Civic Intelligence

Team Academy

990 • Fiscal year 2022 • EIN 20-1056964

Jul 01, 2021 to Jun 30, 2022 • Filed on Feb 07, 2023

Organization ProfileWWW.TEAM.K12.MN.US
220 17th Avenue NEWaseca, MN 56093

(507) 837-5149

Siviq Scores

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

Liabilities / Assets

97th percentile

1.42x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

88th percentile

1.13x

Higher debt load relative to revenue than 88% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

58th percentile

11%

Higher net margin than 58% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

71st percentile

$105,211

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 4.4% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

85th percentile

38%

Faster asset growth than 85% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

73rd percentile

30%

Faster revenue growth than 73% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets97th percentile

Assets

Up

$1,901,436

Up $521,817 (+38%) from 2021

Net Assets

Up

-$797,284

Up $349,872 (+30%) from 2021

Liabilities

Up

$2,698,720

Up $171,945 (+6.8%) from 2021

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin58th percentile

Revenue

Up

$2,393,876

Up $549,501 (+30%) from 2021

Expenses

Up

$2,122,197

Up $182,864 (+9.4%) from 2021

Net Income

Up

$271,679

Up $366,637 (+386%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth85th percentile

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

$4.0M$2.0M$0-$2.0MAssets 2010: $487,051Liabilities 2010: $259,087Net Assets 2010: $227,9642010Assets 2011: $522,898Liabilities 2011: $189,589Net Assets 2011: $333,3092011Assets 2012: $573,639Liabilities 2012: $212,663Net Assets 2012: $360,9762012Assets 2013: $768,169Liabilities 2013: $140,881Net Assets 2013: $627,2882013Assets 2014: $790,334Liabilities 2014: $130,904Net Assets 2014: $659,4302014Assets 2015: $904,890Liabilities 2015: $1,158,180Net Assets 2015: -$253,2902015Assets 2016: $966,320Liabilities 2016: $1,216,294Net Assets 2016: -$249,9742016Assets 2017: $2,747,756Liabilities 2017: $3,414,849Net Assets 2017: -$667,0932017Assets 2018: $2,360,940Liabilities 2018: $3,419,245Net Assets 2018: -$1,058,3052018Assets 2019: $1,942,560Liabilities 2019: $2,702,735Net Assets 2019: -$760,1752019Assets 2020: $1,480,636Liabilities 2020: $2,449,859Net Assets 2020: -$969,2232020Assets 2021: $1,379,619Liabilities 2021: $2,526,775Net Assets 2021: -$1,147,1562021Assets 2022: $1,901,436Liabilities 2022: $2,698,720Net Assets 2022: -$797,2842022Assets 2023: $1,582,819Liabilities 2023: $2,322,063Net Assets 2023: -$739,2442023Assets 2024: $1,190,863Liabilities 2024: $1,933,267Net Assets 2024: -$742,4042024Assets 2025: $902,990Liabilities 2025: $1,667,912Net Assets 2025: -$764,9222025

Highlighted filing

2022

Assets$1,901,436
Liabilities$2,698,720
Net Assets-$797,284
Open 2022 Filing

Operations Trend

Revenue Growth73rd percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,356,5292010Revenue 2011: $1,467,086Expenses 2011: $1,361,741Net Income 2011: $105,3452011Revenue 2012: $1,506,582Expenses 2012: $1,478,915Net Income 2012: $27,6672012Expenses 2013: $1,460,0662013Revenue 2014: $1,481,330Expenses 2014: $1,449,188Net Income 2014: $32,1422014Revenue 2015: $1,729,663Expenses 2015: $2,642,383Net Income 2015: -$912,7202015Revenue 2016: $1,735,009Expenses 2016: $1,731,693Net Income 2016: $3,3162016Revenue 2017: $1,760,346Expenses 2017: $2,177,465Net Income 2017: -$417,1192017Revenue 2018: $1,813,024Expenses 2018: $2,177,704Net Income 2018: -$364,6802018Revenue 2019: $1,772,161Expenses 2019: $1,475,410Net Income 2019: $296,7512019Revenue 2020: $1,772,145Expenses 2020: $2,010,439Net Income 2020: -$238,2942020Revenue 2021: $1,844,375Expenses 2021: $1,939,333Net Income 2021: -$94,9582021Revenue 2022: $2,393,876Expenses 2022: $2,122,197Net Income 2022: $271,6792022Revenue 2023: $1,802,156Expenses 2023: $2,282,505Net Income 2023: -$480,3492023Revenue 2024: $1,916,045Expenses 2024: $2,225,363Net Income 2024: -$309,3182024Revenue 2025: $2,067,221Expenses 2025: $2,089,739Net Income 2025: -$22,5182025

