Civic Intelligence

Teleo University

990 • Fiscal year 2024 • EIN 84-2888085

Jul 01, 2023 to Jun 30, 2024 • Filed on Sep 12, 2024

Organization ProfileWWW.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.

Liabilities / Assets

80th percentile

0.11x

Higher debt load relative to assets than 80% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

73rd percentile

0.03x

Higher debt load relative to revenue than 73% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

28th percentile

-8.3%

Higher net margin than 28% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

97th percentile

$92,716

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 25.5% of source-year revenue.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

17th percentile

-32%

Faster asset growth than 17% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

24th percentile

-22%

Faster revenue growth than 24% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets80th percentile

Assets

Down

$83,875

Down $39,433 (-32%) from 2023

Net Assets

Down

$74,242

Down $45,766 (-38%) from 2023

Liabilities

Up

$9,633

Up $6,333 (+192%) from 2023

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin28th percentile

Revenue

Down

$364,052

Down $101,287 (-22%) from 2023

Expenses

Down

$394,268

Down $45,496 (-10%) from 2023

Net Income

Down

-$30,216

Down $55,791 (-218%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

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

$200K$150K$100K$50K$0Assets 2022: $94,433Liabilities 2022: $0Net Assets 2022: $94,4332022Assets 2023: $123,308Liabilities 2023: $3,300Net Assets 2023: $120,0082023Assets 2024: $83,875Liabilities 2024: $9,633Net Assets 2024: $74,2422024Assets 2025: $169,813Liabilities 2025: $2,000Net Assets 2025: $167,8132025

Highlighted filing

2024

Assets$83,875
Liabilities$9,633
Net Assets$74,242
Open 2024 Filing

Operations Trend

Revenue Growth24th percentile

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

$600K$400K$200K$0-$200KRevenue 2022: $98,160Expenses 2022: $29,829Net Income 2022: $68,3312022Revenue 2023: $465,339Expenses 2023: $439,764Net Income 2023: $25,5752023Revenue 2024: $364,052Expenses 2024: $394,268Net Income 2024: -$30,2162024Revenue 2025: $355,898Expenses 2025: $271,960Net Income 2025: $83,9382025

Highlighted filing

2024

Revenue$364,052
Expenses$394,268
Net Income-$30,216
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Sep 12, 2024
Return Version
2023v5.1
Gross Receipts
$364,052
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
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$123,290$83,855▼ $39,435
Accounts Receivable$18$20▲ $2
Total Assets$123,308$83,875▼ $39,433
Liabilities
Accounts Payable and Accrued Expenses$3,300$9,633▲ $6,333
Total Liabilities$3,300$9,633▲ $6,333
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$120,008$74,242▼ $45,766
Total Net Assets Fund Balance$120,008$74,242▼ $45,766
Total Liabilities and Net Assets / Fund Balance$123,308$83,875▼ $39,433
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Rick EnsrudDean of Student LifePT$92,716$92,716
David DureyPresident CEOFT$60,000$60,000
Jay KlopfensteinChancellor ProfessorPT$57,987$57,987
Joe OlacheaDirector of AdmissionsPT$17,885$17,885

Board Members and Trustees

NameTitle
William JefferisBoard Chairperson
Ron BergetAsia DirectorRetired
Cameron UllyattBoard Member
Dave FleurquinBoard Member
Vince DeaglerSecretary
Brian HerrmanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$316,595
Program Service Revenue
$46,437
Investment Income
$0
Other Revenue
$1,020
All Other Contributions
$316,595
Change in Net Assets
$-30,216
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$318,980
Other Expenses$75,288
Total Fundraising Expense$3,034
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$125,615$71,158$2,665$199,438
Other Salaries and Wages$132$69,467-$69,599
Comp Disqual Persons$4,380$39,420-$43,800
Other Expenses$26,482--$26,482
Information Technology$9,903$13,701$203$23,807
Office Expenses$4,093$5,663$84$9,840
Payroll Taxes$3,499$2,644-$6,143
Insurance$2,322$3,213$48$5,583
Fees for Services Accounting-$5,579-$5,579
Travel$1,663$2,300$34$3,997
Total Functional Expenses$178,089$213,145$3,034$394,268
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Jared KlopfensteinChancellor's SonW-2 Box 1 + housingNo$42,675
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
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 & COO is the son of the Chancellor.”

Part VI Line 11B

“Each board member is emailed the final draft and has appropriate”

Part VI Line 11B

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

Part VI Line 12C

“Completion of annual questionnaire is required. Board members”

Part VI Line 12C

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

Part VI Line 15A or B

“Board discusses compensation at comparable organizations and”

Part VI Line 15A or B

“makes decisions without input or vote from top management.”

Part VI Line 19

“Upon request.”

Filing and Contact Details

Filer

Filer Name
Teleo University
EIN
84-2888085
In Care Of
% DAVID DUREY
Phone
7208860737
Address
7849 W BROADWAY AVE, Minneapolis, MN 55445

Signing Officer

Name
David Durey
Title
President
Phone
7208860737
Signed
2024-09-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Durey
Formed
2019
Legal Domicile
Mn
Voting Board Members
10
Independent Board Members
6
Employees
9
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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IRS990/Form990PartVIISectionAGrp/TitleTxt0Chancellor Professor
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Provost & COO is the son of the Chancellor.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Each board member is emailed the final draft and has appropriate
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2amount of time to review and submit comments and suggestions.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Completion of annual questionnaire is required. Board members
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4are required to report any known conflicts when they become aware of it.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Board discusses compensation at comparable organizations and
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6makes decisions without input or vote from top management.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Part VI Line 2
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ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID DUREY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
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ReturnHeader/BusinessOfficerGrp/SignatureDt02024-09-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TELEO UNIVERSITY
ReturnHeader/Filer/BusinessNameControlTxt0TELE
ReturnHeader/Filer/EIN0842888085
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$83,875
Liabilities
$9,633
Net assets
$74,242
Revenue
$364,052
Expenses
$394,268
Net income
-$30,216
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.70$0.02$1.68$3.56$2.72$0.84
2024Detailed filing. Detailed filing data is available for this year.$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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2024 filings • 501(c)3 • <$500k nonprofits