Civic Intelligence

Aspen Academy

990 • Fiscal year 2015 • EIN 26-1305369

Jul 01, 2014 to Jun 30, 2015 • Filed on Feb 16, 2016

Organization ProfileWWW.ASPENACADEMYMN.ORG
14825 Zinran AvenueSavage, MN 55378

(952) 226-5940

Siviq Scores

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

Liabilities / Assets

88th percentile

0.88x

Higher debt load relative to assets than 88% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

72nd percentile

0.54x

Higher debt load relative to revenue than 72% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

54th percentile

4.0%

Higher net margin than 54% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

41st percentile

$102,278

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Asset Growth

92nd percentile

45%

Faster asset growth than 92% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

69th percentile

12%

Faster revenue growth than 69% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$3,089,028

Up $965,931 (+45%) from 2014

Net Assets

Down

$376,675

Down $1,516,264 (-80%) from 2014

Liabilities

Up

$2,712,353

Up $2,482,195 (+1078%) from 2014

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin54th percentile

Revenue

Up

$5,004,836

Up $522,144 (+12%) from 2014

Expenses

Up

$4,803,413

Up $579,931 (+14%) from 2014

Net Income

Down

$201,423

Down $57,787 (-22%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

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

$10M$5.0M$0-$5.0MAssets 2011: $1,107,834Liabilities 2011: $100,577Net Assets 2011: $1,007,2572011Assets 2012: $1,478,170Liabilities 2012: $169,939Net Assets 2012: $1,308,2312012Assets 2013: $1,841,375Liabilities 2013: $207,646Net Assets 2013: $1,633,7292013Assets 2014: $2,123,097Liabilities 2014: $230,158Net Assets 2014: $1,892,9392014Assets 2015: $3,089,028Liabilities 2015: $2,712,353Net Assets 2015: $376,6752015Assets 2016: $3,125,519Liabilities 2016: $2,988,638Net Assets 2016: $136,8812016Assets 2017: $8,254,870Liabilities 2017: $9,488,422Net Assets 2017: -$1,233,5522017Assets 2018: $6,884,387Liabilities 2018: $9,440,415Net Assets 2018: -$2,556,0282018Assets 2019: $5,685,013Liabilities 2019: $7,562,770Net Assets 2019: -$1,877,7572019Assets 2020: $4,684,202Liabilities 2020: $6,863,443Net Assets 2020: -$2,179,2412020Assets 2021: $3,938,635Liabilities 2021: $6,281,614Net Assets 2021: -$2,342,9792021Assets 2022: $4,071,850Liabilities 2022: $6,244,040Net Assets 2022: -$2,172,1902022Assets 2023: $4,495,976Liabilities 2023: $5,820,968Net Assets 2023: -$1,324,9922023Assets 2024: $4,114,520Liabilities 2024: $5,103,120Net Assets 2024: -$988,6002024

Highlighted filing

2015

Assets$3,089,028
Liabilities$2,712,353
Net Assets$376,675
Open 2015 Filing

Operations Trend

Revenue Growth69th percentile

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

$10M$5.0M$0-$5.0MExpenses 2011: $1,711,1532011Expenses 2012: $2,309,9862012Expenses 2013: $3,244,4712013Revenue 2014: $4,482,692Expenses 2014: $4,223,482Net Income 2014: $259,2102014Revenue 2015: $5,004,836Expenses 2015: $4,803,413Net Income 2015: $201,4232015Revenue 2016: $4,942,545Expenses 2016: $5,182,339Net Income 2016: -$239,7942016Revenue 2017: $5,254,706Expenses 2017: $6,625,139Net Income 2017: -$1,370,4332017Revenue 2018: $5,522,134Expenses 2018: $6,844,610Net Income 2018: -$1,322,4762018Revenue 2019: $6,246,712Expenses 2019: $6,478,352Net Income 2019: -$231,6402019Revenue 2020: $6,560,281Expenses 2020: $6,482,608Net Income 2020: $77,6732020Revenue 2021: $7,812,617Expenses 2021: $7,694,926Net Income 2021: $117,6912021Revenue 2022: $8,026,895Expenses 2022: $7,986,795Net Income 2022: $40,1002022Revenue 2023: $7,906,430Expenses 2023: $7,639,776Net Income 2023: $266,6542023Revenue 2024: $8,481,380Expenses 2024: $8,319,746Net Income 2024: $161,6342024

Highlighted filing

2015

Revenue$5,004,836
Expenses$4,803,413
Net Income$201,423
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Feb 16, 2016
Return Version
2014v6.0
Gross Receipts
$5,007,884
Mission and Program Overview

Mission

SEE PAGE 1, LINE 1.

