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Reve Academy FY2021 filing

Minneapolis, MNUnknown exempt organizationEIN 27-4148333Revenue $300K in FY2021

On file with the IRSreveacademy.org807 Broadway St Ne 160 · Minneapolis, MN

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To provide an innovative out-of-school program creating pathways to digital careers.

85¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
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
3 of 6
filings with a surplus
Average deficit $17K a year · 5% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $192K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$300K
-29% vs prior year
Spent
$366K
To programs
85%
Net assets
$88K
By yearFY2020–FY2025
Revenue
$300K
FY2021▼ -29%
Tap a bar for its year
Revenue by fiscal year
FY2020$420K
FY2021$300K
FY2022$406K
FY2023$322K
FY2024$374K
FY2025$106K
Expenses
$366K
FY2021▼ -0.9%
Tap a bar for its year
Expenses by fiscal year
FY2020$369K
FY2021$366K
FY2022$349K
FY2023$418K
FY2024$355K
FY2025$174K
Net assets
$88K
FY2021▼ -43%
Tap a bar for its year
Net assets by fiscal year
FY2020$154K
FY2021$88K
FY2022$145K
FY2023$50K
FY2024$69K
FY2025$0

From the FY2021 Form 990 · 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 Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $310K Management & general 15% · $56K

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

11 people listed on the 990.

Part VII, Section A · reportable compensation
Phil McKoy
Director
$0Pt VII · Sec A
Darrin Hebert
Director, President
$0Pt VII · Sec A
Kristin Pardue
Co-Founder
$0Pt VII · Sec A
Brad Von Bank
Co-Founder
$0Pt VII · Sec A
Thong Nguyen
Director
$0Pt VII · Sec A
Mike Eyerly
Director
$0Pt VII · Sec A
Buffy Smith
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Reve Academy 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers programs guiding youth toward digital career opportunities.

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Provided by the organization

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2 programs · $310K · in their own filed words · FY2021
01

Reve Academy Srb.

Student run agency providing students an opportunity in 10TH through 12TH grade to support digital needs of clients, gaining real world experience while earning an income and learning from professionals in the field.

$193Kprogram expense
02

Reve Academy Edu

Rigorous and market relevant out-of-school program that provides an opportunity during the school year and in summer for students in middle and high school to learn highly marketable digital skills.

$117Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Ecmc Group INCFY2024$50K
Ciresi Walburn Foundation for ChildrenFY2024$50K
Firefly Scientists FoundationFY2024$50K
The Richard M Schulze Family FoundationFY2024$25K
Greater Twin Cities United WayFY2024$10K
Tankenoff Families FoundationFY2024$8K
Total grants receivedfrom 6 funders$192K
See all 6 funders →
Grants paid · 2 grants · $16K · 2023–2024
Unitemized GrantFY2024$7,000
Unitemized GrantFY2023$8,750

