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Nonprofiteer
← HIGHER GROUND BUILDING COMPANY

Form 990 for tax year 2023

Filed by HIGHER GROUND BUILDING COMPANY.

Totals

Total revenue
$2,220,929
Total expenses
$2,191,659
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,881,354
Investment income
$239,575
Other revenue
$100,000
Total assets, end of year
$21,956,746
Total liabilities, end of year
$28,358,517
Net assets or fund balances, end of year
-$6,401,771
Program services expenses (Part IX)
$2,191,659
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$2,191,659

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: RENT REVENUE

    total $1,881,354 · related or exempt $1,881,354

  • 3 · Investment income

    total $239,575 · excluded $239,575

  • 11a · Other revenue: INSURANCE RECOVERY

    total $100,000 · excluded $100,000

  • 11e · Other revenue, total

    $100,000

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $14,100 · program services $14,100

  • 11g · Fees: other

    total $71,196 · program services $71,196

  • 16 · Occupancy

    total $1,374,913 · program services $1,374,913

  • 22 · Depreciation, depletion and amortization

    total $731,450 · program services $731,450

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $252,405 · end of year $387,851

  • 2 · Savings and temporary cash investments

    beginning of year $6,113,602 · end of year $4,022,527

  • 10a · Land, buildings and equipment: cost or other basis

    $25,492,739

  • 10b · Land, buildings and equipment: accumulated depreciation

    $7,946,371

  • 10c · Land, buildings and equipment, net

    beginning of year $15,046,054 · end of year $17,546,368

  • 17 · Accounts payable and accrued expenses

    beginning of year $115,143 · end of year $114,009

  • 20 · Tax-exempt bond liabilities

    beginning of year $27,073,930 · end of year $26,758,370

  • 25 · Other liabilities

    beginning of year $654,029 · end of year $1,486,138

  • 29 · Capital stock, trust principal or current funds

    beginning of year $8,485,081 · end of year -$23,782,361

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year -$15,046,054 · end of year $17,546,368

  • 31 · Retained earnings, endowment or other funds

    beginning of year $129,932 · end of year -$165,778

Mission and programs · 2023

Mission

MANAGE A BUILDING FOR LEASE TO ITS BENEFICIARY ORGANIZATION HIGHER GROUND ACADEMY.

  • TO PURCHASE, CONSTRUCT, AND MANAGE REAL ESTATE AND A BUILDING FOR LEASE TO ITS BENEFICIARY ORGANIZATION HIGHER GROUND ACADEMY, A MINNESOTA CHARTER SCHOOL THAT SERVED AN ESTIMATED 1,080 STUDENTS DURING THE FISCAL YEAR ENDED JUNE 30, 2024.

    Expenses $2,191,659 · Revenue $1,881,354

As filed on the 2023 return.

Listed in Part VII

  • Neliya Tkachenko

    SECRETARY/TREASURER

    Total calculated
    $76,775
    From this org
    $0
    From related orgs
    $68,397
    Other
    $8,378
    Hours/week
    2 + 40 related

  • Mary Tate

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Bertrand Wilson

    CHAIR

    Total calculated
    $0
    Hours/week
    1

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.

Provenance

Return type
form_990
Tax year
2023
Filed
13 January 2025
IRS schema version
2023v6.0
Source object
202520219349300022

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