2015-05-15T13:27:25-05:00 2014-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2013-07-01 381359081 ALBION COLLEGE ALBI 5176290289 611 EAST PORTER STREET ALBION MI 49224 JERRY WHITE VP FOR FINANCE AND ADMINISTRATION 5176290289 2015-05-07 1 VICKI L VANDENBERG CPA P00100422 2695674500 2013 2016-03-07 17:11:31Z JERRY WHITE 611 EAST PORTER STREET ALBION MI 49224 96824604 0 X WWW.ALBION.EDU X 1835 MI ALBION COLLEGE IS AN UNDERGRADUATE, LIBERAL ARTS INSTITUTION COMMITTED TO ACADEMIC EXCELLENCE. WE ARE LEARNING-CENTERED AND RECOGNIZE THAT VALUABLE LEARNING TAKES PLACE IN AND OUTSIDE OF THE CLASSROOM, ON AND OFF THE CAMPUS. 26 25 1435 15 0 19888 5969161 6416340 56998355 57387277 3815854 5077838 481652 799266 67265022 69680721 24127822 24469460 0 0 26876677 26573639 40413 40414 3876395 25101910 26532361 76146822 77615874 -8881800 -7935153 303428008 320016109 79989621 79346943 223438387 240669166 X ALBION COLLEGE IS AN UNDERGRADUATE, LIBERAL ARTS INSTITUTION COMMITTED TO ACADEMIC EXCELLENCE. WE ARE LEARNING-CENTERED AND RECOGNIZE THAT VALUABLE LEARNING TAKES PLACE IN AND OUTSIDE OF THE CLASSROOM, ON AND OFF THE CAMPUS. 0 0 47197761 24469460 46521102 INSTRUCTIONAL - ALBION COLLEGE IS A PRIVATE, SELECTIVE, COEDUCATIONAL, RESIDENTIAL INSTITUTION OF HIGHER EDUCATION AFFILIATED WITH THE UNITED METHODIST CHURCH, BUT NON-SECTARIAN IN PRACTICE. THE COLLEGE PRINCIPALLY OFFERS ACADEMIC COURSES AND PROGRAMS LEADING TO A BACHELORS DEGREE IN LIBERAL ARTS. APPROXIMATELY 1,300 STUDENTS ARE ENROLLED IN THE COLLEGE. 3778515 3961365 AUXILIARY - DINING SERVICES - ALBION COLLEGE IS A RESIDENTIAL INSTITUTION AND THE PRIMARY FUNCTION OF THE DINING AND HOSPITALITY SERVICES, MANAGED BY BON APPETIT MANAGEMENT COMPANY, IS TO PROVIDE FOOD FOR OUR STUDENTS, FACULTY, STAFF, AND GUESTS. WE STRIVE TO PROVIDE A WIDE SELECTION OF HIGH QUALITY PRODUCTS AND SERVICES THROUGH A VARIETY OF EXPERIENCES. THESE EXPERIENCES REFLECT OUR COMMITMENT TO BEING RESPONSIVE TO THE CHANGING NEEDS AND DESIRES OF OUR DIVERSE AUDIENCE. OPERATIONS INCLUDE AN ALL-YOU-CAN-EAT DINING HALL, QUICK-SERVE RESTAURANT, A COFFEE SHOP, LODGING, CATERING SERVICES, FACULTY/STAFF LUNCH BUFFET AND CONFERENCE AND EVENT SERVICES. 3480854 6480942 AUXILIARY - RESIDENCE HALLS - ALBION COLLEGE IS A COLLEGE COMMUNITY INSTITUTION THAT EMPHASIZES COMMUNITY THROUGH EDUCATION IN AND OUT OF THE CLASSROOM. ALBION COLLEGE STRIVES TO PROVIDE OUR STUDENTS WITH QUALITY HOUSING THAT ENHANCES A STUDENT'S LEARNING EXPERIENCE. 12274804 423868 VARIOUS OTHER PROGRAM SERVICES RELATING TO THE ORGANIZATION'S MISSION. 