPORTING THE TAX-EXEMPT STATUS, 4) MONITORING ARBITRAGE COMPLIANCE INCLUDING REBATE CALCULATIONS, 5) POST-ISSUANCE COMPLIANCE INCLUDING TIMELY FILINGS THE BOND INDENTURE AND LOAN AGREEMENT PROVISIONS REQUIRE THE MAINTENANCE OF TAX-EXEMPT STATUS OF THE BONDS AND INCLUDE COVENANTS RELATED TO ARBITRAGE COMPLIANCE, USE OF PROCEEDS, AND PRIVATE USE LIMITATIONS. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE SOLE MEMBER OF DORSEY COLLEGE HOLDINGS IS LINDENWOOD EDUCATION SYSTEM. |
| FORM 990, PART VI, SECTION B, LINE 11B | INFORMATION NEEDED TO COMPLETE THE FORM 990 IS COMPILED BY THE ACCOUNTING DEPARTMENT AND THE RETURN IS PREPARED AND SIGNED BY RUBINBROWN LLP. THE COMPLETED 990, INCLUDING REQUIRED SCHEDULES IS PROVIDED TO THE BOARD OF TRUSTEES BEFORE FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | PRIOR TO A TRUSTEE ACTION ON A CONTRACT OR TRANSACTION INVOLVING A CONFLICT OF INTEREST, A TRUSTEE HAVING A CONFLICT OF INTEREST AND WHO IS IN ATTENDANCE AT THE MEETING SHALL DISCLOSE ALL FACTS MATERIAL TO THE CONFLICT OF INTEREST. A DIRECTOR OR COMMITTEE MEMBER WHO PLANS NOT TO ATTEND A MEETING AT WHICH HE OR SHE HAS REASON TO BELIEVE THAT THE BOARD OR COMMITTEE WILL ACT ON A MATTER IN WHICH THE PERSON HAS A CONFLICT OF INTEREST SHALL DISCLOSE TO THE CHAIR OF THE MEETING ALL FACTS MATERIAL TO THE CONFLICT OF INTEREST. A PERSON WHO HAS A CONFLICT OF INTEREST SHALL NOT PARTICIPATE IN OR BE PERMITTED TO HEAR THE BOARD'S OR COMMITTEE'S DISCUSSION OF THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS AND TO RESPOND TO QUESTIONS. A PERSON WHO HAS A CONFLICT OF INTEREST WITH RESPECT TO A CONTRACT OR TRANSACTION THAT WILL BE VOTED ON AT A MEETING SHALL NOT BE COUNTED IN DETERMINING THE PRESENCE OF A QUORUM FOR PURPOSES OF THE VOTE. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE BOARD OF TRUSTEES APPROVES THE CEO'S COMPENSATION CHANGES AND ANY BONSUES TO BE PAID. ALL OTHER EMPLOYEE COMPENSATION IS REVIEWED AS PART OF THE ANNUAL BUDGET PROCESS AND APPROVED BY THE BOARD OF TRUSTEES. THE AMOUNT OF COMPENSATION IS DETERMINED BY THE BOARD OF TRUSTEES. THIS BOARD OF TRUSTEES CONSISTED OF BOARD MEMBERS WITH VARIOUS PROFESSIONAL, LEGAL, AND BUSINESS BACKGROUNDS. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC AT THIS TIME. THE COLLEGE WILL PROVIDE A COPY OF THE IRS FORM 990 UPON WRITTEN REQUEST TO THE COLLEGE. |
| FORM 990, SUPPLEMENTAL INFORMATION | THIS IRS FORM 990 INCLUDES THE ACTIVITIES OF DORSEY COLLEGE HOLDINGS, A MICHIGAN NONPROFIT CORPORATION, AND A WHOLLY-OWNED SUBSIDIARY OF LINDENWOOD EDUCATION SYSTEM, WHICH IS A MISSOURI NONPROFIT CORPORATION. DORSEY COLLEGE HOLDINGS WAS FORMED TO HOLD THE ACTIVITIES AND ASSETS OF DORSEY COLLEGE. THE ACTIVITIES OF LINDENWOOD EDUCATION SYSTEM ARE NOT INCLUDED ON THIS IRS FORM 990 FOR DORSEY COLLEGE HOLDINGS, SINCE THE LINDENWOOD EDUCATION SYSTEM WAS ESTABLISHED AS A 501(C)(3), AND THUS REPORTS ITS ACTIVITIES ON A SEPARATE, STAND-ALONE, IRS FORM 990. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LINDENWOOD EDUCATION SYSTEM | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 209 SOUTH KINGSHIGHWAY | AddressLine1Txt |
| City | ST CHARLES | CityNm |
| State Abbreviation | MO | StateAbbreviationCd |
| ZIP | 63301 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 430652649 | EIN |
| Primary Activities | EDUCATIONAL INSTITUTION | PrimaryActivitiesTxt |
| Legal Domicile State | MO | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | LINE 2 | PublicCharityStatusTxt |
| 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 | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | 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 |
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