Civic Intelligence

Macalester College

990 • Fiscal year 2014 • EIN 41-0693962

Jun 01, 2013 to May 31, 2014 • Filed on Jan 14, 2015

1600 Grand Avenue55105

(651) 696-6000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

14th percentile

0.11x

Higher debt load relative to assets than 14% of similar nonprofits.

2014 filings • 501(c)3 • $1B+ nonprofits • Source year 2014

Liabilities / Revenue

44th percentile

0.69x

Higher debt load relative to revenue than 44% of similar nonprofits.

2014 filings • 501(c)3 • $1B+ nonprofits • Source year 2014

Net Margin

59th percentile

11%

Higher net margin than 59% of similar nonprofits.

2014 filings • 501(c)3 • $1B+ nonprofits • Source year 2014

Top Officer Pay

20th percentile

$743,968

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 0.4% of source-year revenue.

2014 filings • 501(c)3 • $1B+ nonprofits • Source year 2014

Asset Growth

35th percentile

5.9%

Faster asset growth than 35% of similar nonprofits.

2014 filings • 501(c)3 • $1B+ nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Up

$1,038,453,296

Up $57,530,248 (+5.9%) from 2013

Net Assets

Up

$924,216,523

Up $65,712,844 (+7.7%) from 2013

Liabilities

Down

$114,236,773

Down $8,182,596 (-6.7%) from 2013

Revenue

$166,078,460

No earlier filing loaded for comparison.

Expenses

Up

$147,752,114

Up $2,995,302 (+2.1%) from 2013

Net Income

$18,326,346

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5B$1.0B$500M$0Assets 2010: $839,235,596Liabilities 2010: $96,204,831Net Assets 2010: $743,030,7652010Assets 2011: $934,013,579Liabilities 2011: $112,522,105Net Assets 2011: $821,491,4742011Assets 2012: $893,913,303Liabilities 2012: $110,593,673Net Assets 2012: $783,319,6302012Assets 2013: $980,923,048Liabilities 2013: $122,419,369Net Assets 2013: $858,503,6792013Assets 2014: $1,038,453,296Liabilities 2014: $114,236,773Net Assets 2014: $924,216,5232014Assets 2015: $1,065,377,191Liabilities 2015: $111,057,589Net Assets 2015: $954,319,6022015Assets 2016: $994,641,549Liabilities 2016: $115,016,530Net Assets 2016: $879,625,0192016Assets 2017: $1,043,222,267Liabilities 2017: $109,709,637Net Assets 2017: $933,512,6302017Assets 2018: $1,096,074,911Liabilities 2018: $130,415,282Net Assets 2018: $965,659,6292018Assets 2019: $1,074,114,627Liabilities 2019: $125,234,227Net Assets 2019: $948,880,4002019Assets 2020: $1,007,704,963Liabilities 2020: $119,761,147Net Assets 2020: $887,943,8162020Assets 2021: $1,183,330,680Liabilities 2021: $117,600,326Net Assets 2021: $1,065,730,3542021Assets 2022: $1,170,331,985Liabilities 2022: $107,982,552Net Assets 2022: $1,062,349,4332022Assets 2023: $1,136,616,418Liabilities 2023: $104,649,234Net Assets 2023: $1,031,967,1842023Assets 2024: $1,183,342,955Liabilities 2024: $95,007,620Net Assets 2024: $1,088,335,3352024Assets 2025: $1,204,649,550Liabilities 2025: $93,109,010Net Assets 2025: $1,111,540,5402025

