2018-11-15T14:59:03-06:00 2018-06-30 410746749 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2017-07-01 410693856 DUNWOODY COLLEGE OF TECHNOLOGY DUNW 6123745800 818 DUNWOODY BOULEVARD MINNEAPOLIS MN 55403 RICHARD WAGNER PRESIDENT 6123745800 2018-11-08 1 DON LOBERG P01541048 6123764500 67.137.57.251 2018-11-08 14:46:07 CS P 8930F06402091CE01DE01F5E1C46450EDDF6C8AB D58F7A891376973A2C688259087F0D91BA8942CB 2017 2019-02-21 02:37:17Z RICHARD WAGNER 818 DUNWOODY BOULEVARD MINNEAPOLIS MN 55403 36046123 0 X WWW.DUNWOODY.EDU X 1914 MN DUNWOODY COLLEGE OF TECHNOLOGY OFFERS CERTIFICATE, ASSOCIATE AND BACHELOR DEGREE PROGRAMS, WHICH LEAD TO IMMEDIATE JOBS AND GREAT CAREERS TO MEET TODAY'S WORKFORCE NEEDS. 25 25 364 675 0 0 9247562 4346492 25266573 26998508 932365 1094441 -4104 -16352 35442396 32423089 1575861 1954262 0 0 15256523 16968920 0 0 1922496 9883275 10359556 26715659 29282738 8726737 3140351 47777583 51699099 12666247 13037764 35111336 38661335 X DUNWOODY COLLEGE OF TECHNOLOGY CHANGES LIVES BY BUILDING OPPORTUNITIES FOR GRADUATES TO HAVE SUCCESSFUL CAREERS, TO DEVELOP INTO LEADERS AND ENTREPRENEURS, AND TO ENGAGE IN "THE BETTER PERFORMANCE OF LIFE'S DUTIES." (QUOTE IS FROM THE LAST WILL AND TESTAMENT OF WILLIAM HOOD DUNWOODY.) 1 0 20535008 1954262 26998508 SEE SCHEDULE OFOUNDED IN 1914, DUNWOODY COLLEGE OF TECHNOLOGY IS A PRIVATE, NOT-FOR-PROFIT COLLEGE COMMITTED TO PREPARING STUDENTS FOR GREAT CAREERS IN HIGH-DEMAND, STEM-RELATED FIELDS. IT IS THE OLDEST INSTITUTION OF ITS KIND IN THE UPPER MIDWEST.DUNWOODY IS ACCREDITED BY THE HIGHER LEARNING COMMISSION AND IS A MEMBER OF THE NORTH CENTRAL ASSOCIATION. THE COMMISSION'S WEB ADDRESS AND PHONE NUMBER ARE: WWW.NCAHIGHERLEARNINGCOMMISSION.ORG AND 312-263-0456.DUNWOODY'S ACTIVE, EXPERIENTIAL LEARNING MODEL HAS PROVIDED A HANDS-ON, APPLIED EDUCATION TO MORE THAN 250,000 MEN AND WOMEN, WHO HAVE GONE ON TO REWARDING CAREERS AS OUTSTANDING TECHNICIANS, SUCCESSFUL ENTREPRENEURS, AND INDUSTRY LEADERS.DUNWOODY COLLEGE TEACHES PROBLEM SOLVING AND CRITICAL THINKING ALONG WITH PRACTICAL, REAL-WORLD SKILLS THAT ARE SOUGHT AFTER BY BUSINESS AND INDUSTRY.LOCATED ON THE WESTERN EDGE OF DOWNTOWN MINNEAPOLIS, DUNWOODY OFFERS MORE THAN 45 CERTIFICATE, ASSOCIATE'S DEGREE, AND BACHELOR'S DEGREE PROGRAMS IN THE AREAS OF AUTOMOTIVE, BUSINESS MANAGEMENT, COMPUTER TECHNOLOGY, CONSTRUCTION SCIENCES & BUILDING TECHNOLOGY, DESIGN & GRAPHICS TECHNOLOGY, ENGINEERING, RADIOLOGIC TECHNOLOGY, AND ROBOTICS & MANUFACTURING.INSTRUCTION AT DUNWOODY IS STRUCTURED ON AN 18-WEEK SEMESTER. AN ACADEMIC YEAR INCLUDES TWO 18-WEEK SEMESTERS WITH A NINE-WEEK SUMMER SESSION. PROGRAMS OF INSTRUCTION MAY LEAD TO A CERTIFICATE, ASSOCIATE OF APPLIED SCIENCE (A.A.S.) DEGREE, A BACHELOR OF SCIENCE (B.S.) DEGREE, OR A BACHEOR OF ARCHITECTURE (B.ARCH.) DEGREE. IT IS DUNWOODY'S GOAL THAT GRADUATING STUDENTS WILL BECOME RESPONSIBLE, CONTRIBUTING CITIZENS AS WELL AS ABLE TECHNICIANS AND LEADERS IN THEIR PROFESSIONS.DUNWOODY ALSO OFFERS TRAINING OPPORTUNITIES TO BOTH INDIVIDUALS AND COMPANIES THROUGH WORKFORCE TRAINING & CONTINUING EDUCATION.AS OF FALL SEMESTER 2017, DUNWOODY HAD AN ENROLLMENT OF 1,302 STUDENTS. FOR THE 2016-17 ACADEMIC YEAR, DUNWOODY CAREER SERVIES REPORTS A PLACEMENT RATE OF 98%. 