Civic Intelligence

Thomas Aquinas College

990 • Fiscal year 2022 • EIN 94-1698615

Jul 01, 2021 to Jun 30, 2022 • Filed on Jul 19, 2023

10000 Ojai RoadSanta Paula, CA 93060

(805) 525-4417

Siviq Scores

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

Liabilities / Assets

28th percentile

0.11x

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

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Liabilities / Revenue

47th percentile

0.41x

Higher debt load relative to revenue than 47% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Net Margin

24th percentile

-2.5%

Higher net margin than 24% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Top Officer Pay

11th percentile

$191,566

Higher top officer pay than 11% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Asset Growth

45th percentile

-3.1%

Faster asset growth than 45% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Revenue Growth

19th percentile

-13%

Faster revenue growth than 19% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Assets

Down

$141,655,485

Down $4,510,407 (-3.1%) from 2021

Net Assets

Down

$126,735,278

Down $6,768,991 (-5.1%) from 2021

Liabilities

Up

$14,920,207

Up $2,258,584 (+18%) from 2021

Revenue

Down

$36,779,950

Down $5,484,713 (-13%) from 2021

Expenses

Up

$37,701,711

Up $5,349,473 (+17%) from 2021

Net Income

Down

-$921,761

Down $10,834,186 (-109%) from 2021

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2010: $71,785,236Liabilities 2010: $10,241,969Net Assets 2010: $61,543,2672010Assets 2011: $73,754,179Liabilities 2011: $10,436,635Net Assets 2011: $63,317,5442011Assets 2012: $72,229,202Liabilities 2012: $10,344,494Net Assets 2012: $61,884,7082012Assets 2013: $75,059,041Liabilities 2013: $10,811,999Net Assets 2013: $64,247,0422013Assets 2014: $77,506,580Liabilities 2014: $11,253,671Net Assets 2014: $66,252,9092014Assets 2015: $85,441,742Liabilities 2015: $10,383,697Net Assets 2015: $75,058,0452015Assets 2016: $85,107,718Liabilities 2016: $10,398,475Net Assets 2016: $74,709,2432016Assets 2017: $116,402,206Liabilities 2017: $11,770,924Net Assets 2017: $104,631,2822017Assets 2018: $130,098,714Liabilities 2018: $11,076,316Net Assets 2018: $119,022,3982018Assets 2019: $138,498,095Liabilities 2019: $14,215,271Net Assets 2019: $124,282,8242019Assets 2020: $136,623,649Liabilities 2020: $17,058,063Net Assets 2020: $119,565,5862020Assets 2021: $146,165,892Liabilities 2021: $12,661,623Net Assets 2021: $133,504,2692021Assets 2022: $141,655,485Liabilities 2022: $14,920,207Net Assets 2022: $126,735,2782022Assets 2023: $144,911,282Liabilities 2023: $19,543,110Net Assets 2023: $125,368,1722023Assets 2024: $143,266,089Liabilities 2024: $19,215,421Net Assets 2024: $124,050,6682024

Highlighted filing

2022

Assets$141,655,485
Liabilities$14,920,207
Net Assets$126,735,278

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2010: $17,000,8242010Expenses 2011: $17,436,0652011Revenue 2012: $16,329,275Expenses 2012: $18,046,142Net Income 2012: -$1,716,8672012Expenses 2013: $19,013,0442013Revenue 2014: $20,040,997Expenses 2014: $19,720,907Net Income 2014: $320,0902014Revenue 2015: $28,819,461Expenses 2015: $19,790,919Net Income 2015: $9,028,5422015Revenue 2016: $19,281,408Expenses 2016: $20,490,328Net Income 2016: -$1,208,9202016Revenue 2017: $49,765,831Expenses 2017: $21,238,917Net Income 2017: $28,526,9142017Revenue 2018: $36,023,629Expenses 2018: $22,525,456Net Income 2018: $13,498,1732018Revenue 2019: $29,007,138Expenses 2019: $25,415,013Net Income 2019: $3,592,1252019Revenue 2020: $24,709,172Expenses 2020: $28,761,005Net Income 2020: -$4,051,8332020Revenue 2021: $42,264,663Expenses 2021: $32,352,238Net Income 2021: $9,912,4252021Revenue 2022: $36,779,950Expenses 2022: $37,701,711Net Income 2022: -$921,7612022Revenue 2023: $36,069,234Expenses 2023: $40,705,228Net Income 2023: -$4,635,9942023Revenue 2024: $37,182,598Expenses 2024: $41,124,135Net Income 2024: -$3,941,5372024

