Civic Intelligence

Arch Academy Minnesota Comeback

990 • Fiscal year 2014 • EIN 45-4631052

Jul 01, 2013 to Jun 30, 2014 • Filed on May 13, 2015

3216 East 29th StreetMinneapolis, MN 55407

(612) 293-9088

Siviq Scores

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

Liabilities / Assets

96th percentile

1.37x

Higher debt load relative to assets than 96% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

64th percentile

0.22x

Higher debt load relative to revenue than 64% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

25th percentile

-6.4%

Higher net margin than 25% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

63rd percentile

$86,560

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 8.1% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

91st percentile

44%

Faster asset growth than 91% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

98th percentile

406%

Faster revenue growth than 98% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Assets

Up

$174,022

Up $53,554 (+44%) from 2013

Net Assets

Down

-$64,065

Down $68,614 (-1508%) from 2013

Liabilities

Up

$238,087

Up $122,168 (+105%) from 2013

Revenue

Up

$1,064,214

Up $853,870 (+406%) from 2013

Expenses

Up

$1,132,828

Up $927,033 (+450%) from 2013

Net Income

Down

-$68,614

Down $73,163 (-1608%) from 2013

Historical Trend

Balance Sheet Trend

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

$300K$200K$100K$0-$100K-$200KAssets 2013: $120,468Liabilities 2013: $115,919Net Assets 2013: $4,5492013Assets 2014: $174,022Liabilities 2014: $238,087Net Assets 2014: -$64,0652014Assets 2015: $38,738Liabilities 2015: $194,532Net Assets 2015: -$155,7942015Assets 2016: $0Liabilities 2016: $0Net Assets 2016: $02016

Highlighted filing

2014

Assets$174,022
Liabilities$238,087
Net Assets-$64,065

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2013: $210,344Expenses 2013: $205,795Net Income 2013: $4,5492013Revenue 2014: $1,064,214Expenses 2014: $1,132,828Net Income 2014: -$68,6142014Revenue 2015: -$4,693Expenses 2015: $87,036Net Income 2015: -$91,7292015Revenue 2016: $0Expenses 2016: $0Net Income 2016: $02016

Highlighted filing

2014

Revenue$1,064,214
Expenses$1,132,828
Net Income-$68,614
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
May 13, 2015
Return Version
2013v4.0
Gross Receipts
$1,064,214
Mission and Program Overview

Mission

At Arch Academy, we honor the hopes and dreams you have for your child. We believe that a great education will give them the opportunity to turn these hopes and dreams into reality. Arch Academy is THE choice for a school that will deliver a quality, college-prep education to your child.

Arch Academy is a charter school serving kindergarten through 3rd grade.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$28,789$104,322▲ $75,533
Land, Buildings, and Equipment, Net$4,549$56,529▲ $51,980
Cap Stk Tr Prin Current Funds$4,549$56,529▲ $51,980
Cash and Non-Interest-Bearing Accounts$84,230$11,711▼ $72,519
Prepaid Expenses and Deferred Charges$2,900$1,460▼ $1,440
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$-120,594▼ $120,594
Total Assets$120,468$174,022▲ $53,554
Liabilities
Accounts Payable and Accrued Expenses$13,824$177,796▲ $163,972
Unsecured Notes Loans Payable-$60,000-
Deferred Revenue$102,095$291▼ $101,804
Total Liabilities$115,919$238,087▲ $122,168
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,549$-64,065▼ $68,614
Total Liabilities and Net Assets / Fund Balance$120,468$174,022▲ $53,554

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$56,529$7,403$63,932
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Angela MansfieldDirectorFT$80,000$6,560$86,560

Board Members and Trustees

NameTitle
Scott BrenerBoard Chair
Andrew HopkinsVice Chair
Bondo NyembweBoard Member
Kendall CarlsonBoard Member
Allen HoffmanTreasuer
Revenue and Support

Revenue Composition

Contributions and Grants
$324,156
Program Service Revenue
$740,058
Investment Income
$0
Other Revenue
$0
All Other Contributions
$238,845
Change in Net Assets
$-68,614

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,064,214
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,064,214
Total Revenue per Form 990
$1,064,214
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$748,336
Salaries, Compensation, and Employee Benefits$384,492
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$186,139$43,431-$229,570
Fees for Services Other$149,082$73,728-$222,810
Occupancy$159,271$281-$159,552
Current Officers, Directors, Trustees, and Key Employees-$82,500-$82,500
Office Expenses$16,438$53,617-$70,055
Other Expenses$66,148--$66,148
Other Employee Benefits$19,449$7,371-$26,820
Payroll Taxes$14,686$9,640-$24,326
Pension Plan Contributions$12,349$8,927-$21,276
Information Technology$20,065--$20,065
Payments to Affiliates$5,164$11,302-$16,466
Fees for Services Management-$13,215-$13,215
Insurance$10,888--$10,888
Depreciation Depletion$6,898--$6,898
Interest$2,796--$2,796
Conferences and Meetings$997--$997
Total Functional Expenses$828,816$304,012$0$1,132,828

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,132,828
Total Expenses per Audited Statements$1,132,828
Total Expenses per Form 990$1,132,828
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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, Part VI, Section B, line 11

The Form 990 is prepared by an independent accounting firm. Once the Form is completed, it is given to the Executive Director for review before it is signed and filed. The entire 990 is reviewed by the board.

Form 990, Part VI, Section B, line 12C

Board members sign a conflict of interest statement annually. The board also reviews the conflict of interest policy annually and makes changes as necessary.

Form 990, Part VI, Section B, line 15A

An annual review is completed by the governing board. The finance committee of the Board review compensation and recommend approval by the board. A written agreement is put in place.

Form 990, Part VI, Section C, line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Form 990, Part VI, Section B, Line 12C, Selection of Auditor

The School Board assumes responsbility for oversight of the audit of its financial statements and selection of an independent accountant annually.

Form 990, Part VI, Section A, Line 1B, Independent Board Members

Several members of the Board are expected to be teachers at the School. Minnesota State Statute 124D.10 subd. 4 (g) requires the Board to have at least one employed or contracted teacher.

Filing and Contact Details

Filer

EIN
45-4631052
Phone
6122939088

Signing Officer

Name
Scott Brener
Title
Board Chair
Phone
9528384230
Signed
2015-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Scott Brener
Formed
2013
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
5
Employees
9
Volunteers
12

Preparer

Preparer
Thomas A Karnowski
Phone
9525450424
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

Consulting and other fees related to Program services: Program service expenses 106,967. Management and general expenses 0. Fundraising expenses 0. Total expenses 106,967. Field Trip : Program service expenses 42,115. Management and general expenses 0. Fundraising expenses 0. Total expenses 42,115. Consulting fees and other related to Management: Program service expenses 0. Management and general expenses 73,728. Fundraising expenses 0. Total expenses 73,728.

Authorizer

The School is required to have an Authorizer to monitor its operations in order to maintain its charter. The School's approved authorizer for the fiscal year 2014 was Student Achievement Minnesota, LLC (the Center).

Form 990 PART III

The Academy approved a resolution to cease providing services to students at the Academy as of July 18, 2014. All assets will be liquidated in accordance with state statutes.

Financial Statement Notes

Part X, Line 2:

The Academy is exempt from federal and state income taxes under Internal Revenue Service Code 501(c)(3). The Academy is subject to tax on income from any unrelated business. The Academy is subject to the recognition requirements for uncertain income tax positions as required by the Financial Accounting Standards Board (FASB) Accounting Standards Codification 740 10 (formerly known as FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes). 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 effect on their respective financial condition, results of operations, 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, 2014.

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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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IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01132828
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01064214
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Academy is exempt from federal and state income taxes under Internal Revenue Service Code 501(c)(3). The Academy is subject to tax on income from any unrelated business. The Academy is subject to the recognition requirements for uncertain income tax positions as required by the Financial Accounting Standards Board (FASB) Accounting Standards Codification 740 10 (formerly known as FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes). 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 effect on their respective financial condition, results of operations, 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, 2014.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt056529
IRS990ScheduleD/TotalExpensesPerForm990Amt01132828
IRS990ScheduleD/TotalRevenuePerForm990Amt01064214
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01064214
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01132828
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd00
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The policy is communicated in all solicitations and registration materials.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1The School does not provide Scholarships or other financial assistance.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2As a Minnesota Public Charter School, the school receives state education and federal grant funding.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Part I, Line 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Part I, Line 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Form 990 is prepared by an independent accounting firm. Once the Form is completed, it is given to the Executive Director for review before it is signed and filed. The entire 990 is reviewed by the board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Board members sign a conflict of interest statement annually. The board also reviews the conflict of interest policy annually and makes changes as necessary.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2An annual review is completed by the governing board. The finance committee of the Board review compensation and recommend approval by the board. A written agreement is put in place.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Consulting and other fees related to Program services: Program service expenses 106,967. Management and general expenses 0. Fundraising expenses 0. Total expenses 106,967. Field Trip : Program service expenses 42,115. Management and general expenses 0. Fundraising expenses 0. Total expenses 42,115. Consulting fees and other related to Management: Program service expenses 0. Management and general expenses 73,728. Fundraising expenses 0. Total expenses 73,728.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The School Board assumes responsbility for oversight of the audit of its financial statements and selection of an independent accountant annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Several members of the Board are expected to be teachers at the School. Minnesota State Statute 124D.10 subd. 4 (g) requires the Board to have at least one employed or contracted teacher.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7The School is required to have an Authorizer to monitor its operations in order to maintain its charter. The School's approved authorizer for the fiscal year 2014 was Student Achievement Minnesota, LLC (the Center).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8The Academy approved a resolution to cease providing services to students at the Academy as of July 18, 2014. All assets will be liquidated in accordance with state statutes.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 12C, SELECTION OF AUDITOR
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION A, LINE 1B, INDEPENDENT BOARD MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7AUTHORIZER
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990 PART iii
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToProxyTaxInd00
IRS990/TaxableDistributionsInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0120468
IRS990/TotalAssetsEOYAmt0174022
IRS990/TotalAssetsGrp/BOYAmt0120468
IRS990/TotalAssetsGrp/EOYAmt0174022
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0324156
IRS990/TotalEmployeeCnt09
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0304012
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0828816
IRS990/TotalFunctionalExpensesGrp/TotalAmt01132828
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0115919
IRS990/TotalLiabilitiesEOYAmt0238087
IRS990/TotalLiabilitiesGrp/BOYAmt0115919
IRS990/TotalLiabilitiesGrp/EOYAmt0238087
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04549
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-64065
IRS990/TotalOtherCompensationAmt06560
IRS990/TotalProgramServiceExpensesAmt0828816
IRS990/TotalProgramServiceRevenueAmt0740058
IRS990/TotalReportableCompFromOrgAmt080000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0740058
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01064214
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt012
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0120468
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0174022
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt060000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine103500 American Blvd
IRS990/USAddress/City0Bloomington
IRS990/USAddress/State0MN
IRS990/USAddress/ZIPCode055431
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Scott Brener
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board Chair
ReturnHeader/BusinessOfficerGrp/PhoneNum09528384230
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine10Arch Academy
ReturnHeader/Filer/BusinessNameControlTxt0ARCH
ReturnHeader/Filer/EIN0454631052
ReturnHeader/Filer/PhoneNum06122939088
ReturnHeader/Filer/USAddress/AddressLine103216 East 29th Street
ReturnHeader/Filer/USAddress/City0Minneapolis
ReturnHeader/Filer/USAddress/State0MN
ReturnHeader/Filer/USAddress/ZIPCode055407
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411690382
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10Malloy Montague Karnowski Radosevich
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine105353 Wayzata Blvd Suite 410

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