2022-03-22T13:38:16-05:00 2021-05-31 410746749 CLIFTONLARSONALLEN LLP 8390 EAST CRESCENT PARKWAY SUITE 300 GREENWOOD VILLAGE CO 80111 990 2020-06-01 410693962 MACALESTER COLLEGE MACA 6516966000 1600 GRAND AVENUE ST PAUL MN 55105 PATRICIA LANGER VP OF ADMIN AND FINANCE 6516966000 2021-12-15 1 PATRICIA LANGER 999009999 SARAH HINTZ P00492291 3037795710 2022-03-12 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z SUZANNE M RIVERA 1600 GRAND AVENUE ST PAUL MN 55105 443308746 0 X WWW.MACALESTER.EDU X 1874 MN MACALESTER IS A FOUR-YEAR HIGHLY-SELECTIVE LIBERAL ARTS COLLEGE. 34 33 2711 1800 -1479618 0 16715092 15180951 127414294 125363418 48704195 44284941 1741320 1302049 194574901 186131359 58863366 66291207 0 0 75115282 78051672 0 0 4479849 48989465 39391951 182968113 183734830 11606788 2396529 1007704963 1183330680 119761147 117600326 887943816 1065730354 X MACALESTER IS COMMITTED TO BEING A PREEMINENT LIBERAL ARTS COLLEGE WITH AN EDUCATIONAL PROGRAM KNOWN FOR ITS HIGH STANDARDS FOR SCHOLARSHIP AND ITS SPECIAL EMPHASIS ON INTERNATIONALISM, MULTICULTURALISM, AND SERVICE TO SOCIETY. 0 0 122551196 66220207 98946630 INSTRUCTION OF STUDENTS AND ACADEMIC SUPPORT OF INSTRUCTION: STUDENTS FROM ACROSS THE UNITED STATES AND 94 COUNTRIES EXPERIENCE AN ACADEMIC PROGRAM THAT PREPARES THEM FOR WORLD CITIZENSHIP. THE STUDENT FACULTY RATIO IS 10:1, WITH AN AVERAGE CLASS SIZE OF 17. STUDENTS CAN CHOOSE FROM 41 MAJORS AND 42 MINORS. MACALESTER IS COMMITTED TO ADMITTING AN ECONOMICALLY DIVERSE STUDENT BODY AND MEETS THE FULL FINANCIAL NEED OF EVERY STUDENT. ENROLLMENT FOR FALL 2020 WAS 2,049, AND 467 STUDENTS GRADUATED DURING THE 2020-2021 FISCAL YEAR. 21808416 0 17607900 STUDENT SERVICES: THE CO-CURRICULAR STUDENT EXPERIENCE IS CRITICAL TO MACALESTER'S MISSION. TO SUPPORT A VIBRANT STUDENT EXPERIENCE, MACALESTER PROVIDES A RANGE OF STUDENT SERVICES AND SUPPORT. WITH MORE THAN 100 STUDENT-RUN CLUBS AND ORGANIZATIONS, MACALESTER STUDENTS HAVE SIGNIFICANT LEADERSHIP OPPORTUNITIES. THE CAREER EXPLORATION DEPARTMENT HELPS STUDENTS GAIN VALUABLE WORK EXPERIENCE AND PLAN THEIR CAREERS UPON GRADUATION. THE LEONARD CENTER ATHLETIC AND WELLNESS COMPLEX HOUSES TRAINING AND COMPETITION AREAS AND PROVIDES FITNESS AND WELLNESS PROGRAMS. MACALESTER COMPETES IN NCAA DIVISION III AND SUPPORTS 21 MEN'S AND WOMEN'S SPORTS. 