MINNEAPOLIS COLLEGE OF ART & DESIGN: Form 990, tax year 2017
View the entire original 990 at ProPublica ↗
- Organization
- MINNEAPOLIS COLLEGE OF ART & DESIGN (EIN 41-1607453)
- Tax period
- 2017-06-01 to 2018-05-31
- Filed
- 2019-04-11
- IRS object ID
- 201911019349300111
- Schema version
- 2017v2.3
- 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 M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2019-04-11T08:31:52-05:00 | ReturnTs |
| Tax Period End | 2018-05-31 | 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 VIRCHOW KRAUSE 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 | 2017-06-01 | 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 | JOY E BRATHWAITE | PersonNm |
| Person Title | VICE PRESIDENT/CFO | PersonTitleTxt |
| Phone | 6128743700 | PhoneNum |
| Signature | 2019-04-09 | 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 |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 38.88.188.75 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2019-04-09 | IPDt |
| IP Tm | 13:56:10 | IPTm |
| IP Timezone | CD | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 42991B41A32A13F77B110C5B470B2D73D8292482 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2017 | TaxYr |
| Build TS | 2019-02-21 02:37:17Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | KAREN WIRTH | 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 | $61,210,089 | 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 | 23 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 22 | VotingMembersIndependentCnt |
| Total Employee | 862 | TotalEmployeeCnt |
| Total Volunteers | 22 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $11,117 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $2,196,887 | PYContributionsGrantsAmt |
| CY Contributions Grants | $1,925,357 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $29,703,195 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $30,099,216 | CYProgramServiceRevenueAmt |
| PY Investment Income | $2,440,359 | PYInvestmentIncomeAmt |
| CY Investment Income | $4,791,121 | CYInvestmentIncomeAmt |
| PY Other Revenue | $39,303 | PYOtherRevenueAmt |
| CY Other Revenue | $106,357 | CYOtherRevenueAmt |
| PY Total Revenue | $34,379,744 | PYTotalRevenueAmt |
| CY Total Revenue | $36,922,051 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $11,758,694 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $11,965,175 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $13,168,442 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $13,874,127 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $528,518 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $7,847,424 | PYOtherExpensesAmt |
| CY Other Expenses | $7,963,298 | CYOtherExpensesAmt |
| PY Total Expenses | $32,774,560 | PYTotalExpensesAmt |
| CY Total Expenses | $33,802,600 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,605,184 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $3,119,451 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $87,682,659 | TotalAssetsBOYAmt |
| Total Assets EOY | $93,984,466 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $12,827,462 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $15,598,360 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $74,855,197 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $78,386,106 | 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 | $22,550,353 | ExpenseAmt |
| Grant | $11,965,175 | GrantAmt |
| Revenue | $27,209,145 | RevenueAmt |
| Desc | ACADEMIC AFFAIRS:-SUCCESSFUL ACCREDITATION SITE VISIT BY NATIONAL ASSOCIATION OF SCHOOLS OF ART AND DESIGN (NASAD); REACCREDITATION APPROVED-ENGAGED AND PUBLIC ART MINOR LAUNCHED-SUCCESSFUL SEARCHES FOR NEW DIRECTOR OF MFA PROGRAM AND FULL TIME ILLUSTRATION FACULTY-PARTICIPATED IN AICAD POST-SECONDARY TEACHING FELLOWSHIP TO DIVERSIFY FACULTY POOL-FIRST MATRICULATED STUDENTS FOR NEW MA IN GRAPHIC AND WEB DESIGN ONLINE-CONTINUING EDUCATION OFFERING NEW CERTIFICATE PROGRAMS | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $3,066,023 | ExpenseAmt |
| Revenue | $1,574,905 | RevenueAmt |
