Civic Intelligence

Lionsgate Academy

990 • Fiscal year 2016 • EIN 20-8933066

Jul 01, 2015 to Jun 30, 2016 • Filed on Jan 21, 2017

Organization Profilewww.lionsgate.academy
5605 Green Circle DriveMinnetonka, MN 55343

(612) 351-4567

Siviq Scores

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

Liabilities / Assets

99th percentile

2.68x

Higher debt load relative to assets than 99% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

73rd percentile

0.70x

Higher debt load relative to revenue than 73% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

38th percentile

0.0%

Higher net margin than 38% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

26th percentile

$112,821

Higher top officer pay than 26% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

43rd percentile

0.6%

Faster asset growth than 43% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

70th percentile

11%

Faster revenue growth than 70% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets99th percentile

Assets

Up

$2,769,250

Up $15,209 (+0.6%) from 2015

Net Assets

Up

-$4,648,996

Up $1,628 (+0.0%) from 2015

Liabilities

Up

$7,418,246

Up $13,581 (+0.2%) from 2015

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin38th percentile

Revenue

Up

$10,568,248

Up $1,075,602 (+11%) from 2015

Expenses

Up

$10,566,620

Up $1,266,278 (+14%) from 2015

Net Income

Down

$1,628

Down $190,676 (-99%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

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

$40M$20M$0-$20MAssets 2011: $1,699,709Liabilities 2011: $1,269,865Net Assets 2011: $429,8442011Assets 2012: $1,536,677Liabilities 2012: $1,124,025Net Assets 2012: $412,6522012Assets 2013: $1,385,554Liabilities 2013: $965,318Net Assets 2013: $420,2362013Assets 2014: $1,665,422Liabilities 2014: $1,245,741Net Assets 2014: $419,6812014Assets 2015: $2,754,041Liabilities 2015: $7,404,665Net Assets 2015: -$4,650,6242015Assets 2016: $2,769,250Liabilities 2016: $7,418,246Net Assets 2016: -$4,648,9962016Assets 2017: $13,258,096Liabilities 2017: $19,698,194Net Assets 2017: -$6,440,0982017Assets 2018: $10,999,035Liabilities 2018: $19,642,745Net Assets 2018: -$8,643,7102018Assets 2019: $9,726,847Liabilities 2019: $15,894,360Net Assets 2019: -$6,167,5132019Assets 2020: $10,919,147Liabilities 2020: $17,668,035Net Assets 2020: -$6,748,8882020Assets 2021: $8,728,304Liabilities 2021: $16,147,450Net Assets 2021: -$7,419,1462021Assets 2022: $28,156,380Liabilities 2022: $35,781,765Net Assets 2022: -$7,625,3852022Assets 2023: $29,430,062Liabilities 2023: $37,030,221Net Assets 2023: -$7,600,1592023Assets 2024: $26,276,880Liabilities 2024: $34,875,839Net Assets 2024: -$8,598,9592024

Highlighted filing

2016

Assets$2,769,250
Liabilities$7,418,246
Net Assets-$4,648,996
Open 2016 Filing

Operations Trend

Revenue Growth70th percentile

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

$40M$30M$20M$10M$0-$10MExpenses 2011: $5,853,0342011Revenue 2012: $6,809,796Expenses 2012: $6,826,988Net Income 2012: -$17,1922012Expenses 2013: $7,421,0052013Revenue 2014: $8,430,230Expenses 2014: $8,430,785Net Income 2014: -$5552014Revenue 2015: $9,492,646Expenses 2015: $9,300,342Net Income 2015: $192,3042015Revenue 2016: $10,568,248Expenses 2016: $10,566,620Net Income 2016: $1,6282016Revenue 2017: $11,993,573Expenses 2017: $13,784,675Net Income 2017: -$1,791,1022017Revenue 2018: $12,447,286Expenses 2018: $14,650,898Net Income 2018: -$2,203,6122018Revenue 2019: $16,356,390Expenses 2019: $13,880,193Net Income 2019: $2,476,1972019Revenue 2020: $18,942,630Expenses 2020: $19,524,005Net Income 2020: -$581,3752020Revenue 2021: $20,147,818Expenses 2021: $20,818,076Net Income 2021: -$670,2582021Revenue 2022: $23,771,694Expenses 2022: $23,977,933Net Income 2022: -$206,2392022Revenue 2023: $27,214,201Expenses 2023: $27,188,975Net Income 2023: $25,2262023Revenue 2024: $30,246,256Expenses 2024: $31,245,056Net Income 2024: -$998,8002024

Highlighted filing

2016

Revenue$10,568,248
Expenses$10,566,620
Net Income$1,628
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Jan 21, 2017
Return Version
2015v3.0
Gross Receipts
$10,568,248
Mission and Program Overview

Mission

The mission of Lionsgate Academy is to foster self determination by providing a transition-focused, personalized learning program for all students, specializing in educating students with autism spectrum disorders.

