Civic Intelligence

Global Academy Abc

990 • Fiscal year 2023 • EIN 82-1729488

Jul 01, 2022 to Jun 30, 2023 • Filed on May 14, 2024

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

95th percentile

1.04x

Higher debt load relative to assets than 95% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

98th percentile

18.06x

Higher debt load relative to revenue than 98% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

67th percentile

13%

Higher net margin than 67% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

43rd percentile

4.0%

Faster asset growth than 43% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

61st percentile

11%

Faster revenue growth than 61% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets95th percentile

Assets

Up

$15,027,639

Up $581,477 (+4.0%) from 2022

Net Assets

Up

-$663,033

Up $228,231 (+26%) from 2022

Liabilities

Up

$15,690,672

Up $353,246 (+2.3%) from 2022

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin67th percentile

Revenue

Up

$868,676

Up $88,665 (+11%) from 2022

Expenses

Down

$757,506

Down $446,499 (-37%) from 2022

Net Income

Up

$111,170

Up $535,164 (+126%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

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

2023

Assets$15,027,639
Liabilities$15,690,672
Net Assets-$663,033
Open 2023 Filing

Operations Trend

Revenue Growth61st percentile

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

2023

Revenue$868,676
Expenses$757,506
Net Income$111,170
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 14, 2024
Return Version
2022v5.0
Gross Receipts
$868,676
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.

Lease building to global academy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$10,672,941$12,990,771▲ $2,317,830
Savings and Temporary Cash Investments$3,618,210$1,881,993▼ $1,736,217
Cash and Non-Interest-Bearing Accounts$155,011$154,875▼ $136
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$-516,434$-193,157▲ $323,277
Cap Stk Tr Prin Current Funds$-374,830$-469,876▼ $95,046
Total Assets$14,446,162$15,027,639▲ $581,477
Liabilities
Tax Exempt Bond Liabilities$14,332,585$14,766,480▲ $433,895
Other Liabilities$212,217$529,308▲ $317,091
Mortgage Notes Payable Secured by Investment Property$475,000--
Accounts Payable and Accrued Expenses$317,624$394,884▲ $77,260
Total Liabilities$15,337,426$15,690,672▲ $353,246
Net Assets / Fund Balance
Total Net Assets Fund Balance$-891,264$-663,033▲ $228,231
Total Liabilities and Net Assets / Fund Balance$14,446,162$15,027,639▲ $581,477

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,982,426$391,907$7,374,333
Land$5,991,439-$5,991,439
Equipment$16,906$9,102$26,008
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Hala AsamaraiBoard Chair
Elizabeth SlocumSecretary
Carl PhillipsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$786,066
Investment Income
$82,610
Other Revenue
$0
Change in Net Assets
$111,170
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$757,506
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$580,971--$580,971
Depreciation Depletion$106,726--$106,726
Fees for Services Other$24,231--$24,231
Insurance$20,813--$20,813
Other Expenses$12,765--$12,765
Fees for Services Accounting$12,000--$12,000
Total Functional Expenses$757,506$0$0$757,506
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
Accrued Interest$267,013
Due to Global Academy$262,295

Bond Issues

BondIssuerIssuedIssue PricePurpose
CCity of Independence Minnesota2021-10-05$5,389,439REFUNDING AND GYMNASIUM
BCity of Independence Minnesota2021-10-05$3,644,817REFUNDING AND GYMNASIUM
DCity of Independence Minnesota2021-10-05$3,600,368REFUNDING AND GYMNASIUM
ACity of Independence Minnesota2021-10-05$1,739,066REFUNDING AND GYMNASIUM

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
C$5,316,681--$23,481
B$3,595,611--$15,880
D$3,551,762--$15,686
A$1,715,589--$7,577

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
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 for the same period of disclosure as set forth in section 6104(d).”

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
Carl Phillips
Title
Treasurer
Phone
7634048200
Signed
2024-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Hala Asamarai
Formed
2017
Legal Domicile
Mn
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Creative Planning Tax LLC
Address
12100 MEREDITH DR SUITE 200, URBANDALE, IA 50323
Preparer
Brian Aronson CPA
Phone
5157275700
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The school is exempt from income taxes under section 501(c)(3) of the internal revenue code. The school also qualifies as a tax-exempt organization under applicable statutes of the state of minnesota. 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, 2022, 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.”

