Civic Intelligence

Lawrence Technological University

990 • Fiscal year 2017 • EIN 38-1369604

Jul 01, 2016 to Jun 30, 2017 • Filed on Jan 18, 2018

21000 West Ten Mile RoadSouthfield, MI 48075-1058

(248) 204-4000

Siviq Scores

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

Liabilities / Assets

58th percentile

0.38x

Higher debt load relative to assets than 58% of similar nonprofits.

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

Liabilities / Revenue

75th percentile

1.24x

Higher debt load relative to revenue than 75% of similar nonprofits.

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

Net Margin

23rd percentile

-2.2%

Higher net margin than 23% of similar nonprofits.

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

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2017

Asset Growth

79th percentile

14%

Faster asset growth than 79% of similar nonprofits.

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

Revenue Growth

18th percentile

-5.8%

Faster revenue growth than 18% of similar nonprofits.

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

Assets

Up

$212,310,149

Up $26,667,294 (+14%) from 2016

Net Assets

Up

$130,727,184

Up $4,039,257 (+3.2%) from 2016

Liabilities

Up

$81,582,965

Up $22,628,037 (+38%) from 2016

Revenue

Down

$65,948,850

Down $4,029,940 (-5.8%) from 2016

Expenses

Up

$67,380,894

Up $2,794,225 (+4.3%) from 2016

Net Income

Down

-$1,432,044

Down $6,824,165 (-127%) 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 2010: $119,837,393Liabilities 2010: $48,161,133Net Assets 2010: $71,676,2602010Assets 2011: $130,781,009Liabilities 2011: $52,615,484Net Assets 2011: $78,165,5252011Assets 2012: $126,722,105Liabilities 2012: $50,302,828Net Assets 2012: $76,419,2772012Assets 2013: $122,300,255Liabilities 2013: $45,521,165Net Assets 2013: $76,779,0902013Assets 2014: $159,829,190Liabilities 2014: $46,377,678Net Assets 2014: $113,451,5122014Assets 2015: $179,371,591Liabilities 2015: $57,356,760Net Assets 2015: $122,014,8312015Assets 2016: $185,642,855Liabilities 2016: $58,954,928Net Assets 2016: $126,687,9272016Assets 2017: $212,310,149Liabilities 2017: $81,582,965Net Assets 2017: $130,727,1842017Assets 2018: $212,826,385Liabilities 2018: $83,347,635Net Assets 2018: $129,478,7502018Assets 2019: $214,719,220Liabilities 2019: $88,118,689Net Assets 2019: $126,600,5312019Assets 2020: $213,033,011Liabilities 2020: $85,442,581Net Assets 2020: $127,590,4302020Assets 2021: $221,146,506Liabilities 2021: $80,020,317Net Assets 2021: $141,126,1892021Assets 2022: $206,424,495Liabilities 2022: $79,628,409Net Assets 2022: $126,796,0862022Assets 2023: $205,364,493Liabilities 2023: $79,159,782Net Assets 2023: $126,204,7112023

Highlighted filing

2017

Assets$212,310,149
Liabilities$81,582,965
Net Assets$130,727,184

Operations Trend

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

$100M$50M$0-$50MExpenses 2010: $56,976,6942010Expenses 2011: $54,083,5152011Revenue 2012: $55,484,730Expenses 2012: $55,095,874Net Income 2012: $388,8562012Revenue 2013: $55,109,769Expenses 2013: $56,360,843Net Income 2013: -$1,251,0742013Revenue 2014: $87,701,550Expenses 2014: $57,701,270Net Income 2014: $30,000,2802014Revenue 2015: $73,609,159Expenses 2015: $62,446,447Net Income 2015: $11,162,7122015Revenue 2016: $69,978,790Expenses 2016: $64,586,669Net Income 2016: $5,392,1212016Revenue 2017: $65,948,850Expenses 2017: $67,380,894Net Income 2017: -$1,432,0442017Revenue 2018: $64,789,955Expenses 2018: $67,554,845Net Income 2018: -$2,764,8902018Revenue 2019: $66,465,628Expenses 2019: $70,438,008Net Income 2019: -$3,972,3802019Revenue 2020: $70,839,863Expenses 2020: $71,386,597Net Income 2020: -$546,7342020Revenue 2021: $73,258,942Expenses 2021: $71,085,902Net Income 2021: $2,173,0402021Revenue 2022: $77,203,633Expenses 2022: $78,988,180Net Income 2022: -$1,784,5472022Revenue 2023: $81,742,284Expenses 2023: $86,222,584Net Income 2023: -$4,480,3002023

Highlighted filing

2017

Revenue$65,948,850
Expenses$67,380,894
Net Income-$1,432,044
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Jan 18, 2018
Return Version
2016v3.0
Gross Receipts
$66,784,942
Mission and Program Overview

Mission

To develop leaders through innovative and agile programs embracing theory and practice.

