Liabilities / Assets
96th percentile
Higher debt load relative to assets than 96% of similar nonprofits.
Venture Academies
990 • Fiscal year 2018 • EIN 61-1677994
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
1.30x
Liabilities / Revenue
86th percentile
Higher debt load relative to revenue than 86% of similar nonprofits.
Net Margin
10th percentile
Higher net margin than 10% of similar nonprofits.
Top Officer Pay
44th percentile
Higher top officer pay than 44% of similar nonprofits.
Top officer pay equals 1.9% of source-year revenue.
Asset Growth
73rd percentile
Faster asset growth than 73% of similar nonprofits.
Revenue Growth
61st percentile
Faster revenue growth than 61% of similar nonprofits.
Balance Sheet
Assets
Up$6,338,081
Up $571,774 (+9.9%) from 2017
Net Assets
Down-$1,915,191
Down $1,409,912 (-279%) from 2017
Liabilities
Up$8,253,272
Up $1,981,686 (+32%) from 2017
Revenue And Expenses
Revenue
Up$5,620,676
Up $424,942 (+8.2%) from 2017
Expenses
Up$7,030,588
Up $1,111,312 (+19%) from 2017
Net Income
Down-$1,409,912
Down $686,370 (-95%) from 2017
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2017 to Jun 30, 2018
- Signed
- Apr 22, 2019
- Return Version
- 2017v2.3
- Gross Receipts
- $5,620,676
Mission and Program Overview
Mission
Our missionventure academy graduates overcome whatever barriers they may face to become successful and happy adults in their chosen path. We are committed to removing obstacles, building strong relationships, and ensuring every student has the support they need to thrive during and beyond high school.our visionwe meet students where they are to provide a future-focused education that gives each student a personalized pathway toward success after graduation. Through individualized learning, strong community partnerships, and a commitment to safety and dignity, venture academy prepares students for college, career, and life.
The mission of venture academy is to build entrepreneurial leaders by developing the independence, scholarship and leadership of young people.the vision of venture academy is for every young person to become an entrepreneurial leader who improves the world around them.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Pledges and Grants Receivable | $753,357 | $422,206 | ▼ $331,151 |
| Land, Buildings, and Equipment, Net | $453,417 | $418,925 | ▼ $34,492 |
| Cash and Non-Interest-Bearing Accounts | $218,139 | $349,774 | ▲ $131,635 |
| Cap Stk Tr Prin Current Funds | $112,122 | $153,515 | ▲ $41,393 |
| Prepaid Expenses and Deferred Charges | $78,438 | $149,310 | ▲ $70,872 |
| Accounts Receivable | $1,200 | $3,114 | ▲ $1,914 |
| Rtn Earn Endowment Incm Other Fnds | $0 | $0 | → $0 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $-617,401 | $-2,068,706 | ▼ $1,451,305 |
| Total Assets | $5,766,307 | $6,338,081 | ▲ $571,774 |
| Other Assets Total | $4,261,756 | $4,994,752 | ▲ $732,996 |
| Liabilities | |||
| Other Liabilities | $5,565,041 | $7,648,603 | ▲ $2,083,562 |
| Accounts Payable and Accrued Expenses | $240,250 | $339,179 | ▲ $98,929 |
| Mortgage Notes Payable Secured by Investment Property | $466,295 | $265,490 | ▼ $200,805 |
| Total Liabilities | $6,271,586 | $8,253,272 | ▲ $1,981,686 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $-505,279 | $-1,915,191 | ▼ $1,409,912 |
| Total Liabilities and Net Assets / Fund Balance | $5,766,307 | $6,338,081 | ▲ $571,774 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Leasehold Improvements | $343,444 | $84,324 | $427,768 |
| Equipment | $75,481 | $71,584 | $147,065 |
| Other Assets Org | $4,994,752 | - | - |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Jon Bacal | Executive Director | FT | $97,872 | $10,369 | $108,241 |
| Andrew Lawton | Director | - | $63,327 | $4,928 | $68,255 |
| Charles Ellworth | Director | - | $55,375 | $6,191 | $61,566 |
| Jace Carlson | Director | - | $43,604 | $3,716 | $47,320 |
Board Members and Trustees
| Name | Title |
|---|---|
| Brian Peterson | Chairperson |
| Beth Hawkins | Director |
| Jason Davis | Director |
| Jeff Robbins | Director |
| Rajiv Tandon | Director |
| Troy Strand | Director |
