Civic Intelligence

Health Sciences Education Facility Corporation

990 • Fiscal year 2016 • EIN 47-4744755

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 01, 2017

Organization Profile
130 W Superior Street 1000Duluth, MN 55802

(218) 722-2226

Siviq Scores

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

Liabilities / Assets

87th percentile

0.83x

Higher debt load relative to assets than 87% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

94th percentile

4.83x

Higher debt load relative to revenue than 94% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

99th percentile

96%

Higher net margin than 99% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

Score unavailable

No value available

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

Source year 2016

Revenue Growth

Score unavailable

No value available

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

Source year 2016

Balance Sheet
Liabilities / Assets87th percentile

Assets

$19,916,211

No earlier filing loaded for comparison.

Net Assets

$3,316,211

No earlier filing loaded for comparison.

Liabilities

$16,600,000

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin99th percentile

Revenue

$3,439,879

No earlier filing loaded for comparison.

Expenses

$123,668

No earlier filing loaded for comparison.

Net Income

$3,316,211

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$20M$15M$10M$5.0M$0Assets 2016: $19,916,211Liabilities 2016: $16,600,000Net Assets 2016: $3,316,2112016Assets 2017: $17,447,146Liabilities 2017: $15,301,307Net Assets 2017: $2,145,8392017Assets 2018: $16,743,788Liabilities 2018: $15,041,013Net Assets 2018: $1,702,7752018Assets 2019: $16,226,562Liabilities 2019: $14,642,618Net Assets 2019: $1,583,9442019

Highlighted filing

2016

Assets$19,916,211
Liabilities$16,600,000
Net Assets$3,316,211
Open 2016 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$4.0M$2.0M$0-$2.0MRevenue 2016: $3,439,879Expenses 2016: $123,668Net Income 2016: $3,316,2112016Revenue 2017: $31,617Expenses 2017: $1,201,989Net Income 2017: -$1,170,3722017Revenue 2018: $766,685Expenses 2018: $1,209,749Net Income 2018: -$443,0642018Revenue 2019: $1,026,066Expenses 2019: $1,144,897Net Income 2019: -$118,8312019

Highlighted filing

2016

Revenue$3,439,879
Expenses$123,668
Net Income$3,316,211
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 1, 2017
Return Version
2015v3.0
Gross Receipts
$3,439,879
Mission and Program Overview

Mission

The corporation was organized for charitable and educational purposes within the definitions in the internal reevenue code to operate exclusively for the benefit of and to carry out the purposes of the college of st. Scholastica and the educational purposes of the benedictine sisters benevolent association. The corporation will develop facilities for the use in health sciences education programs for use by the college of st. Scholastica.

The corporation was organized for charitable and educational purposes within the definitions in the internal reevenue code to operate exclusively for the benefit of and to carry ou the pruposes of the college of st. Scholastica and the educational purposes of the benedictine sisters benevolent association. The corporation will develop facilities for the use in health sciences education programs for use by the college of st. Scholastica.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net-$11,954,278-
Cash and Non-Interest-Bearing Accounts-$4,283,429-
Intangible Assets-$3,678,504-
Total Assets$0$19,916,211▲ $19,916,211
Liabilities
Tax Exempt Bond Liabilities-$16,600,000-
Total Liabilities$0$16,600,000▲ $16,600,000
Net Assets / Fund Balance
Unrestricted Net Assets-$3,316,211-
Total Net Assets Fund Balance$0$3,316,211▲ $3,316,211
Total Liabilities and Net Assets / Fund Balance$0$19,916,211▲ $19,916,211

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$10,935,410-$10,935,410
Land$856,173-$856,173
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
Robert RyanPresident
Bruce StenderBoard
Larry GoodwinBoard
Mary IvesBoard
Sister Kathleen HoferSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$3,427,830
Program Service Revenue
$0
Investment Income
$12,049
Other Revenue
$0
All Other Contributions
$3,427,830
Change in Net Assets
$3,316,211

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Other1$2,315,503Rights to Land Use
Total Noncash Contributions1$2,315,503-

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,439,879
Total Revenue per Audited Statements
$3,439,879
Total Revenue per Form 990
$3,439,879
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$123,668
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal-$75,041-$75,041
Depreciation Depletion$26,925--$26,925
Fees for Services Accounting-$11,720-$11,720
Insurance-$9,942-$9,942
Other Expenses-$40-$40
Total Functional Expenses$26,925$96,743$0$123,668

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$123,668
Total Expenses per Audited Statements$123,668
Total Expenses per Form 990$123,668
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Landlord/tenantRights to Land UseNo$2,315,503
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
BDuluth Economic Development Authori2015-08-17$10,000,000Construction of building for lease
ADuluth Economic Development Authori2016-05-05$6,600,000Construction of building for lease to college of st. Scholastica

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$10,000,000--$200,000
A$6,600,000--$132,000

Bond Financing Compliance

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

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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 11B

“Each director recevied and reviewed the 990 before filing.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Health Sciences Education Facility
EIN
47-4744755
Address
130 W SUPERIOR STREET 1000, DULUTH, MN 55802

Signing Officer

Name
Robert Ryan
Title
President
Signed
2017-02-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Ryan
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Licari Larsen and Company
Address
130 W SUPERIOR ST STE 712, DULUTH, MN 55802
Preparer
Steven S Licari
Phone
2187222226
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The corporation was organized for charitable and educational purposes within the definitions in the internal reevenue code to operate exclusively for the benefit of and to carry ou the pruposes of the college of st. Scholastica and the educational purposes of the benedictine sisters benevolent association. The corporation will develop facilities for the use in health sciences education programs for use by the college of st. Scholastica.”

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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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IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd0true
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd1true
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd0true
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd1true
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdvanceRefundingInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdvanceRefundingInd1false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd1B
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt06003085
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt18975180
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalizedInterestAmt0464915
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalizedInterestAmt1824820
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CurrentRefundingInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CurrentRefundingInd1false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd1false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0132000
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt1200000
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr02016
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr12016
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt06600000
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt110000000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0COLLEGE OF ST SCHOLASTICA
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0LANDLORD/TENANT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt02315503
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0RIGHTS TO LAND USE
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0COLLEGE OF ST. SCHOLASTICA (CSS) HAS DONATED THE RIGHTS TO LAND USE IN THE AMOUNT OF 2,315,503 TO THE ORGANIZATION. CSS IS A TENANT IN THE BUILDING OWNED BY THE ORGANIZATION. LARRY GOODWIN AND MARY IVES, REPRESENTATIVES OF CSS, ARE ON THE BOARD OF THE ORGANIZATION. SUBSEQUENTLY, THEY HAVE BEEN REPLACED BY CSS REPRESENTATIVES COLETTE GEARY AND CHRIS DOLAN.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/RealEstateOtherGrp/ContributionCnt01
IRS990ScheduleM/RealEstateOtherGrp/MethodOfDeterminingRevenuesTxt0RIGHTS TO LAND USE
IRS990ScheduleM/RealEstateOtherGrp/NonCashCheckboxInd0X
IRS990ScheduleM/RealEstateOtherGrp/NoncashContributionsRptF990Amt02315503
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION WAS ORGANIZED FOR CHARITABLE AND EDUCATIONAL PURPOSES WITHIN THE DEFINITIONS IN THE INTERNAL REEVENUE CODE TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF AND TO CARRY OU THE PRUPOSES OF THE COLLEGE OF ST. SCHOLASTICA AND THE EDUCATIONAL PURPOSES OF THE BENEDICTINE SISTERS BENEVOLENT ASSOCIATION. THE CORPORATION WILL DEVELOP FACILITIES FOR THE USE IN HEALTH SCIENCES EDUCATION PROGRAMS FOR USE BY THE COLLEGE OF ST. SCHOLASTICA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH DIRECTOR RECEVIED AND REVIEWED THE 990 BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt016600000
IRS990/TaxExemptBondsInd0true
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsEOYAmt019916211
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt019916211
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt03427830
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt096743
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt026925
IRS990/TotalFunctionalExpensesGrp/TotalAmt0123668
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt016600000
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt016600000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03316211
IRS990/TotalProgramServiceExpensesAmt026925
IRS990/TotalRevenueGrp/ExclusionAmt012049
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03439879
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt019916211
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/EOYAmt03316211
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0130 W SUPERIOR STREET 1000
IRS990/USAddress/CityNm0DULUTH
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055802
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ROBERT RYAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HEALTH SCIENCES EDUCATION FACILITY
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0HEAL
ReturnHeader/Filer/EIN0474744755
ReturnHeader/Filer/USAddress/AddressLine1Txt0130 W SUPERIOR STREET 1000
ReturnHeader/Filer/USAddress/CityNm0DULUTH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055802
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411806729
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LICARI LARSEN AND COMPANY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0130 W SUPERIOR ST STE 712
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DULUTH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055802
ReturnHeader/PreparerPersonGrp/PhoneNum02187222226
ReturnHeader/PreparerPersonGrp/PreparationDt02017-04-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN S LICARI
ReturnHeader/ReturnTs02017-05-11T06:09:35-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$19,916,211
Liabilities
$16,600,000
Net assets
$3,316,211
Revenue
$3,439,879
Expenses
$123,668
Net income
$3,316,211
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2019Detailed filing. Detailed filing data is available for this year.$16.2$14.6$1.58$1.03$1.14$0.12
2018Detailed filing. Detailed filing data is available for this year.$16.7$15.0$1.70$0.77$1.21$0.44
2017Detailed filing. Detailed filing data is available for this year.$17.4$15.3$2.15$0.03$1.20$1.17
2016Detailed filing. Detailed filing data is available for this year.$19.9$16.6$3.32$3.44$0.12$3.32