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$300K
Ln 12
Gifts and grantsLn 1h$312K
Investment incomeLn 3$959
Money outPt IX
$366K
Ln 25
Programscol B$310K
Managementcol C$56K
Owns and owesPt X
$88K
net assets · Ln 32
Cash and savingsLn 1–2$41K
Total assetsLn 16$89K
LiabilitiesLn 26$1K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$312K
Government grantsLn 1e$92K
Fundraising eventsLn 1c$12K
Investment incomeLn 3$959
Total revenueLn 12$300K
Assets in detailPt X, end of year
CashLn 1$40K
SavingsLn 2$514
Cash and savings togetherLn 1–2$41K
Land, buildings, equipmentLn 10c$43K
Other assetsLn 15$5K
Total assetsLn 16$89K
LiabilitiesLn 26$1K
Net assetsLn 32$88K
OperationsPt I, VI
EmployeesI 527
VolunteersI 620
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$104K$41K
Land, buildings, equipmentLn 10c$46K$43K
Total assetsLn 16$155K$89K
LiabilitiesLn 26$1K$1K
Net assetsLn 32$154K$88K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$1K$1K
Other salaries and wagesLn 7$204K$167K$37K
Other employee benefitsLn 9$5K$4K$924
Payroll taxesLn 10$14K$11K$2K
Legal feesLn 11b$583$583
Accounting feesLn 11c$4K$4K
Other fees for servicesLn 11g$14K$13K$910
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$943$335$608
OccupancyLn 16$86K$86K$694
Depreciation, depletion and amortizationLn 22$5K$5K$508
InsuranceLn 23$4K$2K$2K
Other expenses (24a–d)Ln 24$23K$16K$6K
All other expensesLn 24e$2K$673$985
Total functional expensesLn 25$366K$310K$56K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $106K$174K−$69K$0 990 PDF
FY2024 $374K$355K$19K$69K 990 PDF
FY2023 $322K$418K−$96K$50K 990 PDF
FY2022 $406K$349K$57K$145K 990 PDF
FY2021 Viewing $300K$366K−$66K$88K 990 PDF
FY2020 $420K$369K$51K$154K 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 (6 parts)
Part I · Summary $299,775 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $394,335$312,379
I-9 Program service revenuePrior year $25,000$0
I-10 Investment incomePrior year $8$959
I-11 Other revenuePrior year $450−$13,563
I-12 Total revenuePrior year $419,793$299,775
I-13 Grants and similar amounts paidPrior year $0$1,030
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $247,005$222,835
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $122,268$142,025
I-18 Total expensesPrior year $369,273$365,890
I-19 Revenue less expensesPrior year $50,520−$66,115
Part VI · Governance 11 of 11 board members independent, 2 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $299,775 across 7 lines filed
VIII-1c Fundraising events$12,500
VIII-1e Government grants$91,850
VIII-1f All other contributions, gifts and grants$208,029
VIII-1h Total contributions, gifts and grants$312,379
VIII-3 Investment incomeExcluded from tax $959$959
VIII-8 Net income from fundraising eventsExcluded from tax −$13,563−$13,563
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$12,604$299,775
Part IX · Statement of functional expenses $365,890 across 14 lines filed
IX-2 Grants to domestic individualsPrograms $1,030$1,030
IX-7 Other salaries and wagesPrograms $167,153 · Management $37,018$204,171
IX-9 Other employee benefitsPrograms $4,171 · Management $924$5,095
IX-10 Payroll taxesPrograms $11,109 · Management $2,460$13,569
IX-11b Legal feesPrograms $583$583
IX-11c Accounting feesManagement $3,911$3,911
IX-11g Other fees for servicesPrograms $13,329 · Management $910$14,239
IX-12 Advertising and promotionPrograms $3,195$3,195
IX-13 Office expensesPrograms $335 · Management $608$943
IX-16 OccupancyPrograms $85,513 · Management $694$86,207
IX-22 Depreciation, depletion and amortizationPrograms $4,570 · Management $508$5,078
IX-23 InsurancePrograms $1,964 · Management $1,598$3,562
IX-24 Other expenses (24a–d)Programs $16,349 · Management $6,300$22,649
IX-24e All other expensesPrograms $673 · Management $985$1,658
IX-25 Total functional expensesPrograms $309,974 · Management $55,916 · Fundraising $0$365,890
Part X · Balance sheet $89,478 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $27,596$40,244
X-2 Savings and temporary cash investmentsStart of year $76,012$514
X-8 Inventories for sale or useStart of year $955$955
X-10c Land, buildings and equipment, netStart of year $45,652$42,725
X-15 Other assetsStart of year $5,040$5,040
X-16 Total assetsStart of year $155,255$89,478
X-17 Accounts payable and accrued expensesStart of year $1,110$1,448
X-26 Total liabilitiesStart of year $1,110$1,448
X-32 Total net assets or fund balancesStart of year $154,145$88,030
X-33 Total liabilities and net assetsStart of year $155,255$89,478
Part XI · Reconciliation of net assets $88,030 net assets at year end
XI-1 Total revenue$299,775
XI-2 Total expenses$365,890
XI-3 Revenue less expenses−$66,115
XI-4 Net assets at start of year$154,145
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$88,030

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

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