Civic Intelligence

Lionsgate Academy

990 • Fiscal year 2017 • EIN 20-8933066

Jul 01, 2016 to Jun 30, 2017 • Filed on Mar 07, 2018

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

(763) 486-6359

Siviq Scores

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

Liabilities / Assets

98th percentile

1.49x

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

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

86th percentile

1.64x

Higher debt load relative to revenue than 86% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

12th percentile

-15%

Higher net margin than 12% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

24th percentile

$104,307

Higher top officer pay than 24% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

99th percentile

379%

Faster asset growth than 99% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

69th percentile

13%

Faster revenue growth than 69% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets98th percentile

Assets

Up

$13,258,096

Up $10,488,846 (+379%) from 2016

Net Assets

Down

-$6,440,098

Down $1,791,102 (-39%) from 2016

Liabilities

Up

$19,698,194

Up $12,279,948 (+166%) from 2016

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin12th percentile

Revenue

Up

$11,993,573

Up $1,425,325 (+13%) from 2016

Expenses

Up

$13,784,675

Up $3,218,055 (+30%) from 2016

Net Income

Down

-$1,791,102

Down $1,792,730 (-110119%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth99th 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

2017

Assets$13,258,096
Liabilities$19,698,194
Net Assets-$6,440,098
Open 2017 Filing

Operations Trend

Revenue Growth69th 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

2017

Revenue$11,993,573
Expenses$13,784,675
Net Income-$1,791,102
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Mar 7, 2018
Return Version
2016v3.0
Gross Receipts
$11,993,573
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$1,199,848$1,321,963▲ $122,115
Land, Buildings, and Equipment, Net$110,177$421,420▲ $311,243
Cash and Non-Interest-Bearing Accounts-$406,690-
Pd in Cap Srpls Land Bldg Eqp Fund$76,964$360,773▲ $283,809
Prepaid Expenses and Deferred Charges$212,869$96,857▼ $116,012
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$-4,725,960$-6,800,871▼ $2,074,911
Total Assets$2,769,250$13,258,096▲ $10,488,846
Other Assets Total$1,246,356$11,011,166▲ $9,764,810
Liabilities
Other Liabilities$6,487,770$18,396,382▲ $11,908,612
Accounts Payable and Accrued Expenses$879,035$887,937▲ $8,902
Mortgage Notes Payable Secured by Investment Property$33,213$395,647▲ $362,434
Deferred Revenue$18,228$18,228→ $0
Total Liabilities$7,418,246$19,698,194▲ $12,279,948
Net Assets / Fund Balance
Total Net Assets Fund Balance$-4,648,996$-6,440,098▼ $1,791,102
Total Liabilities and Net Assets / Fund Balance$2,769,250$13,258,096▲ $10,488,846

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$286,507$9,880$296,387
Equipment$134,913$126,510$261,423
Other Assets Org$11,011,166--
Compensation and Service Providers
Top Officer Pay24th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Diane RestorffExecutive DirectorFT$89,591$14,716$104,307
Ron BergerDirector of Finance and OperationsFT$81,396$13,016$94,412
Sara BydzovskySecretaryFT$55,416$8,312$63,728
Jo SanderDirectorFT$41,707$6,256$47,963
Jim HarmsDirectorFT$37,610$5,641$43,251

Board Members and Trustees

NameTitle
Alicen ThorstadBoard Chair
Emy BachmanVice-Chair
Christine PeperDirector
Laura CottingtonDirector
Stephen SawyerDirector
Liz WielinskiTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Twin City TransportationSped Transportation1408 Northland Dr 101, Mendota Heights, MN 55120$1,499,136
Revenue and Support

Revenue Composition

Contributions and Grants
$675,793
Program Service Revenue
$11,317,139
Investment Income
$641
Other Revenue
$0
All Other Contributions
$382,733
Change in Net Assets
$-1,791,102

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,993,573
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$11,993,573
Total Revenue per Form 990
$11,993,573
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$7,621,949
Other Expenses$6,162,726
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,466,142$202,290-$5,668,432
Office Expenses$2,320,754$71,795-$2,392,549
Occupancy$1,337,602$7,994-$1,345,596
Other Employee Benefits$705,382$55,944-$761,326
Fees for Services Other$456,218--$456,218
Pension Plan Contributions$422,043$26,440-$448,483
Payroll Taxes$411,298$25,036-$436,334
Current Officers, Directors, Trustees, and Key Employees$133,091$174,283-$307,374
Fees for Services Management-$73,579-$73,579
Fees for Services Accounting-$64,480-$64,480
Conferences and Meetings$55,991$2,711-$58,702
Other Expenses$54,432$2,386-$56,818
Payments to Affiliates$36,883$12,417-$49,300
Insurance$29,505--$29,505
Depreciation Depletion$27,524--$27,524
Fees for Services Legal-$4,949-$4,949
Interest$1,678$2,740-$4,418
Information Technology$2,420--$2,420
Total Functional Expenses$13,057,631$727,044$0$13,784,675

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$13,784,675
Total Expenses per Audited Statements$13,784,675
Total Expenses per Form 990$13,784,675
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$17,924,126
Deferred inflows of resources$472,256
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 11B

“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
7634866359
Address
5605 Green Circle Drive, Minnetonka, MN 55343

Signing Officer

Name
Diane Restorff
Title
Executive Director
Phone
7634866359
Signed
2018-03-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Diane Restorff
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 2017 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, 2017.”