To provide students with a well-rounded and core knowledge-based education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,339,211$1,490,751▲ $151,540
Accounts Receivable$389,048$497,298▲ $108,250
Prepaid Expenses and Deferred Charges$210,894$212,918▲ $2,024
Land, Buildings, and Equipment, Net$183,944$175,633▼ $8,311
Pd in Cap Srpls Land Bldg Eqp Fund$183,944$175,633▼ $8,311
Cap Stk Tr Prin Current Funds$1,681,933$145,153▼ $1,536,780
Rtn Earn Endowment Incm Other Fnds$27,062$55,889▲ $28,827
Total Assets$2,123,097$3,089,028▲ $965,931
Other Assets Total$0$712,428▲ $712,428
Liabilities
Other Liabilities$0$2,454,672▲ $2,454,672
Accounts Payable and Accrued Expenses$229,598$257,121▲ $27,523
Deferred Revenue$560$560→ $0
Total Liabilities$230,158$2,712,353▲ $2,482,195
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,892,939$376,675▼ $1,516,264
Total Liabilities and Net Assets / Fund Balance$2,123,097$3,089,028▲ $965,931

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$175,633$184,118$359,751
Other Assets Org$712,428--
Compensation and Service Providers
Top Officer Pay41st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Cynthia SherarExecutive DirectorFT$94,750$7,528$102,278
Jeff LenzemeierMember/teacher - Partial YearFT$39,639$3,341$42,980
Cindy SpelbringMember/teacherFT$39,332$3,258$42,590
Angela TumaMember/teacherFT$38,188$3,309$41,497

Board Members and Trustees

NameTitle
Noah LevieChair
Wade PhillipsVice Chair
Laurel SmithVice Chair - Partial Year
Kent PetermanMember
Misty SchutropMember
Salli ArmourMember
Emily JaegerMember/teacher - Partial Year
Stephanie SmitleySecretary
Mike PocrnichTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Durham School ServicesStudent Transportation Services4300 WEAVER PARKWAY, Warrenville, IL 60555$188,016
Revenue and Support

Revenue Composition

Contributions and Grants
$4,805,216
Program Service Revenue
$200,245
Investment Income
$-2,930
Other Revenue
$2,305
All Other Contributions
$45,048
Change in Net Assets
$201,423

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,007,884
Revenue Not Reported on Financial Statements
$-3,048
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$-3,048
Total Revenue per Audited Statements
$5,007,884
Total Revenue per Form 990
$5,004,836
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,660,729
Other Expenses$2,142,684
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,652,015$310,948-$1,962,963
Occupancy$1,006,955--$1,006,955
Fees for Services Other$504,736$153,362-$658,098
Current Officers, Directors, Trustees, and Key Employees$132,519$103,861-$236,380
Pension Plan Contributions$153,126$15,776-$168,902
Payroll Taxes$130,651$30,547-$161,198
Other Employee Benefits$116,435$14,851-$131,286
Office Expenses$57,398$49,430-$106,828
Depreciation Depletion$43,817$352-$44,169
All Other Expenses$13,091$24,307-$37,398
Insurance-$33,308-$33,308
Other Expenses$28,333$1,434-$29,767
Travel$6,359$3,529-$9,888
Total Functional Expenses$4,057,856$745,557$0$4,803,413

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,806,461
Expenses per Audited Statements$4,803,413
Total Expenses per Form 990$4,803,413
Expenses Not Reported on Form 990$3,048
Expenses Not Reported on Financial Statements$0
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
Net Pension Liability$1,875,118
Deferred Inflows of Resources Related to Pensions$579,554
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 A, Line 7A

“The board of directors are nominated and voted on by teachers, parents, guardians and community members.”

Form 990, Part VI, Section B, Line 11

“The form 990 is prepared by an independent cpa firm and reviewed by the finance committee. A copy is provided to the board of directors for review prior to filing with the irs.”

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

“The conflict of interest policy covers all board members. The determination as to whether a conflict of interest exists is to be made by the school board. Any school board member who has an actual or potential conflict shall notify the school board of such conflict immediately. The school board member shall thereafter cooperate with the school board as necessary for the school board to make its determination. When a conflict of interest exists with a bank or savings association, the conflicted board member must disclose their interest and the interest must be documented in the minutes. When a conflict of interest exists relating to a contract for which competitive bids are not required by law, the school board member must file an affidavit containing the member's interest and the contract terms with the school board clerk, and the school board must authorize the contract in advance of its performance determining that the price is appropriate. The school board must unanimously approve interested contracts when they relate to banks/savings associations, the designation of an official newspaper, or publication of official matters, contracts with a cooperative association of which the member is a shareholder but not a manager or officer, contracts for which competitive bids are not required by law, contracts to rent space in a public facility to the school. The school board must approve insterested contracts by a majority when all members are present. When they relate to a compensating board member, the member may not earn more than $5,000 in a fiscal year.”

