2014-10-14T10:38:31-05:00 2014-03-31 411360831 OLSEN THIELEN & CO LTD 2675 LONG LAKE ROAD ST PAUL MN 55113 990 2013-04-01 363358852 MINNESOTA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS EDUCATION FUND MINN 9528312707 1650 WEST 82ND STREET NO 600 BLOOMINGTON MN 55431 BETSY ADRIAN PRESIDENT 9528312707 2014-09-26 1 LINDA M NELSON P00205567 6514834521 2013 2015-11-30 17:44:51Z BETSY ADRIAN 1650 WEST 82ND STREET NO 600 BLOOMINGTON MN 55431 3644 0 X WWW.MNCPA.ORG X 1984 MN THE MINNESOTA SOCIETY OF CPAS EDUCATION FUND IS OPERATED EXCLUSIVELY TO ENGAGE IN, ADVANCE, SUPPORT AND ADMINISTER CHARITABLE AND EDUCATIONAL ACTIVITIES, CAUSES, AND PROJECTS. 5 5 0 5 0 0 7010 1970 0 0 4151 1674 0 0 11161 3644 60500 713700 0 0 0 0 0 0 0 11497 4673 71997 718373 -60836 -714729 742545 714456 27000 713700 715545 756 X THE MINNESOTA SOCIETY OF CPAS EDUCATION FUND IS OPERATED EXCLUSIVELY TO ENGAGE IN, ADVANCE, SUPPORT AND ADMINISTER CHARITABLE AND EDUCATIONAL ACTIVITIES, CAUSES, AND PROJECTS. 0 1 713757 713700 0 GRANTED $713,700 TO 15 INSTITUTIONS OF HIGHER LEARNING IN MINNESOTA TO ESTABLISH ENDOWED SCHOLARSHIP FUNDS. THE FUNDS WILL GENERATE ANNUAL SCHOLARSHIPS FOR DISTRIBUTION TO ACCOUNTING STUDENTS MEETING ESTABLISHED CRITERIA. 713757 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X X FAYE HAYHURST 9528312707 1650 W 82ND STREET SUITE 600 BLOOMINGTON MN 55431 X JOHN EDSON CHAIR 2.00 0.00 X X 0 0 0 ELAINE HANSEN TREASURER 2.00 0.00 X X 0 0 0 NANCY HEIMER BOARD MEMBER 2.00 0.00 X 0 0 0 MELANIE MOGG BOARD MEMBER 2.00 2.00 X 0 0 0 JENNIFER CARLSON BOARD MEMBER 2.00 2.00 X 0 0 0 BETSY ADRIAN PRESIDENT 0.00 40.00 X 0 219229 36283 FAYE HAYHURST DIRECTOR OF FINANCE 0.00 40.00 X 0 95210 30482 BARBARA WENTE DIRECTOR OF EDUCATION 0.00 40.00 X 0 112433 26008 LINDA WEDUL DIRECTOR-MEMBER RELATIONS 0.00 40.00 X 0 114528 28634 GENO FRAGNITO DIRECTOR-GOVERNMENT RELATIONS 0.00 40.00 X 0 100266 17813 0 641666 139220 0 0 1 0 0 1970 1970 1674 1674 3644 0 0 1674 713700 713700 375 375 3500 3500 150 150 MISCELLANEOUS EXPENSE 641 50 591 POSTAGE 7 7 718373 713757 4616 0 12124 23455 691657 691001 1581 0 836 0 34954 0 1393 0 742545 714456 27000 713700 27000 713700 X 715545 756 715545 756 742545 714456 -714729 -60 0 X X 0 1 X 1 0 X X X 0 0 0 MN SOCIETY OF CPAS 410783480 501(C)(6) 1 1 1 0 1 0 0 X 3584 -60 -60 3644 0 3644 718373 0 718373 0 718373 PART X, LINE 2: ASC 740 DISCLOSURE FROM AUDITED FINANCIAL STATEMENTS: THE MINNESOTA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS EDUCATION FUND IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE EDUCATION FUND ALSO QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER APPLICABLE STATUTES OF THE STATE OF MINNESOTA. THE SOCIETY REVIEWS INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN INCOME TAX RETURNS TO DETERMINE IF THERE ARE ANY INCOME TAX UNCERTAINTIES. THIS INCLUDES POSITIONS THAT THE ENTITY IS EXEMPT FROM INCOME TAXES OR NOT SUBJECT TO INCOME TAXES ON UNRELATED BUSINESS INCOME. THE SOCIETY RECOGNIZES TAX BENEFITS FROM UNCERTAIN TAX POSITIONS ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITIONS WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES. THE SOCIETY HAS IDENTIFIED NO SIGNIFICANT INCOME TAX UNCERTAINTIES. THE SOCIETY IS OPEN TO EXAMINATION FOR TAX YEARS 2011 THROUGH 2013. 