Civic Intelligence

Innovation Science and Technologyy Academy

990 • Fiscal year 2023 • EIN 84-2942167

Jul 01, 2022 to Jun 30, 2023 • Filed on May 13, 2024

Organization ProfileWWW.INNOVATIONSTA.ORG
3397 Coon Rapids BlvdCoon Rapids, MN 55433

(763) 339-0642

Siviq Scores

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

Liabilities / Assets

95th percentile

1.06x

Higher debt load relative to assets than 95% of similar nonprofits.

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

Liabilities / Revenue

84th percentile

0.70x

Higher debt load relative to revenue than 84% of similar nonprofits.

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

Net Margin

28th percentile

-6.0%

Higher net margin than 28% of similar nonprofits.

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

Top Officer Pay

65th percentile

$95,624

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 8.2% of source-year revenue.

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

Asset Growth

39th percentile

0.7%

Faster asset growth than 39% of similar nonprofits.

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

Revenue Growth

34th percentile

-2.4%

Faster revenue growth than 34% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets95th percentile

Assets

Up

$775,420

Up $5,311 (+0.7%) from 2022

Net Assets

Down

-$45,768

Down $70,845 (-283%) from 2022

Liabilities

Up

$821,188

Up $76,156 (+10%) from 2022

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin28th percentile

Revenue

Down

$1,166,153

Down $28,365 (-2.4%) from 2022

Expenses

Up

$1,236,052

Up $117,551 (+11%) from 2022

Net Income

Down

-$69,899

Down $145,916 (-192%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth39th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2021: $201,552Liabilities 2021: $199,259Net Assets 2021: $2,2932021Assets 2022: $770,109Liabilities 2022: $745,032Net Assets 2022: $25,0772022Assets 2023: $775,420Liabilities 2023: $821,188Net Assets 2023: -$45,7682023Assets 2024: $1,621,395Liabilities 2024: $1,800,139Net Assets 2024: -$178,7442024Assets 2025: $1,899,794Liabilities 2025: $2,315,410Net Assets 2025: -$415,6162025

Highlighted filing

2023

Assets$775,420
Liabilities$821,188
Net Assets-$45,768
Open 2023 Filing

Operations Trend

Revenue Growth34th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2021: $1,047,903Expenses 2021: $1,070,086Net Income 2021: -$22,1832021Revenue 2022: $1,194,518Expenses 2022: $1,118,501Net Income 2022: $76,0172022Revenue 2023: $1,166,153Expenses 2023: $1,236,052Net Income 2023: -$69,8992023Revenue 2024: $2,353,703Expenses 2024: $1,240,108Net Income 2024: $1,113,5952024Revenue 2025: $2,079,946Expenses 2025: $1,523,029Net Income 2025: $556,9172025

Highlighted filing

2023

Revenue$1,166,153
Expenses$1,236,052
Net Income-$69,899
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 13, 2024
Return Version
2022v5.0
Gross Receipts
$1,166,153
Mission and Program Overview

Mission

Innovation science and technology academy charter school will develop talented student innovators using a cutting-edge curriculum with the collaborative support of staff, parents, and community. The collaborative culture and healthy school climate will foster personalized learning, and ignite the power of imagination and creativity in our students, who will grow to be critical thinkers, problem solvers, and agents of change.

To develop student innovators with the collaborative support of all the stakeholders.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$222,431$108,321▼ $114,110
Cash and Non-Interest-Bearing Accounts$22,094$17,328▼ $4,766
Pd in Cap Srpls Land Bldg Eqp Fund$5,099$9,929▲ $4,830
Rtn Earn Endowment Incm Other Fnds$27,541$8,607▼ $18,934
Land, Buildings, and Equipment, Net$5,299--
Prepaid Expenses and Deferred Charges$0$2,843▲ $2,843
Cap Stk Tr Prin Current Funds$-7,563$-64,304▼ $56,741
Total Assets$770,109$775,420▲ $5,311
Other Assets Total$520,285$646,928▲ $126,643
Liabilities
Other Liabilities$549,137$666,597▲ $117,460
Accounts Payable and Accrued Expenses$195,895$154,591▼ $41,304
Total Liabilities$745,032$821,188▲ $76,156
Net Assets / Fund Balance
Total Net Assets Fund Balance$25,077$-45,768▼ $70,845
Total Liabilities and Net Assets / Fund Balance$770,109$775,420▲ $5,311

