Civic Intelligence

Lionsgate Academy

990 • Fiscal year 2019 • EIN 20-8933066

Jul 01, 2018 to Jun 30, 2019 • Filed on May 05, 2020

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

1.63x

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

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

79th percentile

0.97x

Higher debt load relative to revenue than 79% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

75th percentile

15%

Higher net margin than 75% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

30th percentile

$123,587

Higher top officer pay than 30% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Asset Growth

7th percentile

-12%

Faster asset growth than 7% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

85th percentile

31%

Faster revenue growth than 85% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$9,726,847

Down $1,272,188 (-12%) from 2018

Net Assets

Up

-$6,167,513

Up $2,476,197 (+29%) from 2018

Liabilities

Down

$15,894,360

Down $3,748,385 (-19%) from 2018

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin75th percentile

Revenue

Up

$16,356,390

Up $3,909,104 (+31%) from 2018

Expenses

Down

$13,880,193

Down $770,705 (-5.3%) from 2018

Net Income

Up

$2,476,197

Up $4,679,809 (+212%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth7th 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

2019

Assets$9,726,847
Liabilities$15,894,360
Net Assets-$6,167,513
Open 2019 Filing

Operations Trend

Revenue Growth85th 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

2019

Revenue$16,356,390
Expenses$13,880,193
Net Income$2,476,197
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 5, 2020
Return Version
2018v3.1
Gross Receipts
$16,356,390
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$481,594$1,767,510▲ $1,285,916
Land, Buildings, and Equipment, Net$400,780$675,014▲ $274,234
Pd in Cap Srpls Land Bldg Eqp Fund$355,520$646,020▲ $290,500
Cash and Non-Interest-Bearing Accounts$897,372$294,131▼ $603,241
Prepaid Expenses and Deferred Charges$152,034$99,369▼ $52,665
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$-8,999,230$-6,813,533▲ $2,185,697
Total Assets$10,999,035$9,726,847▼ $1,272,188
Other Assets Total$9,067,255$6,890,823▼ $2,176,432
Liabilities
Other Liabilities$18,706,427$14,605,833▼ $4,100,594
Accounts Payable and Accrued Expenses$837,558$1,259,533▲ $421,975
Deferred Revenue$53,500$0▼ $53,500
Mortgage Notes Payable Secured by Investment Property$45,260$28,994▼ $16,266
Total Liabilities$19,642,745$15,894,360▼ $3,748,385
Net Assets / Fund Balance
Total Net Assets Fund Balance$-8,643,710$-6,167,513▲ $2,476,197
Total Liabilities and Net Assets / Fund Balance$10,999,035$9,726,847▼ $1,272,188

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$515,520$59,816$575,336
Equipment$159,494$104,983$264,477
Other Assets Org$6,890,823--
Compensation and Service Providers
Top Officer Pay30th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Diane HalpinExecutive DirectorFT$107,467$16,120$123,587
Ron BergerDirector of Finance and OpFT$90,157$13,524$103,681
Bradford GranDirectorFT$63,912$9,587$73,499
Rachel BellSecretaryFT$46,799$7,020$53,819
Hanna NelsenVice-ChairFT$41,279$6,192$47,471
Aaron LeisenDirector of Finance and OpFT-$3,438$3,438

Board Members and Trustees

NameTitle
Alicen ThorstadBoard Chair
Amy KunkelDirector
Emy BachmanDirector
Laura CottingtonDirector
Natalie BeazerDirector
Stephen SawyerTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Twin City TransportationSped Transportation1408 Northland Dr 101, Mendota Heights, MN 55120$2,151,140
Revenue and Support

Revenue Composition

Contributions and Grants
$638,996
Program Service Revenue
$15,709,008
Investment Income
$8,386
Other Revenue
$0
All Other Contributions
$225,608
Change in Net Assets
$2,476,197

Audited Revenue Reconciliation

Revenue per Audited Statements
$16,356,390
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$16,356,390
Total Revenue per Form 990
$16,356,390
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$10,434,604
Other Expenses$3,445,589
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,443,239$285,324-$7,728,563
Occupancy$2,005,068$3,776-$2,008,844
Other Employee Benefits$995,169$77,912-$1,073,081
Office Expenses$676,207$9,332-$685,539
Pension Plan Contributions$609,390$39,004-$648,394
Payroll Taxes$560,592$37,905-$598,497
Fees for Services Management-$426,536-$426,536
Fees for Services Other$390,487--$390,487
Current Officers, Directors, Trustees, and Key Employees$157,293$228,776-$386,069
Insurance$49,274--$49,274
Conferences and Meetings$29,870$757-$30,627
Payments to Affiliates$10,935$7,041-$17,976
Interest$1,005$5,899-$6,904
Other Expenses$-2,420,562$11,258-$-2,420,562
Total Functional Expenses$12,746,673$1,133,520$0$13,880,193

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$13,880,193
Total Expenses per Audited Statements$13,880,193
Total Expenses per Form 990$13,880,193
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
Deferred inflows of resources$8,348,665
Net Pension Liability$6,257,168
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
2020-05-05
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
255
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 2019 was Novation Education Opportunities.”

