Civic Intelligence

Miles and Shirley Fiterman Endowment Fund

EIN 41-2020392 • 501(c)3 • Rochester, MN

Profile

Support research, practice, and education in the area of digestive diseases

200 1st St SW - Dev Off Gift PlanRochester, MN 55905

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2020

Liabilities / Revenue

61st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

2nd percentile

-3868%

Higher net margin than 2% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

9th percentile

-100%

Faster asset growth than 9% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

24th percentile

-33%

Faster revenue growth than 24% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $3,342,001 (-100%) from 2019

Liabilities

Flat

$0

Flat from 2019

Net Assets

Down

$0

Down $3,342,001 (-100%) from 2019

Operations
Liabilities / Revenue61st percentileNet Margin2nd percentile

Revenue

Down

$86,393

Down $43,067 (-33%) from 2019

Expenses

Up

$3,428,394

Up $3,428,394 from 2019

Net Income

Down

-$3,342,001

Down $3,471,461 (-2681%) from 2019

Trend Graphs

Balance Sheet Trend

Asset Growth9th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $1Liabilities 2010: $02010Assets 2011: $0Liabilities 2011: $02011Assets 2012: $0Liabilities 2012: $02012Assets 2013: $1,870,019Liabilities 2013: $0Net Assets 2013: $1,870,0192013Assets 2014: $2,076,776Liabilities 2014: $0Net Assets 2014: $2,076,7762014Assets 2015: $2,919,573Liabilities 2015: $0Net Assets 2015: $2,919,5732015Assets 2016: $2,975,028Liabilities 2016: $0Net Assets 2016: $2,975,0282016Assets 2017: $3,048,570Liabilities 2017: $0Net Assets 2017: $3,048,5702017Assets 2018: $3,212,541Liabilities 2018: $0Net Assets 2018: $3,212,5412018Assets 2019: $3,342,001Liabilities 2019: $0Net Assets 2019: $3,342,0012019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2020

Assets$0
Liabilities$0
Net Assets$0
Open 2020 Filing

Operations Trend

Revenue Growth24th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$2.0M$0-$2.0M-$4.0MRevenue 2010: $0Expenses 2010: $0Net Income 2010: $02010Revenue 2011: $0Expenses 2011: $0Net Income 2011: $02011Revenue 2012: $0Expenses 2012: $0Net Income 2012: $02012Revenue 2013: $1,870,019Expenses 2013: $0Net Income 2013: $1,870,0192013Revenue 2014: $206,757Expenses 2014: $0Net Income 2014: $206,7572014Revenue 2015: $842,797Expenses 2015: $0Net Income 2015: $842,7972015Revenue 2016: $55,455Expenses 2016: $0Net Income 2016: $55,4552016Revenue 2017: $73,542Expenses 2017: $0Net Income 2017: $73,5422017Revenue 2018: $163,971Expenses 2018: $0Net Income 2018: $163,9712018Revenue 2019: $129,460Expenses 2019: $0Net Income 2019: $129,4602019Revenue 2020: $86,393Expenses 2020: $3,428,394Net Income 2020: -$3,342,0012020

Highlighted filing

2020

Revenue$86,393
Expenses$3,428,394
Net Income-$3,342,001
Open 2020 Filing

Filings

Most recent year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$86,393
Expenses
$3,428,394
Net income
-$3,342,001
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.09$3.43$3.34
2019Detailed filing. Detailed filing data is available for this year.$3.34$0.00$3.34$0.13$0.00$0.13
2018Summary only. Only limited summary data is available for this year.$3.21$0.00$3.21$0.16$0.00$0.16
2017Summary only. Only limited summary data is available for this year.$3.05$0.00$3.05$0.07$0.00$0.07
2016Summary only. Only limited summary data is available for this year.$2.98$0.00$2.98$0.06$0.00$0.06
2015Summary only. Only limited summary data is available for this year.$2.92$0.00$2.92$0.84$0.00$0.84
2014Summary only. Only limited summary data is available for this year.$2.08$0.00$2.08$0.21$0.00$0.21
2013Summary only. Only limited summary data is available for this year.$1.87$0.00$1.87$1.87$0.00$1.87
2012Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00
2011Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00
2010Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Aug 16, 2021
Return Version
2020v4.1
Gross Receipts
$86,393
Mission and Program Overview

Mission

Support research, practice, and education in the area of digestive diseases

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$3,342,001$0▼ $3,342,001
Cap Stk Tr Prin Current Funds$3,342,001--
Rtn Earn Endowment Incm Other Fnds-$0-
Total Assets$3,342,001$0▼ $3,342,001
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,342,001$0▼ $3,342,001
Total Liabilities and Net Assets / Fund Balance$3,342,001$0▼ $3,342,001
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
David A AhlquistCo-Trustee
Keith D LindorCo-Trustee
Shirley FitermanCo-Trustee
Valerie HerschmanCo-Trustee
Harry N HoffmanExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$4,695
Other Revenue
$81,698
Change in Net Assets
$-3,342,001
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$3,428,394
Other Expenses$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$3,428,394--$3,428,394
Total Functional Expenses$3,428,394$0$0$3,428,394
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Mayo Clinic RochesterRochester, MN501(c)(3)Endowment Fund for Digestive Diseases.$3,428,394
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
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Valerie Herschman is the daughter of Shirley and Miles Fiterman. Valerie replaced her father's position as co-trustee, following his death in 2004.”