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$15,034--
Compensation and Service Providers
Top Officer Pay65th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Omotoke OlatoyeExecutive DirectorFT$80,580$15,044$95,624
Abdinasser AhmedSecretaryFT$50,000$4,116$54,116

Board Members and Trustees

NameTitle
Elizabeth JingwaBoard Chair
Adebimpe DijiDirector
Khalid AnsariDirector
Lamya SadiqDirector
Muhammad RasheedDirector
Shukri AhmedDirector
Yien DouthDirector
Miranda AdioTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,166,086
Program Service Revenue
$0
Investment Income
$67
Other Revenue
$0
Change in Net Assets
$-69,899

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,166,153
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,166,153
Total Revenue per Form 990
$1,166,153
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$779,493
Salaries, Compensation, and Employee Benefits$456,559
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$255,415--$255,415
Office Expenses$224,470$5,675-$230,145
Travel$204,189--$204,189
Occupancy$162,979--$162,979
Current Officers, Directors, Trustees, and Key Employees$48,287$96,896-$145,183
Fees for Services Other$72,661$63,916-$136,577
Payroll Taxes$22,672$11,070-$33,742
Pension Plan Contributions$21,263--$21,263
Fees for Services Accounting-$13,020-$13,020
Depreciation Depletion$5,397--$5,397
Conferences and Meetings$5,100--$5,100
Interest$4,830--$4,830
Insurance$2,496--$2,496
Other Employee Benefits$956--$956
Fees for Services Legal-$765-$765
All Other Expenses$2$669-$671
Other Expenses$651$586-$586
Total Functional Expenses$1,043,455$192,597$0$1,236,052

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,240,880
Total Expenses per Form 990$1,236,052
Expenses per Audited Statements$1,230,655
Expenses Not Reported on Form 990$10,225
Expenses Not Reported on Financial Statements$5,397
Other Expense Adjustments$5,397
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$559,386
Pension Deferred Inflows$102,106
Lease Liability$5,105
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
No
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

Form 990, Part VI, Section A, Line 8B

“The school does not have any committees that have authority to act on behalf of the governing body.”

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

“The form 990 is prepared by an independent accounting firm and will be presented to board members at a board meeting for review.”

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

“The conflict of interest policy covers all board members and employees. Conflict is determined to exist if there is use of school resources or influence of school office or employment for private gain or advantage, acceptance of money or valuable gift from anyone other than the school in relation to regular official duties, or employment or financial agreement with a business which has a relationship with the school. If any conflict of interest exists (at any level) it is reviewed by the board at the board meeting. If an actual conflict were to exist, they would be restricted from related activities. The process is documented in meeting minutes.”

Form 990, Part VI, Section C, Line 19

“The school makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Innovation Science & Technology Academy
EIN
84-2942167
Phone
7633390642
Address
3397 COON RAPIDS BLVD, COON RAPIDS, MN 55433
Doing Business As
Innovation Academy

Signing Officer

Name
Dr Omotoke Olatoye
Title
Executive Director
Phone
7633390642
Signed
2024-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Omotoke Olatoye
Formed
2019
Legal Domicile
Mn
Voting Board Members
9
Independent Board Members
8
Employees
18
Volunteers
8

Preparer

Firm
Cliftonlarsonallen Llp
Address
220 S 6TH STREET SUITE 300, MINNEAPOLIS, MN 55402
Preparer
Ann Neil
Phone
6123764500
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Other professional fees: program service expenses 72,661. Management and general expenses 63,916. Fundraising expenses 0. Total expenses 136,577.”

FORM 990, PART XI, LINE 9:

“Change in pension liability -946.”

FORM 990, PART XII, LINE 1: EXPLANATION FOR METHOD OF ACCOUNTING

“The school follows a modified accrual method of accounting as prescribed by the minnesota department of education. The school-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Grants and similar items are recognized when all eligibility requirements imposed by the provider have been met.”

FORM 990, PART XII, LINE 2C:

“The process for oversight and selection of an independent account has not changed from the prior year.”

Financial Statement Notes

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Capitalized expenditures 7,930. Payments on long-term leases 2,295.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Amortization expense 5,397.”