| Desc | STUDENT AFFAIRS:- 35 STUDENTS GRADUATED IN DECEMBER 2017 (31 UNDERGRADUATE, 4 GRADUATE STUDENTS). THE CEREMONY HELD ON CAMPUS IN AUD 150.- THERE WERE 120 STUDENTS GRADUATED IN MAY 2018 (100 UNDERGRADUATE AND 20 GRADUATE STUDENTS). THE CEREMONY WAS HELD AT THE CHILDREN'S THEATRE.- CONTINUED TO UPDATE AND IMPLEMENT NEW STUDENT FORMS FOR RECORDS OFFICE; UPDATED AND IMPLEMENTED THE RETENTION POLICY FOR STUDENT RECORDS.- INTERNSHIP REGISTRATION WAS STREAMLINED.- STUDENTS MEETING AND REQUESTING DISABILITY ACCOMMODATIONS WERE UP: 15% OF ENROLLED STUDENTS DISCLOSED A DISABILITY.- PEER MENTOR WAS A SUCCESS, WITH MORE ACTIVITIES AND COMMUNITY BUILDING.- THERE WERE 46 STUDENT RUN CLUBS.- MANY COMMUNITY ENGAGED STUDENT EVENTS INCLUDING "MARCH FOR OUR LIVES", GUN CONTROL AND THE PARKLAND SHOOTING, AND DIVERSITY, EQUITY, AND INCLUSION WORKSHOPS.- MCAD SENT 16 STUDENTS OFF CAMPUS TO STUDY IN SPRING 2018.- THERE WERE 10 BFA AND 12 MFA INTERNATIONAL DEGREE-SEEKING STUDENTS.- RE-STARTED THE BURREN, IRELAND STUDY ABROAD PROGRAM. ALSO STARTED THE BEZELEL, JERUSALEM EXCHANGE PROGRAM.- FURNISHED ADDITIONAL APARTMENTS ON CAMPUS, MAKING LIVING ON-CAMPUS MUCH EASIER FOR STUDENTS.- CREATED A FINANCIAL AND SCHEDULE PLAN TO REPLACE FLOORING IN APARTMENTS.-THERE WAS AN INCREASE IN THE NUMBER OF STUDENTS WHO HAD INDIVIDUAL COUNSELING SESSIONS FROM 138 THE PREVIOUS YEAR TO 163 THIS YEAR.- THE COUNSELING STAFF OFFERED A GROUP COUNSELING SESSION TO MUCH SUCCESS.- A STUDENT WELLNESS INTERN WAS HIRED FOR THE YEAR. THIS STUDENT WAS A LIAISON BETWEEN STUDENT AFFAIRS AND STUDENTS REGARDING HEALTH AND WELLNESS ISSUES, AND TOPICS TO ADDRESS, AND ALSO PROMOTED A HEALTHY LIFESTYLE.- $2070 WAS GIVEN TO STUDENTS FROM THE ETERNAL OPTIMIST FUND TO ASSIST STUDENTS WHO HAD FINANCIAL EMERGENCIES.-$2200 FROM THE MCAD FOOD FUND WAS GIVEN TO STUDENTS WHO WERE FOOD INSECURE. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $2,060,293 | ExpenseAmt |
| Revenue | $759,751 | RevenueAmt |
| Desc | ACADEMIC SERVICES:-SUCCESSFUL SEARCH FOR FULL TIME CAREER DEVELOPMENT DIRECTOR, FULL TIME SUPPORT STAFF MEMBER-NEW SUPPORT STAFF HIRED FOR 3D SHOP-GALLERY INCREASED PROGRAMMING OF UNDERREPRESENTED COMMUNITIES-ACADEMIC SERVICES REVIVED ANNUAL SELF-PORTRAIT COMPETITION | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $2,089,261 | ExpenseAmt |
| Revenue | $555,415 | RevenueAmt |
| Desc | -CONSTRUCTION OF THE ENTREPRENEURIAL STUDIES INFILL AND RENOVATION DURING THE SUMMER OF 2017.-COMPLETED THE FINAL DESIGN AND BIDDING FOR THE MORRISON ROOF REHABILITATION PROJECT. (COMPLETED SUMMER OF 2018).-THREE ROOF REPLACEMENTS THAT INCLUDED APARTMENT 150, MAINTENANCE BUILDING, AND A PORTION OF THE LIBRARY ROOF.-INSTALLATION AND IMPLEMENTATION OF CARD ACCESS ON THE EXTERIOR DOORS OF EVERY APARTMENT BUILDING ON CAMPUS.-DESIGN AND PLANNING FOR RENOVATING SPACE FOR A NEW PRODUCT DESIGN PROGRAM. (CONSTRUCTION IS PLANNED FOR THE SUMMER OF 2019).-UPDATED THE FACILITIES MASTER PLAN INCLUDING A SPACE OPTIMIZATION ANALYSIS. FINAL APPROVAL OF THE MASTER PLAN IS ANTICIPATED IN THE SPRING OF 2019.-UPDATED THE ANNUAL DEFERRED MAINTENANCE ANALYSIS WHICH CATALOGS THE OVERALL BUILDING CONDITIONS AND CAPITAL RENEWAL BACKLOG OF ALL CAMPUS PROPERTIES.-MANAGED THE DESIGN AND PLANNING FOR RENOVATING THE LIBRARY AND ADDING TWO ADDITIONAL E-CLASSROOMS. THIS PLANNING WILL BE INCORPORATED INTO A FINAL MASTER PLAN. -DEVELOPED A DESIGN PROCESS AND DESIGN SCHEDULE TO ANALYZE AND RENOVATE THE STUDENT CENTER AND CAFETERIA. FURTHER DESIGN AND PLANNING IS SCHEDULED FOR THE FALL OF 2018.-VARIOUS ENERGY PROJECTS WERE CONDUCTED THAT RESULTED IN ENERGY SAVINGS AND ENERGY REBATES. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $2,089,261 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Revenue | $555,415 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $29,765,930 | 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 |
| Temp Or Permanent Endowments | Yes (1) | TempOrPermanentEndowmentsInd |
| 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 With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | Yes (1) | 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 | 235 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 862 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| 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 |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 23 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 22 | 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 | 0 | 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 (28 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| JAY COOGAN EX-OFFICIO | |||||||
