Fit Academy FY2021 filing

Tax-deductible

Apple Valley, MN501(c)(3)Since 2014EIN 47-4006097Revenue $4.4M in FY2021

On file with the IRSfitacademymn.org7200 147th St W, 55124-9008 · Apple Valley, MNTax-exempt since Feb 2016School — 170(b)(1)(A)(ii)

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The purpose of Fit Academy is to prepare the whole student for life. We believe our school empowers students to live fulfilling, responsible, and successful lives by purposefully integrating the three developmental areas of fitness, intellect, and teamwork.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
$233K 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

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
1 of 6
filings with a surplus
Average deficit $172K a year · 3% of revenue · last 6 filings
Concern: a surplus in 1 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
Pay to officers and key staff
$233K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.6 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $9K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3.5M
104% of total assets
Concern: liabilities are 104% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 7 voting members
Looks good: 5 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.4M
+17% vs prior year
Spent
$4.5M
To programs
85%
Net assets
−$123K
By yearFY2020–FY2025
Revenue
$4.4M
FY2021▲ +17%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.8M
FY2021$4.4M
FY2022$4.4M
FY2023$5.7M
FY2024$5.6M
FY2025$6.9M
Expenses
$4.5M
FY2021▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.2M
FY2021$4.5M
FY2022$4.6M
FY2023$5.8M
FY2024$6.3M
FY2025$6.4M
Net assets
−$123K
FY2021▼ -68%
Tap a bar for its year
Net assets by fiscal year
FY2020−$73K
FY2021−$123K
FY2022−$368K
FY2023−$456K
FY2024−$1.1M
FY2025−$673K

From the FY2021 Form 990 (year ending June 2021) · 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: FY2025. IRS ruling in Feb 2016.

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% · $3.8M Management & general 15% · $675K

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; $233K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Executive Director
$110,000Pt VII · Sec A
Secretary
$66,258Pt VII · Sec A
$57,083Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Claud Allaire$128,259$121,114$122,602$123,110$110,000$95,658
Molly Hunholz$110,624$104,135$103,896$103,896——
Shannon Baker$88,560$73,659$69,078$69,078$57,083$47,921
Eric Kalenze$87,874—————
Angie Halama$74,695$69,686$73,128$75,898$66,258—

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

Prepares students for life by integrating fitness, intellect, and teamwork.

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Provided by the organization

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1 program · $3.8M · in their own filed words · FY2020
01

The school continues to grow its student enrollment having added grade 11 during the year. As the school's enrollment continues to grow, so does its programs required to serve those students. This has resulted in an increase in the number of staff employed at the school.

