Liabilities / Assets
97th percentile
Higher debt load relative to assets than 97% of similar nonprofits.
Venture Academies
990 • Fiscal year 2021 • EIN 61-1677994
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
1.43x
Liabilities / Revenue
84th percentile
Higher debt load relative to revenue than 84% of similar nonprofits.
Net Margin
15th percentile
Higher net margin than 15% of similar nonprofits.
Top Officer Pay
35th percentile
Higher top officer pay than 35% of similar nonprofits.
Top officer pay equals 1.2% of source-year revenue.
Asset Growth
18th percentile
Faster asset growth than 18% of similar nonprofits.
Revenue Growth
34th percentile
Faster revenue growth than 34% of similar nonprofits.
Balance Sheet
Assets
Down$5,038,494
Down $113,105 (-2.2%) from 2020
Net Assets
Down-$2,158,052
Down $418,005 (-24%) from 2020
Liabilities
Up$7,196,546
Up $304,900 (+4.4%) from 2020
Revenue And Expenses
Revenue
Up$7,004,462
Up $136,847 (+2.0%) from 2020
Expenses
Up$7,422,467
Up $108,733 (+1.5%) from 2020
Net Income
Up-$418,005
Up $28,114 (+6.3%) from 2020
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2020 to Jun 30, 2021
- Signed
- May 9, 2022
- Return Version
- 2020v4.2
- Gross Receipts
- $7,004,462
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.
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.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Accounts Receivable | $946,929 | $938,521 | ▼ $8,408 |
| Savings and Temporary Cash Investments | $190,884 | $795,701 | ▲ $604,817 |
| Land, Buildings, and Equipment, Net | $468,771 | $419,428 | ▼ $49,343 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $234,068 | $289,132 | ▲ $55,064 |
| Prepaid Expenses and Deferred Charges | $127,467 | $135,472 | ▲ $8,005 |
| Rtn Earn Endowment Incm Other Fnds | $10,437 | $19,138 | ▲ $8,701 |
| Cap Stk Tr Prin Current Funds | $-1,984,552 | $-2,466,322 | ▼ $481,770 |
| Total Assets | $5,151,599 | $5,038,494 | ▼ $113,105 |
| Other Assets Total | $3,417,548 | $2,749,372 | ▼ $668,176 |
| Liabilities | |||
| Other Liabilities | $6,263,484 | $6,109,373 | ▼ $154,111 |
| Mortgage Notes Payable Secured by Investment Property | $534,703 | $987,269 | ▲ $452,566 |
| Accounts Payable and Accrued Expenses | $93,459 | $85,504 | ▼ $7,955 |
| Deferred Revenue | - | $14,400 | - |
| Total Liabilities | $6,891,646 | $7,196,546 | ▲ $304,900 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $-1,740,047 | $-2,158,052 | ▼ $418,005 |
| Total Liabilities and Net Assets / Fund Balance | $5,151,599 | $5,038,494 | ▼ $113,105 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $419,428 | $355,312 | $774,740 |
| Other Assets Org | $2,749,372 | - | - |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Charles Ellsworth | Treasurer | FT | $74,968 | $11,420 | $86,388 |
| Andrew Lawton | Vice-chairperson | FT | $72,294 | $11,701 | $83,995 |
Board Members and Trustees
| Name | Title |
|---|---|
| Beth Hawkins | Chairperson |
| Adrienne Vitt | Director |
| Jeff Robbins | Director |
| Katie Colon-holmers | Director |
| Marissa Birkland | Director |
| Roxann Anoka | Director |
| Jace Carlson | Secretary |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Millenium Management INC | Rent | 2000 CEDAR LAKE PARKWAY, Minneapolis, MN 55416 | $563,410 |
| Monarch Transportation | Student Transportation | 101 E 10TH ST SUITE 300, Hastings, MN 55033 | $316,178 |
| Done Right Food Services INC | Food Service | PO BOX 21153, Columbia Heights, MN 55421 | $234,784 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $6,998,603
- Program Service Revenue
- $0
- Investment Income
- $0
- Other Revenue
- $5,859
- All Other Contributions
- $24,293
- Change in Net Assets
- $-418,005
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $7,004,462
- Revenue Not Reported on Financial Statements
- $0
- Revenue Not Reported on Form 990
- $0
- Total Revenue per Audited Statements
- $7,004,462
- Total Revenue per Form 990
- $7,004,462
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $5,278,857 |
| Other Expenses | $2,118,963 |
| 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 | $3,306,666 | $353,764 | - | $3,660,430 |
| Pension Plan Contributions | $782,735 | $58,916 | - | $841,651 |
| Occupancy | $512,825 | $102,511 | - | $615,336 |
| Travel | $406,809 | - | - | $406,809 |
| Other Employee Benefits | $306,355 | $38,457 | - | $344,812 |
| Payroll Taxes | $258,516 | $26,415 | - | $284,931 |
| Fees for Services Other | $121,931 | $110,675 | - | $232,606 |
| Current Officers, Directors, Trustees, and Key Employees | $147,033 | - | - | $147,033 |
| Depreciation Depletion | $10,814 | $57,274 | - | $68,088 |
| Information Technology | $28,799 | $32,543 | - | $61,342 |
| Fees for Services Accounting | - | $60,000 | - | $60,000 |
| All Other Expenses | $22,807 | $34,908 | - | $57,715 |
| Office Expenses | - | $39,219 | - | $39,219 |
| Other Expenses | $36,631 | $44,033 | - | $36,631 |
| Insurance | - | $27,346 | - | $27,346 |
| Conferences and Meetings | $22,087 | $3,569 | - | $25,656 |
| Benefits to Members | $24,647 | - | - | $24,647 |
| Interest | - | $22,395 | - | $22,395 |
| Fees for Services Legal | - | $257 | - | $257 |
| Total Functional Expenses | $6,305,079 | $1,117,388 | $0 | $7,422,467 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Expenses per Audited Statements | $7,422,467 |
| Total Expenses per Audited Statements | $7,422,467 |
| Total Expenses per Form 990 | $7,422,467 |
| 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 | $3,939,595 |
| Deferred Inflows of Resources - Pension | $2,169,778 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- No
- 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
- 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 6
“The members of the school are its staff, students and the families that they serve all members are able to participate in election of board members.”
