Civic Intelligence

Spartan Innovation Building Corporation

EIN 47-4004934 • 501(c)3 • Brooklyn Park, MN

Profile

To support Athlos Leadership Academy by providing rental facilities for the property that will be used by the school.

10100 Noble PkyBrooklyn Park, MN 55443

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

94th percentile

1.01x

Higher debt load relative to assets than 94% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Liabilities / Revenue

97th percentile

11.34x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Net Margin

68th percentile

14%

Higher net margin than 68% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Top Officer Pay

72nd percentile

$267,026

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 13.1% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Asset Growth

30th percentile

-1.0%

Faster asset growth than 30% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Revenue Growth

32nd percentile

-0.6%

Faster revenue growth than 32% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Assets

Down

$23,842,390

Down $366,075 (-1.5%) from 2021

Liabilities

Down

$24,732,972

Down $456,152 (-1.8%) from 2021

Net Assets

Up

-$890,582

Up $90,077 (+9.2%) from 2021

Revenue

Down

$1,913,435

Down $1,888 (-0.1%) from 2021

Expenses

Down

$1,823,358

Down $10,125 (-0.6%) from 2021

Net Income

Up

$90,077

Up $8,237 (+10%) from 2021

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0-$10MAssets 2015: $0Net Assets 2015: $02015Assets 2016: $25,688,520Liabilities 2016: $26,886,551Net Assets 2016: -$1,198,0312016Assets 2017: $25,558,687Liabilities 2017: $26,783,732Net Assets 2017: -$1,225,0452017Assets 2018: $25,365,848Liabilities 2018: $26,568,893Net Assets 2018: -$1,203,0452018Assets 2019: $25,056,135Liabilities 2019: $26,211,625Net Assets 2019: -$1,155,4902019Assets 2020: $24,585,458Liabilities 2020: $25,647,957Net Assets 2020: -$1,062,4992020Assets 2021: $24,208,465Liabilities 2021: $25,189,124Net Assets 2021: -$980,6592021Assets 2022: $23,842,390Liabilities 2022: $24,732,972Net Assets 2022: -$890,5822022

Highlighted filing

2022

Assets$23,842,390
Liabilities$24,732,972
Net Assets-$890,582

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2015: $02015Revenue 2016: $731,943Expenses 2016: $1,929,974Net Income 2016: -$1,198,0312016Revenue 2017: $1,744,523Expenses 2017: $1,771,537Net Income 2017: -$27,0142017Revenue 2018: $1,958,213Expenses 2018: $1,936,213Net Income 2018: $22,0002018Revenue 2019: $1,948,095Expenses 2019: $1,900,540Net Income 2019: $47,5552019Revenue 2020: $1,942,676Expenses 2020: $1,849,685Net Income 2020: $92,9912020Revenue 2021: $1,915,323Expenses 2021: $1,833,483Net Income 2021: $81,8402021Revenue 2022: $1,913,435Expenses 2022: $1,823,358Net Income 2022: $90,0772022

Highlighted filing

2022

Revenue$1,913,435
Expenses$1,823,358
Net Income$90,077

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Apr 4, 2023
Return Version
2021v4.2
Gross Receipts
$1,913,435
Mission and Program Overview

Mission

To support athlos leadership academy by providing rental facilities for the property that is used by the school.

To provide rental facilities for property that is used for a schoolhouse.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$20,864,098$20,402,752▼ $461,346
Savings and Temporary Cash Investments$3,344,367$3,439,638▲ $95,271
Cap Stk Tr Prin Current Funds$2,675,248$1,510,765▼ $1,164,483
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$-3,655,907$-2,401,347▲ $1,254,560
Total Assets$24,208,465$23,842,390▼ $366,075
Liabilities
Tax Exempt Bond Liabilities$24,520,005$24,051,072▼ $468,933
Accounts Payable and Accrued Expenses-$658,075-
Other Liabilities$669,119$23,825▼ $645,294
Total Liabilities$25,189,124$24,732,972▼ $456,152
Net Assets / Fund Balance
Total Net Assets Fund Balance$-980,659$-890,582▲ $90,077
Total Liabilities and Net Assets / Fund Balance$24,208,465$23,842,390▼ $366,075

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$19,970,652$3,027,700$22,998,352
Land$432,100-$432,100
Compensation and Service Providers

Board Members and Trustees

NameTitle
Ann DegrootBoard President
Jennifer GeraghtyBoard Secretary/treasurer
Steve BurschMember
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,912,840
Investment Income
$595
Other Revenue
$0
Change in Net Assets
$90,077

