2014-05-14T17:11:46-05:00 2013-06-30 990 2012-07-01 030482006 Ave Maria University Inc AVEM 2392802500 5050 Ave Maria Blvd Ave Maria FL 34142 Dennis Grace 2392801516 2014-05-14 2012 2015-11-30 17:44:51Z Dennis Grace 5050 Ave Maria Blvd Ave Maria FL 34142 43197956 0 X www.avemaria.edu X 2002 FL University education grounded in the traditions and faith of the Roman Catholic Church 25 24 591 112 0 0 14279998 12928403 28187590 26190027 549278 204360 2436331 3102689 45453197 42425479 10782765 10882590 0 0 14703888 13237990 0 0 2761090 24530075 26595495 50016728 50716075 -4563531 -8290596 291562180 281415602 65316261 63215612 226245919 218199990 University educational facility training individuals towards baccalaureate, masters and doctorate degrees. 0 0 31622193 9082939 18776855 Operating a university dedicated to instructing and training individuals towards a baccalaureate, masters or doctorate degrees. 1,013 students were seeking degrees at AMU during the 2012-2013 school year. 9213218 1799651 8071636 Operating a university in Latin America dedicated to instructing and training induviduals towards a baccalaureate degree. 480 students were seeking degrees at the AMU-LA campus during the 2012/2013 school year. Effective June 30, 2013 AMU transfered control of operations of AMU-LA to an unrelated party. Effective August 2013 AMU transfered all remaining assets and liabilities to the new owner. 40835411 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 1 1 1 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 1 0 0 0 1 136 0 591 1 1 1 1 NU 0 0 0 1 1 0 0 0 0 0 0 X 25 24 1 0 0 0 0 0 0 1 0 0 0 0 1 1 1 1 1 1 0 0 AK KS NH OR KY LA MA MD MO WA X X Dennis Grace 2392801516 5050 Ave Maria Blvd Ave Maria FL 34142 Thomas S Monaghan 5.00 X 23660 0 12688 Patricia Donahue Dolan 1.00 X 0 0 0 John F Donahue 1.00 X 0 0 0 A M O'Hare 1.00 X 0 0 0 Edward W Easton 1.00 X X 0 0 0 Mary L Demetree 1.00 X 0 0 0 Robert G Kennedy PhD 1.00 X 0 0 0 Rev Benedict Groeschel 1.00 X 0 0 0 Walter Knysz Jr DDS 1.00 X 0 0 0 Monsignor Laurence E Higgins 1.00 X 0 0 0 John V Tippmann Sr 1.00 X 0 0 0 Colleen M Kvetko 1.00 X X 0 0 0 Fr John J Ludden 1.00 X 0 0 0 Daniel N Mezzalingua 1.00 X 0 0 0 Donna M Bradt 1.00 X 0 0 0 Arthur C Brooks PhD 1.00 X 0 0 0 Glory L Sullivan 1.00 X 0 0 0 Michael T O Timmis 1.00 X X 0 0 0 Most Rev Frank Dewane 1.00 X 0 0 0 Amb Michael Novak 1.00 X 0 0 0 Joseph C Canizaro 1.00 X 0 0 0 H James Towey 40.00 X X X 301166 0 26005 William J McGurn 1.00 X 0 0 0 Bishop David O'Connell 1.00 X 0 0 0 Sean Patrick Cardinal O'Malley 1.00 X 0 0 0 Thomas P Prince 1.00 X 0 0 0 Patrick T Rainey 1.00 X 0 0 0 Paul R Roney 1.00 X 0 0 0 Dennis Grace 40.00 X 177581 0 24335 Eugene Munin 40.00 X 122279 0 8585 Ken Ferguson 40.00 X 59351 0 8739 Louis Traina 40.00 X 169114 0 21845 Ratchapol Dejthai 40.00 X 150097 0 23815 Michael Waldstein 40.00 X 132323 0 23552 Douglas Bushman 40.00 X 117284 0 23328 Michael Dauphinais 40.00 X 160822 0 24049 Nicholas Healy 40.00 X 173586 0 9343 1587263 0 206284 14 1 1 0 Food Service Inc 1801 W Glendale Ave Milwaukee WI 53209 Student food service 2286514 Hylant Group 811 Madison Ave Toledo OH 43624 Insurance 380532 Ave Maria Development 2600 Golden Gate parkway Naples FL 34105 Bldg lease & shared seervices 333209 Interline Brands Inc 3031 N Andrews Ave Pompano FL 33064 Cleaning supplies 172067 Jan-Pro Cleaning Systems 13850 Treeline Ave Ste 11 Ft Myers FL 33913 Cleaning service 152601 9 3368919 9559484 12928403 Tuition & fees 611710 19443826 19443826 Faculty/student housing 531110 6137580 6137580 Events & training 611710 452784 452784 Misc Program revenue 611710 123278 123278 AMU Press Co-production 511110 32559 32559 26190027 205485 205485 1094 1094 2690385 607279 2083106 2083106 2083106 17780 18905 -1125 -1125 -1125 712897 146293 566604 566604 Change in Split Int Agreement 611710 388738 388738 Miscellaneous revenue 611710 63147 63147 451885 42425479 26848491 0 2648585 9082939 9082939 1799651 1799651 884328 884328 10508236 8438075 1117909 952252 1171788 942841 132959 95988 673638 530212 75074 68352 68249 68249 130314 130314 1023354 716127 177909 129318 380631 198796 181835 459802 303588 118187 38027 177349 14611 112802 49936 256018 77528 178490 672704 481908 117820 72976 106785 65956 1318 39511 948596 1562 947034 5472916 4378333 1094583 85247 85247 Loss on impairment of a 5502222 5502222 Loss on discontinued op 2988840 2988840 Student meals 2022411 2022411 Institutional costs 1960188 1142196 817992 4339869 2062368 1962598 314903 50716075 40835411 7119574 2761090 9408421 15033117 2229950 1325000 2026354 574962 1062151 1240594 9149937 5055659 160926 135564 101646 432435 247583216 28358666 226537609 219224550 4205042 6508991 36680144 31884730 291562180 281415602 2540222 1787307 53730000 52315000 5695009 5532677 