2024-02-20T08:30:23-06:00 2023-06-30 450250958 EIDE BAILLY LLP 345 N REID PL STE 400 SIOUX FALLS SD 571037034 990 2022-07-01 460283336 MOUNT MARTY UNIVERSITY MOUN 6056681514 1105 WEST 8TH STREET YANKTON SD 57078 LORI READ CFO, VP-FINANCE/ADMINSTRATION 6056681514 2024-02-12 1 LORI READ 999009999 1 LAURIE HANSON CPA P00851848 6053391999 2024-02-12 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z MARCUS LONG 1105 WEST 8TH STREET YANKTON SD 57078 61436291 0 X WWW.MOUNTMARTY.EDU X 1936 SD THE INSTITUTION IS A PRIVATE, CATHOLIC UNIVERSITY OF HIGHER LEARNING. 19 18 529 35 -2485 0 6119213 4054156 21783504 27364878 1832953 8986763 2219778 195799 31955448 40601596 10391459 11029344 0 0 10711887 11550750 80090 80089 613065 9182134 9848632 30365570 32508815 1589878 8092781 70710505 71794505 27573136 26657155 43137369 45137350 X MOUNT MARTY UNIVERSITY, 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 29616560 11029344 27415141 PROVIDING EDUCATIONAL SERVICES TO APPROXIMATELY 1,373 STUDENTS. 29616560 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 1 0 0 0 1 36 0 1 529 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 19 18 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X X LORI READ 6056681603 1105 WEST 8TH STREET YANKTON SD 57078 DR JIM FITZGERALD CHAIR 2.50 X X 0 0 0 MR ROB STEPHENSON VICE CHAIR 2.50 X X 0 0 0 MR DENIS FOKKEN TREASURER 2.50 X X 0 0 0 S MARY JO POLAK SECRETARY 2.50 X X 0 0 0 DR J LEE JOHNSON DIRECTOR 1.30 X 0 0 0 DR LORI HANSEN DIRECTOR FROM 01/23 1.30 X 0 0 0 FR JAMES KEITER DIRECTOR 1.30 X 0 0 0 FR PAUL RUTTEN DIRECTOR FROM 01/23 1.30 X 0 0 0 MR DARYL THURINGER DIRECTOR 1.30 X 0 0 0 MR DONALD ROBY DIRECTOR 1.30 X 0 0 0 MR JEFF MAY DIRECTOR UNTIL 09/22 1.30 X 0 0 0 MR JOHN PORTER DIRECTOR 1.30 X 0 0 0 MR SHAWN GALLAGHER DIRECTOR 1.30 X 0 0 0 MS DEB FISCHER-CLEMENS DIRECTOR FROM 01/23 1.30 X 0 0 0 MR MICHAEL DONOHOE DIRECTOR 1.30 X 0 0 0 S BARBARA MCTAGUE DIRECTOR 1.30 X 0 0 0 S CAROL JEAN VANDENHEMEL DIRECTOR 1.30 X 0 0 0 S MARIBETH WENTZLAFF DIRECTOR FROM 01/23 1.30 X 0 0 0 S MILDRED BUSCH DIRECTOR 1.30 X 0 0 0 S PATRICIA ANN TOSCANO DIRECTOR 1.30 X 0 0 0 DR MARCUS LONG PRESIDENT 40.00 X 272077 0 37603 TABITHA LIKNESS VP OF FINANCE/ ADMIN UNTIL 05/23 40.00 X 77144 0 9107 LORI READ CFO FROM 05/23 40.00 X 0 0 0 WILLIAM MILLER EXECUTIVE VICE PRESIDENT AND PROVOST 40.00 X 155689 0 33450 JAMES BARNETT ASST. PROF.-NURSE ANESTHESIA 40.00 X 163741 0 25837 LARRY DAHLEN PROF.-NURSE ANESTHESIA 40.00 X 174265 0 24961 BROCK SMITH ASST. PROF.-NURSE ANESTHESIA 40.00 X 167022 0 10871 ANDREA ROBERTS DIR. AND ASST. PROF.-ANESTHESIA 40.00 X 211552 0 35603 TAYLOR REHFELDT ASST. PROF.-NURSE ANESTHESIA 40.00 X 187397 0 8955 1408887 0 186387 7 0 1 0 ALADDIN FOOD MANAGEMENT SERVICES LLC NW 8704 MINNEAPOLIS MN 554855704 FOOD SERVICE 1014047 WELFL CONSTRUCTION CORP 800 W 23RD ST YANKTON SD 57078 CONSTRUCTION 728860 ANTHOLOGY PO BOX 850001 ORLANDO FL 32885 SOFTWARE 381486 FRESH PRODUCE 400 N MAIN AVE SUITE 100 SIOUX FALLS SD 57104 MARKETING 242846 4 5000 49160 654287 3345709 17174 4054156 TUITION & FEES 611710 23002104 23002104 ROOM AND BOARD 611710 3598444 3598444 SPORTING EVENT ADMNISSION 611710 21503 21503 742827 745312 -2485 27364878 328519 328519 62577 0 62577 62577 62577 29399166 20740922 8658244 8658244 8658244 97429 5000 11985 85444 85444 129566 81788 47778 47778 40601596 27415141 -2485 9134784 11029344 11029344 604085 604085 75822 75822 9033598 8278666 441690 313242 294717 279549 6320 8848 924804 834639 63751 26414 617724 533230 64825 19669 97988 97988 22951 22951 80089 80089 816946 705773 97490 13683 339421 311752 27150 519 535559 383641 118340 33578 476313 18158 458155 894499 877190 12936 4373 645028 622644 13654 8730 970896 849534 87132 34230 1576593 1551893 18525 6175 236410 233364 2281 765 FOOD SERVICES 1106745 1083210 3142 20393 SUPPLIES 634507 607380 7654 19473 REPAIRS AND MAINTENANCE 424794 370359 53007 1428 MEMBERSHIP FEES 212571 207718 3583 1270 857411 762694 74531 20186 32508815 29616560 2279190 613065 3437019 1637497 1650440 1723157 972289 1166679 855962 852846 1026866 780056 56131908 24994011 31121668 31137897 31035117 33701817 519492 696381 91652 98175 70710505 71794505 835057 941937 1143428 1262761 13407143 12952857 5401270 5229607 6786238 6269993 27573136 26657155 X 10327018 9549040 32810351 35588310 43137369 45137350 70710505 71794505 X 8092781 -6110957 18157 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 30841524 1786958 2860293 1451642 79594 33957539 34620689 1601113 -4073471 1191137 115670 30841524 28072359 441222 7302599 1040839 154652 34620689 28252427 403455 682444 1131091 134876 28072359 26608805 416980 2141861 837803 77416 28252427 0.01070 0.74430 0.24500 0 0 1300717 1300717 44022400 16842549 27179851 8382533 6604424 1778109 2426258 1547038 879220 31137897 CHARITABLE REMAINDER UNITRUST 214758 REFUNDABLE U.S. GOVERNMENT ADVANCES 990094 LONG-TERM RELATED NOTE PAYABLE, UNSECURED 4300000 OTHER LIABILITIES 765141 6269993 X 23712444 -6110957 237207 -11109175 -16982925 40695369 -93773 -93773 40601596 21712463 237207 93773 330980 21381483 11127332 11127332 32508815 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 UNIVERSITY'S INVESTMENT POLICY. THE POLICY STATES THAT THE DISTRIBUTIONS MAY BE MADE UP TO 5% 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. PART X, LINE 2: THE UNIVERSITY 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 UNIVERSITY 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. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED TO REVENUE FOR GAAP -11,029,344. ADMINISTRATIVE EXPENSES NETTED TO REVENUE FOR GAAP -97,988. CHANGE IN VALUE OF SPLIT INTEREST OBLIGATIONS 18,157. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD NETTED TO REVENUE -81,788. SPECIAL EVENT EXPENSES -11,985. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD NETTED TO REVENUE 81,788. SPECIAL EVENT EXPENSES 11,985. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED TO REVENUE FOR GAAP 11,029,344. ADMINISTRATIVE EXPENSES NETTED TO REVENUE FOR GAAP 97,988. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 UNIVERSITY CATALOG, WEBSITE, AND BROADCAST MEDIA SCHEDULE E, PART I, LINE 6 THE UNIVERSITY 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 UNIVERSITY, SUCH AS SUPPLEMENTAL EDUCATION OPPORTUNITIES, WORK STUDY GRANTS, AND ADMINISTRATION OF SUCH PROGRAMS. X X X X X 0 EAB PO BOX 603519 CHARLOTTE NC 282603519 MARKETING SERVICES 0 0 80089 0 80089 AL AK AZ AR CA CO DE DC FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT WA WV WI WY CT MMU GOLF CLASSIC MAY 2023 38893 5000 33893 900 4870 765 860 GIVING DAY 2023 63536 63536 4590 102429 5000 97429 900 4870 765 5450 11985 85444 1 SCHOLARSHIPS 605 11029344 PART I, LINE 2: THE UNIVERSITY 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 1 0 X X 0 0 0 0 0 0 0 0 0 DR MARCUS LONG PRESIDENT 247597 0 0 0 24480 0 12180 0 25475 0 309732 0 0 0 ANDREA ROBERTS DIR. AND ASST. PROF.-ANESTHESIA 211552 0 0 0 0 0 10095 0 25560 0 247207 0 0 0 LARRY DAHLEN PROF.-NURSE ANESTHESIA 174265 0 0 0 0 0 6915 0 18098 0 199278 0 0 0 TAYLOR REHFELDT ASST. PROF.-NURSE ANESTHESIA 187397 0 0 0 0 0 8955 0 52 0 196404 0 0 0 JAMES BARNETT ASST. PROF.-NURSE ANESTHESIA 163741 0 0 0 0 0 8305 0 17585 0 189631 0 0 0 WILLIAM MILLER EXECUTIVE VICE PRESIDENT AND PROVOST 155689 0 0 0 0 0 8522 0 24980 0 189191 0 0 0 BROCK SMITH ASST. PROF.-NURSE ANESTHESIA 167022 0 0 0 0 0 8471 0 2452 0 177945 0 0 0 PART I, LINE 1A THE PRESIDENT OF MOUNT MARTY UNIVERSITY, MARC LONG, RECEIVES $2,000 PER MONTH FOR A HOUSING STIPEND. THIS AMOUNT IS TAXABLE ON HIS W-2. A CITY OF YANKTON SOUTH DAKOTA 466000567 2019-06-28 13841310 CONSTRUCTION, FURNISHING, AND EQUIPPING OF FIELDHOUSE 0 0 0 A 888453 13841310 209756 41800 13589754 2020 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 0 1 0 0 0 1 A 1 JOE RUTTEN FAMILY MEMBER OF BOARD MEMBER 75822 EMPLOYEE COMPENSATION 0 FORM 990, PART VI, SECTION A, LINE 1A THE BOARD EXECUTIVE COMMITTEE HAS BROAD AUTHORITY TO ACT ON BEHALF OF THE BOARD. THE EXECUTIVE COMMITTEE SHALL INCLUDE THE BOARD CHAIR, VICE CHAIR, SECRETARY, TREASURER, THE PRIORESS OR HER DESIGNEE, AND ADDITIONAL TRUSTEES SELECTED BY THE CHAIR. THE PRESIDENT SHALL BE AN EX-OFFICIO MEMBER WITHOUT VOTE, AND SHALL NOT BE COUNTED AS PART OF A QUORUM FOR THE PURPOSE OF TRANSACTING BUSINESS. THE EXECUTIVE COMMITTEE SHALL HAVE AUTHORITY TO ACT FOR THE BOARD OF TRUSTEES ON ALL MATTERS, EXCEPT FOR THE FOLLOWING, WHICH SHALL BE RESERVED FOR THE BOARD AND/OR THE MEMBERS: PRESIDENTIAL SELECTION AND TERMINATION; TRUSTEE AND BOARD-OFFICER ELECTION; CHANGES IN INSTITUTIONAL MISSION AND PURPOSE; CHANGES TO THE ARTICLES OF INCORPORATION; INCURRING OF CORPORATE INDEBTEDNESS; SALE OF UNIVERSITY ASSETS OR TANGIBLE PROPERTY; ADOPTION OF THE ANNUAL BUDGET; DETERMINING TENURE AWARDS; AND CONFERRAL OF DEGREES. THESE BYLAWS OR OTHER BOARD POLICIES MAY RESERVE OTHER POWERS FOR THE BOARD OF TRUSTEES AND/OR MEMBERS. IN ADDITION TO ITS AUTHORITY TO TAKE ACTION ON EMERGENCY MATTERS THAT CANNOT OR SHOULD NOT BE DEFERRED TO THE BOARD'S NEXT SCHEDULED MEETING, THE EXECUTIVE COMMITTEE SHALL OVERSEE THE WORK OF BOARD COMMITTEES, THE UNIVERSITY'S PLANNING PROCESS AND PROGRESS ON PLANNING GOALS, THE BOARD'S RESPONSIBILITY TO SUPPORT THE PRESIDENT AND ASSESS HIS OR HER PERFORMANCE, AND REVIEW ANNUALLY THE PRESIDENT'S COMPENSATION AND TERMS OF EMPLOYMENT. FORM 990, PART VI, SECTION A, LINE 2 DENIS FOKKEN AND ROB STEPHENSON HAVE A BUSINESS RELATIONSHIP. 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 UNIVERSITY AS FOLLOWS: (A) TO APPROVE THE STATEMENTS OF PHILOSOPHY, MISSION AND OBJECTIVES OF THE UNIVERSITY; (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 UNIVERSITY 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 UNIVERSITY; (E) TO AMEND THE BYLAWS OF THE UNIVERSITY; (F) TO OVERSEE THE UNIVERSITY'S FISCAL POLICIES AND TO ESTABLISH POLICIES GOVERNING THE UNIVERSITY'S FINANCIAL POSITION; (G) TO RECEIVE THE UNIVERSITY'S ANNUAL REPORT; (H) TO APPOINT AND REMOVE THE PRESIDENT OF THE UNIVERSITY, AFTER SEEKING GUIDANCE FROM THE BOARD OF TRUSTEES; (I) TO APPROVE AND/OR ACT UPON THE MERGER, CONSOLIDATION OR DISSOLUTION OF THE UNIVERSITY; AND (J) TO ADOPT POLICIES TO EFFECTUATE THE AUTHORITIES RESERVED TO THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. THE FINANCE & AUDIT COMMITTEE REVIEWS THE 990 AND A COPY OF THE 990 IS PROVIDED TO THE FULL BOARD ALONG WITH A RECOMMENDATION FROM THE FINANCE & AUDIT COMMITTEE. THE FULL BOARD THEN REVIEWS AND APPROVES THE 990 PRIOR TO FILING. 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 UNIVERSITY; 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 UNIVERSITY. 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 WAS UNDERTAKEN BY THE BOARD OF TRUSTEES, USING GUIDESTAR.ORG TO DETERMINE APPROPRIATE LEVELS OF COMPENSATION. A MULTI-YEAR 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. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST OBLIGATIONS 18,157. 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 N/A 0 CHARITABLE REMAINDER TRUSTS (1) CRT SD N/A T 1 0 0 1 0 1 0 0 0 0 0 1 0 1 1 1 1 1 0 1