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Minnesota Higher Education Facilities Authority
Investor Relations
Barry W. Fick, Executive Director
About
Learn about Minnesota Higher Education Facilities Authority, including Featured News, Borrowers, and The Team.
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- Founded in
- 1971
- Bonds Outstanding as of 6/30/2019
- $983.6 million
- Series of Bonds Outstanding as of 6/30/2019
- 234
About Minnesota Higher Education Facilities Authority
The Minnesota Higher Education Facilities Authority (the “Authority”) was formed by the Minnesota Legislature in 1971. The purpose of the Authority is to assist Minnesota based institutions of higher education in the construction, financing and refinancing of capital projects. The legislation authorizing the Authority establishes and affirms that the Authority’s authorized power is an essential public function. The Authority is also authorized and empowered to do all things necessary or helpful to carry out its statutory purpose.
The Authority may have up to $1.3 billion of bonds or notes outstanding at any time. The Authority receives no state funding of any kind. It does not have any taxing power and does not receive any allocation of tax receipts from the state of Minnesota. Authority operations are funded 100% from fees charged to borrowers and investment earnings.
Featured News
October 14, 2020
News
MHEFA Requests Responses to Municipal Advisor Request For Proposal
The Minnesota Higher Education Facilities Authority (“MHEFA”) is requesting your consideration of providing a response to this Request for Qualifications / Request for Proposal (“RFP”) to provide Municipal Advisor services to the Authority.
Please follow the link below to download the RFP form.
March 31, 2020
News
January 2, 2020
Press Release
January 2, 2020 Press Release
FOR IMMEDIATE RELEASE: January 2, 2020
The Minnesota Higher Education Facilities Authority (the “Authority”) is pleased to announce that Barry W. Fick, its Executive Director, has been appointed to two national public finance organization committees. Executive Director Fick has been appointed to a 3-year term on the Committee on Governmental Debt and Fiscal Policy of the Government Finance Officers Association (GFOA). The GFOA Committee on Governmental Debt and Fiscal Policy promotes sound financial practices for local and state governments. The Committee works on best practices, actively engages with participants in the market to help develop guidelines and updates for its members and monitors legislative and regulatory activities that impact the ability of state and local governments to borrow in a cost-effective manner. He has also been appointed to the Compliance Advisory Group (CAG) of the Municipal Securities Rulemaking Board (MSRB). “The MSRB’s advisory groups provide the organization with another touch-point to the industry and further insight into the municipal securities market,” said Interim Chief Executive Officer and Chief Financial Officer and Treasurer Nanette D. Lawson. “We greatly value the contributions of the professionals who volunteer to serve on our advisory groups.” The CAG provides feedback on compliance resources, tools and educational materials to enhance dealers’ and municipal advisors’ understanding of MSRB rules and to assist their efforts in developing effective supervisory and compliance programs. The Authority is an agency of the State of Minnesota. Created in 1971, the Authority assists non-profit higher education institutions in the State of Minnesota with low-cost financing or refinancing capital projects for the benefit of their students, helping lower the cost of higher education.
Borrowers
Augsburg University
Augsburg University offers more than 50 undergraduate majors and 11 graduate degrees to nearly 3,400 students of diverse backgrounds at its campus in the vibrant center of the Twin Cities and a location in Rochester. Augsburg educates students to be informed citizens, thoughtful stewards, critical thinkers, and responsible leaders. An Augsburg education is defined by excellence in the liberal arts and professional studies, guided by the faith and values of the Lutheran church, and shaped by its urban and global settings.
2015 Augsburg College Financial Statement
2016 Augsburg College Financial Statement
2017 Augsburg College Financial Statement
2018 Augsburg University Financial Statement
2019 Augsburg University Financial Statement
2020 Augsburg University Financial Statement
2018 Augsburg University Form 990 available in the Documents Section
Bethel University
Bethel University is a leader in Christ-centered higher education with about 4,500 students from 47 states and 22 countries enrolled in undergraduate, graduate, seminary, and adult undergraduate programs. Based in St. Paul, Minnesota, Bethel offers bachelor’s and advanced degrees in more than 100 fields through classroom-based and online programs. The university equips graduates for excellence in leadership, scholarship, and service as they strive to live out biblical truth.
2015 Bethel University Financial Statement
2016 Bethel University Financial Statement
2017 Bethel University Financial Statement
2018 Bethel University Financial Statement
2019 Bethel University Financial Statement
2018 Bethel University Form 990 available in the Documents Section
Carleton College
Founded in 1866, Carleton College is a private, coeducational liberal arts college of 2,000 students located in the historic river town of Northfield, Minnesota. Nationally recognized as the nation’s top college for undergraduate teaching, Carleton is known for its academic rigor, intellectual curiosity, and sense of humor. Carleton offers 33 majors and 37 minors in the arts, humanities, natural sciences, mathematics, and social sciences.
2015 Carleton College Financial Statement
2016 Carleton College Financial Statement
2017 Carleton College Financial Statement
2018 Carleton College Financial Statement
2019 Carleton College Financial Statement
2018 Carleton College Form 990 available in the Documents Section
College of Saint Benedict
The mission of the College of Saint Benedict is to provide for women the best residential liberal arts education in the Catholic and Benedictine traditions. The College fosters integrated learning, exceptional leadership for change and wisdom for a lifetime. CSB is one of the top 100 liberal arts colleges in the country and ranked number one among liberal arts colleges for operating efficiency, as cited by U.S. News & World Report. We are a top-40 Fulbright producing school and the only Catholic, Benedictine college for women in the country.
2015 College of Saint Benedict Financial Statement
2016 College of Saint Benedict Financial Statement
2017 College of Saint Benedict Financial Statement
2018 College of Saint Benedict Financial Statement
2019 College of Saint Benedict Financial Statement
2017 College of Saint Benedict Form 990 available in the Documents Section
The Team
