2026-02-04T17:31:10-06:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP 121 SOUTH TEJON STREET SUITE 1100 COLORADO SPRINGS CO 80903 990 2024-07-01 410693960 TRUSTEES OF THE HAMLINE UNIVERSITY OF MINNESOTA TRUS 6515232329 1536 HEWITT AVE ST PAUL MN 55104 DR MAYME HOSTETTER PRESIDENT 6515232329 2026-01-29 1 1 SARAH HINTZ P00492291 7196350330 2026-01-26 2024 2025-03-06 01:10:19Z HAMLINE UNIVERSITY DR MAYME HOSTETTER 1536 HEWITT AVE ST PAUL MN 55104 166051060 0 X WWW.HAMLINE.EDU X NON PROFIT PRIVATE SCHOOL 1854 MN AT HAMLINE, OUR MISSION IS TO CREATE A DIVERSE AND COLLABORATIVE COMMUNITY OF LEARNERS DEDICATED TO THE DEVELOPMENT OF STUDENTS' KNOWLEDGE, VALUES, AND SKILLS FOR SUCCESSFUL LIVES OF LEADERSHIP, SCHOLARSHIP, AND SERVICE. 30 29 1451 300 80168 9715 10713554 12042510 93755100 100142880 6221897 10961459 1094320 202073 111784871 123348922 42180115 47448607 0 0 36545709 36514335 84548 36226 1563980 35069899 35357949 113880271 119357117 -2095400 3991805 254559352 264255057 52894632 48503982 201664720 215751075 X FOUNDED IN 1854, HAMLINE UNIVERSITY IS A NATIONALLY RANKED COMPREHENSIVE UNIVERSITY SERVING OVER 2,600 STUDENTS IN ITS COLLEGE OF LIBERAL ARTS, SCHOOL OF EDUCATION, AND SCHOOL OF BUSINESS. IT OFFERS UNDERGRADUATE, MASTERS, DOCTORATE AND PROFESSIONAL DEGREES, AS WELL AS CERTIFICATE AND CONTINUING STUDIES PROGRAMS. 0 0 70525530 47428607 93237968 HAMLINE UNIVERSITY IS A NATIONALLY-RANKED, COMPREHENSIVE UNIVERSITY SERVING OVER 2,600 STUDENTS IN ITS COLLEGE OF LIBERAL ARTS, SCHOOL OF EDUCATION, AND SCHOOL OF BUSINESS. IT OFFERS UNDERGRADUATE, MASTERS, DOCTORAL AND PROFESSIONAL DEGREES, AS WELL AS CERTIFICATE AND CONTINUING STUDIES PROGRAMS. FOUNDED IN 1854, HAMLINE UNIVERSITY WAS THE FIRST INSTITUTION OF HIGHER LEARNING IN MINNESOTA. THE UNIVERSITY HAS ESTABLISHED A NATIONAL REPUTATION FOR ACADEMIC QUALITY, AS WELL AS PROVIDING STUDENTS WITH PERSONAL ATTENTION AND HIGH-IMPACT LEARNING EXPERIENCES. HAMLINE IS ONE OF APPROXIMATELY 290 PHI BETA KAPPA INSTITUTIONS IN THE UNITED STATES. AMONG COMPREHENSIVE UNIVERSITIES, U.S. NEWS AND WORLD REPORT'S 2024 RANKINGS PLACE HAMLINE AS THE TOP MINNESOTA UNIVERSITY IN ITS CATEGORY OF BEST REGIONAL UNIVERSITIES. IT IS ONE OF ONLY FOUR PRIVATE UNIVERSITIES IN MINNESOTA, WISCONSIN, IOWA AND THE DAKOTAS THAT RATE WITHIN THE TOP 20% FOR STUDENT'S ECONOMIC MOBILITY, OUT OF 1,320 OF US COLLEGES AND UNIVERSITIES, ACCORDING TO THIRDWAY.ORG'S 2022 RANKINGS. 16610766 0 0 HAMLINE UNIVERSITY PROVIDES EDUCATIONAL SERVICES TO ITS STUDENTS AND INCLUDES SUCH OPERATING EXPENSES AS ADMISSIONS, FINANCIAL AID, ADMINISTRATION, REGISTRAR ACTIVITIES, AND ACTIVITIES THAT CONTRIBUTE TO STUDENTS' EMOTIONAL AND PHYSICAL WELL-BEING AND TO THEIR INTELLECTUAL, CULTURAL, AND SOCIAL DEVELOPMENT OUTSIDE THE CONTEXT OF THE FORMAL INSTRUCTIONAL PROGRAM. 