Raw XML AppendixShowing 400 of 471 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/Desc0Lionsgate Academy will create an educational environment that will model best instructional practices and research based techniques so that the graduates of Lionsgate Academy will - to the fullest extent possible - live independently, be involved in further education or gainful employment, and develop meaningful relationships with others. Lionsgate Academy served 184 students in grades seven through twelve during 2016-2017, its ninth year of operation.
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IRS990/GoverningBodyVotingMembersCnt09
IRS990/GovernmentGrantsAmt0290867
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt011993573
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt06
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/ProgramServicesAmt02420
IRS990/InformationTechnologyGrp/TotalAmt02420
IRS990/InsuranceGrp/ProgramServicesAmt029505
IRS990/InsuranceGrp/TotalAmt029505
IRS990/InterestGrp/ManagementAndGeneralAmt02740
IRS990/InterestGrp/ProgramServicesAmt01678
IRS990/InterestGrp/TotalAmt04418
IRS990/InvestmentIncomeGrp/ExclusionAmt0641
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0641
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt021
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0136390
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0110177
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0421420
IRS990/LandBldgEquipCostOrOtherBssAmt0557810
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/BOYAmt033213
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0395647
IRS990/NetAssetsOrFundBalancesBOYAmt0-4648996
IRS990/NetAssetsOrFundBalancesEOYAmt0-6440098
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt07994
IRS990/OccupancyGrp/ProgramServicesAmt01337602
IRS990/OccupancyGrp/TotalAmt01345596
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt071795
IRS990/OfficeExpensesGrp/ProgramServicesAmt02320754
IRS990/OfficeExpensesGrp/TotalAmt02392549
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01246356
IRS990/OtherAssetsTotalGrp/EOYAmt011011166
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt055944
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0705382
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0761326
IRS990/OtherExpensesGrp/Desc0Transportation
IRS990/OtherExpensesGrp/Desc1Food
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02386
IRS990/OtherExpensesGrp/ProgramServicesAmt01596668
IRS990/OtherExpensesGrp/ProgramServicesAmt154432
IRS990/OtherExpensesGrp/TotalAmt01596668
IRS990/OtherExpensesGrp/TotalAmt156818
IRS990/OtherLiabilitiesGrp/BOYAmt06487770
IRS990/OtherLiabilitiesGrp/EOYAmt018396382
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0202290
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt05466142
IRS990/OtherSalariesAndWagesGrp/TotalAmt05668432
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/ManagementAndGeneralAmt012417
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt036883
IRS990/PaymentsToAffiliatesGrp/TotalAmt049300
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt025036
IRS990/PayrollTaxesGrp/ProgramServicesAmt0411298
IRS990/PayrollTaxesGrp/TotalAmt0436334
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt076964
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt0360773
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt026440
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0422043
IRS990/PensionPlanContributionsGrp/TotalAmt0448483
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0212869
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt096857
IRS990/PrincipalOfficerNm0Diane Restorff
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/Desc0Federal and State sources
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt011317139
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt011317139
IRS990/ProgSrvcAccomActy2Grp/Desc0Food service program: provides meals that cater to all students nutritional needs and restrictions.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt074673
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt041024
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0463958
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt08
IRS990/PYOtherExpensesAmt03051162
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt010104282
IRS990/PYRevenuesLessExpensesAmt01628
IRS990/PYSalariesCompEmpBnftPaidAmt07515458
IRS990/PYTotalExpensesAmt010566620
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt010568248
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-1791102
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt011276115
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt0134913
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0126510
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0261423
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt013784675
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0286507
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt09880
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0296387
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt011011166
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deferred outflows of resources
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt017924126
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1472256
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Net Pension Liability
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Deferred inflows of resources
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt011993573
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, 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0421420
IRS990ScheduleD/TotalBookValueOtherAssetsAmt011011166
IRS990ScheduleD/TotalExpensesPerForm990Amt013784675
IRS990ScheduleD/TotalLiabilityAmt018396382
IRS990ScheduleD/TotalRevenuePerForm990Amt011993573
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt011993573
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt013784675
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 2017 was Novation Education Opportunities.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
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/TotalAssetsBOYAmt02769250
IRS990/TotalAssetsEOYAmt013258096
IRS990/TotalAssetsGrp/BOYAmt02769250
IRS990/TotalAssetsGrp/EOYAmt013258096
IRS990/TotalCompGreaterThan150KInd00

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$13,258,096
Liabilities
$19,698,194
Net assets
-$6,440,098
Revenue
$11,993,573
Expenses
$13,784,675
Net income
-$1,791,102
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