2018-01-08T14:17:48-06:00 2017-06-30 450250958 Eide Bailly LLP 800 Nicollet Mall Ste 1300 Minneapolis MN 554027033 990 2016-07-01 411968798 College Possible Inc COLL 6512889455 540 Fairview Ave N No 304 St Paul MN 55104 Jim McCorkell CEO 6512889455 2018-01-08 1 Deb Nelson CPA P01264758 6122536500 2018-01-08 198.135.125.43 2018-01-08 14:17:15 CS P D8A1E5117AA53286D53F57459EBB2DE5C7CA50FC C2F93E997884607275CF0BC09EAA2E8662D9DCFA 2016 2021-01-29 14:40:06Z Jim McCorkell 540 Fairview Ave N No 304 St Paul MN 55104 19338825 0 X www.collegepossible.org X 1999 MN To help promising low-income youth prepare for and earn admission to college and graduate. 15 14 512 154 0 0 11975202 18924033 185466 346725 22390 39667 11028 -12133 12194086 19298292 0 0 0 0 8471443 12241717 0 0 1782393 3170944 4149322 11642387 16391039 551699 2907253 10863993 13385051 1681069 1265453 9182924 12119598 X College Possible is a 501(c)(3) nonprofit making college admission and success possible for low-income students through an intensive curriculum of coaching and support. 1 0 12761477 0 346725 College Possible helps promising, low-income students become college graduates. In FY2017, College Possible served nearly 30,000 students; launched a new transformational growth approach called "Catalyze, and joined forces with major philanthropists across the country to continue to achieve stellar results for the students we serve. 98% of College Possible students earn admission to college. Our students are twice as likely to enroll in a four-year college compared to their low income peers, and about twice as likely to graduate once they get there. Overall, this ultimately makes our students FOUR TIMES as likely to earn a college degree as similar low-income students.Continued on Schedule O.College Possible produces unmatched results:* High school juniors have raised their ACT/SAT scores from the bottom 15th percentile to the 46th percentile of test takers, putting college admission within reach. In 2016-17, student ACT/SAT scores increased 24 percent.* 84.4 percent of 2017 high school seniors enrolled in college the fall immediately following high school graduation, compared to 49 percent fall enrollment for all low-income students (National Center for Education Statistics, 2013). In order to fulfill our mission, College Possible focuses on:* Identifying low-income students with the potential for higher education. Nationally, 240,000 low-income high school students graduate from high school prepared for college, but don't go (Georgetown University Center on Education and the Workforce, 2013). College Possible serves low-income students who have college potential but lack the tools to apply. * Providing academic support for college access and success. In high school, intensive ACT/SAT test preparation ensures that students' scores reflect their true aptitude for higher education in order to improve college admission opportunities while improving students' academic preparation. Once in college, we support students in identifying majors, courses and academic supports that will lead to college success.* Increasing students' understanding of the admissions process and improving college admission rates. College Possible provides intensive admissions consulting to help students compete with their more affluent peers, choose colleges that are the best fit for them and enroll in the college of their choice. * Ensuring financial aid for students. College Possible helps students identify scholarships, complete the annual financial aid process and secure work-study positions on campus. Students also receive financial literacy education to help them manage and make the most of their financial resources.* Building and sustaining peer networks to provide social and cultural support. Research shows the importance of peer support in both preparing for and succeeding in college. College Possible helps students build and expand social networks to provide this support throughout their pursuit of a college degree.* Starting all students on the college-going track early. College Possible coaches and high school seniors deliver College Prep Talks for younger students to foster early college planning and preparation.