| PRESIDENT | 35.00 | Yes (X) | Yes (X) | $362,956 | $0 | $31,341 | |
| BRUCE W BEAN | |||||||
| LIFE TRUSTEE & CHAIR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| DAVID MOORE | |||||||
| VICE-CHAIR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| BILL THORBURN | |||||||
| TRUSTEE & VICE CHAIR | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| LESLIE BERKSHIRE | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| HOWARD RUBIN | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| TA-COUMBA AIKEN | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| URI CAMARENA | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| NANCY CARLSON | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| SUSAN CALMENSON | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| ANNE CASHILL | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MARK D PIHLSTROM | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| CY DECOSSE | |||||||
| LIFE TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| TARA DEV | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JOSEPH DONNELLY | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MILES Q FITERMAN | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| GREG C HEINEMANN | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| GARY M SURDEL | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MITZI MAGID | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| CLINTON H MORRISON | |||||||
| LIFE TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| ELIZABETH NIENTIMP | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| TODD PAULSON | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MARY BOWMAN RAE | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JOY E BRATHWAITE | |||||||
| VICE PRESIDENT, FINANCE / CFO | 35.00 | Yes (X) | $75,454 | $0 | $16,448 | ||
| KAREN WIRTH | |||||||
| VICE PRESIDENT, ACADEMIC AFFAIRS | 35.00 | $147,929 | $0 | $17,549 | Yes (X) | ||
| PAMELA NEWSOME - PROCHNIAK | |||||||
| VICE PRESIDENT, ADMINISTRATION | 35.00 | $129,594 | $0 | $14,084 | Yes (X) | ||
| CYNTHIA THEIS | |||||||
| AVP, INSTL. ADVANCEMENT | 35.00 | $133,851 | $0 | $16,279 | Yes (X) | ||
| MELISSA HUYBRECHT | |||||||
| VICE PRESIDENT, ENROLLMENT MANAGEMENT | 35.00 | $100,620 | $0 | $5,580 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $950,404 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $101,281 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 5 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (4 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 | $2,160,401 |
| MINNEAPOLIS INSTITUTE OF ARTS | |||||
| 2400 3RD AVE S | MINNEAPOLIS | MN | 55404 | PHYSICAL PLANT SERVICES | $351,289 |
| SELA ROOFING & REMODELING - COMMERCIAL D | |||||
| 1743 COUNTRY RD F EAST | WHITE BEAR LAKE | MN | 55110 | ROOFING & REMODELING SERVICES | $251,096 |
| LARKIN HOFFMAN DALY & LINDREN | |||||
| 8300 NORMAN CENTER DR SUITE 1000 | BLOOMINGTON | MN | 55437 | LEGAL SERVICES | $139,892 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 4 | CntrctRcvdGreaterThan100KCnt |
| Fundraising | $182,454 | FundraisingAmt |
| Government Grants | $114,274 | GovernmentGrantsAmt |
| All Other Contributions | $1,628,629 | AllOtherContributionsAmt |
| Noncash Contributions | $117,651 | NoncashContributionsAmt |
| Total Contributions | $1,925,357 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| TUITION AND FEES | 611710 | $27,368,424 | $27,368,424 |
| HOUSING RENTAL INCOME | 611710 | $1,384,271 | $1,384,271 |
| SALE OF OTHER SERVICES | 611710 | $907,333 | $907,333 |
| SALES BOOKSTORE | 611710 | $439,188 | $439,188 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $30,099,216 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,241,118 | TotalRevenueColumnAmt |
| Exclusion | $2,241,118 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $14,400 | TotalRevenueColumnAmt |
| Exclusion | $14,400 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $26,385,922 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $23,850,319 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $2,535,603 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,535,603 | TotalRevenueColumnAmt |
| Exclusion | $2,535,603 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $544,076 | FundraisingGrossIncomeAmt |
| Contri Rpt Fundraising Event | $182,454 | ContriRptFundraisingEventAmt |
