Civic Intelligence

Friends of Spero Academy

EIN 81-5382949 • 501(c)3 • Minneapolis, MN

Profile

The organization's primary exempt purpose is to purchase, own, construct or lease a public schoolhouse on real estate for lease to spero academy, a mn public charter school.

2701 California Street NEMinneapolis, MN 55418

www.spero.academy

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

96th percentile

1.13x

Higher debt load relative to assets than 96% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

10.86x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

70th percentile

16%

Higher net margin than 70% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

15th percentile

$0

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

33rd percentile

-0.1%

Faster asset growth than 33% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

44th percentile

4.4%

Faster revenue growth than 44% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$16,633,129

Down $10,866 (-0.1%) from 2022

Liabilities

Down

$18,993,562

Down $143,376 (-0.7%) from 2022

Net Assets

Up

-$2,360,433

Up $132,510 (+5.3%) from 2022

Operations
Liabilities / Revenue97th percentileNet Margin70th percentile

Revenue

Up

$1,648,771

Up $213,281 (+15%) from 2022

Expenses

Down

$1,516,261

Down $571,894 (-27%) from 2022

Net Income

Up

$132,510

Up $785,175 (+120%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth33rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0-$10MAssets 2017: $40,850Liabilities 2017: $40,850Net Assets 2017: $02017Assets 2018: $20,079,132Liabilities 2018: $21,699,458Net Assets 2018: -$1,620,3262018Assets 2019: $16,843,683Liabilities 2019: $18,514,913Net Assets 2019: -$1,671,2302019Assets 2020: $16,762,638Liabilities 2020: $18,514,888Net Assets 2020: -$1,752,2502020Assets 2021: $16,674,660Liabilities 2021: $18,514,938Net Assets 2021: -$1,840,2782021Assets 2022: $16,643,995Liabilities 2022: $19,136,938Net Assets 2022: -$2,492,9432022Assets 2023: $16,633,129Liabilities 2023: $18,993,562Net Assets 2023: -$2,360,4332023

Highlighted filing

2023

Assets$16,633,129
Liabilities$18,993,562
Net Assets-$2,360,433
Open 2023 Filing

Operations Trend

Revenue Growth44th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2017: $0Expenses 2017: $0Net Income 2017: $02017Revenue 2018: $92,961Expenses 2018: $1,713,287Net Income 2018: -$1,620,3262018Revenue 2019: $1,371,451Expenses 2019: $1,422,355Net Income 2019: -$50,9042019Revenue 2020: $1,325,426Expenses 2020: $1,406,446Net Income 2020: -$81,0202020Revenue 2021: $1,364,803Expenses 2021: $1,452,831Net Income 2021: -$88,0282021Revenue 2022: $1,435,490Expenses 2022: $2,088,155Net Income 2022: -$652,6652022Revenue 2023: $1,648,771Expenses 2023: $1,516,261Net Income 2023: $132,5102023

Highlighted filing

2023

Revenue$1,648,771
Expenses$1,516,261
Net Income$132,510
Open 2023 Filing

Filings

Most recent year

2023 • Form 990Summary only. Only limited summary data is available for this year.

Open filing
Assets
$16,633,129
Liabilities
$18,993,562
Net assets
-$2,360,433
Revenue
$1,648,771
Expenses
$1,516,261
Net income
$132,510
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$16.6$19.0$2.36$1.65$1.52$0.13
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.6$19.1$2.49$1.44$2.09$0.65
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.7$18.5$1.84$1.36$1.45$0.09
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.8$18.5$1.75$1.33$1.41$0.08
2019Summary only. Only limited summary data is available for this year.$16.8$18.5$1.67$1.37$1.42$0.05
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.1$21.7$1.62$0.09$1.71$1.62
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.04$0.04$0.00$0.00$0.00$0.00
Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 10, 2023
Return Version
2021v4.2
Gross Receipts
$1,435,490
Mission and Program Overview

Mission

The organization's primary exempt purpose is to purchase, own, construct or lease a public schoolhouse on real estate for lease to spero academy, a mn public charter school.

To purchase, own, construct or lease a public schoolhouse on real estate for lease to spero academy

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$13,631,090$13,422,044▼ $209,046
Cap Stk Tr Prin Current Funds$-2,056,050$6,559,229▲ $8,615,279
Savings and Temporary Cash Investments$3,043,570$3,220,463▲ $176,893
Prepaid Expenses and Deferred Charges-$1,488-
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$215,772$-9,052,172▼ $9,267,944
Total Assets$16,674,660$16,643,995▼ $30,665
Liabilities
Tax Exempt Bond Liabilities$17,295,000$17,295,000→ $0
Accounts Payable and Accrued Expenses-$1,254,813-
Mortgage Notes Payable Secured by Investment Property$650,000$580,000▼ $70,000
Other Liabilities$569,938$7,125▼ $562,813
Total Liabilities$18,514,938$19,136,938▲ $622,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$-1,840,278$-2,492,943▼ $652,665
Total Liabilities and Net Assets / Fund Balance$16,674,660$16,643,995▼ $30,665

