2022-05-12T11:41:14-05:00 2021-06-30 BKD LLP 201 N Illinois Street Indianapolis IN 46204 990 2020-07-01 410969244 College of Saint Benedict % SUSAN PALMER COLL 3203635999 37 S COLLEGE AVE SAINT JOSEPH MN 56374 SUSAN PALMER VP FINANCE AND ADMIN 3203635298 2022-05-16 true SUSAN PALMER 999009999 NICOLE B FISHBACK P01279475 3173834000 2022-05-16 2 2020 2022-09-23 18:48:47Z SUSAN PALMER 37 S COLLEGE AVE SAINT JOSEPH MN 56374 116173005 false X WWW.CSBSJU.EDU X 1913 MN TO PROVIDE FOR WOMEN THE BEST RESIDENTIAL LIBERAL ARTS EDUCATION IN THE CATHOLIC BENEDICTINE TRADITIONS. SEE SCHEDULE O. 28 27 2001 1326 2423 7886 10465715 10807823 94847238 92599728 4255674 11586911 472435 383404 110041062 115377866 44815297 44079258 0 0 36983509 35580689 129532 0 2464766 26677194 24885207 108605532 104545154 1435530 10832712 251991111 271867157 59716479 55364344 192274632 216502813 X THE MISSION OF THE COLLEGE OF SAINT BENEDICT IS TO PROVIDE FOR WOMEN THE BEST RESIDENTIAL LIBERAL ARTS EDUCATION IN THE CATHOLIC BENEDICTINE TRADITIONS. THE COLLEGE FOSTERS INTEGRATED LEARNING, EXCEPTIONAL LEADERSHIP FOR CHANGE AND WISDOM FOR A LIFETIME. false false 81930253 44079258 77532380 HIGHER EDUCATION: EDUCATIONAL INSTRUCTION, 1,657 FALL FTE STUDENTS ENROLLED IN UNDERGRADUATE COURSES, 456 GRADUATES. THE COLLEGE OF SAINT BENEDICT WILL BE NATIONALLY RECOGNIZED AS A COMMUNITY THAT PROVIDES A LIBERAL ARTS EDUCATION PREPARING WOMEN TO THINK CRITICALLY, LEAD COURAGEOUSLY, AND ADVOCATE PASSIONATELY. THE COLLEGE OF SAINT BENEDICT DESIGNS PROGRAMS TO MEET THE NEEDS AND ASPIRATIONS OF YOUNG WOMEN, EMPHASIZING WOMEN'S LEADERSHIP AND A PERSONAL DEVELOPMENT PROFILE THAT INCLUDES INTELLECTUAL, SPIRITUAL, EMOTIONAL AND PHYSICAL DEVELOPMENT. ITS VALUES-BASED AND VALUE-ADDED RESIDENTIAL LIBERAL ARTS EDUCATION PROVIDES THE FRAMEWORK FOR FULFILLING LIVES OF DISCIPLINED INQUIRY AND LEADERSHIP IN CAREERS DEVOTED TO THE PROFESSIONS, PUBLIC LIFE AND SERVICE TO OTHERS. ACADEMIC ACTIVITY OUTSIDE OF THE CLASSROOM WAS LIMITED DUE TO COVID-19. COLLEGE OF SAINT BENEDICT DID NOT CONDUCT ANY STUDY ABROAD PROGRAMS AND ANY OTHER TRAVEL OR VISITOR RELATED ACTIVITY WAS EITHER LIMITED OR CANCELLED. 10540677 14956584 Higher education: auxiliary revenue (dining, housing, etc) 1,657 students. the residential life program at the college of saint benedict provides a four year residential experience of community living which supports and challenges our students with opportunities for personal and social growth. this experience allows women to develop an understanding and appreciation of their responsibilities to themselves and others living in the community on campus and beyond. 