Teleo University

990 • Fiscal year 2023 • EIN 84-2888085

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

Organization Profile WWW.TELEOUNIVERSITY.ORG

7849 W Broadway AveMinneapolis, MN 55445

(720) 886-0737

Siviq Scores

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

0.03x

Higher debt load relative to assets than 72% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

0.01x

Higher debt load relative to revenue than 65% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

5.5%

Higher net margin than 54% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

$83,692

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 18.0% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

31%

Faster asset growth than 79% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

374%

Faster revenue growth than 97% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet

Liabilities / Assets72nd percentile

Assets

$123,308

Up $28,875 (+31%) from 2022

Net Assets

$120,008

Up $25,575 (+27%) from 2022

Liabilities

$3,300

Up $3,300 from 2022

Revenue And Expenses

Liabilities / Revenue65th percentile Net Margin54th percentile

Revenue

$465,339

Up $367,179 (+374%) from 2022

Expenses

$439,764

Up $409,935 (+1374%) from 2022

Net Income

Down

$25,575

Down $42,756 (-63%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth79th percentile

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

Highlighted filing

2023

Assets$123,308

Liabilities$3,300

Net Assets$120,008

Open 2023 Filing

Operations Trend

Revenue Growth97th percentile

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

Highlighted filing

2023

Revenue$465,339

Expenses$439,764

Net Income$25,575

Open 2023 Filing

Jump To

Filing Snapshot

Filing Period: Jul 1, 2022 to Jun 30, 2023
Signed: Sep 14, 2023
Return Version: 2022v5.0
Gross Receipts: $465,339

Mission and Program Overview

Mission

To provide affordable, accessible, accredited education to pastors and leaders to finish the great commission by multiplying disciple makers.

to provide affordable accessible accredited education to pastors and leaders to finish the Great Commission by multiplying disciple makers

Balance Sheet Detail

Line	Beginning	End	Change
Assets
Cash and Non-Interest-Bearing Accounts	$94,433	$123,290	▲ $28,857
Accounts Receivable	-	$18	-
Total Assets	$94,433	$123,308	▲ $28,875
Liabilities
Accounts Payable and Accrued Expenses	-	$3,300	-
Total Liabilities	$0	$3,300	▲ $3,300
Net Assets / Fund Balance
Net Assets Without Donor Restrictions	$94,433	$120,008	▲ $25,575
Total Net Assets Fund Balance	$94,433	$120,008	▲ $25,575
Total Liabilities and Net Assets / Fund Balance	$94,433	$123,308	▲ $28,875

Compensation and Service Providers

Top Officer Pay97th percentile

Employees

Name	Title	Full / Part Time	Base	Total
Rick Ensrud	Dean of Student Life	PT	$83,692	$83,692
David Durey	President CEO	FT	$55,000	$55,000
Jay Klopfenstein	Chancellor Professor	PT	$52,021	$52,021
Ron Berget	Asia DirectorRetired	PT	$21,032	$21,032
Joe Olachea	Director of Admissions	PT	$16,796	$16,796

Board Members and Trustees

Name	Title
William Jefferis	Board Chairperson
Cameron Ullyatt	Board Member
Dave Fleurquin	Board Member
Vince Deagler	Secretary
Brian Herrman	Treasurer

Revenue and Support

Revenue Composition

Contributions and Grants: $354,094
Program Service Revenue: $95,691
Investment Income: $0
Other Revenue: $15,554
All Other Contributions: $354,094
Change in Net Assets: $25,575

Expenses and Functional Allocation

Major Expense Lines

Line Item	Amount
Salaries, Compensation, and Employee Benefits	$353,994
Other Expenses	$85,770
Total Fundraising Expense	$3,084
Grants and Similar Amounts Paid	$0
Professional Fundraising Fees	$0