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,744,818$982,344$12,727,162
Land$1,460,000-$1,460,000
Equipment$157,269$37,291$194,560
Other Land Buildings$59,957-$59,957
Compensation and Service Providers
Top Officer Pay15th percentile

Board Members and Trustees

NameTitle
Tony FarahChair
Kirk WahlstromSecretary
Chandra StoneTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,434,564
Investment Income
$926
Other Revenue
$0
Change in Net Assets
$-652,665

Audited Revenue Reconciliation

Revenue per Audited Statements
$926
Revenue Not Reported on Financial Statements
$1,434,564
Revenue Not Reported on Form 990
$9,966,203
Other Revenue Adjustments
$1,434,564
Total Revenue per Audited Statements
$9,967,129
Total Revenue per Form 990
$1,435,490
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,088,155
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$1,762,293--$1,762,293
Depreciation Depletion$269,003--$269,003
Fees for Services Other$47,121--$47,121
Fees for Services Accounting$8,250--$8,250
Occupancy$1,488--$1,488
Total Functional Expenses$2,088,155$0$0$2,088,155

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$12,258,025
Expenses Not Reported on Form 990$10,169,870
Expenses per Audited Statements$2,088,155
Total Expenses per Form 990$2,088,155
Expenses Not Reported on Financial Statements$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 Spero Academy$7,125

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of Minneapolis2017-08-03$17,295,000Purchase land and build schoolhouse

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$17,295,000$334,017-$345,900

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The sole member of the organization is spero academy.”

Form 990, Part VI, Section A, Line 7A

“The sole member has the power to remove or appoint directors of the organization.”

Form 990, Part VI, Section A, Line 7B

“The articles of incorporation shall not be amended without the written consent of the sole member. Subject to the right of the sole member to adopt, amend and repeal the bylaws as set forth in minnesota statutes, section 317a.181, subd. 2(b), the power to adopt, amend or repeal the bylaws is vested in the board of directors.”

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

“The spero academy finance committee reviews the form 990, while in preparation, and then presents the public disclosure form 990 to the board of directors for review and approval, prior to submission.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Friends of Spero Academy
EIN
81-5382949
Phone
6124658600
Address
2701 CALIFORNIA STREET NE, MINNEAPOLIS, MN 55418

Signing Officer

Name
Tony Farah
Title
Board Chair
Phone
6124658600
Signed
2023-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tony Farah
Formed
2016
Legal Domicile
Mn
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Bergankdv Ltd
Address
12100 MEREDITH DR SUITE 200, URBANDALE, IA 50323
Preparer
Kathleen New CPA
Phone
5157275700
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The board is responsible for selection of an independent accountant and for the oversight of the finanical statement audit. This process has not changed from prior year.”

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Spero academy revenues 9,961,887. Gasb 68 4,316.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Building company rent 1,434,564.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Spero academy expenses less rent 8,447,498. Friends of spero academy ii expenses 1,448,692. Gasb 68 273,680.”

