Civic Intelligence

Prairie Seeds Academy

990 • Fiscal year 2014 • EIN 65-1216244

Jul 01, 2013 to Jun 30, 2014 • Filed on Apr 30, 2015

Organization Profilewww.psak12.org
6200 W Broadway Ave N55428

(763) 450-1388

Siviq Scores

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

Liabilities / Assets

40th percentile

0.11x

Higher debt load relative to assets than 40% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

27th percentile

0.07x

Higher debt load relative to revenue than 27% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Net Margin

66th percentile

8.7%

Higher net margin than 66% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

60th percentile

$139,456

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Asset Growth

83rd percentile

20%

Faster asset growth than 83% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

57th percentile

6.4%

Faster revenue growth than 57% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$6,031,722

Up $989,141 (+20%) from 2013

Net Assets

Up

$5,373,287

Up $779,499 (+17%) from 2013

Liabilities

Up

$658,435

Up $209,642 (+47%) from 2013

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin66th percentile

Revenue

Up

$8,998,241

Up $539,185 (+6.4%) from 2013

Expenses

Up

$8,218,742

Up $242,231 (+3.0%) from 2013

Net Income

Up

$779,499

Up $296,954 (+62%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth83rd percentile

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

$20M$15M$10M$5.0M$0Assets 2011: $3,533,614Liabilities 2011: $443,055Net Assets 2011: $3,090,5592011Assets 2012: $4,645,151Liabilities 2012: $533,908Net Assets 2012: $4,111,2432012Assets 2013: $5,042,581Liabilities 2013: $448,793Net Assets 2013: $4,593,7882013Assets 2014: $6,031,722Liabilities 2014: $658,435Net Assets 2014: $5,373,2872014Assets 2015: $7,723,846Liabilities 2015: $4,754,707Net Assets 2015: $2,969,1392015Assets 2016: $8,726,799Liabilities 2016: $4,955,540Net Assets 2016: $3,771,2592016Assets 2017: $17,022,411Liabilities 2017: $14,698,279Net Assets 2017: $2,324,1322017Assets 2018: $14,909,693Liabilities 2018: $14,417,665Net Assets 2018: $492,0282018Assets 2019: $12,622,903Liabilities 2019: $11,221,984Net Assets 2019: $1,400,9192019Assets 2020: $12,037,545Liabilities 2020: $11,358,532Net Assets 2020: $679,0132020Assets 2021: $11,928,237Liabilities 2021: $9,859,457Net Assets 2021: $2,068,7802021Assets 2022: $11,990,647Liabilities 2022: $9,757,876Net Assets 2022: $2,232,7712022Assets 2023: $12,325,252Liabilities 2023: $9,549,696Net Assets 2023: $2,775,5562023

Highlighted filing

2014

Assets$6,031,722
Liabilities$658,435
Net Assets$5,373,287
Open 2014 Filing

Operations Trend

Revenue Growth57th percentile

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

$15M$10M$5.0M$0-$5.0MExpenses 2011: $7,010,8542011Revenue 2012: $8,582,354Expenses 2012: $7,561,670Net Income 2012: $1,020,6842012Revenue 2013: $8,459,056Expenses 2013: $7,976,511Net Income 2013: $482,5452013Revenue 2014: $8,998,241Expenses 2014: $8,218,742Net Income 2014: $779,4992014Revenue 2015: $9,536,675Expenses 2015: $8,274,097Net Income 2015: $1,262,5782015Revenue 2016: $10,111,302Expenses 2016: $9,309,182Net Income 2016: $802,1202016Revenue 2017: $10,306,606Expenses 2017: $11,753,733Net Income 2017: -$1,447,1272017Revenue 2018: $10,745,743Expenses 2018: $12,577,847Net Income 2018: -$1,832,1042018Revenue 2019: $10,316,989Expenses 2019: $9,408,098Net Income 2019: $908,8912019Revenue 2020: $11,148,868Expenses 2020: $11,870,774Net Income 2020: -$721,9062020Revenue 2021: $14,361,129Expenses 2021: $12,971,362Net Income 2021: $1,389,7672021Revenue 2022: $13,475,629Expenses 2022: $13,311,638Net Income 2022: $163,9912022Revenue 2023: $14,073,551Expenses 2023: $13,530,766Net Income 2023: $542,7852023

