2021-03-30T08:54:03-05:00 2020-05-31 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2019-06-01 410693962 MACALESTER COLLEGE MACA 6516966000 1600 GRAND AVENUE ST PAUL MN 55105 DAVID WHEATON VP FOR ADMIN AND FINANCE 6516966000 2021-03-30 1 KAREN GRIES P00078514 6123764500 2021-03-28 2019 2022-09-23 18:48:47Z BRIAN ROSENBERG 1600 GRAND AVENUE ST PAUL MN 55105 456642247 0 X WWW.MACALESTER.EDU X 1874 MN MACALESTER IS A FOUR-YEAR HIGHLY-SELECTIVE LIBERAL ARTS COLLEGE. 34 33 2946 1800 -3691794 0 16816080 16715092 131451845 127414294 40144417 48704195 1910068 1741320 190322410 194574901 59175901 58863366 0 0 74182389 75115282 0 0 5473622 50183771 48989465 183542061 182968113 6780349 11606788 1074114627 1007704963 125234227 119761147 948880400 887943816 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 119713730 58759410 98501383 INSTRUCTION OF STUDENTS AND ACADEMIC SUPPORT OF INSTRUCTION: STUDENTS FROM ACROSS THE UNITED STATES AND 96 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 39 MAJORS AND 40 MINORS. MACALESTER IS COMMITTED TO ADMITTING AN ECONOMICALLY DIVERSE STUDENT BODY AND MEETS THE FULL FINANCIAL NEED OF EVERY STUDENT. ENROLLMENT FOR FALL 2019 WAS 2,098, AND 459 STUDENTS GRADUATED DURING THE 2019-2020 FISCAL YEAR. 24484955 0 20146410 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. 10093420 0 8304944 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. 1805982 103956 1636437 OTHER SERVICES - RESEARCH, PUBLIC SERVICES, POST OFFICE, ETC. 1805982 103956 1636437 156098087 1 1 0 1 0 0 0 0 0 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 2813 0 1 2946 1 1 1 0 0 0 0 0 0 0 0 0 1 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 DAVID WHEATON 6516966000 1600 GRAND AVENUE ST PAUL MN 55105 BRIAN ROSENBERG PRESIDENT 40.00 X X 2152966 0 127690 GARY MARTIN CHIEF INVESTMENT OFFICER 40.00 X 360292 0 37349 DAVID WHEATON VP FOR ADMIN AND FINANCE 40.00 X 295270 0 44597 DAVID A BROWN VP FOR ADVANCEMENT 40.00 X 270601 0 43334 KARINE MOE PROVOST/DEAN OF FACULTY 40.00 X 250354 0 42468 DONNA LEE VP FOR STUDENT AFFAIRS 40.00 X 188503 0 59778 DERRICK GRIFFIN DIR. OF ALT. INVESTMENTS 40.00 X 206922 0 38234 JEFFREY ALLEN VP FOR ADMISS. & FIN. AID 40.00 X 205852 0 28053 JENNIFER HAAS AVP FOR IT SERVICES 40.00 X 173733 0 36998 DIANE MICHELFELDER PROFESSOR 40.00 X 179030 0 30812 KATA CHILLAG PROFESSOR 40.00 X 170607 0 22012 CHRISTINE SOLSO AVP FOR DEVELOPMENT 40.00 X 162959 0 28667 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 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 DONKOR TRUSTEE 1.00 X 0 0 0 STEVEN EULLER 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 JEFFREY LARSON 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 MA 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 4617089 0 539992 131 0 1 0 MCGOUGH CONSTRUCTION PO BOX 1450 MINNEAPOLIS MN 55485 CONSTRUCTION 6049235 BON APPETIT MANAGEMENT CO 91337 COLLECTIONS DRIVE CHICAGO IL 60603 FOOD SERVICE 5334867 IES 33 W MONROE ST STE 2300 CHICAGO IL 60603 STUDY ABROAD PROGRAMS 855330 WORLD LEARNING INC 1 KIPLING RD BRATTLEBORO VT 05301 STUDY ABROAD PROGRAMS 642353 SILCHESTER INTERNATIONAL INVESTORS INC 780 3RD AV NEW YORK NY 10017 INVESTMENT FEES 633916 50 1193776 15521316 654451 16715092 TUITION & FEES 611710 113265394 113265394 SALES & SERVICE OF AUX 611710 14148900 14148900 127414294 14900472 -3716468 18616940 1540314 973874 566440 566440 24674 541766 294897195 261093472 33803723 33803723 33803723 MISCELLANEOUS REVENUE 900099 1174880 1174880 1174880 194574901 128589174 -3691794 52962429 103956 103956 58759410 58759410 4099078 775008 2834577 489493 54521197 45952732 5538911 3029554 4061790 3271143 612746 177901 8980143 7269745 1431928 278470 3453074 2728343 577583 147148 1513584 585875 927709 87344 87344 103111 103111 1346549 1346549 9614959 7181562 2220117 213280 63686 37416 17139 9131 