2011-04-07T13:17:26-05:00 2010-05-31 Baker Tilly Virchow Krause LLP 225 S 6th St Ste 2300 Minneapolis MN 55402 990 2009-06-01 411607453 Minneapolis College of Art & Design MINN 6128743700 2501 Stevens Ave S Minneapolis MN 55404 DANIEL SJOQUIST 6128743700 2011-03-31 1 6128764500 2011-03-31 2009 2016-02-24 21:20:13Z DANIEL SJOQUIST 2501 Stevens Ave S Minneapolis MN 55404 33980268 0 X www.mcad.edu X 1988 MN MINNEAPOLIS COLLEGE OF ART AND DESIGN (MCAD) EDUCATES INDIVIDUALS TO BE PROFESSIONAL ARTISTS AND DESIGNERS, EFFECTIVE LEADERS, AND ACTIVE CITIZENS AND, THROUGH THIS WORK AND OTHER ACTIVITIES, ADVANCES THE CULTURAL LIFE OF ITS COMMUNITY. TO ACHIEVE THIS MISSION, MCAD: CHALLENGES STUDENTS TO ACHIEVE THE HIGHEST LEVEL OF ARTISTIC CREATIVITY AND EXPRESSION, INTELLECTUAL UNDERSTANDING AND PROFESSIONAL DEVELOPMENT; PROVIDES A RIGOROUS STUDIO-BASED AND LIBERAL STUDIES PROGRAM FOR DEDICATED UNDERGRADUATE AND GRADUATE STUDENTS; OFFERS CONTINUING EDUCATION AND SPONSORS FELLOWSHIPS FOR PROFESSIONALS; PRESENTS EXHIBITIONS, LECTURES AND ENRICHMENT COURSES IN ART AND DESIGN FOR PEOPLE OF ALL AGES. 18 18 869 0 0 0 1419021 909285 22191244 22517308 485743 212518 277505 318049 24373513 23957160 4745274 5387380 0 12178657 12239147 0 317294 8563855 8185479 25487786 25812006 -1114273 -1854846 51082522 58724280 14242897 17107411 36839625 41616869 Minneapolis College of Art and Design (MCAD) educates individuals to be professional artists and designers, effective leaders, and active citizens and, through this work and other activities, advances the cultural life of its community. To achieve this mission, MCAD: challenges students to achieve the highest level of artistic creativity and expression, intellectual understanding and professional development; provides a rigorous studio-based and liberal studies program for dedicated undergraduate and graduate students; offers continuing education and sponsors fellowships for professionals; presents exhibitions, lectures and enrichment courses in art and design for people of all ages. 0 0 13533238 5387380 13165870 Instruction: - MCAD had a total of 725 students for fall semester and 721 students for spring, for an average student population of 723. Our FTE students were 692 for fall and 669 for spring term. MCAD graduated 164 students during the 09-10 year. - Collected and reviewed data for the MCAD assessment program, creating recommendations for curricular change, facilities upgrade, and faculty development. Approved by the Academic Affairs Committee of the Board. - Completed rewrite of Liberal Arts curriculum including new course numbers, learning objectives, and class methodologies.- Engaged faculty and Academic Cabinet in several key discussions regarding MCAD's new strategic plan, including staffing, new program development, and facilities upgrades.- Conceptualized and wrote 425,000 grant for NEA scholarship fund for community children to attend MCAD's summer programs.- Note also that program service revenue from tuition was not allocated to any specific program(s) and is thus overall reported on this line. 2628343 2557966 Student Affairs:- In an effort to reach more students with important health information, Student Affairs subscribed to Student Health 101, a monthly digital magazine aimed at college students. Approximately 200 students read the magazine each month. Based on that success, we applied for and received a grant from Park Nicollet to subscribe for the 2010-11 academic year.- Student Affairs staff worked with the Records Office and Academic Affairs to re-number all of the Liberal Arts courses. Courses are now in groups that reflect area of interest and class level.- Gallery 148 was launched in spring 2010. It is a student-run space dedicated to giving degree-seeking students a professional gallery experience.- There were more than 30 student-initiated clubs on the books for the 2009-10 academic year, an all-time high at MCAD. - Student Affairs staff coordinated and led a group of 13 students to Guatemala for a learning/making trip. They worked with school officials and students at Miguel Angel Asturias Academy in order to create a mural for the central courtyard of the school. 