MINNEAPOLIS COLLEGE OF ART & DESIGN: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- MINNEAPOLIS COLLEGE OF ART & DESIGN (EIN 41-1607453)
- Tax period
- 2011-06-01 to 2012-05-31
- Filed
- 2013-04-12
- IRS object ID
- 201301039349300500
- Schema version
- 2011v1.5
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule F
- Schedule G
- Schedule I
- Schedule J
- Schedule K
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-04-12T11:53:29-05:00 | Timestamp |
| Tax Period End Date | 2012-05-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 390859910 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BAKER TILLY VIRCHOW KRAUSE LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 225 S 6TH ST STE 2300 | AddressLine1 |
| City | MINNEAPOLIS | City |
| State | MN | State |
| ZIP Code | 55402 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-06-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 411607453 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MINNEAPOLIS COLLEGE OF ART & DESIGN | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | MINN | NameControl |
| Phone | 6128743700 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2501 STEVENS AVE S | AddressLine1 |
| City | MINNEAPOLIS | City |
| State | MN | State |
| ZIP Code | 55404 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | PAM NEWSOME-PROCHNIAK | Name |
| Title | VICE PRESIDENT, ADMINISTRATION | Title |
| Phone | 6128743700 | Phone |
| Date Signed | 2013-04-10 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | LAWRENCE H MOHR CPA | Name |
| PTIN | P00447603 | PTIN |
| Phone | 6128764500 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-25 16:41:14Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | JAY COOGAN | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2501 STEVENS AVE S | AddressLine1 |
| City | MINNEAPOLIS | City |
| State | MN | State |
| ZIP Code | 55404 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 28398933 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.MCAD.EDU | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1988 | YearFormation |
| State Legal Domicile | MN | StateLegalDomicile |
| Activity Or Mission Description | THE MINNEAPOLIS COLLEGE OF ART & DESIGN'S (MCAD) MISSION STATEMENT IS: THE MCAD EDUCATES INDIVIDUALS TO BE PROFESSIONAL ARTISTS AND DESIGNERS, PIONEERING THINKERS, CREATIVE LEADERS, AND ENGAGED, GLOBAL CITIZENS. THE VISION IS: THE MCAD TRANSFORMS THE WORLD THROUGH CREATIVITY AND PURPOSE. THE VALUES ARE: WE, THE MCAD COMMUNITY, SHAPE OUR WORK AND OUR INTERACTIONS WITH OTHERS BY HONORING THE FOLLOWING VALUES: STUDENTS FIRST, ACADEMIC AND INSTITUTIONAL EXCELLENCE, CREATIVITY AND INNOVATION, COMMUNITY, AND ENGAGEMENT. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 18 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 18 | NbrIndependentVotingMembers |
| Total Nbr Employees | 910 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 1732156 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 4886175 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 22734995 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 21419644 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 987095 | InvestmentIncomePriorYear |
| Investment Income Current Year | 1023891 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 229212 | OtherRevenuePriorYear |
| Other Revenue Current Year | -73649 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 25683458 | TotalRevenuePriorYear |
| Total Revenue Current Year | 27256061 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 6070387 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 6113881 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 12283060 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 12684553 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 666954 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 8028227 | OtherExpensePriorYear |
| Other Expenses Current Year | 7168374 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 26381674 | TotalExpensesPriorYear |
| Total Expenses Current Year | 25966808 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -698216 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 1289253 | RevenuesLessExpensesCY |
| Total Assets BOY | 64192110 | TotalAssetsBOY |
| Total Assets EOY | 65435804 | TotalAssetsEOY |
| Total Liabilities BOY | 15812148 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 18794440 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 48379962 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 46641364 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | THE MINNEAPOLIS COLLEGE OF ART & DESIGN'S (MCAD) MISSION STATEMENT IS: THE MCAD EDUCATES INDIVIDUALS TO BE PROFESSIONAL ARTISTS AND DESIGNERS, PIONEERING THINKERS, CREATIVE LEADERS, AND ENGAGED, GLOBAL CITIZENS. THE VISION IS: THE MCAD TRANSFORMS THE WORLD THROUGH CREATIVITY AND PURPOSE. THE VALUES ARE: WE, THE MCAD COMMUNITY, SHAPE OUR WORK AND OUR INTERACTIONS WITH OTHERS BY HONORING THE FOLLOWING VALUES: STUDENTS FIRST, ACADEMIC AND INSTITUTIONAL EXCELLENCE, CREATIVITY AND INNOVATION, COMMUNITY, AND ENGAGEMENT. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 14160091 | Expense |
| Grants | 6065401 | Grants |
| Revenue | 19346213 | Revenue |
| Description | ACADEMIC AFFAIRS: - SUCCESSFUL FILING AND HLC FOCUSED SITE VISIT FOR NEW MA SUSTAINABILITY DESIGN AND INTERACTIVE DESIGN AND MARKETING CERTIFICATE PROGRAMS- DEVELOPED CREATIVE TECHNOLOGIES CERTIFICATE FOR EDUCATORS IN CONTINUING EDUCATION- SUCCESSFUL ACADEMIC PARTNERSHIP WITH ALLINA HEALTH, LEADING TO SPONSORED INTERNSHIPS AND CLASS SUPPORT- ART HISTORY MINOR DEVELOPED, WILL SERVE AS MODEL FOR FUTURE MINORS | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 2569978 | Expense |
