Aquinas College
2012 – 2013 Annual Report
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President’s Message . . . . . . . . . . . . Financial Statements . . . . . . . . . . . . Board of Directors. . . . . . . . . . . . . . Real Life Stories . . . . . . . . . . . . . . . . Donation/Tax Information. . . . . . .
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To view a complete list of all donors, please visit: aquinas.edu/annualreport
Dear Friends of Aquinas, I am pleased to present the 2012 – 2013 Annual Report. There are great things happening at Aquinas College, and we want you to know that we are growing and moving in a positive direction. We welcomed 530 new students to campus this fall, and our incoming freshmen class presents a strong academic profile, holding an average 3.5 GPA and 24 ACT score. We are poised to begin construction on the Alksnis Athletics & Recreation Building and a new residence facility that will be patterned after our popular apartments that house upperclassmen. The positive energy generated by our students and the new construction is palpable. We are grateful for the significant role you play in helping our Aquinas students achieve their academic goals and in strengthening our status as an exceptional Catholic liberal arts college. We rely on the commitment of our friends and alumni to provide financial support for scholarships, the Aquinas Fund and capital projects. Thank you for your continued dedication to the mission of Aquinas College. Together, we can make all the difference in the world. Sincerely,
Juan R.Olivarez, PhD 3
Aquinas College Financial Statements
June 30, 2013 and 2012 Consolidated Statement of Financial Position Assets 2013 2012 Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . $ 918,770 $ 564,807 Accounts receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,665,344 5,600,046 Other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,287,309 9,199,475 Investments held for long-term purposes. . . . . . . . . . 28,578,347 26,646,337 Land, buildings, and equipment. . . . . . . . . . . . . . . . . . . 40,730,447 41,704,440 Total Assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85,180,217 83,715,105 Liabilities Accounts payable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,126,239 Bonds and notes payable. . . . . . . . . . . . . . . . . . . . . . . . . 21,678,290 Other liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,370,518 Total liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28,175,047 Net Assets Total net assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57,005,170 Total liabilities and net assets. . . . . . . . . . . . . . . $ 85,180,217
3,672,987 24,198,988 3,208,246 31,080,221
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52,634,884 83,715,105
Consolidated Statement of Activities 2013 2012 Total Revenues, Gains, and Other Support. . . . . . . . $ 40,989,976 $39,299,751 Total Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36,619,690 36,826,987 Increase (Decrease) in Net Assets. . . . . . . . . . . . . . . . . . . . . . . 4,370,286 2,472,764 Net Assets - Beginning of year. . . . . . . . . . . . . . . . . . . . . . . . . 52,634,884 50,162,120 Net Assets - End of year. . . . . . . . . . . . . . . . . . . . . . . . . . . $ 57,005,170 $ 52,634,884 Aquinas College Endowments Net assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4
2013 2012 35,278,793 $ 32,782,854
Pictured: l to r President Olivarez, Anthony Alksnis, Greg Alksnis, Sally Alksnis
Greg Alksnis ‘71
“Aquinas College provided the opportunity for me to develop in body, mind and spirit,” said Greg Alksnis. “College athletics whether they are intramural, team or club competition are important to the overall college experience. It has been my desire to support Aquinas in its commitment to promote a healthy competitive spirit in its students along with the value of maintaining a healthy body throughout their lives.”
Pictured:
Bottom Row l to r: Ms. Debra Bailey, Sr. Nathalie Meyer, OP - Secretary, Dr. Juan Olivarez, LG (Ret) John Nowak - Chair, Sr. Aquinas Weber, OP, Sr. Mary Kay Oosdyke, OP, Sr. Maureen Geary, OP Back Row l to r: Mr. Michael Lown - Treasurer, Mr. Robert Woodhouse, Mr. Dennis Echelbarger, Dr. Donald Burns - Vice Chair, Mr. Thomas Czerney, BG (Ret) James Brunson, Mr. Richard Durell, Mr. Matt Wey
Board of Trustees
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Nate Schall ‘17
Jacqueline Phillips ‘15
Chelsea Sedlecky ‘14
“I am so grateful for Aquinas’ strong commitment to bestowing students like me with generous scholarships. Aquinas offered me almost twice the dollar amount of any other college or university that I applied to. This college is certainly a beneficial and valuable investment for my future!”
“From the depths of my heart, I would like to thank you for your contribution to the Aquinas Fund. I would not be here without the gifts you have shared. I love Aquinas and everyone I have gotten a chance to encounter. I am immensely happy that you support the Aquinas Fund.”
“I am so grateful for every scholarship I have received at Aquinas College; thanks to each generous donor and my part-time jobs, I am graduating in the spring without having taken a single loan and my tuition paid in full. As the first ever recipient of the Ryan Scholarship, I worked harder than ever so I wouldn’t disappoint those supporting me financially. Although I am eager to graduate, I know that it will be difficult to say goodbye to a place that has impacted me in a way that I will never forget.”
Real Life Stories
Make a planned gift and leave a legacy… There are many ways to give to Aquinas College. You can make a gift through your estate plan without giving any money right now, or you can make a gift that will return an income to you, such as an annuity. Regardless of the method you choose, you may designate your gift to the area that matters the most to you and leave a legacy at Aquinas College. If you have already made a planned gift, please share your plans with us. We would love to hear your story.
Take Advantage of IRA Rollover by December 31, 2013… Thanks to the extended charitable IRA legislation, you can once again make outright gifts using IRA funds without tax complications. This means that you can, if you’re age 70½ or older, make direct distributions from your IRA to a qualified charity or charities, not counting the distribution as income and not itemizing the charitable contribution. If you are required to receive minimum distributions from your IRA, and you do not need the money for personal use, consider using those funds as a charitable gift. While you cannot claim a charitable deduction for the IRA gifts, you will not pay income tax on the amount. We recommend you discuss your particular circumstance with your tax or financial professional. Should you have any questions, please contact: Aquinas Planned Giving Team at (800) 748-0186 or email plannedgifts@aquinas.edu. 7
1607 Robinson Road SE | Grand Rapids, MI 49506-1799 | (800) 748-0186 | www.aquinas.edu