A higher educational University by its mission to develop leaders through innovative and agile programs embracing theory and practice. The University's Vision is to be a preeminent private university producing leaders with an entrepreneurial spirit and global view.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$88,587,309$88,059,091▼ $528,218
Investments in Publicly Traded Securities$63,184,679$69,327,349▲ $6,142,670
Investments Other Securities$0$28,940,762▲ $28,940,762
Cash and Non-Interest-Bearing Accounts$15,852,035$18,283,345▲ $2,431,310
Accounts Receivable$5,025,100$4,642,150▼ $382,950
Prepaid Expenses and Deferred Charges$1,471,691$1,691,445▲ $219,754
Other Notes and Loans Receivable, Net$1,139,653$1,187,253▲ $47,600
Pledges and Grants Receivable$10,382,388$178,754▼ $10,203,634
Savings and Temporary Cash Investments$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$185,642,855$212,310,149▲ $26,667,294
Other Assets Total$0$0→ $0
Liabilities
Tax Exempt Bond Liabilities$36,593,000$62,398,000▲ $25,805,000
Accounts Payable and Accrued Expenses$13,544,932$13,484,795▼ $60,137
Deferred Revenue$3,179,358$3,131,905▼ $47,453
Other Liabilities$2,774,135$1,762,236▼ $1,011,899
Mortgage Notes Payable Secured by Investment Property$2,486,641$429,167▼ $2,057,474
Grants Payable$376,862$376,862→ $0
Unsecured Notes Loans Payable$0--
Escrow Account Liability$0$0→ $0
Total Liabilities$58,954,928$81,582,965▲ $22,628,037
Net Assets / Fund Balance
Unrestricted Net Assets$59,114,878$60,481,144▲ $1,366,266
Temporarily Rstr Net Assets$41,919,381$44,212,268▲ $2,292,887
Permanently Rstr Net Assets$25,653,668$26,033,772▲ $380,104
Total Net Assets Fund Balance$126,687,927$130,727,184▲ $4,039,257
Total Liabilities and Net Assets / Fund Balance$185,642,855$212,310,149▲ $26,667,294

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$73,874,515$47,232,469$0
Other Land Buildings$1,044,853$0$0
Land$934,607-$0
Equipment$9,734,736$29,438,221$0
Leasehold Improvements$2,470,380$4,960,969$0
Other Securities$28,940,762--
Closely Held Equity Interests$0--
Financial Derivatives$0--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$45,410,527$373,751▲ $5,193,756$1,863,177$49,114,857
2016$47,859,681$788,026▼ $141,794$3,095,386$45,410,527
2015$41,478,740$7,168,321▲ $511,794$1,299,174$47,859,681
2014$28,820,115$9,250,383▲ $4,730,146$1,321,904$41,478,740
2013$26,972,974$300,028▲ $2,630,207$1,083,094$28,820,115
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Virinder MoudgilPresidentFT$375,000$114,774$489,774
Nabil GraceDean of EngineeringFT$205,530$274,876$480,406
Maria VazProvostFT$235,412$33,746$269,158
Linda HeightChief Financial OfficerFT$208,455$32,262$240,717
Bahman MirshabDean of College of ManagementFT$205,652$33,465$239,117
Kristen DevriesVice President of AdvancementFT$206,570$31,981$238,551
Karl DaubmannDean of ArchitectureFT$180,000$30,370$210,370
Timothy ChavisChief Information OfficerFT$172,323$31,743$204,066
Lisa KujawaAssociate ProvostFT$166,653$31,132$197,785
Hsiao-Ping H MooreDean of Arts & ScienceFT$161,912$16,391$178,303
Joseph VeryserUniversity's ArchitectFT$158,340$17,256$175,596

Board Members and Trustees

NameTitle
Douglas E EbertChairman of the Board
Barbara SamardzichBoard Member
Cary B WoodBoard Member
Daniel W WineyBoard Member
David B WohleenBoard Member
Elizabeth HowellBoard Member
Frederick M Adams JrBoard Member
Howard B PadghamBoard Member
Jean MeyerBoard Member
John G PettyBoard Member
John G SmithBoard Member
Joseph E ChampagneBoard Member
Larry D LyonsBoard member
Lauren L BowlerBoard Member
Lloyd E ReussBoard Member
Marcy KlevornBoard Member
Mary Ann WrightBoard Member
Raymond KhanBoard Member
Victor A SarokiBoard Member
Vincent G DowBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
AramarkMaintenance Services and Dining Services527 Plymouth, Plymouth Meeting, PA 19462$5,912,719
Demaria Building CompanyConstruction Company45500 GRAND RIVER, Novi, MI 48374$2,558,936
Frank Rewold And Sons INCConstruction Services333 EAST 2ND ST, Rochester, MI 48307$2,050,583
Corax Business Solutions IncProfessional Development2774 Waterloo, Troy, MI 48084$763,959
Yellow Flag ProductionsAdvertising180 HIGH OAK ST, Bloomfield Hills, MI 48304$681,284
Revenue and Support

