2020-05-18T15:00:39-05:00 2019-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2018-07-01 381374230 HILLSDALE COLLEGE HILL 5174377341 33 E COLLEGE STREET HILLSDALE MI 49242 PATRICK FLANNERY TREASURER 5174377341 2020-05-14 1 VICKI L VANDENBERG CPA P00100422 2695674500 2020-05-14 24.127.213.245 2020-05-14 10:54:51 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 D1A42FCEE5CBCA1835161BC59C75369F1B7E9248 2018 2020-11-06 18:47:13Z LARRY P ARNN 33 E COLLEGE STREET HILLSDALE MI 49242 211487883 0 X WWW.HILLSDALE.EDU X 1844 MI HILLSDALE COLLEGE IS A PRIVATE LIBERAL ARTS COLLEGE WITH APPROXIMATELY 1,500 STUDENTS. FOUNDED IN 1844, THE COLLEGE REMAINS, IN THE WORDS OF ITS ARTICLES OF ASSOCIATION, "GRATEFUL TO GOD FOR THE INESTIMABLE BLESSINGS RESULTING FROM THE PREVALENCE OF CIVIL AND RELIGIOUS LIBERTY AND INTELLIGENT PIETY" IN OUR NATION, AND DEDICATED TO "THE DIFFUSION OF SOUND LEARNING" THAT IS "ESSENTIAL TO THE PERPETUITY OF THESE BLESSINGS." 34 31 2022 774 1725571 330711 147294211 128396316 54337372 54990529 15069662 23739786 2655182 3516790 219356427 210643421 27459088 27137417 0 0 51344684 56109344 0 0 34917941 73195987 82981990 151999759 166228751 67356668 44414670 1119189218 1163398369 107933056 106730965 1011256162 1056667404 X SEE SCHEDULE O 0 0 52847398 0 42334750 STUDENT INSTRUCTION HILLSDALE COLLEGE MAINTAINS ITS DEFENSE OF THE CLASSICAL LIBERAL ARTS CURRICULUM, CONVINCED THAT IT IS THE BEST PREPARATION FOR MEETING THE CHALLENGES OF MODERN LIFE AND THAT IT OFFERS TO ALL PEOPLE OF ALL BACKGROUNDS NOT ONLY AN IMPORTANT BODY OF KNOWLEDGE, BUT ALSO TIMELESS TRUTHS ABOUT THE HUMAN CONDITION. THE LIBERAL ARTS ARE DEDICATED TO STIMULATING STUDENTS' INTELLECTUAL CURIOSITY, TO ENCOURAGING THE CRITICAL, WELL-DISCIPLINED MIND, AND TO FOSTERING PERSONAL GROWTH THROUGH ACADEMIC CHALLENGE. AS SUCH, THE COLLEGE MAINTAINS A RIGOROUS CORE CURRICULUM OF 50 ACADEMIC CREDITS, INCLUDING REQUIRED COURSES IN WESTERN AND AMERICAN HISTORY, THE GREAT BOOKS, THE U.S. CONSTITUTION, LOGIC AND RHETORIC, PHILOSOPHY, THEOLOGY, MATHEMATICS, THE ARTS AND SCIENCES, AND MORE. IN ADDITION TO THE CORE CURRICULUM, STUDENTS CHOOSE FROM 31 MAJORS AND SEVEN INTERDISCIPLINARY MAJORS. SEVEN MINORS-ONLY PROGRAMS AND NINE PRE-PROFESSIONAL PROGRAMS ARE ALSO OFFERED. THE FOUR-YEAR UNDERGRADUATE COURSE OF STUDY CULMINATES IN A BACHELOR OF ARTS OR BACHELOR OF SCIENCE DEGREE. HILLSDALE COLLEGE IS CONSISTENTLY RANKED HIGH ON LISTS OF THE BEST LIBERAL ARTS COLLEGES IN THE NATION BY SUCH PUBLICATIONS AS U.S. NEWS & WORLD REPORT, THE PRINCETON REVIEW, FORBES, AND KIPLINGER'S PERSONAL FINANCE. IN ADDITION TO ITS UNDERGRADUATE PROGRAM OF INSTRUCTION, THE COLLEGE OPERATES THE VAN ANDEL GRADUATE SCHOOL OF STATESMANSHIP ON CAMPUS, OFFERING MASTER'S AND DOCTORAL DEGREES IN POLITICS, AND THE STEVE & AMY VAN ANDEL GRADUATE SCHOOL OF GOVERNMENT IN WASHINGTON, D.C., OFFERING A MASTER OF ARTS DEGREE IN GOVERNMENT. THE COLLEGE IS COMMITTED TO THE EXCELLENCE OF ITS STUDENTS IN BOTH INTELLECT AND CHARACTER. THIS COMMITMENT IS REFLECTED IN THE STUDENT HONOR CODE, WHICH READS, "A HILLSDALE COLLEGE STUDENT IS HONORABLE IN CONDUCT, HONEST IN WORD AND DEED, DUTIFUL IN STUDY AND SERVICE, AND RESPECTFUL OF THE RIGHTS OF OTHERS. THROUGH EDUCATION THE STUDENT RISES TO SELF-GOVERNMENT." HILLSDALE BOASTS A STUDENT-FACULTY RATIO OF 9 TO 1. IT HAS 143 FULL-TIME FACULTY, 93 PERCENT OF WHOM HOLD THE HIGHEST DEGREE IN THEIR DISCIPLINES. 27112417 27112417 0 STUDENT SCHOLARSHIPS AND GRANTS HILLSDALE COLLEGE HAS BEEN COMMITTED TO INDEPENDENCE SINCE ITS FOUNDING IN 1844. WHEN A 1984 U.S. SUPREME COURT RULING THREATENED HILLSDALE WITH THE ENTIRE RANGE OF FEDERAL REGULATIONS BECAUSE SOME OF ITS STUDENTS RECEIVED FEDERAL FINANCIAL AID, THE COLLEGE RESOLVED THAT NOT A SINGLE HILLSDALE STUDENT WOULD ACCEPT EVEN ONE CENT OF FEDERAL GRANTS, LOANS, OR SCHOLARSHIPS. INSTEAD, HILLSDALE ESTABLISHED THE PRIVATELY FUNDED STUDENT INDEPENDENCE GRANT AND LOAN FUND IN PLACE OF TAXPAYER-FUNDED AID FOR DESERVING STUDENTS WHO SEEK THE KIND OF CLASSICAL LIBERAL ARTS EDUCATION OFFERED AT HILLSDALE. SINCE