Highlighted filing

2022

Revenue$2,393,876
Expenses$2,122,197
Net Income$271,679
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Feb 7, 2023
Return Version
2021v4.2
Gross Receipts
$2,393,876
Mission and Program Overview

Mission

To operate an elementary public charter school in waseca under the laws of the state of minnesota.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$509,815$469,573▼ $40,242
Accounts Receivable$286,610$286,574▼ $36
Rtn Earn Endowment Incm Other Fnds$418,830$151,009▼ $267,821
Land, Buildings, and Equipment, Net$36,279$77,891▲ $41,612
Pd in Cap Srpls Land Bldg Eqp Fund$28,289$58,631▲ $30,342
Prepaid Expenses and Deferred Charges$8,182$8,182→ $0
Cap Stk Tr Prin Current Funds$-1,594,275$-1,006,924▲ $587,351
Total Assets$1,379,619$1,901,436▲ $521,817
Other Assets Total$538,733$1,059,216▲ $520,483
Liabilities
Other Liabilities$2,047,578$1,885,667▼ $161,911
Unsecured Notes Loans Payable$286,136$657,689▲ $371,553
Accounts Payable and Accrued Expenses$178,061$155,364▼ $22,697
Deferred Revenue$15,000$0▼ $15,000
Total Liabilities$2,526,775$2,698,720▲ $171,945
Net Assets / Fund Balance
Total Net Assets Fund Balance$-1,147,156$-797,284▲ $349,872
Total Liabilities and Net Assets / Fund Balance$1,379,619$1,901,436▲ $521,817

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$77,891$130,958$208,849
Other Assets Org$604,201--
Compensation and Service Providers
Top Officer Pay71st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jill CourtneyExecutive DirectorFT$80,958$24,253$105,211
Janel SchmidtDirectorFT$63,122$10,755$73,877
Jennifer BrittainVice ChairFT$55,950$10,406$66,356
Christine HeringTreasurerFT$59,234$5,812$65,046
Denise GilbertsonDirectorFT$48,794$4,781$53,575
Polly ChristensenDirectorFT$15,405$2,930$18,335

Board Members and Trustees

NameTitle
Jed KalbowChair
Revenue and Support

Revenue Composition

Contributions and Grants
$2,349,972
Program Service Revenue
$43,700
Investment Income
$204
Other Revenue
$0
All Other Contributions
$2,390
Change in Net Assets
$271,679

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,143,961
Revenue Not Reported on Financial Statements
$249,915
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$249,915
Total Revenue per Audited Statements
$2,143,961
Total Revenue per Form 990
$2,393,876
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,441,617
Other Expenses$680,580
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$728,540$83,349-$811,889
Current Officers, Directors, Trustees, and Key Employees$393,250--$393,250
Office Expenses$223,069$13,355-$236,424
Depreciation Depletion$200,111--$200,111
Other Employee Benefits$77,793$18,945-$96,738
Payroll Taxes$65,483$9,467-$74,950
Fees for Services Other$56,044$15,119-$71,163
Pension Plan Contributions$53,833$10,957-$64,790
Interest$55,628--$55,628
Occupancy$22,222--$22,222
Fees for Services Accounting-$10,681-$10,681
Insurance$10,276--$10,276
Other Expenses$4,768--$4,768
Conferences and Meetings$4,720$43-$4,763
Information Technology$2,892$70-$2,962
Fees for Services Legal-$729-$729
Total Functional Expenses$1,959,482$162,715$0$2,122,197

