Skip to content
Nonprofiteer
← AQUINAS COLLEGE INC

Form 990 for tax year 2024

Filed by AQUINAS COLLEGE INC.

Totals

Total revenue
$59,580,396
Total expenses
$61,128,137
Contributions and grants received
$8,322,343
Grants paid
$24,958,384
Program service revenue
$47,498,329
Investment income
$3,367,574
Other revenue
$392,150
Total assets, end of year
$126,721,704
Total liabilities, end of year
$40,654,618
Net assets or fund balances, end of year
$86,067,086
Program services expenses (Part IX)
$51,538,926
Management and general expenses
$8,648,584
Fundraising expenses
$940,627
Program service expenses (Part III)
$51,538,926

Program services were 84.3% 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

    $207,692

  • 1e · Government grants (contributions)

    $536,361

  • 1f · All other contributions, gifts and grants

    $7,578,290

  • 1g · Noncash contributions included above

    $126,716

  • 2a · Program service revenue: TUITION AND FEES

    total $40,232,531 · related or exempt $40,232,531

  • 2b · Program service revenue: AUXILIARY SERVICES

    total $6,546,746 · related or exempt $6,546,746

  • 2c · Program service revenue: OTHER REVENUE

    total $719,052 · related or exempt $719,052

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $1,325,879 · excluded $1,325,879

  • 6a · Gross rents

    real property $464,751

  • 6c · Rental income or loss

    real property $464,751 · personal property $0

  • 6d · Net rental income or loss

    total $464,751 · excluded $464,751

  • 7a · Gross sales of assets other than inventory

    securities $24,784,506

  • 7b · Less cost or other basis and sales expenses

    securities $22,742,811

  • 7c · Gain or loss

    securities $2,041,695 · other assets $0

  • 7d · Net gain or loss

    total $2,041,695 · excluded $2,041,695

  • 8a · Fundraising events: gross income

    $12,110

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

    $207,692

  • 8b · Fundraising events: direct expenses

    $84,711

  • 8c · Net income from fundraising events

    total -$72,601 · excluded -$72,601

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $47,594 · program services $47,594

  • 2 · Grants to domestic individuals

    total $24,174,170 · program services $24,174,170

  • 3 · Grants to foreign organizations and individuals

    total $736,620 · program services $736,620

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $650,769 · program services $0 · management and general $650,769 · fundraising $0

  • 6 · Compensation of disqualified persons

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

  • 7 · Other salaries and wages

    total $15,012,757 · program services $12,913,191 · management and general $1,567,113 · fundraising $532,453

  • 8 · Pension plan contributions

    total $58,978 · program services $47,251 · management and general $9,429 · fundraising $2,298

  • 9 · Other employee benefits

    total $1,957,922 · program services $1,315,649 · management and general $589,387 · fundraising $52,886

  • 10 · Payroll taxes

    total $1,038,468 · program services $785,440 · management and general $213,760 · fundraising $39,268

  • 11a · Fees: management

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

  • 11b · Fees: legal

    total $150,651 · program services $0 · management and general $150,651 · fundraising $0

  • 11c · Fees: accounting

    total $62,200 · program services $0 · management and general $62,200 · fundraising $0

  • 11d · Fees: lobbying

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

  • 11e · Fees: professional fundraising services

    total $19,018 · fundraising $19,018

  • 11f · Fees: investment management

    total $195,819 · program services $0 · management and general $195,819 · fundraising $0

  • 11g · Fees: other

    total $5,400,777 · program services $3,971,864 · management and general $1,352,696 · fundraising $76,217

  • 12 · Advertising and promotion

    total $349,565 · program services $190,416 · management and general $121,727 · fundraising $37,422

  • 13 · Office expenses

    total $143,896 · program services $97,953 · management and general $34,842 · fundraising $11,101

  • 14 · Information technology

    total $771,471 · program services $128,222 · management and general $560,423 · fundraising $82,826

  • 15 · Royalties

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

  • 16 · Occupancy

    total $2,365,975 · program services $475,976 · management and general $1,889,999 · fundraising $0

  • 17 · Travel

    total $747,721 · program services $739,851 · management and general $6,395 · fundraising $1,475

