MINNEAPOLIS COLLEGE OF ART & DESIGN: Form 990, tax year 2019
View the entire original 990 at ProPublica ↗
- Organization
- MINNEAPOLIS COLLEGE OF ART & DESIGN (EIN 41-1607453)
- Tax period
- 2019-06-01 to 2020-05-31
- Filed
- 2021-04-08
- IRS object ID
- 202100989349301230
- Schema version
- 2019v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule C
- Schedule D
- Schedule E
- Schedule F
- Schedule G
- Schedule I
- Schedule J
- Schedule K
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2021-04-08T15:39:12-05:00 | ReturnTs |
| Tax Period End | 2020-05-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 390859910 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BAKER TILLY US LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 225 S 6TH ST 2300 | AddressLine1Txt |
| City | MINNEAPOLIS | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55402 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2019-06-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 411607453 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MINNEAPOLIS COLLEGE OF ART & DESIGN | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MINN | BusinessNameControlTxt |
| Phone | 6128743700 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2501 STEVENS AVE | AddressLine1Txt |
| City | MINNEAPOLIS | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55404 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SANJIT SETHI | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 6128743700 | PhoneNum |
| Signature | 2021-04-02 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | LAWRENCE H MOHR CPA | PreparerPersonNm |
| PTIN | P00447603 | PTIN |
| Phone | 6128764500 | PhoneNum |
| Preparation | 2021-04-02 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2019 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | SANJIT SETHI | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2501 STEVENS AVE | AddressLine1Txt |
| City | MINNEAPOLIS | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55404 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $62,441,018 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.MCAD.EDU | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1988 | FormationYr |
| Legal Domicile State | MN | LegalDomicileStateCd |
| Activity Or Mission | SEE SCHEDULE O. | ActivityOrMissionDesc |
| Voting Members Governing Body | 24 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 23 | VotingMembersIndependentCnt |
| Total Employee | 800 | TotalEmployeeCnt |
| Total Volunteers | 23 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $1,742,115 | PYContributionsGrantsAmt |
| CY Contributions Grants | $2,433,193 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $32,118,335 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $32,115,778 | CYProgramServiceRevenueAmt |
| PY Investment Income | $2,956,975 | PYInvestmentIncomeAmt |
| CY Investment Income | $2,859,562 | CYInvestmentIncomeAmt |
| PY Other Revenue | $80,336 | PYOtherRevenueAmt |
| CY Other Revenue | $39,107 | CYOtherRevenueAmt |
| PY Total Revenue | $36,897,761 | PYTotalRevenueAmt |
| CY Total Revenue | $37,447,640 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $13,132,232 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $13,998,214 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $13,287,013 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $14,170,444 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $487,440 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $9,266,160 | PYOtherExpensesAmt |
| CY Other Expenses | $8,538,826 | CYOtherExpensesAmt |
| PY Total Expenses | $35,685,405 | PYTotalExpensesAmt |
| CY Total Expenses | $36,707,484 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,212,356 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $740,156 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $91,825,327 | TotalAssetsBOYAmt |
| Total Assets EOY | $91,043,825 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $14,289,835 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $12,896,614 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $77,535,492 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $78,147,211 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | SEE SCHEDULE O. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $24,952,385 | ExpenseAmt |
| Grant | $13,998,214 | GrantAmt |
| Revenue | $28,869,242 | RevenueAmt |
| Desc | ACADEMIC AFFAIRS:-REFORMULATED ENTIRE SPRING SLATE OF CLASSES FOR REMOTE TEACHING IN SPRING DUE TO COVID-19.-DEVELOPED PROCESSES AND BETA-TEST FOR CREDIT FOR PRIOR LEARNING PROGRAM.-CROSS-DEPARTMENT BRAINSTORMING AND PLANNING AROUND 1ST YEAR EXPERIENCE, RETENTION, BUILDING COMMUNITY.-CONTINUING EDUCATION (CE) AVERAGE INCREASE 24% IN ADULT PROGRAM PARTICIPANTS, 20% IN YOUTH PROGRAMS.-INCREASE IN DONOR FUNDED, NEED-BASED SCHOLARSHIPS FOR SUMMER YOUTH PROGRAMS IN CE-INTRODUCTION OF UPGRADED EQUIPMENT INTO 3D AREA: 3D PRINTERS, CNC ROUTER, LASER CUTTER, LASER SCANNER.-SOLIDIFIED PARTNERSHIPS WITH MINNANIM UNDER THE FILM SOCIETY UMBRELLAS, FILM NORTH, MINNESOTA BOARD OF WATER & SOIL RESOURCES (BWSR) AND METRO BLOOMS LAWNS 2 LEGUMES PROGRAM, ALL MY RELATIONS GALLERY.-SUCCESSFUL MECHADEMIA CONFERENCE HELD IN THE FALL.-PLANNED AND INSTALLED FOUR EXHIBITIONS BETWEEN THE END OF JULY AND THE BEGINNING OF OCTOBER, ATTRACTING OVER 600 PEOPLE TO OUR COLLEGE BASED ON THE NUMBER OF ATTENDEES AT THREE RECEPTIONS.-SUCCESSFUL SEARCH FOR FULL TIME FACULTY POSITION FOR THE TEACHING ARTIST PROGRAM.-PLANNED FOR THE RETIREMENT OF 5 FULLTIME FACULTY MEMBERS.-REVISED ASSESSMENT PLAN IN ACCORDANCE WITH HLC FEEDBACK.-ADMINISTERED 13 SURVEYS - INCLUDING NSSE, ALUMNI SURVEY, AND IPEDS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $3,711,825 | ExpenseAmt |