12274804 423868 66731934 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 0 1 1 0 1 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 188 0 1 1435 1 1 1 0 0 0 0 1 1 0 0 0 0 X 26 25 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X MARK S HOLBROOK CONTROLLER 5176290289 611 EAST PORTER STREET ALBION MI 49224 PAUL D TOBIAS TRUSTEE 1.00 0.00 X X 0 0 0 MICHAEL L FRANDSEN PRESIDENT - INTERIM 40.00 4.00 X X 202848 0 21957 HOLLIS WILLIAMS TRUSTEE 1.00 0.00 X 0 0 0 JOSEPH S CALVARUSO TRUSTEE 1.00 0.00 X 0 0 0 DIANE S CARR TRUSTEE 1.00 0.00 X 0 0 0 STEVEN MG CHARNLEY TRUSTEE 1.00 0.00 X 0 0 0 GEORGE S CHAVEL TRUSTEE 1.00 0.00 X 0 0 0 STEPHEN I GREENHALGH TRUSTEE 1.00 0.00 X 0 0 0 MICHAEL J HARRINGTON TRUSTEE 1.00 0.00 X 0 0 0 ROBERT B HETLER TRUSTEE 1.00 0.00 X 0 0 0 CASEY C HOFFMAN TRUSTEE 1.00 0.00 X 0 0 0 ANNE H HUNTER TRUSTEE 1.00 0.00 X 0 0 0 DAVID K JOHNSON TRUSTEE 1.00 0.00 X 0 0 0 DEBORAH L KIESEY TRUSTEE 1.00 0.00 X 0 0 0 CAROL A LEISENRING TRUSTEE 1.00 0.00 X 0 0 0 THOMAS L LUDINGTON TRUSTEE 1.00 0.00 X 0 0 0 ROBERT D MUSSER III TRUSTEE 1.00 0.00 X 0 0 0 MARK E NEWELL TRUSTEE 1.00 0.00 X 0 0 0 JEFFREY A OTT TRUSTEE 1.00 0.00 X 0 0 0 JEFFREY C PETHERICK TRUSTEE 1.00 0.00 X 0 0 0 WILLIAM A RITTER TRUSTEE 1.00 0.00 X 0 0 0 LAWRENCE B SCHOOK TRUSTEE 1.00 0.00 X 0 0 0 BILL SCHUETTE TRUSTEE 1.00 0.00 X 0 0 0 SAMUEL J SHAHEEN TRUSTEE 1.00 0.00 X 0 0 0 J DONALD SHEETS CHAIRMAN 1.00 8.00 X 0 0 0 JEFFREY D WEEDMAN TRUSTEE 1.00 0.00 X 0 0 0 SALLY J WALKER VP STUDENT AFFRS & DEAN OF STDTS 45.00 0.00 X 139743 0 17758 SUSAN P CONNER VP FOR FACULTY & PROVOST 45.00 0.00 X 154670 0 31450 JOSHUA D MERCHANT VP FOR INSTITUTIONAL ADVANCEMENT 45.00 0.00 X 163581 0 10774 MADELEINE E RHYNEER VP FOR ENROLLMENT 45.00 0.00 X 163418 0 27729 DONNA M RANDALL CHANCELLOR 45.00 0.00 X 271825 0 33692 1096085 0 143360 6 0 1 0 BON APPETIT MANAGEMENT CO 100 HAMILTON AVE PALO ALTO CA 94301 CAMPUS DINING SERVICE CONTRACTOR 3064933 GORDON MARTIN BUILDERS 1556 EAST MICHIGAN AVE ALBION MI 49224 GENERAL CONTRACTOR 2816674 AMERICAN BUILDING MAINTENANCE 900 WILSHIRE DRIVE SUITE 310 TROY MI 48084 CUSTODIAL SERVICES CONTRACTOR 805012 ROYALL & COMPANY 1920 EAST PARHAM ROAD RICHMOND VA 23228 ENROLLMENT SERVICES CONTRACTOR 643661 OTIS ELEVATOR COMPANY 1300 S 8TH STREET KALAMAZOO MI 49009 ELEVATOR INSPECTION AND MAINTENANCE CONT 605293 27 373044 459730 5583566 857050 6416340 TUITION AND FEES 611600 46521102 46521102 RESIDENT/DINING 611600 10442307 10442307 OTHER PROGRAM REVENUE 900099 423868 423868 57387277 2137010 2137010 29974238 7001 26974656 65755 2999582 -58754 2940828 2940828 4060 373044 99373 -95313 -95313 45370 4099 41271 41271 MISCELLANEOUS INCOME 900099 853308 853308 853308 69680721 57387277 0 5877104 X 63000 63000 24273172 24273172 133288 133288 1200757 179678 861702 159377 19356475 15708070 2066695 1581710 1608926 1443204 4479 161243 3017294 2706505 8400 302389 1390187 1246995 3869 139323 261083 16122 244219 742 100628 100628 40414 40414 655305 350487 287203 17615 9087967 7168709 1434260 484998 