Liabilities / Assets
97th percentile
Higher debt load relative to assets than 97% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
1.29x
Liabilities / Revenue
79th percentile
Higher debt load relative to revenue than 79% of similar nonprofits.
Net Margin
49th percentile
Higher net margin than 49% of similar nonprofits.
Top Officer Pay
55th percentile
Higher top officer pay than 55% of similar nonprofits.
Top officer pay equals 1.7% of source-year revenue.
Asset Growth
63rd percentile
Faster asset growth than 63% of similar nonprofits.
Revenue Growth
36th percentile
Faster revenue growth than 36% of similar nonprofits.
Balance Sheet
Assets
Up$4,495,976
Up $424,126 (+10%) from 2022
Net Assets
Up-$1,324,992
Up $847,198 (+39%) from 2022
Liabilities
Down$5,820,968
Down $423,072 (-6.8%) from 2022
Revenue And Expenses
Revenue
Down$7,906,430
Down $120,465 (-1.5%) from 2022
Expenses
Down$7,639,776
Down $347,019 (-4.3%) from 2022
Net Income
Up$266,654
Up $226,554 (+565%) from 2022
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2022 to Jun 30, 2023
- Signed
- May 7, 2024
- Return Version
- 2022v5.0
- Gross Receipts
- $7,906,430
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 | |||
| Accounts Receivable | $661,220 | $1,104,288 | ▲ $443,068 |
| Savings and Temporary Cash Investments | $1,114,252 | $947,334 | ▼ $166,918 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $367,817 | $519,114 | ▲ $151,297 |
| Land, Buildings, and Equipment, Net | $367,817 | $385,322 | ▲ $17,505 |
| Cash and Non-Interest-Bearing Accounts | $193,803 | $255,769 | ▲ $61,966 |
| Prepaid Expenses and Deferred Charges | $12,772 | $27,707 | ▲ $14,935 |
| Rtn Earn Endowment Incm Other Fnds | $0 | $0 | → $0 |
| Cap Stk Tr Prin Current Funds | $-2,540,007 | $-1,844,106 | ▲ $695,901 |
| Total Assets | $4,071,850 | $4,495,976 | ▲ $424,126 |
| Other Assets Total | $1,721,986 | $1,775,556 | ▲ $53,570 |
| Liabilities | |||
| Other Liabilities | $5,750,191 | $5,247,498 | ▼ $502,693 |
| Accounts Payable and Accrued Expenses | $493,849 | $573,470 | ▲ $79,621 |
| Total Liabilities | $6,244,040 | $5,820,968 | ▼ $423,072 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $-2,172,190 | $-1,324,992 | ▲ $847,198 |
| Total Liabilities and Net Assets / Fund Balance | $4,071,850 | $4,495,976 | ▲ $424,126 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $385,322 | $523,792 | $909,114 |
| Other Assets Org | $133,792 | - | - |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Melanie Jiskra | Executive Director | FT | $125,657 | $10,386 | $136,043 |
| Brandy Mosser | Member | - | $59,976 | $10,472 | $70,448 |
| Rachel Mong | Member/teacher | FT | $44,827 | $4,006 | $48,833 |
| Stephanie Smitley | Secretary/teacher | FT | $29,268 | $2,472 | $31,740 |
Board Members and Trustees
| Name | Title |
|---|---|
| Michael Faulise | Chair |
| Andrew Price | Vice Chair |
| Chris Dicapo | Member |
| Robert Allison | Treasurer |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Trio Community Meals | Food Service Vendor | PO BOX 742992, Atlanta, GA 30374 | $172,257 |
| Prior Lake School Bus Association | Transportation | 5823 GRANITE COURT, Prior Lake, MN 55372 | $153,342 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $7,552,387
- Program Service Revenue
- $316,182
- Investment Income
- $24
- Other Revenue
- $37,837
- All Other Contributions
- $106,285
- Change in Net Assets
- $266,654
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $4,495,012 |
| Other Expenses | $3,144,764 |
| 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 | $3,017,777 | $301,776 | - | $3,319,553 |
| Occupancy | $1,450,181 | $4,531 | - | $1,454,712 |
| Fees for Services Other | $915,603 | $111,042 | - | $1,026,645 |
| Current Officers, Directors, Trustees, and Key Employees | $154,028 | $156,948 | - | $310,976 |
| Payroll Taxes | $219,500 | $62,656 | - | $282,156 |
| Pension Plan Contributions | $244,882 | $15,138 | - | $260,020 |
| Other Employee Benefits | $239,128 | $18,547 | - | $257,675 |
| Information Technology | $65,318 | $75,511 | - | $140,829 |
| Fees for Services Accounting | - | $117,457 | - | $117,457 |
| Office Expenses | $58,301 | $28,380 | - | $86,681 |
| Depreciation Depletion | $56,081 | $28,411 | - | $84,492 |
| Comp Disqual Persons | $64,632 | - | - | $64,632 |
| Insurance | $43,871 | - | - | $43,871 |
| Conferences and Meetings | $21,112 | $686 | - | $21,798 |
| Other Expenses | $12,373 | $1,963 | - | $14,336 |
| Fees for Services Legal | - | $6,839 | - | $6,839 |
| Total Functional Expenses | $6,676,412 | $963,364 | $0 | $7,639,776 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| 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
| Liability | Amount |
|---|---|
| Net Pension Liability | $5,112,533 |
| Capital Lease Payable | $134,965 |
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 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
- 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 draft form 990 is 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 for the same period of disclosure as set forth in section 6104(d).”
