2013-05-07T15:21:47-05:00 2012-06-30 KPMG LLP 4200 Wells Fargo Ctr 90 S 7th Minneapolis MN 55402 990 2011-07-01 411879994 University Gateway Corporation % KATHLEEN L PICKARD UNIV 6126243333 200 Oak Street SE Minneapolis MN 554552010 Kathleen L Pickard 6126243333 2013-04-30 true 6123055000 2013-05-01 2011 2016-03-07 17:11:31Z Kathleen L Pickard 200 Oak Street SE Suite 500 Minneapolis MN 554552010 6007133 false X N/A X 1997 MN University Gateway owns and operates a facility to be used to support its beneficiary organizations (U of MN Foundation, MN Medical Foundation, and U of MN Alumni Association) and the University of MN. 6 3 0 3 738723 -322194 0 0 5527599 5692264 771 16 303200 314853 5831570 6007133 0 5000 0 0 0 0 0 0 0 6220989 6158261 6220989 6163261 -389419 -156128 75111742 74315790 56135620 56961078 18976122 17354712 X DETAILED ON SCHEDULE O false false 5670815 5692264 The program services of the University Gateway Corporation are dedicated to providing support for its beneficiary organizations listed on Schedule A, Part IV and the University of Minnesota. University Gateway Corporation provides support to these organizations by providing affordable lease rates and preferential use of event facilities. 5670815 true false false false false false false true false false true false false true true true true false false false false false false false false false false false false true true false false false false false false false false false false false false false false false true false false false false true 0 0 true 0 true true false false false false false false false false false false false false X 6 3 false true false false false false false true true false false true true true true false false false MN X KATHLEEN L PICKARD 6126243333 200 Oak Street SE Suite 500 Minneapolis MN 554552010 X Fred Friswold 1.0 X X 0 0 0 Kent Horsager 1.0 X 0 0 0 Becky Malkerson 1.0 X 0 396106 41883 L Steven Goldstein 1.0 X 0 446572 49225 Phil Esten 1.0 X 0 211190 57312 Larry Lauka 1.0 X 0 0 0 Kathleen L Pickard 1.0 X 0 214773 42839 Jim Heinz 40.0 X 0 0 0 Cynthia Kaiser 1.0 X 0 218385 34950 0 1487026 226209 0 false true false NorthMarq Real Estate Services LLC PO Box 860035 MINNEAPOLIS MN 554860035 Management Services 1163108 ABM Janitorial North Central 75 Remittance Drive 3048 CHICAGO IL 606753048 Janitorial Cleaning 461595 MA Mortenson Company PO Box 710 Minneapolis MN 55440 Construction Project 130682 RJM Construction LLC SDS 12-2903 PO Box 86 Minneapolis MN 554862903 Construction Project 231330 Aloha Landscaping Inc 870 Mendakota Court Mendota Heights MN 55120 Landscaping 104760 5 0 LEASING OF MCNAMARA ALUMNI CENTER 532000 1785603 1785603 DIRECT FINANCING LEASE 721000 2840840 2840840 CONFERENCE CENTER SERVICE 721000 1065821 629635 436186 5692264 16 16 0 12316 12316 0 0 0 0 CATERING 722320 302537 302537 302537 6007133 5256078 738723 12332 5000 5000 0 0 0 0 0 0 0 0 0 1698069 1256609 441460 13052 13052 37830 37830 0 0 0 0 70374 70374 102242 102242 0 0 0 0 0 0 1322230 1322230 0 608877 608877 0 HERITAGE GALLERY 5933 5933 BUILDING/EVENTS OPERATIONS 1562314 1562314 FINANCING 731720 731720 OTHER MISC 5620 5516 104 0 6163261 5670815 492446 0 0 0 523750 267771 0 0 106724 347330 0 0 0 0 0 0 0 0 47324 41908 22754816 5572511 17332569 17182305 0 0 0 0 0 0 0 0 57101375 56476476 75111742 74315790 1672166 1477921 0 0 0 0 52921554 52310227 0 0 0 0 0 0 0 0 1541900 3172930 56135620 56961078 X 18975077 17353667 1045 1045 0 0 18976122 17354712 75111742 74315790 X -156128 -1465282 X false true true X false X X X false false false U OF MN FOUNDATION 416042488 05 true true true 0 MN MEDICAL FOUNDATION 416027707 05 true true true 0 U OF MN ALUMNI ASSOCIATION 410637089 07 true true true 0 3 The taxpayer supports each of its beneficiary organizations by providing office space and event space for those organizations and the University of Minnesota as preferential tenants. The amount of support cannot be monetarily quantified; however, the program service expenses of $5,670,815 represent expenditures in support of the University of Minnesota and the three organizations listed in Part One of Schedule A. X X false 17058020 1893161 15164859 5696796 3679350 2017446 17182305 RESTRICTED CASH 860838 PARTIES 23781667 DEBT ISSUE COST - NET 915834 DIRECT FINANCING LEASES 30918137 56476476 0 DERIVATIVE FINANCIAL INSTRUMENT 2924628 CAPITAL LEASE PAYABLE 248302 3172930 6007133 6163261 -156128 -1465282 -1465282 -1621410 6007133 6007133 6007133 6163261 6163261 6163261 Part III, Line 4 The Corporation maintains the Heritage Gallery, a display of objects of historical significance related to the University of Minnesota. The Gallery is free and open to the public during normal building hours. Historical objects held are of significance to the University but have no ascertainable value in the marketplace. While the corporation's policy would be to recognize income and capitalize such assets, fair value is not determinable and so no assets are held on the books. Part XI, Line 8 Change in Interest in the Net Assets of a Related Party $177,431; Change in Value of Derivative Financial Instrument ($1,642,713). Part X, Line 2 FASB Interpretation FIN 48 (FIN 48), Accounting for Uncertainty in Income Tax - an Interpretation of FASB Statement No. 109, provides that a tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits. Income tax positions must meet a more-likely-than-not recognition threshold to be recognized. This interpretation also provides guidance on measurement derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. The Corporation recorded no liabilities in 2012 or 2011 for unrecognized tax positions. false false false false false false false false false Becky Malkerson 0 335515 0 49153 0 11438 0 31850 0 10033 0 437989 0 0 L Steven Goldstein 0 325860 0 101560 0 19152 0 31850 0 17375 0 495797 0 0 Phil Esten 0 211190 0 0 0 0 0 28297 0 29015 0 268502 0 0 Kathleen L Pickard 0 183433 0 28365 0 2975 0 24635 0 18204 0 257612 0 0 Cynthia Kaiser 0 188046 0 28518 0 1821 0 24841 0 10109 0 253335 0 0 City of Minneapolis (SERIES 2006) 416005375 603786FK5 2006-04-12 22608196 Prov. funds to refund prior issue false false false City of Minneapolis (SERIES 2009) 416005375 603786FP4 2009-10-22 10500000 Building Expansion false false false 0 0 22608196 0 0 22258931 349265 0 0 0 0 0 2006 false true true true 0 0 10500000 0 159653 0 349875 68250 0 9914518 7704 0 2011 false false false true 0 false false false false 0 true false false false 0 false 0 false false false true false 0 false 0 false false X Series 2006 2006 Refinance to Provide Funds to Refund a Prior Issue (Series 1997-A) Organization's Mission Form 990 Part III, Line 1 University Gateway Corporation owns and operates a facility which is used to support its beneficiary organizations and the University of Minnesota in student recruiting, alumni relations, fundraising and the general operation of the beneficiary organizations and the University of Minnesota. The beneficiary organizations include the University of Minnesota Foundation, the University of Minnesota Alumni Association, and the Minnesota Medical Foundation. Delegation of control over management duties Form 990 Part VI, Line 3 University Gateway Corporation pays Cushman & Wakefield/NorthMarq Real Estate Services ("NorthMarq") to act as the property manager of the building. NorthMarq keeps track of the books and allocates expenses to University Gateway Corporation for the employees that it provides. Jim Heinz, Chief Operating Officer, is an employee of NorthMarq. Due to the extent of his management authority, Jim Heinz is an officer of the Board and is listed on Schedule J. However, because he is employed by NorthMarq, an unrelated party, no compensation appears on Part VII on the 990 or Schedule J. The agreement between University Gateway Corporation and NorthMarq, which renews annually if not terminated by either the Corporation or NorthMarq, provides for an annual management fee plus the cost of on-site personnel. The University Gateway Corporation has no employees. Review Process of 990 Form 990 Part VI, Line 11a The Form 990 is prepared by a professional accounting firm from information provided by University Gateway Corporation. The Chief Financial Officer of University Gateway Corporation then reviews the form 990 for accuracy. The form is then distributed to the board and any comments on the form are discussed prior to the filing of the form. Conflict of Interest Form 990 Part VI, Line 12c The University Gateway Corporation does have a Board approved Conflict of Interest Statement. The Officers and Directors of the Board are required annually to read the Conflict of Interest Statement and disclose any interests that could be of conflict. The Chief Financial Officer reviews the Conflict of Interest statements for any potential conflicts. The policy indicates that "If a conflict or potential conflict arises, the individual shall disclose, in writing, the existence of the conflict to the Chair of the Board of University Gateway Corporation prior to making, or participating in, any University Gateway Corporation decision involving the situation in which the conflict of interest exists. The Chair of the Board shall document the decision made on the matter resulting from the conflict, detailing the factors involved in the decision." Whistleblower Policy Part VI, Line 13 Since the University Gateway Corporation has no employees, it does not have a whistleblower policy. However, the three beneficiary organizations (University of Minnesota Foundation, Minnesota Medical Foundation, and University of Minnesota Alumni Association) each have their own whistleblower policies. Form 990 Part VI, Line 19 University Gateway Corporation's governing documents and conflict of interest policy are not made available to the public. Audited financial statements are available upon request. Form 990 Part XI, Line 5 CHANGE IN INTEREST IN THE NET ASSETS OF A RELATED PARTY $177,431; CHANGE IN VALUE OF DERIVATIVE FINANCIAL INSTRUMENT ($1,642,713). HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Becky Malkerson TITLE:Director HOURS:40 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:L. Steven Goldstein TITLE:Director HOURS:40 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Phil Esten TITLE:Director HOURS:40 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Kathleen L. Pickard TITLE:Treasurer & CFO HOURS:40 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Cynthia Kaiser TITLE:Secretary HOURS:40 University of Minnesota Foundation 200 Oak Street SE Suite 500 Minneapolis MN 55455 416042488 Fundraising MN 501(c)(3) 5 NA false Minnesota Medical Foundation 200 Oak Street SE Suite 500 Minneapolis MN 55455 416027707 Fundraising MN 501(c)(3) 5 NA false University of Minnesota Alumni Assn 200 Oak Street SE Suite 200 Minneapolis MN 55455 410637089 Alumni MN 501(c)(3) 7 NA false false false false false true false false false true false true false true false true false false false