2015-05-12T10:28:08-05:00 2014-06-30 410746749 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2013-07-01 411879994 UNIVERSITY GATEWAY CORPORATION UNIV 6126243333 200 OAK STREET SE NO 500 MINNEAPOLIS MN 554552010 KATHLEEN L PICKARD TREASURER AND CFO 6126243333 2015-05-08 1 KAREN GRIES P00078514 6123764500 2013 2016-03-07 17:11:31Z KATHLEEN L PICKARD 200 OAK STREET SE NO 500 MINNEAPOLIS MN 554552010 6152381 0 X N/A X 1997 MN TO OWN AND OPERATE A FACILITY TO BE USED TO SUPPORT ITS BENEFICIARY ORGANIZATIONS. 6 3 0 3 856679 -74095 0 0 5773397 5788728 11 31 330765 363622 6104173 6152381 5000 0 0 0 0 0 0 0 0 5874615 5936234 5879615 5936234 224558 216147 76410957 79618535 54993293 54315503 21417664 25303032 X SEE SCHEDULE O.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 5349892 0 5288497 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. 5349892 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 0 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 0 X 6 3 0 1 0 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 FRED FRISWOLD CHAIR/PRESIDENT 1.00 0.00 X X 0 0 0 SARAH HARRIS DIRECTOR 1.00 40.00 X 0 244000 32725 KENT HORSAGER DIRECTOR 1.00 0.00 X 0 0 0 LAWRENCE A LAUKA DIRECTOR 1.00 0.00 X 0 0 0 LISA R LEWIS DIRECTOR 1.00 40.00 X 0 119090 26921 ELIZABETH A MALKERSON DIRECTOR (7/1/13-6/12/14) 1.00 40.00 X 0 452598 42565 KATHLEEN M SCHMIDLKOFER DIRECTOR (6/12/14-6/30/14) 1.00 40.00 X 0 0 0 KATHLEEN L PICKARD TREASURER & CFO 1.00 40.00 X 0 243921 46045 JAMES J HEINZ CHIEF OPERATING OFFICER 40.00 0.00 X 0 0 0 CURTIS COFFER SECRETARY 1.00 40.00 X 0 114256 31432 0 1173865 179688 0 0 1 0 NORTHMARQ REAL ESTATE SERVICES LLC PO BOX 860035 MINNEAPOLIS MN 554860035 MANAGEMENT SERVICES 1229423 HART HOWERTON ONE UNION STREET SAN FRANCISCO CA 94111 CONSTRUCTION PROJECT 594456 ABM JANITORIAL NORTH CENTRAL 75 REMITTANCE DRIVE 3048 CHICAGO IL 606753048 JANITORIAL CLEANING 453951 RJM CONSTRUCTION LLC SDS 12-2903 PO BOX 86 MINNEAPOLIS MN 554862903 CONSTRUCTION PROJECT 244581 MA MORTENSON COMPANY PO BOX 710 MINNEAPOLIS MN 55440 CONSTRUCTION PROJECT 183388 9 DIRECT FINANCING LEASE 721000 2784079 2784079 LEASE INCOME 532000 1752880 1752880 CONFERENCE CENTER SERV 721000 1251769 751538 500231 5788728 31 31 7174 7174 CATERING 722320 356448 356448 356448 6152381 5288497 856679 7205 1803108 1330743 472365 1475 1475 35275 35275 94417 94417 101837 101837 535620 535620 1228220 1228220 427130 427130 77151 77151 BUILDING/EVENTS OPERATI 952950 952950 FINANCING - BOND FEES 666672 666672 HERITAGE GALLERY 9840 9840 2539 2463 76 5936234 5349892 586342 0 545433 286275 196633 114161 50675 136888 23008878 6265273 15709520 16743605 59908696 62337606 76410957 79618535 1223112 1168819 51673899 51012571 2096282 2134113 54993293 54315503 X 21417664 25303032 21417664 25303032 76410957 79618535 X 216147 3669221 X 0 1 X 1 0 X X X 0 0 0 U OF MN FOUNDATION 416042488 5 1 1 1 0 U OF MN ALUMNI ASSOCIATION 410637089 7 1 1 1 0 2 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 $5,349,892 REPRESENT EXPENDITURES IN SUPPORT OF THE UNIVERSITY OF MINNESOTA AND THE TWO ORGANIZATIONS LISTED IN PART I OF SCHEDULE A. X X 0 15477285 2335261 13142024 3986946 3375426 611520 3544647 554586 2990061 16743605 RESTRICTED CASH 356400 INTEREST IN ASSETS OF RELATED PARTIES 30175760 DEBT ISSUE COST, NET 829927 DIRECT FINANCING LEASES 30975519 62337606 DERIVATIVE FINANCIAL INSTRUMENT 1911106 CAPITAL LEASE PAYABLE 223007 2134113 X 6152381 0 6152381 0 6152381 5936234 0 5936234 0 5936234 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. 0 0 0 0 0 0 0 0 0 SARAH HARRIS DIRECTOR 0 190000 0 54000 0 0 0 3899 0 28826 0 276725 0 0 ELIZABETH A MALKERSON DIRECTOR (7/1/13-6/12/14) 0 347618 0 102564 0 2416 0 33150 0 9415 0 495163 0 0 KATHLEEN L PICKARD TREASURER & CFO 0 193629 0 47747 0 2545 0 26152 0 19893 0 289966 0 0 PART I, LINE 1A UNIVERSITY GATEWAY CORPORATION DOES NOT DIRECTLY COMPENSATE ITS DIRECTORS AND OFFICERS. COMPENSATION IS PAID TO 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 2006) 416005375 603786FK5 2006-04-12 22608196 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 4383196 22608196 349265 22258931 2006 0 1 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 0 0 1 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 2006) DATE THE REBATE COMPUTATION WAS PERFORMED: 02/18/2010 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 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 SCHEDULE J. 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 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 APPOINT THE BOARD OF DIRECTORS. 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 -50,811. CHANGE IN INTEREST IN THE NET ASSETS OF RELATED PARTIES 3,720,032. 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