Civic Intelligence

Genesis Classical Academy Inc.

990 • Fiscal year 2022 • EIN 45-4494392

Jul 01, 2021 to Jun 30, 2022 • Filed on Mar 09, 2023

PO Box 735Winnebago, MN 56098

(507) 893-3600

Siviq Scores

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

Liabilities / Assets

84th percentile

0.38x

Higher debt load relative to assets than 84% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

82nd percentile

0.33x

Higher debt load relative to revenue than 82% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

51st percentile

6.6%

Higher net margin than 51% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

69th percentile

$54,400

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 6.2% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

53rd percentile

3.2%

Faster asset growth than 53% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

76th percentile

43%

Faster revenue growth than 76% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Assets

Up

$750,706

Up $23,143 (+3.2%) from 2021

Net Assets

Up

$465,450

Up $137,887 (+42%) from 2021

Liabilities

Down

$285,256

Down $114,744 (-29%) from 2021

Revenue

Up

$874,452

Up $261,439 (+43%) from 2021

Expenses

Up

$816,775

Up $140,453 (+21%) from 2021

Net Income

Up

$57,677

Up $120,986 (+191%) from 2021

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0-$200KAssets 2016: $43,690Liabilities 2016: $35,3612016Assets 2017: $131,482Liabilities 2017: $59,768Net Assets 2017: $71,7142017Assets 2018: $24,609Liabilities 2018: $541Net Assets 2018: $24,0682018Assets 2019: $188,061Liabilities 2019: -$796Net Assets 2019: $188,8572019Assets 2020: $465,433Liabilities 2020: $50,383Net Assets 2020: $415,0502020Assets 2021: $727,563Liabilities 2021: $400,000Net Assets 2021: $327,5632021Assets 2022: $750,706Liabilities 2022: $285,256Net Assets 2022: $465,4502022Assets 2023: $666,044Liabilities 2023: $200,235Net Assets 2023: $465,8092023Assets 2024: $545,476Liabilities 2024: $210,420Net Assets 2024: $335,0562024

Highlighted filing

2022

Assets$750,706
Liabilities$285,256
Net Assets$465,450

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2016: $169,054Expenses 2016: $164,657Net Income 2016: $4,3972016Revenue 2017: $339,029Expenses 2017: $274,087Net Income 2017: $64,9422017Revenue 2018: $289,795Expenses 2018: $336,892Net Income 2018: -$47,0972018Revenue 2019: $532,589Expenses 2019: $367,660Net Income 2019: $164,9292019Revenue 2020: $637,143Expenses 2020: $411,806Net Income 2020: $225,3372020Revenue 2021: $613,013Expenses 2021: $676,322Net Income 2021: -$63,3092021Revenue 2022: $874,452Expenses 2022: $816,775Net Income 2022: $57,6772022Revenue 2023: $779,523Expenses 2023: $865,082Net Income 2023: -$85,5592023Revenue 2024: $849,118Expenses 2024: $890,590Net Income 2024: -$41,4722024

Highlighted filing

2022

Revenue$874,452
Expenses$816,775
Net Income$57,677
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Mar 9, 2023
Return Version
2021v4.2
Gross Receipts
$891,481
Mission and Program Overview

Mission

The academic and spiritual education of students using the classical methodology of grammer, logic and thetoric and the spiritual guidance found in christianity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$532,024$555,366▲ $23,342
Cash and Non-Interest-Bearing Accounts$54,003$110,091▲ $56,088
Investments in Publicly Traded Securities$84,873$72,982▼ $11,891
Savings and Temporary Cash Investments$118,846$5,165▼ $113,681
Accounts Receivable$-62,232$2,455▲ $64,687
Prepaid Expenses and Deferred Charges$49$49→ $0
Total Assets$727,563$750,706▲ $23,143
Other Assets Total-$4,598-
Liabilities
Other Liabilities$400,000$285,256▼ $114,744
Total Liabilities$400,000$285,256▼ $114,744
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$327,563$465,450▲ $137,887
Total Net Assets Fund Balance$327,563$465,450▲ $137,887
Total Liabilities and Net Assets / Fund Balance$727,563$750,706▲ $23,143

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$500,051-$500,051
Equipment$37,938-$37,938
Land$17,377-$17,377
Other Assets Org$4,598--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Renee DoyleHeadmasterFT$54,400$54,400

Board Members and Trustees

NameTitle
William EricksonBoard Chair
Joshua StenslandDirector
Lois WillmertDirector
Randy GettisDirector
Richard MillerNon-voting Treasurer
Lance SlaterSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$398,190
Program Service Revenue
$440,998
Investment Income
$2,797
Other Revenue
$32,467
All Other Contributions
$376,985
Change in Net Assets
$57,677
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$583,094
Other Expenses$233,681
Total Fundraising Expense$350
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$338,098$185,199-$523,297
All Other Expenses$84,092$31,723$350$116,165
Payroll Taxes$47,181--$47,181
Occupancy$39,940$2,572-$42,512
Insurance$1,272$13,755-$15,027
Other Employee Benefits$10,221$2,395-$12,616
Information Technology$2,683$3,945-$6,628
Office Expenses$6,037--$6,037
Advertising$1,947$638-$2,585
Fees for Services Legal-$2,403-$2,403
Other Expenses$276$2,221-$276
Total Functional Expenses$571,284$245,141$350$816,775
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$24,404
Gaming Gross Income$13,823
Fundraising Direct Expenses$5,724
Gaming Direct Expenses$1,991
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Sf Auction$12,900$12,900-$12,900
Spring Fling$24,404$11,654$1,010$10,644
Total Events$37,304$24,554$17,738$6,816
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Mortgage Payable - Atc Property$284,208
Payroll Liabilities$1,048
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Officer directors etc family relationship Part VI line 2

William erickson is the president of 1st financial bank of winnebago. Joshua stensland is a loan officer at 1st financial bank.

Form 990 governing body review Part VI line 11

Form 990 and supporting schedules are on file in the head masters office and are available to review by the board of directors prior to submission.

CEO executive director top management comp Part VI line 15A

Compensation set commensurate with the highests teachers salary.

Other officer or key employee compensation Part VI line 15B

Compensation set commensurate with the highests teachers salary.

Governing documents etc available to public Part VI line 19

Section c, line 19 - documents are filed in the head masters office and are available upon request.

Filing and Contact Details

Filer

Filer Name
Genesis Classical Academy Inc
EIN
45-4494392
Address
PO BOX 735, Winnebago, MN 56098

Signing Officer

Name
Renee Doyle
Title
Head Master
Phone
5078933600
Signed
2023-03-09
Discuss with paid preparer
Yes

Organization Details

Formed
2012
Legal Domicile
Mn
Voting Board Members
6
Independent Board Members
5
Employees
45
Volunteers
6

Preparer

Firm
JW Accounting
Address
315 S Main Street, Blue Earth, MN 56013
Preparer
Jessica Warehime
Phone
5075262133
Supplemental Narrative

Additional Explanations

Significant program services not listed on prior year return Part III line 2

Line 2- 10th grade added to the grade levels taught.

List of other fees for services expenses Part IX line 11G

Other fees for services expenses listed on detail worksheet attached to ix line 11g

List of other expenses Part IX line 24E

List of other expenses listed on detail worksheet attached to ix line 24e

Part X response or note to any line in Part X

Line 15 - undeposited funds, receivables.

Part XI response or note to any line in Part XI

Line 9 - atc building mortgage payable

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IRS990/ProgSrvcAccomActy2Grp/Desc0CIRRICULUM: USE OF CLASSICAL TEACHING METHOD KNOWN AS LATIN TRIVIUM. FOLLOWS THE NATUREAL GROWTH OF THE CHILD THROUGH THE THREE STAGES; GRAMMER, LOGIC AND RHETORIC. THE CIRRICULUM TEACHES THE KNOWLEDGE AS WELL AS THE UNDERSTANDING AND HOW TO USE THE KNOWLEDGE ACCURATELY.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt028666
IRS990/ProgSrvcAccomActy3Grp/Desc0ADDITION OF 10TH GRADE: EXPANSION OF THE GRADE LEVELS TO CONTINUE OFFERING THE ACADEMIC AND SPIRITUAL EDUCATION FOR THE STUDENTS AS THEY CONTINUE TO GROW AND PROGRESS.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt011704
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt013625
IRS990/ProgSrvcAccomActyOtherGrp/Desc0ALL OVER PROGRAM SERVICES LISTED ON OVERFLOW SHEETS 1-3.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt0490338
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt032710
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0304721
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0854
IRS990/PYOtherExpensesAmt0221417
IRS990/PYOtherRevenueAmt029948
IRS990/PYProgramServiceRevenueAmt0277490
IRS990/PYRevenuesLessExpensesAmt0-63309
IRS990/PYSalariesCompEmpBnftPaidAmt0454905
IRS990/PYTotalExpensesAmt0676322
IRS990/PYTotalRevenueAmt0613013
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt057677
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt050423
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0118846
IRS990/SavingsAndTempCashInvstGrp/EOYAmt05165
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0500051
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0500051
IRS990ScheduleD/EquipmentGrp/BookValueAmt037938
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt037938
IRS990ScheduleD/LandGrp/BookValueAmt017377
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt017377
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt04598
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0UNDEPOSITED FUNDS- RECEIVABLES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0284208
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11048
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MORTGAGE PAYABLE - ATC PROPERTY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PAYROLL LIABILITIES
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0555366
IRS990ScheduleD/TotalBookValueOtherAssetsAmt04598
IRS990ScheduleD/TotalLiabilityAmt0285256
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
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/ExplanationTxt0PURSUANT TO THE MINNESOTA STATUES, GENISIS CLASSICAL ACADEMY RECEIVES TRANSPORTATION SERVICES, NURSING SERVICES, AND SOME SECULAR TEXTBOOK FUNDING THROUGH THE LOCAL SCHOOL DISTRICT. TITLE FUNDS WERE ALSO ALLOCATED AS A RESULT OF COVID-19 FUNDING.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Governmental Agency Financial Aid (Questions 6a and 6b)
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt012750
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt012750
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt017738
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentEvent1Amt01200
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentTotalEventsAmt01200
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0SPRING FLING
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0SF AUCTION
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt03164
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt03164
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt024404
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt012900
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt037304
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt011654
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt012900
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt024554
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt06816
IRS990ScheduleG/FundraisingEventInformationGrp/NonCashPrizesEvent1Amt07647
IRS990ScheduleG/FundraisingEventInformationGrp/NonCashPrizesEvent2Amt04367
IRS990ScheduleG/FundraisingEventInformationGrp/NonCashPrizesTotalEventsAmt012014
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt01010
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt01010
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt0350
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt0350
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WILLIAM ERICKSON IS THE PRESIDENT OF 1ST FINANCIAL BANK OF WINNEBAGO. JOSHUA STENSLAND IS A LOAN OFFICER AT 1ST FINANCIAL BANK.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 AND SUPPORTING SCHEDULES ARE ON FILE IN THE HEAD MASTERS OFFICE AND ARE AVAILABLE TO REVIEW BY THE BOARD OF DIRECTORS PRIOR TO SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION SET COMMENSURATE WITH THE HIGHESTS TEACHERS SALARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION SET COMMENSURATE WITH THE HIGHESTS TEACHERS SALARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SECTION C, LINE 19 - DOCUMENTS ARE FILED IN THE HEAD MASTERS OFFICE AND ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5LINE 2- 10TH GRADE ADDED TO THE GRADE LEVELS TAUGHT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6OTHER FEES FOR SERVICES EXPENSES LISTED ON DETAIL WORKSHEET ATTACHED TO IX LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7LIST OF OTHER EXPENSES LISTED ON DETAIL WORKSHEET ATTACHED TO IX LINE 24E
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8LINE 15 - UNDEPOSITED FUNDS, RECEIVABLES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9LINE 9 - ATC BUILDING MORTGAGE PAYABLE
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Significant program services not listed on prior year return Part III line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6List of other fees for services expenses Part IX line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7List of other expenses Part IX line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Part X response or note to any line in Part X
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Part XI response or note to any line in Part XI
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0true
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false

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