Civic Intelligence

Nlaabc

990 • Fiscal year 2019 • EIN 83-1261878

Jul 01, 2018 to Jun 30, 2019 • Filed on Feb 15, 2020

Organization ProfileN/A
308 15th StreetForest Lake, MN 55025

(651) 982-2773

Siviq Scores

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

Liabilities / Assets

95th percentile

1.10x

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

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

100th percentile

304.10x

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

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

1st percentile

-2660%

Higher net margin than 1% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

20th percentile

$91,712

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 111.6% of source-year revenue.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Asset Growth

Score unavailable

No value available

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

Source year 2019

Revenue Growth

Score unavailable

No value available

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

Source year 2019

Balance Sheet
Liabilities / Assets95th percentile

Assets

$22,808,009

No earlier filing loaded for comparison.

Net Assets

-$2,186,074

No earlier filing loaded for comparison.

Liabilities

$24,994,083

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

$82,190

No earlier filing loaded for comparison.

Expenses

$2,268,264

No earlier filing loaded for comparison.

Net Income

-$2,186,074

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$40M$30M$20M$10M$0-$10MAssets 2019: $22,808,009Liabilities 2019: $24,994,083Net Assets 2019: -$2,186,0742019Assets 2020: $19,601,840Liabilities 2020: $22,113,573Net Assets 2020: -$2,511,7332020Assets 2021: $29,406,076Liabilities 2021: $33,447,565Net Assets 2021: -$4,041,4892021Assets 2022: $28,699,674Liabilities 2022: $33,249,253Net Assets 2022: -$4,549,5792022Assets 2023: $27,903,662Liabilities 2023: $33,321,305Net Assets 2023: -$5,417,6432023Assets 2024: $27,247,857Liabilities 2024: $33,171,843Net Assets 2024: -$5,923,9862024Assets 2025: $26,637,955Liabilities 2025: $33,075,737Net Assets 2025: -$6,437,7822025

Highlighted filing

2019

Assets$22,808,009
Liabilities$24,994,083
Net Assets-$2,186,074
Open 2019 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$4.0M$2.0M$0-$2.0M-$4.0MRevenue 2019: $82,190Expenses 2019: $2,268,264Net Income 2019: -$2,186,0742019Revenue 2020: $1,789,199Expenses 2020: $2,114,858Net Income 2020: -$325,6592020Revenue 2021: $954,141Expenses 2021: $2,724,938Net Income 2021: -$1,770,7972021Revenue 2022: $1,601,278Expenses 2022: $2,192,900Net Income 2022: -$591,6222022Revenue 2023: $1,594,318Expenses 2023: $2,372,116Net Income 2023: -$777,7982023Revenue 2024: $1,700,192Expenses 2024: $2,385,018Net Income 2024: -$684,8262024Revenue 2025: $1,682,234Expenses 2025: $2,467,346Net Income 2025: -$785,1122025

Highlighted filing

2019

Revenue$82,190
Expenses$2,268,264
Net Income-$2,186,074
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Feb 15, 2020
Return Version
2018v3.1
Gross Receipts
$82,190
Mission and Program Overview

Mission

To purchase and lease a school facility to north lakes academy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$0$13,280,339▲ $13,280,339
Savings and Temporary Cash Investments-$9,527,670-
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$-2,186,074▼ $2,186,074
Total Assets$0$22,808,009▲ $22,808,009
Liabilities
Tax Exempt Bond Liabilities-$21,250,000-
Accounts Payable and Accrued Expenses-$3,220,382-
Other Liabilities$0$523,701▲ $523,701
Total Liabilities$0$24,994,083▲ $24,994,083
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$-2,186,074▼ $2,186,074
Total Liabilities and Net Assets / Fund Balance$0$22,808,009▲ $22,808,009

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$6,674,194-$6,674,194
Buildings$5,404,696$15,055$5,419,751
Land$1,201,449-$1,201,449
Compensation and Service Providers
Top Officer Pay20th percentile

Employees

NameTitleOtherTotal
Jan JensenBusiness Manager$91,712$91,712

Board Members and Trustees

NameTitle
Mike HigginsBoard Chair
Jeff BeimertSecretary
Chris DaleTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$82,190
Other Revenue
$0
Change in Net Assets
$-2,186,074

Audited Revenue Reconciliation

Revenue per Audited Statements
$82,190
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$4,949,059
Total Revenue per Audited Statements
$5,031,249
Total Revenue per Form 990
$82,190
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,268,264
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$1,113,217--$1,113,217
Other Expenses$1,100,000--$1,100,000
All Other Expenses$39,992--$39,992
Depreciation Depletion$15,055--$15,055
Total Functional Expenses$2,268,264$0$0$2,268,264

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$20,115,422
Expenses Not Reported on Form 990$18,345,923
Total Expenses per Form 990$2,268,264
Expenses per Audited Statements$1,769,499
Expenses Not Reported on Financial Statements$498,765
Other Expense Adjustments$498,765
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
Interest Payable$483,710
Due to North Lakes Charter Academy$39,991

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of Forest Lake2019-01-18$13,440,000Purchase of existing building and property

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$13,172,130--$267,870

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
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
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 member of the corporation is north lakes charter academy.”

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

“The member shall elect three directors, at least two of whom shall also be members of the board of directors of north lakes charter academy.”

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 accounting firm. The form 990 is then sent to the board of directors for review and approval prior to filing with the irs.”

