Adrian College
- Assets
- $156.5m
- Revenue
- $97.5m
- Investments
- $0.0
- Employees
- 1,138
- Location
- Adrian, MI
- Founding
- 00/0000
- Data as of
- 06/2022
- 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 06/2022, Adrian College employed 1,138 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 06/2022, Adrian College generated $97.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $99.1m during the year ending 06/2022. While expenses have increased by 4.1% per year over the past 7 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
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:
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 |
|---|---|---|---|
Gregory Adams Trustee | Trustee | 1 | $0 |
Thomas Anastos Trustee | Trustee | 1 | $0 |
Charles Baer Trustee | Trustee | 1 | $0 |
Michael Bell Trustee | Trustee | 1 | $0 |
James Berryman Trustee | Trustee | 1 | $0 |
Harold Craft Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Krieghoff-lenawee Co Construction Contractor | 6/29/22 | $2,802,601 |
Sodexo Management Inc Campus Dining | 6/29/22 | $5,936,811 |
Adrian Electric & Generato Co Electrical Contractor | 6/29/22 | $334,784 |
Us Utility Contractor Co Electrical Contractor | 6/29/22 | $285,942 |
Bianco Travel & Tours Inc Transportation | 6/29/22 | $411,675 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,097,992 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,213,929 |
| Noncash contributions included in lines 1a–1f | $132,196 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,311,921 |
| Total Program Service Revenue | $84,007,779 |
| Investment income | $3,490,135 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $316,447 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $190,271 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $97,509,860 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $43,261,113 |
| Grants and other assistance to Foreign Orgs/Individuals | $2,899,516 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $948,845 |
| Compensation of current officers, directors, key employees. | $426,980 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,479,798 |
| Pension plan accruals and contributions | $1,296,682 |
| Other employee benefits | $3,497,625 |
| Payroll taxes | $1,285,284 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $152,778 |
| Fees for services: Accounting | $163,176 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $80,214 |
| Fees for services: Other | $7,017,351 |
| Advertising and promotion | $65,251 |
| Office expenses | $1,828,907 |
| Information technology | $718,437 |
| Royalties | $0 |
| Occupancy | $4,545,180 |
| Travel | $2,324,518 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,077,510 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,111,925 |
| Insurance | $614,530 |
| All other expenses | $0 |
| Total functional expenses | $99,085,842 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,109,758 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,362,271 |
| Accounts receivable, net | $2,241,722 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $844,041 |
| Inventories for sale or use | $668,874 |
| Prepaid expenses and deferred charges | $744,680 |
| Net Land, buildings, and equipment | $79,221,817 |
| Investments—publicly traded securities | $38,517,276 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23,766,355 |
| Total assets | $156,476,794 |
| Accounts payable and accrued expenses | $5,973,733 |
| Grants payable | $0 |
| Deferred revenue | $2,836,170 |
| 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 | $46,557,362 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $510,759 |
| Total liabilities | $55,878,024 |
| Net assets without donor restrictions | $24,632,737 |
| Net assets with donor restrictions | $75,966,033 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $156,476,794 |