Revenue Composition

Contributions and Grants
$2,386,451
Program Service Revenue
$61,533,573
Investment Income
$1,988,601
Other Revenue
$40,225
All Other Contributions
$2,386,451
Change in Net Assets
$-1,432,044

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 Traded2$1,011,791Market Value
Intellectual Property4$198,809Fair Market Value (FMV)
Total Noncash Contributions6$1,210,600-

Audited Revenue Reconciliation

Revenue per Audited Statements
$65,948,850
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$5,809,210
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$71,758,060
Total Revenue per Form 990
$65,948,850
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$38,799,015
Other Expenses$28,581,879
Total Fundraising Expense$5,161,107
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$23,984,770$6,355,006$1,454,915$31,794,691
Depreciation Depletion$4,754,868$1,453,180$521,958$6,730,006
Office Expenses$3,252,836$935,566$239,110$4,427,512
Fees for Services Other$2,425,021$1,767,386$140,358$4,332,765
Other Employee Benefits$1,976,768$287,458$186,949$2,451,175
Advertising$678,830$1,929$1,419,876$2,100,635
Current Officers, Directors, Trustees, and Key Employees$995,702$891,779$206,570$2,094,051
Information Technology$2,093,412$0$0$2,093,412
Payroll Taxes$1,716,250$229,718$115,369$2,061,337
Occupancy$1,527,189$346,930$167,645$2,041,764
Travel$1,185,406$101,834$29,684$1,316,924
Other Expenses$175,694$918,772$208,138$1,302,604
Interest$505,405$172,423$55,480$733,308
Pension Plan Contributions$432,914$-74,513$39,360$397,761
Insurance$0$337,429$0$337,429
Fees for Services Legal$0$162,598$0$162,598
Fees for Services Accounting$0$99,170$0$99,170
Fees for Services Lobbying$0$1,883$13,134$15,017
Total Functional Expenses$47,016,008$15,203,779$5,161,107$67,380,894

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$67,718,802
Expenses per Audited Statements$67,380,894
Total Expenses per Form 990$67,380,894
Expenses Not Reported on Form 990$337,908
Expenses Not Reported on Financial Statements$0
Other Expense Adjustments$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

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
Deposits From Students$1,274,425
Fair Value of Interest Swap$487,811

Bond Issues

BondIssuerIssuedIssue PricePurpose
CMichigan Finance Authority2017-06-01$47,038,801Advance refund on bond 2000 and 2001 and finance construction of student housing on campus
BThe EDC of the County Of Oakland Mi2014-04-29$11,980,000Construction of Student Housing
AThe EDC of the County of Oakland Mi2010-09-29$10,663,000Advance Refund Series 1998A Bonds and Note Payable

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
C$47,038,801$0$16,900,000$803,581
B$11,980,000$0$0$180,000
A$10,663,000$0$10,663,000$133,788

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
Yes
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, Part VI, Section B, Line 11B

The finance committee of the board reviews the 990 tax return and its attachments and then recommends to the board approval of the 990 tax return for the year under review. This process is documented in the minutes of both the committee and the bod minutes.

Form 990, Part VI, Section B, Line 12C

Annual signed disclosures statements are completed by the board of directors with any exceptions followed up the board as well.

Form 990, Part VI, Section B, Line 15

The board of directors is responsible for documenting the university's presidents compensation. The other compensation is completed by the university's human resources department annually.

Form 990, Part VI, Section C, Line 18

The 990 returns are available upon the request to the vp of finance or the president's office. Copies of the tax return are available in the university's library services for review as well.

Form 990, Part VI, Section C, Line 19

The 990 is available in the university's library services department.

Filing and Contact Details

Filer

Filer Name
Lawrence Technological University
EIN
38-1369604
Phone
2482044000
Address
21000 West Ten Mile Road, Southfield, MI 48075-1058

Signing Officer

Name
Linda Height
Title
VP of Finance and Admin.
Phone
2482042100
Signed
2018-01-18

Organization Details

Principal Officer
Virinder Moudgil
Formed
1932
Legal Domicile
Mi
Voting Board Members
21
Independent Board Members
20
Employees
1,500
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Consists of net investment gains, pledges, and net surplus rentals.