494168 Other program services: fine arts programming and other student and community services designed to foster development and growth outside the classroom. our fine arts events bring the finest regional and national artists to our community. other programs including service trips, conferences, and campus events. 92470930 true true false true false false false false true true true true false false true true true false true true true false false false false false false true true true true false false false false false false false false false false true false false false false true false false false true 92 0 2001 true true true true JA SF UK false false false true true false false false false false false X 28 27 false false false false true true true true true false false false true true true true true true true false FL HI IL KY MD MA MI MN NH NY OR PA SC VA X SUSAN PALMER 3203635298 37 S COLLEGE AVE SAINT JOSEPH MN 56374 X MARY HINTON FORMER PRESIDENT 0.0 0.0 X 696803 0 49777 SUSAN PALMER VP FINANCE AND ADMINISTRATION 50.0 0.0 X 259235 0 23615 NATHAN DEHNE VP ENROLLMENT 50.0 0.0 X 180583 0 76387 KATHLEEN HANSEN VP INSTITUTIONAL ADVANCEMENT 50.0 0.0 X 202943 0 40411 RYAN GIDEON EXECUTIVE DIR. OF FACILITIES 50.0 0.0 X 133051 0 78517 MARY GELLER VP STUDENT ACTIVITIES 50.0 0.0 X 148598 0 61188 LAURIE HAMEN INTERIM PRESIDENT 60.0 0.0 X X 162893 0 26404 CASEY GORDON DIRECTOR OF IT SERVICES 50.0 0.0 X 139824 0 43848 ANNE OBERMAN CONTROLLER 50.0 0.0 X 125106 0 38490 HEATHER PIEPER-OLSON ASSOC VP INSTITUTIONAL ADVANCE 50.0 0.0 X 127598 0 32614 CORIE BARRY TRUSTEE 8.0 0.0 X 0 0 0 PATRICIA BARTHOLOMEW TRUSTEE 8.0 0.0 X 0 0 0 CATHERINE BOYLAN TRUSTEE 8.0 0.0 X 0 0 0 BARBARA JUDITH SCHMID BRANDES BOARD CHAIR 10.0 0.0 X X 0 0 0 TERRY DOLAN TRUSTEE 8.0 0.0 X 0 0 0 MICHAELA HEDICAN OSB TRUSTEE 5.0 40.0 X 0 0 0 KATHY KURVERS HENDERSON TRUSTEE 8.0 0.0 X 0 0 0 KRISTEN HODGE-CLARK TRUSTEE 5.0 0.0 X 0 0 0 MARY CATHERINE HOLICKY OSB TRUSTEE 5.0 40.0 X 0 0 0 JEAN JUENEMANN OSB TRUSTEE 5.0 40.0 X 0 0 0 TERRI RAE GIYAN KALLSEN TRUSTEE 8.0 0.0 X 0 0 0 MARY KRAMER TRUSTEE 5.0 0.0 X 0 0 0 ANNE SCHMIDT KRUMP TRUSTEE 5.0 0.0 X 0 0 0 NADA MOURTADA SABBAH TRUSTEE 5.0 0.0 X 0 0 0 LYNN MYHRAN TRUSTEE 5.0 0.0 X 0 0 0 MARILYN PORTER TRUSTEE 5.0 0.0 X 0 0 0 MARY REUTER OSB TRUSTEE 5.0 40.0 X 0 0 0 DAVID ROBERTS TRUSTEE 5.0 0.0 X 0 0 0 PATRICIA RUETHER OSB TRUSTEE 5.0 40.0 X 0 0 0 CAROL SCHLEIF TRUSTEE 8.0 0.0 X 0 0 0 DANIEL SCOTT BOARD VICE CHAIR 10.0 0.0 X X 0 0 0 LEANNE MATTHEWS STEWART TRUSTEE 8.0 0.0 X 0 0 0 MARY THOMPSON TRUSTEE 5.0 0.0 X 0 0 0 JONA VAN DEUN BOARD SECRETARY 10.0 0.0 X X 0 0 0 MARGIE WIEHOFF TRUSTEE 5.0 0.0 X 0 0 0 MARIA BURNHAM PRESIDENT, ALUMNAE BOARD 5.0 0.0 X 0 0 0 SUSAN RUDOLPH OSB PRIORESS 5.0 40.0 X 0 0 0 2176634 0 471251 