Civic Intelligence

Noble Academy

990 • Fiscal year 2024 • EIN 87-0790480

Jul 01, 2023 to Jun 30, 2024 • Filed on Jan 13, 2025

9477 Decatur Dr NBrooklyn Park, MN 55445

(763) 592-7706

Siviq Scores

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

Liabilities / Assets

61st percentile

0.28x

Higher debt load relative to assets than 61% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

67th percentile

0.45x

Higher debt load relative to revenue than 67% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

64th percentile

12%

Higher net margin than 64% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

75th percentile

$284,258

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

33rd percentile

0.2%

Faster asset growth than 33% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

42nd percentile

4.1%

Faster revenue growth than 42% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$17,155,141

Up $35,184 (+0.2%) from 2023

Net Assets

Up

$12,436,354

Up $1,225,757 (+11%) from 2023

Liabilities

Down

$4,718,787

Down $1,190,573 (-20%) from 2023

Revenue

Up

$10,425,418

Up $411,492 (+4.1%) from 2023

Expenses

Up

$9,199,661

Up $1,436,067 (+18%) from 2023

Net Income

Down

$1,225,757

Down $1,024,575 (-46%) from 2023

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2010: $2,133,414Liabilities 2010: $783,696Net Assets 2010: $1,349,7182010Assets 2011: $2,883,328Liabilities 2011: $261,840Net Assets 2011: $2,621,4882011Assets 2012: $4,081,552Liabilities 2012: $267,590Net Assets 2012: $3,813,9622012Assets 2013: $5,885,884Liabilities 2013: $355,968Net Assets 2013: $5,529,9162013Assets 2014: $6,252,407Liabilities 2014: $207,134Net Assets 2014: $6,045,2732014Assets 2015: $7,293,945Liabilities 2015: $2,950,627Net Assets 2015: $4,343,3182015Assets 2016: $7,462,611Liabilities 2016: $3,080,523Net Assets 2016: $4,382,0882016Assets 2017: $15,072,271Liabilities 2017: $9,588,977Net Assets 2017: $5,483,2942017Assets 2018: $15,868,647Liabilities 2018: $11,275,844Net Assets 2018: $4,592,8032018Assets 2019: $14,553,871Liabilities 2019: $9,909,323Net Assets 2019: $4,644,5482019Assets 2020: $14,184,225Liabilities 2020: $9,956,197Net Assets 2020: $4,228,0282020Assets 2021: $14,827,066Liabilities 2021: $8,551,021Net Assets 2021: $6,276,0452021Assets 2022: $16,499,150Liabilities 2022: $7,538,885Net Assets 2022: $8,960,2652022Assets 2023: $17,119,957Liabilities 2023: $5,909,360Net Assets 2023: $11,210,5972023Assets 2024: $17,155,141Liabilities 2024: $4,718,787Net Assets 2024: $12,436,3542024Assets 2025: $17,108,355Liabilities 2025: $4,455,912Net Assets 2025: $12,652,4432025

Highlighted filing

2024

Assets$17,155,141
Liabilities$4,718,787
Net Assets$12,436,354

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $5,258,3052010Revenue 2011: $5,595,893Expenses 2011: $4,324,123Net Income 2011: $1,271,7702011Expenses 2012: $4,584,3022012Expenses 2013: $4,817,0882013Revenue 2014: $5,453,923Expenses 2014: $4,938,566Net Income 2014: $515,3572014Revenue 2015: $5,749,124Expenses 2015: $5,291,308Net Income 2015: $457,8162015Revenue 2016: $7,263,546Expenses 2016: $7,233,603Net Income 2016: $29,9432016Revenue 2017: $9,264,429Expenses 2017: $8,040,958Net Income 2017: $1,223,4712017Revenue 2018: $11,161,481Expenses 2018: $12,051,972Net Income 2018: -$890,4912018Revenue 2019: $11,522,264Expenses 2019: $11,470,519Net Income 2019: $51,7452019Revenue 2020: $12,208,734Expenses 2020: $12,625,254Net Income 2020: -$416,5202020Revenue 2021: $12,839,269Expenses 2021: $10,791,252Net Income 2021: $2,048,0172021Revenue 2022: $11,766,812Expenses 2022: $9,082,592Net Income 2022: $2,684,2202022Revenue 2023: $10,013,926Expenses 2023: $7,763,594Net Income 2023: $2,250,3322023Revenue 2024: $10,425,418Expenses 2024: $9,199,661Net Income 2024: $1,225,7572024Revenue 2025: $9,085,872Expenses 2025: $8,869,783Net Income 2025: $216,0892025

