Civic Intelligence

Partnership Academy Inc

990 • Fiscal year 2019 • EIN 01-0701608

Jul 01, 2018 to Jun 30, 2019 • Filed on Mar 10, 2020

6500 Nicollet Avenue No 101Minneapolis, MN 55423

(612) 866-3630

Siviq Scores

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

Liabilities / Assets

97th percentile

1.48x

Higher debt load relative to assets than 97% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

85th percentile

1.38x

Higher debt load relative to revenue than 85% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

71st percentile

13%

Higher net margin than 71% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

60th percentile

$145,760

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

6th percentile

-15%

Faster asset growth than 6% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

54th percentile

5.3%

Faster revenue growth than 54% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Down

$5,733,196

Down $982,039 (-15%) from 2018

Net Assets

Up

-$2,746,128

Up $803,417 (+23%) from 2018

Liabilities

Down

$8,479,324

Down $1,785,456 (-17%) from 2018

Revenue

Up

$6,161,303

Up $311,068 (+5.3%) from 2018

Expenses

Down

$5,357,886

Down $1,415,399 (-21%) from 2018

Net Income

Up

$803,417

Up $1,726,467 (+187%) from 2018

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0-$5.0MAssets 2011: $1,155,777Liabilities 2011: $670,471Net Assets 2011: $485,3062011Assets 2012: $1,430,403Liabilities 2012: $942,390Net Assets 2012: $488,0132012Assets 2013: $939,695Liabilities 2013: $357,199Net Assets 2013: $582,4962013Assets 2014: $1,079,099Liabilities 2014: $487,976Net Assets 2014: $591,1232014Assets 2015: $1,423,418Liabilities 2015: $3,297,243Net Assets 2015: -$1,873,8252015Assets 2016: $1,794,027Liabilities 2016: $3,409,697Net Assets 2016: -$1,615,6702016Assets 2017: $6,947,458Liabilities 2017: $9,573,953Net Assets 2017: -$2,626,4952017Assets 2018: $6,715,235Liabilities 2018: $10,264,780Net Assets 2018: -$3,549,5452018Assets 2019: $5,733,196Liabilities 2019: $8,479,324Net Assets 2019: -$2,746,1282019Assets 2020: $5,069,662Liabilities 2020: $8,457,102Net Assets 2020: -$3,387,4402020Assets 2021: $6,883,815Liabilities 2021: $10,479,051Net Assets 2021: -$3,595,2362021Assets 2022: $7,413,383Liabilities 2022: $10,957,313Net Assets 2022: -$3,543,9302022Assets 2023: $8,448,404Liabilities 2023: $10,386,257Net Assets 2023: -$1,937,8532023Assets 2024: $7,027,105Liabilities 2024: $9,487,212Net Assets 2024: -$2,460,1072024

Highlighted filing

2019

Assets$5,733,196
Liabilities$8,479,324
Net Assets-$2,746,128

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2011: $3,391,5072011Expenses 2012: $3,434,3912012Revenue 2013: $3,909,374Expenses 2013: $3,916,287Net Income 2013: -$6,9132013Revenue 2014: $4,747,986Expenses 2014: $4,739,359Net Income 2014: $8,6272014Revenue 2015: $4,893,313Expenses 2015: $4,823,323Net Income 2015: $69,9902015Revenue 2016: $5,212,698Expenses 2016: $4,954,543Net Income 2016: $258,1552016Revenue 2017: $5,917,794Expenses 2017: $6,928,619Net Income 2017: -$1,010,8252017Revenue 2018: $5,850,235Expenses 2018: $6,773,285Net Income 2018: -$923,0502018Revenue 2019: $6,161,303Expenses 2019: $5,357,886Net Income 2019: $803,4172019Revenue 2020: $7,746,728Expenses 2020: $8,388,040Net Income 2020: -$641,3122020Revenue 2021: $9,146,310Expenses 2021: $8,757,691Net Income 2021: $388,6192021Revenue 2022: $11,186,536Expenses 2022: $10,993,641Net Income 2022: $192,8952022Revenue 2023: $11,125,353Expenses 2023: $11,405,452Net Income 2023: -$280,0992023Revenue 2024: $12,057,351Expenses 2024: $11,981,488Net Income 2024: $75,8632024

Highlighted filing

2019

Revenue$6,161,303
Expenses$5,357,886
Net Income$803,417
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Mar 10, 2020
Return Version
2018v3.1
Gross Receipts
$6,224,910
Mission and Program Overview

Mission

Partnership academy provides exceptional learning opportunities for students in grades k-5 who live in richfield and the neighboring communities of bloomington and south minneapolis. Students of partnership academy benefit from data-driven instruction, a well-developed english learner program, high-interest specials classes, social skills development, and an extended day program.

