Civic Intelligence

Innovative Quality Schools

990 • Fiscal year 2024 • EIN 27-0574007

Jul 01, 2023 to Jun 30, 2024 • Filed on Nov 22, 2024

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

60th percentile

0.05x

Higher debt load relative to assets than 60% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

55th percentile

0.03x

Higher debt load relative to revenue than 55% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

48th percentile

3.9%

Higher net margin than 48% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

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

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

38th percentile

-0.1%

Faster asset growth than 38% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

48th percentile

6.3%

Faster revenue growth than 48% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets60th percentile

Assets

Down

$358,049

Down $398 (-0.1%) from 2023

Net Assets

Up

$341,543

Up $12,278 (+3.7%) from 2023

Liabilities

Down

$16,506

Down $12,676 (-43%) from 2023

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin48th percentile

Revenue

Up

$648,812

Up $38,593 (+6.3%) from 2023

Expenses

Down

$623,484

Down $4,015 (-0.6%) from 2023

Net Income

Up

$25,328

Up $42,608 (+247%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth38th 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

2024

Assets$358,049
Liabilities$16,506
Net Assets$341,543
Open 2024 Filing

Operations Trend

Revenue Growth48th 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

2024

Revenue$648,812
Expenses$623,484
Net Income$25,328
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 22, 2024
Return Version
2023v5.1
Gross Receipts
$648,812
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 by providing experience, expertise, and support to our schools...". Its vision is to, "...achieve success for all learners by supporting schools engaged in educational innovation...".

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$201,918$205,305▲ $3,387
Accounts Receivable$92,571$88,881▼ $3,690
Savings and Temporary Cash Investments$50,908$61,283▲ $10,375
Prepaid Expenses and Deferred Charges$13,050$2,580▼ $10,470
Total Assets$358,447$358,049▼ $398
Liabilities
Accounts Payable and Accrued Expenses$29,182$16,506▼ $12,676
Total Liabilities$29,182$16,506▼ $12,676
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$329,265$341,543▲ $12,278
Total Net Assets Fund Balance$329,265$341,543▲ $12,278
Total Liabilities and Net Assets / Fund Balance$358,447$358,049▼ $398
Compensation and Service Providers
Top Officer Pay55th percentile

Board Members and Trustees

NameTitle
Steve KellyChair
Holly DaytonVice Chair
Bennice YoungDirector
Katie PekelDirector
Rhonda DeanDirector
Robin ManthieDirector
Tash Van LieshoutDirector
Haben GhebregergishSecretary
John SchultzTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
StrategicTrec LLCLeadership, management and administrativPO Box 580, Hutchinson, MN 55350$195,137
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$648,094
Investment Income
$718
Other Revenue
$0
Change in Net Assets
$25,328

Audited Revenue Reconciliation

Revenue per Audited Statements
$648,812
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$648,812
Total Revenue per Form 990
$648,812
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$581,005
Grants and Similar Amounts Paid$42,479
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$258,801--$258,801
Fees for Services Management$185,957$19,514-$205,471
Grants to Domestic Orgs$42,479--$42,479
Fees for Services Accounting$16,345$7,820-$24,165
Conferences and Meetings$20,685$222-$20,907
Fees for Services Legal$13,150--$13,150
Insurance-$5,323-$5,323
Other Expenses$3,901$189-$4,090
Information Technology-$3,000-$3,000
Total Functional Expenses$587,416$36,068$0$623,484

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$623,484
Total Expenses per Audited Statements$623,484
Total Expenses per Form 990$623,484
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Bdote Learning CenterMinneapolis, MN501(c)(3)Support a partnership to develop systems and processes to support governance and operations$13,174
Progeny AcademyBrooklyn Center, MN501(c)(3)PeaceMaker Minnesota Grant Partnership and Groves Literacy Partnership$8,542
Nasha ShkolaBrooklyn Park, MN501(c)(3)Support Groves Literacy$5,413
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

“The Form 990 is reviewed by the contracted management leadership team, the school's contracted finance manager, the Board Finance Committee, and the full Board. The Form 990 is approved through formal Board action prior to it being filed.”

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
John Schultz
Title
Treasurer
Phone
6512340900
Signed
2024-11-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Schultz
Formed
2010
Legal Domicile
Mn
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
12

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 108,960. Management and general expenses 0. Fundraising expenses 0. Total expenses 108,960. Leader contracts: Program service expenses 111,500. Management and general expenses 0. Fundraising expenses 0. Total expenses 111,500. Application review: Program service expenses 3,128. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,128. Special assessments: Program service expenses 23,400. Management and general expenses 0. Fundraising expenses 0. Total expenses 23,400. Association Dues: Program service expenses 11,813. Management and general expenses 0. Fundraising expenses 0. Total expenses 11,813.”

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, 2024. 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/ActivityOrMissionDesc0The mission of Innovative Quality Schools is to, "...authorize charter schools that are innovative and successful in preparing students to achieve their full potential by providing experience, expertise, and support to our schools...". Its vision is to, "...achieve success for all learners by supporting schools engaged in educational innovation...".
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IRS990/Desc0Innovative Quality Schools is a leader in authorizing Minnesota charter schools, both in Minneapolis/Saint Paul and greater Minnesota. During fiscal year 2024, Innovative Quality Schools authorized thirty-one charter schools engaged in education innovation, serving over 8,000 students. Aligned with the organization's mission, Innovative Quality Schools offered over $40,000 in grants to authorized schools in support early literacy, educational equity, and innovation.
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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.2. Organize for Educational Excellence- Commit to achieving our vision, mission and goals through the continual assessment of our work and acting upon results to improve our performance. 3. Commit to Collaboration- Be interdependent, have an open flow of ideas, listen to others, value differences, and challenge our own assumptions. 4. Ensure Accountability- Utilize fair and rigorous procedures in the authorization and evaluation of schools in our portfolio. 5. Promote Equity, Diversity, and Inclusion- Support initiatives that promote educational equity and opportunity, and seek diversity in organizational representatives
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IRS990/OtherExpensesGrp/Desc0Research and Developmen
IRS990/OtherExpensesGrp/Desc1Strategic initiatives
IRS990/OtherExpensesGrp/Desc2Innovative services
IRS990/OtherExpensesGrp/Desc3Miscellaneous
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0189
IRS990/OtherExpensesGrp/ProgramServicesAmt024536
IRS990/OtherExpensesGrp/ProgramServicesAmt111273
IRS990/OtherExpensesGrp/ProgramServicesAmt210289
IRS990/OtherExpensesGrp/ProgramServicesAmt33901
IRS990/OtherExpensesGrp/TotalAmt024536
IRS990/OtherExpensesGrp/TotalAmt111273
IRS990/OtherExpensesGrp/TotalAmt210289
IRS990/OtherExpensesGrp/TotalAmt34090
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt013050
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02580
IRS990/PrincipalOfficerNm0John Schultz
IRS990/PriorPeriodAdjustmentsAmt0-13050
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/Desc0Authorizer fees
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0639774
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0639774
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt050605
IRS990/PYInvestmentIncomeAmt0655
IRS990/PYOtherExpensesAmt0576894
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0609564
IRS990/PYRevenuesLessExpensesAmt0-17280
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0627499
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0610219
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt025328
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0648094
IRS990/SavingsAndTempCashInvstGrp/BOYAmt050908
IRS990/SavingsAndTempCashInvstGrp/EOYAmt061283
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0718
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0655
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt042
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt040
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt058
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt01513
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0718
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0655
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt042
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt040
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt058
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01513
IRS990ScheduleA/InvestmentIncomeCYPct00.00050
IRS990ScheduleA/InvestmentIncomePYPct00.00040
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt08320
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt03025
IRS990ScheduleA/OtherIncome509Grp/TotalAmt011345
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99550
IRS990ScheduleA/PublicSupportPY509Pct00.99850
IRS990ScheduleA/PublicSupportTotal509Amt02816947
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearAmt0639774
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus1YearAmt0606539
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus2YearsAmt0602295
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus3YearsAmt0513102
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus4YearsAmt0455237
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt02816947
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0639774
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0606539
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0602295
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0513102
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0455237
IRS990ScheduleA/Total509Grp/TotalAmt02816947
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0648812
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0610219
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0602337
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0513142
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0455295
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02829805
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0623484
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0648812
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, 2024. 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/TotalExpensesPerForm990Amt0623484
IRS990ScheduleD/TotalRevenuePerForm990Amt0648812
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0648812
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0623484
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt08542
IRS990ScheduleI/RecipientTable/CashGrantAmt113174
IRS990ScheduleI/RecipientTable/CashGrantAmt25413
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(c)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(c)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501(c)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0PeaceMaker Minnesota Grant Partnership and Groves Literacy Partnership
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Support a partnership to develop systems and processes to support governance and operations
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2Support Groves Literacy
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Progeny Academy
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Bdote Learning Center
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2Nasha Shkola
IRS990ScheduleI/RecipientTable/RecipientEIN0384048313
IRS990ScheduleI/RecipientTable/RecipientEIN1273168843
IRS990ScheduleI/RecipientTable/RecipientEIN2371662315
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt05929 Brooklyn Blvd
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt13216 E 29th St
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt26717 85th Ave N
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Brooklyn Center
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Minneapolis
IRS990ScheduleI/RecipientTable/USAddress/CityNm2Brooklyn Park
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1MN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2MN
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd055429
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd155406
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd255445
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/Total501c3OrgCnt03
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Form 990 is reviewed by the contracted management leadership team, the school's contracted finance manager, the Board Finance Committee, and the full Board. The Form 990 is approved through formal Board action prior to it being filed.
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 108,960. Management and general expenses 0. Fundraising expenses 0. Total expenses 108,960. Leader contracts: Program service expenses 111,500. Management and general expenses 0. Fundraising expenses 0. Total expenses 111,500. Application review: Program service expenses 3,128. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,128. Special assessments: Program service expenses 23,400. Management and general expenses 0. Fundraising expenses 0. Total expenses 23,400. Association Dues: Program service expenses 11,813. Management and general expenses 0. Fundraising expenses 0. Total expenses 11,813.
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/TotalAssetsBOYAmt0358447
IRS990/TotalAssetsEOYAmt0358049
IRS990/TotalAssetsGrp/BOYAmt0358447
IRS990/TotalAssetsGrp/EOYAmt0358049
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt036068
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0587416
IRS990/TotalFunctionalExpensesGrp/TotalAmt0623484
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt029182
IRS990/TotalLiabilitiesEOYAmt016506
IRS990/TotalLiabilitiesGrp/BOYAmt029182
IRS990/TotalLiabilitiesGrp/EOYAmt016506
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0329265

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$358,049
Liabilities
$16,506
Net assets
$341,543
Revenue
$648,812
Expenses
$623,484
Net income
$25,328
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
2024Detailed filing. Detailed filing data is available for this year.$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