2022-05-16T13:48:16-05:00 2021-06-30 941341042 FRANK RIMERMAN & CO LLP 1801 PAGE MILL ROAD PALO ALTO CA 94304 990 2020-07-01 462589747 MINERVA INSTITUTE FOR RESEARCH AND SCHOLARSHIP MINE 4156497658 1145 MARKET STREET 9TH FLOOR SAN FRANCISCO CA 94103 NIKOLAUS PELKA CFO 4156497658 2022-05-16 1 NIKOLAUS PELKA 999009999 PRERNA JAGADA P01063809 6508458100 2022-05-16 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z MINERVA UNIVERSITY NIKOLAUS PELKA 1145 MARKET STREET 9TH FLOOR SAN FRANCISCO CA 94103 22515125 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. 10 10 477 10 0 0 38012391 8551148 16126921 13847552 4028 8405 33392 92955 54176732 22500060 7155736 6182614 0 0 13541278 16330816 2154 0 12161 10153266 7010507 30852434 29523937 23324298 -7023877 33231547 24774247 9673879 7941157 23557668 16833090 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 25544874 6182614 13219088 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. 830290 383485 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. 244532 244979 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. 26619696 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 0 0 0 0 0 0 0 0 0 1 37 0 1 477 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 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 4156497658 1145 MARKET STREET 9TH FLOOR SAN FRANCISCO CA 94103 VICKI CHANDLER CHIEF ACADEMIC OFFICER 40.00 X 299250 0 13248 THERESE CANNON PRESIDENT 40.00 X 286650 0 14244 RICHARD HOLMAN DEAN OF FACULTY 40.00 X 240155 0 21328 NIKOLAUS PELKA CFO 40.00 X 242000 0 11547 DOLLIE DAVIS ASSOCIATE DEAN OF FACULTY 40.00 X 209150 0 11128 JOSHUA FOST VICE PROVOST OF INNOVATION 40.00 X 175901 0 13717 JUNKO GREEN CHIEF DISC./COMMUNICATION OFFICER 40.00 X 189290 0 218 CHRISTINE LOOSER ASSOCIATE PROFESSOR ENDED 05/31 40.00 X 168258 0 6941 MARIANNA PANOSSI GLOBAL DIRECTOR OF STUDENT SERVICES 40.00 X 135493 0 9093 RACHEL KIM GLOBAL DIR. OF COACHING/TALENT DEVEL. 40.00 X 131733 0 10266 JOSEPH R KERREY CHAIR 1.00 X X 0 0 0 BEN NELSON FOUNDER/DIRECTOR 5.00 X 0 0 0 DIANE TAVENNER DIRECTOR 1.50 X 0 0 0 ZHANG YIMING DIRECTOR 1.50 X 0 0 0 PHIL BRONNER DIRECTOR 1.50 X 0 0 0 MICHAEL HORN DIRECTOR 1.50 X 0 0 0 VENKI RAMAKRISHNAN DIRECTOR 1.50 X 0 0 0 BERTIL ANDERSSON DIRECTOR 1.50 X 0 0 0 ROBIN GOLDBERG DIRECTOR 1.50 X 0 0 0 STACEY CHILDRESS DIRECTOR 1.50 X 0 0 0 2077880 0 111730 10 0 1 1 ALEXIS J DIAMOND 340 S LEMON AVE STE 6750 WALNUT CA 91789 COMPUTER SCIENCE FACULTY 165136 ALEXANDRA TERRANA 8081 BIRCHMOUNT RD UNIT 1410 MARKHAM ONTARIO L6G0G5 CA ASSISTANT PROFESSOR COMPUTATIONAL SCIENC 154601 ISAURA RAQUEL HENRIQUES RIBEIRO RUA JANGADA DE PEDRA NR 1 APARTAME LISBOA 1990-603 PO ASSISTANT PROFESSOR COMPUTATIONAL SCIENC 150191 CARL SCHEFFLER (SCHEFFLER CONSULTING AND 7 HAMPTON AVENUE CAPE TOWN NEWLANDS 7700 SF ASSISTANT PROFESSOR COMPUTATIONAL SCIENC 143069 STOCHASTIC CONSULTING-PHILIP STERNE 7 WYTHENSHAWE AVENUE PINELANDS 7403 SF ASSISTANT PROFESSOR COMPUTATIONAL SCIENC 139544 12 2001460 6549688 8551148 TUITION AND FEES 900099 13847552 13847552 13847552 8405 8405 108020 15065 92955 92955 92955 22500060 13847552 0 101360 3055310 3055310 3127304 3127304 1608128 804064 804064 13351701 12669493 682208 602196 301098 301098 768791 680492 88299 137241 48227 89014 120152 120152 85267 75474 9793 455078 451442 3636 131661 125560 3468 2633 476407 110570 356309 9528 66478 61460 5018 64086 64086 220912 42192 178720 DORMITORIES 4468164 4357830 110334 PARTNER SERVICES 554451 554451 SOFTWARE AND LICENSES 153515 102830 50685 DUES AND SUBSCRIPTIONS 52831 51899 932 24264 24264 29523937 26619696 2892080 12161 2183071 4602325 16000000 3250000 2548816 1639448 72140 749287 270459 123480 208658 146979 10684215 10684215 1534647 3701993 33231547 24774247 361800 428964 39000 2020381 1333000 7940079 5491812 9673879 7941157 X 