Highlighted filing

2024

Revenue$10,425,418
Expenses$9,199,661
Net Income$1,225,757
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Jan 13, 2025
Return Version
2023v6.0
Gross Receipts
$10,425,418
Mission and Program Overview

Mission

To provide quality, relevant and multicultural education for all students which meets the intellectual, creative, and social needs of each child.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$11,197,899$12,347,535▲ $1,149,636
Cap Stk Tr Prin Current Funds$9,599,411$10,227,621▲ $628,210
Land, Buildings, and Equipment, Net$1,103,185$1,388,742▲ $285,557
Pd in Cap Srpls Land Bldg Eqp Fund$1,103,185$1,388,742▲ $285,557
Rtn Earn Endowment Incm Other Fnds$508,001$819,991▲ $311,990
Pledges and Grants Receivable$1,287,539$425,697▼ $861,842
Prepaid Expenses and Deferred Charges$324,058$230,242▼ $93,816
Cash and Non-Interest-Bearing Accounts$46,503--
Total Assets$17,119,957$17,155,141▲ $35,184
Other Assets Total$3,160,773$2,762,925▼ $397,848
Liabilities
Other Liabilities$5,504,497$4,296,793▼ $1,207,704
Accounts Payable and Accrued Expenses$350,863$390,257▲ $39,394
Deferred Revenue$54,000$31,737▼ $22,263
Total Liabilities$5,909,360$4,718,787▼ $1,190,573
Net Assets / Fund Balance
Total Net Assets Fund Balance$11,210,597$12,436,354▲ $1,225,757
Total Liabilities and Net Assets / Fund Balance$17,119,957$17,155,141▲ $35,184

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$694,317$2,549,409$3,243,726
Buildings$694,425$325,847$1,020,272
Other Assets Org$1,881,949--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mai Yia ChangSuperintendent - Ex OfficiFT$239,342$44,916$284,258
Chai VangChairFT$77,676$18,234$95,910
Lu De VangSecretaryFT$57,097$15,036$72,133

Board Members and Trustees

NameTitle
Pheng VueVice Chair
Kia YangMember
Larnix MouaMember
Ong YangMember
Thong ThaoMember
Mai Blia FortinTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Excellence In EducationCharter Management Organization9837 LINDEN AVE N, Brooklyn Park, MN 55443$969,436
Northstar Bus LinesStudent Transportation11800 95TH AVE N, Maple Grove, MN 55369$779,602
Southwest Foodservice Excellence LLCFood ServicePO BOX 29338, Phoenix, AZ 85038$406,510
Revenue and Support

Revenue Composition

Contributions and Grants
$9,919,415
Program Service Revenue
$49,436
Investment Income
$456,567
Other Revenue
$0
Change in Net Assets
$1,225,757
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,277,729
Salaries, Compensation, and Employee Benefits$2,921,932
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,206,856$260,719-$2,467,575
Occupancy$1,537,005$205,227-$1,742,232
Fees for Services Other$1,404,781$9,891-$1,414,672
Travel$1,093,200$387-$1,093,587
Current Officers, Directors, Trustees, and Key Employees$169,058$328,092-$497,150
Other Employee Benefits$264,386$155,279-$419,665
Depreciation Depletion$254,074$25,653-$279,727
Payroll Taxes$139,368$33,394-$172,762
Fees for Services Accounting-$147,895-$147,895
Advertising-$145,180-$145,180
All Other Expenses$760$61,370-$62,130
Insurance-$47,387-$47,387
Other Expenses$44,121$166,854-$44,121
Fees for Services Legal-$11,922-$11,922
Pension Plan Contributions$-439,777$-195,443-$-635,220
Total Functional Expenses$7,795,112$1,404,549$0$9,199,661
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$2,670,150
Deferred Inflows of Resources - Pensions$1,626,643
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

All staff members who are employed at the school, including teachers providing instruction under a cooperative, and all parents of children enrolled in the school are members.