7860653 0 1011190 HAMLINE UNIVERSITY PROVIDES ACADEMIC SUPPORT TO ITS STUDENTS THROUGH SUPPORT SERVICES THAT ARE AN INTEGRAL PART OF THE UNIVERSITY'S PRIMARY MISSION OF INSTRUCTION. THIS INCLUDES EXPENSES FOR LIBRARIES, GALLERIES, AUDIO/VISUAL SERVICES, ACADEMIC DEVELOPMENT, ACADEMIC COMPUTING SUPPORT, COURSE AND CURRICULUM DEVELOPMENT, AND ACADEMIC ADMINISTRATION. THE REVENUE INCLUDES CONTRACTS. 7792786 0 3761476 HAMLINE UNIVERSITY ALSO PROVIDES AUXILIARY SERVICES TO STUDENTS IN RELATION TO THEIR OPERATIONS. THESE SERVICES MAY CHARGE A FEE TO STUDENTS THAT IS RELATED TO, ALTHOUGH NOT NECESSARILY EQUAL TO, THE COST OF PROVIDING THE SERVICE. EXAMPLES ARE RESIDENCE HALLS, DINING SERVICES, STUDENT HEALTH SERVICES, AND THE CAMPUS BOOKSTORE. 3237125 20000 2254170 EXPENDITURES OF THOSE OFFICES AND ACTIVITIES WHOSE PRIMARY PURPOSE IS TO SUPPORT THE PROGRAM ACTIVITIES OF THE UNIVERSITY. 11029911 20000 6015646 106026860 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 1 1 0 0 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 3877 0 1 1451 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 30 29 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 AK CO MA MI MN NH OR PA SD WA X SUSAN KERRY 6515232329 1536 HEWITT AVE SAINT PAUL MN 55104 FAYNEESE MILLER PAST PRESIDENT 40.00 X X 417861 0 45226 KATHLEEN MURRAY PRESIDENT 40.00 X X 465352 0 60352 DORON CLARK '00 CHAIR 4.00 X X 0 0 0 ANDREA MOWERY '93 VICE CHAIR 2.00 X X 0 0 0 PAUL ABLAN '82 SECRETARY 2.00 X X 0 0 0 LISA CARRIERE '85 TREASURER 2.00 X X 0 0 0 PHILIP BELL TRUSTEE 2.00 X 0 0 0 CHAD BESTER '02 TRUSTEE 2.00 X 0 0 0 JUSTIN BUTLER TRUSTEE 2.00 X 0 0 0 PAUL DADLEZ JD '94 TRUSTEE 2.00 X 0 0 0 ROBIN DIETZ-MAYFIELD '77 TRUSTEE 2.00 X 0 0 0 BRYCE DOTY '88 TRUSTEE 2.00 X 0 0 0 JEANNA FORNERIS TRUSTEE 2.00 X 0 0 0 CINDY GREGORSON '81 TRUSTEE 2.00 X 0 0 0 PATRICK HECTORNE '75 TRUSTEE 2.00 X 0 0 0 DENISE HOLLOMAN TRUSTEE 2.00 X 0 0 0 ROBERT KLAS JR '85 TRUSTEE 2.00 X 0 0 0 DANIEL LORITZ '69 TRUSTEE 2.00 X 0 0 0 MATTHEW MASSMAN '88 TRUSTEE 2.00 X 0 0 0 JOHN PACKARD '75 TRUSTEE 2.00 X 0 0 0 JOSEPH PESCHEK TRUSTEE 2.00 X 0 0 0 LANETTE PLAMBECK TRUSTEE (EX OFFICIO) 2.00 X 0 0 0 STEPHEN RICHARDS TRUSTEE 2.00 X 0 0 0 ROBERTA SAUNDERS TRUSTEE 2.00 X 0 0 0 MARCIA URBAN JD '82 TRUSTEE 2.00 X 0 0 0 ELLEN WATTERS TRUSTEE 2.00 X 0 0 0 DON WEIDA '72 TRUSTEE 2.00 X 0 0 0 RICH WIEN '68 TRUSTEE 2.00 X 0 0 0 JAI WINSTON TRUSTEE 2.00 X 0 0 0 MICHAEL WIRTH-DAVIS '07 TRUSTEE 2.00 X 0 0 0 BROOKE WORDEN '93 TRUSTEE 2.00 X 0 0 0 SUSAN KERRY VP FOR FINANCE & ADMIN / CFO 40.00 X 153944 0 14129 CATHERINE WASSBERG VICE PRESIDENT & GENERAL COUNSEL 40.00 X 290048 