Math and Science Academy FY2022 filing

Tax-deductible

Woodbury, MN501(c)(3)Since 1998EducationEIN 41-1907844

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We provide accelerated curricula in all subjects with an emphasis on Math and Science.

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
$437K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $118K a year · 2% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$437K
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $8K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$5.5M
118% of total assets
Concern: liabilities are 118% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 10 voting members
Looks good: 7 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.8M
-0.3% vs prior year
Spent
$5.9M
To programs
80%
Net assets
−$855K
By yearFY2020–FY2024
Revenue
$5.8M
FY2022-0.3%
Revenue by fiscal year
FY2020$5.8M
FY2021$5.8M
FY2022$5.8M
FY2023$6.7M
FY2024$8.0M
FY2024$9.5M
Expenses
$5.9M
FY2022▲ +3%
Expenses by fiscal year
FY2020$5.8M
FY2021$5.7M
FY2022$5.9M
FY2023$6.7M
FY2024$7.4M
FY2024$8.9M
Net assets
−$855K
FY2022▲ +17%
Net assets by fiscal year
FY2020−$820K
FY2021−$1.0M
FY2022−$855K
FY2023−$65K
FY2024$187K
FY2024$959K

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1999.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $4.7M Management & general 20% · $1.2M

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

13 people listed on the 990; $437K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Vice Chair/Teacher
$66,846Pt VII · Sec A
Interim Executive Director
$60,448Pt VII · Sec A
Former Vice Chair/Teacher
$59,797Pt VII · Sec A
Former Member/Teacher
$58,373Pt VII · Sec A
Former Member/Teacher
$58,078Pt VII · Sec A
Former Member/Teacher
$52,531Pt VII · Sec A
Former Member/Teacher
$47,330Pt VII · Sec A
Former Member/Teacher
$33,348Pt VII · Sec A

Kate Hinton’s $127K as Executive Director is at the 50th percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Kate Hinton$126,758$118,287$125,544———
Jillynne Raymond$126,034$111,031————
Lytou Lee$119,655$106,828————
John Gawarecki————$114,143$108,176
Steven Hoemann$112,398$110,615$109,671———
Randall Vetsch—$107,604————
Thomas Johnston———$52,531$80,028—
Maggie Burggraaff——$71,678$66,846$66,687$56,055

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Offers fast-paced math and science education, plus other subjects.

Provided by the organization

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1 program · $4.7M · in their own filed words · FY2021
01

Math & science academy (msa) opened in the fall of the 1999-2000 school year and serves students grades six through twelve. Msa places tremendous value on a school design that is curriculum based, standards driven, and collaboratively run. The curriculum places emphasis in the areas of math and science with a balance of humanities.