| Revenue | $1,429,635 | RevenueAmt |
| Desc | STUDENT AFFAIRS:-RECORDS DEVELOPED AND OFFERED MORE FORMS ONLINE FOR STUDENT AND FACULTY ACCESS.-STARTED TO OFFER FEE-FREE UNOFFICIAL TRANSCRIPTS TO ASSIST STUDENTS WHO ARE NO LONGER ENROLLED.-DEVELOPED A CLEAR POLICY ABOUT INTERNSHIP REGISTRATION AND GRADING (WITH CAREER DEVELOPMENT).-THE LEARNING CENTER DEVELOPED A PLAN TO INCREASE TECHNOLOGY ACCESSIBILITY.-IMPROVED THE PEER TUTOR TRAINING AND PROGRAMMING.-SWIFTLY MOVED ALL LEARNING CENTER RESOURCES ONLINE FOR STUDENT AND FACULTY ACCESS IN RESPONSE TO THE CAMPUS CLOSING DUE TO COVID-19.-THERE WERE 693 APPOINTMENTS FOR LEARNING CENTER HELP MADE ONLINE (DOES NOT INCLUDE WALK-INS); 243 NEW STUDENTS SIGNED UP FOR ACCESS.-NEW FULL-TIME HIRES IN RECORDS AND LEARNING CENTER.-NINE SUCCESSFUL GALLERY 148 PRESENTED AND CURATED BY STUDENTS.-REGISTERED STUDENT CLUBS: 55.-OFFERED YOGA CLASSES IN-PERSON AND THEN STREAMED LIVE DUE TO COVID-19.-GRANTED OVER 240 STUDENTS EMERGENCY ASSISTANCE FUNDS, OFFERING FINANCIAL HELP FROM DONATED FUNDS TO STUDENTS IN NEED.-SUCCESSFULLY MOVED ALL ACADEMIC ADVISING AND REGISTRATION ONLINE IN RESPONSE TO COVID-19.-MOVED THE MAJORITY OF STUDENTS OUT OF HOUSING DUE TO COVID-19; ALLOWED STUDENTS WHO DID NOT HAVE A SAFE PLACE TO GO TO REMAIN; REFUNDED PRO-RATED HOUSING COSTS TO THOSE WHO LEFT CAMPUS.-SUCCESSFULLY MOVED TO ONLINE COUNSELING AND PROVIDED GROUP EVENTS FOR THOSE STUDENTS OUT-OF-STATE WHO DID NOT QUALIFY FOR MEDICAL CARE IN RESPONSE TO COVID-19.-ESTABLISHED AN INTERN PROGRAM: HIRED, TRAINED, AND INTEGRATED A COUNSELING INTERN INTO THE MCAD PROGRAM.-HIRED A NEW FULL-TIME DIRECTOR OF COUNSELING AND WELLNESS WORK ON PROGRAMING AND COUNSELING AND OVERSEE THE PART TIME COUNSELING STAFF. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $2,047,437 | ExpenseAmt |
| Revenue | $1,051,486 | RevenueAmt |
| Desc | ACADEMIC SERVICES:-SEEKING TALENT TUESDAY IS A NEW INITIATIVE CREATED AS AN OPPORTUNITY FOR STUDENTS TO MEET WITH INDUSTRY PROFESSIONALS THAT ARE SEEKING TALENT. THIS YEAR, WE HAD 14 SEEKING TALENT TUESDAY COMPANIES/ORGANIZATIONS ON CAMPUS.-CAREER DEVELOPMENT RECEIVED A GRANT FROM THE AUTISM SOCIETY OF MINNESOTA TO OFFER A TWO-PART WORKSHOP FOR MINNESOTA PRIVATE COLLEGE COUNCIL MEMBERS ON HOW TO BEST SUPPORT INDIVIDUALS ON THE SPECTRUM SEEKING CAREER SERVICES, AND THE TRANSITION FROM SCHOOL TO THE WORKFORCE FOR FOLKS AS WELL AS HOW TO PROVIDE EMPLOYMENT SUPPORT FOR INDIVIDUALS WITH ASD.-THE MCAD GALLERY, TOGETHER WITH ARTS ENTREPRENEURSHIP AND SUSTAINABLE DESIGN PROMOTED FOR THE 50TH ANNIVERSARY OF EARTH DAY. THIS WAS MOVED TO A VIRTUAL EVENT DUE TO THE COVID PANDEMIC.MCAD'S MOBILE PRINTING UNIT, A CARGO BIKE TURNED INTO A PORTABLE PRINTING STATION DONATED BY ALICE FJELSTUL, MFA '96, MADE ITS DEBUT AT THE WHITTIER EAT STREET FEST ON SEPT. 15. FOUR MCAD STUDENTS DEMONSTRATED SCREENPRINTING AND PARTICIPANTS EXPERIMENTED WITH HOW TO PRINT POSTERS.-THE MCAD LIBRARY FOCUSED ITS MATERIALS ACQUISITIONS ON MINORITY ARTISTS AND DESIGNERS, LGBTQ ISSUES, ARTISTS AND SOCIAL PRACTICE, DISABILITY ISSUES, PRODUCT DESIGN, CONSERVATION AND ART MATERIALS. | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $1,142,339 | ExpenseAmt |
| Revenue | $765,415 | RevenueAmt |
| Desc | -CONSTRUCTION/RENOVATION OF VARIOUS AREAS WITHIN THE MAIN BUILDING FOR A NEWLY FORMED PRODUCT DESIGN PROGRAM AND ENHANCED STUDENT SERVICE SPACES SUCH AS A NEW FITNESS CENTER.-CONTINUED WITH DESIGN DEVELOPMENT AND OUTREACH WITH STAKEHOLDER GROUPS FOR A RENOVATION OF THE STUDENT CENTER AND CAFETERIA. WORK IS PLANNED FOR THE SUMMER OF 2020.-WE FINALIZED THE COMPREHENSIVE MASTER PLAN MATERIALS IN THE SUMMER OF 2019.-WE OVERSAW AN ALTERNATIVE ENERGY ANALYSIS TO DEVELOP VARIOUS OPTIONS TO LOWER MCAD'S CARBON FOOTPRINT, REDUCE THE AMOUNT OF FOSSIL FUELS BEING USED, LOWER THE ANNUAL UTILITY COSTS, AND CREATE A MORE SUSTAINABLE AND RESILIENT ENERGY SYSTEM.-WE ENGAGED STAKEHOLDER GROUPS AND ARCHITECTS TO ANALYZE THE RESTROOMS TO CREATE A MORE EQUITABLE AND OPEN RESTROOM ENVIRONMENT AND BEGAN A PREDESIGN PHASE FOR THE PROJECT.-WE PURSUED VARIOUS REAL ESTATE OPPORTUNITIES TO FORM A MASTER LEASE AGREEMENT WITH LOCAL HOUSING DEVELOPERS FOR INCREASED STUDENT HOUSING NEEDS. -WE ANALYZED ON CAMPUS SPACE OPTIONS FOR OUR MASTER OF FINE ARTS PROGRAM WHICH IS CURRENTLY IN A LEASED SPACE.-WE CONDUCTED VARIOUS ADDITIONAL PROJECTS INCLUDING ELECTRICAL PANEL UPGRADES, MECHANICAL UPGRADES (WATER HEATERS, AIR CONDITIONERS) AND ADDED ELECTRICAL OUTLETS FOR EXHIBITIONS.-WE OVERSAW AN EVALUATION OF THE MAIN BUILDING EXTERIOR ENVELOPE THAT ASSESSED THE CONDITION AND DEVELOPED A MULTI-YEAR RESTORATION APPROACH.-WE FACILITATED THE COVID-19 INITIAL EMERGENCY MANAGEMENT TEAM RESPONSE IN EARLY SPRING THAT INVOLVED A RAPID TRANSITION TO OFFSITE INSTRUCTION AND CLOSING OF ALL ON SITE CLASS AND WORK ACTIVITIES. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $1,142,339 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Revenue | $765,415 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $31,853,986 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | Yes (1) | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (1) | SchoolOperatingInd |