25 true true false MCDERMOTT WILL EMERY LLP PO BOX 1675 CAROL STREAM IL 601321675 LEGAL SERVICE 747753 EPA AUDIO VISUAL 7910 STATE HIGWAY 55 ROCKFORD MN 55373 AUDIO VISUAL TECH 313612 MINITEX 309 19TH AVE SO MINNEAPOLIS MN 554550439 LIBRARY SERVICES 300671 ELLUCIAN COMPANY LP 62578 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 INFORMATION TECH 281956 MEKETA FIDUCIARY MGMT 100 LOWDER BROOK DR WESTWOOD MA 02090 INVESTMENT SERVICES 276270 24 4016777 6791046 294400 10807823 TUITION AND FEES 611310 78327519 78327519 AUXILIARY REVENUE 721310 13778041 13756398 21643 OTHER SOURCES - FINE ARTS 711190 494168 483918 10250 92599728 1355948 -29470 1385418 0 0 0 0 0 0 10105263 125700 0 10105263 125700 10230963 10230963 0 0 0 0 0 0 1178543 795139 383404 383404 0 115377866 92951239 2423 11616381 8000 8000 44071258 44071258 0 0 1392612 431032 686953 274627 0 24703194 20779027 2700071 1224096 1871255 1520912 242874 107469 5791503 4612271 960800 218432 1822125 1466886 239700 115539 664048 124945 539103 448223 130025 274672 43526 75600 75600 98561 98561 0 320576 320576 0 365512 16866 310419 38227 1158841 789864 83601 285376 1018705 820883 102627 95195 0 4660298 3964566 695732 154059 131270 14634 8155 0 353728 61572 281154 11002 1598550 1268520 330030 0 7126359 6152711 973648 599022 255219 327475 16328 UBI TAX 11188 11188 STUDENT PROGRAMMING 3430182 3398993 31189 MERCHANDISE SOLD 3065 3065 EQUIP REPAIR AND MAINTENANCE 890450 888640 1810 1908240 1577470 307041 23729 104545154 92470930 9609458 2464766 0 0 24733408 27799292 7817281 5874833 387446 359872 0 0 0 0 3328688 2393649 344647 291748 879326 824677 194625532 81563636 117368311 113061896 44661168 31875973 50746261 89007255 0 0 0 0 1724575 377962 251991111 271867157 5560679 4972531 0 0 3118320 1361433 43352867 41649481 397233 478140 0 0 124126 66074 0 0 7163254 6836685 59716479 55364344 X 101523229 104968127 90751403 111534686 192274632 216502813 251991111 271867157 X 10832712 12986544 408925 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 98561 98561 false Schedule C, Part II-B, Line 1 COLLEGE OF SAINT BENEDICT IS A MEMBER OF MINNESOTA PRIVATE COLLEGE COUNCIL (MPCC), AN ORGANIZATION DESCRIBED IN SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE. MPCC IS AN ASSOCIATION OF PRIVATE NONPROFIT INSTITUTIONS OF HIGHER EDUCATION THAT SERVES A VARIETY OF ITS MEMBERS' SHARED NEEDS, INCLUDING, BUT NOT ONLY, NONPARTISAN AND NON-ELECTORAL ADVOCACY FOR PUBLIC POLICY THAT MEETS STUDENTS' NEEDS AND ADVANCES THE INTERESTS OF PRIVATE HIGHER EDUCATION. COLLEGE OF SAINT BENEDICT PAID MEMBERSHIP DUES TO MPCC IN THE AMOUNT OF $123,557 DURING THE TAXABLE YEAR. MPCC HAS DIVIDED ITS EXPENSES FOR ITS TAXABLE YEAR ENDING JUNE 30, 