2015-04-10T12:11:32-05:00 2014-05-31 450250958 EIDE BAILLY LLP 24 2ND AVE SW PO BOX 430 ABERDEEN SD 574020430 990 2013-06-01 460280847 Presentation College PRES 6052291634 1500 North Main Aberdeen SD 57401 Margaret Huber President 6052291634 2015-03-30 1 Melissa White CPA P00851284 6052258783 2015-03-30 2013 2016-02-25 16:41:14Z Margaret Huber 1500 North Main Aberdeen SD 57401 24024363 0 0928 X www.presentation.edu X 1951 SD Challenge learners toward academic excellence and the development of the whole person. 16 16 315 30 0 0 1522530 2469506 10828410 13544312 499763 579845 18451 30706 12869154 16624369 2057683 2629597 0 0 6700868 7455272 0 0 652948 3923090 5504717 12681641 15589586 187513 1034783 38052440 38214721 17170031 15690759 20882409 22523962 X Welcoming people of all faiths, Presentation College challenges learners toward academic excellence and, in the Catholic tradition, the development of the whole person. 0 0 9367323 12201975 Provided educational services at locations in Aberdeen, SD, Eagle Butte, SD, Fairmont, MN, Sioux Falls, SD and online to 536 full time and 265 part time students in Fall 2013 and 499 full time and 262 part time students in Spring 2014 as well as provided education to approximately 286 students through summer sessions in 2013. 2415996 1336584 Auxiliary enterprises - campus housing, food service, bookstore, and Strode facility 2629597 2629597 Funded and unfunded scholarships and grants 36459 Other student fees and program support revenue 36459 14412916 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 0 0 0 1 43 0 1 315 1 0 0 0 0 0 1 1 0 0 0 0 X 16 16 0 0 0 0 1 1 1 1 0 0 1 1 0 1 1 1 0 1 1 1 0 MN X Cathy Hall 6052298453 1500 N Main St Aberdeen SD 57401 Julie Johnson Chair 2.00 X X 0 0 0 Deacon Peter Mehlhaff Vice Chair 2.00 X X 0 0 0 Sr Patricia Prunty PBVM Secretary 2.00 X X 0 0 0 Larry Wirebaugh Member 2.00 X 0 0 0 Sr Joan Marie Brandner PBVM Member 2.00 X 0 0 0 Sr Francene Evans PBVM Member 2.00 X 0 0 0 Sr Ruth Geraets PBVM Member 2.00 X 0 0 0 Sr Annrita Johnson PBVM Member 2.00 X 0 0 0 John Lemke Member 2.00 X 0 0 0 James Kuch Member 2.00 X 0 0 0 Esther Preszler Member 2.00 X 0 0 0 Michael Duch Member 2.00 X 0 0 0 Sr Pam Donelan Member 2.00 X 0 0 0 Dave Giovannini Member 2.00 X 0 0 0 Dr Marie Morris Member 2.00 X 0 0 0 Todd Forkel Member 2.00 X 0 0 0 Dr Margaret Huber President 40.00 X 170477 0 23338 Cathy Hall VP for Finance 40.00 X 98082 0 25854 JoEllen Friederichsen VP for Enrollment 40.00 X 15500 0 3900 Bob Schuchardt VP for Student Services 40.00 X 78268 0 14918 Lori Harmel partial year VP for Advancement 40.00 X 66565 0 17758 Dr Michelle Metzinger VP for Academics 40.00 X 111341 0 25496 Stacy Levsen partial year VP for Mission 40.00 X 1200 0 0 Cynthia Whitney partial year VP for Advancement 40.00 X 62332 0 6836 603765 0 118100 2 0 1 0 0 61316 1021103 50307 1336780 60628 2469506 Student Tuition/Fees 611600 12201975 12201975 Auxiliary Enterprises 611710 1305878 1305878 36459 36459 13544312 574026 574026 7034553 7028734 5819 5819 5819 66657 61316 66657 0 335309 304603 30706 30706 16624369 13575018 0 579845 2629597 2629597 610327 279140 174382 156805 87923 87923 5275220 4899515 138106 237599 161302 141555 14887 4860 904358 827561 50967 25830 416142 368389 20590 27163 13363 3341 5345 4677 36720 36720 842324 833008 1122 8194 90285 88442 1843 1051932 879825 71866 100241 180623 180623 778399 778399 359050 340147 2613 16290 134388 120145 3942 10301 514567 514567 893937 893937 93227 93227 Direct Student Expense 203108 203108 Bad Debt Expense 179272 179272 Orientation 39343 39343 Commencement 13174 13174 81005 18678 3182 59145 15589586 14412916 523722 652948 953372 2271936 541265 168267 356546 160735 70220 84961 429405 414995 31217154 11098796 14423806 20118358 20103482 13902799 1093960 1025654 80384 67016 38052440 38214721 2082057 1026254 450702 210248 13881106 13465370 76067 348251 90469 56312 589630 584324 17170031 15690759 X 8049165 9405711 5117951 5343878 7715293 7774373 20882409 22523962 38052440 38214721 X 1034783 621892 -15122 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 10682324 59080 1111204 269603 127973 11455032 9686521 78398 1349705 318400 113900 10682324 9679588 59983 266225 241275 78000 9686521 8819079 103728 1020356 263575 9679588 7916805 151734 1014070 263530 8819079 0.67870 0.32130 0 0 41868 41868 21327526 6776286 14551240 5227943 3681641 1546302 4619817 640869 3978948 20118358 Federal Student Loan Funds 381975 Annuities Payable 163544 Due to Presentation Convent 38805 584324 X 14987924 621892 -2629597 -2007705 16995629 -371260 -371260 16624369 13331249 371260 371260 12959989 2629597 2629597 15589586 Part IV, Line 2b: The College maintains student suite deposits as well as agency accounts for various student organizations and college chartered clubs. Part V, Line 4: The endowment