2024-04-06T12:59:14-05:00 2023-06-30 FORVIS LLP 111 E Wayne St Suite 600 Fort Wayne IN 46802 990 2022-07-01 350845258 INDIANA INSTITUTE OF TECHNOLOGY INC % SHELLY MUSOLF INDI 2604425561 1600 EAST WASHINGTON BLVD FORT WAYNE IN 46803 JUDY K ROY TREASURER 2604225561 2023-05-15 true JUDY K ROY 999009999 Lauren R Denton P01571860 2604604000 2 2022 2023-04-26 12:10:37Z INDIANA TECH KARL W EINOLF 1600 E WASHINGTON BLVD FORT WAYNE IN 46803 132484417 false X WWW.INDIANATECH.EDU X 1948 IN PROVIDES LEARNERS WITH CAREER-FOCUSED, PROFESSIONAL EDUCATION IN THE AREAS OF BUSINESS, COMPUTER STUDIES, ENGINEERING, CRIMINAL SCIENCE, AND GENERAL STUDIES. 19 17 1042 50 288684 0 19982950 6082896 77654762 76354806 17861941 4695166 36608 49356 115536261 87182224 30339718 28672583 0 0 29540061 31069950 233400 140250 1222954 37933919 34843596 98047098 94726379 17489163 -7544155 320737366 320817510 44960463 48786762 275776903 272030748 X INDIANA TECH IS A PRIVATE, INDEPENDENT, AND NON-DENOMINATIONAL UNIVERSITY. STUDENTS ARE PREPARED FOR ACTIVE PARTICIPATION IN THE COMPLEX, GLOBAL SOCIETY OF THE 21ST CENTURY AND ARE MOTIVATED TOWARD A LIFE OF SIGNIFICANCE AND WORTH. ABOUT 1,300 STUDENTS ARE ENROLLED IN THE TRADITIONAL DAY SCHOOL, AND THE COLLEGE OF PROFESSIONAL STUDIES HAS ABOUT 5,500 STUDENTS ENROLLED. false false 76461055 28672583 76354806 AT INDIANA INSTITUTE OF TECHNOLOGY, WE EXCEL AT EDUCATING STUDENTS FROM ALL WALKS OF LIFE, FOR ALL KINDS OF MEANINGFUL WORK. WE'RE A TRULY INCLUSIVE COMMUNITY OF LEARNERS, ENSURING THAT STUDENTS ARE SUPPORTED, INSPIRED, AND EMPOWERED TO MAXIMIZE THEIR PROFESSIONAL PROSPECTS, ADVANCE IN THEIR CAREERS, AND IMPROVE THEIR LIVES AND THE LIVES OF OTHERS. WE BELIEVE STUDENTS LEARN BEST WHEN THEY MEANINGFULLY ENGAGE WITH A REAL-WORLD PROFESSOR. WITH AN ALUM. WITH A CAUSE. WITH A TEAM. WITH A PEER. SIMPLY PUT, OUR MODEL IS HANDS-ON. INDIANA TECH OFFERS DEGREES AT THE ASSOCIATE, BACHELOR'S, MASTER'S AND DOCTORAL LEVELS, IN FIELDS SUCH AS ENGINEERING, COMPUTER SCIENCES, CYBERSECURITY, BUSINESS, ANALYTICS, CRIMINAL JUSTICE, BIOLOGY, HEALTH SCIENCES, AND MORE. IN ALL, THE UNIVERSITY OFFERS MORE THAN 60 QUALITY DEGREE OPTIONS. 76461055 true true false false false false false true false true true false false false true false true false true true true false false true true false false false true true true false false false false false false false false false false true false false false false true false false false true 5519 0 1042 true true true false false false false false false false false false false false X 19 17 false false false false false false false true true false false true true true true true true true true false IN X SHELLY MUSOLF 2603992828 1600 E WASHINGTON BLVD FORT WAYNE IN 46803 KARL W EINOLF PRESIDENT 