2014-03-20T14:50:30-05:00 2013-08-31 381357951 PLANTE & MORAN PLLC 2601 CAMBRIDGE CT SUITE 500 AUBURN HILLS MI 48326 990 2012-09-01 381308480 WALSH COLLEGE OF ACCOUNTANCY & BUSINESS ADMINISTRATION WALS 2486898282 3838 LIVERNOIS RD PO BOX 7006 TROY MI 480077006 HELEN C KIEBA-TOLKSDORF 2486898282 2014-03-12 1 LYNNE HUISMANN P00053811 2483757100 2012 2015-11-30 17:44:51Z STEPHANIE W BERGERON 3838 LIVERNOIS RD PO BOX 7006 TROY MI 480077006 45974942 0 X WWW.WALSHCOLLEGE.EDU X 1922 MI WALSH COLLEGE DELIVERS A BUSINESS EDUCATION THAT INTEGRATES APPLICATION AND THEORY TO PREPARE GRADUATES FOR SUCCESSFUL CAREERS. IN SUPPORT OF ITS MISSION, WALSH COLLEGE WILL:-ENSURE RELEVANT PROGRAMS THROUGH CLOSE TIES TO THE BUSINESS COMMUNITY AND FACULTY WHO BRING THEIR PROFEFSSIONAL WORK EXPERIENCE, CREDENTIALS, AND SCHOLARSHIP INTO THE CLASSROOM;-OFFER COURSES AND SERVICES AT CONVENIENT LOCATIONS IN SOUTHEASTERN MICHIGAN AND GLOBALLY VIA ONLINE;-PROVIDE PERSONALIZED AND KNOWLEDGEABLE SERVICE TO STUDENTS;-PROMOTE INDIVIDUAL PROFESSIONAL DEVELOPMENT AND ORGANIZATIONAL GROWTH THROUGH NON-CREDIT PROGRAMSWALSH COLLEGE OFFERS A BROAD RANGE OF HIGH-QUALITY PROGRAMS IN FIELDS SUCH AS ACCOUNTING, FINANCE, INFORMATION TECHNOLOGY AND ASSURANCE, MANAGEMENT AND LEADERSHIP, MARKETING, AND TAXATION.ESTABLISHED IN 1922, WALSH COLLEGE IS A PRIVATE, INDEPENDENT, NON-PROFIT, AND UPPER-DIVISION INSTITUTION THAT GRANTS DEGREES AT THE BACHELOR'S, MASTER'S, AND DOCTORAL LEVELS. 29 28 432 28 0 0 743685 954173 26955860 26400980 800655 1809264 115458 165680 28615658 29330097 598359 683585 0 0 15239650 16060653 0 0 933463 10707964 10873532 26545973 27617770 2069685 1712327 54962931 56012665 14893883 10405283 40069048 45607382 X WALSH COLLEGE DELIVERS A BUSINESS EDUCATION THAT INTEGRATES APPLICATION AND THEORY TO PREPARE GRADUATES FOR SUCCESSFUL CAREERS. 0 0 12357800 26396526 A PRACTICAL BLEND OF BUSINESS THEORY AND REAL-WORLD APPLICATION DEFINES THE WALSH COLLEGE EXPERIENCE. OUR MISSION IS TO DELIVER A BUSINESS EDUCATION THAT INTEGRATES APPLICATION AND THEORY TO PREPARE GRADUATES FOR SUCCESSFUL CAREERS. THE FACULTY ARE EXPERIENCED PROFESSIONALS AS WELL AS BEING DEDICATED TEACHERS, WHILE THE ADMINISTRATIVE STAFF ENSURES EACH STUDENT RECEIVES PERSONALIZED SERVICE IN A PROFESSIONAL LEARNING ENRIRONMENT.TOTAL ENROLLMENT FOR FY 2012-2013 UNDERGRADUATE 1,318 GRADUATE 2,646 DOCTORAL 19 NON-DEGREE 192 3542796 STUDENT SERVICESTHE STUDENT SERVICES COMPRISE SEVERAL DIFFERENT DEPARTMENTS. THE ADMISSIONS AND ACADEMIC ADVISING OFFICE PROVIDES SUPPORT PROGRAMS AND SERVICES TO ASSIST WALSH COLLEGE STUDENTS IN ACHIEVING THEIR GOALS. ACADEMIC ADVISORS ARE AVAILABLE TO HELP STUDENTS CHOOSE PROGRAMS, MAJORS AND ASSIST WITH SELECTING A CAREER FIELD. THE CAREER SERVICES OFFICE ASSISTS CURRENT FOR-CREDIT STUDENTS AND DEGREED-ALUMNI IN THE PURSUIT OF THEIR CAREER GOALS BY PROVIDING CAREER ADVISING, RESUME REVIEWS, JOB POSTING, MOCK INTERVIEWS, AND COORDINATING RECRUITING EVENTS. 683585 683585 INCOMING UNDERGRADUATE STUDENTS ARE INVITED TO APPLY FOR A WALSH COLLEGE SCHOLARSHIP TO ASSIST THEM IN FINANCING THEIR EDUCATION. SCHOLARSHIPS ARE OFFERED IN THREE CATEGORIES: COMMUNITY COLLEGE EXCELLENCE AWARDS, ACADEMIC AWARDS, AND MULTICULTURAL AWARDS. 