Create learning experiences and partnerships empowering students to achieve their greatest potential.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$1,122,910$1,302,461▲ $179,551
Cash and Non-Interest-Bearing Accounts$129,037$448,961▲ $319,924
Land, Buildings, and Equipment, Net$104,156$118,035▲ $13,879
Pd in Cap Srpls Land Bldg Eqp Fund$104,156$118,035▲ $13,879
Receivable From Disqualified Prsn$145,800$72,763▼ $73,037
Prepaid Expenses and Deferred Charges$9,859$34,969▲ $25,110
Accounts Receivable$34,917$28,658▼ $6,259
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$-3,653,701$-2,864,163▲ $789,538
Total Assets$6,715,235$5,733,196▼ $982,039
Other Assets Total$5,168,556$3,727,349▼ $1,441,207
Liabilities
Other Liabilities$9,681,256$7,463,271▼ $2,217,985
Accounts Payable and Accrued Expenses$476,111$940,619▲ $464,508
Mortgage Notes Payable Secured by Investment Property$107,413$75,434▼ $31,979
Total Liabilities$10,264,780$8,479,324▼ $1,785,456
Net Assets / Fund Balance
Total Net Assets Fund Balance$-3,549,545$-2,746,128▲ $803,417
Total Liabilities and Net Assets / Fund Balance$6,715,235$5,733,196▼ $982,039

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$117,703$105,879$223,582
Leasehold Improvements$332$12,064$12,396
Other Assets Org$3,727,349--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lisa HendricksExec. Director/principalFT$134,991$10,769$145,760
Jessica ArnoldiSecretary/teacherFT$47,758$8,118$55,876

Board Members and Trustees

NameTitle
Teresa BechtoldPresident
Frannie BecquerVice President
Martin LunaParent
Nancy RomeroParent
Robbie BurkhartTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Monarch Bus Service INCTransportation101 EAST 10TH STREET SUITE 300, Hastings, MN 55033$261,856
Ckc Good FoodsSchool MealsPO BOX 431419, Minneapolis, MN 55443$250,826
Revenue and Support

Revenue Composition

Contributions and Grants
$6,067,129
Program Service Revenue
$97,857
Investment Income
$-48,633
Other Revenue
$44,950
All Other Contributions
$135,589
Change in Net Assets
$803,417
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,328,441
Other Expenses$1,029,445
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,039,450$250,265-$3,289,715
Occupancy$529,550$38,093-$567,643
Fees for Services Other$270,733$128,646-$399,379
Pension Plan Contributions$286,051$30,794-$316,845
Other Employee Benefits$236,877$42,016-$278,893
Payroll Taxes$231,728$23,723-$255,451
Current Officers, Directors, Trustees, and Key Employees$111,074$76,463-$187,537
Office Expenses$71,620$38,548-$110,168
Fees for Services Accounting-$40,555-$40,555
Insurance$23,463--$23,463
All Other Expenses$15,500$7,482-$22,982
Depreciation Depletion$16,975$5,297-$22,272
Information Technology-$14,329-$14,329
Conferences and Meetings$11,202$510-$11,712
Travel$11,097--$11,097
Advertising-$7,311-$7,311
Fees for Services Legal-$6,275-$6,275
Interest$3,434--$3,434
Other Expenses$-877,060$-78,462-$-955,522
Total Functional Expenses$4,726,041$631,845$0$5,357,886
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$11,157
Fundraising Direct Expenses$2,456
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons$145,800$72,763▼ $73,037
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Inflows of Resources Related to Pensions$4,238,894
Net Pension Liability - Long Term$3,224,377
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 1

The school's executive committee consists of two or more directors and has the authority to oversee the business and affairs of the school between meetings of the board of directors. The executive committee reports to the board of directors at the next board meeting concerning actions taken by the executive committee, with such actions subject to ratification by the full board of directors at such meeting.

