Civic Intelligence

Virtual Properties

990 • Fiscal year 2018 • EIN 81-2781882

Jul 01, 2017 to Jun 30, 2018 • Filed on May 15, 2019

Organization Profilecva.k12.mn.us
768 Hamline Avenue SouthSt Paul, MN 55116

(651) 523-7170

Siviq Scores

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

Liabilities / Assets

99th percentile

15.00x

Higher debt load relative to assets than 99% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2018

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

47th percentile

0.0%

Faster asset growth than 47% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets99th percentile

Assets

Flat

$150

Flat from 2017

Net Assets

Flat

-$2,100

Flat from 2017

Liabilities

Flat

$2,250

Flat from 2017

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

Flat

$0

Flat from 2017

Expenses

Down

$0

Down $2,100 (-100%) from 2017

Net Income

Up

$0

Up $2,100 (+100%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth47th percentile

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

$10M$5.0M$0-$5.0MAssets 2017: $150Liabilities 2017: $2,250Net Assets 2017: -$2,1002017Assets 2018: $150Liabilities 2018: $2,250Net Assets 2018: -$2,1002018Assets 2019: $150Liabilities 2019: $2,250Net Assets 2019: -$2,1002019Assets 2020: $150Liabilities 2020: $2,250Net Assets 2020: -$2,1002020Assets 2021: $150Liabilities 2021: $2,250Net Assets 2021: -$2,1002021Assets 2022: $6,700,854Liabilities 2022: $7,369,716Net Assets 2022: -$668,8622022Assets 2023: $7,034,719Liabilities 2023: $7,387,128Net Assets 2023: -$352,4092023Assets 2024: $6,996,775Liabilities 2024: $7,387,490Net Assets 2024: -$390,7152024

Highlighted filing

2018

Assets$150
Liabilities$2,250
Net Assets-$2,100
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0-$500K-$1.0MRevenue 2017: $0Expenses 2017: $2,100Net Income 2017: -$2,1002017Revenue 2018: $0Expenses 2018: $0Net Income 2018: $02018Revenue 2019: $0Expenses 2019: $0Net Income 2019: $02019Revenue 2020: $0Expenses 2020: $0Net Income 2020: $02020Revenue 2021: $0Expenses 2021: $0Net Income 2021: $02021Revenue 2022: $0Expenses 2022: $666,762Net Income 2022: -$666,7622022Revenue 2023: $521,635Expenses 2023: $205,182Net Income 2023: $316,4532023Revenue 2024: $524,510Expenses 2024: $562,816Net Income 2024: -$38,3062024

Highlighted filing

2018

Revenue$0
Expenses$0
Net Income$0
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 15, 2019
Return Version
2017v2.0
Gross Receipts
$0
Mission and Program Overview

Mission

The entity is looking to provide facility space for the related organization Cyber Village Academy.

To provide an educational facility for a tax exempt charter school to rent or lease for

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$150$150→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-2,100$-2,100→ $0
Total Assets$150$150→ $0
Liabilities
Other Liabilities$2,250$2,250→ $0
Total Liabilities$2,250$2,250→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$-2,100$-2,100→ $0
Total Liabilities and Net Assets / Fund Balance$150$150→ $0
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleOtherTotal
David GlickChairperson$102,079$102,079
Cassie LeppTreasurer$49,850$49,850

Board Members and Trustees

NameTitle
Robert KauferVice Chairperson
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$0
Other Expenses$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0
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
Due to Other Funds$2,250
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
No
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 8B

“There are no committees with the authority to act on behalf of the governing body.”

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

“The return is reviewed and signed by the School's Director prior to filing. The entire board does not review the 990 before filing.”

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

“The Board receives training and information from MDE and Dieci School Finance, LLC about required policies and procedures. Every year the board completes conflict of interest questionnaires and files them with Dieci School Finance, LLC.”

Form 990, Part VI, Section C, Line 19

“The organization makes its 990 information, governing documents, conflict of interest policy, and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
Virtual Properties
EIN
81-2781882
Phone
6515237170
Address
768 Hamline Avenue South, St Paul, MN 55116

Signing Officer

Name
Nicole Rasmussen
Title
Director
Phone
6515237170
Signed
2019-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nicole Rasmussen
Formed
2016
Legal Domicile
Mn
Voting Board Members
3
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
Robert Reese Procaccini CPA
Address
13928 Sunset Lake Drive, Burnsville, MN 55337
Preparer
Robert Procaccini
Phone
9529920995
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1

“Description of Organization Mission: educational purposes.”

Form 990, Part XI, Line 2

“Reviewed and approved by the board of directors before being issued.”

