Civic Intelligence

Technical Academies of Minnesota

990 • Fiscal year 2018 • EIN 46-0977989

Jul 01, 2017 to Jun 30, 2018 • Filed on May 01, 2019

Organization Profilewww.technicalacademies.org
1705 16th St NEWillmar, MN 56201

(320) 262-5640

Siviq Scores

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

Liabilities / Assets

61st percentile

0.17x

Higher debt load relative to assets than 61% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

45th percentile

0.07x

Higher debt load relative to revenue than 45% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

26th percentile

-5.8%

Higher net margin than 26% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

19th percentile

-6.9%

Faster asset growth than 19% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

20th percentile

-12%

Faster revenue growth than 20% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets61st percentile

Assets

Down

$805,299

Down $59,730 (-6.9%) from 2017

Net Assets

Down

$665,511

Down $112,611 (-14%) from 2017

Liabilities

Up

$139,788

Up $52,881 (+61%) from 2017

Revenue And Expenses
Liabilities / Revenue45th percentileNet Margin26th percentile

Revenue

Down

$1,941,063

Down $266,542 (-12%) from 2017

Expenses

Up

$2,053,674

Up $73,270 (+3.7%) from 2017

Net Income

Down

-$112,611

Down $339,812 (-150%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth19th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2015: $615,074Liabilities 2015: $120,504Net Assets 2015: $494,5702015Assets 2016: $669,832Liabilities 2016: $118,911Net Assets 2016: $550,9212016Assets 2017: $865,029Liabilities 2017: $86,907Net Assets 2017: $778,1222017Assets 2018: $805,299Liabilities 2018: $139,788Net Assets 2018: $665,5112018Assets 2020: $2,056,935Liabilities 2020: $2,299,996Net Assets 2020: -$243,0612020Assets 2021: $2,229,340Liabilities 2021: $2,472,596Net Assets 2021: -$243,2562021Assets 2022: $2,571,849Liabilities 2022: $2,504,024Net Assets 2022: $67,8252022

Highlighted filing

2018

Assets$805,299
Liabilities$139,788
Net Assets$665,511
Open 2018 Filing

Operations Trend

Revenue Growth20th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2015: $1,711,930Expenses 2015: $1,225,663Net Income 2015: $486,2672015Revenue 2016: $1,808,733Expenses 2016: $1,752,382Net Income 2016: $56,3512016Revenue 2017: $2,207,605Expenses 2017: $1,980,404Net Income 2017: $227,2012017Revenue 2018: $1,941,063Expenses 2018: $2,053,674Net Income 2018: -$112,6112018Revenue 2020: $2,221,257Expenses 2020: $2,197,530Net Income 2020: $23,7272020Revenue 2021: $2,294,555Expenses 2021: $2,294,750Net Income 2021: -$1952021Revenue 2022: $2,553,303Expenses 2022: $2,242,222Net Income 2022: $311,0812022

Highlighted filing

2018

Revenue$1,941,063
Expenses$2,053,674
Net Income-$112,611
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 1, 2019
Return Version
2017v2.3
Gross Receipts
$1,941,063
Mission and Program Overview

Mission

The mission of TAM is to provide a student-directed learning environment that is challenging, democratic, reflective, joyful and hopeful. Students' unique developmental needs and capacities are appreciated and every student is valued as a whole human being-heart, mind, body and soul.

To provide innovative educational opportunities and develop career pathways for young adults in partnership with the public and private sector. The Technical Academies will seek to fulfill the talent needs of industry and service.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$458,062$455,889▼ $2,173
Pledges and Grants Receivable$245,162$187,597▼ $57,565
Land, Buildings, and Equipment, Net$123,679$102,851▼ $20,828
Prepaid Expenses and Deferred Charges$38,126$54,096▲ $15,970
Accounts Receivable-$4,866-
Total Assets$865,029$805,299▼ $59,730
Liabilities
Accounts Payable and Accrued Expenses$82,825$139,788▲ $56,963
Deferred Revenue$4,082--
Total Liabilities$86,907$139,788▲ $52,881
Net Assets / Fund Balance
Unrestricted Net Assets$778,122$665,511▼ $112,611
Total Net Assets Fund Balance$778,122$665,511▼ $112,611
Total Liabilities and Net Assets / Fund Balance$865,029$805,299▼ $59,730

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$102,851$57,986$160,837
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Sue BlumhoeferChair
Mike MillerberndVice Chair/Acting Chair
Billie JohnsonMember
Jim BarnesMember
Michaela BengtsonMember
Elise HagemanRecorder
Dan SwensonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
EdVisions Schools IncEducators and management501 Main Street, Henderson, MN 56044$1,026,706
Revenue and Support

Revenue Composition

Contributions and Grants
$1,930,781
Program Service Revenue
$3,525
Investment Income
$82
Other Revenue
$6,675
All Other Contributions
$15,476
Change in Net Assets
$-112,611

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,941,063
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,941,063
Total Revenue per Form 990
$1,941,063
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,932,262
Salaries, Compensation, and Employee Benefits$121,412
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$1,099,079$258,078-$1,357,157
Occupancy$413,109--$413,109
Other Salaries and Wages$87,887$6,647-$94,534
Depreciation Depletion$24,492--$24,492
Office Expenses$9,214$8,643-$17,857
Travel$10,699$4,459-$15,158
Insurance$13,729--$13,729
Other Employee Benefits$12,375$238-$12,613
Fees for Services Legal-$11,778-$11,778
Pension Plan Contributions$6,768$509-$7,277
Payroll Taxes$6,484$504-$6,988
Advertising$223$5,637-$5,860
Other Expenses$3,333$20,264-$3,333
All Other Expenses$1,979$987-$2,966
Information Technology$586--$586
Total Functional Expenses$1,735,930$317,744$0$2,053,674

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,053,674
Total Expenses per Audited Statements$2,053,674
Total Expenses per Form 990$2,053,674
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
No
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
Yes

Governance Explanations

Form 990, Part VI, Section A, line 3

“Technical Academies of Minnesota utilized a contracted education-based service organization through June 30, 2018 to provide staff and support for the education of students.”

Form 990, Part VI, Section B, line 11B

“The Form 990 is prepared by an independent accounting firm and reviewed by the school's Board Chair and financial manager. The reviewed draft of the Form 990 is provided to the board electronically prior to filing with the IRS.”

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

“The organization annually evaluates all conflict of interest policies submitted by board members and employees. The organization's policies are communicated annually to the board and employees and to new board members and employees upon joining the organization.”

Form 990, Part VI, Section C, line 19

“The organization makes its public documents available upon request.”

Filing and Contact Details

Filer

Filer Name
Technical Academies of Minnesota
EIN
46-0977989
Phone
3202625640
Address
1705 16th St NE, Willmar, MN 56201

Signing Officer

Name
Michaela Bengtson
Title
Interim Chair
Phone
3202625640
Signed
2019-05-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michaela Bengtson
Formed
2012
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
4
Employees
0
Volunteers
30

Preparer

Firm
Abdo Eick & Meyers LLP
Address
100 Warren St Ste 600, Mankato, MN 56001
Preparer
Thomas J Olinger CPA
Phone
5076252727
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

“Contracted Services - Educators: Program service expenses 966,203. Management and general expenses 0. Fundraising expenses 0. Total expenses 966,203. Contracted Services - Special Education: Program service expenses 97,781. Management and general expenses 0. Fundraising expenses 0. Total expenses 97,781. Contracted Services - Consulting/Other: Program service expenses 31,957. Management and general expenses 0. Fundraising expenses 0. Total expenses 31,957. Contracted Services - Staff: Program service expenses 3,138. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,138. Contracted Services - Financial/Business: Program service expenses 0. Management and general expenses 217,619. Fundraising expenses 0. Total expenses 217,619. Contracted Services - Business/Planning: Program service expenses 0. Management and general expenses 40,459. Fundraising expenses 0. Total expenses 40,459.”

Form 990, Part XII, Line 2C:

“The Board of Directors assumes responsibility for the oversight of the audit as well as the selection of the independent auditor.”

Financial Statement Notes

Part X, Line 2:

“Income Taxes The Charter School is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. The Charter School also qualifies as a tax-exempt organization under applicable statutes of the State of Minnesota. Management believes that it is not reasonably possible for any tax position benefits to increase or decrease significantly over the next 12 months. As of June 30, 2018, there were no income tax related accrued interest or penalties recognized in either the statement of financial position or the statement of activities. The Charter School files informational returns in the U.S. federal jurisdiction, and in the Minnesota state jurisdiction. U.S. federal returns and Minnesota returns for the prior three fiscal years are closed. No returns are currently under examination in any tax jurisdiction.”

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/PYOtherRevenueAmt00
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IRS990/PYSalariesCompEmpBnftPaidAmt081116
IRS990/PYTotalExpensesAmt01980404
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IRS990/PYTotalRevenueAmt02207605
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IRS990/ReconcilationRevenueExpnssAmt0-112611
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IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt010200
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt0102851
IRS990ScheduleD/EquipmentGrp/DepreciationAmt057986
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IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
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IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01941063
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Income Taxes The Charter School is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. The Charter School also qualifies as a tax-exempt organization under applicable statutes of the State of Minnesota. Management believes that it is not reasonably possible for any tax position benefits to increase or decrease significantly over the next 12 months. As of June 30, 2018, there were no income tax related accrued interest or penalties recognized in either the statement of financial position or the statement of activities. The Charter School files informational returns in the U.S. federal jurisdiction, and in the Minnesota state jurisdiction. U.S. federal returns and Minnesota returns for the prior three fiscal years are closed. No returns are currently under examination in any tax jurisdiction.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
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IRS990ScheduleD/TotalExpensesPerForm990Amt02053674
IRS990ScheduleD/TotalRevenuePerForm990Amt01941063
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01941063
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02053674
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/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The Organization receives financial assistance from the US Department of Education and the Minnesota Department of Education.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Technical Academies of Minnesota utilized a contracted education-based service organization through June 30, 2018 to provide staff and support for the education of students.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Form 990 is prepared by an independent accounting firm and reviewed by the school's Board Chair and financial manager. The reviewed draft of the Form 990 is provided to the board electronically prior to filing with the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization annually evaluates all conflict of interest policies submitted by board members and employees. The organization's policies are communicated annually to the board and employees and to new board members and employees upon joining the organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organization makes its public documents available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Contracted Services - Educators: Program service expenses 966,203. Management and general expenses 0. Fundraising expenses 0. Total expenses 966,203. Contracted Services - Special Education: Program service expenses 97,781. Management and general expenses 0. Fundraising expenses 0. Total expenses 97,781. Contracted Services - Consulting/Other: Program service expenses 31,957. Management and general expenses 0. Fundraising expenses 0. Total expenses 31,957. Contracted Services - Staff: Program service expenses 3,138. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,138. Contracted Services - Financial/Business: Program service expenses 0. Management and general expenses 217,619. Fundraising expenses 0. Total expenses 217,619. Contracted Services - Business/Planning: Program service expenses 0. Management and general expenses 40,459. Fundraising expenses 0. Total expenses 40,459.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The Board of Directors assumes responsibility for the oversight of the audit as well as the selection of the independent auditor.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XII, Line 2c:
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IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalCompGreaterThan150KInd00
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IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01735930
IRS990/TotalFunctionalExpensesGrp/TotalAmt02053674
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt0139788
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IRS990/TotReportableCompRltdOrgAmt00
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IRS990/TravelGrp/ProgramServicesAmt010699
IRS990/TravelGrp/TotalAmt015158
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0778122
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0665511
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01705 16th ST NE
IRS990/USAddress/CityNm0Willmar
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd056201
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0www.technicalacademies.org
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Michaela Bengtson
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Interim Chair
ReturnHeader/BusinessOfficerGrp/PhoneNum03202625640
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Technical Academies of Minnesota
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt064.88.174.3
ReturnHeader/FilingSecurityInformation/IPDt02019-05-01
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$805,299
Liabilities
$139,788
Net assets
$665,511
Revenue
$1,941,063
Expenses
$2,053,674
Net income
-$112,611
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.57$2.50$0.07$2.55$2.24$0.31
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.23$2.47$0.24$2.29$2.29$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.06$2.30$0.24$2.22$2.20$0.02
2018Detailed filing. Detailed filing data is available for this year.$0.81$0.14$0.67$1.94$2.05$0.11
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.87$0.09$0.78$2.21$1.98$0.23
2016Detailed filing. Detailed filing data is available for this year.$0.67$0.12$0.55$1.81$1.75$0.06
2015Detailed filing. Detailed filing data is available for this year.$0.62$0.12$0.49$1.71$1.23$0.49