2022-04-18T15:43:28-05:00 2021-05-31 481292483 HENJES CONNER & WILLIAMS PC PO BOX 1937 DAKOTA DUNES SD 57049 990 2020-06-01 420680400 MORNINGSIDE COLLEGE MORN 7122745000 1501 MORNINGSIDE AVENUE SIOUX CITY IA 511061717 RONALD JORGENSEN VP FOR BUSINESS & FINANCE 7122745142 2022-04-14 1 RONALD JORGENSEN 999009999 MICHAEL T TRAMP P00121903 6052423900 2022-04-14 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z JOHN REYNDERS 4405 OLD LAKEPORT RD SIOUX CITY IA 51106 99042480 0 X WWW.MORNINGSIDE.EDU X 1894 IA MORNINGSIDE COLLEGE IS A 4 YEAR PRIVATE COLLEGE, THAT PROVIDES A LIBERAL ARTS EDUCATION TO FULL AND PART-TIME STUDENTS, INCLUDING CO-CURRICULAR ACTIVITIES (RESIDENCE HALLS, DINING, BOOKSTORE). 41 38 1102 0 0 0 3472325 7627366 51223831 52160085 2209085 6805739 336069 845200 57241310 67438390 20555092 22433973 0 0 21769994 21354675 0 0 1102566 16266371 15692952 58591457 59481600 -1350147 7956790 128662837 147946360 44449533 44186450 84213304 103759910 X THE MORNINGSIDE COLLEGE EXPERIENCE CULTIVATES A PASSION FOR LIFE-LONG LEARNING AND A DEDICATION TO ETHICAL LEADERSHIP AND CIVIC RESPONSIBILITY. 0 0 44062837 22433973 43247067 PROVIDES GRADUATE AND UNDER GRADUATE CLASSES FOR STUDENTS. 2766091 3827594 PROVIDES RESIDENCE HALL (LIVING QUARTERS) FOR FULL TIME UNDER GRADUATE STUDENTS. 1861792 3526362 PROVIDE FOOD SERVICE (CAFETERIA) FOR STUDENTS. 1399972 2249819 EXPENSES CONSIST OF A FAIR VALUE HEDGE INTEREST EXPENSE DUE TO AN INTEREST RATE EXCHANGE AGREEMENT FOR SOME LONG-TERM DEBT AND OTHER EXPENSE ITEMS. 1399972 2249819 50090692 1 1 0 1 0 0 0 1 1 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 95 0 1 1102 1 0 0 0 0 0 0 0 0 0 0 0 0 X 41 38 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X PAUL TREFT 7122745000 1501 MORNINGSIDE AVE SIOUX CITY IA 51106 MICHAEL ABBOTT DIRECTOR 0.50 X 0 0 0 MICHAEL BENNETT DIRECTOR 0.50 X 0 0 0 CHAD BENSON DIRECTOR 0.50 X 0 0 0 CHRIS BENSON DIRECTOR 0.50 X 0 0 0 ZEDDIE BOWEN DIRECTOR 0.50 X 0 0 0 J ROBERT BURKHART DIRECTOR 0.50 X 0 0 0 DAN COX DIRECTOR 0.50 X 0 0 0 ARLENE CURRY DIRECTOR 0.50 X 0 0 0 CARTER DENNIS DIRECTOR 0.50 X 0 0 0 ROSA DIAZ DIRECTOR 0.50 X 0 0 0 CLEOPHUS FRANKLIN DIRECTOR 0.50 X 0 0 0 LAURIE HALLER DIRECTOR 0.50 X 0 0 0 JAMES HANKE DIRECTOR 0.50 X 0 0 0 DAN HENDERSON DIRECTOR 0.50 X 0 0 0 LINDA JENNINGS DIRECTOR 0.50 X 0 0 0 DEBORAH KIESEY DIRECTOR 0.50 X 0 0 0 ESTHER MACKINTOSH DIRECTOR 0.50 X 0 0 0 NANCY MEADOWS DIRECTOR 0.50 X 0 0 0 NANCY METZ DIRECTOR 0.50 X 0 0 0 CYNTHIA MOSER DIRECTOR 0.50 X 0 0 0 THOMAS NARAK DIRECTOR 0.50 X 0 0 0 TARAH NOLAN DIRECTOR 0.50 X 0 0 0 RUSSELL OLSON DIRECTOR 0.50 X 0 0 0 MARTIN PALMER DIRECTOR 0.50 X 0 0 0 MARK PORTER DIRECTOR 0.50 X 0 0 0 CORY ROBERTS DIRECTOR 0.50 X 0 0 0 THOMAS ROSEN DIRECTOR 0.50 