Functional Expense Allocation

Line Item	Program	Management	Fundraising	Total
Current Officers, Directors, Trustees, and Key Employees	$163,577	$62,213	$2,750	$228,540
Other Salaries and Wages	$46,240	$27,521	-	$73,761
Comp Disqual Persons	$3,515	$31,635	-	$35,150
Information Technology	$12,841	$7,306	$166	$20,313
Office Expenses	$10,542	$5,997	$136	$16,675
Payroll Taxes	$11,646	$4,897	-	$16,543
Fees for Services Accounting	-	$5,100	-	$5,100
Travel	$2,500	$1,422	$32	$3,954
Other Expenses	$9,100	$310	-	$310
Total Functional Expenses	$290,279	$146,401	$3,084	$439,764

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

Insider Transactions and Loans

Interested-Person Transactions

Interested Party	Relationship	Description	Shared Revenue	Amount
Jared Klopfenstein	Chancellors son	W-2 earnings	No	$35,150

Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant: Yes
Annual disclosure for covered persons: Yes
Audit committee: No
Backup withholding compliance: No
Business relationship with 35% controlled entity: No
Business relationship with family members: Yes
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: No

Governance Explanations

Part VI Line 2

“Provost & Chief Operating Officer is the son of the Chancellor”

Part VI Line 11B

“Each Board Member was emailed the final draft and had appropriate”

Part VI Line 11B

“amount of time to review and submit comments & suggestions.”

Part VI Line 12C

“Completion of Annual Questionnaire is required. Board Members are”

Part VI Line 12C

“required to report any known conflicts when they become aware of it.”

Part VI Line 19

“Upon request”

Filing and Contact Details

Filer

Filer Name: Teleo University
EIN: 84-2888085
In Care Of: % David Durey
Address: 7849 W BROADWAY AVE, Minneapolis, MN 55445

Signing Officer

Name: David Durey
Title: President and CEO
Phone: 7208860737
Signed: 2023-09-14
Discuss with paid preparer: Yes

Organization Details

Principal Officer: David Durey
Formed: 2019
Legal Domicile: Mn
Voting Board Members: 10
Independent Board Members: 5
Employees: 10
Volunteers: 1

Preparer

Firm: Alan M Lane CPA
Address: 807 Legion St A14, Craig, CO 81625
Preparer: Alan M Lane
Phone: 7192900522

