2015-11-10T15:50:23-06:00 2015-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2014-07-01 510166951 MINNESOTA PRIVATE COLLEGE FUND MINN 6512289061 445 MINNESOTA STREET NO 500 ST PAUL MN 55101 PAUL D CERKVENIK PRESIDENT & CEO 6512289061 2015-11-10 1 LAWRENCE H MOHR CPA P00447603 6128764500 2014 2016-03-07 17:11:31Z PAUL D CERKVENIK 445 MINNESOTA STREET NO 500 ST PAUL MN 55101 1151971 0 X WWW.MNPRIVATECOLLEGES.ORG X 1975 MN THE MINNESOTA PRIVATE COLLEGE FUND SERVES THE SHARED NEEDS OF ITS MEMBERS BY SEEKING PHILANTHROPIC SUPPORT FROM CORPORATIONS AND FOUNDATIONS FOR BENEFIT OF ITS MEMBER COLLEGES AND UNIVERSITIES AND THE STUDENTS THEY EDUCATE. FUNDS WERE DISTRIBUTED TO 17 MEMBERS IN FY 2015. 34 33 0 33 0 0 868117 1148213 0 0 1713 1675 51 2083 869881 1151971 760339 887463 0 0 0 0 0 0 110408 388374 393380 1148713 1280843 -278832 -128872 1640888 1584435 275501 347920 1365387 1236515 THE MINNESOTA PRIVATE COLLEGE FUND SERVES THE SHARED NEEDS OF ITS MEMBERS BY SEEKING PHILANTHROPIC SUPPORT FROM CORPORATIONS, FOUNDATIONS, AND OTHERS FOR THE BENEFIT OF ITS MEMBER COLLEGES AND UNIVERSITIES AND THE STUDENTS THEY EDUCATE. 0 0 1034166 887463 2083 DISTRIBUTION OF FINANCIAL SUPPORT FOR THE 17 MEMBER PRIVATE COLLEGES AND UNIVERSITIES AND THEIR STUDENTS. THE MAJORITY OF FUNDS DISTRIBUTED TO MEMBER COLLEGES AND UNIVERSITIES PROVIDES NEED-BASED SCHOLARSHIPS FOR STUDENTS FROM LOW- AND MIDDLE-INCOME FAMILIES. THE REST OF THE FUNDS SUPPORT MEMBERS' GENERAL OPERATIONS INCLUDING BOOKS, LAB EQUIPMENT, COMPUTERS, UTILITIES, MAINTENANCE AND OTHER CORE NEEDS. MORE THAN 96% OF THE CONTRIBUTIONS RAISED BY THE FUND GO DIRECTLY TO MEMBER INSTITUTIONS AND THEIR STUDENTS. THE REMAINING AMOUNT IS DIRECTED BY DONORS FOR SPECIFIC SCHOLARSHIP PROGRAM ADMINISTRATION. 119149 THE MAYO INNOVATION SCHOLARS PROGRAM IS A COLLABORATIVE PROGRAM OFFERING SELECTED SCIENCE AND BUSINESS STUDENTS THE OPPORTUNITY TO RESEARCH PROJECTS SUBMITTED BY MAYO CLINIC PROFESSIONALS. ELEVEN MEMBERS, 55 STUDENTS AND 32 FACULTY MEMBERS PARTICIPATED IN FY 2015. 1153315 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 X 44 0 0 0 0 0 0 0 0 0 0 0 0 X 34 33 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MN X MARY METZLER 6512936807 445 MINNESOTA ST 500 ST PAUL MN 55101 X DAVID R ANDERSON DIRECTOR 1.00 1.00 X 0 0 0 JAMES H BARNES III DIRECTOR, SECRETARY/TREAS. 