10036927 0 8103716 RESIDENCE AND DINING HALLS: MACALESTER IS A RESIDENTIAL CAMPUS, LOCATED ON 53 ACRES IN THE CENTER OF A MAJOR METROPOLITAN AREA. FIRST AND SECOND YEAR STUDENTS ARE REQUIRED TO LIVE ON CAMPUS; OVERALL TWO THIRDS OF STUDENTS LIVE ON CAMPUS. MACALESTER HAS TEN RESIDENCE HALLS, SIX LANGUAGE HOUSES, AND SIX THEME RESIDENCES (ECOHOUSE, CULTURAL HOUSE, ALL-GENDER COMMUNITY, INTERFAITH HOUSE, VEGGIE CO-OP, AND STUDY ABROAD HOUSE). THE DINING HALL IS LOCATED IN THE CAMPUS CENTER, WHICH CREATES A VIBRANT LIVING-LEARNING COMMUNITY. LOCALLY-SOURCED ORGANIC FOODS ARE MAXIMIZED IN DINING OPERATIONS. FOOD SCRAPS ARE SENT TO A LOCAL FARM RATHER THAN TO A LANDFILL. SUSTAINABILITY IS AN IMPORTANT PRIORITY FOR THE COLLEGE; IN RESIDENCE HALLS AND DINING HALLS, STUDENTS ARE ENCOURAGED TO REDUCE ENERGY USE. 1540957 71000 1244154 OTHER SERVICES - RESEARCH, PUBLIC SERVICES, POST OFFICE, ETC. 1540957 71000 1244154 155937496 1 1 0 1 0 0 0 0 1 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 2468 0 1 2711 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 34 33 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 MN CA X PATRICIA LANGER 6516966000 1600 GRAND AVENUE ST PAUL MN 55105 BRIAN ROSENBERG PRESIDENT 40.00 X X 632019 0 69625 SUZANNE M RIVERA PRESIDENT 40.00 X X 335957 0 52369 JERRY CRAWFORD CHAIR 1.00 X X 0 0 0 MICHAEL DAVIS VICE CHAIR 1.00 X X 0 0 0 CARRIE NORBIN KILLORAN VICE CHAIR 1.00 X X 0 0 0 PATRICIA HURLEY SECRETARY 1.00 X X 0 0 0 D CHRISTIAN KOCH TREASURER 1.00 X X 0 0 0 PETER AHN TRUSTEE 1.00 X 0 0 0 JENNIFER BRAHM TRUSTEE 1.00 X 0 0 0 KAREN BRASEL TRUSTEE 1.00 X 0 0 0 THEODORE CLEMENT TRUSTEE 1.00 X 0 0 0 ROBIN JACKSON COLMAN TRUSTEE 1.00 X 0 0 0 DAVID DENO TRUSTEE 1.00 X 0 0 0 EDWARD DEUTSCHLANDER TRUSTEE 1.00 X 0 0 0 EDWARD DONKOR TRUSTEE 1.00 X 0 0 0 BRODERICK GRUBB TRUSTEE 1.00 X 0 0 0 TIMOTHY HART-ANDERSEN TRUSTEE 1.00 X 0 0 0 MICHAEL HUBER TRUSTEE 1.00 X 0 0 0 PATRICIA HUME TRUSTEE 1.00 X 0 0 0 AUKSE JURKUTE TRUSTEE 1.00 X 0 0 0 MICHAEL KLINGENSMITH TRUSTEE 1.00 X 0 0 0 MARK LEONARD TRUSTEE 1.00 X 0 0 0 SETH LEVINE TRUSTEE 1.00 X 0 0 0 ALICE MORTENSON TRUSTEE 1.00 X 0 0 0 PAUL OLSON TRUSTEE 1.00 X 0 0 0 SANDRA ORTIZ TRUSTEE 1.00 X 0 0 0 AMY PAHL TRUSTEE 1.00 X 0 0 0 SARA PETERSON TRUSTEE 1.00 X 0 0 0 JAMES REISSNER TRUSTEE 1.00 X 0 0 0 SUSAN DUNST SCHWARTZ TRUSTEE 1.00 X 0 0 0 MICHAEL SNEED TRUSTEE 1.00 X 0 0 0 PAUL STRAND TRUSTEE 1.00 X 0 0 0 REBECCA VAN DYCK TRUSTEE 1.00 X 0 0 0 JON WALTON TRUSTEE 1.00 X 0 0 0 ANNETTE MORTINSON WHALEY TRUSTEE 1.00 X 0 0 0 DAVID WHEATON VP OF ADMIN AND FINANCE 40.00 X 290179 0 33906 GARY MARTIN CHIEF INVESTMENT OFFICER 40.00 X 349775 0 33595 DAVID A BROWN VP FOR ADVANCEMENT 40.00 X 265731 0 31861 KARINE MOE PROVOST/DEAN OF FACULTY 40.00 X 245942 0 31385 DONNA LEE VP FOR STUDENT AFFAIRS 40.00 X 185173 0 55503 JEFFREY ALLEN VP FOR ADMISS. & FIN. AID 40.00 X 202395 0 