Highlighted filing

2014

Assets$1,038,453,296
Liabilities$114,236,773
Net Assets$924,216,523

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400M$300M$200M$100M$0-$100MExpenses 2010: $125,222,6352010Expenses 2011: $132,557,6132011Expenses 2012: $139,003,4832012Expenses 2013: $144,756,8122013Revenue 2014: $166,078,460Expenses 2014: $147,752,114Net Income 2014: $18,326,3462014Revenue 2015: $180,208,896Expenses 2015: $154,224,009Net Income 2015: $25,984,8872015Revenue 2016: $160,633,000Expenses 2016: $164,481,644Net Income 2016: -$3,848,6442016Revenue 2017: $172,999,728Expenses 2017: $168,504,922Net Income 2017: $4,494,8062017Revenue 2018: $189,131,208Expenses 2018: $174,685,213Net Income 2018: $14,445,9952018Revenue 2019: $190,322,410Expenses 2019: $183,542,061Net Income 2019: $6,780,3492019Revenue 2020: $194,574,901Expenses 2020: $182,968,113Net Income 2020: $11,606,7882020Revenue 2021: $186,131,359Expenses 2021: $183,734,830Net Income 2021: $2,396,5292021Revenue 2022: $244,054,079Expenses 2022: $205,353,835Net Income 2022: $38,700,2442022Revenue 2023: $186,433,740Expenses 2023: $207,478,400Net Income 2023: -$21,044,6602023Revenue 2024: $224,715,359Expenses 2024: $216,451,523Net Income 2024: $8,263,8362024Revenue 2025: $328,451,827Expenses 2025: $226,110,361Net Income 2025: $102,341,4662025

Highlighted filing

2014

Revenue$166,078,460
Expenses$147,752,114
Net Income$18,326,346
Jump To
Filing Snapshot
Filing Period
Jun 1, 2013 to May 31, 2014
Signed
Jan 14, 2015
Return Version
2013v4.0
Gross Receipts
$238,495,554
Mission and Program Overview

Mission

Macalester is committed to being a preeminent liberal arts college with an educational program known for its high standards for scholarship and its special emphasis on internationalism, multiculturalism, and service to society.

Macalester is a four-year highly-selective liberal arts college.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$353,730,805$374,288,204▲ $20,557,399
Investments in Publicly Traded Securities$288,082,451$322,231,128▲ $34,148,677
Land, Buildings, and Equipment, Net$209,975,325$221,837,057▲ $11,861,732
Savings and Temporary Cash Investments$84,317,203$73,161,673▼ $11,155,530
Pledges and Grants Receivable$8,119,082$6,985,902▼ $1,133,180
Other Notes and Loans Receivable, Net$5,739,274$6,104,590▲ $365,316
Prepaid Expenses and Deferred Charges$1,716,049$1,673,619▼ $42,430
Accounts Receivable$453,815$590,135▲ $136,320
Total Assets$980,923,048$1,038,453,296▲ $57,530,248
Other Assets Total$28,789,044$31,580,988▲ $2,791,944
Liabilities
Tax Exempt Bond Liabilities$90,358,663$86,210,000▼ $4,148,663
Accounts Payable and Accrued Expenses$14,540,065$11,577,336▼ $2,962,729
Other Liabilities$11,764,984$10,854,929▼ $910,055
Grants Payable$4,524,886$4,525,093▲ $207
Deferred Revenue$1,230,771$1,069,415▼ $161,356
Total Liabilities$122,419,369$114,236,773▼ $8,182,596
Net Assets / Fund Balance
Temporarily Rstr Net Assets$324,509,448$369,710,313▲ $45,200,865
Permanently Rstr Net Assets$353,906,701$361,357,401▲ $7,450,700
Unrestricted Net Assets$180,087,530$193,148,809▲ $13,061,279
Total Net Assets Fund Balance$858,503,679$924,216,523▲ $65,712,844
Total Liabilities and Net Assets / Fund Balance$980,923,048$1,038,453,296▲ $57,530,248