2021 INTO TWO GROUPS GROUPS. GROUP 1 CONSISTS OF THOSE EXPENSES THAT DID NOT IN ANY WAY SUPPORT ATTEMPTS TO INFLUENCE LEGISLATION WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("LOBBYING"), AND GROUP 2 CONSISTS OF ALL OTHER EXPENSES. GROUP 2 INCLUDES MANY EXPENSES BETWEEN LOBBYING AND NONLOBBYING ACTIVITIES. MPCC HAS DETERMINED THAT THE AMOUNT OF THE GROUP 2 EXPENSES REPRESENTS 79.76 PERCENT OF THE AMOUNT OF THE DUES THAT MPCC COLLECTED IN THE SAME TAXABLE YEAR. ASSUMING THAT ALL GROUP 2 EXPENSES WERE FROM MEMBER DUES, AND ALLOCATING THOSE EXPENSES PRO RATA BASED ON THE DUES PAID BY EACH MEMBER, $98,561 OF COLLEGE OF SAINT BENEDICT'S DUES WERE USED TO PAY GROUP 2 EXPENSES. THE AMOUNT OF LOBBYING EXPENSES PAID FROM COLLEGE OF SAINT BENEDICT'S DUES WAS SIGNIFICANTLY LESS THAN THAT AMOUNT. false true X 86715330 4761625 23417921 2243381 1225559 329457 111096479 83506118 2854684 3759766 1910623 1258162 236453 86715330 78104907 3870179 4000196 1545686 678668 244810 83506118 72144454 3647951 4818196 1793948 550025 161721 78104907 60290451 6328504 7849053 2031102 292452 72144454 0.09900 0.60200 0.29900 false false 1034602 1034602 145168207 53862119 91306088 35990763 23042574 12948189 12431960 4658943 7773017 113061896 GLOBAL EQUITY FUNDS 57802781 F HEDGE FUND OF FUNDS 6532372 F PRIVATE PARTNERSHIP 6353023 F FOR OTHERS 1019133 F FIXED INCOME FUNDS 17299946 F 89007255 0 ANNUITIES PAYABLE 470285 GOV'T GRANTS REPAYABLE 3143923 STUDY ABROAD DEPOSITS 842185 ASSET RETIREMENT OBLIGATION 1606453 OPERATING LEASE LIABILITY 773839 6836685 X 85168640 12986544 1204064 14190608 70978032 320576 44079258 44399834 115377866 60940459 795139 795139 60145320 320576 44079258 44399834 104545154 FORM 990, SCHEDULE D, PART IV, LINE 2B THE COLLEGE'S FUNDS HELD FOR OTHERS INCLUDE PART OF A DESIGNATED GIFT AND STUDENT GROUP FUNDS. FORM 990, SCHEDULE D, PART V, LINE 4 ENDOWMENT DRAW IS USED TO FUND STUDENT SCHOLARSHIPS AND ACADEMIC PROGRAMS. FORM 990, SCHEDULE D, PART X, LINE 2 ASC 740 DISCLOSURE: 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. FORM 990, SCHEDULE D, PART XI RECONCILIATION OF REVENUE: LINE 2D: ADJUSTMENT OF ACTUARIAL LIABILITY $ 408,925 COST OF GOODS SOLD $ 795,139 TOTAL $ 1,204,064 LINE 4B: STUDENT FINANCIAL AID $44,079,258 FORM 990, SCHEDULE D, PART XII RECONCILIATION OF EXPENSES: LINE 2D: COST OF GOODS SOLD $ 795,139 LINE 4B: STUDENT FINANCIAL AID $44,079,258 true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3 COLLEGE OF SAINT BENEDICT INCLUDES RACIALLY NONDISCRIMINATORY POLICIES IN NEWSPAPER PUBLICATIONS FOR JOB SEARCHES AND PUBLICATIONS THAT GO OUT TO CURRENT, FORMER, AND POTENTIAL STUDENTS. IN ADDITION, THESE POLICIES ARE INCLUDED IN ALL PRINTED