1 AUGSBURG COLLEGE 2211 RIVERSIDE AVE MINNEAPOLIS MN 55454 410694721 501(C)(3) 27450 ESTABLISHMENT OF SCHOLARSHIP ENDOWMENT BEMIDJI STATE UNIVERSITY FOUNDATION 1500 BIRCHMONT DR NE 17 BEMIDJI MN 56601 237044156 501(C)(3) 27450 ESTABLISHMENT OF SCHOLARSHIP ENDOWMENT COLLEGE OF ST BENEDICT 37 S COLLEGE AVE ST JOSEPH MN 56374 410969244 501(C)(3) 27450 ESTABLISHMENT OF SCHOLARSHIP ENDOWMENT COLLEGE OF ST SCHOLASTICA 1200 KENWOOD AVE DULUTH MN 55811 410698301 501(C)(3) 27450 ESTABLISHMENT OF SCHOLARSHIP ENDOWMENT CONCORDIA COLLEGE - MOORHEAD 901 8TH ST SOUTH MOORHEAD MN 56562 410693977 501(C)(3) 27450 ESTABLISHMENT OF SCHOLARSHIP ENDOWMENT GUSTAVUS ADOLPHUS COLLEGE 800 WEST COLLEGE AVENUE ST PETER MN 56082 410695524 501(C)(3) 27450 ESTABLISHMENT OF SCHOLARSHIP ENDOWMENT METROPOLITAN STATE UNIVERSITY FOUNDATION 700 EAST SEVENTH STREET ST PAUL MN 55106 237296162 501(C)(3) 54900 ESTABLISHMENT OF SCHOLARSHIP ENDOWMENT MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION INC 121 ALUMNI FOUNDATION CENTER MANKATO MN 56001 416033423 501(C)(3) 82350 ESTABLISHMENT OF SCHOLARSHIP ENDOWMENT MINNESOTA STATE UNIVERSITY MOORHEAD ALUMNI FOUNDATION 203 OWENS HALL MOORHEAD MN 56563 237101061 501(C)(3) 54900 ESTABLISHMENT OF SCHOLARSHIP ENDOWMENT SAINT JOHN'S UNIVERSITY PO BOX 7222 COLLEGEVILLE MN 56321 453656162 501(C)(3) 54900 ESTABLISHMENT OF SCHOLARSHIP ENDOWMENT ST CLOUD STATE UNIVERSITY FOUNDATION 720 4TH AVE S ST CLOUD MN 56301 416019040 501(C)(3) 82350 ESTABLISHMENT OF SCHOLARSHIP ENDOWMENT UNIVERSITY OF MINNESOTA FOUNDATION CARLSON SCHOOL OF MANAGEMENT 321 19TH AVE S MINNEAPOLIS MN 55455 416042488 501(C)(3) 27450 ESTABLISHMENT OF SCHOLARSHIP ENDOWMENT UNIVERSITY OF MINNESOTA FOUNDATION 315 DARLAND ADMINISTRATION BUILDING 1049 UNIVERSITY DR DULUTH MN 55812 416042488 501(C)(3) 82350 ESTABLISHMENT OF SCHOLARSHIP ENDOWMENT UNIVERSITY OF ST THOMAS 2115 SUMMIT AVE ST PAUL MN 55105 410693970 501(C)(3) 82350 ESTABLISHMENT OF SCHOLARSHIP ENDOWMENT WINONA STATE UNIVERSITY FOUNDATION PO BOX 5838 WINONA MN 55987 237079002 501(C)(3) 27450 ESTABLISHMENT OF SCHOLARSHIP ENDOWMENT 15 0 PART I, LINE 2: DURING THE YEAR, THE ORGANIZATION APPROVED GRANTS TOTALLING $713,700 TO FIFTEEN INSTITUTIONS OF HIGHER LEARNING IN MINNESOTA TO ESTABLISH ENDOWED SCHOLARSHIP FUNDS AT THESE INSTITUTIONS. THE FUNDS WILL GENERATE ANNUAL SCHOLARSHIPS FOR DISTRIBUTION TO ACCOUNTING STUDENTS MEETING ESTABLISHED CRITERIA. X X 0 0 0 0 0 0 0 0 0 BETSY ADRIAN PRESIDENT 0 207229 0 12000 