| Revenue | 1169454 | Revenue |
| Description | STUDENT AFFAIRS:- ORIENTATION: 450+ PEOPLE ATTENDED THE MOVE-IN DINNER. 118 NEW UNDERGRADUATE STUDENTS AND 148 FAMILY MEMBERS ATTENDED FALL ORIENTATION.- COMMENCEMENT: DECEMBER CEREMONY-51 BFA AND 6 BS GRADUATES. MAY CEREMONY-102 BFA, 5 BS, AND 18 MFA GRADUATES.- A FINANCIAL LITERACY PROGRAM WAS DEVELOPED WITH STUDENT AFFAIRS, FINANCIAL AID AND THE BUSINESS OFFICE. - RECORDS WORKED WITH IT AND ONLINE LEARNING TO DEVELOP AN IMPLEMENT AN ONLINE GRADING SYSTEM. - INTERNATIONAL STUDY: 18 INTERNATIONAL DEGREE-SEEKING STUDENTS ATTENDED MCAD. FOUR EXCHANGE STUDENTS ATTENDED CLASSES. - COUNSELING: APPOINTMENTS TO SEE THE COUNSELOR WAS UP 31%. - WELLNESS: MCAD PARTNERED WITH WEST SUBURBAN TEEN CLINIC FOR A PRESENTATION ON SEXUAL HEALTH. THE EVENT ATTRACTED 70 STUDENTS. WE PLAN TO CONTINUE TO UTILIZE THEIR RESOURCES FOR ONGOING PRESENTATIONS.- STUDENT ACTIVITIES: THERE WERE OVER 50 EVENTS. ALSO, THERE WERE 38 REGISTERED STUDENT CLUBS. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 1751116 | Expense |
| Revenue | 374718 | Revenue |
| Description | ACADEMIC SUPPORT:- ACADEMIC SERVICES RECONFIGURED WHITTIER TO RESPOND TO INCREASE IN DESIGN STUDENTS' NEED AND COMPLETELY REDID NORTHRUP KING EXHIBITION SPACE FOR MFA THESIS SHOW- CAREER SERVICES MET A 25% INCREASE IN DEMAND FOR ONE-ON-ONE CAREER AND INTERNSHIP COUNSELING SESSIONS.- MCAD GALLERY LISTED 18 EXHIBITIONS, (ONE OFF-CAMPUS), OVERSAW NORTHERN SPARK ALL-NIGHT ARTS FESTIVAL 2011 AND 2012, AND ADMINISTERED THE JEROME AND MCKNIGHT FELLOWSHIPS AND EXHIBITIONS.- ONLINE LEARNING MOVED TO A NEW SERVER SYSTEM AND EXECUTED A BLACKBOARD UPGRADE. | Description |
Activity Other ActivityOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 4944747 | Expense |
| Revenue | 529259 | Revenue |
| Description | OTHER:- WE CONSTRUCTED NEW EXTERIOR MONUMENT AND DIRECTIONAL SIGNS FOR APPROXIMATELY $200,000- WE FINISHED THE FINAL PHASE OF THE MODERNIZATION OF THE ELEVATORS IN THE MAIN BUILDING FOR APPROXIMATELY $440,000- WE FINISHED THE MORRISON WATERPROOFING PROJECT FOR APPROXIMATELY $430,000- WE COMPLETED ROOF REPLACEMENTS AND TUCKPOINTING PROJECTS 2550 AND MORRISON AUDITORIUM FOR APPROXIMATELY $238,000- WE REMODELED THE AUDITORIUM 140 FOR APPROXIMATELY $30,000 | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Other Program Service Exp | 4944747 | TotalOfOtherProgramServiceExp |
| Total Of Other Program Service Rev | 529259 | TotalOfOtherProgramServiceRev |
| Total Program Service Expense | 23425932 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 1 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 1 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 1 | School |
| Foreign Office | 1 | ForeignOffice |
| Foreign Activities | 1 | ForeignActivities |
| More Than5000 K To Organizations | 1 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 1 | ProfessionalFundraising |
| Fundraising Activities | 1 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 1 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 1 | TaxExemptBonds |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBonds |
| Escrow Account | 0 | EscrowAccount |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 1 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 1 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 231 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 910 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 1 | QuidProQuoContributions |
| Quid Pro Quo Disclosure | 1 | QuidProQuoDisclosure |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 18 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 18 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 1 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 0 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 0 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | MN | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MARY YANG THAO | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 6128743700 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2501 STEVENS AVE S | AddressLine1 |
| City | MINNEAPOLIS | City |
| State | MN | State |
| ZIP Code | 55404 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (29 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation |
|---|---|---|---|---|---|---|
| JAY COOGAN | ||||||
| PRESIDENT | 35.00 | X | X | 273861 | 0 | 40926 |
| BRUCE BEAN | ||||||
| TRUSTEE, CHAIR | 1.00 | X | X | 0 | 0 | 0 |
| KEVIN BENNETT | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| LESLIE BERKSHIRE | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| URI CAMARENA | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| ANNE CASHILL | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| ANDREW DAYTON | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| MILES Q FITERMAN | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| JANET GROENERT | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| MARY ASH LAZARUS | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| B JOHN LINDAHL | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| MONICA LITTLE | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| MITZI MAGID | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| BETSY MASSIE | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| DAVID MOORE | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| CLINTON H MORRISON | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| HOWARD RUBIN | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| JULIE SNOW | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| ROBERT TESLOW | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| BILL THORBURN | ||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| CY DECOSSE | ||||||
