Civic Intelligence

Hope College

990 • Fiscal year 2018 • EIN 38-1381271

Jul 01, 2017 to Jun 30, 2018 • Filed on May 10, 2019

141 E 12th StreetHolland, MI 49423

(616) 395-7810

Siviq Scores

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

Liabilities / Assets

28th percentile

0.15x

Higher debt load relative to assets than 28% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Liabilities / Revenue

44th percentile

0.45x

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

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Net Margin

50th percentile

5.5%

Higher net margin than 50% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Top Officer Pay

11th percentile

$313,496

Higher top officer pay than 11% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Asset Growth

44th percentile

2.5%

Faster asset growth than 44% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Revenue Growth

71st percentile

11%

Faster revenue growth than 71% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Assets

Up

$490,988,344

Up $12,052,083 (+2.5%) from 2017

Net Assets

Up

$416,573,780

Up $20,782,180 (+5.3%) from 2017

Liabilities

Down

$74,414,564

Down $8,730,097 (-10%) from 2017

Revenue

Up

$163,936,373

Up $16,165,158 (+11%) from 2017

Expenses

Up

$154,921,818

Up $2,434,349 (+1.6%) from 2017

Net Income

Up

$9,014,555

Up $13,730,809 (+291%) from 2017

Historical Trend

Balance Sheet Trend

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

$600M$400M$200M$0Assets 2010: $370,634,160Liabilities 2010: $105,676,421Net Assets 2010: $264,957,7392010Assets 2011: $392,694,322Liabilities 2011: $98,681,914Net Assets 2011: $294,012,4082011Assets 2012: $406,720,486Liabilities 2012: $107,623,203Net Assets 2012: $299,097,2832012Assets 2013: $433,428,447Liabilities 2013: $99,591,613Net Assets 2013: $333,836,8342013Assets 2014: $472,505,234Liabilities 2014: $98,383,185Net Assets 2014: $374,122,0492014Assets 2015: $482,846,633Liabilities 2015: $94,683,782Net Assets 2015: $388,162,8512015Assets 2016: $464,019,780Liabilities 2016: $91,670,101Net Assets 2016: $372,349,6792016Assets 2017: $478,936,261Liabilities 2017: $83,144,661Net Assets 2017: $395,791,6002017Assets 2018: $490,988,344Liabilities 2018: $74,414,564Net Assets 2018: $416,573,7802018Assets 2019: $496,373,575Liabilities 2019: $74,132,228Net Assets 2019: $422,241,3472019Assets 2020: $493,947,019Liabilities 2020: $70,872,669Net Assets 2020: $423,074,3502020Assets 2021: $580,555,530Liabilities 2021: $67,194,760Net Assets 2021: $513,360,7702021Assets 2022: $551,187,354Liabilities 2022: $58,394,179Net Assets 2022: $492,793,1752022Assets 2023: $556,663,135Liabilities 2023: $52,292,539Net Assets 2023: $504,370,5962023Assets 2024: $567,271,858Liabilities 2024: $50,548,874Net Assets 2024: $516,722,9842024

Highlighted filing

2018

Assets$490,988,344
Liabilities$74,414,564
Net Assets$416,573,780

Operations Trend

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

$300M$200M$100M$0-$100MExpenses 2010: $120,579,9062010Expenses 2011: $122,599,0082011Expenses 2012: $126,212,3702012Revenue 2013: $150,071,399Expenses 2013: $131,467,018Net Income 2013: $18,604,3812013Revenue 2014: $170,646,891Expenses 2014: $136,952,323Net Income 2014: $33,694,5682014Revenue 2015: $169,049,806Expenses 2015: $144,182,311Net Income 2015: $24,867,4952015Revenue 2016: $150,003,655Expenses 2016: $150,252,829Net Income 2016: -$249,1742016Revenue 2017: $147,771,215Expenses 2017: $152,487,469Net Income 2017: -$4,716,2542017Revenue 2018: $163,936,373Expenses 2018: $154,921,818Net Income 2018: $9,014,5552018Revenue 2019: $161,497,476Expenses 2019: $157,849,940Net Income 2019: $3,647,5362019Revenue 2020: $161,551,169Expenses 2020: $154,963,019Net Income 2020: $6,588,1502020Revenue 2021: $186,977,836Expenses 2021: $164,101,083Net Income 2021: $22,876,7532021Revenue 2022: $188,512,497Expenses 2022: $176,485,315Net Income 2022: $12,027,1822022Revenue 2023: $181,670,045Expenses 2023: $187,171,727Net Income 2023: -$5,501,6822023Revenue 2024: $189,367,757Expenses 2024: $201,600,333Net Income 2024: -$12,232,5762024