Financial Statement Notes

Schedule D, Part X, Line 2

“Part X, Line 2: The Organization is exempt from federal and state income taxes under Internal Revenue Service Code 501(c)(3). The Organization is subject to tax on income from any unrelated business. The Organization is subject to the 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 Organization has analyzed tax positions taken for filing with the Internal Revenue Service and state jurisdiction where they operate. The Organization believes 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 their respective financial condition, results of operations, or cash flows. Accordingly, the Organization has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at year-end. The Organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any open tax periods.”

Raw XML Appendix342 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/AnnualDisclosureCoveredPrsnInd01
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IRS990/BooksInCareOfDetail/PersonNm0Robert Procaccini
IRS990/BooksInCareOfDetail/PhoneNum09529920995
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt013928 Sunset Lake Drive
IRS990/BooksInCareOfDetail/USAddress/CityNm0Burnsville
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MN
IRS990/BooksInCareOfDetail/USAddress/ZIPCd055337
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt26279
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IRS990/Form990PartVIISectionAGrp/PersonNm1Robert Kaufer
IRS990/Form990PartVIISectionAGrp/PersonNm2Cassie Lepp
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt089116
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt243571
IRS990/Form990PartVIISectionAGrp/TitleTxt0Chairperson
IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice Chairperson
IRS990/Form990PartVIISectionAGrp/TitleTxt2Treasurer
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/FormationYr02016
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt00
IRS990/GainOrLossGrp/SecuritiesAmt00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt03
IRS990/GrantAmt00
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt00
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt01
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
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IRS990/InitialReturnInd0X
IRS990/InvestmentExpenseAmt00
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0MN
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0The entity is looking to provide facility space for the related organization Cyber Village Academy.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0-2100
IRS990/NetAssetsOrFundBalancesEOYAmt0-2100
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherLiabilitiesGrp/BOYAmt02250
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IRS990/OtherRevenueTotalAmt00
IRS990/PartialLiquidationInd00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0Nicole Rasmussen
IRS990/PriorPeriodAdjustmentsAmt00
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IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-2100
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IRS990/ReconcilationRevenueExpnssAmt00
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0-2100
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0-2100
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IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
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IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
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IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Part X, Line 2: The Organization is exempt from federal and state income taxes under Internal Revenue Service Code 501(c)(3). The Organization is subject to tax on income from any unrelated business. The Organization is subject to the 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 Organization has analyzed tax positions taken for filing with the Internal Revenue Service and state jurisdiction where they operate. The Organization believes 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 their respective financial condition, results of operations, or cash flows. Accordingly, the Organization has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at year-end. The Organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any open tax periods.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part X, Line 2
IRS990ScheduleD/TotalLiabilityAmt02250
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Description of Organization Mission: educational purposes.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1There are no committees with the authority to act on behalf of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The return is reviewed and signed by the School's Director prior to filing. The entire board does not review the 990 before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Board receives training and information from MDE and Dieci School Finance, LLC about required policies and procedures. Every year the board completes conflict of interest questionnaires and files them with Dieci School Finance, LLC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The organization makes its 990 information, governing documents, conflict of interest policy, and financial statements available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Reviewed and approved by the board of directors before being issued.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part I, Line 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XI, Line 2
IRS990ScheduleR/AssetExchangeInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Public Charter School
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0Line 2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0768 Hamline Avenue South
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IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt02250
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Due to related organization
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Cyber Village Academy
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0s
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IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-2100
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-2100
IRS990/TotalOtherCompensationAmt019242
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IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0150
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0150
IRS990/TotReportableCompRltdOrgAmt0132687
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0768 Hamline Avenue South
IRS990/USAddress/CityNm0St Paul
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055116
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0cva.k12.mn.us
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Nicole Rasmussen
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Director
ReturnHeader/BusinessOfficerGrp/PhoneNum06515237170
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VIRTUAL PROPERTIES
ReturnHeader/Filer/BusinessNameControlTxt0VIRT
ReturnHeader/Filer/EIN0812781882
ReturnHeader/Filer/PhoneNum06515237170
ReturnHeader/Filer/USAddress/AddressLine1Txt0768 Hamline Avenue South
ReturnHeader/Filer/USAddress/CityNm0St Paul
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055116
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0107.4.172.24
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Robert Reese Procaccini CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt013928 Sunset Lake Drive
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Burnsville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055337
ReturnHeader/PreparerPersonGrp/PhoneNum09529920995
ReturnHeader/PreparerPersonGrp/PreparationDt02019-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Robert Procaccini
ReturnHeader/ReturnTs02019-05-15T17:44:21-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

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.

Open filing
Assets
$150
Liabilities
$2,250
Net assets
-$2,100
Revenue
$0
Expenses
$0
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.00$7.39$0.39$0.52$0.56$0.04
2023Detailed filing. Detailed filing data is available for this year.$7.03$7.39$0.35$0.52$0.21$0.32
2022Detailed filing. Detailed filing data is available for this year.$6.70$7.37$0.67$0.00$0.67$0.67
2021Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
2019Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
2018Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
2017Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00