Form 990, Part VI, Section A, Line 6

The school's members include individuals currently employed at the school and the parent(s)/guardian(s) of an enrolled student.

Form 990, Part VI, Section A, Line 7A

The members elect the board of directors at the annual meeting.

Form 990, Part VI, Section A, Line 7B

Amendments to the school's governing documents must be approved by a majority vote of the membership.

Form 990, Part VI, Section B, Line 11B

The finance committee of the board reviews the form 990 which is then brought to the full board for approval and signature. The presentation and approval of the form 990 is documented in the meeting minutes.

Form 990, Part VI, Section B, Line 12C

Board members will annually disclose their involvements with other organizations with vendors, or any associations, which might be or might reasonably be seen as being a conflict when the board is to decide upon an issue, about which a board member has an unavoidable conflict of interest, that board member shall absent herself or himself without comment from not only the vote, but also from the deliberation. Board members will not use their board position to obtain employment in the school for themselves, family members or close associates. Proceedings related to conflicts of interest are documented in the meeting minutes.

Form 990, Part VI, Section B, Line 15A

The executive director's salary is based on the market (other schools and nonprofits) analysis, budget factors, and performance reviews. The executive director's compensation is reviewed and approved by the board of directors. The school's other officers and teachers' salaries are based on the market (other schools and nonprofits) analysis, budget factors and performance reviews. The school's other officers and teachers' salaries are approved by the board through the budget approval process each spring. When individual salaries of the executive director or board members are discussed, they recuse themselves from the discussion and decision. These processes were last performed during fiscal year 18.

Form 990, Part VI, Section C, Line 19

The school's governing documents, conflict of interest policy and financial statements are made available to the public through the website and upon request.

Filing and Contact Details

Filer

Filer Name
Partnership Academy Inc
EIN
01-0701608
Phone
6128663630
Address
6500 NICOLLET AVENUE NO 101, MINNEAPOLIS, MN 55423

Signing Officer

Name
Lisa Hendricks
Title
Executive Director & Principal
Phone
6128663630
Signed
2020-03-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lisa Hendricks
Formed
2002
Legal Domicile
Mn
Voting Board Members
6
Independent Board Members
5
Employees
74
Volunteers
2

Preparer

Firm
Redpath and Company Ltd
Address
4810 WHITE BEAR PARKWAY, WHITE BEAR LAKE, MN 55110
Preparer
Ashley C Rehn CPA
Phone
6514267000
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

A tax expense or benefit from an uncertain income tax position (including tax-exempt status) may be recognized only when it is more likely than not that the position will be sustained upon examination by taxing authorities. Management believes the school and paa have no uncertain income tax positions that would result in an accrual, expense or benefit under the more likely than not standard.

