2017-05-05T15:12:23-05:00 2016-06-30 410746749 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2015-07-01 411879994 UNIVERSITY GATEWAY CORPORATION UNIV 6126243333 200 OAK STREET SE NO 500 MINNEAPOLIS MN 554552010 KATHLEEN L PICKARD TREASURER AND CFO 6126243333 2017-05-02 1 KAREN GRIES P00078514 6123764500 2015 2021-01-29 14:40:06Z SARAH HARRIS 200 OAK STREET SE NO 500 MINNEAPOLIS MN 554552010 6427478 0 X N/A X 1997 MN TO OWN AND OPERATE A FACILITY TO BE USED TO SUPPORT ITS BENEFICIARY ORGANIZATIONS. 5 2 0 4 1098146 0 0 0 5841221 5906939 344 35 359489 520504 6201054 6427478 0 4955814 0 0 0 0 0 0 0 6537458 5891295 6537458 10847109 -336404 -4419631 81242414 75984990 54822562 54246566 26419852 21738424 X UNIVERSITY GATEWAY CORPORATION OWNS AND OPERATES A FACILITY WHICH IS USED TO SUPPORT ITS BENEFICIARY ORGANIZATIONS AND THE UNIVERSITY OF MINNESOTA IN STUDENT RECRUITING, ALUMNI RELATIONS, FUNDRAISING AND THE GENERAL OPERATION OF THE BENEFICIARY ORGANIZATIONS AND THE UNIVERSITY OF MINNESOTA. THE BENEFICIARY ORGANIZATIONS INCLUDE THE UNIVERSITY OF MINNESOTA FOUNDATION AND THE UNIVERSITY OF MINNESOTA ALUMNI ASSOCIATION. 0 0 10264639 4955814 5324861 THE PROGRAM SERVICES OF THE UNIVERSITY GATEWAY CORPORATION ARE DEDICATED TO PROVIDING SUPPORT FOR ITS BENEFICIARY ORGANIZATIONS LISTED ON SCHEDULE A, PART IV AND THE UNIVERSITY OF MINNESOTA. UNIVERSITY GATEWAY CORPORATION PROVIDES SUPPORT TO THESE ORGANIZATIONS BY PROVIDING AFFORDABLE LEASE RATES AND PREFERENTIAL USE OF EVENT FACILITIES. 10264639 1 0 0 0 0 0 0 1 0 0 1 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 5 2 1 1 1 0 1 1 1 1 1 0 0 1 1 1 1 0 0 0 0 0 MN X KATHLEEN L PICKARD 6126243333 200 OAK STREET SE SUITE 500 MINNEAPOLIS MN 554552010 SARAH HARRIS CHAIR/PRESIDENT 1.00 40.00 X X 0 278154 43645 FRED FRISWOLD CHAIR/PRESIDENT THROUGH 04/2016 1.00 0.00 X X 0 0 0 KATHLEEN L PICKARD DIRECTOR/TREASURER/CFO 1.00 40.00 X X 0 252858 51582 LISA R LEWIS DIRECTOR/SECRETARY 1.00 40.00 X X 0 220418 41649 WALT LING DIRECTOR 1.00 0.00 X 0 0 0 KENT HORSAGER DIRECTOR 1.00 0.00 X 0 0 0 LAWRENCE A LAUKKA DIRECTOR THROUGH 04/2016 1.00 0.00 X 0 0 0 KATHLEEN M SCHMIDLKOFER DIRECTOR THROUGH 04/2016 1.00 40.00 X 0 457387 36098 JAMES J HEINZ CHIEF OPERATING OFFICER 40.00 0.00 X 0 0 0 VANESSA CLARK CONTROLLER 1.00 40.00 X 0 94764 20449 BRENDA HEGG ASSISTANT SECRETARY 1.00 40.00 X 0 85309 31645 CURTIS COFFER SECRETARY THROUGH 03/2016 1.00 40.00 X 0 119426 35132 0 1508316 260200 0 0 1 0 MA MORTENSON COMPANY 700 MEADOW LANE NORTH MINNEAPOLIS MN 55422 CONSTRUCTION PROJECT 1771248 NORTHMARQ REAL ESTATE SERVICES LLC 3500 AMERICAN BLVD W STE 200 MINNEAPOLIS MN 55431 MANAGEMENT SERVICES 1285862 ABM ONSITE SERVICES-MIDWEST INC 75 REMITTANCE DR STE 3048 CHICAGO IL 60675 