Civic Intelligence

Steam Academy

990 • Fiscal year 2023 • EIN 83-2162621

Jul 01, 2022 to Jun 30, 2023 • Filed on May 06, 2024

4100 66th Street EastInver Grove Heights, MN 55076

(651) 236-8280

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.89x

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

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

Liabilities / Revenue

77th percentile

0.41x

Higher debt load relative to revenue than 77% of similar nonprofits.

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

Net Margin

18th percentile

-17%

Higher net margin than 18% of similar nonprofits.

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

Top Officer Pay

46th percentile

$44,242

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 3.3% of source-year revenue.

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

Asset Growth

93rd percentile

81%

Faster asset growth than 93% of similar nonprofits.

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

Revenue Growth

48th percentile

5.7%

Faster revenue growth than 48% of similar nonprofits.

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

Assets

Up

$624,612

Up $279,446 (+81%) from 2022

Net Assets

Down

$66,434

Down $226,301 (-77%) from 2022

Liabilities

Up

$558,178

Up $505,747 (+965%) from 2022

Revenue

Up

$1,356,101

Up $72,922 (+5.7%) from 2022

Expenses

Up

$1,582,402

Up $591,958 (+60%) from 2022

Net Income

Down

-$226,301

Down $519,036 (-177%) from 2022

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0-$500KAssets 2022: $345,166Liabilities 2022: $52,431Net Assets 2022: $292,7352022Assets 2023: $624,612Liabilities 2023: $558,178Net Assets 2023: $66,4342023Assets 2024: $780,394Liabilities 2024: $868,723Net Assets 2024: -$88,3292024

Highlighted filing

2023

Assets$624,612
Liabilities$558,178
Net Assets$66,434

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2022: $1,283,179Expenses 2022: $990,444Net Income 2022: $292,7352022Revenue 2023: $1,356,101Expenses 2023: $1,582,402Net Income 2023: -$226,3012023Revenue 2024: $1,233,846Expenses 2024: $1,388,609Net Income 2024: -$154,7632024

Highlighted filing

2023

Revenue$1,356,101
Expenses$1,582,402
Net Income-$226,301
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 6, 2024
Return Version
2022v5.0
Gross Receipts
$1,356,101
Mission and Program Overview

Mission

STEAM Academy embraces a multidisciplinary curriculum with an emphasis on Science, Technology, Engineering, Arts, and Mathematics (STEAM) to provide a learning-for-understanding environment which values personal and community accountability, creativity, diversity, critical thinking, and multiculturalism. We believe that schools can prepare their students for greater understanding of profound issues through collaboration, critical thinking and problem solving. We believe this is possible when learning is done with purpose.

STEAM Academy embraces a multidisciplinary curriculum with an emphasis on Science, Technology, Engineering, Arts, and Mathematics (STEAM) to provide a learning-for-understanding environment which values personaland community accountability, creativity, diversity, critical Technology, Engineering, Arts, and Mathematics (STEAM) to provide a learning-for-understanding environment which values personal and community accountability, creativity, diversity, critical thinking, and multiculturalism. We believe that schools can prepare their studentsfor greater understanding of profound issues through collaboration, critical thinking and problem solving. We believe this is possible when learning is done with purpose.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$101,263$223,847▲ $122,584
Cash and Non-Interest-Bearing Accounts$111,582$126,047▲ $14,465
Pledges and Grants Receivable$68,665$87,378▲ $18,713
Land, Buildings, and Equipment, Net$0$72,131▲ $72,131
Prepaid Expenses and Deferred Charges$47,477--
Total Assets$345,166$624,612▲ $279,446
Other Assets Total$16,179$115,209▲ $99,030
Liabilities
Accounts Payable and Accrued Expenses$52,431$247,297▲ $194,866
Other Liabilities$0$223,597▲ $223,597
Deferred Revenue-$87,284-
Total Liabilities$52,431$558,178▲ $505,747
Net Assets / Fund Balance
Net Assets With Donor Restrictions$14,995$72,131▲ $57,136
Net Assets Without Donor Restrictions$277,740$-5,697▼ $283,437
Total Net Assets Fund Balance$292,735$66,434▼ $226,301
Total Liabilities and Net Assets / Fund Balance$345,166$624,612▲ $279,446

