2011-03-07T10:29:49-06:00 2010-06-30 EIDE BAILLY LLP 200 EAST 10TH ST PO BOX 5125 SIOUX FALLS SD 571175125 990 2009-07-01 460283336 Mount Marty College MOUN 6056681514 1105 West 8th Street Yankton SD 57078 Daisy Halvorson 6056681514 2011-02-23 1 Laurie Hanson 6053391999 2011-02-23 2009 2016-02-24 21:20:13Z Dr Carrol Krause 1105 West 8th Street Yankton SD 57078 18310415 0 X www.mtmc.edu X 1936 SD The institution is a private, Catholic college of higher learning. 29 29 549 31 0 0 1672750 2207658 12250098 12403619 -230842 -1278199 1089565 992214 14781571 14325292 3762269 4034523 0 7415600 7184867 36000 0 0 4317893 4397576 15531762 15616966 -750191 -1291674 26687676 29706161 3795340 5320674 22892336 24385487 Mount Marty College, an academic community in the Catholic Benedictine liberal arts tradition, prepares students for a contemporary world of work, service to the human community, and personal growth. The institution is a private, Catholic college of higher learning. 0 0 14764149 13381322 Providing educational services to approximately 1200 students. 14764149 1 1 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 46 0 1 549 1 0 0 0 0 0 1 1 0 29 29 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X Mrs Daisy Halvorson 6056681566 1105 West 8th Street Yankton SD 57078 S Jeanne Weber 2.50 X X 0 0 0 Jean Reed 2.50 X X 0 0 0 S Penny Bingham 2.50 X X 0 0 0 Robert Kathol 2.50 X X 0 0 0 Robert Zylstra 1.30 X 0 0 0 S Rosemary Weber 1.30 X 0 0 0 Bruce Teachout 1.30 X 0 0 0 S Francine Streff 1.30 X 0 0 0 Marlene Stetz 1.30 X 0 0 0 Larry Schmaltz 1.30 X 0 0 0 Jeff Wolfgram 1.30 X 0 0 0 Susan Reese 1.30 X 0 0 0 Marlene Rance 1.30 X 0 0 0 Kathy Nordstrom 1.30 X 0 0 0 S Martin Mergen 1.30 X 0 0 0 S Marietta Kerkvliet 1.30 X 0 0 0 S Jennifer Kehrwald 1.30 X 0 0 0 Angeline Keating 1.30 X 0 0 0 Kitty Higgins 1.30 X 0 0 0 Arlene Heine 1.30 X 0 0 0 Tom Harmon 1.30 X 0 0 0 Rudy Gerstner 1.30 X 0 0 0 Robert Pulscher 1.30 X 0 0 0 Michael Healy 1.30 X 0 0 0 Ramona Fallon 1.30 X 0 0 0 Fred Ertz 1.30 X 0 0 0 JP Duniphan 1.30 X 0 0 0 Peggy Frank 1.30 X 0 0 0 Msgr James Doyle 1.30 X 0 0 0 Chad Ekroth 1.30 X 0 0 0 James T Barry 60.00 X 138044 0 36115 Dr Carrol Krause 60.00 X 0 0 0 Daisy Halvorson 60.00 X 84872 0 4244 Alfred Lupien 40.00 X 123600 0 6180 Larry Dahlen 40.00 X 111968 0 17218 458484 0 63757 3 0 1 0 Aramark 1101 Market Street Philadelphia PA 19107 Food Service 674957 High Plains Technology 5105 S Crossing Place Ste 1 Sioux Falls SD 57108 IT Infrastructure 315917 Welfl Construction 800 W 23rd Street Yankton SD 57078 Building Constructions 110859 Datatel Incorporated 4375 Fair Lakes Court Fairfax VA 22033 IT Software/Maintenance 102598 4 435432 1772226 2207658 TUITION, FEES, ETC. 611710 12403619 12403619 12403619 422827 422827 14511 14511 14511 14511 1083905 2784931 -1701026 -1701026 -1701026 2177895 1200192 977703 977703 14325292 13381322 0 -1263688 4034523 4034523 280328 280328 5814797 5756649 58148 224295 213080 11215 407234 395017 12217 458213 412392 45821 107349 69730 37619 47131 13081 34050 172228 172228 96921 96921 534840 534840 164453 164453 376146 282110 94036 126302 123881 2421 26479 26479 1107851 830889 276962 Institutional Support 867922 867922 Equipment Rental and Ma 412793 412793 Student Life 143056 143056 Other Expenses 131370 131370 Printing and Publishing 82735 82735 15616966 14764149 852817 0 4692059 3543827 558990 658282 1708731 1562819 56444 53646 410194 414175 23831213 11895472 9751718 11935741 9509540 11537671 26687676 29706161 965346 1132322 783748 785904 1029780 5711 374637 2040535 1998031 3795340 5320674 X 10428845 11635559 192965 236697 12270526 12513231 22892336 24385487 26687676 29706161 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11920576 242705 1425501 550000 107409 12931375 14496722 186012 -2742976 43764 62944 11920576 1.00000 0 0 936522 936522 17605872 8739801 8866071 4036132 2527872 1508260 1252687 627799 624888 11935741 Equities 6622706 F Bonds 3842606 F Government Securities 