0 22818 ANDY RUNDQUIST INTERIM PROVOST 40.00 X 186601 0 14420 MARCELA KOSTIHOVA DEAN OF COLLEGE OF LIBERAL ARTS 40.00 X 167734 0 45727 HEIDI FISHER VP OF DEVELOPMENT 40.00 X 164792 0 34351 JILLIAM PETERSON EXECUTIVE DIRECTOR - VPPRC 40.00 X 171164 0 32124 PATTI KLEIN-KERSTEN VP & DEAN OF STUDENTS 40.00 X 149294 0 25796 L DEVRIESE DIRECTOR OF GLOBAL ENGAGEMENT 40.00 X 173790 0 23966 STANLEY SANDIFORD ASSOCIATE GENERAL COUNCIL 40.00 X 157961 0 25491 IRINA MAKAREVITCH ASSOCIATE PROVOST 40.00 X 128451 0 19804 2626992 0 364204 12 0 1 0 MARSDEN LLC PO BOX 1150 MINNEAPOLIS MN 55480 JANITORIAL SERVICES 2095380 EAB PO BOX 603519 CHARLOTTE NC 60673 RESEARCH 1553440 ARAMARK CORPORATION 27310 NETWORK PLACE CHICAGO IL 60673 FOOD SERVICE 1489675 SODEXO INC & AFFILIATES PO BOX 360170 PITTSBURGH PA 15251 FOOD SERVICE 1010415 MARCO INC PO BOX 1450 MINNEAPOLIS MN 55485 COPY/PRINT SERVICES 526358 16 4228335 7814175 1371991 12042510 TUITION & RELATED SERV 611310 93035895 93035895 AUXILARY ENTERPRISES 721310 3769731 3761476 8255 OTHER SOURCES 611710 2326064 2254170 71894 SALES & SERVICES OF ED 611310 1011190 1011190 100142880 7652585 19 7652566 41512114 1183824 39387064 0 2125050 1183824 3308874 3308874 3517147 3315074 202073 202073 123348922 100264804 80168 10961440 20000 20000 47251157 47251157 177450 177450 2109360 214166 1795362 99832 27378494 22866056 3557075 955363 1642333 1289400 296526 56407 3355871 2800767 464700 90404 2028277 1541134 418871 68272 1398402 1171888 226514 124686 41923 82763 107137 107137 36226 36226 792147 792147 3537793 3506128 31665 2480100 1934423 543388 2289 3970278 3392101 534357 43820 3393553 2837013 478900 77640 5568463 5154790 372362 41311 2048571 1767499 241491 39581 916964 618703 298261 1593511 1496437 84916 12158 6369894 6045113 284104 40677 1110224 473333 636891 PROGRAM EXPENSE 1131264 1073105 58159 BAD DEBT EXPENSE 548000 548000 266962 354274 -87312 119357117 106026860 11766277 1563980 4174414 4789950 8011309 3379535 3257439 5707347 6423164 68912 88047 5980886 4870547 226062148 145532341 85852539 80529807 102444604 100184357 42249895 52943250 836782 587152 3248902 3185571 254559352 264255057 5675801 5699850 787059 476064 1068097 1579860 40233828 38317160 2505034 0 2624813 2431048 52894632 48503982 X 68329186 72110624 133335534 143640451 201664720 215751075 254559352 264255057 X 3991805 9965833 128717 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 0 0 1 127037 127037 0 PART II-B, LINE 1: HAMLINE UNIVERSITY IS A MEMBER OF MINNESOTA PRIVATE COLLEGE COUNCIL (MPCC), AN ORGANIZATION DESCRIBED IN SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE. MPCC IS AN ASSOCIATION OF PRIVATE NONPROFIT INSTITUTIONS OF HIGHER EDUCATION THAT SERVES A VARIETY OF ITS