Civic Intelligence

Minnesota Thunder Academy

990 • Fiscal year 2020 • EIN 26-3017116

Aug 01, 2019 to Jul 31, 2020 • Filed on Jun 09, 2020

Organization ProfileMNTHUNDERACADEMY.ORG
6600 Nicollet AvenueMinneapolis, MN 55423

(763) 334-0210

Siviq Scores

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

Liabilities / Assets

91st percentile

0.89x

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

62nd percentile

0.23x

Higher debt load relative to revenue than 62% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

58th percentile

9.5%

Higher net margin than 58% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

99th percentile

970%

Faster asset growth than 99% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

28th percentile

-14%

Faster revenue growth than 28% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$406,779

Up $368,759 (+970%) from 2019

Net Assets

Up

$45,277

Up $150,148 (+143%) from 2019

Liabilities

Up

$361,502

Up $218,611 (+153%) from 2019

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin58th percentile

Revenue

Down

$1,574,781

Down $258,993 (-14%) from 2019

Expenses

Down

$1,424,633

Down $259,520 (-15%) from 2019

Net Income

Up

$150,148

Up $527 (+0.4%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth99th 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

2020

Assets$406,779
Liabilities$361,502
Net Assets$45,277
Open 2020 Filing

Operations Trend

Revenue Growth28th 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

2020

Revenue$1,574,781
Expenses$1,424,633
Net Income$150,148
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2019 to Jul 31, 2020
Signed
Jun 9, 2020
Return Version
2019v5.0
Gross Receipts
$1,580,340
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 as well as developing soccer players to the best of their ability.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$21,466$403,749▲ $382,283
Prepaid Expenses and Deferred Charges$5,033--
Accounts Receivable$10,683$3,030▼ $7,653
Land, Buildings, and Equipment, Net$838--
Total Assets$38,020$406,779▲ $368,759
Liabilities
Deferred Revenue$61,052$171,381▲ $110,329
Unsecured Notes Loans Payable-$141,600-
Accounts Payable and Accrued Expenses$81,839$48,521▼ $33,318
Total Liabilities$142,891$361,502▲ $218,611
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-104,871$45,277▲ $150,148
Total Net Assets Fund Balance$-104,871$45,277▲ $150,148
Total Liabilities and Net Assets / Fund Balance$38,020$406,779▲ $368,759
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Jeff WittePresident
Abir RoyDirector
Andres CaballeroDirector
Anne BeatonDirector
Craig MacbeanDirector
Kurt IshaugDirector
Peter HaineyDirector
Rob CaverlyDirector
Kelly BrackinSecretary &
Revenue and Support

Revenue Composition

Contributions and Grants
$17,416
Program Service Revenue
$1,542,607
Investment Income
$-516
Other Revenue
$15,274
All Other Contributions
$17,416
Change in Net Assets
$150,148

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,574,781
Total Revenue per Audited Statements
$1,574,781
Total Revenue per Form 990
$1,574,781
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$722,310
Other Expenses$702,323
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$468,371$201,272-$669,643
Occupancy$474,962$14,710-$489,672
Other Expenses$121,973--$121,973
Payroll Taxes$41,065$11,602-$52,667
Office Expenses-$46,679-$46,679
Fees for Services Accounting$23,690--$23,690
Insurance$14,759--$14,759
Advertising-$5,271-$5,271
Depreciation Depletion$279--$279
Total Functional Expenses$1,145,099$279,534$0$1,424,633

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,424,633
Total Expenses per Audited Statements$1,424,633
Total Expenses per Form 990$1,424,633
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$20,274
Fundraising Direct Expenses$5,000
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Raffle$20,274$20,274-$20,274
Total Events$20,274$20,274$5,000$15,274
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
Yes
Audit committee
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
No
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“A review of the form 990 was completed by the president, treasurer and executive director, with a copy sent to all board members.”

Form 990, Page 6, Part VI, Line 15B

“All directors, coaches, and administrator positions are employees of the association. Each compensation amount is approved the board.”

Form 990, Page 6, Part VI, 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
7633340210
Address
6600 NICOLLET AVENUE, MINNEAPOLIS, MN 55423

Signing Officer

Name
Jeff Witte
Title
President
Phone
6123147363
Signed
2020-06-09

Organization Details

Principal Officer
Jeff Witte
Formed
2008
Legal Domicile
Mn
Voting Board Members
9
Independent Board Members
9
Employees
48
Volunteers
100

Preparer

Firm
Harnarmoll Llp
Address
5016 SPEDALE CT 412, SPRING HILL, TN 37174-6105
Preparer
Jason Moll CPA
Phone
6788272365
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The academy follows the recognition requirements for uncertain income tax positions as required by the fasb asc 740-10. 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 the filing with the internal revenue service and state jurisdictions where it operates. The academy believes that the 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.”

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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$406,779
Liabilities
$361,502
Net assets
$45,277
Revenue
$1,574,781
Expenses
$1,424,633
Net income
$150,148
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