| LIFE TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| CLINTON MORRISON | ||||||
| LIFE TRUSTEE | 1.00 | X | 0 | 0 | 0 | |
| PAMELA NEWSOME-PROCHNIAK | ||||||
| VP, ADMINISTRATION | 35.00 | X | 100391 | 0 | 15964 | |
| JOAN OLSON | ||||||
| VP, INSTITUTIONAL ADVANCEMENT | 35.00 | X | 152077 | 0 | 35103 | |
| DANIEL SJOQUIST | ||||||
| VP, FINANCE & CFO | 35.00 | X | 97058 | 0 | 15333 | |
| KAREN WIRTH | ||||||
| INTERIM VP, ACADEMIC AFFAIRS | 35.00 | X | 91199 | 0 | 15806 | |
| WILLIAM MULLEN | ||||||
| VP, ENROLLMENT | 35.00 | X | 85321 | 0 | 23870 | |
| SUSAN CALMENSON | ||||||
| VP, STUDENT AFFAIRS | 35.00 | X | 79067 | 0 | 12629 | |
| VINCENT LEO | ||||||
| VP, ACADEMIC AFFAIRS | 35.00 | X | 102897 | 0 | 15336 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 981871 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 174967 | TotalOtherCompensation |
| Number Individuals GT100 K | 4 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| JE DUNN | |||||
| 9855 W 78TH ST STE 270 | EDEN PRAIRIE | MN | 55344 | CONSTRUCTION MANAGEMENT SERVICES | 267377 |
| SCHUMACHER ELEVATOR COMPANY | |||||
| ONE SCHUMACHER WAY PO BOX 393 | DENVER | IA | 50622 | ELEVATOR SERVICING, REPAIR AND PARTS | 197027 |
| ALL SYSTEMS | |||||
| 8300 10TH AVE N STE A | MINNEAPOLIS | MN | 55427 | CABLING CONTRACTORS | 196101 |
| ARTHUR J GALLAGHER RISK MANAGEMENT SERVI | |||||
| 3600 AMERICAN BLVD STE 500 | BLOOMINGTON | MN | 55431 | PROPERTY/CASUALTY INSURANCE | 184790 |
| MINNEAPOLIS INSTITUTE OF ARTS | |||||
| 2400 3RD AVE S | MINNEAPOLIS | MN | 55404 | PHYSICAL PLANT SERVICES | 173033 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 7 | NumberOfContractorsGT100K |
| Fundraising Events | 233604 | FundraisingEvents |
| Government Grants | 120938 | GovernmentGrants |
| All Other Contributions | 4531633 | AllOtherContributions |
| Noncash Contributions | 95383 | NoncashContributions |
| Total Contributions | 4886175 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (4 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| TUITION AND FEES | 611710 | 19277457 | 19277457 |
| HOUSING RENTAL INCOME | 611710 | 1014314 | 1014314 |
| SALE OF OTHER SERVICES | 611710 | 599034 | 599034 |
| SALES BOOKSTORE | 611710 | 528839 | 528839 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 21419644 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 681566 | TotalRevenueColumn |
| Exclusion | $681,566 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 960818 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 618493 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 342325 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 342325 | TotalRevenueColumn |
| Exclusion | $342,325 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Income Fundraising Events | 450730 | GrossIncomeFundraisingEvents |
| Cntrbtns Rprtd Fundraising Events | 233604 | CntrbtnsRprtdFundraisingEvents |
| Fundraising Direct Expenses | 524379 | FundraisingDirectExpenses |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -73649 | TotalRevenueColumn |
| Exclusion | -$73,649 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 27256061 | TotalRevenueColumn |
| Related Or Exempt Function Income | 21419644 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $950,242 | ExclusionAmount |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 6065401 | Total |
| Program Services | 6065401 | ProgramServices |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 48480 | Total |
| Program Services | 48480 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1148711 | Total |
| Program Services | 1009351 | ProgramServices |
| Management And General | 99936 | ManagementAndGeneral |
| Fundraising | 39424 | Fundraising |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 9387355 | Total |
| Program Services | 8248495 | ProgramServices |
| Management And General | 816686 | ManagementAndGeneral |
| Fundraising | 322174 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 602534 | Total |
| Program Services | 529436 | ProgramServices |
| Management And General | 52419 | ManagementAndGeneral |
| Fundraising | 20679 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 813767 | Total |
| Program Services | 715041 | ProgramServices |
| Management And General | 70797 | ManagementAndGeneral |
| Fundraising | 27929 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 732186 | Total |
| Program Services | 643358 | ProgramServices |
| Management And General | 63699 | ManagementAndGeneral |
| Fundraising | 25129 | Fundraising |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 71071 | Total |
| Management And General | 71071 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 62029 | Total |
| Management And General | 62029 | ManagementAndGeneral |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 50146 | Total |
| Management And General | 50146 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 521371 | Total |
| Program Services | 458119 | ProgramServices |
| Management And General | 45359 | ManagementAndGeneral |
| Fundraising | 17893 | Fundraising |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 138076 | Total |
| Program Services | 121325 | ProgramServices |
| Management And General | 12012 | ManagementAndGeneral |
| Fundraising | 4739 | Fundraising |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 981719 | Total |
| Program Services | 862618 | ProgramServices |
