Totals
- Total revenue
- $38,755,787
- Total expenses
- $42,204,101
- Contributions and grants received
- $4,383,404
- Grants paid
- $16,102,114
- Program service revenue
- $32,965,128
- Investment income
- $1,374,894
- Other revenue
- $32,361
- Total assets, end of year
- $64,213,247
- Total liabilities, end of year
- $20,865,659
- Net assets or fund balances, end of year
- $43,347,588
- Program services expenses (Part IX)
- $37,279,707
- Management and general expenses
- $3,838,389
- Fundraising expenses
- $1,086,005
- Program service expenses (Part III)
- $37,279,707
Program services were 88.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1c · Fundraising events
$12,410
-
1f · All other contributions, gifts and grants
$4,370,994
-
1g · Noncash contributions included above
$245,314
-
2a · Program service revenue: TUITION AND FEES
total $25,397,063 · related or exempt $25,397,063
-
2b · Program service revenue: AUXILLARY REVENUE
total $6,728,194 · related or exempt $6,728,194
-
2c · Program service revenue: ACTIVITIES REVENUE
total $613,275 · related or exempt $613,275
-
2d · Program service revenue: MISCELLENOUS PROGRAM REVENUE
total $226,596 · related or exempt $226,596
-
3 · Investment income
total $533,162 · excluded $533,162
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
securities $6,009,062
-
7b · Less cost or other basis and sales expenses
securities $5,167,330
-
7c · Gain or loss
securities $841,732
-
7d · Net gain or loss
total $841,732 · excluded $841,732
-
8a · Fundraising events: gross income
$2,835
-
8a · Fundraising events: contributions included on line 1c
$12,410
-
8b · Fundraising events: direct expenses
$11,779
-
8c · Net income from fundraising events
total -$8,944 · excluded -$8,944
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$146,109
-
10b · Cost of goods sold
$108,656
-
10c · Net income from sales of inventory
total $37,453 · related or exempt $37,453
-
11a · Other revenue: HOSPITALITY
total $3,852 · unrelated business $3,852
-
11e · Other revenue, total
$3,852
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $16,102,114 · program services $16,102,114
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $1,517,362 · program services $409,688 · management and general $925,591 · fundraising $182,083
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $10,074,747 · program services $9,067,273 · management and general $705,232 · fundraising $302,242
-
8 · Pension plan contributions
total $301,027 · program services $240,822 · management and general $48,164 · fundraising $12,041
-
9 · Other employee benefits
total $1,499,454 · program services $1,199,563 · management and general $239,913 · fundraising $59,978
-
10 · Payroll taxes
total $819,035 · program services $655,228 · management and general $131,046 · fundraising $32,761
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $143,241 · management and general $143,241
-
11c · Fees: accounting
total $85,200 · management and general $85,200
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $201,315 · fundraising $201,315
-
11f · Fees: investment management
total $115,172 · management and general $115,172
-
11g · Fees: other
total $3,643,288 · program services $3,096,794 · management and general $473,627 · fundraising $72,867
-
12 · Advertising and promotion
total $42,810 · program services $33,583 · management and general $9,227
-
13 · Office expenses
total $1,263,873 · program services $961,639 · management and general $240,018 · fundraising $62,216
-
14 · Information technology
total $1,257,738 · program services $931,769 · management and general $271,140 · fundraising $54,829
-
15 · Royalties
total $0
-
16 · Occupancy
total $976,536 · program services $925,413 · management and general $47,259 · fundraising $3,864
-
17 · Travel
