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← THOMAS AQUINAS COLLEGE

Form 990 for tax year 2023

Filed by THOMAS AQUINAS COLLEGE.

Totals

Total revenue
$37,182,598
Total expenses
$41,124,135
Contributions and grants received
$14,880,918
Grants paid
$4,801,208
Program service revenue
$20,892,738
Investment income
$706,464
Other revenue
$702,478
Total assets, end of year
$143,266,089
Total liabilities, end of year
$19,215,421
Net assets or fund balances, end of year
$124,050,668
Program services expenses (Part IX)
$35,137,551
Management and general expenses
$4,880,959
Fundraising expenses
$1,105,625
Program service expenses (Part III)
$35,137,551

Program services were 85.4% 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.

  • 1f · All other contributions, gifts and grants

    $14,880,918

  • 1g · Noncash contributions included above

    $7,420,785

  • 2a · Program service revenue: TUITION

    total $15,062,615 · related or exempt $15,062,615

  • 2b · Program service revenue: AUXILIARY

    total $5,830,123 · related or exempt $5,830,123

  • 3 · Investment income

    total $630,725 · excluded $630,725

  • 5 · Royalties

    total $361,094 · unrelated business $147,688 · excluded $213,406

  • 6a · Gross rents

    real property $324,060

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $324,060

  • 6d · Net rental income or loss

    total $324,060 · excluded $324,060

  • 7a · Gross sales of assets other than inventory

    securities $19,768,610

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

    securities $19,692,871

  • 7c · Gain or loss

    securities $75,739

  • 7d · Net gain or loss

    total $75,739 · excluded $75,739

  • 10a · Gross sales of inventory

    $113,536

  • 10b · Cost of goods sold

    $132,505

  • 10c · Net income from sales of inventory

    total -$18,969 · related or exempt -$18,969

  • 11a · Other revenue: OTHER REVENUE

    total $30,380 · excluded $30,380

  • 11b · Other revenue: SEMINARS

    total $5,913 · excluded $5,913

  • 11e · Other revenue, total

    $36,293

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $4,801,208 · program services $4,801,208

  • 5 · Compensation of officers, directors and key employees

    total $431,697 · program services $196,156 · management and general $214,723 · fundraising $20,818

  • 7 · Other salaries and wages

    total $15,711,443 · program services $12,939,132 · management and general $2,374,017 · fundraising $398,294

  • 8 · Pension plan contributions

    total $567,838 · program services $425,204 · management and general $122,742 · fundraising $19,892

  • 9 · Other employee benefits

    total $3,067,434 · program services $2,739,631 · management and general $237,791 · fundraising $90,012

  • 10 · Payroll taxes

    total $1,035,115 · program services $839,748 · management and general $161,838 · fundraising $33,529

  • 11b · Fees: legal

    total $78,450 · program services $19,482 · management and general $58,445 · fundraising $523

  • 11c · Fees: accounting

    total $77,881 · program services $6,000 · management and general $71,881

  • 11e · Fees: professional fundraising services

    total $67,199 · fundraising $67,199

  • 11g · Fees: other

    total $1,154,528 · program services $930,799 · management and general $162,357 · fundraising $61,372

  • 12 · Advertising and promotion

    total $88,994 · program services $79,782 · fundraising $9,212

  • 13 · Office expenses

    total $776,705 · program services $461,336 · management and general $202,904 · fundraising $112,465

  • 14 · Information technology

    total $119,804 · program services $36,574 · fundraising $83,230

  • 16 · Occupancy

    total $2,628,738 · program services $2,466,121 · management and general $137,373 · fundraising $25,244

  • 17 · Travel

    total $289,463 · program services $162,996 · management and general $36,573 · fundraising $89,894

  • 19 · Conferences, conventions and meetings

    total $110,753 · program services $110,753

  • 20 · Interest

    total $561,394 · program services $524,347 · management and general $37,047

  • 22 · Depreciation, depletion and amortization

    total $3,997,276 · program services $3,701,766 · management and general $295,510

  • 23 · Insurance

    total $1,696,110 · program services $1,434,153 · management and general $261,957

  • 24a · Other expenses: UNRELATED BUSINESS INCO

    total $221,239 · management and general $221,239

  • 24b · Other expenses: CONTRACTED SERVICES

    total $2,244,446 · program services $2,104,919 · management and general $135,234 · fundraising $4,293