Filing and Contact Details
Filer
- Filer Name
- Aspen Academy
- EIN
- 26-1305369
- Phone
- 9522265940
- Address
- 14825 ZINRAN AVENUE, SAVAGE, MN 55378
Signing Officer
- Name
- Melanie Jiskra
- Title
- Executive Director
- Phone
- 9522265940
- Signed
- 2024-05-07
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Melanie Jiskra
- Formed
- 2007
- Legal Domicile
- Mn
- Voting Board Members
- 7
- Independent Board Members
- 4
- Employees
- 115
- Volunteers
- 216
Preparer
- Firm
- Creative Planning Tax LLC
- Address
- 220 PARK AVE S, ST CLOUD, MN 56301
- Preparer
- Marie a Primus CPA
- Phone
- 3202517010
Supplemental Narrative
Additional Explanations
Form 990, Part IX, Line 11G
“Other fees for services: program service expenses 584,342. Management and general expenses 111,042. Fundraising expenses 0. Total expenses 695,384. Food service: program service expenses 147,488. Management and general expenses 0. Fundraising expenses 0. Total expenses 147,488. Student transportation: program service expenses 183,773. Management and general expenses 0. Fundraising expenses 0. Total expenses 183,773.”
FORM 990, PART XI, LINE 9:
“Gasb 68 - pension adjustment 580,544.”
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 exempt from income taxes under section 501(c)(3) of the internal revenue code (irc). The academy is also exempt from minnesota franchise or income tax. 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 not amounts to record as assets or liabilities related to uncertain tax positions.”
Raw XML AppendixShowing 400 of 505 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, 2023 WAS 644 STUDENTS SPREAD FROM KINDERGARTEN THROUGH EIGHTH GRADE. |
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| IRS990/FSAuditedInd | 0 | 1 |
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| IRS990/GrantToRelatedPersonInd | 0 | 0 |
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| IRS990/InfoInScheduleOPartIXInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIInd | 0 | X |
| IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt | 0 | 75511 |
| IRS990/InformationTechnologyGrp/ProgramServicesAmt | 0 | 65318 |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 140829 |
| IRS990/InsuranceGrp/ProgramServicesAmt | 0 | 43871 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 43871 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 24 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 24 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/IRPDocumentCnt | 0 | 29 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 523792 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 367817 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 385322 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 909114 |
| IRS990/LegalDomicileStateCd | 0 | MN |
| 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 | TO PROVIDE STUDENTS WITH A WELL-ROUNDED AND CORE KNOWLEDGE-BASED EDUCATION. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | -2172190 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | -1324992 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 4531 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 1450181 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 1454712 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 28380 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 58301 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 86681 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrgDoesNotFollowFASB117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 1721986 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 1775556 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 580544 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 18547 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 239128 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 257675 |
| IRS990/OtherExpensesGrp/Desc | 0 | SUPPLIES |
| IRS990/OtherExpensesGrp/Desc | 1 | DUES AND SUBSCRIPTIONS |
| IRS990/OtherExpensesGrp/Desc | 2 | REPAIRS & MAINTENANCE |
| IRS990/OtherExpensesGrp/Desc | 3 | EQUIPMENT PURCHASES |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 33479 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 1 | 1963 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 76252 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 3119 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 34254 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 12373 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 76252 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 36598 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 34254 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 14336 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 5750191 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 5247498 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 611710 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | MISCELLANEOUS REVENUE |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 0 | 37837 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 37837 |
| IRS990/OtherRevenueTotalAmt | 0 | 37837 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 301776 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 3017777 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 3319553 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 62656 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 219500 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 282156 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt | 0 | 367817 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt | 0 | 519114 |
| IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt | 0 | 15138 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 244882 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 260020 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 12772 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 27707 |
| IRS990/PrincipalOfficerNm | 0 | MELANIE JISKRA |
| 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 | TUITION REVENUE |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | FOOD SALES TO PUPILS |
| IRS990/ProgramServiceRevenueGrp/Desc | 2 | FEES FROM PATRONS |
| IRS990/ProgramServiceRevenueGrp/Desc | 3 | MEDICAL ASSISTANCE |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 117155 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 104269 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 2 | 85038 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 3 | 9720 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 117155 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 104269 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 2 | 85038 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 3 | 9720 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 7871681 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 1 |
| IRS990/PYOtherExpensesAmt | 0 | 3420585 |
| IRS990/PYOtherRevenueAmt | 0 | 41297 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 113916 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 40100 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 4566210 |
| IRS990/PYTotalExpensesAmt | 0 | 7986795 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 8026895 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 266654 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 1 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 1 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 354019 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 0 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 0 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 1114252 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 947334 |
| IRS990ScheduleA/SchoolInd | 0 | X |
| IRS990/ScheduleBRequiredInd | 0 | 0 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 385322 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 523792 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 909114 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 0 | 1630090 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 1 | 11674 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 2 | 133792 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | DEFERRED OUTFLOWS OF RESOURCES RELATED TO PENSIONS |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 1 | DUE FROM FRIENDS OF ASPEN ACADEMY |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 2 | LEASED ASSETS |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 5112533 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 134965 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | NET PENSION LIABILITY |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | CAPITAL LEASE PAYABLE |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | THE ACADEMY IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). THE ACADEMY IS ALSO EXEMPT FROM MINNESOTA FRANCHISE OR INCOME TAX. 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 NOT AMOUNTS TO RECORD AS ASSETS OR LIABILITIES RELATED TO UNCERTAIN TAX POSITIONS. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART X, LINE 2: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 385322 |
| IRS990ScheduleD/TotalBookValueOtherAssetsAmt | 0 | 1775556 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 5247498 |
| 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 |
| 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 DRAFT FORM 990 IS 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | OTHER FEES FOR SERVICES: PROGRAM SERVICE EXPENSES 584,342. MANAGEMENT AND GENERAL EXPENSES 111,042. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 695,384. FOOD SERVICE: PROGRAM SERVICE EXPENSES 147,488. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 147,488. STUDENT TRANSPORTATION: PROGRAM SERVICE EXPENSES 183,773. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 183,773. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | GASB 68 - PENSION ADJUSTMENT 580,544. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | THE FINANCE COMMITTEE IS RESPONSIBLE FOR THE SELECTION OF AN INDEPENDENT ACCOUNTANT AND THE OVERSIGHT OF THE FINANCIAL STATEMENT AUDIT. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART VI, SECTION A, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, SECTION B, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION B, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PART VI, SECTION B, LINE 15 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PART IX, LINE 11G |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PART XI, LINE 9: |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | FORM 990, PART XII, LINE 2C: |
| IRS990ScheduleR/AssetExchangeInd | 0 | 0 |
| IRS990ScheduleR/AssetPurchaseFromOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/AssetSaleToOtherOrgInd | 0 | 0 |
| IRS990ScheduleR/DivRelatedOrganizationInd | 0 | 0 |
| IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd | 0 | 0 |
| IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd | 0 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 0 | 1 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt | 0 | ASPEN ACADEMY |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt | 0 | FRIENDS OF ASPEN ACADEMY |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN | 0 | 474706161 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt | 0 | 501(C)(3) |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd | 0 | MN |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt | 0 | SCHOOL BUILDING |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt | 0 | LINE 12A, I |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt | 0 | 14825 ZINRAN AVENUE |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm | 0 | SAVAGE |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd | 0 | MN |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2023 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $4,495,976
- Liabilities
- $5,820,968
- Net assets
- -$1,324,992
- Revenue
- $7,906,430
- Expenses
- $7,639,776
- Net income
- $266,654