JANITORIAL SERVICES 530523 ARCHETYPE SIGNMAKERS INC 9635 GIRARD AVE S MINNEAPOLIS MN 55431 CONSTRUCTION PROJECT 422837 HART HOWERTON 13911 RIDGEDALE DR STE 220 MINNETONKA MN 55305 CONSTRUCTION PROJECT 216479 6 DIRECT FINANCING LEASE 721000 2629871 2629871 LEASE INCOME 532000 1871744 1871744 CONFERENCE CENTER SERV 721000 1405324 823246 582078 5906939 35 35 4436 4436 CATERING 722320 516068 516068 516068 6427478 5324861 1098146 4471 4955814 4955814 1864098 1396523 467575 5817 5817 28329 28329 108801 108801 105405 105405 520133 520133 912388 912388 492055 492055 79669 79669 BUILDING/EVENTS OPERATI 1190283 1190283 FINANCING - BOND FEES 572482 572482 HERITAGE GALLERY 8208 8208 3627 2547 1080 10847109 10264639 582470 0 635271 814223 100728 273514 72265 53186 21740811 7068826 17946231 14671985 62487919 60172082 81242414 75984990 1504847 1246875 51087729 50092125 2229986 2907566 54822562 54246566 X 26419852 21738424 26419852 21738424 81242414 75984990 X -4419631 -261797 X 0 1 X 1 0 X X 2 U OF MN FOUNDATION 416042488 5 1 0 0 U OF MN ALUMNI ASSOCIATION 410637089 7 1 0 0 2 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 SCHEDULE A, PART I THE TAXPAYER SUPPORTS EACH OF ITS BENEFICIARY ORGANIZATIONS BY PROVIDING OFFICE SPACE AND EVENT SPACE FOR THOSE ORGANIZATIONS AND THE UNIVERSITY OF MINNESOTA AS PREFERENTIAL TENANTS. THE AMOUNT OF SUPPORT CANNOT BE MONETARILY QUANTIFIED; HOWEVER, THE PROGRAM SERVICE EXPENSES OF $10,264,639 REPRESENT EXPENDITURES IN SUPPORT OF THE UNIVERSITY OF MINNESOTA AND THE TWO ORGANIZATIONS LISTED IN PART I OF SCHEDULE A. X X 0 15584203 2788680 12795523 4266770 3630128 636642 1889838 650018 1239820 14671985 RESTRICTED CASH 473769 INTEREST IN ASSETS OF RELATED PARTIES 29818746 DEBT ISSUE COST, NET 807370 DIRECT FINANCING LEASES 29072197 60172082 DERIVATIVE FINANCIAL INSTRUMENT 2712665 CAPITAL LEASE PAYABLE 194901 2907566 X 6427478 0 6427478 0 6427478 10379534 0 10379534 467575 467575 10847109 PART III, LINE 4: THE CORPORATION MAINTAINS THE HERITAGE GALLERY, A DISPLAY OF OBJECTS OF HISTORICAL SIGNIFICANCE RELATED TO THE UNIVERSITY OF MINNESOTA. THE GALLERY IS FREE AND OPEN TO THE PUBLIC DURING NORMAL BUILDING HOURS. HISTORICAL OBJECTS HELD ARE OF SIGNIFICANCE TO THE UNIVERSITY BUT HAVE NO ASCERTAINABLE VALUE IN THE MARKETPLACE. WHILE THE CORPORATION'S POLICY WOULD BE TO RECOGNIZE INCOME AND CAPITALIZE SUCH ASSETS, FAIR VALUE IS NOT DETERMINABLE AND SO NO ASSETS ARE HELD ON THE BOOKS. PART X, LINE 2: THE CORPORATION IS A NOT-FOR-PROFIT ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND IS ONLY SUBJECT TO FEDERAL INCOME TAX ON NET UNRELATED BUSINESS INCOME. THE CORPORATION HAS ADOPTED GUIDANCE IN THE INCOME TAX STANDARD REGARDING THE RECOGNITION OF UNCERTAIN TAX POSITIONS. THE GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX FILING THAT ARE NOT CERTAIN TO BE REALIZED. THE IMPLEMENTATION OF THIS GUIDANCE HAD NO IMPACT ON THE CORPORATION'S FINANCIAL STATEMENTS. THE CORPORATION'S TAX FILINGS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE CORPORATION IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX EXEMPT STATUS. TAX FILINGS MADE BY THE CORPORATION ARE GENERALLY SUBJECT TO EXAMINATION BY FEDERAL, STATE AND LOCAL TAXING AUTHORITIES FOR A PERIOD OF THREE YEARS FROM THE DATE OF FILING. PART XII, LINE 4B - OTHER ADJUSTMENTS: ASSET MANAGEMENT FEE 467,575. 1 UNIVERSITY OF MINNESOTA 2221 UNIVERSITY AVE SE SUITE 111 MINNEAPOLIS MN 55414 416007513 GOV'T 4955814 BOOK VALUE SCHOLARS WALK RENOVATIONS AND DISCOVERY GALLERY THE UNIVERSITY GATEWAY CORPORATION GIFTED THE SCHOLARS WALK RENOVATIONS AND DISCOVERY GALLERY TO THE UNIVERSITY OF MINNESOTA. 1 0 PART I, LINE 2: ALL FUND GRANTS ARE APPROVED BY THE BOARD OF DIRECTORS. 0 0 0 0 0 0 0 0 0 SARAH HARRIS CHAIR/PRESIDENT 0 233154 0 45000 0 0 0 12823 0 30822 0 321799 0 0 KATHLEEN L PICKARD DIRECTOR/TREASURER/CFO 0 207894 0 42460 0 2504 0 28014 0 23568 0 304440 0 0 LISA R LEWIS DIRECTOR/SECRETARY 0 220418 0 0 0 0 0 22042 0 19607 0 262067 0 0 KATHLEEN M SCHMIDLKOFER DIRECTOR THROUGH 04/2016 0 351973 0 105000 0 414 0 26500 0 9598 0 493485 0 0 CURTIS COFFER SECRETARY THROUGH 03/2016 0 119426 0 0 0 0 0 15525 0 19607 0 154558 0 0 PART I, LINE 1A UNIVERSITY GATEWAY CORPORATION DOES NOT DIRECTLY COMPENSATE ITS DIRECTORS AND OFFICERS. COMPENSATION IS PAID TO CERTAIN UNIVERSITY GATEWAY CORPORATION'S DIRECTORS AND OFFICERS BY ITS BENEFICIARY ORGANIZATIONS: THE UNIVERSITY OF MINNESOTA FOUNDATION (UMF) AND THE UNIVERSITY OF MINNESOTA ALUMNI ASSOCIATION (UMAA). UNIVERSITY GATEWAY CORPORATION RELIED ON ITS BENEFICIARY ORGANIZATIONS TO DETERMINE COMPENSATION THROUGH THE APPROPRIATE PROCESS, WHICH INCLUDES REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABILITY DATA, AND CONTEMPORANEOUS SUBSTANTIATION. UMF USED A COMPENSATION COMMITTEE, COMPENSATION STUDY, INDEPENDENT COMPENSATION CONSULTANT, THE FORM 990 OF OTHER ORGANIZATIONS, AND APPROVAL BY THE BOARD TO SET COMPENSATION FOR ITS OFFICERS, WHILE UMAA USED A COMPENSATION COMMITTEE AND COMPENSATION STUDY TO SET COMPENSATION FOR ITS OFFICERS. A CITY OF MINNEAPOLIS (SERIES 2015) 416005375 603786HU1 2015-02-19 18264595 PROV. FUNDS TO REFUND PRIOR ISSUE 0 0 0 B CITY OF MINNEAPOLIS (SERIES 2009) 416005375 603786FP4 2009-10-22 10500000 BUILDING EXPANSION 0 0 0 A 915000 18264595 318830 17945765 2015 1 0 1 1 B 10500000 159653 68250 10264393 7704 2011 0 0 1 1 A 0 1 1 1 0 0.00000 0.00000 0.00000 0 0 1 B 0 1 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 0 0 1 1 