  • 18 · Travel or entertainment for public officials

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

  • 19 · Conferences, conventions and meetings

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

  • 20 · Interest

    total $1,660,608 · program services $1,248,235 · management and general $412,373 · fundraising $0

  • 21 · Payments to affiliates

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

  • 22 · Depreciation, depletion and amortization

    total $3,013,111 · program services $2,917,978 · management and general $95,133 · fundraising $0

  • 23 · Insurance

    total $492,752 · program services $126,600 · management and general $366,152 · fundraising $0

  • 24a · Other expenses: OTHER

    total $1,378,514 · program services $1,120,047 · management and general $200,099 · fundraising $58,368

  • 24b · Other expenses: SUPPLIES

    total $698,781 · program services $501,869 · management and general $169,617 · fundraising $27,295

  • 24e · All other expenses

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

  • 26 · Joint costs (an allocation of the lines above)

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

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $600 · end of year $600

  • 2 · Savings and temporary cash investments

    beginning of year $2,593,695 · end of year $3,912,606

  • 3 · Pledges and grants receivable

    beginning of year $1,370,524 · end of year $2,122,443

  • 4 · Accounts receivable

    beginning of year $894,979 · end of year $897,842

  • 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

  • 9 · Prepaid expenses and deferred charges

    beginning of year $157,020 · end of year $300,138

  • 10a · Land, buildings and equipment: cost or other basis

    $129,498,150

  • 10b · Land, buildings and equipment: accumulated depreciation

    $69,130,231

  • 10c · Land, buildings and equipment, net

    beginning of year $62,958,426 · end of year $60,367,919

  • 11 · Investments: publicly traded securities

    beginning of year $40,589,353 · end of year $40,902,676

  • 12 · Investments: other securities

    beginning of year $6,585,112 · end of year $6,570,270

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $11,289,297 · end of year $11,647,210

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,441,966 · end of year $2,897,002

  • 19 · Deferred revenue

    beginning of year $148,877 · end of year $125,955

  • 20 · Tax-exempt bond liabilities

    beginning of year $28,357,016 · end of year $28,286,243

  • 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 $8,119,614 · end of year $8,519,614

  • 25 · Other liabilities

    beginning of year $973,296 · end of year $825,804

  • 27 · Net assets without donor restrictions

    beginning of year $29,280,853 · end of year $29,573,193

  • 28 · Net assets with donor restrictions

    beginning of year $57,117,384 · end of year $56,493,893

Mission and programs · 2024

Mission

AQUINAS COLLEGE, AN INCLUSIVE EDUCATIONAL COMMUNITY ROOTED IN THE CATHOLIC DOMINICAN TRADITION, PROVIDES A LIBERAL ARTS EDUCATION WITH A GLOBAL PERSPECTIVE, EMPHASIZES CAREER PREPARATION FOCUSED ON LEADERSHIP AND SERVICES TO OTHERS, AND FOSTERS A COMMITMENT TO A LIFELONG LEARNING DEDICATED TO THE PURSUIT OF TRUTH AND THE COMMON GOOD.

Activities or mission (Part I)

AQUINAS COLLEGE STRIVES TO BE AMONG THE PREMIER CATHOLIC COLLEGES IN THE MIDWEST RECOGNIZED FOR ITS EXCELLENCE IN PREPARING THE WHOLE PERSON TO LEAD A LIFE OF PURPOSE AND SUCCESS.

  • AQUINAS COLLEGE SERVES UNDERGRADUATE AND GRADUATE STUDENTS. THE COLLEGE STRIVES TO PROVIDE A LIBERAL ARTS EDUCATION WITH A GLOBAL PERSPECTIVE, EMPHASIZING CAREER PREPARATION FOCUSED ON LEADERSHIP AND SERVICE TO OTHERS, ROOTED IN THE CATHOLIC DOMINICAN TRADITION.

    Expenses $51,538,926 · Grants $24,958,384 · Revenue $47,498,329

As filed on the 2024 return.