THE STUDENT INDEPENDENCE GRANT AND LOAN FUND WAS ESTABLISHED IN 1985, HILLSDALE HAS REPLACED FEDERAL AND STATE GRANTS AND LOANS WITH OVER $114 MILLION IN PRIVATE AWARDS. THE ANNUAL COST OF REPLACING GOVERNMENT AID WAS NEARLY $5 MILLION IN THE 2018-2019 ACADEMIC YEAR; THIS TOTAL ASSISTED 527 STUDENTS. IN ADDITION, THE COLLEGE AWARDED $24.7 MILLION IN PRIVATE SCHOLARSHIPS THAT YEAR ON THE BASIS OF FINANCIAL NEED, ACADEMIC MERIT, CAMPUS LEADERSHIP, ATHLETIC AND MUSIC PARTICIPATION, AND OTHER QUALIFICATIONS. APPROXIMATELY 96 PERCENT OF HILLSDALE STUDENTS QUALIFY FOR AND RECEIVE SOME FORM OF INSTITUTIONAL AID. 12207058 0 395895 STUDENT SERVICES HILLSDALE'S STUDENT SERVICES INCLUDE THE ADMISSIONS OFFICE, CAREER SERVICES, ACADEMIC SERVICES, STUDENT AFFAIRS, AND HEALTH AND WELLNESS SERVICES. THE ADMISSIONS OFFICE RECEIVES AN INCREASING NUMBER AND HIGHER CALIBER OF APPLICATIONS EACH YEAR, LEADING TO A SELECTIVE ACCEPTANCE RATE OF 43 PERCENT FOR THE MOST RECENT ACADEMIC YEAR. THE OFFICE EMPHASIZES A HOLISTIC APPROACH TO APPLICATION REVIEWS AND CONDUCTS PERSONAL INTERVIEWS WITH MOST APPLICANTS. THE CAREER SERVICES OFFICE HELPS STUDENTS DEVELOP THEIR STRENGTHS AND INTRODUCES THEM TO OPPORTUNITIES THROUGH MENTORING, NETWORK-BUILDING, JOB FAIRS, AND OTHER PROGRAMS. THE COLLEGE HAS A 97 PERCENT FIVE-YEAR GRADUATE PLACEMENT AVERAGE. A SURVEY OF THE 2017 GRADUATING CLASS SHOWED THAT 70 PERCENT WERE EMPLOYED, 24 PERCENT IN CONTINUING EDUCATION AND GRADUATE PROGRAMS, AND 4 PERCENT IN MILITARY AND VOLUNTEER SERVICE. HILLSDALE'S STUDENT AFFAIRS DEPARTMENT OVERSEES A NUMBER OF STUDENT INTEREST GROUPS, ACADEMIC HONORARIES, VOLUNTEER ORGANIZATIONS, AND THE COLLEGE'S FOUR FRATERNITIES AND THREE SORORITIES. HILLSDALE STUDENTS CONTRIBUTE AN AVERAGE OF 15,000 HOURS OF VOLUNTEER SERVICE TO THE COMMUNITY EACH YEAR. HEALTH AND WELLNESS SERVICES PROVIDES MEDICAL AND MENTAL HEALTH SERVICES TO STUDENTS, FACULTY, AND STAFF. 17044169 25000 14010342 THESE ADDITIONAL PROGRAM SERVICE EXPENSES INCLUDE, BUT ARE NOT LIMITED TO, AUXILIARY SERVICES (BOOKSTORE, RESIDENTIAL, DINING) AND PLAN AND MAINTENANCE OF CAMPUS GROUNDS AND BUILDINGS. 17044169 25000 14010342 109211042 1 1 0 0 0 1 0 1 0 1 1 1 0 1 1 0 1 0 1 0 1 1 1 0 0 1 0 1 1 1 1 0 0 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 1 0 0 1 3320 5 1 2022 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 34 31 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 1 0 X PATRICK FLANNERY 5174377341 33 E COLLEGE STREET HILLSDALE MI 49242 WILLIAM S ATHERTON TRUSTEE 1.00 0.00 X 0 0 0 CHRISTOPHER F BACHELDER TRUSTEE 1.00 0.00 X 0 0 0 STEPHEN M BARNEY TRUSTEE 1.00 0.00 X 0 0 0 DAVID L BELEW TRUSTEE 1.00 0.00 X 0 0 0 TOBIAS W BUCK TRUSTEE 1.00 0.00 X 0 0 0 FRED M BUTLER TRUSTEE 1.00 0.00 X 0 0 0 CHRIS CHOCOLA TRUSTEE 1.00 0.00 X 0 0 0 JEFFREY H COORS TRUSTEE 1.00 0.00 X 0 0 0 CLEVES R DELP TRUSTEE 1.00 0.00 X 0 0 0 THOMAS A DUKE JR TRUSTEE 1.00 0.00 X 0 0 0 DAVID A DURELL TRUSTEE 1.00 0.00 X 0 0 0 WILLIAM L FRAIM TRUSTEE 1.00 0.00 X 0 0 0 STEPHEN S HIGLEY TRUSTEE 1.00 0.00 X 0 0 0 RICHARD E HUNTER TRUSTEE 1.00 0.00 X 0 0 0 MARK L JOHNSON TRUSTEE 1.00 0.00 X 0 0 0 THOMAS N JORDAN JR TRUSTEE 1.00 0.00 X 0 0 0 S GUNNAR KLARR TRUSTEE 1.00 0.00 X 0 0 0 CHARLES S MCINTYRE III TRUSTEE 1.00 10.00 X 0 0 0 NENA C MOSS TRUSTEE 1.00 0.00 X 0 0 0 WAYNE R NELSON TRUSTEE 1.00 0.00 X 0 0 0 RONALD C NOLAN TRUSTEE 1.00 0.00 X 0 0 0 KAY A ORR TRUSTEE 1.00 0.00 X 0 0 0 DANIEL S PETERS TRUSTEE 1.00 0.00 X 0 0 0 J ERIC PLYM TRUSTEE 1.00 0.00 X 0 0 0 THOMAS T ROGERS TRUSTEE 1.00 0.00 X 0 0 0 BRUCE C SANBORN TRUSTEE 1.00 0.00 X 0 0 0 JEAN SCHIAVONE TRUSTEE 1.00 0.00 X 0 0 0 GREGORY C SCHULER TRUSTEE 1.00 10.00 X 0 0 0 JACKSON T STEPHENS JR TRUSTEE 1.00 0.00 X 0 0 0 RONALD E TRZCINSKI TRUSTEE 1.00 0.00 X 0 0 0 RONALD D ROBSON TRUSTEE 1.00 0.00 X 0 0 0 WILLIAM J BRODBECK CHAIRMAN EMERITUS 1.00 10.00 X X 0 0 0 PATRICK L SAJAK CHAIRMAN OF THE BOARD 4.50 0.00 X X 0 0 0 STEPHEN A VAN ANDEL VICE CHAIRMAN OF THE BOARD 4.50 0.00 X X 0 0 0 PATRICK H FLANNERY VP FOR FINANCE & TREASURER 40.00 0.00 X 157709 0 39357 RICHARD P PEWE VP OF