| Betsy Ohrn | Secretary |
| Brad Pogalz | Treasurer |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Nhh Realties | Rent | 317 2ND AVE S STE 800, Minneapolis, MN 55401 | $501,947 |
| Monarch Bus Service INC | Transportation | 101 EAST 10TH STREET STE 300, Hastings, MN 55033 | $477,776 |
| New Horizon Foods | Food Service | 211 2ND ST NW, St Michael, MN 55376 | $200,976 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $5,532,639
- Program Service Revenue
- $88,037
- Investment Income
- $0
- Other Revenue
- $0
- Change in Net Assets
- $-1,409,912
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $5,620,676
- Revenue Not Reported on Financial Statements
- $0
- Revenue Not Reported on Form 990
- $0
- Total Revenue per Audited Statements
- $5,620,676
- Total Revenue per Form 990
- $5,620,676
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $4,705,355 |
| Other Expenses | $2,325,233 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | $2,055,337 | $344,840 | - | $2,400,177 |
| Pension Plan Contributions | $1,314,758 | $199,529 | - | $1,514,287 |
| Fees for Services Other | $889,888 | $128,403 | - | $1,018,291 |
| Occupancy | $547,236 | $82,686 | - | $629,922 |
| Current Officers, Directors, Trustees, and Key Employees | $299,515 | - | - | $299,515 |
| Other Employee Benefits | $228,370 | $57,304 | - | $285,674 |
| Payroll Taxes | $177,324 | $28,378 | - | $205,702 |
| Depreciation Depletion | $49,627 | $12,417 | - | $62,044 |
| Other Expenses | $8,650 | $30,077 | - | $38,727 |
| Information Technology | $8,296 | $26,828 | - | $35,124 |
| Conferences and Meetings | $18,641 | $9,867 | - | $28,508 |
| Interest | $22,791 | - | - | $22,791 |
| Travel | $19,993 | $314 | - | $20,307 |
| All Other Expenses | $14,893 | - | - | $14,893 |
| Insurance | $7,900 | $4,432 | - | $12,332 |
| Office Expenses | $120 | $589 | - | $709 |
| Total Functional Expenses | $6,013,449 | $1,017,139 | $0 | $7,030,588 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Expenses per Audited Statements | $7,030,588 |
| Total Expenses per Audited Statements | $7,030,588 |
| Total Expenses per Form 990 | $7,030,588 |
| Expenses Not Reported on Financial Statements | $0 |
| Expenses Not Reported on Form 990 | $0 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| 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
| Liability | Amount |
|---|---|
| Net Pension Liability | $6,501,400 |
| Deferred Inflows of Resources - Pension | $1,147,203 |
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
- Yes
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Section A, Line 1
“The executive committee shall at times be subject to the direction and control of the board, and any actions taken by the executive committee shall be reported to the full board at the next board meeting. The four officers serve as the members of the executive committee. Except for the power to amend the articles of incorporation and bylaws, the executive committee shall have all the powers and authority of the board in the intervals between meetings of the board, and is subject to the direction and control of the full board.”
Form 990, Part VI, Section A, Line 7A
“Any staff members employed at the school, including teachers, and all parents and legal guardians of students enrolled at the school are eligible to vote for the board of directors.”
Form 990, Part VI, Section A, Line 7B
“Changes to the bylaws require the approval of the teacher staff.”
Form 990, Part VI, Section B, Line 11B
“The school's finance committee reviews the form 990 in detail when the return is complete. All members of the board will receive a copy of the return prior to filing with the irs, but not after changes are made.”
Form 990, Part VI, Section B, Line 12C
“Each board member, principal officer and member of a committee with board delegated powers shall annually sign a conflict of interest statement. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the board and members of committees with board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. All deliberations and decisions involving conflicts of interest are documented in the meeting minutes.”
