MINNESOTA PRIVATE COLLEGE FUND

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1975

Legal Domicile

Principal Officer

PAUL D CERKVENIK

Phone

6512289061

Tax Period

2023-07-01 to 2024-06-30

MINNESOTA PRIVATE COLLEGE FUND, founded in 1975, is a community nonprofit in the Education sector that reported $1.9M in total revenue in fiscal year 2023. Expenses of $2.2M exceeded revenue, resulting in a 16% operating deficit.

Mission

THE MINNESOTA PRIVATE COLLEGE FUND SERVES THE SHARED NEEDS OF ITS MEMBERS BY SEEKING PHILANTHROPIC SUPPORT FROM CORPORATIONS, FOUNDATIONS, AND OTHERS FOR THE BENEFIT OF ITS MEMBER COLLEGES AND UNIVERSITIES AND THE STUDENTS THEY EDUCATE.

Program Service Accomplishments

Program 1

Expenses: $969,062 Revenue: $327,400

DISTRIBUTION OF FINANCIAL SUPPORT FOR THE 17 MEMBER PRIVATE COLLEGES, THEIR STUDENTS, AND FUND-OPERATED SCHOLARSHIP PROGRAMS THAT SUPPORT STUDENTS AT MEMBER PRIVATE COLLEGES. EVERY DOLLAR RAISED...

DISTRIBUTION OF FINANCIAL SUPPORT FOR THE 17 MEMBER PRIVATE COLLEGES, THEIR STUDENTS, AND FUND-OPERATED SCHOLARSHIP PROGRAMS THAT SUPPORT STUDENTS AT MEMBER PRIVATE COLLEGES. EVERY DOLLAR RAISED THROUGH FUNDRAISING GOES DIRECTLY TO (1) THE 17 MEMBER INSTITUTIONS IN THE FORM OF GENERAL OPERATING SUPPORT, AND (2) TO STUDENTS ENROLLED IN MEMBER INSTITUTIONS IN THE FORM OF SCHOLARSHIPS. EACH MEMBER INSTITUTION PAYS ANNUAL DUES TO MPCF, WHICH COVER ALL THE FUND'S GENERAL OVERHEAD, FUNDRAISING, AND ADMINISTRATIVE EXPENSES.

Program 2

Expenses: $210,273

THE INNOVATION SCHOLARS PROGRAM IS A COLLABORATIVE PROGRAM OFFERING SELECTED MULTI-DISCIPLINARY TEAMS OF STUDENTS THE OPPORTUNITY TO RESEARCH PROJECTS WITH START-UP AND EARLY-STAGE MEDICAL COMPANIES AND THE MAYO CLINIC. INNOVATION SCHOLARS PROGRAMMING EXPOSES STUDENTS TO THE AMBIGUITIES OF "REAL WORLD" INNOVATION AND ENTREPRENEURSHIP, THE ROLE OF TEAMWORK, CROSS-DISCIPLINARY COLLABORATION, IN-DEPTH RESEARCH, ANALYSIS, AND CREATIVITY. THIRTEENTH INSTITUTIONS AND 60 STUDENTS PARTICIPATED IN 2023-2024.

Program 3

Expenses: $743,034

TRAILBLAZERS OFFERS A UNIQUE TWO-YEAR LEADERSHIP PROGRAM FOR BLACK MEN AT OUR MEMBER COLLEGES. THE PROGRAM COMBINES A TWO-YEAR SCHOLARSHIP WITH COMPREHENSIVE ACADEMIC AND PROFESSIONAL ADVISING...

