Form 990 for tax year 2024

Filed by ALMA COLLEGE.

Totals

Total revenue: $84,772,473
Total expenses: $90,190,628
Contributions and grants received: $6,684,181
Grants paid: $39,370,051
Program service revenue: $72,101,197
Investment income: $4,878,865
Other revenue: $1,108,230
Total assets, end of year: $273,426,151
Total liabilities, end of year: $75,742,925
Net assets or fund balances, end of year: $197,683,226
Program services expenses (Part IX): $81,622,311
Management and general expenses: $7,341,676
Fundraising expenses: $1,226,641
Program service expenses (Part III): $81,622,311

Program services were 90.5% 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.

1a · Federated campaigns

$0
1b · Membership dues

$0
1c · Fundraising events

$0
1d · Related organizations

$0
1e · Government grants (contributions)

$706,273
1f · All other contributions, gifts and grants

$5,977,908
1g · Noncash contributions included above

$265,836
2a · Program service revenue: Student tuition and fees

total $55,554,390 · related or exempt $55,554,390 · unrelated business $0 · excluded $0
2b · Program service revenue: Student room and board

total $14,266,492 · related or exempt $14,266,492 · unrelated business $0 · excluded $0
2c · Program service revenue: Student program fees

total $2,280,315 · related or exempt $2,280,315 · unrelated business $0 · excluded $0
2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
3 · Investment income

total $2,808,413 · related or exempt $0 · unrelated business -$48,896 · excluded $2,857,309
4 · Income from investment of tax-exempt bond proceeds

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
5 · Royalties

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
6a · Gross rents

real property $853,367 · personal property $0
6b · Less rental expenses

real property $0 · personal property $0
6c · Rental income or loss

real property $853,367 · personal property $0
6d · Net rental income or loss

total $853,367 · related or exempt $103,089 · unrelated business $750,278 · excluded $0
7a · Gross sales of assets other than inventory

securities $29,162,337 · other assets $0
7b · Less cost or other basis and sales expenses

securities $27,091,885 · other assets $0
7c · Gain or loss

securities $2,070,452 · other assets $0
7d · Net gain or loss

total $2,070,452 · related or exempt $0 · unrelated business $0 · excluded $2,070,452
8a · Fundraising events: gross income

$0
8a · Fundraising events: contributions included on line 1c

$0
8b · Fundraising events: direct expenses

$0
8c · Net income from fundraising events

total $0 · unrelated business $0 · excluded $0
9a · Gaming: gross income

$0
9b · Gaming: direct expenses

$0
9c · Net income from gaming

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
10a · Gross sales of inventory

$385,052
10b · Cost of goods sold

$208,595
10c · Net income from sales of inventory

total $176,457 · related or exempt $0 · unrelated business $176,457 · excluded $0
11d · All other revenue

total $78,406 · related or exempt $0 · unrelated business $78,406 · excluded $0
11e · Other revenue, total

$78,406

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $0 · program services $0
2 · Grants to domestic individuals

total $39,370,051 · program services $39,370,051
3 · Grants to foreign organizations and individuals

total $0 · program services $0
4 · Benefits paid to or for members

total $0 · program services $0
5 · Compensation of officers, directors and key employees

total $2,178,722 · program services $568,537 · management and general $1,377,069 · fundraising $233,116
6 · Compensation of disqualified persons

total $0 · program services $0 · management and general $0 · fundraising $0
7 · Other salaries and wages

total $18,266,379 · program services $16,617,612 · management and general $1,151,688 · fundraising $497,079
8 · Pension plan contributions

total $1,221,184 · program services $1,024,768 · management and general $145,464 · fundraising $50,952
9 · Other employee benefits

total $2,684,077 · program services $2,509,356 · management and general $110,312 · fundraising $64,409
10 · Payroll taxes

total $1,237,026 · program services $1,118,050 · management and general $82,650 · fundraising $36,326
11a · Fees: management

total $0 · program services $0 · management and general $0 · fundraising $0
11b · Fees: legal

total $58,758 · program services $0 · management and general $58,758 · fundraising $0
11c · Fees: accounting

total $72,545 · program services $0 · management and general $72,545 · fundraising $0
11d · Fees: lobbying

total $0 · program services $0 · management and general $0 · fundraising $0
11e · Fees: professional fundraising services

total $0 · fundraising $0
11f · Fees: investment management

total $511,357 · program services $0 · management and general $511,357 · fundraising $0
11g · Fees: other

total $3,136,565 · program services $2,263,761 · management and general $644,213 · fundraising $228,591
12 · Advertising and promotion

total $791,156 · program services $351,561 · management and general $425,409 · fundraising $14,186
13 · Office expenses

total $2,221,255 · program services $2,081,934 · management and general $76,256 · fundraising $63,065
14 · Information technology

total $655,061 · program services $655,061 · management and general $0 · fundraising $0
15 · Royalties

total $0 · program services $0 · management and general $0 · fundraising $0
16 · Occupancy

total $2,121,550 · program services $2,115,743 · management and general $4,470 · fundraising $1,337
17 · Travel