MEMBERS' SHARED NEEDS, INCLUDING, BUT NOT ONLY, NONPARTISAN AND NON-ELECTORAL ADVOCACY FOR PUBLIC POLICY THAT MEETS STUDENTS' NEEDS AND ADVANCES THE INTERESTS OF PRIVATE HIGHER EDUCATION. HAMLINE UNIVERSITY PAID MEMBERSHIP DUES TO MPCC IN THE AMOUNT OF $137,829 DURING THE TAXABLE YEAR. MPCC HAS DIVIDED ITS EXPENSES FOR ITS TAXABLE YEAR ENDED JUNE 30, 2025, INTO TWO GROUPS. GROUP 1 CONSISTS OF THOSE EXPENSES THAT DID NOT IN ANY WAY SUPPORT ATTEMPTS TO INFLUENCE LEGISLATION WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("LOBBYING"), AND GROUP 2 CONSISTS OF ALL OTHER EXPENSES. GROUP 2 INCLUDES MANY EXPENSES, SUCH AS PERSONNEL COSTS, THAT SUPPORTED BOTH LOBBYING AND NONLOBBYING ACTIVITIES. MPCC DID NOT ATTEMPT TO ALLOCATE THE GROUP 2 EXPENSES BETWEEN LOBBYING AND NONLOBBYING ACTIVITIES. MPCC HAS DETERMINED THAT THE AMOUNT OF THE GROUP 2 EXPENSES REPRESENTS 92.17% OF THE AMOUNT OF THE DUES THAT MPCC COLLECTED IN THE SAME TAXABLE YEAR. ASSUMING THAT ALL GROUP 2 EXPENSES WERE PAID FROM MEMBER DUES, AND ALLOCATING THOSE EXPENSES PRO RATA BASED ON THE DUES PAID BY EACH MEMBER, $127,037 OF HAMLINE UNIVERSITY'S DUES WERE USED TO PAY GROUP 2 EXPENSES. THE AMOUNT OF LOBBYING EXPENSES PAID FROM HAMLINE UNIVERSITY'S DUES WAS SIGNIFICANTLY LESS THAN THAT AMOUNT. X X X 0 147220119 2134376 15486193 1285535 2151448 2585528 158818177 126516616 4467228 21745290 2377131 1871805 1260079 147220119 117220824 3642326 11097237 2359831 1842682 1241258 126516616 138088802 3540839 -19459973 1613015 2193640 1142189 117220824 100558941 10514953 31375347 1584912 1986914 788613 138088802 0.17020 0.82980 0.00000 0 0 2874679 2874679 161367685 91747075 69620610 9700569 8208388 1492181 39853959 35313284 4540675 12265256 10263594 2001662 80529807 PRIVATE EQUITY, HEDGE FUNDS, AND REAL ASSETS 52943250 F 52943250 ANNUITIES PAYABLE 638817 LEASE LIABILITY 197071 ROU LEASE LIABILITY 1595160 2431048 X 88507491 9965833 128717 10094550 78412941 792147 44143834 44935981 123348922 74421136 -10301 -10301 74431437 792147 44133533 44925680 119357117 PART III, LINE 1A: THE UNIVERSITY'S COLLECTIONS, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE UNIVERSITY'S INCEPTION, ARE NOT RECOGNIZED AS ASSETS ON THE BALANCE SHEET. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN NET ASSETS WITHOUT DONOR RESTRICTIONS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED OR AS NET ASSETS WITH DONOR RESTRICTIONS IF THE ASSETS THAT ARE USED TO PURCHASE THE ITEMS ARE RESTRICTED BY THE DONORS. CONTRIBUTED COLLECTION ITEMS ARE NOT REFLECTED ON THE FINANCIAL STATEMENTS. PROCEEDS FROM DE-ACCESSIONS OR INSURANCE RECOVERIES ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASSES. PART III, LINE 4: THE UNIVERSITY'S COLLECTION IS