Civic Intelligence

Twin Cities Academy

990 • Fiscal year 2013 • EIN 41-1888852

Jul 01, 2012 to Jun 30, 2013 • Filed on Feb 09, 2014

Organization Profilewww.twincitiesacademy.org

View Organization Page

835 East 5th StreetSt Paul, MN 55106
Siviq Scores

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

Liabilities / Assets

57th percentile

0.17x

Higher debt load relative to assets than 57% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

46th percentile

0.09x

Higher debt load relative to revenue than 46% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Net Margin

49th percentile

2.3%

Higher net margin than 49% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2013

Asset Growth

43rd percentile

0.4%

Faster asset growth than 43% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

54th percentile

5.3%

Faster revenue growth than 54% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2011 to 2013

Balance Sheet
Liabilities / Assets57th percentile

Assets

Up

$1,036,139

Up $3,737 (+0.4%) from 2012

Net Assets

Up

$855,960

Up $47,016 (+5.8%) from 2012

Liabilities

Down

$180,179

Down $43,279 (-19%) from 2012

Revenue And Expenses
Liabilities / Revenue46th percentileNet Margin49th percentile

Revenue

$2,052,688

No earlier filing loaded for comparison.

Expenses

Up

$2,005,672

Up $193,192 (+11%) from 2012

Net Income

$47,016

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth43rd 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

2013

Assets$1,036,139
Liabilities$180,179
Net Assets$855,960
Open 2013 Filing

Operations Trend

Revenue Growth54th percentile

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

2013

Revenue$2,052,688
Expenses$2,005,672
Net Income$47,016
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2012 to Jun 30, 2013
Signed
Feb 9, 2014
Return Version
2012v2.1
Gross Receipts
$2,052,688
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/Form990ScheduleDPartXIII/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, 2013.
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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.
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IRS990ScheduleE/Form990ScheduleEPartII/Identifier1Explanation of Document Retention
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.
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 2013 was University of St. Thomas.
IRS990ScheduleO/GeneralExplanation/Identifier0SELECTION OF AUDITOR
IRS990ScheduleO/GeneralExplanation/Identifier1INDEPENDENT BOARD MEMBERS
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IRS990ScheduleO/GeneralExplanation/ReturnReference1Form 990, Part VI, Section B, line 12c
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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:
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IRS990/Terminated00
IRS990/TermOrPermanentEndowments00
IRS990/TheBooksAreInCareOf/AddressUS/AddressLine1022488 Chippendale Ave
IRS990/TheBooksAreInCareOf/AddressUS/City0Farmington
IRS990/TheBooksAreInCareOf/AddressUS/State0MN
IRS990/TheBooksAreInCareOf/AddressUS/ZIPCode055024
IRS990/TheBooksAreInCareOf/NameBusiness/BusinessNameLine10Beltz Kes Darling & Associates
IRS990/TheBooksAreInCareOf/TelephoneNumber06514632233
IRS990/TotalAssets/BOY01032402
IRS990/TotalAssetsBOY01032402
IRS990/TotalAssets/EOY01036139
IRS990/TotalAssetsEOY01036139

Document Assets

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Filings

Displayed year

2013 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$1,036,139
Liabilities
$180,179
Net assets
$855,960
Revenue
$2,052,688
Expenses
$2,005,672
Net income
$47,016
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