0 0 0 21191 0 15092 0 255512 0 0 CASH ENDOWMENT FOR SCHOLARSHIPS 2014-03-31 27450 CASH 410694721 AUGSBURG COLLEGE 2211 RIVERSIDE AVE MINNEAPOLIS MN 55454 501(C)(3) CASH ENDOWMENT FOR SCHOLARSHIPS 2014-03-31 27450 CASH 237044156 BEMIDJI STATE UNIVERSITY FOUNDATION 1500 BIRCHMONT DRIVE NE 17 BEMIDJI MN 56601 501(C)(3) CASH ENDOWMENT FOR SCHOLARSHIPS 2014-03-31 27450 CASH 410969244 COLLEGE OF ST BENEDICT 375 COLLEGE AVE ST JOSEPH MN 56374 501(C)(3) CASH ENDOWMENT FOR SCHOLARSHIPS 2014-03-31 27450 CASH 410698301 COLLEGE OF ST SCHOLASTICA 1200 KENWOOD AVE DULUTH MN 55811 501(C)(3) CASH ENDOWMENT FOR SCHOLARSHIPS 2014-03-31 27450 CASH 410693977 CONCORDIA COLLEGE - MOORHEAD 901 8TH ST S MOORHEAD MN 56562 501(C)(3) CASH ENDOWMENT FOR SCHOLARSHIPS 2014-03-31 27450 CASH 410695524 GUSTAVUS ADOLPHUS COLLEGE 800 WEST COLLEGE AVENUE ST PETER MN 56082 501(C)(3) CASH ENDOWMENT FOR SCHOLARSHIPS 2014-03-31 54900 CASH 237296162 METROPOLITAN STATE UNIVERSITY FOUNDATION 700 EAST SEVENTH STREET ST PAUL MN 55106 501(C)(3) CASH ENDOWMENT FOR SCHOLARSHIPS 2014-03-31 82350 CASH 416033423 MINNESOTA STATE UNIVERSITY MANKATO FOUNDATION INC 121 ALUMNI FOUNDATION CENTER MANKATO MN 56001 501(C)(3) CASH ENDOWMENT FOR SCHOLARSHIPS 2014-03-31 54900 CASH 237101061 MINNESOTA STATE UNIVERSITY MOORHEAD ALUMNI FOUNDATION 203 OWENS HALL MOORHEAD MN 56563 501(C)(3) CASH ENDOWMENT FOR SCHOLARSHIPS 2014-03-31 54900 CASH 453656162 SAINT JOHN'S UNIVERSITY PO BOX 7222 COLLEGEVILLE MN 56321 501(C)(3) CASH ENDOWMENT FOR SCHOLARSHIPS 2014-03-31 82350 CASH 416019040 ST CLOUD STATE UNIVERSITY FOUNDATION 720 4TH AVE S ST CLOUD MN 56301 501(C)(3) CASH ENDOWMENT FOR SCHOLARSHIPS 2014-03-31 27450 CASH 416042488 UNIVERSITY OF MINNESOTA FOUNDATION CARLSON SCHOOL OF MGMT 321 19 MINNEAPOLIS MN 55455 501(C)(3) CASH ENDOWMENT FOR SCHOLARSHIPS 2014-03-31 82350 CASH 416042488 UNIVERSITY OF MINNESOTA FOUNDATION 315 DARLAND ADMIN BLDG 1049 U DULUTH MN 55812 501(C)(3) CASH ENDOWMENT FOR SCHOLARSHIPS 2014-03-31 82350 CASH 410693970 UNIVERSITY OF ST THOMAS 2115 SUMMIT AVE ST PAUL MN 55105 501(C)(3) CASH ENDOWMENT FOR SCHOLARSHIPS 2014-03-31 27450 CASH 237079002 WINONA STATE UNIVERSITY FOUNDATION PO BOX 5838 WINONA MN 55987 501(C)(3) 0 0 0 0 SCHEDULE N, PART II: DURING THE YEAR, THE ORGANIZATION ENDED ITS PROGRAM OF AWARDING ANNUAL COLLEGE SCHOLARSHIP GRANTS. INSTEAD, THE ORGANIZATION APPROVED GRANTS TOTALLING $713,700 TO FIFTEEN INSTITUTIONS OF HIGHER LEARNING IN MINNESOTA TO ESTABLISH ENDOWED SCHOLARSHIP FUNDS AT THESE INSTITUTIONS. THE FUNDS WILL GENERATE ANNUAL SCHOLARSHIPS FOR DISTRIBUTION TO ACCOUNTING STUDENTS MEETING ESTABLISHED CRITERIA. THESE GRANTS CONSTITUTED SUBSTANTIALLY ALL OF THE ORGANIZATION'S NET ASSETS. FORM 990, PART III, LINE 3 DURING THE YEAR THE ORGANIZATION DISCONTINUED ITS EDUCATIONAL ACTIVITIES AND ITS USUAL PROGRAM OF AWARDING ANNUAL COLLEGE SCHOLARSHIP GRANTS. INSTEAD, THE