MADE UP OF POTTERY, PRINTS, MUSICAL INSTRUMENTS AND PAINTINGS THAT ARE HELD FOR EDUCATIONAL AND PERFORMANCE PURPOSES. EACH OF THE ITEMS IS CATALOGUED, PRESERVED AND CARED FOR AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. PART V, LINE 4: THE INTENDED USES OF THE ENDOWMENT FUNDS ARE TO ESTABLISH A SCHOLARSHIP OR PRIZE, TO CREATE A CHAIR IN A SPECIFIC ACADEMIC AREA, TO FUND A PARTICULAR RESEARCH PROGRAM, TO FUND OTHER PROGRAMS SUCH AS PROFESSORSHIPS, FELLOWSHIPS, LIBRARY, BUILDINGS, EQUIPMENT AND LECTURES AND DISCRETIONARY USE BY THE UNIVERSITY (UNRESTRICTED). PART X, LINE 2: THE IRS HAS DETERMINED THAT THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IT IS ALSO EXEMPT FROM STATE INCOME TAX. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. THE UNIVERSITY HAS ADOPTED THE ACCOUNTING STANDARD RELATING TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS AND PRESCRIBES A RECOGNITION THRESHOLD 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. THE IMPLEMENTATION OF THIS STANDARD HAD NO IMPACT ON THEM UNIVERSITY'S FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN SPLIT INTEREST AGREEMENT 128,717. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANTS & FINANCIAL ASSISTANCE NETTED AGAINST TUITION REVENUE 47,448,607. COST OF GOODS SOLD -3,315,074. BOARD DESIGNATED UNRESTRICTED SPENDING 10,301. PART XII, LINE 2D - OTHER ADJUSTMENTS: BOARD DESIGNATED UNRESTRICTED SPENDING -10,301. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS & FINANCIAL ASSISTANCE NETTED AGAINST TUITION REVENUE 47,448,607. COST OF GOODS SOLD -3,315,074. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE UNIVERSITY PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POSITION IN ALL MAJOR PUBLICATIONS, INCLUDING THOSE RELATED TO ADMISSION AND STUDENT SERVICES AND HAMLINE MAGAZINE AS WELL AS ON THE UNIVERSITY WEBSITE HOMEPAGE. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES BOTH FEDERAL AND STATE FUNDING. 1 EAST ASIA AND THE PACIFIC 0 0 GRANTS TO RECIPIENTS 18000 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTS TO RECIPIENTS 9000 SUB-SAHARAN AFRICA 0 0 GRANTS TO RECIPIENTS 23000 SOUTH ASIA 0 0 GRANTS TO RECIPIENTS 65200 NORTH AMERICA 0 0 GRANTS TO RECIPIENTS 62250 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAMS AND PROFESSIONAL DEVELOPMENT 27537 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAMS AND PROFESSIONAL DEVELOPMENT 22147 NORTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAMS AND PROFESSIONAL DEVELOPMENT 4063 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAMS AND PROFESSIONAL DEVELOPMENT 1604 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAMS AND PROFESSIONAL DEVELOPMENT 60609 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 