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 and the board reviews the form 990 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 twin cities in comparable 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
- Michael Warner
- Title
- CEO / Head of School
- Phone
- 6126952396
- Signed
- 2022-05-09
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Michael Warner
- Formed
- 2012
- Legal Domicile
- Mn
- Voting Board Members
- 9
- Independent Board Members
- 7
- Employees
- 95
- 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
Financial Statement Notes
PART X, LINE 2:
“The school is recognized by the internal revenue service as a not-for-profit organization under irs code section 501(c)(3). Due to the not-for-profit nature and provision of the school, all income and expenses attributable to the mission of the school are tax exempt and accordingly no provision or liability for income taxes have been made in the financial statements and contributions to the school are tax deductible to donors as allowed by irs regulations. However, the school is required to pay state and federal income taxes on unrelated business income. If the school were to engage in any activities that resulted in unrelated business income, a tax would be assessed on that activity. The school is open and subject to examination generally for three years after the filing date.”
Raw XML AppendixShowing 400 of 474 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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| IRS990/AccountsReceivableGrp/EOYAmt | 0 | 938521 |
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| IRS990/ActivityOrMissionDesc | 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. |
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| IRS990/BenefitsToMembersGrp/TotalAmt | 0 | 24647 |
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| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt | 2 | PO BOX 21153 |
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| IRS990/Desc | 0 | VENTURE ACADEMY IS A MIDDLE AND HIGH SCHOOL SERVING GRADES 6 THROUGH 12. 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/TitleTxt | 0 | CHAIRPERSON |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | VICE-CHAIRPERSON |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | TREASURER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | SECRETARY |
| 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/Form990ProvidedToGvrnBodyInd | 0 | 1 |
| 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 | 9 |
| IRS990/GovernmentGrantsAmt | 0 | 6974310 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 0 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossReceiptsAmt | 0 | 7004462 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 1 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 1 |
| IRS990/IndependentVotingMemberCnt | 0 | 7 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 0 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt | 0 | 32543 |
| IRS990/InformationTechnologyGrp/ProgramServicesAmt | 0 | 28799 |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 61342 |
| IRS990/InsuranceGrp/ManagementAndGeneralAmt | 0 | 27346 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 27346 |
| IRS990/InterestGrp/ManagementAndGeneralAmt | 0 | 22395 |
| IRS990/InterestGrp/TotalAmt | 0 | 22395 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/IRPDocumentCnt | 0 | 17 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 355312 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 468771 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 419428 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 774740 |
| IRS990/LegalDomicileStateCd | 0 | MN |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 1 |
| 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 | 534703 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt | 0 | 987269 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | -1740047 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | -2158052 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 102511 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 512825 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 615336 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 39219 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 39219 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrgDoesNotFollowFASB117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 3417548 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 2749372 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 38457 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 306355 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 344812 |
| IRS990/OtherExpensesGrp/Desc | 0 | FOOD AND BEVERAGE |
| IRS990/OtherExpensesGrp/Desc | 1 | NON-INSTRUCTIONAL SUPPL |
| IRS990/OtherExpensesGrp/Desc | 2 | DUES & MEMBERSHIPS |
| IRS990/OtherExpensesGrp/Desc | 3 | GRANT EXPENSES |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 47115 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 1 | 57991 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 2 | 44033 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 224471 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 86906 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 5047 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 36631 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 271586 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 144897 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 49080 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 36631 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 6263484 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 6109373 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 900099 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | INSURANCE PROCEEDS |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 0 | 5859 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 5859 |