187077 1142 9695 176240 2983198 2613997 106804 262397 4152425 3557252 464075 131098 1464850 1136105 228878 99867 363762 197938 159050 6774 1352035 1174749 119197 58089 4903739 4211964 543977 147798 564940 282470 254223 28247 INTREST INSURANCE EXPEN 128169 128484 -473 158 FOOD 103218 79629 17804 5785 223965 58974 92860 72131 77615874 66731934 7007545 3876395 4584944 6973558 3129722 2911080 2414171 4555248 3946309 1874764 113206 118172 974405 1043184 183073212 93678885 91865959 89394327 49251964 56155174 138871779 150877804 3166061 5109488 6112798 303428008 320016109 15310666 15593294 162416 515917 59375000 57920000 412447 1977176 2794504 2751916 2523228 79989621 79346943 X 74763459 77970365 75341769 88004745 73333159 74694056 223438387 240669166 303428008 320016109 X -7935153 24311863 854068 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 175131823 1658010 29406236 5995412 6569929 400791 193229937 166697848 940844 19816237 3816358 7967748 539000 175131823 173225293 10169421 -8168957 3802378 4294531 431000 166697848 143511577 6310362 30918290 3360143 3713793 441000 173225293 132545362 6051070 11865766 2654203 3852418 444000 143511577 0.18810 0.38660 0.42530 1 0 2738162 2738162 128034224 64509620 63524604 23934155 7620083 16314072 28366671 21549182 6817489 89394327 MULTI-STRATEGY BOND FUND 23924339 F MULTI-STRATEGY EQUITY FUND 94788367 F PARTNERSHIPS 32165098 C 150877804 REFUNDABLE PERKINS LOAN PROGRAM 1993231 REFUNDABLE STUDENT DEPOSITS 529997 2523228 X 69698347 24311863 175222 24487085 45211262 24469460 24469460 69680722 53608866 462452 462452 53146414 24469460 24469460 77615874 PART III, LINE 1A: THE COLLEGE DOES NOT RECOGNIZE OR CAPITALIZE THE COLLECTIONS OF RARE BOOKS, ORIGINAL PAINTINGS, VALUABLE PRINTS, AND OTHER ORIGINAL WORKS OF ART THAT HAVE BEEN RECEIVED AS DONATIONS OVER THE YEARS. COLLECTIONS ARE HELD FOR PUBLIC EXHIBITION, ARE PROTECTED, CARED FOR, AND PRESERVED AND ARE SUBJECT TO POLICY THAT REQUIRES PROCEEDS FROM SALE OF ITEMS TO ACQUIRE OTHER ITEMS FOR THE COLLECTIONS. PART III, LINE 4: ART COLLECTION - A MISSION OF THE DEPARTMENT IS TO EXPOSE OUR STUDENTS AND THE COMMUNITY TO FINE ARTS OF THE PAST AND PRESENT. TO THIS END, WE TEACH CLASSES AND CREATE EXHIBITIONS, DRAWING UPON OUR COLLECTION AND OF OUR CONTEMPORARIES. OUR TWO GALLERIES ARE THE VENUE FOR TWELVE EXHIBITIONS PER ACADEMIC YEAR WHICH ARE OPEN TO THE COLLEGE AND THE GENERAL PUBLIC. LIBRARY COLLECTION - THE LIBRARY COLLECTIONS HAVE THEIR ROOTS IN THE HISTORY OF ALBION COLLEGE. THEY FORM A VALUABLE ACADEMIC RESOURCE THAT SUPPORT OUR CENTRAL LIBERAL ARTS MISSION. THE COLLECTIONS ARE OPEN TO STUDENTS FOR STUDY AND RESEARCH AND PROVIDE A UNIQUE EXPERIENCE IN UNDERSTANDING LITERATURE, HISTORY AND THE HISTORY OF SCIENCE AND NATURAL HISTORY. PART V, LINE 4: ENDOWMENTS SUPPORT