Lionsgate Academy provides a transition-focused, tailored learning program for students with ASD.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$1,473,011$1,199,848▼ $273,163
Prepaid Expenses and Deferred Charges$67,575$212,869▲ $145,294
Land, Buildings, and Equipment, Net$97,162$110,177▲ $13,015
Pd in Cap Srpls Land Bldg Eqp Fund$97,162$76,964▼ $20,198
Cash and Non-Interest-Bearing Accounts-$0-
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$-4,747,786$-4,725,960▲ $21,826
Total Assets$2,754,041$2,769,250▲ $15,209
Other Assets Total$1,116,293$1,246,356▲ $130,063
Liabilities
Other Liabilities$6,326,055$6,487,770▲ $161,715
Accounts Payable and Accrued Expenses$882,305$879,035▼ $3,270
Unsecured Notes Loans Payable$181,000--
Mortgage Notes Payable Secured by Investment Property-$33,213-
Deferred Revenue$15,305$18,228▲ $2,923
Total Liabilities$7,404,665$7,418,246▲ $13,581
Net Assets / Fund Balance
Total Net Assets Fund Balance$-4,650,624$-4,648,996▲ $1,628
Total Liabilities and Net Assets / Fund Balance$2,754,041$2,769,250▲ $15,209

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$110,177$108,866$219,043
Other Assets Org$1,246,356--
Compensation and Service Providers
Top Officer Pay26th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Diane HalpinExecutive DirectorFT$98,105$14,716$112,821
Ron BergerFinance DirectorFT$86,774$13,016$99,790
Sara BydzovskySecretaryFT$54,968$8,245$63,213
Malory KosherVice-ChairFT$46,201$6,930$53,131
Jim HarmsDirectorFT$41,167$6,175$47,342

Board Members and Trustees

NameTitle
Alicen ThorstadBoard Chair
Chris KenealyDirector
Christine PeperDirector
Darren JohnsonDirector
Emy BachmanDirector
Kurt NisiTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Twin City TransportationSped Transportation1408 Northland Dr 101, Mendota Heights, MN 55120$1,204,628
Revenue and Support

Revenue Composition

Contributions and Grants
$463,958
Program Service Revenue
$10,104,282
Investment Income
$8
Other Revenue
$0
All Other Contributions
$204,272
Change in Net Assets
$1,628

Audited Revenue Reconciliation

Revenue per Audited Statements
$10,568,248
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$10,568,248
Total Revenue per Form 990
$10,568,248
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$7,515,458
Other Expenses$3,051,162
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,365,360$189,522-$5,554,882
Other Employee Benefits$639,615$55,036-$694,651
Occupancy$676,341$3,714-$680,055
Office Expenses$525,934$70,607-$596,541
Pension Plan Contributions$488,346$31,144-$519,490
Payroll Taxes$403,896$27,224-$431,120
Current Officers, Directors, Trustees, and Key Employees$131,370$183,945-$315,315
Fees for Services Management$135,423$85,230-$220,653
Fees for Services Accounting-$62,015-$62,015
Conferences and Meetings$32,992$11,719-$44,711
Payments to Affiliates$13,610$13,746-$27,356
Depreciation Depletion$18,277$1,296-$19,573
Fees for Services Other$18,499--$18,499
Information Technology$11,235$4,190-$15,425
Fees for Services Legal-$11,490-$11,490
Insurance$8,976--$8,976
Other Expenses$50,117$3,919-$3,919
Total Functional Expenses$9,811,823$754,797$0$10,566,620

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$10,566,620
Total Expenses per Audited Statements$10,566,620
Total Expenses per Form 990$10,566,620
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
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
Net Pension Liability$5,740,957
Deferred inflows of resources$746,813
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
Yes
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 B, line 11

“Distributed to all board members. Reviewed in detail by Finance Committee and presented to the board. Board approves Form 990.”

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

“Administration reminds the Board of issues that could create a conflict when such issues arise. Finance Committee regularly reviews cash disbursements.”

Form 990, Part VI, Section B, line 15

“Executive Director Review Committee reviews executive director's performance and recommends compensation to the full board annually. Lionsgate Academy performs an annual compensation review for all positions against similarly situated and sized organizations in its home metro area.”

Form 990, Part VI, Section C, line 19

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

Form 990, PART VI, SECTION A, LINE 1B:

“Several members of the board are teachers at Lionsgate Academy. Minnesota State statute 124D.10 subd. 4(g) requires the board to have at least one member that is an employed/contracted teacher.”