20535008 1 1 0 1 0 0 0 0 1 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 1 35 0 364 1 0 0 0 0 0 0 0 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MN X ACCOUNTING ATTN PETER ZELLER 6123745800 818 DUNWOODY BOULEVARD MINNEAPOLIS MN 55403 RICHARD WAGNER PHD PRESIDENT 40.00 X X 245546 0 7184 CHARLIE WESTLING BOARD CHAIR 1.00 X X 0 0 0 MICHAEL L LE JEUNE BOARD VICE CHAIR 1.00 X X 0 0 0 MARK G SHERRY SECRETARY 1.00 X X 0 0 0 MICHAEL M SILL II TREASURER 1.00 X X 0 0 0 RUSSEL BECKER TRUSTEE 1.00 X 0 0 0 NANCY M DAHL TRUSTEE 1.00 X 0 0 0 BRUCE W ENGELSMA TRUSTEE 1.00 X 0 0 0 JAMES D ENGELSMA TRUSTEE 1.00 X 0 0 0 THEODORE A FERRARA TRUSTEE 1.00 X 0 0 0 MARK G FLEISCHHACKER TRUSTEE 1.00 X 0 0 0 JAMES R FOX TRUSTEE 1.00 X 0 0 0 PAUL W GRUNAU TRUSTEE 1.00 X 0 0 0 BJORN GUNNERUD TRUSTEE 1.00 X 0 0 0 MICHAEL HANSON TRUSTEE 1.00 X 0 0 0 JAMES L HOLMGREN TRUSTEE 1.00 X 0 0 0 VICTORIA M HOLT TRUSTEE 1.00 X 0 0 0 ARTHUR W JOHNSON TRUSTEE 1.00 X 0 0 0 RICHARD J JUELICH TRUSTEE 1.00 X 0 0 0 THOMAS M KIEFFER TRUSTEE 1.00 X 0 0 0 WILLIAM J MATEIKIS TRUSTEE 1.00 X 0 0 0 JEFFREY C MOOREFIELD TRUSTEE 1.00 X 0 0 0 ANDREA L NEWMAN TRUSTEE 1.00 X 0 0 0 DALE A NORDQUIST TRUSTEE 1.00 X 0 0 0 JULIE A OWEN TRUSTEE 1.00 X 0 0 0 KAY PHILLIPS TRUSTEE 1.00 X 0 0 0 KIMBERLY A RANDOLPH TRUSTEE 1.00 X 0 0 0 CYNTHIA WAGENER ROBIN TRUSTEE 1.00 X 0 0 0 C MARTIN SCHUSTER TRUSTEE 1.00 X 0 0 0 TREASA SPRINGETT TRUSTEE 1.00 X 0 0 0 GREGG E STEDRONSKY TRUSTEE 1.00 X 0 0 0 ROBERT W STROM TRUSTEE 1.00 X 0 0 0 JAMES MCDONALD CFO 40.00 X 160272 0 32225 TAMMY MCGEE CFO (STARTED JUNE 2018) 40.00 X 0 0 0 STUART LANG VP INSTITUTIONAL ADVANCEMENT 40.00 X 174232 0 5283 JEFFERY YLINEN PROVOST 40.00 X 138378 0 19743 PATRICIA EDMAN VP HUMAN RESOURCES 40.00 X 124207 0 18316 CYNTHIA OLSON VP ENROLLMENT MANAGEMENT 40.00 X 107760 0 31809 DAWN FISH DIRECTOR OF DEVELOPMENT 40.00 X 110306 0 32572 EVERETTE DAIGLE DEAN OF ROBOTICS AND MANUFACTURING 40.00 X 106993 0 8391 1167694 0 155523 10 0 1 0 RILEY HAYES 333 SOUTH FIRST STREET MINNEAPOLIS MN 55401 MARKETING/ADVERTISING 930609 CREDO LLC 940 GOLF HOUSE ROAD W 200 WHITSETT NC 27377 STRATEGIC CONSULTING 687826 INTERSTATE SECURITY SERVICES 1711 WEST COUNTY ROAD B ROSEVILLE MN 55113 CLEANING/SECURITY 218565 CHANNEL FINANCIAL PENSION SERVICES 7500 OLSON MEMORIAL HWY STE 225 GOLDEN VALLEY MN 55427 PROFESSIONAL FINANCIAL SERVICE 201833 TAHER INC 5570 SMETANA DRIVE MINNETONKA MN 55343 CATERING 159075 6 50601 321938 3973953 107606 4346492 TUITION & RELATED INCOME 611600 26608223 26608223 OTHER PROGRAM SERVICE REVENUES 900099 390285 390285 26998508 600967 600967 4078821 3585347 493474 493474 