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$216,711,609$86,953,947$289,106,403
Equipment$3,384,624$10,296,317$13,680,941
Land$1,740,824-$1,740,824
Other Securities$65,072,829--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$663,324,373$3,277,124▲ $83,608,954$7,433,195$718,442,436
2012$597,674,972$2,347,751▲ $96,843,007$8,826,115$663,324,373
2011$638,449,674$4,229,032▼ $10,495,862$9,742,856$597,674,972
2010$572,459,775$1,203,062▲ $97,223,301$7,688,303$638,449,674
2009$523,140,564$4,137,481▲ $77,027,500$7,857,812$572,459,775
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brian RosenbergPresidentFT$491,367$252,601$743,968
Mansco Perry IiiChief Investment OfficerFT$273,038$40,154$313,192
Kathleen MurrayProvost/dean of FacultyFT$263,421$42,198$305,619
Thomas BonnerVP for AdvancementFT$235,662$42,786$278,448
David WheatonVP for Admin & FinanceFT$223,618$40,214$263,832
Adam ToshSenior Investment OfficerFT$184,877$17,172$202,049
Lorne RobinsonDean of Admiss. & Fin. AidFT$171,223$18,336$189,559
David LanegranProfessorFT$157,754$28,728$186,482
Timothy TaylorProfessorFT$146,197$32,807$179,004
Jerry SandersAssociate VP, ItsFT$149,653$28,177$177,830
Laurie HamreVP for Student AffairsFT$151,843$22,981$174,824
Christy HansonDean of IgcFT$144,875$15,752$160,627

Highest Paid Contractors

ContractorServicesLocationCompensation
Mcgough ConstructionConstruction-$18,894,845
Bon Appetit Management CoFood Service-$5,105,580
Northern TrustInvestment Custodian-$1,640,424
World Learning INCStudy Abroad Program-$1,022,944
Metropolitan Mechanical Contractors INCMechanical Contractor-$805,277
Revenue and Support

Revenue Composition

Contributions and Grants
$15,163,317
Program Service Revenue
$105,187,247
Investment Income
$44,266,201
Other Revenue
$1,461,695
All Other Contributions
$13,283,053
Change in Net Assets
$18,326,346

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded14$125,776Market Value
Total Noncash Contributions14$125,776-

Audited Revenue Reconciliation

Revenue per Audited Statements
$164,438,036
Revenue Not Reported on Financial Statements
$1,640,424
Revenue Not Reported on Form 990
$48,294,110
Total Revenue per Audited Statements
$212,732,146
Total Revenue per Form 990
$166,078,460
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$60,123,999
Grants and Similar Amounts Paid$44,870,226
Other Expenses$42,757,889
Total Fundraising Expense$4,279,243
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$37,105,193$5,664,511$2,189,427$44,959,131
Grants to Domestic Individuals$44,821,726--$44,821,726
Depreciation Depletion$7,555,718$792,378-$8,348,096
Other Employee Benefits$5,464,807$793,523$336,807$6,595,137
Office Expenses$4,415,049$725,615$545,629$5,686,293
Occupancy$3,002,955$255,152$4,348$3,262,455
Pension Plan Contributions$2,712,214$324,796$195,091$3,232,101
Interest$3,086,466$13,023-$3,099,489
Payroll Taxes$2,490,671$408,384$171,223$3,070,278
All Other Expenses$1,190,160$1,067,080$72,115$2,329,355
Current Officers, Directors, Trustees, and Key Employees$670,002$1,159,999$437,351$2,267,352
Travel$1,743,420$165,517$142,267$2,051,204
Information Technology$313,721$1,326,492$54,360$1,694,573
Fees for Service Investment Mgmnt Fees-$1,548,860-$1,548,860
Other Expenses$616,633$578,371$30,066$1,225,070
Fees for Services Other$462,301$649,329$46,690$1,158,320
Insurance$249,722$47,914$1,999$299,635
Conferences and Meetings$167,872$69,408$9,180$246,460
Fees for Services Legal$4,645$138,819$3,176$146,640
Fees for Services Lobbying-$91,564-$91,564
Fees for Services Accounting-$80,369-$80,369
Grants to Domestic Orgs$48,500--$48,500
Advertising$10,528$12,609$4,625$27,762
Total Functional Expenses$126,885,665$16,587,206$4,279,243$147,752,114

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$147,752,114
Total Expenses per Audited Statements$147,019,302
Expenses per Audited Statements$146,111,690
Expenses Not Reported on Financial Statements$1,640,424
Expenses Not Reported on Form 990$907,612
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
41-1414691-501(c)(3)Support of Community Organizing in the Macalester-groveland Neighborhood$30,500
41-1833066-501(c)(3)Support for Local Transit Advocacy Group$8,000
23-7133742-501(c)(3)SUPPORT OF THE DEAF & BLIND WOMEN'S HEALTH PROGRAM$5,000
41-1745779-501(c)(3)Support for Local Home Nurse Program$5,000

International Summary

Offices
0
Employees
0
Spending
$68,538,896

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments-00$45,793,209
EuropeInvestments-00$18,069,031
EuropeProgram ServiceStudy Abroad Programs00$1,960,673
South AmericaProgram ServiceStudy Abroad Programs00$795,395
East Asia and the PacificProgram ServiceStudy Abroad Programs00$538,759
North AmericaProgram ServiceStudy Abroad Programs00$495,686
Sub-saharan AfricaProgram ServiceStudy Abroad Programs00$229,983
Middle East and North AfricaProgram ServiceStudy Abroad Programs00$219,855
Central America and the CaribbeanProgram ServiceStudy Abroad Programs00$107,722
South AsiaProgram ServiceStudy Abroad Programs00$89,330
EuropeProgram ServiceGrant Research00$75,000
EuropeProgram ServiceClass Trip00$56,811
East Asia and the PacificProgram ServiceStudent Recruitment00$33,000
Middle East and North AfricaProgram ServiceArchaeological00$28,537
EuropeProgram ServiceStudent Recruitment00$14,850
Russia and the Newly Independent StatesProgram ServiceStudy Abroad Programs00$13,905
Central America and the CaribbeanProgram ServiceStudent Recruitment00$7,150
East Asia and the PacificProgram ServiceGrant Research00$5,000
Middle East and North AfricaProgram ServiceGrant Research00$5,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No

Reported Spending and Taxes

Line ItemAmount
Political Expenditures$0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Liab Under Planned Giving Agmts$8,664,083
Unamortized Bond Premium$1,041,762
Interest Rate Swap Agreement$892,536
Deposits$256,548

Bond Issues

BondIssuerIssuedIssue PricePurpose
B41-09885252007-03-07$39,470,869CONST/REFINANCE BONDS
C41-09885252010-12-17$16,248,711BLDG RENOVATION
A41-09885252003-02-20$15,300,000DORMITORY IMPROVEMENTS
D41-09885252012-12-12$15,166,520BLDG RENOVATION
A41-09885252014-02-01$3,995,000REFINANCE BONDS

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$39,470,869-$720,000$421,182
C$16,248,711--$183,150
A$15,300,000$3,995,000$9,245,000$300,000
D$15,166,520--$166,520
A$3,995,000---

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
Yes
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

Information for the form 990 is compiled by college personnel and submitted to the college's audit firm, who prepares a draft of the form. This draft is reviewed by the college's vp for administration and finance, assistant vp for finance, and director of accounting. Once a final draft of the form is ready, each member of the board of trustees is e-mailed a copy for review (with schedule b information redacted). All board members are instructed to review the form and provide feedback prior to the filing deadline.

Form 990, Part VI, Section B, Line 12C

Annually, officers, directors and key employees are sent a conflict of interest packet that includes a copy of the conflict of interest policy and a questionnaire. Completed questionnaires are returned to the vice president for administration and finance, where they are reviewed for interests that could give rise to conflicts. If a conflict exists at any time during the year, the affected board member(s) must abstain from any deliberations and voting on the topic to which the conflict applies. These deliberations and decisions are documented in the minutes of the audit committee of the board of trustees.

Form 990, Part VI, Section B, Line 15A

Each year, the director of employment services compiles data to support the work of the board of trustees' senior leadership review committee regarding the compensation of the president. The data are compiled using relevant independent and peer group salary surveys and are shared with all members of the committee. The committee is also made aware of the planned increases for administrative staff as determined through the annual budget approval process. The committee's final decision regarding the president's compensation is communicated in writing for processing and filing. The committee also receives information regarding the compensation of the college's senior leadership positions along with relevant peer group comparative data. Final decisions regarding the salaries of those individuals are the responsibility of the president.

Form 990, Part VI, Section C, Line 19

The college's financial statements are accessible by the public via the college's website. Governing documents and the conflict of interest policy are available to the public upon request.

Filing and Contact Details

Filer

EIN
41-0693962
Phone
6516966000

Signing Officer

Name
David Wheaton
Title
VP for Admin & Finance
Phone
6516966000
Signed
2015-01-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Wheaton
Formed
1874
Legal Domicile
Mn
Voting Board Members
34
Independent Board Members
33
Employees
2,730
Volunteers
1,800

Preparer

Preparer
Karen Gries
Phone
6123764500
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in value of planned giving agreements 888,638. Change in value of beneficial interest in perpetual trust 2,781,573. Change in value of interest rate swap 391,469.

PART I: AMENDED RETURN

The form 990 was amended to reflect changes to schedule k, part ii and part iv, as well as additional clarifying information on the conflict of interest policy disclosures on schedule o.

Financial Statement Notes

PART V, LINE 4:

Macalester college uses the earnings from its endowment funds for scholarships, prizes, awards, library support, program support, faculty support, and research in accordance with donor restrictions where applicable.

PART X, LINE 2:

The college's accounting policy provides that a tax expense/benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on technical merits. The college has no uncertain tax positions resulting in an accrual of tax expenses or benefit.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in value of planned giving agreements 888,638. Change in value of beneficial interest in perpetual trust 2,781,573. Change in value of interest rate swap 391,469. Rental expense 907,612.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

RENTAL EXPENSE 907,612.

Raw XML AppendixShowing 400 of 1,672 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0SEE SCHEDULE O. INSTRUCTION OF STUDENTS AND ACADEMIC SUPPORT OF INSTRUCTION: MACALESTER PREPARES STUDENTS FOR WORLD CITIZENSHIP THROUGH ITS BROAD-BASED, RIGOROUS LIBERAL ARTS EDUCATION. STUDENTS FROM 49 STATES AND MORE THAN 94 COUNTRIES EXPERIENCE AN ACADEMIC PROGRAM THAT RANKS AMONG THE TOP 25 IN THE NATION. TO SUPPORT STUDENT TEACHING AND LEARNING, MACALESTER MAINTAINS A STUDENT FACULTY RATIO OF 10:1, WITH AN AVERAGE CLASS SIZE OF 17. STUDENTS CAN CHOOSE FROM AMONG 38 MAJORS AND 35 MINORS, COMPRISED OF MORE THAN 800 COURSES. MACALESTER IS COMMITTED TO ADMITTING AN ECONOMICALLY DIVERSE STUDENT BODY AND MEETS THE FULL FINANCIAL NEED OF EVERY ADMITTED STUDENT. NEARLY TWO THIRDS OF STUDENTS STUDY ABROAD. MACALESTER'S SEVEN ACADEMIC FACILITIES AND LIBRARY BOAST STATE-OF-THE ART TECHNOLOGY, INCLUDING SCIENCE LABORATORIES AND A LEED PLATINUM CERTIFIED BUILDING. ENROLLMENT FOR FALL 2013 WAS 2,039 AND 472 STUDENTS GRADUATED DURING THE 2013-2014 FISCAL YEAR.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1,205$93.1$1,112$328$226$102
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,183$95.0$1,088$225$216$8.26
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,137$105$1,032$186$207$21.0
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,170$108$1,062$244$205$38.7
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,183$118$1,066$186$184$2.40
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,008$120$888$195$183$11.6
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,074$125$949$190$184$6.78
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,096$130$966$189$175$14.4
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,043$110$934$173$169$4.49
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$995$115$880$161$164$3.85
2015Detailed filing. Detailed filing data is available for this year.$1,065$111$954$180$154$26.0
2014Detailed filing. Detailed filing data is available for this year.$1,038$114$924$166$148$18.3
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$981$122$859$145
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$894$111$783$139
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$934$113$821$133
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$839$96.2$743$125