Form 990, Part VI, Section B, Line 15

“The board reviews the executive director's performance and uses market rate analysis to determine the compensation. The executive director uses the starting pay scale based on number of years of experience in the classroom to determine the school teachers' compensation. These processes were last undertaken in 2014.”

Form 990, Part VI, Section C, Line 19

“The governing documents, conflict of interest policy and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Aspen Academy
EIN
26-1305369
Phone
9522265940
Address
14825 ZINRAN AVENUE, SAVAGE, MN 55378

Signing Officer

Name
Mike Mcnulty
Title
Executive Director
Phone
9522265940
Signed
2016-02-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mike Mcnulty
Formed
2007
Legal Domicile
Mn
Voting Board Members
9
Independent Board Members
7
Employees
88
Volunteers
1,036

Preparer

Firm
Bergankdv Ltd
Address
3800 AMERICAN BLVD WEST SUITE 1000, MINNEAPOLIS, MN 55431-4423
Preparer
Matthew L Mayer CPA
Phone
9525636800
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Fees for services: program service expenses 504,736. Management and general expenses 153,362. Fundraising expenses 0. Total expenses 658,098.”

FORM 990, PART XI, LINE 9:

“Change in accounting principle -1,717,687.”

FORM 990, PART XI, LINE 1:

“The school follows a modified accrual method of accounting as prescribed by the minnesota department of education. The school-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Grants and similar items are recognized when all eligibility requirements imposed by the provider have been met.”

FORM 990, PART XII, LINE 2C:

“The finance committee is responsible for the selection of an independent accountant and the oversight of the financial statement audit.”

Financial Statement Notes

PART X, LINE 2:

“The academy is required to assess whether an uncertain tax position exists and if there should be recognition of a related benefit or liability in the financial statements. The academy has determined there are no amounts to record as assets or liabilities related to uncertain tax positions. Generally, the academy is no longer subject to examination by tax authorities for years before 2012.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“LOSS ON DISPOSAL -3,048.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“LOSS ON DISPOSAL 3,048.”