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

“The conflict of interest policy applies to the school's board of directors, committees of the board, as well as employees and parents of enrolled students. Transactions where a conflict of interest was determined to exist by remaining independent members may not be executed unless all of the following conditions are met: (1) the interest is disclosed or known to the members of the board (or committee thereof); (2) the board or committee approves, authorizes, or ratifies the action in good faith; (3) the approval is by a majority of members (not counting the interested individual); at (4) a meeting where a quorum is present (not counting the interested individual). The individual with the conflict may be present for discussion to answer questions but may not advocate for the action to be taken or vote on the action. The minutes of the meeting document clearly that the proceedings related to conflicts of interest and that the policy's requirements have been met.”

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
Nlaabc
EIN
83-1261878
Phone
6519822773
Address
308 15TH STREET, FOREST LAKE, MN 55025

Signing Officer

Name
Jan Jensen
Title
Business Manager
Phone
6519822773
Signed
2020-02-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jan Jensen
Formed
2018
Legal Domicile
Mn
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
3

Preparer

Firm
Cliftonlarsonallen Llp
Address
220 SOUTH SIXTH STREET SUITE 300, MINNEAPOLIS, MN 55402
Preparer
Karen Gries
Phone
6123764500
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 1, EXPLANATION OF METHOD OF ACCOUNTING:

“The organization follows a modified accrual method of accounting as prescribed by the minnesota department of education. The school-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Grants and similar items are recognized when all elgibility requirements imposed by the provider have been met.”

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“School revenue reported in a seperate return 4,949,059.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“School expenses reported in a seperate return 5,050,528. Capitalized expenditures 13,295,395.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Depreciation expense 15,055. Change in accrued interest. 483,710.”

Raw XML AppendixShowing 400 of 419 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/ExplanationTxt1SCHOOL EXPENSES REPORTED IN A SEPERATE RETURN 5,050,528. CAPITALIZED EXPENDITURES 13,295,395.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2DEPRECIATION EXPENSE 15,055. CHANGE IN ACCRUED INTEREST. 483,710.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 2D - OTHER ADJUSTMENTS:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MEMBER OF THE CORPORATION IS NORTH LAKES CHARTER ACADEMY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBER SHALL ELECT THREE DIRECTORS, AT LEAST TWO OF WHOM SHALL ALSO BE MEMBERS OF THE BOARD OF DIRECTORS OF NORTH LAKES CHARTER ACADEMY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. THE FORM 990 IS THEN SENT TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE CONFLICT OF INTEREST POLICY APPLIES TO THE SCHOOL'S BOARD OF DIRECTORS, COMMITTEES OF THE BOARD, AS WELL AS EMPLOYEES AND PARENTS OF ENROLLED STUDENTS. TRANSACTIONS WHERE A CONFLICT OF INTEREST WAS DETERMINED TO EXIST BY REMAINING INDEPENDENT MEMBERS MAY NOT BE EXECUTED UNLESS ALL OF THE FOLLOWING CONDITIONS ARE MET: (1) THE INTEREST IS DISCLOSED OR KNOWN TO THE MEMBERS OF THE BOARD (OR COMMITTEE THEREOF); (2) THE BOARD OR COMMITTEE APPROVES, AUTHORIZES, OR RATIFIES THE ACTION IN GOOD FAITH; (3) THE APPROVAL IS BY A MAJORITY OF MEMBERS (NOT COUNTING THE INTERESTED INDIVIDUAL); AT (4) A MEETING WHERE A QUORUM IS PRESENT (NOT COUNTING THE INTERESTED INDIVIDUAL). THE INDIVIDUAL WITH THE CONFLICT MAY BE PRESENT FOR DISCUSSION TO ANSWER QUESTIONS BUT MAY NOT ADVOCATE FOR THE ACTION TO BE TAKEN OR VOTE ON THE ACTION. THE MINUTES OF THE MEETING DOCUMENT CLEARLY THAT THE PROCEEDINGS RELATED TO CONFLICTS OF INTEREST AND THAT THE POLICY'S REQUIREMENTS HAVE BEEN MET.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION FOLLOWS A MODIFIED ACCRUAL METHOD OF ACCOUNTING AS PRESCRIBED BY THE MINNESOTA DEPARTMENT OF EDUCATION. THE SCHOOL-WIDE FINANCIAL STATEMENTS ARE REPORTED USING THE ECONOMIC RESOURCES MEASUREMENT FOCUS AND THE ACCRUAL BASIS OF ACCOUNTING. GRANTS AND SIMILAR ITEMS ARE RECOGNIZED WHEN ALL ELGIBILITY REQUIREMENTS IMPOSED BY THE PROVIDER HAVE BEEN MET.
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 B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 1, EXPLANATION OF METHOD OF ACCOUNTING:
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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
$22,808,009
Liabilities
$24,994,083
Net assets
-$2,186,074
Revenue
$82,190
Expenses
$2,268,264
Net income
-$2,186,074
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$26.6$33.1$6.44$1.68$2.47$0.79
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.2$33.2$5.92$1.70$2.39$0.68
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.9$33.3$5.42$1.59$2.37$0.78
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.7$33.2$4.55$1.60$2.19$0.59
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.4$33.4$4.04$0.95$2.72$1.77
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.6$22.1$2.51$1.79$2.11$0.33
2019Detailed filing. Detailed filing data is available for this year.$22.8$25.0$2.19$0.08$2.27$2.19