Totals
- Total revenue
- $6,181,460
- Total expenses
- $7,568,112
- Contributions and grants received
- $6,104,813
- Grants paid
- $0
- Program service revenue
- $44,393
- Investment income
- $2,196
- Other revenue
- $30,058
- Total assets, end of year
- $15,309,190
- Total liabilities, end of year
- $17,141,414
- Net assets or fund balances, end of year
- -$1,832,224
- Program services expenses (Part IX)
- $6,994,016
- Management and general expenses
- $574,096
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $6,994,016
Program services were 92.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$6,036,483
-
1f · All other contributions, gifts and grants
$68,330
-
2a · Program service revenue: Charges for services
total $30,447 · related or exempt $30,447
-
2b · Program service revenue: Miscellaneous revenue
total $13,876 · related or exempt $13,876
-
2c · Program service revenue: Food sales
total $70 · related or exempt $70
-
3 · Investment income
total $2,196 · excluded $2,196
-
11a · Other revenue: Pension Revenue
total $30,058 · excluded $30,058
-
11e · Other revenue, total
$30,058
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $267,965 · program services $247,439 · management and general $20,526
-
7 · Other salaries and wages
total $2,986,866 · program services $2,758,111 · management and general $228,755
-
8 · Pension plan contributions
total $786,106 · program services $727,041 · management and general $59,065
-
9 · Other employee benefits
total $198,351 · program services $168,192 · management and general $30,159
-
10 · Payroll taxes
total $241,026 · program services $222,677 · management and general $18,349
-
11b · Fees: legal
total $32,144 · management and general $32,144
-
11c · Fees: accounting
total $72,800 · management and general $72,800
-
11g · Fees: other
total $1,111,669 · program services $1,072,601 · management and general $39,068
-
13 · Office expenses
total $86,389 · program services $25,353 · management and general $61,036
-
14 · Information technology
total $77,221 · program services $77,221
-
16 · Occupancy
total $203,449 · program services $201,889 · management and general $1,560
-
17 · Travel
total $73,035 · program services $72,735 · management and general $300
-
20 · Interest
total $315,703 · program services $315,703
-
22 · Depreciation, depletion and amortization
total $766,055 · program services $762,499 · management and general $3,556
-
23 · Insurance
total $19,770 · program services $19,770
-
24a · Other expenses: Food Services
total $300,871 · program services $295,242 · management and general $5,629
-
24b · Other expenses: Miscellaneous
total $28,692 · program services $27,543 · management and general $1,149
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $436,387 · end of year $817,762
-
3 · Pledges and grants receivable
beginning of year $1,575,978 · end of year $499,570
-
4 · Accounts receivable
beginning of year $3,495 · end of year $3,020
-
9 · Prepaid expenses and deferred charges
beginning of year $5,095 · end of year $31,624
-
10a · Land, buildings and equipment: cost or other basis
$14,248,428
-
10b · Land, buildings and equipment: accumulated depreciation
$1,599,220
-
10c · Land, buildings and equipment, net
beginning of year $13,342,126 · end of year $12,649,208
-
15 · Other assets
beginning of year $1,357,822 · end of year $1,308,006
-
17 · Accounts payable and accrued expenses
beginning of year $350,214 · end of year $272,205
-
19 · Deferred revenue
beginning of year $34,333
-
25 · Other liabilities
beginning of year $16,781,928 · end of year $16,869,209
-
27 · Net assets without donor restrictions
beginning of year -$452,328 · end of year -$1,839,549
-
28 · Net assets with donor restrictions
beginning of year $6,756 · end of year $7,325
Mission and programs · 2022
Mission
Sejong Academy is committed to providing an academically rigorous education to PreK-10 Twin Cities students through immersion experience in Korean language and culture by using research-based curriculum, high standards for accountability and promoting an appreciation for diversity and international cultures.
Activities or mission (Part I)
The Academy provides an academically rigorous education to PreK-10 Twin Cities students.
-
Sejong Academy ended the year with a healthy fund balance and growing enrollment with approximately 317 students served.
Expenses $6,994,016 · Revenue $44,393
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Grace Lee
Chair
- Total calculated
- $0
- Hours/week
- 5
-
Erik Funk
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Anna Carpenter
Member
- Total calculated
- $0
- Hours/week
- 1
-
Thomas Caron
Member/Teacher
- Total calculated
- $63,501
- From this org
- $54,092
- From related orgs
- $0
- Other
- $9,409
- Hours/week
- 40
-
Pawku Hser
Member/Teacher
- Total calculated
- $20,213
- From this org
- $18,190
- From related orgs
- $0
- Other
- $2,023
- Hours/week
- 40
-
Hoonseok Oh
Member/Teacher
- Total calculated
- $64,833
- From this org
- $58,819
- From related orgs
- $0
- Other
- $6,014
- Hours/week
- 40
-
Donna Phillips
Member
- Total calculated
- $0
- Hours/week
- 1
-
Brad Tipka
Executive Director
- Total calculated
- $114,705
- From this org
- $104,670
- From related orgs
- $0
- Other
- $10,035
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 20 March 2024
- IRS schema version
- 2022v5.0
- Source object
- 202410879349300716
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.