Civic Intelligence

Best Academy Inc.

990 • Fiscal year 2022 • EIN 26-1221063

Jul 01, 2021 to Jun 30, 2022 • Filed on May 04, 2023

Organization ProfileWWW.THEBESTACADEMY.ORG
1300 Olson Memorial HwyMinneapolis, MN 55411

(612) 381-9743

Siviq Scores

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

Liabilities / Assets

98th percentile

1.37x

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

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

83rd percentile

1.22x

Higher debt load relative to revenue than 83% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

79th percentile

29%

Higher net margin than 79% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

61st percentile

$209,216

Higher top officer pay than 61% of similar nonprofits.

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

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

92nd percentile

54%

Faster asset growth than 92% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

80th percentile

32%

Faster revenue growth than 80% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets98th percentile

Assets

Up

$16,956,196

Up $5,970,753 (+54%) from 2021

Net Assets

Up

-$6,222,748

Up $5,524,088 (+47%) from 2021

Liabilities

Up

$23,178,944

Up $446,665 (+2.0%) from 2021

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin79th percentile

Revenue

Up

$18,938,586

Up $4,595,388 (+32%) from 2021

Expenses

Down

$13,414,498

Down $874,467 (-6.1%) from 2021

Net Income

Up

$5,524,088

Up $5,469,855 (+10086%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

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

$30M$20M$10M$0-$10M-$20MAssets 2011: $1,339,485Liabilities 2011: $698,726Net Assets 2011: $640,7592011Assets 2012: $1,812,495Liabilities 2012: $694,620Net Assets 2012: $1,117,8752012Assets 2013: $2,218,655Liabilities 2013: $471,979Net Assets 2013: $1,746,6762013Assets 2014: $2,434,721Liabilities 2014: $412,959Net Assets 2014: $2,021,7622014Assets 2015: $2,621,808Liabilities 2015: $4,800,552Net Assets 2015: -$2,178,7442015Assets 2016: $5,025,413Liabilities 2016: $7,844,788Net Assets 2016: -$2,819,3752016Assets 2017: $11,984,926Liabilities 2017: $17,456,923Net Assets 2017: -$5,471,9972017Assets 2018: $15,400,377Liabilities 2018: $26,689,146Net Assets 2018: -$11,288,7692018Assets 2019: $9,458,388Liabilities 2019: $18,483,571Net Assets 2019: -$9,025,1832019Assets 2020: $9,076,682Liabilities 2020: $17,935,011Net Assets 2020: -$8,858,3292020Assets 2021: $10,985,443Liabilities 2021: $22,732,279Net Assets 2021: -$11,746,8362021Assets 2022: $16,956,196Liabilities 2022: $23,178,944Net Assets 2022: -$6,222,7482022Assets 2023: $15,163,606Liabilities 2023: $20,097,116Net Assets 2023: -$4,933,5102023Assets 2024: $12,162,385Liabilities 2024: $20,219,471Net Assets 2024: -$8,057,0862024

Highlighted filing

2022

Assets$16,956,196
Liabilities$23,178,944
Net Assets-$6,222,748
Open 2022 Filing

Operations Trend

Revenue Growth80th percentile

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

$20M$10M$0-$10MExpenses 2011: $5,668,1352011Expenses 2012: $6,395,8382012Expenses 2013: $6,561,6912013Revenue 2014: $7,623,268Expenses 2014: $7,348,182Net Income 2014: $275,0862014Revenue 2015: $9,164,233Expenses 2015: $9,750,699Net Income 2015: -$586,4662015Revenue 2016: $10,357,426Expenses 2016: $10,998,057Net Income 2016: -$640,6312016Revenue 2017: $11,871,696Expenses 2017: $14,524,318Net Income 2017: -$2,652,6222017Revenue 2018: $10,262,712Expenses 2018: $12,482,237Net Income 2018: -$2,219,5252018Revenue 2019: $12,697,027Expenses 2019: $10,133,441Net Income 2019: $2,563,5862019Revenue 2020: $13,545,061Expenses 2020: $13,378,207Net Income 2020: $166,8542020Revenue 2021: $14,343,198Expenses 2021: $14,288,965Net Income 2021: $54,2332021Revenue 2022: $18,938,586Expenses 2022: $13,414,498Net Income 2022: $5,524,0882022Revenue 2023: $16,665,161Expenses 2023: $15,159,124Net Income 2023: $1,506,0372023Revenue 2024: $16,399,242Expenses 2024: $19,509,850Net Income 2024: -$3,110,6082024

Highlighted filing

2022

Revenue$18,938,586
Expenses$13,414,498
Net Income$5,524,088
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 4, 2023
Return Version
2021v4.0
Gross Receipts
$18,938,586
Mission and Program Overview

Mission

To instruct, empower, enable and guide african american children to achieve superior academic, social and moral development.