| IRS990/OtherRevenueTotalAmt | 0 | 5859 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 353764 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 3306666 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 3660430 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 26415 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 258516 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 284931 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt | 0 | 234068 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt | 0 | 289132 |
| IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt | 0 | 58916 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 782735 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 841651 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 127467 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 135472 |
| IRS990/PrincipalOfficerNm | 0 | MICHAEL WARNER |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 6825912 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 0 |
| IRS990/PYOtherExpensesAmt | 0 | 2353990 |
| IRS990/PYOtherRevenueAmt | 0 | 0 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 41703 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -446119 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 4959744 |
| IRS990/PYTotalExpensesAmt | 0 | 7313734 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 6867615 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -418005 |
| 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 | 5859 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 10437 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 19138 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 190884 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 795701 |
| IRS990ScheduleA/SchoolInd | 0 | X |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | 1 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 419428 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 355312 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 774740 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 7422467 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 0 | 2749372 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | DEFERRED OUTFLOWS OF RESOURCES - PENSIONS |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 3939595 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 2169778 |
| 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 | 7004462 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | THE SCHOOL IS RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS A NOT-FOR-PROFIT ORGANIZATION UNDER IRS CODE SECTION 501(C)(3). DUE TO THE NOT-FOR-PROFIT NATURE AND PROVISION OF THE SCHOOL, ALL INCOME AND EXPENSES ATTRIBUTABLE TO THE MISSION OF THE SCHOOL ARE TAX EXEMPT AND ACCORDINGLY NO PROVISION OR LIABILITY FOR INCOME TAXES HAVE BEEN MADE IN THE FINANCIAL STATEMENTS AND CONTRIBUTIONS TO THE SCHOOL ARE TAX DEDUCTIBLE TO DONORS AS ALLOWED BY IRS REGULATIONS. HOWEVER, THE SCHOOL IS REQUIRED TO PAY STATE AND FEDERAL INCOME TAXES ON UNRELATED BUSINESS INCOME. IF THE SCHOOL WERE TO ENGAGE IN ANY ACTIVITIES THAT RESULTED IN UNRELATED BUSINESS INCOME, A TAX WOULD BE ASSESSED ON THAT ACTIVITY. THE SCHOOL IS OPEN AND SUBJECT TO EXAMINATION GENERALLY FOR THREE YEARS AFTER THE FILING DATE. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART X, LINE 2: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 419428 |
| IRS990ScheduleD/TotalBookValueOtherAssetsAmt | 0 | 2749372 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 7422467 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 6109373 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 7004462 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 7004462 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 7422467 |
| 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 | THE MEMBERS OF THE SCHOOL ARE ITS STAFF, STUDENTS AND THE FAMILIES THAT THEY SERVE ALL MEMBERS ARE ABLE TO PARTICIPATE IN ELECTION OF BOARD MEMBERS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | 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 | 3 | CHANGES TO THE BYLAWS REQUIRE THE APPROVAL OF THE TEACHER STAFF. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE SCHOOL'S FINANCE COMMITTEE AND THE BOARD REVIEWS THE FORM 990 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 | 5 | 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 | 6 | THE BOARD UNDERTAKES A COMPARISON OF COMPENSATION OF EXECUTIVE DIRECTORS IN TWIN CITIES IN COMPARABLE SIZE AND PROGRAM. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | 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/FormAndLineReferenceDesc | 0 | FORM 990, PART VI, SECTION A, LINE 1 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, SECTION A, LINE 6 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION A, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PART VI, SECTION A, LINE 7B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PART VI, SECTION B, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PART VI, SECTION B, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PART VI, SECTION B, LINE 15 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990/SchoolOperatingInd | 0 | 1 |
| IRS990/SignificantChangeInd | 0 | 0 |
| IRS990/SignificantNewProgramSrvcInd | 0 | 0 |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 0 | MN |
| IRS990/SubjectToExcsTaxNetInvstIncInd | 0 | 0 |
| IRS990/SubjectToProxyTaxInd | 0 | 0 |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | 0 |
| IRS990/TaxablePartyNotificationInd | 0 | 0 |
| IRS990/TaxExemptBondsInd | 0 | 0 |
| IRS990/TerminateOperationsInd | 0 | 0 |
| IRS990/TotalAssetsBOYAmt | 0 | 5151599 |
| IRS990/TotalAssetsEOYAmt | 0 | 5038494 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2021 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $5,038,494
- Liabilities
- $7,196,546
- Net assets
- -$2,158,052
- Revenue
- $7,004,462
- Expenses
- $7,422,467
- Net income
- -$418,005