Form 990, PART IX, LINE 24E

“During the fiscal year ending June 30, 2019, changes in actuarial assumptions resulted in a significant reduction to the school's estimated pension liability, which created a "negative expense" for the current year of $2,420,562.”

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, 2019.”

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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/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/FundraisingAmt04426
IRS990/FundraisingDirectExpensesAmt00
IRS990/FundraisingGrossIncomeAmt00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt09
IRS990/GovernmentGrantsAmt0408962
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt016356390
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt06
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/ProgramServicesAmt049274
IRS990/InsuranceGrp/TotalAmt049274
IRS990/InterestGrp/ManagementAndGeneralAmt05899
IRS990/InterestGrp/ProgramServicesAmt01005
IRS990/InterestGrp/TotalAmt06904
IRS990/InvestmentIncomeGrp/ExclusionAmt08386
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt08386
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt011
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0164799
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0400780
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0675014
IRS990/LandBldgEquipCostOrOtherBssAmt0839813
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/BOYAmt045260
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt028994
IRS990/NetAssetsOrFundBalancesBOYAmt0-8643710
IRS990/NetAssetsOrFundBalancesEOYAmt0-6167513
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt03776
IRS990/OccupancyGrp/ProgramServicesAmt02005068
IRS990/OccupancyGrp/TotalAmt02008844
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt09332
IRS990/OfficeExpensesGrp/ProgramServicesAmt0676207
IRS990/OfficeExpensesGrp/TotalAmt0685539
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt09067255
IRS990/OtherAssetsTotalGrp/EOYAmt06890823
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt077912
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0995169
IRS990/OtherEmployeeBenefitsGrp/TotalAmt01073081
IRS990/OtherExpensesGrp/Desc0Transportation
IRS990/OtherExpensesGrp/Desc1Food
IRS990/OtherExpensesGrp/Desc2Pension Expense per Act
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt011258
IRS990/OtherExpensesGrp/ProgramServicesAmt02185404
IRS990/OtherExpensesGrp/ProgramServicesAmt153302
IRS990/OtherExpensesGrp/ProgramServicesAmt2-2420562
IRS990/OtherExpensesGrp/TotalAmt02185404
IRS990/OtherExpensesGrp/TotalAmt164560
IRS990/OtherExpensesGrp/TotalAmt2-2420562
IRS990/OtherLiabilitiesGrp/BOYAmt018706427
IRS990/OtherLiabilitiesGrp/EOYAmt014605833
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0285324
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt07443239
IRS990/OtherSalariesAndWagesGrp/TotalAmt07728563
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/ManagementAndGeneralAmt07041
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt010935
IRS990/PaymentsToAffiliatesGrp/TotalAmt017976
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt037905
IRS990/PayrollTaxesGrp/ProgramServicesAmt0560592
IRS990/PayrollTaxesGrp/TotalAmt0598497
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt0355520
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt0646020
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt039004
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0609390
IRS990/PensionPlanContributionsGrp/TotalAmt0648394
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0152034
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt099369
IRS990/PrincipalOfficerNm0Diane Restorff
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/Desc0Federal and State sources
IRS990/ProgramServiceRevenueGrp/Desc1Other educational purposes
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt015578337
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1130671
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt015578337
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1130671
IRS990/ProgSrvcAccomActy2Grp/Desc0Food service program: provides meals that cater to all students nutritional needs and restrictions.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0212280
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt078018
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0466316
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt03111
IRS990/PYOtherExpensesAmt06315439
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt011977859
IRS990/PYRevenuesLessExpensesAmt0-2203612
IRS990/PYSalariesCompEmpBnftPaidAmt08335459
IRS990/PYTotalExpensesAmt014650898
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt012447286
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt02476197
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt015630990
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt0159494
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0104983
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0264477
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt013880193
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0515520
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt059816
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0575336
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt06890823
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deferred outflows of resources
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt06257168
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt18348665
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Net Pension Liability
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Deferred inflows of resources
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt016356390
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, 2019.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0675014
IRS990ScheduleD/TotalBookValueOtherAssetsAmt06890823
IRS990ScheduleD/TotalExpensesPerForm990Amt013880193
IRS990ScheduleD/TotalLiabilityAmt014605833
IRS990ScheduleD/TotalRevenuePerForm990Amt016356390
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt016356390
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt013880193
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 2019 was Novation Education Opportunities.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7During the fiscal year ending June 30, 2019, changes in actuarial assumptions resulted in a significant reduction to the school's estimated pension liability, which created a "negative expense" for the current year of $2,420,562.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, PART IX, LINE 24e
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxableDistributionsInd00

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,726,847
Liabilities
$15,894,360
Net assets
-$6,167,513
Revenue
$16,356,390
Expenses
$13,880,193
Net income
$2,476,197
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