Adrian College
- Assets
- $149.0m
- Revenue
- $94.0m
- Investments
- $0.0
- Employees
- 1,250
- Location
- Adrian, MI
- Founding
- 00/0000
- Data as of
- 06/2020
- EIN
- 38-1357980
Organization Overview
Adrian College is located in Adrian, MI. The organization was established in 0000. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Adrian College employed 1,250 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Adrian College is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2020, Adrian College generated $94.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $90.1m during the year ending 06/2020. While expenses have increased by 3.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
ADRIAN COLLEGE IS A LIBERAL ARTS, PRIVATE COLLEGE OFFERING BACHELOR AND MASTER DEGREE PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION - THE EXEMPT PURPOSE OF THE SCHOOL IS THE TEACHING OF PRIMARILY UNDERGRADUATE HIGHER EDUCATION COURSES, ALONG WITH SOME GRADUATE COURSES, TO THE SCHOOL'S STUDENTS IN ORDER FOR THEM TO OBTAIN A LIBERAL ARTS BACHELOR OR MASTER DEGREE AND ENJOY A FULL COLLEGE EXPERIENCE.
ROOM AND BOARD - THE EXEMPT PURPOSE IS HOUSING AND FEEDING OF THE SCHOOL'S STUDENTS, ALLOWING THEM TO SUSTAIN RESIDENCY ON CAMPUS IN ORDER TO ATTEND CLASSES AND ACHIEVE A LIBERAL ARTS BACHELOR OR MASTER DEGREE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Docking President | Officer | 1 | $743,464 |
Jerry Wright VP For Business Affairs - CFO | Officer | 1 | $155,130 |
Frank Hribar VP For Enrollment Manageme | 1 | $147,573 | |
Ahsan Habib Professor Of Econmics | 1 | $118,720 | |
Andrea Milner VP For Academic Affairs | 1 | $108,642 | |
David Coy Professor Of Accountancy | 1 | $104,237 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Management Inc Campus Dining | 6/29/21 | $4,065,419 |
Anthology Inc Software | 6/29/21 | $734,554 |
Krieghoff-lenawee Co Construction Contractor | 6/29/21 | $426,689 |
The Collaborative Inc Architectural Contractor | 6/29/21 | $211,087 |
Bianco Travel & Tours Inc Transportation | 6/29/21 | $200,247 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,453,034 |
| Investment income | $3,221,600 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,085,079 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $178,790 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $94,047,786 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $42,290,893 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,249,169 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,245,772 |
| Pension plan accruals and contributions | $1,469,923 |
| Other employee benefits | $3,129,398 |
| Payroll taxes | $1,291,618 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,698 |
| Fees for services: Accounting | $143,231 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $93,956 |
| Fees for services: Other | $5,783,518 |
| Advertising and promotion | $42,486 |
| Office expenses | $1,514,035 |
| Information technology | $1,246,141 |
| Royalties | $0 |
| Occupancy | $3,677,600 |
| Travel | $1,538,048 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,601,537 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,319,992 |
| Insurance | $605,735 |
| All other expenses | $0 |
| Total functional expenses | $90,125,599 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,333,980 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,621,190 |
| Accounts receivable, net | $4,465,829 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,171,037 |
| Inventories for sale or use | $733,151 |
| Prepaid expenses and deferred charges | $925,928 |
| Investments—publicly traded securities | $33,635,547 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $24,366,861 |
| Total assets | $148,979,647 |
| Accounts payable and accrued expenses | $5,617,782 |
| Grants payable | $0 |
| Deferred revenue | $388,250 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $47,391,334 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,423,118 |
| Total liabilities | $55,820,484 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $93,159,163 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Adrian College has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
S Gary Spicer Sr Foundation Grosse Pointe, MI PURPOSE: GENERAL SUPPORT | $10,000 |
Myer & Lois Franklin Charitable Tr Jackson, MI PURPOSE: SCHOLARSHIP | $2,000 |
Joanne Nicolay Foundation Grosse Pointe, MI PURPOSE: GENERAL SUPPORT | $2,000 |
Bell Trust Tecumseh, MI PURPOSE: GENERAL SUPPORT | $1,000 |
Endowment Analysis
| Beg. Balance | $36,185,869 |
| Earnings | $8,913,228 |
| Admin Expense | $87,838 |
| Net Contributions | $1,449,481 |
| Other Expense | -$1,345,979 |
| Grants | $1,580,000 |
| Ending Balance | $46,226,719 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oberlin College Oberlin, OH | $1,432,118,020 | $305,531,376 |
Denison University Granville, OH | $1,502,847,785 | $275,909,448 |
Indiana Wesleyan University Marion, IN | $535,078,455 | $212,201,058 |
Depauw University Greencastle, IN | $1,044,669,443 | $170,125,801 |
Hillsdale College Hillsdale, MI | $1,230,310,896 | $287,422,849 |
Concordia University Inc Mequon, WI | $163,946,113 | $168,516,078 |
College Of Wooster Wooster, OH | $694,683,910 | $184,916,713 |
Hope College Holland, MI | $493,947,019 | $161,551,169 |
Ohio Northern University Ada, OH | $417,060,447 | $166,164,613 |
The Cedarville University Cedarville, OH | $257,715,774 | $182,725,706 |
Kenyon College Gambier, OH | $1,026,131,356 | $159,022,032 |
Marian University Indianapolis, IN | $323,995,376 | $176,218,802 |