2026-02-02T15:55:59+00:00 2025-06-30 440160260 Forvis Mazars LLP 111 E Wayne Street Suite 600 Fort Wayne IN 46802 990 2024-07-01 350845258 INDIANA INSTITUTE OF TECHNOLOGY INC INDI 2604425561 1600 EAST WASHINGTON BLVD FORT WAYNE IN 46803 JUDY K ROY TREASURER 2604425561 2026-02-02 true true Lauren Denton P01571860 2604604000 2026-02-02 2024 2025-03-06 01:10:19Z INDIANA TECH KARL W EINOLF 1600 EAST WASHINGTON BLVD FORT WAYNE IN 46803 190596154 false X WWW.INDIANATECH.EDU X 1948 IN PROVIDES LEARNERS WITH CAREER-FOCUSED, PROFESSIONAL EDUCATION IN THE AREAS OF BUSINESS, COMPUTER STUDIES, ENGINEERING, CRIMINAL SCIENCE, AND GENERAL STUDIES. 21 19 1052 50 419820 111524 5089293 28107769 92256220 102671116 4338031 13389815 12981 59918 101696525 144228618 40571110 46696519 0 32580571 34881565 145700 121200 2605728 36285729 43356845 109583110 125056129 -7886585 19172489 332648381 347832960 59646849 53188607 273001532 294644353 INDIANA TECH IS A PRIVATE, INDEPENDENT, AND NON-DENOMINATIONAL UNIVERSITY. STUDENTS ARE PREPARED FOR ACTIVE PARTICIPATION IN THE COMPLEX, GLOBAL SOCIETY OF THE 21ST CENTURY AND ARE MOTIVATED TOWARD A LIFE OF SIGNIFICANCE AND WORTH. ABOUT 1,300 STUDENTS ARE ENROLLED IN THE TRADITIONAL DAY SCHOOL, AND THE COLLEGE OF PROFESSIONAL STUDIES HAS ABOUT 5,500 STUDENTS ENROLLED. false false 99071392 46669819 102671116 AT INDIANA INSTITUTE OF TECHNOLOGY, WE EXCEL AT EDUCATING STUDENTS FROM ALL WALKS OF LIFE, FOR ALL KINDS OF MEANINGFUL WORK. WE'RE A TRULY INCLUSIVE COMMUNITY OF LEARNERS, ENSURING THAT STUDENTS ARE SUPPORTED, INSPIRED, AND EMPOWERED TO MAXIMIZE THEIR PROFESSIONAL PROSPECTS, ADVANCE IN THEIR CAREERS, AND IMPROVE THEIR LIVES AND THE LIVES OF OTHERS. WE BELIEVE STUDENTS LEARN BEST WHEN THEY MEANINGFULLY ENGAGE WITH A REAL-WORLD PROFESSOR. WITH AN ALUM. WITH A CAUSE. WITH A TEAM. WITH A PEER. SIMPLY PUT, OUR MODEL IS HANDS-ON. INDIANA TECH OFFERS DEGREES AT THE ASSOCIATE, BACHELOR'S, MASTER'S AND DOCTORAL LEVELS, IN FIELDS SUCH AS ENGINEERING, COMPUTER SCIENCES, CYBERSECURITY, BUSINESS, ANALYTICS, CRIMINAL JUSTICE, BIOLOGY, HEALTH SCIENCES, AND MORE. IN ALL, THE UNIVERSITY OFFERS MORE THAN 60 QUALITY DEGREE OPTIONS. 99071392 true true false false false false false true false true true false false false true false true false true true true false false true true false false true true true true false false false false false false false false false false true false false false false true false false false false true 5371 0 1052 true true true false false false false false false false false false false false X 21 19 false false false false false false false true true false false false true true true true true true true true false false IN X SHELLY MUSOLF 2603992828 1600 E WASHINGTON BLVD FORT WAYNE IN 46803 Karl W Einolf President 40.0 0.0 X X 551991 0 141412 Anthony J Juliano Trustee 1.0 0.0 X 0 0 0 Arnold O Pierson Trustee 1.0 0.0 X 0 0 0 Cheri A Becker Trustee 1.0 0.0 X 0 0 0 Clifford M Clark Trustee 1.0 0.0 X 0 0 0 CRYSTAL THOMAS TRUSTEE 1.0 0.0 X 0 0 0 D Geoffrey Paddock Trustee 1.0 0.0 X 0 0 0 David J Nash Trustee 1.0 0.0 X 0 0 0 Dena M Jacquay Trustee 1.0 0.0 X 0 0 0 Gregg C Sengstack Trustee 1.0 0.0 X 0 