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Innovative Quality Schools FY2021 filing

Tax-deductible

Hutchinson, MN501(c)(3)EducationEIN 27-0574007

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The mission of Innovative Quality Schools is to, "...authorize charter schools that are innovative and successful in preparing students to achieve their full potential...". Its vision is to, "...achieve success for all learners by supporting schools engaged in educational innovation...".

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $22K a year · 4% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 4.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$27K
8% of total assets
Looks good: liabilities are 8% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$513K
Spent
$465K
To programs
93%
Net assets
$300K
By yearFY2021–FY2025
Revenue
$513K
FY2021
Revenue by fiscal year
FY2021$513K
FY2022$603K
FY2023$610K
FY2024$649K
FY2025$637K
Expenses
$465K
FY2021
Expenses by fiscal year
FY2021$465K
FY2022$557K
FY2023$627K
FY2024$623K
FY2025$631K
Net assets
$300K
FY2021
Net assets by fiscal year
FY2021$300K
FY2022$347K
FY2023$329K
FY2024$342K
FY2025$347K

From the FY2021 Form 990 (year ending June 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2010.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $433K Management & general 7% · $32K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Julie Sabo
Director
$0Pt VII · Sec A
Mary Otto
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Steve Kelley
Director
$0Pt VII · Sec A
Sarah Tucher
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Holly Dayton
Vice Chair
$0Pt VII · Sec A
See Innovative Quality Schools executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Authorizes innovative charter schools to help students reach their full potential.

Provided by the organization

This section is blank until Innovative Quality Schools claims this page.

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1 program service account for $433K of program spending, described in the organization's own filed words · FY2020.
01

Innovative Quality Schools is a leader in authorizing Minnesota charter schools, both in Minneapolis/Saint Paul and greater Minnesota. During fiscal year 2021, Innovative Quality Schools authorized thirty charter schools engaged in education innovation.

$433Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 12 grants · $113K · 2020–2024
Bdote Learning CenterMN · FY2024$5,250
Bdote Learning CenterMN · FY2023$13,174
Progeny Academy INCMN · FY2023$8,542
Nasha ShkolaMN · FY2023$5,413
Minnesota Early Learning Academy INCMN · FY2022$23,653
Bdote Learning CenterMN · FY2022$6,825
Bluesky Charter SchoolMN · FY2022$5,500
Notre Ecole French Immersion SchoolMN · FY2022$5,100
Level Up AcademyMN · FY2021$10,000
The Journey SchoolFY2020$10,000
Success AcademyMN · FY2020$10,000
Minnesota Excellence in Learning AcademyFY2020$10,000

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$513K
Ln 12
Fees for servicesLn 2g$513K
Investment incomeLn 3$40
Money outPt IX
$465K
Ln 25
Programscol B$433K
Managementcol C$32K
Owns and owesPt X
$300K
net assets · Ln 32
Cash and savingsLn 1–2$191K
Total assetsLn 16$327K
LiabilitiesLn 26$27K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$513K
Investment incomeLn 3$40
Total revenueLn 12$513K
Assets in detailPt X, end of year
CashLn 1$141K
SavingsLn 2$51K
Cash and savings togetherLn 1–2$191K
Total assetsLn 16$327K
LiabilitiesLn 26$27K
Net assetsLn 32$300K
OperationsPt I, VI
EmployeesI 50
VolunteersI 68
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$70K$191K
Total assetsLn 16$254K$327K
LiabilitiesLn 26$2K$27K
Net assetsLn 32$252K$300K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$35K$35K
Management feesLn 11a$175K$157K$17K
Legal feesLn 11b$8K$8K
Accounting feesLn 11c$22K$14K$7K
Other fees for servicesLn 11g$182K$182K
Information technologyLn 14$860$860
TravelLn 17$1K$1K
Conferences, conventions and meetingsLn 19$20K$20K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$18K$16K$2K
Total functional expensesLn 25$465K$433K$32K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $637K$631K$5K$347K 990 PDF
FY2024 $649K$623K$25K$342K 990 PDF
FY2023 $610K$627K−$17K$329K 990 PDF
FY2022 $603K$557K$46K$347K 990 PDF
FY2021 Viewing $513K$465K$48K$300K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $513,142 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $513,102$513,102
VIII-3 Investment incomeExcluded from tax $40$40
VIII-12 Total revenueRelated to mission $513,102 · Unrelated business $0 · Excluded from tax $40$513,142
Part IX · Statement of functional expenses $464,785 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $34,813$34,813
IX-11a Management feesPrograms $157,366 · Management $17,485$174,851
IX-11b Legal feesPrograms $7,836$7,836
IX-11c Accounting feesPrograms $14,400 · Management $7,200$21,600
IX-11g Other fees for servicesPrograms $181,905$181,905
IX-14 Information technologyManagement $860$860
IX-17 TravelPrograms $1,105$1,105
IX-19 Conferences, conventions and meetingsPrograms $19,567$19,567
IX-23 InsuranceManagement $4,256$4,256
IX-24 Other expenses (24a–d)Programs $16,268 · Management $1,724$17,992
IX-25 Total functional expensesPrograms $433,260 · Management $31,525 · Fundraising $0$464,785
Part X · Balance sheet $327,339 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $19,114$140,940
X-2 Savings and temporary cash investmentsStart of year $50,528$50,553
X-4 Accounts receivableStart of year $184,339$133,946
X-9 Prepaid expenses and deferred charges$1,900
X-16 Total assetsStart of year $253,981$327,339
X-17 Accounts payable and accrued expensesStart of year $2,034$27,035
X-26 Total liabilitiesStart of year $2,034$27,035
X-27 Net assets without donor restrictionsStart of year $251,947$300,304
X-32 Total net assets or fund balancesStart of year $251,947$300,304
X-33 Total liabilities and net assetsStart of year $253,981$327,339
Part XI · Reconciliation of net assets $300,304 net assets at year end
XI-1 Total revenue$513,142
XI-2 Total expenses$464,785
XI-3 Revenue less expenses$48,357
XI-4 Net assets at start of year$251,947
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$300,304

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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