Civic Intelligence

Partnership Academy Association

990 • Fiscal year 2021 • EIN 26-1120263

Jul 01, 2020 to Jun 30, 2021 • Filed on Apr 19, 2022

Organization ProfileN/A
6500 Nicollet Ave SouthRichfield, MN 55423

(612) 866-3630

Siviq Scores

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

Liabilities / Assets

96th percentile

1.13x

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

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

98th percentile

15.89x

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

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

9th percentile

-16%

Higher net margin than 9% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

38th percentile

$141,578

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 19.3% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Balance Sheet
Liabilities / Assets96th percentile

Assets

$10,304,916

No earlier filing loaded for comparison.

Net Assets

-$1,372,644

No earlier filing loaded for comparison.

Liabilities

$11,677,560

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin9th percentile

Revenue

$734,911

No earlier filing loaded for comparison.

Expenses

$850,685

No earlier filing loaded for comparison.

Net Income

-$115,774

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$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

2021

Assets$10,304,916
Liabilities$11,677,560
Net Assets-$1,372,644
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this 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

2021

Revenue$734,911
Expenses$850,685
Net Income-$115,774
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Apr 19, 2022
Return Version
2020v4.2
Gross Receipts
$734,911
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$8,898,251$8,720,089▼ $178,162
Cash and Non-Interest-Bearing Accounts$1,231,826$1,256,467▲ $24,641
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-1,256,870$-1,372,644▼ $115,774
Total Assets$10,444,987$10,304,916▼ $140,071
Other Assets Total$314,910$328,360▲ $13,450
Liabilities
Tax Exempt Bond Liabilities$10,835,000$10,835,000→ $0
Mortgage Notes Payable Secured by Investment Property$520,000$520,000→ $0
Other Liabilities$331,947$322,560▼ $9,387
Accounts Payable and Accrued Expenses$14,910$0▼ $14,910
Total Liabilities$11,701,857$11,677,560▼ $24,297
Net Assets / Fund Balance
Total Net Assets Fund Balance$-1,256,870$-1,372,644▼ $115,774
Total Liabilities and Net Assets / Fund Balance$10,444,987$10,304,916▼ $140,071

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,420,089$476,537$7,896,626
Land$1,300,000-$1,300,000
Compensation and Service Providers
Top Officer Pay38th percentile

Employees

NameTitleOtherTotal
Lisa HendricksExecutive Director$141,578$141,578

Board Members and Trustees

NameTitle
Holly SwansonPresident/treasurer
Julie GuyDirector
Barbara NovySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$719,369
Investment Income
$15,542
Other Revenue
$0
Change in Net Assets
$-115,774
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$850,685
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$569,369--$569,369
Depreciation Depletion$239,092--$239,092
Fees for Services Management$24,525--$24,525
Insurance$13,409--$13,409
All Other Expenses$2,617--$2,617
Occupancy$1,673--$1,673
Total Functional Expenses$850,685$0$0$850,685
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$284,684
Due to Other Funds$37,876

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of Bethel Minnesota2018-08-23$10,801,478Charter school lease revenue bond

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$10,801,478$201,405-$216,030

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
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
Executive Director
Phone
6128663630
Signed
2022-04-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lisa Hendricks
Formed
2007
Legal Domicile
Mn
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Redpath and Company Ltd
Address
4810 WHITE BEAR PARKWAY, WHITE BEAR LAKE, MN 55110
Preparer
Ashley Rehn 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/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0216030
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd00
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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
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0CHARTER SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0305 EAST 77TH STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0RICHFIELD
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IRS990ScheduleR/PaidEmployeesSharingInd01
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IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
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IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt010835000
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IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt010444987
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IRS990/TotalAssetsGrp/BOYAmt010444987
IRS990/TotalAssetsGrp/EOYAmt010304916
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0850685
IRS990/TotalFunctionalExpensesGrp/TotalAmt0850685
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt011701857
IRS990/TotalLiabilitiesEOYAmt011677560
IRS990/TotalLiabilitiesGrp/BOYAmt011701857
IRS990/TotalLiabilitiesGrp/EOYAmt011677560
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1256870
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1372644
IRS990/TotalOtherCompensationAmt010645
IRS990/TotalProgramServiceExpensesAmt0850685
IRS990/TotalProgramServiceRevenueAmt0719369
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt015542
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0719369
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0734911
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
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IRS990/VotingMembersGoverningBodyCnt03
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IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,304,916
Liabilities
$11,677,560
Net assets
-$1,372,644
Revenue
$734,911
Expenses
$850,685
Net income
-$115,774
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$12.4$14.1$1.73$0.99$1.00$0.01
2023Detailed filing. Detailed filing data is available for this year.$12.6$14.3$1.72$0.99$0.99$0.00
2022Detailed filing. Detailed filing data is available for this year.$12.5$14.3$1.72$0.79$1.13$0.34
2021Detailed filing. Detailed filing data is available for this year.$10.3$11.7$1.37$0.73$0.85$0.12
Peer Organizations

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