$4.7Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$8K

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$5.8M
Ln 12
Gifts and grantsLn 1h$5.6M
Fees for servicesLn 2g$104K
Other incomeLn 4–11$76K
Money outPt IX
$5.9M
Ln 25
Programscol B$4.7M
Managementcol C$1.2M
Owns and owesPt X
−$855K
net assets · Ln 32
Cash and savingsLn 1–2$2.1M
Total assetsLn 16$4.7M
LiabilitiesLn 26$5.5M
PeoplePt VI, VII
13
listed · VII A
PaidVII A8
Voting boardVI 1a10
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.6M
Government grantsLn 1e$5.5M
Fees for servicesLn 2g$104K
Investment incomeLn 3$2K
Other incomeLn 4–11$76K
Total revenueLn 12$5.8M
Assets in detailPt X, end of year
CashLn 1$603
SavingsLn 2$2.1M
Cash and savings togetherLn 1–2$2.1M
Land, buildings, equipmentLn 10c$377K
Other assetsLn 15$1.5M
Total assetsLn 16$4.7M
LiabilitiesLn 26$5.5M
Net assetsLn 32−$855K
OperationsPt I, VI
EmployeesI 5137
VolunteersI 615
Fiscal year endsHeaderJune
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 FY22End FY22
Cash and savingsLn 1–2$2.2M$2.1M
Land, buildings, equipmentLn 10c$440K$377K
Total assetsLn 16$4.9M$4.7M
LiabilitiesLn 26$5.9M$5.5M
Net assetsLn 32−$1.0M−$855K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$239K$88K$151K
Pay of disqualified personsLn 6$285K$285K
Other salaries and wagesLn 7$2.3M$1.8M$497K
Pension plan contributionsLn 8$172K$136K$36K
Other employee benefitsLn 9$445K$373K$72K
Payroll taxesLn 10$220K$174K$46K
Legal feesLn 11b$132K$132K
Accounting feesLn 11c$111K$111K
Other fees for servicesLn 11g$383K$330K$52K
Office expensesLn 13$124K$87K$37K
Information technologyLn 14$128K$106K$21K
OccupancyLn 16$724K$724K
Conferences, conventions and meetingsLn 19$39K$31K$8K
InterestLn 20$22K$20K$2K
Depreciation, depletion and amortizationLn 22$233K$232K$934
InsuranceLn 23$36K$36K
Other expenses (24a–d)Ln 24$247K$216K$31K
All other expensesLn 24e$13K$13K
Total functional expensesLn 25$5.9M$4.7M$1.2M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $8.0M$7.4M$555K$187K 990 PDF
FY2023 $6.7M$6.7M$20K−$65K 990 PDF
FY2022 Viewing $5.8M$5.9M−$67K−$855K 990 PDF
FY2021 $5.8M$5.7M$106K−$1.0M 990 PDF
FY2020 $5.8M$5.8M−$23K−$820K 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 FY2022 990 (4 parts)
Part VIII · Statement of revenue $5,808,778 across 7 lines filed
Lines not itemized here account for −$317 of total revenue; see the IRS return.
VIII-1e Government grants$5,544,743
VIII-1f All other contributions, gifts and grants$82,036
VIII-1h Total contributions, gifts and grants$5,626,779
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $103,606$103,606
VIII-3 Investment incomeExcluded from tax $1,975$1,975
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $76,735$76,735
VIII-12 Total revenueRelated to mission $180,341 · Unrelated business $0 · Excluded from tax $1,658$5,808,778
Part IX · Statement of functional expenses $5,875,454 across 18 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $88,062 · Management $150,563$238,625
IX-6 Pay of disqualified personsPrograms $285,290$285,290
IX-7 Other salaries and wagesPrograms $1,825,372 · Management $497,461$2,322,833
IX-8 Pension plan contributionsPrograms $136,245 · Management $36,033$172,278
IX-9 Other employee benefitsPrograms $373,400 · Management $72,064$445,464
IX-10 Payroll taxesPrograms $174,055 · Management $45,555$219,610
IX-11b Legal feesManagement $132,359$132,359
IX-11c Accounting feesManagement $111,286$111,286
IX-11g Other fees for servicesPrograms $330,316 · Management $52,241$382,557
IX-13 Office expensesPrograms $87,385 · Management $36,669$124,054
IX-14 Information technologyPrograms $106,308 · Management $21,373$127,681
IX-16 OccupancyPrograms $724,116$724,116
IX-19 Conferences, conventions and meetingsPrograms $30,848 · Management $8,116$38,964
IX-20 InterestPrograms $20,350 · Management $1,507$21,857
IX-22 Depreciation, depletion and amortizationPrograms $232,497 · Management $934$233,431
IX-23 InsurancePrograms $35,684$35,684
IX-24 Other expenses (24a–d)Programs $216,224 · Management $30,535$246,759
IX-24e All other expensesPrograms $12,606$12,606
IX-25 Total functional expensesPrograms $4,678,758 · Management $1,196,696 · Fundraising $0$5,875,454
Part X · Balance sheet $4,694,273 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $590$603
X-2 Savings and temporary cash investmentsStart of year $2,170,051$2,091,503
X-4 Accounts receivableStart of year $482,367$515,626
X-9 Prepaid expenses and deferred chargesStart of year $205,143$206,528
X-10c Land, buildings and equipment, netStart of year $439,699$377,324
X-15 Other assetsStart of year $1,605,551$1,502,689
X-16 Total assetsStart of year $4,903,401$4,694,273
X-17 Accounts payable and accrued expensesStart of year $548,544$499,697
X-19 Deferred revenue$6,768
X-25 Other liabilitiesStart of year $5,383,187$5,042,756
X-26 Total liabilitiesStart of year $5,931,731$5,549,221
X-32 Total net assets or fund balancesStart of year −$1,028,330−$854,948
X-33 Total liabilities and net assetsStart of year $4,903,401$4,694,273
Part XI · Reconciliation of net assets −$854,948 net assets at year end
XI-1 Total revenue$5,808,778
XI-2 Total expenses$5,875,454
XI-3 Revenue less expenses−$66,676
XI-4 Net assets at start of year−$1,028,330
XI-9 Other changes in net assets$240,058
XI-10 Net assets at end of year−$854,948

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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