Civic Intelligence

Technical Academies of Minnesota

990 • Fiscal year 2019 • EIN 46-0977989

Jul 01, 2018 to Jun 30, 2019 • Filed on Apr 30, 2020

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

65th percentile

0.21x

Higher debt load relative to assets than 65% of similar nonprofits.

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

Liabilities / Revenue

47th percentile

0.07x

Higher debt load relative to revenue than 47% of similar nonprofits.

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

Net Margin

27th percentile

-4.9%

Higher net margin than 27% of similar nonprofits.

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

Top Officer Pay

40th percentile

$24,212

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

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

Asset Growth

11th percentile

-11%

Faster asset growth than 11% of similar nonprofits.

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

Revenue Growth

42nd percentile

1.0%

Faster revenue growth than 42% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets65th percentile

Assets

Down

$715,669

Down $89,630 (-11%) from 2018

Net Assets

Down

$568,868

Down $96,643 (-15%) from 2018

Liabilities

Up

$146,801

Up $7,013 (+5.0%) from 2018

Revenue And Expenses
Liabilities / Revenue47th percentileNet Margin27th percentile

Revenue

Up

$1,961,234

Up $20,171 (+1.0%) from 2018

Expenses

Up

$2,057,877

Up $4,203 (+0.2%) from 2018

Net Income

Up

-$96,643

Up $15,968 (+14%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth11th 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 2019: $715,669Liabilities 2019: $146,801Net Assets 2019: $568,8682019Assets 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

2019

Assets$715,669
Liabilities$146,801
Net Assets$568,868
Open 2019 Filing

Operations Trend

Revenue Growth42nd 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 2019: $1,961,234Expenses 2019: $2,057,877Net Income 2019: -$96,6432019Revenue 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

2019

Revenue$1,961,234
Expenses$2,057,877
Net Income-$96,643
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Apr 30, 2020
Return Version
2018v3.1
Gross Receipts
$1,986,036
Mission and Program Overview

Mission

SEE PART I, LINE 1

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$455,889$410,237▼ $45,652
Pledges and Grants Receivable$187,597$133,096▼ $54,501
Land, Buildings, and Equipment, Net$102,851$69,352▼ $33,499
Prepaid Expenses and Deferred Charges$54,096$30,361▼ $23,735
Accounts Receivable$4,866$80▼ $4,786
Total Assets$805,299$715,669▼ $89,630
Other Assets Total$0$72,543▲ $72,543
Liabilities
Accounts Payable and Accrued Expenses$139,788$146,801▲ $7,013
Total Liabilities$139,788$146,801▲ $7,013
Net Assets / Fund Balance
Unrestricted Net Assets$665,511$568,868▼ $96,643
Total Net Assets Fund Balance$665,511$568,868▼ $96,643
Total Liabilities and Net Assets / Fund Balance$805,299$715,669▼ $89,630

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$69,352$72,674$142,026
Other Assets Org$72,543--
Compensation and Service Providers
Top Officer Pay40th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michaela BengtsonInterim Board ChairFT$20,104$4,108$24,212
Elise HagemanSecretaryFT$19,306$3,641$22,947
Michael MillerberndMemberFT$16,747$3,779$20,526

Board Members and Trustees

NameTitle
Jacklyn SkrukrudMember
Jim BarnesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,879,961
Program Service Revenue
$3,184
Investment Income
$-2,794
Other Revenue
$80,883
All Other Contributions
$5,271
Change in Net Assets
$-96,643

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,891,493
Revenue Not Reported on Financial Statements
$69,741
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$69,741
Total Revenue per Audited Statements
$1,891,493
Total Revenue per Form 990
$1,961,234
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,273,682
Other Expenses$784,195
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$770,872$77,770-$848,642
Occupancy$392,694--$392,694
Information Technology$149,910$5,045-$154,955
Other Employee Benefits$151,034$1,769-$152,803
Current Officers, Directors, Trustees, and Key Employees$119,007--$119,007
Pension Plan Contributions$69,192$12,265-$81,457
Payroll Taxes$65,884$5,889-$71,773
Fees for Services Accounting-$63,109-$63,109
Fees for Services Other$45,006$10,120-$55,126
Depreciation Depletion$23,900--$23,900
Insurance$12,519--$12,519
Travel$11,223$285-$11,508
Fees for Services Legal-$7,172-$7,172
Office Expenses$5,893$807-$6,700
Other Expenses$4,023$548-$4,023
All Other Expenses$157--$157
Total Functional Expenses$1,854,782$203,095$0$2,057,877

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,057,877
Expenses per Audited Statements$1,988,136
Total Expenses per Audited Statements$1,988,136
Expenses Not Reported on Financial Statements$69,741
Other Expense Adjustments$69,741
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
No

Governance Explanations

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
Garret Bitker
Title
Chair
Phone
3202625640
Signed
2020-04-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Garret Bitker
Formed
2012
Legal Domicile
Mn
Voting Board Members
4
Independent Board Members
2
Employees
41
Volunteers
60

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 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, 2019, there were no income tax related accrued interest or penalties recognized in either the statement of financial position or the statement of activities.”

Part XI, Line 4B - Other Adjustments:

“Negative pension expense reclassified as revenue 72,543. Loss on sale of asset reclassified as revenue -2,802.”

Part XII, Line 4B - Other Adjustments:

“Negative pension expense reclassified as revenue 72,543. Loss on sale of asset reclassified as revenue -2,802.”

Raw XML AppendixShowing 400 of 420 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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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt069352
IRS990ScheduleD/EquipmentGrp/DepreciationAmt072674
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0142026
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt069741
IRS990ScheduleD/ExpensesSubtotalAmt01988136
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt072543
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deferred outflows of pension resources
IRS990ScheduleD/OtherExpensesNotIncludedAmt069741
IRS990ScheduleD/OtherRevenuesNotIncludedAmt069741
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt069741
IRS990ScheduleD/RevenueSubtotalAmt01891493
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, 2019, there were no income tax related accrued interest or penalties recognized in either the statement of financial position or the statement of activities.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Negative pension expense reclassified as revenue 72,543. Loss on sale of asset reclassified as revenue -2,802.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Negative pension expense reclassified as revenue 72,543. Loss on sale of asset reclassified as revenue -2,802.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XI, Line 4b - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XII, Line 4b - Other Adjustments:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt069352
IRS990ScheduleD/TotalBookValueOtherAssetsAmt072543
IRS990ScheduleD/TotalExpensesPerForm990Amt02057877
IRS990ScheduleD/TotalRevenuePerForm990Amt01961234
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01891493
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01988136
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 School's nondiscriminatory policy is available in the policy handbook and on promotional materials.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1The Organization receives financial assistance from the US Department of Education and the Minnesota Department of Education.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Part I, Line 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The 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/ExplanationTxt1The 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/ExplanationTxt2The organization makes its public documents available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The 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 B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part XII, Line 2c:
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0805299
IRS990/TotalAssetsEOYAmt0715669
IRS990/TotalAssetsGrp/BOYAmt0805299
IRS990/TotalAssetsGrp/EOYAmt0715669
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01879961
IRS990/TotalEmployeeCnt041
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0203095
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01854782
IRS990/TotalFunctionalExpensesGrp/TotalAmt02057877
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0139788
IRS990/TotalLiabilitiesEOYAmt0146801
IRS990/TotalLiabilitiesGrp/BOYAmt0139788
IRS990/TotalLiabilitiesGrp/EOYAmt0146801
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0665511
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0568868
IRS990/TotalOtherCompensationAmt011528
IRS990/TotalProgramServiceExpensesAmt01854782
IRS990/TotalProgramServiceRevenueAmt03184
IRS990/TotalReportableCompFromOrgAmt056157
IRS990/TotalRevenueGrp/ExclusionAmt078089
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03184
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01961234
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt060
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0805299
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0715669
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0285
IRS990/TravelGrp/ProgramServicesAmt011223
IRS990/TravelGrp/TotalAmt011508
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0665511
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0568868
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01705 16th St NE
IRS990/USAddress/CityNm0Willmar
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd056201
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0www.technicalacademies.org
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02020-11-19 02:30:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Garret Bitker
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chair
ReturnHeader/BusinessOfficerGrp/PhoneNum03202625640
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-04-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Technical Academies of Minnesota
ReturnHeader/Filer/BusinessNameControlTxt0TECH
ReturnHeader/Filer/EIN0460977989
ReturnHeader/Filer/PhoneNum03202625640
ReturnHeader/Filer/USAddress/AddressLine1Txt01705 16th St NE
ReturnHeader/Filer/USAddress/CityNm0Willmar
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd056201
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0B3E37B4A70F79DB01CCDFD5804431210FAD83197

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$715,669
Liabilities
$146,801
Net assets
$568,868
Revenue
$1,961,234
Expenses
$2,057,877
Net income
-$96,643
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
2019Detailed filing. Detailed filing data is available for this year.$0.72$0.15$0.57$1.96$2.06$0.10
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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