40.0 0.0 X X 512936 0 137069 JUDY K ROY TREASURER 40.0 0.0 X 248463 0 49752 STEVE A HERENDEEN VP ENROLLMENT MANAGEMENT 40.0 0.0 X 203998 0 58418 DANIEL GRIGG VP INSTITUTIONAL ADVANCEMENT 40.0 0.0 X 204046 0 40906 KATHLENE WATLAND VPAA 40.0 0.0 X 188322 0 38803 YING SHANG DEAN OF ENGINEERING AND CS 40.0 0.0 X 160276 0 41241 LORI A FINCANNON DEAN COLLEGE OF BUSINESS 40.0 0.0 X 151201 0 34452 DANIEL J STOKER VP OF STUDENT AFFAIRS 40.0 0.0 X 157823 0 27007 ANNE GULL DEAN ARTS & SCIENCE 40.0 0.0 X 135289 0 37534 JEFFREY S LEICHTY VP & CHIEF INFORMATION OFFICER 40.0 0.0 X 133665 0 37781 MICHELLE R MUSOLF CONTROLLER 40.0 0.0 X 136750 0 31571 JACK PHLIPOT TRUSTEE 40.0 0.0 X 114623 0 28283 DENA M JACQUAY TRUSTEE 1.0 0.0 X 0 0 0 MICHAEL H WOOD TRUSTEE 1.0 0.0 X 0 0 0 CLIFFORD CLARK TRUSTEE 1.0 0.0 X 0 0 0 ANTHONY J JULIANO TRUSTEE 1.0 0.0 X 0 0 0 ARNOLD O PIERSON TRUSTEE 1.0 0.0 X 0 0 0 CHERI A BECKER SECRETARY 1.0 0.0 X X 0 0 0 D GEOFFREY PADDOCK TRUSTEE 1.0 0.0 X 0 0 0 DAVID J NASH TRUSTEE 1.0 0.0 X 0 0 0 GREGG C SENGSTACK TRUSTEE 1.0 0.0 X 0 0 0 JARROD R STOLLER TRUSTEE 1.0 0.0 X 0 0 0 JEFFREY A BENZING TRUSTEE 1.0 0.0 X 0 0 0 JOHN KUNZE TRUSTEE 1.0 0.0 X 0 0 0 RAVI R TALWAR TRUSTEE 1.0 0.0 X 0 0 0 RICHARD J SCHUL TRUSTEE 1.0 0.0 X 0 0 0 THOMAS L BURNS TRUSTEE 1.0 0.0 X 0 0 0 WHITNEY BANDEMER TRUSTEE 1.0 0.0 X 0 0 0 WILLIAM DAUGHERTY TRUSTEE 1.0 0.0 X 0 0 0 2347392 0 562817 43 false true false ASHER AGENCY 535 W WAYNE STREET FORT WAYNE IN 46802 ADVERTISING 2449324 EAB GLOBAL 2445 M STREET NW WASHINGTON DC 20037 ADVERTISING 958150 CMA PLUS LLC 202 WEST BERRY STREET FORT WAYNE IN 46802 CONSTRUCTION MGMT 603323 MY FOOTPATH 820 W JACKSON CHICAGO IL 60607 STUDENT RECRUITING 404158 PARKVIEW OCCUPATIONAL HEALTH CENTER 3978 NEW VISION DR FORT WAYNE IN 46845 COUNSELING SERVICES 242840 14 4500 8287 4599615 1470494 565372 6082896 TUITION & FEES 611710 68020448 68020448 RESIDENCE HALLS 611710 7832811 7832811 MISCELLANEOUS 611710 501547 243046 258501 76354806 7515849 30183 7485666 0 0 13421 13421 0 0 0 0 42405423 45226106 -2820683 -2820683 -2820683 5964 4500 9496 -3532 -3532 0 0 0 96060 53170 42890 42890 VENDING COMMISSION 611710 7546 7546 WELLNESS CENTER 611710 2452 2452 9998 87182224 76096305 288684 4714339 0 28672583 28672583 0 0 1630212 114623 1311543 204046 0 23531443 18649855 4398352 483236 1920917 1522424 359046 39447 2204097 1746858 411976 45263 1783281 1413340 333320 36621 0 78010 78010 104169 104169 0 140250 140250 780043 780043 6903646 4559336 2288720 55590 3724726 262680 3428020 34026 315895 308510 5974 1411 2020630 134484 1886146 0 3952437 3738807 208973 4657 454113 250776 100080 103257 0 357410 237045 118251 2114 834651 793740 40911 0 6169570 5914636 254934 502021 502021 BAD DEBTS 1190328 1190328 SUPPLIES 1912531 1912531 