ORGANIZATION APPROVED GRANTS TOTALLING $713,700 TO FIFTEEN INSTITUTIONS OF HIGHER LEARNING IN MINNESOTA TO ESTABLISH ENDOWED SCHOLARSHIP FUNDS AT THESE INSTITUTIONS. THE FUNDS WILL GENERATE ANNUAL SCHOLARSHIPS FOR DISTRIBUTION TO ACCOUNTING STUDENTS MEETING ESTABLISHED CRITERIA. THESE GRANTS CONSTITUTED SUBSTANTIALLY ALL OF THE ORGANIZATION'S NET ASSETS. FORM 990, PART VI, SECTION A, LINE 7A THE DIRECTORS OF THE EDUCATION FUND ARE COMPOSED OF FIVE MEMBERS, TWO FROM THE BOARD OF DIRECTORS OF THE MINNESOTA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS (MNCPA), AND THREE WHO ARE MEMBERS OF THE MNCPA ELECTED BY THE BOARD OF THE MNCPA. THE PRESIDENT OF THE MNCPA SHALL SERVE AS AN EX OFFICIO MEMBER OF THE EDUCATION FUND BOARD WITHOUT VOTE. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS PREPARED BY THE ORGANIZATION'S AUDIT FIRM. THE RETURN IS REVIEWED IN DETAIL BY THE DIRECTOR OF FINANCE AND THE BOARD TREASURER. A COPY OF THE FILED RETURN IS DISTRIBUTED TO ALL BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS ARE REQUIRED TO DISCLOSE A CONFLICT OF INTEREST TO THE BOARD PRIOR TO THE TRANSACTION OR DECISION AFFECTED BY THE CONFLICT. AFTER DISCLOSURE, THE BOARD MEMBER IS ASKED TO LEAVE THE ROOM FOR THE DURATION OF THE DISCUSSION AND VOTE. BOARD MEMBERS ARE ALSO ASKED TO DISCLOSE ANY CONCERNS ABOUT THE APPEARANCE OF A CONFLICT OF INTEREST. THE BOARD CHAIR ANNUALLY REQUIRES EACH BOARD MEMBER TO SIGN A CONFLICT OF INTEREST STATEMENT. THE SIGNED STATEMENTS REMAIN ON FILE WITH THE ORGANIZATION'S PRESIDENT FOR THE FISCAL YEAR. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION DOES NOT HAVE ANY EMPLOYEES, BUT IS PROVIDED CERTAIN SERVICES BY EMPLOYEES OF ITS 501(C)(6) AFFILIATE. IF SUCH SERVICES EXCEED A DE MINIMIS AMOUNT, THE ORGANIZATION IS ALLOCATED A SHARE OF WAGE AND SALARY EXPENSE FROM THE AFFILIATE. NO EXPENSES WERE ALLOCATED FROM THE AFFILIATE IN 2013. FORM 990, PART VI, SECTION C, LINE 18 FORM 990 IS PUBLICLY AVAILABLE ON THE ORGANIZATION'S WEB SITE AT MNCPA.ORG. COPIES OF FORM 1023 AND FORM 990, ALONG WITH GOVERNING DOCUMENTS, ARE ALSO AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART VII, LINE 1: AVERAGE WEEKLY HOURS PRESIDENT BETSY ADRIAN: WEEKLY HOURS - 100% FOR THE MNCPA. DIRECTOR OF FINANCE FAYE HAYHURST: WEEKLY HOURS - 100% FOR THE MNCPA. DIRECTOR OF EDUCATION BARBARA WENTE: WEEKLY HOURS - 100% FOR THE MNCPA. DIRECTOR OF MEMBER RELATIONS AND MARKETING LINDA WEDUL: WEEKLY HOURS - 100% FOR THE MNCPA. VOLUNTEER OFFICERS AND DIRECTORS: HOURS ARE ESTIMATED AT 2 TO 5 HOURS PER WEEK FOR THE EDUCATION FUND AND MNCPA. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. MINNESOTA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS 1650 WEST 82ND STREET STE 600 BLOOMINGTON MN 55432 410783480 PROFESSIONAL MEMBERSHIP ORGANIZATION MN 501(C)(6) N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0