Civic Intelligence

Twin Cities Academy

990 • Fiscal year 2012 • EIN 41-1888852

Jul 01, 2011 to Jun 30, 2012 • Filed on Jan 29, 2013

Organization Profilewww.twincitiesacademy.org

View Organization Page

835 East 5th Street55106
Siviq Scores

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

Liabilities / Assets

60th percentile

0.22x

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

2012 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2012

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2012

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2012

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2012

Asset Growth

75th percentile

11%

Faster asset growth than 75% of similar nonprofits.

2012 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2011 to 2012

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets60th percentile

Assets

Up

$1,032,402

Up $100,986 (+11%) from 2011

Net Assets

Up

$808,944

Up $40,996 (+5.3%) from 2011

Liabilities

Up

$223,458

Up $59,990 (+37%) from 2011

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Down

$1,812,480

Down $50,357 (-2.7%) from 2011

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth75th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $936,175Liabilities 2010: $157,959Net Assets 2010: $778,2162010Assets 2011: $931,416Liabilities 2011: $163,468Net Assets 2011: $767,9482011Assets 2012: $1,032,402Liabilities 2012: $223,458Net Assets 2012: $808,9442012Assets 2013: $1,036,139Liabilities 2013: $180,179Net Assets 2013: $855,9602013Assets 2014: $1,170,866Liabilities 2014: $226,086Net Assets 2014: $944,7802014Assets 2015: $1,549,251Liabilities 2015: $1,305,935Net Assets 2015: $243,3162015Assets 2016: $1,663,360Liabilities 2016: $1,172,988Net Assets 2016: $490,3722016

Highlighted filing

2012

Assets$1,032,402
Liabilities$223,458
Net Assets$808,944
Open 2012 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,895,1122010Revenue 2011: $1,852,569Expenses 2011: $1,862,837Net Income 2011: -$10,2682011Expenses 2012: $1,812,4802012Revenue 2013: $2,052,688Expenses 2013: $2,005,672Net Income 2013: $47,0162013Revenue 2014: $2,367,532Expenses 2014: $2,278,712Net Income 2014: $88,8202014Revenue 2015: $2,878,071Expenses 2015: $2,658,598Net Income 2015: $219,4732015Revenue 2016: $3,397,875Expenses 2016: $3,150,819Net Income 2016: $247,0562016

Highlighted filing

2012

Revenue-
Expenses$1,812,480
Net Income-
Open 2012 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2011 to Jun 30, 2012
Signed
Jan 29, 2013
Return Version
2011v1.2
Gross Receipts
$1,853,476
Mission and Program Overview

Mission

Twin Cities Academy is a St. Paul Charter School, serving grades (6-8), committed to developing productive citizens through academic rigor and building character in partnership with families and the community.

Filing and Contact Details

Filer

EIN
41-1888852
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IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation0The Academy is exempt from federal and state income taxes under Internal Revenue Code 501(c)(3) and is subject to tax on income from any unrelated business. On July 1, 2009, the Academy adopted the recognition requirements for uncertain income tax positions as required by the Financial Accounting Standards Board (FASB) ASC 740-10 (formerly known as FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes), with no cumulative effect adjustment required. 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. The Academy has analyzed tax positions taken for filing with the Internal Revenue Service and state jurisdiction where they operate. The Academy believes that income tax filing positions will be sustained upon examination and do not anticipate any adjustments that would result in a material adverse affect on their respective financial condition, results of operation or cash flows. Accordingly, the Academy has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at June 30, 2012.
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IRS990ScheduleE/Form990ScheduleEPartII/Explanation0The policy is posted on the Academy's website and is printed on the application which is provided to students and prospective students.
IRS990ScheduleE/Form990ScheduleEPartII/Explanation1The Academy does not award scholarships or other financial assistance.
IRS990ScheduleE/Form990ScheduleEPartII/Explanation2The Academy receives state and federal aid payments for the purpose of providing educational services to its students.
IRS990ScheduleE/Form990ScheduleEPartII/Identifier0Explanation of Nondiscriminatory Policy Publication
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IRS990ScheduleE/Form990ScheduleEPartII/Identifier2Explanation of Government Financial Assistance
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IRS990ScheduleO/GeneralExplanation/Explanation0The 990 tax return is completed by an independent auditor and is reviewed by the Board of Directors after being submitted. The board has granted authority to Joel Michael to review and sign the return prior to being submitted. The entire board does not review the 990 prior to submission.
IRS990ScheduleO/GeneralExplanation/Explanation1For the annual audit, each board member completes a conflict of interest form which is reviewed by the board to ensure no conflicts exist. These forms are updated annually or as needed.
IRS990ScheduleO/GeneralExplanation/Explanation2The board of directors reviews and approves all compensation to employees. Compensation is determined by the market for that particular position and past preformance.
IRS990ScheduleO/GeneralExplanation/Explanation3Governing documents, conflict of interest policy's, and financial statements are available upon request.
IRS990ScheduleO/GeneralExplanation/Explanation4The Academy Board assumes responsibility for oversight of the audit of ite financial statements and selection of an independent accountant annually. This process has not changed from the prior year.
IRS990ScheduleO/GeneralExplanation/Explanation5Made an effort to obtain information on compensation, if any, was paid from a related organization. No responses received, however, the client provided a breakdown of payments between Twin Cities Academy and the Twin Cities Academy High School.
IRS990ScheduleO/GeneralExplanation/Explanation6Several members of the Board are teachers at the Academy. Minnesota State statute 124D.10 subd. 4(g) requires the Board to have at least one employed or contracted teacher.
IRS990ScheduleO/GeneralExplanation/Explanation7The Academy is required to have an Authorizer to monitor its operations in order to maintain its charter. The Academy's approved Authorizer during the fiscal year 2012 was University of St. Thomas.
IRS990ScheduleO/GeneralExplanation/Explanation8Liz Wynne, the Director/Principal, and Andrew Minck, the operations director, of the Academy received compensation from Twin Cities Academy High School. This entity is unrelated based on the Schedule R definition of a related party.
IRS990ScheduleO/GeneralExplanation/Explanation9Per review of the Schedule J instructions and the operations of the Academy's it was determined that the Schedule J is not applicable. The Academy's pay employees seperately for services rendered to the specific oganization.
IRS990ScheduleO/GeneralExplanation/Identifier0Selection of auditor
IRS990ScheduleO/GeneralExplanation/Identifier1Independent board members
IRS990ScheduleO/GeneralExplanation/Identifier2Determination of the Schedule J
IRS990ScheduleO/GeneralExplanation/ReturnReference0Form 990, Part VI, Section B, line 11
IRS990ScheduleO/GeneralExplanation/ReturnReference1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/GeneralExplanation/ReturnReference2Form 990, Part VI, Section B, line 15
IRS990ScheduleO/GeneralExplanation/ReturnReference3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/GeneralExplanation/ReturnReference4Form 990, Part XII, Line 2C:
IRS990ScheduleO/GeneralExplanation/ReturnReference5Related Organization Compensation:
IRS990ScheduleO/GeneralExplanation/ReturnReference6Form 990, Part VI, Section A, Line 1B:
IRS990ScheduleO/GeneralExplanation/ReturnReference7Authorizer:
IRS990ScheduleO/GeneralExplanation/ReturnReference8Compensation from Unrelated Entity
IRS990ScheduleO/GeneralExplanation/ReturnReference9Form 990, Schedule J, Part II
IRS990/ScheduleORequired01

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Filings

Displayed year

2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$1,032,402
Liabilities
$223,458
Net assets
$808,944
Revenue
-
Expenses
$1,812,480
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Summary only. Only limited summary data is available for this year.$1.66$1.17$0.49$3.40$3.15$0.25
2015Detailed filing. Detailed filing data is available for this year.$1.55$1.31$0.24$2.88$2.66$0.22
2014Detailed filing. Detailed filing data is available for this year.$1.17$0.23$0.94$2.37$2.28$0.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.04$0.18$0.86$2.05$2.01$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.03$0.22$0.81$1.81
2011Summary only. Only limited summary data is available for this year.$0.93$0.16$0.77$1.85$1.86$0.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.94$0.16$0.78$1.90