620978 4454 THE WALSH COLLEGE LIBRARY COLLECTION CONSISTS OF APPROXIMATELY 32,000 VOLUMES TOTALLY FOCUSED TO SUPPORT THE BUSINESS PROGRAMS OFFERED AT WALSH. IN ADDITION, THERE ARE OVER 2,000 E-BOOKS AND 61 ONLINE DATABASES. 620978 4454 17205159 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 X 32 0 1 432 1 0 0 0 0 0 0 0 0 0 0 X 29 28 1 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X HELEN KIEBA-TOLKSDORF 2486898282 3838 LIVERNOIS ROAD PO BOX 7006 TROY MI 480077006 X RICHARD D AGINIAN 0.30 0.30 X X 0 0 0 BETH L CAFARO 0.30 X 0 0 0 EDWARD D CALLAGHAN PHD 0.30 X 17040 0 0 DONALD H CLAYTON 0.30 X 0 0 0 VAN E CONWAY 0.30 X 0 0 0 DENNIS G COWAN 0.30 0.30 X 0 0 0 BARBARA J DOBB 0.30 0.30 X 0 0 0 SHIRLEY E GOFRANK 0.30 X 0 0 0 EDWARD T GWILT - VICE CHAIR 0.30 0.30 X X 0 0 0 WILLIAM F JONES 0.30 X 0 0 0 ALAN J KAUFMAN 0.30 0.30 X 0 0 0 KATHLEEN M KOSMATKA 0.30 X 0 0 0 N PATRICIA KURTZ 0.30 X 0 0 0 AUBREY W LEE SR 0.30 X 0 0 0 BARBARA J MAHONE 0.30 X 0 0 0 MARK R MCCAMMON 0.30 0.30 X 0 0 0 THOMAS F MCNULTY 0.30 X 0 0 0 RONALD D MOORE 0.30 0.30 X 0 0 0 ROBERT H NAFTALY 0.30 X 0 0 0 DAVID J PETOSKEY 0.30 X 0 0 0 MARY PETROVICH 0.30 X 0 0 0 MICHAEL J PLOTZKE 0.30 X 0 0 0 MADHAVA REDDY 0.30 0.30 X 0 0 0 WILLIAM C RONEY III 0.30 X 0 0 0 MICHAEL A SEMANCO 0.30 X 0 0 0 NEAL F ZALENKO 0.30 X 0 0 0 A MARK ZEFFIRO 0.30 X 0 0 0 STEPHANIE W BERGERON 39.00 1.00 X X 288882 0 42297 DAVID GIRODAT 0.30 X 0 0 0 ELIZABETH BARNES 40.00 X 158551 0 30637 HELEN KIEBA-TOLKSDORF 39.00 1.00 X 164346 0 47236 AUDREY OLMSTEAD 39.00 1.00 X 172690 0 29784 PAUL D SHIELDS 40.00 X 222534 0 36465 MICHAEL LEVENS 40.00 X 215357 0 31434 MARK SOLOMON 40.00 X 197396 0 41604 SHEILA RONIS 40.00 X 164452 0 21229 RICHARD BERSCHBACK 40.00 X 189528 0 45003 TERRI WASHBURN 40.00 X 171536 0 37115 1962312 0 362804 26 0 1 0 CARETECH SOLUTIONS 901 WILSHIRE TROY MI 48084 IT SYSTEMS SUPPORT 1943612 HARRISON MEDIA AGENCY 24116 CROCKER CLINTON TOWNSHIP MI 48036 MARKETING 1709365 PERICH 117 N FIRST ST ANN ARBOR MI 48104 MARKETING/ADVERTISING 326642 DYKEMA GOSSETT PLLC 175 SOUTH WEST TEMPLE STE 700 SALT LAKE CITY UT 84121 LEGAL SERVICES 118683 CORE3 SOLUTIONS 302 FERN HOLLOW TALLAHASSEE FL 32312 DIGITAL MARKETING 114485 6 467529 43094 443550 954173 TUITION AND FEES 611600 26079802 26079802 WALSH INSTITUTE 611600 177443 177443 BOOKSTORE COMMISSIONS 611600 139281 139281 LIBRARY REVENUE 611600 4454 4454 26400980 261405 261405 165680 0 165680 165680 165680 18192704 16644845 1547859 1547859 1547859 29330097 26400980 0 1974944 683585 683585 1336661 407954 707964 220743 10813303 8942661 1478166 392476 841359 626087 174973 40299 2207733 1678997 431097 97639 861597 662468 158694 40435 125432 125432 207553 207553 72000 72000 57969 57969 869743 105409 759495 4839 2001572 133083 1859603 8886 947551 288878 604016 54657 1833342 916671 916671 1962931 561674 1400756 501 360144 215791 124769 19584 78673 53208 22134 3331 1425348 1287084 115528 22736 83700 83700 MISCELLANEOUS 341049 265082 48630 27337 LIBRARY SERVICES 284706 284706 BAD DEBT EXPENSE 123496 123496 GOVT PROGRAMS 56141 56141 42182 35680 6502 27617770 17205159 