| Foreign Office | Yes (1) | ForeignOfficeInd |
| Foreign Activities | Yes (1) | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (1) | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | 0 | EscrowAccountInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 237 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 800 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | Yes (1) | QuidProQuoContributionsInd |
| Quid Pro Quo Contri Discl | Yes (1) | QuidProQuoContriDisclInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 24 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 23 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MN | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JAYCIE JENDRO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6128743700 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2501 STEVENS AVE | AddressLine1Txt |
| City | MINNEAPOLIS | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55404 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (31 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| KAREN WIRTH | |||||||
| VP, ACADEMIC AFFAIRS/INT. PRESIDENT | 35.00 | Yes (X) | $248,636 | $0 | $21,082 | ||
| SANJIT SETHI EX-OFFICIO | |||||||
| PRESIDENT | 35.00 | Yes (X) | $225,713 | $0 | $12,339 | Yes (X) | |
| JOY E BRATHWAITE | |||||||
| VP, FINANCE/CFO | 35.00 | Yes (X) | $154,777 | $0 | $8,927 | ||
| CYNTHIA THEIS | |||||||
| VP, INSTL. ADVANCEMENT | 35.00 | $134,280 | $0 | $14,613 | Yes (X) | ||
| GERALD RONNING | |||||||
| INT. VP, ACADEMIC AFFAIRS | 35.00 | $125,757 | $0 | $22,003 | Yes (X) | ||
| MELISSA HUYBRECHT | |||||||
| VP, ENROLLMENT MANAGEMENT | 35.00 | $121,427 | $0 | $7,024 | Yes (X) | ||
| BROCK RASMUSSEN | |||||||
| AVP, FACILITIES | 35.00 | $103,655 | $0 | $5,995 | Yes (X) | ||
| RALPH WELLS | |||||||
| AVP TECHNOLOGY | 35.00 | $100,717 | $0 | $5,844 | Yes (X) | ||
| GREG C HEINEMANN | |||||||
| TRUSTEE-CHAIR | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| MITZI MAGID | |||||||
| TRUSTEE-VICE CHAIR | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| DAVID MOORE | |||||||
| TRUSTEE-VICE CHAIR | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| CHRIS BARRY | |||||||
| TRUSTEE | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| BRUCE W BEAN | |||||||
| LIFE TRUSTEE | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| LESLIE BERKSHIRE | |||||||
| TRUSTEE | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| SUSAN CALMENSON | |||||||
| TRUSTEE | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| ANNE CASHILL | |||||||
| TRUSTEE | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| MARTHA DAYTON | |||||||
| TRUSTEE | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| CY DECOSSE '52 | |||||||
| LIFE TRUSTEE | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| TARA DEV | |||||||
| TRUSTEE | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| DAVID HARTWELL | |||||||
| LIFE TRUSTEE | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| CHRISTOPHER HERMANN | |||||||
| TRUSTEE | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| GREG HOFFMAN | |||||||
| TRUSTEE | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| CLINTON H MORRISON | |||||||
| LIFE TRUSTEE | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| TODD PAULSON | |||||||
| TRUSTEE | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| MARK D PIHLSTROM | |||||||
| TRUSTEE | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| MARY BOWMAN RAE | |||||||
| TRUSTEE | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| HOWARD RUBIN | |||||||
| TRUSTEE | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| ELIZABETH SARQUIS | |||||||
| TRUSTEE | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| GARY M SURDEL | |||||||
| TRUSTEE | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| GREG VAN BELLINGER | |||||||
| TRUSTEE | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| HUNTER PALMER WRIGHT | |||||||
| TRUSTEE | 1.00 | $0 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,214,962 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $97,827 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 8 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (2 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| JE DUNN CONSTRUCTION | |||||
| 800 WASHINGTON AVE N SUITE 600 | MINNEAPOLIS | MN | 55401 | CONSTRUCTION SERVICES | $1,207,839 |
| MINNEAPOLIS INSTITUTE OF ARTS | |||||
| 2400 3RD AVE S | MINNEAPOLIS | MN | 55404 | PHYSICAL PLANT SERVICES | $350,755 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 2 | CntrctRcvdGreaterThan100KCnt |
| Fundraising | $11,035 | FundraisingAmt |
| Government Grants | $819,755 | GovernmentGrantsAmt |
| All Other Contributions | $1,602,403 | AllOtherContributionsAmt |
| Noncash Contributions | $12,909 | NoncashContributionsAmt |
| Total Contributions | $2,433,193 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| TUITION AND FEES | 611710 | $29,228,679 | $29,228,679 |
| SALE OF OTHER SERVICES | 611710 | $1,301,517 | $1,301,517 |
| HOUSING RENTAL INCOME | 611710 | $1,239,186 | $1,239,186 |
| SALES BOOKSTORE | 611710 | $346,396 | $346,396 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $32,115,778 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,424,420 | TotalRevenueColumnAmt |
| Exclusion | $2,424,420 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $27,091 | TotalRevenueColumnAmt |
