Civic Intelligence

Art and Science Academy Inc.

990 • Fiscal year 2016 • EIN 46-1249634

Jul 01, 2015 to Jun 30, 2016 • Filed on May 04, 2017

Organization Profileartandscienceacademy.k12.mn.us
903 6th Ave Court NEIsanti, MN 55040

(763) 444-0342

Siviq Scores

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

Liabilities / Assets

91st percentile

0.96x

Higher debt load relative to assets than 91% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

84th percentile

0.90x

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

29th percentile

-4.6%

Higher net margin than 29% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

81st percentile

$135,899

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 4.7% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

52nd percentile

1.8%

Faster asset growth than 52% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

87th percentile

44%

Faster revenue growth than 87% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$2,690,610

Up $47,176 (+1.8%) from 2015

Net Assets

Down

$96,102

Down $133,228 (-58%) from 2015

Liabilities

Up

$2,594,508

Up $180,404 (+7.5%) from 2015

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin29th percentile

Revenue

Up

$2,877,109

Up $877,078 (+44%) from 2015

Expenses

Up

$3,010,337

Up $1,246,552 (+71%) from 2015

Net Income

Down

-$133,228

Down $369,474 (-156%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth52nd percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2015: $2,643,434Liabilities 2015: $2,414,104Net Assets 2015: $229,3302015Assets 2016: $2,690,610Liabilities 2016: $2,594,508Net Assets 2016: $96,1022016Assets 2017: $2,593,925Liabilities 2017: $3,320,054Net Assets 2017: -$726,1292017Assets 2018: $8,357,645Liabilities 2018: $10,331,700Net Assets 2018: -$1,974,0552018Assets 2019: $8,929,592Liabilities 2019: $10,515,930Net Assets 2019: -$1,586,3382019Assets 2020: $7,819,782Liabilities 2020: $9,838,693Net Assets 2020: -$2,018,9112020Assets 2021: $7,450,726Liabilities 2021: $9,618,305Net Assets 2021: -$2,167,5792021Assets 2022: $3,569,592Liabilities 2022: $4,799,864Net Assets 2022: -$1,230,2722022Assets 2023: $3,872,235Liabilities 2023: $4,231,163Net Assets 2023: -$358,9282023Assets 2024: $3,333,005Liabilities 2024: $3,110,658Net Assets 2024: $222,3472024

Highlighted filing

2016

Assets$2,690,610
Liabilities$2,594,508
Net Assets$96,102
Open 2016 Filing

Operations Trend

Revenue Growth87th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2015: $2,000,031Expenses 2015: $1,763,785Net Income 2015: $236,2462015Revenue 2016: $2,877,109Expenses 2016: $3,010,337Net Income 2016: -$133,2282016Revenue 2017: $2,955,065Expenses 2017: $3,777,296Net Income 2017: -$822,2312017Revenue 2018: $4,145,596Expenses 2018: $5,393,522Net Income 2018: -$1,247,9262018Revenue 2019: $4,703,120Expenses 2019: $4,627,108Net Income 2019: $76,0122019Revenue 2020: $4,957,802Expenses 2020: $4,677,405Net Income 2020: $280,3972020Revenue 2021: $5,099,071Expenses 2021: $4,756,608Net Income 2021: $342,4632021Revenue 2022: $5,346,674Expenses 2022: $4,744,217Net Income 2022: $602,4572022Revenue 2023: $4,979,139Expenses 2023: $4,497,524Net Income 2023: $481,6152023Revenue 2024: $5,125,729Expenses 2024: $4,535,657Net Income 2024: $590,0722024

Highlighted filing

2016

Revenue$2,877,109
Expenses$3,010,337
Net Income-$133,228
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 4, 2017
Return Version
2015v3.0
Gross Receipts
$2,877,109
Mission and Program Overview

Mission

To provide rigorous k-8 public education in science, math, technology, language arts and social studies, while integrating the visual and performing arts (visual, media, music, dance and theater) within each school day. Asa is a free public charter school staffed with highly qualified and motivated individuals.

To provide rigorous K-6 public education in science, math, technology, language arts and social studies, while integrating the visual and performing arts (visual, media, music, dance and theater) within each school day.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,327,480$2,303,146▼ $24,334
Accounts Receivable$224,618$301,686▲ $77,068
Pd in Cap Srpls Land Bldg Eqp Fund$177,480$153,146▼ $24,334
Cash and Non-Interest-Bearing Accounts$29,548$61,338▲ $31,790
Prepaid Expenses and Deferred Charges$8,429$24,440▲ $16,011
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Cap Stk Tr Prin Current Funds$51,850$-57,044▼ $108,894
Total Assets$2,643,434$2,690,610▲ $47,176
Other Assets Total$53,359$0▼ $53,359
Liabilities
Other Liabilities$2,150,000$2,263,679▲ $113,679
Mortgage Notes Payable Secured by Investment Property$150,000$170,000▲ $20,000
Accounts Payable and Accrued Expenses$112,764$160,829▲ $48,065
Deferred Revenue$1,340--
Total Liabilities$2,414,104$2,594,508▲ $180,404
Net Assets / Fund Balance
Total Net Assets Fund Balance$229,330$96,102▼ $133,228
Total Liabilities and Net Assets / Fund Balance$2,643,434$2,690,610▲ $47,176

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$2,102,222$47,778$2,150,000
Equipment$137,832$32,828$170,660
Leasehold Improvements$63,092$8,994$72,086
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Carlo GaleazziExecutive DirectorFT$121,231$14,668$135,899
Therese Zadnik-KlecherTreasurer/SecreFT$53,600$4,132$57,732
Laura RimbeyMemberFT$47,365$8,685$56,050

Board Members and Trustees

NameTitle
Sue MachertBoard Chair
Angela RuddyMember
Dick OttoMember
Linda HenningMember
Revenue and Support

Revenue Composition

Contributions and Grants
$2,754,797
Program Service Revenue
$97,958
Investment Income
$120
Other Revenue
$24,234
All Other Contributions
$4,320
Change in Net Assets
$-133,228

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,863,368
Revenue Not Reported on Financial Statements
$13,741
Other Revenue Adjustments
$13,741
Total Revenue per Audited Statements
$2,863,368
Total Revenue per Form 990
$2,877,109
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,911,644
Other Expenses$1,098,693
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,099,594$84,182-$1,183,776
Occupancy$435,138--$435,138
Current Officers, Directors, Trustees, and Key Employees$59,065$204,187-$263,252
Pension Plan Contributions$215,594$3,563-$219,157
Fees for Services Other$167,745$3,707-$171,452
Other Employee Benefits$82,000$47,542-$129,542
Payroll Taxes$86,159$27,941-$114,100
Office Expenses$49,464$32,562-$82,026
Depreciation Depletion$71,829--$71,829
Fees for Services Accounting-$54,197-$54,197
Information Technology$16,447$30,687-$47,134
Interest$22,220--$22,220
Other Expenses$16,311$346-$16,657
Conferences and Meetings$10,808$276-$11,084
All Other Expenses$8,756--$8,756
Insurance$6,009--$6,009
Fees for Services Legal-$2,888-$2,888
Advertising-$1,959-$1,959
Comp Disqual Persons$1,817--$1,817
Total Functional Expenses$2,490,193$520,144$0$3,010,337

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$3,010,337
Total Expenses per Audited Statements$2,805,225
Expenses per Audited Statements$2,757,731
Expenses Not Reported on Financial Statements$252,606
Other Expense Adjustments$252,606
Expenses Not Reported on Form 990$47,494
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Capital Lease Payable$2,150,000
Net Pension Liability, def outflow/inflo$102,608
Accrued Interest$11,071
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
Yes
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, Line 6: Explanation of Classes of Members or Shareholder

“The Academy's members include current staff member at the charter school and all parents/guardians of children enrolled at the school (one vote per household).”

Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings

“The Academy does not have any committees who have the authority to act on behalf of the governing body.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The Form 990 is prepared by their accountant and the full form is reviewed by the Director. The public disclosure version of the Form 990 is then sent to the Board of Directors for review at least one week prior to filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Any potential conflict of interests are disclosed prior to engaging or entering into a contract for the school. All board members and staff must follow the policy.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The School uses a review process of other area district schools in determining the salary compensation for the employee of the district. This includes the use of a local district's teacher salary matrix to help determine a competitive rate of pay. The Executive Director's salary is determined on comparable salaries of other charter schools as well as local public schools.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The Academy makes its governing documents, policies and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Art and Science Academy Inc
EIN
46-1249634
Phone
7634440342
Address
903 6th Ave Court NE, Isanti, MN 55040

Signing Officer

Name
Carlo Galeazzi
Title
Executive Director
Signed
2017-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carlo Galeazzi
Formed
2014
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
4
Employees
66
Volunteers
20

Preparer

Firm
Beltz Kes Darling & Associates
Address
22488 Chippendale Ave W, Farmington, MN 55024
Preparer
Theresa Kingsbury
Phone
6514632233
Supplemental Narrative

Additional Explanations

Pension Liabilities, Net of Pension Deferred Outflows & Inflows

“As a charter school in the state of Minnesota, participation in two multiple-employer, cost-sharing defined benefit pension plans is statutorily required. The schools contributions to the plans are also regulated by statute and are based on a percentage of salaries and wages earned by current employees. Therefore, while the Net Pension Liability is reported on the schools Statement of Net Position, the school is not in a position to directly control the liability or the subsequent liquidation of the liability.”

Related Board Members

“Per MN Statute 124E.07, Charter Schools are required to have licensed teachers as members of the Board of Directors. Laura Rimbey is a Board Member, but received compensation for her services as a Teacher.”

Financial Statement Notes

Part XI, Line 4B: Other revenue amounts included on 990 but not included in F/S

“State Aids relating to Pension Expense $13741”

Part XII, Line 2D: Other expenses and losses per audited F/S

“Capital Outlays $47494”

Part XII, Line 4B: Other revenue amounts included on 990 but not included in F/S

“Depreciation Expense $71827 Interest Expense $11070 Pension Expense $169709”

Raw XML AppendixShowing 400 of 488 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/Desc0Art & Science Academy is a comprehensive tuition-free public elementary school offering a rigorous academic program while integrating the visual and performing arts into each and every school day.Open to all K-7 students, Art & Science Academy is a unique learning environment where dedicated teachers inspire students to realize their potential as individuals, as students, as artists, and as members of a local and global community. Students learn in small classes, receive all necessary academic support, and participate in advanced learning opportunities during an enrichment hour at the end of each day. During fiscal year 2015-2016, Art & Science Academy served over 250 students.
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IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt00
IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
IRS990/InvestTaxExemptBondsInd0false
IRS990/IRPDocumentCnt014
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt089600
IRS990/LandBldgEquipBasisNetGrp/BOYAmt02327480
IRS990/LandBldgEquipBasisNetGrp/EOYAmt02303146
IRS990/LandBldgEquipCostOrOtherBssAmt02392746
IRS990/LegalDomicileStateCd0MN
IRS990/LicensedMoreThanOneStateInd0false
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0false
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0To provide rigorous K-6 public education in science, math, technology, language arts and social studies, while integrating the visual and performing arts (visual, media, music, dance and theater) within each school day. ASA is a free public charter school staffed with highly qualified and motivated individuals.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0150000
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0170000
IRS990/NetAssetsOrFundBalancesBOYAmt0229330
IRS990/NetAssetsOrFundBalancesEOYAmt096102
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0120
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0120
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/ExclusionAmt03818
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt03818
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ProgramServicesAmt0435138
IRS990/OccupancyGrp/TotalAmt0435138
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt032562
IRS990/OfficeExpensesGrp/ProgramServicesAmt049464
IRS990/OfficeExpensesGrp/TotalAmt082026
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt053359
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt047542
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt082000
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0129542
IRS990/OtherExpensesGrp/Desc0Instructional Supplies
IRS990/OtherExpensesGrp/Desc1Food Service
IRS990/OtherExpensesGrp/Desc2Dues & Memberships
IRS990/OtherExpensesGrp/Desc3Equip Rental & Maint
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt026107
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1346
IRS990/OtherExpensesGrp/ProgramServicesAmt073540
IRS990/OtherExpensesGrp/ProgramServicesAmt167392
IRS990/OtherExpensesGrp/ProgramServicesAmt2305
IRS990/OtherExpensesGrp/ProgramServicesAmt316311
IRS990/OtherExpensesGrp/TotalAmt073540
IRS990/OtherExpensesGrp/TotalAmt167392
IRS990/OtherExpensesGrp/TotalAmt226412
IRS990/OtherExpensesGrp/TotalAmt316657
IRS990/OtherLiabilitiesGrp/BOYAmt02150000
IRS990/OtherLiabilitiesGrp/EOYAmt02263679
IRS990/OtherRevenueMiscGrp/BusinessCd0611600
IRS990/OtherRevenueMiscGrp/Desc0Misc Revenue
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt020416
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt020416
IRS990/OtherRevenueTotalAmt020416
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt084182
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01099594
IRS990/OtherSalariesAndWagesGrp/TotalAmt01183776
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt027941
IRS990/PayrollTaxesGrp/ProgramServicesAmt086159
IRS990/PayrollTaxesGrp/TotalAmt0114100
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt0177480
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt0153146
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt03563
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0215594
IRS990/PensionPlanContributionsGrp/TotalAmt0219157
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt08429
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt024440
IRS990/PrincipalOfficerNm0Carlo Galeazzi
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611600
IRS990/ProgramServiceRevenueGrp/BusinessCd1611600
IRS990/ProgramServiceRevenueGrp/BusinessCd2611600
IRS990/ProgramServiceRevenueGrp/Desc0After School Care
IRS990/ProgramServiceRevenueGrp/Desc1Fees from Patrons
IRS990/ProgramServiceRevenueGrp/Desc2Food Sales to Pupils
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt037924
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt122459
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt237575
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt037924
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt122459
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt237575
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01932256
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0798470
IRS990/PYOtherRevenueAmt024049
IRS990/PYProgramServiceRevenueAmt043726
IRS990/PYRevenuesLessExpensesAmt0236246
IRS990/PYSalariesCompEmpBnftPaidAmt0965315
IRS990/PYTotalExpensesAmt01763785
IRS990/PYTotalRevenueAmt02000031
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-133228
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0118494
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt0137832
IRS990ScheduleD/EquipmentGrp/DepreciationAmt032828
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0170660
IRS990ScheduleD/ExpensesNotReportedAmt047494
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0252606
IRS990ScheduleD/ExpensesSubtotalAmt02757731
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt063092
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt08994
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt072086
IRS990ScheduleD/OtherExpensesIncludedAmt047494
IRS990ScheduleD/OtherExpensesNotIncludedAmt0252606
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt02102222
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt047778
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02150000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt011071
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12150000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2102608
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Accrued Interest
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Capital Lease Payable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Net Pension Liability, def outflow/inflo
IRS990ScheduleD/OtherRevenuesNotIncludedAmt013741
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt013741
IRS990ScheduleD/RevenueSubtotalAmt02863368
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0State Aids relating to Pension Expense $13741
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Capital Outlays $47494
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Depreciation Expense $71827 Interest Expense $11070 Pension Expense $169709
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XI, Line 4b: Other revenue amounts included on 990 but not included in F/S
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XII, Line 2d: Other expenses and losses per audited F/S
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02303146
IRS990ScheduleD/TotalExpensesPerForm990Amt03010337
IRS990ScheduleD/TotalLiabilityAmt02263679
IRS990ScheduleD/TotalRevenuePerForm990Amt02877109
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02863368
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02805225
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/ExplanationTxt0As a MN Public Charter School, the Academy receives state education aid and federal grant funding.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1The policy is communicated in all solicitations and registration materials.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc3Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Academy's members include current staff member at the charter school and all parents/guardians of children enrolled at the school (one vote per household).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Academy does not have any committees who have the authority to act on behalf of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Form 990 is prepared by their accountant and the full form is reviewed by the Director. The public disclosure version of the Form 990 is then sent to the Board of Directors for review at least one week prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Any potential conflict of interests are disclosed prior to engaging or entering into a contract for the school. All board members and staff must follow the policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The School uses a review process of other area district schools in determining the salary compensation for the employee of the district. This includes the use of a local district's teacher salary matrix to help determine a competitive rate of pay. The Executive Director's salary is determined on comparable salaries of other charter schools as well as local public schools.

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,690,610
Liabilities
$2,594,508
Net assets
$96,102
Revenue
$2,877,109
Expenses
$3,010,337
Net income
-$133,228
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.33$3.11$0.22$5.13$4.54$0.59
2023Detailed filing. Detailed filing data is available for this year.$3.87$4.23$0.36$4.98$4.50$0.48
2022Detailed filing. Detailed filing data is available for this year.$3.57$4.80$1.23$5.35$4.74$0.60
2021Detailed filing. Detailed filing data is available for this year.$7.45$9.62$2.17$5.10$4.76$0.34
2020Detailed filing. Detailed filing data is available for this year.$7.82$9.84$2.02$4.96$4.68$0.28
2019Detailed filing. Detailed filing data is available for this year.$8.93$10.5$1.59$4.70$4.63$0.08
2018Detailed filing. Detailed filing data is available for this year.$8.36$10.3$1.97$4.15$5.39$1.25
2017Detailed filing. Detailed filing data is available for this year.$2.59$3.32$0.73$2.96$3.78$0.82
2016Detailed filing. Detailed filing data is available for this year.$2.69$2.59$0.10$2.88$3.01$0.13
2015Detailed filing. Detailed filing data is available for this year.$2.64$2.41$0.23$2.00$1.76$0.24
Peer Organizations

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