Civic Intelligence

Progeny Academy Inc.

990 • Fiscal year 2023 • EIN 38-4048313

Jul 01, 2022 to Jun 30, 2023 • Filed on Mar 12, 2024

Organization ProfileWWW.PROGENYACADEMY.ORG
5929 Brooklyn BlvdMinneapolis, MN 55429

(763) 325-9150

Siviq Scores

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

Liabilities / Assets

94th percentile

0.98x

Higher debt load relative to assets than 94% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

78th percentile

0.42x

Higher debt load relative to revenue than 78% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

55th percentile

6.4%

Higher net margin than 55% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

46th percentile

$45,571

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 2.9% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

49th percentile

4.1%

Faster asset growth than 49% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

53rd percentile

8.8%

Faster revenue growth than 53% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$669,005

Up $26,252 (+4.1%) from 2022

Net Assets

Up

$14,441

Up $119,218 (+114%) from 2022

Liabilities

Down

$654,564

Down $92,966 (-12%) from 2022

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin55th percentile

Revenue

Up

$1,563,642

Up $126,653 (+8.8%) from 2022

Expenses

Up

$1,463,424

Up $68,343 (+4.9%) from 2022

Net Income

Up

$100,218

Up $58,310 (+139%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth49th 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

2023

Assets$669,005
Liabilities$654,564
Net Assets$14,441
Open 2023 Filing

Operations Trend

Revenue Growth53rd 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

2023

Revenue$1,563,642
Expenses$1,463,424
Net Income$100,218
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Mar 12, 2024
Return Version
2022v5.0
Gross Receipts
$1,563,642
Mission and Program Overview

Mission

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$250,418$339,783▲ $89,365
Land, Buildings, and Equipment, Net$2,368$16,984▲ $14,616
Rtn Earn Endowment Incm Other Fnds$-104,777$14,441▲ $119,218
Cash and Non-Interest-Bearing Accounts$24,855$8,998▼ $15,857
Prepaid Expenses and Deferred Charges$8,916--
Total Assets$642,753$669,005▲ $26,252
Other Assets Total$356,196$303,240▼ $52,956
Liabilities
Other Liabilities$747,530$483,059▼ $264,471
Accounts Payable and Accrued Expenses-$171,505-
Total Liabilities$747,530$654,564▼ $92,966
Net Assets / Fund Balance
Total Net Assets Fund Balance$-104,777$14,441▲ $119,218
Total Liabilities and Net Assets / Fund Balance$642,753$669,005▲ $26,252

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$16,984$4,934$21,918
Other Assets Org$303,240--
Compensation and Service Providers
Top Officer Pay46th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Peter ZwachCommunityFT$45,571$45,571

Board Members and Trustees

NameTitle
Dr David KimoriChair
James OmmartCommunity
Lakisha WitterCommunity
Jeramie SteinertTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,563,642
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$20,445
Change in Net Assets
$100,218

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,563,642
Total Revenue per Audited Statements
$1,563,642
Total Revenue per Form 990
$1,563,642
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,029,097
Salaries, Compensation, and Employee Benefits$434,327
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$310,968$34,552-$345,520
Travel$224,751$24,972-$249,723
Occupancy$174,391$19,377-$193,768
Fees for Services Other$131,085$14,565-$145,650
Other Employee Benefits$79,926$8,881-$88,807
Other Expenses$42,591$4,732-$47,323
All Other Expenses$13,775$1,416-$15,191
Information Technology$10,557$1,173-$11,730
Insurance$10,459$1,162-$11,621
Depreciation Depletion-$4,384-$4,384
Interest$1,461$162-$1,623
Total Functional Expenses$1,313,240$150,184$0$1,463,424

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,463,424
Total Expenses per Audited Statements$1,463,424
Total Expenses per Form 990$1,463,424
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
Federal income taxes$455,027
Net Pension Liability$28,032
Deferred Pension Inflows-
Accounts Payable and Accruals-
Propel Loan-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
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, Part VI, Line 3

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

Form 990, 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 qualify the parents or legal guardians of such child for membership during the chils enrollment. Paid employment by organization shall qualify the employee for membership during the term of their employment”

Form 990, 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, Part VI, Line 11B

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

Form 990, 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, Minneapolis, MN 55429

Signing Officer

Name
Nicole Nelson
Title
Director
Phone
7633259150
Signed
2024-03-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nicole Nelson
Formed
2017
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
4
Employees
13

Preparer

Firm
Thomas & Company CPA Pa
Address
9710 STIRLING RD STE 101, COOPER CITY, FL 33024
Preparer
Roby Thomas CPA
Phone
9544357272
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1

“Progeny academys educational philosophy centers on the belief that all students can learn and deserve the opportunity to access and engage in rigorous academics and receive the social/emotional support needed to develop as a well rounded, life long learner. Additionally, 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/ExplanationTxt0AS A PUBLIC SCHOOL, THE SCHOOL RECEIVES STATE AND FEDERAL FUNDING.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc06a
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROGENY ACADEMYS EDUCATIONAL PHILOSOPHY CENTERS ON THE BELIEF THAT ALL STUDENTS CAN LEARN AND DESERVE THE OPPORTUNITY TO ACCESS AND ENGAGE IN RIGOROUS ACADEMICS AND RECEIVE THE SOCIAL/EMOTIONAL SUPPORT NEEDED TO DEVELOP AS A WELL ROUNDED, LIFE LONG LEARNER. ADDITIONALLY, 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
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BUSINESS MANAGEMENT OFFICE, IMC. PROVIDES CUSTOMARY 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 QUALIFY THE PARENTS OR LEGAL GUARDIANS OF SUCH CHILD FOR MEMBERSHIP DURING THE CHILS 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 TE 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, Part I, Line 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 19
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/EOYAmt0669005
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IRS990/TotalContributionsAmt01563642
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IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01313240
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IRS990/TotalLiabilitiesGrp/EOYAmt0654564
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IRS990/TotalProgramServiceExpensesAmt01313240
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01563642
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0669005
IRS990/TravelGrp/ManagementAndGeneralAmt024972
IRS990/TravelGrp/ProgramServicesAmt0224751
IRS990/TravelGrp/TotalAmt0249723
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0Minneapolis
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055429
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IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.PROGENYACADEMY.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0NICOLE NELSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07633259150
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-03-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PROGENY ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0PROG
ReturnHeader/Filer/EIN0384048313
ReturnHeader/Filer/PhoneNum07633259150
ReturnHeader/Filer/USAddress/AddressLine1Txt05929 BROOKLYN BLVD
ReturnHeader/Filer/USAddress/CityNm0Minneapolis
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055429
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0753125446
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0THOMAS & COMPANY CPA PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09710 STIRLING RD STE 101
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0COOPER CITY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033024
ReturnHeader/PreparerPersonGrp/PhoneNum09544357272
ReturnHeader/PreparerPersonGrp/PreparationDt02024-03-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBY THOMAS CPA
ReturnHeader/ReturnTs02024-03-19T11:43:26-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0NICOLE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0NELSON
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$669,005
Liabilities
$654,564
Net assets
$14,441
Revenue
$1,563,642
Expenses
$1,463,424
Net income
$100,218
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.
2023Detailed filing. Detailed filing data is available for this year.$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
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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