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IRS990/LandBldgEquipAccumDeprecAmt0117943
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0104156
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0118035
IRS990/LandBldgEquipCostOrOtherBssAmt0235978
IRS990/LegalDomicileStateCd0MN
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt061151
IRS990/LoanOutstandingInd01
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MiscellaneousRevenueGrp/ExclusionAmt036249
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt036249
IRS990/MissionDesc0PARTNERSHIP ACADEMY PROVIDES EXCEPTIONAL LEARNING OPPORTUNITIES FOR STUDENTS IN GRADES PRESCHOOL-6TH GRADE WHO LIVE IN RICHFIELD AND NEIGHBORING COMMUNITIES OF BLOOMINGTON AND SOUTH MINNEAPOLIS. STUDENTS OF PARTNERSHIP ACADEMY BENEFIT FROM DATA-DRIVEN INSTRUCTION, A WELL-DEVELOPED ENGLISH LEARNER PROGRAM, HIGH-INTEREST SPECIAL CLASSES, SOCIAL SKILLS DEVELOPMENT, AND AN EXTENDED DAY PROGRAM.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0107413
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt075434
IRS990/NetAssetsOrFundBalancesBOYAmt0-3549545
IRS990/NetAssetsOrFundBalancesEOYAmt0-2746128
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-51151
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-51151
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt08701
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt08701
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt038093
IRS990/OccupancyGrp/ProgramServicesAmt0529550
IRS990/OccupancyGrp/TotalAmt0567643
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt038548
IRS990/OfficeExpensesGrp/ProgramServicesAmt071620
IRS990/OfficeExpensesGrp/TotalAmt0110168
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt05168556
IRS990/OtherAssetsTotalGrp/EOYAmt03727349
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt042016
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0236877
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0278893
IRS990/OtherExpensesGrp/Desc0TRANSPORTATION
IRS990/OtherExpensesGrp/Desc1FOOD
IRS990/OtherExpensesGrp/Desc2INSTRUCTIONAL SUPPLIES
IRS990/OtherExpensesGrp/Desc3CHANGE IN TRA AND PERA
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0-78462
IRS990/OtherExpensesGrp/ProgramServicesAmt0341172
IRS990/OtherExpensesGrp/ProgramServicesAmt1311030
IRS990/OtherExpensesGrp/ProgramServicesAmt292145
IRS990/OtherExpensesGrp/ProgramServicesAmt3-877060
IRS990/OtherExpensesGrp/TotalAmt0341172
IRS990/OtherExpensesGrp/TotalAmt1311030
IRS990/OtherExpensesGrp/TotalAmt292145
IRS990/OtherExpensesGrp/TotalAmt3-955522
IRS990/OtherLiabilitiesGrp/BOYAmt09681256
IRS990/OtherLiabilitiesGrp/EOYAmt07463271
IRS990/OtherRevenueTotalAmt036249
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0250265
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt03039450
IRS990/OtherSalariesAndWagesGrp/TotalAmt03289715
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt023723
IRS990/PayrollTaxesGrp/ProgramServicesAmt0231728
IRS990/PayrollTaxesGrp/TotalAmt0255451
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt0104156
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt0118035
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt030794
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0286051
IRS990/PensionPlanContributionsGrp/TotalAmt0316845
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt01122910
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01302461
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt09859
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt034969
IRS990/PrincipalOfficerNm0LISA HENDRICKS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611110
IRS990/ProgramServiceRevenueGrp/Desc0PRESCHOOL TUITION
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt097857
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt097857
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt05696994
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt016
IRS990/PYOtherExpensesAmt01789029
IRS990/PYOtherRevenueAmt068976
IRS990/PYProgramServiceRevenueAmt084249
IRS990/PYRevenuesLessExpensesAmt0-923050
IRS990/PYSalariesCompEmpBnftPaidAmt04984256
IRS990/PYTotalExpensesAmt06773285
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt05850235
IRS990/QuidProQuoContributionsInd00
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt0145800
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt072763
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0803417
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt097857
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt0117703
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0105879
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0223582
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0332
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt012064
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt012396
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt03727349
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEFERRED OUTFLOWS OF RESOURCES RELATED TO PENSIONS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03224377
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt14238894
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NET PENSION LIABILITY - LONG TERM