0 0 Jack Phlipot Associate Professor 40.0 0.0 X 121369 0 39793 Jarrod R Stoller Trustee 1.0 0.0 X 0 0 0 Jeffrey A Benzing Trustee 1.0 0.0 X 0 0 0 JEFFREY WITTE TRUSTEE 1.0 0.0 X 0 0 0 John Kunze Trustee 1.0 0.0 X 0 0 0 Mark Dely Trustee 1.0 0.0 X 0 0 0 Richard J Schul Trustee 1.0 0.0 X 0 0 0 Thomas L Burns Trustee 1.0 0.0 X 0 0 0 Wendy Kobler Trustee 1.0 0.0 X 0 0 0 Whitney Bandemer Trustee 1.0 0.0 X 0 0 0 William Daugherty Trustee 1.0 0.0 X 0 0 0 Judy K Roy Treasurer 40.0 0.0 X 274129 0 48334 Daniel J Stoker VP Student Affairs 40.0 0.0 X 176182 0 47358 Kathleen H Watland VPAA 40.0 0.0 X 204931 0 60888 Steve A Herendeen VP Enrollment Management 40.0 0.0 X 224358 0 83888 Brian W Engelhart VP/Exec Director Junction 36 40.0 0.0 X 143688 0 52470 Jeffrey S Leichty VP/CIO 40.0 0.0 X 143661 0 54174 Lori A Fincannon Dean College of Business 40.0 0.0 X 157620 0 49514 Michelle R Musolf AVP/Controller 40.0 0.0 X 148113 0 46606 Stephanos Mavromoustakos Associate Dean 40.0 0.0 X 165156 0 52857 2311198 0 677294 60 false true false Parkhurst Dining LLC 285 E Waterfront Drive STE 200 Homestead PA 15120 Dining Services 1866187 EAB Global Inc 2445 M Street W Washington DC 20037 Advertising 845872 My Footpath LLC 820 W Jackson Chicago IL 60607 Student Recruiting 723970 Jenzabar Inc 111 Huntington Avenue Suite 530 Boston MA 02199 Hosted Service 658331 Asher Agency Inc 535 W Wayne St Fort Wayne IN 46802 Advertising 464643 27 15500 8328 28083941 35438 28107769 TUITION & FEES 611710 91349822 91349822 RESIDENCE HALLS 611710 9860503 9860503 MISCELLANEOUS 611710 1460791 1191243 269548 0 0 0 0 102671116 9246020 150272 9095748 22026 22026 0 0 0 0 50396641 0 46224483 28363 4172158 -28363 4143795 4143795 8024 15500 13139 -5115 -5115 138801 79525 59276 59276 VENDING COMMISSION 611710 3418 3418 WELLNESS CENTER 611710 2339 2339 0 0 0 0 5757 144228618 102401568 419820 13299461 26700 26700 46669819 46669819 1348029 121369 1226660 26466933 20699593 5131397 635943 2136614 1671030 414246 51338 2975576 2327176 576903 71497 1954413 1528532 378921 46960 46525 46525 77224 77224 121200 121200 774569 774569 8017237 5014698 2930843 71696 3570500 194393 3346614 29493 360164 336213 22345 1606 2670715 96303 2574412 3004958 2908196 96762 0 645082 420914 138710 85458 177522 80303 89152 8067 1480954 1371300 109654 7418023 7112373 305650 505257 505257 ATHLETIC PROGRAMS 2606378 2606378 SUPPLIES 2129158 2129158 BAD DEBTS 1259072 1259072 STUDENT SUPPORT 1247509 1226557 20952 7365998 1271315 4612213 1482470 125056129 99071392 23379009 2605728 5350 5250 8827315 8064454 7383488 9212214 1690691 1861538 0 0 0 0 0 0 524276 515860 1948184 1690058 233823662 86039500 149193361 147784162 158129456 174663314 0 0 0 0 4946260 4036110 332648381 347832960 4477835 3641724 0 0 2338987 2541878 48004910 46007218 0 0 0 0 0 0 0 0 4825117 997787 59646849 53188607 X 237086381 236339390 35915151 58304963 273001532 294644353 332648381 347832960 X 19172489 2454009 16323 X false true true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 922402 X false 165897129 1005089 15174144 1020046 14367701 758821 165929794 160770232 3247492 13686758 1023795 10008151 775407 165897129 164687448 1248572 8427433 