19090 DERRICK GRIFFEN DIR OF ALT INVESTMENTS 40.00 X 208590 0 29093 JENNIFER HAAS AVP FOR IT SERVICES 40.00 X 176639 0 29277 DIANE MICHELFELDER PROFESSOR 40.00 X 182669 0 23185 PAUL OVERVOORDE VICE PROVOST/SPEC. ASST. TO PRESIDENT 40.00 X 167301 0 26136 STEPHANIE WALTERS MEDICAL DOCTOR 40.00 X 163060 0 24594 3405430 0 459619 13 0 1 0 BON APPETIT MANAGEMENT CO 91337 COLLECTIONS DRIVE CHICAGO IL 60603 FOOD SERVICE 3456792 SILCHESTER INTERNATIONAL INVESTORS INC 780 3RD AV NEW YORK NY 10017 INVESTMENT FEES 577722 EBSCO PO BOX 204661 DALLAS TX 75320 LIBRARY SUBSCRIPTIONS 474488 LOFFLER COMPANIES PO BOX 1511 MINNEAPOLIS MN 55480 MAIL & DOCUMENT SERVICE 465629 LATHROP GPM LLP STE 2200 2345 GRAND BLVD KANSAS CITY MO 64108 LEGAL SERVICES 326734 29 5067253 10113698 703296 15180951 TUITION & FEES 611710 116669720 116669720 SALES & SERVICE OF AUX 611710 8693698 8693698 125363418 13393193 -1479618 14872811 1516991 753924 763067 763067 763067 287315211 256423463 30891748 30891748 30891748 MISCELLANEOUS REVENUE 900099 538982 538982 538982 186131359 125902400 -1479618 46527626 71000 71000 66220207 66220207 2836343 739488 1637196 459659 56755537 45729035 8207415 2819087 4381409 3428664 811510 141235 10566313 8395700 1891259 279354 3512070 2745423 627305 139342 1060668 487267 573401 98157 98157 1213043 1213043 8254663 5396390 2464093 394180 88941 65828 16956 6157 3637773 2397283 1104040 136450 2450076 209050 2174600 66426 4384305 3942057 442248 153417 140005 12026 1386 194459 147292 38701 8466 3063003 3031379 31624 10210054 9086201 1123853 97857 96288 1569 BOOKS, PERIODICALS, ART 1466788 1436390 19856 10542 MINOR EQUIPMENT 803098 601424 185678 15996 2215649 1667413 548236 183734830 155937496 23317485 4479849 13899046 15663220 5310430 2027613 1009188 1605121 822021 976854 381390594 158942316 230362551 222448278 325972530 368968657 388107174 521001761 8232268 8147031 33989755 42492145 1007704963 1183330680 11765869 13258808 3089889 2644891 2493266 2787920 86250006 82328787 711681 668069 15450436 15911851 119761147 117600326 X 206177464 218999119 681766352 846731235 887943816 1065730354 1007704963 1183330680 X 2396529 160971544 1150908 13267557 X X 0 1 X 1 1 1 X 14956738 18996565 16816080 16715092 15180951 82665426 14956738 18996565 16816080 16715092 15180951 82665426 6183738 76481688 16039275 18984699 15426497 16440786 14910184 81801441 1095655 1252722 1298146 1174880 538982 5360385 169827252 545188921 0.45030 0.43050 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2016 AMOUNT: $ 1,095,655. 2017 AMOUNT: $ 1,252,722. 2018 AMOUNT: $ 1,298,146. 2019 AMOUNT: $ 1,174,880. 