TRAILBLAZERS OFFERS A UNIQUE TWO-YEAR LEADERSHIP PROGRAM FOR BLACK MEN AT OUR MEMBER COLLEGES. THE PROGRAM COMBINES A TWO-YEAR SCHOLARSHIP WITH COMPREHENSIVE ACADEMIC AND PROFESSIONAL ADVISING, CULTURALLY RELEVANT MENTORING, LEADERSHIP DEVELOPMENT, FINANCIAL LITERACY PROGRAMMING, EXPERIENTIAL LEARNING, NETWORKING OPPORTUNITIES WITH BLACK PROFESSIONALS, AND CAREER PREPARATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,581,533

Program Service Revenue $324,250

Investment Income $188

Other Revenue $3,150

TOTAL REVENUE $1,909,121

Expense Breakdown

Grants Paid $969,082

Salaries & Benefits $0

Fundraising Expenses $259,656

Program Expenses $1,922,369

Other Expenses $1,248,151

TOTAL EXPENSES $2,217,233

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,909,121	$1,966,152	0.0%
Expenses	$2,217,233	$1,992,508	+0.1%
Net Income	$-308,112	$-26,356	+10.7%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$500,571

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BARBARA MCDONALD	CHAIR	3.00	Officer Director	$0	$0	$0
TIM MORIN	VICE CHAIR	1.00	Officer Director	$0	$0	$0
GENE PFEIFER	TREASURER & SECRETARY	1.00	Officer Director	$0	$0	$0
ROSS ALLEN	DIRECTOR	1.00	Director	$0	$0	$0
PAUL ANDERSON	DIRECTOR	1.00	Director	$0	$0	$0
SARINA BAKER	DIRECTOR	1.00	Director	$0	$0	$0
REBECCA BERGMAN	DIRECTOR	1.00	Director	$0	$0	$0
ALISON BROWN	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN BRUESS	DIRECTOR	1.00	Director	$0	$0	$0
REV JAMES P BURNS IVD PHD	DIRECTOR	1.00	Director	$0	$0	$0
ALISON BYERLY	DIRECTOR	1.00	Director	$0	$0	$0
KATHLEEN COONEY	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER DOLAN	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN EICH	DIRECTOR	1.00	Director	$0	$0	$0
MATT ENTENZA	DIRECTOR	1.00	Director	$0	$0	$0
MELISSA FRANZEN	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN FRIEDRICH	DIRECTOR	1.00	Director	$0	$0	$0
AJAY GUPTA	DIRECTOR	1.00	Director	$0	$0	$0
COLIN IRVINE	DIRECTOR	1.00	Director	$0	$0	$0
ANTHONY KELLEY	DIRECTOR	1.00	Director	$0	$0	$0
DAN LORITZ	DIRECTOR	1.00	Director	$0	$0	$0
FAYNEESE MILLER	DIRECTOR	1.00	Director	$0	$0	$0
GREGG PETERSON	DIRECTOR	1.00	Director	$0	$0	$0
PATRICIA PRATT COOK	DIRECTOR	1.00	Director	$0	$0	$0
PAUL PRIBBENOW	DIRECTOR	1.00	Director	$0	$0	$0
SUZANNE RIVERA	DIRECTOR	1.00	Director	$0	$0	$0
REBECCA KOENIG ROLOFF	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN RUNDELL SINGER	DIRECTOR	1.00	Director	$0	$0	$0
SANJIT SETHI	DIRECTOR	1.00	Director	$0	$0	$0
NICHOLAS VAN DEELEN	DIRECTOR	1.00	Director	$0	$0	$0
ROB VISCHER	DIRECTOR	1.00	Director	$0	$0	$0
NANCY WALLACE	DIRECTOR	1.00	Director	$0	$0	$0
DE'MON WIGGINS	DIRECTOR	1.00	Director	$0	$0	$0
PAUL D CERKVENIK	PRESIDENT AND CEO	52.00	Officer	$0	$76,359	$483,648
ERIN OMBERG	FINANCE AND OPERATIONS AND CFO	40.00	Officer	$0	$0	$16,923

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$1,909,121	$2,217,233	$2,444,110	$-308,112
2023	$1,966,152	$1,992,508	$2,945,928	$-26,356
2022	$2,274,894	$1,822,850	$2,737,886	$452,044
2021	$1,797,155	$1,599,463	$2,269,188	$197,692
2020	$1,588,501	$1,739,003	$2,248,438	$-150,502
2019	$1,875,164	$1,495,972	$2,206,447	$379,192