Audited Revenue Reconciliation

Revenue per Audited Statements
$595
Revenue Not Reported on Financial Statements
$1,912,840
Revenue Not Reported on Form 990
$14,357,998
Other Revenue Adjustments
$1,912,840
Total Revenue per Audited Statements
$14,358,593
Total Revenue per Form 990
$1,913,435
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,823,358
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$1,312,217--$1,312,217
Depreciation Depletion$461,347--$461,347
Fees for Services Accounting-$39,620-$39,620
Other Expenses$7,150--$7,150
Fees for Services Other-$3,024-$3,024
Total Functional Expenses$1,780,714$42,644$0$1,823,358

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$13,159,275
Expenses Not Reported on Form 990$11,335,917
Expenses per Audited Statements$1,823,358
Total Expenses per Form 990$1,823,358
Expenses Not Reported on Financial Statements$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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Academy$23,825

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of Brooklyn Park Mn2015-12-29$25,686,928PURCHASE OF BUILDING

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$25,686,928$110,000-$509,197

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
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 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
No
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 A, Line 6

The sole member of the organization is athlos leadership academy.

Form 990, Part VI, Section A, Line 7A

Members of the board of directors shall be appointed by the board of directors of the sole member, athlos leadership academy.

Form 990, Part VI, Section A, Line 8B

There are no committees with authority to act on behalf of the governing board.

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

The form 990 is prepared by the academy's accountant and the full form is reviewed by the academy principal. The public disclosure version of the form 990 is then presented to the board of directors for review and approval prior to filing.

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

All board meetings required discosure of conflicts. No conflicts were disclosed.

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
Spartan Innovation Building Corporation
EIN
47-4004934
Phone
7637778942
Address
10100 NOBLE PKY, BROOKLYN PARK, MN 55443

Signing Officer

Name
Jennifer Geraghty
Title
Principal
Phone
7637778942
Signed
2023-04-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ann Degroot
Formed
2015
Legal Domicile
Mn
Voting Board Members
3
Independent Board Members
2
Employees
0
Volunteers
3

Preparer

Firm
Bergankdv Ltd
Address
12100 MEREDITH DR SUITE 200, URBANDALE, IA 50323
Preparer
Kathleen New CPA
Phone
5157275700
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

The board is responisble for selection of an independent accountant and for the oversight of the financial statement audit. This process has not changed from prior year.

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Athlos leadership academy revenues 14,353,758. Pensions 4,240.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

RENT 1,912,840.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Athlos leadership academy expenses less rent 11,487,698. Pensions -151,781.

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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JENNIFER GERAGHTY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0BOARD SECRETARY/TREASURER
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0233481
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DOES NOT COMPENSATE ITS OFFICERS AND DIRECTORS.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd01
IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0ISSUER NAME: CITY OF BROOKLYN PARK, MN DATE THE REBATE COMPUTATION WAS PERFORMED: 02/05/2022
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0DATE REBATE COMPUTATION PERFORMED
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IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd01
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02015-12-29
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0416008804
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd00
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0CITY OF BROOKLYN PARK MN
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0PURCHASE OF BUILDING
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IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd00
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IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd00
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd01
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd00
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IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SOLE MEMBER OF THE ORGANIZATION IS ATHLOS LEADERSHIP ACADEMY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS OF THE BOARD OF DIRECTORS SHALL BE APPOINTED BY THE BOARD OF DIRECTORS OF THE SOLE MEMBER, ATHLOS LEADERSHIP ACADEMY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS PREPARED BY THE ACADEMY'S ACCOUNTANT AND THE FULL FORM IS REVIEWED BY THE ACADEMY PRINCIPAL. THE PUBLIC DISCLOSURE VERSION OF THE FORM 990 IS THEN PRESENTED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL BOARD MEETINGS REQUIRED DISCOSURE OF CONFLICTS. NO CONFLICTS WERE DISCLOSED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE BOARD IS RESPONISBLE FOR SELECTION OF AN INDEPENDENT ACCOUNTANT AND FOR THE OVERSIGHT OF THE FINANCIAL STATEMENT AUDIT. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C
IRS990ScheduleR/AssetExchangeInd00
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IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0ATHLOS LEADERSHIP ACADEMY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0411822009
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt010100 NOBLE PARKWAY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0BROOKLYN PARK
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IRS990ScheduleR/PaidEmployeesSharingInd01
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IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
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IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt024520005
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt024051072
IRS990/TaxExemptBondsInd01
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt024208465
IRS990/TotalAssetsEOYAmt023842390
IRS990/TotalAssetsGrp/BOYAmt024208465
IRS990/TotalAssetsGrp/EOYAmt023842390
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt042644
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01780714
IRS990/TotalFunctionalExpensesGrp/TotalAmt01823358
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt025189124
IRS990/TotalLiabilitiesEOYAmt024732972
IRS990/TotalLiabilitiesGrp/BOYAmt025189124
IRS990/TotalLiabilitiesGrp/EOYAmt024732972
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-980659

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