Liabilities / Assets
95th percentile
Higher debt load relative to assets than 95% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
1.17x
Liabilities / Revenue
80th percentile
Higher debt load relative to revenue than 80% of similar nonprofits.
Net Margin
58th percentile
Higher net margin than 58% of similar nonprofits.
Top Officer Pay
42nd percentile
Higher top officer pay than 42% of similar nonprofits.
Top officer pay equals 1.3% of source-year revenue.
Asset Growth
67th percentile
Faster asset growth than 67% of similar nonprofits.
Revenue Growth
89th percentile
Faster revenue growth than 89% of similar nonprofits.
Balance Sheet
Assets
Up$5,782,800
Up $486,671 (+9.2%) from 2018
Net Assets
Up-$1,008,532
Up $1,018,806 (+50%) from 2018
Liabilities
Down$6,791,332
Down $532,135 (-7.3%) from 2018
Revenue And Expenses
Revenue
Up$7,800,133
Up $2,591,057 (+50%) from 2018
Expenses
Up$7,353,845
Up $1,200,280 (+20%) from 2018
Net Income
Up$446,288
Up $1,390,777 (+147%) from 2018
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2018 to Jun 30, 2019
- Signed
- Apr 2, 2020
- Return Version
- 2018v3.1
- Gross Receipts
- $7,802,088
Mission and Program Overview
Mission
To provide students with a personalized and adaptive education to grow academically, emotionally, and socially.
SEE PART III, LINE 1.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Savings and Temporary Cash Investments | $888,374 | $879,279 | ▼ $9,095 |
| Accounts Receivable | $167,273 | $745,721 | ▲ $578,448 |
| Land, Buildings, and Equipment, Net | $102,036 | $297,952 | ▲ $195,916 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $46,254 | $181,955 | ▲ $135,701 |
| Prepaid Expenses and Deferred Charges | $110,500 | $13,954 | ▼ $96,546 |
| Rtn Earn Endowment Incm Other Fnds | $0 | $0 | → $0 |
| Cap Stk Tr Prin Current Funds | $-2,073,592 | $-1,190,487 | ▲ $883,105 |
| Total Assets | $5,296,129 | $5,782,800 | ▲ $486,671 |
| Other Assets Total | $4,027,946 | $3,845,894 | ▼ $182,052 |
| Liabilities | |||
| Other Liabilities | $7,032,385 | $6,285,065 | ▼ $747,320 |
| Accounts Payable and Accrued Expenses | $235,300 | $390,200 | ▲ $154,900 |
| Mortgage Notes Payable Secured by Investment Property | $55,782 | $115,997 | ▲ $60,215 |
| Deferred Revenue | - | $70 | - |
| Total Liabilities | $7,323,467 | $6,791,332 | ▼ $532,135 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $-2,027,338 | $-1,008,532 | ▲ $1,018,806 |
| Total Liabilities and Net Assets / Fund Balance | $5,296,129 | $5,782,800 | ▲ $486,671 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $297,952 | $157,286 | $455,238 |
| Other Assets Org | $3,845,869 | - | - |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Chipp Windham | Executive Director | FT | $92,042 | $12,995 | $105,037 |
| Taryn Mcgovern | Secretary/teacher | FT | $50,949 | $10,054 | $61,003 |
| Katie Rose Kammerude | Member - Teacher | FT | $48,035 | $9,452 | $57,487 |
Board Members and Trustees
| Name | Title |
|---|---|
| Donna Piazza | Board Chair |
| Joanna Hicks | Vice Chair |
| Amy Wood | Member |
| Jim Lawrence | Member |
| Sarah Wallrath | Member |
| Shannan Paul | Member |
| Karen Marshall | Treasurer |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Contemporary Transportation | Student Transportation | 2300 NEVADA AVE NO 300, Golden Valley, MN 55427 | $626,680 |
| Pediatric Psych Services | Psychologist | 4832 W 27TH STREET, St Louis Park, MN 55416 | $104,471 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $7,470,506
- Program Service Revenue
- $294,194
- Investment Income
- $83
- Other Revenue
- $35,350
- All Other Contributions
- $12,266
- Change in Net Assets
- $446,288
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $7,800,133
- Revenue Not Reported on Financial Statements
- $0
- Revenue Not Reported on Form 990
- $1,492,082
- Total Revenue per Audited Statements
- $9,292,215
- Total Revenue per Form 990
- $7,800,133
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $4,294,072 |
| Other Expenses | $3,059,773 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | $3,028,642 | $39,490 | - | $3,068,132 |
| Occupancy | $1,459,813 | - | - | $1,459,813 |
| Other Employee Benefits | $420,265 | $5,770 | - | $426,035 |
| Fees for Services Other | $281,724 | $13,175 | - | $294,899 |
| Payroll Taxes | $241,797 | $10,664 | - | $252,461 |
| Current Officers, Directors, Trustees, and Key Employees | $124,923 | $107,867 | - | $232,790 |
| Pension Plan Contributions | $221,799 | $2,976 | - | $224,775 |
| Office Expenses | $58,864 | $53,492 | - | $112,356 |
| Comp Disqual Persons | $89,879 | - | - | $89,879 |
| Depreciation Depletion | $67,515 | $231 | - | $67,746 |
