Civic Intelligence

Trine University Amended

990 • Fiscal year 2015 • EIN 35-0715530

May 01, 2014 to Apr 30, 2015 • Filed on Sep 15, 2015

1 University AvenueSuiteAngola, IN 46703-1764

(260) 665-4105

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

51st percentile

0.33x

Higher debt load relative to assets than 51% of similar nonprofits.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2015

Liabilities / Revenue

53rd percentile

0.56x

Higher debt load relative to revenue than 53% of similar nonprofits.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2015

Net Margin

71st percentile

12%

Higher net margin than 71% of similar nonprofits.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2015

Top Officer Pay

61st percentile

$599,947

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2015

Asset Growth

79th percentile

9.3%

Faster asset growth than 79% of similar nonprofits.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2014 to 2015

Revenue Growth

76th percentile

13%

Faster revenue growth than 76% of similar nonprofits.

2015 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2014 to 2015

Assets

Up

$137,026,244

Up $11,695,680 (+9.3%) from 2014

Net Assets

Up

$92,250,032

Up $9,225,498 (+11%) from 2014

Liabilities

Up

$44,776,212

Up $2,470,182 (+5.8%) from 2014

Revenue

Up

$79,910,010

Up $9,220,661 (+13%) from 2014

Expenses

Up

$70,234,590

Up $9,304,133 (+15%) from 2014

Net Income

Down

$9,675,420

Down $83,472 (-0.9%) from 2014

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600M$400M$200M$0Assets 2011: $99,465,204Liabilities 2011: $41,845,003Net Assets 2011: $57,620,2012011Assets 2012: $106,840,015Liabilities 2012: $41,888,719Net Assets 2012: $64,951,2962012Assets 2014: $125,330,564Liabilities 2014: $42,306,030Net Assets 2014: $83,024,5342014Assets 2015: $137,026,244Liabilities 2015: $44,776,212Net Assets 2015: $92,250,0322015Assets 2016: $153,934,162Liabilities 2016: $43,988,095Net Assets 2016: $109,946,0672016Assets 2017: $172,334,925Liabilities 2017: $43,934,825Net Assets 2017: $128,400,1002017Assets 2018: $189,934,053Liabilities 2018: $49,562,092Net Assets 2018: $140,371,9612018Assets 2019: $194,861,077Liabilities 2019: $45,983,691Net Assets 2019: $148,877,3862019Assets 2020: $197,072,495Liabilities 2020: $39,722,324Net Assets 2020: $157,350,1712020Assets 2021: $221,741,150Liabilities 2021: $37,810,168Net Assets 2021: $183,930,9822021Assets 2022: $235,561,349Liabilities 2022: $37,569,229Net Assets 2022: $197,992,1202022Assets 2023: $299,322,114Liabilities 2023: $42,378,905Net Assets 2023: $256,943,2092023Assets 2024: $364,746,007Liabilities 2024: $41,020,307Net Assets 2024: $323,725,7002024Assets 2025: $440,529,917Liabilities 2025: $40,891,783Net Assets 2025: $399,638,1342025

Highlighted filing

2015

Assets$137,026,244
Liabilities$44,776,212
Net Assets$92,250,032

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300M$200M$100M$0Expenses 2011: $53,094,7992011Expenses 2012: $56,597,8522012Revenue 2014: $70,689,349Expenses 2014: $60,930,457Net Income 2014: $9,758,8922014Revenue 2015: $79,910,010Expenses 2015: $70,234,590Net Income 2015: $9,675,4202015Revenue 2016: $97,716,642Expenses 2016: $78,651,617Net Income 2016: $19,065,0252016Revenue 2017: $98,896,297Expenses 2017: $82,922,745Net Income 2017: $15,973,5522017Revenue 2018: $101,478,461Expenses 2018: $91,749,242Net Income 2018: $9,729,2192018Revenue 2019: $103,159,612Expenses 2019: $96,905,593Net Income 2019: $6,254,0192019Revenue 2020: $113,182,460Expenses 2020: $100,492,245Net Income 2020: $12,690,2152020Revenue 2021: $121,889,140Expenses 2021: $107,424,778Net Income 2021: $14,464,3622021Revenue 2022: $136,639,555Expenses 2022: $116,503,232Net Income 2022: $20,136,3232022Revenue 2023: $187,400,612Expenses 2023: $130,306,232Net Income 2023: $57,094,3802023Revenue 2024: $211,620,138Expenses 2024: $150,968,710Net Income 2024: $60,651,4282024Revenue 2025: $232,796,308Expenses 2025: $159,357,504Net Income 2025: $73,438,8042025

