Franklin College Of Indiana in Franklin, Indiana (IN)

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Franklin College Of Indiana
Employer Identification Number (EIN)350868086
Name of OrganizationFranklin College Of Indiana
Address101 Branigin Blvd, Franklin, IN 46131-2598
ActivitiesPrivate school, School, college, trade school, etc.
SubsectionEducational Organization
Ruling Date04/1937
DeductibilityContributions are deductible
FoundationSchool
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$145,308,639
Amount of Income$64,783,176
Form 990 Revenue Amount$40,355,206
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Undergraduate College (4-year)


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Amount of income in 2014: $64,783,176
Franklin College Of Indiana: 

 $64,783,176
Other organizations performing similar types of work: 

 $66,253,053

Assets in 2014: $145,308,639
This organization: 

 $145,308,639
Other organizations performing similar types of work: 

 $118,174,264

Expenses in 2013: $40,589,786
This organization: 

 $40,589,786
Other organizations performing similar types of work: 

 $52,716,293

Income to expenses ratio in 2013: 1.6
This organization: 

 1.6
Other organizations performing similar types of work: 

 1.2

Expenses allocated to program services in 2007: 88.9%
Franklin College Of Indiana: 

 88.9%
Other organizations performing similar types of work: 

 83.2%

Number of employees in 2013: 974
Franklin College Of Indiana: 

 974
Other organizations performing similar types of work: 

 1,113

Employees paid over $100,000 in 2013: 0.8%
This organization: 

 0.8%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 8.1%
Franklin College Of Indiana: 

 8.1%
Other organizations performing similar types of work: 

