Civic Intelligence

Quantum Steam Academy

990 • Fiscal year 2020 • EIN 83-1605019

Jul 01, 2019 to Jun 30, 2020 • Filed on May 12, 2021

Organization Profileqsteamacademy.org
497 Humboldt AvenueSt Paul, MN 55107

(651) 615-6888

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.89x

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

94th percentile

1.03x

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

60th percentile

12%

Higher net margin than 60% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

Score unavailable

No value available

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

Source year 2020

Revenue Growth

Score unavailable

No value available

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

Source year 2020

Balance Sheet
Liabilities / Assets93rd percentile

Assets

$102,829

No earlier filing loaded for comparison.

Net Assets

$10,929

No earlier filing loaded for comparison.

Liabilities

$91,900

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin60th percentile

Revenue

$89,465

No earlier filing loaded for comparison.

Expenses

$78,536

No earlier filing loaded for comparison.

Net Income

$10,929

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.

$3.0M$2.0M$1.0M$0Assets 2020: $102,829Liabilities 2020: $91,900Net Assets 2020: $10,9292020Assets 2021: $329,401Liabilities 2021: $183,070Net Assets 2021: $146,3312021Assets 2022: $1,536,984Liabilities 2022: $806,307Net Assets 2022: $730,6772022Assets 2023: $2,193,489Liabilities 2023: $1,355,513Net Assets 2023: $837,9762023Assets 2024: $2,684,052Liabilities 2024: $1,568,096Net Assets 2024: $1,115,9562024

Highlighted filing

2020

Assets$102,829
Liabilities$91,900
Net Assets$10,929
Open 2020 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$4.0M$3.0M$2.0M$1.0M$0Revenue 2020: $89,465Expenses 2020: $78,536Net Income 2020: $10,9292020Revenue 2021: $1,276,632Expenses 2021: $1,141,230Net Income 2021: $135,4022021Revenue 2022: $2,490,641Expenses 2022: $1,906,295Net Income 2022: $584,3462022Revenue 2023: $2,917,950Expenses 2023: $2,810,651Net Income 2023: $107,2992023Revenue 2024: $3,658,958Expenses 2024: $3,380,978Net Income 2024: $277,9802024

Highlighted filing

2020

Revenue$89,465
Expenses$78,536
Net Income$10,929
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 12, 2021
Return Version
2019v5.2
Gross Receipts
$89,465
Mission and Program Overview

Mission

Quantum steam academy charter school accelerates learning through quality instruction, an integrated arts & sciences curriculum, and authentic collaboration that engages leadership, staff, students, families, and communities in the educational enterprise.

Provide an education and other educational services to students in grades K-8.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable-$89,465-
Land, Buildings, and Equipment, Net$0$12,791▲ $12,791
Pd in Cap Srpls Land Bldg Eqp Fund$0$12,791▲ $12,791
Cash and Non-Interest-Bearing Accounts-$573-
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$0$-1,862▼ $1,862
Total Assets$0$102,829▲ $102,829
Liabilities
Accounts Payable and Accrued Expenses-$91,900-
Total Liabilities$0$91,900▲ $91,900
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$10,929▲ $10,929
Total Liabilities and Net Assets / Fund Balance$0$102,829▲ $102,829

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$12,791-$12,791
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Khalid HaddaouiChair
Shavkat MetekovVice Chair
Crescence NabilMember
Filsan IsmailMember
Adnan KhanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$89,465
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$10,929

Audited Revenue Reconciliation

Revenue per Audited Statements
$89,465
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$89,465
Total Revenue per Form 990
$89,465
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$71,103
Salaries, Compensation, and Employee Benefits$7,433
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Information Technology$28,694--$28,694
Fees for Services Other$13,631--$13,631
Fees for Services Accounting-$9,000-$9,000
Fees for Services Legal-$7,135-$7,135
Other Expenses-$6,438-$6,438
Other Salaries and Wages$6,420--$6,420
Occupancy$4,850--$4,850
Office Expenses-$1,355-$1,355
Pension Plan Contributions$522--$522
Payroll Taxes$491--$491
Total Functional Expenses$54,608$23,928$0$78,536

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$78,536
Total Expenses per Audited Statements$78,536
Total Expenses per Form 990$78,536
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$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
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
Yes
Other officer compensation reviewed
Yes
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 B, line 11B

“The 990 is prepared by an independent accounting firm and is reviewed by the Board and Director of organization prior to filing.”

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

“Annually each board member completes a required form and discloses any conflicts of interests.”

Form 990, Part VI, Section B, line 15

“Current compensation is based on past wages with increases given during the year by the board forming the basis of future years pay.”

Form 990, Part VI, Section C, line 19

“Meeting minutes, agendas, and other related information is available on the organization's website or upon request.”

Form 990, Part VI, Section A, Line 1B:

“Several members of the board are teachers at the School. Minnesota State Statutue 124D.10 Subd. 4(g) requires the board to have at least one employed or contracted teacher.”

Filing and Contact Details

Filer

Filer Name
Quantum STEAM Academy
EIN
83-1605019
Phone
6516156888
Address
497 Humboldt Avenue, St Paul, MN 55107

Signing Officer

Name
Mahrous Kandil
Title
Board Chair
Phone
6516156888
Signed
2021-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mahrous Kandil
Formed
2018
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
3
Employees
0
Volunteers
2

Preparer

Firm
Malloy Montague Karnowski Radosevich
Address
5353 Wayzata Blvd Ste 410, Minneapolis, MN 55416
Preparer
Victoria L Holinka
Phone
9525450424
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

“Consulting fees/fees for services: Program service expenses 13,631. Management and general expenses 0. Fundraising expenses 0. Total expenses 13,631.”

