2024-03-13T12:27:09-05:00 2023-06-30 390859910 BAKER TILLY US LLP 18500 VON KARMAN AVE 10TH FLOOR IRVINE CA 92612 990 2022-07-01 462589747 MINERVA UNIVERSITY MINE 4153252059 14 MINT PLAZA FLOOR 3 SAN FRANCISCO CA 94103 NISHA CHAKRAVARTY COO 4153252059 2024-03-07 1 NISHA CHAKRAVARTY 999009999 0 BRIAN YACKER P00401346 9492222999 2024-03-07 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X MICHAEL MAGEE 14 MINT PLAZA FLOOR 3 SAN FRANCISCO CA 94103 49931397 0 X MINERVA.EDU X 2013 CA STIMULATING MEANINGFUL INNOVATION BY SUPPORTING THE DEVELOPMENT OF, AND ACCESS TO, TRANSFORMATIVE EDUCATIONAL PROGRAMS; BY WORKING TO IDENTIFY AND SUPPORT THE MOST PROMISING POTENTIAL STUDENTS REGARDLESS OF LOCATION OR CIRCUMSTANCES. 12 12 593 12 0 0 29964477 33039844 16674450 16391320 25784 305250 118454 26557 46783165 49762971 7708971 7580858 0 0 15416939 15031352 0 0 173417 8617772 9411588 31743682 32023798 15039483 17739173 14539633 57538847 7225701 32631154 7313932 24907693 STIMULATING MEANINGFUL INNOVATION BY SUPPORTING THE DEVELOPMENT OF, AND ACCESS TO, TRANSFORMATIVE EDUCATIONAL PROGRAMS; BY WORKING TO IDENTIFY AND SUPPORT THE MOST PROMISING POTENTIAL STUDENTS REGARDLESS OF LOCATION OR CIRCUMSTANCES. 0 0 27022070 7577525 15223045 OPERATE AFFORDABLE, HIGH QUALITY EDUCATIONAL PROGRAMS LEADING TO AN UNDERGRADUATE DEGREE. TO ACCOMPLISH THIS, THE INSTITUTE IDENTIFIES STUDENTS, AWARDS SCHOLARSHIPS AND OTHER DIRECT AID, PROVIDES INSTRUCTION USING HIGH QUALITY, SCAFFOLDED CURRICULA ON AN INNOVATE LIVE VIDEO-BASED PLATFORM AND IMMERSIVE RESIDENTIAL SERVICES IN SEVEN GLOBAL LOCATIONS. 446548 3333 788945 OPERATE HIGH QUALITY EDUCATIONAL PROGRAMS LEADING TO A GRADUATE DEGREE. TO ACCOMPLISH THIS, THE INSTITUTE IDENTIFIES STUDENTS AND PROVIDES INSTRUCTION USING HIGH QUALITY, SCAFFOLDED CURRICULA ON AN INNOVATIVE LIVE VIDEO-BASED PLATFORM. 36298 400270 OPERATE HIGH QUALITY EDUCATIONAL NON-DEGREE PROGRAMS WITH A DURATION OF A FEW WEEKS OR UP TO A YEAR. TO ACCOMPLISH THIS, THE INSTITUTE IDENTIFIES STUDENTS AND PROVIDES INSTRUCTION USING HIGH QUALITY, SCAFFOLDED CURRICULA ON AN INNOVATE LIVE VIDEO-BASED PLATFORM. 27504916 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 1 1 1 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 40 0 1 593 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA DC X THE ORGANIZATION 4153252059 14 MINT PLAZA FLOOR 3 SAN FRANCISCO CA 94103 MICHAEL MAGEE PRESIDENT 40.00 X 348741 0 13321 VICKI CHANDLER CHIEF ACADEMIC OFFICER, PROVOST 40.00 X 299250 0 18563 NIKOLAUS PELKA CFO 40.00 X 211623 0 22382 THERESE CANNON SR. ADVISOR 40.00 X 214988 0 18563 JOSHUA FOST VICE PROVOST OF INNOVATION 40.00 X 204667 0 18650 JUNKO GREEN CHIEF DISCOVERY AND COMM. OFFICER 40.00 X 214375 0 0 DOLLIE DAVIS ASSOCIATE DEAN OF FACULTY 40.00 X 190200 0 13281 RICHARD HOLMAN DEAN OF FACULTY 40.00 X 166667 0 19982 KAYLA DORA KRUPNICK WALSH DEAN OF STUDENT 40.00 X 180000 0 0 MARIANNA PANOSSI GLOBAL DIRECTOR OF STUDENT SERVICES 40.00 X 151094 0 12106 LUCAS TAMBASCO PROFESSOR 40.00 X 145564 0 11734 SUZANNE KERN PROFESSOR 40.00 X 138185 0 7776 TRISHA STAN PROFESSOR 40.00 X 137643 0 7545 BOB KERREY CHAIR 2.50 X X 0 0 0 STACEY CHILDRESS VICE CHAIR 1.50 X X 0 0 0 BEN NELSON FOUNDER & DIRECTOR 1.50 X 0 0 0 ROBIN GOLDBERG DIRECTOR 1.50 X 0 0 0 MICHAEL HORN DIRECTOR 1.50 X 0 0 0 RICHARD MELNICK DIRECTOR 1.50 X 0 0 0 BERTIL ANDERSON DIRECTOR 1.50 X 0 0 0 WENDELL PRITCHETT DIRECTOR 1.50 X 0 0 0 DR VENKI RAMAKRISHNAN DIRECTOR 1.00 X 0 0 0 RANDY SCHEKMAN DIRECTOR 1.50 X 0 0 0 DIANE TAVENNER DIRECTOR 1.50 X 0 0 0 YIMING ZHANG DIRECTOR 1.50 X 0 0 0 2602997 0 163903 37 0 1 0 SCHEFFLER CONSULTING AND INVESTMENTS 7 HAMPTON AVENUE CAPE TOWN NEWLANDS SF 7700 INTERNATIONAL PROFESSOR 302928 ALEXANDRA TERRANA 8081 BIRCHMOUNT RD UNIT 1410 MARKHAM ONTARIO CA L6G0G5 INTERNATIONAL PROFESSOR 179298 ALEXIS J DIAMOND 38 ROCKCLIFFE WAY OTTAWA ONTARIO CA K1M 1B5 INTERNATIONAL PROFESSOR 142064 STOCHASTIC CONSULTING PTY LTD-PHILIP STE 7 WYTHENSHAWE AVENUE PINELANDS SF 7403 INTERNATIONAL PROFESSOR 140588 ENGIN VOLKAN LEGMEERSTRAAT 7H AMSTERDAM NL 1058 INTERNATIONAL PROFESSOR 140266 9 213322 32826522 33039844 UNDERGRADUATE PROGRAM 900099 15202105 15202105 GRADUATE PROGRAM 900099 788945 788945 NON-DEGREE PROGRAM 900099 400270 400270 16391320 302646 302646 194830 168426 26404 26404 20940 5464 2604 0 2604 2604 2604 MINERVA BRAND LOYALTY 900099 153 153 153 49762971 16412260 0 310867 2691158 2691158 4889700 4889700 2100175 963379 963379 173417 11635093 10395537 1239556 582071 463874 118197 714013 569023 144990 145632 65300 80332 119882 119882 1473092 761184 711908 694507 674686 19821 219903 186288 33615 443722 316589 127133 4375748 4274041 101707 832885 638238 194647 172120 108703 63417 373267 42260 331007 SOFTWARE AND LICENSES 274849 231461 43388 LIBRARY AND PACKS 92254 68044 24210 PARTNER SERVICES 85980 85980 DUES AND SUBSCRIPTIONS 54360 40094 14266 53387 39377 14010 32023798 27504916 4345465 173417 4291798 685199 22898487 2370952 2401085 514080 743606 270460 250985 82893 19475 5834079 921353 1618729 1445831 28250913 14539633 57538847 530625 1234062 2017629 2762979 3185294 1492153 28634113 7225701 32631154 X 7313932 24907693 7313932 24907693 14539633 57538847 X 17739173 -145412 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 83439 66371 17068 187021 184614 2407 19475 SECURITY DEPOSITS 1485127 OPERATING RIGHT OF USE LEASE ASSETS 26765786 28250913 STUDENT DEPOSITS 718214 OPERATING LEASE LIABILITIES 27915899 28634113 X 43959280 1608741 -7580858 -5972117 49931397 -168426 -168426 49762971 26220107 1608741 168426 1777167 24442940 7580858 7580858 32023798 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE (THE CODE), AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE CODE, AND FROM CALIFORNIA INCOME TAXES UNDER SECTION 23701D OF THE CALIFORNIA REVENUE AND TAXATION CODE. ALTHOUGH THE ORGANIZATION IS RECOGNIZED AS TAX EXEMPT, IT IS STILL LIABLE FOR INCOME TAX ON ANY UNRELATED BUSINESS TAXABLE INCOME (UBTI). MANAGEMENT BELIEVES THERE WAS NO TAX LIABILITY RELATING TO UBTI AS OF JUNE 30, 2023 AND 2022. THE ORGANIZATION APPLIES THE PROVISIONS SET FORTH IN FASB ASC TOPIC 740, INCOME TAXES, TO ACCOUNT FOR THE UNCERTAINTY IN INCOME TAXES. THE ORGANIZATION HAS ASSESSED ALL INCOME TAX POSITIONS TAKEN WHERE THE STATUTE OF LIMITATIONS REMAINS OPEN, GENERALLY THREE YEARS FROM THE FILING OF THE FEDERAL RETURNS AND FOUR YEARS FROM THE FILING OF CALIFORNIA RETURNS. THE ORGANIZATION BELIEVES ITS TAX FILING POSITIONS WILL BE SUSTAINED UPON TAX EXAMINATIONS; THEREFORE, NO LIABILITY FOR UNCERTAIN INCOME TAX POSITIONS HAS BEEN RECORDED THROUGH JUNE 30, 2023. THE ORGANIZATION DOES NOT ANTICIPATE ANY SIGNIFICANT INCREASES OR DECREASES TO UNCERTAIN INCOME TAX POSITIONS DURING THE NEXT TWELVE MONTHS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS -7,580,858. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE -168,426. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 168,426. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 7,580,858. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 SOUTH AMERICA 0 11 PROGRAM SERVICES/GRANTS STUDENT OUTREACH ACTIVITIES INTERNATIONAL CONTRACTED FACULTY 4289049 ASIA 0 21 PROGRAM SERVICES/GRANTS DORMITORY EXPENSES (SETUP, RENT, UTILITIES, MANAGEMENT, REPAIRS)STUDENT EVENTS (SPACE RENT, SUPPLIES, MEALS/TRANSPORTATION)STUDENT SERVICES (COUNSELING, EVENT MANAGEMENT, DORMITORY MANAGEMENT, VISA) STUDENT OUTREACH ACTIVITIES INTERNATIONAL CONTRACTED FACULTY 4233443 NORTH AMERICA 0 7 PROGRAM SERVICES STUDENT OUTREACH ACTIVITIES INTERNATIONAL CONTRACTED FACULTY 726477 EUROPE 0 15 PROGRAM SERVICES/GRANTS DORMITORY EXPENSES (SETUP, RENT, UTILITIES, MANAGEMENT, REPAIRS)STUDENT EVENTS (SPACE RENT, SUPPLIES, MEALS/TRANSPORTATION)STUDENT SERVICES (COUNSELING, EVENT MANAGEMENT, DORMITORY MANAGEMENT, VISA) STUDENT OUTREACH ACTIVITIES INTERNATIONAL CONTRACTED FACULTY 701690 AFRICA 0 5 PROGRAM SERVICES/GRANTS STUDENT OUTREACH ACTIVITIES INTERNATIONAL CONTRACTED FACULTY 694195 0 59 0 0 0 59 10644854 0 10644854 SCHOLARSHIPS EUROPE 14 85375 CREDIT WITHIN A STUDENT'S TERM BILL