Civic Intelligence

Friends of Excell Academy

EIN 11-3822685 • 501(c)3 • Brooklyn Park, MN

Profile

To purchase, own, and or construct a public schoolhouse, for lease to the school.

5800 65th Avenue NorthBrooklyn Park, MN 55429

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

96th percentile

1.14x

Higher debt load relative to assets than 96% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

15.60x

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

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

19th percentile

-9.3%

Higher net margin than 19% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

18th percentile

$67,540

Higher top officer pay than 18% of similar nonprofits.

Top officer pay equals 7.8% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

26th percentile

-2.1%

Faster asset growth than 26% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

40th percentile

2.9%

Faster revenue growth than 40% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$11,960,183

Down $258,513 (-2.1%) from 2023

Liabilities

Down

$13,581,525

Down $177,707 (-1.3%) from 2023

Net Assets

Down

-$1,621,342

Down $80,806 (-5.2%) from 2023

Operations
Liabilities / Revenue97th percentileNet Margin19th percentile

Revenue

Up

$870,715

Up $24,740 (+2.9%) from 2023

Expenses

Down

$951,521

Down $109,169 (-10%) from 2023

Net Income

Up

-$80,806

Up $133,909 (+62%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth26th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0-$5.0MAssets 2020: $13,967,341Liabilities 2020: $14,568,812Net Assets 2020: -$601,4712020Assets 2021: $13,233,303Liabilities 2021: $13,989,313Net Assets 2021: -$756,0102021Assets 2022: $12,993,050Liabilities 2022: $13,833,537Net Assets 2022: -$840,4872022Assets 2023: $12,218,696Liabilities 2023: $13,759,232Net Assets 2023: -$1,540,5362023Assets 2024: $11,960,183Liabilities 2024: $13,581,525Net Assets 2024: -$1,621,3422024

Highlighted filing

2024

Assets$11,960,183
Liabilities$13,581,525
Net Assets-$1,621,342
Open 2024 Filing

Operations Trend

Revenue Growth40th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500K-$1.0MRevenue 2020: $422,711Expenses 2020: $1,024,182Net Income 2020: -$601,4712020Revenue 2021: $764,429Expenses 2021: $918,968Net Income 2021: -$154,5392021Revenue 2022: $763,332Expenses 2022: $847,809Net Income 2022: -$84,4772022Revenue 2023: $845,975Expenses 2023: $1,060,690Net Income 2023: -$214,7152023Revenue 2024: $870,715Expenses 2024: $951,521Net Income 2024: -$80,8062024

Highlighted filing

2024

Revenue$870,715
Expenses$951,521
Net Income-$80,806
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,960,183
Liabilities
$13,581,525
Net assets
-$1,621,342
Revenue
$870,715
Expenses
$951,521
Net income
-$80,806
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$12.0$13.6$1.62$0.87$0.95$0.08
2023Detailed filing. Detailed filing data is available for this year.$12.2$13.8$1.54$0.85$1.06$0.21
2022Detailed filing. Detailed filing data is available for this year.$13.0$13.8$0.84$0.76$0.85$0.08
2021Detailed filing. Detailed filing data is available for this year.$13.2$14.0$0.76$0.76$0.92$0.15
2020Detailed filing. Detailed filing data is available for this year.$14.0$14.6$0.60$0.42$1.02$0.60
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 14, 2025
Return Version
2023v6.0
Gross Receipts
$870,715
Mission and Program Overview

Mission

To purchase, own, and or construct a public schoolhouse, for lease to the school.

Maintain school building leased to excell academy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$11,227,492$10,908,785▼ $318,707
Savings and Temporary Cash Investments$990,082$1,051,397▲ $61,315
Cash and Non-Interest-Bearing Accounts$1,122$1▼ $1,121
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-1,540,536$-1,621,342▼ $80,806
Total Assets$12,218,696$11,960,183▼ $258,513
Liabilities
Tax Exempt Bond Liabilities$13,434,657$13,232,410▼ $202,247
Other Liabilities$295,974$323,779▲ $27,805
Accounts Payable and Accrued Expenses$28,601$25,336▼ $3,265
Total Liabilities$13,759,232$13,581,525▼ $177,707
Net Assets / Fund Balance
Total Net Assets Fund Balance$-1,540,536$-1,621,342▼ $80,806
Total Liabilities and Net Assets / Fund Balance$12,218,696$11,960,183▼ $258,513

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$10,658,785$1,459,150$12,117,935
Land$250,000-$250,000
Compensation and Service Providers
Top Officer Pay18th percentile