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,146,542
Total Expenses per Form 990$2,122,197
Expenses per Audited Statements$1,922,086
Expenses Not Reported on Form 990$224,456
Expenses Not Reported on Financial Statements$200,111
Other Expense Adjustments$200,111
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
Deferred Pension Inflows$1,176,246
Net Pension Liability$709,421
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 4

“There were changes to the bylaws since the prior form 990 was filed. Directors now include teachers who provide instruction under contract between the charter school and a cooperative. An individual is prohibited from serving as a member of the board of directors if they or a related one are an owner or principal with an entity or contractor with whom the organization contracts. The board may only change its governance structure by a majority vote of the board of directors and majority vote of the licensed teachers employed by the organization. There also must be an authorizer's approval for changes in governance structure. The executive committee may now only serve in an advisory capacity and shall not have the authority to bind or act on behalf of the organization without ratification from the board of directors as a whole. These changes to the executive committee also apply to other committees. The chairperson of the board shall be the chairperson of the executive committee. Finally, books and records of account shall be governed by applicable law, including the minnesota government data practices act and the charter school law.”

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

“There are no committees with authority to act on behalf of the governing body.”

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

“The management of the organization review the form 990, then present it to the board for review and approval.”

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

“The conflict of interest policy covers board members, employes, officers, and agents. Management and the board of directors monitor and review any potential conflicts of interest on an on-going basis. If a conflict exists, the conflicted individual cannot participate in selecting, awarding, or administering the contract involved. Proceedings resulting from a conflict of interest are in the board minutes.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, conflict of interest policy and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Team Academy
EIN
20-1056964
Phone
5078375149
Address
220 17TH AVENUE NE, WASECA, MN 56093

Signing Officer

Name
Jill Courtney
Title
Executive Director
Phone
5078375149
Signed
2023-02-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jill Courtney
Formed
2004
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
1
Employees
36
Volunteers
1

Preparer

Firm
Cliftonlarsonallen Llp
Address
2689 COMMERCE DRIVE NW SUITE 201, ROCHESTER, MN 55901
Preparer
Katherine Lutzke CPA
Phone
5072802300
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Change in pension liability 78,193.”

FORM 990, PART XII, LINE 2C:

“The oversight process and selection of the independent accountant has not changed from the prior year.”

Financial Statement Notes

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Ppp loan forgiveness 249,915.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Repayment of lease principal 166,120. Capitalized expenditures 64,333. Change in compensated absences payable -5,997.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Depreciation expense 200,111.”

Raw XML AppendixShowing 400 of 437 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/OtherExpensesGrp/ProgramServicesAmt024011
IRS990/OtherExpensesGrp/ProgramServicesAmt119977
IRS990/OtherExpensesGrp/ProgramServicesAmt216865
IRS990/OtherExpensesGrp/ProgramServicesAmt34768
IRS990/OtherExpensesGrp/TotalAmt024011
IRS990/OtherExpensesGrp/TotalAmt119977
IRS990/OtherExpensesGrp/TotalAmt216865
IRS990/OtherExpensesGrp/TotalAmt34768
IRS990/OtherLiabilitiesGrp/BOYAmt02047578
IRS990/OtherLiabilitiesGrp/EOYAmt01885667
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt083349
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0728540
IRS990/OtherSalariesAndWagesGrp/TotalAmt0811889
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt09467
IRS990/PayrollTaxesGrp/ProgramServicesAmt065483
IRS990/PayrollTaxesGrp/TotalAmt074950
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt028289
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt058631
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt010957
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt053833
IRS990/PensionPlanContributionsGrp/TotalAmt064790
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt08182
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt08182
IRS990/PrincipalOfficerNm0JILL COURTNEY
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2611710
IRS990/ProgramServiceRevenueGrp/Desc0MEDICAL ASSISTANCE
IRS990/ProgramServiceRevenueGrp/Desc1FEES FROM PATRONS
IRS990/ProgramServiceRevenueGrp/Desc2FOOD SERVICE REVENUE
IRS990/ProgramServiceRevenueGrp/ExclusionAmt041574
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01325
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1801
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt041574
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11325
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2801
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01795951
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0300
IRS990/PYOtherExpensesAmt0548549
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt048124
IRS990/PYRevenuesLessExpensesAmt0-94958
IRS990/PYSalariesCompEmpBnftPaidAmt01390784
IRS990/PYTotalExpensesAmt01939333
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01844375
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0271679
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02126
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0418830
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0151009
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt077891
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0130958
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0208849
IRS990ScheduleD/ExpensesNotReportedAmt0224456
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0200111
IRS990ScheduleD/ExpensesSubtotalAmt01922086
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0455015
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1604201
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEFERRED PENSION OUTFLOWS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RIGHT-TO-USE EQUIPMENT, NET OF AMORTIZATION
IRS990ScheduleD/OtherExpensesIncludedAmt0224456
IRS990ScheduleD/OtherExpensesNotIncludedAmt0200111
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01176246
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1709421
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED PENSION INFLOWS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NET PENSION LIABILITY
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0249915
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0249915
IRS990ScheduleD/RevenueSubtotalAmt02143961
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PPP LOAN FORGIVENESS 249,915.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1REPAYMENT OF LEASE PRINCIPAL 166,120. CAPITALIZED EXPENDITURES 64,333. CHANGE IN COMPENSATED ABSENCES PAYABLE -5,997.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2DEPRECIATION EXPENSE 200,111.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt077891
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01059216
IRS990ScheduleD/TotalExpensesPerForm990Amt02122197
IRS990ScheduleD/TotalLiabilityAmt01885667
IRS990ScheduleD/TotalRevenuePerForm990Amt02393876
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02143961
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02146542
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/PlcyPblczdViaBroadcastMediaInd00
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0SINCE THE CHARTER SCHOOL IS A PUBLIC SCHOOL UNDER MINNESOTA STATUTES, THERE CAN BE NO RACIAL DISCRIMINATION.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1TEAM ACADEMY RECEIVES FUNDS FROM THE MINNESOTA DEPARTMENT OF EDUCATION.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE WERE CHANGES TO THE BYLAWS SINCE THE PRIOR FORM 990 WAS FILED. DIRECTORS NOW INCLUDE TEACHERS WHO PROVIDE INSTRUCTION UNDER CONTRACT BETWEEN THE CHARTER SCHOOL AND A COOPERATIVE. AN INDIVIDUAL IS PROHIBITED FROM SERVING AS A MEMBER OF THE BOARD OF DIRECTORS IF THEY OR A RELATED ONE ARE AN OWNER OR PRINCIPAL WITH AN ENTITY OR CONTRACTOR WITH WHOM THE ORGANIZATION CONTRACTS. THE BOARD MAY ONLY CHANGE ITS GOVERNANCE STRUCTURE BY A MAJORITY VOTE OF THE BOARD OF DIRECTORS AND MAJORITY VOTE OF THE LICENSED TEACHERS EMPLOYED BY THE ORGANIZATION. THERE ALSO MUST BE AN AUTHORIZER'S APPROVAL FOR CHANGES IN GOVERNANCE STRUCTURE. THE EXECUTIVE COMMITTEE MAY NOW ONLY SERVE IN AN ADVISORY CAPACITY AND SHALL NOT HAVE THE AUTHORITY TO BIND OR ACT ON BEHALF OF THE ORGANIZATION WITHOUT RATIFICATION FROM THE BOARD OF DIRECTORS AS A WHOLE. THESE CHANGES TO THE EXECUTIVE COMMITTEE ALSO APPLY TO OTHER COMMITTEES. THE CHAIRPERSON OF THE BOARD SHALL BE THE CHAIRPERSON OF THE EXECUTIVE COMMITTEE. FINALLY, BOOKS AND RECORDS OF ACCOUNT SHALL BE GOVERNED BY APPLICABLE LAW, INCLUDING THE MINNESOTA GOVERNMENT DATA PRACTICES ACT AND THE CHARTER SCHOOL LAW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE MANAGEMENT OF THE ORGANIZATION REVIEW THE FORM 990, THEN PRESENT IT TO THE BOARD FOR REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CONFLICT OF INTEREST POLICY COVERS BOARD MEMBERS, EMPLOYES, OFFICERS, AND AGENTS. MANAGEMENT AND THE BOARD OF DIRECTORS MONITOR AND REVIEW ANY POTENTIAL CONFLICTS OF INTEREST ON AN ON-GOING BASIS. IF A CONFLICT EXISTS, THE CONFLICTED INDIVIDUAL CANNOT PARTICIPATE IN SELECTING, AWARDING, OR ADMINISTERING THE CONTRACT INVOLVED. PROCEEDINGS RESULTING FROM A CONFLICT OF INTEREST ARE IN THE BOARD MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CHANGE IN PENSION LIABILITY 78,193.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE OVERSIGHT PROCESS AND SELECTION OF THE INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01379619
IRS990/TotalAssetsEOYAmt01901436
IRS990/TotalAssetsGrp/BOYAmt01379619
IRS990/TotalAssetsGrp/EOYAmt01901436
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt02349972
IRS990/TotalEmployeeCnt036
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0162715
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01959482
IRS990/TotalFunctionalExpensesGrp/TotalAmt02122197
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02526775
IRS990/TotalLiabilitiesEOYAmt02698720
IRS990/TotalLiabilitiesGrp/BOYAmt02526775
IRS990/TotalLiabilitiesGrp/EOYAmt02698720
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1147156
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-797284
IRS990/TotalOtherCompensationAmt058937
IRS990/TotalProgramServiceExpensesAmt01959482
IRS990/TotalProgramServiceRevenueAmt043700
IRS990/TotalReportableCompFromOrgAmt0323463
IRS990/TotalRevenueGrp/ExclusionAmt041778
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02126
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02393876
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt01
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01379619
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01901436
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0286136
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0657689
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0220 17TH AVENUE NE
IRS990/USAddress/CityNm0WASECA
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd056093

