Civic Intelligence

Alma College

990 • Fiscal year 2017 • EIN 38-1359083

Jul 01, 2016 to Jun 30, 2017 • Filed on Jan 11, 2018

614 W SuperiorAlma, MI 48801

(989) 463-7317

Siviq Scores

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

Liabilities / Assets

36th percentile

0.20x

Higher debt load relative to assets than 36% of similar nonprofits.

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

Liabilities / Revenue

52nd percentile

0.53x

Higher debt load relative to revenue than 52% of similar nonprofits.

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

Net Margin

29th percentile

-0.3%

Higher net margin than 29% of similar nonprofits.

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

Top Officer Pay

29th percentile

$317,220

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 0.4% of source-year revenue.

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

Asset Growth

62nd percentile

8.6%

Faster asset growth than 62% of similar nonprofits.

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

Revenue Growth

38th percentile

2.3%

Faster revenue growth than 38% of similar nonprofits.

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

Assets

Up

$207,985,667

Up $16,557,870 (+8.6%) from 2016

Net Assets

Up

$166,350,035

Up $8,178,712 (+5.2%) from 2016

Liabilities

Up

$41,635,632

Up $8,379,158 (+25%) from 2016

Revenue

Up

$79,268,842

Up $1,766,707 (+2.3%) from 2016

Expenses

Up

$79,530,919

Up $3,077,662 (+4.0%) from 2016

Net Income

Down

-$262,077

Down $1,310,955 (-125%) from 2016

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2011: $174,329,246Liabilities 2011: $26,677,235Net Assets 2011: $147,652,0112011Assets 2012: $165,623,030Liabilities 2012: $23,898,256Net Assets 2012: $141,724,7742012Assets 2013: $180,176,884Liabilities 2013: $32,779,685Net Assets 2013: $147,397,1992013Assets 2014: $194,929,869Liabilities 2014: $32,643,295Net Assets 2014: $162,286,5742014Assets 2015: $194,836,128Liabilities 2015: $33,808,641Net Assets 2015: $161,027,4872015Assets 2016: $191,427,797Liabilities 2016: $33,256,474Net Assets 2016: $158,171,3232016Assets 2017: $207,985,667Liabilities 2017: $41,635,632Net Assets 2017: $166,350,0352017Assets 2018: $237,245,279Liabilities 2018: $67,576,899Net Assets 2018: $169,668,3802018Assets 2019: $235,677,831Liabilities 2019: $67,082,872Net Assets 2019: $168,594,9592019Assets 2020: $239,263,678Liabilities 2020: $67,996,447Net Assets 2020: $171,267,2312020Assets 2021: $267,015,717Liabilities 2021: $62,294,771Net Assets 2021: $204,720,9462021Assets 2022: $241,298,093Liabilities 2022: $59,869,154Net Assets 2022: $181,428,9392022Assets 2023: $256,194,991Liabilities 2023: $68,526,973Net Assets 2023: $187,668,0182023Assets 2024: $259,551,600Liabilities 2024: $66,506,295Net Assets 2024: $193,045,3052024

Highlighted filing

2017

Assets$207,985,667
Liabilities$41,635,632
Net Assets$166,350,035

Operations Trend

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

$100M$50M$0-$50MExpenses 2011: $61,002,1302011Expenses 2012: $66,291,4132012Revenue 2013: $71,768,995Expenses 2013: $68,888,600Net Income 2013: $2,880,3952013Revenue 2014: $77,898,163Expenses 2014: $70,909,450Net Income 2014: $6,988,7132014Revenue 2015: $79,946,543Expenses 2015: $72,585,319Net Income 2015: $7,361,2242015Revenue 2016: $77,502,135Expenses 2016: $76,453,257Net Income 2016: $1,048,8782016Revenue 2017: $79,268,842Expenses 2017: $79,530,919Net Income 2017: -$262,0772017Revenue 2018: $86,791,108Expenses 2018: $83,453,002Net Income 2018: $3,338,1062018Revenue 2019: $86,294,571Expenses 2019: $86,398,019Net Income 2019: -$103,4482019Revenue 2020: $88,287,499Expenses 2020: $86,684,752Net Income 2020: $1,602,7472020Revenue 2021: $86,854,101Expenses 2021: $85,578,080Net Income 2021: $1,276,0212021Revenue 2022: $90,838,076Expenses 2022: $90,164,297Net Income 2022: $673,7792022Revenue 2023: $86,977,279Expenses 2023: $92,232,606Net Income 2023: -$5,255,3272023Revenue 2024: $90,350,482Expenses 2024: $92,973,653Net Income 2024: -$2,623,1712024

