Liabilities / Assets
85th percentile
Higher debt load relative to assets than 85% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.52x
Liabilities / Revenue
74th percentile
Higher debt load relative to revenue than 74% of similar nonprofits.
Net Margin
74th percentile
Higher net margin than 74% of similar nonprofits.
Top Officer Pay
47th percentile
Higher top officer pay than 47% of similar nonprofits.
Top officer pay equals 1.9% of source-year revenue.
Asset Growth
98th percentile
Faster asset growth than 98% of similar nonprofits.
Revenue Growth
90th percentile
Faster revenue growth than 90% of similar nonprofits.
Balance Sheet
Assets
Up$1,536,984
Up $1,207,583 (+367%) from 2021
Net Assets
Up$730,677
Up $584,346 (+399%) from 2021
Liabilities
Up$806,307
Up $623,237 (+340%) from 2021
Revenue And Expenses
Revenue
Up$2,490,641
Up $1,214,009 (+95%) from 2021
Expenses
Up$1,906,295
Up $765,065 (+67%) from 2021
Net Income
Up$584,346
Up $448,944 (+332%) from 2021
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2021 to Jun 30, 2022
- Signed
- May 15, 2023
- Return Version
- 2021v4.2
- Gross Receipts
- $2,490,641
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
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Accounts Receivable | $257,274 | $768,767 | ▲ $511,493 |
| Cap Stk Tr Prin Current Funds | $116,935 | $554,259 | ▲ $437,324 |
| Land, Buildings, and Equipment, Net | $10,233 | $145,216 | ▲ $134,983 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $10,233 | $145,216 | ▲ $134,983 |
| Cash and Non-Interest-Bearing Accounts | $61,344 | $101,526 | ▲ $40,182 |
| Rtn Earn Endowment Incm Other Fnds | $19,163 | $31,202 | ▲ $12,039 |
| Prepaid Expenses and Deferred Charges | $550 | $0 | ▼ $550 |
| Total Assets | $329,401 | $1,536,984 | ▲ $1,207,583 |
| Other Assets Total | $0 | $521,475 | ▲ $521,475 |
| Liabilities | |||
| Other Liabilities | $25,000 | $506,488 | ▲ $481,488 |
| Accounts Payable and Accrued Expenses | $158,070 | $296,454 | ▲ $138,384 |
| Deferred Revenue | $0 | $3,365 | ▲ $3,365 |
| Total Liabilities | $183,070 | $806,307 | ▲ $623,237 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $146,331 | $730,677 | ▲ $584,346 |
| Total Liabilities and Net Assets / Fund Balance | $329,401 | $1,536,984 | ▲ $1,207,583 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $145,216 | $10,224 | $155,440 |
| Other Assets Org | $521,475 | - | - |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Total |
|---|---|---|---|---|
| Crescence Nabil | Member | FT | $47,947 | $47,947 |
Board Members and Trustees
| Name | Title |
|---|---|
| Khalid Haddaoui | Chair |
| Shavkat Metekov | Vice Chair |
| Ayan Farah | Member |
| Adnan Khan | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $2,490,641
- Investment Income
- $0
- Other Revenue
- $0
- Change in Net Assets
- $584,346
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $2,490,641
- Revenue Not Reported on Financial Statements
- $0
- Revenue Not Reported on Form 990
- $0
- Total Revenue per Audited Statements
- $2,490,641
- Total Revenue per Form 990
- $2,490,641
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $1,077,435 |
| Other Expenses | $828,860 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | $714,604 | $155,082 | - | $869,686 |
| Occupancy | $197,420 | - | - | $197,420 |
| Fees for Services Other | $128,222 | $11,998 | - | $140,220 |
| Payroll Taxes | $51,894 | $7,110 | - | $59,004 |
| Pension Plan Contributions | $53,416 | $29 | - | $53,445 |
| Current Officers, Directors, Trustees, and Key Employees | $52,238 | - | - | $52,238 |
| Information Technology | $4,228 | $47,113 | - | $51,341 |
| Fees for Services Accounting | - | $43,134 | - | $43,134 |
| Other Employee Benefits | $19,015 | $24,047 | - | $43,062 |
| Fees for Services Management | - | $12,870 | - | $12,870 |
| Other Expenses | $10,950 | - | - | $10,950 |
| Insurance | - | $8,725 | - | $8,725 |
| Payments to Affiliates | - | $7,836 | - | $7,836 |
| Depreciation Depletion | - | $7,666 | - | $7,666 |
| Office Expenses | - | $5,793 | - | $5,793 |
| Payment Travel Entrtnmnt Publicly Ofcl | $2,380 | - | - | $2,380 |
| Interest | - | $741 | - | $741 |
| Total Functional Expenses | $1,574,151 | $332,144 | $0 | $1,906,295 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Expenses per Audited Statements | $1,906,295 |
| Total Expenses per Audited Statements | $1,906,295 |
| Total Expenses per Form 990 | $1,906,295 |
| 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 Item | Amount |
|---|---|
| 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
| Liability | Amount |
|---|---|
| Net Pension Liability | $261,625 |
| Pension Plan Deferments | $244,863 |
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:
“One member of the board is a teacher 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
- 2023-05-15
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Mahrous Kandil
- Formed
- 2018
- Legal Domicile
- Mn
- Voting Board Members
- 5
- Independent Board Members
- 4
- Employees
- 32
- 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 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 2022 was Novation Education Opportunities.”
