Civic Intelligence

Global Academy Abc

990 • Fiscal year 2019 • EIN 82-1729488

Jul 01, 2018 to Jun 30, 2019 • Filed on Apr 07, 2020

Organization ProfileWWW.GLOBALACADEMY.US
3000 5th Street NWNew Brighton, MN 55112

(763) 404-8200

Siviq Scores

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

Liabilities / Assets

94th percentile

1.06x

Higher debt load relative to assets than 94% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

100th percentile

303.49x

Higher debt load relative to revenue than 100% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

1st percentile

-1618%

Higher net margin than 1% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

13th percentile

$0

Higher top officer pay than 13% of similar nonprofits.

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

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Balance Sheet
Liabilities / Assets94th percentile

Assets

$12,392,724

No earlier filing loaded for comparison.

Net Assets

-$741,127

No earlier filing loaded for comparison.

Liabilities

$13,133,851

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

$43,276

No earlier filing loaded for comparison.

Expenses

$743,359

No earlier filing loaded for comparison.

Net Income

-$700,083

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$20M$15M$10M$5.0M$0-$5.0MAssets 2019: $12,392,724Liabilities 2019: $13,133,851Net Assets 2019: -$741,1272019Assets 2020: $10,634,144Liabilities 2020: $11,249,609Net Assets 2020: -$615,4652020Assets 2021: $10,550,293Liabilities 2021: $11,017,563Net Assets 2021: -$467,2702021Assets 2022: $14,446,162Liabilities 2022: $15,337,426Net Assets 2022: -$891,2642022Assets 2023: $15,027,639Liabilities 2023: $15,690,672Net Assets 2023: -$663,0332023Assets 2024: $14,382,432Liabilities 2024: $14,899,196Net Assets 2024: -$516,7642024

Highlighted filing

2019

Assets$12,392,724
Liabilities$13,133,851
Net Assets-$741,127
Open 2019 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.5M$1.0M$500K$0-$500K-$1.0MRevenue 2019: $43,276Expenses 2019: $743,359Net Income 2019: -$700,0832019Revenue 2020: $780,238Expenses 2020: $674,996Net Income 2020: $105,2422020Revenue 2021: $780,008Expenses 2021: $630,941Net Income 2021: $149,0672021Revenue 2022: $780,011Expenses 2022: $1,204,005Net Income 2022: -$423,9942022Revenue 2023: $868,676Expenses 2023: $757,506Net Income 2023: $111,1702023Revenue 2024: $897,325Expenses 2024: $751,056Net Income 2024: $146,2692024

Highlighted filing

2019

Revenue$43,276
Expenses$743,359
Net Income-$700,083
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Apr 7, 2020
Return Version
2018v3.1
Gross Receipts
$43,276
Mission and Program Overview

Mission

The organization's primary exempt purpose is to acquire and renovate property and lease to its supporting organization, global academy, a minnesota public charter school.

To acquire and renovate property and lease to global academy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$0$9,852,417▲ $9,852,417
Savings and Temporary Cash Investments-$2,540,307-
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$0$-216,047▼ $216,047
Pd in Cap Srpls Land Bldg Eqp Fund$0$-525,080▼ $525,080
Total Assets$0$12,392,724▲ $12,392,724
Liabilities
Mortgage Notes Payable Secured by Investment Property-$11,000,000-
Accounts Payable and Accrued Expenses-$2,064,504-
Other Liabilities$0$69,347▲ $69,347
Total Liabilities$0$13,133,851▲ $13,133,851
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$-741,127▼ $741,127
Total Liabilities and Net Assets / Fund Balance$0$12,392,724▲ $12,392,724

Asset Categories

AssetBook ValueDepreciationBasis
Land$6,091,439-$6,091,439
Other Land Buildings$3,735,842-$3,735,842
Equipment$13,186$822$14,008
Buildings$11,950$50$12,000
Compensation and Service Providers
Top Officer Pay13th percentile

Board Members and Trustees

NameTitle
Carl PhillipsBoard Chair
Hala AsamaraiSecretary
Elizabeth SlocumTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$1,887
Other Revenue
$41,389
Change in Net Assets
$-700,083

Audited Revenue Reconciliation

Revenue per Audited Statements
$43,276
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$18,151,633
Total Revenue per Audited Statements
$18,194,909
Total Revenue per Form 990
$43,276
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$743,359
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$452,195--$452,195
Fees for Services Other$26,002--$26,002
Insurance$23,270--$23,270
Occupancy$5,750--$5,750
Other Expenses$1,850--$1,850
Depreciation Depletion$872--$872
Office Expenses$222--$222
Total Functional Expenses$743,359$0$0$743,359

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$17,372,557
Expenses Not Reported on Form 990$16,636,322
Total Expenses per Form 990$743,359
Expenses per Audited Statements$736,235
Expenses Not Reported on Financial Statements$7,124
Other Expense Adjustments$7,124
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 Global Academy$63,095
Accrued Interest$6,252
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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 global academy, inc.”