| Fundraising Direct Expenses | $437,719 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $106,357 | TotalRevenueColumnAmt |
| Exclusion | $106,357 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $36,922,051 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $30,099,216 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $4,897,478 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,965,175 | TotalAmt |
| Program Services | $11,965,175 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,076,513 | TotalAmt |
| Program Services | $275,832 | ProgramServicesAmt |
| Management And General | $800,681 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,691,872 | TotalAmt |
| Program Services | $9,430,444 | ProgramServicesAmt |
| Management And General | $929,614 | ManagementAndGeneralAmt |
| Fundraising | $331,814 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $364,957 | TotalAmt |
| Program Services | $347,781 | ProgramServicesAmt |
| Management And General | $4,493 | ManagementAndGeneralAmt |
| Fundraising | $12,683 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $917,240 | TotalAmt |
| Program Services | $849,345 | ProgramServicesAmt |
| Management And General | $37,643 | ManagementAndGeneralAmt |
| Fundraising | $30,252 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $823,545 | TotalAmt |
| Program Services | $726,383 | ProgramServicesAmt |
| Management And General | $71,604 | ManagementAndGeneralAmt |
| Fundraising | $25,558 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $189,906 | TotalAmt |
| Management And General | $189,906 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $69,721 | TotalAmt |
| Management And General | $69,721 | ManagementAndGeneralAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $98,860 | TotalAmt |
| Management And General | $98,860 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $81,080 | TotalAmt |
| Management And General | $81,080 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,461,198 | TotalAmt |
| Program Services | $898,719 | ProgramServicesAmt |
| Management And General | $557,342 | ManagementAndGeneralAmt |
| Fundraising | $5,137 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $211,156 | TotalAmt |
| Program Services | $179,956 | ProgramServicesAmt |
| Management And General | $30,905 | ManagementAndGeneralAmt |
| Fundraising | $295 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,005,893 | TotalAmt |
| Program Services | $839,738 | ProgramServicesAmt |
| Management And General | $95,275 | ManagementAndGeneralAmt |
| Fundraising | $70,880 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $463,384 | TotalAmt |
| Program Services | $390,059 | ProgramServicesAmt |
| Management And General | $55,166 | ManagementAndGeneralAmt |
| Fundraising | $18,159 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,109,225 | TotalAmt |
| Program Services | $1,043,066 | ProgramServicesAmt |
| Management And General | $66,023 | ManagementAndGeneralAmt |
| Fundraising | $136 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $474,320 | TotalAmt |
| Program Services | $420,157 | ProgramServicesAmt |
| Management And General | $36,456 | ManagementAndGeneralAmt |
| Fundraising | $17,707 | FundraisingAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $59,333 | TotalAmt |
| Program Services | $34,555 | ProgramServicesAmt |
| Management And General | $16,470 | ManagementAndGeneralAmt |
| Fundraising | $8,308 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $277,092 | TotalAmt |
| Program Services | $258,582 | ProgramServicesAmt |
| Management And General | $18,510 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,142,413 | TotalAmt |
| Program Services | $1,119,108 | ProgramServicesAmt |
| Management And General | $23,305 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (2 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| EQUIPMENT REPAIRS & PUR | $579,194 | $399,047 | $179,864 | $283 |
| ADMINISTRATIVE FEES | $49,064 | $16,498 | $29,918 | $2,648 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $691,459 | TotalAmt |
| Program Services | $571,485 | ProgramServicesAmt |
| Management And General | $115,316 | ManagementAndGeneralAmt |
| Fundraising | $4,658 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $33,802,600 | TotalAmt |
| Program Services | $29,765,930 | ProgramServicesAmt |
| Management And General | $3,508,152 | ManagementAndGeneralAmt |