Highlighted filing

2022

Revenue$36,779,950
Expenses$37,701,711
Net Income-$921,761
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Jul 19, 2023
Return Version
2021v4.2
Gross Receipts
$40,441,145
Mission and Program Overview

Mission

Thomas aquinas college is an institution that has faithfully pursued, articulated and defended a single, well-defined mission throughout its 44 years of existence. That mission is stated well in its self-study: to provide for the "liberal education of students according to the natural power of reason by the light of the catholic faith."

Post secondary education-educational activities

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$91,424,346$95,696,474▲ $4,272,128
Investments in Publicly Traded Securities$38,302,681$32,098,603▼ $6,204,078
Savings and Temporary Cash Investments$6,237,920$3,830,539▼ $2,407,381
Pledges and Grants Receivable$2,880,431$3,123,152▲ $242,721
Prepaid Expenses and Deferred Charges$852,156$1,458,949▲ $606,793
Investments Other Securities$1,174,995$1,083,430▼ $91,565
Cash and Non-Interest-Bearing Accounts$2,085,178$611,424▼ $1,473,754
Accounts Receivable$601,191$437,172▼ $164,019
Other Notes and Loans Receivable, Net$302,963$349,977▲ $47,014
Inventories for Sale or Use$56,463$95,880▲ $39,417
Total Assets$146,165,892$141,655,485▼ $4,510,407
Other Assets Total$2,247,568$2,869,885▲ $622,317
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,021,398$8,600,000▲ $1,578,602
Accounts Payable and Accrued Expenses$2,435,436$3,014,659▲ $579,223
Other Liabilities$1,767,209$1,891,722▲ $124,513
Deferred Revenue$1,437,580$1,413,826▼ $23,754
Total Liabilities$12,661,623$14,920,207▲ $2,258,584
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$93,013,147$94,091,818▲ $1,078,671
Net Assets With Donor Restrictions$40,491,122$32,643,460▼ $7,847,662
Total Net Assets Fund Balance$133,504,269$126,735,278▼ $6,768,991
Total Liabilities and Net Assets / Fund Balance$146,165,892$141,655,485▼ $4,510,407

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$83,393,907$36,604,701$119,998,608
Land$10,039,815-$10,039,815
Equipment$2,120,664$6,612,981$8,733,645
Other Land Buildings$142,088$576,144$718,232

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$32,002,601$3,765,046▼ $4,999,190$28,078$29,370,705
2020$25,165,115$3,688,125▲ $4,336,320$35,005$32,002,601
2019$25,271,321$1,124,167▲ $78,373$59,802$25,165,115
2018$24,149,822$254,538▲ $2,068,383$41,430$25,271,321
2017$22,505,507$1,402,612▲ $1,380,674$38,078$24,149,822
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jesse John BaerTutorFT$153,188$38,378$191,566
John GoyetteBoard Member, Sp DeanFT$144,460$38,752$183,212
PAUL O'REILLYBoard Member, VP for AdvancementFT$144,286$38,752$183,038
Jon DalyDirector of AdmissionsFT$142,596$38,376$180,972
Patrick GardnerTutorFT$140,503$37,823$178,326
Christopher WeinkopfExecutive Director of College RelationsFT$139,587$38,376$177,963
Christopher WeinkopfExecutive Director of College Relati-$139,587$38,376$177,963
Marco EmersonTutorFT$139,587$37,439$177,026
Dennis MccarthyVP of Finance, TreasurerFT$130,388$37,408$167,796
Brian T KellyBoard Member, SecretaryFT$126,264$38,372$164,636
Thomas J KaiserBoard Member, Nf DeanFT$127,999$30,635$158,634
Michael F McleanBoard Member, College PresFT$128,519$30,003$158,522
R Glen CoughlinBoard Member, TutorFT$116,800$38,222$155,022
Peter L Deluca IiiBoard Member, TutorPT$25,310$606$25,916

