Civic Intelligence

Minnesota Math and Science Academy

990 • Fiscal year 2021 • EIN 46-4684051

Jul 01, 2020 to Jun 30, 2021 • Filed on May 15, 2022

169 Jenks AvenueSt Paul, MN 55117

(651) 246-0845

Siviq Scores

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

Liabilities / Assets

96th percentile

1.20x

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

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

79th percentile

0.74x

Higher debt load relative to revenue than 79% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

56th percentile

16%

Higher net margin than 56% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

19th percentile

-1.9%

Faster asset growth than 19% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

62nd percentile

21%

Faster revenue growth than 62% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Assets

Down

$5,552,242

Down $105,929 (-1.9%) from 2020

Net Assets

Up

-$1,089,961

Up $1,424,195 (+57%) from 2020

Liabilities

Down

$6,642,203

Down $1,530,124 (-19%) from 2020

Revenue

Up

$8,970,460

Up $1,573,531 (+21%) from 2020

Expenses

Down

$7,546,265

Down $393,974 (-5.0%) from 2020

Net Income

Up

$1,424,195

Up $1,967,505 (+362%) from 2020

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0-$5.0MAssets 2015: $696,762Liabilities 2015: $812,239Net Assets 2015: -$115,4772015Assets 2016: $1,798,621Liabilities 2016: $1,914,310Net Assets 2016: -$115,6892016Assets 2017: $6,726,991Liabilities 2017: $7,898,762Net Assets 2017: -$1,171,7712017Assets 2018: $6,441,122Liabilities 2018: $9,086,888Net Assets 2018: -$2,645,7662018Assets 2019: $6,014,074Liabilities 2019: $7,984,920Net Assets 2019: -$1,970,8462019Assets 2020: $5,658,171Liabilities 2020: $8,172,327Net Assets 2020: -$2,514,1562020Assets 2021: $5,552,242Liabilities 2021: $6,642,203Net Assets 2021: -$1,089,9612021Assets 2022: $4,599,912Liabilities 2022: $6,829,557Net Assets 2022: -$2,229,6452022Assets 2023: $5,589,166Liabilities 2023: $6,640,961Net Assets 2023: -$1,051,7952023Assets 2024: $3,138,674Liabilities 2024: $5,515,250Net Assets 2024: -$2,376,5762024Assets 2025: $3,512,514Liabilities 2025: $5,696,480Net Assets 2025: -$2,183,9662025

Highlighted filing

2021

Assets$5,552,242
Liabilities$6,642,203
Net Assets-$1,089,961

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2015: $3,463,553Expenses 2015: $3,579,030Net Income 2015: -$115,4772015Revenue 2016: $5,192,659Expenses 2016: $5,192,871Net Income 2016: -$2122016Revenue 2017: $6,442,200Expenses 2017: $7,498,282Net Income 2017: -$1,056,0822017Revenue 2018: $6,991,473Expenses 2018: $8,465,468Net Income 2018: -$1,473,9952018Revenue 2019: $6,878,540Expenses 2019: $6,203,620Net Income 2019: $674,9202019Revenue 2020: $7,396,929Expenses 2020: $7,940,239Net Income 2020: -$543,3102020Revenue 2021: $8,970,460Expenses 2021: $7,546,265Net Income 2021: $1,424,1952021Revenue 2022: $7,823,981Expenses 2022: $8,670,474Net Income 2022: -$846,4932022Revenue 2023: $9,999,332Expenses 2023: $8,821,482Net Income 2023: $1,177,8502023Revenue 2024: $6,950,089Expenses 2024: $8,274,870Net Income 2024: -$1,324,7812024Revenue 2025: $9,855,236Expenses 2025: $9,662,626Net Income 2025: $192,6102025

Highlighted filing

2021

Revenue$8,970,460
Expenses$7,546,265
Net Income$1,424,195
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 15, 2022
Return Version
2020v4.2
Gross Receipts
$8,970,460
Mission and Program Overview

Mission

MMSA fosters an environment of inquiry and a love of learning so students are prepared to thrive in STEM-focused high school, college, and the world

The mission of the Minnesota Math and Science Academy (MMSA) is to prepare our students for college by creating an effective learning environment of higher standards and expectations with a rigorous college preparatory curriculum that focuses on mathematics, science, and technology.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,029,959$1,407,331▲ $377,372
Accounts Receivable$955,351$1,128,490▲ $173,139
Land, Buildings, and Equipment, Net$360,212$722,617▲ $362,405
Pd in Cap Srpls Land Bldg Eqp Fund$360,212$722,617▲ $362,405
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$-2,874,368$-1,812,578▲ $1,061,790
Total Assets$5,658,171$5,552,242▼ $105,929
Other Assets Total$3,312,649$2,293,804▼ $1,018,845
Liabilities
Other Liabilities$7,033,022$5,796,694▼ $1,236,328
Accounts Payable and Accrued Expenses$882,805$589,009▼ $293,796
Mortgage Notes Payable Secured by Investment Property$256,500$256,500→ $0
Total Liabilities$8,172,327$6,642,203▼ $1,530,124
Net Assets / Fund Balance
Total Net Assets Fund Balance$-2,514,156$-1,089,961▲ $1,424,195
Total Liabilities and Net Assets / Fund Balance$5,658,171$5,552,242▼ $105,929

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$324,759$712,003$1,036,762
Leasehold Improvements$397,858$81,539$479,397
Other Assets Org$2,293,804--
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,453,621
Program Service Revenue
$7,516,745
Investment Income
$94
Other Revenue
$0
All Other Contributions
$68,177
Change in Net Assets
$1,424,195
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,047,741
Other Expenses$3,490,682
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,080,239$301,520-$3,381,759
Occupancy$1,100,400$10,311-$1,110,711
Fees for Services Management$685,681--$685,681
Office Expenses$327,196$29,511-$356,707
Fees for Services Other$230,922$42,437-$273,359
Pension Plan Contributions$211,564$26,620-$238,184
Other Employee Benefits$184,995$35,299-$220,294
Payroll Taxes$184,618$22,886-$207,504
Depreciation Depletion$147,962$2,931-$150,893
Information Technology$40,950$14,610-$55,560
Payments to Affiliates$23,193$27,268-$50,461
Fees for Services Legal-$21,612-$21,612
Advertising-$18,563-$18,563
Conferences and Meetings$9,497$8,209-$17,706
Insurance-$16,104-$16,104
Other Expenses$13,368$19,078-$13,368
All Other Expenses-$9,619-$9,619
Benefits to Members$7,842--$7,842
Total Functional Expenses$6,939,687$606,578$0$7,546,265
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Pension Liability$3,456,393
Pension plan deferments$2,340,301
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Once the 990 is completed by an independent CPA, a copy will be provided to the Director of the Academy and the Board via email for review before filing.

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

Annually, Directors are required to sign a Conflict of Interest statement

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

Executive Director will be evaluated each year by the Board. Staff/parent surveys are taken each year at year-end. Compensation for all employees including the Director are recommended to the Board via the Budget which is then approved by the Board. The Board then approves all employement agreements/contracts.

Form 990, Part VI, Section C, line 19

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

Form 990, Part VI, Section A Line 1B

Several members of the Board are teachers at the school. Minnesota State Statute 124D.10 subd.4(g) requires the Board to have at least one member that is an employed/contracted teacher.

Filing and Contact Details

Filer

Filer Name
Minnesota Math and Science Academy
EIN
46-4684051
Phone
6512460845
Address
169 Jenks Avenue, St Paul, MN 55117

Signing Officer

Name
Jousef Camizci
Title
Executive Director
Phone
6512460845
Signed
2022-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jousef Camizci
Formed
2013
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
5
Employees
91
Volunteers
0

Preparer

Firm
Malloy Montague Karnowski Radosevich
Address
5353 Wayzata Blvd Ste 410, Minneapolis, MN 55416
Preparer
Victoria L Holinka
Phone
9525450424
Supplemental Narrative

Additional Explanations

Part XII, Line 2C

The School Board assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant annually. This process has not changed.

Authorizer

The Academy is required to have an Authorizer to monitor its operations in order to maintain its charter. The Academy's approved authorizer during the fiscal year 2021 was Pillsbury United Communities.

Related Organization Compensation

Made an effort to obtain information on compensation, if any, was paid from a related organization. No response received and no other transactions noted.

Financial Statement Notes

Part X, Line 2:

The Academy is exempt from federal and state income taxes under Internal Revenue Code Section 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 Accounting Standards Codification 740-10. 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 it operates. 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 its financial condition, results of operation 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, 2021.

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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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IRS990/PYOtherRevenueAmt00
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IRS990/PYRevenuesLessExpensesAmt0-543310
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IRS990/PYTotalExpensesAmt07940239
IRS990/PYTotalProfFndrsngExpnsAmt00
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12340301
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Net Pension Liability
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Pension plan deferments
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Academy is exempt from federal and state income taxes under Internal Revenue Code Section 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 Accounting Standards Codification 740-10. 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 it operates. 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 its financial condition, results of operation 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, 2021.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt02293804
IRS990ScheduleD/TotalLiabilityAmt05796694
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
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IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The school's enrollment and lottery policy is available on its website.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1The Academy received state and federal aid payments and grants to finance the operational activities of the Academy.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Part I, Line 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Once the 990 is completed by an independent CPA, a copy will be provided to the Director of the Academy and the Board via email for review before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Annually, Directors are required to sign a Conflict of Interest statement
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Executive Director will be evaluated each year by the Board. Staff/parent surveys are taken each year at year-end. Compensation for all employees including the Director are recommended to the Board via the Budget which is then approved by the Board. The Board then approves all employement agreements/contracts.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organization makes it governing documents, conflict of interest policy, and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The School Board assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant annually. This process has not changed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The Academy is required to have an Authorizer to monitor its operations in order to maintain its charter. The Academy's approved authorizer during the fiscal year 2021 was Pillsbury United Communities.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Several members of the Board are teachers at the school. Minnesota State Statute 124D.10 subd.4(g) requires the Board to have at least one member that is an employed/contracted teacher.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Made an effort to obtain information on compensation, if any, was paid from a related organization. No response received and no other transactions noted.
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 B, line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Part XII, Line 2c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5AUTHORIZER
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Section A Line 1B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Related Organization Compensation
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IRS990/USAddress/AddressLine1Txt0169 Jenks Avenue
IRS990/USAddress/CityNm0St Paul
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055117
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.mmsaweb.org
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Jousef Camizci
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum06512460845
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Minnesota Math and Science Academy
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ReturnHeader/Filer/USAddress/AddressLine1Txt0169 Jenks Avenue
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411690382
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Malloy Montague Karnowski Radosevich
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05353 Wayzata Blvd Ste 410
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Minneapolis
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055416
ReturnHeader/PreparerPersonGrp/PhoneNum09525450424
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Victoria L Holinka

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