 4.4%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?NoNo
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?NoNo
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?YesYes
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYes
Did the organization obtain separate, independent audited financial statements for the tax year?YesYes
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?YesNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?YesYes
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?YesYes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?YesYes
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?YesYes
Did the organization receive more than $25,000 in non-cash contributions?YesYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?YesYes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?YesNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 10961,5341,485
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return1,020974
Did the organization file all required federal employment tax returns?YesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?YesYesYes
Has it filed a Form 990-T for this year?YesYes
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?YesYes
Did the organization notify the donor of the value of the goods or services provided?YesYes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$1,016,056$813,392
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$243,654$219,464
Total number of individuals who received more than $100,000 of reportable compensation from the organization75
Total number of independent contractors who received more than $100,000 of compensation from the organization103
Statement of Revenue
201120122013
Total revenue$38,347,324$42,773,424$39,896,036
Contributions, Gifts, Grants and Other Similar Amounts$5,147,249$9,124,775$3,246,413
Program Service Revenue$30,830,842$31,097,003$32,017,848
611600$25,420,428$26,133,860
611600$5,676,575$5,883,988
All other program service revenue$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$1,519,202$1,824,914$2,089,937
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$0$0$0
Net rental income$45,292$51,120$44,886
Gross rents (Real / Personal)$53,458 / $0$57,593 / $0$53,992 / $0
Less: rental expenses (Real / Personal)$8,166 / $0$6,473 / $0$9,106 / $0
Rental income or (loss) (Real / Personal)$45,292 / $0$51,120 / $0$44,886 / $0
Net gain/loss from sales of assets other than inventory$739,531$610,370$2,440,559
Gross amount from sales of assets other than inventory (Securities / Other)$63,296,584 / $0$21,992,763 / $0$29,581,931 / $0
Less: cost or other basis and sales expenses (Securities / Other)$62,557,053 / $0$21,382,393 / $0$27,141,372 / $0
Gain or (loss) (Securities / Other)$739,531 / $0$610,370 / $0$2,440,559 / $0
Net income/loss from fundraising events$-11,399$-14,275$-8,510
Gross income from fundraising events$9,335$10,051$12,760
Less: direct expenses$20,734$24,326$21,270
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$0$0$0
Miscellaneous Revenue$76,607$79,517$64,903
900099$78,517$64,128
Fitness and Recreational Sports Centers $1,000$775
All other revenue$0$0
Statement of Functional Expenses
201120122013
Total functional expenses$39,001,499$39,735,637$40,589,786
Grants and other assistance to domestic organizations and domestic governments$0$0
Grants and other assistance to domestic individuals$12,163,595$12,502,135
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$1,185,453$1,296,232$1,048,927
Compensation not included above, to disqualified persons$239,896$241,014
Other salaries and wages$10,957,687$10,602,404$10,803,811
Pension plan accruals and contributions$1,040,509$1,235,053
Other employee benefits$689,516$878,571
Payroll taxes$842,525$826,233$843,147
Fees for services (non-employees)
Management$0$0
Legal$8,004$35,746
Accounting$102,440$98,730
Lobbying$0$0
Professional fundraising services$0$89,525$0
Investment management fees$221,988$216,231
Other$2,430,120$2,386,486
Advertising and promotion$21,808$53,080
Office expenses$661,447$660,760
Information technology$147,346$115,163
Royalties$0$0
Occupancy$0$0
Travel$271,863$231,603
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$239,784$231,603
Interest$115,445$99,371
Payments to affiliates$0$0
Depreciation, depletion, and amortization$2,974,147$3,022,849
Insurance$134,272$161,564
Other expenses$3,393,049$3,234,895
Other expenses$780,740$968,024
Other expenses$184,673$229,063
Other expenses$231,440$219,669
Other expenses$869,161$1,072,291
Balance Sheet
201120122013
Total assets$140,934,328$139,645,264$141,309,216
Cash - non-interest-bearing$407,508$384,755
Savings and temporary cash investments$2,757,341$3,863,035
Pledges and grants receivable, net$1,078,122$1,212,787