  • 24c · Other expenses: MISCELLANEOUS

    total $708,290 · program services $492,024 · management and general $143,029 · fundraising $73,237

  • 24d · Other expenses: EDUCATIONAL MATERIAL AN

    total $602,749 · program services $602,749

  • 24e · All other expenses

    total $85,381 · program services $62,671 · management and general $6,299 · fundraising $16,411

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $328,435 · end of year $553,860

  • 2 · Savings and temporary cash investments

    beginning of year $1,171,582 · end of year $3,604,767

  • 3 · Pledges and grants receivable

    beginning of year $8,933,842 · end of year $8,340,130

  • 4 · Accounts receivable

    beginning of year $565,407 · end of year $440,495

  • 7 · Other notes and loans receivable

    beginning of year $402,370 · end of year $490,587

  • 8 · Inventories for sale or use

    beginning of year $230,114 · end of year $192,361

  • 9 · Prepaid expenses and deferred charges

    beginning of year $610,342 · end of year $435,451

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

    $146,225,132

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

    $51,725,907

  • 10c · Land, buildings and equipment, net

    beginning of year $95,493,119 · end of year $94,499,225

  • 11 · Investments: publicly traded securities

    beginning of year $34,513,721 · end of year $32,221,072

  • 12 · Investments: other securities

    beginning of year $300,931 · end of year $312,886

  • 15 · Other assets

    beginning of year $2,361,419 · end of year $2,175,255

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,020,442 · end of year $1,838,714

  • 19 · Deferred revenue

    beginning of year $1,249,605 · end of year $1,169,849

  • 23 · Secured mortgages and notes payable

    beginning of year $15,100,000 · end of year $14,800,000

  • 25 · Other liabilities

    beginning of year $1,173,063 · end of year $1,406,858

  • 27 · Net assets without donor restrictions

    beginning of year $90,474,827 · end of year $88,427,016

  • 28 · Net assets with donor restrictions

    beginning of year $34,893,345 · end of year $35,623,652

Mission and programs · 2023

Mission

THOMAS AQUINAS COLLEGE IS AN INSTITUTION THAT HAS FAITHFULLY PURSUED, ARTICULATED AND DEFENDED A SINGLE, WELL-DEFINED MISSION THROUGHOUT ITS 51 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."

Activities or mission (Part I)

POST SECONDARY EDUCATION-EDUCATIONAL ACTIVITIES

  • EDUCATIONAL ACTIVITIES

    Expenses $35,137,551 · Grants $4,801,208 · Revenue $20,873,769

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • PAUL O'REILLY

    PRESIDENT, TUTOR, BOARD ME

    Total calculated
    $179,955
    From this org
    $143,167
    From related orgs
    $0
    Other
    $36,788
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,167
    Bonus
    $0
    Other
    $0
    Deferred
    $6,628
    Nontaxable benefits
    $30,160
    Filer's total
    $179,955

  • JOHN GOYETTE

    DEAN, TUTOR, BOARD MEMBER

    Total calculated
    $177,633
    From this org
    $140,845
    From related orgs
    $0
    Other
    $36,788
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,845
    Bonus
    $0
    Other
    $0
    Deferred
    $6,628
    Nontaxable benefits
    $30,160
    Filer's total
    $177,633

  • BRIAN KELLY

    TUTOR, SECRETARY, BOARD ME

    Total calculated
    $175,816
    From this org
    $139,428
    From related orgs
    $0
    Other
    $36,388
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,428
    Bonus
    $0
    Other
    $0
    Deferred
    $6,352
    Nontaxable benefits
    $30,036
    Filer's total
    $175,816

  • MICHAEL MCLEAN

    VICE PRESIDENT, TUTOR, BOARD ME

    Total calculated
    $109,124
    From this org
    $83,870
    From related orgs
    $0
    Other
    $25,254
    Hours/week
    30

