Civic Intelligence

Great Expectations Foundation

990 • Fiscal year 2016 • EIN 20-5931949

Jul 01, 2015 to Jun 30, 2016 • Filed on May 12, 2017

Organization ProfileWWW.GREATEXPECTATIONSSCHOOL.COM
PO Box 310Grand Marais, MN 55604

(218) 370-0777

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.92x

Higher debt load relative to assets than 92% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

98th percentile

6.88x

Higher debt load relative to revenue than 98% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Net Margin

73rd percentile

14%

Higher net margin than 73% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

39th percentile

-1.0%

Faster asset growth than 39% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

36th percentile

-3.2%

Faster revenue growth than 36% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Down

$757,170

Down $7,923 (-1.0%) from 2015

Net Assets

Up

$62,072

Up $15,507 (+33%) from 2015

Liabilities

Down

$695,098

Down $23,430 (-3.3%) from 2015

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin73rd percentile

Revenue

Down

$101,004

Down $3,380 (-3.2%) from 2015

Expenses

Down

$86,590

Down $3,519 (-3.9%) from 2015

Net Income

Up

$14,414

Up $139 (+1.0%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth39th percentile

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

$6.0M$4.0M$2.0M$0Assets 2011: $825,702Liabilities 2011: $824,707Net Assets 2011: $9952011Assets 2012: $817,231Liabilities 2012: $809,042Net Assets 2012: $8,1892012Assets 2013: $775,223Liabilities 2013: $761,011Net Assets 2013: $14,2122013Assets 2014: $763,894Liabilities 2014: $740,507Net Assets 2014: $23,3872014Assets 2015: $765,093Liabilities 2015: $718,528Net Assets 2015: $46,5652015Assets 2016: $757,170Liabilities 2016: $695,098Net Assets 2016: $62,0722016Assets 2017: $833,831Liabilities 2017: $737,633Net Assets 2017: $96,1982017Assets 2018: $909,070Liabilities 2018: $755,802Net Assets 2018: $153,2682018Assets 2019: $933,925Liabilities 2019: $695,590Net Assets 2019: $238,3352019Assets 2020: $962,271Liabilities 2020: $649,373Net Assets 2020: $312,8982020Assets 2021: $991,627Liabilities 2021: $627,072Net Assets 2021: $364,5552021Assets 2022: $1,037,068Liabilities 2022: $574,059Net Assets 2022: $463,0092022Assets 2023: $1,214,141Liabilities 2023: $540,404Net Assets 2023: $673,7372023Assets 2024: $3,824,998Liabilities 2024: $3,006,286Net Assets 2024: $818,7122024Assets 2025: $4,865,282Liabilities 2025: $3,883,076Net Assets 2025: $982,2062025

Highlighted filing

2016

Assets$757,170
Liabilities$695,098
Net Assets$62,072
Open 2016 Filing

Operations Trend

Revenue Growth36th percentile

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

$600K$400K$200K$0Revenue 2011: $93,399Expenses 2011: $88,957Net Income 2011: $4,4422011Expenses 2012: $80,7092012Expenses 2013: $90,7162013Revenue 2014: $99,358Expenses 2014: $90,183Net Income 2014: $9,1752014Revenue 2015: $104,384Expenses 2015: $90,109Net Income 2015: $14,2752015Revenue 2016: $101,004Expenses 2016: $86,590Net Income 2016: $14,4142016Revenue 2017: $118,991Expenses 2017: $84,865Net Income 2017: $34,1262017Revenue 2018: $163,362Expenses 2018: $106,292Net Income 2018: $57,0702018Revenue 2019: $178,234Expenses 2019: $93,167Net Income 2019: $85,0672019Revenue 2020: $176,917Expenses 2020: $102,354Net Income 2020: $74,5632020Revenue 2021: $155,505Expenses 2021: $103,848Net Income 2021: $51,6572021Revenue 2022: $201,218Expenses 2022: $84,473Net Income 2022: $116,7452022Revenue 2023: $279,470Expenses 2023: $68,742Net Income 2023: $210,7282023Revenue 2024: $261,305Expenses 2024: $116,330Net Income 2024: $144,9752024Revenue 2025: $459,256Expenses 2025: $295,762Net Income 2025: $163,4942025

Highlighted filing

2016

Revenue$101,004
Expenses$86,590
Net Income$14,414
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 12, 2017
Return Version
2015v3.0
Gross Receipts
$104,943
Mission and Program Overview

Mission

The mission of the great expectations foundation is to provide financial support, leadership support and community support for the great expectations school and its public supported affiliates.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$697,935$682,325▼ $15,610
Cash and Non-Interest-Bearing Accounts$32,552$38,003▲ $5,451
Intangible Assets$27,630$26,073▼ $1,557
Other Notes and Loans Receivable, Net-$5,000-
Pledges and Grants Receivable$6,153$4,946▼ $1,207
Prepaid Expenses and Deferred Charges$823$823→ $0
Total Assets$765,093$757,170▼ $7,923
Liabilities
Mortgage Notes Payable Secured by Investment Property$714,425$691,129▼ $23,296
Accounts Payable and Accrued Expenses$4,103$3,969▼ $134
Total Liabilities$718,528$695,098▼ $23,430
Net Assets / Fund Balance
Unrestricted Net Assets$37,662$52,076▲ $14,414
Temporarily Rstr Net Assets$8,903$9,996▲ $1,093
Total Net Assets Fund Balance$46,565$62,072▲ $15,507
Total Liabilities and Net Assets / Fund Balance$765,093$757,170▼ $7,923