Accounts receivable, net$443,429$504,626
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$0$0
Inventories for sale or use$256,911$258,202
Prepaid expenses and deferred charges$563,613$440,937
Land, buildings, and equipment: cost or other basis$50,749,008$49,063,842
Investments - publicly traded securities$48,281,472$49,023,033
Investments - other securities$30,853,841$32,557,575
Investments - program-related$3,862,998$3,610,043
Intangible assets$0$0
Other assets$391,021$390,381
Total liabilities$19,605,412$17,818,733$17,670,315
Accounts payable and accrued expenses$1,621,556$1,789,229
Grants payable$0$0
Deferred revenue$315,408$287,890
Tax-exempt bond liabilities$8,550,000$8,275,000$7,850,000
Escrow or custodial account liability$164,344$144,583
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$1,153,638$0$0
Unsecured notes and loans payable to unrelated third parties$5,432,440$4,543,426$4,474,500
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$2,898,999$3,124,113
Total net assets or fund balances$121,328,916$121,826,531$123,638,901
Unrestricted net assets$66,152,684$68,617,734
Temporarily restricted net assets$14,607,196$14,772,300
Permanently restricted net assets$41,066,651$40,248,867
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:A school described in section 170(b)(1)(A)(ii)
Number of organizations supported0
Sum of amounts of support$0
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$29,023,799$21,574,349$27,587,395$29,816,793$28,943,057$37,984,657$33,199,715$36,244,416
Contributions, gifts, grants, and similar amounts received$6,804,355$3,700,652$8,111,814$6,294,609$5,091,508$9,012,568$3,609,986$2,732,429
Contributions to donor advised funds$0$0
Direct public support$6,584,134$3,331,259$7,830,795$6,027,422$4,837,933$8,775,197$3,109,481$2,349,624
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$220,221$369,393$281,019$267,187$253,575$237,371$500,505$382,805
Program service revenue including government fees and contracts$17,354,365$18,085,268$19,014,566$20,369,174$21,107,767$22,484,720$23,249,018$26,233,991
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$367,780$108,617$49,603$38,945$67,508$45,550$47,684$283,013
Dividends and interest from securities$3,633,826$2,010,441$1,507,955$1,432,602$2,027,145$2,697,613$2,482,301$3,694,207
Net rental income or (loss)$-7,719$-8,096$7,212$14,346$18,332$13,450$29,520$41,258
Gross rents$85,471$56,084$37,725$40,350$25,392$24,150$48,089$50,113
Less: rental expenses$93,190$64,180$30,513$26,004$7,060$10,700$18,569$8,855
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$766,876$-2,487,421$-1,209,876$1,547,370$518,795$3,570,062$3,442,332$3,180,678
Gross amount from sales of assets other than inventory$52,815,483$43,483,981$26,880,152$47,517,989$47,985,399$88,587,236$18,487,857$45,612,174
Less: cost or other basis and sales expenses$52,048,607$45,971,402$28,090,028$45,970,619$47,466,604$85,017,174$15,045,525$42,431,496
Net income or (loss) from special events and activities$0$0$0$0$0$12,030$-10,156$-11,058
Gross revenue$0$0$0$0$0$37,863$7,583$6,840
Less: direct expenses other than fundraising expenses$0$0$0$0$0$25,833$17,739$17,898
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$104,316$164,888$106,121$119,747$112,002$148,664$349,030$89,898
Total expenses$26,124,321$27,911,835$27,877,076$28,465,180$29,482,580$30,374,360$31,055,854$33,878,826
Program services$21,332,173$22,780,162$23,301,857$24,944,349$25,861,542$26,775,847$27,578,558$30,107,117
Management and general$2,608,942$2,874,896$2,629,943$2,205,238$2,261,250$2,329,020$2,183,229$2,463,283
Fundraising$2,183,206$2,256,777$1,945,276$1,315,593$1,359,788$1,269,493$1,294,067$1,308,426
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$112,840,634$102,432,425$107,015,816$113,158,115$115,841,853$123,843,587$131,741,430$129,710,718
Excess or (deficit) for the year$2,899,478$-6,337,486$-289,681$1,351,613$-539,523$7,610,297$2,143,861$2,365,590
Net assets or fund balances at beginning of year$115,224,882$112,840,634$102,432,425$107,015,816$113,158,115$115,841,853$123,843,587$131,741,430
Other changes in net assets or fund balances$-5,283,726$-4,070,723$4,873,072$4,790,686$3,223,261$391,437$5,753,982$-4,396,302
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$33,878,826$30,107,117$2,463,283$1,308,426
Grants paid from donor advised funds$0
Other grants and allocations$345,920
Specific assistance to individuals$8,805,551
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$1,193,668$516,079$511,227$166,362
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$8,943,866$8,032,599$376,424$534,843
Pension plan contributions not included above$784,485$701,986$35,665$46,834
Employee benefits not included above$402,576$347,479$36,924$18,173
