2016-03-30T07:57:16-05:00 2015-08-31 450250958 EIDE BAILLY LLP 800 NICOLLET MALL STE 1300 MINNEAPOLIS MN 554027033 990 2014-09-01 411968798 COLLEGE POSSIBLE INC COLL 6512889404 540 FAIRVIEW AVE N ST PAUL MN 55104 JIM MCCORKELL CEO 6512889404 2016-03-16 1 DEB NELSON CPA P01264758 6122536500 2016-03-16 2014 2016-08-17 19:52:53Z JIM MCCORKELL 540 FAIRVIEW AVE N ST PAUL MN 55104 9785952 0 X WWW.COLLEGEPOSSIBLE.ORG X 1999 MN TO HELP PROMISING LOW-INCOME YOUTH PREPARE FOR AND EARN ADMISSION TO COLLEGE AND GRADUATE. 16 15 310 242 0 0 9747298 9612846 92521 124094 46796 29184 0 -9252 9886615 9756872 0 0 0 0 5453859 7466752 0 0 1092566 2929511 3278861 8383370 10745613 1503245 -988741 10386739 10132987 741283 1509736 9645456 8623251 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. 0 0 8264773 0 124094 COLLEGE POSSIBLE HELPS PROMISING, LOW-INCOME STUDENTS BECOME COLLEGE GRADUATES. IN FY2015, COLLEGE POSSIBLE SERVED NEARLY 19,000 STUDENTS; SHOWCASED OUR INNOVATIVE MODEL AT TWO WHITE HOUSE SUMMITS; LAUNCHED A NEW SITE IN CHICAGO, 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 ARE ADMITTED TO COLLEGE. OUR STUDENTS ARE TEN TIMES MORE LIKELY TO GRADUATE AND ARE SIGNIFICANTLY MORE LIKELY TO GO TO A FOUR-YEAR SCHOOL THAN THEIR LOW-INCOME PEERS. CONTINUED ON SCHEDULE O.COLLEGE POSSIBLE PRODUCES UNMATCHED RESULTS:* HIGH SCHOOL JUNIORS HAVE RAISED THEIR ACT SCORES FROM THE BOTTOM 17TH PERCENTILE TO THE 42ND PERCENTILE OF TEST TAKERS, PUTTING COLLEGE ADMISSION WITHIN REACH. IN 2014-15, STUDENT ACT SCORES INCREASED 22.9%.* 87.4% OF 2015 HIGH SCHOOL SENIORS ENROLLED IN COLLEGE THE FALL IMMEDIATELY FOLLOWING HIGH SCHOOL GRADUATION, COMPARED TO 49% 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 IMPROVE 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 UNDERCLASSMEN 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 AUGUST 31, 2015 AT COLLEGE POSSIBLE'S FIVE SITES ARE AS FOLLOWS:GREATER TWIN CITIES, MN HIGH SCHOOL STUDENTS SERVED: 7,850AREA HIGH SCHOOLS SERVED: 23ACT SCORE INCREASE ACHIEVED BY JUNIORS: 25.8%SENIORS ADMITTED TO COLLEGE: 99%COLLEGE STUDENTS SERVED: 3,292STUDENTS WHO IMMEDIATELY ENROLL IN COLLEGE: 85.4%STUDENTS RENEWING FAFSA: 87% GREATER MILWAUKEE, WI HIGH SCHOOL STUDENTS SERVED: 2,590AREA HIGH SCHOOLS SERVED: 13ACT SCORE INCREASE ACHIEVED BY JUNIORS: 19.2%SENIORS ADMITTED TO COLLEGE: 93%COLLEGE STUDENTS SERVED: 1,145STUDENTS WHO IMMEDIATELY ENROLL IN COLLEGE: 78.8%STUDENTS RENEWING FAFSA: 89% GREATER OMAHA, NE HIGH SCHOOL STUDENTS SERVED: 1,020AREA HIGH SCHOOLS SERVED: 8ACT SCORE INCREASE ACHIEVED BY JUNIORS: 17.7%SENIORS ADMITTED TO COLLEGE: 100%COLLEGE STUDENTS SERVED: 275STUDENTS WHO IMMEDIATELY ENROLL IN COLLEGE: 89%STUDENTS RENEWING FAFSA: 92%GREATER PORTLAND, ORHIGH SCHOOL STUDENTS SERVED: 1,504AREA HIGH SCHOOLS SERVED: 5ACT SCORE INCREASE ACHIEVED BY JUNIORS: 24.6%SENIORS ADMITTED TO COLLEGE: 95%COLLEGE STUDENTS SERVED: 271STUDENTS WHO IMMEDIATELY ENROLL IN COLLEGE: 80.8%STUDENTS RENEWING FAFSA: 83%GREATER PHILADELPHIA, PAHIGH SCHOOL STUDENTS SERVED: 639AREA HIGH SCHOOLS SERVED: 4SAT SCORE INCREASE ACHIEVED BY JUNIORS: 14.7%COLLEGE STUDENTS SERVED: 133STUDENTS RENEWING FAFSA: 98.7% 8264773 1 1 0 0 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 16 0 1 310 1 0 0 0 0 0 1 1 0 0 0 0 X 16 15 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 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 ALEX WARE TREASURER 0.50 X X 0 0 0 LIBBY CARRIER DORAN 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 TULAINE MONTGOMERY DIRECTOR 0.30 X 0 0 0 JEFF BERSTEIN DIRECTOR 0.30 X 0 0 0 THOMAS RANESE DIRECTOR 0.30 X 0 0 0 JOELLE MURCHISON DIRECTOR 