Highlighted filing

2014

Revenue$8,998,241
Expenses$8,218,742
Net Income$779,499
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Apr 30, 2015
Return Version
2013v4.0
Gross Receipts
$8,998,241
Mission and Program Overview

Mission

Provide educational programs for grades k-12 in compliance with minnesota public education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$3,469,945$4,181,166▲ $711,221
Savings and Temporary Cash Investments$2,580,072$3,789,217▲ $1,209,145
Land, Buildings, and Equipment, Net$1,123,843$1,192,121▲ $68,278
Pd in Cap Srpls Land Bldg Eqp Fund$1,123,843$1,192,121▲ $68,278
Accounts Receivable$1,195,728$881,129▼ $314,599
Cash and Non-Interest-Bearing Accounts$131,362$142,435▲ $11,073
Prepaid Expenses and Deferred Charges$11,576$26,820▲ $15,244
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Total Assets$5,042,581$6,031,722▲ $989,141
Liabilities
Accounts Payable and Accrued Expenses$448,793$520,904▲ $72,111
Other Liabilities$0$137,531▲ $137,531
Total Liabilities$448,793$658,435▲ $209,642
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,593,788$5,373,287▲ $779,499
Total Liabilities and Net Assets / Fund Balance$5,042,581$6,031,722▲ $989,141

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$671,170$1,261,478$1,932,648
Leasehold Improvements$345,866$113,502$459,368
Buildings$175,085$19,816$194,901
Compensation and Service Providers
Top Officer Pay60th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Choua YangPrincipalFT$118,424$21,032$139,456
Cha Ger YangCEOFT$112,843$20,662$133,505
Melinda HansenTreasurer/TeacherFT$46,546$9,550$56,096
Jeffery CulpSecretary/TeacherFT$32,968$6,074$39,042
Ben WanggaardMember/TeacherFT$32,897$4,331$37,228

Board Members and Trustees

NameTitle
Doua LeeBoard Chair
Chee VueVice Chair/Teacher
Kristy ReinkeMember
Melani SuarezMember

Highest Paid Contractors

ContractorServicesLocationCompensation
CKC Good FoodCatered meals-$471,882
American Student TransportationTransportation-$276,453
Priority One TechnologiesTechnology Support-$157,968
Beltz Kes Darling and AssociatesFinancial Management and Payroll Service-$127,428
Revenue and Support

Revenue Composition

Contributions and Grants
$1,083,732
Program Service Revenue
$7,914,163
Investment Income
$346
Other Revenue
$0
All Other Contributions
$3,000
Change in Net Assets
$779,499

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,393,374
Revenue Not Reported on Financial Statements
$1,604,867
Revenue Not Reported on Form 990
$1,614,427
Other Revenue Adjustments
$1,604,867
Total Revenue per Audited Statements
$9,007,801
Total Revenue per Form 990
$8,998,241
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,181,035
Salaries, Compensation, and Employee Benefits$4,037,707
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,512,228$384,375-$2,896,603
Occupancy$1,715,226$266-$1,715,492
Fees for Services Other$367,572$56,726-$424,298
Office Expenses$374,718$30,986-$405,704
Current Officers, Directors, Trustees, and Key Employees$119,724$233,231-$352,955
Other Employee Benefits$196,099$130,688-$326,787
Payroll Taxes$192,459$42,485-$234,944
Pension Plan Contributions$183,824$42,594-$226,418
Depreciation Depletion$226,372--$226,372
Information Technology$138,040$4,466-$142,506
Fees for Services Accounting-$126,385-$126,385
Payments to Affiliates$22,578$40,035-$62,613
Insurance-$45,020-$45,020
Conferences and Meetings$19,278--$19,278
Other Expenses$18,424--$18,424
Fees for Services Legal-$7,915-$7,915
Travel$3,577$75-$3,652
Total Functional Expenses$7,073,495$1,145,247$0$8,218,742