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IRS990ScheduleL/DisqualifiedPersonExBnftTrGrp/TransactionCorrectedInd	0	false
IRS990ScheduleL/DisqualifiedPersonExBnftTrGrp/TransactionCorrectedInd	1	false
IRS990ScheduleL/DisqualifiedPersonExBnftTrGrp/TransactionCorrectedInd	2	false
IRS990ScheduleL/DisqualifiedPersonExBnftTrGrp/TransactionCorrectedInd	3	false
IRS990ScheduleL/DisqualifiedPersonExBnftTrGrp/TransactionCorrectedInd	4	false
IRS990ScheduleL/DisqualifiedPersonExBnftTrGrp/TransactionCorrectedInd	5	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd	0	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd	1	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd	2	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd	3	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd	4	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd	5	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd	6	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd	7	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd	8	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd	9	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd	0	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd	1	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd	2	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd	3	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd	4	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd	5	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd	6	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd	7	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd	8	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd	9	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd	0	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd	1	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd	2	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd	3	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd	4	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd	5	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd	6	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd	7	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd	8	false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd	9	false
IRS990/ScheduleORequiredInd	0	true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	0	Provost & Chief Operating Officer is the son of the Chancellor
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	1	Each Board Member was emailed the final draft and had appropriate
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	2	amount of time to review and submit comments & suggestions.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	3	Completion of Annual Questionnaire is required. Board Members are
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	4	required to report any known conflicts when they become aware of it.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	5	Upon request
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	0	Part VI Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	1	Part VI Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	2	Part VI Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	3	Part VI Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	4	Part VI Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	5	Part VI Line 19
IRS990/SchoolOperatingInd	0	true
IRS990/SignificantChangeInd	0	false
IRS990/SignificantNewProgramSrvcInd	0	false
IRS990/SubjectToExcsTaxNetInvstIncInd	0	false
IRS990/SubjectToProxyTaxInd	0	false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd	0	false
IRS990/TaxablePartyNotificationInd	0	false
IRS990/TaxExemptBondsInd	0	false
IRS990/TerminateOperationsInd	0	false
IRS990/TotalAssetsBOYAmt	0	94433
IRS990/TotalAssetsEOYAmt	0	123308
IRS990/TotalAssetsGrp/BOYAmt	0	94433
IRS990/TotalAssetsGrp/EOYAmt	0	123308
IRS990/TotalCompGreaterThan150KInd	0	false
IRS990/TotalContributionsAmt	0	354094
IRS990/TotalEmployeeCnt	0	10
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt	0	3084
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt	0	146401
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt	0	290279
IRS990/TotalFunctionalExpensesGrp/TotalAmt	0	439764
IRS990/TotalGrossUBIAmt	0	0
IRS990/TotalLiabilitiesEOYAmt	0	3300
IRS990/TotalLiabilitiesGrp/BOYAmt	0	0
IRS990/TotalLiabilitiesGrp/EOYAmt	0	3300
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt	0	94433
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt	0	120008
IRS990/TotalProgramServiceExpensesAmt	0	290279
IRS990/TotalProgramServiceRevenueAmt	0	95691
IRS990/TotalReportableCompFromOrgAmt	0	228541
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt	0	111245
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt	0	465339
IRS990/TotalVolunteersCnt	0	1
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt	0	94433
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt	0	123308
IRS990/TravelGrp/FundraisingAmt	0	32
IRS990/TravelGrp/ManagementAndGeneralAmt	0	1422
IRS990/TravelGrp/ProgramServicesAmt	0	2500
IRS990/TravelGrp/TotalAmt	0	3954
IRS990/TrnsfrExmptNonChrtblRltdOrgInd	0	false
IRS990/TypeOfOrganizationCorpInd	0	X
IRS990/UnrelatedBusIncmOverLimitInd	0	false
IRS990/UponRequestInd	0	X
IRS990/USAddress/AddressLine1Txt	0	7849 W BROADWAY AVE
IRS990/USAddress/CityNm	0	MINNEAPOLIS
IRS990/USAddress/StateAbbreviationCd	0	MN
IRS990/USAddress/ZIPCd	0	55445
IRS990/VotingMembersGoverningBodyCnt	0	10
IRS990/VotingMembersIndependentCnt	0	5
IRS990/WebsiteAddressTxt	0	WWW.TELEOUNIVERSITY.ORG
IRS990/WhistleblowerPolicyInd	0	false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd	0	AAL2
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd	0	IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd	0	2
ReturnHeader/BuildTS	0	2023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd	0	true
ReturnHeader/BusinessOfficerGrp/PersonNm	0	DAVID DUREY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt	0	President and CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum	0	7208860737
ReturnHeader/BusinessOfficerGrp/SignatureDt	0	2023-09-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt	0	TELEO UNIVERSITY
ReturnHeader/Filer/BusinessNameControlTxt	0	TELE
ReturnHeader/Filer/EIN	0	842888085
ReturnHeader/Filer/InCareOfNm	0	% David Durey
ReturnHeader/Filer/USAddress/AddressLine1Txt	0	7849 W BROADWAY AVE
ReturnHeader/Filer/USAddress/CityNm	0	Minneapolis
ReturnHeader/Filer/USAddress/StateAbbreviationCd	0	MN
ReturnHeader/Filer/USAddress/ZIPCd	0	55445
ReturnHeader/IRSResponsiblePrtyInfoCurrInd	0	false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN	0	823433112
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt	0	Alan M Lane CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt	0	807 Legion St A14
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm	0	Craig
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd	0	CO

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing

Assets: $123,308
Liabilities: $3,300
Net assets: $120,008
Revenue: $465,339
Expenses: $439,764
Net income: $25,575

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2025Detailed filing. Detailed filing data is available for this year.	$1.70	$0.02	$1.68	$3.56	$2.72	$0.84
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$0.84	$0.10	$0.74	$3.64	$3.94	$0.30
2023Detailed filing. Detailed filing data is available for this year.	$1.23	$0.03	$1.20	$4.65	$4.40	$0.26
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$0.94	$0.00	$0.94	$0.98	$0.30	$0.68