1802230 1754098 Academic Support:- Conceptualized and wrote grant for $2000 to bring in an archivist to conceptualize new archival structures at MCAD. - Oversaw all operations surrounding the annual Art Sale, with a revenue of $218,000, which is reported as a special event revenue on Part VIII and on Schedule G in favor of a fuller disclosure.- Facilitated use of MCAD facilities by over 20 community groups, including: Italian Cultural Society, Nothern Lights, Adobe InDesign Users Group, Etc. 5180766 5305188 Other:- The campus bookstore, The Art Cellar, had sales of $545,000.- The college inaugurated its next President and celebrated this change over a lovely weekend. This was the first inauguration in MCAD's history. 5180766 5305188 23144577 1 1 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 211 0 1 869 1 0 0 0 0 0 1 1 0 0 0 18 18 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 MN X Katherine Bengston 6128743700 2501 Stevens Ave S Minneapolis MN 55404 JAY COOGAN 35.00 X X 127737 0 15569 David Hartwell 1.00 X X 0 0 0 David Andreas 1.00 X 0 0 0 Bruce Bean 1.00 X 0 0 0 Uri Camarena 1.00 X 0 0 0 Dr Nathan Davis 1.00 X 0 0 0 MIKE KEEFE 1.00 X 0 0 0 Mary Ash Lazarus 1.00 X X 0 0 0 Cy DeCosse 1.00 X 0 0 0 Betsy Massie 1.00 X 0 0 0 Clinton Morrison 1.00 X 0 0 0 Clinton H Morrison 1.00 X 0 0 0 Craig Rice 1.00 X 0 0 0 Julie Snow 1.00 X 0 0 0 Robert Teslow 1.00 X 0 0 0 Missy Staples Thompson 1.00 X 0 0 0 Hideki Yamamoto 1.00 X 0 0 0 BILL THORNBURN 1.00 X 0 0 0 DAN SJOQUIST 35.00 X 97584 0 10127 PAMELA NEWSOME-PROCHNIAK 35.00 X 97771 0 11787 VINCENT LEO 35.00 X 112801 0 11353 SUSAN CALMENSON 35.00 X 91081 0 9041 William Mullen 35.00 X 83271 0 17746 JOAN OLSON 35.00 X 835 0 0 MICHAEL O'KEEFE 1.00 X 232095 0 17113 843175 0 92736 3 1 1 0 Je Dunn Construction 9855 West 78th Street Suite 270 Eden Prairie MN 55344 Parking Lot Contractor 986739 Sheffield Olson & McQueen INc ABC 119 PO Box 9192 Minneapolis MN 554809192 Benefits Administrator & Premiums 702445 Minneapolis Institute of Arts 2400 3rd Ave S Minneapolis MN 55404 PHYSICAL PLANT SERVICES 275979 Arthur J Gallagher Risk MGM SVC PO Box 71965 Chicago IL 606941965 Insurance Provider 198211 DON HARSTAD CO INC 7103 HIGHWAY 65 NE FRIDLEY MN 55432 FACILITIES CONTRACTOR 126027 9 2000 180360 726925 92026 909285 Tuition and Fees 611710 20329655 20329655 Housing Rental Income 611710 1031231 1031231 Auxiliary 611710 611785 611785 Sales Bookstore 611710 544637 544637 22517308 795180 795180 9276681 9859343 -582662 -582662 -582662 216000 2000 163765 52235 52235 Miscellaneous 900099 265814 265814 265814 23957160 22783122 0 264753 5387380 5387380 904167 796693 93028 14446 9229396 8132344 949594 147458 655120 577250 67404 10466 711328 626776 73187 11365 739136 651279 76048 11809 75001 75001 53800 53800 89024 89024 518149 378139 133154 6856 165052 145433 16982 2637 1281215 1128923 131822 20470 1018584 897510 104800 16274 885868 780570 91145 14153 171137 150795 17608 2734 233168 205453 23990 3725 571668 503717 58818 9133 589517 519444 60654 9419 189943 167365 19543 3035 Operation and Maintenan 1411145 1243409 145190 22546 Miscellaneous 380718 335464 39171 6083 Exhibition Expenses 293249 258392 30172 4685 Grant spending 258241 258241 25812006 23144577 2350135 317294 2037946 1383325 3195304 1982039 464000 272400 128497 128707 1045657 965451 313991 281850 41254 71441 24140232 10190701 12371003 13949531 28025863 37458542 2233872 11232 1225135 2219762 51082522 58724280 2488621 3213132 745005 705833 350946 387205 10500000 12665000 158325 136241 14242897 17107411 X 15065666 17261385 8501752 10396637 13272207 13958847 36839625 41616869 51082522 58724280 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 26312151 116180 6499349 -1300701 -573636 -1082 31052261 38730827 175624 -10717426 -1399731 -476061 -1082 26312151 0.29000 0.45000 0.26000 0 0 943378 943378 19946782 10190701 9756081 1132308 1132308 2117764 2117764 13949531 ADVANCE DEPOSITS 118698 ACTUARIAL LIABILITY ON ANNUITIES PAYABLE 17543 136241 23957160 25812006 -1854846 6633172 -1082 6632090 4777244 25277693 6633172 -5387380 1245792 24031901 89024 -163765 -74741 23957160 20500449 164847 164847 20335602 89024 5387380 5476404 25812006 Part V, Line 4: Description of Intended Use of Endowment Funds: 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. Part X: Description of Uncertain Tax Positions Under FIN 48: The Internal Revenue Service has determined that the College is exempt from federal income tax 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. In accordance with the accounting standard on Accounting for Uncertainty in Income Taxes, the College addresses the determination of whether tax benefits claimed on a tax return should be recorded in the financial statements. Under this guidance, the College may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merit of the position. Examples of tax positions include the tax-exempt status of the College and various positions related to the potential sources of unrelated business taxable income. There were no significant unrecognized tax benefits identified or recorded as liabilities during fiscal year 2010. Open tax years subject to examination by the U.S. and state taxing authorities are for the years 2007 to 2009, which statutes expire in 2010 to 2012, respectively. Part XI, Line 8 - Other Adjustments: ACTUARIAL Adjustment: -1082. Part XII, Line 2d - Other Adjustments: SCHOLARSHIPS AND GRANTS: -5387380. Part XII, Line 4b - Other Adjustments: Fundraising Event Expenses: -163765. Part XIII, Line 2d - Other Adjustments: FUNDRAISING EVENT EXPENSES: 163765. Actuarial Adjustment: 1082. Part XIII, Line 4b - Other Adjustments: SCHOLARSHIPS AND GRANTS: 5387380. 1 1 1 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. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 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. 1 Art Sale 218000 2000 216000 3000 160765 218000 2000 216000 3000 160765 163765 52235 1 SCHOLARSHIPS AND GRANTS PROVIDED AS FINANCIAL AID TO STUDENTS 693 5387380 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: 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. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 MICHAEL O'KEEFE 206648 0 0 0 25447 0 16033 0 1080 0 249208 0 0 0 Part I, Line 1a MCAD pays for membership dues to the Minneapolis Club for the president for the purpose of networking to help raise funds for the college. MHEFA SERIES 6-K 410988525 2006-07-01 7670000 IMPROVEMENTS 0 0 MHEFA SERIES 6-K 410988525 2009-11-24 2660000 PARKING LOT 0 0 7670000 613250 59494 6997256 2006 0 0 1 1 2660000 70021 2606000 2010 0 0 0 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 0 0 0 X 5 92026 Average High Low 0 0 1 0 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 who attends as ex-officio and does not vote, the officers of the board, and the immediate past board chair. The scope of the committee's authority is that it serves at the pleasure of the Board as its agent in helping the president to address nonessential business between regular Board meetings, and it suggests Board meeting agenda items and periodically assesses the quality of committee work. The committee has 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. In addition bylaws or Board policies may reserve other powers to 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 This form 990 was reviewed by tax counsel and subsequently by the finance chair and the VP of Finance. The Board of Trustees is provided the Form 990 after its filing, it's on the agenda, and is discussed for 15-30 min during a regular board meeting by the end of the current fiscal year. Form 990, Part VI, Section B, line 12c All board members and officers are subject to the following policy: Individuals who disclose a potential 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 the individuals with the conflict must leave the room and abstain from voting on the proposed transaction or arrangement. The person with the conflict will be out of the room aside from attending when the BOT wants to ask questions of them. An individual is 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 of 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 that of comparable presidents of similar institutions. The current president's contract began July 1, 2009. The VP of Administration reviews the comparability data for the other officers of the college. Their compensation is reviewed and approved by the president on an annual basis. Form 990, Part VI, Section C, line 19 They are available upon request in the Finance Office. Form 990 Part XI Line 2c: THERE HAS BEEN NO CHANGE TO EITHER THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.