Civic Intelligence

Partnership Academy Association

EIN 26-1120263 • 501(c)3 • Richfield, MN

Profile

To support the mission and vision of partnership academy, inc. Through the ownership of real property.

6500 Nicollet Ave SouthRichfield, MN 55423

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

96th percentile

1.14x

Higher debt load relative to assets than 96% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

14.30x

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

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

31st percentile

-1.4%

Higher net margin than 31% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

32nd percentile

$136,618

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 13.8% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

28th percentile

-1.5%

Faster asset growth than 28% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

34th percentile

0.2%

Faster revenue growth than 34% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Down

$12,400,372

Down $188,665 (-1.5%) from 2023

Liabilities

Down

$14,132,402

Down $174,767 (-1.2%) from 2023

Net Assets

Down

-$1,732,030

Down $13,898 (-0.8%) from 2023

Revenue

Up

$988,130

Up $2,335 (+0.2%) from 2023

Expenses

Up

$1,002,028

Up $15,671 (+1.6%) from 2023

Net Income

Down

-$13,898

Down $13,336 (-2373%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0-$5.0MAssets 2021: $10,304,916Liabilities 2021: $11,677,560Net Assets 2021: -$1,372,6442021Assets 2022: $12,534,472Liabilities 2022: $14,252,042Net Assets 2022: -$1,717,5702022Assets 2023: $12,589,037Liabilities 2023: $14,307,169Net Assets 2023: -$1,718,1322023Assets 2024: $12,400,372Liabilities 2024: $14,132,402Net Assets 2024: -$1,732,0302024

Highlighted filing

2024

Assets$12,400,372
Liabilities$14,132,402
Net Assets-$1,732,030

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2021: $734,911Expenses 2021: $850,685Net Income 2021: -$115,7742021Revenue 2022: $788,156Expenses 2022: $1,133,082Net Income 2022: -$344,9262022Revenue 2023: $985,795Expenses 2023: $986,357Net Income 2023: -$5622023Revenue 2024: $988,130Expenses 2024: $1,002,028Net Income 2024: -$13,8982024

Highlighted filing

2024

Revenue$988,130
Expenses$1,002,028
Net Income-$13,898

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 8, 2025
Return Version
2023v6.0
Gross Receipts
$988,130
Mission and Program Overview

Mission

To support the mission and vision of partnership academy, inc. Through the ownership of real property.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$10,709,030$10,589,289▼ $119,741
Cash and Non-Interest-Bearing Accounts$1,722,067$1,657,533▼ $64,534
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-1,718,132$-1,732,030▼ $13,898
Total Assets$12,589,037$12,400,372▼ $188,665
Other Assets Total$157,940$153,550▼ $4,390
Liabilities
Tax Exempt Bond Liabilities$13,240,000$13,100,000▼ $140,000
Mortgage Notes Payable Secured by Investment Property$520,000$520,000→ $0
Other Liabilities$459,660$512,402▲ $52,742
Accounts Payable and Accrued Expenses$87,509$0▼ $87,509
Total Liabilities$14,307,169$14,132,402▼ $174,767
Net Assets / Fund Balance
Total Net Assets Fund Balance$-1,718,132$-1,732,030▼ $13,898
Total Liabilities and Net Assets / Fund Balance$12,589,037$12,400,372▼ $188,665

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,702,813$1,193,813-
Other Land Buildings$2,586,476--
Land$1,300,000--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Lisa HendricksDirector of Finance$136,618$136,618

Board Members and Trustees

NameTitle
Julie GuyDirector/chair
Robbie BurkhartDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$919,636
Investment Income
$68,494
Other Revenue
$0
Change in Net Assets
$-13,898
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,002,028
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$706,169--$706,169
Depreciation Depletion$239,092--$239,092
Insurance$22,348--$22,348
Fees for Services Management$18,000--$18,000
All Other Expenses$16,419--$16,419
Total Functional Expenses$1,002,028$0$0$1,002,028
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Interest Payable$353,084
Due to Other Funds$159,318

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of Bethel Minnesota2018-08-23$10,801,478Charter school lease revenue bond
BCity of Bethel Minnesota2022-06-14$2,625,000Charter school lease revenue bond

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$10,801,478$201,405-$216,030
B$2,625,000--$50,000

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with 35% controlled entity
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Partnership academy, inc. Is the sole member.

