Civic Intelligence

Educational Properties II Inc.

990 • Fiscal year 2018 • EIN 82-2899975

Jul 01, 2017 to Jun 30, 2018 • Filed on Mar 07, 2019

Organization ProfileWWW.NOBLEACADEMY.US
9477 Decatur Dr NBrooklyn Park, MN 55445

(763) 592-7706

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.03x

Higher debt load relative to assets than 93% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

99th percentile

51.93x

Higher debt load relative to revenue than 99% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

2nd percentile

-132%

Higher net margin than 2% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

Score unavailable

No value available

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

Source year 2018

Revenue Growth

Score unavailable

No value available

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

Source year 2018

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Flat

$6,774,261

Flat from 2018

Net Assets

Flat

-$176,424

Flat from 2018

Liabilities

Flat

$6,950,685

Flat from 2018

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin2nd percentile

Revenue

Flat

$133,837

Flat from 2018

Expenses

Flat

$310,261

Flat from 2018

Net Income

Flat

-$176,424

Flat from 2018

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MAssets 2018: $6,774,261Liabilities 2018: $6,950,685Net Assets 2018: -$176,4242018Assets 2018: $6,774,261Liabilities 2018: $6,950,685Net Assets 2018: -$176,4242018Assets 2019: $7,452,303Liabilities 2019: $7,440,150Net Assets 2019: $12,1532019Assets 2020: $7,363,652Liabilities 2020: $7,206,240Net Assets 2020: $157,4122020Assets 2021: $2,157,879Liabilities 2021: $2,238,019Net Assets 2021: -$80,1402021Assets 2022: $1,175,380Liabilities 2022: $1,195,519Net Assets 2022: -$20,1392022Assets 2023: $1,176,224Liabilities 2023: $1,195,519Net Assets 2023: -$19,2952023Assets 2024: $1,178,465Liabilities 2024: $1,195,519Net Assets 2024: -$17,0542024Assets 2025: $1,180,704Liabilities 2025: $1,195,519Net Assets 2025: -$14,8152025

Highlighted filing

2018

Assets$6,774,261
Liabilities$6,950,685
Net Assets-$176,424
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0-$500KRevenue 2018: $133,837Expenses 2018: $310,261Net Income 2018: -$176,4242018Revenue 2018: $133,837Expenses 2018: $310,261Net Income 2018: -$176,4242018Revenue 2019: $633,031Expenses 2019: $444,454Net Income 2019: $188,5772019Revenue 2020: $625,339Expenses 2020: $480,080Net Income 2020: $145,2592020Revenue 2021: $188,788Expenses 2021: $426,340Net Income 2021: -$237,5522021Revenue 2022: $60,001Expenses 2022: $0Net Income 2022: $60,0012022Revenue 2023: $934Expenses 2023: $90Net Income 2023: $8442023Revenue 2024: $2,241Expenses 2024: $0Net Income 2024: $2,2412024Revenue 2025: $2,349Expenses 2025: $110Net Income 2025: $2,2392025

Highlighted filing

2018

Revenue$133,837
Expenses$310,261
Net Income-$176,424
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Mar 7, 2019
Return Version
2017v2.3
Gross Receipts
$133,837
Mission and Program Overview

Mission

To acquire and maintain real property for lease to noble academy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$0$4,973,989▲ $4,973,989
Savings and Temporary Cash Investments-$1,800,272-
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$-25,005▼ $25,005
Cap Stk Tr Prin Current Funds$0$-151,419▼ $151,419
Total Assets$0$6,774,261▲ $6,774,261
Liabilities
Mortgage Notes Payable Secured by Investment Property-$5,292,032-
Unsecured Notes Loans Payable-$1,609,834-
Accounts Payable and Accrued Expenses-$39,019-
Other Liabilities$0$9,800▲ $9,800
Total Liabilities$0$6,950,685▲ $6,950,685
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$-176,424▼ $176,424
Total Liabilities and Net Assets / Fund Balance$0$6,774,261▲ $6,774,261