| Management And General | 85408 | ManagementAndGeneral |
| Fundraising | 33693 | Fundraising |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 911228 | Total |
| Program Services | 800679 | ProgramServices |
| Management And General | 79276 | ManagementAndGeneral |
| Fundraising | 31273 | Fundraising |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 781439 | Total |
| Program Services | 686636 | ProgramServices |
| Management And General | 67984 | ManagementAndGeneral |
| Fundraising | 26819 | Fundraising |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 162408 | Total |
| Program Services | 142705 | ProgramServices |
| Management And General | 14129 | ManagementAndGeneral |
| Fundraising | 5574 | Fundraising |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 225246 | Total |
| Program Services | 197920 | ProgramServices |
| Management And General | 19596 | ManagementAndGeneral |
| Fundraising | 7730 | Fundraising |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 645481 | Total |
| Program Services | 567172 | ProgramServices |
| Management And General | 56156 | ManagementAndGeneral |
| Fundraising | 22153 | Fundraising |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 841586 | Total |
| Program Services | 739486 | ProgramServices |
| Management And General | 73217 | ManagementAndGeneral |
| Fundraising | 28883 | Fundraising |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 194629 | Total |
| Program Services | 171017 | ProgramServices |
| Management And General | 16932 | ManagementAndGeneral |
| Fundraising | 6680 | Fundraising |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral | FundraisingFundraising |
|---|---|---|---|---|
| OPERATION AND MAINTENAN | 922558 | 810635 | 80261 | 31662 |
| GRANT SPENDING | 284771 | 284771 | ||
| EXHIBITION EXPENSES | 216091 | 189875 | 18800 | 7416 |
| MISCELLANEOUS | 158525 | 133412 | 18009 | 7104 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 25966808 | Total |
| Program Services | 23425932 | ProgramServices |
| Management And General | 1873922 | ManagementAndGeneral |
| Fundraising | 666954 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2254799 | BOY |
| EOY | 333972 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 414036 | BOY |
| EOY | 397843 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 727088 | BOY |
| EOY | 3644425 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 145965 | BOY |
| EOY | 283624 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 781093 | BOY |
| EOY | 663315 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 298144 | BOY |
| EOY | 262645 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 66580 | BOY |
| EOY | 76496 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 27059004 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 11779493 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14276196 | BOY |
| EOY | 15279511 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 43747560 | BOY |
| EOY | 40374518 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 11232 | BOY |
| EOY | 11232 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1469417 | BOY |
| EOY | 4108223 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 64192110 | BOY |
| EOY | 65435804 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2332270 | BOY |
| EOY | 2610760 | EOY |
Grants Payable GrantsPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 772367 | BOY |
| EOY | 809323 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 454255 | BOY |
| EOY | 422395 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 12150000 | BOY |
| EOY | 14825000 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 103256 | BOY |
| EOY | 126962 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 15812148 | BOY |
| EOY | 18794440 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 19227697 | BOY |
| EOY | 16538069 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14240798 | BOY |
| EOY | 14571639 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14911467 | BOY |
| EOY | 15531656 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 48379962 | BOY |
| EOY | 46641364 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 64192110 | BOY |
| EOY | 65435804 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 1289253 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -3027851 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 1 | FederalGrantAuditRequired |
| Federal Grant Audit Performed | 1 | FederalGrantAuditPerformed |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School170b1 Aii | X | School170b1Aii |
| General Explanation | SCHEDULE A, PART IV, SUPPLEMENTAL INFORMATION: THE ORGANIZATION IS DIVERSELY SUPPORTED BY MULTIPLE INDIVIDUAL, CORPORATE, PRIVATE FOUNDATION, AND PUBLIC CHARITY DONORS. ACCORDINGLY, IT ALSO WOULD QUALIFY AS A PUBLIC CHARITY THAT MEETS THE 33 1/3% SUPPORT TEST UNDER THE 509(A)(1)/170(B)(1)(A)(VI) REGULATIONS. | GeneralExplanation |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 37675901 | BeginningOfYearBalance |
| Contributions | 1235699 | Contributions |
| Investment Earnings Or Losses | -2380851 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 893876 | GrantsOrScholarships |
| Other Expenditures | 494877 | OtherExpenditures |
| Administrative Expenses | 18095 | AdministrativeExpenses |
| End Of Year Balance | 35123901 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 31052261 | BeginningOfYearBalance |
| Contributions | 162436 | Contributions |
| Investment Earnings Or Losses | 8224280 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 1215245 | GrantsOrScholarships |