2020 AMOUNT: $ 538,982. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 104369 0 104369 0 179150612 0 179254981 0 1000000 0 250000 0 0 0 1000000 1000000 1000000 1000000 4000000 6000000 101820 104510 103111 104369 413810 250000 250000 250000 250000 1000000 1500000 PART I-A, LINE 1 MACALESTER COLLEGE IS A MEMBER OF THE MINNESOTA PRIVATE COLLEGE COUNCIL (MPCC), AN ORGANIZATION DESCRIBED IN SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE. MPCC IS AN ASSOCIATION OF PRIVATE NONPROFIT INSTITUTIONS OF HIGHER EDUCATION THAT SERVES A VARIETY OF ITS MEMBERS' SHARED NEEDS, INCLUDING, BUT NOT ONLY NONPARTISAN AND NON-ELECTORAL ADVOCACY FOR PUBLIC POLICY THAT MEETS STUDENTS' NEEDS AND ADVANCES THE INTERESTS OF PRIVATE HIGHER EDUCATION. MACALESTER PAID MEMBERSHIP DUES TO MPCC IN THE AMOUNT OF $130,838 DURING THE FISCAL YEAR. BASED ON FIGURES PROVIDED BY MPCC, $104,369 OF MACALESTER'S DUES WENT, IN PART, TOWARD LOBBYING. 0 1 X 662808250 9707515 203205017 27625121 9521937 2714122 835859602 720259371 7729845 -25769036 27090716 9455831 2865383 662808250 739830889 2641257 16742924 26947226 9079530 2928943 720259371 718862444 2798791 56768663 26780765 8482065 3336179 739830889 672136042 3869438 79896254 25622732 8767053 2649505 718862444 0.08650 0.37180 0.54170 0 0 4362100 4362100 16360232 343909163 144975413 215293982 16759099 13966903 2792196 222448278 LP INTEREST IN DOM EQ 123713777 F LP INTEREST IN PRIVATE EQ 127347058 F LP INT IN HEDGE FUNDS 102011918 F LP INT IN REAL EST. 29320528 F LP INT IN NAT. RES. 44634895 F LIQUID ALT. INV. 93973585 F 521001761 INTEREST RATE SWAP AGREEMENT 1416363 LIAB UNDER PLANNED GIVING AGMTS 8313661 UNAMORTIZED BOND PREMIUM 6181827 15911851 X 359553380 160971544 14016481 174988025 184565355 1566004 1566004 186131359 181766842 748924 748924 181017918 1566004 1150908 2716912 183734830 PART IV, LINE 2B: MACALESTER COLLEGE HELD FUNDS FOR STUDENT ORGANIZATIONS. PART V, LINE 4: MACALESTER COLLEGE USES THE EARNINGS FROM ITS ENDOWMENT FUNDS FOR SCHOLARSHIPS, PRIZES, AWARDS, LIBRARY SUPPORT, PROGRAM SUPPORT, FACULTY SUPPORT, AND RESEARCH IN ACCORDANCE WITH DONOR RESTRICTIONS WHERE APPLICABLE. PART X, LINE 2: THE COLLEGE'S ACCOUNTING POLICY PROVIDES THAT A TAX EXPENSE/BENEFIT FROM AN UNCERTAIN TAX POSITION MAY BE RECOGNIZED WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTIONS OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON TECHNICAL MERITS. THE COLLEGE HAS NO UNCERTAIN TAX POSITIONS RESULTING IN AN ACCRUAL OF TAX EXPENSES OR BENEFIT. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF PLANNED GIVING AGREEMENTS 4,888,414. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST 7,393,734. CHANGE IN VALUE OF INTEREST RATE SWAP 985,409. RENTAL EXPENSE 748,924. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 748,924. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT OFFICE OPERATING EXPENSES 1,150,908. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 MACALESTER COLLEGE PUBLISHES ITS RACIALLY NONDISCRIMINATORY POLICY ON ITS WEBSITE, IN ITS COLLEGE CATALOG, AND ON ITS APPLICATION FOR ADMISSION. SCHEDULE E, PART I, LINE 6 MACALESTER COLLEGE RECIEVES TITLE IV FUNDING FROM THE UNITED STATES DEPARTMENT OF EDUCATION (I.E. PELL, SEOG, FEDERAL WORK STUDY, AND DIRECT LOAN PROGRAM). THE COLLEGE ALSO RECEIVED HIGHER EDUCATION EMERGENCY RELIEF FUND (HEERF) AID. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 97760351 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENTS 6019742 0 0 0 0 0 0 103780093 0 103780093 1 0 1 1 1 0 PART I, LINE 3: EXPENDITURES ARE RECORDED AS EXPENSES IN THE COLLEGE'S GENERAL LEDGER WHEN THE EXPENSES ARE INCURRED, OTHERWISE KNOWN AS THE ACCRUAL METHOD OF ACCOUNTING. PART III ACCOUNTING METHOD: 1 MACALESTER GROVELAND COMMUNITY COUNCIL 320 GRIGGS ST ST PAUL MN 55105 411414691 501(C)(3) 61000 0 N/A N/A SUPPORT OF COMMUNITY ORGANIZING IN THE MACALESTER-GROVELAND NEIGHBORHOOD UNION PARK DISTRICT COUNCIL 161 SNELLING AVE N ST PAUL MN 55104 411434829 501(C)(3) 10000 0 N/A N/A SUPPORT OF COMMUNITY ORGANIZING IN THE MACALESTER-GROVELAND NEIGHBORHOOD 2 0 SCHOLARSHIPS AND GRANTS TO STUDENTS 1794 64736237 0 N/A N/A FEDERAL STUDENT EMERGENCY AID 527 1483970 0 N/A N/A PART I, LINE 2: WHEN DETERMINING THE AMOUNT OF FINANCIAL AID A STUDENT WILL RECEIVE, THE FINANCIAL AID OFFICE FIRST CALCULATES HOW MUCH THE STUDENT'S FAMILY CAN REASONABLY AFFORD. THIS CALCULATION RELIES ON TWO PRIMARY SOURCES OF INFORMATION: 1) A FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA); AND 2) A FINANCIAL AID PROFILE; BOTH OF WHICH ARE COMPLETED BY THE FAMILY. THE FINANCIAL AID OFFICE AWARDS A FINANCIAL AID PACKAGE THAT FILLS THE GAP BETWEEN THE CALCULATED AMOUNT THE STUDENT'S FAMILY CAN REASONABLY AFFORD AND THE COST OF ATTENDING MACALESTER COLLEGE. IN ADDITION, DURING THE 2020/2021 FISCAL YEAR, THE FEDERAL GOVERNMENT PROVIDED STUDENT EMERGENCY AID FUNDS. THE COLLEGE DETERMINED A PROCESS WHEREBY THESE FUNDS WERE DISBURSED TO STUDENTS AND REIMBURSED ITSELF AFTER THE FUNDS WERE DISBURSED. SCHEDULE I, PART I, LINE 2: THE COLLEGE AWARDS SMALL GRANTS TO NEIGHBORHOOD ORGANIZATIONS WORKING TO MAKE OUR NEIGHBORHOOD A VIBRANT PLACE TO LIVE, AND TO LOCAL NEIGHBORHOOD COUNCILS COMMITTED