Form 990, Page 6, Part VI, Line 11-description of Process for Review

“The tax staff at TIAA Kaspick prepares the tax returns for charitable trusts, including the Miles and Shirley Fiterman Endowment, that are administered for Mayo Clinic as their client. The tax staff at Mayo Clinic provides information to be used in the preparation of the Form 990 and accompanying schedules. The 990 returns are reviewed by the tax staff at Mayo Clinic and any changes needed are discussed with TIAA Kaspick who would make any necessary changes in the final tax returns to be filed.”

Form 990, Page 6, Part VI, Line 19

“Forms 990 and 1023 are available for public inspections; however, other trust documents including governing documents and financial statements are not made available to the general public.”

Filing and Contact Details

Filer

Filer Name
Miles and Shirley Fiterman Endowment Fund
EIN
41-2020392
Phone
5072845261
Address
200 1ST ST SW - DEV OFF GIFT PLAN, ROCHESTER, MN 55905

Signing Officer

Name
Kevin Melvin
Title
Trustee
Phone
5072845261
Signed
2021-08-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Same as C above
Formed
2001
Legal Domicile
Mn
Voting Board Members
4
Independent Board Members
0
Employees
0

Preparer

Firm
Tiaa Kaspick LLC
Address
203 REDWOOD SHORES PARKWAY STE 420, Redwood Shores, CA 94065
Preparer
Kimberly G Palmer
Phone
6505854100
Raw XML Appendix365 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/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt41200125
IRS990/Form990PartVIISectionAGrp/TitleTxt0Co-Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt1Co-Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt2Co-Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt3Co-Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt4Executive Director
IRS990/Form990ProvidedToGvrnBodyInd0true
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IRS990/FSAuditedInd0false
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IRS990/GoverningBodyVotingMembersCnt04
IRS990/GrantAmt03428394
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt03428394
IRS990/GrantsToDomesticOrgsGrp/TotalAmt03428394
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0true
IRS990/GrantToRelatedPersonInd0false
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IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
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IRS990/IndependentVotingMemberCnt00
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InvestmentIncomeGrp/ExclusionAmt04695
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt04695
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IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
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IRS990/LocalChaptersInd0false
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IRS990/NetAssetsOrFundBalancesEOYAmt00
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd0false
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
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IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
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IRS990/ReconcilationRevenueExpnssAmt0-3342001
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0One of the filing organization's trustees participated in a supplemental retirement plan (SRP) maintained by Mayo Clinic and received a payment from this plan during 2020 designed to roughly approximate an extension of the benefits under the Mayo Pension Plan to income above the Internal Revenue Code qualified plan limit in section 401(a)(17). The individual listed below received a payment from the SRP. This amount is included in Schedule J, Part II, Column (B)(iii): Harry Hoffman $130,740.
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02020-09-17
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN0416011702
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt03428394
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501(c)(3)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0Cash Value
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt0200 First Street SW
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0Rochester
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0MN
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd055905
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IRS990ScheduleN/ReceiveCompensationInd0false
IRS990ScheduleN/RequiredToNotifyAGInd0true
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Valerie Herschman is the daughter of Shirley and Miles Fiterman. Valerie replaced her father's position as co-trustee, following his death in 2004.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The tax staff at TIAA Kaspick prepares the tax returns for charitable trusts, including the Miles and Shirley Fiterman Endowment, that are administered for Mayo Clinic as their client. The tax staff at Mayo Clinic provides information to be used in the preparation of the Form 990 and accompanying schedules. The 990 returns are reviewed by the tax staff at Mayo Clinic and any changes needed are discussed with TIAA Kaspick who would make any necessary changes in the final tax returns to be filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Forms 990 and 1023 are available for public inspections; however, other trust documents including governing documents and financial statements are not made available to the general public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11-DESCRIPTION OF PROCESS FOR REVIEW
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
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IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
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IRS990/TerminateOperationsInd0true
IRS990/TotalAssetsBOYAmt03342001
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt03342001
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03428394
IRS990/TotalFunctionalExpensesGrp/TotalAmt03428394
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03342001
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt033578
IRS990/TotalProgramServiceExpensesAmt03428394
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt086393
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt086393
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03342001
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotReportableCompRltdOrgAmt01200125
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationTrustInd0X
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IRS990/VotingMembersGoverningBodyCnt04
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IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KEVIN MELVIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Trustee
ReturnHeader/BusinessOfficerGrp/PhoneNum05072845261
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-08-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MILES AND SHIRLEY FITERMAN ENDOWMENT FUND
ReturnHeader/Filer/BusinessNameControlTxt0FITE
ReturnHeader/Filer/EIN0412020392
ReturnHeader/Filer/PhoneNum05072845261
ReturnHeader/Filer/USAddress/AddressLine1Txt0200 1ST ST SW - DEV OFF GIFT PLAN
ReturnHeader/Filer/USAddress/CityNm0ROCHESTER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055905
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0205631854
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0TIAA KASPICK LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0203 REDWOOD SHORES PARKWAY STE 420
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Redwood Shores
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd094065
ReturnHeader/PreparerPersonGrp/PhoneNum06505854100
ReturnHeader/PreparerPersonGrp/PreparationDt02021-08-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KIMBERLY G PALMER
ReturnHeader/ReturnTs02021-08-16T16:00:38-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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