THE EDUCATIONAL PURPOSES OF THE COLLEGE. PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE COLLEGE AND RECOGNIZE A TAX LIABILITY IF THE COLLEGE HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE COLLEGE AND HAS CONCLUDED THAT AS OF JUNE 30, 2014 AND 2013, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE COLLEGE IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR FISCAL YEARS PRIOR TO 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: RELATED ORGANIZATION REVENUE 71,750. FUNDRAISING EXPENSE 99,373. GAMING EXPENSE 4,099. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP ALLOWANCES AND DISCOUNTS 24,469,460. PART XII, LINE 2D - OTHER ADJUSTMENTS: RELATED ORGANIZATION EXPENSE 358,980. FUNDRAISING EXPENSE 99,373. GAMING EXPENSE 4,099. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP ALLOWANCES AND DISCOUNTS 24,469,460. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 ALL PAMPHLETS, BROCHURES AND RECRUITING MATERIALS CONTAIN THE FOLLOWING LANGUAGE, "ALBION COLLEGE IS COMMITTED TO A POLICY OF EQUAL OPPORTUNITY AND NON-DISCRIMINATION ON THE BASIS OF SEXUAL ORIENTATION AND OF RACE, COLOR, NATURAL ORIGIN, RELIGION, SEX, AGE OR DISABILITY, AS PROTECTED BY LAW, IN ALL EDUCATIONAL PROGRAMS AND ACTIVITIES, ADMISSION OF STUDENTS AND CONDITIONS OF EMPLOYMENT." SCHEDULE E, PART I, LINE 6 TITLE IV AID FROM THE FEDERAL DEPARTMENT OF EDUCATION (SEOG, PELL, PERKINS LOANS, AND DIRECT LENDING LOANS) AND MICHIGAN GIFT AND MICHIGAN PROMISE FROM THE STATE OF MICHIGAN. 1 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES INSTRUCTIONAL (STUDY ABROAD PROGRAMS) 237838 0 0 0 0 0 0 237838 0 237838 EUROPE (INCLUDING ICELAND & GREENLAND) DIRECT ENROLLMENT IN OFF-CAMPUS PROGRAM 104550 WIRE TRANSFER N/A N/A EUROPE (INCLUDING ICELAND & GREENLAND) DIRECT ENROLLMENT IN OFF-CAMPUS PROGRAM 7001 WIRE TRANSFER N/A N/A EUROPE (INCLUDING ICELAND & GREENLAND) DIRECT ENROLLMENT IN OFF-CAMPUS PROGRAM 13031 WIRE TRANSFER N/A N/A EUROPE (INCLUDING ICELAND & GREENLAND) DIRECT ENROLLMENT IN OFF-CAMPUS PROGRAM 8230 WIRE TRANSFER N/A N/A EUROPE (INCLUDING ICELAND & GREENLAND) DIRECT ENROLLMENT IN OFF-CAMPUS PROGRAM 15989 WIRE TRANSFER N/A N/A EUROPE (INCLUDING ICELAND & GREENLAND) DIRECT ENROLLMENT IN OFF-CAMPUS PROGRAM 53885 WIRE TRANSFER N/A N/A EUROPE (INCLUDING ICELAND & GREENLAND) DIRECT ENROLLMENT IN OFF-CAMPUS PROGRAM 27567 WIRE TRANSFER N/A N/A EUROPE (INCLUDING ICELAND & GREENLAND) DIRECT ENROLLMENT IN OFF-CAMPUS PROGRAM 7585 WIRE TRANSFER N/A N/A 8 0 0 0 0 0 0 0 PART I, LINE 2: GRANT FUNDS ARE NOT USED OUTSIDE THE UNITED STATES WITH THE POSSIBLE EXCEPTION OF TRAVEL COSTS INCURRED BY RESEARCHERS COLLABORATING WITH PEERS IN FOREIGN COUNTRIES. X X X X 1 RUFFALO CODY PO BOX 3018 CEDAR RAPIDS IA 524063018 PHONATHON 0 348250 35881 312369 ESPONSORNOW PO