2019-05-14T14:01:37-05:00 2018-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2017-07-01 381367080 AQUINAS COLLEGE AQUI 6166328900 1700 FULTON STREET EAST GRAND RAPIDS MI 495061801 LISA VANDEWEERT CFO 6166322885 2019-05-13 1 CAROL A LALONDE CPA P00181637 2695674500 2019-05-10 67.59.56.31 2019-05-13 12:32:03 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 58F74DC53CB874483B207ADF23CD6921384352E9 2017 2019-02-21 02:37:17Z LISA VANDEWEERT 1700 FULTON STREET EAST GRAND RAPIDS MI 495061801 76589469 0 X WWW.AQUINAS.EDU X 1892 MI EDUCATION 12 12 1233 12 154593 100914 15361700 10526952 51743037 51373420 1925448 2160603 538005 862670 69568190 64923645 24453403 25432300 0 0 19392138 19166714 75000 0 1281197 14645173 16840530 58565714 61439544 11002476 3484101 120785116 125363978 30122652 28632424 90662464 96731554 X AQUINAS COLLEGE, AN INCLUSIVE EDUCATIONAL COMMUNITY ROOTED IN THE CATHOLIC DOMINICAN TRADITION, PROVIDES A LIBERAL ARTS EDUCATION WITH A GLOBAL PERSPECTIVE, EMPHASIZES CAREER PREPARATION FOCUSED ON LEADERSHIP AND SERVICE TO OTHERS, AND FOSTERS A COMMITMENT TO LIFELONG LEARNING DEDICATED TO THE PURSUIT OF TRUTH AND THE COMMON GOOD. 0 0 47925614 25432300 51373420 AQUINAS COLLEGE SERVES 1,551 UNDERGRADUATE AND 165 GRADUATE STUDENTS. THE COLLEGE STRIVES TO PROVIDE A LIBERAL ARTS EDUCATION WITH A GLOBAL PERSPECTIVE, EMPHASIZING CAREER PREPARATION FOCUSED ON LEADERSHIP AND SERVICE TO OTHERS, ROOTED IN THE CATHOLIC DOMINICAN TRADITION. 47925614 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 1 0 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 2289 0 1 1233 1 1 1 1 EI 0 0 0 1 1 0 0 0 0 X 12 12 0 0 0 0 0 1 1 1 1 0 0 0 1 1 1 0 0 1 1 0 X LISA VANDEWEERT 6166322885 1700 FULTON STREET EAST GRAND RAPIDS MI 495061801 MATT WEY CHAIR 0.60 0.00 X 0 0 0 MARCIE M HILLARY VICE CHAIR 0.60 0.00 X 0 0 0 KIMBERLY HANRAHAN TREASURER 0.60 0.00 X 0 0 0 JAMES RABAUT SECRETARY 0.60 0.00 X 0 0 0 DENNIS ECHELBARGER TRUSTEE 0.60 0.00 X 0 0 0 SR MAUREEN GEARY OP TRUSTEE 0.60 0.00 X 0 0 0 RICK HEUVELMAN TRUSTEE 0.60 0.00 X 0 0 0 JEFF MADDOX TRUSTEE 0.60 0.00 X 0 0 0 BILL H MANNS TRUSTEE 0.60 0.00 X 0 0 0 SR BARBARA REID OP TRUSTEE 0.60 0.00 X 0 0 0 THOMAS G WELCH JR TRUSTEE 0.60 0.00 X 0 0 0 ROBERT C WOODHOUSE JR TRUSTEE 0.60 0.00 X 0 0 0 KEVIN QUINN PRESIDENT 40.00 0.00 X 105842 0 10320 LISA VANDEWEERT VP FOR FINANCE/CFO 40.00 0.00 X 0 0 0 STELLA SOROVIGAS INTERIM VP FOR FINANCE - PART YEAR 40.00 0.00 X 95588 0 8769 STEPHEN BARROWS PROVOST 40.00 0.00 X 113850 0 19027 JUAN OLIVAREZ FORMER PRESIDENT 40.00 0.00 X 181700 0 20102 496980 0 58218 3 1 1 0 PIONEER GENERAL CONTRACTORS 550 KIRTLAND ST SW GRAND RAPIDS MI 49507 CONSTRUCTION SERVICES 6191913 CREATIVE DINING SERVICES ONE ROYAL PART DRIVE ZEELAND MI 49464 DINING SERVICES 1731729 TOWER PINKSTER TITUS ASSOCIATES INC 242 E KALAMAZOO AVE KALAMAZOO MI 49007 ARCHITECT SERVICES 1161592 ERHARDT CONSTRUCTION COMPANY 6060 FULTON ST E ADA MI 49301 CONSTRUCTION SERVICES 1065458 RUFFALO NOEL LEVITZ 1025 KIRKWOOD PARKWAY SW CEDAR RAPIDS IA 52404 