Civic Intelligence

Trine University Amended

990 • Fiscal year 2017 • EIN 35-0715530

May 01, 2016 to Apr 30, 2017 • Filed on Mar 15, 2018

1 University AvenueAngola, IN 46703-1764

(260) 665-4105

Siviq Scores

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

Liabilities / Assets

44th percentile

0.25x

Higher debt load relative to assets than 44% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Liabilities / Revenue

46th percentile

0.44x

Higher debt load relative to revenue than 46% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Net Margin

77th percentile

16%

Higher net margin than 77% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Top Officer Pay

66th percentile

$675,107

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Asset Growth

73rd percentile

12%

Faster asset growth than 73% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Revenue Growth

35th percentile

1.2%

Faster revenue growth than 35% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Assets

Up

$172,334,925

Up $18,400,763 (+12%) from 2016

Net Assets

Up

$128,400,100

Up $18,454,033 (+17%) from 2016

Liabilities

Down

$43,934,825

Down $53,270 (-0.1%) from 2016

Revenue

Up

$98,896,297

Up $1,179,655 (+1.2%) from 2016

Expenses

Up

$82,922,745

Up $4,271,128 (+5.4%) from 2016

Net Income

Down

$15,973,552

Down $3,091,473 (-16%) from 2016

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

2017

Assets$172,334,925
Liabilities$43,934,825
Net Assets$128,400,100

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

2017

Revenue$98,896,297
Expenses$82,922,745
Net Income$15,973,552
Jump To
Filing Snapshot
Filing Period
May 1, 2016 to Apr 30, 2017
Signed
Mar 15, 2018
Return Version
2016v3.1
Gross Receipts
$104,360,812
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$92,526,800$105,490,624▲ $12,963,824
Investments in Publicly Traded Securities$25,021,494$30,309,428▲ $5,287,934
Savings and Temporary Cash Investments$17,984,681$17,056,029▼ $928,652
Pledges and Grants Receivable$13,771,919$14,268,919▲ $497,000
Accounts Receivable$1,229,601$1,859,529▲ $629,928
Prepaid Expenses and Deferred Charges$380,529$420,760▲ $40,231
Inventories for Sale or Use$211,119$197,522▼ $13,597
Other Notes and Loans Receivable, Net$15,450$0▼ $15,450
Cash and Non-Interest-Bearing Accounts$0$970▲ $970
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$153,934,162$172,334,925▲ $18,400,763
Other Assets Total$2,792,569$2,731,144▼ $61,425
Liabilities
Tax Exempt Bond Liabilities$32,186,557$28,922,250▼ $3,264,307
Accounts Payable and Accrued Expenses$5,560,690$8,550,024▲ $2,989,334
Mortgage Notes Payable Secured by Investment Property$1,445,959$2,850,266▲ $1,404,307
Deferred Revenue$2,867,562$2,189,677▼ $677,885
Other Liabilities$1,927,327$1,422,608▼ $504,719
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$43,988,095$43,934,825▼ $53,270
Net Assets / Fund Balance
Unrestricted Net Assets$67,252,146$78,143,594▲ $10,891,448
Temporarily Rstr Net Assets$24,064,886$30,831,050▲ $6,766,164
Permanently Rstr Net Assets$18,629,035$19,425,456▲ $796,421
Total Net Assets Fund Balance$109,946,067$128,400,100▲ $18,454,033
Total Liabilities and Net Assets / Fund Balance$153,934,162$172,334,925▲ $18,400,763

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$82,392,806$33,617,353$116,010,159
Other Land Buildings$15,297,673$7,804,142$23,101,815
Equipment$4,482,418$8,883,536$13,365,954
Land$3,317,727-$3,317,727
Leasehold Improvements$0$0$0

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$29,342,177$924,444▲ $2,885,239-$32,027,839
2015$29,288,553$1,521,091▼ $443,952-$29,342,177
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Earl D Brooks IiPresidentFT$357,373$317,734$675,107
Mr Allen HerselVP of Academic AffairsFT$186,627$48,097$234,724
Mr Kent StuckyVP of DevelopmentFT$143,222$50,815$194,037
Mr Michael BockSr. Vice PresidentFT$133,225$45,962$179,187
Ms Dawn LabarberaDirector of P.a. SchoolFT$135,935$41,263$177,198
Mrs Jody a GreerV.p. FinanceFT$117,684$54,516$172,200
Mr Timothy TylerDean, School of EngineeringFT$130,275$26,862$157,137
Mr Randy WhiteVP Student LifeFT$118,450$34,284$152,734
Mr Max BaumgartnerDean, School of Health ScienceFT$127,402$24,551$151,953

Board Members and Trustees

NameTitle
Mr Rick JamesBoard Chair
Mr Jack ShawVice Board Chair
Dr John HesterBoard 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 BockBoard Member
Mr James FabianiBoard Member
Mr Jerry AllenBoard 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
Mr Tim HaffnerBoard Member
Ms Elizabeth RooneyBoard Member
Ms Theresa WaglerBoard Member
Mr Lynn BrooksSecretary of Board

Highest Paid Contractors

ContractorServicesLocationCompensation
Michael Kinder And SonsConstruction5206 DECATUR RD, Fort Wayne, IN 46802$9,063,257
JiciConstruction319 POKAGON TRAIN, Angola, IN 46703$6,628,415
Bon Appetit Management CompanyFood Service91337 COLLECTIONS DRIVE, Chicago, IL 60693$4,465,546
Follett Higher Education GroupBookstore624 S MICHIGAN AVE 1, Chicago, IL 60605$417,613
Presidio HoldingsProfessional ServicePO BOX 99613, Troy, MI 60605$364,950
Revenue and Support