Highlighted filing

2018

Revenue$163,936,373
Expenses$154,921,818
Net Income$9,014,555
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 10, 2019
Return Version
2017v2.3
Gross Receipts
$230,427,173
Mission and Program Overview

Mission

The mission of hope college is to educate students for lives of leadership and service in a global society through academic and co-curricular programs of recognized excellence in the liberal arts and in the context of the historic christian faith.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$211,897,373$208,339,753▼ $3,557,620
Investments Other Securities$148,943,020$146,321,203▼ $2,621,817
Investments in Publicly Traded Securities$68,700,086$76,805,330▲ $8,105,244
Savings and Temporary Cash Investments$25,103,193$32,570,969▲ $7,467,776
Pledges and Grants Receivable$13,556,269$13,676,110▲ $119,841
Accounts Receivable$8,607,056$11,220,877▲ $2,613,821
Prepaid Expenses and Deferred Charges$1,299,608$1,427,893▲ $128,285
Inventories for Sale or Use$753,024$624,821▼ $128,203
Total Assets$478,936,261$490,988,344▲ $12,052,083
Other Assets Total$76,632$1,388▼ $75,244
Liabilities
Tax Exempt Bond Liabilities$45,412,723$41,850,000▼ $3,562,723
Other Liabilities$33,589,883$25,749,737▼ $7,840,146
Accounts Payable and Accrued Expenses$4,033,984$6,558,323▲ $2,524,339
Deferred Revenue$108,071$256,504▲ $148,433
Total Liabilities$83,144,661$74,414,564▼ $8,730,097
Net Assets / Fund Balance
Unrestricted Net Assets$201,896,556$207,825,213▲ $5,928,657
Permanently Rstr Net Assets$143,120,475$147,190,304▲ $4,069,829
Temporarily Rstr Net Assets$50,774,569$61,558,263▲ $10,783,694
Total Net Assets Fund Balance$395,791,600$416,573,780▲ $20,782,180
Total Liabilities and Net Assets / Fund Balance$478,936,261$490,988,344▲ $12,052,083

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$170,890,660$99,139,456$270,030,116
Equipment$11,131,249$24,202,169$35,333,418
Land$25,475,740-$25,475,740
Other Land Buildings$842,104-$842,104
Other Securities$82,892,661--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$213,248,455$5,147,917▲ $19,211,320$9,936,476$227,671,216
2017$193,868,484$4,071,931▲ $24,122,917$8,814,877$213,248,455
2016$211,786,418$4,224,831▼ $13,749,987$8,392,778$193,868,484
2015$206,199,053$5,730,924▲ $7,702,829$7,846,388$211,786,418
2014$175,036,306$9,937,514▲ $28,400,349$7,175,116$206,199,053
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Richard J PuckettVP for DevelopmentFT$236,419$77,077$313,496
Thomas BylsmaCFOFT$197,000$79,198$276,198
John C KnappFormer President-$189,653$72,985$262,638
William VanderbiltVP for AdmissionsFT$179,392$39,174$218,566
Richard a FrostVP for Student DevelopmentFT$156,694$37,874$194,568
Jennifer FellingerVP for Public Affairs/marketingFT$148,750$35,554$184,304
Greg MayburyDirector of Physical PlantFT$144,791$37,645$182,436
David VanwylenDean - Natural ScienceFT$140,939$31,486$172,425
William a PannapackerFacultyFT$141,911$30,119$172,030
Cady Short ThompsonProvostFT$160,500$9,522$170,022
Dennis VoskuilInterim PresidentFT$139,778$17,502$157,280
Karen Nordell-pearsonFormer Interim-provost-$133,850$22,049$155,899
Sonja Trent-brownTrustee/professorFT$102,882$25,067$127,949
Brent KruegerTrustee/professorFT$85,250$24,420$109,670
Douglas C RuchTrusteePT$25,236-$25,236

