Adrian College FY2021 filing

Tax-deductible

Adrian, MI501(c)(3)Since 1859Colleges & UniversitiesEIN 38-1357980Revenue $97.3M in FY2021

On file with the IRSadrian.edu110 S Madison St, 49221-2518 · Adrian, MITax-exempt since 0000School — 170(b)(1)(A)(ii)

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Adrian College is a liberal arts, private College offering bachelor and master degree programs.

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
$1.5M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $4.5M a year · 5% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.5M
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $1.1M
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$57.6M
34% of total assets
Looks good: liabilities are 34% of assets; 50% or less.
Pt X · Ln 26
Independent board members
31
of 31 voting members
Looks good: 31 of 31 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$97.3M
+3% vs prior year
Spent
$88.7M
To programs
93%
Net assets
$112.6M
By yearFY2020–FY2025
Revenue
$97.3M
FY2021▲ +3%
Tap a bar for its year
Revenue by fiscal year
FY2020$94.0M
FY2021$97.3M
FY2022$97.5M
FY2023$104.8M
FY2024$100.8M
FY2025$96.6M
Expenses
$88.7M
FY2021▼ -2%
Tap a bar for its year
Expenses by fiscal year
FY2020$90.1M
FY2021$88.7M
FY2022$99.1M
FY2023$95.1M
FY2024$95.9M
FY2025$95.1M
Net assets
$112.6M
FY2021▲ +21%
Tap a bar for its year
Net assets by fiscal year
FY2020$93.2M
FY2021$112.6M
FY2022$100.6M
FY2023$114.1M
FY2024$126.0M
FY2025$132.6M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in 0000.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $82.3M Management & general 7% · $6.2M Fundraising 0% · $202K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

38 people listed on the 990; $1.5M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$743,464Pt VII · Sec A
VP for Business Affairs - CFO
$155,130Pt VII · Sec A
VP for Enrollment Manageme
$147,573Pt VII · Sec A
Professor of Econmics
$118,720Pt VII · Sec A
VP for Academic Affairs
$108,642Pt VII · Sec A
Professor of Accountancy
$104,237Pt VII · Sec A
VP for Development
$103,772Pt VII · Sec A
$0Pt VII · Sec A

Jeffrey Docking’s $882K as President is at the 98th percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Jeffrey Docking$881,511$809,328$1,013,527$737,548$743,464$711,316
Jerry Wright$133,901$177,657$165,017$209,076$155,130$206,435
Frank Hribar$165,584$163,680$159,922$156,864$147,573$150,867
Darin Seiler$139,476$127,145————
Andrea Milner$134,870$127,380$116,485$113,941$108,642$111,277
Jim Mahony$132,126$124,512$120,125———
Phil Mishka$124,384—————
Cheryl Nutter$122,530$119,659$119,778$115,396——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers bachelor's and master's degrees in liberal arts.

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Provided by the organization

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2 programs · $82.3M · in their own filed words · FY2020
01

Instruction

The exempt purpose of the school is the teaching of primarily undergraduate higher education courses, along with some graduate courses, to the school's students in order for them to obtain a liberal arts bachelor or master degree and enjoy a full college experience.

$59.0Mprogram expense
02

Room and Board

The exempt purpose is housing and feeding of the school's students, allowing them to sustain residency on campus in order to attend classes and achieve a liberal arts bachelor or master degree.

$23.2Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
See all 6 funders →
Grants paid · 6 grants · $237.2M · 2019–2024
Unitemized GrantFY2024$37,753,284
Unitemized GrantFY2023$38,623,940
Unitemized GrantFY2022$40,076,975
Unitemized GrantFY2021$40,870,316
Unitemized GrantFY2020$40,776,218
Unitemized GrantFY2019$39,138,585