MATERIALS AS WELL AS ON THE ORGANIZATION'S WEBSITE. SCHEDULE E, PART I, LINE 6A COLLEGE OF SAINT BENEDICT RECEIVES FINANCIAL AID FOR STUDENTS FROM FEDERAL AND STATE SOURCES. Central America and the Caribbean Program Services STUDENT PROGRAMS 8426 Europe (Including Iceland and Greenland) Program Services STUDENT PROGRAMS 14213 South America Program Services STUDENT PROGRAMS 3583 Central America and the Caribbean Investments 17676797 17703019 17703019 true false true false true false Schedule F, Part IV, Line 3 THE COLLEGE HELD AN OWNERSHIP INTEREST IN A FOREIGN CORPORATION DURING THE TAX YEAR. HOWEVER, THE COLLEGE DOES NOT MEET THE FILING REQUIREMENT OF FORM 5471 AS A RESULT OF THE OWNERSHIP. THE COLLEGE ALSO HELD AN OWNERSHIP INTEREST IN A FOREIGN PARTNERSHIP DURING THE TAX YEAR. HOWEVER, THE COLLEGE DOES NOT MEET THE FILING REQUIREMENT OF FORM 8865 AS A RESULT OF THE OWNERSHIP. true Greater St Cloud Development Corporation 1010 W St Germain St Ste 250 St Cloud MN 56301 452050341 501(c)(3) 8000 Community Development 1 TUITION AND FEE SCHOLARSHIPS 1670 44071258 SCHEDULE I, PART I, LINE 2 DOCUMENTATION IS MAINTAINED WHICH SUBSTANTIATES ELIGIBILITY AND THE AMOUNT OF ASSISTANCE GIVEN TO STUDENTS. NEED BASED ELIGIBILITY FOR SCHOLARSHIPS IS DETERMINED USING VARIOUS FACTORS TO ASSESS ACADEMIC PERFORMANCE OF THE STUDENT. X true true X X X X X true false false false false false false false false MARY HINTON FORMER PRESIDENT 558063 0 0 0 138740 0 19828 0 29949 0 746580 0 LAURIE HAMEN INTERIM PRESIDENT 159772 0 0 0 3121 0 1625 0 24779 0 189297 0 SUSAN PALMER VP FINANCE AND ADMINISTRATION 258754 0 0 0 481 0 23300 0 315 0 282850 0 CASEY GORDON DIRECTOR OF IT SERVICES 139739 0 0 0 85 0 13009 0 30839 0 183672 0 HEATHER PIEPER-OLSON ASSOC VP INSTITUTIONAL ADVANCE 127409 0 0 0 189 0 12282 0 20332 0 160212 0 RYAN GIDEON EXECUTIVE DIR. OF FACILITIES 132681 0 0 0 370 0 3663 0 74854 0 211568 0 ANNE OBERMAN CONTROLLER 124635 0 0 0 471 0 11622 0 26868 0 163596 0 KATHLEEN HANSEN VP INSTITUTIONAL ADVANCEMENT 199178 0 0 0 3765 0 18206 0 22205 0 243354 0 NATHAN DEHNE VP ENROLLMENT 180262 0 0 0 321 0 5605 0 70782 0 256970 0 MARY GELLER VP STUDENT ACTIVITIES 148130 0 0 0 468 0 13871 0 47317 0 209786 0 SCHEDULE J, PART I, LINE 1A HOUSING ALLOWANCE: THE COLLEGE PROVIDES A RESIDENCE AND HOUSEHOLD SERVICES FOR THE PRESIDENT. THE RESIDENCE IS NOT INCLUDED IN THE PRESIDENT'S TAXABLE INCOME. THE RESIDENCE IS FURNISHED FOR THE CONVENIENCE OF THE COLLEGE, AND IT IS AVAILABLE FOR USE TO HOST FACULTY, STAFF, AND STUDENT FUNCTIONS. THE PRESIDENT WAS REQUIRED TO LIVE IN THE RESIDENCE AS A CONDITION OF HER EMPLOYMENT, AND HER RESIDENCE IS CONTIGUOUS TO THE COLLEGE'S CAMPUS. OCCASIONAL HOUSING IS SUPPLIED