2014-01-14T13:42:14-06:00 2013-05-31 363168081 SIKICH LLP 3201 W WHITE OAKS DR STE 102 SPRINGFIELD IL 62704 990 2012-06-01 370661211 ILLINOIS COLLEGE ILLI 2172453003 1101 WEST COLLEGE AVENUE JACKSONVILLE IL 626502299 FRANK WILLIAMS 2172453003 2014-01-14 1 LINDA M SHAEFER CPA P00227936 2177933363 2012 2015-11-30 17:44:51Z FRANK WILLIAMS 1101 WEST COLLEGE AVENUE JACKSONVILLE IL 626502299 62073337 0 X WWW.ICEDU X 1835 IL ILLINOIS COLLEGE IS A CO-EDUCATIONAL INSTITUTION OF HIGHER LEARNING PROVIDING A FOUR YEAR EDUCATIONAL PROGRAM LEADING TO THE BACCALAUREATE DEGREE. ILLINOIS COLLEGE IS A COMMUNITY COMMITTED TO THE HIGHEST STANDARDS OF SCHOLARSHIP AND INTEGRITY IN THE LIBERAL ARTS. 27 27 991 230 0 -29118 2637851 5532998 27615843 31294433 4047463 7927198 648982 1635738 34950139 46390367 11466204 13435958 0 0 15074381 16400078 0 0 1734616 13791058 14846877 40331643 44682913 -5381504 1707454 207970234 221865786 32419723 30603274 175550511 191262512 TRUE TO ITS FOUNDING VISION IN 1829, ILLINOIS COLLEGE IS A COMMUNITY COMMITTED TO THE HIGHEST STANDARDS OF SCHOLARSHIP AND INTEGRITY IN THE LIBERAL ARTS. THE COLLEGE DEVELOPS IN ITS STUDENTS QUALITIES OF MIND AND CHARACTER NEEDED FOR FULFILLING LIVES OF LEADERSHIP AND SERVICE. 0 0 39501738 PROVISION OF POST-SECONDARY EDUCATION TO APPROXIMATELY 1000 STUDENTS. 39501738 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 1 142 0 1 991 1 1 1 0 0 0 0 0 0 0 0 0 X 27 27 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X FRANK WILLIAMS 2172453003 1101 WEST COLLEGE AVENUE JACKSONVILLE IL 626502299 SUSAN J ALLEN 0.00 X 0 0 0 JOY FRENCH BECKER 0.00 X 0 0 0 BARRETT J CALLAGHAN 0.00 X 0 0 0 ROBERT E CHIPMAN 0.00 X 0 0 0 DEL C DUNHAM 0.00 X 0 0 0 GARY R HAYNES MD 0.00 X 0 0 0 DUANE HESS 0.00 X 0 0 0 JOHN S KAY 0.00 X 0 0 0 PATRICK B MATHIS 0.00 X 0 0 0 VENICE M MEYER 0.00 X 0 0 0 STEVEN R MILLS 0.00 X 0 0 0 STEPHEN D OETGEN 0.00 X 0 0 0 JOHN T PORTER 0.00 X 0 0 0 JOHN R POWER 0.00 X 0 0 0 SUSAN L PRATT PHD 0.00 X 0 0 0 WINSTON ROGERS III 0.00 X 0 0 0 HENRY A SCHMITT 0.00 X 0 0 0 JEAN COULTAS STATLER 0.00 X 0 0 0 H CHANDLER TAYLOR 0.00 X 0 0 0 ROBERT B THOMSON III 0.00 X 0 0 0 JAMES H VOYLES 0.00 X 0 0 0 E EUGENE WELLS DDS 0.00 X 0 0 0 TONYA JOHNSON BAISE 0.00 X 0 0 0 LINDA NEWMAN PRICE 0.00 X 0 0 0 STEVE TAVENDER 0.00 X 0 0 0 JOEL HARMON 0.00 X 0 0 0 ELLEN RAMMELKAMP MILLER 0.00 X 0 0 0 AXEL STEUER 50.00 X 203363 0 27679 ELIZABETH TOBIN 50.00 X 173329 0 23831 PHILIP HOOD 50.00 X 141414 0 29408 FRANK WILLIAMS 50.00 X 136995 0 21715 STEPHANIE CHIPMAN 50.00 X 119493 0 13693 MALINDA CARLSON 50.00 X 109802 0 13603 ALLEN MAYS 50.00 X 105722 0 17775 STEPHEN PATRICK 50.00 X 103146 0 11459 1093264 0 159163 8 0 1 0 CHARTWELLS 91337 COLLECTIONS DRIVE CHICAGO IL 606931337 FOOD SERVICE 1881896 INTEGRYS ENERGY SERVICES PO BOX 19046 GREEN BAY WI 543079046 UTILITIES SERVICE 1097849 RD LAWRENCE 603 N AMOS AVENUE SPRINGFIELD IL 62707 CONSTRUCTION 1030266 HYMES CONSTRUCTION 108 EDLEN LANE JACKSONVILLE IL 62650 CONSTRUCTION 