2023-03-16T19:00:55-05:00 2022-06-30 941341042 FRANK RIMERMAN & CO LLP 1801 PAGE MILL ROAD PALO ALTO CA 94304 990 2021-07-01 462589747 MINERVA INSTITUTE FOR RESEARCH AND SCHOLARSHIP MINE 4153252059 14 MINT PLAZA FLOOR 3 SAN FRANCISCO CA 94103 NIKOLAUS PELKA CFO 4153252059 2023-03-10 1 NIKOLAUS PELKA 999009999 PRERNA JAGADA P01063809 6508458100 2023-03-10 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z X MINERVA UNIVERSITY MICHAEL MAGEE 14 MINT PLAZA FLOOR 3 SAN FRANCISCO CA 94103 48545579 0 X MINERVA.EDU X 2013 CA STIMULATING MEANINGFUL INNOVATION BY SUPPORTING THE DEVELOPMENT OF, AND ACCESS TO, TRANSFORMATIVE EDUCATIONAL PROGRAMS; BY WORKING TO IDENTIFY AND SUPPORT THE MOST PROMISING POTENTIAL STUDENTS REGARDLESS OF LOCATION OR CIRCUMSTANCES. 12 12 640 12 0 0 8551148 29964477 13847552 16674450 8405 25784 92955 118454 22500060 46783165 6182614 7708971 0 0 16330816 15416939 0 0 40958 7010507 8617772 29523937 31743682 -7023877 15039483 24774247 14539633 7941157 7225701 16833090 7313932 STIMULATING MEANINGFUL INNOVATION BY SUPPORTING THE DEVELOPMENT OF, AND ACCESS TO, TRANSFORMATIVE EDUCATIONAL PROGRAMS; BY WORKING TO IDENTIFY AND SUPPORT THE MOST PROMISING POTENTIAL STUDENTS REGARDLESS OF LOCATION OR CIRCUMSTANCES. 0 0 26783738 7706496 15853864 OPERATE AFFORDABLE, HIGH QUALITY EDUCATIONAL PROGRAMS LEADING TO AN UNDERGRADUATE DEGREE. TO ACCOMPLISH THIS, THE INSTITUTE IDENTIFIES STUDENTS, AWARDS SCHOLARSHIPS AND OTHER DIRECT AID, PROVIDES INSTRUCTION USING HIGH QUALITY, SCAFFOLDED CURRICULA ON AN INNOVATE LIVE VIDEO-BASED PLATFORM AND IMMERSIVE RESIDENTIAL SERVICES IN SEVEN GLOBAL LOCATIONS. 1283386 2475 588445 OPERATE HIGH QUALITY EDUCATIONAL PROGRAMS LEADING TO A GRADUATE DEGREE. TO ACCOMPLISH THIS, THE INSTITUTE IDENTIFIES STUDENTS AND PROVIDES INSTRUCTION USING HIGH QUALITY, SCAFFOLDED CURRICULA ON AN INNOVATIVE LIVE VIDEO-BASED PLATFORM. 327033 232141 OPERATE HIGH QUALITY EDUCATIONAL NON-DEGREE PROGRAMS WITH A DURATION OF A FEW WEEKS OR UP TO A YEAR. TO ACCOMPLISH THIS, THE INSTITUTE IDENTIFIES STUDENTS AND PROVIDES INSTRUCTION USING HIGH QUALITY, SCAFFOLDED CURRICULA ON AN INNOVATE LIVE VIDEO-BASED PLATFORM. 28394157 1 1 0 0 0 0 0 0 0 0 1 1 0 1 1 1 1 0 1 1 1 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 43 0 1 640 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA DC X NIKOLAUS PELKA 4153252059 14 MINT PLAZA FLOOR 3 SAN FRANCISCO CA 94103 BOB KERREY CHAIR 2.50 X X 0 0 0 STACEY CHILDRESS VICE CHAIR 1.50 X X 0 0 0 BEN NELSON FOUNDER & DIRECTOR 1.50 X 0 0 0 BERTIL ANDERSON DIRECTOR 1.50 X 0 0 0 ROBIN GOLDBERG DIRECTOR 1.50 X 0 0 0 MICHAEL HORN DIRECTOR 1.50 X 0 0 0 RICHARD MELNICK DIRECTOR 