Filing and Contact Details

Filer

Filer Name
Lionsgate Academy
EIN
20-8933066
Phone
6123514567
Address
5605 Green Circle Drive, Minnetonka, MN 55343

Signing Officer

Name
Diane Halpin
Title
Executive Director
Phone
6123514567
Signed
2017-01-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Diane Halpin
Formed
2007
Legal Domicile
Mn
Voting Board Members
9
Independent Board Members
6
Employees
184
Volunteers
30

Preparer

Firm
Malloy Montague Karnowski Radosevich
Address
5353 Wayzata Blvd Ste 410, Minneapolis, MN 55416
Preparer
Thomas A Karnowski
Phone
9525450424
Supplemental Narrative

Additional Explanations

990 Page 12, Part XII, Line 2C:

“The board assumes the same responsibility for the financial statements it has in the past. The selection process and procedures have not changed from the prior year. The financial statements are prepared by an independent accounting firm. The statements are reviewed and approved by the board before being issued.”

Authorizer

“Lionsgate Academy is required to have an Authorizer to monitor its operations in order to maintain its charter. Lionsgate Academy's approved Authorizer during the fiscal year 2016 was Novation Education Opportunities.”

Financial Statement Notes

Part X, Line 2:

“Lionsgate Academy is exempt from income taxes under Internal Revenue Code Section 501(c)(3). Lionsgate Academy is subject to tax on income from any unrelated business; however, Lionsgate Academy has no unrelated businesses. Lionsgate Academy is subject to the recognition requirements for uncertain income tax positions as required by the Financial Accounting Standards Board (FASB) Accounting Standards Codification 740-10 (formerly known as FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes). Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by taxing authorities. Lionsgate Academy has analyzed tax positions taken for filing with the Internal Revenue Service and state jurisdiction where it operates. Lionsgate Academy believes that income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on Lionsgate Academy's financial condition, results of operations, or cash flows. Accordingly, Lionsgate Academy has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at June 30, 2016.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/GoverningBodyVotingMembersCnt09
IRS990/GovernmentGrantsAmt0255153
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt010568248
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt06
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt04190
IRS990/InformationTechnologyGrp/ProgramServicesAmt011235
IRS990/InformationTechnologyGrp/TotalAmt015425
IRS990/InsuranceGrp/ProgramServicesAmt08976
IRS990/InsuranceGrp/TotalAmt08976
IRS990/InvestmentIncomeGrp/ExclusionAmt08
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt08
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt015
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0108866
IRS990/LandBldgEquipBasisNetGrp/BOYAmt097162
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0110177
IRS990/LandBldgEquipCostOrOtherBssAmt0219043
IRS990/LegalDomicileStateCd0MN
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0The mission of Lionsgate Academy is to foster self determination by providing a transition-focused, personalized learning program for all students, specializing in educating students with autism spectrum disorders.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt033213
IRS990/NetAssetsOrFundBalancesBOYAmt0-4650624
IRS990/NetAssetsOrFundBalancesEOYAmt0-4648996
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt03714
IRS990/OccupancyGrp/ProgramServicesAmt0676341
IRS990/OccupancyGrp/TotalAmt0680055
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt070607
IRS990/OfficeExpensesGrp/ProgramServicesAmt0525934
IRS990/OfficeExpensesGrp/TotalAmt0596541
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01116293
IRS990/OtherAssetsTotalGrp/EOYAmt01246356
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt055036
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0639615
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0694651
IRS990/OtherExpensesGrp/Desc0Transportation
IRS990/OtherExpensesGrp/Desc1Food
IRS990/OtherExpensesGrp/Desc2Food
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt03919
IRS990/OtherExpensesGrp/ProgramServicesAmt01291832
IRS990/OtherExpensesGrp/ProgramServicesAmt150117
IRS990/OtherExpensesGrp/TotalAmt01291832
IRS990/OtherExpensesGrp/TotalAmt150117
IRS990/OtherExpensesGrp/TotalAmt23919
IRS990/OtherLiabilitiesGrp/BOYAmt06326055
IRS990/OtherLiabilitiesGrp/EOYAmt06487770
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0189522
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt05365360
IRS990/OtherSalariesAndWagesGrp/TotalAmt05554882
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/ManagementAndGeneralAmt013746
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt013610
IRS990/PaymentsToAffiliatesGrp/TotalAmt027356
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt027224
IRS990/PayrollTaxesGrp/ProgramServicesAmt0403896
IRS990/PayrollTaxesGrp/TotalAmt0431120
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt097162
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt076964
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt031144
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0488346
IRS990/PensionPlanContributionsGrp/TotalAmt0519490
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt067575
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0212869
IRS990/PrincipalOfficerNm0Diane Halpin
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/Desc0Federal and State sources
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt010104282
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt010104282
IRS990/ProgSrvcAccomActy2Grp/Desc0Food service program: provides meals that cater to all students nutritional needs and restrictions.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt095451
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt042821
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0388768
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01
IRS990/PYOtherExpensesAmt02432884
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt09103877
IRS990/PYRevenuesLessExpensesAmt0192304
IRS990/PYSalariesCompEmpBnftPaidAmt06867458
IRS990/PYTotalExpensesAmt09300342
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt09492646
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt01628
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt010061461
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt0110177
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0108866
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0219043
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt010566620
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01246356
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deferred outflows of resources
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05740957
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1746813
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Net Pension Liability
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Deferred inflows of resources
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt010568248
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Lionsgate Academy is exempt from income taxes under Internal Revenue Code Section 501(c)(3). Lionsgate Academy is subject to tax on income from any unrelated business; however, Lionsgate Academy has no unrelated businesses. Lionsgate Academy is subject to the recognition requirements for uncertain income tax positions as required by the Financial Accounting Standards Board (FASB) Accounting Standards Codification 740-10 (formerly known as FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes). Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by taxing authorities. Lionsgate Academy has analyzed tax positions taken for filing with the Internal Revenue Service and state jurisdiction where it operates. Lionsgate Academy believes that income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on Lionsgate Academy's financial condition, results of operations, or cash flows. Accordingly, Lionsgate Academy has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at June 30, 2016.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0110177
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01246356
IRS990ScheduleD/TotalExpensesPerForm990Amt010566620
IRS990ScheduleD/TotalLiabilityAmt06487770
IRS990ScheduleD/TotalRevenuePerForm990Amt010568248
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt010568248
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt010566620
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/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The nondiscrimination policy is available on Lionsgate Academy's website under the School policy section.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1Lionsgate Academy receives aid through the State of Minnesota for the purpose of providing education services to students.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Part I, Line 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Distributed to all board members. Reviewed in detail by Finance Committee and presented to the board. Board approves Form 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Administration reminds the Board of issues that could create a conflict when such issues arise. Finance Committee regularly reviews cash disbursements.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Executive Director Review Committee reviews executive director's performance and recommends compensation to the full board annually. Lionsgate Academy performs an annual compensation review for all positions against similarly situated and sized organizations in its home metro area.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request and on website.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The board assumes the same responsibility for the financial statements it has in the past. The selection process and procedures have not changed from the prior year. The financial statements are prepared by an independent accounting firm. The statements are reviewed and approved by the board before being issued.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Several members of the board are teachers at Lionsgate Academy. Minnesota State statute 124D.10 subd. 4(g) requires the board to have at least one member that is an employed/contracted teacher.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Lionsgate Academy is required to have an Authorizer to monitor its operations in order to maintain its charter. Lionsgate Academy's approved Authorizer during the fiscal year 2016 was Novation Education Opportunities.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4990 Page 12, Part XII, Line 2C:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, PART VI, SECTION A, LINE 1B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Authorizer
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToProxyTaxInd00
IRS990/TaxableDistributionsInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02754041
IRS990/TotalAssetsEOYAmt02769250
IRS990/TotalAssetsGrp/BOYAmt02754041
IRS990/TotalAssetsGrp/EOYAmt02769250
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0463958

