Liabilities / Assets
95th percentile
Higher debt load relative to assets than 95% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
1.15x
Liabilities / Revenue
87th percentile
Higher debt load relative to revenue than 87% of similar nonprofits.
Net Margin
10th percentile
Higher net margin than 10% of similar nonprofits.
Top Officer Pay
62nd percentile
Higher top officer pay than 62% of similar nonprofits.
Top officer pay equals 2.8% of source-year revenue.
Asset Growth
98th percentile
Faster asset growth than 98% of similar nonprofits.
Revenue Growth
54th percentile
Faster revenue growth than 54% of similar nonprofits.
Balance Sheet
Assets
Up$8,254,870
Up $5,129,351 (+164%) from 2016
Net Assets
Down-$1,233,552
Down $1,370,433 (-1001%) from 2016
Liabilities
Up$9,488,422
Up $6,499,784 (+217%) from 2016
Revenue And Expenses
Revenue
Up$5,254,706
Up $312,161 (+6.3%) from 2016
Expenses
Up$6,625,139
Up $1,442,800 (+28%) from 2016
Net Income
Down-$1,370,433
Down $1,130,639 (-472%) from 2016
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2016 to Jun 30, 2017
- Signed
- Apr 4, 2018
- Return Version
- 2016v3.0
- Gross Receipts
- $5,275,538
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
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Savings and Temporary Cash Investments | - | $1,056,470 | - |
| Accounts Receivable | $392,465 | $543,124 | ▲ $150,659 |
| Cash and Non-Interest-Bearing Accounts | $1,554,563 | $323,847 | ▼ $1,230,716 |
| Land, Buildings, and Equipment, Net | $155,714 | $147,321 | ▼ $8,393 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $155,714 | $147,321 | ▼ $8,393 |
| Prepaid Expenses and Deferred Charges | $171,492 | $56,390 | ▼ $115,102 |
| Rtn Earn Endowment Incm Other Fnds | $0 | $0 | → $0 |
| Cap Stk Tr Prin Current Funds | $-18,833 | $-1,380,873 | ▼ $1,362,040 |
| Total Assets | $3,125,519 | $8,254,870 | ▲ $5,129,351 |
| Other Assets Total | $851,285 | $6,127,718 | ▲ $5,276,433 |
| Liabilities | |||
| Other Liabilities | $2,703,938 | $9,227,793 | ▲ $6,523,855 |
| Accounts Payable and Accrued Expenses | $284,700 | $260,629 | ▼ $24,071 |
| Total Liabilities | $2,988,638 | $9,488,422 | ▲ $6,499,784 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $136,881 | $-1,233,552 | ▼ $1,370,433 |
| Total Liabilities and Net Assets / Fund Balance | $3,125,519 | $8,254,870 | ▲ $5,129,351 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $147,321 | $261,373 | $408,694 |
| Other Assets Org | $24,611 | - | - |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Mike Mcnulty | Executive Director | FT | $119,461 | $28,996 | $148,457 |
| Diane Sterna | Member/teacher | FT | $43,738 | $7,029 | $50,767 |
| Kristina Houglum | Member/teacher | FT | $39,928 | $9,774 | $49,702 |
| Angela Tuma | Member/teacher | FT | $41,450 | $6,676 | $48,126 |
Board Members and Trustees
| Name | Title |
|---|---|
| Misty Schutrop | Chair |
| Wade Phillips | Vice Chair |
| Kent Peterman | Member |
| Victoria Regehr | Member |
| Stephanie Smitley | Secretary |
| Noah Levie | Treasurer |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Durham Transportation INC | Student Transportation Services | 8555 FLOWER ST, Paramount, CA 90723 | $220,360 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $5,077,847
- Program Service Revenue
- $194,301
- Investment Income
- $216
- Other Revenue
- $-17,658
- All Other Contributions
- $8,841
- Change in Net Assets
- $-1,370,433
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $5,144,930
- Revenue Not Reported on Financial Statements