| Exclusion | $27,091 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $25,067,839 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $24,659,788 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $408,051 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $408,051 | TotalRevenueColumnAmt |
| Exclusion | $408,051 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $372,697 | FundraisingGrossIncomeAmt |
| Contri Rpt Fundraising Event | $11,035 | ContriRptFundraisingEventAmt |
| Fundraising Direct Expenses | $333,590 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $39,107 | TotalRevenueColumnAmt |
| Exclusion | $39,107 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $37,447,640 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $32,115,778 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,898,669 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,998,214 | TotalAmt |
| Program Services | $13,998,214 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,257,803 | TotalAmt |
| Program Services | $528,597 | ProgramServicesAmt |
| Management And General | $729,206 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,574,324 | TotalAmt |
| Program Services | $9,193,046 | ProgramServicesAmt |
| Management And General | $1,047,472 | ManagementAndGeneralAmt |
| Fundraising | $333,806 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $470,526 | TotalAmt |
| Program Services | $380,245 | ProgramServicesAmt |
| Management And General | $74,620 | ManagementAndGeneralAmt |
| Fundraising | $15,661 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,041,308 | TotalAmt |
| Program Services | $929,052 | ProgramServicesAmt |
| Management And General | $70,971 | ManagementAndGeneralAmt |
| Fundraising | $41,285 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $826,483 | TotalAmt |
| Program Services | $678,571 | ProgramServicesAmt |
| Management And General | $124,309 | ManagementAndGeneralAmt |
| Fundraising | $23,603 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $151,046 | TotalAmt |
| Management And General | $151,046 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $63,500 | TotalAmt |
| Management And General | $63,500 | ManagementAndGeneralAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $103,348 | TotalAmt |
| Management And General | $103,348 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $57,401 | TotalAmt |
| Management And General | $57,401 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $485,540 | TotalAmt |
| Program Services | $211,022 | ProgramServicesAmt |
| Management And General | $265,792 | ManagementAndGeneralAmt |
| Fundraising | $8,726 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $198,172 | TotalAmt |
| Program Services | $167,256 | ProgramServicesAmt |
| Management And General | $30,916 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $731,007 | TotalAmt |
| Program Services | $427,122 | ProgramServicesAmt |
| Management And General | $275,579 | ManagementAndGeneralAmt |
| Fundraising | $28,306 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $531,742 | TotalAmt |
| Program Services | $424,027 | ProgramServicesAmt |
| Management And General | $107,715 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,593,114 | TotalAmt |
| Program Services | $2,252,657 | ProgramServicesAmt |
| Management And General | $333,597 | ManagementAndGeneralAmt |
| Fundraising | $6,860 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $401,254 | TotalAmt |
| Program Services | $299,579 | ProgramServicesAmt |
| Management And General | $86,001 | ManagementAndGeneralAmt |
| Fundraising | $15,674 | FundraisingAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $40,862 | TotalAmt |
| Program Services | $15,780 | ProgramServicesAmt |
| Management And General | $14,925 | ManagementAndGeneralAmt |
| Fundraising | $10,157 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $353,451 | TotalAmt |
| Management And General | $353,451 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,298,947 | TotalAmt |
| Program Services | $1,295,585 | ProgramServicesAmt |
| Fundraising | $3,362 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $275,398 | TotalAmt |
| Management And General | $275,398 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (2 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| EQUIPMENT REPAIRS & PUR | $887,102 | $692,660 | $194,442 |
| CLASSROOM MATERIALS/ART | $360,573 | $360,573 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,369 | TotalAmt |
| Management And General | $6,369 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $36,707,484 | TotalAmt |
| Program Services | $31,853,986 | ProgramServicesAmt |
| Management And General | $4,366,058 | ManagementAndGeneralAmt |
| Fundraising | $487,440 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $282,629 | BOYAmt |
| EOY | $215,976 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,057,368 | BOYAmt |
| EOY | $2,499,324 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $378,068 | BOYAmt |
| EOY | $132,446 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $314,051 | BOYAmt |
| EOY | $195,199 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $573,298 | BOYAmt |
| EOY | $369,751 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $198,564 | BOYAmt |
| EOY | $205,515 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $156,362 | BOYAmt |