$3.8Mprogram 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$9K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$4.4M
Ln 12
Gifts and grantsLn 1h$4.0M
Other incomeLn 4–11$373K
Fees for servicesLn 2g$11K
Money outPt IX
$4.5M
Ln 25
Programscol B$3.8M
Managementcol C$675K
Owns and owesPt X
−$123K
net assets · Ln 32
Cash and savingsLn 1–2$238K
Total assetsLn 16$3.4M
LiabilitiesLn 26$3.5M
PeoplePt VI, VII
11
listed · VII A
PaidVII A3
Voting boardVI 1a7
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.0M
Government grantsLn 1e$4.0M
Fees for servicesLn 2g$11K
Other incomeLn 4–11$373K
Total revenueLn 12$4.4M
Assets in detailPt X, end of year
CashLn 1$238K
Cash and savings togetherLn 1–2$238K
Land, buildings, equipmentLn 10c$211K
Other assetsLn 15$2.4M
Total assetsLn 16$3.4M
LiabilitiesLn 26$3.5M
Net assetsLn 32−$123K
OperationsPt I, VI
EmployeesI 582
VolunteersI 610
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
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$285K$238K
Land, buildings, equipmentLn 10c$178K$211K
Total assetsLn 16$3.3M$3.4M
LiabilitiesLn 26$3.4M$3.5M
Net assetsLn 32−$73K−$123K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$238K$238K
Other salaries and wagesLn 7$1.9M$1.7M$205K
Pension plan contributionsLn 8$623K$562K$61K
Other employee benefitsLn 9$249K$233K$15K
Payroll taxesLn 10$158K$142K$15K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$84K$84K
Other fees for servicesLn 11g$243K$222K$22K
Advertising and promotionLn 12$6K$6K
Office expensesLn 13$19K$2K$17K
Information technologyLn 14$48K$37K$10K
OccupancyLn 16$500K$424K$77K
TravelLn 17$67K$67K$356
InterestLn 20$109$109
Depreciation, depletion and amortizationLn 22$39K$29K$10K
InsuranceLn 23$17K$2K$15K
Other expenses (24a–d)Ln 24$202K$116K$86K
All other expensesLn 24e$53K$5K$48K
Total functional expensesLn 25$4.5M$3.8M$675K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $6.9M$6.4M$427K−$673K 990 PDF
FY2024 $5.6M$6.3M−$624K−$1.1M 990 PDF
FY2023 $5.7M$5.8M−$88K−$456K 990 PDF
FY2022 $4.4M$4.6M−$245K−$368K 990 PDF
FY2021 Viewing $4.4M$4.5M−$50K−$123K 990 PDF
FY2020 $3.8M$4.2M−$451K−$73K 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 $4,405,584 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,712,618$4,021,477
I-9 Program service revenuePrior year $43,270$11,088
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $38$373,019
I-12 Total revenuePrior year $3,755,926$4,405,584
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,769,484$3,174,235
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,437,781$1,281,289
I-18 Total expensesPrior year $4,207,265$4,455,524
I-19 Revenue less expensesPrior year −$451,339−$49,940
Part VI · Governance 5 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members5
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $4,405,584 across 6 lines filed
Lines not itemized here account for $319 of total revenue; see the IRS return.
VIII-1e Government grants$4,010,490
VIII-1f All other contributions, gifts and grants$10,987
VIII-1h Total contributions, gifts and grants$4,021,477
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $11,088$11,088
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $372,700$372,700
VIII-12 Total revenueRelated to mission $383,788 · Unrelated business $0 · Excluded from tax $319$4,405,584
Part IX · Statement of functional expenses $4,455,524 across 18 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $238,406$238,406
IX-7 Other salaries and wagesPrograms $1,701,099 · Management $205,482$1,906,581
IX-8 Pension plan contributionsPrograms $562,308 · Management $60,675$622,983
IX-9 Other employee benefitsPrograms $233,283 · Management $15,291$248,574
IX-10 Payroll taxesPrograms $142,342 · Management $15,349$157,691
IX-11b Legal feesManagement $3,146$3,146
IX-11c Accounting feesManagement $84,332$84,332
IX-11g Other fees for servicesPrograms $221,587 · Management $21,517$243,104
IX-12 Advertising and promotionManagement $6,081$6,081
IX-13 Office expensesPrograms $1,860 · Management $17,047$18,907
IX-14 Information technologyPrograms $37,078 · Management $10,497$47,575
IX-16 OccupancyPrograms $423,549 · Management $76,870$500,419
IX-17 TravelPrograms $66,656 · Management $356$67,012
IX-20 InterestManagement $109$109
IX-22 Depreciation, depletion and amortizationPrograms $29,116 · Management $9,652$38,768
IX-23 InsurancePrograms $2,452 · Management $14,714$17,166
IX-24 Other expenses (24a–d)Programs $115,592 · Management $86,201$201,793
IX-24e All other expensesPrograms $5,301 · Management $47,576$52,877
IX-25 Total functional expensesPrograms $3,780,629 · Management $674,895 · Fundraising $0$4,455,524
Part X · Balance sheet $3,420,661 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $284,691$238,026
X-4 Accounts receivableStart of year $102,586$547,630
X-9 Prepaid expenses and deferred chargesStart of year $115,694$41,457
X-10c Land, buildings and equipment, netStart of year $177,958$211,226
X-15 Other assetsStart of year $2,621,056$2,382,322
X-16 Total assetsStart of year $3,301,985$3,420,661
X-17 Accounts payable and accrued expensesStart of year $229,670$427,225
X-19 Deferred revenueStart of year $3,094$6,547
X-24 Unsecured notes and loans payableStart of year $372,700$120,700
X-25 Other liabilitiesStart of year $2,769,977$2,989,585
X-26 Total liabilitiesStart of year $3,375,441$3,544,057
X-32 Total net assets or fund balancesStart of year −$73,456−$123,396
X-33 Total liabilities and net assetsStart of year $3,301,985$3,420,661
Part XI · Reconciliation of net assets −$123,396 net assets at year end
XI-1 Total revenue$4,405,584
XI-2 Total expenses$4,455,524
XI-3 Revenue less expenses−$49,940
XI-4 Net assets at start of year−$73,456
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$123,396

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

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