Civic Intelligence

Innovative Quality Schools

990 • Fiscal year 2015 • EIN 27-0574007

Jul 01, 2014 to Jun 30, 2015 • Filed on Nov 01, 2015

Organization ProfileWWW.IQSMN.ORG
200 South 6th Street Suite 4000Minneapolis, MN 55402

(612) 492-7000

Siviq Scores

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

Liabilities / Assets

91st percentile

0.66x

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

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

91st percentile

0.39x

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

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

70th percentile

15%

Higher net margin than 70% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

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

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

79th percentile

33%

Faster asset growth than 79% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

63rd percentile

10%

Faster revenue growth than 63% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$164,021

Up $41,086 (+33%) from 2014

Net Assets

Up

$55,374

Up $40,176 (+264%) from 2014

Liabilities

Up

$108,647

Up $910 (+0.8%) from 2014

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin70th percentile

Revenue

Up

$276,936

Up $25,965 (+10%) from 2014

Expenses

Down

$236,760

Down $14,107 (-5.6%) from 2014

Net Income

Up

$40,176

Up $40,072 (+38531%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth79th percentile

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

$600K$400K$200K$0-$200KAssets 2012: $26,410Liabilities 2012: $28,454Net Assets 2012: -$2,0442012Assets 2013: $48,829Liabilities 2013: $33,735Net Assets 2013: $15,0942013Assets 2014: $122,935Liabilities 2014: $107,737Net Assets 2014: $15,1982014Assets 2015: $164,021Liabilities 2015: $108,647Net Assets 2015: $55,3742015Assets 2016: $128,806Liabilities 2016: $10,582Net Assets 2016: $118,2242016Assets 2017: $216,255Liabilities 2017: $19,114Net Assets 2017: $197,1412017Assets 2018: $254,642Liabilities 2018: $29,828Net Assets 2018: $224,8142018Assets 2019: $225,694Liabilities 2019: $12,371Net Assets 2019: $213,3232019Assets 2020: $253,981Liabilities 2020: $2,034Net Assets 2020: $251,9472020Assets 2021: $327,339Liabilities 2021: $27,035Net Assets 2021: $300,3042021Assets 2022: $388,465Liabilities 2022: $41,920Net Assets 2022: $346,5452022Assets 2023: $358,447Liabilities 2023: $29,182Net Assets 2023: $329,2652023Assets 2024: $358,049Liabilities 2024: $16,506Net Assets 2024: $341,5432024Assets 2025: $436,431Liabilities 2025: $89,723Net Assets 2025: $346,7082025

Highlighted filing

2015

Assets$164,021
Liabilities$108,647
Net Assets$55,374
Open 2015 Filing

Operations Trend

Revenue Growth63rd percentile

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

$800K$600K$400K$200K$0-$200KExpenses 2012: $61,4612012Expenses 2013: $197,3472013Revenue 2014: $250,971Expenses 2014: $250,867Net Income 2014: $1042014Revenue 2015: $276,936Expenses 2015: $236,760Net Income 2015: $40,1762015Revenue 2016: $326,169Expenses 2016: $263,319Net Income 2016: $62,8502016Revenue 2017: $366,710Expenses 2017: $287,793Net Income 2017: $78,9172017Revenue 2018: $417,907Expenses 2018: $390,234Net Income 2018: $27,6732018Revenue 2019: $408,347Expenses 2019: $419,838Net Income 2019: -$11,4912019Revenue 2020: $455,295Expenses 2020: $416,671Net Income 2020: $38,6242020Revenue 2021: $513,142Expenses 2021: $464,785Net Income 2021: $48,3572021Revenue 2022: $603,324Expenses 2022: $557,083Net Income 2022: $46,2412022Revenue 2023: $610,219Expenses 2023: $627,499Net Income 2023: -$17,2802023Revenue 2024: $648,812Expenses 2024: $623,484Net Income 2024: $25,3282024Revenue 2025: $636,658Expenses 2025: $631,493Net Income 2025: $5,1652025

Highlighted filing

2015

Revenue$276,936
Expenses$236,760
Net Income$40,176
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Nov 1, 2015
Return Version
2014v5.0
Gross Receipts
$276,936
Mission and Program Overview

Mission

The mission of Innovative Quality Schools is to, "...authorize charter schools that are innovative and successful in preparing students to achieve their full potential...". Its vision is to, "...achieve success for all learners by supporting schools engaged in educational innovation...". Decisions made by the Innovative Quality Schools Board are guided by the following values:1) Focus on Innovation 2) Avoid Insularity3) Commit to Collaboration4) Embrace Diversity5) Instill Clarity and Transparency6) Transformation for Educational Excellence

Iqs is an authorizer of chartered public schools in minnesota. Iqs also conducts conferences to demonstrate and encourage innovation in education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$75,560$129,377▲ $53,817
Rtn Earn Endowment Incm Other Fnds$15,198$55,374▲ $40,176
Cash and Non-Interest-Bearing Accounts$47,375$34,644▼ $12,731
Total Assets$122,935$164,021▲ $41,086
Liabilities
Deferred Revenue$71,765$86,192▲ $14,427
Accounts Payable and Accrued Expenses$35,972$22,455▼ $13,517
Total Liabilities$107,737$108,647▲ $910
Net Assets / Fund Balance
Total Net Assets Fund Balance$15,198$55,374▲ $40,176
Total Liabilities and Net Assets / Fund Balance$122,935$164,021▲ $41,086
Compensation and Service Providers
Top Officer Pay75th percentile

Board Members and Trustees

NameTitle
Dan MottChair
David JohnsonVice-chair
Craig AmundsonDirector
Holly MarshDirector
Kristen AndersonDirector
Arnie WeimerskirchSecretary
Ed DirkswagerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,300
Program Service Revenue
$273,468
Investment Income
$0
Other Revenue
$168
All Other Contributions
$3,300
Change in Net Assets
$40,176

Audited Revenue Reconciliation

Revenue per Audited Statements
$276,936
Total Revenue per Audited Statements
$276,936
Total Revenue per Form 990
$276,936
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$236,760
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
Fees for Services Management$138,375--$138,375
Fees for Services Accounting$1,275$16,443-$17,718
All Other Expenses$10,500$646-$11,146
Information Technology$5,588--$5,588
Other Expenses$5,203$1,400-$5,203
Travel$4,122--$4,122
Insurance-$3,062-$3,062
Conferences and Meetings$1,549--$1,549
Office Expenses$502$240-$742
Total Functional Expenses$214,969$21,791$0$236,760

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$236,760
Total Expenses per Audited Statements$236,760
Total Expenses per Form 990$236,760
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
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
No
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, Page 6, Part VI, Line 11B

“The board will be given the 990 to review prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“Officers, directors, and key employees review this policy at start of each year and each is asked if they have any conflicts or potential conflicts to disclose. If so, they are asked to identify them in detail.”

Form 990, Page 6, Part VI, Line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Innovative Quality Schools
EIN
27-0574007
Phone
6124927000
Address
200 SOUTH 6TH STREET SUITE 4000, MINNEAPOLIS, MN 55402

Signing Officer

Name
Dan Mott
Title
Board Chair
Phone
6124927000
Signed
2015-11-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dan Mott
Formed
2010
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Chuck Rinkey Ltd
Address
5775 WAYZATA BLVD STE 990, MINNEAPOLIS, MN 55416-1295
Preparer
Charles Rinkey
Phone
9525461052
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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD WILL BE GIVEN THE 990 TO REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OFFICERS, DIRECTORS, AND KEY EMPLOYEES REVIEW THIS POLICY AT START OF EACH YEAR AND EACH IS ASKED IF THEY HAVE ANY CONFLICTS OR POTENTIAL CONFLICTS TO DISCLOSE. IF SO, THEY ARE ASKED TO IDENTIFY THEM IN DETAIL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0122935
IRS990/TotalAssetsEOYAmt0164021
IRS990/TotalAssetsGrp/BOYAmt0122935
IRS990/TotalAssetsGrp/EOYAmt0164021
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt03300
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt021791
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0214969
IRS990/TotalFunctionalExpensesGrp/TotalAmt0236760
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0107737
IRS990/TotalLiabilitiesEOYAmt0108647
IRS990/TotalLiabilitiesGrp/BOYAmt0107737
IRS990/TotalLiabilitiesGrp/EOYAmt0108647
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt015198
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt055374
IRS990/TotalProgramServiceExpensesAmt0214969
IRS990/TotalProgramServiceRevenueAmt0273468
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0273636
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0276936
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0122935
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0164021
IRS990/TravelGrp/ProgramServicesAmt04122
IRS990/TravelGrp/TotalAmt04122
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0200 SOUTH 6TH STREET SUITE 4000
IRS990/USAddress/CityNm0MINNEAPOLIS
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055402
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.IQSMN.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DAN MOTT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum06124927000
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-11-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INNOVATIVE QUALITY SCHOOLS
ReturnHeader/Filer/BusinessNameControlTxt0INNO
ReturnHeader/Filer/EIN0270574007
ReturnHeader/Filer/PhoneNum06124927000
ReturnHeader/Filer/USAddress/AddressLine1Txt0200 SOUTH 6TH STREET SUITE 4000
ReturnHeader/Filer/USAddress/CityNm0MINNEAPOLIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055402
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411799235
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CHUCK RINKEY LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05775 WAYZATA BLVD STE 990
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MINNEAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0554161295
ReturnHeader/PreparerPersonGrp/PhoneNum09525461052
ReturnHeader/PreparerPersonGrp/PreparationDt02015-11-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHARLES RINKEY
ReturnHeader/ReturnTs02015-11-03T10:21:25-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$164,021
Liabilities
$108,647
Net assets
$55,374
Revenue
$276,936
Expenses
$236,760
Net income
$40,176
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.36$0.90$3.47$6.37$6.31$0.05
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.58$0.17$3.42$6.49$6.23$0.25
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.58$0.29$3.29$6.10$6.27$0.17
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.88$0.42$3.47$6.03$5.57$0.46
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.27$0.27$3.00$5.13$4.65$0.48
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.54$0.02$2.52$4.55$4.17$0.39
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.26$0.12$2.13$4.08$4.20$0.11
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.55$0.30$2.25$4.18$3.90$0.28
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.16$0.19$1.97$3.67$2.88$0.79
2016Detailed filing. Detailed filing data is available for this year.$1.29$0.11$1.18$3.26$2.63$0.63
2015Detailed filing. Detailed filing data is available for this year.$1.64$1.09$0.55$2.77$2.37$0.40
2014Detailed filing. Detailed filing data is available for this year.$1.23$1.08$0.15$2.51$2.51$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.49$0.34$0.15$1.97
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.26$0.28$0.02$0.61