Raw XML AppendixShowing 400 of 537 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt0317624
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0394884
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0LEASE BUILDING TO GLOBAL ACADEMY.
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0CREATIVE PLANNING
IRS990/BooksInCareOfDetail/PhoneNum08662732848
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt03800 AMERICAN BLVD W 1000
IRS990/BooksInCareOfDetail/USAddress/CityNm0BLOOMINGTON
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MN
IRS990/BooksInCareOfDetail/USAddress/ZIPCd055431
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt0-374830
IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt0-469876
IRS990/CashNonInterestBearingGrp/BOYAmt0155011
IRS990/CashNonInterestBearingGrp/EOYAmt0154875
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd00
IRS990/CompensationProcessOtherInd00
IRS990/ConflictOfInterestPolicyInd00
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd01
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt082610
IRS990/CYOtherExpensesAmt0757506
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt0786066
IRS990/CYRevenuesLessExpensesAmt0111170
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt0757506
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0868676
IRS990/DecisionsSubjectToApprovaInd01
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/ProgramServicesAmt0106726
IRS990/DepreciationDepletionGrp/TotalAmt0106726
IRS990/Desc0OWN AND LEASE BUILDING TO GLOBAL ACADEMY, A MINNESOTA PUBLIC CHARTER SCHOOL.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd00
IRS990/DonorAdvisedFundInd00
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd01
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd00
IRS990/EscrowAccountInd00
IRS990/ExpenseAmt0757506
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ProgramServicesAmt012000
IRS990/FeesForServicesAccountingGrp/TotalAmt012000
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt024231
IRS990/FeesForServicesOtherGrp/TotalAmt024231
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt02.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt12.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt22.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/PersonNm0CARL PHILLIPS
IRS990/Form990PartVIISectionAGrp/PersonNm1HALA ASAMARAI
IRS990/Form990PartVIISectionAGrp/PersonNm2ELIZABETH SLOCUM
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/TitleTxt0TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/FormationYr02017
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt03
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0868676
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt03
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/ProgramServicesAmt020813
IRS990/InsuranceGrp/TotalAmt020813
IRS990/InterestGrp/ProgramServicesAmt0580971
IRS990/InterestGrp/TotalAmt0580971
IRS990/InvestmentIncomeGrp/ExclusionAmt082610
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt082610
IRS990/InvestmentInJointVentureInd00
IRS990/InvestTaxExemptBondsInd00
IRS990/IRPDocumentCnt03
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0401009
IRS990/LandBldgEquipBasisNetGrp/BOYAmt010672941
IRS990/LandBldgEquipBasisNetGrp/EOYAmt012990771
IRS990/LandBldgEquipCostOrOtherBssAmt013391780
IRS990/LegalDomicileStateCd0MN
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO ACQUIRE AND RENOVATE PROPERTY AND LEASE TO ITS SUPPORTING ORGANIZATION, GLOBAL ACADEMY, A MINNESOTA PUBLIC CHARTER SCHOOL.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0475000
IRS990/NetAssetsOrFundBalancesBOYAmt0-891264
IRS990/NetAssetsOrFundBalancesEOYAmt0-663033
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OnBehalfOfIssuerInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0REPAIRS & MAINTENANCE
IRS990/OtherExpensesGrp/ProgramServicesAmt012765
IRS990/OtherExpensesGrp/TotalAmt012765
IRS990/OtherLiabilitiesGrp/BOYAmt0212217
IRS990/OtherLiabilitiesGrp/EOYAmt0529308
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt0-516434
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt0-193157
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0HALA ASAMARAI
IRS990/PriorPeriodAdjustmentsAmt0117061
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531190
IRS990/ProgramServiceRevenueGrp/Desc0RENT
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0786066
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0786066
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0648
IRS990/PYOtherExpensesAmt01204005
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0779363
IRS990/PYRevenuesLessExpensesAmt0-423994
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt01204005
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0780011
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0111170
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0786066
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt03618210
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01881993
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/IRSWrittenDeterminationInd0X
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0300417217
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd02
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0GLOBAL ACADEMY
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt06982426
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0391907
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt07374333
IRS990ScheduleD/EquipmentGrp/BookValueAmt016906
IRS990ScheduleD/EquipmentGrp/DepreciationAmt09102
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt026008
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt05991439
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt05991439
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0262295
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1267013
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO GLOBAL ACADEMY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED INTEREST
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE SCHOOL ALSO QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER APPLICABLE STATUTES OF THE STATE OF MINNESOTA. 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, 2022, 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/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt012990771
IRS990ScheduleD/TotalLiabilityAmt0529308
IRS990/ScheduleJRequiredInd00
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd1B
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd2C
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd3D
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd00
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd10
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd20
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd30
IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0THE DIFFERENCE IN THE ISSUE PRICE AND FORM 8038 IS DUE TO UNDERWRITIER'S COSTS.
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE K, PART I COLUMN (E)
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd1B
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd2C
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd3D
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd20
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd30
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd20
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd30
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd20
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd30
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd20
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd30
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd20
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd30
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd11
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd21
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd31
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd20
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd30
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd20
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd30
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd20
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd30
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02021-10-05
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt12021-10-05
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt22021-10-05
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt32021-10-05
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0410958873
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN1410958873
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN2410958873
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN3410958873
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd1B
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd2C
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd3D
IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum045362RAJ6
IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum145362RAK3
IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum245362RAL1
IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum345362RAM9
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd10
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd20
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd30
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt01739066
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt13644817
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt25389439
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt33600368
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0CITY OF INDEPENDENCE MINNESOTA
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt1CITY OF INDEPENDENCE MINNESOTA
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt2CITY OF INDEPENDENCE MINNESOTA
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt3CITY OF INDEPENDENCE MINNESOTA
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd10
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd20
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd30
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd10
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd20
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd30
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0REFUNDING AND GYMNASIUM
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc1REFUNDING AND GYMNASIUM
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc2REFUNDING AND GYMNASIUM
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc3REFUNDING AND GYMNASIUM
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd20
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd30
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd20
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd30
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd20
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd30
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd1B
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd2C
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd3D
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd20
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd30
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd20
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd30
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd10
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd20
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd30
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd01
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd11
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd21
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd31
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd11
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd21
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd31
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd1B
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd2C
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd3D
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt0339630
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt1711812
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt21052527
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt3703132
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd11
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd21
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd31
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt085241
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt1178651
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt2264164
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt3176472
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt07577
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt115880
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt223481
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt315686
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingEscrowAmt01283142
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingEscrowAmt12689269
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingEscrowAmt23976510
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingEscrowAmt32656473
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd11
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd21
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd31

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$15,027,639
Liabilities
$15,690,672
Net assets
-$663,033
Revenue
$868,676
Expenses
$757,506
Net income
$111,170
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
2023Detailed filing. Detailed filing data is available for this year.$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
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.4$13.1$0.74$0.04$0.74$0.70