Raw XML AppendixShowing 400 of 440 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt0195895
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0154591
IRS990/AccountsReceivableGrp/BOYAmt0222431
IRS990/AccountsReceivableGrp/EOYAmt0108321
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0TO DEVELOP STUDENT INNOVATORS WITH THE COLLABORATIVE SUPPORT OF ALL THE STAKEHOLDERS.
IRS990/AddressChangeInd0X
IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt0669
IRS990/AllOtherExpensesGrp/ProgramServicesAmt02
IRS990/AllOtherExpensesGrp/TotalAmt0671
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0DR OMOTOKE OLATOYE
IRS990/BooksInCareOfDetail/PhoneNum07633390642
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt03397 COON RAPIDS BLVD NW
IRS990/BooksInCareOfDetail/USAddress/CityNm0COON RAPIDS
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MN
IRS990/BooksInCareOfDetail/USAddress/ZIPCd055433
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt0-7563
IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt0-64304
IRS990/CashNonInterestBearingGrp/BOYAmt022094
IRS990/CashNonInterestBearingGrp/EOYAmt017328
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt096896
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt048287
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0145183
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd00
IRS990/CompensationProcessOtherInd00
IRS990/ConferencesMeetingsGrp/ProgramServicesAmt05100
IRS990/ConferencesMeetingsGrp/TotalAmt05100
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt01166086
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt067
IRS990/CYOtherExpensesAmt0779493
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt00
IRS990/CYRevenuesLessExpensesAmt0-69899
IRS990/CYSalariesCompEmpBnftPaidAmt0456559
IRS990/CYTotalExpensesAmt01236052
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt01166153
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/ProgramServicesAmt05397
IRS990/DepreciationDepletionGrp/TotalAmt05397
IRS990/Desc0INNOVATION SCIENCE AND TECHNOLOGY ACADEMY CHARTER SCHOOL, A STEM-FOCUSED, HIGH-QUALITY CHARTER SCHOOL, IS HIGHLY COMMITTED TO DEVELOPING GLOBALLY CONSCIOUS STUDENT INNOVATORS IN A SMALL CLASS SIZE SETTING USING A RIGOROUS AND AN INNOVATIVE PERSONALIZED LEARNING CURRICULUM WITH THE COLLABORATIVE SUPPORT OF OUR PARENTS AND COMMUNITY.INNOVATION ACADEMY IS HIGHLY COMMITTED TO HELPING OUR SCHOLARS DEVELOP THE HABITS OF SUCCESS, CRITICAL THINKING SKILLS, PROBLEM SOLVING SKILLS, AND A SENSE OF IMAGINATION NEEDED TO THRIVE IN THE 21ST CENTURY AND BEYOND.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DoingBusinessAsName/BusinessNameLine1Txt0INNOVATION ACADEMY
IRS990/DonorAdvisedFundInd00
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt018
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt01043455
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt013020
IRS990/FeesForServicesAccountingGrp/TotalAmt013020
IRS990/FeesForServicesLegalGrp/ManagementAndGeneralAmt0765
IRS990/FeesForServicesLegalGrp/TotalAmt0765
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt063916
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt072661
IRS990/FeesForServicesOtherGrp/TotalAmt0136577
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt042.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt12.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt22.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt32.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt42.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt52.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt62.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt72.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt82.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt940.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt04116
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt915044
IRS990/Form990PartVIISectionAGrp/PersonNm0ABDINASSER AHMED
IRS990/Form990PartVIISectionAGrp/PersonNm1MIRANDA ADIO
IRS990/Form990PartVIISectionAGrp/PersonNm2ELIZABETH JINGWA
IRS990/Form990PartVIISectionAGrp/PersonNm3LAMYA SADIQ
IRS990/Form990PartVIISectionAGrp/PersonNm4ADEBIMPE DIJI
IRS990/Form990PartVIISectionAGrp/PersonNm5KHALID ANSARI
IRS990/Form990PartVIISectionAGrp/PersonNm6YIEN DOUTH
IRS990/Form990PartVIISectionAGrp/PersonNm7MUHAMMAD RASHEED
IRS990/Form990PartVIISectionAGrp/PersonNm8SHUKRI AHMED
IRS990/Form990PartVIISectionAGrp/PersonNm9OMOTOKE OLATOYE
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt050000
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt980580
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/TitleTxt0SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9EXECUTIVE DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02019