Form 990, Part VI, Section B, Line 15
“The board undertakes a comparison of compensation of executive directors in the twin cities in comparabel size and program.”
Form 990, Part VI, Section C, Line 19
“Venture academy accepts requests in writing or electronically for viewing of documents that are deemed public information. Much of this information is available at board meetings for review.”
Filing and Contact Details
Filer
- Filer Name
- Venture Academies
- EIN
- 61-1677994
- Phone
- 6123459040
- Address
- 315 27TH AVE SE, MINNEAPOLIS, MN 55414
Signing Officer
- Name
- Jon Bacal
- Title
- Chief Entrepreneuship Officer
- Phone
- 6126952396
- Signed
- 2019-04-22
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Jon Bacal
- Formed
- 2012
- Legal Domicile
- Mn
- Voting Board Members
- 10
- Independent Board Members
- 8
- Employees
- 55
- Volunteers
- 10
Preparer
- Firm
- SCHLENNER WENNER & CO CPA'S PA
- Address
- 630 ROOSEVELT RD STE 201, ST CLOUD, MN 56301
- Preparer
- Shelley M Gaetz
- Phone
- 3202510286
Supplemental Narrative
Additional Explanations
Form 990, Part IX, Line 11G
“Other service fees: program service expenses 363,835. Management and general expenses 128,403. Fundraising expenses 0. Total expenses 492,238. Transportation / public carrier: program service expenses 526,053. Management and general expenses 0. Fundraising expenses 0. Total expenses 526,053.”
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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/ActivityOrMissionDesc | 0 | THE MISSION OF VENTURE ACADEMY IS TO BUILD ENTREPRENEURIAL LEADERS BY DEVELOPING THE INDEPENDENCE, SCHOLARSHIP AND LEADERSHIP OF YOUNG PEOPLE.THE VISION OF VENTURE ACADEMY IS FOR EVERY YOUNG PERSON TO BECOME AN ENTREPRENEURIAL LEADER WHO IMPROVES THE WORLD AROUND THEM. |
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| IRS990/Desc | 0 | VENTURE ACADEMY IS A MIDDLE AND HIGH SCHOOL SERVING GRADES 6 THROUGH 11, EXPANDING TO 12TH GRADE IN 2019. THE SCHOOL EDUCATED STUDENTS WITH A COMBINED PURPOSE OF GROWING THE ENTREPRENEURIAL SPIRIT WHILE ASPIRING TO REACH INDIVIDUAL GOALS AND STATE EDUCATIONAL STANDARDS. |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 7 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 8 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 9 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 10 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 11 | 0 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 0 | CHAIRPERSON |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | TREASURER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | SECRETARY |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | EXECUTIVE DIRECTOR |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 0 |
| IRS990/FormationYr | 0 | 2012 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | 0 |
| IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd | 0 | X |
| IRS990/FSAuditedInd | 0 | 1 |
| IRS990/FundraisingActivitiesInd | 0 | 0 |
| IRS990/GamingActivitiesInd | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 10 |
| IRS990/GovernmentGrantsAmt | 0 | 5532639 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 0 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossReceiptsAmt | 0 | 5620676 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 0 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 1 |
| IRS990/IndependentVotingMemberCnt | 0 | 8 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartIXInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt | 0 | 26828 |
| IRS990/InformationTechnologyGrp/ProgramServicesAmt | 0 | 8296 |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 35124 |
| IRS990/InsuranceGrp/ManagementAndGeneralAmt | 0 | 4432 |
| IRS990/InsuranceGrp/ProgramServicesAmt | 0 | 7900 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 12332 |
| IRS990/InterestGrp/ProgramServicesAmt | 0 | 22791 |
| IRS990/InterestGrp/TotalAmt | 0 | 22791 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/IRPDocumentCnt | 0 | 18 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 155908 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 453417 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 418925 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 574833 |
| IRS990/LegalDomicileStateCd | 0 | MN |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 0 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | TO IGNITE THE PASSION OF ALL YOUNG PEOPLE TO BECOME INNOVATORS AND ENTREPRENEURIAL LEADERS WHO WILL CHANGE THE WORLD. VENTURE SEEKS TO ENABLE YOUNG PEOPLE TO ACHIEVE UNPRECEDENTED LEARNING GROWTH, DEMONSTRATE CHARACTER AND LEADERSHIP AND LEARN TO IMAGINE OPPORTUNITIES, TAKE INITIATIVE AND CREATE SOLUTIONS. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt | 0 | 466295 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt | 0 | 265490 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | -505279 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | -1915191 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 82686 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 547236 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 629922 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 589 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 120 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 709 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrgDoesNotFollowSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 4261756 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 4994752 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 57304 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 228370 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 285674 |
| IRS990/OtherExpensesGrp/Desc | 0 | FOOD SERVICE |
| IRS990/OtherExpensesGrp/Desc | 1 | NON-INSTRUCTIONAL SUPPL |
| IRS990/OtherExpensesGrp/Desc | 2 | INSTRUCTIONAL SUPPLIES |
| IRS990/OtherExpensesGrp/Desc | 3 | DUES & MEMBERSHIPS |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 10977 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 1 | 80498 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 2 | 30077 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 221865 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 50537 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 77708 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 8650 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 232842 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 131035 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 77708 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 38727 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 5565041 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 7648603 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 344840 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 2055337 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 2400177 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 28378 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 177324 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 205702 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt | 0 | -617401 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt | 0 | -2068706 |
| IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt | 0 | 199529 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 1314758 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 1514287 |
| IRS990/PledgesAndGrantsReceivableGrp/BOYAmt | 0 | 753357 |
| IRS990/PledgesAndGrantsReceivableGrp/EOYAmt | 0 | 422206 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 78438 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 149310 |
| IRS990/PrincipalOfficerNm | 0 | JON BACAL |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 900099 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | LOCAL REVENUE |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 88037 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 88037 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 5085590 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 0 |
| IRS990/PYOtherExpensesAmt | 0 | 1868037 |
| IRS990/PYOtherRevenueAmt | 0 | 0 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 110144 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -723542 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 4051239 |
| IRS990/PYTotalExpensesAmt | 0 | 5919276 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 5195734 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -1409912 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 0 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 1 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 88037 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 0 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 0 |
| IRS990ScheduleA/SchoolInd | 0 | X |
| IRS990/ScheduleBRequiredInd | 0 | 0 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 75481 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 71584 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 147065 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 7030588 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt | 0 | 343444 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt | 0 | 84324 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt | 0 | 427768 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 0 | 4994752 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | DEFERRED OUTFLOWS OF RESOURCES - PENSIONS |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 6501400 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 1147203 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | NET PENSION LIABILITY |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | DEFERRED INFLOWS OF RESOURCES - PENSION |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 0 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 5620676 |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 418925 |