Board Members and Trustees

NameTitle
R Scott TuricchiBoard Member, Chairman
Dieter HuckesteinBoard Member, Vice Chairma
Andrew W ZepedaBoard Member
Angela Y ConnellyBoard Member
Bernarda NealBoard Member
Donald E SwartzBoard Member
Esther WachtellBoard Member
John GuineeBoard Member
Lloyd Noble IiBoard Member
Mark E MontgomeryBoard Member
Martha ReichertBoard Member
Michael K GraceBoard Member
Milton F Daily JrBoard Member
R James WensleyBoard Member
Richard SpencerBoard Member
Robert J BarberaBoard Member
Thomas R KrauseBoard Member
Robert W AndrewsBoard Member,
John W NeumayrBoard Member, College VP

Highest Paid Contractors

ContractorServicesLocationCompensation
Wiggin Hydroseed LandscapeHydroseedling76 ASHUELOT RD, Northfield, MA 01360$780,120
Eli PaintingPainting49 SILVER STREET, Greenfield, MA 01301$257,600
Robert Hubbard PlumbingPlumbing4 HASTINGS HEIGHTS ROAD, Warwick, MA 01378$129,112
Donald Damian JrFloor Coverings322 FRANKLIN ROAD, Vernon, VT 05354$105,454
Revenue and Support

Revenue Composition

Contributions and Grants
$18,061,601
Program Service Revenue
$17,494,354
Investment Income
$582,527
Other Revenue
$641,468
All Other Contributions
$15,706,028
Change in Net Assets
$-921,761

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 Traded13$443,566Fair Market Value (FMV)
Other Non Cash Contri Table1$25,000Fair Market Value (FMV)
Books and Publications-$12,346Fair Market Value (FMV)
Other Non Cash Contri Table21$9,426Fair Market Value (FMV)
Clothing and Household Goods-$4,119Fair Market Value (FMV)
Cars and Other Vehicles1$1,000Fair Market Value (FMV)
Total Noncash Contributions36$495,457-

Audited Revenue Reconciliation

Revenue per Audited Statements
$36,927,640
Revenue Not Reported on Financial Statements
$-147,690
Revenue Not Reported on Form 990
$-5,846,203
Total Revenue per Audited Statements
$31,081,437
Total Revenue per Form 990
$36,779,950
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$19,408,837
Other Expenses$15,113,075
Grants and Similar Amounts Paid$3,062,258
Total Fundraising Expense$1,153,368
Professional Fundraising Fees$117,541

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$11,819,750$2,314,397$342,558$14,476,705
Depreciation Depletion$3,020,970$332,800-$3,353,770
Grants to Domestic Individuals$3,062,258--$3,062,258
Occupancy$2,748,779$277,371$32,773$3,058,923
Other Employee Benefits$2,738,395$263,891$41,255$3,043,541
Fees for Services Other$1,477,979$422,779$89,193$1,989,951
Insurance$1,126,857$183,114-$1,309,971
Payroll Taxes$785,153$190,444$29,867$1,005,464
Office Expenses$498,079$225,069$112,489$835,637
All Other Expenses$502,500$227,808$61,668$791,976
Pension Plan Contributions$345,267$124,473$19,318$489,058
Current Officers, Directors, Trustees, and Key Employees$171,135$175,071$47,863$394,069
Travel$164,995$48,152$102,066$315,213
Interest$194,481$21,609-$216,090
Conferences and Meetings$116,927-$44,855$161,782
Information Technology$36,332-$84,200$120,532
Fees for Services Professional Fundraising--$117,541$117,541
Advertising$100,323-$12,695$113,018
Fees for Services Accounting$6,883$60,676-$67,559
Other Expenses$52,775$1,808$4,579$59,162
Fees for Services Legal$10,980$32,941$1,121$45,042
Total Functional Expenses$31,444,495$5,103,848$1,153,368$37,701,711