| Other Expenditures | 532228 | OtherExpenditures |
| Administrative Expenses | 15603 | AdministrativeExpenses |
| End Of Year Balance | 37675901 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 26312151 | BeginningOfYearBalance |
| Contributions | 116180 | Contributions |
| Investment Earnings Or Losses | 6499349 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 1300701 | GrantsOrScholarships |
| Other Expenditures | 573636 | OtherExpenditures |
| Administrative Expenses | 1082 | AdministrativeExpenses |
| End Of Year Balance | 31052261 | EndOfYearBalance |
Current Year Minus3 Years CurrentYearMinus3Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 38730827 | BeginningOfYearBalance |
| Contributions | 175624 | Contributions |
| Investment Earnings Or Losses | -10717426 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 1399731 | GrantsOrScholarships |
| Other Expenditures | 476061 | OtherExpenditures |
| Administrative Expenses | 1082 | AdministrativeExpenses |
| End Of Year Balance | 26312151 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 0.28650 | BoardDesignatedEOYBalance |
| Permanent Endowment EOY Balance | 0.44220 | PermanentEndowmentEOYBalance |
| Term Endowment EOY Balance | 0.27130 | TermEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | 1 | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | 0 | EndowmentsHeldByRelatedOrgs |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 943378 | OtherCostOrOtherBasis |
| Book Value | 943378 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 24476000 | OtherCostOrOtherBasis |
| Depreciation | 11779493 | Depreciation |
| Book Value | 12696507 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1257949 | OtherCostOrOtherBasis |
| Book Value | 1257949 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 381677 | OtherCostOrOtherBasis |
| Book Value | 381677 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 15279511 | TotalOfBookValueLandBuildings |
Other Assets OtherAssets (3 entries)
| DescriptionDescription | Book ValueBookValue |
|---|---|
| DEFERRED DEBT ACQUISITION COSTS | 188427 |
| DEPOSITS HELD BY TRUSTEE | 991857 |
| DEPOSITS RESTRICTED FOR RETIREMENT OF SHORT TERM DEBT | 2927939 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | 4108223 | TotalBookValueOtherAssets |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| ADVANCE DEPOSITS | $114,057 |
| ACTUARIAL LIABILITY ON ANNUITIES PAYABLE | $12,905 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 126962 | TotalOfAmounts |
| Total Revenue | 27256061 | TotalRevenue |
| Total Expenses | 25966808 | TotalExpenses |
| Excess Or Deficit For Year | 1289253 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -3026770 | NetUnrealizedGLOnInvestments |
| Other | -$1,081 | OtherAmount |
| Total Adjustments | -3027851 | TotalAdjustments |
| Excess Or Deficit Per FS | -1738598 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 18638124 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | -3026770 | NetUnrealizedGainsInvestments |
| Other Revenues | 524380 | OtherRevenues |
| Revenue Not Rptd F990 | -2502390 | RevenueNotRptdF990 |
| Revenue Subtotal | 21140514 | RevenueSubtotal |
| Investment Expenses Not Included | 50146 | InvestmentExpensesNotIncluded |
| Other Revenues Not Included | 6065401 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 6115547 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 27256061 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 20376722 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | 525461 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 525461 | ExpensesNotRptdF990 |
| Expenses Subtotal | 19851261 | ExpensesSubtotal |
| Investment Expenses Not Included2 | 50146 | InvestmentExpensesNotIncluded2 |
| Other Expenses Not Included | 6065401 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 6115547 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 25966808 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (7 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: | PART V, LINE 4: | MCAD'S ENDOWMENT CONSISTS OF APPROXIMATELY 130 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ENDOWMENT PROVIDES SCHOLARSHIPS TO STUDENTS AND GRANTS FOR DEPARTMENTAL NEEDS. |
| DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | PART X: | THE COLLEGE FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION 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 COLLEGE FOR UNCERTAIN TAX POSITIONS AS OF MAY 31, 2012. THE COLLEGE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE TAX RETURNS FOR FISCAL YEARS 2009 AND THEREAFTER ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. |
| PART XI, LINE 8 - OTHER ADJUSTMENTS: | ACTUARIAL ADJUSTMENT -1,081. | |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | DIRECT EXPENSES FROM FUNDRAISING & SPECIAL EVENTS 524,380. | |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | SCHOLARSHIP AND GRANTS 6,065,401. | |
| PART XIII, LINE 2D - OTHER ADJUSTMENTS: | FUNDRAISING EVENT EXPENSES 524,380. ACTUARIAL ADJUSTMENT 1,081. | |
| PART XIII, LINE 4B - OTHER ADJUSTMENTS: | SCHOLARSHIPS AND GRANTS 6,065,401. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | 1 | NondiscriminatoryPolicyStmt |
| Policy Statement In Brochures Etc | 1 | PolicyStatementInBrochuresEtc |
| Policy Publ Via Broadcast Media | 1 | PolicyPublViaBroadcastMedia |
| Maint Racial Composition Records | 1 | MaintRacialCompositionRecords |
| Maint Scholarships Records | 1 | MaintScholarshipsRecords |
| Maint Copies Of Brochures Etc | 1 | MaintCopiesOfBrochuresEtc |
| Maint Copies Of All Solicitations | 1 | MaintCopiesOfAllSolicitations |