| EOY | $165,071 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $42,385,036 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $19,616,622 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,433,182 | BOYAmt |
| EOY | $22,768,414 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $56,317,405 | BOYAmt |
| EOY | $56,953,831 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,622,504 | BOYAmt |
| EOY | $6,685,077 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,491,896 | BOYAmt |
| EOY | $853,221 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $91,825,327 | BOYAmt |
| EOY | $91,043,825 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,954,979 | BOYAmt |
| EOY | $2,814,353 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $706,994 | BOYAmt |
| EOY | $490,307 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $387,986 | BOYAmt |
| EOY | $382,841 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,507,640 | BOYAmt |
| EOY | $5,513,813 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,520,000 | BOYAmt |
| EOY | $3,496,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $212,236 | BOYAmt |
| EOY | $199,300 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,289,835 | BOYAmt |
| EOY | $12,896,614 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $36,152,980 | BOYAmt |
| EOY | $36,928,705 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $41,382,512 | BOYAmt |
| EOY | $41,218,506 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $77,535,492 | BOYAmt |
| EOY | $78,147,211 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $91,825,327 | BOYAmt |
| EOY | $91,043,825 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $740,156 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$191,010 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $62,573 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (1) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Volunteers | 0 | VolunteersInd |
| Paid Staff Or Management | 0 | PaidStaffOrManagementInd |
| Media Advertisements | 0 | MediaAdvertisementsInd |
| Mailings Members | 0 | MailingsMembersInd |
| Publications Or Broadcast | 0 | PublicationsOrBroadcastInd |
| Grants Other Organizations | 0 | GrantsOtherOrganizationsInd |
| Direct Contact Legislators | 0 | DirectContactLegislatorsInd |
| Rallies Demonstrations | 0 | RalliesDemonstrationsInd |
| Other Activities | Yes (1) | OtherActivitiesInd |
| Other Activities | $103,348 | OtherActivitiesAmt |
| Total Lobbying Expenditures | $103,348 | TotalLobbyingExpendituresAmt |
| Not Described Section501c3 | 0 | NotDescribedSection501c3Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART II-B, LINE 1: | FormAndLineReferenceDesc |
| Explanation | THE MINNEAPOLIS COLLEGE OF ART AND DESIGN 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. THE MINNEAPOLIS COLLEGE OF ART AND DESIGN PAID THIS FIGURE IN MEMBERSHIP DUES TO MPCC DURING THE TAXABLE YEAR. A PORTION OF THIS AMOUNT, BUT NOT ALL OF IT, SUPPORTED ATTEMPTS TO INFLUENCE LEGISLATION WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("LOBBYING").THE AMOUNT OF LOBBYING EXPENSES PAID FROM THE MINNEAPOLIS COLLEGE OF ART AND DESIGN'S DUES WAS SIGNIFICANTLY LESS THAN THAT AMOUNT. | ExplanationTxt |
Schedule D IRS990ScheduleD
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $53,550,620 | BeginningYearBalanceAmt |
| Contributions | $204,146 | ContributionsAmt |
| Investment Earnings Or Losses | $2,275,824 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,845,148 | GrantsOrScholarshipsAmt |
| Other Expenditures | $884,098 | OtherExpendituresAmt |
| End Year Balance | $53,301,344 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $55,569,670 | BeginningYearBalanceAmt |
| Contributions | $136,524 | ContributionsAmt |
| Investment Earnings Or Losses | $417,404 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,736,997 | GrantsOrScholarshipsAmt |
| Other Expenditures | $835,980 | OtherExpendituresAmt |
| End Year Balance | $53,550,621 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $52,831,665 | BeginningYearBalanceAmt |
| Contributions | $388,634 | ContributionsAmt |
| Investment Earnings Or Losses | $4,795,438 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,646,083 | GrantsOrScholarshipsAmt |
| Other Expenditures | $799,984 | OtherExpendituresAmt |
| End Year Balance | $55,569,670 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $47,917,297 | BeginningYearBalanceAmt |
| Contributions | $543,128 | ContributionsAmt |
| Investment Earnings Or Losses | $6,662,862 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,538,826 | GrantsOrScholarshipsAmt |
| Other Expenditures | $752,796 | OtherExpendituresAmt |
| End Year Balance | $52,831,665 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $51,217,622 | BeginningYearBalanceAmt |
| Contributions | $332,564 | ContributionsAmt |
| Investment Earnings Or Losses | -$1,572,974 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,364,104 | GrantsOrScholarshipsAmt |
| Other Expenditures | $695,811 | OtherExpendituresAmt |
| End Year Balance | $47,917,297 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.28120 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.71880 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.00000 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | Yes (1) | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,445,005 | OtherCostOrOtherBasisAmt |
| Book Value | $1,445,005 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $38,096,056 | OtherCostOrOtherBasisAmt |