306533 227914 3044497 3352714 65316261 63215612 X 220342567 211268414 3705271 5328495 2198081 1603081 226245919 218199990 291562180 281415602 -8290596 244667 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1345133 X X X 0 5903352 1715604 527444 -1214824 6931576 7617683 600236 -677882 -1636685 5903352 8038309 1828707 726199 -2975532 7617683 5553532 3547841 753563 -1816627 8038309 9346031 692371 -1676233 -2808637 5553532 0.00000 0.23130 0.76870 0 0 3641485 3641485 221275331 19098943 202176388 2511253 755585 1755668 20155147 8504138 11651009 219224550 Beneficial Interest in Trust 1173682 Intangible Assets 2000000 Deferred Bond Issuance Costs 729593 Assets held for rent 25748802 Latin America campus assets 885301 Assets held for sale 1347352 31884730 Gift Annuity Payable 1383562 Fair value interest rate swap 1074574 Latin America campus liabilities 894578 3352714 X 42670146 244667 244667 42425479 0 42425479 50716075 0 50716075 0 50716075 Part III, Line 4: The university has assembled a collection of rare and historical religious and philosophical books and manuscripts which are used for scholarly research by both undergraduate and graduate students. These collections are also made available to visiting scholars and researchers. In addition to its books and manuscript collection, the university also owns a small collection of religious art and artifacts that are on public display and are used to further its mission as a university in the Catholic tradition, bringing social and spiritual benefits to its students and staff. Description of Uncertain Tax Positions Under FIN 48: Part X, Line 2: The Internal Revenue Service has determined that AMU, the College, AMFA, and the Land Trust are exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by the University and recognize a tax liability if the University has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS or other applicable taxing authority. Management has analyzed the tax positions taken by the University and has concluded that as of June 30, 2013 and 20112, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The University is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any periods in progress. Management believes it is no longer subject to income tax examinations for years prior to 2010. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Explanation of Nondiscriminatory Policy Publication Schedule E, Part I, Line 3 These policies are published in catalogs describing the institution's course offerings and employment advertisements. 1 Central America 1 24 Operate a university in Latin America instructing individuals towards a baccalaureate degree. Full course accredited curriculuum taught by qualified professors. Effective June 30, 2013 AMU transfered control of operations to an unrelated third party. Effective August 2013 AMU transfered all remaining assets to the new owner. 7098426 1 24 0 0 1 24 7098426 0 7098426 General scholarship grants to qualified students at Ave Maria University in Nicaragua. The Office of Financial Aid determines a student's eligibility based on the family's financial strength, which includes consideration of family income and assets, number of children in college and if appropriate, special circumstances. Financial aid will be revoked without adequate progress. Nicaraqua, Central America 260 1799651 Scholarships deposited with university FMV of cash at time of deposit 0 0 0 0 0 0 Method Used to Acccount for Expenditures: Schedule F, Part I, Line 3: Monthly financial reviews, annual certified audits by an independent auditing firm, site visits of the university. Programatic reviews, establish annual budgets, meetings and conference calls. University Scholarship Dinner 650497 650497 119783 Polish Dinner Dance 49830 49830 22745 1 12570 12570 3765 712897 712897 146293 146293 566604 1 General Scholarship grants are awarded to qualified students attending Ave Maria University. 761 9082939 FMV as semester classes begin Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: The Office of Financial Aid determines a student's eligibility based on the family's financial strength, which includes consideration of family income and assets, number of children in college and if appropriate, special circumstances. Financial aid will be revoked without adequate progress. X 0 0 X X X X 1 0 0 0 0 0 0 0 0 H James Towey 301166 0 0 0 0 0 0 0 26005 0 327171 0 0 0 Dennis Grace 177581 0 0 0 0 0 0 0 24335 0 201916 0 0 0 Louis Traina 169114 0 0 0 0 0 0 0 21845 0 190959 0 0 0 Ratchapol Dejthai 150097 0 0 0 0 0 0 0 23815 0 173912 0 0 0 Michael Waldstein 132323 0 0 0 0 0 0 0 23552 0 155875 0 0 0 Michael Dauphinais 160822 0 0 0 0 0 0 0 24049 0 184871 0 0 0 Nicholas Healy 173586 0 0 0 0 0 0 0 9343 0 182929 0 0 0 Part I, Line 1a The University