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$8,327,752
Total Expenses per Form 990$8,218,742
Expenses per Audited Statements$6,613,875
Expenses Not Reported on Form 990$1,713,877
Expenses Not Reported on Financial Statements$1,604,867
Other Expense Adjustments$1,604,867
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
Compensated absences payable$137,531
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 2

“Cha Ger Yang and Choua Yang are both officers and have a family relationship.”

Form 990, Part VI, Section B, line 11

“The Form 990 is prepared by an independent accounting firm. Once the form is completed, it is given to the CEO and financial manager for review before it is signed and filed. The entire board does not review the 990 prior to being filed.”

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

“Board members are required to annually report any potential conflicts of interest that may occur. Any potential conflicts are identified and resolved.”

Form 990, Part VI, Section B, line 15

“Annual market rate analysis is used to determine appropriate compensation.”

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.”

Form 990, Part VI, Section A, Line 1B

“INDEPENDENT BOARD MEMBERS Several members of the board are teachers at the school. Minnesota State Statute 124D.10 Subd. 4(g) requires the board to have at least one member that is an employee/contracted teacher.”

Filing and Contact Details

Filer

EIN
65-1216244
Phone
7634501388

Signing Officer

Name
Ger Cha Yang
Title
CEO
Phone
7634501388
Signed
2015-04-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cha Ger Yang
Formed
2004
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
4
Employees
119
Volunteers
25

Preparer

Preparer
Thomas A Karnowski
Phone
9525450424
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C:

“AUTHORIZER: The Academy is required to have an Authorizer to monitor its operations in order to maintain its charter. The Academy's approved Authorizer during the fiscal year 2014 was Audubon Center of the North Woods.”

Related Organization

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

Independent Auditor

“The financial statements are prepared by an independent accounting firm. The statements are reviewed and approved by the board before being issued. This process is the same as last year.”

Financial Statement Notes

Part X, Line 2:

“The Academy is exempt from federal and state income taxes under Internal Revenue Service Code Section 501(c)(3). The Academy is subject to tax on income from any unrelated business. The Academy and the Building Company are subject to recognition requirements for uncertain income tax positions as required by the Financial Accounting Standards Board (FASB) Accounting Standards Codification 740-10 (formerly known as FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes). 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 Internal Revenue Service and the state jurisdiction where it operates. The Academy and the Building Company believe that income tax filing positions will be sustained upon examination and do not anticipate any adjustments that would result in a material adverse effect on the Academy and the Building Companys 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 June 30, 2014.”

Part XI, Line 2D - Other Adjustments:

“Revenue reported by related party - PSA Building Company 1,614,427.”

Part XI, Line 4B - Other Adjustments:

“Rent received from related party netted in financial statements 1,604,867.”

Part XII, Line 2D - Other Adjustments:

“Expenses reported by related party - PSA Building Company 1,713,877.”

Part XII, Line 4B - Other Adjustments:

“Rent paid to related party netted in financial statements 1,604,867.”