0.30 X 0 0 0 JULIE MOORE DIRECTOR 0.30 X 0 0 0 SCOTT NELSON DIRECTOR 0.30 X 0 0 0 LEVI DOWNS MD DIRECTOR 0.30 X 0 0 0 JEFF KUTASH DIRECTOR 0.30 X 0 0 0 MILLIE ACAMOVIC DIRECTOR 0.30 X 0 0 0 JIM MCCORKELL CHIEF EXECUTIVE OFFICER/DIRECTOR 40.00 X X 224494 0 83692 BONNIE CHRISTENSEN DIRECTOR OF FINANCE 40.00 X 72870 0 18134 LAURA LIU CHIEF OPERATING OFFICER 40.00 X 158312 0 31857 TRACI KIRTLEY CHIEF PROGRAM OFFICER 40.00 X 114941 0 19417 CASSIE CRAMER CHIEF ADVANCEMENT OFFICER 40.00 X 151195 0 25381 SARA DZUIK EXECUTIVE DIRECTOR - TWIN CITIES 40.00 X 112719 0 32460 MICHELLE TORGERSON DIRECTOR OF NEW SITE DEVELOPMENT 40.00 X 106552 0 6029 941083 0 216970 6 0 1 0 0 41772 74522 2095848 7400704 310071 9612846 SERVICE FEES 611710 67427 67427 CONSORTIUM FEES 611710 56667 56667 124094 29184 29184 19828 74522 29080 -9252 -9252 9756872 124094 0 19932 527018 155636 288359 83023 5772235 4660655 625032 486548 151745 127790 12299 11656 523985 512228 725 11032 491769 380231 67599 43939 39194 39194 33745 33745 46500 46500 3623 3623 332697 127689 81001 124007 227553 37645 18991 170917 95884 64956 11904 19024 517872 460837 34221 22814 764729 680531 50519 33679 315754 268391 15788 31575 98491 54104 14626 29761 212000 188652 14009 9339 33699 15750 17169 780 STAFF ACQUISITION,TRAIN 305941 278499 12970 14472 STUDENT SUPPORT COSTS 251179 251179 10745613 8264773 1388274 1092566 4705330 3874266 3702020 4196142 245885 6963 144213 355837 1139645 401438 616735 738207 972556 961572 10386739 10132987 549600 795595 540963 191683 173178 741283 1509736 X 4235245 4321629 5410211 4301622 9645456 8623251 10386739 10132987 -988741 -33464 0 X 0 1 X 1 1 1 X 5465188 5079695 6902009 9747298 9612846 36807036 5465188 5079695 6902009 9747298 9612846 36807036 9454506 27352530 47074 39634 37892 30479 29184 184263 36991299 624047 0.73940 0.74950 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 46500 46500 0 PART II-B, LINE 1: COLLEGE POSSIBLE PAID R. ARONSON, AN OUTSITE CONSULTANT, $30,000 FOR LOBBYING IN FY15. THE ORGANIZATION ALSO PAID EBI PUBLIC AFFAIRS, AN OUTSIDE CONSULTANT, $16,500 FOR LOBBYING IN FY15. 1139645 401438 738207 738207 DEFERRED COMPENSATION LIABILITY 30000 CAPITAL LEASE OBLIGATION 48585 DEFERRED RENT LIABILITY 94593 173178 X 11212192 -33464 1459704 1426240 9785952 -29080 -29080 9756872 12234397 1459704 29080 1488784 10745613 0 10745613 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. THE ORGANIZATION'S FORM 990 AND OTHER INCOME TAX FILINGS REQUIRED BY STATE, LOCAL, OR NON-U.S. TAX AUTHORITIES ARE NO LONGER SUBJECT TO TAX EXAMINATION FOR YEARS BEFORE 2011. PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES NETTED WITH REVENUE FOR TAX PURPOSES. -29,080. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES NETTED WITH REVENUE FOR TAX PURPOSES. 29,080. DREAM BIG EVENT 94350 74522 19828 632 25516 27 2905 94350 74522 19828 632 25516 27 2905 29080 -9252 X X X X 0 1 0 0 0 0 0 0 0 JIM MCCORKELL CHIEF EXECUTIVE OFFICER/DIRECTOR 172079 0 51744 0 671 0 40479 0 43783 0 308756 0 0 0 LAURA LIU CHIEF OPERATING OFFICER 142090 0 15645 0 577 0 5066 0 26791 0 190169 0 0 0 CASSIE CRAMER CHIEF ADVANCEMENT OFFICER 130350 0 20124 0 721 0 7082 0 18300 0 176577 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 AUGUST 31, 2015 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 2015. IRS RULES REQUIRE INCLUDING THE ENTIRE 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. X 14 266602 FMV X MISCELLANEOUS GIFTS 197 43469 0 0 1 0 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 11 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 2013) 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.