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,901,436
Liabilities
$2,698,720
Net assets
-$797,284
Revenue
$2,393,876
Expenses
$2,122,197
Net income
$271,679
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.90$1.67$0.76$2.07$2.09$0.02
2024Detailed filing. Detailed filing data is available for this year.$1.19$1.93$0.74$1.92$2.23$0.31
2023Detailed filing. Detailed filing data is available for this year.$1.58$2.32$0.74$1.80$2.28$0.48
2022Detailed filing. Detailed filing data is available for this year.$1.90$2.70$0.80$2.39$2.12$0.27
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.38$2.53$1.15$1.84$1.94$0.09
2020Detailed filing. Detailed filing data is available for this year.$1.48$2.45$0.97$1.77$2.01$0.24
2019Detailed filing. Detailed filing data is available for this year.$1.94$2.70$0.76$1.77$1.48$0.30
2018Detailed filing. Detailed filing data is available for this year.$2.36$3.42$1.06$1.81$2.18$0.36
2017Detailed filing. Detailed filing data is available for this year.$2.75$3.41$0.67$1.76$2.18$0.42
2016Detailed filing. Detailed filing data is available for this year.$0.97$1.22$0.25$1.74$1.73$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.90$1.16$0.25$1.73$2.64$0.91
2014Detailed filing. Detailed filing data is available for this year.$0.79$0.13$0.66$1.48$1.45$0.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.77$0.14$0.63$1.46
2012Summary only. Only limited summary data is available for this year.$0.57$0.21$0.36$1.51$1.48$0.03
2011Summary only. Only limited summary data is available for this year.$0.52$0.19$0.33$1.47$1.36$0.11
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.49$0.26$0.23$1.36