2014-03-24T14:50:50-05:00 2013-08-31 450250958 EIDE BAILLY LLP 800 NICOLLET MALL STE 1300 MINNEAPOLIS MN 554027033 990 2012-09-01 411968798 COLLEGE POSSIBLE INC COLL 6512889455 540 FAIRVIEW AVE N NO 304 ST PAUL MN 55104 JIM MCCORKELL 6512889455 2014-03-18 1 DEB NELSON CPA P01264758 6122536500 2014-03-18 2012 2015-11-30 17:44:51Z X JIM MCCORKELL 540 FAIRVIEW AVE N NO 304 ST PAUL MN 55104 7411932 0 X WWW.COLLEGEPOSSIBLE.ORG X 1999 MN TO HELP PROMISING LOW-INCOME YOUTH PREPARE FOR AND EARN ADMISSION TO COLLEGE AND GRADUATE. 17 16 190 339 0 0 5079695 6902009 207029 78246 45151 48993 0 0 5331875 7029248 0 0 0 0 3528542 4731817 0 0 795258 1432359 2212170 4960901 6943987 370974 85261 8500907 8863854 491101 768150 8009806 8095704 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 5010133 78246 * 98 PERCENT OF COLLEGE POSSIBLE STUDENTS ARE ADMITTED TO COLLEGE * COLLEGE POSSIBLE STUDENTS ARE GRADUATING AT FIVE TIMES THE RATE OF THEIR LOW-INCOME PEERS* COLLEGE POSSIBLE STUDENTS ARE TWO TIMES AS LIKELY TO GO TO A FOUR-YEAR SCHOOL THAN THEIR LOW-INCOME PEERS* 80 PERCENT OF 2011 COLLEGE FRESHMEN WERE RETAINED FROM THEIR FIRST TO SECOND YEAR* HIGH SCHOOL JUNIORS HAVE RAISED THEIR ACT SCORES FROM THE BOTTOM 17TH PERCENTILE TO THE 35TH PERCENTILE OF TEST TAKERS, PUTTING COLLEGE ADMISSION WITHIN REACH. IN 2012-13, STUDENT ACT SCORES INCREASED OVER 22 PERCENT.* 85 PERCENT OF 2013 HIGH SCHOOL SENIORS ENROLLED IN COLLEGE THE FALL IMMEDIATELY FOLLOWING HIGH SCHOOL GRADUATION, COMPARED TO 52 PERCENT FALL ENROLLMENT FOR ALL LOW-INCOME STUDENTS (NATIONAL CENTER FOR EDUCATION STATISTICS, 2012). IN TOTAL, 93 PERCENT OF COLLEGE POSSIBLE STUDENTS HAVE ENROLLED IN COLLEGE. RESULTS FROM A 2013 RANDOMIZED CONTROLLED TRIAL (RCT) BY HARVARD KENNEDY SCHOOL PROFESSOR, DR. CHRIS AVERY, SHOWS COLLEGE POSSIBLE HAS A SIGNIFICANT POSITIVE EFFECT ON ENROLLMENT FOR LOW-INCOME STUDENTS INTO FOUR-YEAR COLLEGES AND UNIVERSITIES. COLLEGE POSSIBLE IS THE FIRST AND ONLY COLLEGE ACCESS ORGANIZATION TO ATTEMPT SUCH A RIGOROUS EVALUATION. NATIONALLY, ONLY 12 PERCENT OF RCTS SHOW A POSITIVE FINDING (COALITION FOR EVIDENCE-BASED POLICY, 2013). IN 2013, WE ALSO COMPLETED THE FIRST EVALUATION OF COLLEGE POSSIBLE'S IMPACT ON COLLEGE STUDENTS WITH ICF INTERNATIONAL, WHICH SHOWED OUR STUDENTS EARN DEGREES AT HIGHER RATES THAN THEIR LOW-INCOME PEERS. 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, 2013 AT COLLEGE POSSIBLE'S FOUR SITES ARE AS FOLLOWS:GREATER TWIN CITIES, MN HIGH SCHOOL STUDENTS SERVED: 5,100AREA HIGH SCHOOLS SERVED: 19ACT SCORE INCREASE ACHIEVED BY JUNIORS: 25%SENIORS ADMITTED TO COLLEGE: 99%COLLEGE STUDENTS SERVED: 3,500STUDENTS WHO IMMEDIATELY ENROLL IN COLLEGE: 84%STUDENTS RENEWING FAFSA: 97% GREATER MILWAUKEE, WI HIGH SCHOOL STUDENTS SERVED: 1,750AREA HIGH SCHOOLS SERVED: 10ACT SCORE INCREASE ACHIEVED BY JUNIORS: 19.2%SENIORS ADMITTED TO COLLEGE: 98%COLLEGE STUDENTS SERVED: 300STUDENTS WHO IMMEDIATELY ENROLL IN COLLEGE: 79%STUDENTS RENEWING FAFSA: 93% GREATER OMAHA, NE HIGH SCHOOL STUDENTS SERVED: 650AREA HIGH SCHOOLS SERVED: 6ACT SCORE INCREASE ACHIEVED BY JUNIORS: 15.2%SENIORS ADMITTED TO COLLEGE: 97%GREATER PORTLAND, ORHIGH SCHOOL STUDENTS SERVED: 250IN TOTAL, INCLUDING SERVED THROUGH "COLLEGE PREP TALKS," COLLEGE POSSIBLE SERVED APPROXIMATELY 12,000 STUDENTS IN THE 2012-13 ACADEMIC YEAR. 5010133 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 10 0 1 190 1 0 0 0 0 0 0 0 0 0 0 X 17 16 0 0 1 0 0 0 0 1 0 0 1 1 1 1 1 1 1 1 1 0 0 MN WI OR X X MARY ANDERSON 6512889455 540 FAIRVIEW AVE N SUITE 304 ST PAUL MN 55104 LEVI DOWNS MD 0.80 X X 0 0 0 LAURA GILLUND 0.50 X X 0 0 0 MARGARET MURPHY 0.50 X X 0 0 0 LIBBY CARRIER DORAN 0.30 X 0 0 0 KWEILIN ELLINGRUD 0.30 X 0 0 0 TODD FIREBAUGH 0.30 X 0 0 0 SARA GAVIN 0.30 X 0 0 0 LIBBY DRISCOLL HLAVKA 0.30 X 0 0 0 TULAINE MONTGOMERY 0.30 X 0 0 0 DAVID M LARSON 0.30 X 0 0 0 THOMAS RANESE 0.30 X 0 0 0 STEPHEN SMITH 0.30 X 0 0 0 JULIE MOORE 0.30 X 0 0 0 MICHAEL NEWMAN 0.30 X 0 0 0 BARRY NORDSTRAND 0.30 X 0 0 0 ALEX WARE 0.30 X 0 0 0 JIM MCCORKELL 40.00 X X 236259 0 30298 KIM MOORE BAILEY 40.00 X 109751 0 12747 ANGELA KLEIN 40.00 X 0 0 0 TRACI KIRTLEY 40.00 X 108766 0 11794 454776 0 54839 3 1 1 0 0 148403 1073142 5680464 125910 6902009 SERVICE FEES 611710 65746 65746 CONSORTIUM FEES 611710 12500 12500 78246 37892 37892 393785 382684 11101 11101 11101 7029248 78246 0 48993 437661 298749 103709 35203 123364 112262 7402 3700 3454400 2683542 305163 465695 85986 63547 10831 11608 342231 253804 45900 42527 288175 225498 32597 30080 27621 27621 32026 32026 3292 3292 618928 254927 305945 58056 316218 220375 21558 74285 25093 25093 260169 234907 13374 11888 46235 35079 9499 1657 232223 176192 47709 8322 57946 49098 8848 7182 74 7108 TEACHING MATERIALS & SU 321135 284355 29685 7095 ACQUISITION,TRAINING & 254706 117715 91849 45142 9396 9 9387 6943987 5010133 1138596 795258 X 19005 17607 0 1398 5307138 4338615 2027589 2844263 67296 180599 141117 155363 568385 110944 103811 457441 853956 887573 8500907 8863854 461101 692874 10000 30000 65276 491101 768150 X 4910004 4559214 3099802 3536490 8009806 8095704 8500907 8863854 85261 637 0 X 0 1 X 1 1 1 X 2980615 4112929 5465188 5079695 6902009 24540436 2980615 4112929 5465188 5079695 6902009 24540436 5718011 18822425 55666 33039 47074 39634 37892 213305 24753741 583432 0.76040 0.80180 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 18661 6165 12496 549724 104779 444945 457441 DEFERRED COMPENSATION LIABILITY 15000 CAPITAL LEASE OBLIGATION 36511 DEFERRED RENT LIABILITY 13765 65276 X 7107843 637 77958 78595 7029248 0 7029248 7021945 77958 77958 6943987 0 6943987 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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 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 THEIR EXEMPT PURPOSE. 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 IN INCOME TAX EXPENSE, IF SUCH INTEREST AND PENALTIES ARE INCURRED. X X X X 0 1 0 0 0 0 0 0 0 JIM MCCORKELL 169201 0 50000 0 17058 0 9430 0 21783 0 267472 0 0 0 TRACI KIRTLEY 85624 0 13283 0 9859 0 6536 0 5735 0 121037 0 0 0 PART I, LINE 4B THE ORGANIZATION HAS A NON-QUALIFIED 457(F) DEFERRED COMPENSATION ARRANGEMENT WITH CEO, JIM MCCORKELL. MR. MCCORKELL HAS NO INTEREST IN OR RIGHT TO CONTRIBUTIONS UNDER THE PLAN UNTIL HE IS VESTED. ONCE VESTED, ALL DISTRIBUTIONS SHALL BE MADE IN CASH. THE ORGANIZATION CONTRIBUTED $15,000 TO THE PLAN FOR FISCAL YEAR ENDED AUGUST 31, 2013. X 8 54214 SELLING PRICE X EVENT COSTS 1 37915 ACTUAL COST X MISCELLANEOUS 144 33781 COMPARABLE PURCHASE PRICE 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WERE AMENDED AUGUST 22, 2013 TO CHANGE THE TERM LENGTH AND EFFECTIVE DATES OF DIRECTORS. ALSO, THE PRESIDENT AND TREASURER PARAGRAPHS REGARDING ROLES AND RESPONSIBILITIES WERE REMOVED. 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 OPERATIONS 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 EMPLOYEES ARE REQUIRED TO FILL OUT AN ANNUAL CONFLICT OF INTEREST FORM. 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 CHIEF OPERATING OFFICER AND CHIEF EXECUTIVE OFFICER 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 CHIEF EXECUTIVE OFFICER (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 WAS HIRED TO DETERMINE THE MARKET RATE FOR THE CEO'S COMPENSATION. IN 2010, A COMPENSATION COMMITTEE REVIEWED 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 IS AVAILABLE ON COLLEGE POSSIBLE'S WEBSITE. ALL OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST.