Liabilities / Assets
88th percentile
Higher debt load relative to assets than 88% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.87x
Liabilities / Revenue
72nd percentile
Higher debt load relative to revenue than 72% of similar nonprofits.
Net Margin
58th percentile
Higher net margin than 58% of similar nonprofits.
Top Officer Pay
Score unavailable
This filing does not contain officer compensation rows.
Asset Growth
75th percentile
Faster asset growth than 75% of similar nonprofits.
Revenue Growth
65th percentile
Faster revenue growth than 65% of similar nonprofits.
Balance Sheet
Assets
Up$3,854,493
Up $368,768 (+11%) from 2015
Net Assets
Up$512,181
Up $214,118 (+72%) from 2015
Liabilities
Up$3,342,312
Up $154,650 (+4.9%) from 2015
Revenue And Expenses
Revenue
Up$5,998,181
Up $481,560 (+8.7%) from 2015
Expenses
Up$5,729,921
Up $528,588 (+10%) from 2015
Net Income
Down$268,260
Down $47,028 (-15%) from 2015
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2015 to Jun 30, 2016
- Signed
- Apr 11, 2017
- Return Version
- 2015v3.0
- Gross Receipts
- $6,001,864
Mission and Program Overview
Mission
Kaleidoscope Charter School's mission is to prepare students for tomorrow by emphasizing academic excellence and character development today.
To provide educational programs for grades k-9 in compliance with minnesota public education.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Cash and Non-Interest-Bearing Accounts | $2,164,258 | $2,459,046 | ▲ $294,788 |
| Land, Buildings, and Equipment, Net | $336,658 | $298,717 | ▼ $37,941 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $288,945 | $270,089 | ▼ $18,856 |
| Cap Stk Tr Prin Current Funds | $9,118 | $242,092 | ▲ $232,974 |
| Accounts Receivable | $237,233 | $175,794 | ▼ $61,439 |
| Prepaid Expenses and Deferred Charges | $48,455 | $30,517 | ▼ $17,938 |
| Rtn Earn Endowment Incm Other Fnds | $0 | $0 | → $0 |
| Total Assets | $3,485,725 | $3,854,493 | ▲ $368,768 |
| Other Assets Total | $699,121 | $890,419 | ▲ $191,298 |
| Liabilities | |||
| Other Liabilities | $2,728,763 | $2,905,478 | ▲ $176,715 |
| Accounts Payable and Accrued Expenses | $458,899 | $436,834 | ▼ $22,065 |
| Total Liabilities | $3,187,662 | $3,342,312 | ▲ $154,650 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $298,063 | $512,181 | ▲ $214,118 |
| Total Liabilities and Net Assets / Fund Balance | $3,485,725 | $3,854,493 | ▲ $368,768 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $216,735 | $341,107 | $557,842 |
| Buildings | $81,982 | $13,443 | $95,425 |
| Other Assets Org | $734,005 | - | - |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Dr Brett Wedlund | Executive Director | FT | $102,610 | $6,912 | $109,522 |
| Julie Simmons | Board Member/teacher | FT | $43,983 | $2,871 | $46,854 |
| Noel Nivala | Board Member/teacher | FT | $42,318 | $2,884 | $45,202 |
| Tyler Maher | Board Member/teacher | FT | $38,934 | $2,742 | $41,676 |
Board Members and Trustees
| Name | Title |
|---|---|
| Luke Anderson | Board Chair |
| Colleen Corona | Board Member |
| Gary Buentemeier | Board Member |
| Todd Hildebrand | Board Member |
| Chris Peterson | Board Treasurer |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Ckc Good Food | Food Service | PO BOX 431419, Brooklyn Park, MN 55443 | $107,565 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $5,834,994
- Program Service Revenue
- $104,876
- Investment Income
- $1,032
- Other Revenue
- $57,279
- All Other Contributions
- $37,685
- Change in Net Assets
- $268,260
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $5,998,181
- Revenue Not Reported on Financial Statements
- $0
- Revenue Not Reported on Form 990
- $782,729
- Total Revenue per Audited Statements
- $6,780,910
- Total Revenue per Form 990
- $5,998,181
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $3,583,478 |
| Other Expenses | $2,146,443 |
| 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 | $2,754,033 | $103,021 | - | $2,857,054 |
| Occupancy | $902,025 | $25,169 | - | $927,194 |
| Office Expenses | $309,371 | $38,400 | - | $347,771 |
| Fees for Services Other | $282,008 | $58,753 | - | $340,761 |
| Payroll Taxes | $212,634 | $67,754 | - | $280,388 |
| Current Officers, Directors, Trustees, and Key Employees | $130,006 | $104,552 | - | $234,558 |
| Pension Plan Contributions | $182,668 | $6,140 | - | $188,808 |
| Depreciation Depletion | $79,185 | $2,215 | - | $81,400 |
| Fees for Services Accounting | - | $54,293 | - | $54,293 |
| Travel | $54,143 | - | - | $54,143 |
| All Other Expenses | $43,167 | - | - | $43,167 |
| Other Expenses | $714 | $34,995 | - | $35,709 |
| Other Employee Benefits | $22,004 | $666 | - | $22,670 |
| Insurance | $21,916 | - | - | $21,916 |
| Fees for Services Legal | - | $19,500 | - | $19,500 |
| Conferences and Meetings | $13,476 | $360 | - | $13,836 |
| Total Functional Expenses | $5,214,103 | $515,818 | $0 | $5,729,921 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $8,692,064 |
| Total Expenses per Form 990 | $5,729,921 |
| Expenses per Audited Statements | $5,648,521 |
| Expenses Not Reported on Form 990 | $3,043,543 |
| Expenses Not Reported on Financial Statements | $81,400 |
| Other Expense Adjustments | $81,400 |
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 |
|---|---|
| Pension Liability Payable | $2,643,056 |
| Deferred Pension Inflows | $233,794 |
| Special Assessments | $28,628 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- 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
- No
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- Yes
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Section A, Line 6
“The school has two classes: community members & parents/guardians of enrolled students and employee members.”
Form 990, Part VI, Section A, Line 7A
“Community members, parents/guardians of students, and staff are eligible to vote for board members.”
Form 990, Part VI, Section A, Line 8B
“The school does not have any committees with broad authority to act on behalf of the governing body.”
Form 990, Part VI, Section B, Line 11
“The form 990 is prepared by an independent accounting firm. Once the form is completed, a draft is reviewed by the accounting services provider, the executive director, and board chair prior to filing with the irs.”
Form 990, Part VI, Section B, Line 12C
“Annually, board members and key employees complete a full disclosure which includes the member, spouse, and close relatives to identify potential conflicts of interest. The board of directors reviews and determines if conflicts of interest exist. Conflict of interest forms are also reviewed annually by the audit firm. Individuals with potential or actual conflicts of interest do not vote on that matter. All proceedings related to conflicts of interest are documented in the meeting minutes.”
Form 990, Part VI, Section B, Line 15A
“The board personnel committee, based on annual performance reviews and comparative compensation information from other charter schools, determines the annual salaries and makes a recommendation to the board. The board makes final determinations on compensation based on the recommendations from the finance and personnel committees as part of the annual budget process. This was last performed in 2015 for the executive director for the 2015-2016 school year. No compensation is provided to board members who are not part of the staff.”
Form 990, Part VI, Section C, Line 19
“The school's governing documents, conflict of interest policy, and financial statements are all available upon request.”
Filing and Contact Details
Filer
- Filer Name
- Kaleidoscope Charter School
- EIN
- 73-1663207
- Phone
- 7634281890
- Address
- 7525 KALLAND AVENUE, OTSEGO, MN 55301
Signing Officer
- Name
- Luke Anderson
- Title
- Board Chair
- Phone
- 7634281890
- Signed
- 2017-04-11
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Dr Brett Wedlund
- Formed
- 2002
- Legal Domicile
- Mn
- Voting Board Members
- 8
- Independent Board Members
- 5
- Employees
- 116
- Volunteers
- 5
Preparer
- Firm
- Cliftonlarsonallen Llp
- Address
- 220 SOUTH SIXTH STREET SUITE 300, MINNEAPOLIS, MN 55402
- Preparer
- Dennis Hoogeveen
- Phone
- 6123764500
Supplemental Narrative
Additional Explanations
FORM 990, PART XI, LINE 9:
“Change in pension liability -54,142.”
Form 990, Part XII, Line 1
“The school follows a modified accrual method of accounting as prescribed by the minnesota department of education. The school-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Grants and similar items are recognized when all eligibility requirements imposed by the provider have been met.”
Financial Statement Notes
PART XI, LINE 2D - OTHER ADJUSTMENTS:
“Affiliated building company revenues reported on separate return 782,729.”
PART XII, LINE 2D - OTHER ADJUSTMENTS:
“Affiliated building company expenses reported on a separate return 2,980,999. Special assessment principal payment 19,085. Capitalized expenditures 41,458. Capital outlay over capital assets additions 2,001.”
PART XII, LINE 4B - OTHER ADJUSTMENTS:
“Depreciation expense 81,400.”