STUDENT SUPPORT 1194819 1186790 8029 ATHLETIC PROGRAMS 2997125 2997125 1351472 854584 423852 73036 94726379 76461055 17042370 1222954 5350 5350 16553135 10338792 5736282 5734783 1632916 1613895 0 0 0 0 0 0 655641 581776 1897037 2213113 208246552 72379551 127308265 135867001 163633578 157167490 0 0 0 0 0 0 3315162 7295310 320737366 320817510 5106368 4691371 0 0 2507078 2256922 37339985 38688920 0 0 0 0 0 0 0 0 7032 3149549 44960463 48786762 X 239455463 237031970 36321440 34998778 275776903 272030748 320737366 320817510 X -7544155 3780664 17336 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 685195 X false 164687448 1248572 8427433 950445 11862733 780043 160770232 170407145 293529 -4161210 856763 229427 765826 164687448 137645960 223341 33618496 749330 116475 214847 170407145 137039068 943283 721566 766299 102531 189127 137645960 131111439 910934 6769346 800612 334686 617353 137039068 0.86000 0.10000 0.04000 false false 13090605 13090605 140675871 42149294 98526577 38155400 30230257 7925143 16324676 16324676 135867001 0 DEPOSIT FUNDS HELD FOR OTHERS 83367 OPERATING LEASE LIABILITIES 3066182 3149549 61603685 3780664 93423 3874087 57729598 780043 28672583 29452626 87182224 65349840 76087 76087 65273753 780043 28672583 29452626 94726379 SCHEDULE D, PART III, LINE 4 THE UNIVERSITY ART GALLERY, FRANCO D'AGOSTINO ART GALLERY, HOLDS WORKS OF ART FOR THE PUBLIC EXHIBITION. DONATED PIECES ARE DISPLAYED FOR VIEWERS TO ENJOY. ON OCCASION, TRAVELING COLLECTIONS ARE AVAILABLE TO VIEW FOR A LIMITED TIME. THE ART GALLERY PROVIDES CULTURE TO HELP ROUND A STUDENT'S FULL EDUCATION AT INDIANA INSTITUTE OF TECHNOLOGY. SCHEDULE D, PART V, LINE 4 PERMANENTLY RESTRICTED NET ASSETS ARE RESTRICTED TO INVESTMENT IN PERPETUITY, THE INCOME OF WHICH IS EXPENDABLE TO SUPPORT ANY ACTIVITY OF THE INSTITUTE, SCHOLARSHIPS, FACULTY DEVELOPMENT, ENGINEERING AND SCIENCE CHAIR, SCHOOL OF BUSINESS, AND SCHOOL OF ENGINEERING ACTIVITIES. TEMPORARILY RESTRICTED NET ASSETS WERE RELEASED FROM DONOR RESTRICTIONS BY INCURRING EXPENSES SATISFYING THE RESTRICTED PURPOSES OR BY THE OCCURRENCE OF OTHER EVENTS SPECIFIED BY DONORS. BOARD-DESIGNATED OR QUASI-ENDOWMENT FUNDS ARE THOSE AVAILABLE FOR USE FOR PURPOSES DETERMINED BY BOARD ACTION. ASC 740 FOOTNOTE MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. SCHEDULE D RECONCILIATION PART XI, LINE 2D COST OF GOODS SOLD $ 53,170 SPECIAL EVENTS EXPENSE $ 9,496 RENT EXPENSE $ 13,421 CHANGE IN VALUE OF PERPETUAL TRUST $ 17,336 TOTAL $ 93,423 PART XI, LINE 4B STUDENT AID $28,678,583 TOTAL $28,678,583 PART XII, LINE 2D COST OF GOODS SOLD $ 53,170 SPECIAL EVENTS EXPENSE $ 9,496 RENT EXPENSE $ 13,421 TOTAL $ 76,087 PART XII, LINE 4B STUDENT AID $28,678,583 true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3 