2025-10-23T10:38:44-05:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP 121 SOUTH TEJON STREET SUITE 1100 COLORADO SPRINGS CO 80903 990 2024-07-01 410693856 DUNWOODY COLLEGE OF TECHNOLOGY DUNW 6123745800 818 DUNWOODY BOULEVARD MINNEAPOLIS MN 55403 JEFF WILHELMI CFO 6123745800 2025-10-22 1 0 SARAH HINTZ P00492291 7196350330 2025-10-22 2024 2025-03-06 01:10:19Z JEFF WILHELMI 818 DUNWOODY BOULEVARD MINNEAPOLIS MN 55403 55974045 0 X WWW.DUNWOODY.EDU X 1914 MN DUNWOODY OFFERS ONE, TWO, AND FOUR YEAR DEGREES THAT LEAD TO IMMEDIATE JOBS AND GREAT CAREERS. 26 25 405 601 0 0 15924754 10646872 35232924 39767640 3437788 4802842 180673 213562 54776139 55430916 4253238 4857764 0 0 22355203 24720250 94024 119285 2254225 15837950 18542834 42540415 48240133 12235724 7190783 123800611 136970758 8409914 11422417 115390697 125548341 X DUNWOODY COLLEGE 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 35131017 4857764 39767640 SEE SCHEDULE OFOUNDED IN 1914, DUNWOODY COLLEGE OF TECHNOLOGY IS THE ONLY PRIVATE, NOT-FOR-PROFIT TECHNICAL COLLEGE IN THE UPPER MIDWEST. HAVING PROVIDED HANDS-ON, APPLIED TECHNICAL EDUCATION TO MORE THAN 250,000 INDIVIDUALS, DUNWOODY IS THE COLLEGE FOR EXPERIMENTERS AND MAKERS, A PLACE WHERE THE CURIOUS AND THE CONFIDENT LEARN BY DOING. LOCATED IN MINNEAPOLIS, DUNWOODY OFFERS A UNIQUE CAMPUS EXPERIENCE IN DEDICATED LABS, STUDIOS, AND SHOPS THAT WHERE STUDENTS ARE TREATED LIKE FUTURE PROFESSIONALS FROM DAY ONE. DUNWOODY CHALLENGES STUDENTS TO COME DETERMINED AND GRADUATE DESTINED.DUNWOODY IS ACCREDITED BY THE HIGHER LEARNING COMMISSION, AN INSTITUTIONAL ACCREDITATION AGENCY RECOGNIZED BY THE U.S. DEPARTMENT OF EDUCATION. THE COMMISSION'S WEB ADDRESS AND PHONE NUMBER ARE : WWW.HLCCOMMISSION.ORG AND 312-263-0456.DUNWOODY IS COMMITTED TO PREPARING STUDENTS FOR GREAT CAREERS IN HIGH-DEMAND, STEM-RELATED FIELDS. SINCE ITS FOUNDING 111 YEARS AGO, DUNWOODY'S GRADUATES 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 40 DEGREE PROGRAMS IN THE AREAS OF AUTOMOTIVE, BUSINESS MANAGEMENT, COMPUTER TECHNOLOGY, CONSTRUCTION SCIENCES & BUILDING TECHNOLOGY, ARCHITECTURE, DESIGN, ENGINEERING, RADIOLOGIC TECHNOLOGY, AND ROBOTICS & MANUFACTURING.INSTRUCTION AT DUNWOODY IS STRUCTURED ON A 16-WEEK SEMESTER. AN ACADEMIC YEAR INCLUDES TWO 16-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 2025, DUNWOODY HAD AN ENROLLMENT OF 1,584 STUDENTS. FOR THE 2023-2024 ACADEMIC YEAR, DUNWOODY CAREER SERVICES REPORTS A CAREER OUTCOME RATE OF 96 PERCENT AND AN IN-FIELD HIRED RATE OF 90 PERCENT. 