Highlighted filing

2015

Revenue$79,910,010
Expenses$70,234,590
Net Income$9,675,420
Jump To
Filing Snapshot
Filing Period
May 1, 2014 to Apr 30, 2015
Signed
Sep 15, 2015
Return Version
2014v5.0
Gross Receipts
$82,627,326
Mission and Program Overview

Mission

Trine university promotes intellectual and personal development through professionally focused learning opportunities, preparing graduates to succeed, lead, and serve. To achieve this mission, trine undergraduate and graduate students receive personal attention through small classes and excellent teaching.

Trine, an internationally recognized private, independent, co-educational institution offers degrees in various programs including engineering, math, science and business.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$77,349,546$86,950,088▲ $9,600,542
Investments in Publicly Traded Securities$21,393,778$24,046,542▲ $2,652,764
Savings and Temporary Cash Investments$12,497,162$15,192,550▲ $2,695,388
Pledges and Grants Receivable$9,459,061$5,817,531▼ $3,641,530
Accounts Receivable$808,521$796,373▼ $12,148
Prepaid Expenses and Deferred Charges$236,609$300,664▲ $64,055
Inventories for Sale or Use$149,594$168,268▲ $18,674
Other Notes and Loans Receivable, Net$55,086$55,086→ $0
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$125,330,564$137,026,244▲ $11,695,680
Other Assets Total$3,381,207$3,699,142▲ $317,935
Liabilities
Tax Exempt Bond Liabilities$35,065,000$32,642,250▼ $2,422,750
Accounts Payable and Accrued Expenses$3,377,660$6,243,434▲ $2,865,774
Deferred Revenue$2,779,806$3,179,910▲ $400,104
Mortgage Notes Payable Secured by Investment Property$44,125$1,404,307▲ $1,360,182
Other Liabilities$1,039,439$1,306,311▲ $266,872
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$42,306,030$44,776,212▲ $2,470,182
Net Assets / Fund Balance
Unrestricted Net Assets$39,580,317$50,920,103▲ $11,339,786
Temporarily Rstr Net Assets$27,358,962$22,933,989▼ $4,424,973
Permanently Rstr Net Assets$16,085,255$18,395,940▲ $2,310,685
Total Net Assets Fund Balance$83,024,534$92,250,032▲ $9,225,498
Total Liabilities and Net Assets / Fund Balance$125,330,564$137,026,244▲ $11,695,680

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$67,655,725$27,799,304$95,455,029
Other Land Buildings$12,140,846$6,342,607$18,483,453
Equipment$4,304,424$7,126,605$11,431,029
Land$2,849,093-$2,849,093

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$26,798,380$2,388,756▲ $942,828-$29,288,553
2013$25,134,528$698,781▲ $1,861,744-$26,798,380
2012$22,664,187$423,550▲ $2,794,483-$25,134,528
2011$23,181,981$745,503▼ $436,474-$22,664,187
2010$20,979,317$623,183▲ $2,352,892-$23,181,981
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Earl D Brooks IiPresidentFT$383,973$215,974$599,947
Mr Kent StuckyVP of AdvancementFT$135,310$33,848$169,158
Mr Stuart JonesVP of Enrollment ManagementFT$138,537$28,625$167,162
Mr Michael BockSr. Vice PresidentFT$123,655$27,441$151,096
Mr Max BaumgartnerDean, School of Health ScienceFT$119,595$27,448$147,043
Mr Vinrod SharmaDean, School of EngineeringFT$123,006$15,062$138,068
Mr John ShannonVP Academic AffairsFT$118,346$17,789$136,135
Dr John WagnerProfessor, Chemical EngineerinFT$110,204$17,688$127,892
Mrs Jody a GreerV.p. FinanceFT$106,791$18,692$125,483