X 0 0 0 JOHN STEELE DIRECTOR 0.50 X 0 0 0 CRAIG STRUVE DIRECTOR 0.50 X 0 0 0 MIA SUDO DIRECTOR 0.50 X 0 0 0 JAMES WALKER DIRECTOR 0.50 X 0 0 0 RICHARD WALLER DIRECTOR 0.50 X 0 0 0 CRAIG WANSINK DIRECTOR 0.50 X 0 0 0 CURTIS WHITE DIRECTOR 0.50 X 0 0 0 CONNINE WIMER DIRECTOR 0.50 X 0 0 0 RONALD YOCKEY DIRECTOR 0.50 X 0 0 0 BRIAN JOHNSON ALUMNI REPRESENTATIVE 0.50 X 0 0 0 KIMBERLY CHRISTOPHERSON FACULTY REPRESENTATIVE 0.50 X 0 0 0 MACKENZIE BENNETT STUDENT REPRESENTATIVE 0.50 X 0 0 0 JOHN REYNDERS PRESIDENT 40.00 X 322003 0 19021 RONALD JORGENSEN VP BUSINESS & FINANCE 40.00 X 169308 0 19221 TERI CURRY VP STUDENT LIFE/ENROLLMENT 40.00 X 162879 0 20106 CHRISTOPHER SPICER VP FOR ACADEMIC AFFAIRS 40.00 X 144398 0 17531 STEPHEN RYAN HEAD FOOTBALL COACH 40.00 X 139418 0 24717 JACKLYN BARBER DEAN OF NURSING EDUCATION 40.00 X 139239 0 3675 ERIN EDLUND VP UNIVERSITY ENGAGEMENT 40.00 X 126629 0 4660 LILLIAN LOPEZ VP ADVISING/PROFESSOR 40.00 X 111882 0 17810 1315756 0 126741 13 0 1 0 SODEXO INC 9801 WASHINGONIAN BLVD GAITHERSBURG MD 20878 FOOD SERVICE 1774765 1 4575026 3052340 188616 7627366 TUITION AND FEES 611310 43247067 43247067 RESIDENCE HALLS 611710 3827594 3827594 FOOD SERVICE 722212 3526362 3526362 MISCELLANEOUS INCOME 900099 807174 807174 BOOKSTORE SALES 451211 693271 693271 58617 58617 52160085 1593329 1593329 274761 120318 154443 154443 154443 36696182 31483772 5212410 5212410 5212410 FARM VALUE ADJUSTED TO FMV 900099 679000 679000 PRESENT VALUE ADJUSTMENT 900099 11757 11757 690757 67438390 52850842 0 6960182 22433973 22433973 636930 636930 16095528 12836184 2696001 563343 205154 153866 44108 7180 3231465 2423599 694765 113101 1185598 889198 254904 41496 469599 469599 28003 19602 7421 980 64604 64604 222492 155745 58960 7787 215260 215260 114414 80090 30320 4004 551871 358716 137968 55187 1906763 1334734 505292 66737 501933 326256 75290 100387 143984 93589 28797 21598 1201785 781160 420625 2725551 1826119 817665 81767 459051 298383 142306 18362 AUXILIARY EXPENSES 4390680 3380824 1009856 MISCELLANEOUS EXPENSES 1086142 804105 279823 2214 ATHLETICS EXPENSES 832659 641147 191512 CONTRACTED SERVICES 562046 432775 129271 0 216115 135768 61924 18423 59481600 50090692 8288342 1102566 3862 4975 425435 13212833 2348829 2075314 777519 2887946 2797664 2471009 144970 135436 230154 231337 98662972 48187269 52122991 50475703 50099029 56136699 18300741 19043048 1411643 1272060 128662837 147946360 1750136 2277813 700000 600000 35275000 33155000 616967 423541 584583 611698 5522847 7118398 44449533 44186450 X 42859136 53077352 41354168 50682558 84213304 103759910 128662837 147946360 7956790 11589816 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 749 749 0 PART II-B, LINE 1: THE COLLEGE IS A MEMBER OF THE NATIONAL ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES. 7% OF THE COLLEGE'S MEMBERSHIP DUES ARE DIRECTED TO LOBBYING ACTIVITIES PERFORMED BY THE NAICU. 