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$72,131$9,881$82,012
Other Assets Org$115,209--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Makia JamaMember/TeacherFT$39,658$4,584$44,242

Board Members and Trustees

NameTitle
Sarah ChebliChair
Hamada AboubakrVice Chair
Amina AdanExecutive Director
Maryam ArabSecretary
Mahdi NurTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Pride TransportationTransportation45 Ivy Avenue W, St Paul, MN 55117$137,137
Students Prepared to SucceedCharter Management Organization Service2303 Wycliff Street Suite W-100, St Paul, MN 55114$130,070
Revenue and Support

Revenue Composition

Contributions and Grants
$1,344,566
Program Service Revenue
$137
Investment Income
$0
Other Revenue
$11,398
All Other Contributions
$2,500
Change in Net Assets
$-226,301

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,346,671
Revenue Not Reported on Financial Statements
$9,430
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$9,430
Total Revenue per Audited Statements
$1,346,671
Total Revenue per Form 990
$1,356,101
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$953,937
Salaries, Compensation, and Employee Benefits$628,465
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$133,707$185,608-$319,315
Other Salaries and Wages$311,666$7,036-$318,702
Travel$249,542--$249,542
Pension Plan Contributions$147,467$22,207-$169,674
Occupancy$127,479--$127,479
Information Technology$66,937$8,698-$75,635
Other Employee Benefits$71,374$2,148-$73,522
Current Officers, Directors, Trustees, and Key Employees$35,310$797-$36,107
Payroll Taxes$28,875$1,585-$30,460
Fees for Services Accounting-$22,300-$22,300
Depreciation Depletion$6,335$3,546-$9,881
Other Expenses$8,291$8,097-$8,291
Insurance$3,980--$3,980
Total Functional Expenses$1,307,274$275,128$0$1,582,402

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,582,402
Total Expenses per Form 990$1,582,402
Total Expenses per Audited Statements$1,572,972
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$-9,430
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
Net pension liability$223,597
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, line 3

Students Prepared to Succeed provided an Executive Director and support with recruitment, staffing, finances, grants, and other operations. Amina Adan, Executive Director, was listed in Part VII, Section A and was compensated $70,000 by Students Prepared to Succeed for services provided to STEAM Academy during the year.

Form 990, Part VI, Section B, line 11B

The Form 990 is prepared by an independent accounting firm and reviewed by the school's management. The reviewed draft of the Form 990 is provided to the board prior to filing with the IRS.

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

The Organization annually evaluates all conflict of interest policies submitted by board members and employees. The Organization's policies are communicated annually to the board and employees and to new board members and employees upon joining the Organization.

Form 990, Part VI, Section B, line 15A

Compensation is set by the Board of Directors based on the position, market, and experience.

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
STEAM Academy
EIN
83-2162621
Phone
6512368280
Address
4100 66th Street East, Inver Grove Heights, MN 55076

Signing Officer

Name
Sarah Chebli
Title
Board Chair
Phone
6512368280
Signed
2024-05-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sarah Chebli
Formed
2018
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
4
Employees
17
Volunteers
4

Preparer

Firm
Abdo LLP
Address
5201 Eden Ave Ste 250, Edina, MN 55436
Preparer
Steven D Anseth CPA
Phone
9528359090
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

Consultation fees : Program service expenses 20,792. Management and general expenses 117,481. Fundraising expenses 0. Total expenses 138,273. Contracted Services: Program service expenses 112,915. Management and general expenses 68,127. Fundraising expenses 0. Total expenses 181,042.

Form 990, Part XII, Line 2C:

The process has not changed from the prior year.

Financial Statement Notes

Part X, Line 2:

The Charter School is exempt from federal and state income taxes under Section 501(c)(3) of the Internal Revenue Code and similar state income tax laws. The Organization is not a private foundation and contributions to the Charter School qualify as a charitable tax deduction by the contributor. The Organization has evaluated and determined that there are no uncertain tax positions as of June 30, 2023. The Association's tax returns are subject to possible examination by the taxing authorities.