ADMIN. AFFAIRS & SECRETARY 40.00 0.00 X 209890 0 46697 LARRY P ARNN PRESIDENT 40.00 10.00 X 990498 0 93706 JOHN CERVINI VP FOR INST. ADVANCEMENT 40.00 10.00 X 469165 0 57820 DAVID M WHALEN PROVOST 40.00 0.00 X 224348 0 47107 ROBERT NORTON VP & GENERAL COUNSEL 40.00 0.00 X 249086 0 49264 ROBERT BLACKSTOCK PROFESSOR OF LAW 40.00 0.00 X 215598 0 41474 MATTHEW SCHLIENTZ VP FOR MARKETING 40.00 0.00 X 200227 0 44353 MATTHEW SPALDING DN OF EDUC PROGRAMS KIRBY CENTER 40.00 0.00 X 257792 0 52040 DOUGLAS JEFFREY VP FOR EXTERNAL AFFAIRS 40.00 0.00 X 198353 0 37275 3172666 0 509093 76 0 1 0 WEIGAND CONSTRUCTION INC 7808 HONEYWELL DR FT WAYNE IN 46825 CONSTRUCTION 12238012 ROCKFORD CONSTRUCTION 601 FIRST ST NW GRAND RAPIDS MI 49504 CONSTRUCTION 6156966 BON APPETIT 2400 YORKMONT RD CHARLOTTE NC 28217 FOOD SERVICE 6001642 NEXT AFTER LLC 5810 TENNYSON PKWY PLANO TX 75024 CONSULTING/MARKETING 3750010 RHA MARKETING 114 W 3RD ST WAYNESBORO PA 17268 PRINTING/MAILING 2492770 88 1200000 127196316 27000617 128396316 TUITION AND FEES 611310 42334750 42334750 AUXILIARY 611310 11553819 11368773 185046 OTHER AUXILIARY 721110 1101960 395895 706065 54990529 3752922 621167 3131755 5130 5130 19978774 108449 0 100359 19978774 8090 19986864 19986864 126490 58017 68473 68473 1086869 686086 400783 108058 292725 INSTITUTIONAL ADVANCEM 611430 559502 559502 TRUSTEE FEES 900099 221250 221250 LEADERSHIP SEMINARS 611430 84425 84425 2177227 1997642 105235 74350 3042404 210643421 56740987 1725571 23780547 X 325400 325400 26041216 26041216 770801 770801 1992057 423689 874066 694302 41590714 29092454 6971856 5526404 3379119 2304842 645014 429263 6322568 4406275 1386500 529793 2824886 1930419 553388 341079 1167655 3508 660284 503863 2029975 2029975 18087780 2350078 1782827 13954875 7878925 4414934 49711 3414280 18709460 13912323 249779 4547358 3875382 765925 2793825 315632 2325 2325 3830085 3081666 743647 4772 5457183 2784498 1074704 1597981 10859 10859 6084440 3210631 126756 2747053 612585 347812 264773 6467885 5751540 583000 133345 COST OF GOODS SOLD 3859842 3859842 EQUIPMENT 529111 500378 28733 GIFTS/AWARDS 471718 441631 18645 11442 MEMBERSHIPS 145018 77121 22407 45490 3761762 2403200 1266286 92276 166228751 109211042 22099768 34917941 141606 49942 54922432 52531608 131537252 114980794 4455794 1553272 34056133 33507039 384747 337330 1931957 2447677 274247144 94929793 161526418 179317351 338030229 384442190 293262017 294636587 98940633 99594579 1119189218 1163398369 23869512 26972780 595532 676563 8873231 8263101 13461699 12832510 61133082 57986011 107933056 106730965 X 110060666 97815867 239497780 245006843 661697716 713844694 1011256162 1056667404 1119189218 1163398369 X 44414670 3302496 -2305924 X X 0 1 X 1 0 X 118585719 109558877 144893509 147294211 128396316 648728632 118585719 109558877 144893509 147294211 128396316 648728632 1210378 647518254 8143809 8208109 7321139 6524869 3136895 33334821 818294 818294 1184845 1179328 1209567 1627115 1398511 6599366 689481113 0.93910 0.90530 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GAMING REVENUE - 2014 AMOUNT: $ 132,216. 2015 AMOUNT: $ 137,225. 2016 AMOUNT: $ 133,286. 2017 AMOUNT: $ 160,724. 2018 AMOUNT: $ 126,490. SALE OF INVENTORY - 2014 AMOUNT: $ 1,052,629. 2015 AMOUNT: $ 1,042,103. 2016 AMOUNT: $ 1,076,281. 2017 AMOUNT: $ 1,017,234. 2018 AMOUNT: $ 978,811. MISCELLANEOUS - 2017 AMOUNT: $ 449,157. 2018 AMOUNT: $ 293,210. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8 146766 152895 4795888 1 1 205010 7394970 X X X 0 668451311 53131785 -3989628 13934324 -12517931 5894256 710282819 574576618 57531204 16451718 12387303 -37686363 5407289 668451311 482288798 33664441 29153531 11089468 -44991818 4432502 574576618 493509003 25622300 -35723718 10251342 -11746426 2613871 482288798 456039624 55319036 -14955673 10195154 -10789095 3487925 493509003 0.04060 0.95940 0.00000 0 1 1 11109565 11109565 179237592 66947907 112289685 17875425 12933621 4941804 66024562 15048265 50976297 179317351 DOMESTIC COMMON STOCKS 43160684 F GOVERNMENT & AGENCY BONDS 5046486 F CORPORATE BONDS 32067037 F HEDGE FUNDS 89461566 