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$97.3M
Ln 12
Fees for servicesLn 2g$82.4M
Gifts and grantsLn 1h$9.1M
Investment incomeLn 3$5.5M
Money outPt IX
$88.7M
Ln 25
Programscol B$82.3M
Managementcol C$6.2M
Fundraisingcol D$202K
Owns and owesPt X
$112.6M
net assets · Ln 32
Cash and savingsLn 1–2$8.4M
Total assetsLn 16$170.2M
LiabilitiesLn 26$57.6M
PeoplePt VI, VII
38
listed · VII A
PaidVII A7
Voting boardVI 1a31
IndependentVI 1b31
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$9.1M
Government grantsLn 1e$4.3M
Noncash giftsLn 1g$114K
Fees for servicesLn 2g$82.4M
Investment incomeLn 3$5.5M
Other incomeLn 4–11$193K
Gains on assetsLn 7$1.2M
Total revenueLn 12$97.3M
Assets in detailPt X, end of year
CashLn 1$8.4M
Cash and savings togetherLn 1–2$8.4M
InvestmentsLn 11–13$43.8M
Land, buildings, equipmentLn 10c$78.2M
Other assetsLn 15$29.3M
Total assetsLn 16$170.2M
LiabilitiesLn 26$57.6M
Net assetsLn 32$112.6M
OperationsPt I, VI
EmployeesI 51,097
VolunteersI 633
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$1.3M$8.4M
InvestmentsLn 11–13$33.6M$43.8M
Land, buildings, equipmentLn 10c$79.7M$78.2M
Total assetsLn 16$149.0M$170.2M
LiabilitiesLn 26$55.8M$57.6M
Net assetsLn 32$93.2M$112.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$41.7M$41.7M
Grants and assistance to foreign recipientsLn 3$2.5M$2.5M
Pay of current officers, directors and key staffLn 5$905K$498K$407K
Other salaries and wagesLn 7$17.7M$16.7M$898K$115K
Pension plan contributionsLn 8$1.3M$745K$539K$11K
Other employee benefitsLn 9$2.8M$1.8M$1.0M$30K
Payroll taxesLn 10$1.2M$1.1M$84K$9K
Legal feesLn 11b$74K$74K
Accounting feesLn 11c$128K$128K
Investment management feesLn 11f$88K$88K
Other fees for servicesLn 11g$5.1M$4.9M$185K
Advertising and promotionLn 12$66K$38K$6K$22K
Office expensesLn 13$1.4M$1.2M$152K$12K
Information technologyLn 14$683K$683K
OccupancyLn 16$4.1M$3.2M$912K
TravelLn 17$940K$926K$12K$3K
InterestLn 20$2.5M$2.5M
Depreciation, depletion and amortizationLn 22$4.1M$2.3M$1.8M
InsuranceLn 23$599K$599K
Other expenses (24a–d)Ln 24$698K$698K
Total functional expensesLn 25$88.7M$82.3M$6.2M$202K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $96.6M$95.1M$1.5M$132.6M 990 PDF
FY2024 $100.8M$95.9M$4.8M$126.0M 990 PDF
FY2023 $104.8M$95.1M$9.6M$114.1M 990 PDF
FY2022 $97.5M$99.1M−$1.6M$100.6M 990 PDF
FY2021 Viewing $97.3M$88.7M$8.6M$112.6M 990 PDF
FY2020 $94.0M$90.1M$3.9M$93.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $97,250,139 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $8,453,034$9,103,951
I-9 Program service revenuePrior year $81,023,150$82,406,877
I-10 Investment incomePrior year $4,306,679$5,546,061
I-11 Other revenuePrior year $264,923$193,250
I-12 Total revenuePrior year $94,047,786$97,250,139
I-13 Grants and similar amounts paidPrior year $42,290,893$44,260,007
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $25,385,880$23,969,430
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $22,448,826$20,456,000
I-18 Total expensesPrior year $90,125,599$88,685,437
I-19 Revenue less expensesPrior year $3,922,187$8,564,702
Part VI · Governance 31 of 31 board members independent, 1 to look at
VI-1a Voting members of the governing body31
VI-1b Independent voting members31
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $97,250,139 across 9 lines filed
Lines not itemized here account for $117,737 of total revenue; see the IRS return.
VIII-1e Government grants$4,341,269
VIII-1f All other contributions, gifts and grants$4,762,682
VIII-1g Noncash contributions (included above)$114,156
VIII-1h Total contributions, gifts and grants$9,103,951
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $82,390,097 · Unrelated business $16,780$82,406,877