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$37,850,428
Total Expenses per Form 990$37,701,711
Expenses per Audited Statements$37,701,708
Expenses Not Reported on Form 990$148,720
Expenses Not Reported on Financial Statements$3
Other Expense Adjustments$3
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$117,541
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Annuities$947,173
Charitable Remainder Unitrust$696,831
Ochal Trust$137,561
Mcgee Trust$110,157
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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
No
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

The 990 is prepared by the accountant, reviewed by the vice-president for finance, vice-president for development and selected board members.

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

The policy is self-monitored, and any questions regarding conflict of interest are reviewed by the vice president for finance and the president.

Form 990, Part VI, Section B, Line 15

The president and all tutors (professors) are members of the faculty and paid on the faculty salary scale with no adjustments for their position. The faculty scale is reviewed and approved annually by the board of governors.

Form 990, Part VI, Section C, Line 19

Upon request, the college will provide copies of its financial statements, conflict of interest policy, and governing documents.

Filing and Contact Details

Filer

Filer Name
Thomas Aquinas College
EIN
94-1698615
Phone
8055254417
Address
10000 OJAI ROAD, SANTA PAULA, CA 93060

Signing Officer

Name
Dennis Mccarthy
Title
Treasurer
Phone
8055254417
Signed
2023-07-19

Organization Details

Principal Officer
Dennis Mccarthy
Formed
1971
Legal Domicile
CA
Voting Board Members
26
Independent Board Members
18
Employees
694
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part V, Line 3B

Form will be filed by october 16, 2023.

FORM 990, PART XI, LINE 9:

ROUNDING 3.

Financial Statement Notes

PART III, LINE 4:

Our library collection includes works of art, historical artifacts, and books and manuscripts that are related to our program of studies. The books and manuscripts, for example, are typically early edition in the original languages of the books we read in our program of studies. These items allow professors and students to review the works in their original form. The works of art and other historical artifacts provide students and professors with a sense of context for the readings in the program.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

ROUNDING

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Cogs as expense in audited financials

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Cogs as expense in audited financials

PART XII, LINE 4B - OTHER ADJUSTMENTS:

ROUNDING 3.