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$2,769,250
Liabilities
$7,418,246
Net assets
-$4,648,996
Revenue
$10,568,248
Expenses
$10,566,620
Net income
$1,628
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$26.3$34.9$8.60$30.2$31.2$1.00
2023Detailed filing. Detailed filing data is available for this year.$29.4$37.0$7.60$27.2$27.2$0.03
2022Detailed filing. Detailed filing data is available for this year.$28.2$35.8$7.63$23.8$24.0$0.21
2021Detailed filing. Detailed filing data is available for this year.$8.73$16.1$7.42$20.1$20.8$0.67
2020Detailed filing. Detailed filing data is available for this year.$10.9$17.7$6.75$18.9$19.5$0.58
2019Detailed filing. Detailed filing data is available for this year.$9.73$15.9$6.17$16.4$13.9$2.48
2018Detailed filing. Detailed filing data is available for this year.$11.0$19.6$8.64$12.4$14.7$2.20
2017Detailed filing. Detailed filing data is available for this year.$13.3$19.7$6.44$12.0$13.8$1.79
2016Detailed filing. Detailed filing data is available for this year.$2.77$7.42$4.65$10.6$10.6$0.00
2015Detailed filing. Detailed filing data is available for this year.$2.75$7.40$4.65$9.49$9.30$0.19
2014Detailed filing. Detailed filing data is available for this year.$1.67$1.25$0.42$8.43$8.43$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.39$0.97$0.42$7.42
2012Summary only. Only limited summary data is available for this year.$1.54$1.12$0.41$6.81$6.83$0.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.70$1.27$0.43$5.85