2012-03-08T16:19:48-06:00 2011-06-30 EIDE BAILLY LLP 200 EAST 10TH STREET PO BOX 5125 SIOUX FALLS SD 571175125 990 2010-07-01 460283336 MOUNT MARTY COLLEGE MOUN 6056681514 1105 WEST 8TH STREET YANKTON SD 57078 DR JOSEPH BENOIT 6056681514 2012-03-01 1 LAURIE HANSON 6053391999 2012-03-01 2010 2016-02-24 21:20:13Z DR JOSEPH BENOIT 1105 WEST 8TH STREET YANKTON SD 57078 18806641 0 X WWW.MTMC.EDU X 1936 SD THE INSTITUTION IS A PRIVATE, CATHOLIC COLLEGE OF HIGHER LEARNING. 25 25 578 60 0 0 2207658 2868580 12403619 13029400 -1278199 594892 992214 1073556 14325292 17566428 4034523 4470218 0 0 7184867 7233297 0 0 0 4397576 4311316 15616966 16014831 -1291674 1551597 29706161 33509321 5320674 5540887 24385487 27968434 MOUNT MARTY COLLEGE, AN ACADEMIC COMMUNITY IN THE CATHOLIC BENEDICTINE LIBERAL ARTS TRADITION, PREPARES STUDENTS FOR A CONTEMPORARY WORLD OF WORK, SERVICE TO THE HUMAN COMMUNITY, AND PERSONAL GROWTH. THE INSTITUTION IS A PRIVATE, CATHOLIC COLLEGE OF HIGHER LEARNING. 0 0 15259177 4313299 14088700 PROVIDING EDUCATIONAL SERVICES TO APPROXIMATELY 1240 STUDENTS. 15259177 1 1 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 1 49 0 1 578 1 0 0 0 0 0 1 1 0 0 X 25 25 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X MRS DAISY HALVORSON 6056681566 1105 WEST 8TH STREET YANKTON SD 57078 JEAN REED 2.50 X X 0 0 0 JEFF WOLFGRAM 2.50 X X 0 0 0 S PENNY BINGHAM 2.50 X X 0 0 0 MICHAEL HEALY 2.50 X X 0 0 0 ROBERT ZYLSTRA 1.30 X 0 0 0 DR WILLIAM CAHOY 1.30 X 0 0 0 S CLARICE KORGER 1.30 X 0 0 0 MARLENE STETZ 1.30 X 0 0 0 GERRY LIKNESS 1.30 X 0 0 0 S NORMA NORTON 1.30 X 0 0 0 MARLENE RANCE 1.30 X 0 0 0 KATHY NORDSTROM 1.30 X 0 0 0 S MARIETTA KERKVLIET 1.30 X 0 0 0 S JENNIFER KEHRWALD 1.30 X 0 0 0 S ANGELINE KEATING 1.30 X 0 0 0 KITTY HIGGINS 1.30 X 0 0 0 ARLENE HEINE 1.30 X 0 0 0 TOM HARMON 1.30 X 0 0 0 RUDY GERSTNER 1.30 X 0 0 0 S RAMONA FALLON 1.30 X 0 0 0 STEVE SLOWEY 1.30 X 0 0 0 JP DUNIPHAN 1.30 X 0 0 0 PEGGY FRANK 1.30 X 0 0 0 S JEANNE WEBER 1.30 X 0 0 0 CHAD EKROTH 1.30 X 0 0 0 DR CARROL KRAUSE 60.00 X 81000 0 4050 DAISY HALVORSON 40.00 X 85297 0 4265 ALFRED LUPIEN 40.00 X 128468 0 6423 LARRY DAHLEN 40.00 X 124104 0 11341 JACQUELINE KELLEY 40.00 X 79943 0 7803 JAMES T BARRY 0.00 X 121085 0 21112 539954 0 47191 3 1 0 0 ARAMARK 1101 MARKET STREET PHILADELPHIA PA 19107 FOOD SERVICE 699071 DATATEL INCORPORATED 4375 FAIR LAKES COURT FAIRFAX VA 22033 IT SOFTWARE/MAINTENANCE 118868 ARTHUR J GALLAGHER RISK MANAGEMENT 4280 SERGEANT RD STE 200 SIOUX CITY IA 51106 CONSULTING 105402 3 435686 2432894 46240 2868580 TUITION, FEES, ETC. 611710 13029400 13029400 13029400 474556 474556 14256 14256 14256 14256 120336 120336 120336 120336 2299513 1240213 1059300 1059300 17566428 14088700 0 609148 4470218 4470218 174611 174611 5967386 5907712 59674 217512 206636 10876 405762 393589 12173 468026 421223 46803 92332 42514 49818 47707 12632 35075 47900 47900 74141 74141 621379 621379 179882 179882 413761 310321 103440 114006 114006 49121 49121 1052736 789552 263184 INSTITUTIONAL SUPPORT 822663 822663 EQUIP. RENTAL & MAINT. 