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,597,460$124,050$3,721,510
Other Land Buildings$1,376,529-$1,376,529
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleOtherTotal
Leng VangChair$72,170$72,170

Board Members and Trustees

NameTitle
Mike PocrnichTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$133,837
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-176,424

Audited Revenue Reconciliation

Revenue per Audited Statements
$28,804
Revenue Not Reported on Financial Statements
$105,033
Revenue Not Reported on Form 990
$11,181,721
Other Revenue Adjustments
$105,033
Total Revenue per Audited Statements
$11,210,525
Total Revenue per Form 990
$133,837
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$310,261
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
Fees for Services Other$136,344--$136,344
Depreciation Depletion$124,050--$124,050
Interest$49,867--$49,867
Total Functional Expenses$310,261$0$0$310,261

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$12,318,294
Expenses Not Reported on Form 990$12,008,033
Expenses per Audited Statements$310,261
Total Expenses per Form 990$310,261
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
Accrued Interest Payable$9,800
Governance and Compliance

Governance Checklist

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

Governance Explanations

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

“All staff members who are employed at the school, including teachers providing instruction under a cooperative, and all parents of children enrolled in the school may vote in the board member election. Each family of an enrolled student will get a maximum of two votes, those votes will be cast by the parents or legal guardians of the student only.”

Form 990, Part VI, Section A, Line 8B

“The organization 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 form 990 is prepared by an independent public accounting firm and reviewed by the school's finance committee and approved by the board prior to its filing.”

Form 990, Part VI, Section B, Line 12C

“The conflict of interest policy is monitored by the board of directors on a regular basis. Any conflict of interest issues, in appearance or fact, are thoroughly reviewed prior to any formal decision being made on the course of action determined by the commissioner of education. Interested persons are prohibited from serving as a member of the school's board of directors if also as an employee or agent of (directly or indirectly) a for-profit entity in which the school contracts all proceeds are documented in the meeting minutes or as otherwise appropriate.”

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
Educational Properties Ii Inc
EIN
82-2899975
Phone
7635927706
Address
9477 DECATUR DR N, BROOKLYN PARK, MN 55445

Signing Officer

Name
Mike Pocrnich
Title
Treasurer
Phone
7635927706
Signed
2019-03-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mike Pocrnich
Formed
2018
Legal Domicile
Mn
Voting Board Members
2
Independent Board Members
1
Employees
0
Volunteers
2

Preparer

Firm
SCHLENNER WENNER & CO CPA'S PA
Address
630 ROOSEVELT RD STE 201, ST CLOUD, MN 56302-1496
Preparer
Shelley M Gaetz
Phone
3202510286
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Other service fees: program service expenses 136,344. Management and general expenses 0. Fundraising expenses 0. Total expenses 136,344.”

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Revenue reported on related returns 11,181,721.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“RENT REVENUE 105,033.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Expenses reported on related returns 13,464,266. Rent expense on other returns, not on financial statements -1,456,233.”