total $2,331,004 · program services $2,284,364 · management and general $22,294 · fundraising $24,346
18 · Travel or entertainment for public officials

total $0 · program services $0 · management and general $0 · fundraising $0
19 · Conferences, conventions and meetings

total $101,994 · program services $79,345 · management and general $5,232 · fundraising $17,417
20 · Interest

total $2,006,354 · program services $822,072 · management and general $1,184,282 · fundraising $0
21 · Payments to affiliates

total $0 · program services $0 · management and general $0 · fundraising $0
22 · Depreciation, depletion and amortization

total $4,124,351 · program services $3,601,383 · management and general $503,171 · fundraising $19,797
23 · Insurance

total $905,134 · program services $6,701 · management and general $898,433 · fundraising $0
24a · Other expenses: Food Service

total $2,991,022 · program services $2,991,022 · management and general $0 · fundraising $0
24b · Other expenses: Repairs & maintenance

total $3,359,950 · program services $3,352,286 · management and general $1,950 · fundraising $5,714
24c · Other expenses: Special events

total $107,172 · program services $70,522 · management and general $27,054 · fundraising $9,596
24d · Other expenses: Bad debt expense (recovery)

total -$528,660 · program services -$489,370 · management and general $0 · fundraising -$39,290
24e · All other expenses

total $266,621 · program services $227,552 · management and general $39,069 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $200,371 · end of year $2,338,251
2 · Savings and temporary cash investments

beginning of year $638,765 · end of year $638,765
3 · Pledges and grants receivable

beginning of year $11,940,188 · end of year $10,669,838
4 · Accounts receivable

beginning of year $1,853,410 · end of year $2,330,523
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 $1,754,985 · end of year $2,019,489
8 · Inventories for sale or use

beginning of year $236,733 · end of year $297,639
9 · Prepaid expenses and deferred charges

beginning of year $1,688,490 · end of year $1,601,831
10a · Land, buildings and equipment: cost or other basis

$179,338,339
10b · Land, buildings and equipment: accumulated depreciation

$79,968,132
10c · Land, buildings and equipment, net

beginning of year $94,803,010 · end of year $99,370,207
11 · Investments: publicly traded securities

beginning of year $113,384,688 · end of year $116,445,573
12 · Investments: other securities

beginning of year $33,050,960 · end of year $37,714,035
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 $0 · end of year $0
17 · Accounts payable and accrued expenses

beginning of year $7,276,482 · end of year $6,518,983
19 · Deferred revenue

beginning of year $904,225 · end of year $481,597
20 · Tax-exempt bond liabilities

beginning of year $6,890,000 · end of year $6,360,000
23 · Secured mortgages and notes payable

beginning of year $44,886,306 · end of year $52,079,592
24 · Unsecured notes and loans payable

beginning of year $5,500,000 · end of year $7,000,000
25 · Other liabilities

beginning of year $1,049,282 · end of year $3,302,753
27 · Net assets without donor restrictions

beginning of year $53,392,863 · end of year $52,485,968
28 · Net assets with donor restrictions

beginning of year $139,652,442 · end of year $145,197,258

Mission and programs · 2024

Mission

Alma College's mission is to prepare graduates who think critically, serve generously, lead purposefully and live responsibly as stewards

Activities or mission (Part I)

Alma College's mission is to prepare graduates who think critically, serve generously, lead purposefully, and live responsibly as stewards

Scholarships and awards to students offset the cost of tuition. Instruction provided to students by highly qualified faculty and assistants. Housing and food service provided to students. Alma College is a residential liberals arts college with approximately 95% of students living and eating on campus.

Expenses $81,622,311 · Grants $39,370,051 · Revenue $72,331,230

As filed on the 2024 return.

