Totals
- Total revenue
- $1,898,055
- Total expenses
- $1,977,586
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $1,607,064
- Investment income
- $290,991
- Other revenue
- $0
- Total assets, end of year
- $24,302,825
- Total liabilities, end of year
- $26,485,832
- Net assets or fund balances, end of year
- -$2,183,007
- Program services expenses (Part IX)
- $1,977,586
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,977,586
Program services were 100.0% 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.
-
2a · Program service revenue: RENTAL INCOME
total $1,607,064 · related or exempt $1,607,064
-
3 · Investment income
total $290,991 · excluded $290,991
Functional expenses
Part IX, the statement of functional expenses.
-
11g · Fees: other
total $15,275 · program services $15,275
-
20 · Interest
total $1,594,356 · program services $1,594,356
-
22 · Depreciation, depletion and amortization
total $273,190 · program services $273,190
-
24a · Other expenses: EQUIPMENT PURCHASES
total $94,765 · program services $94,765
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $7,830,189 · end of year $3,313,564
-
10a · Land, buildings and equipment: cost or other basis
$22,266,763
-
10b · Land, buildings and equipment: accumulated depreciation
$1,672,694
-
10c · Land, buildings and equipment, net
beginning of year $19,429,510 · end of year $20,594,069
-
15 · Other assets
beginning of year $171,000 · end of year $395,192
-
17 · Accounts payable and accrued expenses
beginning of year $3,583,360 · end of year $524,188
-
20 · Tax-exempt bond liabilities
beginning of year $25,200,000 · end of year $25,200,000
-
23 · Secured mortgages and notes payable
beginning of year $400,000 · end of year $400,000
-
25 · Other liabilities
beginning of year $350,815 · end of year $361,644
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year -$2,103,476 · end of year -$2,183,007
Mission and programs · 2024
Mission
THE ORGANIZATION WAS CREATED AS A VEHICLE TO ACQUIRE A FACILITY FOR SEVEN HILLS PREPARATORY ACADEMY, A MN PUBLIC CHARTER SCHOOL.
Activities or mission (Part I)
TO PURCHASE, OWN, CONSTRUCT OR LEASE A PUBLIC SCHOOLHOUSE TO SEVEN HILLS PREPARATORY ACADEMY.
-
THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO PURCHASE, OWN, CONSTRUCT OR LEASE A PUBLIC SCHOOLHOUSE ON REAL ESTATE FOR LEASE TO SEVEN HILLS PREPARATORY ACADEMY, A MN PUBLIC CHARTER SCHOOL.
Expenses $1,977,586 · Revenue $1,607,064
As filed on the 2024 return.
Listed in Part VII
-
Ryan GrutschRYAN GRUTSCH
BOARD CHAIR
- Total calculated
- $136,849
- From this org
- $0
- From related orgs
- $100,398
- Other
- $36,451
- Hours/week
- 0.5 + 40 related
-
Janeen RaaenJANEEN RAAEN
SECRETARY
- Total calculated
- $0
- Hours/week
- 0.1
-
Kate DockenKATE DOCKEN
TREASURER
- Total calculated
- $121,166
- From this org
- $0
- From related orgs
- $93,435
- Other
- $27,731
- Hours/week
- 0.1 + 40 related
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.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
SEVEN HILLS PREPARATORY ACADEMY
501(C)(3) · PUBLIC CHARTER SCHOOL · MN
-
SEVEN HILLS PREPARATORY ACADEMY FOUNDATION
501(C)(3) · PROMOTE & SUPPORT SEVEN HILLS PREPARATORY ACADEMY · MN · controlled entity
Directly controlled by SHPA ABC
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 13 April 2026
- IRS schema version
- 2024v5.5
- Source object
- 202611069349301331
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