5529753 3835881 1070750 623122 2610928 242994 2247712 120222 3091785 2836985 176635 78165 2182616 1669313 250915 262388 354346 220208 114906 19232 3149677 3133169 16508 10074005 9079953 994052 70957 70957 STUDY AWAY PROGRAMS 4761906 4761906 BOOKS, PERIODICALS, ART 1504947 1467238 27864 9845 MINOR EQUIPMENT 194940 183793 11147 2734372 2001457 728391 4524 182968113 156098087 21396404 5473622 12845936 13899046 3498692 5310430 305716 1009188 864051 822021 379470450 149107899 236335905 230362551 433686390 325972530 343502912 388107174 8305734 8232268 34769291 33989755 1074114627 1007704963 15510761 12477550 3892941 3089889 1336176 2493266 90097651 86250006 14396698 15450436 125234227 119761147 X 214569571 206177464 734310829 681766352 948880400 887943816 1074114627 1007704963 X 11606788 -71445457 1188054 -2285969 X 0 1 X 1 1 1 X 10299433 14956738 18996565 16816080 16715092 77783908 10299433 14956738 18996565 16816080 16715092 77783908 6144978 71638930 15715693 16039275 18984699 15426497 16440786 82606950 1178436 1095655 1252722 1298146 1174880 5999839 166390697 538434057 0.43050 0.43410 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2015 AMOUNT: $ 1,178,436. 2016 AMOUNT: $ 1,095,655. 2017 AMOUNT: $ 1,252,722. 2018 AMOUNT: $ 1,298,146. 2019 AMOUNT: $ 1,174,880. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 1000000 1000000 1000000 1000000 4000000 6000000 98449 101820 104510 103111 407890 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 $131,971 DURING THE FISCAL YEAR. BASED ON FIGURES PROVIDED BY MPCC, $103,111 OF MACALESTER'S DUES WENT, IN PART, TOWARD LOBBYING. 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 745390030 2687876 -40236546 25471506 7529124 2704688 672136042 0.08560 0.46580 0.44860 0 0 4362100 4362100 15755110 342860594 135753749 222861955 16492646 13354150 3138496 230362551 LP INTEREST IN DOM EQ 97948407 F LP INTEREST IN PRIVATE EQ 93332516 F LP INT IN HEDGE FUNDS 89433875 F LP INT IN REAL EST. 25984935 F LP INT IN NAT. RES. 33800943 F LIQUID ALT. INV. 47606498 F 388107174 INTEREST RATE SWAP AGREEMENT 2401772 LIAB UNDER PLANNED GIVING AGMTS 8279163 UNAMORTIZED BOND PREMIUM 4769501 15450436 X 120131375 -71445457 -1312095 -72757552 192888927 1685974 1685974 194574901 181067959 973874 973874 180094085 1685974 1188054 2874028 182968113 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 -246,574. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST -595,711. CHANGE IN VALUE OF INTEREST RATE SWAP -1,443,684. RENTAL EXPENSE 973,874. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 973,874. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT OFFICE OPERATING EXPENSES 1,188,054. 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). MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICE ARCHAEOLOGICAL WORK 27411 EUROPE 0 0 PROGRAM SERVICE CLASS TRIP 46184 EUROPE 0 0 PROGRAM SERVICE STUDENT RECRUITMENT 10128 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICE STUDENT RECRUITMENT 24308 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICE STUDENT RECRUITMENT 6078 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICE STUDY ABROAD PROGRAMS 84650 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICE STUDY ABROAD PROGRAMS 788165 EUROPE 0 0 PROGRAM SERVICE STUDY ABROAD PROGRAMS 2504925 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICE STUDY ABROAD PROGRAMS 210479 NORTH AMERICA 0 0 PROGRAM SERVICE STUDY ABROAD PROGRAMS 31325 RUSSIA AND THE NEIGHBORING COUNTRIES 0 0 PROGRAM SERVICE STUDY ABROAD PROGRAMS 69436 SOUTH AMERICA 0 0 PROGRAM SERVICE STUDY ABROAD PROGRAMS 583735 SOUTH ASIA 0 0 PROGRAM SERVICE STUDY ABROAD PROGRAMS 124415 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICE STUDY ABROAD PROGRAMS 229746 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENTS 4896589 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 