Form 990, Part XI, Line 2C:

“The School Board assumes responsibility for the oversight of the audit of it's financial statements and the selection of an independent auditor annually. This process has not changed from the prior year.”

Related Organization Compensation

“Made an effort to obtain information on compensation, if any, was paid from a related organization. No response received and no transactions noted.”

Authorizer

“The Academy is required to have an Authorizer to monitor its operations in order to maintain its charter. The Academy's approved authorizer during the fiscal year 2020 was Novation Education Opportunities.”

Financial Statement Notes

Part X, Line 2:

“Quantum STEAM Academy (the School) is exempt from federal and state income taxes under Internal Revenue Code 501(c)(3). The School is subject to tax on income from any unrelated business. The School is subject to the recognition requirements for uncertain income tax positions as required by the Financial Accounting Standards Board Accounting Standards Codification 740-10. Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more likely-than-not be sustained upon examination by taxing authorities. The School has analyzed tax positions taken for filing with the Internal Revenue Service and state jurisdiction where they operate. The School believes that income tax filing positions will be sustained upon examination and do not anticipate any adjustments that would result in a material adverse effect on their respective financial condition, results of operation or cash flows. Accordingly, the School has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at June 30, 2020. The School is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any open tax periods since this is an initial filing.”

Raw XML Appendix338 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/ExplanationTxt0Quantum STEAM Academy (the School) is exempt from federal and state income taxes under Internal Revenue Code 501(c)(3). The School is subject to tax on income from any unrelated business. The School is subject to the recognition requirements for uncertain income tax positions as required by the Financial Accounting Standards Board Accounting Standards Codification 740-10. Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more likely-than-not be sustained upon examination by taxing authorities. The School has analyzed tax positions taken for filing with the Internal Revenue Service and state jurisdiction where they operate. The School believes that income tax filing positions will be sustained upon examination and do not anticipate any adjustments that would result in a material adverse effect on their respective financial condition, results of operation or cash flows. Accordingly, the School has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at June 30, 2020. The School is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any open tax periods since this is an initial filing.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0Nondiscrimination policy is included in registration material.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1The School receives state and federal aid payments and grants to finance educational services for their students.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Part I, Line 6
IRS990/ScheduleJRequiredInd00
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The 990 is prepared by an independent accounting firm and is reviewed by the Board and Director of organization prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Annually each board member completes a required form and discloses any conflicts of interests.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Current compensation is based on past wages with increases given during the year by the board forming the basis of future years pay.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Meeting minutes, agendas, and other related information is available on the organization's website or upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Consulting fees/fees for services: Program service expenses 13,631. Management and general expenses 0. Fundraising expenses 0. Total expenses 13,631.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The School Board assumes responsibility for the oversight of the audit of it's financial statements and the selection of an independent auditor annually. This process has not changed from the prior year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Made an effort to obtain information on compensation, if any, was paid from a related organization. No response received and no transactions noted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7The Academy is required to have an Authorizer to monitor its operations in order to maintain its charter. The Academy's approved authorizer during the fiscal year 2020 was Novation Education Opportunities.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Several members of the board are teachers at the School. Minnesota State Statutue 124D.10 Subd. 4(g) requires the board to have at least one employed or contracted teacher.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XI, Line 2C:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Related Organization Compensation
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7AUTHORIZER
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part VI, Section A, Line 1B:
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxableDistributionsInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt0102829
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt0102829
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt023928
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt054608
IRS990/TotalFunctionalExpensesGrp/TotalAmt078536
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt091900
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt091900
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt010929
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt054608
IRS990/TotalProgramServiceRevenueAmt089465
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt089465
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt089465
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0102829
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0497 Humboldt Avenue
IRS990/USAddress/CityNm0St Paul
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055107
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0qsteamacademy.org
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Mahrous Kandil
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board Chair
ReturnHeader/BusinessOfficerGrp/PhoneNum06516156888
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Quantum STEAM Academy
ReturnHeader/Filer/BusinessNameControlTxt0QUAN
ReturnHeader/Filer/EIN0831605019
ReturnHeader/Filer/PhoneNum06516156888
ReturnHeader/Filer/USAddress/AddressLine1Txt0497 Humboldt Avenue
ReturnHeader/Filer/USAddress/CityNm0St Paul
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055107
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411690382
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Malloy Montague Karnowski Radosevich
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05353 Wayzata Blvd Ste 410
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Minneapolis
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055416
ReturnHeader/PreparerPersonGrp/PhoneNum09525450424
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Victoria L Holinka
ReturnHeader/ReturnTs02021-05-14T12:47:04-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$102,829
Liabilities
$91,900
Net assets
$10,929
Revenue
$89,465
Expenses
$78,536
Net income
$10,929
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.68$1.57$1.12$3.66$3.38$0.28
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.19$1.36$0.84$2.92$2.81$0.11
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.54$0.81$0.73$2.49$1.91$0.58
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.33$0.18$0.15$1.28$1.14$0.14
2020Detailed filing. Detailed filing data is available for this year.$0.10$0.09$0.01$0.09$0.08$0.01