BOX 1257 VACAVILLE CA 95696 FOOTBALL FUNDRAISER 1 13444 4533 8911 361694 40414 321280 PHONATHON 348250 348250 88471 BRITON GOLF CLASSIC 15410 11350 4060 5156 1713 1 13444 13444 4033 377104 373044 4060 5156 94217 99373 -95313 45370 3500 599 0 45370 3500 599 4099 41271 MI 1 0 0 0 1.00000 0.00000 MELISSA WALTON 415 S HANNAH ALBION MI 48801 0 MELISSA WALTON 0 MELISSA WALTON IS THE ASSOCIATE ATHLETIC DIRECTOR FOR THE COLLEGE AND DOES NOT RECEIVE ANY COMPENSATION FOR RUNNING THE RAFFLE. X 0 1 COLCHESTER PROPERTIES 611 EAST PORTER STREET ALBION MI 49224 382025320 501(C)(3) 63000 0 CASH N/A PROGRAM SUPPORT 1 0 SCHOLARSHIPS 1267 24273172 0 N/A N/A PART I, LINE 2: GRANTS ARE PROCURED BY FACULTY WITH THE ASSISTANCE OF THE COLLEGE'S GRANT MANAGER. MONITORING IS DONE BY GRANTEE, GRANT MANAGER AND SENIOR ACCOUNTANT FOR COMPLIANCE. ACTIVITY IS AUDITED AND REPORTED ANNUALLY IN THE COLLEGE'S FINANCIAL STATEMENTS. 1 X X X X 1 0 0 0 0 0 0 0 0 MICHAEL L FRANDSEN PRESIDENT - INTERIM 200945 0 0 0 1903 0 12195 0 9762 0 224805 0 0 0 SALLY J WALKER VP STUDENT AFFRS & DEAN OF STDTS 137630 0 0 0 2113 0 8787 0 8971 0 157501 0 0 0 SUSAN P CONNER VP FOR FACULTY & PROVOST 150172 0 0 0 4498 0 22357 0 9093 0 186120 0 0 0 JOSHUA D MERCHANT VP FOR INSTITUTIONAL ADVANCEMENT 163291 0 0 0 290 0 9435 0 1339 0 174355 0 0 0 MADELEINE E RHYNEER VP FOR ENROLLMENT 162082 0 0 0 1336 0 19193 0 8536 0 191147 0 0 0 DONNA M RANDALL CHANCELLOR 268261 0 0 0 3564 0 23886 0 9806 0 305517 0 0 0 PART I, LINE 4A JOSHUA MERCHANT, VP FOR INSTITUTIONAL ADVANCEMENT, RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $86,700. MADELEINE RHYNEER, VP FOR ENROLLMENT, RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $84,150. A MICHIGAN HIGHER EDUCATION FACILITIES AUTHORITY 2006-11-01 63385000 SCIENCE CENTER RENOVATION, REFINANCE OF 2004 BONDS AND OTHER 0 0 0 A 5465000 63385000 22437251 40546103 401646 22035605 2008 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 1 1 JPMORGAN CHASE BANK NA 20.000000000000 0 0 0 0 0 A 0 X 6 21726 DONOR ESTIMATED X 1114 DONOR ESTIMATED X 60 695661 ESTIMATED FMV X HORSES 4 57675 PROFESSIONAL APPRAIS X GETAWAY TRIP 1 56063 DONOR ESTIMATED X GRAND PIANO 1 33000 ESTIMATED FMV X MISCELLANEOUS 7 2444 ESTIMATED FMV 3 0 1 1 PART I, LINE 32B: THE ORGANIZATION SEEKS PROFESSIONAL ASSISTANCE, AS NEEDED, TO SELL NON-CASH CONTRIBUTIONS. PART I, LINE 33: THE ORGANIZATION DOES NOT REPORT REVENUES OR CORRESPONDING EXPENSE FOR COLLECTIONS OF ART OR BOOKS FORM 990, PART VI, SECTION A, LINE 2 J. DONALD SHEETS, JOSEPH CALVARUSO, WILLIAM STOFFER, AND SAMUEL SHAHEEN HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 MEMBERS OF THE BUSINESS OFFICE PROCESS AND FORWARD THE 990 PREPARATION INFORMATION TO AN ELECTRONIC PREPARER AND THE DRAFT FORM 990 IS SENT TO ALL MEMBERS OF THE BOARD OF