Board Members and Trustees

NameTitle
Mr Rick JamesBoard Chair
Mr Jack ShawBoard Vice-chair
Dr Alan Mcgee MdBoard Member
Dr James BockBoard Member
Dr Jerry AllenBoard Member
Dr John HesterBoard Member
Dr John PittmanBoard Member
Dr Keith BusseBoard Member
Dr Lawrence FranksBoard Member
Dr Sherri TrineBoard Member
Dr Tomas FurthBoard Member
Dr William GettigBoard Member
Dr Wyatt Weaver MdBoard Member
Mr Clifford RyanBoard Member
Mr Dennis KruseBoard Member
Mr Ian RollandBoard Member
Mr James FabianiBoard Member
Mr Keith TurnerBoard Member
Mr Larry LeeBoard Member
Mr Larry ReinersBoard Member
Mr Louis HoltzBoard Member
Mr Michael EikenberryBoard Member
Mr Mitchel RhoadsBoard Member
Mr Ralph TrineBoard Member
Mr Richard OederBoard Member
Mr Stephen LahoodBoard Member
Mrs Elizabeth RooneyBoard Member
Ms Theresa WaglerBoard Member
Mr Lynn BrooksBoard Secretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Jim Ingledue Construction INCConstruction319 POKAGON TRAIL SUITE A, Angola, IN 46703$4,408,760
Bon Appetit Management CompanyFood Service91337 COLLECTIONS DRIVE, Chicago, IL 60693$4,107,498
Jk Ice Ventures INCConstruction319 POKAGON TRL STE C, Angola, IN 46703$1,652,645
Angola First Development LLCLeasing CompanyPO BOX 428, Ashley, IN 46705$595,922
Clear Lake Electric INCConstruction349 POKAGON TRAIL, Angola, IN 46703$582,845
Revenue and Support

Revenue Composition

Contributions and Grants
$10,766,440
Program Service Revenue
$67,675,771
Investment Income
$1,086,521
Other Revenue
$381,278
All Other Contributions
$8,937,342
Change in Net Assets
$9,675,420

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Residential1$500,000Fair Market Value (FMV)
Securities Publicly Traded14$274,357Hi/lo Average
Other Non Cash Contri Table2$75,708Fair Market Value (FMV)
Other Non Cash Contri Table1$13,700Fair Market Value (FMV)
Other Non Cash Contri Table1$6,600Fair Market Value (FMV)
Other Non Cash Contri Table1$5,200Fair Market Value (FMV)
Total Noncash Contributions20$875,565-

Audited Revenue Reconciliation

Revenue per Audited Statements
$50,597,305
Revenue Not Reported on Financial Statements
$29,312,705
Revenue Not Reported on Form 990
$-257,947
Other Revenue Adjustments
$29,223,542
Total Revenue per Audited Statements
$50,339,358
Total Revenue per Form 990
$79,910,010
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$24,600,107
Salaries, Compensation, and Employee Benefits$24,248,108
Other Expenses$21,341,375
Total Fundraising Expense$1,652,277
Professional Fundraising Fees$45,000