F REAL ESTATE 26282981 F OTHER 2227490 F ALTERNATIVES 96390343 F 294636587 ACCRUED INTEREST RECEIVABLE 632146 BENEFICIAL INTERESTS IN TRUSTS 98962433 99594579 LIABILITY ON ANNUITY CONTRACTS & TRUSTS 57986011 57986011 181773482 3302496 -1600023 1702473 180071009 2071825 28500587 30572412 210643421 136907302 1995066 1995066 134912236 2071825 29244690 31316515 166228751 PART III, LINE 4: ALWIN C. CARUS COIN COLLECTION THE CARUS COIN COLLECTION CONSISTS OF A VAST ARRAY OF FOREIGN AND DOMESTIC CURRENCY DIVIDED INTO THREE SMALLER DISPLAYS: AN ANCIENT COIN COLLECTION, AN AMERICAN COINAGE COLLECTION, AND A HISTORY OF MONEY COLLECTION THAT INCLUDES EARLY NON-METAL FORMS OF CURRENCY, PRECIOUS METALS, AND MODERN FIAT CURRENCY. THE COLLECTION WAS LEFT TO HILLSDALE COLLEGE TO BE USED FOR EDUCATIONAL PURPOSES; IT IS A TOOL FOR TEACHING ECONOMICS, HISTORY, FINANCE, AND CLASSICS. PORTIONS OF THE COLLECTION ARE EXHIBITED PUBLICLY AT HILLSDALE COLLEGE EVENTS ACROSS THE COUNTRY, EXTENDING THE EDUCATIONAL BENEFITS OF THE COLLECTION TO A MUCH WIDER AUDIENCE THAT INCLUDES BUSINESS OWNERS, EDUCATORS, COMMUNITY LEADERS, AND OTHER INTERESTED CITIZENS. SPECIAL LIBRARY COLLECTIONS IN ADDITION TO THE MAIN STUDY AND RESEARCH COLLECTIONS, HILLSDALE COLLEGE'S MOSSEY LIBRARY CONTAINS A NUMBER OF RARE AND SPECIAL HOLDINGS, INCLUDING THE LUDWIG VON MISES LIBRARY AND THE RICHARDSON HERITAGE ROOM EARLY AND RARE EDITIONS. LUDWIG VON MISES, THE FATHER OF AUSTRIAN ECONOMICS, CHOSE HILLSDALE COLLEGE TO BE THE RECIPIENT OF HIS PERSONAL LIBRARY BECAUSE OF THE SCHOOL'S COMMITMENT TO TEACH THE PRINCIPLES OF FREEDOM. THIS IMPORTANT COLLECTION OF BOOKS, PAMPHLETS, AND PAPERS RELATED TO FREE-MARKET ECONOMICS IS HOUSED IN THE LUDWIG VON MISES ROOM IN MOSSEY LIBRARY AND IS AVAILABLE TO THE HILLSDALE FACULTY AND STUDENTS FOR RESEARCH. THE RICHARDSON HERITAGE ROOM CONTAINS A COLLECTION OF RARE- AND FIRST-EDITION BOOKS THAT RELATE TO OUR COUNTRY'S FOUNDING AND EARLY AMERICAN HISTORY. LIBERTY WALK AS A SYMBOL OF ITS DEDICATION TO LIBERTY, THE COLLEGE BEGAN IN 2003 TO ESTABLISH THE LIBERTY WALK, A SERIES OF STATUES THROUGHOUT THE CAMPUS THAT DAILY REMIND STUDENTS, FACULTY, AND VISITORS OF THOSE WHO LABORED TO DEFEND FREEDOM. TO DATE, THE COLLECTION INCLUDES EIGHT STATUES: THE ALPHA KAPPA PHI CIVIL WAR SOLDIERS MONUMENT, 1895; GEORGE WASHINGTON, 2003; WINSTON CHURCHILL, 2004; MARGARET THATCHER, 2008; THOMAS JEFFERSON, 2009; ABRAHAM LINCOLN, 2009; RONALD REAGAN, 2011; AND FREDERICK DOUGLASS, 2017. ALL STATUES HAVE BEEN FUNDED THROUGH PRIVATE DONATIONS. PRE-COLUMBIAN ART COLLECTION A COLLECTION OF STATUES, POTTERY, JEWELRY, AND CARVED OR WOVEN VESSELS, THESE ARTIFACTS DATE FROM AS EARLY AS 500 B.C. TO AS LATE AS 1532 A.D., AND ORIGINATE FROM VARIOUS REGIONS OF CENTRAL AND SOUTH AMERICA. INCLUDING WORK FROM CULTURES SUCH AS THE MAYANS AND INCAS, THEY REPRESENT ART IN THE AMERICAS BEFORE THE INTRODUCTION OF EUROPEAN CULTURAL INFLUENCE. THE ARTIFACTS ARE AVAILABLE FOR FACULTY AND STUDENT USE, ESPECIALLY BY THOSE STUDYING PREHISTORIC AND NON-WESTERN ART. DANIEL M. FISK MUSEUM OF NATURAL HISTORY ESTABLISHED IN 1874 BY PROFESSOR DANIEL MOSES FISK, THE FISK MUSEUM OF NATURAL HISTORY CONTAINS THOUSANDS OF BIOLOGICAL, GEOLOGICAL, AND ARCHAEOLOGICAL SPECIMENS. THE FISK MUSEUM SERVES AS A POINT OF DISCOVERY FOR VISITORS TO THE COLLEGE, INSTRUCTIONAL MATERIAL FOR HILLSDALE COLLEGE COURSES, AND RESEARCH SPECIMENS FOR HILLSDALE COLLEGE AND THE GREATER SCIENTIFIC COMMUNITY. TWO RECENT ADDITIONS TO THE COLLECTION INCLUDE REAL-BONE DINOSAUR SKELETONS OF AN EDMONTOSAURUS ANNECTENS AND A TRICERATOPS. PART V, LINE 4: AS STATED PREVIOUSLY, HILLSDALE COLLEGE IS AN INDEPENDENT FOUR-YEAR LIBERAL ARTS INSTITUTION. HILLSDALE DOES NOT ACCEPT ANY FEDERAL OR STATE MONIES FOR THE OPERATION OF THE COLLEGE. ENDOWMENT FUNDS ARE INVESTED IN SUCH A MANNER AS TO PRESERVE AND PROTECT THE COLLEGE'S INDEPENDENCE FROM GOVERNMENT FUNDS. EARNINGS FROM THE ENDOWMENT ARE PRIMARILY USED TO PROVIDE SCHOLARSHIPS TO STUDENTS AND TO FUND THE OPERATIONS OF THE COLLEGE. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN SPLIT INTEREST AGREEMENTS -2,305,924. WITTE FOUNDATION CONSOLIDATED REVENUE 705,901. PART XI, LINE 4B - OTHER ADJUSTMENTS: CGS BOOKSTORE -686,086. CGS PRESS GAMING EXPENSE -58,017. TUITION AND FEES 29,244,690. PART XII, LINE 2D - OTHER ADJUSTMENTS: GAMING EXPENSE 58,017. CGS BOOKSTORE 686,086. CGS PRESS WITTE FOUNDATION CONSOLIDATED EXPENSES 1,250,963. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION AND FEES 29,244,690. 1 1 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 HILLSDALE COLLEGE'S POLICY OF NON-DISCRIMINATION IS WRITTEN INTO ITS ORIGINAL ARTICLES OF ASSOCIATION, WHICH WERE ADOPTED IN 1853. THEY STATE, "THE OBJECT OF THIS INSTITUTION IS AND SHALL BE TO FURNISH TO ALL PERSONS WHO WISH, IRRESPECTIVE OF NATIONALITY, COLOR, OR SEX, A LITERARY, SCIENTIFIC OR THEOLOGICAL EDUCATION AS COMPREHENSIVE AND THOROUGH AS IS USUALLY PURSUED IN OTHER COLLEGES OR THEOLOGICAL SCHOOLS IN THIS COUNTRY, AND TO COMBINE WITH THIS, SUCH MORAL, SOCIAL AND ARTISTIC INSTRUCTION AND CULTURE AS WELL BEST DEVELOP THE MINDS AND IMPROVE THE HEARTS OF THE STUDENTS." HILLSDALE COLLEGE CONTINUES TO BE GOVERNED BY THESE WORDS, AND THEY ARE INCORPORATED INTO THE SCHOOL'S MORE RECENT MISSION STATEMENT. THESE WORDS ARE INCLUDED IN THE COLLEGE CATALOG, AND THEY ARE FEATURED PROMINENTLY IN THE HILLSDALE COLLEGE HONOR CODE. SCHEDULE E, PART I, LINE 4 IN 1844, HILLSDALE COLLEGE WAS FOUNDED ON THE THEN TRULY EXCEPTIONAL PRECEPT OF OFFERING AN EDUCATION TO "ALL PERSONS, IRRESPECTIVE OF NATIONALITY, COLOR OR SEX." IT ENROLLED AFRICAN AMERICANS, WOMEN, AND OTHER MINORITIES NEARLY TWO DECADES BEFORE THE CIVIL WAR. HILLSDALE WAS THE FIRST COLLEGE IN THE NATION TO HAVE ITS PRINCIPLES OF NONDISCRIMINATION WRITTEN INTO ITS STATE CHARTER. IT WAS THE FIRST MICHIGAN COLLEGE AND THE SECOND IN THE NATION TO ADMIT WOMEN ON AN EQUAL BASIS WITH MEN, AND IT WAS THE SECOND COLLEGE IN THE NATION TO CONFER THE B.A. TO WOMEN. EVEN PRIOR TO THE CIVIL WAR, IT REFUSED TO SPECIFY RACE ON RECORDS OR TO BASE DECISIONS OR POLICIES ON THE RACE OF ITS STUDENTS, FACULTY, OR STAFF. TODAY, IT BASES ADMISSIONS AND HIRING PRACTICES ON QUALIFICATION, COMPETENCE, AND MERIT WITHOUT REGARD TO RACE, COLOR, RELIGION, NATIONAL ORIGIN, SEX, AGE, DISABILITY, OR ANY OTHER LEGALLY PROTECTED STATUS. ACCORDINGLY, IT DOES NOT KEEP RECORD OF THE RACE OF ANY OF ITS STUDENTS, FACULTY, 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS INVESTMENTS 7606216 CENTRAL AMERICA AND THE CARIBBEAN 0 0 MANAGEMENT INSURANCE 1500 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES RECRUITMENT 6525 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SERVICES EDITORIAL WORK 11692 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SERVICES COLLEGE SPONSORED STUDENT TRIP 104353 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SERVICES HONORARIUMS 56300 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SERVICES SPEAKER EXPENSES 18292 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SERVICES STUDENT STIPENDS 13050 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 MANAGEMENT LEGAL FEES, SOFTWARE 16029 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SERVICES SUBSCRIPTIONS 12737 NORTH AMERICA 0 0 MANAGEMENT INSURANCE 12000 NORTH AMERICA 0 0 PROGRAM SERVICES PROFESSIONAL SERVICES 4625 NORTH AMERICA 0 0 PROGRAM SERVICES CHAPEL CONSTRUCTION 1004174 NORTH AMERICA 0 0 PROGRAM SERVICES HONORARIUMS 1629 NORTH AMERICA 0 0 PROGRAM SERVICES SPEAKING AT SEMINARS/CONFERENCES 747 NORTH AMERICA 0 0 PROGRAM SERVICES PURCHASE OF GOODS 88550 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDENT STIPENDS 6220 E ASIA & PACIFIC 0 0 SCHOLARSHIPS N/A 81996 EUROPE 0 0 SCHOLARSHIPS N/A 241642 MIDDLE EAST & NORTH AFRICA 0 0 SCHOLARSHIPS N/A 22100 NORTH AMERICA 0 0 SCHOLARSHIPS N/A 57700 SOUTH AMERICA 0 0 SCHOLARSHIPS N/A 26300 SUB-SAHARAN AFRICA 0 0 SCHOLARSHIPS N/A 174102 0 0 0 0 0 0 7817928 1750551 9568479 EUROPE STUDENT TUITION 104353 WIRE BOOK EUROPE HONORAIUM 11642 WIRE BOOK 0 4 SCHOLARSHIP EAST ASIA & THE PACIFIC 4 81996 APPLIED AGAINST ACCOUNT 0 BOOK STUDENT STIPEND