2020-05-15T09:24:26-05:00 2019-06-30 450250958 Eide Bailly LLP 24 2nd Ave SW Aberdeen SD 574014115 990 2018-07-01 460280847 Presentation College PRES 6052298453 1500 North Main Aberdeen SD 57401 Daisy Halvorson Vice President of Finance and Admin 6052298453 2020-05-14 1 Melissa White CPA P00851284 6052258783 2020-05-14 66.35.105.88 2020-05-14 16:39:22 CD P BC5D69018DD0989728A66455993545F79241C4E7 91F4B30CC44B8E76D2A0CDE56536A9707D849543 2018 2020-11-19 02:30:22Z Daisy Halvorson 1500 North Main Aberdeen SD 57401 19276507 0 0928 X www.presentation.edu X 1951 SD Challenge learners toward academic excellence and the development of the whole person. 18 18 330 18 0 0 1833533 2220248 16947479 15932636 1504447 633590 -23384 1587 20262075 18788061 4314876 4382323 0 0 9902701 8610071 0 0 499751 6591662 6815958 20809239 19808352 -547164 -1020291 36492308 34960488 15288723 14396060 21203585 20564428 Welcoming people of all faiths, Presentation College challenges learners toward academic excellence and, in the Catholic tradition, the development of the whole person. 0 0 10942201 13824070 Provided educational services at locations in Aberdeen, SD, Fairmont, MN, and online to 434 full-time and 234 part-time students in fall 2018 and 387 full-time and 246 part-time students in spring 2019 as well as provided education to approximately 261 students through summer sessions in 2018. 1381953 2146229 Auxiliary enterprises - campus housing, food service, campus store, Dome, and Strode facility 4382323 4382323 Funded and unfunded scholarships and grants 16706477 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 0 0 0 1 17 0 1 330 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 18 18 0 0 0 0 1 1 1 1 0 0 1 1 0 1 1 1 0 1 1 1 0 MN X Victor Ko 6052298452 1500 N Main St Aberdeen SD 57401 David Giovannini Board Chair 3.00 X X 0 0 0 Steve Kohles Board Vice Chair 3.00 X X 0 0 0 Mary Worlie Board Secretary 3.00 X X 0 0 0 Deacon Peter Mehlhaff Member 3.00 X 0 0 0 Hal Clemenson Member 2.00 X 0 0 0 Sr Janice Klein Member 2.00 X 0 0 0 Michael Duch Member 2.00 X 0 0 0 Geoff Durst Member 3.00 X 0 0 0 Sr Vicky Larson Member 2.00 X 0 0 0 Justin Feickert Member 2.00 X 0 0 0 Stacy Levsen Member 2.00 X 0 0 0 Sr Phyllis Gill Member 2.00 X 0 0 0 Brad Moore Member 3.00 X 0 0 0 Terry Helms Member 2.00 X 0 0 0 Marie Morris Member 2.00 X 0 0 0 Greg Von Wald Member 2.00 X 0 0 0 Sr Patricia Prunty Member 2.00 X 0 0 0 Michael Williams Member 2.00 X 0 0 0 Sr Pam Donelan Executive Director of MissION 20.00 X 0 0 0 Dr Margaret Huber President 40.00 X 193878 0 26844 Christopher Stocklin VP for Finance 40.00 X 125000 0 14639 Marcus Garstecki VP for Enrollment 40.00 X 120000 0 13956 Bob Schuchardt VP for Student Services 40.00 X 97655 0 14740 Diane Duin VP for Academics 40.00 X 138000 0 12489 Sandra Welling Dean of Nursing 40.00 X 132600 0 38069 807133 0 120737 5 0 1 0 Aramark Chicago Lockbox 1101 Market Street Philadelphia PA 19107 Cafeteria & Bookstore Supplies 746104 Quest Construction 2301 8th Ave NE Ste 120 Aberdeen SD 57401 Construction / Pavilion 557840 The Learning House Inc 427 South Fourth Street Suite 300 Louisville KY 40202 Student Learning Mgmt Platform 375000 Dickey Rural Network PO Box 69 Ellendale SD 58436 Computer Network System 153173 Automated Maintenance Sys Inc 3615 Seger Dr Rapid City SD 57701 Janitorial Services for the Suites 129205 5 125646 47723 2046879 68499 2220248 Student Tuition/Fees 611600 13824070 13824070 Auxiliary Enterprises 611710 2036301 2036301 Miscellaneous 900099 72265 72265 15932636 424858 424858 90065 0 90065 90065 90065 522397 28000 317250 24415 205147 3585 208732 208732 20640 125646 82025 -61385 -61385 37663 64756 -27093 -27093 18788061 15905543 0 662270 4382323 4382323 927870 222689 621673 83508 159952 65000 94952 6103785 5460976 603964 38845 139139 107748 25771 5620 803864 747126 41466 15272 475461 379913 80753 14795 300 300 8033 8033 38325 38325 40166 40166 1838415 1381862 437664 18889 373570 91707 98022 183841 265049 176639 50669 37741 71112 24420 46692 802192 501399 300793 70878 62919 7959 74285 69923 3069 1293 659498 654738 4760 1201047 1175253 24812 982 321245 272531 47381 1333 Direct Student Expense 697661 697372 289 Special Events 121320 118861 2459 Dues/Memberships 104866 79032 23154 2680 Bad Debt Expense 51254 51254 76742 34046 42696 19808352 16706477 2602124 499751 168255 568150 901261 634408 799824 672844 58034 45737 191368 178140 36435965 16003532 20935108 20432433 13019615 12136602 28144 28144 322952 192262 67747 71768 36492308 34960488 914634 1156908 850496 817945 11328854 10848881 66923 89660 187533 138137 1718659 1168238 221624 176291 15288723 14396060 X 7578599 7004067 4800314 4672928 8824672 8887433 21203585 20564428 36492308 34960488 X -1020291 392480 -11346 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 12866865 62135 904089 907338 12925751 12119220 558042 731932 542329 12866865 11704024 273329 1026222 884355 12119220 11530116 2630 171278 11704024 11800990 157554 380504 514632 294300 11530116 0.00000 0.68760 0.31240 0 0 25630362 9456667 16173695 6549342 4864311 1685031 4256261 1682554 2573707 20432433 Federal Student Loan Funds 26024 Annuities