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Nonprofiteer
← TRINE UNIVERSITY INC

Form 990 for tax year 2025

Filed by TRINE UNIVERSITY INC.

Totals

Total revenue
$223,580,316
Total expenses
$164,604,480
Contributions and grants received
$20,738,519
Grants paid
$50,677,747
Program service revenue
$194,433,839
Investment income
$7,574,935
Other revenue
$833,023
Total assets, end of year
$521,017,447
Total liabilities, end of year
$39,132,134
Net assets or fund balances, end of year
$481,885,313
Program services expenses (Part IX)
$151,322,416
Management and general expenses
$10,743,929
Fundraising expenses
$2,538,135
Program service expenses (Part III)
$151,322,416

Program services were 91.9% 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

    $341,894

  • 1d · Related organizations

    $38,845

  • 1e · Government grants (contributions)

    $291,048

  • 1f · All other contributions, gifts and grants

    $20,066,732

  • 1g · Noncash contributions included above

    $1,280,772

  • 2a · Program service revenue: TUITION AND FEES

    total $172,173,053 · related or exempt $172,173,053

  • 2b · Program service revenue: AUXILIARY INCOME

    total $20,245,836 · related or exempt $19,441,202 · unrelated business $804,634

  • 2c · Program service revenue: ATHLETIC INCOME

    total $702,968 · related or exempt $702,968

  • 2d · Program service revenue: MISCELLANEOUS INCOME

    total $1,311,982 · related or exempt $1,269,458 · unrelated business $42,524

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $6,639,482 · excluded $6,639,482

  • 6a · Gross rents

    real property $21,424

  • 6c · Rental income or loss

    real property $21,424 · personal property $0

  • 6d · Net rental income or loss

    total $21,424 · excluded $21,424

  • 7a · Gross sales of assets other than inventory

    securities $157,967,090

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

    securities $156,242,840 · other assets $788,797

  • 7c · Gain or loss

    securities $1,724,250 · other assets -$788,797

  • 7d · Net gain or loss

    total $935,453 · related or exempt -$788,797 · excluded $1,724,250

  • 8a · Fundraising events: gross income

    $17,085

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

    $341,894

  • 8b · Fundraising events: direct expenses

    $182,866

  • 8c · Net income from fundraising events

    total -$165,781 · excluded -$165,781

  • 10a · Gross sales of inventory

    $300,197

  • 10b · Cost of goods sold

    $242,246

  • 10c · Net income from sales of inventory

    total $57,951 · unrelated business $57,951

  • 11a · Other revenue: GOLF COURSE INCOME

    total $919,429 · unrelated business $919,429

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $919,429

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $50,677,747 · program services $50,677,747

  • 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 $1,667,310 · program services $1,483,906 · management and general $133,385 · fundraising $50,019

  • 6 · Compensation of disqualified persons

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

  • 7 · Other salaries and wages

    total $43,939,590 · program services $39,106,235 · management and general $3,515,167 · fundraising $1,318,188

  • 8 · Pension plan contributions

    total $2,946,079 · program services $2,622,010 · management and general $235,686 · fundraising $88,383

  • 9 · Other employee benefits

    total $4,518,444 · program services $4,021,416 · management and general $361,476 · fundraising $135,552

  • 10 · Payroll taxes

    total $3,239,627 · program services $2,883,268 · management and general $259,170 · fundraising $97,189

  • 11a · Fees: management

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

  • 11b · Fees: legal

    total $117,357 · program services $0 · management and general $117,357 · fundraising $0

  • 11c · Fees: accounting

    total $321,222 · program services $0 · management and general $321,222 · fundraising $0

  • 11d · Fees: lobbying

    total $265,577 · program services $0 · management and general $265,577 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $442,134 · program services $0 · management and general $442,134 · fundraising $0

  • 11g · Fees: other

    total $8,995,741 · program services $6,297,019 · management and general $2,698,722 · fundraising $0

  • 12 · Advertising and promotion

    total $1,359,215 · program services $1,209,701 · management and general $108,737 · fundraising $40,777

  • 13 · Office expenses

    total $2,189,739 · program services $1,948,868 · management and general $175,179 · fundraising $65,692

  • 14 · Information technology

    total $2,786,759 · program services $2,480,216 · management and general $222,941 · fundraising $83,602