1.00 1.00 X X 0 0 0 REBECCA BERGMAN DIRECTOR 1.00 1.00 X 0 0 0 DAN BRUSS DIRECTOR, CHAIR 1.00 3.00 X X 0 0 0 JAY COOGAN DIRECTOR 1.00 1.00 X 0 0 0 KATHLEEN COONEY DIRECTOR 1.00 1.00 X 0 0 0 WILLIAM CRAFT DIRECTOR 1.00 1.00 X 0 0 0 SUSAN EICH DIRECTOR 1.00 1.00 X 0 0 0 LARRY GOODWIN DIRECTOR 1.00 1.00 X 0 0 0 JOE GRABA DIRECTOR 1.00 1.00 X 0 0 0 JAMES GREEN DIRECTOR 1.00 1.00 X 0 0 0 H THEODORE GRINDAL DIRECTOR 1.00 1.00 X 0 0 0 LINDA HANSON DIRECTOR 1.00 1.00 X 0 0 0 MICHAEL HEMESATH DIRECTOR 1.00 1.00 X 0 0 0 MARY HINTON DIRECTOR 1.00 1.00 X 0 0 0 ANN HOUSER DIRECTOR 1.00 1.00 X 0 0 0 ANDREA J LEE IHM DIRECTOR 1.00 1.00 X 0 0 0 MICHAEL LOVETT DIRECTOR 1.00 1.00 X 0 0 0 BR WILLIAM MANN FSC DIRECTOR 1.00 1.00 X 0 0 0 ROBERT MATTISON DIRECTOR, VICE CHAIR 1.00 1.00 X X 0 0 0 RUSSELL MICHALETZ DIRECTOR 1.00 1.00 X 0 0 0 TIM MORIN DIRECTOR 1.00 1.00 X 0 0 0 LAURIE NORDQUIST DIRECTOR 1.00 1.00 X 0 0 0 DAN NYGAARD DIRECTOR 1.00 1.00 X 0 0 0 KATHLEEN PINKET DIRECTOR 1.00 1.00 X 0 0 0 STEVEN G POSKANZER DIRECTOR 1.00 1.00 X 0 0 0 PAUL PRIBBENOW DIRECTOR 1.00 1.00 X 0 0 0 THOMAS RIES DIRECTOR 1.00 1.00 X 0 0 0 BRIAN ROSENBERG DIRECTOR 1.00 1.00 X 0 0 0 JULIE SULLIVAN DIRECTOR 1.00 1.00 X 0 0 0 DAVID SWANSON DIRECTOR 1.00 1.00 X 0 0 0 LOANNE THRANE DIRECTOR 1.00 1.00 X 0 0 0 EDWARD T WAHL DIRECTOR 1.00 1.00 X 0 0 0 PAUL D CERKVENIK PRESIDENT & CEO (PD BY RELATED ORG) 3.00 52.00 X X 0 309849 49916 MARY METZLER VP FINANCE & OPS (PD BY RELATED ORG) 1.00 39.00 X 0 92100 19398 0 401949 69314 0 0 1 0 0 1148213 1148213 1675 1675 MISCELLANEOUS 900099 2083 2083 2083 1151971 2083 0 1675 887463 887463 193147 94641 3865 94641 785 473 312 8865 8865 125532 125532 622 622 20899 13905 274 6720 1039 1039 14632 11855 110 2667 13404 11903 271 1230 MARKETING AND COMMUNICA 11305 6602 184 4519 SEARCH PROCESS 2500 2500 PROFESSIONAL DEVELOPMEN 650 319 12 319 1280843 1153315 17120 110408 1279006 1119820 344089 448189 12493 11126 9648 9648 0 0 5300 5300 1640888 1584435 1218 622 263260 338358 8470 6387 2553 2553 275501 347920 X 785918 563288 579469 673227 1365387 1236515 1640888 1584435 -128872 0 X X 0 1 X 1 0 X 1109651 1073154 1372939 868117 1148213 5572074 1109651 1073154 1372939 868117 1148213 5572074 1857519 3714555 3497 2901 4987 1713 1675 14773 9000 6800 23990 51 2083 41924 5628771 0.65990 0.71100 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9648 9648 0 0 AGENCY FUNDS 2553 2553 X 1203595 51624 51624 1151971 0 1151971 1332467 51624 51624 1280843 0 1280843 PART X, LINE 2: THE FUND FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGINITION 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 FUND FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2015 AND 2014. THE FUND'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE TAX RETURNS FOR FISCAL YEARS 2012 AND THEREAFTER ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. 