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Global Academy Abc FY2020 filing

Tax-deductible

New Brighton, MN501(c)(3)Since 2017EducationEIN 82-1729488

The organization's primary exempt purpose is to acquire and renovate property and lease to its supporting organization, global academy, a minnesota public charter school.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
4 of 5
filings with a surplus
Average surplus $18K a year · 2% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$11.2M
106% of total assets
Concern: liabilities are 106% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$780K
Spent
$675K
To programs
98%
Net assets
−$615K
By yearFY2020–FY2024
Revenue
$780K
FY2020
Revenue by fiscal year
FY2020$780K
FY2021$780K
FY2022$780K
FY2023$869K
FY2024$897K
FY2024$838K
Expenses
$675K
FY2020
Expenses by fiscal year
FY2020$675K
FY2021$631K
FY2022$1.2M
FY2023$758K
FY2024$751K
FY2024$690K
Net assets
−$615K
FY2020
Net assets by fiscal year
FY2020−$615K
FY2021−$467K
FY2022−$891K
FY2023−$663K
FY2024−$517K
FY2024−$369K

From the FY2020 Form 990 (year ending June 2020) · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 2017.

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

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $663K Management & general 2% · $12K

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

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Carl Phillips
Board Chair
$0Pt VII · Sec A
Hala Asamarai
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
See Global Academy Abc 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

Provides a building for a global educational academy.

Provided by the organization

This section is blank until Global Academy Abc claims this page.

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1 program service account for $663K of program spending, described in the organization's own filed words · FY2019.
01

The organization's primary exempt purpose is to acquire and renovate property and lease to its supporting organization, global academy, a minnesota public charter school.

$663Kprogram expense

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Funders

Who pays for it.

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

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$780K
Ln 12
Fees for servicesLn 2g$780K
Investment incomeLn 3$238
Money outPt IX
$675K
Ln 25
Programscol B$663K
Managementcol C$12K
Owns and owesPt X
−$615K
net assets · Ln 32
Cash and savingsLn 1–2$63K
Total assetsLn 16$10.6M
LiabilitiesLn 26$11.2M
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$780K
Investment incomeLn 3$238
Total revenueLn 12$780K
Assets in detailPt X, end of year
CashLn 1$63K
Cash and savings togetherLn 1–2$63K
Land, buildings, equipmentLn 10c$10.6M
Total assetsLn 16$10.6M
LiabilitiesLn 26$11.2M
Net assetsLn 32−$615K
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$63K
Land, buildings, equipmentLn 10c$9.9M$10.6M
Total assetsLn 16$12.4M$10.6M
LiabilitiesLn 26$13.1M$11.2M
Net assetsLn 32−$741K−$615K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$12K$12K
Other fees for servicesLn 11g$74$74
InterestLn 20$527K$527K
Depreciation, depletion and amortizationLn 22$98K$98K
InsuranceLn 23$21K$21K
Other expenses (24a–d)Ln 24$18K$18K
Total functional expensesLn 25$675K$663K$12K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $897K$751K$146K−$517K 990 PDF
FY2023 $869K$758K$111K−$663K 990 PDF
FY2022 $780K$1.2M−$424K−$891K 990 PDF
FY2021 $780K$631K$149K−$467K 990 PDF
FY2020 Viewing $780K$675K$105K−$615K 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 FY2020 990 (4 parts)
Part VIII · Statement of revenue $780,238 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $780,000$780,000
VIII-3 Investment incomeExcluded from tax $238$238
VIII-12 Total revenueRelated to mission $780,000 · Unrelated business $0 · Excluded from tax $238$780,238
Part IX · Statement of functional expenses $674,996 across 6 lines filed
IX-11c Accounting feesManagement $11,970$11,970
IX-11g Other fees for servicesManagement $74$74
IX-20 InterestPrograms $526,972$526,972
IX-22 Depreciation, depletion and amortizationPrograms $97,506$97,506
IX-23 InsurancePrograms $20,509$20,509
IX-24 Other expenses (24a–d)Programs $17,965$17,965
IX-25 Total functional expensesPrograms $662,952 · Management $12,044 · Fundraising $0$674,996
Part X · Balance sheet $10,634,144 assets, 7 lines filed
X-1 Cash, non-interest-bearing$62,719
X-10c Land, buildings and equipment, netStart of year $9,852,417$10,571,425
X-16 Total assetsStart of year $12,392,724$10,634,144
X-25 Other liabilitiesStart of year $69,347$159,396
X-26 Total liabilitiesStart of year $13,133,851$11,249,609
X-32 Total net assets or fund balancesStart of year −$741,127−$615,465
X-33 Total liabilities and net assetsStart of year $12,392,724$10,634,144
Part XI · Reconciliation of net assets −$615,465 net assets at year end
XI-1 Total revenue$780,238
XI-2 Total expenses$674,996
XI-3 Revenue less expenses$105,242
XI-4 Net assets at start of year−$741,127
XI-8 Prior period adjustments−$125,136
XI-9 Other changes in net assets$145,556
XI-10 Net assets at end of year−$615,465

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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