2025-09-25T10:39:25-05:00 2025-06-30 411535741 CASEY MENDEN FAUST & NELSON PA 7900 WEST 78TH STREET SUITE 450 EDINA MN 554392586 990 2024-07-01 411410445 INVER HILLS COMMUNITY COLLEGE FOUNDATION INVE 6514503512 2500 80TH STREET EAST INVER GROVE HEIGHTS MN 55076 KIMBERLY SHAFF FOUNDATION EXECUTIVE DIRECTOR 6514503512 2025-09-25 0 0 SCOTT M CALLAHAN P00871234 9529467900 2025-09-18 2024 2025-03-06 01:10:19Z KIMBERLY SHAFF 506050 0 X WWW.INVERHILLS.EDU/ABOUT/FOUNDATION X 1978 MN CULTIVATE RESOURCES TO HELP STUDENTS START THEIR JOURNEY, STAY THE COURSE, AND SUCCEED IN LIFE. 11 11 0 5 0 0 318675 264587 0 0 127516 241463 0 0 446191 506050 325468 326914 0 0 0 0 0 0 9889 37296 37895 362764 364809 83427 141241 3678509 3817599 16340 14189 3662169 3803410 X THE INVER HILLS COMMUNITY COLLEGE FOUNDATION PROMOTES INVER HILLS COMMUNITY COLLEGE BY BUILDING PARTNERSHIPS WITH AREA HIGH SCHOOLS, BUSINESSES, COMMUNITY ORGANIZATIONS AND GOVERNMENT AGENCIES. WE BUILD CAPACITY BY SECURING FINANCIAL AND OTHER RESOURCES THAT FURTHER THE MISSION OF THE COLLEGE. WE ASSIST STUDENTS, FACULTY AND STAFF SEEKING EDUCATIONAL EXCELLENCE. 0 0 336600 326914 506050 SCHOLARSHIP AND PROGRAMMATIC SUPPORT: DURING THE YEAR THE FOUNDATION FUNDED SCHOLARSHIPS, EMERGENCY GRANTS, AND MANY PROGRAMMATIC AREAS FOR GENERAL EDUCATION FOR THE TRANSFER PURPOSES AND SPECIFIC ACADEMIC AREAS. THE SCHOLARSHIP CRITERIA SUPPORT DIFFERENT GOALS. SOME ARE USED TO ENCOURAGE STUDENTS TO PURSUE CERTAIN COURSES OF STUDY WHILE OTHERS ARE INTENDED TO PROVIDE AN INCENTIVE FOR STUDENTS TO PERSIST IN PURSUIT OF ACCOMPLISHING THEIR EDUCATIONAL GOALS. SCHOLARSHIPS ARE AWARDED ON THE BASIS OF ACADEMIC MERIT, CAREER GOALS, RECOMMENDATIONS, AND FINANCIAL NEEDS. PROGRAMMATIC FUNDS ARE USED TO SUPPORT NEEDS WITHIN THE COLLEGE TO FURTHER EDUCATIONAL OPPORTUNITIES. 336600 1 1 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MN X KIMBERLY SHAFF 6514503512 2500 80TH STREET EAST INVER GROVE HEIGHTS MN 55076 SUSAN LONG CHAIR 1.00 X X 0 0 0 SCOTT ARMITAGE VICE CHAIR 1.00 X X 0 0 0 AARON LUNDQUIST FINANCE COMMITTEE CHAIR 1.00 X X 0 0 0 GERRY THOMAS TREASURER 1.00 X X 0 0 0 PEGGY JOHNSON DEVELOPMENT COMMITTEE CHAIR 1.00 X 0 0 0 GRETA BJERKNESS DIRECTOR 1.00 X 0 0 0 ZAHNIA HARUT DIRECTOR 1.00 X 0 0 0 ANDREW HOFFMAN DIRECTOR 1.00 X 0 0 0 JAKE SEDLACEK DIRECTOR 1.00 X 0 0 0 MICHAEL BERNDT EX-OFFICIO 1.00 X 0 0 0 ELAINA BLEIFIELD EX-OFFICIO 1.00 X 0 0 0 KIMBERLY SHAFF EXECUTIVE DIRECTOR 20.00 X 0 101184 0 0 101184 0 0 0 0 0 0 264587 264587 241463 241463 506050 0 0 241463 4820 4820 322094 322094 26 26 3206 3206 256 256 26209 5782 10538 9889 249 249 1308 1308 1925 1925 EQUIPMENT 2932 2932 CAMPUS EVENTS 972 972 MEALS AND ENTERTAINMENT 812 812 364809 336600 18320 9889 35036 143661 1056033 1011000 12075 2573825 2662938 1540 3678509 3817599 16340 14189 16340 14189 X 892982 919557 2769187 2883853 3662169 3803410 3678509 3817599 141241 0 X 0 1 X 1 0 X 306277 183089 341918 318675 264587 1414546 166889 154752 160282 141756 168894 792573 473166 337841 502200 460431 433481 2207119 24699 2182420 47689 28732 112532 127516 241463 557932 2765051 0.78930 0.73990 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2573825 201254 104292 7849 2662938 2465840 28489 176708 90407 6805 2573825 2506001 24874 49948 106934 8049 2465840 2726698 9452 -167550 42950 19649 2506001 2233134 25000 538289 52235 17490 2726698 0.19316 0.67250 0.13434 1 0 0 BENEFICIAL INTEREST IN ASSETS HELD BY OTHERS 2662938 F 2662938 X 674944 168894 168894 506050 0 506050 533703 168894 168894 364809 0 364809 PART V, LINE 4: THE EARNINGS GENERATED BY THE ENDOWMENT FUNDS ARE INTENDED TO FUND VARIOUS TYPES OF SCHOLARSHIPS FOR THE STUDENTS OF INVER HILLS COMMUNITY COLLEGE AND OTHER EDUCATIONAL INSTITUTIONS. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM INCOME TAXES AS A PUBLIC CHARITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE STATUES. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE FOUNDATION AND RECOGNIZE A TAX LIABILITY IF THE FOUNDATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT EVALUATED THE FOUNDATION'S TAX POSITIONS AND CONCLUDED THAT THE FOUNDATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. 1 SCHOLARSHIPS TO STUDENTS 388 281674 EMERGENCY GRANT ASSISTANCE TO STUDENTS 29 38468 PROGRAM SUPPORT 6772 PART I, LINE 2: GRANTS TO THE COLLEGE ARE MONITORED THROUGH PERIODIC FINANCIAL REPORTS PREPARED INTERNALLY AND BY THE SUBMISSION OF FORMAL REPORTS TO DONOR ORGANIZATIONS. THE AWARDING OF EMERGENCY GRANTS IS MONITORED THROUGH A FORMAL ON-LINE APPLICATION WHICH IS APPROVED BY COLLEGE COUNSELING STAFF. IN THE CASE OF SCHOLARSHIPS, STUDENTS MUST COMPLETE A FORMAL APPLICATION FROM WHICH IS REVIEWED BY THE SCHOOL'S SCHOLARSHIP COMMITTEE. DURING THE SCHOOL YEAR, RECIPIENTS ARE RECOGNIZED AT A FORMAL CEREMONY. TUITION MATCH MN IS MONITORED BY THE PROGRAM MANAGER WHICH IS ABLE TO ENROLL THE NUMBER OF STUDENTS THAT ARE COVERED BY PRIVATE FUNDS. THE NAMES OF THE STUDENTS AND THE AMOUNTS GRANTED ARE TRACKED. FORM 990, PART VI, SECTION A, LINE 1A THE DEVELOPMENT COMMITTEE HAS THE RESPONSIBILITY TO ASSIST IN RAISING NON-GRANT FUNDS TO SUPPORT THE ORGANIZATION'S MISSION. THEY ARE RESPONSIBLE FOR: DEVELOPING A REALISTIC FUNDRAISING PLAN ALONGSIDE THE EXECUTIVE DIRECTOR AND DEVELOPING RELATIONSHIPS AND FOSTERING A POSITIVE IMAGE OF THE ORGANIZATION WITHIN THE COMMUNITY. FORM 990, PART VI, SECTION B, LINE 11B THE FOUNDATION'S BOARD REVIEWS THE FORM 990 PRIOR TO IT BEING SIGNED AND FILED YEARLY. FORM 990, PART VI, SECTION B, LINE 12C EACH BOARD MEMBER IS REQUIRED TO COMPLETE A CONFLICT OF INTEREST POLICY ANNUAL STATEMENT. THESE STATEMENTS ARE REVIEWED BY THE FOUNDATION'S EXECUTIVE DIRECTOR AND ANY POSSIBLE CONFLICTS ARE DISCUSSED WITH THE BOARD CHAIR. THE POLICY COVERS THE PROCESS TO ADDRESS ANY CONFLICTS OF INTEREST IDENTIFIED AND THE PROCESS TO DEAL WITH ANY VIOLATIONS OF THE POLICY. THE POLICY IS MONITORED BY ALL FOUNDATION STAFF AND BOARD MEMBERS. IF THERE IS A VOTE BEFORE THE BOARD AND A VOTING MEMBER HAS A CONFLICT OF INTEREST REGARDING THE OUTCOME OF THE VOTE, THEY WILL RECUSE THEMSELVES FOR THE VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTOR IS EMPLOYED AND PAID BY THE INVER HILLS COMMUNITY COLLEGE. THE EXECUTIVE DIRECTOR'S COMPENSATION IS DETERMINED ACCORDING TO THE PERSONNEL PRACTICES OF INVER HILLS COMMUNITY COLLEGE AND THE MINNESOTA STATE COLLEGES AND UNIVERSITIES SYSTEM. NO OTHER OFFICERS OR KEY EMPLOYEES RECEIVE COMPENSATION FROM THE FOUNDATION. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. MN STATE COLLEGES & UNIVERSITIESINVER HILLS COMMUNITY COLLEGE 2500 E 80TH ST INVER GROVE HEIGHTS MN 55076 411687554 EDUCATION MN N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 INVER HILLS COMMUNITY COLLEGE B 320142 CASH & FMV INVER HILLS COMMUNITY COLLEGE O 144972 CASH & FMV INVER HILLS COMMUNITY COLLEGE N 23922 CASH & FMV