VIII-3 Investment incomeExcluded from tax $4,362,621$4,362,621
VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,183,440$1,183,440
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $13,198 · Unrelated business $62,315$75,513
VIII-12 Total revenueRelated to mission $82,439,438 · Unrelated business $160,689 · Excluded from tax $5,546,061$97,250,139
Part IX · Statement of functional expenses $88,685,437 across 20 lines filed
IX-2 Grants to domestic individualsPrograms $41,728,404$41,728,404
IX-3 Grants and assistance to foreign recipientsPrograms $2,531,603$2,531,603
IX-5 Pay of current officers, directors and key staffPrograms $497,763 · Management $407,260$905,023
IX-7 Other salaries and wagesPrograms $16,708,330 · Management $898,189 · Fundraising $114,966$17,721,485
IX-8 Pension plan contributionsPrograms $744,709 · Management $538,814 · Fundraising $10,777$1,294,300
IX-9 Other employee benefitsPrograms $1,766,324 · Management $1,009,355 · Fundraising $30,301$2,805,980
IX-10 Payroll taxesPrograms $1,149,556 · Management $84,291 · Fundraising $8,795$1,242,642
IX-11b Legal feesManagement $73,558$73,558
IX-11c Accounting feesManagement $128,020$128,020
IX-11f Investment management feesPrograms $87,838$87,838
IX-11g Other fees for servicesPrograms $4,890,144 · Management $185,214$5,075,358
IX-12 Advertising and promotionPrograms $38,149 · Management $5,582 · Fundraising $22,452$66,183
IX-13 Office expensesPrograms $1,228,754 · Management $151,936 · Fundraising $12,424$1,393,114
IX-14 Information technologyPrograms $683,163$683,163
IX-16 OccupancyPrograms $3,233,700 · Management $911,504$4,145,204
IX-17 TravelPrograms $926,057 · Management $11,746 · Fundraising $2,542$940,345
IX-20 InterestPrograms $2,463,811$2,463,811
IX-22 Depreciation, depletion and amortizationPrograms $2,279,909 · Management $1,822,147$4,102,056
IX-23 InsurancePrograms $599,163$599,163
IX-24 Other expenses (24a–d)Programs $698,187$698,187
IX-25 Total functional expensesPrograms $82,255,564 · Management $6,227,616 · Fundraising $202,257$88,685,437
Part X · Balance sheet $170,162,102 assets, 17 lines filed
Asset lines not itemized here account for $919,921; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,333,980$8,409,925
X-3 Pledges and grants receivableStart of year $2,621,190$2,108,873
X-4 Accounts receivableStart of year $4,465,829$6,004,442
X-8 Inventories for sale or useStart of year $733,151$691,041
X-9 Prepaid expenses and deferred chargesStart of year $925,928$639,630
X-10c Land, buildings and equipment, netStart of year $79,726,124$78,234,607
X-11 Publicly traded securitiesStart of year $33,635,547$43,842,643
X-15 Other assetsStart of year $24,366,861$29,311,020
X-16 Total assetsStart of year $148,979,647$170,162,102
X-17 Accounts payable and accrued expensesStart of year $5,617,782$7,526,855
X-19 Deferred revenueStart of year $388,250$2,522,805
X-25 Other liabilitiesStart of year $2,423,118$3,395,068
X-26 Total liabilitiesStart of year $55,820,484$57,575,620
X-27 Net assets without donor restrictionsStart of year $20,824,284$25,845,775
X-28 Net assets with donor restrictionsStart of year $72,334,879$86,740,707
X-32 Total net assets or fund balancesStart of year $93,159,163$112,586,482
X-33 Total liabilities and net assetsStart of year $148,979,647$170,162,102
Part XI · Reconciliation of net assets $112,586,482 net assets at year end
XI-1 Total revenue$97,250,139
XI-2 Total expenses$88,685,437
XI-3 Revenue less expenses$8,564,702
XI-4 Net assets at start of year$93,159,163
XI-5 Net unrealized gains (losses) on investments$5,240,436
XI-9 Other changes in net assets$5,622,181
XI-10 Net assets at end of year$112,586,482

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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