1 AUGSBURG COLLEGE 2211 RIVERSIDE AVE MINNEAPOLIS MN 55454 410694721 501(C )(3) 86797 OPERATIONS, STUDENT SCHOLARSHIPS BETHANY LUTHERAN COLLEGE 700 LUTHER DR MANKATO MN 56001 410747165 501(C )(3) 28521 OPERATIONS, STUDENT SCHOLARSHIPS BETHEL UNIVERSITY 3900 BETHEL DR ST PAUL MN 55112 410708577 501(C )(3) 38434 OPERATIONS, STUDENT SCHOLARSHIPS CARLETON COLLEGE ONE NORTH COLLEGE ST NORTHFIELD MN 55057 410694747 501(C )(3) 38810 OPERATIONS, STUDENT SCHOLARSHIPS COLLEGE OF SAINT BENEDICT 37 COLLEGE AVE SO ST JOSEPH MN 56374 410969244 501(C )(3) 39144 OPERATIONS, STUDENT SCHOLARSHIPS COLLEGE OF ST SCHOLASTICA 1200 KENWOOD AVE DULUTH MN 55811 410698301 501(C )(3) 63530 OPERATIONS, STUDENT SCHOLARSHIPS CONCORDIA COLLEGE 901 SOUTH 8TH ST MOORHEAD MN 56562 410693977 501(C )(3) 69463 OPERATIONS, STUDENT SCHOLARSHIPS CONCORDIA UNIVERSITY 275 NORTH SYNDICATE ST PAUL MN 55104 410696906 501(C )(3) 45772 OPERATIONS, STUDENT SCHOLARSHIPS GUSTAVUS ADOLPHUS COLLEGE 800 WEST COLLEGE AVE ST PETER MN 56082 410695524 501(C )(3) 62284 OPERATIONS, STUDENT SCHOLARSHIPS HAMLINE UNIVERSITY 1536 HEWITT AVE ST ST PAUL MN 55104 410693960 501(C )(3) 42849 OPERATIONS, STUDENT SCHOLARSHIPS MACALESTER COLLEGE 1600 GRAND AVE ST PAUL MN 55105 410693962 501(C )(3) 50831 OPERATIONS, STUDENT SCHOLARSHIPS MINNEAPOLIS COLLEGE OF ART & DESIGN 2501 STEVENS AVE SO MINNEAPOLIS MN 55404 411607453 501(C )(3) 28985 OPERATIONS, STUDENT SCHOLARSHIPS SAINT JOHN'S UNIVERSITY PO BOX 2000 COLLEGEVILLE MN 56321 453656162 501(C )(3) 39747 OPERATIONS, STUDENT SCHOLARSHIPS SAINT MARYS UNIVERSITY OF MINNESOTA 700 TERRACE HEIGHTS WINONA MN 55987 410695527 501(C )(3) 32352 OPERATIONS, STUDENT SCHOLARSHIPS ST CATHERINE UNIVERSITY 2004 RANDOLPH AVE ST PAUL MN 55105 410695509 501(C )(3) 52736 OPERATIONS, STUDENT SCHOLARSHIPS ST OLAF COLLEGE 1520 ST OLAF AVE NORTHFIELD MN 55057 410693979 501(C )(3) 69453 OPERATIONS, STUDENT SCHOLARSHIPS UNIVERSITY OF ST THOMAS 2115 SUMMIT AVE ST PAUL MN 55115 410693970 501(C )(3) 57755 OPERATIONS, STUDENT SCHOLARSHIPS 17 PART I, LINE 2: MINNESOTA PRIVATE COLLEGE FUND MEMBERS ARE PROVIDED WITH SCHOLARSHIP GUIDELINES AND RESTRICTIONS IN ACCORDANCE WITH DONOR RESTRICTIONS. EACH MEMBER INSTITUTION AWARDS SCHOLARSHIPS BASED ON THESE GUIDELINES AND ALL DISBURSEMENTS ARE MONITORED BY EACH