Form 990, Part VI, Section A, Line 7A

All staff members who are employed at the school, including teachers providing instruction under a cooperative, and all parents of children enrolled in the school may vote in the board member election. Each family of an enrolled student will get a maximum of two votes. Those votes will be cast by the parents or legal gaurdians of the student only.

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

The form 990 is prepared by an independent public accounting firm and reviewed by the school's finance committee and approved by the board prior to submision to the irs.

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

The conflict of interest policy is monitored by the board of directors on a regular basis. Any conflict of interest issues, in appearance or fact, are thoroughly reviewed prior to any formal decision being made on the course of action determined by the commissioner of education. Interested persons are prohibited from serving as a member of the school's board of directors if also as an employee or agent of (directly or indirectly) a for-profit entity in which the school contracts all proceedings are documented in the meeting minutes or as otherwise appropriate.

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

The board reviews the chief executive officer's performance and uses market rate analysis to determine the compensation for the position. The school director uses the starting pay scale based on number of years of experience in the classroom to determine the school teachers' compensation. This process was last reviewed and approved in 2016.

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
Noble Academy
EIN
87-0790480
Phone
7635927706
Address
9477 DECATUR DR N, BROOKLYN PARK, MN 55445

Signing Officer

Name
Mai Yia Chang
Title
Superintendent
Phone
7635927706
Signed
2025-01-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mai Yia Chang
Formed
2005
Legal Domicile
Mn
Voting Board Members
9
Independent Board Members
6
Employees
69
Volunteers
25

Preparer

Firm
SCHLENNER WENNER & CO CPA'S PA
Address
630 ROOSEVELT RD STE 201, ST CLOUD, MN 56301
Preparer
Shelley M Gaetz
Phone
3202510286
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Other professional fees: program service expenses 1,404,781. Management and general expenses 9,891. Fundraising expenses 0. Total expenses 1,414,672.

Financial Statement Notes

PART X, LINE 2:

The academy is recognized by the internal revenue service as a not-for-profit organization under irs code section 501(c)(3). Due to the not-for-profit nature and provision of the academy, all income and expenses attributable to the mission of the academy are tax exempt and accordingly no provision or liability for income taxes have been made in the financial statements and contributions to the academy are tax deductible to donors as allowed by irs regulations. However, the academy is required to pay state and federal income taxes on unrelated business income. If the academy were to engage in any activities that resulted in unrelated business income, a tax would be assessed on that activity. The academy is open and subject to examination generally for three years after the filing date.

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IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt06
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt047387
IRS990/InsuranceGrp/TotalAmt047387
IRS990/InvestmentIncomeGrp/ExclusionAmt0456567
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0456567
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt014
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt02875256
IRS990/LandBldgEquipBasisNetGrp/BOYAmt01103185
IRS990/LandBldgEquipBasisNetGrp/EOYAmt01388742
IRS990/LandBldgEquipCostOrOtherBssAmt04263998
IRS990/LegalDomicileStateCd0MN
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO PROVIDE QUALITY, RELEVANT AND MULTICULTURAL EDUCATION FOR ALL STUDENTS WHICH MEETS THE INTELLECTUAL, CREATIVE, AND SOCIAL NEEDS OF EACH CHILD.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt011210597
IRS990/NetAssetsOrFundBalancesEOYAmt012436354
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt0205227
IRS990/OccupancyGrp/ProgramServicesAmt01537005
IRS990/OccupancyGrp/TotalAmt01742232
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt03160773
IRS990/OtherAssetsTotalGrp/EOYAmt02762925
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0155279
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0264386
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0419665
IRS990/OtherExpensesGrp/Desc0FOOD / MILK
IRS990/OtherExpensesGrp/Desc1NON-INSTRUCTIONAL SUPPL
IRS990/OtherExpensesGrp/Desc2INSTRUCTIONAL SUPPLIES
IRS990/OtherExpensesGrp/Desc3GRANT EXPENSE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0742
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1166854
IRS990/OtherExpensesGrp/ProgramServicesAmt0534758
IRS990/OtherExpensesGrp/ProgramServicesAmt1250938
IRS990/OtherExpensesGrp/ProgramServicesAmt2335584
IRS990/OtherExpensesGrp/ProgramServicesAmt344121
IRS990/OtherExpensesGrp/TotalAmt0535500
IRS990/OtherExpensesGrp/TotalAmt1417792
IRS990/OtherExpensesGrp/TotalAmt2335584
IRS990/OtherExpensesGrp/TotalAmt344121
IRS990/OtherLiabilitiesGrp/BOYAmt05504497
IRS990/OtherLiabilitiesGrp/EOYAmt04296793
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0260719
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt02206856
IRS990/OtherSalariesAndWagesGrp/TotalAmt02467575
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt033394
IRS990/PayrollTaxesGrp/ProgramServicesAmt0139368
IRS990/PayrollTaxesGrp/TotalAmt0172762
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt01103185
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt01388742
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0-195443
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0-439777
IRS990/PensionPlanContributionsGrp/TotalAmt0-635220
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt01287539
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0425697
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0324058
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0230242
IRS990/PrincipalOfficerNm0MAI YIA CHANG
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/Desc0OTHER PROGRAM REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1CHARGES FOR SERVICES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt043736
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt15700
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt043736
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt15700
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt09799367
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0156837
IRS990/PYOtherExpensesAmt05501419
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt057722
IRS990/PYRevenuesLessExpensesAmt02250332
IRS990/PYSalariesCompEmpBnftPaidAmt02262175
IRS990/PYTotalExpensesAmt07763594
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt010013926
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt01225757
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt049436
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0508001
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0819991
IRS990/SavingsAndTempCashInvstGrp/BOYAmt011197899
IRS990/SavingsAndTempCashInvstGrp/EOYAmt012347535
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/BuildingsGrp/BookValueAmt0694425
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0325847
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01020272
IRS990ScheduleD/EquipmentGrp/BookValueAmt0694317
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02549409
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt03243726
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0880976
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11881949
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEFERRED OUTFLOWS OF RESOURCES - PENSIONS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1AMOUNTS OWED FROM BUILDING COMPANIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02670150
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11626643
