2020-05-14T14:51:52-05:00 2019-06-30 382157642 MANER COSTERISAN PC 2425 E GRAND RIVER SUITE 1 LANSING MI 489123291 990 2018-07-01 381459365 OLIVET COLLEGE OLIV 8004567189 320 SOUTH MAIN STREET OLIVET MI 49076 MARK DERUITER INTERIM CFO 8004567189 2020-05-14 1 MARK L LOCKWITZ CPA P00948433 5173237500 2020-05-15 216.163.63.50 2020-05-14 14:19:39 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 65BB7716B73E6F83F0A797AD7116E15789692848 2018 2021-01-29 14:40:06Z MARK DERUITER 320 SOUTH MAIN STREET OLIVET MI 49076 38531097 0 X WWW.OLIVETCOLLEGE.EDU X 1920 MI TO PROVIDE A LIBERAL ARTS EDUCATION. 26 26 689 26 21500 0 3503565 1584197 34530579 33420353 1549540 587702 -17357 71669 39566327 35663921 14054797 14311508 0 0 11928988 12711471 0 0 1491519 11093090 11638543 37076875 38661522 2489452 -2997601 61002165 60466366 14331575 16402245 46670590 44064121 X TO PROVIDE A UNIQUE LIBERAL ARTS EDUCATION ALLOWING STUDENTS TO ENGAGE IN BOTH CURRICULAR AND CO-CURRICULAR PROGRAMS THAT COMBINE REAL WORLD EXPERIENCES WITH LECTURES AND SERVICE LEARNING. 0 0 14311508 14311508 FINANCIAL AID IN VARIOUS FORMS TO ASSIST INDIVIDUALS IN FINANCING THEIR UNDERGRADUATE EDUCATION. 1,048 STUDENTS BENEFITTED. 9451289 6353717 AUXILIARY - ROOM, BOARD, ATHLETICS AND BOOKSTORE FOR STUDENTS OBTAINING THEIR UNDERGRADUATE EDUCATION. 7796857 26279300 INSTRUCTION AND RELATED SUPPORT - PROVIDING A LIBERAL ARTS UNDERGRADUATE EDUCATION. 1,048 STUDENTS ENROLLED FALL 2018. 2642388 787336 STUDENT SERVICES - ASSISTS STUDENTS AND PARENTS IN NAVIGATING THE WORLD OF COLLEGE FINANCES AND COURSEWORK. STUDENTS CAN REQUEST A TRANSCRIPT, MAKE A PAYMENT, RECEIVE FINANCIAL AID, BE ASSIGNED A WORK-STUDY JOB AND RECEIVE HELP WITH REGISTERING FOR CLASSES. 2642388 787336 34202042 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 34 0 1 689 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 MI X MARK DERUITER 8004567189 320 SOUTH MAIN STREET OLIVET MI 49076 X CHUCK MEFFORD TRUSTEE 2.00 X 0 0 0 PAUL KENNEDY TRUSTEE 2.00 X 0 0 0 DR CRAIG BAILEY TRUSTEE 2.00 X 0 0 0 DR JOHN SCHWARZ TRUSTEE 2.00 X 0 0 0 KELLY ROSSMAN-MCKINNEY TRUSTEE 2.00 X 0 0 0 JASON CONKIN TRUSTEE 2.00 X 0 0 0 DAVID LABRECQUE TRUSTEE 2.00 X 0 0 0 AJ JONES TRUSTEE 2.00 X 0 0 0 THOMAS BRENNAN JR TRUSTEE 2.50 X 0 0 0 G ASENATH ANDREWS TRUSTEE 0.50 X 0 0 0 JAMEY FITZPATRICK TRUSTEE 2.00 X 0 0 0 ROD HATHAWAY TRUSTEE 2.00 X 0 0 0 DR SHARON HOBBS TRUSTEE 0.50 X 0 0 0 YVONNE CAAMAL-CANUL TRUSTEE 2.00 X 0 0 0 MIKE DIETERLE TRUSTEE 2.00 X 0 0 0 DR MELANIE ENGELS TRUSTEE 0.50 X 0 0 0 DENISE P HOOD TRUSTEE 2.00 X 0 0 0 THOMAS BURKE TRUSTEE 2.00 X 0 0 0 DAVID HATHAWAY TRUSTEE 2.00 X 0 0 0 WILLIAM MIDDLEBROOKS TRUSTEE 2.00 X 0 0 0 DR JUSTIN KLAMERUS TRUSTEE 2.00 X 0 0 0 DR MARGARET DIMOND SECRETARY 2.00 X X 0 0 0 JESSE LOTHAMER ASSISTANT TREASURER 2.00 X X 0 0 0 THOMAS E KOLASSA CHAIR 2.50 X X 0 0 0 DR TIMOTHY HODGE VICE CHAIR 2.50 X X 0 0 0 JEFF WILDERN TREASURER 3.00 X X 0 0 0 DR STEVEN M COREY PRESIDENT 40.00 X 247204 0 27151 MARTIN J HANIFIN CFO (UNTIL EARLY 2019) 40.00 X 133371 0 11272 MARIA DAVIS VP & ACADEMIC DEAN 40.00 X 128625 0 5525 WILLIAM S HULL VP FOR INSTITUTIONAL ADVAN 40.00 X 130289 0 10870 639489 0 54818 4 0 1 0 CHARTWELL'S 450 S MAIN STREET OLIVET MI 49076 FOOD SERVICES 2495422 STEVENS ASSOCIATES BUILDERS INC PO BOX 127 GRAND LEDGE MI 48837 CONSTRUCTION MGT 1029714 PRINT-TECH