Civic Intelligence

Minnesota Thunder Academy

990 • Fiscal year 2014 • EIN 26-3017116

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 13, 2015

Organization ProfileWWW.MNTHUNDERACADEMY.ORG
PO Box 41534Plymouth, MN 55441

(612) 669-1098

Siviq Scores

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

Liabilities / Assets

91st percentile

0.97x

Higher debt load relative to assets than 91% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

81st percentile

0.71x

Higher debt load relative to revenue than 81% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

65th percentile

8.7%

Higher net margin than 65% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

43rd percentile

$46,771

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 3.1% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

94th percentile

75%

Faster asset growth than 94% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

86th percentile

41%

Faster revenue growth than 86% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$1,096,430

Up $469,476 (+75%) from 2013

Net Assets

Up

$35,396

Up $106,584 (+150%) from 2013

Liabilities

Up

$1,061,034

Up $362,892 (+52%) from 2013

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin65th percentile

Revenue

Up

$1,489,904

Up $433,495 (+41%) from 2013

Expenses

Up

$1,360,747

Up $169,967 (+14%) from 2013

Net Income

Up

$129,157

Up $263,528 (+196%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2013: $626,954Liabilities 2013: $698,142Net Assets 2013: -$71,1882013Assets 2014: $1,096,430Liabilities 2014: $1,061,034Net Assets 2014: $35,3962014Assets 2016: $358,725Liabilities 2016: $483,196Net Assets 2016: -$124,4712016Assets 2017: $441,613Liabilities 2017: $794,206Net Assets 2017: -$352,5932017Assets 2019: $38,020Liabilities 2019: $142,891Net Assets 2019: -$104,8712019Assets 2020: $406,779Liabilities 2020: $361,502Net Assets 2020: $45,2772020Assets 2021: $779,672Liabilities 2021: $176,277Net Assets 2021: $603,3952021Assets 2022: $1,013,542Liabilities 2022: $190,833Net Assets 2022: $822,7092022Assets 2023: $2,124,907Liabilities 2023: $1,032,947Net Assets 2023: $1,091,9602023Assets 2024: $2,895,638Liabilities 2024: $1,342,469Net Assets 2024: $1,553,1692024

Highlighted filing

2014

Assets$1,096,430
Liabilities$1,061,034
Net Assets$35,396
Open 2014 Filing

Operations Trend

Revenue Growth86th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2013: $1,056,409Expenses 2013: $1,190,780Net Income 2013: -$134,3712013Revenue 2014: $1,489,904Expenses 2014: $1,360,747Net Income 2014: $129,1572014Revenue 2016: $1,621,757Expenses 2016: $1,449,987Net Income 2016: $171,7702016Revenue 2017: $1,247,442Expenses 2017: $1,475,565Net Income 2017: -$228,1232017Revenue 2019: $1,833,774Expenses 2019: $1,684,153Net Income 2019: $149,6212019Revenue 2020: $1,574,781Expenses 2020: $1,424,633Net Income 2020: $150,1482020Revenue 2021: $2,073,757Expenses 2021: $1,515,639Net Income 2021: $558,1182021Revenue 2022: $2,099,169Expenses 2022: $1,879,854Net Income 2022: $219,3152022Revenue 2023: $2,484,777Expenses 2023: $2,215,526Net Income 2023: $269,2512023Revenue 2024: $3,353,243Expenses 2024: $2,892,034Net Income 2024: $461,2092024

Highlighted filing

2014

Revenue$1,489,904
Expenses$1,360,747
Net Income$129,157
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 13, 2015
Return Version
2014v5.0
Gross Receipts
$1,490,760
Mission and Program Overview

Mission

The minnesota thunder academy is a non-profit corporation that promotes the growth, and raising the standard of youth soccer, in the state of minnesota.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$438,033$638,559▲ $200,526
Cash and Non-Interest-Bearing Accounts$157,619$406,823▲ $249,204
Prepaid Expenses and Deferred Charges$8,730$51,048▲ $42,318
Total Assets$604,382$1,096,430▲ $492,048
Liabilities
Deferred Revenue$626,813$1,052,687▲ $425,874
Accounts Payable and Accrued Expenses$71,329$8,347▼ $62,982
Total Liabilities$698,142$1,061,034▲ $362,892
Net Assets / Fund Balance
Unrestricted Net Assets$-93,760$35,396▲ $129,156
Total Net Assets Fund Balance$-93,760$35,396▲ $129,156
Total Liabilities and Net Assets / Fund Balance$604,382$1,096,430▲ $492,048
Compensation and Service Providers
Top Officer Pay43rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Mark YueillMember/treasurerFT$46,771$46,771
Dan StorlienMemberFT$21,418$21,418