Part XI, Line 4B - Other Adjustments:

Negative pension expense reclassified to revenues

Part XII, Line 2D - Other Adjustments:

Negative pension expense reclassified to revenues

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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0137
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0137
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01250821
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0734715
IRS990/PYOtherRevenueAmt032358
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0292735
IRS990/PYSalariesCompEmpBnftPaidAmt0255729
IRS990/PYTotalExpensesAmt0990444
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01283179
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-226301
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0137
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt072131
IRS990ScheduleD/EquipmentGrp/DepreciationAmt09881
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt082012
IRS990ScheduleD/ExpensesNotReportedAmt0-9430
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01582402
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0115209
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deferred pension resources
IRS990ScheduleD/OtherExpensesIncludedAmt0-9430
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0223597
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Net pension liability
IRS990ScheduleD/OtherRevenuesNotIncludedAmt09430
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt09430
IRS990ScheduleD/RevenueSubtotalAmt01346671
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Charter School is exempt from federal and state income taxes under Section 501(c)(3) of the Internal Revenue Code and similar state income tax laws. The Organization is not a private foundation and contributions to the Charter School qualify as a charitable tax deduction by the contributor. The Organization has evaluated and determined that there are no uncertain tax positions as of June 30, 2023. The Association's tax returns are subject to possible examination by the taxing authorities.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Negative pension expense reclassified to revenues
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Negative pension expense reclassified to revenues
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XI, Line 4b - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XII, Line 2d - Other Adjustments:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt072131
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0115209
IRS990ScheduleD/TotalExpensesPerForm990Amt01582402
IRS990ScheduleD/TotalLiabilityAmt0223597
IRS990ScheduleD/TotalRevenuePerForm990Amt01356101
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01346671
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01572972
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0Policies are posted on the website and send to MDE yearly along with Charter School Assurances.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1The school receives federal and state funding.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 6 - Explanation of Government Financial Aid:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Students Prepared to Succeed provided an Executive Director and support with recruitment, staffing, finances, grants, and other operations. Amina Adan, Executive Director, was listed in Part VII, Section A and was compensated $70,000 by Students Prepared to Succeed for services provided to STEAM Academy during the year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Form 990 is prepared by an independent accounting firm and reviewed by the school's management. The reviewed draft of the Form 990 is provided to the board prior to filing with the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Organization annually evaluates all conflict of interest policies submitted by board members and employees. The Organization's policies are communicated annually to the board and employees and to new board members and employees upon joining the Organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Compensation is set by the Board of Directors based on the position, market, and experience.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Consultation fees : Program service expenses 20,792. Management and general expenses 117,481. Fundraising expenses 0. Total expenses 138,273. Contracted Services: Program service expenses 112,915. Management and general expenses 68,127. Fundraising expenses 0. Total expenses 181,042.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The process has not changed from the prior year.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part XII, Line 2c:
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0345166
IRS990/TotalAssetsEOYAmt0624612
IRS990/TotalAssetsGrp/BOYAmt0345166
IRS990/TotalAssetsGrp/EOYAmt0624612
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01344566
IRS990/TotalEmployeeCnt017
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0275128
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01307274
IRS990/TotalFunctionalExpensesGrp/TotalAmt01582402
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt052431
IRS990/TotalLiabilitiesEOYAmt0558178
IRS990/TotalLiabilitiesGrp/BOYAmt052431
IRS990/TotalLiabilitiesGrp/EOYAmt0558178
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0292735
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt066434
IRS990/TotalOtherCompensationAmt04584
IRS990/TotalProgramServiceExpensesAmt01307274
IRS990/TotalProgramServiceRevenueAmt0137
IRS990/TotalReportableCompFromOrgAmt039658
IRS990/TotalRevenueGrp/ExclusionAmt011398
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0137
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01356101
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0345166
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0624612
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0249542
IRS990/TravelGrp/TotalAmt0249542
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04100 66th Street East
IRS990/USAddress/CityNm0Inver Grove Heights
IRS990/USAddress/StateAbbreviationCd0MN

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