Liabilities / Assets
97th percentile
Higher debt load relative to assets than 97% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
1.38x
Liabilities / Revenue
85th percentile
Higher debt load relative to revenue than 85% of similar nonprofits.
Net Margin
13th percentile
Higher net margin than 13% of similar nonprofits.
Top Officer Pay
Score unavailable
This filing does not contain officer compensation rows.
Asset Growth
99th percentile
Faster asset growth than 99% of similar nonprofits.
Revenue Growth
72nd percentile
Faster revenue growth than 72% of similar nonprofits.
Balance Sheet
Assets
Up$5,296,129
Up $4,126,910 (+353%) from 2017
Net Assets
Down-$2,027,338
Down $944,489 (-87%) from 2017
Liabilities
Up$7,323,467
Up $5,071,399 (+225%) from 2017
Revenue And Expenses
Revenue
Up$5,209,076
Up $711,635 (+16%) from 2017
Expenses
Up$6,153,565
Up $1,105,505 (+22%) from 2017
Net Income
Down-$944,489
Down $393,870 (-72%) from 2017
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2017 to Jun 30, 2018
- Signed
- Apr 10, 2019
- Return Version
- 2017v2.3
- Gross Receipts
- $5,209,076
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 | $487,284 | $888,374 | ▲ $401,090 |
| Accounts Receivable | $473,567 | $167,273 | ▼ $306,294 |
| Prepaid Expenses and Deferred Charges | $70,422 | $110,500 | ▲ $40,078 |
| Land, Buildings, and Equipment, Net | $97,096 | $102,036 | ▲ $4,940 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $50,988 | $46,254 | ▼ $4,734 |
| Rtn Earn Endowment Incm Other Fnds | $0 | $0 | → $0 |
| Cap Stk Tr Prin Current Funds | $-1,133,837 | $-2,073,592 | ▼ $939,755 |
| Total Assets | $1,169,219 | $5,296,129 | ▲ $4,126,910 |
| Other Assets Total | $40,850 | $4,027,946 | ▲ $3,987,096 |
| Liabilities | |||
| Other Liabilities | $2,004,474 | $7,032,385 | ▲ $5,027,911 |
| Accounts Payable and Accrued Expenses | $201,486 | $235,300 | ▲ $33,814 |
| Mortgage Notes Payable Secured by Investment Property | $46,108 | $55,782 | ▲ $9,674 |
| Total Liabilities | $2,252,068 | $7,323,467 | ▲ $5,071,399 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $-1,082,849 | $-2,027,338 | ▼ $944,489 |
| Total Liabilities and Net Assets / Fund Balance | $1,169,219 | $5,296,129 | ▲ $4,126,910 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $102,036 | $89,913 | $191,949 |
| Other Assets Org | $4,020,671 | - | - |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Curtis Windham | Executive Director | FT | $91,731 | $12,004 | $103,735 |
| Taryn Mcgovern | Secretary/teacher | FT | $52,352 | $9,105 | $61,457 |
| Katie Rose Kammerude | Member/teacher | FT | $43,745 | $8,515 | $52,260 |
Board Members and Trustees
| Name | Title |
|---|---|
| Donna Piazza | Board Chair |
| Joanna Hicks | Vice Chair |
| Crystal Totten | Member |
| Janelle Erickson | Member |
| Neil Nye | Member |
| Shannan Paul | Member |
| Tony Farah | Member |
| Karen Marshall | Treasurer |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Care Cab INC | Student Transportation | 2600 NO 7TH STREET, St Cloud, MN 56303 | $461,938 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $5,019,725
- Program Service Revenue
- $187,702
- Investment Income
- $1,143
- Other Revenue
- $506
- All Other Contributions
- $23,909
- Change in Net Assets
- $-944,489
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $5,199,453
- Revenue Not Reported on Financial Statements
- $9,623
- Revenue Not Reported on Form 990
- $18,076,305
- Other Revenue Adjustments
- $9,623
- Total Revenue per Audited Statements
- $23,275,758
- Total Revenue per Form 990
- $5,209,076
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $4,556,360 |
| Other Expenses | $1,597,205 |
| 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 | $2,461,954 | $37,829 | - | $2,499,783 |
| Pension Plan Contributions | $1,132,299 | $66,884 | - | $1,199,183 |
| Occupancy | $372,763 | - | - | $372,763 |
| Other Employee Benefits | $332,950 | $3,837 | - | $336,787 |
| Current Officers, Directors, Trustees, and Key Employees | $121,779 | $103,992 | - | $225,771 |
| Fees for Services Other | $217,695 | $1,054 | - | $218,749 |
| Payroll Taxes | $197,810 | $10,911 | - | $208,721 |
| Comp Disqual Persons | $86,115 | - | - | $86,115 |
| Advertising | - | $76,622 | - | $76,622 |
| Fees for Services Accounting | - | $61,815 | - | $61,815 |
| Depreciation Depletion | $40,976 | $199 | - | $41,175 |
| Office Expenses | $20,592 | $17,072 | - | $37,664 |
| Information Technology | $26,233 | $7,341 | - | $33,574 |
| All Other Expenses | $17,673 | $12,310 | - | $29,983 |
| Other Expenses | $19,393 | - | - | $19,393 |
| Conferences and Meetings | $10,477 | $50 | - | $10,527 |
| Insurance | $6,440 | - | - | $6,440 |
| Interest | $3,604 | - | - | $3,604 |
| Fees for Services Legal | - | $2,275 | - | $2,275 |
| Total Functional Expenses | $5,751,374 | $402,191 | $0 | $6,153,565 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $16,706,115 |
| Expenses Not Reported on Form 990 | $11,616,378 |
| Total Expenses per Form 990 | $6,153,565 |
| Expenses per Audited Statements | $5,089,737 |
| Expenses Not Reported on Financial Statements | $1,063,828 |
| Other Expense Adjustments | $1,063,828 |
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 |
|---|---|
| Net Pension Liability | $6,039,135 |
| Deferred Inflows - Pension | $993,250 |
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 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