President is provided a residence near campus as an ordinary and necessary expense to be accessible and available to faculty, administration and students. Part I, Line 4a University President, Nicholas Healy began receiving severance pay March 7, 2011. A Collier County Educational Facilities Authority - Series 2006 650915682 19463TAB2 2006-10-01 30470000 Acquisition and construction of 3 dormitories and other buildings 0 0 0 B Collier County Educational Facilities Authority - Series 2007 650915682 19463TAC0 2007-08-01 10000000 Acquisition and construction of housing facilities & dormitory 0 0 0 C Collier County Educational Facilities Authority - Series 2008 650915682 19463TAD8 2008-08-01 17000000 Acquisition, construction & equiping of 554 bed student dormitory 0 0 0 A 0 0 1 1 B 0 0 1 1 C 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 1 1 1 Comerica Securities 10.000000000000 0 0 0 0 0 B 1 1 1 Fifth Third Securities 10.000000000000 0 0 0 0 0 C 1 1 1 Fifth Third Securities 3.000000000000 0 0 0 0 0 Rhodora J Donahue Academy Lease space for school Lease of school facility X 380000 1058953 0 1 1 Ave Maria Development Provide future growth potential for AMU Purchase of land X 89576 99898 0 1 1 Ave Maria Foundation For The Arts Accepts contributions and gifts of art on behalf of AMU General operating expenses X 81743 81743 0 1 0 1240594 Ave Maria Development Thomas S Monaghan is an officer and employee of AMU and a 50% owner of AMD 345335 AMU reimburses AMD for shared services and for expenses involving construction and maintenance of the permanent campus. 0 Ave Maria Foundation Thomas S Monaghan is an overlaping board member of AMU and AMF 27235 AMU reimburses AMF for shared services involving human resources and financial management. 0 X 6 870734 FMV at time of gift 0 1 0 Form 990, Part VI, Section A, line 2 Patricia Donahue Dolan, a Board Trustee, is the daughter of John Donahue also a Board Trustee. Form 990, Part VI, Section A, line 8b The Finance/audit Committee does not take or retain minutes. Form 990, Part VI, Section B, line 11 The CFO of the University reviews the Form 990 prior to signing. Form 990 is also provided to the Chairperson of the Audit Committee for review and comment prior to filing. The return is also made available to any Board Mmeber, if they request it. The Board is aware of this process and has an opportunity to ask any questions prior to filing. Form 990, Part VI, Section B, line 12c Responsible Persons shall periodically complete a Conflict of Interest Disclosure Statement identifying any relationships, positions or circumstances in which the Responsible Person is involved where the Responsible Person believes there could be an actual or apparent Conflict of Interest. Responsible Person shall supplement the Statement whenever necessary to keep the organization informed. Form 990, Part VI, Section B, line 15a The Board of Trustees reviewed and approved the compensation and decission making process when determining the compensation for its new President. The salary was compared to other Presidents of peer Universities using the Chronicle for Higher Education database. The process, contract, and salary were also reviewed and signed off by Otto Immel at Quarles & Brady who is a lawyer in the practice of labor compensation. Form 990, Part VI, Section C, line 18 Forms 1023, 990 and 990-T are available on request during normal working hours by appointment. Form 990, Part VI, Section C, line 19 All documents required to be available to the public may be reviewed during normal working hours at the Ave Maria University Administrative Office in Ave Maria Florida by appointment. Ave Maria College 5050 Ave Maria Blvd Ave Maria FL 34142 383415373 Ave Maria College ceased operations 6/30/07 and moved to Ave Maria, Florida. MI 501(c)(3) Sec 170(b)(1)(A)(ii) AMU owns 100 of AMC stock 0 Ave Maria University Supporting Trust Inc 5050 Ave Maria Blvd Ave Maria FL 34142 200261366 Support the tax exempt purposes of Ave Maria University FL 501(c)(3) 509(a)(3) 0 Ave Maria University Land Trust 5050 Ave Maria Blvd Ave Maria FL 34142 200154974 Provide lease space, utilities, insurance and contract labor to AMU FL 501(c)(3) 509(a)(3) 0 Ave Maria Foundation For The Arts 5050 Ave Maria Blvd Ave Maria FL 34142 264041143 Supporting organization to Ave Maria University FL 501(c)(3) 509(a)(3) 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 1 Ave Maria College S 926769 Ave Maria Foundation For The Arts Q 438 FMV Ave Maria Foundation For The Arts P 5948 Cash Ave Maria Development K 345335 Cash Ave Maria Development P 34419 Cash Rhodora J Donahue Academy P 75047 Cash Rhodora J Donahue Academy K 259000 FMV Ave Maria University Land Trust Inc R 224165 Cash Ave Maria University Land Trust Inc A 138396 Cash