35131017 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 1 2280 0 1 405 1 0 0 0 0 0 1 1 0 0 0 1 0 0 0 X 26 25 0 0 1 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MN X JEFF WILHELMI 6123745800 818 DUNWOODY BLVD MINNEAPOLIS MN 55403 SCOTT STALLMAN PRESIDENT 40.00 X X 250941 0 17605 RICHARD WAGNER PRESIDENT EMERITUS 40.00 X 372435 0 83038 BRIAN NELSON VP OF INSTITUTIONAL ADVANCEMENT 40.00 X 199435 0 34805 CINDY OLSON VP OF ENROLLMENT MANAGEMENT 40.00 X 172758 0 33364 PATRICIA EDMAN VP OF HUMAN RESOURCES 40.00 X 181942 0 17334 POLLY FRIENDSHUH ASSOCIATE PROFESSOR 40.00 X 129592 0 31553 JULIE E MCFADDEN DIRECTOR, COMPUTER TECHNOLOGY 40.00 X 179269 0 14246 JEFF WILHELMI CFO 40.00 X 170250 0 8324 MARK ANDERSON CHIEF TECHNOLOGY OFFICER 40.00 X 148059 0 33082 ANTHONY T BULLEN ACADEMIC DEAN 40.00 X 160416 0 17197 EVERETTE DAIGLE ACADEMIC DEAN 40.00 X 147647 0 16775 KIMBERLY A RANDOLPH BOARD CHAIR 1.00 X X 0 0 0 JULIE A OWEN VICE CHAIR & SECRETARY OF THE BOARD 1.00 X X 0 0 0 CINDY W ROBIN SECRETARY OF THE BOARD (THRU 10/2024) 1.00 X X 0 0 0 THEODORE J CHRISTIANSON TREASURER OF THE BOARD 1.00 X X 0 0 0 BERNARD P ALDRICH TRUSTEE (THRU 2/2025) 1.00 X 0 0 0 JERRY ANDERSON TRUSTEE 1.00 X 0 0 0 BARBARA BALINSKI TRUSTEE 1.00 X 0 0 0 ROBERT BODOR TRUSTEE 1.00 X 0 0 0 DEREK CLARKIN TRUSTEE 1.00 X 0 0 0 HUTCHINS B COBURN TRUSTEE 1.00 X 0 0 0 NANCY M DAHL TRUSTEE 1.00 X 0 0 0 JAMES D ENGELSMA TRUSTEE 1.00 X 0 0 0 CLAIRE M FERRARA TRUSTEE 1.00 X 0 0 0 LAURA K GRAF TRUSTEE (THRU 9/2024) 1.00 X 0 0 0 ANDREW R HECKER TRUSTEE 1.00 X 0 0 0 KATHERINE HOLMAN TRUSTEE 1.00 X 0 0 0 KAREN A ISAACSON TRUSTEE 1.00 X 0 0 0 THOMAS M KIEFFER TRUSTEE 1.00 X 0 0 0 VELMA J KORBEL TRUSTEE 1.00 X 0 0 0 DAVID M LYMAN TRUSTEE 1.00 X 0 0 0 WILLIAM J MATEIKIS TRUSTEE 1.00 X 0 0 0 BONNIE S MCGRATH TRUSTEE 1.00 X 0 0 0 DALE A NORDQUIST TRUSTEE 1.00 X 0 0 0 JON L REISSNER TRUSTEE 1.00 X 0 0 0 JEFFREY S SCHIPPER TRUSTEE 1.00 X 0 0 0 HILLERY SHAY TRUSTEE 1.00 X 0 0 0 MARK G SHERRY TRUSTEE 1.00 X 0 0 0 STEVEN A SONNENBERG TRUSTEE 1.00 X 0 0 0 GREGG E STEDRONSKY TRUSTEE (THRU 10/2024) 1.00 X 0 0 0 MAUREEN A THOLEN TRUSTEE 1.00 X 0 0 0 2112744 0 307323 39 0 1 0 MA MORTENSON COMPANY 700 MEADOW LANE NORTH MINNEAPOLIS MN 55422 CONSTRUCTION 1513539 NORTHLAND MECHANICAL 9001 SCIENCE CENTER DRIVE NEW HOPE MN 55428 HVAC 591470 PERISCOPE 921 WASHINGTON AVE SOUTH MINNEAPOLIS MN 55415 MARKETING/ADVERTISING 587294 MODERN CLEANING 822 15TH AVE NORTH SOUTH ST PAUL MN 55075 CLEANING SERVICES 531949 UNIVERSAL PROTECTION SERVICE 1395 UNIVERSITY BLVD JUPITER FL 33458 SECURITY 486623 20 90710 433018 291221 9831923 154407 10646872 TUITION & RELATED INC. 611600 39635019 39635019 OTHER PROGRAM REVENUE 611710 132621 132621 39767640 4021936 4021936 485907 249660 236247 236247 236247 1022600 240116 1578 782484 -1578 780906 780906 29090 90710 51775 -22685 -22685 55430916 39767640 0 5016404 4857764 4857764 1486673 421839 693450 371384 18291916 15189117 2239423 863376 409112 409112 3053219 1910517 1009026 133676 1479330 1177186 216918 85226 212606 104925 107681 122200 122200 6000 6000 119285 119285 495327 495327 951076 149019 785396 16661 1800591 1531505 10338 258748 3328880 1941425 1258428 129027 1991944 631801 1305302 54841 3619695 3161221 428020 30454 232902 188023 23123 21756 715833 