RECRUITING & DEVELOPMENT SERVICE 430219 17 172500 3281286 7073166 485927 10526952 TUITION AND FEES 611310 44845178 44845178 AUXILIARY SERVICES 611710 6528242 6528242 51373420 1187836 1187836 141656 0 141656 141656 36582 105074 12530387 11557620 972767 972767 972767 17445 172500 108204 -90759 -90759 OTHER REVENUE 900099 811773 118011 693762 811773 64923645 51373420 154593 2868680 24739429 24739429 692871 692871 378982 378982 14561528 11012657 2987586 561285 312946 237732 63573 11641 2910356 1577253 1289590 43513 1002902 743626 216112 43164 73931 73931 48700 48700 220729 220729 2247004 2089180 60813 97011 581995 380411 178804 22780 409273 210190 135354 63729 1427675 86523 1280031 61121 1436135 258833 1177302 715732 676889 28915 9928 979881 979881 2611365 2611365 295378 295378 ATHLETICS 3415075 3415075 SPECIAL EVENTS 423948 236476 117756 69716 LIBRARY 366057 397755 -31698 STUDENT ORGS 233205 233205 1354447 937509 119629 297309 61439544 47925614 12232733 1281197 6506498 3350065 12419949 9422786 11197081 11287656 408878 361863 108256365 49662643 50092634 58593722 39987785 42206527 172291 141359 120785116 125363978 4543301 5687663 285675 223485 17763536 17166052 5132828 3994774 2397312 1560450 30122652 28632424 X 28344905 36961239 34199230 28473352 28118329 31296963 90662464 96731554 120785116 125363978 X 3484101 1249471 1335518 X X 0 1 X 1 1 1 X 10080343 8750843 13557582 15361700 10526952 58277420 10080343 8750843 13557582 15361700 10526952 58277420 12340998 45936422 954974 1089359 1182428 1132660 1300874 5660295 44935 84339 92777 222051 512650 780778 699598 513107 736441 3242574 67402340 262222890 0.68150 0.67820 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING EVENT REVENUE - 2013 AMOUNT: $ 51,764. 2014 AMOUNT: $ 42,626. 2015 AMOUNT: $ 17,826. 2016 AMOUNT: $ 35,366. 2017 AMOUNT: $ 17,445. MISCELLANEOUS REVENUE - 2013 AMOUNT: $ 460,886. 2014 AMOUNT: $ 738,152. 2015 AMOUNT: $ 681,772. 2016 AMOUNT: $ 477,741. 2017 AMOUNT: $ 718,996. 35224095 2878052 2495672 1639358 38958461 31025646 918214 3614855 334620 35224095 31429118 358088 -69601 691959 31025646 28467287 3580752 427114 1046035 31429118 23046367 3323555 3156924 1059559 28467287 0.05410 0.80330 0.14260 1 0 2483678 2483678 58908162 24621437 34286725 19220306 9470668 9749638 11765715 9890853 1874862 15878504 5679685 10198819 58593722 ACCRUED INTEREST 65668 OBLIGATIONS UNDER SPLIT INTEREST AGREEMENT 21226 STUDENT AND OTHER DEPOSITS 554053 REFUNDABLE PERKINS LOAN ADVANCES 71825 FUNDS HELD IN TRUST FOR OTHERS 8613 DERIVATIVE LIABILITY 754050 CAPITALIZED LEASE OBLIGATIONS 85015 1560450 41963809 1249471 1335518 2584989 39378820 220729 25324096 25544825 64923645 35894719 108204 108204 35786515 220729 25432300 25653029 61439544 PART V, LINE 4: TO FURTHER THE MISSION OF THE COLLEGE. PART XI, LINE 2D - OTHER ADJUSTMENTS: DECREASE IN CASH VALUE OF LIFE INSURANCE -30,393. CHANGE IN INTEREST RATE SWAP 693,324. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 672,587. PART XI, LINE 4B - OTHER ADJUSTMENTS: TUITION DISCOUNT 25,432,300. FUNDRAISING EXPENSE -108,204. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 108,204. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION DISCOUNT 25,432,300. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 MISSION, PROCLAMATION ON DIVERSITY PUBLISHED IN THE CATALOG, RECRUITMENT MATERIALS, ADMISSIONS MATERIALS AND WEBSITE. SCHEDULE E, PART I, LINE 6 AQUINAS COLLEGE PROVIDES STUDENTS WITH APPLICABLE FEDERAL TITLE IV STUDENT ASSISTANCE PROGRAMS AND THAT OF MICHIGAN GRANTS AND SCHOLARSHIPS. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDY ABROAD 113097 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY ABROAD 285958 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 15971 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS N/A 2395832 CENTRAL AMERICA AND THE CARIBBEAN 0 0 SCHOLARSHIPS N/A 31000 EAST ASIA AND THE PACIFIC 0 0 SCHOLARSHIPS N/A 130203 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 SCHOLARSHIPS N/A 268214 MIDDLE EAST AND NORTH AFRICA 0 0 SCHOLARSHIPS N/A 5000 NORTH AMERICA 0 0 SCHOLARSHIPS N/A 90247 RUSSIA AND NEIGHBORING STATES 0 0 SCHOLARSHIPS N/A 55747 SOUTH AMERICA 0 0 SCHOLARSHIPS N/A 82688 SUB-SAHARAN AFRICA 0 0 SCHOLARSHIPS N/A 29772 0 0 0 0 0 0 3245275 258454 3503729 SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN 2 31000 APPLIED AGAINST STUDENT'S TUITION ACCOUNT SCHOLARSHIPS EAST ASIA AND THE PACIFIC 8 130203 APPLIED AGAINST STUDENT'S TUITION ACCOUNT SCHOLARSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) 13 268214 APPLIED AGAINST STUDENT'S TUITION ACCOUNT SCHOLARSHIPS MIDDLE EAST AND NORTH AFRICA 1 5000 APPLIED AGAINST STUDENT'S TUITION ACCOUNT SCHOLARSHIPS NORTH AMERICA 5 90247 APPLIED AGAINST STUDENT'S TUITION ACCOUNT SCHOLARSHIPS RUSSIA AND NEIGHBORING STATES 2 55747 APPLIED AGAINST STUDENT'S TUITION ACCOUNT SCHOLARSHIPS SOUTH AMERICA 4 82688 APPLIED AGAINST STUDENT'S TUITION ACCOUNT SCHOLARSHIPS SUB-SAHARAN AFRICA 2 29772 APPLIED AGAINST STUDENT'S TUITION ACCOUNT 0 0 0 1 0 1 PART I, LINE 2: ALL ACTIVITY, INCLUDING CORRESPONDENCE, IS MAINTAINED AND SUMMARIZED EMERITUS EVENING 108005 99275 8730 24792 11873 WEGE PROAM GOLF OUTING 48240 42645 5595 15400 4811 17410 1 33700 30580 3120 6209 1500 26209 189945 172500 17445 15400 35812 1500 55492 108204 -90759 1 SCHOLARSHIPS 1794 24739429 PART I, LINE 2: STUDENTS RECEIVE SCHOLARSHIPS AS CREDITS AGAINST TUITION. THESE SCHOLARSHIPS CAN BE BASED ON NEED, ACADEMIC PERFORMANCE, AND/OR ATHLETICS. X X 1 1 X 0 0 0 0 0 0 0 0 0 JUAN OLIVAREZ FORMER PRESIDENT 181700 0 0 0 0 0 6264 0 13838 0 201802 0 0 0 PART I, LINE 1A THE PRESIDENT RECEIVES TRAVEL BENEFITS FOR SPOUSE. THE PRESIDENT ALSO RECEIVES A HOUSING ALLOWANCE, AS REQUIRED BY THE BOARD. THESE BENEFITS ARE TREATED AS NON-TAXABLE COMPENSATION. A MICHIGAN FINANCE AUTHORITY LIMITED OBLIGATION HIGHER EDUCATION FACILITIES 800596186 NONEAVAIL 2014-12-03 19395000 DEBT REFINANCING AND CAPITAL IMPROVEMENTS/ADDITIONS 0 0 0 A 19395000 14735000 4585000 2024 2015 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 A 0 1 0 0 1 1 HNB 