493474 21335 50601 37687 -16352 -16352 32423089 26998508 0 1078089 1954262 1954262 593515 333864 259651 12826859 10530218 1562609 734032 347087 347087 2218257 1464721 637426 116110 983202 778296 132800 72106 34860 3820 25548 5492 66569 1992 64577 6000 6000 209468 -120 58267 151321 749304 70614 478134 200556 1178848 1161346 4450 13052 1227621 936842 92247 198532 1764706 216264 1513452 34990 88262 61650 26574 38 333953 267685 50708 15560 99137 62238 27814 9085 356556 356556 2990099 2750891 209307 29901 BAD DEBT EXPENSE 681540 681540 MEALS 316289 179890 55730 80669 MISC EXPENSE 244673 94399 148873 1401 BANKING FEES 11671 11671 29282738 20535008 6825234 1922496 1191566 1238613 6131045 3346553 2730621 2747330 565125 441819 184054 210392 55277094 36922221 12527223 18354873 14280721 15251359 10167228 10108160 47777583 51699099 1758725 4682093 1139696 993630 9387187 6974081 380639 387960 12666247 13037764 X 3905332 9501791 16209742 13998778 14996262 15160766 35111336 38661335 47777583 51699099 X 3140351 424411 -14763 X X 0 1 X 1 1 1 X 0 0 0 0 0 0 0 0 0 0 1 6000 0 0 6000 0 PART II-B, LINE 1: THE COLLEGE PAID A TOTAL OF $6,000 IN RETAINER FEES TO A CONSULTING FIRM FOR LOBBYING ACTIVITY DURING THE YEAR. 0 0 22264353 157790 871509 122512 556368 22614773 20447483 1362224 1245157 142657 647854 22264353 21638847 214108 -922475 78608 404389 20447483 21555419 573644 -323102 167114 21638847 19947776 109643 2351410 853410 21555419 0.02220 0.67040 0.30740 0 0 828504 828504 26178703 20273981 5904722 20816896 16648240 4168656 7452991 7452991 18354873 BENEFICIAL INTEREST IN PERPETUAL TRUST 9144767 F SPLIT-INTEREST AGREEMENTS 963393 F 10108160 ANNUITY OBLIGATIONS 97087 ENVIRONMENTAL REMEDIATION 290873 387960 X 31524419 424411 1278891 1589 1704891 29819528 209588 2393973 2603561 32423089 28414131 1278891 16352 1295243 27118888 209588 1954262 2163850 29282738 PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO PROVIDE SCHOLARSHIPS AND TO FUND COLLEGE OPERATIONS. PART X, LINE 2: THE COLLEGE IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND IS GENERALLY NOT SUBJECT TO INCOME TAXES. THEREFORE, ALL CONTRIBUTIONS ARE TAX DEDUCTIBLE. THE COLLEGE FOLLOWS THE GUIDANCE IN THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE COLLEGE FOLLOWS THE ACCOUNTING STANDARD FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THE COLLEGE HAS NO CURRENT OBLIGATION FOR UNRELATED BUSINESS INCOME TAX. THE COLLEGE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: TRUST DISTRIBUTIONS -14,763. SPECIAL EVENTS EXPENSE 16,352. PART XI, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT INCOME GREATER THAN SPENDING RATE 439,711. SCHOLARSHIPS 1,954,262. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSE 16,352. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 1,954,262. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 WRITTEN MATERIALS RELATED TO THE COLLEGE'S POLICIES ARE GIVEN TO STUDENTS AT ORIENTATION. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES PELL, SEOG, FEDERAL WORK STUDY, VETERANS BENEFITS, AND VARIOUS GOVERNMENT-BACKED LOANS AND RELATED STATE FUNDS. GOLF EVENT - FUND #5051 40020 26095 13925 675 14383 1925 3343 KATE DUNWOODY LUNCHEON - #5059 25200 19550 5650 6748 9139 1 6716 4956 1760 1474 71936 50601 21335 675 14383 10147 12482 37687 -16352 1 SCHOLARSHIP AWARDS 1657649 N/A N/A INSTITUTIONAL DISCOUNTS 296613 N/A N/A PART I, LINE 2: ENDOWED AND ANNUAL SCHOLARSHIPS ARE AWARDED BASED ON CERTAIN CRITERIA SET BY THE INSTITUTION (DUNWOODY) AND DONORS. STUDENTS APPLY FOR SCHOLARSHIPS STARTING SPRING SEMESTER OF THE PREVIOUS SCHOOL YEAR. APPLICATIONS ARE COMPILED AND REVIEWED BY A SCHOLARSHIP COMMITTEE. THE SCHOLARSHIP COMMITTEE CHOOSES THE STUDENT OR STUDENTS WHO ARE MOST DESERVING OF THE AWARD BASED ON THE CRITERIA AND FINANCIAL NEED. STUDENTS ARE NOTIFIED BY THE FINANCIAL AID OFFICE OF THE ACCEPTANCE TO THE AWARDS WHICH THEN BECOME PART OF THEIR FINANCIAL AID PACKAGE. SCHOLARSHIPS ARE DISBURSED TO THE STUDENTS ACCOUNT AS A CREDIT ON A SEMIANNUAL BASIS WHICH REDUCES THEIR TUITION. STUDENTS WRITE THANK YOU NOTES TO DONORS OF SCHOLARSHIPS SHOWING THEIR APPRECIATION. IF A THANK YOU NOTE ISN'T WRITTEN, THE STUDENT DOESN'T RECEIVE THE SCHOLARSHIP. SCHOLARSHIPS ARE MONITORED BY THE FINANCIAL AID OFFICE. IF A STUDENT WITHDRAWS FROM SCHOOL, THE SCHOLARSHIP IS REVOKED. X X X X 0 0 0 0 0 1 0 0 0 RICHARD WAGNER PHD PRESIDENT 245251 0 0 0 295 0 6617 0 567 0 252730 0 0 0 JAMES MCDONALD CFO 150122 0 0 0 10150 0 5087 0 27138 0 192497 0 0 0 STUART LANG VP INSTITUTIONAL ADVANCEMENT 174232 0 0 0 0 0 5208 0 75 0 179515 0 0 0 JEFFERY YLINEN PROVOST 130631 0 0 0 7747 0 4335 0 15408 0 158121 0 0 0 PART I, LINE 6 THE BOARD HAS ELECTED TO PROVIDE A SHORT TERM INCENTIVE PLAN AT A TARGET OF 10% ANNUAL SALARY AS PART OF THE PRESIDENT'S COMPENSATION AND BENEFITS PACKAGE. IT'S PURPOSE IS TO CREATE A CLEAR LINE OF SIGHT BETWEEN INDIVIDUAL AND ORGANIZATIONAL GOALS AND THE ATTAINMENT OF AGREED UPON FINANCIAL METRICS. X 5 18708 FAIR MARKET VALUE X 11 49853 STOCK MARKET QUOTES X TOOLS, MACHINERY, EDUCATIONAL EQUIPMENT, MISC SUPPLIES 16 79025 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): COLUMN (B) REPORTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART III, LINE 2 THE COLLEGE WILL BE LAUNCHING A BACHELOR OF SCIENCE IN ELECTRICAL ENGINEERING IN FALL 2018. THE COLLEGE WAS ALSO APPROVED TO OFFER AN ASSOCIATE OF APPLIED SCIENCE DEGREE IN FACILITIES OPERATIONS AND MANAGEMENT. FORM 990, PART VI, SECTION A, LINE 1 THERE SHALL BE AN EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES OF THE CORPORATION CONSISTING OF NO FEWER THAN FIVE (5) MEMBERS, INCLUDING THE CHAIR OF THE BOARD, PRESIDENT, AND SUCH OTHER PERSONS ELECTED BY THE BOARD OF TRUSTEES BY RESOLUTION. ALL OF THE MEMBERS OF THE EXECUTIVE COMMITTEE SHALL BE TRUSTEES. THE EXECUTIVE COMMITTEE SHALL ACT ONLY DURING INTERVALS BETWEEN MEETINGS OF