Raw XML AppendixShowing 400 of 490 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/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIR - PARTIAL YEAR
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5MEMBER/TEACHER
IRS990/Form990PartVIISectionAGrp/TitleTxt6MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8MEMBER/TEACHER
IRS990/Form990PartVIISectionAGrp/TitleTxt9MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10MEMBER/TEACHER - PARTIAL YEAR
IRS990/Form990PartVIISectionAGrp/TitleTxt11MEMBER/TEACHER - PARTIAL YEAR
IRS990/Form990PartVIISectionAGrp/TitleTxt12EXECUTIVE DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02007
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/SecuritiesAmt0-3048
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt09
IRS990/GovernmentGrantsAmt04760168
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt05007884
IRS990/GrossRentsGrp/RealAmt02305
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt07
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt033308
IRS990/InsuranceGrp/TotalAmt033308
IRS990/InvestmentIncomeGrp/ExclusionAmt0118
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0118
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt014
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0184118
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0183944
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0175633
IRS990/LandBldgEquipCostOrOtherBssAmt0359751
IRS990/LegalDomicileStateCd0MN
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt03048
IRS990/LessRentalExpensesGrp/RealAmt00
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingOtherInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0SEE PAGE 1, LINE 1.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt01892939
IRS990/NetAssetsOrFundBalancesEOYAmt0376675
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-3048
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-3048
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt02305
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt02305
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt01006955
IRS990/OccupancyGrp/TotalAmt01006955
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt049430
IRS990/OfficeExpensesGrp/ProgramServicesAmt057398
IRS990/OfficeExpensesGrp/TotalAmt0106828
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt0712428
IRS990/OtherChangesInNetAssetsAmt0-1717687
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt014851
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0116435
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0131286
IRS990/OtherExpensesGrp/Desc0FOOD SERVICE
IRS990/OtherExpensesGrp/Desc1SUPPLIES
IRS990/OtherExpensesGrp/Desc2EQUIPMENT
IRS990/OtherExpensesGrp/Desc3REPAIRS & MAINTENANCE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0519
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt13333
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt21434
IRS990/OtherExpensesGrp/ProgramServicesAmt083586
IRS990/OtherExpensesGrp/ProgramServicesAmt182922
IRS990/OtherExpensesGrp/ProgramServicesAmt245913
IRS990/OtherExpensesGrp/ProgramServicesAmt328333
IRS990/OtherExpensesGrp/TotalAmt084105
IRS990/OtherExpensesGrp/TotalAmt182922
IRS990/OtherExpensesGrp/TotalAmt249246
IRS990/OtherExpensesGrp/TotalAmt329767
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt02454672
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0310948
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01652015
IRS990/OtherSalariesAndWagesGrp/TotalAmt01962963
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt030547
IRS990/PayrollTaxesGrp/ProgramServicesAmt0130651
IRS990/PayrollTaxesGrp/TotalAmt0161198
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt0183944
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt0175633
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt015776
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0153126
IRS990/PensionPlanContributionsGrp/TotalAmt0168902
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0210894
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0212918
IRS990/PrincipalOfficerNm0MIKE MCNULTY
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2611710
IRS990/ProgramServiceRevenueGrp/Desc0FOOD SERVICE
IRS990/ProgramServiceRevenueGrp/Desc1TUITION REVENUE
IRS990/ProgramServiceRevenueGrp/Desc2FEES FROM PATRON
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt078403
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt167219
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt254623
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt078403
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt167219
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt254623
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt04129253
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0106
IRS990/PYOtherExpensesAmt01857234
IRS990/PYOtherRevenueAmt050986
IRS990/PYProgramServiceRevenueAmt0302347
IRS990/PYRevenuesLessExpensesAmt0259210
IRS990/PYSalariesCompEmpBnftPaidAmt02366248
IRS990/PYTotalExpensesAmt04223482
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt04482692
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0201423
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt02305
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0200245
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt027062
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt055889
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt0175633
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0184118
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0359751
IRS990ScheduleD/ExpensesNotReportedAmt03048
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt04803413
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0712428
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEFERRED OUTFLOWS OF RESOURCES RELATED TO PENSONS
IRS990ScheduleD/OtherExpensesIncludedAmt03048
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01875118
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1579554
