Civic Intelligence

Educational Properties II Inc.

990 • Fiscal year 2019 • EIN 82-2899975

Jul 01, 2018 to Jun 30, 2019 • Filed on Apr 02, 2020

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

92nd percentile

1.00x

Higher debt load relative to assets than 92% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

97th percentile

11.75x

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

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

84th percentile

30%

Higher net margin than 84% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

69th percentile

10%

Faster asset growth than 69% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

98th percentile

373%

Faster revenue growth than 98% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Up

$7,452,303

Up $678,042 (+10%) from 2018

Net Assets

Up

$12,153

Up $188,577 (+107%) from 2018

Liabilities

Up

$7,440,150

Up $489,465 (+7.0%) from 2018

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin84th percentile

Revenue

Up

$633,031

Up $499,194 (+373%) from 2018

Expenses

Up

$444,454

Up $134,193 (+43%) from 2018

Net Income

Up

$188,577

Up $365,001 (+207%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth69th percentile

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 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

2019

Assets$7,452,303
Liabilities$7,440,150
Net Assets$12,153
Open 2019 Filing

Operations Trend

Revenue Growth98th percentile

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 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

2019

Revenue$633,031
Expenses$444,454
Net Income$188,577
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Apr 2, 2020
Return Version
2018v3.1
Gross Receipts
$633,031
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$4,973,989$6,352,303▲ $1,378,314
Pd in Cap Srpls Land Bldg Eqp Fund$4,973,989$6,352,303▲ $1,378,314
Savings and Temporary Cash Investments$1,800,272$1,100,000▼ $700,272
Rtn Earn Endowment Incm Other Fnds$0$-1,435,743▼ $1,435,743
Cap Stk Tr Prin Current Funds$-5,150,413$-4,904,407▲ $246,006
Total Assets$6,774,261$7,452,303▲ $678,042
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,292,032$4,895,146▼ $396,886
Unsecured Notes Loans Payable$1,609,834$2,535,743▲ $925,909
Accounts Payable and Accrued Expenses$39,019--
Other Liabilities$9,800$9,261▼ $539
Total Liabilities$6,950,685$7,440,150▲ $489,465
Net Assets / Fund Balance
Total Net Assets Fund Balance$-176,424$12,153▲ $188,577
Total Liabilities and Net Assets / Fund Balance$6,774,261$7,452,303▲ $678,042

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,831,999$325,133$6,157,132
Other Land Buildings$460,304-$460,304
Land$60,000-$60,000
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Leng VangChair
Neal ThaoSuperintendent
Mike PocrnichTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$633,031
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$188,577

Audited Revenue Reconciliation

Revenue per Audited Statements
$0
Revenue Not Reported on Financial Statements
$633,031
Revenue Not Reported on Form 990
$11,564,168
Other Revenue Adjustments
$633,031
Total Revenue per Audited Statements
$11,564,168
Total Revenue per Form 990
$633,031
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$444,454
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$243,520--$243,520
Depreciation Depletion$201,083--$201,083
Fees for Services Other$-149--$-149
Total Functional Expenses$444,454$0$0$444,454

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$11,121,012
Expenses Not Reported on Form 990$10,676,558
Expenses per Audited Statements$444,454
Total Expenses per Form 990$444,454
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$9,261
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
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
2020-04-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mike Pocrnich
Formed
2018
Legal Domicile
Mn
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
2

Preparer

Firm
SCHLENNER WENNER & CO CPA'S PA
Address
630 ROOSEVELT RD STE 201, ST CLOUD, MN 56301
Preparer
Shelley M Gaetz
Phone
3202510286
Supplemental Narrative

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Revenue reported on related returns 11,564,168.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“RENT REVENUE 633,031.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Expenses reported on related returns 12,837,864. Rent expense on other returns, not on financial statements -2,161,306.”

Raw XML Appendix380 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/ExplanationTxt0REVENUE REPORTED ON RELATED RETURNS 11,564,168.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1RENT REVENUE 633,031.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2EXPENSES REPORTED ON RELATED RETURNS 12,837,864. RENT EXPENSE ON OTHER RETURNS, NOT ON FINANCIAL STATEMENTS -2,161,306.
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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IRS990ScheduleD/TotalRevenuePerForm990Amt0633031
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IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
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/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
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IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MIKE POCRNICH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07635927706
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-04-02
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ReturnHeader/FilingSecurityInformation/IPTm010:17:57
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/ZIPCd056301
ReturnHeader/PreparerPersonGrp/PhoneNum03202510286
ReturnHeader/PreparerPersonGrp/PreparationDt02020-04-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHELLEY M GAETZ
ReturnHeader/ReturnTs02020-04-08T10:53:00-05:00
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
$7,452,303
Liabilities
$7,440,150
Net assets
$12,153
Revenue
$633,031
Expenses
$444,454
Net income
$188,577
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