Civic Intelligence

Innovative Quality Schools

990 • Fiscal year 2022 • EIN 27-0574007

Jul 01, 2021 to Jun 30, 2022 • Filed on Nov 28, 2022

Organization Profilewww.iqsmn.org
PO Box 580Hutchinson, MN 55350

(651) 234-0900

Siviq Scores

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

Liabilities / Assets

68th percentile

0.11x

Higher debt load relative to assets than 68% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

63rd percentile

0.07x

Higher debt load relative to revenue than 63% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

53rd percentile

7.7%

Higher net margin than 53% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

53rd percentile

$0

Higher top officer pay than 53% of similar nonprofits.

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

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

73rd percentile

19%

Faster asset growth than 73% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

60th percentile

18%

Faster revenue growth than 60% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$388,465

Up $61,126 (+19%) from 2021

Net Assets

Up

$346,545

Up $46,241 (+15%) from 2021

Liabilities

Up

$41,920

Up $14,885 (+55%) from 2021

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin53rd percentile

Revenue

Up

$603,324

Up $90,182 (+18%) from 2021

Expenses

Up

$557,083

Up $92,298 (+20%) from 2021

Net Income

Down

$46,241

Down $2,116 (-4.4%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth73rd 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

2022

Assets$388,465
Liabilities$41,920
Net Assets$346,545
Open 2022 Filing

Operations Trend

Revenue Growth60th 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

2022

Revenue$603,324
Expenses$557,083
Net Income$46,241
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Nov 28, 2022
Return Version
2021v4.2
Gross Receipts
$603,324
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

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...".

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$133,946$169,220▲ $35,274
Cash and Non-Interest-Bearing Accounts$140,940$156,066▲ $15,126
Savings and Temporary Cash Investments$50,553$50,579▲ $26
Prepaid Expenses and Deferred Charges$1,900$12,600▲ $10,700
Total Assets$327,339$388,465▲ $61,126
Liabilities
Accounts Payable and Accrued Expenses$27,035$41,920▲ $14,885
Total Liabilities$27,035$41,920▲ $14,885
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$300,304$346,545▲ $46,241
Total Net Assets Fund Balance$300,304$346,545▲ $46,241
Total Liabilities and Net Assets / Fund Balance$327,339$388,465▲ $61,126
Compensation and Service Providers
Top Officer Pay53rd percentile

Board Members and Trustees

NameTitle
Steve KellyChair
Dan MottVice Chair
Bennice YoungDirector
David JohnsonDirector
Ed DirkswagerDirector
Greg ThelenDirector
Haben GhebregergishDirector
Holly DaytonDirector
Kristin AndersonSecretary
Sarah TucherTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
StrategicTrec LLCLeadership, management and administrativPO Box 580, Hutchinson, MN 55350$170,646
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$603,282
Investment Income
$42
Other Revenue
$0
Change in Net Assets
$46,241

Audited Revenue Reconciliation

Revenue per Audited Statements
$603,324
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$603,324
Total Revenue per Form 990
$603,324
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$530,083
Grants and Similar Amounts Paid$27,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$261,560--$261,560
Fees for Services Management$169,096$16,980-$186,076
Grants to Domestic Orgs$27,000--$27,000
Fees for Services Accounting$19,303$7,345-$26,648
Conferences and Meetings$22,968$359-$23,327
Fees for Services Legal$11,579--$11,579
Insurance-$4,985-$4,985
Information Technology-$818-$818
Other Expenses$7,275$179-$179
Total Functional Expenses$518,781$38,302$0$557,083

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$557,083
Total Expenses per Audited Statements$557,083
Total Expenses per Form 990$557,083
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Level Up AcademyWhite Bear, MN501(c)(3)To provide financial support to school to assist the school in early literacy curriculum and instruction.$10,000
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 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
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, Part VI, Section B, line 11B

“A draft of Form 990 and related schedules are circulated to the Finance Committee for review before being provided to the Board of Directors for review and approval prior to filing the return.”

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

“Officers, members of the Board of Directors, and independent contractors are expected to self-disclose any conflicts of interest that arise at the time of relevance and at the start of each fiscal year.”

Form 990, Part VI, Section C, line 19

“The information is available upon request. Policies are established and approved by the governing body.”

Filing and Contact Details

Filer

Filer Name
Innovative Quality Schools
EIN
27-0574007
Phone
6512340900
Address
PO Box 580, Hutchinson, MN 55350

Signing Officer

Name
Greg Thelen
Title
Treasurer
Phone
3203335110
Signed
2022-11-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Greg Thelen
Formed
2010
Legal Domicile
Mn
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
10

Preparer

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

Additional Explanations

Form 990, Part IX, line 11G

“Applications and oversight: Program service expenses 133,404. Management and general expenses 0. Fundraising expenses 0. Total expenses 133,404. Leader contracts: Program service expenses 96,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 96,000. Application review: Program service expenses 3,555. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,555. Special assessments: Program service expenses 20,350. Management and general expenses 0. Fundraising expenses 0. Total expenses 20,350. Association Dues: Program service expenses 8,251. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,251.”

Part XII, Line 2C Explanation

“The Finance Committee recommends an Independent Auditor to the Board of Directors. The Board of Directors engages the Independent Auditor and assumes responsibility for oversight of the audit. This process has not changed from the prior year.”

Related Organization Compensation

“Made an effort to obtain information regarding whether compensation received by board members, if any, was paid from a related organization. No transactions noted.”

Financial Statement Notes

Part X, Line 2:

“Innovative Quality Schools is exempt from taxation as a nonprofit corporation in accordance with Code Section 501(c)(3) of the Internal Revenue Code and comparable state law, and contributions to it are tax deductible within the limitations prescribed by the code. Innovative Quality Schools is subject to the recognition requirements for uncertain income tax positions required by the Financial Accounting Standards Board Accounting Standards Codification 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. Innovative Quality Schools has analyzed tax positions taken for filing with Internal Revenue Service and the state jurisdiction where it operates. Innovative Quality Schools 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 Innovative Quality Schools's financial condition, results of operations, or cash flows. Accordingly, Innovative Quality Schools has not recorded any reserves or related accruals for interest and penalties for uncertain income tax positions at June 30, 2022. Innovative Quality Schools 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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IRS990/MissionDesc0Please see the mission and vision of Innovative Quality Schools (IQS) as previously stated. Decisions made by the IQS Board are guided by the following values:1) Focus on Innovation - take risks to try creative new things, challenge old processes, and continuously adapt for the betterment of student learning.2) Avoid Insularity - learn from, and be sensitive to, ideas and proposals that challenge comfort zones.3) Commit to Collaboration - be interdependent, have an open flow of ideas, listen to others, and value differences.4) Embrace Diversity - seek diversity in Board membership and sponsored schools.5) Instill Clarity and Transparency - follow fair and rigorous procedures resulting in the authorization of high quality schools focused on innovation and student achievement.6) Transformation for Educational Excellence - commit to achieving our vision, mission, and goals through continual assessment of our work and acting upon results to improve our performance.
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IRS990/OtherExpensesGrp/Desc0Bad debt
IRS990/OtherExpensesGrp/Desc1Research and Developmen
IRS990/OtherExpensesGrp/Desc2Miscellaneous
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt07636
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1179
IRS990/OtherExpensesGrp/ProgramServicesAmt07275
IRS990/OtherExpensesGrp/TotalAmt07636
IRS990/OtherExpensesGrp/TotalAmt17275
IRS990/OtherExpensesGrp/TotalAmt2179
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01900
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt012600
IRS990/PrincipalOfficerNm0Greg Thelen
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/Desc0Authorizer fees
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0602295
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0602295
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt034813
IRS990/PYInvestmentIncomeAmt040
IRS990/PYOtherExpensesAmt0429972
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0513102
IRS990/PYRevenuesLessExpensesAmt048357
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0464785
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0513142
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt046241
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0603282
IRS990/SavingsAndTempCashInvstGrp/BOYAmt050553
IRS990/SavingsAndTempCashInvstGrp/EOYAmt050579
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0200
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0200
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt042
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt040
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt058
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0116
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt065
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0321
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt042
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt040
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt058
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0116
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt065
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0321
IRS990ScheduleA/InvestmentIncomeCYPct00.00010
IRS990ScheduleA/InvestmentIncomePYPct00.00010
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99990
IRS990ScheduleA/PublicSupportPY509Pct00.99990
IRS990ScheduleA/PublicSupportTotal509Amt02396707
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearAmt0602295
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus1YearAmt0513102
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus2YearsAmt0455237
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus3YearsAmt0408231
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus4YearsAmt0417642
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt02396507
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0602295
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0513102
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0455237
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0408231
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0417842
IRS990ScheduleA/Total509Grp/TotalAmt02396707
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0602337
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0513142
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0455295
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0408347
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0417907
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02397028
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0557083
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0603324
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Innovative Quality Schools is exempt from taxation as a nonprofit corporation in accordance with Code Section 501(c)(3) of the Internal Revenue Code and comparable state law, and contributions to it are tax deductible within the limitations prescribed by the code. Innovative Quality Schools is subject to the recognition requirements for uncertain income tax positions required by the Financial Accounting Standards Board Accounting Standards Codification 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. Innovative Quality Schools has analyzed tax positions taken for filing with Internal Revenue Service and the state jurisdiction where it operates. Innovative Quality Schools 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 Innovative Quality Schools's financial condition, results of operations, or cash flows. Accordingly, Innovative Quality Schools has not recorded any reserves or related accruals for interest and penalties for uncertain income tax positions at June 30, 2022. Innovative Quality Schools 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:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0557083
IRS990ScheduleD/TotalRevenuePerForm990Amt0603324
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0603324
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0557083
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt010000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(c)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0N/A
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0To provide financial support to school to assist the school in early literacy curriculum and instruction.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Level Up Academy
IRS990ScheduleI/RecipientTable/RecipientEIN0464156040
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt02600 County Road E East
IRS990ScheduleI/RecipientTable/USAddress/CityNm0White Bear
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MN
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd055110
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0N/A
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Innovative Quality Schools records grants and other assistance based on amounts approved by the Board of Directors.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A draft of Form 990 and related schedules are circulated to the Finance Committee for review before being provided to the Board of Directors for review and approval prior to filing the return.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Officers, members of the Board of Directors, and independent contractors are expected to self-disclose any conflicts of interest that arise at the time of relevance and at the start of each fiscal year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The information is available upon request. Policies are established and approved by the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Applications and oversight: Program service expenses 133,404. Management and general expenses 0. Fundraising expenses 0. Total expenses 133,404. Leader contracts: Program service expenses 96,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 96,000. Application review: Program service expenses 3,555. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,555. Special assessments: Program service expenses 20,350. Management and general expenses 0. Fundraising expenses 0. Total expenses 20,350. Association Dues: Program service expenses 8,251. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,251.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Finance Committee recommends an Independent Auditor to the Board of Directors. The Board of Directors engages the Independent Auditor and assumes responsibility for oversight of the audit. This process has not changed from the prior year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Made an effort to obtain information regarding whether compensation received by board members, if any, was paid from a related organization. No transactions noted.
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 C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IX, line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Part XII, Line 2C Explanation
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Related Organization Compensation
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxableDistributionsInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0327339
IRS990/TotalAssetsEOYAmt0388465
IRS990/TotalAssetsGrp/BOYAmt0327339
IRS990/TotalAssetsGrp/EOYAmt0388465
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt038302
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0518781
IRS990/TotalFunctionalExpensesGrp/TotalAmt0557083
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt027035
IRS990/TotalLiabilitiesEOYAmt041920
IRS990/TotalLiabilitiesGrp/BOYAmt027035
IRS990/TotalLiabilitiesGrp/EOYAmt041920
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0300304
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0346545
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt0987
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt0987
IRS990/TotalProgramServiceExpensesAmt0518781
IRS990/TotalProgramServiceRevenueAmt0603282
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt042
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0603282
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0603324
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0327339
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0388465
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$388,465
Liabilities
$41,920
Net assets
$346,545
Revenue
$603,324
Expenses
$557,083
Net income
$46,241
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
2022Detailed filing. Detailed filing data is available for this year.$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