2021-05-13T13:59:36-05:00 2020-06-30 941341042 FRANK RIMERMAN & CO LLP 1801 PAGE MILL ROAD PALO ALTO CA 94304 990 2019-07-01 462589747 MINERVA INSTITUTE FOR RESEARCH AND SCHOLARSHIP MINE 4156497658 1145 MARKET STREET 9TH FLOOR SAN FRANCISCO CA 94103 NIKOLAUS PELKA CFO 4156497658 2021-05-12 1 PRERNA JAGADA P01063809 6508458100 2021-05-12 2019 2022-09-23 18:48:47Z NIKOLAUS PELKA 1145 MARKET STREET 9TH FLOOR SAN FRANCISCO CA 94103 54176732 0 X WWW.MINERVA.KGI.EDU/MINERVA-INSTITUTE X 2017 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. 6 6 0 6 0 0 327025 38012391 0 16126921 213 4028 0 33392 327238 54176732 0 7155736 0 0 0 13541278 0 2154 2154 225430 10153266 225430 30852434 101808 23324298 371749 33231547 138379 9673879 233370 23557668 X 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. 1 0 27774478 7155736 15715601 IN COOPERATION WITH THE KECK GRADUATE INSTITUTE, 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. 507563 388200 IN COOPERATION WITH THE KECK GRADUATE INSTITUTE, 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. 186931 23120 IN COOPERATION WITH THE KECK GRADUATE INSTITUTE, 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. 28468972 1 1 0 0 0 0 0 0 0 0 1 1 0 0 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 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 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 290937 0 8561 THERESE CANNON ACTING PRESIDENT 40.00 X 278678 0 1170 RICHARD HOLMAN DEAN OF FACULTY 40.00 X 229202 0 14517 BRIAN ROSS DEAN OF ARTS & SCIENCES 40.00 X 205453 0 12482 JUNKO GREEN CHIEF DISCOVERY & COMMUNICATIONS OFFICER 40.00 X 161117 0 2146 CHRISTINE LOOSER ASSOCIATE PROFESSOR 40.00 X 157881 0 8499 DOLLIE DAVIS ASSOCIATE DEAN OF FACULTY 40.00 X 152491 0 7888 JAMES LYDA DEAN OF STUDENTS 40.00 X 141875 0 4264 NIKOLAUS PELKA CFO STARTED 11/2019 40.00 X 40868 0 0 JOSEPH R KERREY CHAIR 1.00 X X 0 0 0 BEN NELSON FOUNDER/DIRECTOR 5.00 X 0 0 0 ZHANG YIMING DIRECTOR 1.50 X 0 0 0 MICHAEL HORN DIRECTOR 1.50 X 0 0 0 STACEY CHILDRESS DIRECTOR 1.50 X 0 0 0 PHIL BRONNER DIRECTOR 1.50 X 0 0 0 1658502 0 59527 8 0 1 1 0 38012391 10684242 38012391 TUITION AND FEES 900099 16126921 16126921 16126921 4028 4028 33392 0 33392 33392 33392 54176732 16126921 0 37420 2164379 2164379 4991357 4991357 930772 930772 12610506 12162386 448120 2154 2154 423063 117119 305944 624972 624972 42634 39193 3441 546585 228845 317740 67346 67346 295612 291666 3946 59394 59394 343307 147710 195597 DORMITORIES 4973939 4973939 COURSE AND SOFTWARE 2164000 2164000 SOFTWARE AND LICENSES 342248 260272 81976 STUDENT LOCAL PROGRAM 174048 172425 1623 96118 63363 32755 30852434 28468972 2381308 2154 357999 2183071 16000000 2548816 13750 72140 268052 59394 0 208658 10684215 0 1534647 371749 33231547 361800 39000 1333000 138379 7940079 138379 9673879 X 233370 7557668 16000000 233370 23557668 371749 33231547 23324298 0 X X 0 