TO AREA LIVABILITY ISSUES. GRANT RECIPIENTS ARE REQUIRED TO SUBMIT A REPORT DESCRIBING USE OF GRANT FUNDS AT LEAST ANNUALLY OR AT THE CLOSE OF A SPECIFIC PROJECT. THE COLLEGE ALSO MAKES SUBAWARDS FROM GRANT FUNDS TO ORGANIZATIONS THAT AID IN THE RESEARCH BEING CONDUCTED. SUBRECIPIENTS MUST SUBMIT DETAILED REPORTS OF EXPENDITURES BEFORE MACALESTER WILL REIMBURSE THEM. X X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 BRIAN ROSENBERG PRESIDENT 563209 0 0 0 68810 0 28500 0 41125 0 701644 0 0 0 SUZANNE M RIVERA PRESIDENT 313252 0 0 0 22705 0 4333 0 48036 0 388326 0 0 0 GARY MARTIN CHIEF INVESTMENT OFFICER 347344 0 0 0 2431 0 21103 0 12492 0 383370 0 0 0 DAVID WHEATON VP OF ADMIN AND FINANCE 286405 0 0 0 3774 0 16299 0 17607 0 324085 0 0 0 DAVID A BROWN VP FOR ADVANCEMENT 255582 0 0 0 10149 0 15597 0 16264 0 297592 0 0 0 KARINE MOE PROVOST/DEAN OF FACULTY 244887 0 0 0 1055 0 15046 0 16339 0 277327 0 0 0 DONNA LEE VP FOR STUDENT AFFAIRS 184452 0 0 0 721 0 11205 0 44298 0 240676 0 0 0 DERRICK GRIFFEN DIR OF ALT INVESTMENTS 208385 0 0 0 205 0 12872 0 16221 0 237683 0 0 0 JEFFREY ALLEN VP FOR ADMISS. & FIN. AID 202209 0 0 0 186 0 12115 0 6975 0 221485 0 0 0 JENNIFER HAAS AVP FOR IT SERVICES 176392 0 0 0 247 0 10868 0 18409 0 205916 0 0 0 DIANE MICHELFELDER PROFESSOR 180581 0 0 0 2088 0 10896 0 12289 0 205854 0 0 0 PAUL OVERVOORDE VICE PROVOST/SPEC. ASST. TO PRESIDEN 166964 0 0 0 337 0 10030 0 16106 0 193437 0 0 0 STEPHANIE WALTERS MEDICAL DOCTOR 162850 0 0 0 210 0 9010 0 15584 0 187654 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS: THE COLLEGE ONLY PAYS THE TRAVEL EXPENSES OF THE PRESIDENT'S SPOUSE IF THE PURPOSE OF THEIR TRIP IS RELATED TO COLLEGE BUSINESS. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: THE COLLEGE'S PRESIDENT AND THE COLLEGE'S VICE PRESIDENT FOR STUDENT AFFAIRS ARE PROVIDED WITH HOUSES AS CONDITIONS OF EMPLOYMENT. THE HOUSES ARE USED FOR BOTH BUSINESS AND PERSONAL PURPOSES. HOUSEKEEPING SERVICES ARE ALSO PROVIDED. PERSONAL SERVICES: THE COLLEGE PAYS FOR THE PRESIDENT'S TAX PREPARATION AND ESTATE PLANNING. PERSONAL SERVICES ARE TREATED AS TAXABLE COMPENSATION. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: ELIGIBLE COLLEGE EMPLOYEES RECEIVE AN ANNUAL RETIREMENT PLAN CONTRIBUTION FROM THE COLLEGE EQUAL TO 10% OF ELIGIBLE SALARY, SUBJECT TO IRS ANNUAL LIMITS. BECAUSE THE RETIREMENT CONTRIBUTION FOR THE PRESIDENT HITS THE IRS LIMIT, THE COLLEGE SUPPLEMENTS THE PRESIDENT'S ANNUAL COMPENSATION WITH AN AMOUNT THAT BRINGS THE RETIREMENT PLAN CONTRIBUTION TO THE LEVEL OF OTHER PARTICIPANTS IN THE PLAN. THE COLLEGE OFFSETS