INC 6800 JACKSON ROAD ANN ARBOR MI 48103 PRINTING SOLUTIONS 185249 CDW GOVERNMENT INC 75 REMITTANCE DRIVE STE 1515 CHICAGO IL 60675 SOFTWARE SOLUTIONS 144637 DEAN CHARTER & TOURS INC 4726 AURELIUS RD LANSING MI 48910 TRANSPORTATION 127839 6 15359 1568838 1584197 TUITION AND FEES 611600 26279300 26279300 AUXILIARY REVENUE 900099 6353717 6353717 ACTIVITIES REVENUE 900099 787336 787336 33420353 83579 83579 2973743 2469620 504123 504123 504123 37456 15359 33176 4280 4280 410269 364380 45889 45889 HOSPITALITY 900099 21500 21500 21500 35663921 33420353 21500 637871 14311508 14311508 464713 375832 55162 33719 10118719 8199582 1191721 727416 449868 393564 34752 21552 969121 766592 125006 77523 709050 560859 91467 56724 81339 81339 73308 73308 117910 117910 3481033 2937592 385889 157552 26160 15634 7509 3017 1640889 1118878 336987 185024 678623 578501 90986 9136 998459 952959 41836 3664 830526 703882 35116 91528 108681 78286 15539 14856 374432 361327 10858 2247 1900113 1833609 55103 11401 248642 77381 171261 MAINTENANCE EXPENSE 447776 440903 5074 1799 FOOD SERVICE 391056 321929 40988 28139 ACTIVITIES EXPENSE 159898 159898 SPECIAL EVENTS 79698 13326 150 66222 38661522 34202042 2967961 1491519 390419 297409 6018392 4659635 1062533 1129455 1870898 1794179 443652 403533 89653 37320 62482744 30939708 30418821 31543036 17406651 17474883 3301146 3126916 61002165 60466366 1326715 1273128 10094405 11902698 2910455 3226419 14331575 16402245 X 19705573 18301444 11672705 10163351 15292312 15599326 46670590 44064121 61002165 60466366 X -2997601 249134 141998 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 18238641 117231 862772 788636 18430008 17290291 182801 1395842 543164 -52211 139340 18238641 14351208 1068328 2240754 312032 -62933 120900 17290291 14839737 498688 -452625 479822 -64683 119453 14351208 14443878 212956 576661 339757 -64037 118038 14839737 0.10450 0.71250 0.18300 0 0 508615 508615 39228915 15665873 23563042 10987474 8499919 2487555 11757740 6773916 4983824 31543036 SPLIT INTEREST AGREEMENTS 3126916 F 3126916 STUDENT DEPOSITS 850231 DUE TO GOVERNMENT UPON COLLECTION OF STUDENT LOANS 1382008 LIABILITES UNDER SPLIT INTEREST AGREEMENT 939502 LIABILITES UNDER GIFT ANNUITIES 54678 3226419 X 20712759 249134 397556 646690 20066069 15597852 15597852 35663921 24747570 397556 397556 24350014 14311508 14311508 38661522 PART V, LINE 4: THE INTENT OF THE COLLEGE IS TO USE THE INCOME AND A PORTION OF THE APPRECIATION OF THE ENDOWMENT FUNDS TO SUPPORT THE PROGRAMS OF THE COLLEGE. DONORS HAVE RESTRICTED MUCH OF THE ENDOWMENT TO SUPPORT SPECIFIC PROGRAMS, AND THE COLLEGE HONORS SUCH RESTRICTIONS. THE LARGEST RESTRICTED FUNDS ARE FOR SCHOLARSHIPS. PART X, LINE 2: IN PREPARATION OF TAX RETURNS, TAX POSITIONS ARE TAKEN BASED ON INTERPRETATION OF FEDERAL, STATE AND LOCAL INCOME TAX LAWS. MANAGEMENT PERIODICALLY REVIEWS AND EVALUATES THE STATUS OF UNCERTAIN TAX POSITIONS AND MAKES ESTIMATES OF AMOUNTS, INCLUDING INTEREST AND PENALTIES, ULTIMATELY DUE OR OWED. NO AMOUNTS HAVE BEEN IDENTIFIED, OR RECORDED, AS UNCERTAIN POSITIONS. FEDERAL, STATE AND LOCAL TAX RETURNS GENERALLY REMAIN OPEN FOR EXAMINATION BY THE VARIOUS TAXING AUTHORITIES FOR A PERIOD OF THREE TO FOUR YEARS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES OF BOOKSTORE 364,380. SPECIAL EVENTS 33,176. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND OTHER STUDENT FINANCIAL AID 14,311,508. LEADERSHIP CAMPAIGN 415,856. ENDOWMENT APPRECIATION 753,257. NON OPERATING CONTRIBUTIONS 117,231. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES OF BOOKSTORE 364,380. SPECIAL EVENTS 33,176. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND OTHER STUDENT FINANCIAL AID 14,311,508. PART V THE ENDOWMENT INCLUDES $3,126,916 OF SPLIT-INTEREST AGREEMENTS THAT OLIVET COLLEGE DOES NOT RECEIVE A CURRENT RETURN ON. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE OLIVET COLLEGE MISSION STATEMENT INCLUDES A NON-DISCRIMINATORY POLICY. THIS MISSION STATEMENT IS SENT TO ALL PROSPECTIVE/CURRENT STUDENTS AND IS READILY AVAILABLE THROUGH THE ADMISSIONS PROCESS. GOLF OUTING 24440 12039 12401 12401 LEADERSHIP DINNER 28375 3320 25055 14501 6274 52815 15359 37456 14501 18675 33176 4280 1 FINANCIAL AID AND SCHOLARSHIPS 1048 14311508 PART I, LINE 2: FINANCIAL AID AND SCHOLARSHIPS FOR OLIVET COLLEGE STUDENTS ENROLLED AND ATTENDING CLASSES. ALL RECORDS ARE RETAINED BY THE COLLEGE. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 DR STEVEN M COREY PRESIDENT 247204 0 0 0 0 0 9530 0 17621 0 274355 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS RECEIVED BY THE CFO FROM THE THIRD PARTY PREPARER AND IT IS REVIEWED AND DISCUSSED WITH THE PRESIDENT. A COPY OF THE 990 IS MADE AVAILABLE BY E-MAIL TO THE RESOURCE COMMITTEE WITH AN OPPORTUNITY FOR COMMENTS OR QUESTIONS. THE BOARD OF TRUSTEES HAS DELEGATED AUTHORITY AND RESPONSIBILITY FOR APPROVING THE 990 TO THE FINANCE COMMITTEE OF THE BOARD. THE 990 IS REVIEWED BY THE FINANCE COMMITTEE AND IS DISCUSSED AT A FINANCE COMMITTEE MEETING. AFTER REVIEW AND APPROVAL BY THE FINANCE COMMITTEE, THE 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, IN OCTOBER, EACH TRUSTEE IS REQUIRED TO COMPLETE FORMS DISCLOSING ANY CONFLICT OR POTENTIAL CONFLICT. THE FORMS ARE REVIEWED BY THE ASSISTANT TO THE PRESIDENT. ANY DISCLOSED CONFLICT OR POTENTIAL CONFLICT IS THEN REPORTED TO THE PRESIDENT AND THE CHAIR OF THE BOARD OF TRUSTEES. THE POLICY ALSO REQUIRES TRUSTEES TO DISCLOSE CONFLICTS OR POTENTIAL CONFLICTS AT THE EARLIEST PRACTICAL TIME. FORM 990, PART VI, SECTION B, LINE 15 THE HUMAN RESOURCE DEPARTMENT DOES BENCHMARKING STUDIES OF ALL POSITIONS USING INDUSTRY DATA OF SIMILAR SIZED INSTITUTIONS. THESE BENCHMARKS ARE USED ALONG WITH EMPLOYEE EVALUATIONS TO DETERMINE COMPENSATION OF ALL STAFF INCLUDING OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 ALL INFORMATION IS AVAILABLE UPON REQUEST. FORM 990 IS ALSO POSTED ANNUALLY ON GUIDESTAR'S WEBSITE. THE 990 IS PUBLIC INFORMATION THROUGH THE MICHIGAN ATTORNEY GENERAL'S OFFICE. FORM 990, PART VII COMPENSATION REPORTED ON PART VII OF THE 990 IS BASED ON CALENDAR YEAR COMPENSATION USING A CASH METHOD OF REPORTING AS REQUIRED BY THE IRS INSTRUCTIONS FOR FORM 990, PART VII. COMPENSATION REPORTED ON THE FUNCTIONAL ALLOCATION SCHEDULE ON PART IX IS REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING FOR THE FISCAL YEAR AND INCLUDES ALL FORMS OF COMPENSATION TO OFFICERS, DIRECTORS, TRUSTEES AND KEY EMPLOYEES AS REQUIRED BY THE IRS INSTRUCTIONS FOR FORM 990. FORM 990, PART XI, LINE 9: CHANGE IN VALUATION OF SPLIT-INTEREST AGREEMENTS 141,998. RED AND WHITE HOSPITALITY LLC 320 SOUTH MAIN STREET OLIVET MI 49076 831827104 HOSPITALITY MI 21500 2150 OLIVET COLLEGE