9479148 933463 3307708 1832970 251635 251885 22147 96005 355501 370561 643114 524101 38715317 14935036 22972116 23780281 21477747 21045309 4818555 7028183 1114408 1083370 54962931 56012665 992556 1211024 839795 993297 5679828 4859611 7381704 3341351 14893883 10405283 X 38323063 43831246 726485 756636 1019500 1019500 40069048 45607382 54962931 56012665 X 1712327 -113132 3939139 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 72000 0 0 72000 0 EXPLANATION OF LOBBYING ACTIVITIES: PART II-B, LINE 1: LOBBYING ACTIVITY REPRESENTS FEES PAID TO AN OUTSIDE CONSULTING FIRM THAT SPECIALIZED IN GOVERNMENT RELATIONS, WITH THE INTENT TO ESTABLISH DIRECT CONTACT WITH LEGISLATORS IN REGARD TO DISTRIBUTION OF APPROPRIATIONS. 1745985 604912 50253 625014 1776136 1889752 702007 69550 915324 1745985 2101621 765700 69385 1046954 1889752 2313322 523793 42517 778011 2101621 2573327 563408 64937 888350 2313322 0.00000 0.57000 0.43000 0 1 1 2692659 2692659 23293242 7249979 16043263 8830907 5043709 3787198 3898509 2641348 1257161 23780281 ALTERNATIVE INVESTMENTS 7028183 F 7028183 ACCRUED PENSION 3187852 OTHER LONG TERM LIABILITIES 153499 3341351 X 33252193 -113132 5024979 4911847 28340346 989751 989751 29330097 26772336 144317 144317 26628019 989751 989751 27617770 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE COLLEGE HAS A TOTAL OF 53 ENDOWMENTS. 50 OF THESE ENDOWMENTS ARE FOR UNDERGRADUATE AND GRADUATE SCHOLARSHIPS, 2 ENDOWMENTS PROVIDE TUTORING SUPPORT AND 1 ENDOWMENT PROVIDES AN AWARD FOR ACADEMIC EXCELLENCE IN ACCOUNTING. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE CERTAIN TAX POSITIONS TAKEN BY THE FOUNDATION AND RECOGNIZE A TAX LIABILITY IF THE FOUNDATION HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION AND HAS CONCLUDED THAT AS OF AUGUST 31, 2013, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO AUGUST 31, 2010. PART XI, LINE 2D - OTHER ADJUSTMENTS: FOUNDATION REVENUE - SEPARATE 990 FILED 1,153,378. PENSION ADJUSTMENT 3,871,601. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 683,585. SPECIAL EVENTS 306,166. PART XII, LINE 2D - OTHER ADJUSTMENTS: FOUNDATION EXPENSES - SEPARATE 990 FILED 211,855. UNREALIZED SWAP INCOME -67,538. PART XII, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENTS 306,166. SCHOLARSHIPS 683,585. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE COLLEGE'S NONDISCRIMINATORY POLICY IS ON ALL STUDENT APPLICATIONS, COLLEGE PUBLICATIONS, AND IS POSTED ON THE WEBSITE. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE INSTITUTION RECEIVED PROJECT GRANTS FROM THE FEDERAL DEPARTMENT OF EDUCATION AND FROM THE STATE OF MICHIGAN. THESE PROJECT GRANTS ARE USED IN FURTHERANCE OF THE INSTITUTION'S EXEMPT PROGRAMS. 