RESPECTIVE INSTITUTION'S FINANCIAL AID OFFICE. X X X X X X 0 0 0 0 0 0 0 0 0 PAUL D CERKVENIK PRESIDENT & CEO (PD BY RELATED ORG) 0 266092 0 0 0 43757 0 23400 0 26516 0 359765 0 0 PART I, LINE 3 THE PRESIDENT'S COMPENSATION WAS DETERMINED BY THE MINNESOTA PRIVATE COLLEGE COUNCIL USING THE METHODS CHECKED IN SCHEDULE J, PART I, LINE 3. SCHEDULE J, PART II: THE COMPENSATION LISTED FOR THE PRESIDENT IS DETERMINED BY, AND ENTIRELY PAID FOR, BY THE MINNESOTA PRIVATE COLLEGE COUNCIL, INC., A RELATED NONPROFIT ASSOCIATION. THE MINNESOTA PRIVATE COLLEGE COUNCIL, INC. DONATES THESE SERVICES IN THEIR ENTIRETY TO THE MINNESOTA PRIVATE COLLEGE FUND; NO MINNESOTA PRIVATE COLLEGE FUND RESOURCES OR CONTRIBUTIONS RAISED ARE USED TO PAY FOR THE PRESIDENT'S COMPENSATION FOR THE SERVICES RENDERED. FORM 990, PART V, LINE 1A & 2A: THE MINNESOTA PRIVATE COLLEGE COUNCIL, INC. AND MINNESOTA PRIVATE COLLEGE FUND ARE RELATED NONPROFIT ASSOCIATIONS UTILIZING A COMMON BOARD OF DIRECTORS AND ADMINISTRATION EXCLUSIVELY FOR THE BENEFIT OF CHARITABLE AND EDUCATIONAL PURPOSES WITH THE OBJECTIVE OF PROMOTING THE GENERAL WELFARE OF HIGHER EDUCATION AND THE ADVANCEMENT OF LEARNING FOR THE PUBLIC GOOD. THE MEMBERSHIP OF THE FUND IS LIMITED TO NONPROFIT, TAX-EXEMPT, INDEPENDENT COLLEGE AND UNIVERSITIES IN THE STATE OF MINNESOTA WITH CURRICULUMS LEADING TO A BACHELOR'S DEGREE THAT ARE FULLY ACCREDITED BY THE NORTH CENTRAL ASSOCIATION OF COLLEGES AND SECONDARY SCHOOLS. THERE ARE CURRENTLY 17 MEMBERS. MINNESOTA PRIVATE COLLEGE COUNCIL, INC. SERVES AS EMPLOYER FOR ALL EMPLOYED PERSONNEL PROVIDING SERVICES TO THE MINNESOTA PRIVATE COLLEGE COUNCIL, INC., AND MINNESOTA PRIVATE COLLEGE FUND. THE MINNESOTA PRIVATE COLLEGE FUND REIMBURSES THE MINNESOTA PRIVATE COLLEGE COUNCIL, INC. FOR THE SERVICES OF THREE COUNCIL EMPLOYEES SPENDING 100% OF THEIR TIME ON FUND ACTIVITIES. TO A LIMITED EXTENT, OTHER COUNCIL EMPLOYEES FROM TIME TO TIME PROVIDE MANAGEMENT, ADMINISTRATIVE, OR PROGRAM SUPPORT SERVICES FOR THE FUND, AND TO THE EXTENT THAT SUCH SERVICES ARE PROVIDED, THE COUNCIL PROVIDES THESE SERVICES TO THE FUND ON A DONATED BASIS. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE IS COMPRISED OF ANY DIRECTORS WHO ARE NOMINATED BY THE NOMINATING COMMITTEE AND ELECTED TO THE EXECUTIVE COMMITTEE BY THE BOARD OF DIRECTORS, AS WELL AS THE BOARD CHAIR, PAST CHAIR, VICE CHAIR, SECRETARY, TREASURER, PRESIDENT, AND PROVIDED THAT SUCH PERSON IS A DIRECTOR, THE CHAIRPERSON OF EACH STANDING COMMITTEE AND OF THE FUNDRAISING COMMITTEE OF MINNESOTA PRIVATE COLLEGE FUND. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE BUSINESS OF THE ORGANIZATION IN THE INTERVAL BETWEEN MEETINGS OF THE BOARD, AND IS SUBJECT AT ALL TIME TO THE CONTROL AND DIRECTION OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE OF THE BOARD PERFORMS A DETAILED REVIEW OF THE FORM 990 AT ITS FALL MEETING AND OFFICIALLY APPROVES IT FOR FILING. FOLLOWING THE AUDIT COMMITTEE'S APPROVAL, THE 990 IS PROVIDED TO EVERY BOARD MEMBER AT LEAST TWO WEEKS PRIOR TO ITS FILING. THERE IS NO FORMAL BOARD ACTION ON THE IRS 990 SUBMISSION UNLESS REQUESTED BY A MEMBER OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS AND SENIOR STAFF ARE ASKED ANNUALLY TO FILL OUT A CONFLICT OF INTEREST DISCLOSURE. PERSONS DISCLOSING A CONFLICT OF INTEREST MUST LEAVE THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE GOVERNING BOARD OR COMMITTEE MEETING REGARDING THE PROPOSED TRANSACTION OR ARRANGEMENT, BUT THEN MUST LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING POSSIBLE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A THE PRESIDENT'S COMPENSATION WAS DETERMINED BY THE MINNESOTA PRIVATE COLLEGE COUNCIL USING THE METHODS CHECKED IN SCHEDULE J, PART I, LINE 3. FORM 990, PART VI, SECTION C, LINE 19 THE FUND WILL PROVIDE COPIES OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS TO THE PUBLIC UPON REQUEST. FORM 990, PART VII, OFFICER COMPENSATION: THE COMPENSATION LISTED FOR THE PRESIDENT AND VICE PRESIDENT IS DETERMINED BY, AND ENTIRELY PAID FOR, BY THE MINNESOTA PRIVATE COLLEGE COUNCIL, INC., A RELATED NONPROFIT ASSOCIATION. THE MINNESOTA PRIVATE COLLEGE COUNCIL, INC. DONATES THESE SERVICES IN THEIR ENTIRETY TO THE MINNESOTA PRIVATE COLLEGE FUND; NO MINNESOTA PRIVATE COLLEGE FUND RESOURCES OR CONTRIBUTIONS RAISED ARE USED TO PAY FOR THE COMPENSATION OF THE PRESIDENT AND VICE PRESIDENT FOR SERVICES RENDERED. FORM 990, PART XII, LINE 2C THE PROCESS FOR THE OVERSIGHT AND SELECTION FOR THE AUDIT OF THE FINANCIAL STATEMENTS DID NOT CHANGE. PARTNERS FOR EDUCATION OPPORTUNITY 445 MINNESOTA ST STE 500 ST PAUL MN 55101 411891401 HIGHER EDUCATION RELATED ACTIVITY MN 501(C)(4) 0 MINNESOTA PRIVATE COLLEGE COUNCIL INC 445 MINNESOTA ST STE 500 ST PAUL MN 55101 455394262 HIGHER EDUCATION RELATED ACTIVITY MN 501(C)(4) 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 MINNESOTA PRIVATE COLLEGES COUNCIL INC P 185236 COST-SALARY REIMBURSEMENT MINNESOTA PRIVATE COLLEGES COUNCIL INC P 7551 COST-RENT REIMBURSEMENT