222183 474465 19185 3646139 3288389 331180 26570 BAD DEBT EXPENSE 858371 858371 MEALS & ENTERTAINMENT 476283 271116 81131 124036 84987 84987 48240133 35131017 10854891 2254225 18216375 19186387 2322 40 1519048 4171277 469023 836532 927219 1803064 84431931 46728587 35615431 37703344 56802108 62420800 10249085 10849314 123800611 136970758 3666269 5034190 431330 465487 2981563 3682302 1330752 2240438 8409914 11422417 X 48693033 51052515 66697664 74495826 115390697 125548341 123800611 136970758 X 7190783 3524689 -557828 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 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. 61319282 1349166 6003449 115283 483843 68072771 51031834 4793079 6146662 156350 495943 61319282 34574737 14102498 3154439 799840 51031834 29277919 10114443 -4016108 801517 34574737 24533032 360684 4930188 545985 29277919 0.17800 0.57200 0.25000 0 0 2874647 2874647 53368115 26856911 26511204 26911117 19871676 7039441 1278052 1278052 37703344 BENEFICIAL INTEREST IN PERPETUAL TRUST 9832021 F SPLIT-INTEREST AGREEMENTS 1017293 F 10849314 ANNUITY OBLIGATIONS 47768 ENVIRONMENTAL REMEDIATION 423127 CAPITAL LEASES 1769543 2240438 X 55557183 3524689 2209484 -557828 5176345 50380838 495327 4554751 5050078 55430916 45399539 2209484 2209484 43190055 495327 4554751 5050078 48240133 PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO PROVIDE SCHOLARSHIPS AND TO FUND COLLEGE OPERATIONS. PART X, LINE 2: 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. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF BENEFICIAL TRUST -557,828. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 4,857,764. LOSS ON DISPOSAL OF FIXED ASSETS -1,578. SPECIAL EVENTS EXPENSES -51,775. RENTAL INCOME EXPENSES -249,660. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 4,857,764. SPECIAL EVENTS EXPENSES -51,775. LOSS OF DISPOSAL OF FIXED ASSETS -1,578. RENTAL INCOME EXPENSES -249,660. 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. THIS INFORMATION CAN ALSO BE FOUND ON DUNWOODY'S HOMEPAGE SO AS TO MAKE ITS NONDISCRIMINATORY POLICY ACCESSIBLE TO THE COMMUNITY IT SERVES. 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. X X X X X X X 1 BENTZ WHALEY 7900 XERXES AVE S STE 980 MINNEAPOLIS MN 55431 CAMPAIGN FUNDRAISING CONSULTANT 0 9825845 88901 9736944 KAUL CONSULTING LLC 3466 ST CROIX TRL S AFTON MN 55001 GRANT WRITING 0 1627949 30384 1597565 11453794 119285 11334509 AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY KATE DUNWOODY LUNCHEON 71500 62060 9440 8000 11983 1917 GOLF FUNDRAISER 48300 28650 19650 2054 15558 11284 979 119800 90710 29090 2054 23558 23267 2896 51775 -22685 1 SCHOLARSHIP AWARDS 741 4857764 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 AUTOMATICALLY BY COMPLETING THEIR FAFSA STARTING THE SPRING SEMESTER OF THE PREVIOUS SCHOOL YEAR. ALL SCHOLARSHIP CRITERIA IS PROVIDED TO FINANCIAL AID AND AWARDS ARE MADE BASED ON FINANCIAL