| Discriminate Race Students Rights | 0 | DiscriminateRaceStudentsRights |
| Discriminate Race Admiss Policies | 0 | DiscriminateRaceAdmissPolicies |
| Discriminate Race Emplmn Faculty | 0 | DiscriminateRaceEmplmnFaculty |
| Discriminate Race Scholarships | 0 | DiscriminateRaceScholarships |
| Discriminate Race Educ Policies | 0 | DiscriminateRaceEducPolicies |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFclts |
| Discriminate Race Athletic Prog | 0 | DiscriminateRaceAthleticProg |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActy |
| Government Financial Aid Received | 1 | GovernmentFinancialAidReceived |
| Government Financial Aid Revoked | 0 | GovernmentFinancialAidRevoked |
| Compliance With Rev Proc7550 | 1 | ComplianceWithRevProc7550 |
Form990 Schedule E Part II Form990ScheduleEPartII (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION | SCHEDULE E, PART I, LINE 3 | MCAD PUBLISHES ITS NON-DISCRIMINATION POLICY AS STATED ON THE ONLINE APPLICATION. IT READS: "THE MINNEAPOLIS COLLEGE OF ART AND DESIGN DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, OR ETHNIC ORIGIN IN ITS ADMISSIONS OR EDUCATIONAL POLICIES, IN SCHOLARSHIPS, FINANCIAL AID, OR LOAN PROGRAMS, IN EMPLOYMENT, OR IN ACCORDING THE RIGHTS, PRIVILEGES AND ACTIVITIES GENERALLY MADE AVAILABLE AT THIS EDUCATIONAL INSTITUTION." |
| EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE | SCHEDULE E, PART I, LINE 6 | THE COLLEGE RECEIVES FINANCIAL ASSISTANCE FROM THE U.S. GOVERNMENT IN CONNECTION WITH VARIOUS PROGRAMS SUCH AS THE FEDERAL PERKINS LOAN PROGRAM, FEDERAL WORK STUDY PROGRAM, PELL GRANT PROGRAM AND FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT PROGRAM. THE COLLEGE ALSO RECEIVES SUPPORT FROM THE STATE OF MINNESOTA THROUGH THE COLLEGE WORK STUDY PROGRAM AND STATE STUDENT SCHOLARSHIPS AND GRANTS. |
Schedule F IRS990ScheduleF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | 0 | GrantRecordsMaintained |
Accts Actvs Out US Table AcctsActvsOutUSTable
| Field | Value | IRS element (for citing) |
|---|---|---|
| Region | EUROPE (INCLUDING ICELAND & GREENLAND) - | Region |
| Number Of Offices | 0 | NumberOfOffices |
| Number Of Employees | 1 | NumberOfEmployees |
| Type Of Activities Conducted | PROGRAM SERVICES | TypeOfActivitiesConducted |
| Specific Services Provided | TRAVEL ABROAD PROGRAM FOR STUDENTS | SpecificServicesProvided |
| Total Expenditures | 48480 | TotalExpenditures |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Number Of Offices | 0 | SubtotalNumberOfOffices |
| Subtotal Number Of Employees | 1 | SubtotalNumberOfEmployees |
| Cont Number Of Offices | 0 | ContNumberOfOffices |
| Cont Number Of Employees | 0 | ContNumberOfEmployees |
| Total Number Of Offices | 0 | TotalNumberOfOffices |
| Total Number Of Employees | 1 | TotalNumberOfEmployees |
| Subtotal Amount Spent | 48480 | SubtotalAmountSpent |
| Cont Amount Spent | 0 | ContAmountSpent |
| Total Amount Spent | 48480 | TotalAmountSpent |
| No Recipient Over5 K | X | NoRecipientOver5K |
Grants To Orgs Outside US GrantsToOrgsOutsideUS (2 entries)
| RegionRegion | Purpose Of GrantPurposeOfGrant | Amount Of Cash GrantAmountOfCashGrant | Manner Of Cash DisbursementMannerOfCashDisbursement | Method Of ValuationMethodOfValuation |
|---|---|---|---|---|
| EUROPE (INCLUDING ICELAND & GREENLAND) - | TUITION EXPENSE | 30539 | WIRE TRANSFER | FMV |
| EUROPE (INCLUDING ICELAND & GREENLAND) - | TUITION EXPENSE | 12028 | WIRE TRANSFER | FMV |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Number Of Other Orgs | 4 | TotalNumberOfOtherOrgs |
| Transfer To Foreign Corp | 0 | TransferToForeignCorp |
| Interest In Foreign Trust | 0 | InterestInForeignTrust |
| Own Foreign Corp | 0 | OwnForeignCorp |
| Passive Foreign Invest Co | 0 | PassiveForeignInvestCo |
| Foreign Partnership | 0 | ForeignPartnership |
| Boycott Countries | 0 | BoycottCountries |
Form990 Schedule F Part V Form990ScheduleFPartV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: | Identifier |
| Explanation | SCHEDULE F, PART I, LINE 2: THE COLLEGE MAINTAINS RECORDS OF FUNDS GRANTED. THE FUND RECIPIENTS ARE ORGANIZATIONS WITH AN EDUCATIONAL/PROGRAM RELATIONSHIP WITH MCAD. | Explanation |
Schedule G IRS990ScheduleG
| Field | Value | IRS element (for citing) |
|---|---|---|
| Mail Solicitations | X | MailSolicitations |
| Email Solicitations | X | EmailSolicitations |
| Phone Solicitations | X | PhoneSolicitations |
| In Person Solicitations | X | InPersonSolicitations |
| Solicitation Of Non Govt Grants | X | SolicitationOfNonGovtGrants |
| Solicitation Of Govt Grants | X | SolicitationOfGovtGrants |
| Special Fundraising Events | X | SpecialFundraisingEvents |
| Agreement Ref Fundraising | 1 | AgreementRefFundraising |
Fundraiser Activity Information FundraiserActivityInformation
Name Of Organization NameOfOrganization
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MARK KRONHOLM CONSULTING | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 19649 | AddressLine1 |
| City | MINNEAPOLIS | City |
| State | MN | State |
| ZIP Code | 55419 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Activity | CONSULTING | Activity |
| Fundraiser Control Of Funds | 0 | FundraiserControlOfFunds |
| Gross Receipts | 0 | GrossReceipts |
| Amount Retained By Contractor | 43250 | AmountRetainedByContractor |
| Net To Organization | -43250 | NetToOrganization |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Retained By Contractors | 43250 | TotalRetainedByContractors |
| Total Net To Organization | -43250 | TotalNetToOrganization |
Events Information EventsInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Event1 | ART SALE | NameOfEvent1 |