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NET PENSION LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED INFLOWS OF RESOURCES RELATED TO PENSIONS
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-3048
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-3048
IRS990ScheduleD/RevenueSubtotalAmt05007884
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ACADEMY IS REQUIRED TO ASSESS WHETHER AN UNCERTAIN TAX POSITION EXISTS AND IF THERE SHOULD BE RECOGNITION OF A RELATED BENEFIT OR LIABILITY IN THE FINANCIAL STATEMENTS. THE ACADEMY HAS DETERMINED THERE ARE NO AMOUNTS TO RECORD AS ASSETS OR LIABILITIES RELATED TO UNCERTAIN TAX POSITIONS. GENERALLY, THE ACADEMY IS NO LONGER SUBJECT TO EXAMINATION BY TAX AUTHORITIES FOR YEARS BEFORE 2012.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1LOSS ON DISPOSAL -3,048.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2LOSS ON DISPOSAL 3,048.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0175633
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0712428
IRS990ScheduleD/TotalExpensesPerForm990Amt04803413
IRS990ScheduleD/TotalLiabilityAmt02454672
IRS990ScheduleD/TotalRevenuePerForm990Amt05004836
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05007884
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04806461
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/ExplanationTxt0INFORMATION PERTAINING TO THE SCHOOL'S NONDISCRIMINATORY POLICY IS AVAILABLE ON THE SCHOOL WEBSITE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL RECEIVES FEDERAL AND STATE FUNDING.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS ARE NOMINATED AND VOTED ON BY TEACHERS, PARENTS, GUARDIANS AND COMMUNITY MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PREPARED BY AN INDEPENDENT CPA FIRM AND REVIEWED BY THE FINANCE COMMITTEE. A COPY IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST POLICY COVERS ALL BOARD MEMBERS. THE DETERMINATION AS TO WHETHER A CONFLICT OF INTEREST EXISTS IS TO BE MADE BY THE SCHOOL BOARD. ANY SCHOOL BOARD MEMBER WHO HAS AN ACTUAL OR POTENTIAL CONFLICT SHALL NOTIFY THE SCHOOL BOARD OF SUCH CONFLICT IMMEDIATELY. THE SCHOOL BOARD MEMBER SHALL THEREAFTER COOPERATE WITH THE SCHOOL BOARD AS NECESSARY FOR THE SCHOOL BOARD TO MAKE ITS DETERMINATION. WHEN A CONFLICT OF INTEREST EXISTS WITH A BANK OR SAVINGS ASSOCIATION, THE CONFLICTED BOARD MEMBER MUST DISCLOSE THEIR INTEREST AND THE INTEREST MUST BE DOCUMENTED IN THE MINUTES. WHEN A CONFLICT OF INTEREST EXISTS RELATING TO A CONTRACT FOR WHICH COMPETITIVE BIDS ARE NOT REQUIRED BY LAW, THE SCHOOL BOARD MEMBER MUST FILE AN AFFIDAVIT CONTAINING THE MEMBER'S INTEREST AND THE CONTRACT TERMS WITH THE SCHOOL BOARD CLERK, AND THE SCHOOL BOARD MUST AUTHORIZE THE CONTRACT IN ADVANCE OF ITS PERFORMANCE DETERMINING THAT THE PRICE IS APPROPRIATE. THE SCHOOL BOARD MUST UNANIMOUSLY APPROVE INTERESTED CONTRACTS WHEN THEY RELATE TO BANKS/SAVINGS ASSOCIATIONS, THE DESIGNATION OF AN OFFICIAL NEWSPAPER, OR PUBLICATION OF OFFICIAL MATTERS, CONTRACTS WITH A COOPERATIVE ASSOCIATION OF WHICH THE MEMBER IS A SHAREHOLDER BUT NOT A MANAGER OR OFFICER, CONTRACTS FOR WHICH COMPETITIVE BIDS ARE NOT REQUIRED BY LAW, CONTRACTS TO RENT SPACE IN A PUBLIC FACILITY TO THE SCHOOL. THE SCHOOL BOARD MUST APPROVE INSTERESTED CONTRACTS BY A MAJORITY WHEN ALL MEMBERS ARE PRESENT. WHEN THEY RELATE TO A COMPENSATING BOARD MEMBER, THE MEMBER MAY NOT EARN MORE THAN $5,000 IN A FISCAL YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD REVIEWS THE EXECUTIVE DIRECTOR'S PERFORMANCE AND USES MARKET RATE ANALYSIS TO DETERMINE THE COMPENSATION. THE EXECUTIVE DIRECTOR USES THE STARTING PAY SCALE BASED ON NUMBER OF YEARS OF EXPERIENCE IN THE CLASSROOM TO DETERMINE THE SCHOOL TEACHERS' COMPENSATION. THESE PROCESSES WERE LAST UNDERTAKEN IN 2014.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FEES FOR SERVICES: PROGRAM SERVICE EXPENSES 504,736. MANAGEMENT AND GENERAL EXPENSES 153,362. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 658,098.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CHANGE IN ACCOUNTING PRINCIPLE -1,717,687.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE SCHOOL FOLLOWS A MODIFIED ACCRUAL METHOD OF ACCOUNTING AS PRESCRIBED BY THE MINNESOTA DEPARTMENT OF EDUCATION. THE SCHOOL-WIDE FINANCIAL STATEMENTS ARE REPORTED USING THE ECONOMIC RESOURCES MEASUREMENT FOCUS AND THE ACCRUAL BASIS OF ACCOUNTING. GRANTS AND SIMILAR ITEMS ARE RECOGNIZED WHEN ALL ELIGIBILITY REQUIREMENTS IMPOSED BY THE PROVIDER HAVE BEEN MET.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE FINANCE COMMITTEE IS RESPONSIBLE FOR THE SELECTION OF AN INDEPENDENT ACCOUNTANT AND THE OVERSIGHT OF THE FINANCIAL STATEMENT AUDIT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 7A

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,089,028
Liabilities
$2,712,353
Net assets
$376,675
Revenue
$5,004,836
Expenses
$4,803,413
Net income
$201,423
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.11$5.10$0.99$8.48$8.32$0.16
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.50$5.82$1.32$7.91$7.64$0.27
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.07$6.24$2.17$8.03$7.99$0.04
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.94$6.28$2.34$7.81$7.69$0.12
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.68$6.86$2.18$6.56$6.48$0.08
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.69$7.56$1.88$6.25$6.48$0.23
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.88$9.44$2.56$5.52$6.84$1.32
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.25$9.49$1.23$5.25$6.63$1.37
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.13$2.99$0.14$4.94$5.18$0.24
2015Detailed filing. Detailed filing data is available for this year.$3.09$2.71$0.38$5.00$4.80$0.20
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.12$0.23$1.89$4.48$4.22$0.26
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.84$0.21$1.63$3.24
2012XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.48$0.17$1.31$2.31
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.11$0.10$1.01$1.71
Peer Organizations

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