1.50 X 0 0 0 WENDELL PRITCHETT DIRECTOR 1.50 X 0 0 0 DR VENKI RAMAKRISHNAN DIRECTOR 1.00 X 0 0 0 RANDY SCHEKMAN DIRECTOR 1.50 X 0 0 0 DIANE TAVENNER DIRECTOR 1.50 X 0 0 0 ZHANG YIMING DIRECTOR 1.50 X 0 0 0 THERESE CANNON PRESIDENT 40.00 X 310275 0 18837 NIKOLAUS PELKA CFO 40.00 X 225000 0 21709 VICKI CHANDLER CHIEF ACADEMIC OFFICER, PROVOST 40.00 X 299250 0 18837 RICHARD HOLMAN DEAN OF FACULTY 40.00 X 250000 0 32154 DOLLIE DAVIS ASSOCIATE DEAN OF FACULTY 40.00 X 214493 0 13897 JUNKO GREEN CHIEF DISCOVERY/COMM. OFFICER 40.00 X 210000 0 0 KAYLA DORA KRUPNICK WALSH DEAN OF STUDENT 40.00 X 161250 0 0 JOSHUA FOST VICE PROVOST OF INNOVATION 40.00 X 200000 0 19079 BENOIT RICHARD PROFESSOR 40.00 X 158275 0 8399 NIKHIL MATHUR PROFESSOR 40.00 X 153587 0 12897 RENA LEVITT PROFESSOR 40.00 X 149859 0 9720 PATRICK WATSON PROFESSOR 40.00 X 141309 0 11273 2473298 0 166802 37 0 1 0 ALEXANDRA TERRANA 8081 BIRCHMOUNT RD UNIT 1410 ONTARIO CA INTERNATIONAL PROFESSOR 155772 ISAURA RAQUEL HENRIQUES RIBEIRO RUA JANGADA DE PEDRA NR 1 APARTAME LISBOA PO INTERNATIONAL PROFESSOR 149599 SCHEFFLER CONSULTING AND INVESTMENTS 7 HAMPTON AVENUE CAPE TOWN SF INTERNATIONAL PROFESSOR 148138 STOCHASTIC CONSULTING-PHILIP STERNE 7 WYTHENSHAWE AVENUE PINELANDS SF INTERNATIONAL PROFESSOR 138509 ALEXIS J DIAMOND 340 S LEMON AVE STE 6750 WALNUT CA 91789 INTERNATIONAL PROFESSOR 133841 11 488262 29476215 21441156 29964477 TUITION AND FEES 900099 16674450 16674450 16674450 693 693 159835 56381 103454 103454 103454 1731124 1706033 25091 25091 25091 REIMBURSEMENT 900099 15000 15000 15000 46783165 16674450 0 144238 2050870 2050870 5658101 5658101 1754916 877458 877458 12461326 11189172 1272154 477717 405482 72235 722980 613659 109321 146247 93445 52802 99050 99050 79825 67755 12070 402568 391116 11452 231486 208397 11515 11574 587680 380522 177774 29384 5809863 5744215 65648 246120 198591 47529 64086 64086 378477 44802 333675 SOFTWARE AND LICENSES 250494 214107 36387 LIBRARY AND PACKS 107621 81575 26046 REPAIRS AND MAINTENANCE 80122 60731 19391 DUES AND SUBSCRIPTIONS 73032 55357 17675 61101 58802 2299 31743682 28394157 3308567 40958 4602325 4291798 3250000 1639448 2370952 749287 514080 270459 187566 146979 82893 10684215 5834079 3701993 1445831 24774247 14539633 428964 530625 2020381 2017629 4365178 3185294 1126634 1492153 7941157 7225701 X 4333090 7313932 12500000 0 16833090 7313932 24774247 14539633 15039483 -24558641 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 83439 49683 33756 187020 137883 49137 82893 5834079 C 5834079 DUE FROM MINERVA PROJECT 2750 SECURITY DEPOSITS 1443081 1445831 STUDENT DEPOSITS 607983 DEFERRED RENT 884170 1492153 X 16479441 -24558641 1907507 -7708971 -30360105 46839546 -56381 -56381 46783165 25998599 1907507 56381 1963888 24034711 7708971 7708971 31743682 PART X, LINE 2: THE INSTITUTE IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE (THE CODE), AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE CODE, AND FROM CALIFORNIA INCOME TAXES UNDER SECTION 23701D OF THE CALIFORNIA REVENUE AND TAXATION CODE. ALTHOUGH THE INSTITUTE IS RECOGNIZED AS TAX EXEMPT, IT IS STILL LIABLE FOR INCOME TAX ON ANY UNRELATED BUSINESS TAXABLE INCOME (UBTI). MANAGEMENT BELIEVES THERE WAS NO TAX LIABILITY RELATING TO UBTI AT JUNE 30, 2022 AND 2021. THE INSTITUTE APPLIES THE PROVISIONS SET FORTH IN FASB ASC TOPIC 740, INCOME TAXES, TO ACCOUNT FOR THE UNCERTAINTY IN INCOME TAXES. THE INSTITUTE HAS ASSESSED ALL INCOME TAX POSITIONS TAKEN WHERE THE STATUTE OF LIMITATIONS REMAINS OPEN, GENERALLY THREE YEARS FROM THE FILING OF THE FEDERAL RETURNS AND FOUR YEARS FROM THE FILING OF CALIFORNIA RETURNS. THE INSTITUTE BELIEVES ITS TAX FILING POSITIONS WILL BE SUSTAINED UPON TAX EXAMINATIONS; THEREFORE, NO LIABILITY FOR UNCERTAIN INCOME TAX POSITIONS HAS BEEN RECORDED AT JUNE 30, 2022 AND 2021. THE INSTITUTE DOES NOT ANTICIPATE ANY SIGNIFICANT INCREASES OR DECREASES TO UNCERTAIN INCOME TAX POSITIONS DURING THE NEXT TWELVE MONTHS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIP -7,708,971. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE -56,381. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 56,381. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP 7,708,971. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 EUROPE 0 25 PROGRAM SERVICES/GRANTS DORMITORY EXPENSES (SETUP, RENT, UTILITIES, MANAGEMENT, REPAIRS)STUDENT EVENTS (SPACE RENT, SUPPLIES, MEALS/TRANSPORTATION)STUDENT SERVICES (COUNSELING, EVENT MANAGEMENT, DORMITORY MANAGEMENT, VISA) STUDENT OUTREACH ACTIVITIES INTERNATIONAL CONTRACTED FACULTY 3669646 ASIA 0 19 PROGRAM SERVICES/GRANTS DORMITORY EXPENSES (SETUP, RENT, UTILITIES, MANAGEMENT, REPAIRS)STUDENT EVENTS (SPACE RENT, SUPPLIES, MEALS/TRANSPORTATION)STUDENT SERVICES (COUNSELING, EVENT MANAGEMENT, DORMITORY MANAGEMENT, VISA) STUDENT OUTREACH ACTIVITIES INTERNATIONAL CONTRACTED FACULTY 1926270 NORTH AMERICA 0 6 PROGRAM SERVICES STUDENT OUTREACH ACTIVITIES INTERNATIONAL CONTRACTED FACULTY 569488 SOUTH AMERICA 0 8 PROGRAM SERVICES/GRANTS STUDENT OUTREACH ACTIVITIES INTERNATIONAL CONTRACTED FACULTY 446142 AFRICA 0 6 PROGRAM SERVICES/GRANTS STUDENT OUTREACH ACTIVITIES INTERNATIONAL CONTRACTED FACULTY 557175 0 64 0 0 0 64 7168721 0 7168721 SCHOLARSHIPS EUROPE 281 3669646 CREDIT WITHIN A STUDENT'S TERM BILL SCHOLARSHIPS EAST ASIA