Financial Statement Notes
Part X, Line 2:
“The Academy is exempt from federal and state income taxes under IRC 501(c)(3). The Academy is subject to tax on income from any unrelated business. The Academy 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 Academy has analyzed tax positions taken for filing with the IRS and state jurisdiction where they operate. The Academy 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 operations, or cash flows. Accordingly, the Academy has not recorded any reserves or related accruals for interest and penalties for uncertain income tax positions at year-end. The Academy is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any open tax periods.”
Raw XML Appendix395 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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| IRS990/Desc | 0 | Quantum STEAM Academy infuses energy into the area of STEAM education, not only to drive an increase in student learning and achievement, but also to stimulate the creative energy through integrating Science, Technology, Engineering, Art, and Mathematics to improve Minnesota and the world in which we live. Quantum STEAM Academy serves grades K-8. |
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| IRS990/MissionDesc | 0 | 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. |
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| IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt | 0 | 2380 |
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| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 0 |
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| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | Pension Plan Deferments |
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| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 244863 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | Net Pension Liability |
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| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | The Academy is exempt from federal and state income taxes under IRC 501(c)(3). The Academy is subject to tax on income from any unrelated business. The Academy 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 Academy has analyzed tax positions taken for filing with the IRS and state jurisdiction where they operate. The Academy 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 operations, or cash flows. Accordingly, the Academy has not recorded any reserves or related accruals for interest and penalties for uncertain income tax positions at year-end. The Academy is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any open tax periods. |
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| IRS990ScheduleE/DiscriminateRaceAthltProgInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEducPlcyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceOtherActyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceSchsInd | 0 | 0 |
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| IRS990ScheduleE/MaintainScholarshipsRecsInd | 0 | 1 |
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| IRS990ScheduleE/PolicyStmtInBrochuresEtcInd | 0 | 1 |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 0 | Nondiscrimination policy is included in registration material. |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 1 | The School receives state and federal aid payments and grants to finance educational services for their students. |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Schedule E, Part I, Line 3 |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Schedule E, Part I, Line 6 |
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | The 990 is prepared by an independent accounting firm and is reviewed by the Board and Director of organization prior to filing. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | Annually each board member completes a required form and discloses any conflicts of interests. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | Current compensation is based on past wages with increases given during the year by the board forming the basis of future years pay. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | Meeting minutes, agendas, and other related information is available on the organization's website or upon request. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | Made an effort to obtain information on compensation, if any, was paid from a related organization. No response received and no transactions noted. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | 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 2022 was Novation Education Opportunities. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | One member of the board is a teacher 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/FormAndLineReferenceDesc | 0 | Form 990, Part VI, Section B, line 11b |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Form 990, Part VI, Section B, line 12c |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990, Part VI, Section B, line 15 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Form 990, Part VI, Section C, line 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | Form 990, Part XI, Line 2C: |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | Related Organization Compensation |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | AUTHORIZER |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | Form 990, Part VI, Section A, Line 1B: |
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| IRS990/SubjectToProxyTaxInd | 0 | 0 |
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| IRS990/TaxExemptBondsInd | 0 | 0 |
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| IRS990/TotalLiabilitiesEOYAmt | 0 | 806307 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 183070 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 806307 |
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| IRS990/UnrelatedBusIncmOverLimitInd | 0 | 0 |
| IRS990/UponRequestInd | 0 | X |
| IRS990/USAddress/AddressLine1Txt | 0 | 497 Humboldt Avenue |
| IRS990/USAddress/CityNm | 0 | St Paul |
| IRS990/USAddress/StateAbbreviationCd | 0 | MN |
| IRS990/USAddress/ZIPCd | 0 | 55107 |
| IRS990/VotingMembersGoverningBodyCnt | 0 | 5 |
| IRS990/VotingMembersIndependentCnt | 0 | 4 |
| IRS990/WebsiteAddressTxt | 0 | qsteamacademy.org |
| IRS990/WhistleblowerPolicyInd | 0 | 1 |
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| ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd | 0 | IAL1 |
| ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd | 0 | 3 |
| ReturnHeader/BuildTS | 0 | 2023-04-26 12:10:37Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | 1 |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | Mahrous Kandil |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | Board Chair |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 6516156888 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2023-05-15 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | Quantum STEAM Academy |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | QUAN |
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| ReturnHeader/Filer/PhoneNum | 0 | 6516156888 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | 497 Humboldt Avenue |
| ReturnHeader/Filer/USAddress/CityNm | 0 | St Paul |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | MN |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 55107 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 411690382 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | Malloy Montague Karnowski Radosevich |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 5353 Wayzata Blvd Ste 410 |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | Minneapolis |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | MN |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 55416 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 9525450424 |
| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2023-05-11 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | Victoria L Holinka |
| ReturnHeader/ReturnTs | 0 | 2023-05-15T16:35:21-05:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
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| ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm | 0 | Kandil |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2021-07-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2022-06-30 |
| ReturnHeader/TaxYr | 0 | 2021 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2022 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $1,536,984
- Liabilities
- $806,307
- Net assets
- $730,677
- Revenue
- $2,490,641
- Expenses
- $1,906,295
- Net income
- $584,346