51657632 0 0 0 0 0 0 3491849 57803357 61295206 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) 15000 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 N/A N/A SUPPORT OF COMMUNITY ORGANIZING IN THE MACALESTER-GROVELAND NEIGHBORHOOD ADELPHI UNIVERSITY 1 SOUTH AVE GARDEN CITY NY 11530 111630741 501(C)(3) 19165 N/A N/A RESEARCH SUBGRANT WASHINGTON AND LEE UNIVERSITY 204 W WASHINGTON ST LEXINGTON VA 24450 540505977 501(C)(3) 48711 N/A N/A RESEARCH SUBGRANT WHITMAN COLLEGE 345 BOYER AVE WALLA WALLA WA 99362 910567740 501(C)(3) 11080 N/A N/A RESEARCH SUBGRANT 5 0 SCHOLARSHIPS AND GRANTS TO STUDENTS 1712 58759410 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. 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 X 0 1 0 0 0 0 0 0 0 BRIAN ROSENBERG PRESIDENT 554122 0 0 0 1598844 0 46000 0 81690 0 2280656 0 1100000 0 GARY MARTIN CHIEF INVESTMENT OFFICER 357810 0 0 0 2482 0 28000 0 9349 0 397641 0 0 0 DAVID WHEATON VP FOR ADMIN AND FINANCE 291410 0 0 0 3860 0 28000 0 16597 0 339867 0 0 0 DAVID A BROWN VP FOR ADVANCEMENT 260543 0 0 0 10058 0 26796 0 16538 0 313935 0 0 0 KARINE MOE PROVOST/DEAN OF FACULTY 249275 0 0 0 1079 0 25850 0 16618 0 292822 0 0 0 DONNA LEE VP FOR STUDENT AFFAIRS 187766 0 0 0 737 0 19250 0 40528 0 248281 0 0 0 DERRICK GRIFFIN DIR. OF ALT. INVESTMENTS 206720 0 0 0 202 0 21782 0 16452 0 245156 0 0 0 JEFFREY ALLEN VP FOR ADMISS. & FIN. AID 205662 0 0 0 190 0 20814 0 7239 0 233905 0 0 0 JENNIFER HAAS AVP FOR IT SERVICES 173492 0 0 0 241 0 18368 0 18630 0 210731 0 0 0 DIANE MICHELFELDER PROFESSOR 176993 0 0 0 2037 0 18327 0 12485 0 209842 0 0 0 KATA CHILLAG PROFESSOR 170473 0 0 0 134 0 14520 0 7492 0 192619 0 0 0 CHRISTINE SOLSO AVP FOR DEVELOPMENT 162065 0 0 0 894 0 16276 0 12391 0 191626 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 HER 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. 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. PART I, LINE 4B THE COLLEGE'S PRESIDENT IS THE SOLE PARTICIPANT IN TWO NONQUALIFIED RETIREMENT PLANS. THE FIRST PLAN WAS FUNDED ANNUALLY BETWEEN 2008 AND 2018 AND REQUIRED CERTAIN TIME-IN-SERVICE AND PERFORMANCE REQUIREMENTS TO BE MET FOR THE PRESIDENT TO RECEIVE THE PLAN'S ASSETS. THOSE REQUIREMENTS WERE MET IN 2019, SO THE FULL VALUE OF THE PLAN WAS RELEASED TO THE PRESIDENT AND IS INCLUDED IN "OTHER REPORTABLE COMPENSATION." THE COLLEGE PLACED $18,000 IN THE SECOND PLAN DURING THE YEAR COVERED BY THIS FORM. THIS PLAN HAS NO TIME-IN-SERVICE OR PERFORMANCE REQUIREMENTS TO RECEIVE THE PLAN'S ASSETS. A MN HIGHER EDUCATION FACILITIES AUTHORITY 410988525 6041518J2 2003-02-20 15300000 DORMITORY IMPROVEMENTS 0 0 0 B MN HIGHER EDUCATION FACILITIES AUTHORITY 410988525 60416HZK3 2012-12-12 15166520 BLDG RENOVATION 0 0 0 C MN HIGHER EDUCATION FACILITIES AUTHORITY 410988525 60416HP99 2015-09-11 24876534 CONST/REFINANCE BONDS 0 0 0 D MN HIGHER EDUCATION FACILITIES AUTHORITY 410988525 60416H5R1 2017-11-08 43520305 CONST/REFINANCE BONDS 0 0 0 A 15300000 300000 15000000 2004 0 0 1 1 B 1675000 15166520 166520 15000000 2014 0 0 1 1 C 4660000 24876534 224105 5000000 1 0 0 0 D 6385000 43520305 189449 22014833 1 1 0 0 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 1 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 ISSUER NAME: MN HIGHER EDUCATION FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 05/01/2017 X 64 654451 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 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 FOR 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 FOR 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 -246,574. CHANGE IN VALUE OF INTEREST RATE SWAP -1,443,684. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST -595,711. 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 CA 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 A S 1524417 CASH TRANSFERRED