436858 436858 STUDENT LIFE 158530 158530 OTHER EXPENSES 126650 126650 PRINTING AND PUBLISHING 73650 73650 16014831 15259177 755654 0 3543827 4909437 658282 1065165 1562819 1558201 53646 62698 414175 347384 24131766 12844036 11935741 11287730 11537671 14278706 29706161 33509321 1132322 1580388 785904 791087 1374417 1198401 30000 30000 1998031 1941011 5320674 5540887 X 11635559 13784594 236697 1312943 12513231 12870897 24385487 27968434 29706161 33509321 X 1551597 2031349 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12931375 357663 2531443 400000 96799 15323682 11920576 242705 1425501 550000 107409 12931375 14496722 186012 -2742976 43764 62944 11920576 0.16000 0.84000 0 0 936522 936522 17662355 9266975 8395380 4117257 2861088 1256169 1415632 715973 699659 11287730 EQUITIES 8356403 F BONDS 4405120 F GOVERNMENT SECURITIES 1517183 F 14278706 REFUNDABLE US GOVERNMENT STUDENT LOANS 1572319 DEPOSITS PAYABLE 100740 CHARITABLE REMAINDER UNITRUST LIABILITY 217952 CONTRACTS PAYABLE 50000 1941011 17566428 16014831 1551597 2031349 2031349 3582946 16524689 2031349 2031349 14493340 3073088 3073088 17566428 12941743 0 12941743 3073088 3073088 16014831 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE INSTITUTION USES GROWTH FROM THE ENDOWMENT FUNDS ACCORDING TO THE DONORS WISHES. THE AMOUNT OF GROWTH SPENT IS DETERMINED ACCORDING TO THE COLLEGES INVESTMENT POLICY. THE POLICY STATES THAT THE DISTRIBUTIONS MAY BE MADE UP TO 4% OF THE AVERAGE MARKET VALUE OF THE TOTAL ENDOWMENT, CALCULATED OVER 12 ROLLING QUARTERS. CURRENT INTENDED USES ARE FUNDED NAMED SCHOLARSHIPS, CAPITAL EXPENDITURES, ENDOWED-CHAIRS, ENHANCING THE INSTITUTIONS MISSION, AND MAINTAINING INFRASTRUCTURES. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE COLLEGE HAS IMPLEMENTED THE PROVISIONS OF FINANCIAL ACCOUNTING STATNDARD BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION TOPIC (ASC) 740-10. THE COLLEGE UNDERGOES AN ANNUAL ANALYSIS OF ITS VARIOUS TAX POSITIONS, ASSESSING THE LIKLIHOOD OF THOSE POSITIONS BEING UPHELD UPON EXAMINATION WITH RELEVANT TAX AUTHORITIES, AS DEFINED BY ASC 740-10. FOR THE YEARS ENDED JUNE 30, 2011 AND 2010, THE UNRECOGNIZED TAX BENEFIT ACCRUAL WAS ZERO. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND STUDENT FEES (REPORTED @ NET IN AUDITED FINANCIALS) 4,313,301. COST OF GOODS SOLD -1,240,213. PART XIII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND STUDENT AID (REPORTED @ NET IN AUDITED FINANCIALS) 4,313,301. COST OF GOODS SOLD -1,240,213. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 COLLEGE CATALOG, NEWSPAPER, AND BROADCAST MEDIA EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVED AID AND ASSISTANCE FROM GOVERNMENT AGENCIES THROUGH VARIOUS GRANTS AND CONTRACTS. THESE GRANTS AND CONTRACTS ARE USED IN SUPPORT OF DIFFERENT PROGRAMS AT THE COLLEGE, SUCH AS SUPPLEMENTAL EDUCATION OPPORTUNITIES, WORK STUDY GRANTS, AND ADMINISTRATION OF SUCH PROGRAMS. 1 EMPLOYEE TUITION WAIVER 19 110077 BOOK VALUE SCHOLARSHIPS 430 2314839 BOOK VALUE STUDENT FAMILY DISCOUNTS 29 51080 BOOK VALUE RELIGIOUS DISCOUNTS 3 7970 BOOK VALUE TALENT AWARDS 53 71898 BOOK VALUE ATHLETIC GRANTS 269 689206 BOOK VALUE NEED BASED GRANTS 352 793438 BOOK VALUE SPECIAL NEEDS 45 70520 BOOK VALUE ROTC 2 10747 BOOK VALUE FSEOG AND MOUNT MARTY COLLEGE MATCHING AMOUNT 159 189023 BOOK VALUE TEACHER 12 42035 BOOK VALUE SD EQUAL OPPORTUNITY SCHOLARSHIPS 44 54500 BOOK VALUE AMERICA READS 10 6506 BOOK VALUE AMERICA COUNTS 10 7089 BOOK VALUE CATHOLIC LEADERSHIP 54 38145 BOOK VALUE LEAP 8 5630 BOOK VALUE DAKOTA CORPS 1 7514 BOOK VALUE PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE COLLEGE HAS A NUMBER OF FEDERAL AND STATE GRANTS. WITH THE ISSUANCE OF EACH AWARD A TEMPORARILY RESTRICTED ACCOUNT IS CREATED IN THE DATABASE. AWARD LETTERS ARE KEPT IN A SEPARATE FILE WITH THE PRIMARY CONTACT INFORMATION. IF THE GRANTEE DOES NOT HAVE ELIGIBILITY THE GRANT IS NOT AWARDED. IF THE ELIGIBILITY OF THE GRANTEE HAS CHANGED THE INSTITUTION RETURNS THE AWARDED FUNDS. THE GRANTS ARE BASED ON FAMILY INCOME CONTRIBUTIONS, AND/OR ACADEMIC STANDING, AND/OR ATHLETIC ABILITY, AND/OR INDIVIDUAL TALENT. X X X X 1 1 X X X X X X 1 0 0 0 0 0 0 0 0 JAMES T BARRY 121085 0 0 0 0 0 0 0 0 0 121085 0 0 0 PART I, LINE 1A THE COLLEGE PAYS FOR THE PRESIDENT'S SPOUSE TO TRAVEL WITH THE PRESIDENT ON OCCASION. THE COLLEGE PROVIDES GROUNDS KEEPER SERVICES, AND ALSO PAYS FOR THE PRESIDENT'S MEMBERSHIP AT THE LOCAL COUNTRY CLUB. PART I, LINE 4A JAMES T. BARRY RECEIVED A SEVERANCE PAYMENT OF $86,625. X 100 COST, VALUE X CATERING 1 2615 COST, VALUE X GOLF TOURNAMENT PRIZES AND FOOD 40 10737 COST, VALUE X CROWN MOLDING 1 1125 COST, VALUE X JEWELRY, ARTWORK 1 16070 COST, VALUE X BOARD OF DIRECTORS GIFTS IN KIND 2 3082 COST, VALUE X MISCELLANEOUS 16 12511 COST, VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE TRUSTEE COMMITTEE HAS BROAD AUTHORITY TO ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION INCLUDE THE MONASTERY PRIORESS AND THOSE PERSONS SERVING AS MEMBERS OF THE MONASTERY COUNCIL. FORM 990, PART VI, SECTION A, LINE 7A THE PRIORESS OF THE SPONSORING MONASTERY IS ALLOWED TO APPOINT A MINIMUM OF 5 MEMBERS TO THE BOARD AND ALL MEMBERS HAVE FINAL APPROVAL OF ALL TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS HAVE AUTHORITY OVER ACTIONS TO BE TAKEN BY THE COLLEGE AS FOLLOWS: (A) TO APPROVE THE STATEMENTS OF PHILOSOPHY, MISSION AND OBJECTIVES OF THE COLLEGE; (B) TO APPROVE AND ACT UPON THE SALE, LEASE, TRANSFER, EXCHANGE, DISPOSITION, PLEDGE OR ALIENATION OF REAL PROPERTY OR BUILDINGS AND/OR THE ACQUISITION OF DEBT, PURSUANT TO POLICIES ESTABLISHED BY THE MEMBERS; (C) TO APPOINT THE BOARD OF TRUSTEES OF THE COLLEGE AND TO REMOVE A TRUSTEE AT ANY TIME WITH OR WITHOUT CAUSE, AFTER SEEKING GUIDANCE FROM THE BOARD. PENDING A FINAL DECISION OF THE MEMBERS, THE BOARD OF TRUSTEES MAY SUSPEND A TRUSTEE BY A VOTE OF TWO-THIRDS OF THE REMAINING TRUSTEES; (D) TO APPROVE AMENDMENTS TO THE ARTICLES OF INCORPORATION OF THE COLLEGE; (E) TO AMEND THE BYLAWS OF THE COLLEGE; (F) TO OVERSEE THE COLLEGE'S FISCAL POLICIES AND TO ESTABLISH POLICIES GOVERNING THE COLLEGE'S FINANCIAL POSITION; (G) TO RECEIVE THE COLLEGE'S ANNUAL REPORT; (H) TO APPOINT AND REMOVE THE PRESIDENT OF THE COLLEGE, AFTER SEEKING GUIDANCE FROM THE BOARD OF TRUSTEES; (I) TO APPROVE AND/OR ACT UPON THE MERGER, CONSOLIDATION OR DISSOLUTION OF THE COLLEGE; AND (J) TO ADOPT POLICIES TO EFFECTUATE THE AUTHORITIES RESERVED TO THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE REVIEWS THE 990, AND A RECOMMENDATION IS MADE TO THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF TRUSTEES IS RESPONSIBLE FOR MONITORING CONFLICTS AND IMPOSING RESTRICTIONS ON TRUSTEES WHEN VOTING ON ISSUES THAT GIVE RISE TO CONFLICT. ALL TRUSTEES COMPLETE A DISCLOSURE ANNUALLY. DISCLOSURES ARE GIVEN TO ALL TRUSTEES IN THE FORM OF A REPORT. A TRUSTEE SHALL BE CONSIDERED TO HAVE A CONFLICT OF INTEREST IF THE TRUSTEE (1) HAS EXISTING OR POTENTIAL FINANCIAL OR OTHER INTEREST THAT IMPAIR OR APPEAR TO IMPAIR THE TRUSTEE'S INDEPENDENT, UNBIASED JUDGMENT IN THE DISCHARGE OF THE TRUSTEE'S RESPONSIBILITIES TO THE COLLEGE; OR (2) IS AWARE THAT A MEMBER OF THE TRUSTEE'S IMMEDIATE FAMILY HAS FINANCIAL OR OTHER INTEREST THAT WOULD IMPAIR OR APPEAR TO IMPAIR THE TRUSTEE'S INDEPENDENT JUDGMENT IN THE DISCHARGE OF THE TRUSTEE'S RESPONSIBILITIES TO THE COLLEGE. IMMEDIATE FAMILY GENERALLY INCLUDES SPOUSE, PARENT OR STEP-PARENT, CHILD OR STEP-CHILD, SIBLING OR STEP-SIBLING, GRANDPARENT, AND GRANDCHILD. FORM 990, PART VI, SECTION B, LINE 15 PRESIDENT: A SURVEY PROCESS IS UNDERTAKEN BY THE BOARD OF TRUSTEES, USING GUIDESTAR.ORG TO DETERMINE APPROPRIATE LEVELS OF COMPENSATION. A WRITTEN EMPLOYMENT CONTRACT IS PUT INTO PLACE. CFO: AN ANNUAL PERFORMANCE APPRAISAL IS DONE FOR THE CFO, AND A STANDARD PERCENTAGE INCREASE IS GIVEN BASED ON THE DECISION OF THE BOARD OF TRUSTEES. THE PERCENTAGE INCREASE IS THE SAME FOR THE CFO AS IT IS FOR ALL OTHER EMPLOYEES. A 1% COMPENSATION INCREASE WAS ALLOCATED FOR THE YEAR ENDED 6/30/11. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 2,031,349. BENEDICTINE CONVENT OF SACRED HEART DBA SACRED HEART MONASTARY 1005 W 8TH STREET YANKTON SD 570783389 460224541 RELIGIOUS ORDER SD 501(C)(3) LINE 1 0 0 0 1 0 0 0 0 0 1 1 0 1 1 1 1 1 0 1