Highlighted filing

2017

Revenue$79,268,842
Expenses$79,530,919
Net Income-$262,077
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Jan 11, 2018
Return Version
2016v3.1
Gross Receipts
$94,149,477
Mission and Program Overview

Mission

Alma college's mission is to prepare graduates who think critically, serve generously, lead purposefully, and live responsibly as stewards of the world they bequeath to future generations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$100,917,743$110,258,702▲ $9,340,959
Land, Buildings, and Equipment, Net$60,853,454$63,198,300▲ $2,344,846
Investments Other Securities$12,637,016$13,003,119▲ $366,103
Savings and Temporary Cash Investments$4,569,905$7,354,874▲ $2,784,969
Pledges and Grants Receivable$4,272,235$5,732,354▲ $1,460,119
Other Notes and Loans Receivable, Net$3,735,464$3,372,146▼ $363,318
Prepaid Expenses and Deferred Charges$1,374,758$1,613,368▲ $238,610
Accounts Receivable$528,762$585,776▲ $57,014
Cash and Non-Interest-Bearing Accounts$4,196$5,712▲ $1,516
Total Assets$191,427,797$207,985,667▲ $16,557,870
Other Assets Total$2,534,264$2,861,316▲ $327,052
Liabilities
Tax Exempt Bond Liabilities$14,050,000$18,700,000▲ $4,650,000
Mortgage Notes Payable Secured by Investment Property$6,261,981$8,000,000▲ $1,738,019
Accounts Payable and Accrued Expenses$6,589,526$6,765,066▲ $175,540
Other Liabilities$3,791,814$3,555,816▼ $235,998
Unsecured Notes Loans Payable$1,500,000$3,500,000▲ $2,000,000
Deferred Revenue$1,063,153$1,114,750▲ $51,597
Total Liabilities$33,256,474$41,635,632▲ $8,379,158
Net Assets / Fund Balance
Temporarily Rstr Net Assets$59,348,041$66,347,250▲ $6,999,209
Permanently Rstr Net Assets$62,566,757$65,283,962▲ $2,717,205
Unrestricted Net Assets$36,256,525$34,718,823▼ $1,537,702
Total Net Assets Fund Balance$158,171,323$166,350,035▲ $8,178,712
Total Liabilities and Net Assets / Fund Balance$191,427,797$207,985,667▲ $16,557,870

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$59,209,781$35,900,029$95,109,810
Equipment$1,599,159$15,513,499$17,112,658
Land$2,389,360-$2,389,360
Other Securities$748,955--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$111,888,764$2,718,751▲ $12,366,590-$120,712,604
2016$114,761,906$3,989,929▼ $674,346-$111,888,764
2015$116,462,048$4,319,649▼ $7,982-$114,761,906
2014$102,679,827$4,171,533▲ $15,432,861-$116,462,048
2013$96,751,711$157,020▲ $11,205,949-$102,679,827
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Jeffrey AbernathyPresidentFT$282,872$35,670$317,220
Mr Todd FriesnerVP Finance aFT$183,618$25,183$208,801
Mr Todd FriesnerVP Finance and Admin-$183,618$26,392$208,801
Dr Michael SelmonVP & ProvostFT$160,582$45,138$204,661
Mr Matthew VandenbergVP AdvancemeFT$165,325$29,078$194,403
Mr Matthew VandenbergVP Advancement-$165,325$30,105$194,403
Ms Judith MckennaDirector NurFT$136,983$18,500$155,483
Ms Judith MckennaDirector Nursing Ed-$136,983$18,500$155,483
Mr Steven RackleyAthletic DirectorFT$126,250$26,034$151,387
Dr Nicholas PiccoloVP Student LFT$123,336$21,386$144,722
Mr Daniel HenrisAvp FinanceFT$106,555$33,430$139,985
Dr Keith NelsonIts DirectorFT$117,570$21,519$139,089
Mr Robert GarciaVP EnrollmenFT$121,173$9,065$130,238
Mr Greg BalejaProfessorFT$108,065$19,060$127,125
Dr Dale SandersDirector Health CFT$112,393$12,777$125,170
Ms Elizabeth HallVP Mkt and CFT$115,694$8,579$124,273