THE RACIALLY NONDISCRIMINATORY POLICY IS PUBLICIZED ON THE UNIVERSITY'S WEBSITE AND IN THE STUDENT HANDBOOK. SCHEDULE E, PART I, LINE 6A INDIANA INSTITUTE OF TECHNOLOGY, INC. RECEIVED FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENTAL AGENCY IN THE FORM OF GRANTS FOR STUDENTS AND INSTITUTIONAL EXPENSES ALLOWABLE UNDER THE HIGHER EDUCATION EMERGENCY RELIEF FUNDING. true SOUTH ASIA 10 PROGRAM SERVICES STUDENT RECRUITMENT 374800 10 10 374800 374800 true false false false false false X X X X X X X true JF SMITH GROUP INC CONSULTING false 31050 MCALLISTER QUINN CONSULTING false 109200 140250 AL AZ CA CT DE FL GA HI ID IL IN IA KS KY LA ME MA NE NJ NM NC ND OK RI SD TN TX UT VT VA WI WY GOLF OUTING 10464 4500 5964 492 8827 176 0 10464 4500 5964 492 8827 176 9495 -3531 true SCHOLARSHIPS FOR TUITION & FEES 5704 28672583 SCHEDULE I, PART I, LINE 2 SCHOLARSHIPS ARE GIVEN TO INDIVIDUALS BASED ON NEED AND MERIT TO AID WITH TUITION AND FEES. SCHOLARSHIPS ARE A REDUCTION OF TUITION AND FEES AND PROVIDED DIRECTLY BY THE UNIVERSITY. RECORDS ARE MAINTAINED FOR ELIGIBILITY AND THE SELECTION CRITERIA. X X true true X X X X X false true false false false false false false false JEFFREY S LEICHTY VP & CHIEF INFORMATION OFFICER 132575 0 0 0 1090 0 14166 0 23615 0 171446 0 JUDY K ROY TREASURER 247161 0 0 0 1302 0 25522 0 24230 0 298215 0 KARL W EINOLF PRESIDENT 404481 0 57743 0 50712 0 92716 0 44353 0 650005 0 DANIEL J STOKER VP OF STUDENT AFFAIRS 156045 0 1000 0 778 0 15605 0 11402 0 184830 0 KATHLENE WATLAND VPAA 186468 0 0 0 1854 0 19035 0 19768 0 227125 0 STEVE A HERENDEEN VP ENROLLMENT MANAGEMENT 203176 0 0 0 822 0 0 0 37093 0 241091 0 YING SHANG DEAN OF ENGINEERING AND CS 159655 0 0 0 621 0 16413 0 24828 0 201517 0 MICHELLE R MUSOLF CONTROLLER 135756 0 0 0 994 0 13187 0 18384 0 168321 0 LORI A FINCANNON DEAN COLLEGE OF BUSINESS 149519 0 0 0 1682 0 15223 0 19229 0 185653 0 ANNE GULL DEAN ARTS & SCIENCE 134479 0 0 0 810 0 13795 0 23739 0 172823 0 DANIEL GRIGG VP INSTITUTIONAL ADVANCEMENT 194974 0 9072 20061 20845 244952 SCHEDULE J, PART I, LINE 1A A HOUSING ALLOWANCE IS PROVIDED FOR THE PRESIDENT AND REPORTED ON HIS W-2. THE PRESIDENT ALSO RECEIVES GROSSED UP PAYMENTS ON HIS W-2. SCHEDULE J, PART I, LINE 4C DR. EINOLF HAS A DEFERRED COMPENSATION PLAN AS DESCRIBED IN SECTION 457(F). during 2022, amounts deferred under the plan were $62,216. There were no amounts paid out during 2022. A INDIANA FINANCE AUTHORITY 2020 351602316 2020-12-30 21725000 CAPITAL PROJECTS AND REFINANCE 201 false false false B INDIANA FINANCE AUTHORITY 351602316 2018-01-02 29045000 CAPITAL PROJECTS & PARTIAL REFINAN false false false C INDIANA FINANCE AUTHORITY 2023 351602316 2023-04-01 14000000 CAPITAL PROJECTS false false false A 10505000 0 21725000 