THE INCOME TAX BURDEN OF THIS ADDITIONAL COMPENSATION BY GROSSING UP THE WAGES FOR THE YEAR. THIS ADDITIONAL COMPENSATION IS REPORTED ON THE EMPLOYEE'S W-2. THE COLLEGE SUPPLEMENTS THE LIFE INSURANCE OFFERED THROUGH ITS BENEFIT PLANS WITH AN ADDITIONAL POLICY FOR THE PRESIDENT OF THE COLLEGE. THE PRESIDENT PAYS THE ANNUAL PREMIUM FOR THE POLICY AND IS REIMBURSED BY THE COLLEGE. UNDER IRS RULES, THIS PAYMENT MUST BE REPORTED AS TAXABLE COMPENSATION TO THE EMPLOYEE. THE COLLEGE OFFSETS THE INCOME TAX BURDEN OF THIS COMPENSATION BY GROSSING UP THE WAGES FOR THE YEAR. THE ADDITIONAL COMPENSATION IS REPORTED ON THE EMPLOYEE'S W-2. A MN HIGHER EDUCATION FACILITIES AUTHORITY 410988525 6041518J2 2003-02-20 15300000 DORMITORY IMPROVEMENTS 0 0 0 B MN HIGHER EDUCATION FACILITIES AUTHORITY 410988525 60416HP99 2015-09-11 24876534 CONST/REFINANCE BONDS 0 0 0 C MN HIGHER EDUCATION FACILITIES AUTHORITY 410988525 60416H5R1 2017-11-08 43520305 CONST/REFINANCE BONDS 0 0 0 D MN HIGHER EDUCATION FACILITIES AUTHORITY 410988525 60416JDW7 2021-04-01 12870000 CONST/REFINANCE BONDS 0 0 0 A 15300000 300000 15000000 2004 0 0 1 1 B 6535000 24876534 224105 5000000 2018 1 0 1 1 C 8260000 43520305 189449 22014833 2019 1 0 1 1 D 12678903 14929199 206975 2040000 2023 1 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 D 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 1 1 1 RBC 0.080000000000 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 C 0 0 1 0 0 0 0 0 1 D 0 0 1 0 0 0 0 0 1 A 1 B 1 C 1 D 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: MN HIGHER EDUCATION FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 03/01/2007 X 71 703296 MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE COLLEGE REPORTS THE NUMBER OF CONTRIBUTIONS ON SCHEDULE M, PART I, COLUMN B FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE OF THE BOARD SHALL CONSIST OF THE OFFICERS OF THE CORPORATION, THE CHAIR OF EACH OF THE PERMANENT COMMITTEES OF THE BOARD, AND SUCH OTHER MEMBERS OF THE BOARD OF TRUSTEES AS THE BOARD MAY DETERMINE. A MAJORITY OF THE MEMBERS OF THE EXECUTIVE COMMITTEE SHALL CONSTITUTE A QUORUM FOR THE TRANSACTION OF BUSINESS, BUT A LESSER NUMBER SHALL HAVE THE POWER TO ADJOURN ANY MEETING TO A SUBSEQUENT DATE. ALL MEMBERS OF THE BOARD OF TRUSTEES SHALL RECEIVE NOTICE OF AND MAY ATTEND ALL EXECUTIVE COMMITTEE MEETINGS. FORM 990, PART VI, SECTION B, LINE 11B INFORMATION FOR THE FORM 990 IS COMPILED BY COLLEGE PERSONNEL AND SUBMITTED TO THE COLLEGE ACCOUNTING FIRM, WHO PREPARES A DRAFT OF THE FORM. THIS DRAFT IS REVIEWED BY THE COLLEGE'S VP OF ADMINISTRATION AND FINANCE, ASSOCIATE VP FOR FINANCE, AND DIRECTOR OF ACCOUNTING. ONCE A FINAL DRAFT OF THE FORM IS READY, EACH MEMBER OF THE BOARD OF TRUSTEES IS E-MAILED A COPY FOR REVIEW (WITH SCHEDULE B INFORMATION REDACTED). ALL BOARD MEMBERS ARE INSTRUCTED TO REVIEW THE FORM AND PROVIDE FEEDBACK BY A SPECIFIED DEADLINE. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, OFFICERS, DIRECTORS AND KEY EMPLOYEES ARE SENT A CONFLICT OF INTEREST PACKET THAT INCLUDES A COPY OF THE CONFLICT OF INTEREST POLICY AND A QUESTIONNAIRE. COMPLETED QUESTIONNAIRES ARE RETURNED TO THE VICE PRESIDENT OF ADMINISTRATION AND FINANCE, WHERE THEY ARE REVIEWED FOR INTERESTS THAT COULD GIVE RISE TO CONFLICTS. IF A CONFLICT EXISTS AT ANY TIME DURING THE YEAR, THE AFFECTED BOARD MEMBER(S) MUST ABSTAIN FROM ANY DELIBERATIONS AND VOTING ON THE TOPIC TO WHICH THE CONFLICT APPLIES. THESE DELIBERATIONS AND DECISIONS ARE DOCUMENTED IN THE BOARD MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15A EACH YEAR, THE DIRECTOR OF EMPLOYMENT SERVICES COMPILES DATA TO SUPPORT THE WORK OF THE BOARD OF TRUSTEES' SENIOR LEADERSHIP REVIEW COMMITTEE REGARDING THE COMPENSATION OF THE PRESIDENT. THE DATA ARE COMPILED USING RELEVANT INDEPENDENT AND PEER GROUP SALARY SURVEYS AND ARE SHARED WITH ALL MEMBERS OF THE COMMITTEE. THE COMMITTEE IS ALSO MADE AWARE OF THE PLANNED INCREASES FOR ADMINISTRATIVE STAFF AS DETERMINED THROUGH THE ANNUAL BUDGET APPROVAL PROCESS. THE COMMITTEE'S FINAL RECOMMENDATION REGARDING THE PRESIDENT'S COMPENSATION IS APPROVED BY THE FULL BOARD AND COMMUNICATED IN WRITING FOR PROCESSING AND FILING. THE COMMITTEE ALSO RECEIVES INFORMATION REGARDING THE COMPENSATION OF THE COLLEGE'S SENIOR LEADERSHIP POSITIONS ALONG WITH RELEVANT PEER GROUP COMPARATIVE DATA. FINAL DECISIONS REGARDING THE SALARIES OF THOSE INDIVIDUALS ARE THE RESPONSIBILITY OF THE PRESIDENT. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE'S FINANCIAL STATEMENTS ARE ACCESSIBLE BY THE PUBLIC VIA THE COLLEGE'S WEBSITE. GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF PLANNED GIVING AGREEMENTS 4,888,414. CHANGE IN VALUE OF INTEREST RATE SWAP 985,409. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST 7,393,734. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. HOLL TR A-MACALESTER COLLEGE PO BOX 0634 MILWAUKEE WI 53201 416459793 PERPETUAL TRUST MN 501(C)(3) LINE 12D, III-O MACALESTER COLLEGE 1 CHARITABLE REMAINDER TRUSTS (17) INVESTMENTS MN MACALESTER COLLEGE T 1 CHARITABLE REMAINDER TRUSTS (1) INVESTMENTS MA MACALESTER COLLEGE T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 HOLL TRUST S 1549089 CASH TRANSFERRED