To instruct, empower, enable and guide children to achieve superior academic, social and moral development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$353,354$7,687,012▲ $7,333,658
Pd in Cap Srpls Land Bldg Eqp Fund$353,354$7,687,012▲ $7,333,658
Other Notes and Loans Receivable, Net-$4,107,919-
Savings and Temporary Cash Investments$604,966$358,967▼ $245,999
Prepaid Expenses and Deferred Charges$262,532$178,744▼ $83,788
Cash and Non-Interest-Bearing Accounts$1,647,878$56,023▼ $1,591,855
Accounts Receivable$1,872,738$36,000▼ $1,836,738
Pledges and Grants Receivable$10,649--
Cap Stk Tr Prin Current Funds$-12,100,190$-13,909,760▼ $1,809,570
Total Assets$10,985,443$16,956,196▲ $5,970,753
Other Assets Total$6,233,326$4,531,531▼ $1,701,795
Liabilities
Other Liabilities$21,896,114$22,756,561▲ $860,447
Accounts Payable and Accrued Expenses$801,165$392,371▼ $408,794
Deferred Revenue$35,000$30,012▼ $4,988
Total Liabilities$22,732,279$23,178,944▲ $446,665
Net Assets / Fund Balance
Total Net Assets Fund Balance$-11,746,836$-6,222,748▲ $5,524,088
Total Liabilities and Net Assets / Fund Balance$10,985,443$16,956,196▲ $5,970,753

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,098,642$507,046$7,605,688
Equipment$258,877$953,347$1,212,224
Leasehold Improvements$329,493$166,199$495,692
Other Assets Org$4,531,531--
Compensation and Service Providers
Top Officer Pay61st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Eric MahmoudExecutive DiFT$183,978$25,238$209,216
Eric MahmoudExecutive Director-$183,978$25,238$209,216
Nick BoettcherBoard MemberFT$77,360$16,070$93,430
Meghan RoeggeBoard MemberFT$70,010$14,871$84,881
Layla HayowBoard MemberFT$58,038$13,005$71,043
Sarah SwansonBoard MemberFT$55,497$12,570$68,067

Board Members and Trustees

NameTitle
Ezra HylandBoard Chair
Anura Si-asarBoard Member
Deandra KnightenBoard Member
Fowsiya DahirBoard Member
Laquita LimoBoard Member
Markanetta SmithBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Formative Technologies LLCStudent Transpo959 DAYTON AVE, St Paul, MN 55104$808,005
Lavinia Group LLCProf DevelopmenPO BOX 1319, Sag Harbor, NY 11963$407,143
Designs For LearningAccounting Serv2233 UNIVERSITY AVE W, St Paul, MN 55114$347,763
Cross Town CleaningBuilding Cleani2178 GARNET POINT, Eagan, MN 55122$299,425
Cdw GovernmentTech Equipment75 REMITTANCE DRIVE SUITE 1515, Chicago, IL 60675$245,941
Revenue and Support

Revenue Composition

Contributions and Grants
$18,920,576
Program Service Revenue
$9,717
Investment Income
$2
Other Revenue
$8,291
All Other Contributions
$91,032
Change in Net Assets
$5,524,088

Audited Revenue Reconciliation

Revenue per Audited Statements
$18,938,586
Total Revenue per Audited Statements
$18,938,586
Total Revenue per Form 990
$18,938,586
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$9,446,045
Other Expenses$3,968,453
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,064,151$287,607-$7,351,758
Occupancy$961,675$136,128-$1,097,803
Fees for Services Other$866,565$122,664-$989,229
Depreciation Depletion$639,366$29,837-$669,203
Pension Plan Contributions$548,784$46,256-$595,040
Payroll Taxes$540,992$31,750-$572,742
Other Employee Benefits$455,927$39,646-$495,573
Current Officers, Directors, Trustees, and Key Employees$219,775$211,157-$430,932
Office Expenses$300,171$13,487-$313,658
Information Technology$118,282$35,531-$153,813
Fees for Services Accounting-$150,797-$150,797
Fees for Services Legal-$96,510-$96,510
Insurance$68,904--$68,904
Travel$30,069$90-$30,159
Other Expenses$2,009$16,087-$18,096
Interest$1,834--$1,834
Total Functional Expenses$12,143,921$1,270,577$0$13,414,498