- $109,776
- Revenue Not Reported on Form 990
- $19,879,188
- Other Revenue Adjustments
- $109,776
- Total Revenue per Audited Statements
- $25,024,118
- Total Revenue per Form 990
- $5,254,706
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $4,425,500 |
| Other Expenses | $2,199,639 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | $1,899,091 | $319,461 | - | $2,218,552 |
| Pension Plan Contributions | $1,334,370 | $228,166 | - | $1,562,536 |
| Occupancy | $987,390 | - | - | $987,390 |
| Fees for Services Other | $362,817 | $115,780 | - | $478,597 |
| Current Officers, Directors, Trustees, and Key Employees | $131,836 | $146,444 | - | $278,280 |
| Payroll Taxes | $146,298 | $37,164 | - | $183,462 |
| Other Employee Benefits | $157,753 | $24,917 | - | $182,670 |
| Office Expenses | $87,429 | $47,880 | - | $135,309 |
| Information Technology | $38,316 | $26,118 | - | $64,434 |
| All Other Expenses | $37,015 | $7,508 | - | $44,523 |
| Depreciation Depletion | $41,834 | $793 | - | $42,627 |
| Other Expenses | $1,049 | $26,828 | - | $27,877 |
| Insurance | - | $13,372 | - | $13,372 |
| Conferences and Meetings | $10,357 | $1,315 | - | $11,672 |
| Total Functional Expenses | $5,629,393 | $995,746 | $0 | $6,625,139 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $20,603,970 |
| Expenses Not Reported on Form 990 | $15,403,267 |
| Total Expenses per Form 990 | $6,625,139 |
| Expenses per Audited Statements | $5,200,703 |
| Expenses Not Reported on Financial Statements | $1,424,436 |
| Other Expense Adjustments | $1,424,436 |
Fundraising, Events, and Gaming
- Fundraising activities
- Yes
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Fundraising Direct Expenses | $20,832 |
| Fundraising Gross Income | $0 |
| Professional Fundraising Fees | $0 |
Fundraising Events
| Event | Gross Receipts | Gross Revenue | Direct Expenses | Net Income |
|---|---|---|---|---|
| 5k | $37,664 | - | $20,832 | - |
| Total Events | $37,664 | - | $20,832 | $-20,832 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Net Pension Liability | $9,192,279 |
| Deferred Inflows of Resources Related to Pensions | $35,514 |
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
- Yes
- 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 parents, guardians and employees.”
Form 990, Part VI, Section B, Line 11B
“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.”
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.”
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
- Misty Schutrop
- Title
- Board Chair
- Phone
- 9522265940
- Signed
- 2018-04-04
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Misty Schutrop
- Formed
- 2007
- Legal Domicile
- Mn
- Voting Board Members
- 9
- Independent Board Members
- 6
- Employees
- 87
- Volunteers
- 100
Preparer
- Firm
- Bergankdv Ltd
- Address
- 3800 AMERICAN BLVD WEST SUITE 1000, MINNEAPOLIS, MN 55431-4420
- Preparer
- Theresa Goette
- Phone
- 9525636800
Supplemental Narrative
Additional Explanations
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.”
PART XI, LINE 2D - OTHER ADJUSTMENTS:
“Friends of aspen academy revenue 19,858,356. Direct fundraising expenses 20,832.”
PART XI, LINE 4B - OTHER ADJUSTMENTS:
“State aid related to pension 109,776.”
PART XII, LINE 2D - OTHER ADJUSTMENTS:
“Direct fundraising expenses 20,832. Capital outlay 34,234. Friends of aspen academy expenses 15,348,201.”
PART XII, LINE 4B - OTHER ADJUSTMENTS:
“Depreciation expense 42,627. Change in pension liabilities 1,381,809.”