| Depreciation | $17,715,472 | DepreciationAmt |
| Book Value | $20,380,584 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,748,429 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,901,150 | DepreciationAmt |
| Book Value | $847,279 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $95,546 | OtherCostOrOtherBasisAmt |
| Book Value | $95,546 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $22,768,414 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | BENEFICIAL INTEREST IN TRUSTS | Desc |
| Book Value | $6,685,077 | BookValueAmt |
| Method Valuation | F | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $6,685,077 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ADVANCE DEPOSITS | Desc |
| Amt | $199,300 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $199,300 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $24,025,712 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$191,010 | NetUnrealizedGainsInvstAmt |
| Donated Services And Use Fclts | $35,969 | DonatedServicesAndUseFcltsAmt |
| Other Revenue | $396,163 | OtherRevenueAmt |
| Revenue Not Reported | $241,122 | RevenueNotReportedAmt |
| Revenue Subtotal | $23,784,590 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $57,401 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | $13,605,649 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $13,663,050 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $37,447,640 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $23,413,993 | TotExpnsEtcAuditedFinclStmtAmt |
| Donated Services Use Fclts | $35,969 | DonatedServicesUseFcltsAmt |
| Other Expenses Included | $333,590 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $369,559 | ExpensesNotReportedAmt |
| Expenses Subtotal | $23,044,434 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $57,401 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $13,605,649 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $13,663,050 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $36,707,484 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART V, LINE 4: | MCAD'S ENDOWMENT CONSISTS OF APPROXIMATELY 150 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ENDOWMENT PROVIDES SCHOLARSHIPS TO STUDENTS AND GRANTS FOR DEPARTMENTAL NEEDS. |
| PART X, LINE 2: | THE INTERNAL REVENUE SERVICE (IRS) HAS DETERMINED THAT THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IT IS ALSO EXEMPT FROM STATE INCOME TAX. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. THE COLLEGE FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE COLLEGE FOR UNCERTAIN TAX POSITIONS AS OF MAY 31, 2020 AND 2019. THE COLLEGE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | DIRECT EXPENSES FROM FUNDRAISING & SPECIAL EVENTS 333,590. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUSTS 62,573. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | SCHOLARSHIP AND GRANTS 13,605,649. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | DIRECT EXPENSES FROM FUNDRAISING & SPECIAL EVENTS 333,590. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | SCHOLARSHIPS AND GRANTS 13,605,649. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (1) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (1) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (1) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (1) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (1) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (1) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (1) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | 0 | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | 0 | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | 0 | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | 0 | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | 0 | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | 0 | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | Yes (1) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE E, PART I, LINE 3 | MCAD PUBLISHES ITS NON-DISCRIMINATION POLICY AS STATED ON THE ONLINE APPLICATION. IT READS: "THE MINNEAPOLIS COLLEGE OF ART AND DESIGN DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, OR ETHNIC ORIGIN IN ITS ADMISSIONS OR EDUCATIONAL POLICIES, IN SCHOLARSHIPS, FINANCIAL AID, OR LOAN PROGRAMS, IN EMPLOYMENT, OR IN ACCORDING THE RIGHTS, PRIVILEGES AND ACTIVITIES GENERALLY MADE AVAILABLE AT THIS EDUCATIONAL INSTITUTION." |
| SCHEDULE E, PART I, LINE 6 | THE COLLEGE RECEIVES FINANCIAL ASSISTANCE FROM THE U.S. GOVERNMENT IN CONNECTION WITH VARIOUS PROGRAMS SUCH AS THE FEDERAL PERKINS LOAN PROGRAM, FEDERAL WORK STUDY PROGRAM, PELL GRANT PROGRAM AND FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT PROGRAM. THE COLLEGE ALSO RECEIVES SUPPORT FROM THE STATE OF MINNESOTA THROUGH THE COLLEGE WORK STUDY PROGRAM AND STATE STUDENT SCHOLARSHIPS AND GRANTS. |
Schedule F IRS990ScheduleF
Account Activities Outside US AccountActivitiesOutsideUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Region | EUROPE (INCLUDING ICELAND & GREENLAND) | RegionTxt |
| Offices | 0 | OfficesCnt |
| Employee | 2 | EmployeeCnt |
| Type Of Activities Conducted | PROGRAM SERVICES | TypeOfActivitiesConductedTxt |
| Specific Services Provided | STUDY ABROAD PROGRAM | SpecificServicesProvidedTxt |
| Region Total Expenditures | $6,300 | RegionTotalExpendituresAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Offices | 0 | SubtotalOfficesCnt |
| Subtotal Employees | 2 | SubtotalEmployeesCnt |
