Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: QUARTERLY ASSESSMENTS

  total $2,537,460 · related or exempt $2,537,460

• 2b · Program service revenue: SERVICE FEES

  total $284,407 · related or exempt $284,407

• 2c · Program service revenue: COOPERATIVE ADMISSIONS

  total $67,702 · related or exempt $67,702

• 3 · Investment income

  total $73,628 · excluded $73,628

• 11a · Other revenue: MISCELLANEOUS

  total $1,361 · related or exempt $1,361

• 11e · Other revenue, total

  $1,361

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $587,803 · program services $470,242 · management and general $117,561

• 7 · Other salaries and wages

  total $962,279 · program services $769,823 · management and general $192,456

• 8 · Pension plan contributions

  total $122,980 · program services $98,384 · management and general $24,596

• 9 · Other employee benefits

  total $179,890 · program services $143,912 · management and general $35,978

• 10 · Payroll taxes

  total $96,876 · program services $77,501 · management and general $19,375

• 11b · Fees: legal

  total $19,178 · program services $1,262 · management and general $17,916

• 11c · Fees: accounting

  total $13,423 · program services $13,423

• 11d · Fees: lobbying

  total $166,000 · program services $166,000

• 11f · Fees: investment management

  total $2,095 · program services $1,676 · management and general $419

• 11g · Fees: other

  total $361,598 · program services $349,753 · management and general $11,845

• 12 · Advertising and promotion

  total $60,652 · program services $60,652

• 13 · Office expenses

  total $36,905 · program services $29,524 · management and general $7,381

• 14 · Information technology

  total $63,592 · program services $53,579 · management and general $10,013

• 16 · Occupancy

  total $108,006 · program services $86,405 · management and general $21,601

• 17 · Travel

  total $19,462 · program services $19,462

• 19 · Conferences, conventions and meetings

  total $40,078 · program services $38,683 · management and general $1,395

• 22 · Depreciation, depletion and amortization

  total $11,537 · program services $9,230 · management and general $2,307

• 23 · Insurance

  total $12,754 · program services $10,203 · management and general $2,551

• 24a · Other expenses: MARKETING AND COMMUNICA

  total $72,092 · program services $72,092

• 24b · Other expenses: ADMISSIONS PUBLICATIONS

  total $67,620 · program services $67,620

• 24c · Other expenses: DUES AND SUBSCRIPTIONS

  total $17,263 · program services $17,263

• 24d · Other expenses: PROFESSIONAL DEVELOPMEN

  total $1,718 · program services $1,374 · management and general $344

• 24e · All other expenses

  total $2,099 · program services $1,679 · management and general $420

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,544,386 · end of year $1,369,245

• 2 · Savings and temporary cash investments

  beginning of year $2,046,495 · end of year $2,108,293

• 4 · Accounts receivable

  beginning of year $25,867 · end of year $42,926

• 9 · Prepaid expenses and deferred charges

  beginning of year $41,083 · end of year $43,116

• 10a · Land, buildings and equipment: cost or other basis

  $198,444

• 10b · Land, buildings and equipment: accumulated depreciation

  $171,524

• 10c · Land, buildings and equipment, net

  beginning of year $38,457 · end of year $26,920

• 11 · Investments: publicly traded securities

  beginning of year $217,875 · end of year $253,474

• 15 · Other assets

  beginning of year $0 · end of year $179,685

• 17 · Accounts payable and accrued expenses

  beginning of year $45,141 · end of year $46,349

• 19 · Deferred revenue

  beginning of year $66,927 · end of year $51,411

• 21 · Escrow or custodial account liability

  beginning of year $208,293 · end of year $145,665

• 25 · Other liabilities

  beginning of year $217,875 · end of year $458,633

• 27 · Net assets without donor restrictions

  beginning of year $3,375,927 · end of year $3,321,601

The filer's explanations (Part III)

PART I, LINE 3

AN INDEPENDENT COMPENSATION CONSULTANT WAS ENGAGED DURING THE TAX YEAR REGARDING THE PRESIDENT'S NEXT CONTRACT, WHICH DOES NOT BEGIN UNTIL THE FOLLOWING TAX YEAR.

SCHEDULE J, PART II:

THE COMPENSATION LISTED FOR THE PRESIDENT IS DETERMINED BY, AND ENTIRELY PAID FOR, BY THE MINNESOTA PRIVATE COLLEGE COUNCIL, INC. THE PRESIDENT PROVIDES SERVICES TO BOTH THE MINNESOTA PRIVATE COLLEGE COUNCIL AND THE MINNESOTA PRIVATE COLLEGE FUND, A RELATED NONPROFIT ASSOCIATION. THE COUNCIL DONATES THESE SERVICES IN THEIR ENTIRETY TO THE MINNESOTA PRIVATE COLLEGE FUND; NO MINNESOTA PRIVATE COLLEGE FUND RESOURCES OR CONTRIBUTIONS RAISED ARE USED TO PAY FOR THE PRESIDENT'S COMPENSATION FOR THE SERVICES RENDERED.