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$482,325$121,055-
Land$200,000--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Karen BlackburnBoard Chair
Justin PszwaroSecretary
Janet HealyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$48
Program Service Revenue
$88,080
Investment Income
$40
Other Revenue
$12,836
All Other Contributions
$48
Change in Net Assets
$14,414
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$73,254
Grants and Similar Amounts Paid$13,336
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$52,987--$52,987
Depreciation Depletion$15,610--$15,610
Grants to Domestic Orgs$13,336--$13,336
Fees for Services Accounting-$2,550-$2,550
Conferences and Meetings$446--$446
Office Expenses-$50-$50
Other Expenses$9--$9
Total Functional Expenses$83,990$2,600$0$86,590
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Great Expectations Charter SchoolGrand Marais, MN--$13,336
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$16,775
Fundraising Direct Expenses$3,939
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Plant Sales$13,841$13,841$2,203$11,638
Total Events$13,841$13,841$2,203$11,638
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Great Expectations Foundation
EIN
20-5931949
Phone
2183700777
Address
PO BOX 310, GRAND MARAIS, MN 55604

Signing Officer

Name
Karen Blackburn
Title
Board Chair
Phone
2183700777
Signed
2017-05-12

Organization Details

Principal Officer
Karen Blackburn
Formed
2007
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Licari Larsen and Company
Address
121 1ST AVE W, GRAND MARAIS, MN 55604-3130
Preparer
Raquel Berg
Phone
2183871180
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“The foundation owns the land and building rented for the exclusive use of the great expectations school, a public charter school with approximately 6o students grades k-8.”

Form 990, Part XI, Line 9

“Restricted funds 1,093 total 1,093”

Raw XML Appendix321 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION OWNS THE LAND AND BUILDING RENTED FOR THE EXCLUSIVE USE OF THE GREAT EXPECTATIONS SCHOOL, A PUBLIC CHARTER SCHOOL WITH APPROXIMATELY 6O STUDENTS GRADES K-8.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3RESTRICTED FUNDS 1,093 TOTAL 1,093
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
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IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0718528
IRS990/TotalLiabilitiesEOYAmt0695098
IRS990/TotalLiabilitiesGrp/BOYAmt0718528
IRS990/TotalLiabilitiesGrp/EOYAmt0695098
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt046565
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt062072
IRS990/TotalOtherProgSrvcExpenseAmt028946
IRS990/TotalOtherProgSrvcGrantAmt013336
IRS990/TotalProgramServiceExpensesAmt083990
IRS990/TotalProgramServiceRevenueAmt088080
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt088120
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0101004
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0765093
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0757170
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt037662
IRS990/UnrestrictedNetAssetsGrp/EOYAmt052076
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 1217
IRS990/USAddress/CityNm0GRAND MARAIS
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055604
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.GREATEXPECTATIONSSCHOOL.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0KAREN BLACKBURN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum02183700777
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GREAT EXPECTATIONS FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0GREA
ReturnHeader/Filer/EIN0205931949
ReturnHeader/Filer/PhoneNum02183700777
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 310
ReturnHeader/Filer/USAddress/CityNm0GRAND MARAIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055604
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411806729
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LICARI LARSEN AND COMPANY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0121 1ST AVE W
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GRAND MARAIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0556043130
ReturnHeader/PreparerPersonGrp/PhoneNum02183871180
ReturnHeader/PreparerPersonGrp/PreparationDt02017-05-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RAQUEL BERG
ReturnHeader/ReturnTs02017-05-12T12:37:16-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$757,170
Liabilities
$695,098
Net assets
$62,072
Revenue
$101,004
Expenses
$86,590
Net income
$14,414
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.87$3.88$0.98$0.46$0.30$0.16
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.82$3.01$0.82$0.26$0.12$0.14
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.21$0.54$0.67$0.28$0.07$0.21
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.04$0.57$0.46$0.20$0.08$0.12
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.99$0.63$0.36$0.16$0.10$0.05
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.96$0.65$0.31$0.18$0.10$0.07
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.93$0.70$0.24$0.18$0.09$0.09
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.91$0.76$0.15$0.16$0.11$0.06
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.83$0.74$0.10$0.12$0.08$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.76$0.70$0.06$0.10$0.09$0.01
2015Summary only. Only limited summary data is available for this year.$0.77$0.72$0.05$0.10$0.09$0.01
2014Summary only. Only limited summary data is available for this year.$0.76$0.74$0.02$0.10$0.09$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.78$0.76$0.01$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.82$0.81$0.01$0.08
2011Summary only. Only limited summary data is available for this year.$0.83$0.82$0.00$0.09$0.09$0.00