Payroll taxes$696,962$600,775$50,155$46,032
Professional fundraising fees$19,391$0$0$19,391
Accounting fees$81,943$0$81,943$0
Legal fees$61,893$0$61,893$0
Supplies$193,687$145,604$22,566$25,517
Telephone$33,877$22,760$5,675$5,442
Postage and shipping$152,556$83,741$20,033$48,782
Occupancy$3,484,162$3,307,850$148,031$28,281
Equipment rental and maintenance$427,090$307,233$119,273$584
Printing and publications$646,751$489,560$15,152$142,039
Travel$484,915$429,715$15,465$39,735
Conferences, conventions, and meetings$0$0$0$0
Interest$87,112$79,996$7,116$0
Depreciation, depletion, etc.$3,037,683$2,904,656$108,177$24,850
Other expenses not covered above$3,994,738$2,985,613$847,564$161,561
Balance Sheets
20002001200220032004200520062007
Total assets$127,344,861$118,105,521$121,817,353$135,852,729$136,336,292$141,901,046$147,139,406$146,216,383
Cash - non-interest-bearing$1,856,539$1,432,505$4,170,042$4,833,847$3,552,249$4,687,140$2,139,291$125,488
Savings and temporary cash investments$7,285,951$1,930,479$1,376,553$1,672,280$2,049,494$1,027,621$448,724$3,097,267
Accounts receivable less allowance for doubtful accounts$2,450,027$2,594,920$2,749,587$2,703,887$2,725,766$2,996,730$3,271,082$3,552,281
Pledges receivable less allowance for doubtful accounts$2,670,190$2,808,362$3,656,869$2,384,641$632,610$3,502,434$311,759$484,213
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Inventories for sale or use$88,598$83,609$75,570$74,070$75,990$75,418$77,385$50,599
Prepaid expenses and deferred charges$21,927$184,324$78,070$70,410$68,433$186,607$439,788$456,184
Investments - publicly-traded securities$81,736,908$50,440,019
Investments - other securities$69,467,059$62,151,400$59,233,459$66,423,367$69,391,613$68,494,547$0$30,634,816
Investments - land, buildings, and equipment less accumulated depreciation$1,718,959$1,418,959$4,685,300$1,552,262$1,552,262$6,781,448$5,241,123$6,054,161
Investments - other$560,813$627,023$664,478$672,499$781,693$830,189$398,983$340,327
Land, buildings, and equipment less accumulated depreciation$41,087,923$44,744,565$45,005,550$55,242,690$55,293,768$53,116,860$52,882,672$50,799,699
Other assets, including program-related investments$136,875$129,375$121,875$222,776$212,414$202,052$191,691$181,329
Total liabilities$14,504,227$15,673,096$14,801,537$22,694,614$20,494,439$18,057,459$15,397,976$16,505,665
Accounts payable and accrued expenses$2,682,809$2,874,392$795,386$2,987,813$833,762$2,793,289$2,642,336$2,710,427
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$366,910$342,397$9,040,873$199,488$204,995$226,471$289,389$263,543
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$15,000,000$12,400,000$11,900,000$9,400,000$9,225,000
Mortgages and other notes payable$10,081,387$9,856,339$1,923,866$3,183,321$5,746,207$1,976,455$1,825,165$3,288,194
Other liabilities$1,373,121$2,599,968$3,041,412$1,323,992$1,309,475$1,161,244$1,241,086$1,018,501
Total liabilities and net assets/fund balances$127,344,861$118,105,521$121,817,353$135,852,729$136,336,292$141,901,046$147,139,406$146,216,383
Total net assets or fund balances$112,840,634$102,432,425$107,015,816$113,158,115$115,841,853$123,843,587$131,741,430$129,710,718
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$29,023,799$21,574,349$27,587,395$29,816,793$28,943,057$37,984,657$33,199,715$36,244,111
Total revenue, gains, and other support per audited financial statements$23,837,301$20,623,667$28,103,504$22,336,763$21,266,920$30,606,606$30,812,419$22,931,384
Other expenses$-11,431,897$-11,078,563$-2,514,126$-2,658,226$-4,694,675$424,979$5,783,508$-4,375,779
Net unrealized gains on investments$0$0$0$0$0$391,436$5,753,982$-4,395,997
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$-11,431,897$-11,078,563$-2,514,126$-2,658,226$-4,694,675$33,543$29,526$20,218
Other revenue$-6,245,399$-10,127,881$-3,030,235$4,821,804$2,981,462$7,803,030$8,170,804$8,936,948
Investment expenses$0$0$0$0$0$181,191$177,159$166,104
Other$-6,245,399$-10,127,881$-3,030,235$4,821,804$2,981,462$7,621,839$7,993,645$8,770,844
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$26,124,321$27,911,835$27,877,076$28,465,180$29,482,580$30,374,360$31,055,854$33,878,826
Total expenses and losses per audited financial statements$17,298,959$20,766,449$20,710,596$20,563,386$21,404,509$22,604,873$22,914,576$24,962,096
Other revenue$-6,148,171$-7,007,840$-7,055,528$-7,780,582$-7,917,936$33,543$29,526$20,218
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$-6,148,171$-7,007,840$-7,055,528$-7,780,582$-7,917,936$33,543$29,526$20,218
Other expenses$2,677,191$137,546$110,952$121,212$160,135$7,803,030$8,170,804$8,936,948
Investment expenses$0$0$0$0$0$181,191$177,159$166,104
Other$2,677,191$137,546$110,952$121,212$160,135$7,621,839$7,993,645$8,770,844