| Gross Receipts Event1 | 336098 | GrossReceiptsEvent1 |
| Charitable Contributions Event1 | 42493 | CharitableContributionsEvent1 |
| Gross Revenue Event1 | 293605 | GrossRevenueEvent1 |
| Food And Beverage Event1 | 4251 | FoodAndBeverageEvent1 |
| Other Direct Expenses Event1 | 288843 | OtherDirectExpensesEvent1 |
| Name Of Event2 | 125TH ANNIVERSARY | NameOfEvent2 |
| Gross Receipts Event2 | 348236 | GrossReceiptsEvent2 |
| Charitable Contributions Event2 | 191111 | CharitableContributionsEvent2 |
| Gross Revenue Event2 | 157125 | GrossRevenueEvent2 |
| Food And Beverage Event2 | 27599 | FoodAndBeverageEvent2 |
| Other Direct Expenses Event2 | 203686 | OtherDirectExpensesEvent2 |
| Gross Receipts Total | 684334 | GrossReceiptsTotal |
| Charitable Contributions Total | 233604 | CharitableContributionsTotal |
| Gross Revenue Total Events | 450730 | GrossRevenueTotalEvents |
| Food And Beverage Total Events | 31850 | FoodAndBeverageTotalEvents |
| Other Direct Expenses Total Events | 492529 | OtherDirectExpensesTotalEvents |
| Direct Expense Summary Events | 524379 | DirectExpenseSummaryEvents |
| Net Income Summary | -73649 | NetIncomeSummary |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Form990 Schedule I Part III Form990ScheduleIPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Grant | SCHOLARSHIPS AND GRANTS PROVIDED AS FINANCIAL AID TO STUDENTS | TypeOfGrant |
| Number Of Recipients | 645 | NumberOfRecipients |
| Amount Of Cash Grant | 6065401 | AmountOfCashGrant |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURE FOR MONITORING GRANTS IN THE U.S.: | Identifier |
| Return Reference | PART I, LINE 2: | ReturnReference |
| Explanation | SCHEDULE I, PART I, LINE 2: ALL FEDERAL AID IS AWARDED BASED ON FINANCIAL AID ELIGIBILITY REQUIREMENTS IN THE FINANCIAL AID OFFICE DURING THEIR AWARD PROCESS. FUNDS ARE DRAWN DOWN BY THE CONTROLLER IN THE BUSINESS OFFICE AND ARE RECONCILED TO THE AWARD. THE MONEY IS DISBURSED TO THOSE APPLICABLE STUDENTS BY THE BUSINESS OFFICE BURSAR. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (2 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JAY COOGAN | |||||||||||||
| 272601 | 0 | 0 | 0 | 1260 | 0 | 20842 | 0 | 20084 | 0 | 314787 | 0 | 0 | 0 |
| JOAN OLSON | |||||||||||||
| 151057 | 0 | 0 | 0 | 1020 | 0 | 13920 | 0 | 21183 | 0 | 187180 | 0 | 0 | 0 |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI (3 entries)
| Issuer EINIssuerEIN | CUSIP NumberCUSIPNumber | Date IssuedDateIssued | Issue PriceIssuePrice | Description Of PurposeDescriptionOfPurpose | DefeasedDefeased | On Behalf Of IssuerOnBehalfOfIssuer | Pool FinancingPoolFinancing |
|---|---|---|---|---|---|---|---|
| MHEFA SERIES 6-K | |||||||
| 410988525 | 60416HHA5 | 2006-07-20 | 7670000 | IMPROVEMENTS | 0 | 0 | 0 |
| MHEFA SERIES 6-Z | |||||||
| 410988525 | 60416HHA5 | 2009-11-24 | 2660000 | PARKING LOT | 0 | 0 | 0 |
| MHEFA SERIES 7-N | |||||||
| 410988525 | 60416HXR0 | 2012-04-26 | 3222823 | IMPROVMENTS | 0 | 0 | 0 |
Form990 Schedule K Part II Form990ScheduleKPartII (3 entries)
| Amount RetiredAmountRetired | Total ProceedsTotalProceeds | Amount In Reserve FundAmountInReserveFund | Issuance Costs From ProceedsIssuanceCostsFromProceeds | Capital ExpendituresCapitalExpenditures | Other Spent ProceedsOtherSpentProceeds | Year Of Subst CompletionYearOfSubstCompletion | Current RefundingCurrentRefunding | Advance RefundingAdvanceRefunding | Final Allocation MadeFinalAllocationMade | Adequate Books And Recds MaintaindAdequateBooksAndRecdsMaintaind |
|---|---|---|---|---|---|---|---|---|---|---|
| 1691700 | 7726700 | 613250 | 154534 | 6956074 | 2842 | 2006 | 0 | 1 | 1 | 1 |
| 2660000 | 53200 | 2606800 | 2010 | 0 | 0 | 1 | 1 | |||
| 7823 | 3222823 | 321500 | 64456 | 2836061 | 806 | 2012 | 1 | 0 | 1 | 1 |
Form990 Schedule K Part III Form990ScheduleKPartIII (3 entries)
| Owning Bond Financed PropertyOwningBondFinancedProperty | Any Lease ArrangementsAnyLeaseArrangements | Mngment Cntrct Bond Financd PrprtyMngmentCntrctBondFinancdPrprty | Any Research AgreementsAnyResearchAgreements | Post Issuance Compliance ProcdrsPostIssuanceComplianceProcdrs |
|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 1 |
| 0 | 0 | 0 | 0 | 1 |
| 0 | 0 | 0 | 0 | 1 |
Form990 Schedule K Part IV Form990ScheduleKPartIV (3 entries)
| Form8038 T FiledForm8038TFiled | Variable Rate IssueVariableRateIssue | Hedge Identified In Books And RecdsHedgeIdentifiedInBooksAndRecds | Gross Proceeds Invested In GICGrossProceedsInvestedInGIC | Gross Proceeds InvestedGrossProceedsInvested | Exception To RebateExceptionToRebate |
|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 1 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 |
Schedule M IRS990ScheduleM
Works Of Art WorksOfArt
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 15 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 47305 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | FAIR MARKET VALUE | MethodOfDeterminingRevenues |
Securities Publicly Traded SecuritiesPubliclyTraded
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 7 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 48078 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | FAIR MARKET VALUE | MethodOfDeterminingRevenues |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of8283 Received | 0 | NumberOf8283Received |
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | 1 | ReviewProcessUnusualNCGifts |
| Third Parties Used | 1 | ThirdPartiesUsed |
Form990 Schedule M Part II Form990ScheduleMPartII (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: | PART I, COLUMN (B): | SCHEDULE M, COLUMN B, LISTS THE NUMBER OF CONTRIBUTORS. |
