2011-04-13T15:13:00-05:00 2010-05-31 EIDE BAILLY LLP 24 2ND AVE SW PO BOX 430 ABERDEEN SD 574020430 990 2009-06-01 460280847 Presentation College PRES 6052298451 1500 North Main Aberdeen SD 57401 Dr Lorraine Hale 6052298451 2011-04-13 1 Melissa White CPA 6052258783 2011-04-13 2009 2016-02-24 21:20:13Z Dr Lorraine Hale 1500 North Main Aberdeen SD 57401 14226429 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. 19 19 295 30 0 0 4376104 3305693 8548652 8249008 197329 468838 75207 56381 13197292 12079920 2701849 3132182 0 6529196 6239078 0 408740 3423074 3295626 12654119 12666886 543173 -586966 22995166 24094744 6101615 6324385 16893551 17770359 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 7742080 7718966 Provided educational services at locations in Aberdeen, SD, Eagle Butte, SD, Fairmont, MN and online to 442 full time and 258 part time students in Fall 2009 and 433 full time and 268 part time students in Spring 2010 as well as provided education to 290 students through summer sessions in 2009. 3132182 3132182 Restricted expenditures - Federal, State and Private Student Aid 357663 514081 Auxiliary enterprises - campus housing and food service, Strode facility, and bookstore 447024 86195 Early Childhood Education and Other Programs 447024 86195 11678949 1 1 0 0 0 0 0 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 1 0 0 0 0 1 0 0 0 1 38 0 1 295 1 0 0 0 0 0 1 1 0 0 0 19 19 0 0 0 0 0 1 1 1 1 0 1 1 0 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 Dean Marske 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 68045 0 19588 68045 0 19588 0 0 0 0 0 16393 2046478 1242822 52386 3305693 Student Tuition/Fees 900099 7718966 7718966 Auxiliary Enterprises 611710 443847 443847 Other 900099 86195 86195 8249008 518741 518741 4800 4800 4800 4800 1725812 1775715 -49903 -49903 -49903 827 16393 19480 -18653 -18653 421548 351314 70234 70234 12079920 8319242 0 454985 3132182 3132182 227039 227039 4770351 4476359 46717 247275 192100 171865 12370 7865 723658 644927 41548 37183 325930 298778 13617 13535 16332 4083 6533 5716 31025 31025 289176 285782 2375 1019 161208 151712 9496 855092 742806 60744 51542 62213 62213 415055 376863 38192 237711 217026 233 20452 77731 71697 387 5647 288153 282310 5843 484460 484460 45189 45189 Loss on bond refinancin 138678 138678 Miscellaneous 47837 43374 4256 207 Bad Debt Expense 43129 43129 ECP program expense 32603 32603 Orientation, Student ac 31219 31219 38815 30012 8803 12666886 11678949 579197 408740 340701 267282 394978 406586 285791 391038 89501 85341 143207 150524 15229094 8814924 6225128 6414170 13712743 14703254 5000 5000 1798117 1585765 0 85784 22995166 24094744 509312 595606 409193 427561 4250000 4401810 12445 47000 920665 852408 6101615 6324385 X 2819537 2508685 6752563 7788489 7321451 7473185 16893551 17770359 22995166 24094744 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7916805 151734 1014070 263530 8819079 8686540 358505 -862075 266165 7916805 0.00000 1.00000 0.00000 0 0 41868 41868 10880553 5553545 5327008 3935662 3261379 674283 371011 371011 6414170 Student Loans Receivable, Net of Allowance 1585765 C 1585765 Federal Student Loans 622081 Student Deposits 43488 Annuities Payable 186839 852408 12079920 12666886 -586966 1475946 -12172 1463774 876808 13926659 1475946 1475946 12450713 -370793 -370793 12079920 13037679 370793 370793 12666886 0 12666886 Part V, Line 4: Description of Intended Use of Endowment Funds: The endowment funds are used for institutional scholarships and grants and support of college programs. Part X: Description of Uncertain Tax Positions Under FIN 48: The College is a nonprofit organization that is exempt from federal income tax under Internal Revenue Code Section 501(c)(3). The College has adopted provisions of FASB Accounting Standards Codification Topic ASC 740-10 (previously Financial Interpretation No. 48, Accounting for Uncertainty in Income Taxes), on June 1, 2009. The implementation of this standard had no impact on the financial statements. As of both the date of adoption, and as of May 31, 2010, the unrecognized tax benefit accrual was zero. 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 2007 and state examinations for years before 2007. Part XI, Line 8 - Other Adjustments: Transfer within Net Assets - Annuity Payments: -17474. Change in Split-Interest Agreements: 5302. Part XII, Line 4b - Other Adjustments: Special events direct expenses: -19480. Cost of sales expense recorded in revenue: -351313. Part XIII, Line 2d - Other Adjustments: Cost of sales expense recorded in revenue: 351313. Special events direct expenses: 19480. 1 1 1 Publicized in newspapers and college catalogs. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 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. 1 Black & White Ball 10917 4691 6226 9464 1500 10917 4691 6226 9464 1500 10964 -4738 1 Scholarships and grants 645 3132182 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, 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 4401540 376250 3937259 88031 2010 1 0 1 1 0 0 0 0 0 0 X Classroom supplies 5 5787 Cost X Paint and office supplies 9 2529 Cost X Improvements to baseball field 1 27815 Cost X Travel Expenses for Baseball 1 10179 Cost X Improvements to soccer fieldhouse 1 8605 Cost 0 1 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. 2010 - done on an annual basis. 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. 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 1 0 0 1 0 1 1 0 0