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$13,414,498
Total Expenses per Audited Statements$13,414,498
Total Expenses per Form 990$13,414,498
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Lakesha Mahmoud HunterSee Part VRent & Operating CosNo$1,952,452
-See Part VSalary & Payroll ExpNo$63,844
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Inflows of Resources$9,425,293
Lease Payable$6,876,493
Pension Liability$5,410,389
Accrued Salaries and Wages$420,674
Accrued Benefits and W/h$252,573
Current Portion of Leases$228,404
Current Portion of Ltd$58,421
Accrued Interest Payable$46,036
Due to Seed Daycare$38,278
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
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, Page 6, Part VI, Line 8B

“There are no committees with authority to act on behalf of the governing body.”

Form 990, Page 6, Part VI, Line 11B

“The finance committee reviews the form 990 before it is filed”

Form 990, Page 6, Part VI, Line 12C

“The board has a written conflict of interest policy and the organization is in compliance with that policy. The chief compliance officer monitors all compliance matters and ensures that the conflict of interest policy is enforced.”

Form 990, Page 6, Part VI, Line 15A

“The salaries of school leaders are determined on an individual contract basis, based upon work experience and work performance. These salaries rae regularly compared against local school district salaries. This process was last undertaken in 2021.”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents, conflict of interest policy, form 990 and financial statements are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Best Academy Inc
EIN
26-1221063
Phone
6123819743
Address
1300 OLSON MEMORIAL HWY, MINNEAPOLIS, MN 55411
Doing Business As
Harvest Best Academy

Signing Officer

Name
Eric Mahmoud
Title
Executive Director
Phone
6123819743
Signed
2023-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Eric Mahmoud
Formed
2007
Legal Domicile
Mn
Voting Board Members
10
Independent Board Members
6
Employees
139
Volunteers
100

Preparer

Firm
Conway Deuth & Schmiesing Pllp
Address
331 3RD ST SW STE 2, WILLMAR, MN 56201-4440
Preparer
Mitchel a Hjelle CPA
Phone
3202353311
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“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 has 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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc6CURRENT PORTION OF LTD
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0A 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 HAS NO UNCERTAIN INCOME TAX POSITIONS THAT WOULD RESULT IN AN ACCRUAL, EXPENSE OR BENEFIT UNDER THE MORE LIKELY THAN NOT STANDARD.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE NONDISCRIMINATORY CLAUSE APPEARS ON HARVEST BEST ACADEMY'S BROCHURE AND APPLICATIONS FOR ADMISSION AND EMPLOYMENT.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1HARVEST BEST ACADEMY IS A PUBLIC SCHOOL THAT IS FUNDED AND SUPPORTED BY THE MINNESOTA DEPARTMENT OF EDUCATION AND THE FEDERAL GOVERNMENT.

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$16,956,196
Liabilities
$23,178,944
Net assets
-$6,222,748
Revenue
$18,938,586
Expenses
$13,414,498
Net income
$5,524,088
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$12.2$20.2$8.06$16.4$19.5$3.11
2023Detailed filing. Detailed filing data is available for this year.$15.2$20.1$4.93$16.7$15.2$1.51
2022Detailed filing. Detailed filing data is available for this year.$17.0$23.2$6.22$18.9$13.4$5.52
2021Detailed filing. Detailed filing data is available for this year.$11.0$22.7$11.7$14.3$14.3$0.05
2020Detailed filing. Detailed filing data is available for this year.$9.08$17.9$8.86$13.5$13.4$0.17
2019Detailed filing. Detailed filing data is available for this year.$9.46$18.5$9.03$12.7$10.1$2.56
2018Detailed filing. Detailed filing data is available for this year.$15.4$26.7$11.3$10.3$12.5$2.22
2017Detailed filing. Detailed filing data is available for this year.$12.0$17.5$5.47$11.9$14.5$2.65
2016Detailed filing. Detailed filing data is available for this year.$5.03$7.84$2.82$10.4$11.0$0.64
2015Detailed filing. Detailed filing data is available for this year.$2.62$4.80$2.18$9.16$9.75$0.59
2014Detailed filing. Detailed filing data is available for this year.$2.43$0.41$2.02$7.62$7.35$0.28
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.22$0.47$1.75$6.56
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.81$0.69$1.12$6.40
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.34$0.70$0.64$5.67