Civic Intelligence

Health Sciences Education Facility Corporation

990 • Fiscal year 2017 • EIN 47-4744755

Jul 01, 2016 to Jun 30, 2017 • Filed on Nov 15, 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

89th percentile

0.88x

Higher debt load relative to assets than 89% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

100th percentile

483.96x

Higher debt load relative to revenue than 100% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

1st percentile

-3702%

Higher net margin than 1% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

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.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

6th percentile

-12%

Faster asset growth than 6% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

1st percentile

-99%

Faster revenue growth than 1% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets89th percentile

Assets

Down

$17,447,146

Down $2,469,065 (-12%) from 2016

Net Assets

Down

$2,145,839

Down $1,170,372 (-35%) from 2016

Liabilities

Down

$15,301,307

Down $1,298,693 (-7.8%) from 2016

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Down

$31,617

Down $3,408,262 (-99%) from 2016

Expenses

Up

$1,201,989

Up $1,078,321 (+872%) from 2016

Net Income

Down

-$1,170,372

Down $4,486,583 (-135%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth6th percentile

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

2017

Assets$17,447,146
Liabilities$15,301,307
Net Assets$2,145,839
Open 2017 Filing

Operations Trend

Revenue Growth1st percentile

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

2017

Revenue$31,617
Expenses$1,201,989
Net Income-$1,170,372
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 15, 2017
Return Version
2016v3.0
Gross Receipts
$31,617
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$11,954,278$12,990,102▲ $1,035,824
Intangible Assets$3,678,504$3,589,569▼ $88,935
Cash and Non-Interest-Bearing Accounts$4,283,429$867,475▼ $3,415,954
Total Assets$19,916,211$17,447,146▼ $2,469,065
Liabilities
Tax Exempt Bond Liabilities$16,600,000$15,300,000▼ $1,300,000
Accounts Payable and Accrued Expenses-$1,307-
Total Liabilities$16,600,000$15,301,307▼ $1,298,693
Net Assets / Fund Balance
Unrestricted Net Assets$3,316,211$2,145,839▼ $1,170,372
Total Net Assets Fund Balance$3,316,211$2,145,839▼ $1,170,372
Total Liabilities and Net Assets / Fund Balance$19,916,211$17,447,146▼ $2,469,065

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,594,211$433,507$12,027,718
Land$892,466-$892,466
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
Robert RyanPresident
Bruce StenderBoard
Christopher DolanBoard
Colette Mccarrick GearyBoard
Sister Kathleen HoferSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$7,058
Other Revenue
$24,559
Change in Net Assets
$-1,170,372

Audited Revenue Reconciliation

Revenue per Audited Statements
$31,617
Total Revenue per Audited Statements
$31,617
Total Revenue per Form 990
$31,617
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,201,989
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
Interest-$626,376-$626,376
Depreciation Depletion$522,442--$522,442
Fees for Services Legal-$19,082-$19,082
Other Expenses-$30-$30
Total Functional Expenses$522,442$679,547$0$1,201,989

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,201,989
Total Expenses per Audited Statements$1,201,989
Total Expenses per Form 990$1,201,989
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
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
A----
B----

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
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 received 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
2017-11-15
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 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.”

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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/ChangeInUseBondFinancedPropInd1false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd1false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd1false
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IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd1true
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd1true
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdvanceRefundingInd1false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd1B
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/CurrentRefundingInd1false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd1false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr02016
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr12016
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0COLLEGE OF ST SCHOLASTICA
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0LANDLORD/TENANT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
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
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 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH DIRECTOR RECEIVED 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/BOYAmt016600000
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt015300000
IRS990/TaxExemptBondsInd0true
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt019916211
IRS990/TotalAssetsEOYAmt017447146
IRS990/TotalAssetsGrp/BOYAmt019916211
IRS990/TotalAssetsGrp/EOYAmt017447146
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IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0679547
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0522442
IRS990/TotalFunctionalExpensesGrp/TotalAmt01201989
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt016600000
IRS990/TotalLiabilitiesEOYAmt015301307
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IRS990/TotalLiabilitiesGrp/EOYAmt015301307
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03316211
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02145839
IRS990/TotalProgramServiceExpensesAmt0522442
IRS990/TotalRevenueGrp/ExclusionAmt07058
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt024559
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt031617
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt019916211
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt017447146
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt03316211
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02145839
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/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ROBERT RYAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-15
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/FilingSecurityInformation/AtSubmissionCreationDeviceId0E74612C03A80587096DC8DF1C345BB3C1DA496A2
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId031A2F0BA89DF23E0A072414C008B1005B4D7D234
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/PreparationDt02017-12-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN S LICARI
ReturnHeader/ReturnTs02018-01-09T10:33:30-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$17,447,146
Liabilities
$15,301,307
Net assets
$2,145,839
Revenue
$31,617
Expenses
$1,201,989
Net income
-$1,170,372
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