* Leveraging existing networks of support through collaborative partnerships and community outreach. College Possible works closely with other mentoring and enrichment programs creating a pipeline of services and limiting duplication of effort. Program results for the fiscal year ending June 30, 2017 at College Possible's six sites are as follows:Minnesota High school students served: 7,046Area high schools served: 26ACT score increase achieved by juniors: 27 percentSeniors admitted to college: 97 percentCollege students served: 3,341Students who immediately enroll in college: 83.7 percent (Class of 2017, as of 10.20.17)Students renewing FAFSA: 80 percentGreater Milwaukee, WI High school students served: 3051Area high schools served: 14ACT score increase achieved by juniors: 17 percentSeniors admitted to college: 98 percentCollege students served: 1,232Students who immediately enroll in college: 83.5 percent (Class of 2017, as of 10.20.17)Students renewing FAFSA: 91 percentGreater Omaha, NEHigh school students served: 2,569Area high schools served: 10ACT score increase achieved by juniors: 22 percentSeniors admitted to college: 99 percentCollege students served: 785Students who immediately enroll in college: 89.1 percent (Class of 2017, as of 10.20.17)Students renewing FAFSA: 93 percentGreater Portland, ORHigh school students served: 1,841Area high schools served: 6ACT score increase achieved by juniors: 25 percentSeniors admitted to college: 98 percentCollege students served: 479Students who immediately enroll in college: 84.6 percent (Class of 2017, as of 10.20.17)Students renewing FAFSA: 85 percentGreater Philadelphia, PAHigh school students served: 1,244Area high schools served: 8SAT score increase achieved by juniors: 24 percentSeniors Admitted to College: 98 percentStudents who immediately enroll in college: 84.2 percent (Class of 2017, as of 10.20.17)College students served: 476Students renewing FAFSA: 93 percentGreater Chicago, ILHigh school students served: 963Area high schools served: 5SAT score increase achieved by juniors: 26 percentSeniors Admitted to College: 99 percentStudents who immediately enroll in college: 81.2 percent (Class of 2017, as of 10.20.17)College students served: 195Students renewing FAFSA: 81 percent Pilot Programming:College PointHigh school students served: 4,576Tech-Connected High School Program - MNHigh school students served: 321Area high schools served: 32Seniors Admitted to College: 89 percentStatewide Initiative - PDXHigh school students served: 74 (juniors)Area high schools served: 7CatalyzeCollege students served: 1303Students renewing FAFSA: 90 percent 12761477 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 36 0 1 512 1 0 0 0 0 0 1 1 0 0 0 0 X 15 14 0 0 0 0 0 0 0 1 0 0 1 1 1 1 1 1 1 1 1 0 0 MN WI OR PA IL NY CT X X Bonnie Christensen 6512889455 540 Fairview Ave N Suite 304 St Paul MN 55104 Laura Gillund Chair 0.80 X X 0 0 0 Stephen Smith Vice Chair 0.50 X X 0 0 0 Millie Acamovic Treasurer 0.50 X X 0 0 0 Alex Ware thru Aug 2016 Treasurer 0.50 X X 0 0 0 Jeff Berstein Director 0.30 X 0 0 0 Shannon Bins Director 0.30 X 0 0 0 Joanna Burleson Director 0.30 X 0 0 0 Kweilin Ellingrud Director 0.30 X 0 0 0 Sara Gavin Director 0.30 X 0 0 0 Marlene Ibsen Director 0.30 X 0 0 0 Jeff Kutash Director 0.30 X 0 0 0 Andrea Mokros Director 0.30 X 0 0 0 Joelle Murchison Director 0.30 X 0 0 0 Scott Nelson Director 0.30 X 0 0 0 Jeff Turner Director 0.30 X 0 0 0 Thomas Ranese Thru Aug 2016 Director 0.30 X 0 0 0 Jim McCorkell Chief Executive Officer/Director 40.00 X X 275159 0 78135 Bonnie Christensen Director of Finance 40.00 X 108362 0 30952 Laura Liu Chief Operating Officer 40.00 X 190399 0 53579 Traci Kirtley Chief Program Officer 40.00 X 143683 0 34390 Wyneshia Foxworth Executive Director - PA 40.00 X 120953 0 21561 Sara Dzuik Executive Director - MN 40.00 X 142056 0 44013 Beth Giese Senior Director of External Relations 40.00 X 132837 0 25305 Christine Poorman Executive Director - IL 40.00 X 117339 0 25242 1230788 0 313177 9 0 1 0 0 189176 4694206 14040651 401631 18924033 Consortium Fees 611710 223725 223725 Service Fees 611710 123000 123000 346725 39660 39660 7 0 7 7 7 28400 189176 40533 -12133 -12133 19298292 346725 0 27534 692818 207242 364818 120758 9497210 7639573 931737 925900 262039 217815 19037 25187 1029307 790937 118655 119715 760343 586967 94569 78807 20565 20565 39097 39097 76125 76125 9272 9272 369183 229065 28371 111747 186336 32670 153666 128842 63320 11883 53639 749264 684367 31465 33432 964484 880946 40503 43035 378922 334516 3146 41260 94129 49453 44676 284653 259998 11954 12701 35131 32088 1475 1568 Staff Acquisition,Train 438834 378035 44497 16302 Student Support Costs 374485 374485 16391039 12761477 1847169 1782393 4419875 5807252 4489992 4348932 7333 9703 284163 329220 1734020 888788 675995 845232 986635 2044712 10863993 13385051 981108 990327 553578 159257 146383 115869 1681069 1265453 X 4822773 4921725 4360151 7197873 9182924 12119598 10863993 13385051 2907253 29421 0 X 0 1 X 1 1 1 X 6902009 9747298 9612846 11975202 17550033 55787388 6902009 9747298 9612846 11975202 17550033 55787388 12146748 43640640 37892 30479 29184 22390 39660 159605 55946993 878602 0.78000 0.74950 X Part II, Short Year Explanation: College Possible changed their year-end from August 31st to June 30th. Information reported for 2015 is for the ten month period of September 1, 2015 - June 30, 2016. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 76125 76125 0 Part II-B, Line 1: College Possible paid Roger J Aronson, an outside consultant, $30,000 for lobbying in FY17. The organization also paid EBI Public Affairs, an outside consultant, $18,000 for lobbying in FY17. The organization also paid Wisconsin Capitol Solutions, an outside consultant, $28,125 for lobbying in FY17. 1734020 888788 845232 845232 Deferred compensation liability 30000 Capital lease obligation 33338 Deferred rent liability 52531 115869 X 21013746 29421 1645500 1674921 19338825 -40533 -40533 19298292 18077072 1645500 40533 1686033 16391039 0 16391039 Part X, Line 2: The Organization is organized as a Minnesota not-for-profit corporation and has been recognized by the Internal Revenue Service (IRS) as exempt from federal income taxes under Internal Revenue Code Section 501(c)(3) and has been classified as an organization that is not a private foundation under Section 509(a). The Organization is annually required to file a Return of Organization Exempt from Income Tax (Form 990) with the IRS. In addition, the Organization is subject to income tax on any net income that is derived from business activities that are unrelated to its exempt purpose. The Organization is not subject to unrelated business income tax and has not filed an Exempt Organization Business Income Tax Return (Form 990-T) with the IRS. The Organization believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and, as such, does not have any uncertain tax positions that are material to the financial statements. The Organization would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities, if such interest and penalties were incurred. Part XI, Line 4b - Other Adjustments: Special event expenses netted with revenue for tax purposes. -40,533. Part XII, Line 2d - Other Adjustments: Special event expenses netted with revenue for tax purposes. 40,533. Dream Big Event 217576 189176 28400 548 5472 23511 11002 217576 189176 28400 548 5472 23511 11002 40533 -12133 X X X X 0 1 0 0 0 0 0 0 0 Jim McCorkell Chief Executive Officer/Director 198959 0 59052 0 17148 0 42150 0 35984 0 353293 0 16538 0 Laura Liu Chief Operating Officer 163990 0 25650 0 759 0 11181 0 42398 0 243978 0 0 0 Traci Kirtley Chief Program Officer 126186 0 16787 0 710 0 8811 0 25579 0 178073 0 0 0 Sara Dzuik Executive Director - MN 120248 0 21136 0 672 0 8393 0 35620 0 186069 0 0 0 Beth Giese Senior Director of External Relation 121050 0 11106 0 681 0 5527 0 19778 0 158142 0 0 0 Part I, Line 4b The Board of Directors has a non-qualified 457(F) deferred compensation plan in place for CEO, Jim McCorkell. On June 30, 2017 the plan balance was $30,000; however, none of this was vested and Mr. McCorkell had no ability to access the funds in fiscal year 2017. IRS rules require including the entire plan balance as Deferred Compensation on Schedule J, Part II, Column C, despite the fact that none of it was actually paid to Mr. McCorkell and none of it is under his control. He may eventually receive that compensation in the future, if he meets certain standards set by the board of directors. The board of directors approved $15,000 during fiscal year 2017 which is included in Schedule J, Part II, Column B(iii). This compensation was reported in a previous year as deferred compensation as noted in Column (F), but is required to be shown as taxable compensation in the year of receipt. Schedule J, Part III, Column B represents the total taxable compensation reported to Mr. McCorkell on his Form W-2 for the calendar year ended December 31, 2016 - $275,160. X 24 347578 FMV X Miscellaneous gifts 394 54053 FMV 0 0 1 0 Form 990, Part III, line 2 Catalyze is College Possible's new partnership strategy aimed at bringing near-peer coaching to significantly more students nationwide. This new approach builds the capacity of colleges and universities to adopt and integrate the College Possible