Civic Intelligence

Davinci Academy Abc

990 • Fiscal year 2023 • EIN 47-4954005

Jul 01, 2022 to Jun 30, 2023 • Filed on May 09, 2024

Organization Profiledavincicharterschool.org/our-school/davin
532 Bunker Lake Blvd NEHam Lake, MN 55304

(763) 754-6577

Siviq Scores

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

Liabilities / Assets

96th percentile

1.11x

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

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

97th percentile

13.74x

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

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

60th percentile

8.2%

Higher net margin than 60% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

24th percentile

-1.6%

Faster asset growth than 24% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

48th percentile

4.4%

Faster revenue growth than 48% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$22,707,238

Down $375,184 (-1.6%) from 2022

Net Assets

Up

-$2,603,840

Up $150,795 (+5.5%) from 2022

Liabilities

Down

$25,311,078

Down $525,979 (-2.0%) from 2022

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin60th percentile

Revenue

Up

$1,842,667

Up $77,603 (+4.4%) from 2022

Expenses

Down

$1,691,872

Down $17,155 (-1.0%) from 2022

Net Income

Up

$150,795

Up $94,758 (+169%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth24th percentile

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

$30M$20M$10M$0-$10MAssets 2017: $27,236,309Liabilities 2017: $29,414,370Net Assets 2017: -$2,178,0612017Assets 2018: $25,458,564Liabilities 2018: $27,642,682Net Assets 2018: -$2,184,1182018Assets 2019: $24,240,250Liabilities 2019: $26,685,082Net Assets 2019: -$2,444,8322019Assets 2020: $23,822,885Liabilities 2020: $26,521,870Net Assets 2020: -$2,698,9852020Assets 2021: $23,437,776Liabilities 2021: $26,244,994Net Assets 2021: -$2,807,2182021Assets 2022: $23,082,422Liabilities 2022: $25,837,057Net Assets 2022: -$2,754,6352022Assets 2023: $22,707,238Liabilities 2023: $25,311,078Net Assets 2023: -$2,603,8402023Assets 2024: $22,382,457Liabilities 2024: $24,293,856Net Assets 2024: -$1,911,3992024

Highlighted filing

2023

Assets$22,707,238
Liabilities$25,311,078
Net Assets-$2,603,840
Open 2023 Filing

Operations Trend

Revenue Growth48th percentile

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

$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2017: $8,561Expenses 2017: $1,243,253Net Income 2017: -$1,234,6922017Revenue 2018: $1,234,019Expenses 2018: $1,240,076Net Income 2018: -$6,0572018Revenue 2019: $1,467,073Expenses 2019: $1,727,787Net Income 2019: -$260,7142019Revenue 2020: $1,560,926Expenses 2020: $1,724,941Net Income 2020: -$164,0152020Revenue 2021: $1,643,410Expenses 2021: $1,751,643Net Income 2021: -$108,2332021Revenue 2022: $1,765,064Expenses 2022: $1,709,027Net Income 2022: $56,0372022Revenue 2023: $1,842,667Expenses 2023: $1,691,872Net Income 2023: $150,7952023Revenue 2024: $1,898,475Expenses 2024: $1,703,253Net Income 2024: $195,2222024

Highlighted filing

2023

Revenue$1,842,667
Expenses$1,691,872
Net Income$150,795
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 9, 2024
Return Version
2022v5.0
Gross Receipts
$1,842,667
Mission and Program Overview

Mission

The mission of the davinci academy abc is to support davinci academy of arts and science by providing rental facilities for the property that will be used by the school.

To support DaVinci Academy of Arts and Science by providing rental facitilies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$19,932,641$19,441,457▼ $491,184
Savings and Temporary Cash Investments$3,149,781$3,265,781▲ $116,000
Cap Stk Tr Prin Current Funds$3,149,781$3,265,781▲ $116,000
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$-5,904,416$-5,869,621▲ $34,795
Total Assets$23,082,422$22,707,238▼ $375,184
Liabilities
Tax Exempt Bond Liabilities$25,227,306$24,713,702▼ $513,604
Other Liabilities$609,751$597,376▼ $12,375
Total Liabilities$25,837,057$25,311,078▼ $525,979
Net Assets / Fund Balance
Total Net Assets Fund Balance$-2,754,635$-2,603,840▲ $150,795
Total Liabilities and Net Assets / Fund Balance$23,082,422$22,707,238▼ $375,184

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$16,406,164$1,822,905$18,229,069
Leasehold Improvements$1,899,047$633,015$2,532,062
Land$1,136,246-$1,136,246
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Dale LiebChair
Terry MoffattClerk
Ross MeisnerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,764,753
Investment Income
$77,914
Other Revenue
$0
Change in Net Assets
$150,795
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,691,872
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$1,176,146--$1,176,146
Depreciation Depletion$491,184--$491,184
Fees for Services Other$24,542--$24,542
Total Functional Expenses$1,691,872$0$0$1,691,872
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
Accrued interest$597,376

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of Ham Lake2016-05-25$23,461,347-

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$23,461,347--$455,369

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
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
Audit committee
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
No
Audited financial statements prepared
No
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 DaVinci Academy of Arts and Science.”