TRUSTEES AND ALL COLLEGE OFFICERS. THE FORM 990 REVIEW COMMITTEE, COMPRISED OF THE AUDIT AND COMPLIANCE COMMITTEE AND OTHER BOARD MEMBERS AS APPROPRIATE, CONDUCT A RIGOROUS REVIEW OF THE FORM 990. OTHER BOARD MEMBERS MAY SUBMIT REVIEW STATEMENTS TO THE FORM 990 REVIEW COMMITTEE. THIS COMMITTEE REPORTS CHANGES AND CLARIFICATIONS TO THE BUSINESS OFFICE AS NECESSARY. PRIOR TO SUBMISSION OF THE FORM 990 TO THE IRS, ALL MEMBERS OF THE BOARD OF TRUSTEES AND ALL COLLEGE OFFICERS RECEIVE A COPY OF THE FINAL VERSION OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST DOCUMENT IS APPROVED BY THE AUDIT AND COMPLIANCE SUBCOMMITTEE ANNUALLY. THE APPROVED DOCUMENT IS THEN DISTRIBUTED TO BOARD MEMBERS, FACULTY, AND STAFF, AND ALL DOCUMENTS ARE COLLECTED PRIOR TO FINAL RELEASE OF THE 990 TO THE IRS. MEMBERS OF THE BOARD, PRESIDENT'S ADMINISTRATIVE COMMITTEE, FACULTY, AND STAFF WHO HAVE A CONFLICT OF INTEREST IN ANY MATTER SHALL REFRAIN FROM PARTICIPATING IN THE CONSIDERATION OF THE PROPOSED TRANSACTION. THE PERSON OR PERSONS INVOLVED WILL NOT VOTE ON SUCH MATTERS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION DETERMINATION PROCESS INCLUDED 1) REVIEW OF GROUP COMPENSATION, 2) ADVISEMENT FROM INDEPENDENT SEARCH CONSULTANT, 3) DISCUSSIONS OF PRESIDENTIAL SEARCH SUB-COMMITTEE OF THE BOARD OF DIRECTORS. OTHER OFFICERS AND KEY EMPLOYEES, MOST RECENTLY HIRED 2014. COMPENSATION DETERMINATION PROCESS INCLUDED 1) REVIEW OF PEER GROUP COMPENSATION, 2) ADVISEMENT FROM INDEPENDENT SEARCH CONSULTANTS, AND 3) CONSULTATION WITH PRESIDENTS OF OTHER HIGHER EDUCATION INSTITUTIONS. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE NOT PRESENTLY AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G OTHER SERVICES: PROGRAM SERVICE EXPENSES 7,168,709. MANAGEMENT AND GENERAL EXPENSES 1,434,260. FUNDRAISING EXPENSES 484,998. TOTAL EXPENSES 9,087,967. FORM 990, PART XI, LINE 9: INTEREST RATE SWAP -128,600. PENSION RELATED CHANGES 670,547. CHANGE IN ANNUITIES AND SPLIT-INTEREST OBLIGATIONS -210,938. CHANGE IN INTERESTS IN REMAINDER AND PERPETUAL TRUSTS HELD BY OTHERS 429,902. CHANGE IN VALUE OF INVESTMENT IN WASHINGTON GARNER 93,157. FORM 990 PART XII, LINE 2C THE OVERSIGHT PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. BRITON INVESTMENTS LLC 611 EAST PORTER STREET ALBION MI 49224 271782807 REAL ESTATE INVESTMENT MI ALBION COLLEGE COLCHESTER PROPERTIES INC 611 EAST PORTER STREET ALBION MI 49224 382025320 REAL ESTATE INVESTMENT MI 501(C)(2) ALBION COLLEGE 1 WG PROPERTIES 611 EAST PORTER STREET ALBION MI 49224 453832985 REAL ESTATE INVESTMENT MI 501(C)(3) LINE 5 ALBION COLLEGE 1 BRITON ACRES INC 611 EAST PORTER ALBION MI 49224 381361836 REAL ESTATE MI ALBION COLLEGE C 1.00000 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 COLCHESTER PROPERTIES B 63000 CASH