Listed in Part VII

  • John Lowery

    Chair

    Total calculated
    $0
    Hours/week
    0.6

  • Margaret Kennedy

    Treasurer

    Total calculated
    $0
    Hours/week
    0.6

  • Robert Woodhouse Jr

    Vice Chair

    Total calculated
    $0
    Hours/week
    0.6

  • Andola Mathis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.6

  • Conor Dugan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.6

  • Hillary Roelofs

    Trustee

    Total calculated
    $0
    Hours/week
    0.6

  • Joe Murphy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.6

  • Michael Gagnon

    Trustee

    Total calculated
    $0
    Hours/week
    0.6

  • Nazar Massouh

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.6

  • Rick Heuvelman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.6

  • Sr Barbara Reid Op

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.6

  • Sr Megan McElroy OP

    Trustee

    Total calculated
    $0
    Hours/week
    0.6

  • Sr Nathalie Meyer OP

    Trustee

    Total calculated
    $0
    Hours/week
    0.6

  • Alicia Cordoba

    PRESIDENT (LEFT 04/25)

    Total calculated
    $332,533
    From this org
    $296,877
    From related orgs
    $0
    Other
    $35,656
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $296,877
    Bonus
    $0
    Other
    $0
    Deferred
    $20,500
    Nontaxable benefits
    $15,156
    Filer's total
    $332,533

  • Sr Maureen Geary OP

    President (Start 04/25)

    Total calculated
    $0
    Hours/week
    40

  • Terry Keller

    PROVOST

    Total calculated
    $99,358
    From this org
    $89,585
    From related orgs
    $0
    Other
    $9,773
    Hours/week
    40

  • Timothy Stafford

    Vice President for Finance

    Total calculated
    $153,243
    From this org
    $123,440
    From related orgs
    $0
    Other
    $29,803
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $123,440
    Bonus
    $0
    Other
    $0
    Deferred
    $5,200
    Nontaxable benefits
    $24,603
    Filer's total
    $153,243

  • Brian Divita

    Associate Professor Business Administration

    Total calculated
    $165,854
    From this org
    $136,701
    From related orgs
    $0
    Other
    $29,153
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,701
    Bonus
    $0
    Other
    $0
    Deferred
    $11,000
    Nontaxable benefits
    $18,153
    Filer's total
    $165,854

  • Brian Matzke

    Vice President for Enrollment Management

    Total calculated
    $155,837
    From this org
    $123,440
    From related orgs
    $0
    Other
    $32,397
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $123,440
    Bonus
    $0
    Other
    $0
    Deferred
    $7,794
    Nontaxable benefits
    $24,603
    Filer's total
    $155,837

  • David Cunningham

    Director, NetVUE

    Total calculated
    $180,498
    From this org
    $157,239
    From related orgs
    $0
    Other
    $23,259
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,239
    Bonus
    $0
    Other
    $0
    Deferred
    $3,303
    Nontaxable benefits
    $19,956
    Filer's total
    $180,498

  • Kelly Scott

    AVP FOR FINANCE AND HUMAN RESOURCES

    Total calculated
    $132,102
    From this org
    $120,348
    From related orgs
    $0
    Other
    $11,754
    Hours/week
    40

  • Scott Travis

    VICE PRESIDENT FOR ADVANCEMENT

    Total calculated
    $125,993
    From this org
    $106,934
    From related orgs
    $0
    Other
    $19,059
    Hours/week
    40

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 · Travel for companions
  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 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 Travel for companions
PRESIDENT ALICIA CORDOBA RECEIVES TRAVEL BENEFITS FOR HER SPOUSE. THIS BENEFIT IS TREATED AS NON-TAXABLE COMPENSATION.
Schedule J, Part I, Line 1a Housing allowance or residence for personal use
THE PRESIDENT ALSO LIVES IN A HOUSE PROVIDED BY THE COLLEGE. THIS BENEFIT MEETS THE SECT. 119 EXCLUSION AND THEREFORE IS CONSIDERED A NONTAXABLE BENEFIT INCLUDED ON SCHEDULE J, PART II, COLUMN D.

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

Provenance

Return type
form_990
Tax year
2024
Filed
12 May 2026
IRS schema version
2024v5.1
Source object
202601329349300045

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.