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| IRS990/Desc | 0 | EDUCATION FOR ELEMENTARY & MIDDLE SCHOOL GRADES: KALEIDOSCOPE CHARTER SCHOOL PROVIDES AN INNOVATIVE SERVICE-LEARNING, PROJECT-BASED EDUCATION IN WHICH STUDENTS, FAMILIES, STAFF AND THE LARGER COMMUNITY CONTRIBUTE TO AN ENVIRONMENT OF DYNAMIC LEARNING AND ACHIEVEMENT FOR CHILDREN AND YOUTH. AVERAGE DAILY ENROLLMENT FOR THE YEAR ENDED JUNE 30, 2016 WAS 500 STUDENTS. |
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| IRS990/IndependentVotingMemberCnt | 0 | 5 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 1 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIInd | 0 | X |
| IRS990/InsuranceGrp/ProgramServicesAmt | 0 | 21916 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 21916 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 1032 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 1032 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/IRPDocumentCnt | 0 | 19 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 354550 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 336658 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 298717 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 653267 |
| IRS990/LegalDomicileStateCd | 0 | MN |
| IRS990/LessRentalExpensesGrp/RealAmt | 0 | 0 |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 1 |
| IRS990/MethodOfAccountingOtherInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 0 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | AN EDUCATIONAL FAMILY THAT CULTIVATES INQUISITIVE LEADERS WHO POSSESS INTEGRITY AND A PASSION FOR LEARNING. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 298063 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 512181 |
| IRS990/NetIncomeOrLossGrp/ExclusionAmt | 0 | 10651 |
| IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | 10651 |
| IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt | 0 | 22148 |
| IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | 22148 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 25169 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 902025 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 927194 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 38400 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 309371 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 347771 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrgDoesNotFollowSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 699121 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 890419 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | -54142 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 666 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 22004 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 22670 |
| IRS990/OtherExpensesGrp/Desc | 0 | SPECIAL EDUCATION |
| IRS990/OtherExpensesGrp/Desc | 1 | REPAIRS AND MAINTENANCE |
| IRS990/OtherExpensesGrp/Desc | 2 | DUES, MEMBERSHIP, LIC |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 34995 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 165791 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 40962 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 714 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 165791 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 40962 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 35709 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 2728763 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 2905478 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 900099 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 1 | 900009 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 2 | 900099 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | MISCELLANEOUS REVENUE |
| IRS990/OtherRevenueMiscGrp/Desc | 1 | SETTLEMENT |
| IRS990/OtherRevenueMiscGrp/Desc | 2 | INSURANCE RECOVERY |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 0 | 20192 |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 1 | 3300 |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 2 | 988 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 20192 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 1 | 3300 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 2 | 988 |
| IRS990/OtherRevenueTotalAmt | 0 | 24480 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 103021 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 2754033 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 2857054 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 67754 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 212634 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 280388 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt | 0 | 288945 |
| IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt | 0 | 270089 |
| IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt | 0 | 6140 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 182668 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 188808 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 48455 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 30517 |
| IRS990/PrincipalOfficerNm | 0 | DR BRETT WEDLUND |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 611710 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 611710 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | FOOD SERVICE REVENUE |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | ACTIVITY REVENUE |
| IRS990/ProgramServiceRevenueGrp/ExclusionAmt | 0 | 68243 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 36633 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 68243 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 36633 |
| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | FOOD SERVICE LUNCH PROGRAM: KALEIDOSCOPE CHARTER SCHOOL OFFERS HOT LUNCH TO STUDENTS K-8 EACH DAY AND PARTICIPATES IN THE NATIONAL LUNCH PROGRAM. |
| IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt | 0 | 201130 |
| IRS990/ProgSrvcAccomActy2Grp/GrantAmt | 0 | 0 |
| IRS990/ProgSrvcAccomActy2Grp/RevenueAmt | 0 | 0 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 5342468 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 387 |
| IRS990/PYOtherExpensesAmt | 0 | 2064005 |
| IRS990/PYOtherRevenueAmt | 0 | 84553 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 89213 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 315288 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 3137328 |