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt09
IRS990/GovernmentGrantsAmt01166086
IRS990/GrantAmt00
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt01166153
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt08
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InsuranceGrp/ProgramServicesAmt02496
IRS990/InsuranceGrp/TotalAmt02496
IRS990/InterestGrp/ProgramServicesAmt04830
IRS990/InterestGrp/TotalAmt04830
IRS990/InvestmentIncomeGrp/ExclusionAmt067
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt067
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt09
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipBasisNetGrp/BOYAmt05299
IRS990/LandBldgEquipCostOrOtherBssAmt00
IRS990/LegalDomicileStateCd0MN
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingOtherInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0INNOVATION SCIENCE AND TECHNOLOGY ACADEMY CHARTER SCHOOL WILL DEVELOP TALENTED STUDENT INNOVATORS USING A CUTTING-EDGE CURRICULUM WITH THE COLLABORATIVE SUPPORT OF STAFF, PARENTS, AND COMMUNITY. THE COLLABORATIVE CULTURE AND HEALTHY SCHOOL CLIMATE WILL FOSTER PERSONALIZED LEARNING, AND IGNITE THE POWER OF IMAGINATION AND CREATIVITY IN OUR STUDENTS, WHO WILL GROW TO BE CRITICAL THINKERS, PROBLEM SOLVERS, AND AGENTS OF CHANGE.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt025077
IRS990/NetAssetsOrFundBalancesEOYAmt0-45768
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt0162979
IRS990/OccupancyGrp/TotalAmt0162979
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt05675
IRS990/OfficeExpensesGrp/ProgramServicesAmt0224470
IRS990/OfficeExpensesGrp/TotalAmt0230145
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0520285
IRS990/OtherAssetsTotalGrp/EOYAmt0646928
IRS990/OtherChangesInNetAssetsAmt0-946
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0956
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0956
IRS990/OtherExpensesGrp/Desc0SPECIAL EDUCATION
IRS990/OtherExpensesGrp/Desc1SHORT TERM LEASE PAYMEN
IRS990/OtherExpensesGrp/Desc2DUES MEMBERSHIPS, AND L
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0586
IRS990/OtherExpensesGrp/ProgramServicesAmt012087
IRS990/OtherExpensesGrp/ProgramServicesAmt1651
IRS990/OtherExpensesGrp/TotalAmt012087
IRS990/OtherExpensesGrp/TotalAmt1651
IRS990/OtherExpensesGrp/TotalAmt2586
IRS990/OtherLiabilitiesGrp/BOYAmt0549137
IRS990/OtherLiabilitiesGrp/EOYAmt0666597
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0255415
IRS990/OtherSalariesAndWagesGrp/TotalAmt0255415
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt011070
IRS990/PayrollTaxesGrp/ProgramServicesAmt022672
IRS990/PayrollTaxesGrp/TotalAmt033742
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt05099
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt09929
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt021263
IRS990/PensionPlanContributionsGrp/TotalAmt021263
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02843
IRS990/PrincipalOfficerNm0DR OMOTOKE OLATOYE
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01194469
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt049
IRS990/PYOtherExpensesAmt0531154
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt076017
IRS990/PYSalariesCompEmpBnftPaidAmt0587347
IRS990/PYTotalExpensesAmt01118501
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01194518
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-69899
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt027541
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt08607
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/ExpensesNotReportedAmt010225
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt05397
IRS990ScheduleD/ExpensesSubtotalAmt01230655
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0631894
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt115034
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEFERRED PENSION OUTFLOWS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RIGHT-TO-USE LEASE EQUIPMENT, NET
IRS990ScheduleD/OtherExpensesIncludedAmt010225
IRS990ScheduleD/OtherExpensesNotIncludedAmt05397
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0102106
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1559386
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt25105
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PENSION DEFERRED INFLOWS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NET PENSION LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2LEASE LIABILITY
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01166153