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: CITY OF MINNEAPOLIS (SERIES 2009) DATE THE REBATE COMPUTATION WAS PERFORMED: 01/31/2011 SCHEDULE K, PART III, LINES 4-6 THE CORPORATION'S BOND COUNSEL HAS ASSESSED AND APPROVED THE CORPORATION'S PRIVATE BUSINESS USE ON ITS BONDS. THE STRAIGHT PERCENTAGE METHOD DOES NOT APPLY AS THERE IS NOT DEDICATED SPACE GENERATING PRIVATE BUSINESS USE. THE CALCULATIONS COMPLETED BY BOND COUNSEL TAKE INTO ACCOUNT SPACE, REVENUE, AND TIME. FORM 990, PART VI, SECTION A, LINE 2 KATHLEEN M. SCHMIDLKOFER, KATHLEEN L. PICKARD, SARAH HARRIS, VANESSA CLARK, AND BRENDA HEGG - BUSINESS RELATIONSHIP FRED FISWOLD, KATHLEEN M. SCHMIDLKOFER, AND KATHLEEN L. PICKARD - BUSINESS RELATIONSHIP LISA R. LEWIS AND CURTIS COFFER - BUSINESS RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 3 UNIVERSITY GATEWAY CORPORATION PAYS CUSHMAN & WAKEFIELD/NORTHMARQ REAL ESTATE SERVICES ("NORTHMARQ") TO ACT AS THE PROPERTY MANAGER OF THE BUILDING. NORTHMARQ KEEPS TRACK OF THE BOOKS AND ALLOCATES EXPENSES TO UNIVERSITY GATEWAY CORPORATION FOR THE EMPLOYEES THAT IT PROVIDES. JIM HEINZ, CHIEF OPERATING OFFICER, IS AN EMPLOYEE OF NORTHMARQ. DUE TO THE EXTENT OF HIS MANAGEMENT AUTHORITY, JIM HEINZ IS AN OFFICER OF THE BOARD AND IS LISTED ON FORM 990, PART VII. HOWEVER, BECAUSE HE IS EMPLOYED BY NORTHMARQ, AN UNRELATED PARTY, NO COMPENSATION APPEARS ON PART VII ON THE 990 OR SCHEDULE J. THE AGREEMENT BETWEEN UNIVERSITY GATEWAY CORPORATION AND NORTHMARQ, WHICH RENEWS ANNUALLY IF NOT TERMINATED BY EITHER THE CORPORATION OR NORTHMARQ, PROVIDES FOR AN ANNUAL MANAGEMENT FEE PLUS THE COST OF ON-SITE PERSONNEL. THE UNIVERSITY GATEWAY CORPORATION HAS NO EMPLOYEES. FORM 990, PART VI, SECTION A, LINE 4 UNIVERSITY GATEWAY CORPORATION AMENDED THE BYLAWS IN APRIL 2016 TO REDUCE THE NUMBER OF VOTING DIRECTORS FROM SIX TO FIVE, TO ADD TWO EX-OFFICIO OFFICERS IN THE CAPACITIES OF CONTROLLER AND ASSISTANT SECRETARY, AND TO SPECIFY TWO YEARS OF NON-EX-OFFICIO OFFICERS UPON ELECTION. FORM 990, PART VI, SECTION A, LINE 6 UNIVERSITY GATEWAY CORPORATION'S MEMBERS CONSIST OF ITS BENEFICIARY ORGANIZATIONS: THE UNIVERSITY OF MINNESOTA FOUNDATION AND THE UNIVERSITY OF MINNESOTA ALUMNI ASSOCIATION. FORM 990, PART VI, SECTION A, LINE 7A UNIVERSITY GATEWAY CORPORATION'S MEMBERS OF THE BOARD OF DIRECTORS ARE THE CHIEF FINANCIAL OFFICERS OF EACH OF THE TWO MEMBERS, AND THE MANAGING DIRECTOR OF UNIVERSITY OF MINNESOTA FOUNDATION REAL ESTATE ADVISORS ("UMFREA"), EACH OF WHOM SERVE AS EX-OFFICIO, VOTING DIRECTORS; AND ONE DIRECTOR APPOINTED BY EACH OF THE TWO MEMBERS. IN THE ABSENCE OR UNAVAILABILITY OF ANY OF THE EX-OFFICIO DIRECTORS IDENTIFIED ABOVE, THE MEMBERS OR UMFREA, AS APPROPRIATE, MAY DESIGNATE ANOTHER OF ITS OFFICERS TO SERVE