0 1003685 X 0 0 616967 193426 423541 1 X 46411007 268531 12907936 1141307 1086693 100000 57259474 45502931 1471760 2585316 756308 2292692 100000 46411007 44442089 1269817 3530295 839538 2799732 100000 45502931 38999379 1860023 7001687 817768 2501232 100000 44442089 35124146 2214797 3933436 900897 1272103 100000 38999379 0.02000 0.66000 0.32000 1 0 9805541 9805541 72275357 35190087 37085270 14250574 12549334 1701240 2331500 447848 1883652 50475703 ALTERNATIVE FUNDS 10648250 F SHORT TERM INVESTMENTS 2213437 F REAL ESTATE - FARMS 5278000 F REAL ESTATE - CITY 902307 C OTHER 1054 F 19043048 272653 STATE INCOME TAX 46834 ACTUARIAL LIABILITY FOR ANNUITIES 315401 US GOVERNMENT LOAN FUNDS REFUNDABLE 904662 OTHER LIABILITIES 1536193 PPP LOAN PAYABLE 4042655 7118398 X 56371741 11589816 11589816 44781925 22656465 22656465 67438390 36825135 0 36825135 22656465 22656465 59481600 PART III, LINE 4: THE MORNINGSIDE COLLEGE ART COLLECTION IS HOUSED IN THE LEVITT ART GALLERY AND SERVES A PURPOSE SIMILAR TO LIBRARY COLLECTIONS. THE VISUAL LIBRARY PROVIDES STUDENTS WITH PRIMARY VISUAL RESOURCES THAT THEY USE IN ASSIGNMENTS FROM BOTH ART AND NON-ART COURSES. STUDENTS IN STUDIO COURSES INVESTIGATE THE VISUAL TECHNICAL AND METHODOLOGIES OF THE PIECES. STUDENTS IN ART HISTORY AND OTHER HUMANITIES COURSES STUDY THE VISUAL CONCEPT AND STYLE IN A CONTEXTUAL RELATIONSHIP WITH HUMAN HISTORY. THE ARE COLLECTION CONSISTS OF PAINTINGS, PRINTS, AND SCUPTURES. THE MOST VALUABLE PIECES ARE TWO PAINTINGS BY RUFINO TAMAYO AND ONE BY GEORGE WINTER. PART IV, LINE 2B: THE AMOUNT ON PART X, LINE 21 CONSISTS OF ENROLLMENT DEPOSITS AND STUDENT ACCOUNTS WITH CREDIT BALANCES. PART V, LINE 4: THE INTENDED USE OF THE COLLEGE'S ENDOWMENT FUNDS IS TO SUPPORT THE ONGOING OPERATIONS OF THE COLLEGE INCLUDING PROVIDING SCHOLARSHIPS TO STUDENTS. PART X, LINE 2: MANAGEMENT HAS CONCLUDED THAT ANY UNCERTAIN TAX POSITIONS WOULD BE IMMATERIAL TO THE FINANCIAL STATEMENTS TAKEN AS A WHOLE. ACCORDINGLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT INCLUDE ANY PROVISION FOR UNCERTAIN TAX POSITIONS, AND NO RELATED INTEREST OR PENALTIES HAVE BEEN RECORDED IN THE OPERATING STATEMENT OR ACCRUED IN THE BALANCE SHEET. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID INVESTMENT EXPENSES PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID INVESTMENT EXPENSES PART XI, LINE 4B AND PART XII, LINE 4B INSTITUTIONAL SCHOLARSHIPS AND GRANTS AWARDED TO STUDENTS ARE CLASSIFIED AS AN EXPENSE. INVESTMENT EXPENSES WHICH WERE NETTED WITH INVESTMENT INCOME IS RECLASSIFIED AS AN EXPENSE. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 NOTICE OF THE NONDISCRIMINATORY POLICY AS TO STUDENTS IS PUBLISHED ANNUALLY IN THE SIOUX CITY JOURNAL. FOR THIS TAX YEAR, IT WAS PUBLISHED IN APRIL 2021. THE NONDISCRIMINATORY POLICY IS ALSO PUBLISHED IN THE STUDENT CATALOG AND OTHER PUBLICATIONS. SCHEDULE E, PART I, LINE 6 THE COLLEGE PASSES THROUGH ASSISTANCE (FEDERAL & STATE) TO ELIGIBLE STUDENTS. 1 ACTIVITY GRANTS 760 3396892 ACADEMIC SCHOLARSHIPS & NON-NEED BASED GRANTS 1141 15980015 DEPARTMENT GRANTS 194 768383 ENDOWED SCHOLARSHIPS 188 1141307 HEERF STUDENT PAYMENTS - COVID PROGRAM 924 1147376 PART I, LINE 2: GRANT FUNDS ARE MONITORED THROUGH AN ELECTRONIC PACKAGING PROGRAM FOR ALL STUDENTS. THE ELECTRONIC PROGRAM DETERMINES ELIGIBILITY FOR FEDERAL, STATE, AND INSTITUTIONAL GRANT FUNDING AGAINST A SERIES OF PREESTABLISHED CRITERIA. ONCE THE PROGRAM DETERMINES EACH STUDENT'S ELIGIBILITY FOR FEDERAL, STATE, AND INSTITUTIONAL GRANT FUNDING THEN AID IS AWARDED. THE INFORMATION IS ALSO CHECKED BY A MEMBER OF THE STUDENT FINANICAL PLANNING STAFF. X X X X 0 1 X X X X X 0 0 0 0 0 0 0 1 0 JOHN REYNDERS PRESIDENT 246211 0 65000 0 10792 0 7509 0 41512 0 371024 0 0 0 RONALD JORGENSEN VP BUSINESS & FINANCE 146741 0 10000 0 12567 0 6509 0 12712 0 188529 0 0 0 TERI CURRY VP STUDENT LIFE/ENROLLMENT 141641 0 10000 0 11238 0 7926 0 12180 0 182985 0 0 0 PART I, LINE 1A THE COLLEGE DOES PROVIDE TRAVEL FOR THE PRESIDENT'S SPOUSE TO EVENTS THE PRESIDENT IS ATTENDING. TRAVEL FOR VP'S SPOUSES IS ALSO ALLOWED BY APPROVAL OF THE PRESIDENT WHEN SUCH TRAVEL IS DEEMED TO PROVIDE BENEFITS TO THE COLLEGE. A COLLEGE OWNED HOUSE IS PROVIDED TO THE PRESIDENT FOR HIS RESIDENCE. A NUMBER OF COLLEGE FUNCTIONS ARE CONDUCTED AT HIS RESIDENCE. HOUSE KEEPING SERVICES ARE ALSO PROVIDED FOR THE RESIDENCE. DUES TO A COUNTRY CLUB MEMBER ARE ALSO PAID BY THE COLLEGE AND NUMEROUS COLLEGE EVENTS ARE HELD AT THE COUNTRY CLUB. PART I, LINE 1B THE EXPLANATION FOR THIS LINE IS THE SAME AS LINE 1A, WHICH IS ABOVE. PART I, LINE 7 INCENTIVE BONUSES ARE PAID TO THE PRESIDENT AND VICE PRESIDENT'S UPON APPROVAL BY THE BOARD COMPENSATION COMMITTEE. BONUSES ARE BASED UPON GOAL ATTAINMENT AND OTHER PERFORMANCE REVIEW CRITERIA. THE PRESIDENT'S ANNUAL BONUS IS BASED UPON A PERFORMANCE CONTRACT. THE VICE PRESIDENT BONUS AMOUNTS ARE DETERMINED BY THE COLLEGE PRESIDENT AND APPROVED BY THE COMPENSATION COMMITTEE. A IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 2013-07-16 19250000 CONSTRUCTION AND EQUIPMENT 0 0 0 B IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 2014-12-23 24010000 CONSTRUCTION AND REFINANCE 0 0 0 A 3825000 19253348 104466 19148882 2014 0 0 1 1 B 6280000 24010905 190517 12810388 11010000 2015 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 