total $688,414 · program services $565,463 · management and general $63,859 · fundraising $59,092
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $120,898 · program services $102,265 · management and general $12,097 · fundraising $6,536
-
20 · Interest
total $210,111 · program services $202,757 · management and general $6,093 · fundraising $1,261
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $1,984,960 · program services $1,915,486 · management and general $57,564 · fundraising $11,910
-
23 · Insurance
total $303,292 · program services $85,217 · management and general $218,075
-
24a · Other expenses: MAINTENANCE EXPENSE
total $463,909 · program services $450,067 · management and general $12,790 · fundraising $1,052
-
24b · Other expenses: FOOD SERVICE
total $258,193 · program services $211,244 · management and general $30,661 · fundraising $16,288
-
24c · Other expenses: ACTIVITIES EXPENSE
total $86,055 · program services $86,055
-
24d · Other expenses: SPECIAL EVENTS
total $45,357 · program services $37,267 · management and general $2,420 · fundraising $5,670
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,950 · end of year $1,950
-
2 · Savings and temporary cash investments
beginning of year $3,452,506 · end of year $4,505,724
-
3 · Pledges and grants receivable
beginning of year $629,939 · end of year $576,492
-
4 · Accounts receivable
beginning of year $915,742 · end of year $879,529
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $355,140 · end of year $284,116
-
8 · Inventories for sale or use
beginning of year $194,875 · end of year $186,028
-
9 · Prepaid expenses and deferred charges
beginning of year $37,320 · end of year $37,320
-
10a · Land, buildings and equipment: cost or other basis
$74,482,983
-
10b · Land, buildings and equipment: accumulated depreciation
$38,848,867
-
10c · Land, buildings and equipment, net
beginning of year $28,716,667 · end of year $35,634,116
-
11 · Investments: publicly traded securities
beginning of year $17,525,482 · end of year $18,299,188
-
12 · Investments: other securities
beginning of year $0 · end of year $0
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $3,448,818 · end of year $3,808,784
-
17 · Accounts payable and accrued expenses
beginning of year $1,545,505 · end of year $1,335,870
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $0 · end of year $0
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $6,249,471 · end of year $16,425,924
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $3,220,799 · end of year $3,103,865
-
27 · Net assets without donor restrictions
beginning of year $20,115,632 · end of year $13,856,967
-
28 · Net assets with donor restrictions
beginning of year $24,147,032 · end of year $29,490,621
Mission and programs · 2022
Mission
TO PROVIDE A UNIQUE LIBERAL ARTS EDUCATION ALLOWING STUDENTS TO ENGAGE IN BOTH CURRICULAR AND CO-CURRICULAR PROGRAMS THAT COMBINE REAL WORLD EXPERIENCES WITH LECTURES AND SERVICE LEARNING
Activities or mission (Part I)
PROVIDE UNDERGRADUATE AND GRADUATE INSTRUCTION, BOTH IN PERSON AND ONLINE.
-
FINANCIAL AID IN VARIOUS FORMS TO ASSIST INDIVIDUALS IN FINANCING THEIR UNDERGRAUATE EDUCATION. 850 STUDENTS BENEFITTED.
Expenses $16,102,114 · Grants $16,102,114
-
AUXILIARY- ROOM, BOARD, ATHLETICS AND SPIRIT STORE FOR STUDENTS OBTAINING THEIR UNDERGRADUATE EDUCATION.
Expenses $4,788,408 · Revenue $6,728,194
-
INSTRUCTION AND RELATED SUPPORT- PROVIDING A LIBERAL ARTS UNDERGRADUATE EDUCATION. 851 UNDERGRADUATE STUDENTS ENROLLED IN FISCAL YEAR 2022-23.
Expenses $8,016,467 · Revenue $25,397,063
-
NON-EDUCATIONAL EVENTS FOR STUDENTS:
Expenses $8,372,718 · Revenue $877,324
-
CO-CURRICULAR PROGRAMS OFFERED TO
-
STUDENTS THIS INCLUDES ATHLETICS AND
-
STUDENT LIFE EVENTS TO ENHANCE THE
-
EDUCATIONAL EXPERIENCE.