1072359 F 11537671 Refundable US Government Student Loans 1585463 Deposits Payable 87942 Charitable Remainder Unitrust Liability 224626 Contracts Payable 100000 1998031 14325292 15616966 -1291674 2784825 2784825 1493151 14326560 2784825 2784825 11541735 2783557 2783557 14325292 12833409 0 12833409 2783557 2783557 15616966 Part V, Line 4: Description of Intended Use of Endowment Funds: The institution uses growth from the endowment funds according to the donors wishes. The amount of growth spent is determined according to the Colleges investment policy. The policy states that the distributions may be made up to 4% of the average market value of the total endowment, calculated over 12 rolling quarters. Current intended uses are Funded Named Scholarships, capital expenditures, endowed-chairs, enhancing the Institutions mission, and maintaining infrastructures. Part X: Description of Uncertain Tax Positions Under FIN 48: The College has implemented the provisions of FASB Accounting Standards Codification Topic (ASC) 740-10 (formerly Financial Interpretation No. 48, Accounting for Uncertainty in Income Taxes). The College undergoes an annual analysis of its various tax positions, assessing the liklihood of those positions being upheld upon examination with relevant tax authorities, as defined by ASC 740-10. The implementation of this standard has had no impact on the finacial statements. For the years ended June 30, 2010 and 2009, the unrecognized tax benefit accrual was zero. Part XII, Line 4b - Other Adjustments: Scholarships and Student Fees (Reported @ Net in Audited Financials): 3983749. Cost of Goods Sold: -1200192. Part XIII, Line 4b - Other Adjustments: Scholarships and Student Aid (Reported @ Net in Audited Financials): 3983749. Cost of Goods Sold: -1200192. 1 1 1 College Catalog, Newspaper, and Broadcast Media 1 1 1 1 0 0 0 0 0 0 0 0 1 0 THE COLLEGE RECEIVED AID AND ASSISTANCE FROM GOVERNMENT AGENCIES THROUGH VARIOUS GRANTS AND CONTRACTS. THESE GRANTS AND CONTRACTS ARE USED IN SUPPORT OF DIFFERENT PROGRAMS AT THE COLLEGE, SUCH AS SUPPLEMENTAL EDUCATION OPPORTUNITIES, WORK STUDY GRANTS, AND ADMINISTRATION OF SUCH PROGRAMS. 1 1 Employee Tuition Waiver 23 110747 Book Value Scholarships 445 2080069 Book Value Student Family Discounts 33 45348 Book Value Religious Discounts 1 1708 Book Value Talent Awards 62 64745 Book Value Athletic Grants 171 636361 Book Value Need Based Grants 325 681286 Book Value Special Needs 49 80981 Book Value ROTC 1 5366 Book Value FSEOG and Mount Marty College Matching amount 171 204345 Book Value Teacher 9 34000 Book Value SD Equal Opportunity Scholarships 45 50500 Book Value America Reads 14 6962 Book Value America Counts 14 7364 Book Value Catholic Leadership 26 19500 Book Value LEAP 12 5241 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: The College has a number of federal and state grants. With the issuance of each award a temporarily restricted account is created in the database. Award letters are kept in a separate file with the primary contact information. If the grantee does not have eligibility the grant is not awarded. If the eligibility of the grantee has changed the institution returns the awarded funds. The grants are based on family income contributions, and/or academic standing, and/or athletic ability, and/or individual talent. X X X X 1 1 X X X X X X 0 0 0 0 0 0 0 0 0 James T Barry 138044 0 0 0 0 0 0 0 38111 0 176155 0 0 0 Part I, Line 1a The College paid for the President's spouce to travel with him on occasion. The College provided maid and grounds keeper services, and also paid for the President's membership at the local country club. X 2364 Cost/Thrift Store Value X 1 300 Fair Market Value X 1 400000 Fair Market Value X 1 1200 Fair Market Value X Golf Balls, Catering 1 616 Cost, Value 0 1 0 Form 990, Part VI, Section A, line 1 The Executive Trustee Committee includes the officers of the Board of Trustees, the past chair of the Trustees and the chairperson