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$190,455$99,773$3,067
40$125,833$34,504$6,025
40$126,533$34,504$3,583
40$108,083$38,579$598
40$87,492$25,447$0
40$89,197$15,796$0
40$82,542$18,730$4,428
40$84,333$14,166$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings38
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?Yes
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 2006646
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$6,920$7,193,436$26,311,326
Program service revenue
Program service revenue 1000000$000$0$21,099,089
Program service revenue 2000000$000$0$5,134,902
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$283,013$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$3,694,207$0
Net rental income or (loss) from real estate
debt-financed propertyLessors of other real estate property$5,72000$0$0
not debt-financed property000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$35,538$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$3,180,678$0
Net income or (loss) from special events000000$000$0$-11,363
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenueFitness and recreational sports centers$1,20000$0$88,698
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$76,645$28,118$0
$83,459$19,952$0
$74,400$22,162$0
$80,267$16,203$0
$81,190$14,419$0
Total number of other employees paid over $50,00078
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isSchool
Support Schedule
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Unrelated Trade or Business Income (for 2009)
IncomeExpensesNet
Total$-200,389$6,897$-207,286
Gross receipts or sales less returns and allowances$875$0$0
Cost of goods sold$0$0$0
Gross profit$875$0$0
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$-212,476$0$-212,476
Rent income$11,212$6,897$4,315
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2009)
Total deductions$591
Compensation of officers, directors, and trustees$0
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$4,920
Charitable contributions$0
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$271
Unrelated business taxable income$-212,477
Unrelated business taxable income before net operating loss deduction$-212,477
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$-212,477
Specific deduction$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Depauw UniversityPO BOX 37, Greencastle, IN 46135-0037IN1930-01$451,073,068
2Wabash College301 W Wabash Avenue, Crawfordsville, IN 47933-2417IN1941-11$259,056,134
3Marian University3200 Cold Spring Rd, Indianapolis, IN 46222-1960IN1946-03$120,153,174
4Hanover College TrusteesPO BOX 108, Hanover, IN 47243-0108IN1953-04$113,157,213
5Earlham College801 National Rd W, Richmond, IN 47374-4021IN1935-03$111,953,458
6Saint Marys College, The Northern Trust Company153 Lemans Hall, Notre Dame, IN 46556-5001IN1946-03$109,496,423
7Trine University Inc, Society Of Women Engineers1 Universiy Ave, Angola, IN 46703IN1948-04$74,556,807
8Anderson University Inc1100 E 5th St, Anderson, IN 46012-3462IN1926-09$74,227,812
9Manchester University Inc604 E College Ave, N Manchester, IN 46962-1276IN1949-01$70,710,692
10University Of Saint Francis Of Fort Wayne Indiana Inc2701 Spring St, Fort Wayne, IN 46808-3939IN1946-03$67,723,251
11Franklin College Of Indiana101 Branigin Blvd, Franklin, IN 46131-2598IN1937-04$64,783,176
12Bethel College Inc1001 Bethel Cir, Mishawaka, IN 46545-2232IN1948-10$44,875,988
13Huntington University Inc2303 College Ave, Huntington, IN 46750-1237IN1945-05$42,490,214
14Saint Josephs CollegeHwy 231 South, Rensselaer, IN 47978IN1938-04$35,978,094
15Oakland City University138 N Lucretia St, Oakland City, IN 47660-1038IN1934-06$28,357,883
16Talladega College627 Battle St W, Talladega, AL 35160-2354AL1945-05$18,799,314
17Breakthrough Bible Institute College Inc4305 St Barnabas Rd 402 4305 St Barnabas Rd, Temple Hill, MD 20748MD2007-03$408,000
18Campbell Bible CollegePO BOX 12567, Charleston, SC 29422-2567SC2007-07$8,700
19Martin College11469 Olive Blvd Pmb 116, St Louis, MO 63141-7108MO1999-05$0
20Williams Baptist College60 W Fulbright Ave, Walnut Ridge, AR 72476-9000AR2002-06$0
Number of organizations performing similar types of work
Alabama8
Arkansas8
California16
Connecticut5
District of Columbia2
Florida11
Georgia13
Iowa15
Idaho2
Illinois21
Indiana16
Kansas8
Kentucky10
Louisiana2
Massachusetts28
Maryland7
Maine6
Michigan14
Minnesota9
Missouri11
Mississippi5
Montana2
North Carolina18
North Dakota2
Nebraska6
New Hampshire7
New Jersey8
New Mexico4
Nevada1
New York33
Ohio26
Oklahoma3
Oregon3
Pennsylvania36
Rhode Island1
South Carolina10
South Dakota4
Tennessee12
Texas9
Virginia12
Vermont5
Washington2
Wisconsin11
West Virginia6
International2
Total440

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