  • 15 · Royalties

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

  • 16 · Occupancy

    total $5,663,768 · program services $5,040,753 · management and general $453,101 · fundraising $169,914

  • 17 · Travel

    total $2,788,774 · program services $2,482,009 · management and general $223,102 · fundraising $83,663

  • 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 $435,168 · program services $304,618 · management and general $130,550

  • 21 · Payments to affiliates

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

  • 22 · Depreciation, depletion and amortization

    total $9,635,683 · program services $8,575,758 · management and general $770,855 · fundraising $289,070

  • 23 · Insurance

    total $776,024 · program services $690,661 · management and general $62,082 · fundraising $23,281

  • 24a · Other expenses: ACADEMIC SUPPORT

    total $2,698,268 · program services $2,698,268

  • 24b · Other expenses: STUDENT ACTIVITIES

    total $893,637 · program services $893,637

  • 24c · Other expenses: RECRUITING FEES

    total $13,612,103 · program services $13,612,103

  • 24d · Other expenses: MAINTENANCE/SERVICE CONTRACT

    total $1,540,996 · program services $1,540,996

  • 24e · All other expenses

    total $3,093,518 · program services $2,753,227 · management and general $247,486 · fundraising $92,805

  • 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 $5,400 · end of year $5,050

  • 2 · Savings and temporary cash investments

    beginning of year $35,513,646 · end of year $40,372,773

  • 3 · Pledges and grants receivable

    beginning of year $8,053,195 · end of year $16,780,048

  • 4 · Accounts receivable

    beginning of year $2,949,393 · end of year $2,504,498

  • 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

  • 8 · Inventories for sale or use

    beginning of year $241,556 · end of year $263,249

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,727,438 · end of year $1,891,674

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

    $315,809,130

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

    $98,839,391

  • 10c · Land, buildings and equipment, net

    beginning of year $197,714,805 · end of year $216,969,739

  • 11 · Investments: publicly traded securities

    beginning of year $183,900,753 · end of year $232,926,962

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $10,423,731 · end of year $9,303,454

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,853,295 · end of year $12,609,011

  • 19 · Deferred revenue

    beginning of year $2,471,930 · end of year $2,475,402

  • 20 · Tax-exempt bond liabilities

    beginning of year $20,036,277 · end of year $17,914,920

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $6,530,281 · end of year $6,132,801

  • 27 · Net assets without donor restrictions

    beginning of year $323,058,826 · end of year $387,500,480

  • 28 · Net assets with donor restrictions

    beginning of year $76,579,308 · end of year $94,384,833

Mission and programs · 2025

Mission

SEE SCHEDULE O

Activities or mission (Part I)

TRINE, AN INTERNATIONALLY RECOGNIZED PRIVATE, INDEPENDENT, CO-EDUCATIONAL INSTITUTION OFFERS DEGREES IN VARIOUS PROGRAMS INCLUDING ENGINEERING, MATH, SCIENCE AND BUSINESS.

  • ALL OTHER REVENUE AND EXPENSES RELATE TO OTHER EDUCATIONAL INSTRUCTIONS IN SCIENCE, BUSINESS ADMINISTRATION, TEACHING EDUCATION, COMMUNICATIONS, AND SOCIAL SCIENCES.

    Expenses $127,061,751 · Grants $50,557,345 · Revenue $104,959,079

  • SEE SCHEDULE O

    Expenses $11,008,468 · Revenue $63,979,197

  • SEE SCHEDULE O

    Expenses $6,784,019 · Grants $120,402 · Revenue $24,715,766

  • SEE SCHEDULE O

    Expenses $6,468,178

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dr Sheri G Trine

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr Alex Furth

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr Andrew R Hein

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr David Findlay

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr Dennis Argyle

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr Derek Reiners

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr James Fabiani

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr Jason A Stechschulte

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr Jeffrey L Turner

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr Jerry Allen

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr Joe Jordan

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr John B Pellegrino Jr

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr John Counceller

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr Keith E Busse

    BOARD VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Mr Keith M Turner

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr Kenneth Ehinger

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr Larry E Reiners

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr Lynn A Brooks

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Mr Mark Music

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr Michael D Axel

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr Michael Eikenberry

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr Richard Oeder

    BOARD MEMEBER

    Total calculated
    $0
    Hours/week
    1

  • Mr Rick Henvey

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr Rick L James

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Mr Timothy J Haffner

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr William Dubois

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ms Crystal Sattler

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ms Elizabeth F Rooney

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Ms Sarah Waidelich

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ms Theresa E Wagler

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dr Anthony Kline

    PRESIDENT/CEO

    Total calculated
    $255,305
    From this org
    $212,471
    From related orgs
    $0
    Other
    $42,834
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $202,336
    Bonus
    $10,000
    Other
    $135
    Deferred
    $22,365
    Nontaxable benefits
    $20,469
    Filer's total
    $255,305