Form 990, Part VI, Section A, Line 7A

The sole member has all powers available under minn. Stat. 317a.401, including, without limitation, the power to remove or appoint directors of the corporation.

Form 990, Part VI, Section A, Line 7B

The sole member has all powers available under minn. Stat. 317a.401.

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

There are no committees with the authority to act on behalf of the full board.

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

The form 990 was provided to members of the governing body for approval before filing.

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

Discussed annually at board meeting.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policy, and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Partnership Academy Association
EIN
26-1120263
Phone
6128663630
Address
6500 NICOLLET AVE SOUTH, RICHFIELD, MN 55423

Signing Officer

Name
Lisa Hendricks
Title
Director of Finance
Phone
6128663630
Signed
2025-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lisa Hendricks
Formed
2007
Legal Domicile
Mn
Voting Board Members
2
Independent Board Members
2
Employees
0
Volunteers
0

Preparer

Firm
Redpath and Company LLC
Address
400 ROBERT ST N SUITE 1600, ST PAUL, MN 55101
Preparer
Cathy a Lydon CPA
Phone
6514267000
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

A tax expense or benefit from an uncertain income tax position (including tax-exempt status) may be recognized only when it is more likely than not that the position will be sustained upon examination by taxing authorities. Management believes the school and paa have no uncertain income tax positions that would result in an accrual, expense or benefit under the more likely than not standard.

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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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IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum0086759AT4
IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum1086759AX5
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd10
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt010801478
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt12625000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0CITY OF BETHEL MINNESOTA
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt1CITY OF BETHEL MINNESOTA
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd10
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd10
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0CHARTER SCHOOL LEASE REVENUE BOND
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc1CHARTER SCHOOL LEASE REVENUE BOND
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd1B
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/PrivateBusConcerningUBIPct00.00000
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/PrivateBusConcerningUBIPct10.00000
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/PrivateBusUseByOthersPct00.00000
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/PrivateBusUseByOthersPct10.00000
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd01
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd11
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/TotalPrivateBusinessUsePct00.00000
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/TotalPrivateBusinessUsePct10.00000
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd10
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd1B
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt09593401
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt12417500
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd10
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt0684642
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt1157500
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0216030
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt150000
IRS990ScheduleK/TaxExemptBondsProceedsGrp/OtherSpentProceedsAmt0201405
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd10
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd10
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt010801478
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt12625000
IRS990ScheduleK/TaxExemptBondsProceedsGrp/WorkingCapitalExpendituresAmt0106000
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PARTNERSHIP ACADEMY, INC. IS THE SOLE MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SOLE MEMBER HAS ALL POWERS AVAILABLE UNDER MINN. STAT. 317A.401, INCLUDING, WITHOUT LIMITATION, THE POWER TO REMOVE OR APPOINT DIRECTORS OF THE CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE SOLE MEMBER HAS ALL POWERS AVAILABLE UNDER MINN. STAT. 317A.401.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE FULL BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FORM 990 WAS PROVIDED TO MEMBERS OF THE GOVERNING BODY FOR APPROVAL BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DISCUSSED ANNUALLY AT BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0PARTNERSHIP ACADEMY INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0010701608
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0CHARTER SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0305 EAST 77TH STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0RICHFIELD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd055423
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt013240000
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt013100000
IRS990/TaxExemptBondsInd01
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt012589037
IRS990/TotalAssetsEOYAmt012400372
IRS990/TotalAssetsGrp/BOYAmt012589037
IRS990/TotalAssetsGrp/EOYAmt012400372
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01002028
IRS990/TotalFunctionalExpensesGrp/TotalAmt01002028
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt014307169
IRS990/TotalLiabilitiesEOYAmt014132402
IRS990/TotalLiabilitiesGrp/BOYAmt014307169
IRS990/TotalLiabilitiesGrp/EOYAmt014132402
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1718132
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1732030

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