| Fees for Services Accounting | - | $65,076 | - | $65,076 |
| All Other Expenses | $37,534 | $13,991 | - | $51,525 |
| Other Expenses | $35,565 | - | - | $35,565 |
| Advertising | - | $28,271 | - | $28,271 |
| Information Technology | $11,569 | $16,048 | - | $27,617 |
| Insurance | $15,487 | - | - | $15,487 |
| Conferences and Meetings | $10,899 | $525 | - | $11,424 |
| Interest | $5,861 | - | - | $5,861 |
| Fees for Services Legal | - | $4,642 | - | $4,642 |
| Total Functional Expenses | $6,991,627 | $362,218 | $0 | $7,353,845 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $12,657,999 |
| Total Expenses per Form 990 | $7,353,845 |
| Expenses per Audited Statements | $7,271,873 |
| Expenses Not Reported on Form 990 | $5,386,126 |
| Expenses Not Reported on Financial Statements | $81,972 |
| Other Expense Adjustments | $81,972 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| 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
| Liability | Amount |
|---|---|
| Deferred Inflows - Pension | $3,563,375 |
| Net Pension Liability | $2,721,690 |
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
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Section A, Line 7A
“As per mn statute 124e.07, staff members employed at the school, including teachers providing instruction under a contract, members of the board of directors, and all parents or legal guardians of children enrolled in the school are the voters eligible to elect the members of the schools board of directors.”
Form 990, Part VI, Section B, Line 11B
“The spero academy finance committee reviews the form 990, while in preparation, and then presents the public disclosure form 990 to the board of directors for review and approval, prior to submission.”
Form 990, Part VI, Section B, Line 12C
“The members of the board of directors receive an orientation and review of the conflict of interest policy at the annual meeting of the board. Following the information review, each member completes and signs a conflict of interest disclosure that is current for the year. The governance committee reminds board members of their disclosure responsibilities at several times throughout the school year at board meetings.”
Form 990, Part VI, Section B, Line 15A
“The spero academy personnel committee reviews the macs annual report of charter school salaries and benefits for comparability, the chair of the personnel committee solicits performance review data from officers of the board and summarizes the responses for a meeting and discussion with the director. Compensation is recommended to the full board of directors, as outlined by the approved administration compensation plan, by the chair of the board and based on the results of the compensation and performance reviews. The full board takes action on the contract prior to execution.”
Form 990, Part VI, Section C, Line 19
“The policies and financial statements of spero academy are posted on its website. The policies and financial statements are also available in the school office for review of hard copy.”
FORM 990, PART VII, SECTION A:
“Related board members per mn statute 124e.07, charter schools are required to have a licensed teacher as a member of the board of directors. Katie rose kammerude and taryn mcgovern are board members but received compensation for their services as teachers.”
Filing and Contact Details
Filer
- Filer Name
- Spero Academy
- EIN
- 20-0309518
- Phone
- 6124658600
- Address
- 2701 CALIFORNIA ST NE, MINNEAPOLIS, MN 55418
Signing Officer
- Name
- Curtis Windham
- Title
- Executive Director
- Phone
- 6124658600
- Signed
- 2020-04-02
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Donna Piazza
- Formed
- 2003
- Legal Domicile
- Mn
- Voting Board Members
- 9
- Independent Board Members
- 7
- Employees
- 122
- Volunteers
- 25
Preparer
- Firm
- Bergankdv Ltd
- Address
- 3800 AMERICAN BLVD WEST SUITE 1000, MINNEAPOLIS, MN 55431-4420
- Preparer
- Theresa Goette
- Phone
- 9525636800
Supplemental Narrative
Additional Explanations
FORM 990, PART X, LINE 25:
“Pension liabilities, deferred outflows & inflows pension: as a charter school in the state of minnesota, participation in two multiple-employer, cost-sharing defined benefit pension plans is statutorily required. The school's contributions to the plans are also regulated by statute and are based on a percentage of salaries and wages earned by current employees. Therefore, while the net pension liability, deferred outflows and inflows, are reported on the school's statement of net position, the school is not in a position to directly control the liabilities or the subsequent liquidation of the liabilities.”