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.”

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

“The form 990 is prepared by the school accountant and disseminated to the full board after it is filed.”

Form 990, Part VI, Section C, Line 19

“The school makes all of its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Global Academy Abc
EIN
82-1729488
Phone
7634048200
Address
3000 5TH STREET NW, NEW BRIGHTON, MN 55112

Signing Officer

Name
Helen Fisk
Title
School Director
Phone
7634048200
Signed
2020-04-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carl Phillips
Formed
2017
Legal Domicile
Mn
Voting Board Members
0
Independent Board Members
0
Employees
0
Volunteers
3

Preparer

Firm
Bergankdv Ltd
Address
3800 AMERICAN BLVD WEST SUITE 1000, MINNEAPOLIS, MN 55431-4420
Preparer
Theresa Goette
Phone
9525636800
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Beginning net assets -41,044.”

Financial Statement Notes

PART X, LINE 2:

“Management believes that it is not reasonable possible for any tax position benefits to increase or decrease significantly over the next 12 months. As of june 30, 2019, there were no income tax accrued interest or penalties recognized in either the statement of financial position or the statement of activities. The school files informational returns in the u.s. Federal jurisdiction, and in the minnesota state jurisdiction. U.s. Federal returns and minnesota returns for the prior three fiscal years are closed. No returns are currently under examination in any tax jurisdiction.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Global academy revenues 7,151,633. Loan proceeds 11,000,000.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Global academy expenditures 6,883,033. Capitalized building and equipment 9,753,289.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Depreciation expense 872. Change in accrued interest payable 6,252.”

Raw XML Appendix376 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT BELIEVES THAT IT IS NOT REASONABLE POSSIBLE FOR ANY TAX POSITION BENEFITS TO INCREASE OR DECREASE SIGNIFICANTLY OVER THE NEXT 12 MONTHS. AS OF JUNE 30, 2019, THERE WERE NO INCOME TAX ACCRUED INTEREST OR PENALTIES RECOGNIZED IN EITHER THE STATEMENT OF FINANCIAL POSITION OR THE STATEMENT OF ACTIVITIES. THE SCHOOL FILES INFORMATIONAL RETURNS IN THE U.S. FEDERAL JURISDICTION, AND IN THE MINNESOTA STATE JURISDICTION. U.S. FEDERAL RETURNS AND MINNESOTA RETURNS FOR THE PRIOR THREE FISCAL YEARS ARE CLOSED. NO RETURNS ARE CURRENTLY UNDER EXAMINATION IN ANY TAX JURISDICTION.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1GLOBAL ACADEMY REVENUES 7,151,633. LOAN PROCEEDS 11,000,000.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2GLOBAL ACADEMY EXPENDITURES 6,883,033. CAPITALIZED BUILDING AND EQUIPMENT 9,753,289.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3DEPRECIATION EXPENSE 872. CHANGE IN ACCRUED INTEREST PAYABLE 6,252.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII, LINE 4B - OTHER ADJUSTMENTS:
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IRS990ScheduleD/TotalLiabilityAmt069347
IRS990ScheduleD/TotalRevenuePerForm990Amt043276
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt017372557
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SOLE MEMBER OF THE ORGANIZATION IS GLOBAL ACADEMY, INC.
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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS PREPARED BY THE SCHOOL ACCOUNTANT AND DISSEMINATED TO THE FULL BOARD AFTER IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE SCHOOL MAKES ALL OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BEGINNING NET ASSETS -41,044.
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 XI, LINE 9:
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IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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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
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt012392724
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt012392724
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0743359
IRS990/TotalFunctionalExpensesGrp/TotalAmt0743359
IRS990/TotalGrossUBIAmt00
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt041389
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt043276
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
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IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02020-09-22 18:59:49Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0HELEN FISK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SCHOOL DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07634048200
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-04-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GLOBAL ACADEMY ABC
ReturnHeader/Filer/BusinessNameControlTxt0GLOB
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ReturnHeader/Filer/PhoneNum07634048200
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ReturnHeader/FilingSecurityInformation/IPTm009:37:13
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411431613
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BERGANKDV LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03800 AMERICAN BLVD WEST SUITE 1000
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MINNEAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0554314420
ReturnHeader/PreparerPersonGrp/PhoneNum09525636800
ReturnHeader/PreparerPersonGrp/PreparationDt02020-04-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0THERESA GOETTE
ReturnHeader/ReturnTs02020-04-30T10:43:16-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$12,392,724
Liabilities
$13,133,851
Net assets
-$741,127
Revenue
$43,276
Expenses
$743,359
Net income
-$700,083
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.4$14.9$0.52$0.90$0.75$0.15
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.0$15.7$0.66$0.87$0.76$0.11
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.4$15.3$0.89$0.78$1.20$0.42
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.6$11.0$0.47$0.78$0.63$0.15
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.6$11.2$0.62$0.78$0.67$0.11
2019Detailed filing. Detailed filing data is available for this year.$12.4$13.1$0.74$0.04$0.74$0.70