Civic Intelligence

Kipp Minnesota Abc

990 • Fiscal year 2023 • EIN 82-2757664

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

Organization ProfileWWW.KIPPMINNESOTA.ORG
5034 Oliver Avenue NorthMinneapolis, MN 55430

(612) 287-9700

Siviq Scores

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

Liabilities / Assets

95th percentile

1.07x

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

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

Liabilities / Revenue

97th percentile

13.06x

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

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

Net Margin

28th percentile

-3.7%

Higher net margin than 28% 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

27th percentile

-0.7%

Faster asset growth than 27% of similar nonprofits.

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

Revenue Growth

52nd percentile

6.5%

Faster revenue growth than 52% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$11,568,969

Down $78,828 (-0.7%) from 2022

Net Assets

Down

-$846,333

Down $34,701 (-4.3%) from 2022

Liabilities

Down

$12,415,302

Down $44,127 (-0.4%) from 2022

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin28th percentile

Revenue

Up

$950,482

Up $57,670 (+6.5%) from 2022

Expenses

Up

$985,183

Up $35,269 (+3.7%) from 2022

Net Income

Up

-$34,701

Up $22,401 (+39%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth27th percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2018: $0Liabilities 2018: $0Net Assets 2018: $02018Assets 2019: $0Liabilities 2019: $5,900Net Assets 2019: -$5,9002019Assets 2020: $11,477,148Liabilities 2020: $12,016,036Net Assets 2020: -$538,8882020Assets 2021: $11,668,956Liabilities 2021: $12,423,486Net Assets 2021: -$754,5302021Assets 2022: $11,647,797Liabilities 2022: $12,459,429Net Assets 2022: -$811,6322022Assets 2023: $11,568,969Liabilities 2023: $12,415,302Net Assets 2023: -$846,3332023Assets 2024: $11,544,077Liabilities 2024: $12,399,572Net Assets 2024: -$855,4952024

Highlighted filing

2023

Assets$11,568,969
Liabilities$12,415,302
Net Assets-$846,333
Open 2023 Filing

Operations Trend

Revenue Growth52nd percentile

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

$1.5M$1.0M$500K$0-$500K-$1.0MRevenue 2018: $0Expenses 2018: $0Net Income 2018: $02018Revenue 2019: $0Expenses 2019: $5,900Net Income 2019: -$5,9002019Revenue 2020: $138,145Expenses 2020: $671,133Net Income 2020: -$532,9882020Revenue 2021: $798,779Expenses 2021: $1,014,421Net Income 2021: -$215,6422021Revenue 2022: $892,812Expenses 2022: $949,914Net Income 2022: -$57,1022022Revenue 2023: $950,482Expenses 2023: $985,183Net Income 2023: -$34,7012023Revenue 2024: $988,110Expenses 2024: $997,272Net Income 2024: -$9,1622024

Highlighted filing

2023

Revenue$950,482
Expenses$985,183
Net Income-$34,701
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Apr 30, 2024
Return Version
2022v5.0
Gross Receipts
$950,482
Mission and Program Overview

Mission

To support the mission and vision of kipp minnesota through the ownership of real property.

Lease and maintain property for kipp minnesota.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,718,492$9,537,689▼ $180,803
Savings and Temporary Cash Investments$1,529,305$1,631,280▲ $101,975
Cap Stk Tr Prin Current Funds$1,536,509$928,858▼ $607,651
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$-2,348,141$-1,775,191▲ $572,950
Total Assets$11,647,797$11,568,969▼ $78,828
Other Assets Total$400,000$400,000→ $0
Liabilities
Tax Exempt Bond Liabilities$11,371,633$11,383,926▲ $12,293
Mortgage Notes Payable Secured by Investment Property$695,000$595,000▼ $100,000
Accounts Payable and Accrued Expenses$360,094$357,094▼ $3,000
Other Liabilities$32,702$79,282▲ $46,580
Total Liabilities$12,459,429$12,415,302▼ $44,127
Net Assets / Fund Balance
Total Net Assets Fund Balance$-811,632$-846,333▼ $34,701
Total Liabilities and Net Assets / Fund Balance$11,647,797$11,568,969▼ $78,828

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,293,659$636,793$7,930,452
Land$2,244,030-$2,244,030
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Christina SaundersPresident
Kelly RimpilaSecretary
Wade JonesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$912,423
Investment Income
$38,059
Other Revenue
$0
Change in Net Assets
$-34,701
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$985,183
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$726,481--$726,481
Depreciation Depletion$200,254--$200,254
Fees for Services Other$36,818--$36,818
Fees for Services Accounting$13,200--$13,200
Fees for Services Legal$8,430--$8,430
Total Functional Expenses$985,183$0$0$985,183
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 Kipp Minnesota$79,282

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of Minneapolis2020-04-21$11,358,752SCHOOL CONSTRUCTION

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$11,358,752--$158,828

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
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The sole member of the organization is kipp minnesota.”

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 8B

“The school does not have any committees that have authority to act on behalf of the governing body.”

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

“The board of directors reviews the public disclosure copy of the form 990 prior to filing.”

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
Kipp Minnesota Abc
EIN
82-2757664
Phone
6122879700
Address
5034 OLIVER AVENUE NORTH, MINNEAPOLIS, MN 55430

Signing Officer

Name
Christina Saunders
Title
President/board Chair
Phone
6122879700
Signed
2024-04-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christina Saunders
Formed
2020
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 charter school is exempt from income taxes under section 501(c)(3) of the internal revenue code. The charter 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, 2023, there were no income tax related accrued interest or penalties recognized in either the statement of financial position or the statement of activities. The charter 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 409 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/ExplanationTxt0THE CHARTER SCHOOL IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE CHARTER 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, 2023, THERE WERE NO INCOME TAX RELATED ACCRUED INTEREST OR PENALTIES RECOGNIZED IN EITHER THE STATEMENT OF FINANCIAL POSITION OR THE STATEMENT OF ACTIVITIES. THE CHARTER 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
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd00
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SOLE MEMBER OF THE ORGANIZATION IS KIPP MINNESOTA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SOLE MEMBER HAS THE POWER TO REMOVE OR APPOINT DIRECTORS OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE SCHOOL DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS REVIEWS THE PUBLIC DISCLOSURE COPY OF THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
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 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd01
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
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IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
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IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/BOARD CHAIR
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$11,568,969
Liabilities
$12,415,302
Net assets
-$846,333
Revenue
$950,482
Expenses
$985,183
Net income
-$34,701
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$11.5$12.4$0.86$0.99$1.00$0.01
2023Detailed filing. Detailed filing data is available for this year.$11.6$12.4$0.85$0.95$0.99$0.03
2022Detailed filing. Detailed filing data is available for this year.$11.6$12.5$0.81$0.89$0.95$0.06
2021Detailed filing. Detailed filing data is available for this year.$11.7$12.4$0.75$0.80$1.01$0.22
2020Detailed filing. Detailed filing data is available for this year.$11.5$12.0$0.54$0.14$0.67$0.53
2019Detailed filing. Detailed filing data is available for this year.$0.00$0.01$0.01$0.00$0.01$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00