| IRS990ScheduleD/TotalBookValueOtherAssetsAmt | 0 | 4994752 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 7030588 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 7648603 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 5620676 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 5620676 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 7030588 |
| IRS990ScheduleE/ComplianceWithRevProc7550Ind | 0 | 1 |
| IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceAthltProgInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEducPlcyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceOtherActyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceSchsInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd | 0 | 0 |
| IRS990ScheduleE/GovernmentFinancialAidRcvdInd | 0 | 1 |
| IRS990ScheduleE/GovernmentFinancialAidRvkdInd | 0 | 0 |
| IRS990ScheduleE/MaintainCpyOfAllSolInd | 0 | 1 |
| IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd | 0 | 1 |
| IRS990ScheduleE/MaintainRacialCompRecsInd | 0 | 1 |
| IRS990ScheduleE/MaintainScholarshipsRecsInd | 0 | 1 |
| IRS990ScheduleE/NondiscriminatoryPolicyStmtInd | 0 | 1 |
| IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd | 0 | 1 |
| IRS990ScheduleE/PolicyStmtInBrochuresEtcInd | 0 | 1 |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 0 | POLICIES ARE MADE AVAILABLE UPON REQUEST AND DURING REGISTRATION. |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 1 | IN MINNESOTA, CHARTER SCHOOLS ARE CONSIDERED PUBLIC SCHOOLS AND, AS SUCH, RECEIVE GENERAL EDUCATION AND SPECIAL EDUCATION AIDS IN ACCORDANCE WITH MINNESOTA DEPARTMENT OF EDUCATION FUNDING FORMULAS. |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE E, PART I, LINE 3 |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | SCHEDULE E, PART I, LINE 6 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | THE EXECUTIVE COMMITTEE SHALL AT TIMES BE SUBJECT TO THE DIRECTION AND CONTROL OF THE BOARD, AND ANY ACTIONS TAKEN BY THE EXECUTIVE COMMITTEE SHALL BE REPORTED TO THE FULL BOARD AT THE NEXT BOARD MEETING. THE FOUR OFFICERS SERVE AS THE MEMBERS OF THE EXECUTIVE COMMITTEE. EXCEPT FOR THE POWER TO AMEND THE ARTICLES OF INCORPORATION AND BYLAWS, THE EXECUTIVE COMMITTEE SHALL HAVE ALL THE POWERS AND AUTHORITY OF THE BOARD IN THE INTERVALS BETWEEN MEETINGS OF THE BOARD, AND IS SUBJECT TO THE DIRECTION AND CONTROL OF THE FULL BOARD. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | ANY STAFF MEMBERS EMPLOYED AT THE SCHOOL, INCLUDING TEACHERS, AND ALL PARENTS AND LEGAL GUARDIANS OF STUDENTS ENROLLED AT THE SCHOOL ARE ELIGIBLE TO VOTE FOR THE BOARD OF DIRECTORS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | CHANGES TO THE BYLAWS REQUIRE THE APPROVAL OF THE TEACHER STAFF. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE SCHOOL'S FINANCE COMMITTEE REVIEWS THE FORM 990 IN DETAIL WHEN THE RETURN IS COMPLETE. ALL MEMBERS OF THE BOARD WILL RECEIVE A COPY OF THE RETURN PRIOR TO FILING WITH THE IRS, BUT NOT AFTER CHANGES ARE MADE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | EACH BOARD MEMBER, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A CONFLICT OF INTEREST STATEMENT. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE BOARD AND MEMBERS OF COMMITTEES WITH BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. ALL DELIBERATIONS AND DECISIONS INVOLVING CONFLICTS OF INTEREST ARE DOCUMENTED IN THE MEETING MINUTES. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | THE BOARD UNDERTAKES A COMPARISON OF COMPENSATION OF EXECUTIVE DIRECTORS IN THE TWIN CITIES IN COMPARABEL SIZE AND PROGRAM. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | VENTURE ACADEMY ACCEPTS REQUESTS IN WRITING OR ELECTRONICALLY FOR VIEWING OF DOCUMENTS THAT ARE DEEMED PUBLIC INFORMATION. MUCH OF THIS INFORMATION IS AVAILABLE AT BOARD MEETINGS FOR REVIEW. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | OTHER SERVICE FEES: PROGRAM SERVICE EXPENSES 363,835. MANAGEMENT AND GENERAL EXPENSES 128,403. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 492,238. TRANSPORTATION / PUBLIC CARRIER: PROGRAM SERVICE EXPENSES 526,053. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 526,053. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART VI, SECTION A, LINE 1 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, SECTION A, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION A, LINE 7B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PART VI, SECTION B, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PART VI, SECTION B, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PART VI, SECTION B, LINE 15 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | FORM 990, PART IX, LINE 11G |
| IRS990/SchoolOperatingInd | 0 | 1 |
| IRS990/SignificantChangeInd | 0 | 0 |
| IRS990/SignificantNewProgramSrvcInd | 0 | 0 |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 0 | MN |
| IRS990/SubjectToProxyTaxInd | 0 | 0 |
| IRS990/TaxablePartyNotificationInd | 0 | 0 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2018 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $6,338,081
- Liabilities
- $8,253,272
- Net assets
- -$1,915,191
- Revenue
- $5,620,676
- Expenses
- $7,030,588
- Net income
- -$1,409,912