Highest Paid Contractors

ContractorServicesLocationCompensation
Creative Dining ServiceFood Service ManagementONE ROYAL PARK DRIVE SUITE 3, Zeeland, MI 49464$10,797,164
Granger ConstructionConstruction Services940 MONROE AVE NW SUITE 142, Grand Rapids, MI 49503$1,199,929
Majestic Painting And Finishing LLCInterior And Exterior Remodeling4162 E PONTALUNA RD, Fruitport, MI 49415$437,347
Cambridge Associates LLCInvestment Consultant125 HIGH STREET, Boston, MA 02110$430,644
Midwest Collaborative For Library ServicLibrary Services1407 RENSEN ST SUITE 1, Lansing, MI 48910$331,087
Revenue and Support

Revenue Composition

Contributions and Grants
$16,800,302
Program Service Revenue
$133,748,548
Investment Income
$12,097,584
Other Revenue
$1,289,939
All Other Contributions
$12,411,277
Change in Net Assets
$9,014,555

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 Traded71$423,639Nyse - Fair Market Value (FMV)
Works of Art7$232,770Fair Market Value (FMV)
Other Non Cash Contri Table3$21,400Fair Market Value (FMV)
Other Non Cash Contri Table1$4,485Fair Market Value (FMV)
Other Non Cash Contri Table2$764Fair Market Value (FMV)
Total Noncash Contributions84$683,058-

Audited Revenue Reconciliation

Revenue per Audited Statements
$126,927,749
Revenue Not Reported on Financial Statements
$37,008,624
Revenue Not Reported on Form 990
$11,791,523
Other Revenue Adjustments
$35,145,979
Total Revenue per Audited Statements
$138,719,272
Total Revenue per Form 990
$163,936,373
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$64,530,205
Other Expenses$55,245,634
Grants and Similar Amounts Paid$35,145,979
Total Fundraising Expense$3,837,679
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$44,168,236$3,866,021$2,019,411$50,053,668
Grants to Domestic Individuals$33,698,921--$33,698,921
Depreciation Depletion$8,609,730$1,031,626-$9,641,356
Other Employee Benefits$5,081,300$473,290$245,760$5,800,350
All Other Expenses$4,122,592$378,317$6,029$4,506,938
Travel$3,698,831$86,069$266,635$4,051,535
Occupancy$3,865,987$121,800$60,835$4,048,622
Pension Plan Contributions$3,463,212$314,970$190,006$3,968,188
Office Expenses$3,358,853$222,541$142,369$3,723,763
Payroll Taxes$3,030,120$262,533$135,857$3,428,510
Fees for Services Other$2,317,834$335,214$183,380$2,836,428
Fees for Service Investment Mgmnt Fees-$1,862,645-$1,862,645
Interest$1,488,574$151,358$27,005$1,666,937
Other Expenses$1,579,173$43,629$19,116$1,641,918
Foreign Grants$1,447,058--$1,447,058
Information Technology$1,284,329$123,941$14,934$1,423,204
Current Officers, Directors, Trustees, and Key Employees$1,183,872$63,767$31,850$1,279,489
Advertising$517,405$199,718$174,938$892,061
Conferences and Meetings$332,031$303,872$4,036$639,939
Insurance$367,099$217,551$3,256$587,906
Fees for Services Legal$110$113,099-$113,209
Fees for Services Accounting$13,200$96,000-$109,200
Total Functional Expenses$140,409,006$10,675,133$3,837,679$154,921,818