Raw XML AppendixShowing 400 of 455 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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IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/TimelyProvidedDocumentsInd01
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0FRIENDS OF SPERO ACADEMY MAINTAINS A CLOSE AND CONTINUOUS WORKING RELATIONSHIP WITH THE SUPPORTED ORGANIZATION (SPERO ACADEMY) THROUGH REGULAR DISCUSSIONS AND INTERACTIONS BETWEEN THE CHAIR OF FRIENDS OF SPERO ACADEMY AND THE CHAIR AND TREASURER OF SPERO ACADEMY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1FRIENDS OF SPERO ACADEMY IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND/OR TO CARRY OUT THE PURPOSES OF SPERO ACADEMY, AN MINNESOTA NON-PROFIT CORPORATION. FRIENDS OF SPERO ACADEMY PURCHASED REAL ESTATE OCCUPIED BY SPERO ACADEMY USED FOR THE PURPOSE OF PROVIDING EDUCATIONAL INSTRUCTION IN SUPPORT OF SPERO ACADEMY'S MISSION. FRIENDS OF SPERO ACADEMY INTENTS TO ENGAGE IN NO OTHER ACTIVITIES, AND THE OWNERSHIP OF REAL ESTATE BY FRIENDS OF SPERO ACADEMY DIRECTLY FURTHERS SPERO ACADEMY'S EXEMPT PURPOSES IN THAT REAL ESTATE IS REQUIRED TO HOUSE AND DELIVER EDUCATION TO SPERO'S STUDENTS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2SPERO ACADEMY HAS THE ABILITY TO PROVIDE AND EDUCATIONAL FACILITY. HOWEVER, THEY ARE NOT ALLOWED TO OWN THE FACILITIY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SECTION D, LINE 2:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1SECTION E, LINE 2A:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2PART IV, SECTION E, LINE 2B:
IRS990ScheduleA/IRSWrittenDeterminationInd0X
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0200309518
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd02
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0SPERO ACADEMY
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3FuncIntInd0X
IRS990ScheduleA/SupportSumAmt00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt011744818
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0982344
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt012727162
IRS990ScheduleD/EquipmentGrp/BookValueAmt0157269
IRS990ScheduleD/EquipmentGrp/DepreciationAmt037291
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0194560
IRS990ScheduleD/ExpensesNotReportedAmt010169870
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt02088155
IRS990ScheduleD/LandGrp/BookValueAmt01460000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01460000
IRS990ScheduleD/OtherExpensesIncludedAmt010169870
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt059957
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt059957
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt07125
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO SPERO ACADEMY
IRS990ScheduleD/OtherRevenueAmt09966203
IRS990ScheduleD/OtherRevenuesNotIncludedAmt01434564
IRS990ScheduleD/RevenueNotReportedAmt09966203
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt01434564
IRS990ScheduleD/RevenueSubtotalAmt0926
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SPERO ACADEMY REVENUES 9,961,887. GASB 68 4,316.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1BUILDING COMPANY RENT 1,434,564.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2SPERO ACADEMY EXPENSES LESS RENT 8,447,498. FRIENDS OF SPERO ACADEMY II EXPENSES 1,448,692. GASB 68 273,680.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt013422044
IRS990ScheduleD/TotalExpensesPerForm990Amt02088155
IRS990ScheduleD/TotalLiabilityAmt07125
IRS990ScheduleD/TotalRevenuePerForm990Amt01435490
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt09967129
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt012258025
IRS990/ScheduleJRequiredInd00
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd01
IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0ISSUER NAME: CITY OF MINNEAPOLIS DATE THE REBATE COMPUTATION WAS PERFORMED: 07/18/2022
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0DATE REBATE COMPUTATION PERFORMED
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd01
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02017-08-03
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0416005375
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum060375CAQ7
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt017295000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0CITY OF MINNEAPOLIS
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0PURCHASE LAND AND BUILD SCHOOLHOUSE
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt014218300
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalizedInterestAmt01000847
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt01395936
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0345900
IRS990ScheduleK/TaxExemptBondsProceedsGrp/OtherSpentProceedsAmt0334017
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr02018
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt017295000
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SOLE MEMBER OF THE ORGANIZATION IS SPERO ACADEMY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SOLE MEMBER HAS THE POWER TO REMOVE OR APPOINT DIRECTORS OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ARTICLES OF INCORPORATION SHALL NOT BE AMENDED WITHOUT THE WRITTEN CONSENT OF THE SOLE MEMBER. SUBJECT TO THE RIGHT OF THE SOLE MEMBER TO ADOPT, AMEND AND REPEAL THE BYLAWS AS SET FORTH IN MINNESOTA STATUTES, SECTION 317A.181, SUBD. 2(B), THE POWER TO ADOPT, AMEND OR REPEAL THE BYLAWS IS VESTED IN THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE SPERO ACADEMY FINANCE COMMITTEE REVIEWS THE FORM 990, WHILE IN PREPARATION, AND THEN PRESENTS THE PUBLIC DISCLOSURE FORM 990 TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL, PRIOR TO SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD IS RESPONSIBLE FOR SELECTION OF AN INDEPENDENT ACCOUNTANT AND FOR THE OVERSIGHT OF THE FINANICAL STATEMENT AUDIT. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd11
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0SPERO ACADEMY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0SPERO ACADEMY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1FRIENDS OF SPERO ACADEMY II
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0200309518
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1851076979
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1LEASE BUILDING TO SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt1LINE 12A, I
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt02701 CALIFORNIA STREET NE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt12701 CALIFORNIA STREET NE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0MINNEAPOLIS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1MINNEAPOLIS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd055418
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd155418
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt017295000
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt017295000
IRS990/TaxExemptBondsInd01
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt016674660
IRS990/TotalAssetsEOYAmt016643995
IRS990/TotalAssetsGrp/BOYAmt016674660
IRS990/TotalAssetsGrp/EOYAmt016643995
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02088155
IRS990/TotalFunctionalExpensesGrp/TotalAmt02088155
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt018514938
IRS990/TotalLiabilitiesEOYAmt019136938
IRS990/TotalLiabilitiesGrp/BOYAmt018514938
IRS990/TotalLiabilitiesGrp/EOYAmt019136938
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1840278
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-2492943
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt02088155

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