Civic Intelligence

Educational Properties II Inc.

990 • Fiscal year 2023 • EIN 82-2899975

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

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

94th percentile

1.02x

Higher debt load relative to assets than 94% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

100th percentile

1280.00x

Higher debt load relative to revenue than 100% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

98th percentile

90%

Higher net margin than 98% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

56th percentile

$75,378

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 8070.4% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

37th percentile

0.1%

Faster asset growth than 37% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

1st percentile

-98%

Faster revenue growth than 1% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$1,176,224

Up $844 (+0.1%) from 2022

Net Assets

Up

-$19,295

Up $844 (+4.2%) from 2022

Liabilities

Flat

$1,195,519

Flat from 2022

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin98th percentile

Revenue

Down

$934

Down $59,067 (-98%) from 2022

Expenses

Up

$90

Up $90 from 2022

Net Income

Down

$844

Down $59,157 (-99%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth37th 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

2023

Assets$1,176,224
Liabilities$1,195,519
Net Assets-$19,295
Open 2023 Filing

Operations Trend

Revenue Growth1st 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

2023

Revenue$934
Expenses$90
Net Income$844
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Mar 14, 2024
Return Version
2022v5.0
Gross Receipts
$934
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,175,380$1,176,224▲ $844
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-20,139$-19,295▲ $844
Total Assets$1,175,380$1,176,224▲ $844
Liabilities
Other Liabilities$1,195,519$1,195,519→ $0
Total Liabilities$1,195,519$1,195,519→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$-20,139$-19,295▲ $844
Total Liabilities and Net Assets / Fund Balance$1,175,380$1,176,224▲ $844
Compensation and Service Providers
Top Officer Pay56th percentile

Employees

NameTitleOtherTotal
Chai VangMember$75,378$75,378

Board Members and Trustees

NameTitle
Michael YangChair
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$934
Other Revenue
$0
Change in Net Assets
$844
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$90
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-$90-$90
Total Functional Expenses$0$90$0$90
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
Amounts Owed to Noble Academy$1,195,519
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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 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 submision to the irs.”

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
Michael Yang
Title
Chair
Phone
7635927706
Signed
2024-03-14
Discuss with paid preparer
Yes

Organization Details

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

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

Additional Explanations

Form 990, Part IX, Line 11G

“Fees for services: program service expenses 0. Management and general expenses 90. Fundraising expenses 0. Total expenses 90.”

Financial Statement Notes

PART X, LINE 2:

“The academy is recognized by the internal revenue service as a not-for-profit organization under irs code section 501(c)(3). Due to the not-for-profit nature and provision of the academy, all income and expenses attributable to the mission of the academy are tax exempt and accordingly no provision or liability for income taxes have been made in the financial statements and contributions to the academy are tax deductible to donors as allowed by irs regulations. However, the academy is required to pay state and federal income taxes on unrelated business income. If the academy were to engage in any activities that resulted in unrelated business income, a tax would be assessed on that activity. The academy is open and subject to examination generally for three years after the filing date.”

Raw XML Appendix329 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 ACADEMY IS RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS A NOT-FOR-PROFIT ORGANIZATION UNDER IRS CODE SECTION 501(C)(3). DUE TO THE NOT-FOR-PROFIT NATURE AND PROVISION OF THE ACADEMY, ALL INCOME AND EXPENSES ATTRIBUTABLE TO THE MISSION OF THE ACADEMY ARE TAX EXEMPT AND ACCORDINGLY NO PROVISION OR LIABILITY FOR INCOME TAXES HAVE BEEN MADE IN THE FINANCIAL STATEMENTS AND CONTRIBUTIONS TO THE ACADEMY ARE TAX DEDUCTIBLE TO DONORS AS ALLOWED BY IRS REGULATIONS. HOWEVER, THE ACADEMY IS REQUIRED TO PAY STATE AND FEDERAL INCOME TAXES ON UNRELATED BUSINESS INCOME. IF THE ACADEMY WERE TO ENGAGE IN ANY ACTIVITIES THAT RESULTED IN UNRELATED BUSINESS INCOME, A TAX WOULD BE ASSESSED ON THAT ACTIVITY. THE ACADEMY IS OPEN AND SUBJECT TO EXAMINATION GENERALLY FOR THREE YEARS AFTER THE FILING DATE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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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 SUBMISION TO THE IRS.
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/ExplanationTxt5FEES FOR SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 90. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 90.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01175380
IRS990/TotalAssetsEOYAmt01176224
IRS990/TotalAssetsGrp/BOYAmt01175380
IRS990/TotalAssetsGrp/EOYAmt01176224
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt090
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt090
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt01195519
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IRS990/TotalLiabilitiesGrp/EOYAmt01195519
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-20139
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-19295
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0934
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0934
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01175380
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01176224
IRS990/TotReportableCompRltdOrgAmt075378
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt09477 DECATUR DR N
IRS990/USAddress/CityNm0BROOKLYN PARK
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055445
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0WWW.NOBLEACADEMY.US
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL YANG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum07635927706
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-03-14
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
ReturnHeader/Filer/USAddress/ZIPCd055445
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
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/PreparationDt02024-03-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHELLEY M GAETZ
ReturnHeader/ReturnTs02024-03-29T12:45:55-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MICHAEL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0YANG
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,176,224
Liabilities
$1,195,519
Net assets
-$19,295
Revenue
$934
Expenses
$90
Net income
$844
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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2023 filings • 501(c)3 • $1M-$5M nonprofits