TO THE VP INSTITUTIONAL ADVANCEMENT AND THE VP ADMISSIONS AND FINANCIAL AID. THESE BENEFITS WERE INCLUDED IN TAXABLE COMPENSATION. SCHEDULE J, PART I, LINE 4A SEVERENCE PAYMENTS: MARY HINTON RECEIVED A NON-COMPETITION PAYMENT IN EXCHANGE FOR HER AGREEMENT NOT TO ENTER INTO COMPETITION WITH THE COLLEGE. THIS BENEFIT WAS INCLUDED IN TAXABLE COMPENSATION. SCHEDULE J, PART II, COLUMN D NONTAXABLE BENEFITS: COLUMN D INCLUDES TUITION REMISSION BENEFITS FOR ONE OR MORE FAMILY MEMBERS OF NATHAN DEHNE, MARY GELLER, AND RYAN GIDEON. A 7T MN HIGHER EDUCATION FACILITIES AUTHORITY 410988525 60416HZX5 2013-01-23 5235000 REFINANCE 5W BONDS, ORIGINALLY FOR false false false B 8K MN HIGHER EDUCATION FACILITIES AUTHORITY 410988525 60416HX90 2016-04-21 36875279 FINANCE RENOVATION PROJECTS AND AT false false false C 17A MN HIGHER EDUCATION FACILITIES BOARD 410988525 60416JAR1 2017-12-29 8605000 REFINANCE 6V AND ADVANCE REFUNDING false false false A 3360000 0 5235000 0 0 0 91951 0 0 0 5235000 0 2013 false false true true B 2475000 0 36875279 2356247 529940 0 304929 0 0 33684163 0 0 2019 false false false true C 870000 0 9044135 0 0 8874859 167615 0 0 0 1661 0 2018 true true true true A false false false false 0 false false false true B false false false false 0 0.01000 0.01000 false false false true C false false false false 0 false false false true A false false false true false false 0 false 0 false true B false true false false false false 0 false 0 false true C false true false false false false 0 false 0 false true A true B true C true SCHEDULE K, PART I, BOND ISSUES: (A) ISSUER NAME: 2013 MN HIGHER EDUCATION FACILITIES AUTHORITY (F) DESCRIPTION OF PURPOSE: REFINANCE 5W BONDS, ORIGINALLY FOR VAR. STUDENT HOUSING REMODELING PROJECTS (A) ISSUER NAME: 2016 MN HIGHER EDUCATION FACILITIES AUTHORITY (F) DESCRIPTION OF PURPOSE: FINANCE RENOVATION PROJECTS AND ATHLETIC FIELDS SCHEDULE K, PART IV, ARBITRAGE, LINE 2C: (A) ISSUER NAME: 2013 MN HIGHER EDUCATION FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 03/01/2017 X 9 294400 AVG HIGH AND LOW false true true SCHEDULE M, PART I, COLUMN (B) NUMBER OF CONTRIBUTORS: THE COLLEGE REPORTS THE NUMBER OF CONTRIBUTORS IN COLUMN (B). SCHEDULE M, PART I, LINE 9 SECURITIES - PUBLICLY TRADED: NONCASH CONTRIBUTIONS ON SCHEDULE M ARE REPORTED IN THE YEAR RECEIVED. PUBLICLY TRADED SECURITIES IN THE AMOUNT OF $185,346 RECEIVED WERE PLEDGE PAYMENTS THAT WERE RECORDED AS REVENUE ON PART VIII OF THE FORM 990 IN A PREVIOUS YEAR. SCHEDULE M, PART I, LINE 32B USE OF THIRD PARTIES: REAL ESTATE BROKERS, APPRAISERS, AND ATTORNEYS ARE CONSULTED WHEN GIFTS OF PROPERTY ARE RECEIVED. FORM 990, PART I, LINE 1 DESCRIPTION OF THE ORGANIZATION MISSION: THE