Payable 130088 Due to Presentation Convent 20179 176291 X 14799200 392480 -4337590 -3945110 18744310 40166 3585 43751 18788061 15427011 61171 61171 15365840 40166 4402346 4442512 19808352 Part IV, Line 2b: The College maintains student suite deposits as well as agency accounts for various student organizations and college chartered clubs. Part V, Line 4: The endowment funds are used for institutional scholarships and grants and support of college programs. Part X, Line 2: The College is organized as a South Dakota nonprofit corporation and has been recognized by the Internal Revenue Service (IRS) as exempt from federal income taxes under Section 501(a) of the Internal Revenue Code as organizations described in Section 501(c)(3), qualify for the charitable contribution deduction under Section 170(b)(1)(A)(vi) and (viii), and has been determined not to be private foundations under Sections 509(a)(1) and (3), respectively. The College is annually required to file a Return of Organization Exempt from Income Tax (Form 990) with the IRS. In addition, the College is subject to income tax on net income that is derived from business activities that are unrelated to their exempt purposes. The College has determined it is not subject to unrelated business income tax and has not filed an Exempt Organization Business Income Tax Return (Form 990-T) with the IRS. The College believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The College would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. Part XI, Line 2d - Other Adjustments: Funded and Unfunded Scholarships and Grants -4,382,323. Loan Cancellation and Loss Provisions -20,023. Costs of Sales Expenses 64,756. Part XI, Line 4b - Other Adjustments: Gain on Asset Disposal 3,585. Part XII, Line 2d - Other Adjustments: Costs of Sales Expenses 64,756. Gain on Asset Disposal -3,585. Part XII, Line 4b - Other Adjustments: Funded and Unfunded Scholarships and Grants 4,382,323. Loan Cancellation and Loss Provisions 20,023. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Publicized in all our marketing printed material and online webpages. Schedule E, Part I, Line 6 Financial aid is received by the College from the US Department of Education and US Department of Health and Human Services based on students' eligibility for grants or loans. The College also receives an administrative cost allowance from the US Department of Education for the College's participation in the Pell, SEOG, and Workstudy programs. Black & White Ball 126281 111824 14457 1500 38531 0 18417 6750 8086 Golf with Saints 20005 13822 6183 0 1005 3859 2291 0 1586 146286 125646 20640 1500 39536 3859 20708 6750 9672 82025 -61385 1 Athletic and academic scholarships and grants 360 4382323 Part I, Line 2: The College has established programs for each type of scholarship and awards funds according to the parameters of each program and as funding is available. The scholarships and grants are awarded to students to be used for educational expenses at the College including tuition, fees, and books. The awards are allocated directly to each student's account. X X 1 0 X X 0 0 0 0 0 0 0 0 0 Dr Margaret Huber President 193878 0 0 0 0 0 0 0 26844 0 220722 0 0 0 Part I, Line 1a President's housing allowance & President's country club membership A City of Aberdeen 466000010 003252BJ1 2010-04-30 4401540 Refund the August 3, 1999 Issue 0 0 0 B Brown County South Dakota 466000011 115432AS5 2013-05-30 9979461 Construct New Student Housing and Wellness Center 0 0 0 A 1670000 4401540 376250 88031 3937259 2010 1 0 1 1 B 1645000 9979461 702521 162039 9121700 2013 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 1 0 0 0 0 0 B 0 0 0 1 0 0 0 0 0 A 0 B 0 Date Rebate Computation Performed Issuer Name: City of Aberdeen Date the Rebate Computation was Performed: 05/28/2015 Issuer Name: Brown County, South Dakota Date the Rebate Computation was Performed: 05/22/2018 Teresa Garafalo Daughter of Board Member Stacy Levsen 47476 Compensation and Benefits 0 Erin Giovannini Spouse of Board Member Dave Giovannini 47476 Compensation and benefits 0 Maureen Schuchardt Spouse of Robert Schuchardt 65000 Compensation and benefits 0 X Miscellaneous noncash contributions for fundraising events 178 68499 Cost or selling pric 0 1 0 Form 990, Part VI, Section A, line 6 Members of the College are the general officers of the Congregation of the Sisters of the Presentation of the Blessed Virgin Mary of Aberdeen, South Dakota as defined by the College's Articles of Incorporation. Form 990, Part VI, Section A, line 7a More than one-half of the board of trustees shall be members (and/or appointed representatives of members) of the Congregation of the Sisters of the Presentation of the Blessed Virgin Mary of Aberdeen, South Dakota. Form 990, Part VI, Section A, line 7b The following board of trustee decisions are subject to the Congregation of the Sisters of the Presentation of the Blessed Virgin Mary of Aberdeen, SD corporate board approval: (a) To determine the purpose and objectives of the institution(s) under the jurisdiction and control of the Members of the Corporation consistent with the purposes set forth