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Dr Steven CoreyDR STEVEN COREY
PRESIDENT
- Total calculated
- $403,733
- From this org
- $353,375
- From related orgs
- $0
- Other
- $50,358
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $351,071
- Bonus
- not reported
- Other
- $2,304
- Deferred
- $13,755
- Nontaxable benefits
- $36,603
- Filer's total
- $403,733
-
Mark DeruiterMARK DERUITER
VP/CFO
- Total calculated
- $161,634
- From this org
- $148,466
- From related orgs
- $0
- Other
- $13,168
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $147,278
- Bonus
- not reported
- Other
- $1,188
- Deferred
- $6,145
- Nontaxable benefits
- $7,023
- Filer's total
- $161,634
-
Vicki StoufferVICKI STOUFFER
VP FOR ADVANCEMENT
- Total calculated
- $153,062
- From this org
- $140,519
- From related orgs
- $0
- Other
- $12,543
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $139,331
- Bonus
- not reported
- Other
- $1,188
- Deferred
- $5,520
- Nontaxable benefits
- $7,023
- Filer's total
- $153,062
-
Karen ChaneyKAREN CHANEY
ASSOC. PROVOST
- Total calculated
- $127,949
- From this org
- $107,616
- From related orgs
- $0
- Other
- $20,333
- Hours/week
- 40
-
Ryan ShockeyRYAN SHOCKEY
VP/CHIEF OF STAFF
- Total calculated
- $116,074
- From this org
- $106,173
- From related orgs
- $0
- Other
- $9,901
- Hours/week
- 40
-
Maria DavisMARIA DAVIS
PROVOST (LEFT 06/22)
- Total calculated
- $108,628
- From this org
- $104,178
- From related orgs
- $0
- Other
- $4,450
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $103,162
- Bonus
- not reported
- Other
- $1,016
- Deferred
- $4,078
- Nontaxable benefits
- $372
- Filer's total
- $108,628
-
Paul BurkhardtPAUL BURKHARDT
PROVOST (START 07/22)
- Total calculated
- $86,188
- From this org
- $79,966
- From related orgs
- $0
- Other
- $6,222
- Hours/week
- 40
-
Jamey FitzpatrickJAMEY FITZPATRICK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Dr Justin KlamerusDR JUSTIN KLAMERUS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Jeff WildernJEFF WILDERN
TREASURER
- Total calculated
- $0
- Hours/week
- 3
-
Albert RosenthalerALBERT ROSENTHALER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Audra CarsonAUDRA CARSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Breanna O'KeefeBREANNA O'KEEFE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Chuck MeffordCHUCK MEFFORD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
David LabrecqueDAVID LABRECQUE
TRUSTEE AT-LARGE
- Total calculated
- $0
- Hours/week
- 2
-
David ShufeltDAVID SHUFELT
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Denise P HoodDENISE P HOOD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Dr Craig BaileyDR CRAIG BAILEY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Dr John SchwarzDR JOHN SCHWARZ
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Dr Alyssa KenistonDR ALYSSA KENISTON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Dr Margaret DimondDR MARGARET DIMOND
TRUSTEE AT-LARGE
- Total calculated
- $0
- Hours/week
- 2
-
Dr Melanie EngelsDR MELANIE ENGELS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Dr Sharon HobbsDR SHARON HOBBS
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Dr Timothy HodgeDR TIMOTHY HODGE
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
G Asenath AndrewsG ASENATH ANDREWS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
James Rose JrJAMES ROSE JR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Jason ConkinJASON CONKIN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Jesse LothamerJESSE LOTHAMER
VICE TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
John JonesJOHN JONES
TRUSTEE AT-LARGE
- Total calculated
- $0
- Hours/week
- 2
-
Karen PrestonKAREN PRESTON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Linda Harleston-EatonLINDA HARLESTON-EATON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Mike DieterleMIKE DIETERLE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Pamela HeosPAMELA HEOS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Rod HathawayROD HATHAWAY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Sarah JenningsSARAH JENNINGS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Sue ToppingSUE TOPPING
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Thomas BurkeTHOMAS BURKE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Veronica MurffVERONICA MURFF
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 1a · Housing allowance or residence for personal use
- 1a · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 4a · Severance or change-of-control payment
Answered no
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- SCHEDULE J, PART I, LINE 1A
- Dr. Steven M. Corey resides in a home owned by Olivet College. The home is located on campus and is used for College functions and events. Dr. Corey is required to live in the home per his employment contract. This housing benefit meets the Section 119 exclusion requirements and therefore is a non-taxable benefit. The College also provides a country club membership to Dr. Corey for business purposes. Any personal use is reimbursed to the College and the business use is excluded from taxable income. Value of these benefits are considered nontaxable compensation to him.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
RED & WHITE HOSPITALITY LLC
HOSPITALITY · MI · income $3,852 · assets $2,275
Directly controlled by OLIVET COL
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202400899349301105
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.