THE BOARD OF TRUSTEES AND SHALL AT ALL TIMES BE SUBJECT TO THE CONTROL AND DIRECTION OF THE BOARD OF TRUSTEES. DURING SUCH INTERVALS AND SUBJECT TO SUCH CONTROL AND DIRECTION, THE EXECUTIVE COMMITTEE SHALL HAVE AND MAY EXERCISE ALL OF THE AUTHORITY AND POWERS OF THE BOARD OF TRUSTEES IN THE MANAGEMENT OF THE AFFAIRS OF THE CORPORATION, SUBJECT TO SUCH LIMITATIONS AS THE BOARD OF TRUSTEES MAY IMPOSE. THE EXECUTIVE COMMITTEE SHALL KEEP REGULAR MINUTES OF ITS PROCEEDINGS AND REPORT THE SAME TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. THE FORM 990 IS PROVIDED TO THE BOARD OF TRUSTEES. THE BOARD OF TRUSTEES IS GIVEN TWO WEEKS TO CONFIRM RECEIPT, REVIEW, AND BRING QUESTIONS OR CONCERNS TO THE PRESIDENT AND CFO. AFTER THE TWO WEEKS, THE FORM 990 IS FILED WITH GOVERNMENT AGENCIES. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE'S CONFLICT OF INTEREST POLICY APPLIES TO ALL OFFICERS, TRUSTEES AND COMMITTEE MEMBERS. IF AN INDIVIDUAL HAS A POTENTIAL OR ACTUAL CONFLICT OF INTEREST, THEY ARE REQUIRED TO DISCLOSE THE MATERIAL FACTS TO THE BOARD OR COMMITTEE BEFORE THE TRANSACTION IN QUESTION IS CONSIDERED. AFTER PRESENTING THE MATERIAL FACTS, THE INTERESTED PERSON IS REQUIRED TO LEAVE THE ROOM FOR THE DISCUSSION AND VOTE ON THE MATTER. TO INVESTIGATE ALTERNATIVES, THE BOARD OR COMMITTEE MAY REQUEST COMPARABILITY DATA AND/OR APPOINT A DISINTERESTED PERSON. IF A MORE ADVANTAGEOUS TRANSACTION IS NOT REASONABLY ATTAINABLE, THE DISINTERESTED BOARD OR COMMITTEE MEMBERS DETERMINE, BY MAJORITY VOTE, WHETHER TO ENTER INTO THE TRANSACTION. ALL RELEVANT INFORMATION IS RECORDED IN THE MINUTES OF THE MEETING. EACH OFFICER, TRUSTEE AND COMMITTEE IS REQUIRED TO ANNUALLY REVIEW THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15A WHEN DETERMINING THE COMPENSATION OF THE PRESIDENT, THE CHAIR OF THE BOARD AND THE EXECUTIVE COMMITTEE USE SALARY BENCHMARKING DATA TO RECOMMEND THE PRESIDENT'S COMPENSATION. AN INDEPENDENT OUTSIDE FIRM PREPARED BENCHMARK DATA FROM MULTIPLE SOURCES. THE EXECUTIVE COMMITTEE REVIEWED THE DATA AND THE SALARY DETERMINATION WAS COMPLETED IN OCTOBER 2017. WHEN DETERMINING THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES, THE H.R. VICE PRESIDENT PROVIDES SALARY BENCHMARKING DATA TO THE PRESIDENT WHO DETERMINES THEIR COMPENSATION. SALARY INCREASE GUIDELINES ARE PROVIDED BY THE FINANCE DEPARTMENT BASED ON BUDGET CONSTRAINTS. THIS PROCESS WAS LAST UNDERTAKEN IN SEPTEMBER 2017. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: TRUST DISTRIBUTIONS -14,763. FORM 990 PART XII LINE 2C THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS FROM THE PRIOR YEAR. KATE L DUNWOODY TRUST PO BOX 64713 ST PAUL MN 55164 416014903 PERPETUAL TRUST MN 501(C)(3) PF DUNWOODY COLLEGE OF TECHNOLOGY 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 KATE L DUNWOODY TRUST - OUTSTANDING LOAN AMOUNT E 2400000 LOAN AMOUNT KATE L DUNWOODY TRUST - CASH DISTRIBUTIONS S 473208 CASH TRANSFERRED