FORM 990, PART XI, LINE 9:
“Gasb 68 - pension adjustment 572,518.”
Financial Statement Notes
PART XI, LINE 2D - OTHER ADJUSTMENTS:
“Friends of spero revenues 1,371,451. Capital lease proceeds 120,631.”
PART XII, LINE 2D - OTHER ADJUSTMENTS:
“Capitalized equipment 264,284. Principal payments - capital leases 60,416. Friends of spero expenses 5,061,426.”
PART XII, LINE 4B - OTHER ADJUSTMENTS:
“Depreciation expense 67,746. Change in compensated absences payable 13,604. Loss on disposal of capital assets 622.”
Raw XML AppendixShowing 400 of 532 raw XML fields
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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| IRS990/Desc | 0 | SPERO ACADEMY COMPLETED YEAR 15 OF OPERATION ON JUNE 30, 2019.ON JUNE 30, 2019, SPERO ACADEMY COMPLETED THE FIRST FULL YEAR IN THE NEW FACILITY THAT WAS CONSTRUCTED SPECIFICALLY FOR THE SCHOOL AND THE STUDENT POPULATION OF OVER 92% OF STUDENTS WITH DISABILITIES. ENROLLMENT GREW FROM 128 IN YEAR ONE TO 140 IN YEAR TWO. THE SCHOOL'S WAIT-LIST HAS GROWN TO OVER 300 STUDENTS, WHICH SUPPORTS THE PLAN TO REACH MAXIMUM CAPACITY OF 160 STUDENTS BY YEAR FIVE IN THE NEW FACILITY. ALL BUDGETARY GOALS ASSOCIATED WITH THE OPERATIONS OF THE NEW FACILITY AND GROWING ENROLLMENT ARE BEING MET.THE SCHOOL CONTINUES TO RECEIVE HIGH MARKS IN ALL EVALUATIONS FROM THE UNIVERSITY OF ST. THOMAS. THE SCHOOL COMPLETED YEAR ONE OF A FIVE-YEAR AUTHORIZING CONTRACT WITH ST. THOMAS ON JUNE 30, 2019. |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 0 | BOARD CHAIR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | VICE CHAIR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | TREASURER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | SECRETARY/TEACHER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | MEMBER - TEACHER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | EXECUTIVE DIRECTOR |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 0 |
| IRS990/FormationYr | 0 | 2003 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | 0 |
| IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd | 0 | X |
| IRS990/FSAuditedInd | 0 | 1 |
| IRS990/FundraisingActivitiesInd | 0 | 0 |
| IRS990/GamingActivitiesInd | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 9 |
| IRS990/GovernmentGrantsAmt | 0 | 7458240 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 0 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossReceiptsAmt | 0 | 7802088 |
| IRS990/GrossSalesOfInventoryAmt | 0 | 2013 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 0 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 0 |
| IRS990/IndependentVotingMemberCnt | 0 | 7 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIInd | 0 | X |
| IRS990/InfoInScheduleOPartXInd | 0 | X |
| IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt | 0 | 16048 |
| IRS990/InformationTechnologyGrp/ProgramServicesAmt | 0 | 11569 |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 27617 |
| IRS990/InsuranceGrp/ProgramServicesAmt | 0 | 15487 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 15487 |
| IRS990/InterestGrp/ProgramServicesAmt | 0 | 5861 |
| IRS990/InterestGrp/TotalAmt | 0 | 5861 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 83 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 83 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/IRPDocumentCnt | 0 | 11 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 157286 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 102036 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 297952 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 455238 |
| IRS990/LegalDomicileStateCd | 0 | MN |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 0 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | TO PROVIDE STUDENTS WITH A PERSONALIZED AND ADAPTIVE EDUCATION TO GROW ACADEMICALLY, EMOTIONALLY, AND SOCIALLY. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt | 0 | 55782 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt | 0 | 115997 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | -2027338 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | -1008532 |
| IRS990/NetIncomeOrLossGrp/ExclusionAmt | 0 | 58 |
| IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | 58 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 1459813 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 1459813 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 53492 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 58864 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 112356 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrgDoesNotFollowSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 4027946 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 3845894 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 572518 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 5770 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 420265 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 426035 |
| IRS990/OtherExpensesGrp/Desc | 0 | STUDENT TRANSPORTATION |
| IRS990/OtherExpensesGrp/Desc | 1 | SMALL EQUIPMENT |
| IRS990/OtherExpensesGrp/Desc | 2 | FOOD SERVICE |
| IRS990/OtherExpensesGrp/Desc | 3 | EQUIP RENTAL & MAINT |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 768602 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 64017 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 46872 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 35565 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 768602 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 64017 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 46872 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 35565 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 7032385 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 6285065 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 611600 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | MISC REVENUE |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 0 | 35292 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 35292 |
| IRS990/OtherRevenueTotalAmt | 0 | 35292 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 39490 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 3028642 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 3068132 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 10664 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 241797 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 252461 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt | 0 | 46254 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt | 0 | 181955 |
| IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt | 0 | 2976 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 221799 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 224775 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 110500 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 13954 |
| IRS990/PrincipalOfficerNm | 0 | DONNA PIAZZA |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 611600 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 611710 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 2 | 611600 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | MEDICAL ASSISTANCE |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | FOOD SALES |
| IRS990/ProgramServiceRevenueGrp/Desc | 2 | FEES FROM PATRONS |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 280777 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 12812 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 2 | 605 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 280777 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 12812 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 2 | 605 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 5019725 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 1143 |
| IRS990/PYOtherExpensesAmt | 0 | 1597205 |
| IRS990/PYOtherRevenueAmt | 0 | 506 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 187702 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -944489 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 4556360 |
| IRS990/PYTotalExpensesAmt | 0 | 6153565 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 5209076 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 446288 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 1 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 1 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 329486 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 0 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 0 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 888374 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 879279 |
| IRS990ScheduleA/SchoolInd | 0 | X |
| IRS990/ScheduleBRequiredInd | 0 | 0 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 297952 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 157286 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 455238 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 5386126 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 81972 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 7271873 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 0 | 25 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 1 | 3845869 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | DUE FROM FRIENDS OF SPERO ACADEMY |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 1 | DEFERRED OUTFLOWS - PENSION |
| IRS990ScheduleD/OtherExpensesIncludedAmt | 0 | 5386126 |
| IRS990ScheduleD/OtherExpensesNotIncludedAmt | 0 | 81972 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 2721690 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 3563375 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | NET PENSION LIABILITY |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | DEFERRED INFLOWS - PENSION |
| IRS990ScheduleD/OtherRevenueAmt | 0 | 1492082 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 1492082 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 7800133 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | FRIENDS OF SPERO REVENUES 1,371,451. CAPITAL LEASE PROCEEDS 120,631. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | CAPITALIZED EQUIPMENT 264,284. PRINCIPAL PAYMENTS - CAPITAL LEASES 60,416. FRIENDS OF SPERO EXPENSES 5,061,426. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 2 | DEPRECIATION EXPENSE 67,746. CHANGE IN COMPENSATED ABSENCES PAYABLE 13,604. LOSS ON DISPOSAL OF CAPITAL ASSETS 622. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART XI, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | PART XII, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | PART XII, LINE 4B - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 297952 |