EUROPE 1 10050 WIRE 0 BOOK HONORARIUM EUROPE 2 25050 WIRE 0 BOOK HONORARIUM EUROPE 1 10146 CHECK 0 BOOK SCHOLARSHIP EUROPE 9 241642 APPLIED AGAINST ACCOUNT 0 BOOK SCHOLARSHIP MIDDLE EAST 1 22100 APPLIED AGAINST ACCOUNT 0 BOOK SCHOLARSHIP NORTH AMERICA 2 57700 APPLIED AGAINST ACCOUNT 0 BOOK SCHOLARSHIP SOUTH AMERICA 1 26300 APPLIED AGAINST ACCOUNT 0 BOOK STUDENT STIPEND SUB-SAHARAN AFRICA 1 5720 CHECK 0 BOOK SCHOLARSHIP SUB-SAHARAN AFRICA 5 174102 APPLIED AGAINST ACCOUNT 0 BOOK 1 0 0 1 1 0 PART I, LINE 2: HILLSDALE COLLEGE OFFERS SCHOLARSHIPS AND GRANTS TO INTERNATIONAL STUDENTS (STUDENTS ATTENDING HILLSDALE UNDER F-1 STUDENT VISAS) BASED UPON EITHER ACADEMIC MERIT OR DEMONSTRATED FINANCIAL NEED. THE ASSESSMENT FOR AWARDING INITIAL MERIT-BASED SCHOLARSHIP CONSIDERS THE ACADEMIC CREDENTIAL OF THESE INTERNATIONAL STUDENTS. NEED-BASED GRANTS ARE AWARDED TO INTERNATIONAL STUDENTS BASED UPON DEMONSTRATED FINANCIAL NEED EVIDENCED FROM INCOME AND ASSET INFORMATION REPORTED ON HILLSDALE COLLEGE'S INTERNATIONAL FINANCIAL AID APPLICATION. RENEWAL OF MERIT-BASED INTERNATIONAL AWARDS ARE CONTINGENT UPON THE INTERNATIONAL STUDENT MAINTAINING A 3.0 OR HIGHER CUMULATIVE GRADE POINT AVERAGE. THIS GRADE POINT THRESHOLD IS MONITORED AT THE CONCLUSION OF EACH ACADEMIC SEMESTER. INTERNATIONAL STUDENTS NOT MEETING THAT GPA THRESHOLD FOR THE FIRST TIME RECEIVE A LETTER REMINDING THEM OF THIS CRITERION. A SECOND SEMESTER BELOW THE 3.0 GPA REQUIREMENT RESULTS IN SCHOLARSHIP PROBATION, AND A THIRD CONSECUTIVE SEMESTER NOT MEETING THIS 3.0 GPA RESULTS IN LOSS OF THE MERIT-BASED SCHOLARSHIP. RENEWAL OF A NEED-BASED GRANT REQUIRES THAT INTERNATIONAL STUDENTS CONTINUE TO EVIDENCE FINANCIAL NEED EACH YEAR AS DETERMINED BY SUBMISSION OF HILLSDALE'S INTERNATIONAL FINANCIAL AID APPLICATION. (2) HONORARIA AND TRAVEL REIMBURSEMENTS WERE PAID TO VARIOUS INTERNATIONAL SPEAKERS ON CAMPUS AS WELL AS HONORARIA PAID FOR EDITORIAL WORK. (3) TOUR FEES WERE PAID FOR SCHOOL-SPONSORED INTERNATIONAL TRIPS. (4) THE BOOK TOTAL AMOUNT OF INVESTMENTS IN CENTRAL AMERICA AND THE CAYMAN ISLANDS IS $77,052,981. 126490 11322 31148 15547 1 1.00000 126490 11322 31148 15547 58017 68473 MI 1 0 0 0 1.00000 0.00000 PATRICK H FLANNERY 33 EAST COLLEGE STREET HILLSDALE MI 49242 0 PATRICK H FLANNERY 0 SEE SCHEDULE G, PART IV, STATEMENT 1 X 0 SCHEDULE G, PART III, LINE 16, DESCRIPTION OF SERVICES PROVIDED: AS TREASURER OF THE COLLEGE, PATRICK H. FLANNERY WORKS WITH VARIOUS GROUPS ON CAMPUS IN SECURING A RAFFLE LICENSE FROM THE STATE OF MICHIGAN. THESE LICENSES ARE EFFECTIVE ONLY FOR THE DATE OF THE RAFFLE. FURTHER, THE TREASURER COMPLETES THE RAFFLE FINANCIAL STATEMENT AND SUBMITS IT TO THE STATE OF MICHIGAN FOLLOWING THE RAFFLE. 1 ATLANTA CLASSICAL ACADEMY 3260 NORTHSIDE DR ATLANTA GA 30305 454342063 GOVERNMENTAL UNIT 25000 EXCELLENCE IN TEACHING AWARD HC REAL ESTATE INC 33 E COLLEGE ST HILLSDALE MI 49242 832541397 501(C)(3) 300400 FOR EDUCATIONAL PURPOSES 2 0 SCHOLARSHIPS AND GRANTS 1420 26041216 0 N/A N/A PART I, LINE 2: DURING FISCAL YEAR 2019, HILLSDALE COLLEGE AWARDED MONETARY GRANTS/PRIZES TO ONE INSTITUTION BASED ON SPECIFIED CRITERIA. ONE GRANT IS THE HENRY SALVATORI PRIZE FOR EXCELLENCE IN TEACHING, WHICH HONORS ONE K-12 SCHOOL EACH YEAR FOR ITS OUTSTANDING EDUCATIONAL PROGRAM. ALL PUBLIC AND PRIVATE SCHOOLS WHOSE TEACHING REFLECTS THE BEST TRADITIONS OF WESTERN EDUCATION ARE WELCOME TO APPLY. THE WINNING SCHOOL IS REQUIRED TO PREPARE AN ANNUAL REPORT ON THE EXPENDITURE(S) OF THE PRIZE UNTIL SUCH FUNDS ARE ENTIRELY EXPENDED. ONE OTHER GRANT SUPPORTED ONE OF THE TWENTY CLASSICAL K-12 CHARTER SCHOOLS AFFILIATED WITH HILLSDALE'S BARNEY CHARTER SCHOOL INITIATIVE. THE INITIATIVE GUIDES FOUNDING GROUPS IN OBTAINING A CHARTER AND PROVIDES CURRICULAR SUPPORT AND TEACHER AND PRINCIPAL TRAINING. THIS GRANT SUPPORTED THE LAUNCH OF THE CHARTER SCHOOL. THE RECIPIENTS ARE REQUIRED TO PROVIDE HILLSDALE COLLEGE DOCUMENTATION ON THE USE OF THE FUNDS, AND HILLSDALE COLLEGE STAFF VISIT THE SCHOOLS EACH YEAR. X X X X X X 1 1 X X X X X 0 0 0 1 0 0 0 0 0 PATRICK H FLANNERY VP FOR FINANCE & TREASURER 156709 0 1000 0 0 0 16521 0 22836 0 197066 0 0 0 RICHARD P PEWE VP OF ADMIN. AFFAIRS & SECRETARY 208890 0 1000 0 0 0 21978 0 24719 0 256587 0 0 0 LARRY P ARNN PRESIDENT 479757 0 486741 0 24000 0 27500 0 66206 0 1084204 0 0 0 JOHN CERVINI VP FOR INST. ADVANCEMENT 359465 0 109700 0 0 0 27500 0 30320 0 526985 0 0 0 DAVID M WHALEN PROVOST 209448 0 1000 0 13900 0 21941 0 25166 0 271455 0 0 0 ROBERT NORTON VP & GENERAL COUNSEL 232816 0 16270 0 0 0 23986 0 25278 0 298350 0 0 0 ROBERT BLACKSTOCK PROFESSOR OF LAW 196319 0 7690 0 11589 0 20037 0 21437 0 257072 0 0 0 MATTHEW SCHLIENTZ VP FOR MARKETING 199227 0 1000 0 0 0 20713 0 23640 0 244580 0 0 0 MATTHEW SPALDING DN OF EDUC PROGRAMS KIRBY CENTER 256792 0 1000 0 0 0 26754 0 25286 0 309832 0 0 0 DOUGLAS JEFFREY VP FOR EXTERNAL AFFAIRS 197353 0 1000 0 0 0 20251 0 17024 0 235628 0 0 0 PART I, LINE 1A BY THE NATURE OF THE POSITION, THE CEO IS REQUIRED TO FULFILL SEVERAL OBLIGATIONS/COMMITMENTS WHICH MAY RESULT IN TRAVELLING FIRST-CLASS AND/OR CHARTER TO ACCOMMODATE REQUIRED APPOINTMENTS. FURTHER, HIS SPOUSE MAY ACCOMPANY HIM AS DICTATED BY HER REQUIRED PRESENCE FOR AN EVENT. THE CEO HAS AVAILABLE TO HIM A DISCRETIONARY FUND (BUDGETED EACH YEAR) FOR ASSISTING INDIVIDUALS AND/OR PROJECTS IN NEED OF SUPPORT. FURTHER, THE CEO IS REQUIRED TO RESIDE IN COLLEGE-OWNED HOUSING FOR THE PURPOSE OF BEING A PRESENCE ON CAMPUS AND FOR ENTERTAINMENT PURPOSES. AS THE RESULT OF LIVING IN A COLLEGE-OWNED RESIDENCE, THE COLLEGE PROVIDES, AS WITH ALL CAMPUS BUILDINGS, LIGHT HOUSEKEEPING. THE POSITION OF CEO ALSO REQUIRES MEMBERSHIP IN CERTAIN SOCIAL/ACADEMIC ORGANIZATIONS AND THEREFORE THE COLLEGE PROVIDES THE DUES/FEES ASSOCIATED WITH THAT MEMBERSHIP. FROM TIME TO TIME THE COLLEGE UTILIZES THE COLLEGE PRESIDENT'S PERSONAL RESIDENCE FOR COLLEGE EVENTS AND HOUSING OF COLLEGE GUESTS. PART I, LINE 3 THE PRUDENTIAL COMMITTEE (EXECUTIVE COMMITTEE) OF THE BOARD OF TRUSTEES APPROVES THE CEO'S ANNUAL SALARY. THE TREASURER'S OFFICE SECURES SALARY INFORMATION SUPPLIED BY THE CHRONICLE OF HIGHER EDUCATION, IRS FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION CONSULTANTS, AND WRITTEN CONTRACT. THIS INFORMATION IS THEN PROVIDED TO THE PRUDENTIAL COMMITTEE FOR THEIR REVIEW AND EVALUATION. PART I, LINE 5 DEPENDING ON THE LEVELS OF GIFT REVENUE, BONUSES WERE PAID. A MICHIGAN FINANCE AUTHORITY 800596186 NONEAVAIL 2014-09-19 10900000 REFUNDING BONDS 0 0 0 A 10900000 10900000 2014 1 1 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 1 0 0 0 0 0 A 0 THOMAS DUKE TRUSTEE 42000 THOMAS DUKE IS 50% OWNER OF WEST STREET LIVING, LLC. PAYMENTS FOR CONSTRUCTION OF TOWNHOUSES NEAR CAMPUS 0 CLEVES DELP TRUSTEE 129375 INVESTMENT ADVISORY SERVICES FEES 0 X 3 167000 APPRAISAL X 285 26795607 HIGH/LOW FMV AVG X 2 38010 APPRAISAL 0 1 1 PART I, COLUMN (B): THE NUMBER LISTED IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS RECEIVED PART I, LINE 32B: INVESTMENT MANAGERS ASSIST IN THE SELLING OF STOCKS. PART I, LINE 33: DONATED ITEMS OF BOOKS, HOUSEHOLD ITEMS, COLLECTIBLES, AND VARIOUS MISCELLANY WHICH DO NOT HAVE AN APPRAISED VALUE ARE RECORDED AS ZERO GIFT REVENUE. THE DONORS GENERALLY DO NOT REQUEST A TAX-DEDUCTIBLE GIFT RECEIPT OR RECEIVE IN-KIND RECEIPT WITH NO VALUE LISTED. FORM 990, PART III, LINE 1 HILLSDALE COLLEGE IS AN INDEPENDENT INSTITUTION OF HIGHER LEARNING FOUNDED IN 1844 BY MEN AND WOMEN "GRATEFUL TO GOD FOR THE INESTIMABLE BLESSINGS" RESULTING FROM CIVIL AND RELIGIOUS LIBERTY AND "BELIEVING THAT THE DIFFUSION OF LEARNING IS ESSENTIAL TO THE PERPETUITY OF THESE BLESSINGS." IT PURSUES THE STATED OBJECT OF THE FOUNDERS: "TO FURNISH ALL PERSONS WHO WISH, IRRESPECTIVE OF NATION, COLOR, OR SEX, A LITERARY SCIENTIFIC, [AND] THEOLOGICAL EDUCATION" OUTSTANDING AMONG AMERICAN COLLEGES AND TO COMBINE WITH THIS SUCH MORAL AND SOCIAL INSTRUCTION AS WILL BEST DEVELOP THE MINDS AND IMPROVE THE HEARTS OF ITS PUPILS." AS A NONSECTARIAN CHRISTIAN INSTITUTION, HILLSDALE COLLEGE MAINTAINS "BY PRECEPT AND EXAMPLE" THE IMMEMORIAL TEACHINGS AND PRACTICES OF THE CHRISTIAN FAITH. THE COLLEGE ALSO CONSIDERS