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$154,921,818
Total Expenses per Audited Statements$117,939,092
Expenses per Audited Statements$117,913,194
Expenses Not Reported on Financial Statements$37,008,624
Other Expense Adjustments$35,145,979
Expenses Not Reported on Form 990$25,898
International Activity

International Summary

Offices
0
Employees
0
Spending
$2,718,457

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (including Iceland & Greenland)Direct Foreign InvestmentN/a00$687,156
East Asia and the PacificScholarshipsN/a00$560,480
EuropeProgram ServicesOff Campus Enrichment, Research00$434,623
Sub-saharan AfricaScholarshipsN/a00$421,684
Central America and the CaribbeanScholarshipsN/a00$136,926
Europe (including Iceland & Greenland)ScholarshipsN/a00$104,618
East Asia & PacificProgram ServicesOff Campus Enrichment, Recruitment00$89,291
South AmericaScholarshipsN/a00$79,490
Middle East and North AfricaScholarshipsN/a00$44,185
South AsiaScholarshipsN/a00$39,000
North AmericaScholarshipsN/a00$35,675
North AmericaProgram ServicesOff Campus Enrichment00$26,299
Russia and Neighboring StatesScholarshipsN/a00$25,000
Sub-saharan AfricaProgram ServicesOff Campus Enrichment00$24,404
South AmericaProgram ServicesOff Campus Enrichment00$9,626
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
Accumulated Post-retirement Benefits$8,040,532
Annuities Payable & Trusts$6,776,160
Refundable Federal Perkins Loan Advances$5,696,225
Interest Rate Swap$2,738,873
Students and Other Deposits$2,497,947

Bond Issues

BondIssuerIssuedIssue PricePurpose
DMichigan Finance Authority2013-08-08$16,255,000SEE PART VI
AMichigan Finance Authority2015-05-25$13,940,000SEE PART VI
CMichigan Finance Authority2012-03-28$11,220,000SEE PART VI
AMichigan Finance Authority2010-12-17$10,200,000SEE PART VI
BThe Economic Development Corporation of the County of Ottawa2011-12-14$10,000,000SEE PART VI

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
D$16,255,000$16,255,000$3,315,000-
A$13,940,000$13,940,000$2,895,000-
C$11,220,000$6,220,000$70,000-
A$10,200,000$10,200,000$7,650,000$1,040
B$10,000,000$9,998,960$5,835,000-

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
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
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

Members of the audit and compliance committee of the board of trustees are provided with a reasonable opportunity to review and comment to executive leadership on the form 990 of hope college before it is filed with the internal revenue service. Further, the executive leadership of hope college provides the minutes of the audit and compliance committee form 990 review to the board of trustees showing an overview of the highlights at the next regularly scheduled board meeting following the filing of the form 990.

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

Members of the board of trustees prepare and sign conflict statements annually. These statements are reviewed and provided to trustee members at the october board of trustee meeting to ensure compliance with the conflict policy. Members of the committee with a personal involvement in a particular decision will excuse themselves from discussion leading to a decision and from the decision itself, and this disclosure and absence will be noted in the minutes of the meeting.

Form 990, Part VI, Section B, Line 15

The board of trustees (bot) approves a recommended compensation increase brought to the bot from the cfo. The compensation increase is highly correlated to the tuition increase approved for the following academic year. The rates recommended are determined by looking at the following factors: cost of living (cpi), cupa (college and university personnel association) surveys, and the lakeshore human resources management association surveys - which is a chapter of the society of human resources management (shrm). Since we are not a union" school we do not have deliberation but if discussion does occur during the bot approval process, it would be documented in the bot minutes for that specific meeting. The ceo's (president's) compensation is based upon a recommendation from the compensation committee of the board of trustees and is then approved by the full board of trustees. Comparison data is used along with evaluation of performance in their decision.

Form 990, Part VI, Section C, Line 18

The organization makes form 990 available upon request.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents available upon request.