Highest Paid Contractors

ContractorServicesLocationCompensation
Royall And CompanyStudent Recriut1920 E PARHAM RD, SUITE 700, Henrico, VA 23228$668,883
Mid Michigan HealthMedical Service300 E WARWICK DR, Alma, MI 48801$190,468
Enterprise Fleet ManagementVehicle FleetPO BOX 800089, Kansas City, MO 64180$143,075
Bkd Cpa's And AdvisorsAuditing200 E MAIN ST, Fort Wayne, IN 46802$141,650
MercerInvest Mgt101 SOUTH HANLEY ROAD THIRD FLOOR, St Louis, MO 63105-3406$127,018
Revenue and Support

Revenue Composition

Contributions and Grants
$8,459,415
Program Service Revenue
$66,486,953
Investment Income
$4,093,993
Other Revenue
$228,481
All Other Contributions
$7,678,125
Change in Net Assets
$-262,077

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
Securities Publicly Traded11$423,494Fair Market Value (FMV)
Total Noncash Contributions11$423,494-

Audited Revenue Reconciliation

Revenue per Audited Statements
$49,660,972
Revenue Not Reported on Financial Statements
$29,607,870
Revenue Not Reported on Form 990
$8,039,622
Other Revenue Adjustments
$28,941,703
Total Revenue per Audited Statements
$57,700,594
Total Revenue per Form 990
$79,268,842
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$28,941,703
Salaries, Compensation, and Employee Benefits$28,057,764
Other Expenses$22,531,452
Total Fundraising Expense$1,159,608
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$28,941,703--$28,941,703
Other Salaries and Wages$18,051,640$1,017,114$483,851$19,552,605
Office Expenses$3,694,173$798,397$93,644$4,586,214
Other Employee Benefits$4,276,780$45,898$114,744$4,437,422
Travel$2,401,391$111,829$31,137$2,544,357
Depreciation Depletion$2,097,500$288,684-$2,386,184
Fees for Services Other$2,216,256$61,502$59,406$2,337,164
Occupancy$1,653,267$5,389$10,889$1,669,545
Current Officers, Directors, Trustees, and Key Employees$671,371$664,097$199,670$1,535,138
Payroll Taxes$1,266,239$75,396$34,117$1,375,752
Pension Plan Contributions$1,048,075$75,183$33,589$1,156,847
Interest$726,135$80,682-$806,817
Fees for Service Investment Mgmnt Fees-$666,167-$666,167
Information Technology$627,415--$627,415
Insurance$106,826$448,185-$555,011
Advertising$49,274$250,440-$299,714
All Other Expenses$174,693$24,489$23,043$222,225
Conferences and Meetings$178,640$30,334$3,452$212,426
Fees for Services Legal-$196,085-$196,085
Other Expenses$121,118$1,437$72,066$121,118
Fees for Services Accounting-$115,000-$115,000
Total Functional Expenses$73,415,003$4,956,308$1,159,608$79,530,919

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$79,530,919
Expenses per Audited Statements$49,923,049
Total Expenses per Audited Statements$49,521,882
Expenses Not Reported on Financial Statements$29,607,870
Other Expense Adjustments$28,941,703
Expenses Not Reported on Form 990$-401,167
International Activity