7557668 4333090 16000000 12500000 23557668 16833090 33231547 24774247 -7023877 299299 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 83439 32995 50444 187020 90485 96535 146979 10684215 C 10684215 DUE FROM MINERVA PROJECT 2215491 SECURITY DEPOSITS 1486502 3701993 DUE TO MINERVA PROJECT 4365178 STUDENT DEPOSITS 570030 DEFERRED RENT 556604 5491812 X 18452589 299299 1820779 -6182614 -4062536 22515125 -15065 -15065 22500060 25177167 1820779 15065 1835844 23341323 6182614 6182614 29523937 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, 2021 AND 2020. THE INSTITUTE APPLIES THE PROVISIONS SET FORTH IN FASB ACCOUNTING STANDARDS CODIFICATION (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 LIMITATION REMAINED 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 UNRECOGNIZED INCOME TAX BENEFITS HAS BEEN RECORDED AT JUNE 30, 2021 AND 2020. THE INSTITUTE DOES NOT ANTICIPATE ANY SIGNIFICANT INCREASES OR DECREASES TO UNRECOGNIZED INCOME TAX BENEFITS DURING THE NEXT TWELVE MONTHS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARHIPS -6,182,614. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE -15,065. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 15,065. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 6,182,614. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 EUROPE 0 9 PROGRAM SERVICES/GRANTS EXPENDITURES TO SETUP AND MANAGE LOCAL DORMITORIES, STUDENT EVENTS, STUDENT SERVICES, AND OUTREACH. 1888995 ASIA 0 17 PROGRAM SERVICES/GRANTS EXPENDITURES TO SETUP AND MANAGE LOCAL DORMITORIES, STUDENT EVENTS, STUDENT SERVICES, OUTREACH, AND GLOBAL FACULTY. 1056579 NORTH AMERICA 0 6 PROGRAM SERVICES OUTREACH ACTIVITIES AND GLOBAL FACULTY. 478615 SOUTH AMERICA 0 12 PROGRAM SERVICES/GRANTS EXPENDITURES TO SETUP AND MANAGE LOCAL DORMITORIES, STUDENT EVENTS, STUDENT SERVICES, OUTREACH, AND GLOBAL FACULTY. 382182 AFRICA 0 4 PROGRAM SERVICES OUTREACH ACTIVITIES AND GLOBAL FACULTY. 355586 0 48 0 0 0 48 4161957 0 4161957 SCHOLARSHIPS EUROPE 227 1771076 CREDIT WITHIN A STUDENT'S TERM BILL SCHOLARSHIPS EAST ASIA AND THE PACIFIC 102 749520 CREDIT WITHIN A STUDENT'S TERM BILL SCHOLARSHIPS SOUTH ASIA 29 151475 CREDIT WITHIN A STUDENT'S TERM BILL SCHOLARSHIPS SUB-SAHARAN AFRICA 22 180333 CREDIT WITHIN A STUDENT'S TERM BILL SCHOLARSHIPS RUSSIA AND NEIGHBORING STATES 20 126175 CREDIT WITHIN A STUDENT'S TERM BILL SCHOLARSHIPS SOUTH AMERICA 13 72300 CREDIT WITHIN A STUDENT'S TERM BILL SCHOLARSHIPS NORTH AMERICA 7 21675 CREDIT WITHIN A STUDENT'S TERM BILL SCHOLARSHIPS MIDDLE EAST AND NORTH AFRICA 6 45675 CREDIT WITHIN A STUDENT'S TERM BILL SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN 2 9075 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 308 3055310 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 VICKI CHANDLER CHIEF ACADEMIC OFFICER 299250 0 0 0 0 0 0 0 13248 0 312498 0 0 0 THERESE CANNON PRESIDENT 286650 0 0 0 0 0 0 0 14244 0 300894 0 0 0 RICHARD HOLMAN DEAN OF FACULTY 240155 0 0 0 0 0 0 0 21328 0 261483 0 0 0 NIKOLAUS PELKA CFO 242000 0 0 0 0 0 0 0 11547 0 253547 0 0 0 DOLLIE DAVIS ASSOCIATE DEAN OF FACULTY 209150 0 0 0 0 0 0 0 11128 0 220278 0 0 0 JOSHUA FOST VICE PROVOST OF INNOVATION 175901 0 0 0 0 0 0 0 13717 0 189618 0 0 0 JUNKO GREEN CHIEF DISC./COMMUNICATION OFFICER 189290 0 0 0 0 0 0 0 218 0 189508 0 0 0 CHRISTINE LOOSER ASSOCIATE PROFESSOR ENDED 05/31 168258 0 0 0 0 0 0 0 6941 0 175199 0 0 0 FORM 990, PART VII, LINE 5: THE FOLLOWING INDIVIDUALS RECEIVED COMPENSATION FROM MINERVA PROJECT, AN UNRELATED ORGANIZATION, FOR THEIR SERVICES TO MINERVA INSTITUTE: VICKI CHANDLER $115,054 THERESE CANNON $74,006 RICHARD HOLMAN $89,269 DOLLIE DAVIS $65,332 JOSHUA FOST $58,243 JUNKO GREEN $65,550 CHRISTINE LOOSER $34,298 MARIANNA PANOSSI $35,922 RACHEL KIM $30,425 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.