950445 11862733 780043 160770232 170407145 293529 -4161210 856763 229427 765826 164687448 137645960 223341 33618496 749330 116475 214847 170407145 0.8201 0.121 0.0589 false false 13366875 13366875 161470962 49322354 112148608 45142404 36717146 8425258 13843421 13843421 147784162 Federal Income Taxes ADVANCE FROM FEDERAL AGENCY 4730 OPERATING LEASE LIABILITIES 993057 997787 99369252 2454009 131013 2585022 96784230 774569 46669819 47444388 144228618 77726431 114690 114690 77611741 774569 46669819 47444388 125056129 Schedule D, Part X, Line 2 ASC 740 FOOTNOTE MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. Schedule D, Part III, Line 4 Collections of art - description of collections THE UNIVERSITY ART GALLERY, FRANCO D'AGOSTINO ART GALLERY, HOLDS WORKS OF ART FOR THE PUBLIC EXHIBITION. DONATED PIECES ARE DISPLAYED FOR VIEWERS TO ENJOY. ON OCCASION, TRAVELING COLLECTIONS ARE AVAILABLE TO VIEW FOR A LIMITED TIME. THE ART GALLERY PROVIDES CULTURE TO HELP ROUND A STUDENT'S FULL EDUCATION AT INDIANA INSTITUTE OF TECHNOLOGY. Schedule D, Part V, Line 4 Intended uses of endowment funds PERMANENTLY RESTRICTED NET ASSETS ARE RESTRICTED TO INVESTMENT IN PERPETUITY, THE INCOME OF WHICH IS EXPENDABLE TO SUPPORT ANY ACTIVITY OF THE INSTITUTE, SCHOLARSHIPS, FACULTY DEVELOPMENT, ENGINEERING AND SCIENCE CHAIR, SCHOOL OF BUSINESS, AND SCHOOL OF ENGINEERING ACTIVITIES. TEMPORARILY RESTRICTED NET ASSETS WERE RELEASED FROM DONOR RESTRICTIONS BY INCURRING EXPENSES SATISFYING THE RESTRICTED PURPOSES OR BY THE OCCURRENCE OF OTHER EVENTS SPECIFIED BY DONORS. BOARD-DESIGNATED OR QUASI-ENDOWMENT FUNDS ARE THOSE AVAILABLE FOR USE FOR PURPOSES DETERMINED BY BOARD ACTION. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 RENT EXPENSE - 22026 CHANGE IN VALUE OF PERPETUAL TRUST - 16323 SPECIAL EVENTS EXPENSE - 13139 COST OF GOODS SOLD - 79525 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements STUDENT AID - 46669819 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 RENT EXPENSE - 22026 SPECIAL EVENTS EXPENSE - 13139 COST OF GOODS SOLD - 79525 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements STUDENT AID - 46669819 true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY THE RACIALLY NONDISCRIMINATORY POLICY IS PUBLICIZED ON THE UNIVERSITY'S WEBSITE AND IN THE STUDENT HANDBOOK. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT INDIANA INSTITUTE OF TECHNOLOGY, INC. RECEIVED FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENTAL AGENCY IN THE FORM OF GRANTS FOR STUDENTS AND INSTITUTIONAL EXPENSES ALLOWABLE UNDER THE HIGHER EDUCATION EMERGENCY RELIEF FUNDING. true South Asia 0 13 Program Services STUDENT RECRUITMENT 412400 Central America and the Caribbean 0 0 Investments 15215245 0 13 0 0 0 13 15627645 0 15627645 true false false true true false Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds SCHOLARSHIPS ARE GIVEN TO INDIVIDUALS BASED ON NEED AND MERIT TO AID WITH TUITION AND FEES. SCHOLARSHIPS ARE A REDUCTION OF TUITION AND FEES AND PROVIDED DIRECTLY BY THE UNIVERSITY. RECORDS ARE MAINTAINED FOR ELIGIBILITY AND THE SELECTION CRITERIA. Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual; SOUTH ASIA-Accrual X X X X X X X true MCALLISTER & QUINN 1030 15th St NW Suite 590 W Washington DC 20005 CONSULTING false 121200 -121200 0 121200 -121200 CA CO CT DE DC FL GA AL HI ID IL IN IA KS KY LA ME AK MD MA MI MN MS MO MT NE NV NJ NM NY NC ND OH OK OR PA AZ RI SC SD TN TX UT VT VA AR WA WV WI WY GOLF OUTING 23524 15500 8024 914 12062 163 0 0 23524 15500 8024 914 12062 163 13139 -5115 true LOVE FORT WAYNE INC 3948 NEW VISION DRIVE D FORT WAYNE IN 46845 472474572 501(C)(3) 13500 SPONSORSHIP HABITAT FOR HUMANITY OF GREATER FORT WAYNE INC 2020 EAST WASHINGTON BOULEVARD 500 FORT WAYNE IN 46803 351687064 501(C)(3) 6700 SPONSORSHIP STARTEDUP FOUNDATION INC 1098 PEBBLE BROOK DR NOBLESVILLE IN 46062 825058263 501(C)(3) 6500 SPONSORSHIP 3 0 SCHOLARSHIPS FOR TUITION AND FEES 5127 46669819 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds SCHOLARSHIPS ARE GIVEN TO INDIVIDUALS BASED ON NEED AND MERIT TO AID WITH TUITION AND FEES. SCHOLARSHIPS ARE A REDUCTION OF TUITION AND FEES AND PROVIDED DIRECTLY BY THE UNIVERSITY. RECORDS ARE MAINTAINED FOR ELIGIBILITY AND THE SELECTION CRITERIA. X true true X X X X X false true false false false false false false false Karl W Einolf President 471411 0 79278 0 1302 0 100819 0 40593 0 693403 0 0 0 Jack Phlipot Associate Professor 120190 0 0 0 1179 0 11511 0 28282 0 161162 0 0 0 Judy K Roy Treasurer 267710 0 4565 0 1854 0 27454 0 20880 0 322463 0 0 0 Steve A Herendeen VP Enrollment Management 223536 0 0 0 822 0 23428 0 60460 0 308246 0 0 0 Daniel J Stoker VP Student Affairs 175372 0 0 0 810 0 17537 0 29821 0 223540 0 0 0 Kathleen H Watland VPAA 201613 0 0 0 3318 0 20763 0 40125 0 265819 0 0 0 Stephanos Mavromoustakos Associate Dean 164428 0 0 0 728 0 10323 0 42534 0 218013 0 0 0 Lori A Fincannon Dean College of Business 155828 0 0 0 1792 0 16137 0 33377 0 207134 0 0 0 Michelle R Musolf AVP/Controller 146982 0 0 0 1131 0 14615 0 31991 0 194719 0 0 0 Jeffrey S Leichty VP/CIO 142465 0 0 0 1196 0 15312 0 38862 0 197835 0 0 0 Brian W Engelhart VP/Exec Director Junction 36 138015 0 4562 0 1111 0 14372 0 38098 0 196158 0 0 0 Schedule J, Part I, Line 1a Housing allowance or residence for personal use A HOUSING ALLOWANCE IS PROVIDED FOR THE PRESIDENT AND REPORTED ON HIS W-2. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan DR. EINOLF HAS A DEFERRED COMPENSATION PLAN AS DESCRIBED IN SECTION 457(F). DURING 2024, AMOUNTS DEFERRED UNDER THE PLAN WERE $66,319. THERE WERE NO AMOUNTS PAID OUT DURING 2024. A INDIANA FINANCE AUTHORITY 2020 351602316 2020-12-30 21725000 CAPITAL PROJECTS AND REFINANCE 2018B SERIES false false false B INDIANA FINANCE AUTHORITY 351602316 2018-01-02 29045000 CAPITAL PROJECTS & PARTIAL REFINANCE false false false C INDIANA FINANCE AUTHORITY 2023 351602316 2023-04-01 14000000 CAPITAL PROJECTS false false false A 11510000 21725000 175000 1200000 2022 true false false true B 5525000 29045000 1659984 285106 27100000 2021 true false true true C 320000 14000000 150000 13850000 2024 false false false true A false false false false false false 0 0 0.0 false false 0 false true B false false false false false false 0 0 0.0 false false 0 false true C false false false false false false 0 0 