SCHOLARSHIPS EAST ASIA AND THE PACIFIC 193 1808512 CREDIT WITHIN A STUDENT'S TERM BILL SCHOLARSHIPS SUB-SAHARAN AFRICA 4 15075 CREDIT WITHIN A STUDENT'S TERM BILL SCHOLARSHIPS SOUTH AMERICA 272 2980738 CREDIT WITHIN A STUDENT'S TERM BILL 0 0 0 0 0 0 PART I, LINE 2: MINERVA HAS A NEED-BASED FINANCIAL AID PROGRAM AND GRANTS SCHOLARSHIPS TO MINERVA STUDENTS FOR TUITION AND/OR HOUSING. STUDENTS ARE REQUIRED TO COMPLETE AN INSTITUTIONAL SPECIFIC FINANCIAL AID APPLICATION. SCHOLARSHIPS ARE CREDITED DIRECTLY WITHIN A STUDENT'S TERM BILL. PART III ACCOUNTING METHOD: 1 SCHOLARSHIPS 164 2691158 PART I, LINE 2: MINERVA HAS A NEED-BASED FINANCIAL AID PROGRAM AND GRANTS SCHOLARSHIPS TO MINERVA STUDENTS FOR TUITION AND/OR HOUSING. STUDENTS ARE REQUIRED TO COMPLETE AN INSTITUTIONAL SPECIFIC FINANCIAL AID APPLICATION. SCHOLARSHIPS ARE CREDITED DIRECTLY WITHIN A STUDENT'S TERM BILL. X X X X X 0 0 0 0 0 0 0 0 0 MICHAEL MAGEE PRESIDENT 328741 0 20000 0 0 0 0 0 13321 0 362062 0 0 0 VICKI CHANDLER CHIEF ACADEMIC OFFICER, PROVOST 299250 0 0 0 0 0 0 0 18563 0 317813 0 0 0 NIKOLAUS PELKA CFO 211623 0 0 0 0 0 0 0 22382 0 234005 0 0 0 THERESE CANNON SR. ADVISOR 214988 0 0 0 0 0 0 0 18563 0 233551 0 0 0 JOSHUA FOST VICE PROVOST OF INNOVATION 204667 0 0 0 0 0 0 0 18650 0 223317 0 0 0 JUNKO GREEN CHIEF DISCOVERY AND COMM. OFFICER 214375 0 0 0 0 0 0 0 0 0 214375 0 0 0 DOLLIE DAVIS ASSOCIATE DEAN OF FACULTY 185200 0 5000 0 0 0 0 0 13281 0 203481 0 0 0 RICHARD HOLMAN DEAN OF FACULTY 166667 0 0 0 0 0 0 0 19982 0 186649 0 0 0 KAYLA DORA KRUPNICK WALSH DEAN OF STUDENT 180000 0 0 0 0 0 0 0 0 0 180000 0 0 0 MARIANNA PANOSSI GLOBAL DIRECTOR OF STUDENT SERVICES 151094 0 0 0 0 0 0 0 12106 0 163200 0 0 0 LUCAS TAMBASCO PROFESSOR 145564 0 0 0 0 0 0 0 11734 0 157298 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE FORM 990 IS REVIEWED BY VARIOUS MEMBERS OF THE BOARD OF DIRECTORS. ANY QUESTIONS OR PROPOSED REVISIONS/ADDITIONS ARE COMMUNICATED BY THE REVIEWERS TO THE OUTSIDE CPA PREPARER OF THE FORM 990. A COPY OF THE FINAL FORM 990 IS FORWARDED TO ALL MEMBERS OF THE ORGANIZATION'S BOARD OF DIRECTORS BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C PERIODIC REVIEWS ARE CONDUCTED TO ENSURE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION USED THE FOLLOWING TO ESTABLISH THE COMPENSATION OF THE ORGANIZATION'S OFFICERS: COMPENSATION COMMITTEE, FORM 990 OF OTHER ORGANIZATIONS, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY/STUDY, AND APPROVAL BY THE BOARD/COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIALS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: ADOPTION OF NEW LEASE ACCOUNTING STANDARD -145,412. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.