2012-04-11T14:24:05-05:00 2011-05-31 EIDE BAILLY LLP 24 2ND AVE SW PO BOX 430 ABERDEEN SD 574020430 990 2010-06-01 460280847 Presentation College PRES 6052298451 1500 North Main Street Aberdeen SD 57401 Margaret Huber 6052298451 2012-04-09 1 Melissa White CPA 6052258783 2012-04-09 2010 2016-02-24 21:20:13Z Margaret Huber 1500 North Main Street Aberdeen SD 57401 17122974 0 0928 X www.presentation.edu X 1951 SD Welcoming people of all faiths, Presentation College challenges learners toward academic excellence and, in the Catholic tradition, the development of the whole person. 18 18 269 30 0 0 3305693 3184825 8249008 8234327 468838 380504 56381 42304 12079920 11841960 3132182 2734363 0 0 6239078 6423268 0 0 467681 3295626 3167494 12666886 12325125 -586966 -483165 24094744 25129639 6324385 6259679 17770359 18869960 Welcoming people of all faiths, Presentation College challenges learners toward academic excellence and, in the Catholic tradition, the development of the whole person. 0 0 8264326 7844261 Provided educational services at locations in Aberdeen, SD, Eagle Butte, SD, Fairmont, MN, Sioux Falls, SD and online to 422 full time and 296 part time students in Fall 2010 and 402 full time and 253 part time students in Spring 2011 as well as provided education to approximately 275 students through summer sessions in 2010. 2734363 2734363 Restricted expenditures - Federal, State and Private Student Aid 383386 429820 Auxiliary enterprises - campus housing, food service, bookstore, and Strode facility 11382075 1 1 0 1 0 0 0 0 1 1 0 1 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 34 0 1 269 1 0 0 0 0 0 1 1 0 0 0 0 X 18 18 0 0 0 0 0 1 1 1 1 0 1 1 1 1 1 1 0 1 1 1 0 MN X Cathy Hall 6052298453 1500 N Main St Aberdeen SD 57401 Stacy Levsen 5.00 X X 0 0 0 Larry Frost 2.00 X X 0 0 0 Julie Johnson 2.00 X X 0 0 0 Larry Wirebaugh 2.00 X 0 0 0 Tom Appletoft 2.00 X 0 0 0 Joan Bitz 2.00 X 0 0 0 Sr Joan Marie Brandner PBVM 2.00 X 0 0 0 Sr Francene Evans PBVM 2.00 X 0 0 0 Sr Ruth Geraets PBVM 2.00 X 0 0 0 Sr Annrita Johnson PBVM 2.00 X 0 0 0 Bruce Johnson 2.00 X 0 0 0 Kyle Kary 2.00 X 0 0 0 Joseph Kurtzman 2.00 X 0 0 0 John Lemke 2.00 X 0 0 0 Deacon Peter Mehlhaff 2.00 X 0 0 0 Donna Rae Petersen 2.00 X 0 0 0 Sr Patricia Prunty PBVM 2.00 X 0 0 0 Jim Thares 2.00 X 0 0 0 Dr Lorraine Hale 40.00 X 0 0 0 Cathy Hall 40.00 X 70804 0 20513 JoEllen Friederichsen 40.00 X 73529 0 18453 Bob Schuchardt 40.00 X 68169 0 16085 Lori Harmel 40.00 X 20576 0 11077 Dr James Johnson 40.00 X 58781 0 14530 291859 0 80658 0 0 0 0 0 11440 1476174 1697211 11733 3184825 Student Tuition/Fees 611600 7812999 7812999 Auxiliary Enterprises 611710 390066 390066 31262 31262 8234327 382476 382476 5828 5828 5828 5828 4924938 1500 4928410 -3472 1500 -1972 -1972 16250 11440 19528 -3278 -3278 372830 333076 39754 39754 11841960 8274081 0 383054 2734363 2734363 570102 433616 100348 36138 4604863 4181157 168824 254882 174724 174724 716851 617009 64095 35747 356728 327233 15042 14453 12237 3059 4895 4283 34100 34100 1400 350 560 490 210378 207921 2438 19 169712 160482 9230 927751 843829 39003 44919 129455 129455 436924 436509 415 256468 224594 822 31052 66123 52932 4215 8976 218089 213410 4679 473969 473969 48082 48082 Bad Debt Expense 48954 18160 30794 Direct Student Expense 36478 36478 Orientation 25527 25527 Commencement 23933 23933 47914 15283 5139 27492 12325125 11382075 475369 467681 267282 2545809 406586 729717 391038 349215 85341 94389 150524 141689 15816879 9266505 6414170 6550374 14703254 13218127 5000 5000 1585765 1433848 85784 61471 24094744 25129639 595606 757844 427561 386416 4401810 4235060 43488 58903 47000 75251 808920 746205 6324385 6259679 X 2508685 8119327 7788489 3173720 7473185 7576913 17770359 18869960 24094744 25129639 X -483165 1582766 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 1400 0 0 0 1400 0 Explanation of Other Lobbying Activities: Part II-B, Line 1i: Shared costs of paid lobbyist through SD Federation of Independent Colleges for lobbying at state of South Dakota level for scholarship programs benefitting private colleges. 0 1 8819079 103728 1020356 263575 9679588 7916805 151734 1014070 263530 8819079 8686540 358505 -862075 266165 7916805 0.00000 0.78300 0.21700 0 0 41868 41868 10966381 5821794 5144587 4095804 3444711 651093 712826 712826 6550374 Student Loans Receivable, Net of Allowance 1433848 C 1433848 Federal Student Loans 563949 Annuities Payable 182256 746205 11841960 12325125 -483165 1599127 -16361 1582766 1099601 13792191 1599127 1599127 12193064 -351104 -351104 11841960 12676229 351104 351104 12325125 0 12325125 Part IV, Line 2b: The College maintains student suite deposits as well as agency accounts for various student organizations and college chartered clubs. Description of Intended Use of Endowment Funds: Part V, Line 4: The endowment funds are used for institutional scholarships and grants and support of college programs. Description of Uncertain Tax Positions Under FIN 48: Part X: The College is a nonprofit organization that is exempt from federal income tax under Internal Revenue Code Section 501(c)(3). In accordance with the provisions of FASB Accounting Standards Codification Topic ASC 740-10 (previously Financial Interpretation No. 48, Accounting for Uncertainty in Income Taxes), the College will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred. The College is no longer subject to federal tax examinations by tax authorities for the years before 2008 and state examinations for years before 2008. Part XI, Line 8 - Other Adjustments: Transfer within Net Assets - Annuity Payments -20,625. Change in Split-Interest Agreements 4,264. Part XII, Line 4b - Other Adjustments: Special events direct expenses -19,528. Cost of sales expense recorded in revenue -333,076. Gain on disposal of assets 1,500. Part XIII, Line 2d - Other Adjustments: Cost of sales expense recorded in revenue 333,076. Special events direct expenses 19,528. Gain on disposal of assets -1,500. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Explanation of Nondiscriminatory Policy Publication Schedule E, Part I, Line 3 Publicized in newspapers and college catalogs. Explanation of Government Financial Assistance Schedule E, Part I, Line 6 Financial aid is received by the College from the US Department of Education and US Department of Health and Human Services based on students' eligibility for grants or loans. The College also receives an administrative cost allowance from the US Department of Education for the College's participation in the Pell, SEOG, and Workstudy programs. Black & White Ball 12200 4800 7400 3628 1500 2137 Mardi Gras 15490 6640 8850 4549 1200 6514 27690 11440 16250 8177 2700 8651 19528 -3278 1 Scholarships and Grants 624 2734363 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: The scholarships and grants are awarded to students to be used for educational expenses at the College including tuition, fees, and books. The awards are allocated directly to each student's account. City of Aberdeen 466000010 003252BJ1 2010-04-30 4401540 Refund the August 3, 1999 Issue 0 0 0 170000 4401540 376250 88031 3937259 2010 1 0 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0 0 Form 990, Part VI, Section A, line 7a More than one-half of the board of trustees shall be members (and/or appointed representatives of members) of the Congregation of the Sisters of the Presentation of the Blessed Virgin Mary of Aberdeen, South Dakota. Form 990, Part VI, Section A, line 7b The following board of trustee decisions are subject to the Congregation of the Sisters of the Presentation of the Blessed Virgin Mary of Aberdeen, SD corporate board approval: - Selection, appointment, or removal of the College President - Changes or adoption of a statement of mission, purpose or philosophy of Presentation College. - Amendment to the Articles of Incorporation or Bylaws - to establish or delete a department or educational program - to establish or change unbudgeted monetary personnel policies and wage administration and benefit programs - plans for raising additional funds from sources outside the operating income. - grant application approval - expenditures exceeding $10,000 or an aggregate total of $25,000 or more, not including the annual budget - approval of consultants over $5,000 - unbudgeted contractual agreements to purchased services over $5,000 - structural changes in and expansion of the physical plant and construction of new buildings - acquisitions, transfers, encumbrances or alienations of property - describe and set forth the authority delegated to the college president - creation or dissolution of all subsidiary organizations of the Board of Trustees, including all governing documents Form 990, Part VI, Section B, line 11 Upon receipt of the completed return, the CFO reviews the return with the President. Copies are also forwarded to all members of the Finance & Audit Committee of the Board of Trustees for review. The CFO reviews the tax return with them at the first meeting following completion of the return. Form 990, Part VI, Section B, line 12c The board members are required to disclose at every board meeting any conflicts. A statement is handed out prior to each board meeting and must complete with any elements that could be a potential conflict of interest. This becomes part of the permanent board proceeding record. Form 990, Part VI, Section B, line 15 President - Comparison with regional salaries of similar college presidents and based on performance. Performance review is done annually. For the College administrators, including the CFO, salaries are determined by the President based on market comparables for institutions of similar size and nature. Salaries are part of the budget, which is approved by the board of trustees. Market comparisons are performed each year that raises are given. Form 990, Part VI, Section C, line 19 These documents are not available to the general public. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized gains on investments: 1,599,127. Transfer within Net Assets - Annuity Payments -20,625. Change in Split-Interest Agreements 4,264. Total to Form 990, Part XI, Line 5: 1,582,766. Sisters of the Presentation of Blessed Virgin Mary 1500 N 2nd street Aberdeen SD 57401 460253283 Sisters of the PBVM is the College's sponsor organization SD 501(c)(3) 1 N/A 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 1 1 0 0