| THIRD PARTY USE: | PART I, LINE 32B: | THE COLLEGE USES A SECURITIES BROKER TO SELL DONATED STOCK. THE COLLEGE ALSO USED AN AUCTION COMPANY TO AUCTION DONATED ART WORK FOR THE 125TH ANNIVERSARY. |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (8 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 1 | THE EXECUTIVE COMMITTEE HAS DELEGATED AUTHORITY. IT IS COMPRISED OF ALL OF THE CHAIRS OF THE STANDING COMMITTEES OF THE BOARD EXCEPT FOR THE PRESIDENT, WHO SHALL BE EX-OFFICIO WITHOUT VOTE AND NOT BE COUNTED AS PART OF A QUORUM FOR THE PURPOSE OF TRANSACTING BUSINESS, THE OFFICERS OF THE BOARD, AND THE IMMEDIATE PAST BOARD CHAIR. THE SCOPE OF THE COMMITTEE'S AUTHORITY IS THAT IT SHALL SERVE AT THE PLEASURE OF THE BOARD AS ITS AGENT IN HELPING THE PRESIDENT TO ADDRESS NONESSENTIAL BUSINESS BETWEEN REGULAR BOARD MEETINGS, AND IT SHALL SUGGEST BOARD MEETING AGENDA ITEMS AND PERIODICALLY ASSESS THE QUALITY OF COMMITTEE WORK. THE COMMITTEE SHALL HAVE AUTHORITY ON ALL MATTERS EXCEPT FOR THE FOLLOWING: PRESIDENTIAL SELECTION AND TERMINATION; TRUSTEE AND BOARD-OFFICER ELECTION; CHANGES IN INSTITUTIONAL MISSION AND PURPOSES; CHANGES TO THE CHARTER OR ARTICLES OF INCORPORATION; INCURRING OF CORPORATE INDEBTEDNESS; SALE OF COLLEGE ASSETS OR TANGIBLE PROPERTY; ADOPTION OF THE ANNUAL BUDGET; AND CONFERRAL OF DEGREES. THERE MAY BE BYLAWS OR BOARD POLICIES THAT MAY RESERVE OTHER POWERS FOR THE BOARD OF TRUSTEES. | |
| FORM 990, PART VI, SECTION A, LINE 2 | CLINTON MORRISON, TRUSTEE, AND CLINTON H. MORRISON, TRUSTEE: FAMILY RELATIONSHIP. DAVID HARTWELL, BOARD CHAIR, AND DAVID ANDREAS, TRUSTEE: BUSINESS RELATIONSHIP. | |
| FORM 990, PART VI, SECTION B, LINE 11 | THE FORM 990, WITH INDIVIDUAL CONTRIBUTOR NAMES REDACTED, WAS PROVIDED TO EACH VOTING MEMBER OF ITS GOVERNING BODY BEFORE FILING THE FORM. | |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL BOARD MEMBERS AND OFFICERS ARE SUBJECT TO THE FOLLOWING PROCESS: INDIVIDUALS WHO DISCLOSE A CONFLICT OF INTEREST MUST LEAVE THE RELEVANT MEETING WHILE A DETERMINATION OF MATERIALITY OF THE CONFLICT IS MADE. IF A CONFLICT IS DETERMINED TO EXIST WITHIN THE SCOPE OF THE POLICY THOSE INDIVIDUALS MAY MAKE A PRESENTATION OF THE PROPOSED TRANSACTION OR ARRANGEMENT BUT THEN MUST LEAVE THE ROOM AND ABSTAIN FROM VOTING ON THE PROPOSED TRANSACTION OR ARRANGEMENT. A TRUSTEE SHALL BE CONSIDERED TO HAVE A CONFLICT OF INTEREST WITHIN THE SCOPE OF THE POLICY IF HE OR SHE (1) HAS EXISTING OR POTENTIAL FINANCIAL OR OTHER INTERESTS THAT IMPAIR OR APPEAR TO IMPAIR HIS OR HER INDEPENDENT, UNBIASED JUDGMENT IN THE DISCHARGE OF HIS OR HER RESPONSIBILITIES TO THE COLLEGE; OR (2) IS AWARE THAT A MEMBER OF HIS OR HER FAMILY HAS FINANCIAL OR OTHER INTERESTS THAT WOULD IMPAIR OR APPEAR TO IMPAIR THE TRUSTEE'S INDEPENDENT JUDGMENT IN THE DISCHARGE OF HIS OR HER RESPONSIBILITIES TO THE COLLEGE. FOR THE PURPOSES OF THIS PROVISION, A FAMILY MEMBER IS DEFINED AS A SPOUSE, DOMESTIC PARTNER, PARENT, SIBLING, CHILD, OR ANY OTHER RELATIVE RESIDING IN THE SAME HOUSEHOLD AS THE TRUSTEE. ALL TRUSTEES SHALL DISCLOSE TO THE BOARD ANY POSSIBLE CONFLICT OF INTEREST AT THE EARLIEST PRACTICAL TIME. FURTHER, THE TRUSTEE SHALL ABSENT HIMSELF OR HERSELF FROM DISCUSSIONS OF, AND ABSTAIN FROM VOTING ON, SUCH MATTERS UNDER CONSIDERATION BY THE BOARD OF TRUSTEES OR ITS COMMITTEES. THE MINUTES OF SUCH MEETING SHALL REFLECT THAT A DISCLOSURE WAS MADE AND THAT THE TRUSTEE WITH A CONFLICT OR POSSIBLE CONFLICT ABSTAINED FROM VOTING. ANY TRUSTEE WHO IS UNCERTAIN AS TO WHETHER A CONFLICT OF INTEREST MAY EXIST IN ANY MATTER MAY REQUEST THAT THE BOARD OF COMMITTEE RESOLVE THE QUESTION IN HIS OR HER ABSENCE BY MAJORITY VOTE. EACH TRUSTEE SHALL COMPLETE AND SIGN A CONFLICT OF INTEREST DISCLOSURE FORM PROVIDED ANNUALLY BY THE SECRETARY OF THE BOARD OF TRUSTEES. | |
| FORM 990, PART VI, SECTION B, LINE 15A | THE PRESIDENT'S COMPENSATION IS REVIEWED BY THE EXECUTIVE COMMITTEE ANNUALLY. THEY COMPARE THE COMPENSATION PROPOSED AGAINST COMPARABLE PRESIDENTS OF SIMILAR INSTITUTIONS. THE PRESIDENT'S CONTRACT WAS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES IN EXECUTIVE SESSION DURING THE 2011-12 FISCAL YEAR. THE VP OF ADMINISTRATION HAS DONE THE COMPARABILITY DATA FOR THE OFFICERS. THIS WAS REVIEWED AND APPROVED BY THE PRESIDENT ANNUALLY. | |
| FORM 990, PART VI, SECTION C, LINE 19 | THEY ARE AVAILABLE UPON REQUEST IN THE FINANCE OFFICE. | |
| FORM 990, PART XI, LINE 5: | NET UNREALIZED LOSSES ON INVESTMENTS: -3,026,770. ACTUARIAL ADJUSTMENT -1,081. TOTAL TO FORM 990, PART XI, LINE 5: -3,027,851. | CHANGES IN NET ASSETS OR FUND BALANCES: |
| FORM 990, PART XII, LINE 2C | THE OVERSIGHT AND SELECTION PROCESS FOR THE AUDIT OF THE FINANCIAL STATEMENTS HAS NOT CHANGED FROM THE PRIOR YEAR. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part IV Form990ScheduleRPartIV
Name Of Related Org NameOfRelatedOrg
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GIFT ANNUITY TRST (1) | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Primary Activity | CHARITABLE TRUST | PrimaryActivity |
| Legal Domicile State | MN | LegalDomicileState |
| Direct Controlling Entity NA | N/A | DirectControllingEntityNA |
| Type Of Entity | T | TypeOfEntity |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 0 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 0 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 0 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 0 | SharingOfFacilities |
| Sharing Of Paid Employees | 0 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 0 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |