2023-11-06T17:23:52-06:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 8390 EAST CRESCENT PARKWAY SUITE 300 GREENWOOD VILLAGE CO 80111 990 2022-07-01 410693856 DUNWOODY COLLEGE OF TECHNOLOGY DUNW 6123745800 818 DUNWOODY BOULEVARD MINNEAPOLIS MN 55403 TAMMY MCGEE CFO 6123745800 2023-11-03 1 TAMMY MCGEE XXX-XX-XXXX 0 SARAH HINTZ P00492291 3037795710 2023-11-03 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z TAMMY MCGEE 818 DUNWOODY BOULEVARD MINNEAPOLIS MN 55403 93799313 0 X WWW.DUNWOODY.EDU X 1914 MN DUNWOODY OFFERS ONE, TWO, AND FOUR YEAR DEGREES THAT LEAD TO IMMEDIATE JOBS AND GREAT CAREERS. 29 28 372 578 0 0 21510459 34333168 31167263 31566916 858919 2286395 -4872 -40048 53531769 68146431 5074803 3664979 0 0 19590547 20918607 85431 62151 1947883 13074312 14945317 37825093 39591054 15706676 28555377 75471326 108600351 7714681 10049011 67756645 98551340 X SEE SCHEDULE ODUNWOODY COLLEGE OF TECHNOLOGY CHANGES LIVES BY BUILDING OPPORTUNITIES FOR GRADUATES TO HAVE SUCCESSFUL CAREERS, TO DEVELOP INTO LEADERS AND ENTREPRENEURS, AND TO ENGAGE IN "THE BETTER PERFORMANCE OF LIFE'S DUTIES." QUOTE IS FROM THE LAST WILL AND TESTAMENT OF WILLIAM HOOD DUNWOODY. 0 0 29395384 3664979 31566916 SEE SCHEDULE OFOUNDED IN 1914, DUNWOODY COLLEGE OF TECHNOLOGY IS THE ONLY PRIVATE, NOT-FOR-PROFIT TECHNICAL COLLEGE IN THE UPPER MIDWEST. HAVING PROVIDED HANDS-ON, APPLIED TECHNICAL EDUCATION TO MORE THAN 250,000 INDIVIDUALS, DUNWOODY IS THE COLLEGE FOR EXPERIMENTERS AND MAKERS, A PLACE WHERE THE CURIOUS AND THE CONFIDENT LEARN BY DOING. LOCATED IN MINNEAPOLIS, DUNWOODY OFFERS A UNIQUE CAMPUS EXPERIENCE IN DEDICATED LABS, STUDIOS, AND SHOPS THAT TREATS STUDENTS LIKE FUTURE PROFESSIONALS FROM DAY ONE. DUNWOODY CHALLENGES STUDENTS TO COME DETERMINED AND GRADUATE DESTINED.DUNWOODY IS ACCREDITED BY THE HIGHER LEARNING COMMISSION, AN INSTITUTIONAL ACCREDITATION AGENCY RECOGNIZED BY THE U.S. DEPARTMENT OF EDUCATION. THE COMMISSION'S WEB ADDRESS AND PHONE NUMBER ARE : WWW.HLCCOMMISSION.ORG AND 312-263-0456.DUNWOODY IS COMMITTED TO PREPARING STUDENTS FOR GREAT CAREERS IN HIGH-DEMAND, STEM-RELATED FIELDS. SINCE ITS FOUNDING 109 YEARS AGO, DUNWOODY'S GRADUATES HAVE GONE ON TO REWARDING CAREERS AS OUTSTANDING TECHNICIANS, SUCCESSFUL ENTREPRENEURS, AND INDUSTRY LEADERS.DUNWOODY COLLEGE TEACHES PROBLEM SOLVING AND CRITICAL THINKING ALONG WITH PRACTICAL, REAL-WORLD SKILLS THAT ARE SOUGHT AFTER BY BUSINESS AND INDUSTRY.LOCATED ON THE WESTERN EDGE OF DOWNTOWN MINNEAPOLIS, DUNWOODY OFFERS MORE THAN 40 CERTIFICATE, ASSOCIATE'S DEGREE AND BACHELOR'S DEGREE PROGRAMS IN THE AREAS OF AUTOMOTIVE, BUSINESS MANAGEMENT, COMPUTER TECHNOLOGY, CONSTRUCTION SCIENCES & BUILDING TECHNOLOGY, ARCHITECTURE, DESIGN, ENGINEERING, RADIOLOGIC TECHNOLOGY, AND ROBOTICS & MANUFACTURING.INSTRUCTION AT DUNWOODY IS STRUCTURED ON A 16-WEEK SEMESTER. AN ACADEMIC YEAR INCLUDES TWO 16-WEEK SEMESTERS WITH A NINE-WEEK SUMMER SESSION. PROGRAMS OF INSTRUCTION MAY LEAD TO A CERTIFICATE, ASSOCIATE OF APPLIED SCIENCE (A.A.S.) DEGREE, A BACHELOR OF SCIENCE (B.S.) DEGREE, OR A BACHEOR OF ARCHITECTURE (B.ARCH.) DEGREE. IT IS DUNWOODY'S GOAL THAT GRADUATING STUDENTS WILL BECOME RESPONSIBLE, CONTRIBUTING CITIZENS AS WELL AS ABLE TECHNICIANS AND LEADERS IN THEIR PROFESSIONS. DUNWOODY ALSO OFFERS TRAINING OPPORTUNITIES TO BOTH INDIVIDUALS AND COMPANIES THROUGH WORKFORCE TRAINING & CONTINUING EDUCATION.AS OF FALL SEMESTER 2022, DUNWOODY HAD AN ENROLLMENT OF 1,359 STUDENTS. ALSO IN FALL 2022, THE COLLEGE EXPANDED ITS ONLINE OFFERINGS TO INCLUDE ELECTRICAL CONSTRUCTION DESIGN & MANAGEMENT, CLOUD ENGINEERING TECHNOLOGY, AND CYBERSECURITY. IN ADDITION, THE COLLEGE ALSO ADDED A BACHELOR OF SCIENCE IN COMPUTER ENGINEERING TO IT'S SCHOOL OF ENGINEERING.FOR THE 2022-2023 ACADEMIC YEAR, DUNWOODY CAREER SERVICES REPORTS A PLACEMENT RATE OF 95 PERCENT. 29395384 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 2048 0 1 372 1 0 0 0 0 0 1 1 0 0 0 1 0 0 0 X 29 28 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 MN X JEFF WILHELMI 6126745800 818 DUNWOODY BLVD MINNEAPOLIS MN 55403 RICHARD WAGNER PRESIDENT 40.00 X X 340896 0 111962 TAMMY HUDDLE-MCGEE VP OF ADMIN SVCS & CFO 40.00 X 214586 0 19453 SCOTT STALLMAN PROVOST 40.00 X 187120 0 30474 BRIAN NELSON VP OF INST ADVANCEMENT 40.00 X 184144 0 38366 CINDY OLSON VP OF ENROLLMENT MGMT 40.00 X 160689 0 29284 PATRICIA EDMAN VP OF HUMAN RESOURCES 40.00 X 158510 0 19282 JULIE ELIZABETH MCFADDEN DIRECTOR, COMPUTER TECH PROGRAMS 40.00 X 141809 0 4322 EVERETTE DAIGLE ACADEMIC DEAN 40.00 X 141118 0 4230 COLLEEN J NORTON SENIOR DIRECTOR OF LEADERSHIP GIVING 40.00 X 137509 0 18263 WILLIAM BRUCE HUDSON ACADEMIC DEAN 40.00 X 134341 0 37873 JEFF ALAN WILHELMI CONTROLLER 40.00 X 126697 0 3851 NANCY M DAHL BOARD CHAIR 1.00 X X 0 0 0 KIMBERLY A RANDOLPH VICE CHAIR 1.00 X X 0 0 0 THEODORE J CHRISTIANSON TREASURER 1.00 X X 0 0 0 CINDY W ROBIN SECRETARY 1.00 X X 0 0 0 BERNARD P ALDRICH TRUSTEE 1.00 X 0 0 0 ROBERT BODOR TRUSTEE 1.00 X 0 0 0 HUTCHINS B COBURN TRUSTEE 1.00 X 0 0 0 JAMES D ENGELSMA TRUSTEE 1.00 X 0 0 0 CLAIRE M FERRARA TRUSTEE 1.00 X 0 0 0 LAURA K GRAF TRUSTEE 1.00 X 0 0 0 ANDREW R HECKER TRUSTEE 1.00 X 0 0 0 VICTORIA M HOLT TRUSTEE (THRU 10/19/22) 1.00 X 0 0 0 KAREN A ISAACSON TRUSTEE 1.00 X 0 0 0 ARTHUR W JOHNSON TRUSTEE 1.00 X 0 0 0 THOMAS M KIEFFER TRUSTEE 1.00 X 0 0 0 VELMA J KORBEL TRUSTEE 1.00 X 0 0 0 DAVID M LYMAN TRUSTEE 1.00 X 0 0 0 WILLIAM J MATEIKIS TRUSTEE 1.00 X 0 0 0 BONNIE SPEER MCGRATH TRUSTEE 1.00 X 0 0 0 DALE A NORDQUIST TRUSTEE 1.00 X 0 0 0 JULIE A OWEN TRUSTEE 1.00 X 0 0 0 JON L REISSNER TRUSTEE 1.00 X 0 0 0 JEFFREY S SCHIPPER TRUSTEE 1.00 X 0 0 0 HILLERY SHAY TRUSTEE 1.00 X 0 0 0 MARK G SHERRY TRUSTEE 1.00 X 0 0 0 STEVEN A SONNENBERG TRUSTEE 1.00 X 0 0 0 GREGG E STEDRONSKY TRUSTEE 1.00 X 0 0 0 GREGORY P THEIS TRUSTEE (THRU 12/31/22) 1.00 X 0 0 0 MAUREEN A THOLEN TRUSTEE 1.00 X 0 0 0 1927419 0 317360 38 0 1 0 PERISCOPE 921 WASHINGTON AVE SOUTH MINNEAPOLIS MN 55415 MARKETING/ADVERTISING 1026140 PRIME GENERAL CONTRACTORS LLC 1710 ALEXANDER ROAD EAGAN MN 55121 GENERAL CONTRACTOR/CONSTRUCTION 817338 NORTHLAND MECHANICAL 9001 SCIENCE CENTER DRIVE NEW HOPE MN 55428 COMMERCIAL MECHANICAL CONTRACTOR 497663 ISPACE ENVIRONMENTS 3701 WAYZATA BLVD MINNEAPOLIS MN 55416 TECHNOLOGY SOLUTIONS 460106 UNIVERSAL PROTECTION SERVICE 1395 UNIVERSITY BLVD JUPITER FL 33458 SECURITY 400580 20 113480 456847 1512446 32250395 1641813 34333168 TUITION & RELATED INC. 611600 31492587 31492587 OTHER PROGRAM REVENUE 611710 74329 74329 31566916 1970872 1970872 206273 215725 -9452 -9452 -9452 25695124 25368768 10833 326356 -10833 315523 315523 26960 113480 57556 -30596 -30596 68146431 31566916 0 2246347 3664979 3664979 1436758 339787 697750 399221 15962373 13097318 1988635 876420 412371 412371 1870519 1340711 435278 94530 1236586 989003 158139 89444 164070 36357 127688 25 89819 89819 6000 6000 62151 62151 288581 288581 1229207 293299 935908 1545790 1483928 11874 49988 1748012 1601061 146951 1861922 338311 1468823 54788 3544171 3282481 233137 28553 214050 165787 33055 15208 632651 257127 368857 6667 151506 151506 2485005 2286205 173950 24850 BAD DEBT EXPENSE 462637 462637 MEALS & ENTERTAINMENT 303725 159531 45107 99087 218171 59499 158672 39591054 29395384 8247787 1947883 13844617 10937681 10013674 10553516 301020 235038 310718 532206 476295 651856 71708639 42519722 19714416 29188917 21500311 46872085 9310275 9629052 75471326 108600351 3386516 4313911 345573 359137 3413216 3201065 569376 2174898 7714681 10049011 X 34256160 38322189 33500485 60229151 67756645 98551340 75471326 108600351 X 28555377 2710043 -470725 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 0 1 6000 0 0 6000 0 PART II-B, LINE 1: THE COLLEGE PAID A TOTAL OF $6,000 IN RETAINER FEES TO A CONSULTING FIRM FOR LOBBYING ACTIVITY DURING THE YEAR. 34574737 14102498 3154439 799840 51031834 29277919 10114443 -4016108 801517 34574737 24533032 360684 4930188 545985 29277919 23311212 1328191 482261 588632 24533032 22614773 533451 846745 683757 23311212 0.19411 0.63197 0.17392 0 0 1198504 1198504 43259166 24417526 18841640 24171199 18102196 6069003 3079770 3079770 29188917 BENEFICIAL INTEREST IN PERPETUAL TRUST 8703411 F SPLIT-INTEREST AGREEMENTS 925641 F 9629052 ANNUITY OBLIGATIONS 55327 ENVIRONMENTAL REMEDIATION 380160 CAPITAL LEASES 1739411 2174898 X 68925787 2710043 2209484 -470725 4448802 64476985 288581 3380865 3669446 68146431 38131092 2209484 2209484 35921608 288581 3380865 3669446 39591054 PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO PROVIDE SCHOLARSHIPS AND TO FUND COLLEGE OPERATIONS. PART X, LINE 2: THE COLLEGE FOLLOWS THE GUIDANCE IN THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE COLLEGE FOLLOWS THE ACCOUNTING STANDARD FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THE COLLEGE HAS NO CURRENT OBLIGATION FOR UNRELATED BUSINESS INCOME TAX. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE IN BENEFICIAL TRUST -470,725. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 3,664,979. LOSS ON DISPOSAL OF FIXED ASSETS -10,833. SPECIAL EVENTS EXPENSES -57,556. RENTAL INCOME EXPENSES -215,725. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 3,664,979. SPECIAL EVENTS EXPENSES -57,556. LOSS OF DISPOSAL OF FIXED ASSETS -10,833. RENTAL INCOME EXPENSES -215,725. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 WRITTEN MATERIALS RELATED TO THE COLLEGE'S POLICIES ARE GIVEN TO STUDENTS AT ORIENTATION. DUNWOODY WILL BE UPDATING ITS HOMEPAGE IN 2023 TO MAKE ITS NONDISCRIMINATORY POLICY ACCESSIBLE TO THE COMMUNITY IT SERVES. SCHEDULE E, PART I, LINE 6 THE COLLEGE RECEIVES PELL, SEOG, FEDERAL WORK STUDY, VETERANS BENEFITS, AND VARIOUS GOVERNMENT-BACKED LOANS AND RELATED STATE FUNDS. X X X X X X X 1 BENTZ WHALEY FLESSNER 7900 XERCES AVE S SUITE 980 MINNEAPOLIS MN 55431 CAMPAIGN FUNDRAISING CONSULTANT 0 29105852 25408 29080444 KAUL CONSULTING LLC 3466 ST CROIX TRAIL S AFTON MN 55001 GRANT WRITING 0 1392050 32450 1359600 QCSS INC 717 W ST GERMAIN STREET ST CLOUD MN 56301 PHONE SOLICITATION 0 4675 4293 382 30502577 62151 30440426 AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY KATE DUNWOODY LUNCHEON 83570 71370 12200 6695 16953 6970 GOLF FUNDRAISER 56870 42110 14760 1316 16889 7791 942 140440 113480 26960 1316 23584 24744 7912 57556 -30596 1 SCHOLARSHIP AWARDS 637 3664979 N/A N/A PART I, LINE 2: ENDOWED AND ANNUAL SCHOLARSHIPS ARE AWARDED BASED ON CERTAIN CRITERIA SET BY THE INSTITUTION (DUNWOODY) AND DONORS. STUDENTS APPLY FOR SCHOLARSHIPS AUTOMATICALLY BY COMPLETING THEIR FAFSA STARTING THE SPRING SEMESTER OF THE PREVIOUS SCHOOL YEAR. ALL SCHOLARSHIP CRITERIA IS PROVIDED TO FINANCIAL AID AND AWARDS ARE MADE BASED ON FINANCIAL NEED AND DATE SUBMITTED. STUDENTS ARE NOTIFIED BY THE FINANCIAL AID OFFICE OF THEIR AWARDS WHICH THEN BECOME PART OF THEIR FINANCIAL AID PACKAGE. SCHOLARSHIPS ARE DISBURSED TO THE STUDENT ACCOUNT AS A CREDIT ON A SEMIANNUAL BASIS WHICH REDUCES THEIR TUITION. SOMETIMES STUDENTS ARE REQUIRED TO WRITE THANK YOU NOTES TO DONORS OF SCHOLARSHIPS OR ATTEND DONOR EVENTS SHOWING THEIR APPRECIATION. IF A THANK YOU NOTE IS REQUIRED AND NOT WRITTEN, THE STUDENT DOES NOT RECEIVE THE SCHOLARSHIP. SCHOLARSHIPS ARE MONITORED BY THE FINANCIAL AID OFFICE. X X 1 1 X X X 0 1 0 0 0 1 0 0 0 RICHARD WAGNER PRESIDENT 280540 0 60356 0 0 0 79472 0 32490 0 452858 0 0 0 TAMMY HUDDLE-MCGEE VP OF ADMIN SVCS & CFO 194827 0 19759 0 0 0 5990 0 13463 0 234039 0 0 0 SCOTT STALLMAN PROVOST 169520 0 17600 0 0 0 5368 0 25106 0 217594 0 0 0 BRIAN NELSON VP OF INST ADVANCEMENT 165207 0 18937 0 0 0 5403 0 32963 0 222510 0 0 0 CINDY OLSON VP OF ENROLLMENT MGMT 145674 0 15015 0 0 0 4551 0 24733 0 189973 0 0 0 PATRICIA EDMAN VP OF HUMAN RESOURCES 143657 0 14853 0 0 0 4502 0 14780 0 177792 0 0 0 COLLEEN J NORTON SENIOR DIRECTOR OF LEADERSHIP GIVING 137509 0 0 0 0 0 4286 0 13977 0 155772 0 0 0 WILLIAM BRUCE HUDSON ACADEMIC DEAN 134341 0 0 0 0 0 4568 0 33305 0 172214 0 0 0 PART I, LINE 1A FIRST-CLASS & COMPANION TRAVEL WERE FOR A BONA FIDE BUSINESS PURPOSE AND BENEFITTED THE COLLEGE. THE PRESIDENT'S WIFE, VALERIE, TRAVELED TO ARIZONA AND FLORIDA TO ATTEND THE ANNUAL ALUMNI EVENTS WHICH BENEFITTED THE COLLEGE. THESE BENEFITS WERE EXCLUDED FROM THE PRESIDENT'S TAXABLE COMPENSATION. PART I, LINE 4B $71,010 WAS VESTED IN RICHARD WAGNER'S 457(F) PLAN AND WAS NOT DISTRIBUTED IN 2022. PART I, LINE 6 THE BOARD HAS ELECTED TO PROVIDE A SHORT TERM INCENTIVE PLAN AS PART OF THE CABINET'S COMPENSATION AND BENEFITS PACKAGE. ITS PURPOSE IS TO CREATE A CLEAR LINE OF SIGHT BETWEEN INDIVIDUAL AND ORGANIZATIONAL GOALS AND THE ATTAINMENT OF AGREED UPON FINANCIAL METRICS. X 3 21690 FAIR MARKET VALUE X 3 1322398 STOCK MARKET QUOTES X MECHANICAL PARTS & SUPPLIES 6 259701 FAIR MARKET VALUE X VARIOUS EQUIPMENT 6 38024 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): COLUMN (B) REPORTS THE NUMBER OF ITEMS DONATED. FORM 990, PART VI, SECTION A, LINE 1A THERE SHALL BE AN EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES OF THE CORPORATION CONSISTING OF NO FEWER THAN FIVE (5) MEMBERS, INCLUDING THE CHAIR OF THE BOARD, PRESIDENT, AND SUCH OTHER PERSONS ELECTED BY THE BOARD OF TRUSTEES BY RESOLUTION. ALL OF THE MEMBERS OF THE EXECUTIVE COMMITTEE SHALL BE TRUSTEES. THE EXECUTIVE COMMITTEE SHALL ACT ONLY DURING INTERVALS BETWEEN MEETINGS OF THE BOARD OF TRUSTEES AND SHALL AT ALL TIMES BE SUBJECT TO THE CONTROL AND DIRECTION OF THE BOARD OF TRUSTEES. DURING SUCH INTERVALS AND SUBJECT TO SUCH CONTROL AND DIRECTION, THE EXECUTIVE COMMITTEE SHALL HAVE AND MAY EXERCISE ALL OF THE AUTHORITY AND POWERS OF THE BOARD OF TRUSTEES IN THE MANAGEMENT OF THE AFFAIRS OF THE CORPORATION, SUBJECT TO SUCH LIMITATIONS AS THE BOARD OF TRUSTEES MAY IMPOSE. THE EXECUTIVE COMMITTEE SHALL KEEP REGULAR MINUTES OF ITS PROCEEDINGS AND REPORT THE SAME TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B