| Fundraising | $528,518 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $41,064 | BOYAmt |
| EOY | $125,182 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,499,912 | BOYAmt |
| EOY | $2,328,885 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,246,014 | BOYAmt |
| EOY | $741,590 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $199,867 | BOYAmt |
| EOY | $352,380 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $770,252 | BOYAmt |
| EOY | $707,570 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $214,527 | BOYAmt |
| EOY | $208,756 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $381,837 | BOYAmt |
| EOY | $164,334 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $38,083,874 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $17,213,225 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,709,402 | BOYAmt |
| EOY | $20,870,649 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $54,210,778 | BOYAmt |
| EOY | $57,319,705 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,651,144 | BOYAmt |
| EOY | $6,896,592 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $757,862 | BOYAmt |
| EOY | $4,268,823 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $87,682,659 | BOYAmt |
| EOY | $93,984,466 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,037,436 | BOYAmt |
| EOY | $3,044,863 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $667,527 | BOYAmt |
| EOY | $700,185 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $401,630 | BOYAmt |
| EOY | $408,171 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,512,369 | BOYAmt |
| EOY | $7,546,440 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $3,643,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $208,500 | BOYAmt |
| EOY | $255,701 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,827,462 | BOYAmt |
| EOY | $15,598,360 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $31,754,255 | BOYAmt |
| EOY | $35,137,257 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,547,029 | BOYAmt |
| EOY | $23,116,736 | EOYAmt |
Permanently Rstr Net Assets PermanentlyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,553,913 | BOYAmt |
| EOY | $20,132,113 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $74,855,197 | BOYAmt |
| EOY | $78,386,106 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $87,682,659 | BOYAmt |
| EOY | $93,984,466 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $3,119,451 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $167,849 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $243,609 | 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
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 | $98,860 | OtherActivitiesAmt |
| Total Lobbying Expenditures | $98,860 | 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 | 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. 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 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 | $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 Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| 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 Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| 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 |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $49,350,276 | BeginningYearBalanceAmt |
| Contributions | $504,758 | ContributionsAmt |
| Investment Earnings Or Losses | $3,188,284 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,207,332 | GrantsOrScholarshipsAmt |
| Other Expenditures | $618,364 | OtherExpendituresAmt |
| End Year Balance | $51,217,622 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $43,097,975 | BeginningYearBalanceAmt |
| Contributions | $724,631 | ContributionsAmt |
| Investment Earnings Or Losses | $7,166,374 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,079,414 | GrantsOrScholarshipsAmt |
| Other Expenditures | $559,290 | OtherExpendituresAmt |
| End Year Balance | $49,350,276 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.28350 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.35420 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.36230 | 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 | $33,861,401 | OtherCostOrOtherBasisAmt |
| Depreciation | $16,207,576 | DepreciationAmt |
| Book Value | $17,653,825 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,056,518 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,005,649 | DepreciationAmt |
| Book Value | $1,050,869 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $720,950 | OtherCostOrOtherBasisAmt |
| Book Value | $720,950 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $20,870,649 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | BENEFICIAL INTEREST IN TRUSTS | Desc |
| Book Value | $6,896,592 | BookValueAmt |
| Method Valuation | F | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $6,896,592 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ADVANCE DEPOSITS | Desc |
| Amt | $255,701 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $255,701 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $25,734,306 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $167,849 | NetUnrealizedGainsInvstAmt |
| Donated Services And Use Fclts | $9,333 | DonatedServicesAndUseFcltsAmt |
| Other Revenue | $683,167 | OtherRevenueAmt |
| Revenue Not Reported | $860,349 | RevenueNotReportedAmt |
| Revenue Subtotal | $24,873,957 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $81,080 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | $11,967,014 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $12,048,094 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $36,922,051 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $22,203,397 | TotExpnsEtcAuditedFinclStmtAmt |
| Donated Services Use Fclts | $9,333 | DonatedServicesUseFcltsAmt |
| Other Expenses Included | $437,719 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $447,052 | ExpensesNotReportedAmt |
| Expenses Subtotal | $21,756,345 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $81,080 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $11,965,175 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $12,046,255 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $33,802,600 | 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 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, 2018 AND 2017. 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 437,719. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUSTS 245,448. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | SCHOLARSHIP AND GRANTS 11,965,175. ACTUARIAL ADJUSTMENT 1,839. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | DIRECT EXPENSES FROM FUNDRAISING & SPECIAL EVENTS 437,719. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | SCHOLARSHIPS AND GRANTS 11,965,175. |
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 | 0 | EmployeeCnt |
| Type Of Activities Conducted | PROGRAM SERVICES | TypeOfActivitiesConductedTxt |
| Specific Services Provided | STUDY ABROAD PROGRAM | SpecificServicesProvidedTxt |
| Region Total Expenditures | $30,416 | RegionTotalExpendituresAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Offices | 0 | SubtotalOfficesCnt |
| Subtotal Employees | 0 | SubtotalEmployeesCnt |
| Continuation Total Office | 0 | ContinuationTotalOfficeCnt |
| Continuation Total Employee | 0 | ContinuationTotalEmployeeCnt |
| Total Office | 0 | TotalOfficeCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Subtotal Spent | $30,416 | SubtotalSpentAmt |
| Continuation Spent | $0 | ContinuationSpentAmt |
| Total Spent | $30,416 | 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 3: | FormAndLineReferenceDesc |
| Explanation | ACCRUAL | ExplanationTxt |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | NOVEMBER ART SALE | Event1Nm |
| Gross Receipts Event1 | $442,177 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $34,330 | CharitableContriEvent1Amt |
| Gross Revenue Event1 | $407,847 | GrossRevenueEvent1Amt |
| Food And Beverage Event1 | $7,730 | FoodAndBeverageEvent1Amt |
| Other Direct Expenses Event1 | $357,516 | OtherDirectExpensesEvent1Amt |
| Event2 | MAY ART AUCTION | Event2Nm |
| Gross Receipts Event2 | $284,353 | GrossReceiptsEvent2Amt |
| Charitable Contri Event2 | $148,124 | CharitableContriEvent2Amt |
| Gross Revenue Event2 | $136,229 | GrossRevenueEvent2Amt |
| Food And Beverage Event2 | $1,773 | FoodAndBeverageEvent2Amt |
| Other Direct Expenses Event2 | $70,700 | OtherDirectExpensesEvent2Amt |
| Gross Receipts Total | $726,530 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $182,454 | CharitableContributionsTotAmt |
| Gross Revenue Total Events | $544,076 | GrossRevenueTotalEventsAmt |