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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/ExplanationTxt0REVENUE REPORTED ON RELATED RETURNS 11,181,721.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1RENT REVENUE 105,033.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2EXPENSES REPORTED ON RELATED RETURNS 13,464,266. RENT EXPENSE ON OTHER RETURNS, NOT ON FINANCIAL STATEMENTS -1,456,233.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALL STAFF MEMBERS WHO ARE EMPLOYED AT THE SCHOOL, INCLUDING TEACHERS PROVIDING INSTRUCTION UNDER A COOPERATIVE, AND ALL PARENTS OF CHILDREN ENROLLED IN THE SCHOOL MAY VOTE IN THE BOARD MEMBER ELECTION. EACH FAMILY OF AN ENROLLED STUDENT WILL GET A MAXIMUM OF TWO VOTES, THOSE VOTES WILL BE CAST BY THE PARENTS OR LEGAL GUARDIANS OF THE STUDENT ONLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS PREPARED BY AN INDEPENDENT PUBLIC ACCOUNTING FIRM AND REVIEWED BY THE SCHOOL'S FINANCE COMMITTEE AND APPROVED BY THE BOARD PRIOR TO ITS FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CONFLICT OF INTEREST POLICY IS MONITORED BY THE BOARD OF DIRECTORS ON A REGULAR BASIS. ANY CONFLICT OF INTEREST ISSUES, IN APPEARANCE OR FACT, ARE THOROUGHLY REVIEWED PRIOR TO ANY FORMAL DECISION BEING MADE ON THE COURSE OF ACTION DETERMINED BY THE COMMISSIONER OF EDUCATION. INTERESTED PERSONS ARE PROHIBITED FROM SERVING AS A MEMBER OF THE SCHOOL'S BOARD OF DIRECTORS IF ALSO AS AN EMPLOYEE OR AGENT OF (DIRECTLY OR INDIRECTLY) A FOR-PROFIT ENTITY IN WHICH THE SCHOOL CONTRACTS ALL PROCEEDS ARE DOCUMENTED IN THE MEETING MINUTES OR AS OTHERWISE APPROPRIATE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BUILDING COMPANY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5OTHER SERVICE FEES: PROGRAM SERVICE EXPENSES 136,344. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 136,344.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 7A
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0NOBLE ACADEMY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0870790480
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0EDUCATION
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IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0105033
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0RENT RECEIVED
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0NOBLE ACADEMY
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0J
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt06774261
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt06774261
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0310261
IRS990/TotalFunctionalExpensesGrp/TotalAmt0310261
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt06950685
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt06950685
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-176424
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0310261
IRS990/TotalProgramServiceRevenueAmt0133837
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt028804
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0105033
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0133837
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06774261
IRS990/TotReportableCompRltdOrgAmt072170
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt01609834
IRS990/UponRequestInd0X
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IRS990/USAddress/ZIPCd055445
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0WWW.NOBLEACADEMY.US
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MIKE POCRNICH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07635927706
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-03-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0EDUCATIONAL PROPERTIES II INC
ReturnHeader/Filer/BusinessNameControlTxt0EDUC
ReturnHeader/Filer/EIN0822899975
ReturnHeader/Filer/PhoneNum07635927706
ReturnHeader/Filer/USAddress/AddressLine1Txt09477 DECATUR DR N
ReturnHeader/Filer/USAddress/CityNm0BROOKLYN PARK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0263E1B184108BFE8AB0E1A8361949DB89699BFC1
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0504151B07C85EB60807BD671D03FC60E9283988C
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt064.88.174.3
ReturnHeader/FilingSecurityInformation/IPDt02019-03-07
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm015:13:04
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411656121
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SCHLENNER WENNER & CO CPA'S PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0630 ROOSEVELT RD STE 201
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ST CLOUD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0563021496
ReturnHeader/PreparerPersonGrp/PhoneNum03202510286
ReturnHeader/PreparerPersonGrp/PreparationDt02019-03-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHELLEY M GAETZ
ReturnHeader/ReturnTs02019-03-20T12:56:31-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-09-15
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,774,261
Liabilities
$6,950,685
Net assets
-$176,424
Revenue
$133,837
Expenses
$310,261
Net income
-$176,424
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.18$1.20$0.01$0.00$0.00$0.00
2024Detailed filing. Detailed filing data is available for this year.$1.18$1.20$0.02$0.00$0.00$0.00
2023Detailed filing. Detailed filing data is available for this year.$1.18$1.20$0.02$0.00$0.00$0.00
2022Detailed filing. Detailed filing data is available for this year.$1.18$1.20$0.02$0.06$0.00$0.06
2021Detailed filing. Detailed filing data is available for this year.$2.16$2.24$0.08$0.19$0.43$0.24
2020Detailed filing. Detailed filing data is available for this year.$7.36$7.21$0.16$0.63$0.48$0.15
2019Detailed filing. Detailed filing data is available for this year.$7.45$7.44$0.01$0.63$0.44$0.19
2018Detailed filing. Detailed filing data is available for this year.$6.77$6.95$0.18$0.13$0.31$0.18
2018Detailed filing. Detailed filing data is available for this year.$6.77$6.95$0.18$0.13$0.31$0.18