0 0 0 175000 0 0 1200000 0 0 2022 true false false true B 3185000 0 29045000 0 0 1659984 285106 0 0 27100000 0 0 2021 true false true true C 0 0 14000000 0 0 0 150000 0 0 13850000 0 0 2024 false false false true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true A true false false 0 false 0 false true B true false true 0 false 0 false true C true false false 0 false 0 false true A true B true C true X 4 565372 FAIR MARKET VALUE false true false SCHEDULE M, PART I THE AMOUNTS LISTED IN PART I, COLUMN B ARE BASED ON THE NUMBER OF CONTRIBUTIONS FOR EACH TYPE OF PROPERTY CONTRIBUTED. FORM 990, PART VI, SECTION B, LINE 1B KARL W. EINOLF AND JACK PHILPOT ARE PAID EMPLOYEES OF INDIANA INSTITUTE OF TECHNOLOGY AND ARE THEREFORE CONSIDERED NON-INDEPENDENT VOTING MEMBERS OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B AN INDEPENDENT CPA FIRM COMPILES INFORMATION FOR THE FORM 990 AND RELATED SCHEDULES USING INFORMATION PROVIDED BY THE ORGANIZATION. THE FORM AND RELATED SCHEDULES ARE REVIEWED BY MANAGEMENT AND PROVIDED TO ALL BOARD MEMBERS FOR THEIR REVIEW PRIOR TO FILING. AFTER BOARD APPROVAL, FORM 990 AND SCHEDULES ARE FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C AN ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE IS SENT TO ALL INTERESTED PERSONS. IF A MATTER ARISES AT A MEETING OF THE BOARD OR ONE OF ITS COMMITTEES, EVERY TRUSTEE SHALL DISCLOSE ANY POSSIBLE CONFLICT OF INTEREST AT THE ONSET OF THE DISCUSSION. FURTHER, THE TRUSTEE SHALL EXCUSE HIMSELF OR HERSELF FROM DISCUSSIONS OF, AND ABSTAIN FROM VOTING ON, ALL SUCH MATTERS UNDER CONSIDERATION BY THE BOARD OF TRUSTEES OR ANY OF ITS COMMITTEES. THE MINUTES OF SUCH MEETINGS SHALL REFLECT THAT DISCLOSURE WAS MADE AND THAT THE TRUSTEE WITH A CONFLICT OR POSSIBLE CONFLICT WAS ABSENT FROM DISCUSSIONS AND VOTING. FORM 990, PART VI, SECTION B, LINE 15A & 15B AN ANNUAL COMPENSATION REVIEW IS PERFORMED FOR THE PRESIDENT AND KEY EMPLOYEES. FOR THE PRESIDENT, THE REVIEW INCLUDES A COMPARABILITY STUDY OF SIMILAR NOT-FOR-PROFIT COLLEGES AND THEIR ASSOCIATED COMPENSATION RANGES, AS WELL AS A REVIEW OF GOALS SET FORTH AND ACHIEVED. THE BOARD OF DIRECTORS OVERSEES THIS REVIEW. THE PRESIDENT PERFORMS THE REVIEWS FOR KEY EMPLOYEES. THIS INCLUDES A REVIEW OF GOALS SET FORTH AND ACHIEVED. THIS PROCESS IS PERFORMED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE FORM 990, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE ALL AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9 CHANGE IN VALUE OF PERPETUAL TRUST $ 17,336 INDEPENDENT COLLEGES OF INDIANA 30 SOUTH MERIDIAN INDIANAPOLIS IN 46204 310901001 EDUCATION IN 501(C)(3) 12A NA false false false true false false false false false false false false false false false false false false false false