Board Members and Trustees

NameTitle
Barry NealBoard President
Kent JohnsonMember
James RouxMember/secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$621
Program Service Revenue
$1,489,256
Investment Income
$27
Other Revenue
$0
Change in Net Assets
$129,157

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,489,904
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$73,230
Total Revenue per Audited Statements
$1,563,134
Total Revenue per Form 990
$1,489,904
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,360,747
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$537,903--$537,903
Fees for Services Management$429,592$68,000-$497,592
Fees for Services Other$304,116--$304,116
Office Expenses-$16,011-$16,011
Advertising$4,915--$4,915
Travel$210--$210
Total Functional Expenses$1,276,736$84,011$0$1,360,747

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,433,977
Expenses per Audited Statements$1,360,747
Total Expenses per Form 990$1,360,747
Expenses Not Reported on Form 990$73,230
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
Fundraising Direct Expenses$856
Fundraising Gross Income$856
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
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
No
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 B, Line 11

“Explanation: a review of the form 990 was completed by management and the treasurer.”

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

“Explanation: all policies are reviewed annually and any violations are promply addressed and corrected”

Form 990, Part VI, Section B, Line 15B

“Explanation: 15a: board's president does not receive compensation 15b: all directors, coaches, and the administrator positions are independent contractors and compensated on a 1099 basis. Each compensation amount is approved by the mta board.”

Form 990, Part VI, Section C, Line 19

“Explanation: copies of the organizations annual audited financial statements will be made available upon request. The organizations governing documents and conflict of interest policy are not open to the public.”

Filing and Contact Details

Filer

Filer Name
Minnesota Thunder Academy
EIN
26-3017116
Phone
6126691098
Address
PO BOX 41534, PLYMOUTH, MN 55441

Signing Officer

Name
Barry Neal
Title
CEO
Phone
6126691098
Signed
2015-11-13

Organization Details

Principal Officer
Barry Neal
Formed
2008
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
2
Employees
0
Volunteers
50

Preparer

Firm
Froehling Anderson Ltd
Address
1000 SHELARD PARKWAY - SUITE 400, ST LOUIS PARK, MN 55426
Preparer
Sherri a Roseen CPA
Phone
9529793100
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Other expenses: program service expenses 304,116. Management and general expenses 0. Fundraising expenses 0. Total expenses 304,116.”

Financial Statement Notes

PART X, LINE 2:

“Explanation: the academy adopted the recognition requirements for uncertain income tax positions as required by the fasb asc 740-10 (formerly known as fasb interpretation no. 48, accounting for uncertainty in income taxes), with no cumulative effect adjustment required. Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by taxing authorities. The academy has analyzed tax positions taken for filing with the internal revenue service and state jurisdiction where it operates. The academy believes that income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on the academy's financial condition, results of operations, or cash flows. Accordingly, the academy has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at december 31, 2014. The academy is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any open tax periods. The academy's open audit periods are the year ended december 31, 2011, 2012,and 2013.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Bad debt expense netted with revenue 72,374. Fundraising expense netted against income 856.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Bad debt expense netted with revenue on 990 72,374. Fundraising expense netted against income 856.”

Raw XML Appendix355 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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IRS990ScheduleD/RevenueSubtotalAmt01489904
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0EXPLANATION: THE ACADEMY ADOPTED THE RECOGNITION REQUIREMENTS FOR UNCERTAIN INCOME TAX POSITIONS AS REQUIRED BY THE FASB ASC 740-10 (FORMERLY KNOWN AS FASB INTERPRETATION NO. 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES), WITH NO CUMULATIVE EFFECT ADJUSTMENT REQUIRED. INCOME TAX BENEFITS ARE RECOGNIZED FOR INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, ONLY WHEN IT IS DETERMINED THAT THE INCOME TAX POSITION WILL MORE-LIKELY-THAN-NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE ACADEMY HAS ANALYZED TAX POSITIONS TAKEN FOR FILING WITH THE INTERNAL REVENUE SERVICE AND STATE JURISDICTION WHERE IT OPERATES. THE ACADEMY BELIEVES THAT INCOME TAX FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE EFFECT ON THE ACADEMY'S FINANCIAL CONDITION, RESULTS OF OPERATIONS, OR CASH FLOWS. ACCORDINGLY, THE ACADEMY HAS NOT RECORDED ANY RESERVES, OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN INCOME TAX POSITIONS AT DECEMBER 31, 2014. THE ACADEMY IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS IN PROGRESS FOR ANY OPEN TAX PERIODS. THE ACADEMY'S OPEN AUDIT PERIODS ARE THE YEAR ENDED DECEMBER 31, 2011, 2012,AND 2013.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1BAD DEBT EXPENSE NETTED WITH REVENUE 72,374. FUNDRAISING EXPENSE NETTED AGAINST INCOME 856.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2BAD DEBT EXPENSE NETTED WITH REVENUE ON 990 72,374. FUNDRAISING EXPENSE NETTED AGAINST INCOME 856.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt01360747
IRS990ScheduleD/TotalRevenuePerForm990Amt01489904
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01563134
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01433977
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EXPLANATION: A REVIEW OF THE FORM 990 WAS COMPLETED BY MANAGEMENT AND THE TREASURER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EXPLANATION: ALL POLICIES ARE REVIEWED ANNUALLY AND ANY VIOLATIONS ARE PROMPLY ADDRESSED AND CORRECTED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EXPLANATION: 15A: BOARD'S PRESIDENT DOES NOT RECEIVE COMPENSATION 15B: ALL DIRECTORS, COACHES, AND THE ADMINISTRATOR POSITIONS ARE INDEPENDENT CONTRACTORS AND COMPENSATED ON A 1099 BASIS. EACH COMPENSATION AMOUNT IS APPROVED BY THE MTA BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3EXPLANATION: COPIES OF THE ORGANIZATIONS ANNUAL AUDITED FINANCIAL STATEMENTS WILL BE MADE AVAILABLE UPON REQUEST. THE ORGANIZATIONS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT OPEN TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OTHER EXPENSES: PROGRAM SERVICE EXPENSES 304,116. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 304,116.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0604382
IRS990/TotalAssetsEOYAmt01096430
IRS990/TotalAssetsGrp/BOYAmt0604382
IRS990/TotalAssetsGrp/EOYAmt01096430
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0621
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt084011
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01276736
IRS990/TotalFunctionalExpensesGrp/TotalAmt01360747
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0698142
IRS990/TotalLiabilitiesEOYAmt01061034
IRS990/TotalLiabilitiesGrp/BOYAmt0698142
IRS990/TotalLiabilitiesGrp/EOYAmt01061034
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-93760
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt035396
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01276736
IRS990/TotalProgramServiceRevenueAmt01489256
IRS990/TotalReportableCompFromOrgAmt068189
IRS990/TotalRevenueGrp/ExclusionAmt027
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01489256
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01489904
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt050
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0604382
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01096430
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0210
IRS990/TravelGrp/TotalAmt0210
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-93760
IRS990/UnrestrictedNetAssetsGrp/EOYAmt035396
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 41534
IRS990/USAddress/CityNm0PLYMOUTH
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055441
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0WWW.MNTHUNDERACADEMY.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/PersonNm0BARRY NEAL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum06126691098
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MINNESOTA THUNDER ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0MINN
ReturnHeader/Filer/EIN0263017116
ReturnHeader/Filer/PhoneNum06126691098
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 41534
ReturnHeader/Filer/USAddress/CityNm0PLYMOUTH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055441
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411384792
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FROEHLING ANDERSON LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01000 SHELARD PARKWAY - SUITE 400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ST LOUIS PARK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055426
ReturnHeader/PreparerPersonGrp/PhoneNum09529793100
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHERRI A ROSEEN CPA
ReturnHeader/ReturnTs02015-11-16T10:19:20-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,096,430
Liabilities
$1,061,034
Net assets
$35,396
Revenue
$1,489,904
Expenses
$1,360,747
Net income
$129,157
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.90$1.34$1.55$3.35$2.89$0.46
2023Detailed filing. Detailed filing data is available for this year.$2.12$1.03$1.09$2.48$2.22$0.27
2022Detailed filing. Detailed filing data is available for this year.$1.01$0.19$0.82$2.10$1.88$0.22
2021Detailed filing. Detailed filing data is available for this year.$0.78$0.18$0.60$2.07$1.52$0.56
2020Detailed filing. Detailed filing data is available for this year.$0.41$0.36$0.05$1.57$1.42$0.15
2019Detailed filing. Detailed filing data is available for this year.$0.04$0.14$0.10$1.83$1.68$0.15
2017Detailed filing. Detailed filing data is available for this year.$0.44$0.79$0.35$1.25$1.48$0.23
2016Detailed filing. Detailed filing data is available for this year.$0.36$0.48$0.12$1.62$1.45$0.17
2014Detailed filing. Detailed filing data is available for this year.$1.10$1.06$0.04$1.49$1.36$0.13
2013Detailed filing. Detailed filing data is available for this year.$0.63$0.70$0.07$1.06$1.19$0.13