| Food And Beverage Total Events | $9,503 | FoodAndBeverageTotalEventsAmt |
| Oth Direct Expnss Total Events | $428,216 | OthDirectExpnssTotalEventsAmt |
| Direct Expense Summary Events | $437,719 | DirectExpenseSummaryEventsAmt |
| Net Income Summary | $106,357 | NetIncomeSummaryAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | SCHOLARSHIPS AND GRANTS PROVIDED AS FINANCIAL AID TO STUDENTS | GrantTypeTxt |
| Recipient | 701 | RecipientCnt |
| Cash Grant | $11,965,175 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | 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. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JAY COOGAN EX-OFFICIO | ||||||||||||||
| PRESIDENT | $336,696 | $0 | $25,000 | $0 | $1,260 | $0 | $13,500 | $0 | $17,841 | $0 | $394,297 | $0 | $0 | $0 |
| KAREN WIRTH | ||||||||||||||
| VICE PRESIDENT, ACADEMIC AFFAIRS | $147,449 | $0 | $0 | $0 | $480 | $0 | $7,617 | $0 | $9,932 | $0 | $165,478 | $0 | $0 | $0 |
| CYNTHIA THEIS | ||||||||||||||
| AVP, INSTL. ADVANCEMENT | $122,831 | $0 | $10,000 | $0 | $1,020 | $0 | $6,872 | $0 | $9,407 | $0 | $150,130 | $0 | $0 | $0 |
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 | REFUNDING OF SERIES 5K (ISSUED 8/1/01) | 0 | 0 | 0 |
| MHEFA SERIES 8-D | ||||||||
| B | 410988525 | 60416HF74 | 2015-03-26 | $7,974,697 | REFUNDING OF SERIES 6K (ISSUED 7/20/06) AND SERIES 6Z (ISSUED 11/24/09) | 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 | Current RefundingCurrentRefundingInd | Advance RefundingAdvanceRefundingInd | Final Allocation MadeFinalAllocationMadeInd | Adequate Books And Rec MaintAdequateBooksAndRecMaintInd |
|---|---|---|---|---|---|---|---|---|---|---|---|
| A | $1,497,823 | $3,222,823 | $321,500 | $64,456 | $2,836,061 | $806 | 2012 | Yes (1) | 0 | Yes (1) | Yes (1) |
| B | $1,970,372 | $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 | Yes (1) | 0 | 0 | 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 |
| 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 5/1/2019 |
Schedule M IRS990ScheduleM
Works Of Art WorksOfArtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 21 | ContributionCnt |
| Noncash Contributions Rpt F990 | $37,385 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | APPRAISAL | MethodOfDeterminingRevenuesTxt |
Clothing And Household Goods ClothingAndHouseholdGoodsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Noncash Contributions Rpt F990 | $18,000 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FAIR MARKET VALUE | MethodOfDeterminingRevenuesTxt |
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 8 | ContributionCnt |
| Noncash Contributions Rpt F990 | $14,856 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FAIR MARKET VALUE | MethodOfDeterminingRevenuesTxt |
Food Inventory FoodInventoryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 1 | ContributionCnt |
| Noncash Contributions Rpt F990 | $12,000 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FAIR MARKET VALUE | MethodOfDeterminingRevenuesTxt |
Other Non Cash Contri Table OtherNonCashContriTableGrp (3 entries)
| Non Cash CheckboxNonCashCheckboxInd | DescDesc | ContributionContributionCnt | Noncash Contributions Rpt F990NoncashContributionsRptF990Amt | Method Of Determining RevenuesMethodOfDeterminingRevenuesTxt |
|---|---|---|---|---|
| Yes (X) | PAINTING AND ADS | 2 | $21,833 | FAIR MARKET VALUE |
| Yes (X) | COMPUTERS | 10 | $13,550 | FAIR MARKET VALUE |
| Yes (X) | CAMERA | 1 | $27 | FAIR MARKET VALUE |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8283 Received | 1 | Form8283ReceivedCnt |
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | Yes (1) | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | 0 | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, COLUMN (B): | FormAndLineReferenceDesc |
| Explanation | THE NUMBER PRESENTED IN PART I, COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTORS. THE NUMBER PRESENTED IN PART I, COLUMN (B) FOR DONATED COMPUTERS AND WORKS OF ART REPRESENTS THE NUMBER OF ITEMS RECEIVED. | ExplanationTxt |
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 15A | 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. |
| FORM 990, PART VI, SECTION C, LINE 19 | DOCUMENTS ARE AVAILABLE UPON REQUEST FROM THE FINANCE OFFICE. |
| FORM 990, PART XI, LINE 9: | ACTUARIAL ADJUSTMENT -1,839. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUSTS 245,448. |