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$24,600,107--$24,600,107
Other Salaries and Wages$16,931,338$1,505,008$376,252$18,812,598
Other Expenses$2,840,343$1,014,409$202,881$4,057,633
Fees for Services Other$2,720,185$1,165,793-$3,885,978
Depreciation Depletion$2,692,645$961,659$192,332$3,846,636
Occupancy$2,993,889$561,354$187,118$3,742,361
Other Employee Benefits$1,381,013$453,761$138,101$1,972,875
Payroll Taxes$930,068$305,594$93,007$1,328,669
Pension Plan Contributions$921,631$302,822$92,163$1,316,616
Office Expenses$843,303$277,085$84,330$1,204,718
Current Officers, Directors, Trustees, and Key Employees$179,817$539,451$98,082$817,350
Travel$562,971$160,849$80,424$804,244
Interest$543,759$233,040-$776,799
Advertising$548,396$42,653$18,280$609,329
Insurance$215,532$76,976$15,395$307,903
Information Technology$222,740$68,307$5,940$296,987
Fees for Services Accounting-$181,675-$181,675
Fees for Service Investment Mgmnt Fees-$89,163-$89,163
Fees for Services Legal-$82,349-$82,349
Fees for Services Professional Fundraising--$45,000$45,000
Total Functional Expenses$60,502,936$8,079,377$1,652,277$70,234,590

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$70,234,590
Total Expenses per Audited Statements$41,113,860
Expenses per Audited Statements$40,921,885
Expenses Not Reported on Financial Statements$29,312,705
Other Expense Adjustments$29,223,542
Expenses Not Reported on Form 990$191,975
International Activity

International Summary

Employees
19
Spending
$461,369

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
East Asia and the PacificProgram ServicesStudent Recruitment-2$196,932
South AsiaProgram ServicesStudent Recruitment--$147,040
Middle East and North AfricaProgram ServicesStudent Recruitment--$69,777
Europe (Including Iceland and Greenland)Program ServicesStudy Abroad-12$29,920
East Asia and the PacificProgram ServicesStudy Abroad-5$17,700
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$88,434
Fundraising Gross Income$66,723
Professional Fundraising Fees$45,000

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$528,232$43,935$12,375$31,560
Golf Outing$106,240$22,788$41,311$-18,523
Total Events$634,472$66,723$88,434$-21,711
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Vestil Manufacturing Corp>35% BRD MBR OWNERSHIPLease of Villas, FurnishingsNo$238,488

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Annuities and Trusts Payable$864,534
Advances for Federal Loans$168,949
Assets Held for Others$160,117
Interest Rate Swap Agreements$112,711

Bond Issues

BondIssuerIssuedIssue PricePurpose
AIndiana Finance Authority2012-11-01$37,700,000Educational facilities revenue bon

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$37,700,000$0$0$133,000

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI

SECTION A, LINE 1B DR RALPH TRINE AND DR SHERI TRINE ARE CONSIDERED NON-INDEPENDENT BECAUSE THEY ARE THE OWNERS OF VESTIL MANUFACTURING CORP WHICH IS REPORTED ON SCHEDULE L. LINE 2 Dr Ralph Trine and Dr Sheri Trine have a family relationship. JIM FABIANI AND ELIZABETH ROONEY HAVE A FAMILY RELATIONSHIP.

Filing and Contact Details

Filer

Filer Name
Trine University
EIN
35-0715530
In Care Of
% JODY GREER
Phone
2606654105
Address
1 UNIVERSITY AVENUE, Suite, ANGOLA, IN 46703-1764

Signing Officer

Name
Jody Greer
Title
V.p. Finance
Phone
2606654105
Signed
2015-09-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Earl D Brooks Ii
Formed
1948
Legal Domicile
In
Voting Board Members
29
Independent Board Members
27
Employees
1,344
Volunteers
3

Preparer

Firm
Bkd Llp
Address
200 E Main St Suite 700, Fort Wayne, IN 46802
Preparer
Joyce A Dulworth
Phone
2604604000
Supplemental Narrative

Additional Explanations

Form 990, Part III

Line 4d: all other revenue and expenses relate to other educational instructions in science, business administration, teacher education, communications, and social sciences.

Section B, Line 11

An independent CPA firm and The audit Committee will perform a review of the Form 990. After their approval, the Form 990 is posted on Trine University's board web site. An email is also sent informing them of the availability of the form 990. After this, the form and related schedules are submitted to the IRS.