International Summary

Spending
$164,384

International Compliance

Foreign grant records maintained
Yes
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
EuropeProgram ServicesStudy Abroad--$133,071
East Asia and PacificProgram ServicesStudy Abroad--$23,028
South AmericaProgram ServicesStudy Abroad--$8,285
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Life Income Obligations$1,802,931
Refundable Gov Loan Advance$1,752,885

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMhefa 2017 Multi-modal Rev Bond2017-05-01$18,700,000Refund 2005, 2008 and 2013 tax-exempt bonds and provide additional funds

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$18,700,000$374,990$5,000,000-

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
Yes
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
Yes
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, Page 6, Part VI, Line 11B

A copy of the form 990 is provided to and reviewed by the audit committee of the board of trustees prior to filing. The return is available for the full board to review.

Form 990, Page 6, Part VI, Line 12C

Each year all board of trustee members, executive staff members, and key employees are required to sign a written statement noting any conflict of interest dealings. These signed conflict of interest statements are reviewed annually by the audit committee of the board of trustees. If a potential conflict is disclosed, that person will be asked to abstain from any decision making relating to the disclosed conflict.

Form 990, Page 6, Part VI, Line 15A

The board executive committee, along with input from the full board of trustees, annually determines the compensation for the college president. Compensation amounts are based upon many factors, such as the skills and experience of the president and comparable compensation levels provided by peer institutions.

Form 990, Page 6, Part VI, Line 15B

The president of the college, with input from the executive committee of the board of trustees annually determine the compensation for the provost and the vice-presidents.

Form 990, Page 6, Part VI, Line 19

Governing documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Alma College
EIN
38-1359083
Phone
9894637317
Address
614 W SUPERIOR, ALMA, MI 48801

Signing Officer

Name
Alan Gatlin
Title
COO/vpfa
Phone
9894637317
Signed
2018-01-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Jeffrey Abernathy
Formed
1886
Legal Domicile
Mi
Voting Board Members
32
Independent Board Members
32
Employees
1,341
Volunteers
750

Preparer

Firm
Henris Tax Services
Address
5280 N GLEN OAK DR, SAGINAW, MI 48603
Preparer
Daniel J Henris
Phone
9892455336
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

Approximately 700 students provide various volunteer services to the college, in addition to approximately 50 community volunteers.

Form 990, Part XI, Line 9

Expenses net to income on return 70,983 revenue offsets net to expense on return -472,150 scholarships net to rev on afs -28,941,703 expenses net to income on return -70,983 revenue offsets net to expense on return 472,150 scholarships net to rev on afs 28,941,703

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

Expenses net to income on return 70,983 revenue offsets net to expense on return -472,150

Schedule D, Page 4, Part XI, Line 4B

Scholarships net to rev on afs 28,941,703

Schedule D, Page 4, Part XII, Line 2D

Expenses net to income on return 70,983 revenue offsets net to expense on return -472,150

Schedule D, Page 4, Part XII, Line 4B

Scholarships net to rev on afs 28,941,703

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$260$66.5$193$90.4$93.0$2.62
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$256$68.5$188$87.0$92.2$5.26
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$241$59.9$181$90.8$90.2$0.67
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$267$62.3$205$86.9$85.6$1.28
2020Detailed filing. Detailed filing data is available for this year.$239$68.0$171$88.3$86.7$1.60
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$236$67.1$169$86.3$86.4$0.10
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$237$67.6$170$86.8$83.5$3.34
2017Detailed filing. Detailed filing data is available for this year.$208$41.6$166$79.3$79.5$0.26
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$191$33.3$158$77.5$76.5$1.05
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$195$33.8$161$79.9$72.6$7.36
2014Detailed filing. Detailed filing data is available for this year.$195$32.6$162$77.9$70.9$6.99
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$180$32.8$147$71.8$68.9$2.88
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$166$23.9$142$66.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$174$26.7$148$61.0