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

“The sole member has the power to remove or appoint directors of the organization.”

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

“The Form 990 is prepared by an independent accounting firm. Once the form is completed it is given to management and the board treasurer for review before it is signed and filed. All members are not provided a complete Form 990.”

Form 990, Part VI, Section C, line 19

“DaVinci Academy of Arts and Science and DaVinci Academy ABC make its governing documents, conflict of interest policy, and financial statements available to the public on their website and upon request.”

Filing and Contact Details

Filer

Filer Name
DaVinci Academy ABC
EIN
47-4954005
Phone
7637546577
Address
532 Bunker Lake Blvd NE, Ham Lake, MN 55304

Signing Officer

Name
Jack Shields
Title
Interim Executive Director
Phone
7637546577
Signed
2024-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jack Shields
Formed
2015
Legal Domicile
Mn
Voting Board Members
3
Independent Board Members
3
Employees
0
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

FORM 990, PART XII, LINE 2C:

“The related School Board reviews and approves the audit and the selection of the independent auditor annually. This process has not changed from the prior year.”

Related Organization Compensation

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

Financial Statement Notes

Part X, Line 2:

“The Academy and the Building Company are exempt from income taxes under IRC 501(c)(3). Both are subject to a tax on income from any unrelated business. The Academy and the Building Company are 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 and the Building Company have analyzed tax positions taken for filing with the IRS and state jurisdiction where they operate, and believe that income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on their respective financial condition, results of operations, or cash flows. Accordingly, the Academy and the Building Company have not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at year-end. The Academy and the Building Company are subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any open tax periods.”

Raw XML AppendixShowing 400 of 402 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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IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd00
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IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The sole member of the organization is DaVinci Academy of Arts and Science.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The sole member has the power to remove or appoint directors of the organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Form 990 is prepared by an independent accounting firm. Once the form is completed it is given to management and the board treasurer for review before it is signed and filed. All members are not provided a complete Form 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DaVinci Academy of Arts and Science and DaVinci Academy ABC make its governing documents, conflict of interest policy, and financial statements available to the public on their website and upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The related School Board reviews and approves the audit and the selection of the independent auditor annually. This process has not changed from the prior year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Made an effort to obtain information on compensation, if any, was paid from a related organization. No response received and no transactions noted.
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 B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5RELATED ORGANIZATION COMPENSATION
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0743234914
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt013001 Central Avenue Northeast
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IRS990ScheduleR/PaidEmployeesSharingInd01
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IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt01764753
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Lease Agreement
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0DaVinci Academy of Arts & Science
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0K
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
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IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt024713702
IRS990/TaxExemptBondsInd01
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt023082422
IRS990/TotalAssetsEOYAmt022707238
IRS990/TotalAssetsGrp/BOYAmt023082422
IRS990/TotalAssetsGrp/EOYAmt022707238
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IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt01691872
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IRS990/TotalLiabilitiesGrp/EOYAmt025311078
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-2754635
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-2603840
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IRS990/TotalProgramServiceExpensesAmt01691872
IRS990/TotalProgramServiceRevenueAmt01764753
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IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01842667
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01842667
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
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IRS990/USAddress/AddressLine1Txt0532 Bunker Lake Blvd NE
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IRS990/USAddress/ZIPCd055304
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0https://davincicharterschool.org/our-school/davin
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Jack Shields
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Interim Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum07637546577
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DaVinci Academy ABC
ReturnHeader/Filer/BusinessNameControlTxt0DAVI
ReturnHeader/Filer/EIN0474954005
ReturnHeader/Filer/PhoneNum07637546577
ReturnHeader/Filer/USAddress/AddressLine1Txt0532 Bunker Lake Blvd NE
ReturnHeader/Filer/USAddress/CityNm0Ham Lake
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055304
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
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/PreparationDt02024-05-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Victoria L Holinka
ReturnHeader/ReturnTs02024-05-14T15:25:20-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Jack
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Shields
ReturnHeader/TaxPeriodBeginDt02022-07-01

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$22,707,238
Liabilities
$25,311,078
Net assets
-$2,603,840
Revenue
$1,842,667
Expenses
$1,691,872
Net income
$150,795
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.4$24.3$1.91$1.90$1.70$0.20
2023Detailed filing. Detailed filing data is available for this year.$22.7$25.3$2.60$1.84$1.69$0.15
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$23.1$25.8$2.75$1.77$1.71$0.06
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.4$26.2$2.81$1.64$1.75$0.11
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$23.8$26.5$2.70$1.56$1.72$0.16
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.2$26.7$2.44$1.47$1.73$0.26
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.5$27.6$2.18$1.23$1.24$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.2$29.4$2.18$0.01$1.24$1.23