Raw XML AppendixShowing 400 of 517 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/Desc0Prairie Seeds Academy (PSA) opened in the fall of 2004 focused on serving underprivileged children. Since the opening of PSA the School has grown to an enrollment of 781 students serving a wide variety of students in grades K-12. The School has made significant progress closing the education achievement gap that exist in the students PSA currently serves. During the fiscal year ended June 30, 2014 Prairie Seeds Academy served an estimated 781 students.
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IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GovernmentGrantsAmt01080732
IRS990/GrantAmt00
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt08998241
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt04
IRS990/IndivRcvdGreaterThan100KCnt02
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt04466
IRS990/InformationTechnologyGrp/ProgramServicesAmt0138040
IRS990/InformationTechnologyGrp/TotalAmt0142506
IRS990/InsuranceGrp/ManagementAndGeneralAmt045020
IRS990/InsuranceGrp/TotalAmt045020
IRS990/InvestmentIncomeGrp/ExclusionAmt0346
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0346
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt034
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt01394796
IRS990/LandBldgEquipBasisNetGrp/BOYAmt01123843
IRS990/LandBldgEquipBasisNetGrp/EOYAmt01192121
IRS990/LandBldgEquipCostOrOtherBssAmt02586917
IRS990/LegalDomicileStateCd0MN
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0The mission of Prairie Seeds Academy is to provide quality, relevant and multicultural education for all children. Therefore, the school will continuously promote the collaborative efforts and opportunities between children, parents, teachers, and the community.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt04593788
IRS990/NetAssetsOrFundBalancesEOYAmt05373287
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt0266
IRS990/OccupancyGrp/ProgramServicesAmt01715226
IRS990/OccupancyGrp/TotalAmt01715492
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt030986
IRS990/OfficeExpensesGrp/ProgramServicesAmt0374718
IRS990/OfficeExpensesGrp/TotalAmt0405704
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0130688
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0196099
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0326787
IRS990/OtherExpensesGrp/Desc0Food
IRS990/OtherExpensesGrp/Desc1Transportation
IRS990/OtherExpensesGrp/Desc2Field Trips
IRS990/OtherExpensesGrp/ProgramServicesAmt0598506
IRS990/OtherExpensesGrp/ProgramServicesAmt1384870
IRS990/OtherExpensesGrp/ProgramServicesAmt218424
IRS990/OtherExpensesGrp/TotalAmt0598506
IRS990/OtherExpensesGrp/TotalAmt1384870
IRS990/OtherExpensesGrp/TotalAmt218424
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt0137531
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0384375
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt02512228
IRS990/OtherSalariesAndWagesGrp/TotalAmt02896603
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/ManagementAndGeneralAmt040035
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt022578
IRS990/PaymentsToAffiliatesGrp/TotalAmt062613
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt042485
IRS990/PayrollTaxesGrp/ProgramServicesAmt0192459
IRS990/PayrollTaxesGrp/TotalAmt0234944
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt01123843
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt01192121
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt042594
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0183824
IRS990/PensionPlanContributionsGrp/TotalAmt0226418
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt011576
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt026820
IRS990/PrincipalOfficerNm0Cha Ger Yang
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/Desc0Federal and State Sour
IRS990/ProgramServiceRevenueGrp/Desc1Other Educational Purp
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt07880133
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt134030
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt07880133
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt134030
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01053481
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0601
IRS990/PYOtherExpensesAmt04077284
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt07404974
IRS990/PYRevenuesLessExpensesAmt0482545
IRS990/PYSalariesCompEmpBnftPaidAmt03899227
IRS990/PYTotalExpensesAmt07976511
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt08459056
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0779499
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt07914163
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02580072
IRS990/SavingsAndTempCashInvstGrp/EOYAmt03789217
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0175085
IRS990ScheduleD/BuildingsGrp/DepreciationAmt019816
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0194901
IRS990ScheduleD/EquipmentGrp/BookValueAmt0671170
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01261478
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01932648
IRS990ScheduleD/ExpensesNotReportedAmt01713877
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt01604867
IRS990ScheduleD/ExpensesSubtotalAmt06613875
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0345866
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0113502
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0459368
IRS990ScheduleD/OtherExpensesIncludedAmt01713877
IRS990ScheduleD/OtherExpensesNotIncludedAmt01604867
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0137531
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Compensated absences payable
IRS990ScheduleD/OtherRevenueAmt01614427
IRS990ScheduleD/OtherRevenuesNotIncludedAmt01604867
IRS990ScheduleD/RevenueNotReportedAmt01614427
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt01604867
IRS990ScheduleD/RevenueSubtotalAmt07393374
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Academy is exempt from federal and state income taxes under Internal Revenue Service Code Section 501(c)(3). The Academy is subject to tax on income from any unrelated business. The Academy and the Building Company are subject to recognition requirements for uncertain income tax positions as required by the Financial Accounting Standards Board (FASB) Accounting Standards Codification 740-10 (formerly known as FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes). 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 Internal Revenue Service and the state jurisdiction where it operates. The Academy and the Building Company believe that income tax filing positions will be sustained upon examination and do not anticipate any adjustments that would result in a material adverse effect on the Academy and the Building Companys 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 June 30, 2014.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Revenue reported by related party - PSA Building Company 1,614,427.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Rent received from related party netted in financial statements 1,604,867.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3Expenses reported by related party - PSA Building Company 1,713,877.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt4Rent paid to related party netted in financial statements 1,604,867.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XI, Line 2d - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XI, Line 4b - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3Part XII, Line 2d - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc4Part XII, Line 4b - Other Adjustments:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01192121
IRS990ScheduleD/TotalExpensesPerForm990Amt08218742
IRS990ScheduleD/TotalLiabilityAmt0137531
IRS990ScheduleD/TotalRevenuePerForm990Amt08998241
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt09007801
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt08327752
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0Nondiscrimination policy is included in registration materials
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1The Academy receives state and federal aid for the purpose of educating students.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Part I, Line 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Cha Ger Yang and Choua Yang are both officers and have a family relationship.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Form 990 is prepared by an independent accounting firm. Once the form is completed, it is given to the CEO and financial manager for review before it is signed and filed. The entire board does not review the 990 prior to being filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Board members are required to annually report any potential conflicts of interest that may occur. Any potential conflicts are identified and resolved.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Annual market rate analysis is used to determine appropriate compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5AUTHORIZER: The Academy is required to have an Authorizer to monitor its operations in order to maintain its charter. The Academy's approved Authorizer during the fiscal year 2014 was Audubon Center of the North Woods.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Made an effort to obtain information on compensation, if any, was paid from a related organization. No response received and transactions noted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7The financial statements are prepared by an independent accounting firm. The statements are reviewed and approved by the board before being issued. This process is the same as last year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8INDEPENDENT BOARD MEMBERS Several members of the board are teachers at the school. Minnesota State Statute 124D.10 Subd. 4(g) requires the board to have at least one member that is an employee/contracted teacher.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XII, Line 2c:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6RELATED ORGANIZATION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7INDEPENDENT AUDITOR
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part VI, Section A, Line 1B
IRS990ScheduleR/AssetExchangeInd00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,031,722
Liabilities
$658,435
Net assets
$5,373,287
Revenue
$8,998,241
Expenses
$8,218,742
Net income
$779,499
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$12.3$9.55$2.78$14.1$13.5$0.54
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.0$9.76$2.23$13.5$13.3$0.16
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.9$9.86$2.07$14.4$13.0$1.39
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.0$11.4$0.68$11.1$11.9$0.72
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.6$11.2$1.40$10.3$9.41$0.91
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.9$14.4$0.49$10.7$12.6$1.83
2017Summary only. Only limited summary data is available for this year.$17.0$14.7$2.32$10.3$11.8$1.45
2016Detailed filing. Detailed filing data is available for this year.$8.73$4.96$3.77$10.1$9.31$0.80
2015Detailed filing. Detailed filing data is available for this year.$7.72$4.75$2.97$9.54$8.27$1.26
2014Detailed filing. Detailed filing data is available for this year.$6.03$0.66$5.37$9.00$8.22$0.78
2013Summary only. Only limited summary data is available for this year.$5.04$0.45$4.59$8.46$7.98$0.48
2012Summary only. Only limited summary data is available for this year.$4.65$0.53$4.11$8.58$7.56$1.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.53$0.44$3.09$7.01