Revenue Composition

Contributions and Grants
$11,705,836
Program Service Revenue
$85,419,538
Investment Income
$1,402,790
Other Revenue
$368,133
All Other Contributions
$10,918,984
Change in Net Assets
$15,973,552

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded7$671,688Hi/lo Average
Other Non Cash Contri Table4$16,861Fair Market Value (FMV)
Other Non Cash Contri Table2$9,100Fair Market Value (FMV)
Total Noncash Contributions13$697,649-

Audited Revenue Reconciliation

Revenue per Audited Statements
$70,657,011
Revenue Not Reported on Financial Statements
$28,239,286
Revenue Not Reported on Form 990
$2,708,511
Other Revenue Adjustments
$28,139,440
Total Revenue per Audited Statements
$73,365,522
Total Revenue per Form 990
$98,896,297
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$29,229,918
Grants and Similar Amounts Paid$28,139,440
Other Expenses$25,506,964
Total Fundraising Expense$963,499
Professional Fundraising Fees$46,423

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$28,139,440--$28,139,440
Other Salaries and Wages$20,073,175$1,784,282$446,071$22,303,528
Depreciation Depletion$4,308,707$382,996$95,749$4,787,452
Fees for Services Other$3,226,524$1,382,796-$4,609,320
All Other Expenses$3,537,126$314,411$78,603$3,930,140
Occupancy$3,051,375$271,233$67,808$3,390,416
Other Employee Benefits$2,296,761$204,157$51,039$2,551,957
Payroll Taxes$1,464,462$130,174$32,544$1,627,180
Pension Plan Contributions$1,444,042$128,360$32,090$1,604,492
Office Expenses$1,376,857$122,387$30,597$1,529,841
Other Expenses$1,295,602$25,836$6,459$1,295,602
Current Officers, Directors, Trustees, and Key Employees$1,028,485$91,421$22,855$1,142,761
Travel$870,461$77,374$19,344$967,179
Advertising$704,049$62,582$15,646$782,277
Interest$517,633$221,843-$739,476
Information Technology$465,623$41,389$10,347$517,359
Insurance$356,575$31,695$7,924$396,194
Fees for Services Accounting-$200,672-$200,672
Fees for Service Investment Mgmnt Fees-$99,846-$99,846
Fees for Services Professional Fundraising--$46,423$46,423
Fees for Services Legal-$34,245-$34,245
Total Functional Expenses$76,351,547$5,607,699$963,499$82,922,745

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$82,922,745
Total Expenses per Audited Statements$54,911,489
Expenses per Audited Statements$54,683,459
Expenses Not Reported on Financial Statements$28,239,286
Other Expense Adjustments$28,139,440
Expenses Not Reported on Form 990$228,030
International Activity

International Summary

Employees
14
Spending
$1,110,039

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
South AsiaProgram ServicesStudent Recruitment-5$635,009
Middle East and North AfricaProgram ServicesStudent Recruitment-1$286,000
East Asia and the PacificProgram ServicesStudent Recruitment-8$133,180
Europe (Including Iceland and Greenland)Program ServicesStudy Abroad--$55,850
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$134,105
Fundraising Gross Income$127,161
Professional Fundraising Fees$46,423
Gaming Direct Expenses$0
Gaming Gross Income$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outing$171,750$76,720$45,106$31,614
Gala$506,610$50,441$26,518$23,923
Total Events$678,360$127,161$134,105$-6,944
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$216,000

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$1,055,256
Assets Held for Others$362,199
Interest Rate Swap Agreements$5,153
Advances for Federal Loans$0

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$8,777,750$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 B, Line 11B

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 the board of the availability of the form 990. After this, the form and related schedules are submitted to the IRS.

Form 990, Part VI, 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.

Form 990, Part VI, Section B, 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. The last compensation review was performed in 2017.in addition, a compensation study is obtained from a third party every 5 years.

Form 990, Part VI, Section C, Line 19

No documents are available to the public.

Filing and Contact Details

Filer

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

Signing Officer

Name
Jody Greer
Title
V.p. Finance
Phone
2606654105
Signed
2018-03-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Earl D Brooks Ii
Formed
1948
Legal Domicile
In
Voting Board Members
28
Independent Board Members
26
Employees
1,473
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. FORM 990, PART VI, SECTION A, 1B Dr. Ralph Trine and Dr. Sheri Trine are considered non-independent due to a transaction with Vestil Manufacturing Corp, an entity of which they are greater than 35% owners. This transaction is reported on Schedule L. FORM 990, PART VI, SECTION A, LINE 2 Dr. Ralph Trine and Dr. Sheri Trine have a family relationship. JIM FABIANI AND ELIZABETH ROONEY HAVE A FAMILY RELATIONSHIP.

Form 990, Part XI, Line 9

Split interest agreements $ 29,024 interest in steuben county community foundation + 34,786 derivative contract + 599,994 total = $663,804

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 $29,024 interest in steuben county comm foundation 34,786 derivative contracts 599,994 cost of goods sold 93,925 special events expense 134,105 total: $891,834

Part XII, Line 2D

Cost of goods sold $ 93,925 special events expense 134,105 total: $228,030

Part XI & XII, Line 4B

Student financial aid $28,139,440 total: $28,139,440

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IRS990/Desc0THE ALLEN SCHOOL OF ENGINEERING AND TECHNOLOGY SERVED 846 STUDENTS IN 2016/2017. 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, COMPUTER, ELECTRICAL, MECHANICAL, AND SOFTWARE 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.
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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
2017Detailed filing. Detailed filing data is available for this year.$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