  • Dr Earl D Brooks II

    CHANCELLOR

    Total calculated
    $612,763
    From this org
    $571,763
    From related orgs
    $0
    Other
    $41,000
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $211,950
    Bonus
    $359,245
    Other
    $568
    Deferred
    $41,000
    Nontaxable benefits
    $0
    Filer's total
    $612,763

  • Ms Kayla Warren

    SVP/CFO

    Total calculated
    $242,764
    From this org
    $209,570
    From related orgs
    $0
    Other
    $33,194
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $199,480
    Bonus
    $10,000
    Other
    $90
    Deferred
    $22,604
    Nontaxable benefits
    $10,590
    Filer's total
    $242,764

  • Mr Matthew Land

    VP FOR ADVANCEMENT

    Total calculated
    $207,400
    From this org
    $168,185
    From related orgs
    $0
    Other
    $39,215
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $162,978
    Bonus
    $5,000
    Other
    $207
    Deferred
    $18,746
    Nontaxable benefits
    $20,469
    Filer's total
    $207,400

  • Mr Max Baumgartner

    PROFESSOR & PROGRAM DIRECTOR

    Total calculated
    $186,268
    From this org
    $148,802
    From related orgs
    $0
    Other
    $37,466
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $148,185
    Bonus
    $0
    Other
    $617
    Deferred
    $16,997
    Nontaxable benefits
    $20,469
    Filer's total
    $186,268

  • Ms Keirsten Eberts

    VP OF ONLINE & INTERNATIONAL STUDIES

    Total calculated
    $184,194
    From this org
    $149,547
    From related orgs
    $0
    Other
    $34,647
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $139,419
    Bonus
    $10,000
    Other
    $128
    Deferred
    $17,714
    Nontaxable benefits
    $16,933
    Filer's total
    $184,194

  • Ms Kimberly Bennett

    VP FOR ENROLLMENT MANAGEMENT

    Total calculated
    $179,729
    From this org
    $155,816
    From related orgs
    $0
    Other
    $23,913
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $140,429
    Bonus
    $15,000
    Other
    $387
    Deferred
    $16,576
    Nontaxable benefits
    $7,337
    Filer's total
    $179,729

  • Ms Lisa M Clemens

    DEAN - BROOKS COLLEGE

    Total calculated
    $178,772
    From this org
    $153,177
    From related orgs
    $0
    Other
    $25,595
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $148,091
    Bonus
    $5,000
    Other
    $86
    Deferred
    $18,258
    Nontaxable benefits
    $7,337
    Filer's total
    $178,772

  • Dr John F Shannon

    PRESIDENT/CEO (LEFT 6/2024)

    Total calculated
    $175,000
    From this org
    $175,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $175,000
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $175,000

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 committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 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 1A TRAVEL FOR COMPANIONS
SPOUSAL TRAVEL IS ALLOWED FOR THE PRESIDENT'S WIFE AND IS INCLUDED IN TAXABLE INCOME.
SCHEDULE J, PART I, LINE 1A HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE
A HOUSING ALLOWANCE IS PROVIDED FOR THE PRESIDENT. THIS ALLOWANCE IS ALSO INCLUDED IN TAXABLE INCOME.
SCHEDULE J, PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN
DR. JOHN SHANNON, FORMER PRESIDENT/CEO, RECEIVED A $175,000 SEVERANCE PAY OUT.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

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.

  • INNOVATION ONE

    EDUCATION · IN · income $0 · assets $289,645

    Directly controlled by TRINE UNIV

  • EDUCATION ONE

    EDUCATION · IN · income $786,548 · assets $1,752,507

    Directly controlled by TRINE UNIV

Related corporations and trusts

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

  • CHARITABLE REMAINDER TRUSTS (4)

    TRUST · CHAR. REM. TR · IN

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2025
Filed
15 September 2026
IRS schema version
2025v4.2
Source object
202612589349300916

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