funds are used for institutional scholarships and grants and support of college programs. Part X, Line 2: The College is organized as a South Dakota nonprofit corporation and has been recognized by the Internal Revenue Service (IRS) as exempt from federal income taxes under Section 501(a) of the Internal Revenue Code as an organization described in Section 501(c)(3), qualifies for the charitable contribution deduction under Section 170(b)(1)(A)(ii), and has been determined not to be a private foundation under Section 509(a). The College is annually required to file a Return of Organization Exempt from Income Tax (Form 990) with the IRS. In addition, the College is subject to income tax on net income that is derived from business activities that are unrelated to its exempt purposes. The College has determined it is not subject to unrelated business income tax and has not filed an Exempt Organization Business Income Tax Return (Form 990-T) with the IRS. The College believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The College would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. Part XI, Line 2d - Other Adjustments: Funded and Unfunded Scholarships and Grants -2,629,597. Part XI, Line 4b - Other Adjustments: Special Events Direct Expenses -66,657. Cost of Sales Expenses -304,603. Part XII, Line 2d - Other Adjustments: Cost of Sales Expenses 304,603. Special Events Direct Expenses 66,657. Part XII, Line 4b - Other Adjustments: Funded and Unfunded Scholarships and Grants 2,629,597. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Publicized in newspapers, college catalogs, and website. Schedule E, Part I, Line 6 Financial aid is received by the College from the US Department of Education and US Department of Health and Human Services based on students' eligibility for grants or loans. The College also receives an administrative cost allowance from the US Department of Education for the College's participation in the Pell, SEOG, and Workstudy programs. Black & White Ball 48865 15993 32872 4335 21389 1850 5298 Mardi Gras 34335 17396 16939 8001 5671 500 2767 3 44773 27927 16846 14076 2770 127973 61316 66657 26412 29830 2350 8065 66657 0 1 Scholarships and Grants for academic merit, financial need, and housing 564 2629597 Part I, Line 2: The College has established programs for each type of scholarship and awards funds according to the parameters of each program and as funding is available. The scholarships and grants are awarded to students to be used for educational expenses at the College including tuition, fees, and books. The awards are allocated directly to each student's account. X X 0 0 0 0 0 0 0 0 0 Dr Margaret Huber President 170477 0 0 0 0 0 8947 0 16529 0 195953 0 0 0 A City of Aberdeen 466000010 003252BJ1 2010-04-30 4401540 Refund the August 3, 1999 Issue 0 0 0 B Brown County South Dakota 466000011 115432AS5 2013-05-30 9979461 Construct New Student Housing and Wellness Center 0 0 0 A 685000 4401540 376250 88031 3937259 2010 1 0 1 1 B 245000 9979461 695722 162039 9121700 2013 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 A 0 B 0 Teresa Garafalo Daughter of Board Member Stacy Levsen 48223 Compensation and Benefits 0 Rob Garafalo Son-in-Law of Board Member Stacy Levsen 39700 Compensation and Benefits 0 X 1 50739 FMV X Recruiting Vo 3 9039 FMV X Athletes' Foo 3 850 FMV 0 0 1 0 Form 990, Part VI, Section A, line 6 Members of the College are the general officers of the Congregation of the Sisters of the Presentation of the Blessed Virgin Mary of Aberdeen, South Dakota as defined by the College's Articles of Incorporation. Form 990, Part VI, Section A, line 7a More than one-half of the board of trustees shall be members (and/or appointed representatives of members) of the Congregation of the Sisters of the Presentation of the Blessed Virgin Mary of Aberdeen, South Dakota. Form 990, Part VI, Section A, line 7b The following board of trustee decisions are subject to the Congregation of the Sisters of the Presentation of the Blessed Virgin Mary of Aberdeen, SD corporate board approval: (a) To determine the purpose and objectives of the institution(s) under the jurisdiction and control of the Members of the Corporation consistent with the purposes set forth in the Articles of Incorporation and with the activities permitted to be conducted or carried on by an organization exempt under Section 501(c)(3) of the Internal Revenue Code and Regulations as the same exist or as they may hereafter be amended, or by an organization, contributions to which are deductible, under Section 170(c)(2) of such Code and Regulations as the same exist or as they may hereafter be amended; and further consistent with the policy of the Corporation that the purposes and objectives of the institutions under the jurisdiction and control of the Members of the Corporation shall be to serve people without regard to the consideration of sex, color, race, creed, national origin, age, sexual orientation, or handicapped status; and further consistent with the Mission and philosophy of the Presentation Sisters for Presentation College. (b) To assign, refer, or delegate any authority whatsoever of the Members of the Corporation to any person or persons, provided however, that no assignment, referral, or delegation or authority by the Members of the Corporation shall preclude the Members from exercising the authority required to meet the responsibility for the conduct of the institutions under the jurisdiction and control of such Members; and provided further that the Members of the Corporation retain the right to rescind any such assignment, referral or delegation. (c) To amend the Articles of Incorporation or Bylaws of Presentation College as provided herein. (d) To select, appoint or remove the College President, upon appropriate consultation with the Board of Trustees. (e) To approve any Statement of Mission, Purpose or Philosophy of Presentation College. (f) To authorize the commencement of any legal action brought in the name of or on behalf of Presentation College. (g) To review and act upon written recommendations from the Board of Trustees regarding the establishment or deletion of a department or educational program. (h) To receive and act upon the annual budget as submitted by the Board of Trustees. (i) To provide guidelines for the safeguarding and investment of College funds and to approve plans for raising additional funds from sources outside the operating income. (j) To approve grant applications when matching funds are required. To receive and act upon recommendations from the Board of Trustees regarding any single major expenditure exceeding $25,000 or an aggregate total of$50,000 or more, not included in the budget. To approve unbudgeted contractual agreements for purchases services over $25,000. (k) To appoint and approve such consultants as from time to time the Members of the Corporation may deem necessary. (1) To provide the physical plant; to approve all structural changes in and expansion of the physical plant and construction of new buildings. (m) To receive and act upon all acquisitions, transfers, encumbrances or alienations of property in accordance with Canon Law of the Roman Catholic Church. (n) To select, appoint or remove as members of the Board of Trustees of the College, members of the Congregation of the Sisters of the Presentation of the Blessed Virgin Mary of Aberdeen, South Dakota. (o) To remove any lay Trustee of the Board by a majority vote of the Members of the Corporation. Such removal shall be effective upon written notice to the removed member of the Board of Trustees. (p) To attend the annual meeting of the Board of Trustees. (q) To receive, in an expeditious manner, the agenda, exhibits and minutes of the meetings of the Board of Trustees or the committees thereof. Form 990, Part VI, Section A, line 8b Minutes are maintained for all committees however there are no committees with authority to act on behalf of the governing board. While an Executive Committee exists, their responsibilities are advisory in nature. Form 990, Part VI, Section B, line 11 Upon receipt of the completed return, the CFO reviews the return with the President. Copies are also forwarded to all members of the Finance & Investment Committee of the Board of Trustees for review. The CFO reviews the tax return with them at the first meeting following completion of the return. Form 990, Part VI, Section B, line 12c The board members are required to disclose at every board meeting any conflicts. A statement is handed out prior to each board meeting and must complete with any elements that could be a potential conflict of interest. This becomes part of the permanent board proceeding record. Form 990, Part VI, Section B, line 15 President - Comparison with regional salaries of similar college presidents and based on performance. Performance review is done annually. For the College administrators, including the CFO, salaries are determined by the President based on market comparables for institutions of similar size and nature. Salaries are part of the budget, which is approved by the board of trustees. Market comparisons are performed annually. Form 990, Part VI, Section C, line 19 These documents are not available to the general public. Form 990, Part XI, line 9: Transfer within Net Assets - Annuity Payments -19,313. Change in Split-Interest Agreements 4,191. Sisters of the Presentation of Blessed Virgin Mary 1500 N 2nd street Aberdeen SD 57401 460253283 Sisters of the PBVM is the College's sponsor organization SD 501(c)(3) Line 1 N/A 0 0 0 1 0 0 0 0 0 0 0 1 0 0 1 0 1 1 0 0