INFORMATION FOR THE FORM 990 IS COMPILED BY COLLEGE PERSONNEL INCLUDING THE EXECUTIVE DIRECTOR OF MARKETING, DIRECTOR OF FINANCIAL AID, THE CHIEF OF STAFF AND THE VICE PRESIDENT OF HUMAN RESOURCES AMONG OTHERS AND SUBMITTED TO THE COLLEGE AUDIT FIRM, WHO PREPARES A DRAFT OF THE FORM. THIS DRAFT IS REVIEWED BY THE COLLEGE'S CONTROLLER, VP OF ADMINISTRATIVE SERVICES & CFO AND THE VP OF ADVANCEMENT. ONCE A FINAL DRAFT OF THE FORM (WITH SCHEDULE B INFORMATION REDACTED) IS READY, EACH MEMBER OF THE AUDIT COMMITTEE IS SENT A COPY AND WILL BE OPEN FOR REVIEW BY THE FULL BOARD FOR AFFIRMATION OF THE AUDIT COMMITTEE'S APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C THE COLLEGE'S CONFLICT OF INTEREST POLICY APPLIES TO ALL OFFICERS, TRUSTEES AND COMMITTEE MEMBERS. IF AN INDIVIDUAL HAS A POTENTIAL OR ACTUAL CONFLICT OF INTEREST, THEY ARE REQUIRED TO DISCLOSE THE MATERIAL FACTS TO THE BOARD OR COMMITTEE BEFORE THE TRANSACTION IN QUESTION IS CONSIDERED. AFTER PRESENTING THE MATERIAL FACTS, THE INTERESTED PERSON IS REQUIRED TO LEAVE THE ROOM FOR THE DISCUSSION AND VOTE ON THE MATTER. TO INVESTIGATE ALTERNATIVES, THE BOARD OR COMMITTEE MAY REQUEST COMPARABILITY DATA AND/OR APPOINT A DISINTERESTED PERSON. IF A MORE ADVANTAGEOUS TRANSACTION IS NOT REASONABLY ATTAINABLE, THE DISINTERESTED BOARD OR COMMITTEE MEMBERS DETERMINE, BY MAJORITY VOTE, WHETHER TO ENTER INTO THE TRANSACTION. ALL RELEVANT INFORMATION IS RECORDED IN THE MINUTES OF THE MEETING. EACH OFFICER, TRUSTEE AND COMMITTEE IS REQUIRED TO ANNUALLY REVIEW THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15A WHEN DETERMINING THE COMPENSATION OF THE PRESIDENT, THE CHAIR OF THE BOARD AND THE EXECUTIVE COMMITTEE USE SALARY BENCHMARKING DATA TO RECOMMEND THE PRESIDENT'S COMPENSATION. AN INDEPENDENT OUTSIDE FIRM PREPARED BENCHMARK DATA FROM MULTIPLE SOURCES. THE EXECUTIVE COMMITTEE REVIEWED THE DATA AND THE SALARY DETERMINATION WAS COMPLETED IN SEPTEMBER 2022. WHEN DETERMINING THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES, THE H.R. VICE PRESIDENT PROVIDES SALARY BENCHMARKING DATA TO THE PRESIDENT WHO DETERMINES THEIR COMPENSATION. SALARY INCREASE GUIDELINES ARE PROVIDED BY THE FINANCE DEPARTMENT BASED ON BUDGET CONSTRAINTS. THIS PROCESS WAS LAST UNDERTAKEN IN SEPTEMBER 2022. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL TRUST -470,725. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. 712 ONTARIO LLC 818 DUNWOODY BOULEVARD MINNEAPOLIS MN 55403 883354717 712 ONTARIO BUILDING PROPERTY MANAGEMENT MN 133820 556240 DUNWOODY COLLEGE OF TECHNOLOGY KATE L DUNWOODY TRUST PO BOX 64713 ST PAUL MN 55164 416014903 PERPETUAL TRUST MN 501(C)(3) PF N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 KATE L DUNWOODY TRUST C 456847 CASH TRANSFERRED