NEED AND DATE SUBMITTED. STUDENTS ARE NOTIFIED BY THE FINANCIAL AID OFFICE OF THEIR AWARDS WHICH THEN BECOME PART OF THEIR FINANCIAL AID PACKAGE. SCHOLARSHIPS ARE DISBURSED TO THE STUDENT ACCOUNT AS A CREDIT ON A SEMIANNUAL BASIS WHICH REDUCES THEIR TUITION. SOMETIMES STUDENTS ARE REQUIRED TO WRITE THANK YOU NOTES TO DONORS OF SCHOLARSHIPS OR ATTEND DONOR EVENTS SHOWING THEIR APPRECIATION. IF A THANK YOU NOTE IS REQUIRED AND NOT WRITTEN, THE STUDENT DOES NOT RECEIVE THE SCHOLARSHIP. SCHOLARSHIPS ARE MONITORED BY THE FINANCIAL AID OFFICE. X X 1 1 X X X 0 1 0 0 0 1 0 0 0 SCOTT STALLMAN PRESIDENT 230990 0 19951 0 0 0 5384 0 12221 0 268546 0 0 0 RICHARD WAGNER PRESIDENT EMERITUS 245721 0 122670 0 4044 0 69476 0 13562 0 455473 0 0 0 BRIAN NELSON VP OF INSTITUTIONAL ADVANCEMENT 180190 0 19245 0 0 0 5888 0 28917 0 234240 0 0 0 CINDY OLSON VP OF ENROLLMENT MANAGEMENT 156204 0 16554 0 0 0 5073 0 28291 0 206122 0 0 0 PATRICIA EDMAN VP OF HUMAN RESOURCES 165683 0 16259 0 0 0 5162 0 12172 0 199276 0 0 0 POLLY FRIENDSHUH ASSOCIATE PROFESSOR 129592 0 0 0 0 0 4281 0 27272 0 161145 0 0 0 JULIE E MCFADDEN DIRECTOR, COMPUTER TECHNOLOGY 179269 0 0 0 0 0 5534 0 8712 0 193515 0 0 0 JEFF WILHELMI CFO 170250 0 0 0 0 0 5178 0 3146 0 178574 0 0 0 MARK ANDERSON CHIEF TECHNOLOGY OFFICER 148059 0 0 0 0 0 4791 0 28291 0 181141 0 0 0 ANTHONY T BULLEN ACADEMIC DEAN 160416 0 0 0 0 0 4980 0 12217 0 177613 0 0 0 EVERETTE DAIGLE ACADEMIC DEAN 147647 0 0 0 0 0 4610 0 12165 0 164422 0 0 0 PART I, LINE 1A COMPANION TRAVEL WAS FOR A BONA FIDE BUSINESS PURPOSE AND BENEFITTED THE COLLEGE. THE PRESIDENT'S WIFE, JEN, TRAVELED TO ARIZONA TO ATTEND THE ANNUAL ALUMNI EVENT WHICH BENEFITTED THE COLLEGE. FIRST CLASS TRAVEL WAS FOR A BONA FIDE BUSINESS PURPOSE AND BENEFITTED THE COLLEGE. THESE BENEFITS WERE EXCLUDED FROM THE PRESIDENT EMERITUS'S TAXABLE COMPENSATION. PART I, LINE 4B $60,599 WAS CONTRIBUTED TO RICHARD WAGNER'S 457(F) PLAN AND WAS NOT DISTRIBUTED IN 2024. PER THE TERMS OF HIS PLAN, IT WILL BE FULLY VESTED IN 2025. PART I, LINE 6 THE BOARD HAS ELECTED TO PROVIDE A SHORT TERM INCENTIVE PLAN AS PART OF THE CABINET'S COMPENSATION AND BENEFITS PACKAGE. ITS PURPOSE IS TO CREATE A CLEAR LINE OF SIGHT BETWEEN INDIVIDUAL AND ORGANIZATIONAL GOALS AND THE ATTAINMENT OF AGREED UPON FINANCIAL METRICS. X 7 27516 FAIR MARKET VALUE X 3 66212 STOCK MARKET QUOTES X VARIOUS EQUIPMENT 9 60679 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): COLUMN (B) REPORTS THE NUMBER OF ITEMS DONATED. FORM 990, PART III, LINE 2 IN FALL 2024, DUNWOODY COLLEGE EXPANDED ITS PSEO OFFERINGS WITH ITS NEW ENGINEERING NOW! PROGRAM. HIGH SCHOOL STUDENTS ACCEPTED INTO THE PROGRAM ATTEND DUNWOODY FULL-TIME AND EARN BOTH HIGH SCHOOL AND COLLEGE CREDIT. FORM 990, PART VI, SECTION A, LINE 1A 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 A, LINE 4 CHANGES TO BYLAWS: 1. SECTION NUMBERING. WE'VE RENUMBERED THE SECTIONS FOR EASE OF REFERENCE. 2. SECTION 3.2. WE'VE CLARIFIED THAT THE MINIMUM NUMBER OF TRUSTEES (10) IS REQUIRED BY DUNWOODY'S ARTICLES OF INCORPORATION, AND THAT THE BOARD'S AUTHORITY TO INCREASE OR DECREASE THE NUMBER OF TRUSTEES ON THE BOARD AT ANY GIVEN TIME IS SUBJECT TO NOT GOING BELOW THAT MINIMUM. 3. SECTION 3.5. WE'VE CHANGED LANGUAGE TO MAINTAIN THE STAGGERED TERMS OF TRUSTEES WITHOUT REFERRING TO PARTICULAR DATES. ANY NEW TRUSTEE MAY BE ELECTED FOR AN INITIAL TERM OF 1, 2, OR 3 YEARS TO ENSURE NO MORE THAN ABOUT ONE-THIRD OF TRUSTEES' TERMS EXPIRE SIMULTANEOUSLY. AFTER THE INITIAL TERM, EACH TRUSTEE IS ELIGIBLE TO BE RE-ELECTED TO A FULL 3-YEAR TERM. ANY TRUNCATED TERM (LESS THAN 3 YEARS) DOES NOT COUNT WHEN CALCULATING TERM LIMITS. 4. ARTICLE V. THE SMALL CHANGES TO SECTIONS 5.1 AND 5.2 ARE PRIMARILY TO CLARIFY THAT THE PRESIDENT IS NOT A BOARD OFFICER, BUT IS INSTEAD AN OPERATING OFFICER OR STAFF OFFICER WHO IS HIRED, NOT "ELECTED" IN THE SAME SENSE AS THE CHAIR, VICE CHAIR, SECRETARY, AND TREASURER ARE ELECTED. FOR THE SAME REASON, WE'VE MOVED THE DESCRIPTION OF DUTIES FOR THE PRESIDENT TO THE END OF THE LIST OF OFFICERS WHEN IT IS PRESENTED BETWEEN THE CHAIR AND THE VICE CHAIR, THE SUGGESTION IS THAT, LIKE THE CHAIR AND VICE CHAIR, THE PRESIDENT IS A BOARD OFFICER. WE'VE DELETED OLD SECTION 3 ("OTHER OFFICERS") BECAUSE IT IS REDUNDANT WITH THE PROVISIONS IN SECTION 5.1. SIMILARLY, WE HAVE DELETED OLD SECTION 5 ("TERM OF OFFICE") BECAUSE IT IS REDUNDANT WITH THE PROVISIONS IN SECTION 5.2. FORM 990, PART VI, SECTION B, LINE 11B INFORMATION FOR THE FORM 990 IS COMPILED BY COLLEGE PERSONNEL INCLUDING THE EXECUTIVE DIRECTOR OF MARKETING, DIRECTOR OF FINANCIAL AID, THE CHIEF OF STAFF AND THE VICE PRESIDENT OF HUMAN RESOURCES AMONG OTHERS AND SUBMITTED TO THE COLLEGE AUDIT FIRM, WHO PREPARES A DRAFT OF THE FORM. THIS DRAFT IS REVIEWED BY THE COLLEGE'S CONTROLLER, CFO, AND THE VP OF ADVANCEMENT. ONCE A FINAL DRAFT OF THE FORM (WITH SCHEDULE B INFORMATION REDACTED) IS READY, EACH MEMBER OF THE AUDIT COMMITTEE IS SENT A COPY AND WILL BE OPEN FOR REVIEW BY THE FULL BOARD FOR AFFIRMATION OF THE AUDIT COMMITTEE'S APPROVAL. 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 15 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 JANUARY 2024. 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 AUGUST 2024. THE MINUTES FOR THE EXECUTIVE COMMITTEE DOCUMENT THE COMPENSATION REVIEW PROCESS FOR THE PRESIDENT'S SALARY INCREASE. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL TRUST -557,828. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. 712 ONTARIO LLC 818 DUNWOODY BOULEVARD MINNEAPOLIS MN 55403 883354717 712 ONTARIO BUILDING PROPERTY MANAGEMENT MN 132043 3798609 DUNWOODY COLLEGE OF TECHNOLOGY KATE L DUNWOODY TRUST PO BOX 64713 ST PAUL MN 55164 416014903 PERPETUAL TRUST MN 501(C)(3) PF N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0