Financial Statement Notes

Schedule D, Part V, Line 4

The university's endowment includes both donor restricted endowment funds and funds designated by the board of directors to function as endowments. Permanently restricted funds are subjected to donor imposed restrictions that resources be maintained indefinitely, but permits the university to use or expend part or all of the income derived from the donated assets. Temporary restricted are subjected to donor imposed restrictions that permit the university to use or expend the asset either by the passage of time or other actions by the university. Board designated funds are neither permanently restricted or temporary restricted by donor imposed stipulations. These funds may be designated for specific purposes by action of the board.

Schedule D, Part XI, Line 2D

Consists of net rental income from held properties.

Schedule D, Part XII, Line 2D

Consists of expenses on rental properties.

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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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IRS990/Desc0Higher Education : Associates, Baccalaureate, Graduate Program Services were provided to 3,638 students and 999 received degrees. This activity contributes importantly to the University's purpose by providing funding for educational services at less than the aggregate costs of these services. This is the exempt purpose of the University.
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IRS990/Form990PartVIISectionAGrp/PersonNm0Victor A Saroki
IRS990/Form990PartVIISectionAGrp/PersonNm1Virinder Moudgil
IRS990/Form990PartVIISectionAGrp/PersonNm2Lauren L Bowler
IRS990/Form990PartVIISectionAGrp/PersonNm3Raymond Khan
IRS990/Form990PartVIISectionAGrp/PersonNm4Howard B Padgham
IRS990/Form990PartVIISectionAGrp/PersonNm5John G Petty
IRS990/Form990PartVIISectionAGrp/PersonNm6Lloyd E Reuss
IRS990/Form990PartVIISectionAGrp/PersonNm7Joseph E Champagne
IRS990/Form990PartVIISectionAGrp/PersonNm8David B Wohleen
IRS990/Form990PartVIISectionAGrp/PersonNm9Douglas E Ebert
IRS990/Form990PartVIISectionAGrp/PersonNm10Frederick M Adams Jr
IRS990/Form990PartVIISectionAGrp/PersonNm11Barbara Samardzich
IRS990/Form990PartVIISectionAGrp/PersonNm12Elizabeth Howell
IRS990/Form990PartVIISectionAGrp/PersonNm13Larry D Lyons
IRS990/Form990PartVIISectionAGrp/PersonNm14Marcy Klevorn
IRS990/Form990PartVIISectionAGrp/PersonNm15Vincent G Dow
IRS990/Form990PartVIISectionAGrp/PersonNm16John G Smith
IRS990/Form990PartVIISectionAGrp/PersonNm17Daniel W Winey
IRS990/Form990PartVIISectionAGrp/PersonNm18Cary B Wood
IRS990/Form990PartVIISectionAGrp/PersonNm19Mary Ann Wright
IRS990/Form990PartVIISectionAGrp/PersonNm20JEAN MEYER
IRS990/Form990PartVIISectionAGrp/PersonNm21Linda Height
IRS990/Form990PartVIISectionAGrp/PersonNm22KRISTEN DEVRIES
IRS990/Form990PartVIISectionAGrp/PersonNm23Nabil Grace
IRS990/Form990PartVIISectionAGrp/PersonNm24Maria Vaz
IRS990/Form990PartVIISectionAGrp/PersonNm25KARL DAUBMANN
IRS990/Form990PartVIISectionAGrp/PersonNm26Joseph Veryser
IRS990/Form990PartVIISectionAGrp/PersonNm27Lisa Kujawa
IRS990/Form990PartVIISectionAGrp/PersonNm28Hsiao-Ping H Moore
IRS990/Form990PartVIISectionAGrp/PersonNm29Timothy Chavis
IRS990/Form990PartVIISectionAGrp/PersonNm30Bahman Mirshab
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt1President
IRS990/Form990PartVIISectionAGrp/TitleTxt2Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt3Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt4Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt5Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt8Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt9CHAIRMAN OF THE BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt10Board Member

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$205$79.2$126$81.7$86.2$4.48
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$206$79.6$127$77.2$79.0$1.78
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$221$80.0$141$73.3$71.1$2.17
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$213$85.4$128$70.8$71.4$0.55
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$215$88.1$127$66.5$70.4$3.97
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$213$83.3$129$64.8$67.6$2.76
2017Detailed filing. Detailed filing data is available for this year.$212$81.6$131$65.9$67.4$1.43
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$186$59.0$127$70.0$64.6$5.39
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$179$57.4$122$73.6$62.4$11.2
2014Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$160$46.4$113$87.7$57.7$30.0
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$122$45.5$76.8$55.1$56.4$1.25
2012Summary only. Only limited summary data is available for this year.$127$50.3$76.4$55.5$55.1$0.39
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$131$52.6$78.2$54.1
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$120$48.2$71.7$57.0