AS THE EX-OFFICIO DIRECTOR ON AN INTERIM BASIS. FORM 990, PART VI, SECTION A, LINE 7B UNIVERSITY GATEWAY CORPORATION MAY NOT TAKE THE FOLLOWING ACTIONS WITHOUT RECEIVING UNANIMOUS MEMBER APPROVAL: SELL, LEASE OR OTHERWISE DISPOSE OF ALL OR SUBSTANTIALLY ALL OF ITS PROPERTY AND ASSETS; VOLUNTARILY DISSOLVE; AMEND THE ARTICLES OR BYLAWS; MERGE OR CONSOLIDATE WITH ANY DOMESTIC OR FOREIGN ORGANIZATION OR LEASE OR SELL MORE THAN FIFTY PERCENT (50%) OF THE CORPORATION'S PROPERTY AND ASSETS IN ANY ONE TRANSACTION OR SERIES OF RELATED TRANSACTIONS; SELECT ADDITIONAL BENEFICIARY ORGANIZATIONS; OR ADMIT ADDITIONAL MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED BY A PROFESSIONAL ACCOUNTING FIRM FROM INFORMATION PROVIDED BY UNIVERSITY GATEWAY CORPORATION. THE CHIEF FINANCIAL OFFICER OF UNIVERSITY GATEWAY CORPORATION THEN REVIEWS THE FORM 990 FOR ACCURACY. THE FORM IS THEN DISTRIBUTED TO THE BOARD AND ANY COMMENTS ON THE FORM ARE DISCUSSED PRIOR TO THE FILING OF THE FORM. FORM 990, PART VI, SECTION B, LINE 12C THE UNIVERSITY GATEWAY CORPORATION DOES HAVE A BOARD APPROVED CONFLICT OF INTEREST STATEMENT. THE OFFICERS AND DIRECTORS OF THE BOARD ARE REQUIRED ANNUALLY TO READ THE CONFLICT OF INTEREST STATEMENT AND DISCLOSE ANY INTERESTS THAT COULD BE OF CONFLICT. THE CHIEF FINANCIAL OFFICER REVIEWS THE CONFLICT OF INTEREST STATEMENTS FOR ANY POTENTIAL CONFLICTS. THE POLICY INDICATES THAT "IF A CONFLICT OR POTENTIAL CONFLICT ARISES, THE INDIVIDUAL SHALL DISCLOSE, IN WRITING, THE EXISTENCE OF THE CONFLICT TO THE CHAIR OF THE BOARD OF UNIVERSITY GATEWAY CORPORATION PRIOR TO MAKING, OR PARTICIPATING IN, ANY UNIVERSITY GATEWAY CORPORATION DECISION INVOLVING THE SITUATION IN WHICH THE CONFLICT OF INTEREST EXISTS. THE CHAIR OF THE BOARD SHALL DOCUMENT THE DECISION MADE ON THE MATTER RESULTING FROM THE CONFLICT, DETAILING THE FACTORS INVOLVED IN THE DECISION." FORM 990, PART VI, SECTION C, LINE 19 UNIVERSITY GATEWAY CORPORATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, LINE 13: SINCE THE UNIVERSITY GATEWAY CORPORATION HAS NO EMPLOYEES, IT DOES NOT HAVE A WHISTLEBLOWER POLICY. HOWEVER, THE TWO BENEFICIARY ORGANIZATIONS (UNIVERSITY OF MINNESOTA FOUNDATION AND UNIVERSITY OF MINNESOTA ALUMNI ASSOCIATION) EACH HAVE THEIR OWN WHISTLEBLOWER POLICIES. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF DERIVATIVE FINANCIAL INSTRUMENT -692,003. CHANGE IN INTEREST IN THE NET ASSETS OF RELATED PARTIES 430,206. UNIVERSITY OF MINNESOTA FOUNDATION 200 OAK STREET SE SUITE 500 MINNEAPOLIS MN 55455 416042488 FUNDRAISING MN 501(C)(3) LINE 5 N/A 0 UNIVERSITY OF MINNESOTA ALUMNI ASSOCIATION 200 OAK STREET SE SUITE 200 MINNEAPOLIS MN 55455 410637089 ALUMNI MN 501(C)(3) LINE 7 N/A 0 0 0 1 0 1 0 0 0 0 1 0 1 0 1 0 1 0 0 0