Civic Intelligence

Progeny Academy Inc.

990 • Fiscal year 2021 • EIN 38-4048313

Jul 01, 2020 to Jun 30, 2021 • Filed on May 09, 2022

Organization ProfileWWW.PROGENYACADEMY.ORG
5929 Brooklyn BlvdBrooklyn Center, MN 55429

(763) 325-9150

Siviq Scores

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

Liabilities / Assets

99th percentile

2.17x

Higher debt load relative to assets than 99% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

64th percentile

0.19x

Higher debt load relative to revenue than 64% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

15th percentile

-11%

Higher net margin than 15% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

47th percentile

$45,534

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

1st percentile

-47%

Faster asset growth than 1% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

39th percentile

3.7%

Faster revenue growth than 39% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$92,019

Down $82,103 (-47%) from 2020

Net Assets

Down

-$107,928

Down $58,955 (-120%) from 2020

Liabilities

Down

$199,947

Down $23,148 (-10%) from 2020

Revenue And Expenses
Liabilities / Revenue64th percentileNet Margin15th percentile

Revenue

Up

$1,058,004

Up $37,911 (+3.7%) from 2020

Expenses

Up

$1,174,890

Up $109,950 (+10%) from 2020

Net Income

Down

-$116,886

Down $72,039 (-161%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$1.0M$500K$0-$500KAssets 2019: $47,151Liabilities 2019: $51,277Net Assets 2019: -$4,1262019Assets 2020: $174,122Liabilities 2020: $223,095Net Assets 2020: -$48,9732020Assets 2021: $92,019Liabilities 2021: $199,947Net Assets 2021: -$107,9282021Assets 2022: $642,753Liabilities 2022: $747,530Net Assets 2022: -$104,7772022Assets 2023: $669,005Liabilities 2023: $654,564Net Assets 2023: $14,4412023Assets 2025: $808,062Liabilities 2025: $656,950Net Assets 2025: $151,1122025

Highlighted filing

2021

Assets$92,019
Liabilities$199,947
Net Assets-$107,928
Open 2021 Filing

Operations Trend

Revenue Growth39th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2019: $119,919Expenses 2019: $124,045Net Income 2019: -$4,1262019Revenue 2020: $1,020,093Expenses 2020: $1,064,940Net Income 2020: -$44,8472020Revenue 2021: $1,058,004Expenses 2021: $1,174,890Net Income 2021: -$116,8862021Revenue 2022: $1,436,989Expenses 2022: $1,395,081Net Income 2022: $41,9082022Revenue 2023: $1,563,642Expenses 2023: $1,463,424Net Income 2023: $100,2182023Revenue 2025: $1,916,641Expenses 2025: $1,741,395Net Income 2025: $175,2462025

Highlighted filing

2021

Revenue$1,058,004
Expenses$1,174,890
Net Income-$116,886
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 9, 2022
Return Version
2020v4.0
Gross Receipts
$1,058,004
Mission and Program Overview

Mission

The school believes that learners come to school with a unique profile of personal and academic experience and knowledge. All students need a school environment that can specifically and accurately pinpoint strengths and areas requiring support to create an authentic and individualized learning experience where the learner is challenged and supported to meet or exceed academic standards and develops the personal attributes to achieve success in secondary learning and beyond

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$65,000$88,330▲ $23,330
Cash and Non-Interest-Bearing Accounts$56,602--
Prepaid Expenses and Deferred Charges-$3,689-
Rtn Earn Endowment Incm Other Fnds$8,958$-107,928▼ $116,886
Total Assets$121,602$92,019▼ $29,583
Liabilities
Other Liabilities$112,644$199,947▲ $87,303
Total Liabilities$112,644$199,947▲ $87,303
Net Assets / Fund Balance
Total Net Assets Fund Balance$8,958$-107,928▼ $116,886
Total Liabilities and Net Assets / Fund Balance$121,602$92,019▼ $29,583
Compensation and Service Providers
Top Officer Pay47th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Peter ZwachCommunityFT$45,534$45,534

Board Members and Trustees

NameTitle
Dr David KimoriChair
James OmmartCommunity
Lakisha WitterCommunity
Jeramie SteinertTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Safari TransportationTransportationPO BOX 6784, Minneapolis, MN 55406$170,730
Revenue and Support

Revenue Composition

Contributions and Grants
$1,058,004
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$76,016
Change in Net Assets
$-116,886

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,058,004
Total Revenue per Audited Statements
$1,058,004
Total Revenue per Form 990
$1,058,004
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$717,000
Salaries, Compensation, and Employee Benefits$457,890
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$264,720$84,787-$349,507
Fees for Services Management$160,485$100,944-$261,429
Travel$174,265--$174,265
Occupancy$150,035--$150,035
Other Employee Benefits$51,986$4,022-$56,008
Pension Plan Contributions$20,977$6,044-$27,021
Payroll Taxes$19,436$5,918-$25,354
Other Expenses$68,783$14,655-$14,655
Interest$13,528--$13,528
Insurance$9,886--$9,886
Office Expenses-$7,158-$7,158
Total Functional Expenses$934,101$240,789$0$1,174,890

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,174,890
Total Expenses per Audited Statements$1,174,890
Total Expenses per Form 990$1,174,890
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accounts Payable and Accruals$199,947
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“Business management office, inc. Provides costomary financial services that include some defined by this form as "management services", including assistance with preparing and monitoring budgets.”

Form 990, Page 6, Part VI, Line 6

“The organization has two voting classes of membership designated a "enrollee members- and "employee members". Enrollment of a child in the organization shall qaulify the parent(s) or legal guardian(s) of such child for membership during the child's enrollment. Paid employment by organization shall qualify the employee for membership during the term of their employment.”

Form 990, Page 6, Part VI, Line 7A

“All members in good standing are eligible to vote for the board members at the annual meeting in person or by proxy.”

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

“A draft to the form 990 is reviewed by the financial consultant prior to approval.”

Form 990, Page 6, Part VI, Line 19

“Governing documents, conflict of interest and financial statements would be made available upon request.”

Filing and Contact Details

Filer

Filer Name
Progeny Academy Inc
EIN
38-4048313
Phone
7633259150
Address
5929 BROOKLYN BLVD, BROOKLYN CENTER, MN 55429

Signing Officer

Name
Nicole Nelson Director
Title
Director
Phone
6512558858
Signed
2022-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nicole Nelson Director
Formed
2017
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
5
Employees
16

Preparer

Firm
Chuck Rinkey Ltd
Address
5775 WAYZATA BLVD STE 990, MINNEAPOLIS, MN 55416-1295
Preparer
Charles Rinkey
Phone
9525461052
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The school believes that learners come to school with a unique profile of personal and academic experience and knowledge. All students need a school environment that can specifically and accurately pinpoint strengths and areas requiring support to create an authentic and individualized learning experience where the learner is challenged and supported to meet or exceed academic standards and develops the personal attributes to achieve success in secondary learning and beyond”

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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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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THROUGH BROADCAST MEDIA
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1AS A PUBLIC SCHOOL, THE SCHOOL RECEIVES STATE AND FEDERAL FUNDING.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL BELIEVES THAT LEARNERS COME TO SCHOOL WITH A UNIQUE PROFILE OF PERSONAL AND ACADEMIC EXPERIENCE AND KNOWLEDGE. ALL STUDENTS NEED A SCHOOL ENVIRONMENT THAT CAN SPECIFICALLY AND ACCURATELY PINPOINT STRENGTHS AND AREAS REQUIRING SUPPORT TO CREATE AN AUTHENTIC AND INDIVIDUALIZED LEARNING EXPERIENCE WHERE THE LEARNER IS CHALLENGED AND SUPPORTED TO MEET OR EXCEED ACADEMIC STANDARDS AND DEVELOPS THE PERSONAL ATTRIBUTES TO ACHIEVE SUCCESS IN SECONDARY LEARNING AND BEYOND
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BUSINESS MANAGEMENT OFFICE, INC. PROVIDES COSTOMARY FINANCIAL SERVICES THAT INCLUDE SOME DEFINED BY THIS FORM AS "MANAGEMENT SERVICES", INCLUDING ASSISTANCE WITH PREPARING AND MONITORING BUDGETS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS TWO VOTING CLASSES OF MEMBERSHIP DESIGNATED A "ENROLLEE MEMBERS- AND "EMPLOYEE MEMBERS". ENROLLMENT OF A CHILD IN THE ORGANIZATION SHALL QAULIFY THE PARENT(S) OR LEGAL GUARDIAN(S) OF SUCH CHILD FOR MEMBERSHIP DURING THE CHILD'S ENROLLMENT. PAID EMPLOYMENT BY ORGANIZATION SHALL QUALIFY THE EMPLOYEE FOR MEMBERSHIP DURING THE TERM OF THEIR EMPLOYMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL MEMBERS IN GOOD STANDING ARE ELIGIBLE TO VOTE FOR THE BOARD MEMBERS AT THE ANNUAL MEETING IN PERSON OR BY PROXY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A DRAFT TO THE FORM 990 IS REVIEWED BY THE FINANCIAL CONSULTANT PRIOR TO APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS, CONFLICT OF INTEREST AND FINANCIAL STATEMENTS WOULD BE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0121602
IRS990/TotalAssetsEOYAmt092019
IRS990/TotalAssetsGrp/BOYAmt0121602
IRS990/TotalAssetsGrp/EOYAmt092019
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01058004
IRS990/TotalEmployeeCnt016
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0240789
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0934101
IRS990/TotalFunctionalExpensesGrp/TotalAmt01174890
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0112644
IRS990/TotalLiabilitiesEOYAmt0199947
IRS990/TotalLiabilitiesGrp/BOYAmt0112644
IRS990/TotalLiabilitiesGrp/EOYAmt0199947
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt08958
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-107928
IRS990/TotalProgramServiceExpensesAmt0934101
IRS990/TotalReportableCompFromOrgAmt045534
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01058004
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0121602
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt092019
IRS990/TravelGrp/ProgramServicesAmt0174265
IRS990/TravelGrp/TotalAmt0174265
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.PROGENYACADEMY.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0NICOLE NELSON DIRECTOR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06512558858
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PROGENY ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0PROG
ReturnHeader/Filer/EIN0384048313
ReturnHeader/Filer/PhoneNum07633259150
ReturnHeader/Filer/USAddress/AddressLine1Txt05929 BROOKLYN BLVD
ReturnHeader/Filer/USAddress/CityNm0BROOKLYN CENTER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055429
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/PreparationDt02022-05-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHARLES RINKEY
ReturnHeader/ReturnTs02022-05-12T17:25:37-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0NICOLE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0NELSON
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$92,019
Liabilities
$199,947
Net assets
-$107,928
Revenue
$1,058,004
Expenses
$1,174,890
Net income
-$116,886
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.81$0.66$0.15$1.92$1.74$0.18
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.67$0.65$0.01$1.56$1.46$0.10
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.64$0.75$0.10$1.44$1.40$0.04
2021Detailed filing. Detailed filing data is available for this year.$0.09$0.20$0.11$1.06$1.17$0.12
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.17$0.22$0.05$1.02$1.06$0.04
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.05$0.05$0.00$0.12$0.12$0.00