1 SCHOLARSHIPS 248 683585 CASH N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: SCHOLARSHIPS ARE APPLIED DIRECTLY TO INSTITUTIONAL CHARGES. DIRECT COSTS INCURRED TO SUPPORT THE PRIMARY FUNCTIONS OF WALSH COLLEGE ARE SPECIFICALLY IDENTIFIED TO THE BENEFITING ACTIVITY. RESTRICTED FUNDS, INCLUDING FEDERAL AWARDS, ARE RECORDED IN SEPARATE FUNDS AND DIRECT EXPENDITURES OF THESE PROGRAMS ARE RESTRICTED TO THE EXCLUSIVE PURPOSE OF THE AWARD. ALL SPONSORED PROJECTS ARE INCLUDED IN THE DIRECT COST BASE. INDIRECT COSTS ARE ALLOCATED PROPORTIONALLY AS PRESCRIBED IN OMB CIRCULAR A-21. ANY UNDER RECOVERY OF INDIRECT COSTS FROM ANY SPONSORED ACTIVITY IS NOT CHARGED TO ANY OTHER SPONSORED PROJECT EITHER DIRECTLY OR INDIRECTLY. X 1 1 X X X X X X 0 0 0 0 0 0 0 0 0 STEPHANIE W BERGERON 286032 0 2850 0 0 0 22970 0 19327 0 331179 0 0 0 ELIZABETH BARNES 156991 0 1560 0 0 0 22027 0 8310 0 188888 0 0 0 HELEN KIEBA-TOLKSDORF 162696 0 1650 0 0 0 23298 0 23938 0 211582 0 0 0 AUDREY OLMSTEAD 171000 0 1690 0 0 0 13491 0 16293 0 202474 0 0 0 PAUL D SHIELDS 220284 0 2250 0 0 0 17357 0 19108 0 258999 0 0 0 MICHAEL LEVENS 99606 0 5000 0 110751 0 16945 0 14489 0 246791 0 0 0 MARK SOLOMON 111082 0 2049 0 84265 0 27680 0 13924 0 239000 0 0 0 SHEILA RONIS 113461 0 2023 0 48968 0 12900 0 8329 0 185681 0 0 0 RICHARD BERSCHBACK 112739 0 1465 0 75324 0 26500 0 18503 0 234531 0 0 0 TERRI WASHBURN 117616 0 5240 0 48680 0 13505 0 23610 0 208651 0 0 0 PART I, LINE 1A HEALTH CLUB DUES ARE PAID FOR DIRECTLY BY THE COLLEGE TO THE HEALTH CLUB FOR THE OFFICERS AND IS INCLUDED IN THEIR W-2'S. A MICHIGAN HIGHER EDUCATION FACILITIES AUTHORITY 2010-04-01 7510000 TO REFUND ON 6/1/10 THE SERIES 2005 BONDS 0 0 0 A 2586158 7510000 105000 2007 1 0 1 1 A 0 0 0 0 0.02000 0.00000 0.02000 0 0 0 A 0 0 1 1 1 1 COMERICA BANK 3.000000000000 0 0 0 0 0 A 1 CURRENT TRUSTEE COMPENSATION FORM 990, PART IV, LINE 28C EDWARD CALLAGHAN, CURRENT TRUSTEE, WAS COMPENSATED IN HIS ROLE AS ADJUNCT PROFESSOR IN THE AMOUNT OF $14,910. FORM 990, PART VI, SECTION A, LINE 2 STEPHANIE BERGERON AND ROBERT NAFTALY BOTH SERVE ON THE SAME COMPANY BOARD. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY ALL OFFICERS OF THE COLLEGE AND THEN BY THE AUDIT COMMITTEE AND SENT TO THE BOARD OF TRUSTEES. THE FINAL 990 IS THEN POSTED TO AN INTERNAL SITE. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES, OFFICERS, EXECUTIVE AND SELECTIVE KEY ADMINISTRATORS ARE REQUIRED TO FILE A CONFLICT OF INTEREST STATEMENT ANNUALLY AND EVERY TIME THERE IS A DECISION UNDER CONSIDERATION IN WHICH SUCH A PERSON MAY HAVE AN INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE OFFICERS AND KEY EMPLOYEES IS APPROVED BY THE ORGANIZATION & COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THE COMPENSATION IS EITHER SET BY WRITTEN CONTRACT OR ANNUALLY BASED ON COMPENSATION SURVEYS AND/OR INDEPENDENT COMPENSATION CONSULTANT. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC THROUGH WRITTEN OR VERBAL REQUESTS. HOURS WORKED FOR RELATED ORGANIZATION FORM 990, PART VII: THE OFFICERS LISTED ON PART VII OF FORM 990 EACH SPEND 1 HOUR PER WEEK WORKING FOR THE WALSH COLLEGE FOUNDATION, A RELATED ORGANIZATION. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: PENSION ADJUSTMENT 3,871,601. UNREALIZED SWAP INCOME 67,538. OVERSIGHT OF AUDIT: FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. THE WALSH COLLEGE FOUNDATION 3838 LIVERNOIS TROY MI 480077006 200664128 RAISE FUNDS FOR SCHOLARSHIPS AND GENERAL SUPPORT OF WALSH COLLEGE MI 501(C)(3) 7 WALSH COLLEGE 1 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 1 1 0 0 WALSH COLLEGE FOUNDATION C 467529 CASH TRANSACTION