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NET PENSION LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED INFLOWS OF RESOURCES - PENSIONS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ACADEMY IS RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS A NOT-FOR-PROFIT ORGANIZATION UNDER IRS CODE SECTION 501(C)(3). DUE TO THE NOT-FOR-PROFIT NATURE AND PROVISION OF THE ACADEMY, ALL INCOME AND EXPENSES ATTRIBUTABLE TO THE MISSION OF THE ACADEMY ARE TAX EXEMPT AND ACCORDINGLY NO PROVISION OR LIABILITY FOR INCOME TAXES HAVE BEEN MADE IN THE FINANCIAL STATEMENTS AND CONTRIBUTIONS TO THE ACADEMY ARE TAX DEDUCTIBLE TO DONORS AS ALLOWED BY IRS REGULATIONS. HOWEVER, THE ACADEMY IS REQUIRED TO PAY STATE AND FEDERAL INCOME TAXES ON UNRELATED BUSINESS INCOME. IF THE ACADEMY WERE TO ENGAGE IN ANY ACTIVITIES THAT RESULTED IN UNRELATED BUSINESS INCOME, A TAX WOULD BE ASSESSED ON THAT ACTIVITY. THE ACADEMY IS OPEN AND SUBJECT TO EXAMINATION GENERALLY FOR THREE YEARS AFTER THE FILING DATE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01388742
IRS990ScheduleD/TotalBookValueOtherAssetsAmt02762925
IRS990ScheduleD/TotalLiabilityAmt04296793
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/ExplanationTxt0INFORMATION PERTAINING TO THE SCHOOL'S NONDISCRIMINATORY POLICY IS AVAILABLE ON THE SCHOOL'S WEBSITE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1IN MINNESOTA, CHARTER SCHOOLS ARE CONSIDERED PUBLIC SCHOOLS AND, AS SUCH, RECEIVE GENERAL EDUCATION AND SPECIAL EDUCATION AIDS IN ACCORDANCE WITH MINNESOTA DEPARTMENT OF EDUCATION FUNDING FORMULAS. THE SCHOOL ALSO RECEIVES PASS THROUGH FUNDING THROUGH THE MINNESOTA DEPARTMENT OF EDUCATION.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0239342
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt044916
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0MAI YIA CHANG
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0SUPERINTENDENT - EX OFFICI
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0284258
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE BOARD APPROVES ALL SALARIES, AND IS ESTABLISHED BY MARKET RATE REVIEW.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALL STAFF MEMBERS WHO ARE EMPLOYED AT THE SCHOOL, INCLUDING TEACHERS PROVIDING INSTRUCTION UNDER A COOPERATIVE, AND ALL PARENTS OF CHILDREN ENROLLED IN THE SCHOOL ARE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL STAFF MEMBERS WHO ARE EMPLOYED AT THE SCHOOL, INCLUDING TEACHERS PROVIDING INSTRUCTION UNDER A COOPERATIVE, AND ALL PARENTS OF CHILDREN ENROLLED IN THE SCHOOL MAY VOTE IN THE BOARD MEMBER ELECTION. EACH FAMILY OF AN ENROLLED STUDENT WILL GET A MAXIMUM OF TWO VOTES. THOSE VOTES WILL BE CAST BY THE PARENTS OR LEGAL GAURDIANS OF THE STUDENT ONLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS PREPARED BY AN INDEPENDENT PUBLIC ACCOUNTING FIRM AND REVIEWED BY THE SCHOOL'S FINANCE COMMITTEE AND APPROVED BY THE BOARD PRIOR TO SUBMISION TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CONFLICT OF INTEREST POLICY IS MONITORED BY THE BOARD OF DIRECTORS ON A REGULAR BASIS. ANY CONFLICT OF INTEREST ISSUES, IN APPEARANCE OR FACT, ARE THOROUGHLY REVIEWED PRIOR TO ANY FORMAL DECISION BEING MADE ON THE COURSE OF ACTION DETERMINED BY THE COMMISSIONER OF EDUCATION. INTERESTED PERSONS ARE PROHIBITED FROM SERVING AS A MEMBER OF THE SCHOOL'S BOARD OF DIRECTORS IF ALSO AS AN EMPLOYEE OR AGENT OF (DIRECTLY OR INDIRECTLY) A FOR-PROFIT ENTITY IN WHICH THE SCHOOL CONTRACTS ALL PROCEEDINGS ARE DOCUMENTED IN THE MEETING MINUTES OR AS OTHERWISE APPROPRIATE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD REVIEWS THE CHIEF EXECUTIVE OFFICER'S PERFORMANCE AND USES MARKET RATE ANALYSIS TO DETERMINE THE COMPENSATION FOR THE POSITION. THE SCHOOL DIRECTOR USES THE STARTING PAY SCALE BASED ON NUMBER OF YEARS OF EXPERIENCE IN THE CLASSROOM TO DETERMINE THE SCHOOL TEACHERS' COMPENSATION. THIS PROCESS WAS LAST REVIEWED AND APPROVED IN 2016.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 1,404,781. MANAGEMENT AND GENERAL EXPENSES 9,891. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,414,672.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$17.1$4.46$12.7$9.09$8.87$0.22
2024Detailed filing. Detailed filing data is available for this year.$17.2$4.72$12.4$10.4$9.20$1.23
2023Detailed filing. Detailed filing data is available for this year.$17.1$5.91$11.2$10.0$7.76$2.25
2022Detailed filing. Detailed filing data is available for this year.$16.5$7.54$8.96$11.8$9.08$2.68
2021Detailed filing. Detailed filing data is available for this year.$14.8$8.55$6.28$12.8$10.8$2.05
2020Detailed filing. Detailed filing data is available for this year.$14.2$9.96$4.23$12.2$12.6$0.42
2019Detailed filing. Detailed filing data is available for this year.$14.6$9.91$4.64$11.5$11.5$0.05
2018Detailed filing. Detailed filing data is available for this year.$15.9$11.3$4.59$11.2$12.1$0.89
2017Detailed filing. Detailed filing data is available for this year.$15.1$9.59$5.48$9.26$8.04$1.22
2016Detailed filing. Detailed filing data is available for this year.$7.46$3.08$4.38$7.26$7.23$0.03
2015Detailed filing. Detailed filing data is available for this year.$7.29$2.95$4.34$5.75$5.29$0.46
2014Detailed filing. Detailed filing data is available for this year.$6.25$0.21$6.05$5.45$4.94$0.52
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.89$0.36$5.53$4.82
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.08$0.27$3.81$4.58
2011Summary only. Only limited summary data is available for this year.$2.88$0.26$2.62$5.60$4.32$1.27
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.13$0.78$1.35$5.26