of each committee (Student Affairs and Enrollment Management, Institutional Advancement, Academic Affairs, Building and Grounds, Finance and the Audit Committee). The Executive Trustee Committee has broad authority to act on behalf of the board. At times, the Board of Trustees makes a motion during a board meeting assigning specific topics to the Executive Trustee Committee to research and act. Form 990, Part VI, Section A, line 2 Sister Rosemary Weber and Sister Jeanne Weber have a family relationship. Form 990, Part VI, Section A, line 6 The members of the corporation include the Monastery Prioress and those persons serving as members of the Monastery Council. Form 990, Part VI, Section A, line 7a The prioress of the sponsoring monastery is allowed to appoint a minimum of 5 members to the board and all members have final approval of all trustees. Form 990, Part VI, Section A, line 7b The Members have authority over actions to to be taken by the College as follows: (a) To approve the statements of philosophy, mission and objectives of the College; (b) To approve and act upon the sale, lease, transfer, exchange, disposition, pledge or alienation of real property or buildings and/or the acquisition of debt, pursuant to policies established by the Members; (c) To appoint the Board of Trustees of the College and to remove a Trustee at any time with or without cause, after seeking guidance from the Board. Pending a final decision of the Members, the Board of Trustees may suspend a Trustee by a vote of two-thirds of the remaining Trustees; (d) To approve amendments to the Articles of Incorporation of the College; (e) To amend the bylaws of the College; (f) To oversee the College's fiscal policies and to establish policies governing the College's financial position; (g) To receive the College's annual report; (h) To appoint and remove the President of the College, after seeking guidance from the Board of Trustees; (i) To approve and/or act upon the merger, consolidation or dissolution of the College; and (j) To adopt policies to effectuate the authorities reserved to the Members. Form 990, Part VI, Section B, line 11 The audit committee reviews the 990, and a recommendation is made to the full board. Form 990, Part VI, Section B, line 12c The Board of Trustees is responsible for monitoring conflicts and imposing restrictions on trustees when voting on issues that give rise to conflict. All trustees complete a disclosure annually. Disclosures are given to all trustees in the form of a report. A Trustee shall be considered to have a conflict of interest if the Trustee (1) has existing or potential financial or other interest that impair or appear to impair the Trustee's independent, unbiased judgment in the discharge of the Trustee's responsibilities to the College; or (2) is aware that a member of the Trustee's immediate family has financial or other interest that would impair or appear to impair the Trustee's independent judgement in the discharge of the Trustee's responsibilities to the College. Immediate family generally includes spouse, parent or step-parent, child or step-child, sibling or step-sibling, grandparent, and grandchild. Form 990, Part VI, Section B, line 15 President: A survey process is undertaken by the Board of Trustees, using Guidestar.org to determine appropriate levels of compensation. A written employment contract is put into place. CFO: An annual performance appraisal is done for the CFO, and a standard percentage increase is given based on the decision of the Board of Trustees. The percentage increase is the same for the CFO as it is for all other employees. A 1% compensation increase was allocated in for the year ended 6/30/10. Form 990, Part VI, Section C, line 19 These documents are available upon request. Benedictine Convent of Sacred Heart dba Sacred Heart Monastary 1005 W 8th Street Yankton SD 570783389 460224541 Religious Order SD 501(c)(3) Line 1 0 0 1 0 0 0 0 0 1 1 0 1 1 1 1 1 0 1