model into their infrastructure to better support every low-income or first-generation student on their campus. During the initial phase (2016-17 academic year), we partnered with four institutions and continued to operate under College Possible's direct service model. We also invited college students who did not participate in our high school program to join College Possible for the first time. The objective was to evaluate whether our near-peer coaching model could be just as effective for those who did not have the high school program experience. Beginning in the 2017-18 school year, we will shift towards the full Catalyze model, with institutional staff taking ownership over key elements of the program. During 2016-17, four institutions participated in the Catalyze Program: Augsburg College, the College of Saint Benedict, Saint John's University, and Saint Cloud State University (SCSU). Over the course of the year, eight coaches served 294 newly recruited students and 483 students recruited into College Possible during high school. Early data analyzed in October 2017 shows that students receiving College Possible support have an annual retention rate higher than their peers by about 8 percent. In some cases, retention rates for College Possible students are even higher than those of the general student body, leveling the playing field across income differences. Form 990, Part VI, Section A, line 8b The Board of Directors may act by and through such committees as may be specified in resolutions approved by a majority of the total number of directors. Committees are subject at all times to the direction and control of the Board of Directors. Form 990, Part VI, Section B, line 11b The Form 990 will be reviewed by the Director of Finance and Chief Executive Officer. The board will receive the Form 990 via e-mail. The board will review the Form 990 and authorize management to sign it on the organization's behalf. Form 990, Part VI, Section B, line 12c All Board members and officers are required to fill out an annual conflict of interest form. Employees complete a conflict of interest form as part of their employment with the organization. Board forms are reviewed by the CEO initially, then by the Board of Directors if potential conflicts are identified. Staff forms are reviewed by the Operations Manager initially, then by the COO and CEO if potential conflicts are identified. Persons with identified conflicts of interest are recused from participation in decisions affected by the conflict of interest. Transactions with parties with whom a conflicting interest exists may be undertaken only if all of the following are observed: 1. The conflict of interest is fully disclosed; 2. The person with the conflict of interest is excluded from the discussion and approval of such transaction; 3. A competitive bid or comparable valuation exists; and 4. The board chair or a duly constituted committee thereof has determined that the transaction is in the best interest of the organization. Disclosure in the organization should be made to the CEO (or if she or he is the one with the conflict, then to the Board Chair), who shall bring the matter to the attention of the Board Chair or the Budget and Oversight Committee. Disclosure involving directors should be made to the Board Chair (or if she or he is the one with the conflict, then to the Board Vice-Chair), who shall bring these matters to the board or a duly constituted committee thereof. The board or a duly constituted committee thereof shall determine whether a conflict exists and in the case of an existing conflict, whether the contemplated transaction may be authorized as just, fair, and reasonable to College Possible. The decision of the board, or the designated committee, on these matters will rest in their sole discretion, and their concern must be the welfare of College Possible and the advancement of its purpose. Form 990, Part VI, Section B, line 15a The CEO's compensation is determined annually by the organization's board of directors. An independent consultant is hired regularly (most recently in 2016) to determine the market rate for the CEO's compensation. Annually, the compensation committee reviews comparable compensation data for nonprofit CEO's/Executive Directors as well as pre-determined performance metrics for the organization's CEO. Form 990, Part VI, Section C, line 19 The audit report and Form 990 are available on College Possible's website. All other documents are available upon request.