Raw XML AppendixShowing 400 of 1,092 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/Form990PartVIISectionAGrp/PersonNm1R JAMES WENSLEY
IRS990/Form990PartVIISectionAGrp/PersonNm2ESTHER WACHTELL
IRS990/Form990PartVIISectionAGrp/PersonNm3DONALD E SWARTZ
IRS990/Form990PartVIISectionAGrp/PersonNm4LLOYD NOBLE II
IRS990/Form990PartVIISectionAGrp/PersonNm5BERNARDA NEAL
IRS990/Form990PartVIISectionAGrp/PersonNm6MARK E MONTGOMERY
IRS990/Form990PartVIISectionAGrp/PersonNm7THOMAS R KRAUSE
IRS990/Form990PartVIISectionAGrp/PersonNm8JOHN GUINEE
IRS990/Form990PartVIISectionAGrp/PersonNm9MICHAEL K GRACE
IRS990/Form990PartVIISectionAGrp/PersonNm10MILTON F DAILY JR
IRS990/Form990PartVIISectionAGrp/PersonNm11ROBERT W ANDREWS
IRS990/Form990PartVIISectionAGrp/PersonNm12ANGELA Y CONNELLY
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IRS990/Form990PartVIISectionAGrp/PersonNm14DIETER HUCKESTEIN
IRS990/Form990PartVIISectionAGrp/PersonNm15R SCOTT TURICCHI
IRS990/Form990PartVIISectionAGrp/PersonNm16R GLEN COUGHLIN
IRS990/Form990PartVIISectionAGrp/PersonNm17THOMAS J KAISER
IRS990/Form990PartVIISectionAGrp/PersonNm18PAUL O'REILLY
IRS990/Form990PartVIISectionAGrp/PersonNm19JOHN GOYETTE
IRS990/Form990PartVIISectionAGrp/PersonNm20BRIAN T KELLY
IRS990/Form990PartVIISectionAGrp/PersonNm21PETER L DELUCA III
IRS990/Form990PartVIISectionAGrp/PersonNm22JOHN W NEUMAYR
IRS990/Form990PartVIISectionAGrp/PersonNm23MICHAEL F MCLEAN
IRS990/Form990PartVIISectionAGrp/PersonNm24RICHARD SPENCER
IRS990/Form990PartVIISectionAGrp/PersonNm25MARTHA REICHERT
IRS990/Form990PartVIISectionAGrp/PersonNm26DENNIS MCCARTHY
IRS990/Form990PartVIISectionAGrp/PersonNm27PATRICK GARDNER
IRS990/Form990PartVIISectionAGrp/PersonNm28JON DALY
IRS990/Form990PartVIISectionAGrp/PersonNm29JESSE JOHN BAER
IRS990/Form990PartVIISectionAGrp/PersonNm30CHRISTOPHER WEINKOPF
IRS990/Form990PartVIISectionAGrp/PersonNm31MARCO EMERSON
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IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER,
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER, VICE CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER, CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER, TUTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER, NF DEAN
IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD MEMBER, VP FOR ADVANCEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt19BOARD MEMBER, SP DEAN
IRS990/Form990PartVIISectionAGrp/TitleTxt20BOARD MEMBER, SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt21BOARD MEMBER, TUTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22BOARD MEMBER, COLLEGE VP
IRS990/Form990PartVIISectionAGrp/TitleTxt23BOARD MEMBER, COLLEGE PRES
IRS990/Form990PartVIISectionAGrp/TitleTxt24BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt25BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt26VP OF FINANCE, TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt27TUTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt28DIRECTOR OF ADMISSIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt29TUTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt30EXECUTIVE DIRECTOR OF COLLEGE RELATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt31TUTOR
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/Form990TFiledInd00
IRS990/FormationYr01971
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IRS990/FSAuditedInd01
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$143$19.2$124$37.2$41.1$3.94
2023Detailed filing. Detailed filing data is available for this year.$145$19.5$125$36.1$40.7$4.64
2022Detailed filing. Detailed filing data is available for this year.$142$14.9$127$36.8$37.7$0.92
2021Detailed filing. Detailed filing data is available for this year.$146$12.7$134$42.3$32.4$9.91
2020Detailed filing. Detailed filing data is available for this year.$137$17.1$120$24.7$28.8$4.05
2019Detailed filing. Detailed filing data is available for this year.$138$14.2$124$29.0$25.4$3.59
2018Detailed filing. Detailed filing data is available for this year.$130$11.1$119$36.0$22.5$13.5
2017Detailed filing. Detailed filing data is available for this year.$116$11.8$105$49.8$21.2$28.5
2016Detailed filing. Detailed filing data is available for this year.$85.1$10.4$74.7$19.3$20.5$1.21
2015Detailed filing. Detailed filing data is available for this year.$85.4$10.4$75.1$28.8$19.8$9.03
2014Detailed filing. Detailed filing data is available for this year.$77.5$11.3$66.3$20.0$19.7$0.32
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$75.1$10.8$64.2$19.0
2012Summary only. Only limited summary data is available for this year.$72.2$10.3$61.9$16.3$18.0$1.72
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$73.8$10.4$63.3$17.4
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$71.8$10.2$61.5$17.0