| Continuation Total Office | 0 | ContinuationTotalOfficeCnt |
| Continuation Total Employee | 0 | ContinuationTotalEmployeeCnt |
| Total Office | 0 | TotalOfficeCnt |
| Total Employee | 2 | TotalEmployeeCnt |
| Subtotal Spent | $6,300 | SubtotalSpentAmt |
| Continuation Spent | $0 | ContinuationSpentAmt |
| Total Spent | $6,300 | TotalSpentAmt |
| Transfer To Foreign Corp | 0 | TransferToForeignCorpInd |
| Interest In Foreign Trust | 0 | InterestInForeignTrustInd |
| Foreign Corp Ownership | 0 | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | 0 | PassiveForeignInvestmestCoInd |
| Foreign Partnership | 0 | ForeignPartnershipInd |
| Boycott Countries | 0 | BoycottCountriesInd |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 3: | ACCRUAL |
| PART III ACCOUNTING METHOD: |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | NOVEMBER ART SALE | Event1Nm |
| Gross Receipts Event1 | $383,732 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $11,035 | CharitableContriEvent1Amt |
| Gross Revenue Event1 | $372,697 | GrossRevenueEvent1Amt |
| Food And Beverage Event1 | $11,838 | FoodAndBeverageEvent1Amt |
| Other Direct Expenses Event1 | $321,752 | OtherDirectExpensesEvent1Amt |
| Gross Receipts Total | $383,732 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $11,035 | CharitableContributionsTotAmt |
| Gross Revenue Total Events | $372,697 | GrossRevenueTotalEventsAmt |
| Food And Beverage Total Events | $11,838 | FoodAndBeverageTotalEventsAmt |
| Oth Direct Expnss Total Events | $321,752 | OthDirectExpnssTotalEventsAmt |
| Direct Expense Summary Events | $333,590 | DirectExpenseSummaryEventsAmt |
| Net Income Summary | $39,107 | NetIncomeSummaryAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (2 entries)
| Grant TypeGrantTypeTxt | RecipientRecipientCnt | Cash GrantCashGrantAmt |
|---|---|---|
| SCHOLARSHIPS AND GRANTS PROVIDED AS FINANCIAL AID TO STUDENTS | 797 | $13,605,649 |
| EMERGENCY GRANTS TO STUDENTS | 592 | $392,565 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 2: | ALL FEDERAL AID IS AWARDED BASED ON FINANCIAL AID ELIGIBILITY REQUIREMENTS IN THE FINANCIAL AID OFFICE DURING THE AWARD PROCESS. FUNDS ARE DRAWN DOWN BY THE FINANCIAL AID DIRECTOR AND ARE RECONCILED TO THE AWARD BY THE BUSINESS OFFICE CONTROLLER. THE MONEY IS DISBURSED TO THOSE APPLICABLE STUDENTS BY THE BUSINESS OFFICE BURSAR. |
| PART III, EMERGENCY GRANTS TO STUDENTS: | EMERGENCY GRANTS TO STUDENTS REPRESENTS THE HIGHER EDUCATION RELIEF FUNDING PROVIDED BY THE CARES ACT FOR DIRECT DISTRIBUTION TO STUDENTS. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Housing Allowance Or Residence | Yes (X) | HousingAllowanceOrResidenceInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (3 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KAREN WIRTH | ||||||||||||||
| VP, ACADEMIC AFFAIRS/INT. PRESIDENT | $240,270 | $0 | $7,886 | $0 | $480 | $0 | $13,880 | $0 | $7,202 | $0 | $269,718 | $0 | $0 | $0 |
| SANJIT SETHI EX-OFFICIO | ||||||||||||||
| PRESIDENT | $160,468 | $0 | $50,000 | $0 | $15,245 | $0 | $12,087 | $0 | $252 | $0 | $238,052 | $0 | $0 | $0 |
| JOY E BRATHWAITE | ||||||||||||||
| VP, FINANCE/CFO | $152,417 | $0 | $1,100 | $0 | $1,260 | $0 | $8,479 | $0 | $448 | $0 | $163,704 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 1A | FormAndLineReferenceDesc |
| Explanation | HOUSING ALLOWANCE -SANJIT SETHI - BENEFIT WAS INCLUDED IN TAXABLE COMPENSATION TRAVEL FOR COMPANION - SANJIT SETHI - BENEFIT WAS INCLUDED IN TAXABLE COMPENSATION | ExplanationTxt |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (2 entries)
| Bond ReferenceBondReferenceCd | Bond Issuer EINBondIssuerEIN | CUSIPCUSIPNum | Bond IssuedBondIssuedDt | Issue PriceIssuePriceAmt | PurposePurposeDesc | DefeasedDefeasedInd | On Behalf Of IssuerOnBehalfOfIssuerInd | Pool FinancingPoolFinancingInd |
|---|---|---|---|---|---|---|---|---|
| MHEFA SERIES 7-N | ||||||||
| A | 410988525 | 60416HXR0 | 2012-04-26 | $3,222,823 | REFUND SERIES 5K | 0 | 0 | 0 |
| MHEFA SERIES 8-D | ||||||||
| B | 410988525 | 60416HF74 | 2015-03-26 | $7,974,697 | REFUND SERIES 6K AND 6Z | 0 | 0 | 0 |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (2 entries)
| Bond ReferenceBondReferenceCd | RetiredRetiredAmt | Total ProceedsTotalProceedsAmt | In Reserve FundInReserveFundAmt | Issuance Costs From ProceedsIssuanceCostsFromProceedsAmt | Capital ExpendituresCapitalExpendituresAmt | Other Spent ProceedsOtherSpentProceedsAmt | Substantial CompletionSubstantialCompletionYr | Refunding Tax Exempt BondsRefundingTaxExemptBondsInd | Refunding Taxable BondsRefundingTaxableBondsInd | Final Allocation MadeFinalAllocationMadeInd | Adequate Books And Rec MaintAdequateBooksAndRecMaintInd |
|---|---|---|---|---|---|---|---|---|---|---|---|
| A | $2,152,823 | $3,222,823 | $321,500 | $64,456 | $2,836,061 | $806 | 2012 | Yes (1) | 0 | Yes (1) | Yes (1) |
| B | $3,424,697 | $7,974,697 | $431,275 | $148,241 | $7,391,028 | $4,153 | 2015 | Yes (1) | 0 | Yes (1) | Yes (1) |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (2 entries)
| Bond ReferenceBondReferenceCd | Owning Bond Financed PropertyOwningBondFinancedPropertyInd | Any Lease ArrangementsAnyLeaseArrangementsInd | Mgmt Contract Bond Fincd PropMgmtContractBondFincdPropInd | Any Research AgreementsAnyResearchAgreementsInd | Private Bus Use By OthersPrivateBusUseByOthersPct | Private Bus Concerning UBIPrivateBusConcerningUBIPct | Total Private Business UseTotalPrivateBusinessUsePct | Bond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestInd | Change In Use Bond Financed PropChangeInUseBondFinancedPropInd | Procs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd |
|---|---|---|---|---|---|---|---|---|---|---|
| A | 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 0 | 0 | Yes (1) |
| B | 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 0 | 0 | Yes (1) |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (2 entries)
| Bond ReferenceBondReferenceCd | Form8038 T FiledForm8038TFiledInd | Rebate Not Due YetRebateNotDueYetInd | Exception To RebateExceptionToRebateInd | No Rebate DueNoRebateDueInd | Variable Rate IssueVariableRateIssueInd | Hedge Identified In Bks And RecHedgeIdentifiedInBksAndRecInd | Gross Proceeds Invested In GICGrossProceedsInvestedInGICInd | Gross Proceeds InvestedGrossProceedsInvestedInd | Written Proc To Monitor ReqsWrittenProcToMonitorReqsInd |
|---|---|---|---|---|---|---|---|---|---|
| A | 0 | 0 | 0 | Yes (1) | 0 | 0 | 0 | 0 | Yes (1) |
| B | 0 | 0 | 0 | Yes (1) | 0 | 0 | 0 | 0 | Yes (1) |
Procedures Corrective Action ProceduresCorrectiveActionGrp (2 entries)
| Bond ReferenceBondReferenceCd | Procedures Corrective ActionProceduresCorrectiveActionInd |
|---|---|
| A | Yes (1) |
| B | Yes (1) |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| DATE REBATE COMPUTATION PERFORMED | ISSUER NAME: MHEFA SERIES 7-N DATE THE REBATE COMPUTATION WAS PERFORMED: 05/01/2016 ISSUER NAME: MHEFA SERIES 8-D DATE THE REBATE COMPUTATION WAS PERFORMED: 05/13/2019 |
| SCHEDULE K, PART IV, ARBITRAGE, LINE 2C: | NEXT REBATE CALC DATE FOR SERIES 7-N IS 5/1/2021 NEXT REBATE CALC DATE FOR SERIES 8-D IS 5/1/2024 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART I AND PART III: | THE MINNEAPOLIS COLLEGE OF ART & DESIGN'S (MCAD) MISSION STATEMENT IS: MCAD EDUCATES INDIVIDUALS TO BE PROFESSIONAL ARTISTS AND DESIGNERS, PIONEERING THINKERS, CREATIVE LEADERS, AND ENGAGED, GLOBAL CITIZENS. THE VISION IS: MCAD TRANSFORMS THE WORLD THROUGH CREATIVITY AND PURPOSE. THE VALUES ARE: WE, THE MCAD COMMUNITY, SHAPE OUR WORK AND OUR INTERACTIONS WITH OTHERS BY HONORING THE FOLLOWING VALUES: STUDENTS FIRST, ACADEMIC AND INSTITUTIONAL EXCELLENCE, CREATIVITY AND INNOVATION, COMMUNITY INVOLVEMENT, AND ENGAGEMENT. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990, WITH INDIVIDUAL CONTRIBUTOR NAMES REDACTED, IS REVIEWED BY ITS AUDIT COMMITTEE AND IS PROVIDED TO EACH VOTING MEMBER OF ITS GOVERNING BODY BEFORE FILING THE FORM. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL BOARD MEMBERS AND OFFICERS ARE SUBJECT TO THE FOLLOWING PROCESS: INDIVIDUALS WHO DISCLOSE A CONFLICT OF INTEREST MUST LEAVE THE RELEVANT MEETING WHILE A DETERMINATION OF MATERIALITY OF THE CONFLICT IS MADE. IF A CONFLICT IS DETERMINED TO EXIST WITHIN THE SCOPE OF THE POLICY THOSE INDIVIDUALS MAY MAKE A PRESENTATION OF THE PROPOSED TRANSACTION OR ARRANGEMENT BUT THEN MUST LEAVE THE ROOM AND ABSTAIN FROM VOTING ON THE PROPOSED TRANSACTION OR ARRANGEMENT. A TRUSTEE SHALL BE CONSIDERED TO HAVE A CONFLICT OF INTEREST WITHIN THE SCOPE OF THE POLICY IF HE OR SHE (1) HAS EXISTING OR POTENTIAL FINANCIAL OR OTHER INTERESTS THAT IMPAIR OR APPEAR TO IMPAIR HIS OR HER INDEPENDENT, UNBIASED JUDGMENT IN THE DISCHARGE OF HIS OR HER RESPONSIBILITIES TO THE COLLEGE; OR (2) IS AWARE THAT A MEMBER OF HIS OR HER FAMILY HAS FINANCIAL OR OTHER INTERESTS THAT WOULD IMPAIR OR APPEAR TO IMPAIR THE TRUSTEE'S INDEPENDENT JUDGMENT IN THE DISCHARGE OF HIS OR HER RESPONSIBILITIES TO THE COLLEGE. FOR THE PURPOSES OF THIS PROVISION, A FAMILY MEMBER IS DEFINED AS A SPOUSE, DOMESTIC PARTNER, PARENT, SIBLING, CHILD, OR ANY OTHER RELATIVE RESIDING IN THE SAME HOUSEHOLD AS THE TRUSTEE. ALL TRUSTEES SHALL DISCLOSE TO THE BOARD ANY POSSIBLE CONFLICT OF INTEREST AT THE EARLIEST PRACTICAL TIME. FURTHER, THE TRUSTEE SHALL ABSENT HIMSELF OR HERSELF FROM DISCUSSIONS OF, AND ABSTAIN FROM VOTING ON, SUCH MATTERS UNDER CONSIDERATION BY THE BOARD OF TRUSTEES OR ITS COMMITTEES. THE MINUTES OF SUCH MEETING SHALL REFLECT THAT A DISCLOSURE WAS MADE AND THAT THE TRUSTEE WITH A CONFLICT OR POSSIBLE CONFLICT ABSTAINED FROM VOTING. ANY TRUSTEE WHO IS UNCERTAIN AS TO WHETHER A CONFLICT OF INTEREST MAY EXIST IN ANY MATTER MAY REQUEST THAT THE BOARD OF COMMITTEE RESOLVE THE QUESTION IN HIS OR HER ABSENCE BY MAJORITY VOTE. EACH TRUSTEE SHALL COMPLETE AND SIGN A CONFLICT OF INTEREST DISCLOSURE FORM PROVIDED ANNUALLY BY THE SECRETARY OF THE BOARD OF TRUSTEES. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE PRESIDENT'S COMPENSATION IS REVIEWED BY THE EXECUTIVE COMMITTEE ANNUALLY. THE EXECUTIVE COMMITTEE COMPARES THE COMPENSATION PROPOSED AGAINST COMPARABLE PRESIDENTS OF SIMILAR INSTITUTIONS. THE PRESIDENT'S CONTRACT WAS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES IN AN EXECUTIVE SESSION DURING THE CURRENT FISCAL YEAR. THE VP OF ADMINISTRATION DETERMINES THE COMPARABILITY DATA USED FOR THE OFFICERS. THE COMPARABILITY DATA AND COMPENSATION PROPOSED IS REVIEWED AND APPROVED BY THE PRESIDENT ANNUALLY. IN ADDITION, A SEARCH COMMITTEE IS CREATED AND/OR A CONTRACTED ORGANIZATION IS HIRED TO PERFORM THE SEARCH, PROVIDING COMPARABILITY DATA ON COMPENSATION AND A FORMAL REVIEW AND RECOMMENDATION. |
| FORM 990, PART VI, SECTION C, LINE 19 | DOCUMENTS ARE AVAILABLE UPON REQUEST FROM THE FINANCE OFFICE. |
| FORM 990, PART XI, LINE 9: | CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUSTS 62,573. |