  • R SCOTT TURICCHI

    CHAIRMAN OF THE BOARD OF GOVERNORS

    Total calculated
    $0
    Hours/week
    0

  • DIETER HUCKESTEIN

    VICE CHAIRMAN OF THE BOARD OF GOVERNORS

    Total calculated
    $0
    Hours/week
    0

  • ROBERT J BARBERA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • ANGELA Y CONNELLY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • ROBERT W ANDREWS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • STEVEN J CAIN

    DEAN, TUTOR

    Total calculated
    $172,189
    From this org
    $135,955
    From related orgs
    $0
    Other
    $36,234
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,955
    Bonus
    $0
    Other
    $0
    Deferred
    $6,209
    Nontaxable benefits
    $30,025
    Filer's total
    $172,189

  • MICHAEL K GRACE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • JOHN GUINEE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • THOMAS R KRAUSE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • MARK E MONTGOMERY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • BERNARDA NEAL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • LLOYD NOBLE II

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • MARTHA REICHERT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • RICHARD F SPENCER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • ANDREW W ZEPEDA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • THOMAS J KAISER

    TUTOR, BOARD MEMBER

    Total calculated
    $155,685
    From this org
    $127,370
    From related orgs
    $0
    Other
    $28,315
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $127,370
    Bonus
    $0
    Other
    $0
    Deferred
    $6,105
    Nontaxable benefits
    $22,210
    Filer's total
    $155,685

  • R GLEN COUGHLIN

    TUTOR, BOARD MEMBER

    Total calculated
    $172,566
    From this org
    $136,575
    From related orgs
    $0
    Other
    $35,991
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,575
    Bonus
    $0
    Other
    $0
    Deferred
    $5,966
    Nontaxable benefits
    $30,025
    Filer's total
    $172,566

  • MICHAEL J LETTENEY

    DEAN, TUTOR, BOARD MEMBER

    Total calculated
    $174,014
    From this org
    $137,226
    From related orgs
    $0
    Other
    $36,788
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,226
    Bonus
    $0
    Other
    $0
    Deferred
    $6,628
    Nontaxable benefits
    $30,160
    Filer's total
    $174,014

  • MARIANO A DIAZ-BONILLA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • PETER L DELUCA III

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • DENNIS MCCARTHY

    VP FOR FINANCE, TREASURER

    Total calculated
    $165,023
    From this org
    $135,703
    From related orgs
    $0
    Other
    $29,320
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,703
    Bonus
    $0
    Other
    $0
    Deferred
    $6,628
    Nontaxable benefits
    $22,692
    Filer's total
    $165,023

  • JESSE JOHN BAER

    TUTOR

    Total calculated
    $190,873
    From this org
    $154,375
    From related orgs
    $0
    Other
    $36,498
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,375
    Bonus
    $0
    Other
    $0
    Deferred
    $6,338
    Nontaxable benefits
    $30,160
    Filer's total
    $190,873

  • JON DALY

    DIRECTOR OF ADMISSIONS

    Total calculated
    $191,270
    From this org
    $154,523
    From related orgs
    $0
    Other
    $36,747
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,523
    Bonus
    $0
    Other
    $0
    Deferred
    $6,587
    Nontaxable benefits
    $30,160
    Filer's total
    $191,270

  • CHRISTOPHER WEINKOPF

    EXECUTIVE DIRECTOR OF COLL

    Total calculated
    $189,638
    From this org
    $152,937
    From related orgs
    $0
    Other
    $36,701
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,937
    Bonus
    $0
    Other
    $0
    Deferred
    $6,541
    Nontaxable benefits
    $30,160
    Filer's total
    $189,638

  • CLARK TULBERG

    FACILITIES MANAGER

    Total calculated
    $179,955
    From this org
    $143,167
    From related orgs
    $0
    Other
    $36,788
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,167
    Bonus
    $0
    Other
    $0
    Deferred
    $6,628
    Nontaxable benefits
    $30,160
    Filer's total
    $179,955

  • GREGORY BECHER

    DIRECTOR OF FINANCIAL AID

    Total calculated
    $177,311
    From this org
    $140,595
    From related orgs
    $0
    Other
    $36,716
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,595
    Bonus
    $0
    Other
    $0
    Deferred
    $6,628
    Nontaxable benefits
    $30,088
    Filer's total
    $177,311

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

None.

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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
12 May 2025
IRS schema version
2023v6.0
Source object
202541329349302889

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