| IRS990ScheduleD/TotalBookValueOtherAssetsAmt | 0 | 3845894 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 7353845 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 6285065 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 7800133 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 9292215 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 12657999 |
| IRS990ScheduleE/ComplianceWithRevProc7550Ind | 0 | 1 |
| IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceAthltProgInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEducPlcyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceOtherActyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceSchsInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd | 0 | 0 |
| IRS990ScheduleE/GovernmentFinancialAidRcvdInd | 0 | 1 |
| IRS990ScheduleE/GovernmentFinancialAidRvkdInd | 0 | 0 |
| IRS990ScheduleE/MaintainCpyOfAllSolInd | 0 | 1 |
| IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd | 0 | 1 |
| IRS990ScheduleE/MaintainRacialCompRecsInd | 0 | 1 |
| IRS990ScheduleE/MaintainScholarshipsRecsInd | 0 | 1 |
| IRS990ScheduleE/NondiscriminatoryPolicyStmtInd | 0 | 1 |
| IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd | 0 | 1 |
| IRS990ScheduleE/PolicyStmtInBrochuresEtcInd | 0 | 1 |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 0 | POLICIES ARE POSTED ON THE SCHOOL WEBSITE OR AVAILABLE AT THE SITE AS REQUESTED. |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 1 | AS A MN PUBLIC CHARTER SCHOOL, SPERO ACADEMY RECEIVES STATE EDUCATION AID AND FEDERAL GRANT FUNDING. |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE E, PART I, LINE 3 |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | SCHEDULE E, PART I, LINE 6 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | AS PER MN STATUTE 124E.07, STAFF MEMBERS EMPLOYED AT THE SCHOOL, INCLUDING TEACHERS PROVIDING INSTRUCTION UNDER A CONTRACT, MEMBERS OF THE BOARD OF DIRECTORS, AND ALL PARENTS OR LEGAL GUARDIANS OF CHILDREN ENROLLED IN THE SCHOOL ARE THE VOTERS ELIGIBLE TO ELECT THE MEMBERS OF THE SCHOOLS BOARD OF DIRECTORS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | THE SPERO ACADEMY FINANCE COMMITTEE REVIEWS THE FORM 990, WHILE IN PREPARATION, AND THEN PRESENTS THE PUBLIC DISCLOSURE FORM 990 TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL, PRIOR TO SUBMISSION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE MEMBERS OF THE BOARD OF DIRECTORS RECEIVE AN ORIENTATION AND REVIEW OF THE CONFLICT OF INTEREST POLICY AT THE ANNUAL MEETING OF THE BOARD. FOLLOWING THE INFORMATION REVIEW, EACH MEMBER COMPLETES AND SIGNS A CONFLICT OF INTEREST DISCLOSURE THAT IS CURRENT FOR THE YEAR. THE GOVERNANCE COMMITTEE REMINDS BOARD MEMBERS OF THEIR DISCLOSURE RESPONSIBILITIES AT SEVERAL TIMES THROUGHOUT THE SCHOOL YEAR AT BOARD MEETINGS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE SPERO ACADEMY PERSONNEL COMMITTEE REVIEWS THE MACS ANNUAL REPORT OF CHARTER SCHOOL SALARIES AND BENEFITS FOR COMPARABILITY, THE CHAIR OF THE PERSONNEL COMMITTEE SOLICITS PERFORMANCE REVIEW DATA FROM OFFICERS OF THE BOARD AND SUMMARIZES THE RESPONSES FOR A MEETING AND DISCUSSION WITH THE DIRECTOR. COMPENSATION IS RECOMMENDED TO THE FULL BOARD OF DIRECTORS, AS OUTLINED BY THE APPROVED ADMINISTRATION COMPENSATION PLAN, BY THE CHAIR OF THE BOARD AND BASED ON THE RESULTS OF THE COMPENSATION AND PERFORMANCE REVIEWS. THE FULL BOARD TAKES ACTION ON THE CONTRACT PRIOR TO EXECUTION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE POLICIES AND FINANCIAL STATEMENTS OF SPERO ACADEMY ARE POSTED ON ITS WEBSITE. THE POLICIES AND FINANCIAL STATEMENTS ARE ALSO AVAILABLE IN THE SCHOOL OFFICE FOR REVIEW OF HARD COPY. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | RELATED BOARD MEMBERS PER MN STATUTE 124E.07, CHARTER SCHOOLS ARE REQUIRED TO HAVE A LICENSED TEACHER AS A MEMBER OF THE BOARD OF DIRECTORS. KATIE ROSE KAMMERUDE AND TARYN MCGOVERN ARE BOARD MEMBERS BUT RECEIVED COMPENSATION FOR THEIR SERVICES AS TEACHERS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | PENSION LIABILITIES, DEFERRED OUTFLOWS & INFLOWS PENSION: AS A CHARTER SCHOOL IN THE STATE OF MINNESOTA, PARTICIPATION IN TWO MULTIPLE-EMPLOYER, COST-SHARING DEFINED BENEFIT PENSION PLANS IS STATUTORILY REQUIRED. THE SCHOOL'S CONTRIBUTIONS TO THE PLANS ARE ALSO REGULATED BY STATUTE AND ARE BASED ON A PERCENTAGE OF SALARIES AND WAGES EARNED BY CURRENT EMPLOYEES. THEREFORE, WHILE THE NET PENSION LIABILITY, DEFERRED OUTFLOWS AND INFLOWS, ARE REPORTED ON THE SCHOOL'S STATEMENT OF NET POSITION, THE SCHOOL IS NOT IN A POSITION TO DIRECTLY CONTROL THE LIABILITIES OR THE SUBSEQUENT LIQUIDATION OF THE LIABILITIES. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | GASB 68 - PENSION ADJUSTMENT 572,518. |
Document Assets
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Filings
Displayed year
2019 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $5,782,800
- Liabilities
- $6,791,332
- Net assets
- -$1,008,532
- Revenue
- $7,800,133
- Expenses
- $7,353,845
- Net income
- $446,288