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CAPITALIZED EXPENDITURES 7,930. PAYMENTS ON LONG-TERM LEASES 2,295.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1AMORTIZATION EXPENSE 5,397.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0646928
IRS990ScheduleD/TotalExpensesPerForm990Amt01236052
IRS990ScheduleD/TotalLiabilityAmt0666597
IRS990ScheduleD/TotalRevenuePerForm990Amt01166153
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01166153
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01240880
IRS990ScheduleE/ComplianceWithRevProc7550Ind00
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/PlcyPblczdViaBroadcastMediaInd00
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL'S NON-DISCRIMINATION POLICY IS PUBLISHED ON THEIR WEBSITE, BUT NOT ON THE ORGANIZATION'S HOMEPAGE. IT CAN ALSO BE FOUND IN THE STUDENT HANDBOOK.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL RECEIVES FEDERAL AND STATE FUNDING.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE SCHOOL'S NON-DISCRIMINATION POLICY IS PUBLISHED ON THEIR WEBSITE, BUT NOT ON THE ORGANIZATION'S HOMEPAGE. IT CAN ALSO BE FOUND IN THE STUDENT HANDBOOK.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, PART I, LINE 7
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND WILL BE PRESENTED TO BOARD MEMBERS AT A BOARD MEETING FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST POLICY COVERS ALL BOARD MEMBERS AND EMPLOYEES. CONFLICT IS DETERMINED TO EXIST IF THERE IS USE OF SCHOOL RESOURCES OR INFLUENCE OF SCHOOL OFFICE OR EMPLOYMENT FOR PRIVATE GAIN OR ADVANTAGE, ACCEPTANCE OF MONEY OR VALUABLE GIFT FROM ANYONE OTHER THAN THE SCHOOL IN RELATION TO REGULAR OFFICIAL DUTIES, OR EMPLOYMENT OR FINANCIAL AGREEMENT WITH A BUSINESS WHICH HAS A RELATIONSHIP WITH THE SCHOOL. IF ANY CONFLICT OF INTEREST EXISTS (AT ANY LEVEL) IT IS REVIEWED BY THE BOARD AT THE BOARD MEETING. IF AN ACTUAL CONFLICT WERE TO EXIST, THEY WOULD BE RESTRICTED FROM RELATED ACTIVITIES. THE PROCESS IS DOCUMENTED IN MEETING MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 72,661. MANAGEMENT AND GENERAL EXPENSES 63,916. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 136,577.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CHANGE IN PENSION LIABILITY -946.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE SCHOOL FOLLOWS A MODIFIED ACCRUAL METHOD OF ACCOUNTING AS PRESCRIBED BY THE MINNESOTA DEPARTMENT OF EDUCATION. THE SCHOOL-WIDE FINANCIAL STATEMENTS ARE REPORTED USING THE ECONOMIC RESOURCES MEASUREMENT FOCUS AND THE ACCRUAL BASIS OF ACCOUNTING. GRANTS AND SIMILAR ITEMS ARE RECOGNIZED WHEN ALL ELIGIBILITY REQUIREMENTS IMPOSED BY THE PROVIDER HAVE BEEN MET.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNT HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
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 C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 1: EXPLANATION FOR METHOD OF ACCOUNTING
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0770109
IRS990/TotalAssetsEOYAmt0775420
IRS990/TotalAssetsGrp/BOYAmt0770109
IRS990/TotalAssetsGrp/EOYAmt0775420
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01166086
IRS990/TotalEmployeeCnt018
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0192597
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01043455
IRS990/TotalFunctionalExpensesGrp/TotalAmt01236052
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0745032
IRS990/TotalLiabilitiesEOYAmt0821188
IRS990/TotalLiabilitiesGrp/BOYAmt0745032
IRS990/TotalLiabilitiesGrp/EOYAmt0821188
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt025077
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-45768
IRS990/TotalOtherCompensationAmt019160
IRS990/TotalProgramServiceExpensesAmt01043455
IRS990/TotalReportableCompFromOrgAmt0130580
IRS990/TotalRevenueGrp/ExclusionAmt067
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01166153
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0770109
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0775420
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0204189
IRS990/TravelGrp/TotalAmt0204189
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03397 COON RAPIDS BLVD
IRS990/USAddress/CityNm0COON RAPIDS

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
$775,420
Liabilities
$821,188
Net assets
-$45,768
Revenue
$1,166,153
Expenses
$1,236,052
Net income
-$69,899
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.90$2.32$0.42$2.08$1.52$0.56
2024Detailed filing. Detailed filing data is available for this year.$1.62$1.80$0.18$2.35$1.24$1.11
2023Detailed filing. Detailed filing data is available for this year.$0.78$0.82$0.05$1.17$1.24$0.07
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.77$0.75$0.03$1.19$1.12$0.08
2021Detailed filing. Detailed filing data is available for this year.$0.20$0.20$0.00$1.05$1.07$0.02