1 1 0 0 0 0 0 1 B 0 1 1 0 0 0 0 0 1 A 1 B 1 X 19 188616 AVG MARKET VALUE 0 0 1 1 PART I, LINE 32B: THE COLLEGE SELLS MARKETABLE SECURITIES THAT IT RECEIVES AS CONTRIBUTIONS. A REGISTERED BROKER IS USED TO PROCESS THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 11B IT IS THE POLICY OF THE BOARD OF DIRECTORS OF MORNINGSIDE COLLEGE THAT THE BOARD AUDIT COMMITTEE SHALL REVIEW THE INTERNAL REVENUE SERVICE (IRS) FORM 990 PRIOR TO THE FILING WITH THE IRS. ONCE THE AUDIT COMMITTEE HAS REVIEWED THE FORM 990, A COPY SHALL BE MADE AVAILABLE TO ALL BOARD MEMBERS. IT IS LOCATED ON THE BOARD PORTAL WEB PAGE. BOARD MEMBERS WHO HAVE COMMENTS OR REVISIONS TO THE 990 SHALL SUBMIT THESE COMMENTS OR REVISIONS IN WRITING TO THE CHAIR OF THE AUDIT COMMITTEE NO LATER THAN 10 DAYS AFTER IT WAS MADE AVAILABLE TO THEM. THE CHAIR OF THE AUDIT COMMITTEE SHALL REVIEW THESE WITH THE VP FOR BUSINESS & FINANCE TO DETERMINE IF CHANGES ARE NECESSARY PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY BOARD MEMBERS COMPLETE A CONFLICT OF INTEREST FORM. THE FORMS ARE COMPILED BY THE PRESIDENT'S ADMINISTRATIVE ASSISTANT AND REVIEWED BY THE BOARD CHAIR. POTENTIAL CONFLICTS OF INTEREST ARE ADDRESSED BY THE BOARD CHAIR AND REVIEWED BY THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE PRESIDNET IS BASED UPON TERMS OF AN EMPLOYMENT CONTRACT. THE BOARD COMPENSATION COMMITTEE ANNUALLY REVIEWS THE PERFORMANCE AND SALARY LEVEL. THE REVIEW INCLUDES INTERVIEWS WITH FACULTY, STAFF, AND STUDENTS. THE SALARY IS COMPARED TO COLLEGES IN THE COLLEGE'S ASPIRANT GROUP AND OTHER PRIVATE COLLEGE PRESIDENTS AS REPORTED IN THE NATIONAL AND STATE SURVEYS. THE EXTERNAL AUDITOR ALSO REVIEWS THE INFORMATION WITH THE AUDIT COMMITTEE. COMPENSATION OF THE VICE PRESIDENTS (VP FOR BUSINESS & FINANCE, PROVOST, VP FOR STUDENT LIFE/ENROLLMENT, VP FOR INSTITUTIONAL ADVANCEMENT, AND VP FOR MARKETING & COMMUNICATION) IS BASED ON INDIVIDUAL PERFORMANCES AND COMPARISON OF PEER GROUP SALARY LEVELS FOR COMPARABLE POSITIONS. THE PRESIDENT PREPARES THE ANNUAL EVALUATION WITH INPUT FROM FACULTY SENATE AND PRESENTS COMPENSATION RECOMMENDATIONS TO THE BOARD COMPENSATION COMMITTEE FOR THEIR APPROVAL. THE COMPENSATION AND COMPARISON DATA IS ALSO PRESENTED TO THE COLLEGE'S EXTERNAL AUDITORS FOR THEIR REVIEW. THE EXTERNAL AUDITOR REVIEWS THE INFORMATION WITH THE BOARD AUDIT COMMITTEE. THE COMPENSATION COMMITTEE MEETS ANNUALLY IN AUGUST OR SEPTEMBER AND THE AUDIT COMMITTEE MEETS ANNUALLY IN SEPTEMBER OR OCTOBER. FOR THIS TAX YEAR, THE AUDIT COMMITTEE MET ON SEPTEMBER 16, 2020. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE MAINTAINS DOCUMENTS FOR PUBLIC INSPECTION AT THE COLLEGE'S LEARNING CENTER. THE DOCUMENTS ARE AVAILABLE UPON REQUEST.