4397158 0 0 0 0 0 0 231197 4459371 4690568 EDUCATIONAL FINANCIAL ASSISTANCE EAST ASIA AND THE PACIFIC 2 18000 WIRE TRANSFER N/A N/A EDUCATIONAL FINANCIAL ASSISTANCE EUROPE (INCLUDING ICELAND & GREENLAND) 1 9000 WIRE TRANSFER N/A N/A EDUCATIONAL FINANCIAL ASSISTANCE SUB-SAHARAN AFRICA 1 23000 WIRE TRANSFER N/A N/A EDUCATIONAL FINANCIAL ASSISTANCE SOUTH ASIA 2 65200 WIRE TRANSFER N/A N/A EDUCATIONAL FINANCIAL ASSISTANCE NORTH AMERICA 2 62250 WIRE TRANSFER N/A N/A 0 0 0 0 1 0 PART I, LINE 2: THE FINANCIAL AID OFFICE DETERMINES STUDENTS ELIGIBILITY FOR INSTITUTIONAL SCHOLARSHIPS ACCORDING TO THE UNIVERSITY'S ESTABLISHED CRITERIA WHICH FOLLOWS FEDERAL AND STATE GUIDELINES FOR AWARDING ANY GRANT FUNDS. THERE IS AN ANNUAL AUDIT TO ENSURE COMPLIANCE WITH THESE REGULATIONS. PART I, LINE 3: THE ACCRUAL METHOD IS BEING USED TO ACCOUNT FOR FOREIGN EXPENDITURES. X X X X X 1 EVERTRUE 330 CONGRESS STREET 2ND FLOOR BOSTON MA 02210 COMMUNICATIONS/MARKETING 0 0 30800 -30800 GIVECAMPUS 99 M ST SE 223 WASHINGTON DC 20003 COMMUNICATIONS/MARKETING 0 0 5426 -5426 36226 -36226 AK CO MA MI MN NH OR PA SD WA 1 HAMLINE MIDWAY COALITION 1558 WEST MINNEHAHA AVE SAINT PAUL MN 55104 411395272 501(C)(3) 20000 0 N/A N/A GENERAL SUPPORT 1 0 GRADUATE TUITION & FEES & ASSISTANCE 170 239621 N/A N/A EDUCATIONAL SCHOLARSHIPS AND FINANCIAL ASSISTANCE FOR UNDERGRADUATE STUDENTS 1758 47011536 N/A N/A PART I, LINE 2: THE FINANCIAL AID OFFICE DETERMINES STUDENTS ELIGIBILITY FOR FEDERAL, STATE, AND INSTITUTIONAL SCHOLARSHIPS ACCORDING TO THE UNIVERSITY'S ESTABLISHED CRITERIA WHICH FOLLOWS FEDERAL AND STATE GUIDELINES FOR AWARDING ANY GRANT FUNDS. THERE IS AN ANNUAL AUDIT TO ENSURE COMPLIANCE WITH THESE REGULATIONS. THE UNIVERSITY DOES NOT MONITOR USAGE OF FUNDS FOR GRANTS TO OTHER ORGANIZATIONS. X X X X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 KATHLEEN MURRAY PRESIDENT 423922 0 30000 0 11430 0 23875 0 36477 0 525704 0 0 0 FAYNEESE MILLER PAST PRESIDENT 412146 0 0 0 5715 0 29883 0 15343 0 463087 0 0 0 CATHERINE WASSBERG VICE PRESIDENT & GENERAL COUNSEL 285882 0 0 0 4166 0 19774 0 3044 0 312866 0 0 0 MARCELA KOSTIHOVA DEAN OF COLLEGE OF LIBERAL ARTS 166865 0 0 0 869 0 13685 0 32042 0 213461 0 0 0 JILLIAM PETERSON EXECUTIVE DIRECTOR - VPPRC 170898 0 0 0 266 0 10182 0 21942 0 203288 0 0 0 ANDY RUNDQUIST INTERIM PROVOST 185712 0 0 0 889 0 13929 0 491 0 201021 0 0 0 HEIDI FISHER VP OF DEVELOPMENT 163311 0 0 0 1481 0 12623 0 21728 0 199143 0 0 0 L DEVRIESE DIRECTOR OF GLOBAL ENGAGEMENT 173437 0 0 0 353 0 4660 0 19306 0 197756 0 0 0 STANLEY SANDIFORD ASSOCIATE GENERAL COUNCIL 156171 0 0 0 1790 0 10326 0 15165 0 183452 0 0 0 PATTI KLEIN-KERSTEN VP & DEAN OF STUDENTS 147968 0 0 0 1326 0 11477 0 14319 0 175090 0 0 0 SUSAN KERRY VP FOR FINANCE & ADMIN / CFO 134050 0 0 0 19894 0 10063 0 4066 0 168073 0 0 0 PART I, LINE 1A FIRST CLASS TRAVEL EXPENSES FOR THE PRESIDENT WERE PAID AND WERE NOT INCLUDED IN TAXABLE COMPENSATION. TRAVEL FOR COMPANIONS FOR THE PRESIDENT WAS PAID AND WAS NOT INCLUDED IN TAXABLE COMPENSATION. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS FOR THE PRESIDENT WERE PAID AND WERE INCLUDED IN TAXABLE COMPENSATION. RESIDENCE FOR PERSONAL USE WAS PROVIDED TO THE PRESIDENT AND WAS NOT INCLUDED IN TAXABLE COMPENSATION. SOCIAL CLUB DUES FOR THE PRESIDENT WERE PAID AND WERE NOT INCLUDED IN TAXABLE INCOME. PERSONAL SERVICES FOR THE PRESIDENT WERE PAID AND WERE NOT INCLUDED IN TAXABLE INCOME. A MN HIGHER EDUCATION FACILITIES AUTHORITY 410988525 2017-12-06 38753794 DEFEASE TWO PRIOR BONDS AND ADD CONSTRUCTION FUNDING 0 0 0 B MN HIGHER EDUCATION FACILITIES AUTHORITY 410988525 2021-06-29 9725000 REFUND PRIOR BOND AND CONSTRUCTION PROJECT 0 0 0 A 5610000 38753794 2435791 347859 6003619 29966566 2018 1 0 1 1 B 3285000 9725000 91000 6659000 2975000 2022 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: MN HIGHER EDUCATION FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 11/22/2022 X 26 1371991 FMV 0 0 1 0 PART I, COLUMN (B): COLUMN (B) REPORTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 1A THE BOARD OF TRUSTEES SHALL HAVE AN EXECUTIVE COMMITTEE, ALL OF WHOM SHALL BE VOTING TRUSTEES. THE MEMBERS OF THE EXECUTIVE COMMITTEE SHALL INCLUDE THE CHAIR, VICE CHAR, SECRETARY, TREASURER AND EACH CHAIR OF THE BOARD STANDING COMMITTEE. IN ADDITION, ONE OR TWO TRUSTEES MAY BE NOMINATED BY THE COMMITTEE CHARGED WITH TRUSTEESHIP MATTERS AND ELECTED BY THE BOARD TO SERVE IN AT-LARGE POSITIONS ON THE EXECUTIVE COMMITTEE. THE PURPOSE OF THE FUNCTIONS OF THE EXECUTIVE COMMITTEE ARE: (1) TO HELP THE PRESIDENT TO ADDRESS BUSINESS BETWEEN REGULAR BOARD MEETINGS; (2) TO ASSIST THE CHAIR AND THE PRESIDENT WITH THEIR JOINT RESPONSIBILITY TO HELP THE BOARD FUNCTION EFFECTIVELY AND EFFICIENTLY BY SUGGESTING BOARD MEETING AGENDA ITEMS AND PERIODICALLY ASSESSING THE QUALITY OF COMMITTEE WORK; (3) TO REVIEW AS NEEDED SIGNIFICANT COMPENSATION, INCENTIVE AND BENEFIT PLANS FOR UNIVERSITY EMPLOYEES AND (4) TO PERFORM AN ANNUAL EVALUATION OF THE PRESIDENT, AND MAKE RECOMMENDATIONS TO THE BOARD OF TRUSTEES REGARDING THE PRESIDENT'S COMPENSATION. DURING INTERVALS BETWEEN MEETINGS OF THE BOARD OF TRUSTEES AND SUBJECT TO THE CONTROL AND DIRECTION OF THE BOARD OF TRUSTEES, AN 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 UNIVERSITY, PROVIDED THAT THE FOLLOWING MATTERS SHALL BE RESERVED FOR THE BOARD: PRESIDENTIAL SELECTIONS AND TERMINATION; TRUSTEE NOMINATIONS AND ELECTIONS OF