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED INFLOWS OF RESOURCES RELATED TO PENSIONS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0A TAX EXPENSE OR BENEFIT FROM AN UNCERTAIN INCOME TAX POSITION (INCLUDING TAX-EXEMPT STATUS) MAY BE RECOGNIZED ONLY WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT BELIEVES THE SCHOOL AND PAA HAVE NO UNCERTAIN INCOME TAX POSITIONS THAT WOULD RESULT IN AN ACCRUAL, EXPENSE OR BENEFIT UNDER THE MORE LIKELY THAN NOT STANDARD.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0118035
IRS990ScheduleD/TotalBookValueOtherAssetsAmt03727349
IRS990ScheduleD/TotalLiabilityAmt07463271
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL HAS PUBLICIZED ITS RACIALLY NONDISCRIMINATORY POLICY THROUGH THEIR ADMISSIONS AND EMPLOYMENT APPLICATIONS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL RECEIVES FEDERAL AND STATE FUNDING.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt072763
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BusinessName/BusinessNameLine1Txt0PARTNERSHIP ACADEMY ASSOCIATION
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0INITIAL FUNDING OF BUIDING ACQUISITION
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt054500
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0CONTROLLED ENTITY
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990ScheduleL/TotalBalanceDueAmt072763
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL'S EXECUTIVE COMMITTEE CONSISTS OF TWO OR MORE DIRECTORS AND HAS THE AUTHORITY TO OVERSEE THE BUSINESS AND AFFAIRS OF THE SCHOOL BETWEEN MEETINGS OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE REPORTS TO THE BOARD OF DIRECTORS AT THE NEXT BOARD MEETING CONCERNING ACTIONS TAKEN BY THE EXECUTIVE COMMITTEE, WITH SUCH ACTIONS SUBJECT TO RATIFICATION BY THE FULL BOARD OF DIRECTORS AT SUCH MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL'S MEMBERS INCLUDE INDIVIDUALS CURRENTLY EMPLOYED AT THE SCHOOL AND THE PARENT(S)/GUARDIAN(S) OF AN ENROLLED STUDENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE MEMBERS ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AMENDMENTS TO THE SCHOOL'S GOVERNING DOCUMENTS MUST BE APPROVED BY A MAJORITY VOTE OF THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FINANCE COMMITTEE OF THE BOARD REVIEWS THE FORM 990 WHICH IS THEN BROUGHT TO THE FULL BOARD FOR APPROVAL AND SIGNATURE. THE PRESENTATION AND APPROVAL OF THE FORM 990 IS DOCUMENTED IN THE MEETING MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BOARD MEMBERS WILL ANNUALLY DISCLOSE THEIR INVOLVEMENTS WITH OTHER ORGANIZATIONS WITH VENDORS, OR ANY ASSOCIATIONS, WHICH MIGHT BE OR MIGHT REASONABLY BE SEEN AS BEING A CONFLICT WHEN THE BOARD IS TO DECIDE UPON AN ISSUE, ABOUT WHICH A BOARD MEMBER HAS AN UNAVOIDABLE CONFLICT OF INTEREST, THAT BOARD MEMBER SHALL ABSENT HERSELF OR HIMSELF WITHOUT COMMENT FROM NOT ONLY THE VOTE, BUT ALSO FROM THE DELIBERATION. BOARD MEMBERS WILL NOT USE THEIR BOARD POSITION TO OBTAIN EMPLOYMENT IN THE SCHOOL FOR THEMSELVES, FAMILY MEMBERS OR CLOSE ASSOCIATES. PROCEEDINGS RELATED TO CONFLICTS OF INTEREST ARE DOCUMENTED IN THE MEETING MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE EXECUTIVE DIRECTOR'S SALARY IS BASED ON THE MARKET (OTHER SCHOOLS AND NONPROFITS) ANALYSIS, BUDGET FACTORS, AND PERFORMANCE REVIEWS. THE EXECUTIVE DIRECTOR'S COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. THE SCHOOL'S OTHER OFFICERS AND TEACHERS' SALARIES ARE BASED ON THE MARKET (OTHER SCHOOLS AND NONPROFITS) ANALYSIS, BUDGET FACTORS AND PERFORMANCE REVIEWS. THE SCHOOL'S OTHER OFFICERS AND TEACHERS' SALARIES ARE APPROVED BY THE BOARD THROUGH THE BUDGET APPROVAL PROCESS EACH SPRING. WHEN INDIVIDUAL SALARIES OF THE EXECUTIVE DIRECTOR OR BOARD MEMBERS ARE DISCUSSED, THEY RECUSE THEMSELVES FROM THE DISCUSSION AND DECISION. THESE PROCESSES WERE LAST PERFORMED DURING FISCAL YEAR 18.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE SCHOOL'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC THROUGH THE WEBSITE AND UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0PARTNERSHIP ACADEMY ASSOCIATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0261120263
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MN

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.03$9.49$2.46$12.1$12.0$0.08
2023Detailed filing. Detailed filing data is available for this year.$8.45$10.4$1.94$11.1$11.4$0.28
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.41$11.0$3.54$11.2$11.0$0.19
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.88$10.5$3.60$9.15$8.76$0.39
2020Detailed filing. Detailed filing data is available for this year.$5.07$8.46$3.39$7.75$8.39$0.64
2019Detailed filing. Detailed filing data is available for this year.$5.73$8.48$2.75$6.16$5.36$0.80
2018Detailed filing. Detailed filing data is available for this year.$6.72$10.3$3.55$5.85$6.77$0.92
2017Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$6.95$9.57$2.63$5.92$6.93$1.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.79$3.41$1.62$5.21$4.95$0.26
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.42$3.30$1.87$4.89$4.82$0.07
2014Detailed filing. Detailed filing data is available for this year.$1.08$0.49$0.59$4.75$4.74$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.94$0.36$0.58$3.91$3.92$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.43$0.94$0.49$3.43
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.16$0.67$0.49$3.39