893521 GIVSCO RCC 2321 LAKESHORE DRIVE PEKIN IL 61554 CONSTRUCTION 397995 14 2802386 2730612 88185 5532998 TUITION AND FEES 900099 24831500 24831500 AUXILIARY REVENUE 900099 6462933 6462933 31294433 5260804 5260804 153982 185126 -31144 -31144 -31144 18164238 15497844 2666394 2666394 2666394 OTHER INVESTMENT INCOME 900099 621536 621536 COMMISSIONS 900099 56397 56397 STUDENT FINES 900099 27781 27781 961168 961168 1666882 46390367 35596565 0 5260804 13435958 13435958 1048429 370114 478075 200240 11932459 10164069 1165801 602589 696518 593294 68050 35174 1840498 1567736 179817 92945 882174 751436 86188 44550 93498 79641 9135 4722 80946 68950 7908 4088 221901 189015 21680 11206 1751909 1492276 171162 88471 127008 108185 12409 6414 1162132 989904 113540 58688 227121 193461 22190 11470 2957798 2519452 288977 149369 1185635 1009923 115837 59875 260060 221519 25408 13133 3669069 3125313 358468 185288 553317 471315 54059 27943 AUXILIARY ENTERPRISE 1435324 1195173 158318 81833 MISCELLANEOUS 467568 398275 45681 23612 SMALL EQUIPMENT 344792 293694 33686 17412 ACCRETION 158659 135146 15501 8012 150140 127889 14669 7582 44682913 39501738 3446559 1734616 5034291 3162652 183497 22320 207996 1237133 1666423 1766820 402990 432281 122012872 51307981 70881093 70704891 106683941 118397120 4289473 4654781 18620530 21487788 207970234 221865786 9117689 8287670 1377104 1030665 17728392 17013699 2500000 2600000 1696538 1671240 32419723 30603274 X 82022093 86631981 47298727 56504480 46229691 48126051 175550511 191262512 207970234 221865786 X 1707454 14171041 -166494 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 126040677 1459781 22434145 9199511 140735092 124899205 981243 10286798 10126569 126040677 108629232 1899688 23263640 8893355 124899205 94865292 672997 19701921 6610978 231034 108629232 12101178 703512 -19268008 7582000 94865292 0.29000 0.34000 0.37000 0 0 95066659 31590150 63476509 7905103 4051924 3853179 18904491 15665907 3238584 136619 136619 70704891 ACCRUED INTEREST RECEIVABLE 715505 BENEFICIAL INTEREST NONPERPETUAL TRUST 1340384 DEFERRED UNDERWRITING CHARGES 212631 REAL ESTATE 19170891 OTHER ASSETS 48377 21487788 ADVANCES FROM US GOVERNMENT, PERKINS LOAN PROGRAM 1671240 1671240 X 60774215 14171041 212807 14383848 46390367 0 46390367 45062214 379301 379301 44682913 0 44682913 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE COLLEGE HAS THE FOLLOWING DONOR RESTRICTED ENDOWMENT FUNDS GENERAL INSTITUTIONAL SUPPORT, SCHOLARSHIP SUPPORT, EDUCATIONAL PROGRAM SUPPORT, ACADEMIC AWARD SUPPORT, BUILDING AND MAINTENANCE SUPPORT AND LOAN FUND SUPPORT. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: INCOME TAXES: THE COLLEGE HAS A TAX DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE STATING THEY QUALIFY UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND IS EXEMPT FROM FEDERAL INCOME TAXES. AS SUCH, THE COLLEGE IS SUBJECT TO FEDERAL INCOME TAXES ONLY ON ANY NET UNRELATED BUSINESS INCOME UNDER THE PROVISIONS OF SECTION 511 OF THE CODE. THE COLLEGE FILES A FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX) ANNUALLY. WHEN THESE RETURNS ARE FILED, IT IS HIGHLY CERTAIN THAT SOME POSITIONS TAKEN WOULD BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES, WHILE OTHERS ARE SUBJECT TO UNCERTAINTY ABOUT THE MERITS OF THE TAX POSITION TAKEN OR THE AMOUNT OF THE POSITION THAT WOULD ULTIMATELY BE SUSTAINED. EXAMPLES OF TAX POSITIONS COMMON TO COLLEGES INCLUDE SUCH MATTERS AS THE FOLLOWING: THE TAX EXEMPT STATUS OF EACH ENTITY AND VARIOUS POSITIONS RELATIVE TO POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME (UBIT). UBIT IS REPORTED ON FORM 990-T, AS APPROPRIATE. THE BENEFIT OF A TAX POSITION IS RECOGNIZED IN THE FINANCIAL STATEMENTS IN THE PERIOD DURING WHICH, BASED ON ALL AVAILABLE EVIDENCE, MANAGEMENT BELIEVES THAT IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING THE RESOLUTION OF APPEALS OR LITIGATION PROCESSES, IF ANY. TAX POSITIONS ARE NOT OFFSET OR AGGREGATED WITH OTHER POSITIONS. TAX POSITIONS THAT MEET THE MORE LIKELY THAN NOT RECOGNITION THRESHOLD ARE MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS MORE THAN 50% LIKELY TO BE REALIZED ON SETTLEMENT WITH THE APPLICABLE TAXING AUTHORITY. THE PORTION OF THE BENEFITS ASSOCIATED WITH TAX POSITIONS TAKEN THAT EXCEEDS THE AMOUNT MEASURED AS DESCRIBED ABOVE IS REFLECTED AS A LIABILITY FOR UNCERTAIN TAX BENEFITS IN THE ACCOMPANYING COMBINED BALANCE SHEETS ALONG WITH ANY ASSOCIATED INTEREST AND PENALTIES THAT WOULD BE PAYABLE TO THE TAXING AUTHORITIES UPON EXAMINATION. AS OF MAY 31, 2013 AND 2012, THERE WERE NO UNCERTAIN TAX BENEFITS IDENTIFIED AND RECORDED AS A LIABILITY FORMS 990 AND 990-T FILED BY THE COLLEGE ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS) UP TO THREE YEARS FROM THE EXTENDED DUE DATE OF EACH RETURN. FORMS 990 AND 990-T FILED BY THE COLLEGE ARE NO LONGER SUBJECT TO EXAMINATION FOR THE FISCAL YEARS ENDED MAY 31, 2008 AND PRIOR. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 185,126. CHANGE IN VALUE SPLIT INTEREST AGREEMENTS 27,681. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 185,126. UBIT 194,175. 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 NONDISCRIMINATION POLICY IS INCLUDED IN ALL STUDENT RECRUITMENT CAMPAIGNS. THIS POLICY IS ALSO INCLUDED IN THE EMPLOYEE & STUDENT HANDBOOKS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 ILLINOIS COLLEGE RECEIVES FEDERAL AND STATE AID THAT IS PASSED THROUGH TO STUDENTS. THE COLLEGE PARTICIPATES IN THE TITLE IV FEDERAL STUDENT AID PROGRAM. THESE PROGRAMS INCLUDE PELL GRANT AND FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITIES GRANT. 1 STUDENT SCHOLARSHIPS 965 13435958 BOOK X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 AXEL STEUER 198296 0 0 0 5067 0 14352 0 13327 0 231042 0 0 0 ELIZABETH TOBIN 155304 0 0 0 18025 0 11287 0 12544 0 197160 0 0 0 PHILIP HOOD 135311 0 0 0 6103 0 10133 0 19275 0 170822 0 0 0 FRANK WILLIAMS 136021 0 0 0 974 0 9888 0 11827 0 158710 0 0 0 PART I, LINE 1A THE COLLEGE'S PRESIDENT IS REQUIRED TO LIVE ON CAMPUS AND A RESIDENCE IS PROVIDED. THE PRESIDENT AND VICE PRESIDENT OF DEVELOPMENT BOTH HAVE SOCIAL CLUB MEMBERSHIPS AT JACKSONVILLE COUNTRY CLUB FOR BUSINESS PURPOSES. A ILLINOIS FINANCING AUTHORITY 861091967 452000KS6 2005-01-13 15000000 CONSTRUCTION OF NEW RESIDENCE HALL 0 0 0 B ILLINOIS FINANCING AUTHORITY 861091967 2010-12-23 3900000 ENERGY PROJECT 0 0 0 A 515000 15000000 228875 2006 0 0 1 1 B 199693 3900000 161522 71343 2011 0 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 0 0 0 1 0 0 0 0 B 0 0 0 0 0 0 0 0 0 A 0 B 0 JOY FRENCH BECKER TRUSTEE 0 PRESIDENT OF THE BANK THAT THE COLLEGE USES FOR DAILY OPERATIONS. NO PAYMENT TO EITHER PARTY. 0 JIM BRUNER FORMER TRUSTEE 245985 OWNER OF 50% OF UNITED CONTRACTORS MIDWEST, WHICH OWNS ILLINOIS VALLEY PAVING; USED IVP TO PAVE PARKING LOTS. 0 ROBERT CHIPMAN TRUSTEE 0 REAL ESTATE BROKER 0 X 9 81461 FMV X MEALS & ENTERTAINMENT 5 3686 X OFFICE SUPPLIES 8 3038 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 TRUSTEE-ROBERT E. CHIPMAN IS THE FATHER-IN-LAW TO OFFICER-VP ENROLLMENT, STEPHANIE CHIPMAN FOR A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 THE BOARD OF TRUSTEES HAVE DIRECTED THE AUDIT COMMITTEE TO REVIEW THE ANNUAL 990. THE AUDIT COMMITTEE HAS THE ACCOUNTING EXPERTISE TO UNDERSTAND AND EVALUATE THE 990. AFTER THE AUDIT COMMITTEE REVIEWS THE 990 AND APPROVES IT, THE BOARD OF TRUSTEES ARE PROVIDED AN ELECTRONIC FORM AND A PAPER COPY UPON REQUEST OF THE FORM 990 FOR REVIEW. AFTER THE FORMS ARE MADE AVAILABLE TO THE BOARD OF TRUSTEES, THE FORM 990 IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY MEMBERS OF THE BOARD OF TRUSTEES COMPLETE A DISCLOSURE FORM. THIS IS DUE ON THE FIRST DAY OF THE FISCAL YEAR, JUNE 1ST. THE PRESIDENT'S OFFICE COLLECTS FOR FORMS. THESE FORMS ARE PROVIDED TO THE BOARD CHAIRPERSON AND REVIEWED FOR ANY CONFLICTS OF INTEREST. THE COLLEGE HAS A HANDBOOK THAT INCLUDES THE CONFLICT OF INTEREST POLICY. THIS IS PROVIDED TO ALL FACULTY, STAFF AND STUDENTS. MANAGEMENT MONITORS AND ENFORCES THIS POLICY BY OBSERVATION. FORM 990, PART VI, SECTION B, LINE 15 THE COLLEGE USES SEVERAL FACTORS TO DETERMINE COMPENSATION FOR OFFICERS AND KEY EMLOYEES. THE COLLEGE USES AN INDEPENDENT SEARCH FIRM FOR THE SELECTION OF PRESIDENT OF THE COLLEGE, ALONG WITH A SEARCH COMMITTEE SELECTED BY THE BOARD OF TRUSTEES. THE OFFICES OF THE COLLEGE CONSIST OF THE PRESIDENT AND VICE PRESIDENT CABINET MEMBERS. THE TRUSTEES OF THE COLLEGE DETERMINE THE PRESIDENT'S SALARY. THE PRESIDENT OF THE COLLEGE DETERMINES THE SALARY OF ALL VICE PRESIDENTS. THE COLLEGE USES SALARY SURVEYS, COMPARABLE DATA FROM OUR PEER INSTITUTIONS, AND YEARS OF EXPERIENCE WHEN DETERMINING COMPENSATION RANGES. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES ITS FORM 1023 AND 990 AVAILABLE ON GUIDESTAR AND UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN VALUE SPLIT INTEREST TRUSTS 27,681. UNRELATED BUSINESS EXPENSE -194,175.