Civic Intelligence

Global Academy Abc

990 • Fiscal year 2020 • EIN 82-1729488

Jul 01, 2019 to Jun 30, 2020 • Filed on May 04, 2021

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.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

97th percentile

14.42x

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

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

69th percentile

13%

Higher net margin than 69% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

4th percentile

-14%

Faster asset growth than 4% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

100th percentile

1703%

Faster revenue growth than 100% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Assets

Down

$10,634,144

Down $1,758,580 (-14%) from 2019

Net Assets

Up

-$615,465

Up $125,662 (+17%) from 2019

Liabilities

Down

$11,249,609

Down $1,884,242 (-14%) from 2019

Revenue

Up

$780,238

Up $736,962 (+1703%) from 2019

Expenses

Down

$674,996

Down $68,363 (-9.2%) from 2019

Net Income

Up

$105,242

Up $805,325 (+115%) from 2019

Historical Trend

Balance Sheet Trend

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

2020

Assets$10,634,144
Liabilities$11,249,609
Net Assets-$615,465

Operations Trend

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

2020

Revenue$780,238
Expenses$674,996
Net Income$105,242
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 4, 2021
Return Version
2019v5.2
Gross Receipts
$780,238
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$9,852,417$10,571,425▲ $719,008
Savings and Temporary Cash Investments$2,540,307--
Cash and Non-Interest-Bearing Accounts-$62,719-
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$-216,047$-96,677▲ $119,370
Pd in Cap Srpls Land Bldg Eqp Fund$-525,080$-518,788▲ $6,292
Total Assets$12,392,724$10,634,144▼ $1,758,580
Liabilities
Mortgage Notes Payable Secured by Investment Property$11,000,000$11,090,213▲ $90,213
Accounts Payable and Accrued Expenses$2,064,504--
Other Liabilities$69,347$159,396▲ $90,049
Total Liabilities$13,133,851$11,249,609▼ $1,884,242
Net Assets / Fund Balance
Total Net Assets Fund Balance$-741,127$-615,465▲ $125,662
Total Liabilities and Net Assets / Fund Balance$12,392,724$10,634,144▼ $1,758,580

Asset Categories

AssetBook ValueDepreciationBasis
Land$5,991,439-$5,991,439
Buildings$4,556,154$95,330$4,651,484
Equipment$23,832$2,176$26,008
Compensation and Service Providers

Board Members and Trustees

NameTitle
Carl PhillipsBoard Chair
Hala AsamaraiSecretary
Elizabeth SlocumTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Rjm ConstructionConstruction830 BOONE AVE N, Golden Valley, MN 55427$876,455
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$780,000
Investment Income
$238
Other Revenue
$0
Change in Net Assets
$105,242

Audited Revenue Reconciliation

Revenue per Audited Statements
$780,238
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$7,490,080
Total Revenue per Audited Statements
$8,270,318
Total Revenue per Form 990
$780,238
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$674,996
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$526,972--$526,972
Depreciation Depletion$97,506--$97,506
Insurance$20,509--$20,509
Other Expenses$17,965--$17,965
Fees for Services Accounting-$11,970-$11,970
Fees for Services Other-$74-$74
Total Functional Expenses$662,952$12,044$0$674,996

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$8,254,043
Expenses Not Reported on Form 990$7,579,047
Expenses per Audited Statements$674,996
Total Expenses per Form 990$674,996
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 Global Academy$146,125
Accrued Interest$13,271
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 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
2021-05-04
Discuss with paid preparer
Yes

Organization Details

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

Preparer

Firm
Bergankdv Ltd
Address
3800 AMERICAN BLVD WEST SUITE 1000, MINNEAPOLIS, MN 55431-4420
Preparer
Nickolas S Taintor CPA
Phone
9525636800
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Audit adjustments 145,556.

Form 990, Part XII, Line 2C

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

Financial Statement Notes

PART X, LINE 2:

Management believes that it is not reasonably possible for any tax position benefits to increase or decrease significantly over the next 12 months. As of june 30, 2020, 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 7,472,048. Pensions 18,032.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Global academy expenditures 7,387,214. Pensions 337,389. Audit adjustments -145,556.

Raw XML Appendix387 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 REASONABLY POSSIBLE FOR ANY TAX POSITION BENEFITS TO INCREASE OR DECREASE SIGNIFICANTLY OVER THE NEXT 12 MONTHS. AS OF JUNE 30, 2020, 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 7,472,048. PENSIONS 18,032.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2GLOBAL ACADEMY EXPENDITURES 7,387,214. PENSIONS 337,389. AUDIT ADJUSTMENTS -145,556.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
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IRS990ScheduleD/TotalLiabilityAmt0159396
IRS990ScheduleD/TotalRevenuePerForm990Amt0780238
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt08270318
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt08254043
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/ExplanationTxt5AUDIT ADJUSTMENTS 145,556.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE BOARD IS RESPONSIBLE FOR SELECTION OF AN INDEPENDENT ACCOUNTANT AND FOR THE OVERSIGHT OF THE FINANCIAL 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 XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0GLOBAL ACADEMY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0300417217
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt03000 5TH STREET NW
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0NEW BRIGHTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd055112
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/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt012392724
IRS990/TotalAssetsEOYAmt010634144
IRS990/TotalAssetsGrp/BOYAmt012392724
IRS990/TotalAssetsGrp/EOYAmt010634144
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt012044
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0662952
IRS990/TotalFunctionalExpensesGrp/TotalAmt0674996
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt013133851
IRS990/TotalLiabilitiesEOYAmt011249609
IRS990/TotalLiabilitiesGrp/BOYAmt013133851
IRS990/TotalLiabilitiesGrp/EOYAmt011249609
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-741127
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-615465
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0662952
IRS990/TotalProgramServiceRevenueAmt0780000
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0238
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0780000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0780238
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt012392724
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt010634144
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03000 5TH STREET NW
IRS990/USAddress/CityNm0NEW BRIGHTON
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055112
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.GLOBALACADEMY.US
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0HELEN FISK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SCHOOL DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07634048200
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GLOBAL ACADEMY ABC
ReturnHeader/Filer/BusinessNameControlTxt0GLOB
ReturnHeader/Filer/EIN0821729488
ReturnHeader/Filer/PhoneNum07634048200
ReturnHeader/Filer/USAddress/AddressLine1Txt03000 5TH STREET NW
ReturnHeader/Filer/USAddress/CityNm0NEW BRIGHTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055112
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/PreparationDt02021-05-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0NICKOLAS S TAINTOR CPA
ReturnHeader/ReturnTs02021-05-10T17:05:27-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

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