0.0 false false 0 false true A true false false false false false 0 false false false 0 false false true B true false false false false true 0 false false false 0 false false true C true false false false false false 0 false false false 0 false false true A true B true C true 1 35438 Market value 0 false true false Schedule M, Part I COLUMN B THE AMOUNTS LISTED IN PART I, COLUMN B ARE BASED ON THE NUMBER OF CONTRIBUTORS FOR EACH TYPE OF PROPERTY CONTRIBUTED. Form 990, Part VI, Line 1b NON-INDEPENDENT VOTING MEMBERS KARL W. EINOLF AND JACK PHILPOT ARE PAID EMPLOYEES OF INDIANA INSTITUTE OF TECHNOLOGY AND ARE THEREFORE CONSIDERED NON-INDEPENDENT VOTING MEMBERS OF THE BOARD. Form 990, Part VI, Line 11b Review of form 990 by governing body AN INDEPENDENT CPA FIRM COMPILES INFORMATION FOR THE FORM 990 AND RELATED SCHEDULES USING INFORMATION PROVIDED BY THE ORGANIZATION. THE FORM AND RELATED SCHEDULES ARE REVIEWED BY MANAGEMENT AND PROVIDED TO ALL BOARD MEMBERS FOR THEIR REVIEW PRIOR TO FILING. AFTER BOARD APPROVAL, FORM 990 AND SCHEDULES ARE FILED WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy AN ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE IS SENT TO ALL INTERESTED PERSONS. IF A MATTER ARISES AT A MEETING OF THE BOARD OR ONE OF ITS COMMITTEES, EVERY TRUSTEE SHALL DISCLOSE ANY POSSIBLE CONFLICT OF INTEREST AT THE ONSET OF THE DISCUSSION. FURTHER, THE TRUSTEE SHALL EXCUSE HIMSELF OR HERSELF FROM DISCUSSIONS OF, AND ABSTAIN FROM VOTING ON, ALL SUCH MATTERS UNDER CONSIDERATION BY THE BOARD OF TRUSTEES OR ANY OF ITS COMMITTEES. THE MINUTES OF SUCH MEETINGS SHALL REFLECT THAT DISCLOSURE WAS MADE AND THAT THE TRUSTEE WITH A CONFLICT OR POSSIBLE CONFLICT WAS ABSENT FROM DISCUSSIONS AND VOTING. Form 990, Part VI, Line 15a Process to establish compensation of top management official AN ANNUAL COMPENSATION REVIEW IS PERFORMED FOR THE PRESIDENT AND KEY EMPLOYEES. FOR THE PRESIDENT, THE REVIEW INCLUDES A COMPARABILITY STUDY OF SIMILAR NOT-FOR-PROFIT COLLEGES AND THEIR ASSOCIATED COMPENSATION RANGES, AS WELL AS A REVIEW OF GOALS SET FORTH AND ACHIEVED. THE BOARD OF DIRECTORS OVERSEES THIS REVIEW. THE PRESIDENT PERFORMS THE REVIEWS FOR KEY EMPLOYEES. THIS INCLUDES A REVIEW OF GOALS SET FORTH AND ACHIEVED. THIS PROCESS IS PERFORMED ANNUALLY. Form 990, Part VI, Line 15b Process to establish compensation of other employees THERE IS AN ANNUAL PERFORMANCE REVIEW PERFORMED BY THE PRESIDENT FOR EMPLOYEES WHO ARE OFFICERS OR KEY EMPLOYEES. A COMPENSATION REVIEW IS COMPLETED AS PART OF THIS PROCESS. THE LAST REVIEW WAS DONE IN JUNE 2025. Form 990, Part VI, Line 19 Required documents available to the public THE FORM 990, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE ALL AVAILABLE UPON REQUEST. Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN VALUE OF PERPETUAL TRUST - 16323; Total - 16323; INDEPENDENT COLLEGES OF INDIANA 30 SOUTH MERIDAN INDIANAPOLIS IN 46204 310901001 EDUCATION IN 501(c)(3) NA false false false true false false false false false false false false false false false false false false false false Schedule R, Part V, Line 1o ICI employed a grant accountant who worked part-time on Indiana Tech's grants.