Employees

NameTitleOtherTotal
Candace DunbarSecretary$67,540$67,540

Board Members and Trustees

NameTitle
Karen StovallChair
Chris BartonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$812,400
Investment Income
$58,315
Other Revenue
$0
Change in Net Assets
$-80,806
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$951,521
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$602,858--$602,858
Depreciation Depletion$318,707--$318,707
Insurance$13,060--$13,060
Other Expenses$11,249--$11,249
Fees for Services Other$3,915--$3,915
Fees for Services Accounting$1,732--$1,732
Total Functional Expenses$951,521$0$0$951,521
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

Other Reported Liabilities

LiabilityAmount
Due to Excell Academy$323,779

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of Brooklyn Park2020-12-17$13,907,533CAPITAL EXPENDITURES

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$13,907,533--$640,350

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with 35% controlled entity
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
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 6

“Excell academy is the sole member.”

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

“The sole member, excell academy, has the power to remove or appoint directors of the organization.”

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

“The articles of incorporation shall not be amended without written consent of the sole member, excell academy.”

Form 990, Part VI, Section A, Line 8B

“The organization does not have committees that have the authority to act on behalf of the board of directors.”

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

“A draft of the form 990 is reviewed by management and provided to the board of directors prior to approval and signature.”

Form 990, Part VI, Section C, Line 19

“The school makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Friends of Excell Academy
EIN
11-3822685
Phone
7635330500
Address
5800 65TH AVENUE NORTH, BROOKLYN PARK, MN 55429

Signing Officer

Name
Joshuyan Williams
Title
Secretary
Phone
7635330500
Signed
2025-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karen Stovall
Formed
2007
Legal Domicile
Mn
Voting Board Members
3
Independent Board Members
2
Employees
0
Volunteers
2

Preparer

Firm
Creative Planning Tax LLC
Address
100 E PARK AVE STE 300, WATERLOO, IA 50703
Preparer
Brian Aronson CPA
Phone
3192346885
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The academy is exempt from income taxes under section 501(c)(3) of the internal revenue code (irc). The academy is also exempt from minnesota franchise or income tax. The academy is required to assess whether an uncertain tax position exists and if there should be recognition of a related benefit or liability in the financial statements. The academy has determined there are not amounts to record as assets or liabilities related to uncertain tax positions.”

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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/TaxExemptBondsIssuesGrp/DefeasedInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt013907533
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0CITY OF BROOKLYN PARK
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0CAPITAL EXPENDITURES
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt011894312
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt0806250
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0640350
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr02021
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt013907533
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EXCELL ACADEMY IS THE SOLE MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SOLE MEMBER, EXCELL ACADEMY, HAS THE POWER TO REMOVE OR APPOINT DIRECTORS OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ARTICLES OF INCORPORATION SHALL NOT BE AMENDED WITHOUT WRITTEN CONSENT OF THE SOLE MEMBER, EXCELL ACADEMY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION DOES NOT HAVE COMMITTEES THAT HAVE THE AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A DRAFT OF THE FORM 990 IS REVIEWED BY MANAGEMENT AND PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO APPROVAL AND SIGNATURE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0EXCELL ACADEMY FOR HIGHER LEARNING INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0411968867
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PUBLIC CHARTER SCHOOL
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt06510 ZANE AVENUE NORTH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0BROOKLYN PARK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd055429
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt013434657
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt013232410
IRS990/TaxExemptBondsInd01
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt012218696
IRS990/TotalAssetsEOYAmt011960183
IRS990/TotalAssetsGrp/BOYAmt012218696
IRS990/TotalAssetsGrp/EOYAmt011960183
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0951521
IRS990/TotalFunctionalExpensesGrp/TotalAmt0951521
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt013759232
IRS990/TotalLiabilitiesEOYAmt013581525
IRS990/TotalLiabilitiesGrp/BOYAmt013759232
IRS990/TotalLiabilitiesGrp/EOYAmt013581525
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1540536
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1621342
IRS990/TotalOtherCompensationAmt04131
IRS990/TotalProgramServiceExpensesAmt0951521
IRS990/TotalProgramServiceRevenueAmt0812400
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt058315
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0812400
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0870715
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt02
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05800 65TH AVENUE NORTH
IRS990/USAddress/CityNm0BROOKLYN PARK
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055429
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JOSHUYAN WILLIAMS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum07635330500
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FRIENDS OF EXCELL ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0FRIE
ReturnHeader/Filer/EIN0113822685
ReturnHeader/Filer/PhoneNum07635330500
ReturnHeader/Filer/USAddress/AddressLine1Txt05800 65TH AVENUE NORTH
ReturnHeader/Filer/USAddress/CityNm0BROOKLYN PARK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0471019942
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CREATIVE PLANNING TAX LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 E PARK AVE STE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WATERLOO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd050703

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