Section B, Line 12C

Trine university distributes an annual conflict of interest questionnaire to all officers, directors, trustees, and key employees. These parties are requested to complete the questionnaire. Any conflicts are brought to the board's attention and any conflicts are resolved at the board level. Any individuals with known conflicts are asked to recuse themselves from discussions relating to such conflict.

Line 15A

The chief financial officer does a comparability study with similar organizations, compiling the information to supply to the executive compensation committee. The committee meets annually to analyze the president's goals and objectives set forth and achieved, review compensation, and determine compensation based on the analysis and comparability study information provided. Compensation is approved by the full board.

Line 19

No documents are available to the public.

Form 990, Part XI, Line 9

Split interest agreements ($33,232) interest in steuben county community foundation + $20,185 derivative contract + ($365,545) total = ($378,592)

Financial Statement Notes

Part V, Line 4

THE UNIVERSITY'S ENDOWMENT FUNDS ARE DEVOTED TO SCHOLARSHIPS AND ACADEMIC ADVANCEMENT. 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.

Part XI, Line 2D

Split interest agreements ($33,232) interest in steuben county comm foundation $20,185 derivative contracts ($365,545) cost of goods sold $103,541 special events expense $88,434 total: ($186,617)

Part XII, Line 2D

Cost of goods sold $103,541 special events expense $88,434 total: $191,975

Part XI & XII, Line 4B

Depreciation & amortization $3,846,636 interest expense $776,799 student financial aid $24,600,107 total: $29,223,542

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IRS990/Desc0THE ALLEN SCHOOL OF ENGINEERING AND TECHNOLOGY SERVED 780 STUDENTS IN 2014/2015. THE SCHOOL'S MISSION IS TO PROMOTE THE APPLICATION OF SCIENCE AND TECHNOLOGY BY PREPARING GRADUATES FOR THE PRACTICE OF ENGINEERING AND ENGINEERING TECHNOLOGY AT THE PROFESSIONAL LEVEL. TO ATTAIN ITS VISION, THE SCHOOL CONCENTRATES UPON THE EDUCATION OF ENGINEERS AND TECHNOLOGISTS WHO HAVE A BROAD EDUCATION; SEE THEMSELVES AS GLOBAL CITIZENS; HAVE THE POTENTIAL FOR LEADERSHIP IN BUSINESS AND PUBLIC SERVICE; AND HAVE A STRONG ETHICAL FOUNDATION. THE SCHOOL OFFERS BACHELOR OF SCIENCE IN ENGINEERING DEGREES IN BIOMEDICAL, CHEMICAL, CIVIL, ELECTRICAL, MECHANICAL, COMPUTER SCIENCE AND COMPUTER ENGINEERING, PLUS A BACHELOR'S DEGREE IN DESIGN ENGINEERING TECHNOLOGY. STUDENTS CAN MINOR IN AERONAUTICAL, BIOPROCESS, ENVIRONMENTAL, STRUCTURAL, ENERGY, BIOMEDICAL, PLASTICS, SOFTWARE, ROBOTICS, AND METALLURGICAL ENGINEERING. METALLURGICAL ENGINEERING.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$441$40.9$400$233$159$73.4
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$365$41.0$324$212$151$60.7
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$299$42.4$257$187$130$57.1
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$236$37.6$198$137$117$20.1
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$222$37.8$184$122$107$14.5
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$197$39.7$157$113$100$12.7
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$195$46.0$149$103$96.9$6.25
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$190$49.6$140$101$91.7$9.73
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$172$43.9$128$98.9$82.9$16.0
2016Detailed filing. Detailed filing data is available for this year.$154$44.0$110$97.7$78.7$19.1
2015Detailed filing. Detailed filing data is available for this year.$137$44.8$92.3$79.9$70.2$9.68
2014Detailed filing. Detailed filing data is available for this year.$125$42.3$83.0$70.7$60.9$9.76
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$107$41.9$65.0$56.6
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$99.5$41.8$57.6$53.1