MISSION OF THE COLLEGE OF SAINT BENEDICT IS TO PROVIDE FOR WOMEN THE BEST RESIDENTIAL LIBERAL ARTS EDUCATION IN THE CATHOLIC BENEDICTINE TRADITIONS. THE COLLEGE FOSTERS INTEGRATED LEARNING, EXCEPTIONAL LEADERSHIP FOR CHANGE AND WISDOM FOR A LIFETIME. FORM 990, PART VI, SECTION A, LINE 6 BOARD OF TRUSTEES: THE MEMBERS OF THE CORPORATION SHALL CONSIST OF THE OFFICERS OF THE SISTERS OF THE ORDER OF SAINT BENEDICT AND ARE REFERRED TO AS THE CORPORATE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS WITH THE POWER TO ELECT OR APPOINT OTHER MEMBERS: AS STATED IN THE ARTICLES OF INCORPORATION, THE CORPORATE MEMBERS RETAIN THE FOLLOWING RESERVED POWERS 1) APPOINT THOSE PERSONS WHO SERVE AS VOTING MEMBERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 7B GOVERNANCE DECISIONS RESERVED TO MEMBERS OTHER THAN THE GOVERNING BODY: AS STATED IN THE ARTICLES OF INCORPORATION, THE CORPORATE MEMBERS RETAIN THE FOLLOWING RESERVED POWERS 1) APPOINT THOSE PERSONS WHO SERVE AS VOTING MEMBERS OF THE BOARD OF TRUSTEES 2) APPROVE ANY MERGER, ACQUISITION, OR DISSOLUTION OF THE CORPORATION 3)APPROVE THE SALE OR ENCUMBRANCE OF ALL OR SUBSTANTIALLY ALL OF THE ASSETS OF THE CORPORATION 4) AMEND THE ARTICLES OF INCORPORATION OR 5) MAKE AND AMEND THE BYLAWS OF THE CORPORATION. THE CORPORATE MEMBERS ARE THE SISTERS OF THE ORDER OF SAINT BENEDICT. FORM 990, PART VI, SECTION B, LINE 11B PROCESS TO REVIEW FORM 990: THE FORM 990 IS PREPARED AND REVIEWED BY AN INDEPENDENT ACCOUNTING FIRM. THE AUDIT COMMITTEE CHAIR REVIEWED THE FULL DISCLOSURE COPY OF THE FORM 990. THE SUBCOMMITTEE OF THE BOARD OF TRUSTEES KNOWN AS THE AUDIT COMMITTEE REVIEWED THE PUBLIC DISCLOSURE COPY OF FORM 990 DURING THE SPRING MEETING PRIOR TO FILING THE FORM AND THE PUBLIC DISCLOSURE COPY OF FORM 990 WAS MADE AVAILABLE FOR REVIEW BY ALL BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C MONITORING & ENFORCMENT OF COMPLIANCE WITH CONFLICT OF INTEREST POLICY: THE CONFLICT OF INTEREST POLICY COVERS TRUSTEES, EXECUTIVE OFFICERS, AND MEMBERS OF COMMITTEES WITH BOARD DESIGNATED POWERS. EACH COVERED PERSON IS REQUIRED TO ANNUALLY SIGN A STATEMENT AFFIRMING THAT THEY HAVE RECEIVED, READ AND UNDERSTOOD, AND AGREED TO COMPLY WITH THE POLICY. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, AN INTERESTED PERSON MUST FULLY DISCLOSE THE EXISTENCE AND NATURE OF HIS ORHER FINANCIAL INTEREST AND ALL MATERIAL FACTS TO THE BOARD CHAIR. AFTER FULL DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON AND THE INTERESTED PERSON WISHES TO PROCEED WITH THE DISCLOSED MATTER, THE BOARD CHAIR WILL REFER TO THE EXECUTIVE COMMITTEE OF THE BOARD FOR ITS DETERMINATION TO WHETHER OR NOT A CONFLICT OF INTEREST EXISTS. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OR EXECUTIVE COMMITTEE MEETING, BUT AFTER SUCH PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT THAT RESULTS IN THE CONFLICT OF INTEREST. THE INTERESTED TRUSTEE IS NOT COUNTED FOR DETERMINING THE PRESENCE OF A QUORUM. THE MINUTES OF THE BOARD AND THE EXECUTIVE COMMITTEE DOCUMENT ALL PROCEEDINGS RESULTING FROM POTENTIAL OR ACTUAL CONFLICTS OF INTEREST INCLUDING THE NAMES OF THE PERSONS WITH AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, THE NATURE OF THE INTEREST, ANY ACTION TAKEN TO DETERMINE WHETHER A CONFLICT OF INTEREST WAS PRESENT, AND THE DECISION AS TO WHETHER A CONFLICT OF INTEREST EXISTED. THE MINUTES ALSO REPORT THE NAMES OF THE PERSONS WHO WERE PRESENT FOR DISCUSSIONS AND VOTES RELATING TO THE TRANSACTION, THE CONTENT OF THE DISCUSSION, INCLUDING ANY ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT, AND A RECORD OF ANY VOTES TAKEN IN CONNECTION THEREWITH. FORM 990, PART VI, SECTION B, LINES 15A & 15B PROCESS TO DETERMINE PRESIDENT AND OFFICER COMPENSATION: IN ACCORDANCE WITH THE EMPLOYEE HANDBOOK, THE COMPENSATION PLAN IS DESIGNED TO ENSURE POSITIONS ARE COMPETITIVELY VALUED RELATIVE TO COMPARABLE JOBS IN THE MARKET. THE HUMAN RESOURCES DEPARTMENT DOES A COMPARISON OF JOB DESCRIPTIONS TO POSITION DESCRIPTIONS IN THE MARKETPLACE ANNUALLY. THE COMPARISON FOR ADMINISTRATIVE AND SUPPORT STAFF POSITIONS ARE APPROVED BY THE PRESIDENT OR BOARD OF TRUSTEES AND A SALARY RANGE IS CREATED BASED ON THIS COMPARISON. FACULTY SALARIES ARE COMPARED TO A MARKET BASKET OF SIMILAR INSTITUTIONS. SALARIES FOR THE PRESIDENT, THE PROVOST, AND THE VICE PRESIDENT FOR FINANCE AND ADMINISTRATION ARE REVIEWED AND DETERMINED BY THE BOARD OF TRUSTEES. THE POSITIONS ARE COMPARED TO SIMILAR INSTITUTIONS OF HIGHER EDUCATION WITH RESPECT TO ENROLLMENT, BUDGET, AND CARNEGIE CLASSIFICATION FOUND IN THE COLLEGE AND UNIVERSITY PERSONNEL ASSOCIATION SALARY SURVEY. THE EXECUTIVE COMPENSATION COMMITTEE, A SUB COMMITTEE OF THE BOARD OF TRUSTEES, CONDUCTED THE MOST RECENT REVIEW IN JUNE OF 2021. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF GOVERNING DOCUMENTS, COI POLICY, FORM 990, AND FS: GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE TO THE PUBLIC, BUT WOULD BE MADE AVAILABLE UPON REQUEST. THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE COLLEGE'S WEBSITE. FORM 990, PART XI, LINE 9 CHANGES IN NET ASSETS: ADJUSTMENT OF ACTUARIAL LIABILITY $408,925 SISTERS OF THE ORDER OF SAINT BENEDICT 104 CHAPEL LANE ST JOSEPH MN 56374 410695523 MONASTERY MN 501(C)(3) 1 NA false Life Estate (1) Life Estate NY Trust false false false false false true false false false false true false false true true false true false false