AND THE PACIFIC 215 1926270 CREDIT WITHIN A STUDENT'S TERM BILL SCHOLARSHIPS SUB-SAHARAN AFRICA 6 35985 CREDIT WITHIN A STUDENT'S TERM BILL SCHOLARSHIPS SOUTH AMERICA 6 26200 CREDIT WITHIN A STUDENT'S TERM BILL 0 0 0 0 0 0 PART I, LINE 2: MINERVA HAS A NEED-BASED FINANCIAL AID PROGRAM AND GRANTS SCHOLARSHIPS TO MINERVA STUDENTS FOR TUITION AND/OR HOUSING. STUDENTS ARE REQUIRED TO COMPLETE AN INSTITUTIONAL SPECIFIC FINANCIAL AID APPLICATION. SCHOLARSHIPS ARE CREDITED DIRECTLY WITHIN A STUDENT'S TERM BILL. PART III ACCOUNTING METHOD: 1 SCHOLARSHIPS 294 2050870 PART I, LINE 2: MINERVA HAS A NEED-BASED FINANCIAL AID PROGRAM AND GRANTS SCHOLARSHIPS TO MINERVA STUDENTS FOR TUITION AND/OR HOUSING. STUDENTS ARE REQUIRED TO COMPLETE AN INSTITUTIONAL SPECIFIC FINANCIAL AID APPLICATION. SCHOLARSHIPS ARE CREDITED DIRECTLY WITHIN A STUDENT'S TERM BILL. X X X X X 0 0 0 0 0 0 0 0 0 THERESE CANNON PRESIDENT 310275 0 0 0 0 0 0 0 18837 0 329112 0 0 0 VICKI CHANDLER CHIEF ACADEMIC OFFICER, PROVOST 299250 0 0 0 0 0 0 0 18837 0 318087 0 0 0 RICHARD HOLMAN DEAN OF FACULTY 250000 0 0 0 0 0 0 0 32154 0 282154 0 0 0 NIKOLAUS PELKA CFO 225000 0 0 0 0 0 0 0 21709 0 246709 0 0 0 DOLLIE DAVIS ASSOCIATE DEAN OF FACULTY 214493 0 0 0 0 0 0 0 13897 0 228390 0 0 0 JOSHUA FOST VICE PROVOST OF INNOVATION 200000 0 0 0 0 0 0 0 19079 0 219079 0 0 0 JUNKO GREEN CHIEF DISCOVERY/COMM. OFFICER 210000 0 0 0 0 0 0 0 0 0 210000 0 0 0 BENOIT RICHARD PROFESSOR 158275 0 0 0 0 0 0 0 8399 0 166674 0 0 0 NIKHIL MATHUR PROFESSOR 153587 0 0 0 0 0 0 0 12897 0 166484 0 0 0 KAYLA DORA KRUPNICK WALSH DEAN OF STUDENT 161250 0 0 0 0 0 0 0 0 0 161250 0 0 0 RENA LEVITT PROFESSOR 149859 0 0 0 0 0 0 0 9720 0 159579 0 0 0 PATRICK WATSON PROFESSOR 141309 0 0 0 0 0 0 0 11273 0 152582 0 0 0 X 6 21441156 FMV 0 1 0 PART I, COLUMN (B): NUMBER OF CONTRIBUTORS FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE FORM 990 IS REVIEWED BY VARIOUS MEMBERS OF THE BOARD OF DIRECTORS. ANY QUESTIONS OR PROPOSED REVISIONS/ADDITIONS ARE COMMUNICATED BY THE REVIEWERS TO THE OUTSIDE CPA PREPARER OF THE FORM 990. A COPY OF THE FINAL FORM 990 IS FORWARDED TO ALL MEMBERS OF THE ORGANIZATION'S BOARD OF DIRECTORS BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C PERIODIC REVIEWS ARE CONDUCTED TO ENSURE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION USED THE FOLLOWING TO ESTABLISH THE COMPENSATION OF THE ORGANIZATION'S OFFICERS: COMPENSATION COMMITTEE, FORM 990 OF OTHER ORGANIZATIONS, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY/STUDY, AND APPROVAL BY THE BOARD/COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIALS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.