Raw XML AppendixShowing 400 of 531 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/Desc | 0 | ASPEN ACADEMY OFFERS SMALL CLASS SIZES THAT PROVIDES A SENSE OF COMMUNITY. ASPEN ACADEMY PROVIDES A LITERATURE RICH, CORE KNOWLEDGE CURRICULUM WHICH INCLUDES SINGAPORE MATH. ASPEN ACADEMY HAS ELEMENTARY SPANISH, ART, MUSIC AND PHY ED PROGRAMS. AVERAGE DAILY ENROLLMENT FOR THE YEAR ENDED JUNE 30, 2017 WAS 488 STUDENTS SPREAD FROM KINDEGARTEN THROUGH EIGHTH GRADE. |
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| IRS990/GrossRentsGrp/RealAmt | 0 | 2006 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 1 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 0 |
| IRS990/IndependentVotingMemberCnt | 0 | 6 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 1 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIIInd | 0 | X |
| IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt | 0 | 26118 |
| IRS990/InformationTechnologyGrp/ProgramServicesAmt | 0 | 38316 |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 64434 |
| IRS990/InsuranceGrp/ManagementAndGeneralAmt | 0 | 13372 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 13372 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 216 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 216 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/IRPDocumentCnt | 0 | 14 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 261373 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 155714 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 147321 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 408694 |
| IRS990/LegalDomicileStateCd | 0 | MN |
| IRS990/LessRentalExpensesGrp/RealAmt | 0 | 0 |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 0 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | SEE PAGE 1, LINE 1. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 136881 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | -1233552 |
| IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt | 0 | -20832 |
| IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt | 0 | -20832 |
| IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt | 0 | 2006 |
| IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | 2006 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 987390 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 987390 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 47880 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 87429 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 135309 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrgDoesNotFollowSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 851285 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 6127718 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 24917 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 157753 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 182670 |
| IRS990/OtherExpensesGrp/Desc | 0 | STUDENT TRANSPORTATION |
| IRS990/OtherExpensesGrp/Desc | 1 | FOOD SERVICE |
| IRS990/OtherExpensesGrp/Desc | 2 | INSTRUCTIONAL SUPPLIES |
| IRS990/OtherExpensesGrp/Desc | 3 | DUES AND SUBSCRIPTIONS |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 26828 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 251720 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 88045 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 54073 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 1049 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 251720 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 88045 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 54073 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 27877 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 2703938 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 9227793 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 611710 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | MISCELLANEOUS REVENUE |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 0 | 1168 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 1168 |
| IRS990/OtherRevenueTotalAmt | 0 | 1168 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 319461 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 1899091 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 2218552 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 37164 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 146298 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 183462 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt | 0 | 155714 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt | 0 | 147321 |
| IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt | 0 | 228166 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 1334370 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 1562536 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 171492 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 56390 |
| IRS990/PrincipalOfficerNm | 0 | MISTY SCHUTROP |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 611710 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 611710 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 2 | 611710 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 3 | 611710 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | FOOD SALES TO PUPILS |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | FEES FROM PATRONS |
| IRS990/ProgramServiceRevenueGrp/Desc | 2 | TUITION REVENUE |
| IRS990/ProgramServiceRevenueGrp/Desc | 3 | MEDICAL ASSISTANCE |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 88582 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 55039 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 2 | 45200 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 3 | 5480 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 88582 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 55039 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 2 | 45200 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 3 | 5480 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 4780335 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | -1310 |
| IRS990/PYOtherExpensesAmt | 0 | 2220464 |
| IRS990/PYOtherRevenueAmt | 0 | -30777 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 194297 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -239794 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 2961875 |
| IRS990/PYTotalExpensesAmt | 0 | 5182339 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 4942545 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -1370433 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 1 |
| IRS990/RentalIncomeOrLossGrp/RealAmt | 0 | 2006 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 1 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 195469 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 0 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 0 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 1056470 |
| IRS990ScheduleA/SchoolInd | 0 | X |
| IRS990/ScheduleBRequiredInd | 0 | 0 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 147321 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 261373 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 408694 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 15403267 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 1424436 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 5200703 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 0 | 6103107 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 1 | 24611 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | DEFERRED OUTFLOWS OF RESOURCES RELATED TO PENSIONS |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 1 | DUE FROM FRIENDS OF ASPEN ACADEMY |
| IRS990ScheduleD/OtherExpensesIncludedAmt | 0 | 15403267 |
| IRS990ScheduleD/OtherExpensesNotIncludedAmt | 0 | 1424436 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 9192279 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 35514 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | NET PENSION LIABILITY |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | DEFERRED INFLOWS OF RESOURCES RELATED TO PENSIONS |
| IRS990ScheduleD/OtherRevenueAmt | 0 | 19879188 |
| IRS990ScheduleD/OtherRevenuesNotIncludedAmt | 0 | 109776 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 19879188 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 109776 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 5144930 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | 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. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | FRIENDS OF ASPEN ACADEMY REVENUE 19,858,356. DIRECT FUNDRAISING EXPENSES 20,832. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 2 | STATE AID RELATED TO PENSION 109,776. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 3 | DIRECT FUNDRAISING EXPENSES 20,832. CAPITAL OUTLAY 34,234. FRIENDS OF ASPEN ACADEMY EXPENSES 15,348,201. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 4 | DEPRECIATION EXPENSE 42,627. CHANGE IN PENSION LIABILITIES 1,381,809. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART X, LINE 2: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | PART XI, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | PART XI, LINE 4B - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | PART XII, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | PART XII, LINE 4B - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 147321 |
| IRS990ScheduleD/TotalBookValueOtherAssetsAmt | 0 | 6127718 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 6625139 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 9227793 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 5254706 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 25024118 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 20603970 |
| IRS990ScheduleE/ComplianceWithRevProc7550Ind | 0 | 1 |
| IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceAthltProgInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEducPlcyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceOtherActyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceSchsInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd | 0 | 0 |
| IRS990ScheduleE/GovernmentFinancialAidRcvdInd | 0 | 1 |
| IRS990ScheduleE/GovernmentFinancialAidRvkdInd | 0 | 0 |
| IRS990ScheduleE/MaintainCpyOfAllSolInd | 0 | 1 |
| IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd | 0 | 1 |
| IRS990ScheduleE/MaintainRacialCompRecsInd | 0 | 1 |
| IRS990ScheduleE/MaintainScholarshipsRecsInd | 0 | 1 |
| IRS990ScheduleE/NondiscriminatoryPolicyStmtInd | 0 | 1 |
| IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd | 0 | 1 |
| IRS990ScheduleE/PolicyStmtInBrochuresEtcInd | 0 | 1 |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 0 | INFORMATION PERTAINING TO THE SCHOOL'S NONDISCRIMINATORY POLICY IS AVAILABLE ON THE SCHOOL WEBSITE. |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 1 | AS A MN PUBLIC CHARTER SCHOOL, THE ACADEMY RECEIVES STATE EDUCATION AID AND FEDERAL GRANT FUNDING. |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE E, PART I, LINE 3 |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | SCHEDULE E, PART I, LINE 6 |
| IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt | 0 | 37664 |
| IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt | 0 | 37664 |
| IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt | 0 | 20832 |
| IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm | 0 | 5K |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt | 0 | 37664 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt | 0 | 37664 |
| IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt | 0 | -20832 |
| IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt | 0 | 20832 |
| IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt | 0 | 20832 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | THE BOARD OF DIRECTORS ARE NOMINATED AND VOTED ON BY PARENTS, GUARDIANS AND EMPLOYEES. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | 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. |
Document Assets
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Filings
Displayed year
2017 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $8,254,870
- Liabilities
- $9,488,422
- Net assets
- -$1,233,552
- Revenue
- $5,254,706
- Expenses
- $6,625,139
- Net income
- -$1,370,433