- 2019-04-10
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Donna Piazza
- Formed
- 2003
- Legal Domicile
- Mn
- Voting Board Members
- 6
- Independent Board Members
- 4
- Employees
- 95
- 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.”
Financial Statement Notes
PART XI, LINE 2D - OTHER ADJUSTMENTS:
“Friends of spero revenues 18,037,961. Capital lease proceeds 38,344.”
PART XI, LINE 4B - OTHER ADJUSTMENTS:
“State aid related to pension exp 9,623.”
PART XII, LINE 2D - OTHER ADJUSTMENTS:
“Capitalized equipment 46,307. Principal payments - capital leases 28,670. Friends of spero expenses 11,541,401.”
PART XII, LINE 4B - OTHER ADJUSTMENTS:
“Depreciation expense 41,175. Change in pension liabilities 1,016,863. Change in compensated absences payable 5,598. Loss on disposal of capital assets 192.”
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| IRS990/Desc | 0 | THE 2017-2018 SCHOOL YEAR WAS THE SCHOOL'S FOURTEENTH YEAR OF OPERATION.SPERO ACADEMY BEGAN A BUILDING PROJECT THAT STARTED IN THE SPRING OF 2016. FINAL APPROVALS OF THE CONSTRUCTION OF A NEW FACILITY WAS RECEIVED IN JULY OF 2017 WITH A FINAL COMPLETION OF THE FACILITY IN THE FALL OF 2018. THE NEW FACILITY WILL ALLOW THE SCHOOL TO INCREASE ENROLLMENT UP TO 168 STUDENTS, WHICH SHOULD BE MET IN YEAR FIVE OF BEING IN THE NEW SCHOOL. THE SCHOOL WILL ALSO MEET ALL BUDGETARY GOALS FOR THE PROJECT.SPERO ACADEMY ALSO RECEIVED A FIVE YEAR RENEWAL WITH THE UNIVERSITY OF ST. THOMAS AS OUR AUTHORIZER. THE LAST AGREEMENT WAS A THREE YEAR AGREEMENT AND ENDED ON JUNE 30, 2018. THE FINAL REVIEW OF SPERO ACADEMY FROM ST. THOMAS SHOWED THAT ALL AREAS WERE IN GOOD STANDING AND THAT A FIVE YEAR AGREEMENT WAS RECOMMENDED BASED ON POSITIVE PERFORMANCE. A FIVE YEAR AGREEMENT IS ALSO THE LONGEST AGREEMENT POSSIBLE FROM THE UNIVERSITY OF ST. THOMAS. |
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| 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 | MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | 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 | 6 |
| IRS990/GovernmentGrantsAmt | 0 | 4995816 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 0 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossReceiptsAmt | 0 | 5209076 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 0 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 0 |
| IRS990/IndependentVotingMemberCnt | 0 | 4 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXInd | 0 | X |
| IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt | 0 | 7341 |
| IRS990/InformationTechnologyGrp/ProgramServicesAmt | 0 | 26233 |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 33574 |
| IRS990/InsuranceGrp/ProgramServicesAmt | 0 | 6440 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 6440 |
| IRS990/InterestGrp/ProgramServicesAmt | 0 | 3604 |
| IRS990/InterestGrp/TotalAmt | 0 | 3604 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 1143 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 1143 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/IRPDocumentCnt | 0 | 13 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 89913 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 97096 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 102036 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 191949 |
| 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 | 46108 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt | 0 | 55782 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | -1082849 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | -2027338 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 372763 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 372763 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 17072 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 20592 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 37664 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrgDoesNotFollowSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 40850 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 4027946 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 3837 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 332950 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 336787 |
| IRS990/OtherExpensesGrp/Desc | 0 | STUDENT TRANSPORTATION |
| IRS990/OtherExpensesGrp/Desc | 1 | FOOD SERVICE |
| IRS990/OtherExpensesGrp/Desc | 2 | INSTRUCTIONAL SUPPLIES |
| IRS990/OtherExpensesGrp/Desc | 3 | EQUIP RENTAL & MAINT |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 606113 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 39836 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 36672 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 19393 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 606113 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 39836 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 36672 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 19393 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 2004474 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 7032385 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 611600 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | MISC REVENUE |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 0 | 506 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 506 |
| IRS990/OtherRevenueTotalAmt | 0 | 506 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 37829 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 2461954 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 2499783 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 10911 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 197810 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 208721 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt | 0 | 50988 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt | 0 | 46254 |
| IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt | 0 | 66884 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 1132299 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 1199183 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 70422 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 110500 |
| 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 | 176187 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 10843 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 2 | 672 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 176187 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 10843 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 2 | 672 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 4344496 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 498 |
| IRS990/PYOtherExpensesAmt | 0 | 1462996 |
| IRS990/PYOtherRevenueAmt | 0 | 4159 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 148288 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -550619 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 3585064 |
| IRS990/PYTotalExpensesAmt | 0 | 5048060 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 4497441 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -944489 |
| 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 | 188208 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 0 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 0 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 487284 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 888374 |
| IRS990ScheduleA/SchoolInd | 0 | X |
| IRS990/ScheduleBRequiredInd | 0 | 1 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 102036 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 89913 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 191949 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 11616378 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 1063828 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 5089737 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 0 | 7275 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 1 | 4020671 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | DUE FROM FRIENDS OF SPERO ACADEMY |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 1 | DEFERRED OUTFLOWS - PENSION |
| IRS990ScheduleD/OtherExpensesIncludedAmt | 0 | 11616378 |
| IRS990ScheduleD/OtherExpensesNotIncludedAmt | 0 | 1063828 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 6039135 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 993250 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | NET PENSION LIABILITY |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | DEFERRED INFLOWS - PENSION |
| IRS990ScheduleD/OtherRevenueAmt | 0 | 18076305 |
| IRS990ScheduleD/OtherRevenuesNotIncludedAmt | 0 | 9623 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 18076305 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 9623 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 5199453 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | FRIENDS OF SPERO REVENUES 18,037,961. CAPITAL LEASE PROCEEDS 38,344. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | STATE AID RELATED TO PENSION EXP 9,623. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 2 | CAPITALIZED EQUIPMENT 46,307. PRINCIPAL PAYMENTS - CAPITAL LEASES 28,670. FRIENDS OF SPERO EXPENSES 11,541,401. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 3 | DEPRECIATION EXPENSE 41,175. CHANGE IN PENSION LIABILITIES 1,016,863. CHANGE IN COMPENSATED ABSENCES PAYABLE 5,598. LOSS ON DISPOSAL OF CAPITAL ASSETS 192. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART XI, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | PART XI, LINE 4B - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | PART XII, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | PART XII, LINE 4B - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 102036 |
| IRS990ScheduleD/TotalBookValueOtherAssetsAmt | 0 | 4027946 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 6153565 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 7032385 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 5209076 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 23275758 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 16706115 |
| 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 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/FormAndLineReferenceDesc | 0 | FORM 990, PART VI, SECTION A, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, SECTION B, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION B, LINE 12C |
Document Assets
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Filings
Displayed year
2018 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $5,296,129
- Liabilities
- $7,323,467
- Net assets
- -$2,027,338
- Revenue
- $5,209,076
- Expenses
- $6,153,565
- Net income
- -$944,489