OFFICERS OF THE BOARD; CHANGES IN INSTITUTIONAL MISSION AND PURPOSES; AMENDMENTS TO THE ARTICLES OF INCORPORATION OR BYLAWS; INCURRING OF CORPORATE INDEBTEDNESS; SALE OF UNIVERSITY ASSETS OR TANGIBLE PROPERTY; ADOPTION OF THE ANNUAL BUDGET; AND CONFERRAL OF DEGREES. THE BOARD OF TRUSTEES MAY ACT TO FURTHER LIMIT THE DELEGATION OF AUTHORITY OF THE EXECUTIVE COMMITTEE. IN ADDITION TO ITS AUTHORITY TO TAKE ACTION ON MATTERS THAT CANNOT OR SHOULD NOT BE DEFERRED TO THE BOARD'S NEXT SCHEDULED MEETING, THE EXECUTIVE COMMITTEE SHALL OVERSEE THE WORK OF BOARD COMMITTEES, AND OVERSEE THE UNIVERSITY'S PLANNING PROCESS AND PROGRESS ON PLANNING GOALS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS REVIEWED BY MANAGEMENT. THE AUDIT SUBCOMMITTEE AND THE BOARD OF TRUSTEES REVIEWED A PUBLIC INSPECTION VERSION OF THE FORM 990 PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE TRUSTEES, LIFE TRUSTEES, AND OFFICERS OF THE ORGANIZATION ARE ANNUALLY REQUIRED TO COMPLETE AND SIGN A DISCLOSURE FORM INFORMING THE BOARD OF TRUSTEES OF ANY POTENTIAL CONFLICTS OF INTEREST THEY MAY HAVE A MATERIAL, FINANCIAL, OR OTHER INTEREST IN. WHEN THE UNIVERSITY ENTERS INTO A CONTRACT OR TRANSACTION THAT MAY HAVE A CONFLICT OF INTEREST WITH A COVERED MEMBER, THIS ISSUE IS BROUGHT TO THE BOARD TO BE REVIEWED. DURING THESE PROCEEDINGS, ALL MATERIAL FACTS AS TO THE CONTRACT OR TRANSACTION ARE REVIEWED BY THE BOARD OF TRUSTEES AND FULLY DISCLOSED BY THE COVERED MEMBER. THEN THE BOARD OF TRUSTEES MUST AUTHORIZE, APPROVE, OR RATIFY THE CONTRACT OR TRANSACTION WITHOUT THE VOTE OF THE COVERED MEMBER. THE BOARD MUST DETERMINE IF THE TRANSACTION IS IN GOOD FAITH AND A MAJORITY OF THE MEMBERS MUST VOTE TO APPROVE THE TRANSACTION OR CONTRACT. THE PROCEEDINGS ARE THEN RECORDED IN THE MINUTES OF THE BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 15A THE DETERMINATION OF COMPENSATION FOR THE PRESIDENT INCLUDED A REVIEW AND APPROVAL BY THE EXECUTIVE COMMITTEE BOARD OF TRUSTEES. THE COMMITTEE REVIEWS COMPARABILITY DATA, SUCH AS COMPENSATION FROM PEER INSTITUTIONS IF REQUESTED BY THE COMMITTEE. THE DELIBERATION AND DECISION OF THE COMPENSATION IS LOCATED IN THE MEETING MINUTES. THE LAST INDEPENDENT REVIEW WAS LAST CONDUCTED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY'S GOVERNING DOCUMENTS ARE AVAILABLE AT THE MINNESOTA SECRETARY OF STATE'S OFFICE. THE UNIVERSITY'S AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON ITS WEBSITE. THE UNIVERSITY'S FORM 990 IS AVAILABLE UPON REQUEST. THE UNIVERSITY'S CONFLICT OF INTEREST POLICY IS AVAILABLE TO THE PUBLIC ON ITS WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN SPLIT INTEREST AGREEMENT 128,717. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR.