Civic Intelligence

Minnesota Math and Science Academy

990 • Fiscal year 2022 • EIN 46-4684051

Jul 01, 2021 to Jun 30, 2022 • Filed on Feb 20, 2024

Organization Profilewww.mmsaweb.org
169 Jenks AvenueSaint Paul, MN 55117

(651) 246-0845

Siviq Scores

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

Liabilities / Assets

98th percentile

1.48x

Higher debt load relative to assets than 98% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

82nd percentile

0.87x

Higher debt load relative to revenue than 82% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

18th percentile

-11%

Higher net margin than 18% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

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.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

8th percentile

-17%

Faster asset growth than 8% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

24th percentile

-13%

Faster revenue growth than 24% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$4,599,912

Down $952,330 (-17%) from 2021

Net Assets

Down

-$2,229,645

Down $1,139,684 (-105%) from 2021

Liabilities

Up

$6,829,557

Up $187,354 (+2.8%) from 2021

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin18th percentile

Revenue

Down

$7,823,981

Down $1,146,479 (-13%) from 2021

Expenses

Up

$8,670,474

Up $1,124,209 (+15%) from 2021

Net Income

Down

-$846,493

Down $2,270,688 (-159%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth8th percentile

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

2022

Assets$4,599,912
Liabilities$6,829,557
Net Assets-$2,229,645
Open 2022 Filing

Operations Trend

Revenue Growth24th percentile

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

2022

Revenue$7,823,981
Expenses$8,670,474
Net Income-$846,493
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Feb 20, 2024
Return Version
2021v4.2
Gross Receipts
$7,823,981
Mission and Program Overview

Mission

The mission of the minnesota math and science academy (mmsa) is to prepare our students forcollege by creating an effective learning environment of higher standards and expectationswith a rigorous college preparatory curriculum that focuses on mathematics, science, andtechnology.

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 c

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,407,331$1,473,999▲ $66,668
Accounts Receivable$1,128,490$738,311▼ $390,179
Land, Buildings, and Equipment, Net$722,617$338,329▼ $384,288
Pd in Cap Srpls Land Bldg Eqp Fund$722,617$13,240▼ $709,377
Cap Stk Tr Prin Current Funds$-1,812,578$-2,242,885▼ $430,307
Total Assets$5,552,242$4,599,912▼ $952,330
Other Assets Total$2,293,804$2,049,273▼ $244,531
Liabilities
Other Liabilities$5,796,694$5,919,487▲ $122,793
Accounts Payable and Accrued Expenses$589,009$706,594▲ $117,585
Mortgage Notes Payable Secured by Investment Property$256,500--
Deferred Revenue-$203,476-
Total Liabilities$6,642,203$6,829,557▲ $187,354
Net Assets / Fund Balance
Total Net Assets Fund Balance$-1,089,961$-2,229,645▼ $1,139,684
Total Liabilities and Net Assets / Fund Balance$5,552,242$4,599,912▼ $952,330

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$270,255$839,365$1,109,620
Leasehold Improvements$68,074$85,291$153,365
Other Assets Org$2,049,273--
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Jessica CosgrovePresident
Jousef CamizciExecutive Director
Leslie AktanMember
Mustafa IgdeliogluMember
Safiyo AliMember
Serhat GezerMember
Revenue and Support

Revenue Composition

Contributions and Grants
$7,823,879
Program Service Revenue
$0
Investment Income
$102
Other Revenue
$0
All Other Contributions
$22,798
Change in Net Assets
$-846,493
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,981,489
Other Expenses$3,688,985
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,398,454$377,606-$3,776,060
Other Employee Benefits$1,084,886$120,543-$1,205,429
Occupancy$825,427$91,714-$917,141
Insurance$732,428$81,381-$813,809
Office Expenses$256,900$28,544-$285,444
Other Expenses$229,808$1,968-$229,808
Conferences and Meetings$9,363$1,040-$10,403
Total Functional Expenses$7,826,408$844,066$0$8,670,474
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$3,684,396
Federal income taxes$2,235,091
Pension Plan Deferments-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
No
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
No
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.”

Filing and Contact Details

Filer

Filer Name
Minnesota Math and Science Academy
EIN
46-4684051
Phone
6512460845
Address
169 JENKS AVENUE, SAINT PAUL, MN 55117

Signing Officer

Name
Stephen West
Title
Superintendent
Phone
6512460845
Signed
2024-02-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen West
Formed
2013
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
5
Employees
144

Preparer

Firm
Thomas & Company CPA Pa
Address
9710 STIRLING RD STE 101, COOPER CITY, FL 33024
Preparer
Roby Thomas CPA
Phone
9544357272
Supplemental Narrative

Additional Explanations

Form 990, 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.”

Raw XML Appendix381 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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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE ACADEMY RECEIVED STATE AND FEDERAL AID PAYMENTS AND GRANTS TO FINANCE THE OPERATIONAL ACTIVITIES OF THE ACADEMY
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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/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/FormAndLineReferenceDesc4Form 990, Part XII, Line 2C
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0STEPHEN WEST
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ReturnHeader/BusinessOfficerGrp/SignatureDt02024-02-20
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0THOMAS & COMPANY CPA PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09710 STIRLING RD STE 101
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0COOPER CITY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033024
ReturnHeader/PreparerPersonGrp/PhoneNum09544357272
ReturnHeader/PreparerPersonGrp/PreparationDt02024-02-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBY THOMAS CPA
ReturnHeader/ReturnTs02024-02-28T03:01:20-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0STEPHEN
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ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,599,912
Liabilities
$6,829,557
Net assets
-$2,229,645
Revenue
$7,823,981
Expenses
$8,670,474
Net income
-$846,493
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.51$5.70$2.18$9.86$9.66$0.19
2024Detailed filing. Detailed filing data is available for this year.$3.14$5.52$2.38$6.95$8.27$1.32
2023Detailed filing. Detailed filing data is available for this year.$5.59$6.64$1.05$10.00$8.82$1.18
2022Detailed filing. Detailed filing data is available for this year.$4.60$6.83$2.23$7.82$8.67$0.85
2021Detailed filing. Detailed filing data is available for this year.$5.55$6.64$1.09$8.97$7.55$1.42
2020Detailed filing. Detailed filing data is available for this year.$5.66$8.17$2.51$7.40$7.94$0.54
2019Detailed filing. Detailed filing data is available for this year.$6.01$7.98$1.97$6.88$6.20$0.67
2018Detailed filing. Detailed filing data is available for this year.$6.44$9.09$2.65$6.99$8.47$1.47
2017Detailed filing. Detailed filing data is available for this year.$6.73$7.90$1.17$6.44$7.50$1.06
2016Detailed filing. Detailed filing data is available for this year.$1.80$1.91$0.12$5.19$5.19$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.70$0.81$0.12$3.46$3.58$0.12