180.000000000000 0 0 0 0 0 A 0 X 2 212654 FAIR MARKET VALUE X 10 249246 FAIR MARKET VALUE X HOSPITAL BEDS 1 24027 FAIR MARKET VALUE 0 0 0 PART I, COLUMN (B): THE NUMBER LISTED IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS RECEIVED. FORM 990, PART VI, SECTION A, LINE 7A TWO OF THE MEMBERS OF THE BOARD OF TRUSTEES SHALL BE APPOINTED BY THE PRIORESS OF THE SISTERS OF THE ORDER OF ST. DOMINIC OF OUR LADY OF THE SACRED HEART (THE "DOMINICAN SISTERS"). THE PRIORESS MAY, BUT NEED NOT, APPOINT HERSELF AS ONE OF HER TWO APPOINTEES. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN POWERS RELATING TO THE CONTROL AND OPERATION OF THE CORPORATION ARE RESERVED TO THE DOMINICAN SISTERS. THE RESERVED POWERS REQUIRE THE APPROVAL OF THE DOMINICAN SISTERS ACTING THROUGH THE PRIORESS, FOR CERTAIN ACTIONS TAKEN BY THE BOARD OF TRUSTEES. THOSE ACTIONS ARE: 1. THE ACQUISITION, DISPOSITION, OR CONSTRUCTION, IN ONE TRANSACTION OR A SERIES OF RELATED TRANSACTIONS, OF REAL PROPERTY AND IMPROVEMENTS OF A VALUE OF FIVE MILLION DOLLARS ($5,000,000) OR MORE. 2. A CHANGE IN THE MISSION OF THE CORPORATION. 3. A CHANGE TO THE BOARD COMPOSITION, INCLUDING THE NUMBER OF BOARD MEMBERS. 4. A CHANGE IN WHO WILL RECEIVE THE REMAINING ASSETS OF THE CORPORATION AFTER SATISFACTION OF ALL LIABILITIES, DEBTS AND OBLIGATIONS OF THE CORPORATION UPON DISSOLUTION OF THE CORPORATION. 5. TO AMEND OR REPEAL THE ARTICLES, IN WHOLE OR IN PART. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WORKBOOK IS PREPARED BY THE BUSINESS OFFICE STAFF, INCLUDING THE CONTROLLER. THE FORM 990 DRAFT REVIEW PROCESS BEGINS WITH OUR ACCOUNTING AND TAX ADVISING FIRM, FOLLOWED BY THE VP OF FINANCE, THE PRESIDENT, AND THE BOARD TREASURER. THE DRAFT FORM 990 IS DISCUSSED WITH THE FINANCE COMMITTEE OF THE BOARD. THE BOARD TREASURER MAKES THE FORM 990 AVAILABLE TO MEMBERS OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE ASSISTANT TO THE PRESIDENT ANNUALLY DELIVERS AND COLLECTS THE CONFLICT OF INTEREST STATEMENTS FROM ALL ACTIVE BOARD OF TRUSTEE MEMBERS WHICH ARE THEN MADE AVAILABLE FOR REVIEW BY THE EXECUTIVE COMMITTEE OF THE BOARD. IF A CONFLICT ARISES, THERE IS A MEETING WITH THE INDIVIDUAL WITH WHOM THE CONFLICT EXISTS. IF THE CONFLICT IS NOT ELIMINATED, THE INDIVIDUAL IS REMOVED FROM THEIR ROLE. FORM 990, PART VI, SECTION B, LINE 15 THE FULL BOARD OF TRUSTEES ANNUALLY REVIEWS AND APPROVES THE COMPENSATION PACKAGE FOR THE PRESIDENT BASED ON NUMEROUS FACTORS INCLUDING PERFORMANCE AND COMPARABILITY DATA. THROUGH THE ANNUAL REVIEW AND APPROVAL PROCESS OF THE BUDGET, THE BUSINESS AND FINANCE COMMITTEE OF THE BOARD APPROVES STAFF COMPENSATION. THIS PROCESS WAS MOST RECENTLY UNDERTAKEN IN 2018. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS OPEN TO PUBLIC INSPECTION ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: DECREASE IN CASH VALUE OF LIFE INSURANCE -30,393. CHANGE IN INTEREST RATE SWAP 693,324. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 672,587. FORM 990, PART XII, LINE 2C: NO CHANGE IN PROCESS FROM PRIOR YEAR.