Listed in Part VII

Dr Jeffrey Abernathy

President

Total calculated

$499,409

From this org

$373,255

From related orgs

$0

Other

$126,154

Hours/week

60

Schedule J breakdown matched by us

Base

$350,000

Bonus

$0

Other

$23,255

Deferred

$107,500

Nontaxable benefits

$18,654

Filer's total

$499,409
Timothy Pinnow

Chief Operating Officer

Total calculated

$269,938

From this org

$247,915

From related orgs

$0

Other

$22,023

Hours/week

60

Schedule J breakdown matched by us

Base

$246,750

Bonus

$0

Other

$1,165

Deferred

$19,740

Nontaxable benefits

$2,283

Filer's total

$269,938
Robert Murray

Vice President for Advancement

Total calculated

$220,179

From this org

$202,429

From related orgs

$0

Other

$17,750

Hours/week

60

Schedule J breakdown matched by us

Base

$200,000

Bonus

$0

Other

$2,429

Deferred

$16,000

Nontaxable benefits

$1,750

Filer's total

$220,179
James Carman

Vice President of Finance

Total calculated

$213,059

From this org

$182,062

From related orgs

$0

Other

$30,997

Hours/week

60

Schedule J breakdown matched by us

Base

$182,062

Bonus

$0

Other

$0

Deferred

$15,731

Nontaxable benefits

$15,266

Filer's total

$213,059
Sean Burke

Provost

Total calculated

$202,291

From this org

$186,125

From related orgs

$0

Other

$16,166

Hours/week

60

Schedule J breakdown matched by us

Base

$183,750

Bonus

$0

Other

$2,375

Deferred

$14,700

Nontaxable benefits

$1,466

Filer's total

$202,291
Damon Brown

Vice President of Student Affairs

Total calculated

$188,440

From this org

$160,480

From related orgs

$0

Other

$27,960

Hours/week

60

Schedule J breakdown matched by us

Base

$155,480

Bonus

$0

Other

$5,000

Deferred

$13,000

Nontaxable benefits

$14,960

Filer's total

$188,440
Melinda Booth

Vice President for Communication and Marketing

Total calculated

$168,374

From this org

$150,719

From related orgs

$0

Other

$17,655

Hours/week

60

Schedule J breakdown matched by us

Base

$150,719

Bonus

$0

Other

$0

Deferred

$12,180

Nontaxable benefits

$5,475

Filer's total

$168,374
Michael Selmon

Faculty

Total calculated

$162,061

From this org

$138,192

From related orgs

$0

Other

$23,869

Hours/week

50

Schedule J breakdown matched by us

Base

$132,169

Bonus

$0

Other

$6,023

Deferred

$11,456

Nontaxable benefits

$12,413

Filer's total

$162,061
Jason Couch

Head Football Coach

Total calculated

$150,482

From this org

$124,698

From related orgs

$0

Other

$25,784

Hours/week

50

Schedule J breakdown matched by us

Base

$124,698

Bonus

$0

Other

$0

Deferred

$10,982

Nontaxable benefits

$14,802

Filer's total

$150,482
Kyle Warner

Chief Information Officer

Total calculated

$150,274

From this org

$126,665

From related orgs

$0

Other

$23,609

Hours/week

50

Schedule J breakdown matched by us

Base

$126,665

Bonus

$0

Other

$0

Deferred

$11,174

Nontaxable benefits

$12,435

Filer's total

$150,274
Britt Cartrite

Associate Provost for Institutional Effectiveness

Total calculated

$144,708

From this org

$135,744

From related orgs

$0

Other

$8,964

Hours/week

50
Sarah Dehring

Vice President/Director of Athletics

Total calculated

$139,262

From this org

$123,693

From related orgs

$0

Other

$15,569

Hours/week

60
Victor Finch

VP Graduate and Professional Enrollment

Total calculated

$138,981

From this org

$125,003

From related orgs

$0

Other

$13,978

Hours/week

50
Erika Powers Appelt

Trustee

Total calculated

$0

Hours/week

2
Brian Bartes

Trustee

Total calculated

$0

Hours/week

2
Kevin Blatchford

Trustee

Total calculated

$0

Hours/week

2
Carol Burns

Trustee

Total calculated

$0

Hours/week

2
Charlie Deacon

Trustee

Total calculated

$0

Hours/week

2
David Devine

Trustee

Total calculated

$0

Hours/week

2
Stephen Falk

Trustee

Total calculated

$0

Hours/week

2
Deborah Lynch Fitzgerald

Trustee

Total calculated

$0

Hours/week

2
Doug Gross

Trustee

Total calculated

$0

Hours/week

2
Charles Hardwick

Trustee

Total calculated

$0

Hours/week

2
Greg Hatcher

Trustee

Total calculated

$0

Hours/week

2
Christopher Hufnagel

Trustee

Total calculated

$0

Hours/week

2
Rachelle Jacques

Trustee

Total calculated

$0

Hours/week

2
Burt Jordan

Trustee

Total calculated

$0

Hours/week

2
David Larsen

Trustee

Total calculated

$0

Hours/week

2
Edward Osowski

Trustee

Total calculated

$0

Hours/week

2
Joseph Phillips

Trustee

Total calculated

$0

Hours/week

2
Derron Sanders

Trustee

Total calculated

$0

Hours/week

2
Darryl Schimeck

Trustee

Total calculated

$0

Hours/week

2
Kim Taylor

Trustee

Total calculated

$0

Hours/week

2
James Wheeler II

Trustee

Total calculated

$0

Hours/week

2
John Wilson

Trustee

Total calculated

$0

Hours/week

2
Joseph Odenwald

President - effective June 2025

Total calculated

$0

Hours/week

60

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

3 · Form 990 of other organizations
3 · Written employment contract
3 · Approval by the board or compensation committee
4b · Supplemental nonqualified retirement plan

Answered no

4a · Severance or change-of-control payment
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 4: Dr. Jeff Abernathy participates in a non-qualified deferred compensation plan. A contribution of $50,000 was made on his behalf. No distributions were taken during the tax year.

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Alma Opera Block LLC

Related · Leasing commercial and residential space · MI · 100% owned · share of income $8,636 · share of assets $0 · general or managing partner

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Alma Opera Block Manager LLC

C · Leasing commercial and residential property · MI · 100% owned · share of income $110,913 · share of assets $8,770,915 · controlled entity

Provenance

Return type: form_990
Tax year: 2024
Filed: 15 May 2026
IRS schema version: 2024v5.0
Source object: 202611359349312691

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