in the Articles of Incorporation and with the activities permitted to be conducted or carried on by an organization exempt under Section 501(c)(3) of the Internal Revenue Code and Regulations as the same exist or as they may hereafter be amended, or by an organization, contributions to which are deductible, under Section 170(c)(2) of such Code and Regulations as the same exist or as they may hereafter be amended; and further consistent with the policy of the Corporation that the purposes and objectives of the institutions under the jurisdiction and control of the Members of the Corporation shall be to serve people without regard to the consideration of sex, color, race, creed, national origin, age, sexual orientation, or handicapped status; and further consistent with the Mission and philosophy of the Presentation Sisters for Presentation College. (b) To assign, refer, or delegate any authority whatsoever of the Members of the Corporation to any person or persons, provided however, that no assignment, referral, or delegation or authority by the Members of the Corporation shall preclude the Members from exercising the authority required to meet the responsibility for the conduct of the institutions under the jurisdiction and control of such Members; and provided further that the Members of the Corporation retain the right to rescind any such assignment, referral or delegation. (c) To amend the Articles of Incorporation or Bylaws of Presentation College as provided herein. (d) To select, appoint or remove the College President, upon appropriate consultation with the Board of Trustees. (e) To approve any Statement of Mission, Purpose or Philosophy of Presentation College. (f) To authorize the commencement of any legal action brought in the name of or on behalf of Presentation College. (g) To review and act upon written recommendations from the Board of Trustees regarding the establishment or deletion of a department or educational program. (h) To receive and act upon the annual budget as submitted by the Board of Trustees. (i) To provide guidelines for the safeguarding and investment of College funds and to approve plans for raising additional funds from sources outside the operating income. (j) To approve grant applications when matching funds are required. To receive and act upon recommendations from the Board of Trustees regarding any single major expenditure exceeding $25,000 or an aggregate total of $50,000 or more, not included in the budget. To approve unbudgeted contractual agreements for purchases services over $25,000. (k) To appoint and approve such consultants as from time to time the Members of the Corporation may deem necessary. (1) To provide the physical plant; to approve all structural changes in and expansion of the physical plant and construction of new buildings. (m) To receive and act upon all acquisitions, transfers, encumbrances or alienations of property in accordance with Canon Law of the Roman Catholic Church. (n) To select, appoint or remove as members of the Board of Trustees of the College, members of the Congregation of the Sisters of the Presentation of the Blessed Virgin Mary of Aberdeen, South Dakota. (o) To remove any lay Trustee of the Board by a majority vote of the Members of the Corporation. Such removal shall be effective upon written notice to the removed member of the Board of Trustees. (p) To attend the annual meeting of the Board of Trustees. (q) To receive, in an expeditious manner, the agenda, exhibits and minutes of the meetings of the Board of Trustees or the committees thereof. Form 990, Part VI, Section A, line 8b Minutes are maintained for all committees however there are no committees with authority to act on behalf of the governing board. While an Executive Committee exists, their responsibilities are advisory in nature. Form 990, Part VI, Section B, line 11b Upon receipt of the completed return, the finance department will review the return prior to signature by the President. Form 990, Part VI, Section B, line 12c The board members are required to disclose at every board meeting any conflicts. A statement is handed out prior to each board meeting and must complete with any elements that could be a potential conflict of interest. This becomes part of the permanent board proceeding record. Form 990, Part VI, Section B, line 15 President - Comparison with regional salaries of similar college presidents and based on performance. Performance review is done annually. For the College administrators, including the CFO, salaries are determined by the President based on market comparables for institutions of similar size and nature. Salaries are part of the budget, which is approved by the board of trustees. Market comparisons are performed annually. Form 990, Part VI, Section C, line 19 These documents are not available to the general public. Form 990, Part XI, line 9: Change in Split-Interest Agreements -11,346. Sisters of the Presentation of Blessed Virgin Mary 1500 N 2nd street Aberdeen SD 57401 460253283 Sisters of the PBVM is the College's sponsor organization SD 501(c)(3) Line 1 N/A 0 0 0 1 0 0 0 0 0 0 0 1 0 0 1 0 1 1 0 0