| IRS990/PYTotalExpensesAmt | 0 | 5201333 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 5516621 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 268260 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 1 |
| IRS990/RentalIncomeOrLossGrp/RealAmt | 0 | 22148 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 1 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 36633 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 0 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 0 |
| IRS990ScheduleA/SchoolInd | 0 | X |
| IRS990/ScheduleBRequiredInd | 0 | 0 |
| IRS990ScheduleD/BuildingsGrp/BookValueAmt | 0 | 81982 |
| IRS990ScheduleD/BuildingsGrp/DepreciationAmt | 0 | 13443 |
| IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 95425 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 216735 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 341107 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 557842 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 3043543 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 81400 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 5648521 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 0 | 156414 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 1 | 734005 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | DUE FROM BUILDING COMPANY |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 1 | DEFERRED PENSION OUTFLOWS |
| IRS990ScheduleD/OtherExpensesIncludedAmt | 0 | 3043543 |
| IRS990ScheduleD/OtherExpensesNotIncludedAmt | 0 | 81400 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 28628 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 2643056 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 2 | 233794 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | SPECIAL ASSESSMENTS |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | PENSION LIABILITY PAYABLE |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 2 | DEFERRED PENSION INFLOWS |
| IRS990ScheduleD/OtherRevenueAmt | 0 | 782729 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 782729 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 5998181 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | AFFILIATED BUILDING COMPANY REVENUES REPORTED ON SEPARATE RETURN 782,729. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | AFFILIATED BUILDING COMPANY EXPENSES REPORTED ON A SEPARATE RETURN 2,980,999. SPECIAL ASSESSMENT PRINCIPAL PAYMENT 19,085. CAPITALIZED EXPENDITURES 41,458. CAPITAL OUTLAY OVER CAPITAL ASSETS ADDITIONS 2,001. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 2 | DEPRECIATION EXPENSE 81,400. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART XI, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | PART XII, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | PART XII, LINE 4B - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 298717 |
| IRS990ScheduleD/TotalBookValueOtherAssetsAmt | 0 | 890419 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 5729921 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 2905478 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 5998181 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 6780910 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 8692064 |
| 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 | THE SCHOOL'S NONDISCRIMINATORY POLICY IS PUBLICIZED IN ALL SOLICITATIONS FOR STUDENTS. |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 1 | THE SCHOOL RECEIVES FEDERAL AND STATE FUNDING. |
| 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 SCHOOL HAS TWO CLASSES: COMMUNITY MEMBERS & PARENTS/GUARDIANS OF ENROLLED STUDENTS AND EMPLOYEE MEMBERS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | COMMUNITY MEMBERS, PARENTS/GUARDIANS OF STUDENTS, AND STAFF ARE ELIGIBLE TO VOTE FOR BOARD MEMBERS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE SCHOOL DOES NOT HAVE ANY COMMITTEES WITH BROAD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. ONCE THE FORM IS COMPLETED, A DRAFT IS REVIEWED BY THE ACCOUNTING SERVICES PROVIDER, THE EXECUTIVE DIRECTOR, AND BOARD CHAIR PRIOR TO FILING WITH THE IRS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | ANNUALLY, BOARD MEMBERS AND KEY EMPLOYEES COMPLETE A FULL DISCLOSURE WHICH INCLUDES THE MEMBER, SPOUSE, AND CLOSE RELATIVES TO IDENTIFY POTENTIAL CONFLICTS OF INTEREST. THE BOARD OF DIRECTORS REVIEWS AND DETERMINES IF CONFLICTS OF INTEREST EXIST. CONFLICT OF INTEREST FORMS ARE ALSO REVIEWED ANNUALLY BY THE AUDIT FIRM. INDIVIDUALS WITH POTENTIAL OR ACTUAL CONFLICTS OF INTEREST DO NOT VOTE ON THAT MATTER. ALL PROCEEDINGS RELATED TO CONFLICTS OF INTEREST ARE DOCUMENTED IN THE MEETING MINUTES. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | THE BOARD PERSONNEL COMMITTEE, BASED ON ANNUAL PERFORMANCE REVIEWS AND COMPARATIVE COMPENSATION INFORMATION FROM OTHER CHARTER SCHOOLS, DETERMINES THE ANNUAL SALARIES AND MAKES A RECOMMENDATION TO THE BOARD. THE BOARD MAKES FINAL DETERMINATIONS ON COMPENSATION BASED ON THE RECOMMENDATIONS FROM THE FINANCE AND PERSONNEL COMMITTEES AS PART OF THE ANNUAL BUDGET PROCESS. THIS WAS LAST PERFORMED IN 2015 FOR THE EXECUTIVE DIRECTOR FOR THE 2015-2016 SCHOOL YEAR. NO COMPENSATION IS PROVIDED TO BOARD MEMBERS WHO ARE NOT PART OF THE STAFF. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | THE SCHOOL'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE ALL AVAILABLE UPON REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | CHANGE IN PENSION LIABILITY -54,142. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 8 | THE SCHOOL FOLLOWS A MODIFIED ACCRUAL METHOD OF ACCOUNTING AS PRESCRIBED BY THE MINNESOTA DEPARTMENT OF EDUCATION. THE SCHOOL-WIDE FINANCIAL STATEMENTS ARE REPORTED USING THE ECONOMIC RESOURCES MEASUREMENT FOCUS AND THE ACCRUAL BASIS OF ACCOUNTING. GRANTS AND SIMILAR ITEMS ARE RECOGNIZED WHEN ALL ELIGIBILITY REQUIREMENTS IMPOSED BY THE PROVIDER HAVE BEEN MET. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART VI, SECTION A, LINE 6 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, SECTION A, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION A, LINE 8B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PART VI, SECTION B, LINE 11 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2016 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $3,854,493
- Liabilities
- $3,342,312
- Net assets
- $512,181
- Revenue
- $5,998,181
- Expenses
- $5,729,921
- Net income
- $268,260
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