ITSELF A TRUSTEE OF OUR WESTERN PHILOSOPHICAL AND THEOLOGICAL INHERITANCE TRACING TO ATHENS AND JERUSALEM, A HERITAGE FINDING ITS CLEAREST EXPRESSION IN THE AMERICAN EXPERIMENT OF SELF-GOVERNMENT UNDER LAW. BY TRAINING THE YOUNG IN THE LIBERAL ARTS, HILLSDALE COLLEGE PREPARES STUDENTS TO BECOME LEADERS WORTHY OF THAT LEGACY. BY ENCOURAGING THE SCHOLARSHIP OF ITS FACULTY, IT CONTRIBUTES TO THE PRESERVATION OF THAT LEGACY FOR FUTURE GENERATIONS. BY PUBLICLY DEFENDING THAT LEGACY, IT ENLISTS THE AID OF OTHER FRIENDS OF FREE CIVILIZATION AND THUS SECURES THE CONDITIONS OF ITS OWN SURVIVAL AND INDEPENDENCE. FORM 990, PART VI, SECTION A, LINE 2 CHARLES MCINTYRE, TRUSTEE, IS FATHER-IN-LAW OF JOHN CERVINI, KEY EMPLOYEE. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF TRUSTEES OF THE COLLEGE VOTED TO NOT REVIEW THE 990. THE VICE PRESIDENT FOR FINANCIAL AFFAIRS/TREASURER, AS WELL AS THE CONTROLLER, REVIEW THE 990 FOR THE COLLEGE PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C ALL VOTING MEMBERS OF THE BOARD COMPLETE A CONFLICT OF INTEREST POLICY FORM. EACH YEAR, THEY UPDATE THE FORM IF THERE ARE CHANGES. THOSE FORMS ARE KEPT BY THE SECRETARY OF THE BOARD. IF A CONFLICT IS DETERMINED, IT WILL BE BROUGHT TO THE ATTENTION OF THE PRUDENTIAL COMMITTEE OF THE BOARD OF TRUSTEES. BOARD MEMBERS WHO HAVE A CONFLICT OF INTEREST WILL LEAVE THE ROOM DURING DISCUSSION OF THE MATTER AND ABSTAIN FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE COLLEGE'S PRESIDENT IS DETERMINED BY THE PRUDENTIAL COMMITTEE OF THE BOARD OF TRUSTEES ALONG WITH RECOMMENDATION BY EXTERNAL CONSULTANTS AND 990 RESULTS LISTED IN THE CHRONICLE OF HIGHER EDUCATION. THE COMPENSATION OF THE OTHER OFFICERS OF THE COLLEGE AS WELL AS KEY EMPLOYEES ARE RECOMMENDED BY THIRD PARTY CONSULTANTS. THIS PROCESS WAS LAST COMPLETED IN FISCAL YEAR 2019. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G PROFESSIONAL SERVICES, GENERAL : PROGRAM SERVICE EXPENSES 1,639,982. MANAGEMENT AND GENERAL EXPENSES 1,162,758. FUNDRAISING EXPENSES 13,846,337. TOTAL EXPENSES 16,649,077. PROFESSIONAL SERVICES, CONSULTING: PROGRAM SERVICE EXPENSES 115,773. MANAGEMENT AND GENERAL EXPENSES 502,260. FUNDRAISING EXPENSES 72,900. TOTAL EXPENSES 690,933. PROFESSIONAL SERVICES, HONORARIUMS: PROGRAM SERVICE EXPENSES 592,814. MANAGEMENT AND GENERAL EXPENSES 103,581. FUNDRAISING EXPENSES 29,037. TOTAL EXPENSES 725,432. OTHER MISC PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 1,509. MANAGEMENT AND GENERAL EXPENSES 14,228. FUNDRAISING EXPENSES 6,601. TOTAL EXPENSES 22,338. FORM 990, PART XI, LINE 9: CHANGE IN SPLIT INTEREST AGREEMENTS -2,305,924. FORM 990, PART XII, LINE 2C: THERE HAVE BEEN NO CHANGES FROM PRIOR YEAR. SAGINAW RIVER HOLDINGS 201 W BIG BEAVER STE 500 TROY MI 48084 801677917 REAL ESTATE HOLDING MI 0 13 HILLSDALE COLLEGE HILLSDALE COLLEGE INDEPENDENCE FOUNDATION 33 EAST COLLEGE STREET HILLSDALE MI 49242 383491675 SUPPORTING ORGANIZATION TO HILLSDALE COLLEGE MI 501(C)(3) LINE 12A, I HILLSDALE COLLEGE 1 LEE STILLMAN-ROLAND R WITTE SCHOLARSHIP FOUNDATION 33 EAST COLLEGE STREET HILLSDALE MI 49242 320538150 SUPPORTING ORGANIZATION TO HILLSDALE COLLEGE MI 501(C)(3) LINE 12A, I HILLSDALE COLLEGE 1 THE JACK E & GRETA W STALSBY CHARITABLE FOUNDATION TRUST 33 EAST COLLEGE STREET HILLSDALE MI 49242 943458983 PROVIDE SCHOLARSHIPS TO SUPPORT HILLSDALE COLLEGE MI 501(C)(3) PF HILLSDALE COLLEGE INDEPENDENCE FOUNDATION 0 DOROTHY D AND JOSEPH A MOLLER FOUNDATION 33 EAST COLLEGE STREET HILLSDALE MI 49242 746355685 PROVIDE SCHOLARSHIPS TO SUPPORT HILLSDALE COLLEGE MI 501(C)(3) PF HILLSDALE COLLEGE INDEPENDENCE FOUNDATION 0 HC REAL ESTATE HOLDING INC 33 EAST COLLEGE STREET HILLSDALE MI 49242 832541397 SUPPORTING ORGANIZATION OF HILLSDALE COLLEGE MI 501(C)(3) LINE 12A, I HILLSDALE COLLEGE 1 842 2ND AVENUE LLC 33 EAST COLLEGE STREET HILLSDALE MI 49242 113537380 REAL ESTATE INVESTMENT NY HILLSDALE COLLEGE 94237 0 1 1.00000 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 LEE STILLMAN-ROLAND R WITTE SCHOLARSHIP FOUNDATION C 1200000 CASH HC REAL ESTATE HOLDING INC B 300400 CASH