Civic Intelligence

Minnesota Thunder Academy

990 • Fiscal year 2016 • EIN 26-3017116

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 15, 2017

Organization Profilemnthunderacademy.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

95th percentile

1.35x

Higher debt load relative to assets than 95% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

69th percentile

0.30x

Higher debt load relative to revenue than 69% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

70th percentile

11%

Higher net margin than 70% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

47th percentile

$56,959

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 3.5% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

2nd percentile

-43%

Faster asset growth than 2% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2016

Revenue Growth

54th percentile

4.3%

Faster revenue growth than 54% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2016

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$358,725

Down $737,705 (-67%) from 2014

Net Assets

Down

-$124,471

Down $159,867 (-452%) from 2014

Liabilities

Down

$483,196

Down $577,838 (-54%) from 2014

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin70th percentile

Revenue

Up

$1,621,757

Up $131,853 (+8.8%) from 2014

Expenses

Up

$1,449,987

Up $89,240 (+6.6%) from 2014

Net Income

Up

$171,770

Up $42,613 (+33%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth2nd 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

2016

Assets$358,725
Liabilities$483,196
Net Assets-$124,471
Open 2016 Filing

Operations Trend

Revenue Growth54th 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

2016

Revenue$1,621,757
Expenses$1,449,987
Net Income$171,770
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 15, 2017
Return Version
2016v3.0
Gross Receipts
$1,621,757
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.

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
Cash and Non-Interest-Bearing Accounts$235,483$245,654▲ $10,171
Accounts Receivable$181,865$81,975▼ $99,890
Prepaid Expenses and Deferred Charges$54,440$26,478▼ $27,962
Land, Buildings, and Equipment, Net$5,878$4,618▼ $1,260
Total Assets$477,666$358,725▼ $118,941
Liabilities
Deferred Revenue$756,245$478,531▼ $277,714
Accounts Payable and Accrued Expenses$17,662$4,665▼ $12,997
Total Liabilities$773,907$483,196▼ $290,711
Net Assets / Fund Balance
Unrestricted Net Assets$-296,241$-124,471▲ $171,770
Total Net Assets Fund Balance$-296,241$-124,471▲ $171,770
Total Liabilities and Net Assets / Fund Balance$477,666$358,725▼ $118,941

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$4,618$1,680$6,298
Compensation and Service Providers
Top Officer Pay47th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Mark YueillTreasurerFT$56,959$56,959
Dan StorlienMemberFT$42,625$42,625
Mark Bigelbach formerTreasurerPT$5,625$5,625

Board Members and Trustees

NameTitle
Barry NealBoard President
Jamie RouxMember
Lee GoehringMember
Mike JonesMember
Pete HaineyMember
Jack PerrySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$27,405
Program Service Revenue
$1,594,330
Investment Income
$22
Other Revenue
$0
All Other Contributions
$27,405
Change in Net Assets
$171,770

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,621,757
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,621,757
Total Revenue per Form 990
$1,621,757
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,249,633
Salaries, Compensation, and Employee Benefits$200,354
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$621,830$6,720-$628,550
Fees for Services Other$547,046--$547,046
Current Officers, Directors, Trustees, and Key Employees$79,425$25,784-$105,209
Other Salaries and Wages-$79,357-$79,357
Office Expenses-$50,103-$50,103
Fees for Services Accounting-$17,444-$17,444
Payroll Taxes-$15,788-$15,788
Advertising-$4,730-$4,730
Depreciation Depletion$1,260--$1,260
Fees for Services Legal-$500-$500
Total Functional Expenses$1,249,561$200,426$0$1,449,987

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,449,987
Total Expenses per Audited Statements$1,449,987
Total Expenses per Form 990$1,449,987
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$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
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 11B

“A review of the form 990 was completed by management before it is finalized.”

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

“All policies are reviewed annually and any violations are promply addressed and corrected”

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

“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

“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
Pete Hainey
Title
President
Phone
6126691098
Signed
2017-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Pete Hainey
Formed
2008
Legal Domicile
Mn
Voting Board Members
8
Independent Board Members
6
Employees
2
Volunteers
90

Preparer

Firm
Malloy Montague Karnowski Radosevich
Address
5353 Wayzata Blvd Ste 410, Minneapolis, MN 55416
Preparer
Thomas A Karnowski
Phone
9525450424
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

“Referees : Program service expenses 61,664. Management and general expenses 0. Fundraising expenses 0. Total expenses 61,664. Tournament Expenses : Program service expenses 6,189. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,189. Bad Debt Expense : Program service expenses 12,053. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,053. Tryout Expenses : Program service expenses 6,564. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,564. Clinics and Development Expenses : Program service expenses 67,017. Management and general expenses 0. Fundraising expenses 0. Total expenses 67,017. Coaching Expenses : Program service expenses 393,559. Management and general expenses 0. Fundraising expenses 0. Total expenses 393,559.”

Financial Statement Notes

Part X, Line 2:

“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 year-end. The Academy is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any open tax periods.”

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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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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0132956
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt01477
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt028234
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0996249
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01186321
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt022
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt026
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt027
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt015
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt069
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0159
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01594330
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt01429973
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt01265390
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt01006011
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt015
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt069
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0159
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01562929
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01266867
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01034245
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0996249
IRS990ScheduleA/Total509Grp/TotalAmt06482025
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01621757
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01562955
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01266894
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01034260
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0996318
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt06482184
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01449987
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt04618
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01680
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt06298
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01621757
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The 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 year-end. The Academy is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any open tax periods.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
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IRS990ScheduleD/TotalExpensesPerForm990Amt01449987
IRS990ScheduleD/TotalRevenuePerForm990Amt01621757
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01621757
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01449987
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A review of the form 990 was completed by management before it is finalized.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All policies are reviewed annually and any violations are promply addressed and corrected
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt215a: 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/ExplanationTxt3Copies 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/ExplanationTxt4Referees : Program service expenses 61,664. Management and general expenses 0. Fundraising expenses 0. Total expenses 61,664. Tournament Expenses : Program service expenses 6,189. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,189. Bad Debt Expense : Program service expenses 12,053. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,053. Tryout Expenses : Program service expenses 6,564. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,564. Clinics and Development Expenses : Program service expenses 67,017. Management and general expenses 0. Fundraising expenses 0. Total expenses 67,017. Coaching Expenses : Program service expenses 393,559. Management and general expenses 0. Fundraising expenses 0. Total expenses 393,559.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
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
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IRS990/SubjectToProxyTaxInd00
IRS990/TaxableDistributionsInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
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IRS990/TerminateOperationsInd00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01249561
IRS990/TotalFunctionalExpensesGrp/TotalAmt01449987
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0773907
IRS990/TotalLiabilitiesEOYAmt0483196
IRS990/TotalLiabilitiesGrp/BOYAmt0773907
IRS990/TotalLiabilitiesGrp/EOYAmt0483196
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-296241
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-124471
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01249561
IRS990/TotalProgramServiceRevenueAmt01594330
IRS990/TotalReportableCompFromOrgAmt0105209
IRS990/TotalRevenueGrp/ExclusionAmt022
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01594330
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt06607 18th Ave S
IRS990/USAddress/CityNm0Richfield
IRS990/USAddress/StateAbbreviationCd0MN
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IRS990/WebsiteAddressTxt0mnthunderacademy.org
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02017-02-10 21:41:12Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0Pete Hainey
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum06126691098
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-15
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ReturnHeader/Filer/PhoneNum06126691098
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 41534
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411690382

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$358,725
Liabilities
$483,196
Net assets
-$124,471
Revenue
$1,621,757
Expenses
$1,449,987
Net income
$171,770
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