Filing and Contact Details

Filer

Filer Name
Hope College
EIN
38-1381271
Phone
6163957810
Address
141 E 12TH STREET, HOLLAND, MI 49423

Signing Officer

Name
Douglas Vandyken
Title
Vice President, CFO
Phone
6163957810
Signed
2019-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas Bylsma
Formed
1866
Legal Domicile
Mi
Voting Board Members
33
Independent Board Members
29
Employees
3,395
Volunteers
29

Preparer

Firm
Plante & Moran Pllc
Address
750 TRADE CENTRE WAY STE 300, PORTAGE, MI 49002
Preparer
Vicki L Vandenberg CPA
Phone
2695674587
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in value of split interest agreement -629,621. Change in value of postretirement liability 1,065,546. Change in value of swap agreements 1,677,810. Rounding adjustment 829.

FORM 990, PART XII, LINE 2C:

The oversight process for the audit has not changed since last year.

Financial Statement Notes

PART III, LINE 4:

Hope college, through the construction (2004-05) of the martha miller center for international communications, has purchased $79,000 in pieces of art that are on permanent display in this building. In fall of 2015, hope college opened the kruizenga art museum. Strategic pieces of art were purchased to put on display in the art gallery which will assist the college's art, history, and cultural heritage curriculum.

PART V, LINE 4:

The endowment fund of hope college is used to support the ongoing mission of the college by providing annual resources that assist with scholarship, faculty development, academic support, research, student services, facility maintenance, and other program support.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in value of split interest agreement -629,621. Change in value of swap agreements 1,677,810. Change in value of postretirement liability 1,065,546. Rounding adjustment to tie with audit -1,171.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Institutional scholarships & fellowships 35,145,979.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Institutional scholarships & fellowships 35,145,979.

Raw XML AppendixShowing 400 of 1,574 raw XML fields

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/ActivityOrMissionDesc0THE MISSION OF HOPE COLLEGE IS TO EDUCATE STUDENTS FOR LIVES OF LEADERSHIP AND SERVICE IN A GLOBAL SOCIETY THROUGH ACADEMIC AND CO-CURRICULAR PROGRAMS OF RECOGNIZED EXCELLENCE IN THE LIBERAL ARTS AND IN THE CONTEXT OF THE HISTORIC CHRISTIAN FAITH.
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IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt1GRANGER CONSTRUCTION
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt2MAJESTIC PAINTING AND FINISHING LLC
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt3CAMBRIDGE ASSOCIATES LLC
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IRS990/ContractorCompensationGrp/ServicesDesc2INTERIOR AND EXTERIOR REMODELING
IRS990/ContractorCompensationGrp/ServicesDesc3INVESTMENT CONSULTANT
IRS990/ContractorCompensationGrp/ServicesDesc4LIBRARY SERVICES
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IRS990/Desc0THE ORGANIZATION PROVIDED COMPREHENSIVE LITERACY & SCIENCE COURSES OF STUDY TO APPROXIMATELY 3,033 FULL TIME EQUIVALENT STUDENTS IN THE FALL OF 2017 AND 2,849 IN THE SPRING OF 2018. THE ORGANIZATION WAS ALSO INVOLVED IN ADMINISTRATIVE, AUXILLARY OPERATIONS & STUDENT SERVICES TO SUPPORT THE CAMPUS.
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$567$50.5$517$189$202$12.2
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$557$52.3$504$182$187$5.50
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$551$58.4$493$189$176$12.0
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$581$67.2$513$187$164$22.9
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$494$70.9$423$162$155$6.59
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$496$74.1$422$161$158$3.65
2018Detailed filing. Detailed filing data is available for this year.$491$74.4$417$164$155$9.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$479$83.1$396$148$152$4.72
2016Detailed filing. Detailed filing data is available for this year.$464$91.7$372$150$150$0.25
2015Detailed filing. Detailed filing data is available for this year.$483$94.7$388$169$144$24.9
2014Detailed filing. Detailed filing data is available for this year.$473$98.4$374$171$137$33.7
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$433$99.6$334$150$131$18.6
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$407$108$299$126
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$393$98.7$294$123
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$371$106$265$121