1 X 1 0 X 289544 327025 38012391 38628960 289544 327025 38012391 38628960 34315903 4313057 37420 37420 38666380 16126921 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 83439 16308 67131 184613 43086 141527 208658 10684215 F 10684215 DUE TO MINERVA PROJECT 7131292 STUDENT DEPOSITS 640762 DEFERRED RENT 168025 7940079 X 48771476 1750480 -7155736 -5405256 54176732 0 54176732 25447178 1750480 1750480 23696698 7155736 7155736 30852434 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). THERE WAS NO TAX LIABILITY RELATING TO UBTI AT JUNE 30, 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 DATE OF FILING. THE INSTITUTE BELIEVES THAT ITS TAX FILING POSITIONS WILL BE SUSTAINED UPON TAX EXAMINATIONS; THEREFORE, NO LIABILITY FOR UNRECOGNIZED INCOME TAX BENEFITS HAS BEEN RECORDED AT JUNE 30, 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 -7,155,736. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 7,155,736. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 ASIA 0 21 PROGRAM SERVICES/GRANTS EXPENDITURES TO SETUP AND MANAGE LOCAL DORMITORIES, STUDENT EVENTS, STUDENT SERVICES, OUTREACH, AND GLOBAL FACULTY. 2521539 EUROPE 0 16 PROGRAM SERVICES/GRANTS EXPENDITURES TO SETUP AND MANAGE LOCAL DORMITORIES, STUDENT EVENTS, STUDENT SERVICES, AND OUTREACH. 1772261 SOUTH AMERICA 0 12 PROGRAM SERVICES/GRANTS EXPENDITURES TO SETUP AND MANAGE LOCAL DORMITORIES, STUDENT EVENTS, STUDENT SERVICES, OUTREACH, AND GLOBAL FACULTY. 1239708 AFRICA 0 5 PROGRAM SERVICES OUTREACH ACTIVITIES AND GLOBAL FACULTY. 373122 NORTH AMERICA 0 6 PROGRAM SERVICES GLOBAL FACULTY 277188 OCEANIA 0 1 PROGRAM SERVICES GLOBAL FACULTY 59747 0 61 0 0 0 61 6243565 0 6243565 SCHOLARSHIPS ASIA 210 2303791 SCHOLARSHIPS EUROPE 231 1693849 SCHOLARSHIPS SOUTH AMERICA 133 993717 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 112 2164379 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 290937 0 0 0 0 0 0 0 8561 0 299498 0 0 0 THERESE CANNON ACTING PRESIDENT 278678 0 0 0 0 0 0 0 1170 0 279848 0 0 0 RICHARD HOLMAN DEAN OF FACULTY 229202 0 0 0 0 0 0 0 14517 0 243719 0 0 0 BRIAN ROSS DEAN OF ARTS & SCIENCES 205453 0 0 0 0 0 0 0 12482 0 217935 0 0 0 JUNKO GREEN CHIEF DISCOVERY & COMMUNICATIONS OFF 161117 0 0 0 0 0 0 0 2146 0 163263 0 0 0 CHRISTINE LOOSER ASSOCIATE PROFESSOR 157881 0 0 0 0 0 0 0 8499 0 166380 0 0 0 DOLLIE DAVIS ASSOCIATE DEAN OF FACULTY 152491 0 0 0 0 0 0 0 7888 0 160379 0 0 0 JAMES LYDA DEAN OF STUDENTS 141875 0 0 0 0 0 0 0 4264 0 146139 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 $299,498 THERESE CANNON $279,848 RICHARD HOLMAN $243,719 BRIAN ROSS $217,935 CHRISTINE LOOSER $166,380 JUNKO GREEN $163,263 DOLLIE DAVIS $160,379 JAMES LYDA $146,139 X 1 2500000 FMV X 1 10684242 FMV 0 1 0 PART I, COLUMN (B): NUMBER OF CONTRIBUTIONS FORM 990, PART III, LINE 2 PLEASE SEE PART III, LINE 4. 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.