Civic Intelligence

Liberty Classical Academy

990 • Fiscal year 2019 • EIN 41-2000702

Jul 01, 2018 to Jun 30, 2019 • Filed on Feb 16, 2019

Organization ProfileWWW.LIBERTYCLASSICAL.COM

Refreshing map…

3878 Highland AveWhite Bear Lake, MN 55110

(651) 772-2777

Siviq Scores

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

Liabilities / Assets

48th percentile

0.07x

Higher debt load relative to assets than 48% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

27th percentile

0.02x

Higher debt load relative to revenue than 27% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

58th percentile

6.2%

Higher net margin than 58% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

44th percentile

$46,500

Higher top officer pay than 44% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

80th percentile

20%

Faster asset growth than 80% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

67th percentile

13%

Faster revenue growth than 67% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets48th percentile

Assets

Up

$834,448

Up $139,962 (+20%) from 2018

Net Assets

Up

$775,607

Up $204,855 (+36%) from 2018

Liabilities

Down

$58,841

Down $64,893 (-52%) from 2018

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin58th percentile

Revenue

Up

$3,318,660

Up $381,883 (+13%) from 2018

Expenses

Up

$3,113,805

Up $337,769 (+12%) from 2018

Net Income

Up

$204,855

Up $44,114 (+27%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

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

$30M$20M$10M$0Assets 2011: $156,375Liabilities 2011: $44,277Net Assets 2011: $112,0982011Assets 2012: $170,469Liabilities 2012: $38,670Net Assets 2012: $131,7992012Assets 2013: $131,252Liabilities 2013: $42,397Net Assets 2013: $88,8552013Assets 2014: $168,549Liabilities 2014: $43,232Net Assets 2014: $125,3172014Assets 2015: $362,954Liabilities 2015: $106,603Net Assets 2015: $256,3512015Assets 2016: $328,915Liabilities 2016: $96,025Net Assets 2016: $232,8902016Assets 2017: $527,670Liabilities 2017: $117,659Net Assets 2017: $410,0112017Assets 2018: $694,486Liabilities 2018: $123,734Net Assets 2018: $570,7522018Assets 2019: $834,448Liabilities 2019: $58,841Net Assets 2019: $775,6072019Assets 2020: $1,154,028Liabilities 2020: $432,150Net Assets 2020: $721,8782020Assets 2021: $1,655,139Liabilities 2021: $96,153Net Assets 2021: $1,558,9862021Assets 2022: $6,977,009Liabilities 2022: $715,280Net Assets 2022: $6,261,7292022Assets 2023: $10,506,539Liabilities 2023: $314,321Net Assets 2023: $10,192,2182023Assets 2025: $21,522,102Liabilities 2025: $1,409,043Net Assets 2025: $20,113,0592025

Highlighted filing

2019

Assets$834,448
Liabilities$58,841
Net Assets$775,607
Open 2019 Filing

Operations Trend

Revenue Growth67th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2011: $931,741Expenses 2011: $988,790Net Income 2011: -$57,0492011Revenue 2012: $1,073,746Expenses 2012: $1,054,045Net Income 2012: $19,7012012Expenses 2013: $1,104,0442013Revenue 2014: $1,488,905Expenses 2014: $1,452,443Net Income 2014: $36,4622014Revenue 2015: $1,822,788Expenses 2015: $1,697,754Net Income 2015: $125,0342015Revenue 2016: $1,872,589Expenses 2016: $1,896,050Net Income 2016: -$23,4612016Revenue 2017: $2,353,434Expenses 2017: $2,176,313Net Income 2017: $177,1212017Revenue 2018: $2,936,777Expenses 2018: $2,776,036Net Income 2018: $160,7412018Revenue 2019: $3,318,660Expenses 2019: $3,113,805Net Income 2019: $204,8552019Revenue 2020: $3,163,853Expenses 2020: $3,217,582Net Income 2020: -$53,7292020Revenue 2021: $4,486,494Expenses 2021: $3,649,386Net Income 2021: $837,1082021Revenue 2022: $9,261,732Expenses 2022: $4,558,989Net Income 2022: $4,702,7432022Revenue 2023: $10,270,140Expenses 2023: $6,339,651Net Income 2023: $3,930,4892023Revenue 2025: $9,754,165Expenses 2025: $7,329,691Net Income 2025: $2,424,4742025

Highlighted filing

2019

Revenue$3,318,660
Expenses$3,113,805
Net Income$204,855
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Feb 16, 2019
Return Version
2018v3.2
Gross Receipts
$3,323,913
Mission and Program Overview

Mission

Liberty classical academy is an independent private school offering college-preparatory academics and christian faith in the classical tradition for minneapolis-st. Paul students in preschool and kindergarten through the 12th grade.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$474,496$615,296▲ $140,800
Land, Buildings, and Equipment, Net$120,252$107,928▼ $12,324
Pledges and Grants Receivable$7,763$72,693▲ $64,930
Savings and Temporary Cash Investments$64,534--
Accounts Receivable-$8,937-
Prepaid Expenses and Deferred Charges$2,225$4,378▲ $2,153
Total Assets$694,486$834,448▲ $139,962
Other Assets Total$25,216$25,216→ $0
Liabilities
Deferred Revenue$101,398$37,754▼ $63,644
Accounts Payable and Accrued Expenses$22,336$21,087▼ $1,249
Total Liabilities$123,734$58,841▼ $64,893
Net Assets / Fund Balance
Unrestricted Net Assets$316,522$486,803▲ $170,281
Temporarily Rstr Net Assets$254,230$288,804▲ $34,574
Total Net Assets Fund Balance$570,752$775,607▲ $204,855
Total Liabilities and Net Assets / Fund Balance$694,486$834,448▲ $139,962

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$107,928$102,747$210,675
Compensation and Service Providers
Top Officer Pay44th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Rebekah HagstromHeadmaster/pFT$46,500$46,500

Board Members and Trustees

NameTitle
Heather BuumBoard Member
Kim KornBoard Member
Scott SochayBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$474,494
Program Service Revenue
$2,830,118
Investment Income
$2,514
Other Revenue
$11,534
All Other Contributions
$254,440
Change in Net Assets
$204,855

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,604,101
Revenue Not Reported on Financial Statements
$714,559
Revenue Not Reported on Form 990
$5,253
Other Revenue Adjustments
$714,559
Total Revenue per Audited Statements
$2,609,354
Total Revenue per Form 990
$3,318,660
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,807,554
Grants and Similar Amounts Paid$714,559
Other Expenses$591,692
Total Fundraising Expense$63,784
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,388,598$191,055$48,871$1,628,524
Grants to Domestic Individuals$714,559--$714,559
Payroll Taxes$109,867$18,796$3,867$132,530
Occupancy$109,399$18,715$3,850$131,964
Advertising$69,518-$2,089$71,607
All Other Expenses$62,330$8,220$812$71,362
Office Expenses$49,649$8,494$1,748$59,891
Current Officers, Directors, Trustees, and Key Employees-$46,500-$46,500
Other Expenses$28,482$4,873$1,002$34,357
Depreciation Depletion$26,366$4,511$928$31,805
Insurance$13,955$2,387$491$16,833
Conferences and Meetings$8,437--$8,437
Fees for Services Other$7,210$1,191-$8,401
Information Technology$4,196-$126$4,322
Total Functional Expenses$2,745,279$304,742$63,784$3,113,805

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$3,113,805
Total Expenses per Audited Statements$2,404,499
Expenses per Audited Statements$2,399,246
Expenses Not Reported on Financial Statements$714,559
Other Expense Adjustments$714,559
Expenses Not Reported on Form 990$5,253
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$5,253
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Marathon$220,054---
Total Events$220,054-$5,253$-5,253
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
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
Yes
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, Page 6, Part VI, Line 11B

“The 990 will be presented at a board meeting for approval by the board.”

Form 990, Page 6, Part VI, Line 15A

“Director's salary is determined by the board of directors.”

Form 990, Page 6, Part VI, Line 19

“Financial statements and governing documents are available upon request”

Filing and Contact Details

Filer

Filer Name
Liberty Classical Academy
EIN
41-2000702
Phone
6517722777
Address
3878 HIGHLAND AVE, WHITE BEAR LAKE, MN 55110

Signing Officer

Name
Rebekah Hagstrom
Title
Headmaster/president
Phone
6517722777
Signed
2019-02-16

Organization Details

Principal Officer
Rebekah Hagstrom
Formed
2003
Legal Domicile
Mn
Voting Board Members
4
Independent Board Members
3
Employees
76
Volunteers
52

Preparer

Firm
Harrington Langer & Associates
Address
563 PHALEN BLVD, SAINT PAUL, MN 55130
Preparer
Nichole Fairbanks
Phone
6514811128
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Liberty classical academy is an independent private school offering college-preparatory academics and christian faith in the classical tradition for minneapolis-st. Paul students in preschool and kindergarten through the 12th grade.”

Form 990, Part XI, Line 9

“Special events 5,253 financial aid -714,559 special events -5,253 financial aid 714,559”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“SPECIAL EVENTS 5,253”

Schedule D, Page 4, Part XI, Line 4B

“FINANCIAL AID 714,559”

Schedule D, Page 4, Part XII, Line 2D

“SPECIAL EVENTS 5,253”

Schedule D, Page 4, Part XII, Line 4B

“FINANCIAL AID 714,559”

Raw XML AppendixShowing 400 of 415 raw XML fields

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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IRS990/ReportOtherLiabilitiesInd0false
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IRS990ScheduleA/SchoolInd0X
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0102747
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IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0714559
IRS990ScheduleD/ExpensesSubtotalAmt02399246
IRS990ScheduleD/OtherExpensesIncludedAmt05253
IRS990ScheduleD/OtherExpensesNotIncludedAmt0714559
IRS990ScheduleD/OtherRevenueAmt05253
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0714559
IRS990ScheduleD/RevenueNotReportedAmt05253
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0714559
IRS990ScheduleD/RevenueSubtotalAmt02604101
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SPECIAL EVENTS 5,253
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FINANCIAL AID 714,559
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2SPECIAL EVENTS 5,253
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3FINANCIAL AID 714,559
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleD/TotalExpensesPerForm990Amt03113805
IRS990ScheduleD/TotalRevenuePerForm990Amt03318660
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02609354
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02404499
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOLS RACIAL NONDISCRIMINATORY POLICY IS PRINTED IN IT'S BROCHURES AND ADS
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1TEXTBOOK AID & NURSING HELP
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
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IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt0220054
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt05253
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GOLF MARATHON
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0220054
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-5253
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt05253
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt05253
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0714559
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0FINANCIAL AID IS DETERMINED BY A FAMILY'S ABILITY TO MEET EDUCATION EXPENSES. THE FINANCIAL AID DETERMINATION IS BASED ON DEMONSTRATED NEED NOT ON THE WILLINGNESS OR UNWILLINGNESS TO PAY. FINANCIAL AID IS AVAILABLE TO RETURNING CURRENT STUDENTS AND TO NEW STUDENTS WHO HAVE BEEN ACCEPTED FOR ADMISSION IN GRADES K-12.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LIBERTY CLASSICAL ACADEMY IS AN INDEPENDENT PRIVATE SCHOOL OFFERING COLLEGE-PREPARATORY ACADEMICS AND CHRISTIAN FAITH IN THE CLASSICAL TRADITION FOR MINNEAPOLIS-ST. PAUL STUDENTS IN PRESCHOOL AND KINDERGARTEN THROUGH THE 12TH GRADE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 WILL BE PRESENTED AT A BOARD MEETING FOR APPROVAL BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DIRECTOR'S SALARY IS DETERMINED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SPECIAL EVENTS 5,253 FINANCIAL AID -714,559 SPECIAL EVENTS -5,253 FINANCIAL AID 714,559
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
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IRS990/TotalContributionsAmt0474494
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02745279
IRS990/TotalFunctionalExpensesGrp/TotalAmt03113805
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03318660
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IRS990/WebsiteAddressTxt0WWW.LIBERTYCLASSICAL.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-09-23 17:36:50Z
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$834,448
Liabilities
$58,841
Net assets
$775,607
Revenue
$3,318,660
Expenses
$3,113,805
Net income
$204,855
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.5$1.41$20.1$9.75$7.33$2.42
2023Summary only. Only limited summary data is available for this year.$10.5$0.31$10.2$10.3$6.34$3.93
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.98$0.72$6.26$9.26$4.56$4.70
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.66$0.10$1.56$4.49$3.65$0.84
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.15$0.43$0.72$3.16$3.22$0.05
2019Detailed filing. Detailed filing data is available for this year.$0.83$0.06$0.78$3.32$3.11$0.20
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.69$0.12$0.57$2.94$2.78$0.16
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.53$0.12$0.41$2.35$2.18$0.18
2016Detailed filing. Detailed filing data is available for this year.$0.33$0.10$0.23$1.87$1.90$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.36$0.11$0.26$1.82$1.70$0.13
2014Detailed filing. Detailed filing data is available for this year.$0.17$0.04$0.13$1.49$1.45$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.13$0.04$0.09$1.10
2012Summary only. Only limited summary data is available for this year.$0.17$0.04$0.13$1.07$1.05$0.02
2011Summary only. Only limited summary data is available for this year.$0.16$0.04$0.11$0.93$0.99$0.06
Peer Organizations

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