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Nonprofiteer
← GLOBAL ACADEMY

Form 990 for tax year 2022

Filed by GLOBAL ACADEMY.

Totals

Total revenue
$8,458,729
Total expenses
$8,565,275
Contributions and grants received
$8,454,605
Grants paid
$0
Program service revenue
$2,848
Investment income
$0
Other revenue
$1,276
Total assets, end of year
$4,494,594
Total liabilities, end of year
$6,379,924
Net assets or fund balances, end of year
-$1,885,330
Program services expenses (Part IX)
$7,593,875
Management and general expenses
$971,400
Fundraising expenses
$0
Program service expenses (Part III)
$7,593,875

Program services were 88.7% 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)

    $8,290,337

  • 1f · All other contributions, gifts and grants

    $164,268

  • 2a · Program service revenue: FEES FROM PATRONS

    total $1,639 · related or exempt $1,639

  • 2b · Program service revenue: MEDICAL ASSISTANCE

    total $1,209 · related or exempt $1,209

  • 10a · Gross sales of inventory

    $2,025

  • 10b · Cost of goods sold

    $2,210

  • 10c · Net income from sales of inventory

    total -$185 · excluded -$185

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $1,461 · related or exempt $1,461

  • 11e · Other revenue, total

    $1,461

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $726,461 · program services $516,074 · management and general $210,387

  • 7 · Other salaries and wages

    total $3,253,387 · program services $2,986,258 · management and general $267,129

  • 8 · Pension plan contributions

    total $267,964 · program services $245,842 · management and general $22,122

  • 9 · Other employee benefits

    total $513,341 · program services $466,165 · management and general $47,176

  • 10 · Payroll taxes

    total $282,518 · program services $250,601 · management and general $31,917

  • 11b · Fees: legal

    total $3,000 · management and general $3,000

  • 11c · Fees: accounting

    total $123,200 · program services $16,500 · management and general $106,700

  • 11g · Fees: other

    total $1,240,828 · program services $1,197,618 · management and general $43,210

  • 13 · Office expenses

    total $146,249 · program services $109,172 · management and general $37,077

  • 14 · Information technology

    total $379,845 · program services $238,275 · management and general $141,570

  • 16 · Occupancy

    total $960,545 · program services $960,545

  • 19 · Conferences, conventions and meetings

    total $35,838 · program services $30,924 · management and general $4,914

  • 20 · Interest

    total $12,969 · program services $12,969

  • 22 · Depreciation, depletion and amortization

    total $219,021 · program services $209,148 · management and general $9,873

  • 23 · Insurance

    total $19,168 · program services $19,168

  • 24a · Other expenses: INSTRUCTIONAL SUPPLIES

    total $219,675 · program services $219,675

  • 24b · Other expenses: RENTALS & MAINTENANCE

    total $103,500 · program services $103,500

  • 24c · Other expenses: DUES & MEMBERSHIPS

    total $46,616 · program services $291 · management and general $46,325

  • 24d · Other expenses: FIELD TRIPS

    total $18,980 · program services $18,980

  • 24e · All other expenses

    total -$7,830 · program services -$7,830

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,332,924 · end of year $1,112,718

  • 4 · Accounts receivable

    beginning of year $934,259 · end of year $869,026

  • 9 · Prepaid expenses and deferred charges

    beginning of year $31,872 · end of year $59,126

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

    $1,098,567

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

    $402,489

  • 10c · Land, buildings and equipment, net

    beginning of year $764,807 · end of year $696,078

  • 15 · Other assets

    beginning of year $1,670,449 · end of year $1,757,646

  • 17 · Accounts payable and accrued expenses

    beginning of year $606,130 · end of year $469,995

  • 19 · Deferred revenue

    beginning of year $2,981 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $428,520 · end of year $0

  • 25 · Other liabilities

    beginning of year $6,303,744 · end of year $5,909,929

  • 29 · Capital stock, trust principal or current funds

    beginning of year -$2,943,351 · end of year -$2,581,408

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

    beginning of year $336,287 · end of year $696,078

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

GLOBAL ACADEMY IS A FREE, CHARTERED PUBLIC ELEMENTARY AND MIDDLE SCHOOL THAT SEEKS TO SERVE A DIVERSE GROUP OF STUDENTS. GLOBAL ACADEMY IS COMMITTED TO SERVICE IN THE BROADER WORLD BASED ON THE GOALS OF THE INTERNATIONAL BACCALAUREATE ORGANIZATION. EMPOWERED BY ACADEMIC RIGOR, GRADUATES OF GLOBAL ACADEMY WILL BE FULLY PREPARED FOR SUCCESS AND LEADERSHIP IN CHALLENGING HIGH SCHOOL PROGRAMS.

Activities or mission (Part I)

TO PREPARE STUDENTS FOR SUCCESS AND LEADERSHIP IN CHALLENGING HIGH SCHOOL PROGRAMS.

  • GLOBAL ACADEMY IS A NONPROFIT CORPORATION THAT WAS FORMED AND BEGAN OPERATING IN OCTOBER 2007, IN ACCORDANCE WITH MINNESOTA STATUTES. THE SCHOOL IS AUTHORIZED BY THE UNIVERSITY OF ST. THOMAS. DURING FISCAL YEAR 2022-2023, THE SCHOOL HAD APPROXIMATELY 400 STUDENTS ENROLLED.

    Expenses $7,593,875 · Revenue $4,309

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dannika Wright

    SECRETARY/TEACHER

    Total calculated
    $86,245
    From this org
    $71,960
    From related orgs
    $0
    Other
    $14,285
    Hours/week
    41

  • Kate Larson

    BOARD MEMBER/TEACHER

    Total calculated
    $88,554
    From this org
    $73,597
    From related orgs
    $0
    Other
    $14,957
    Hours/week
    41

  • Emily Fisher

    BOARD CHAIR/TEACHER

    Total calculated
    $98,905
    From this org
    $67,043
    From related orgs
    $0
    Other
    $31,862
    Hours/week
    41

  • Susan Eltawely

    TREASURER/TEACHER

    Total calculated
    $106,123
    From this org
    $76,109
    From related orgs
    $0
    Other
    $30,014
    Hours/week
    41

  • Stephanie Klauer

    BOARD MEMBER/TEACHER

    Total calculated
    $81,581
    From this org
    $66,336
    From related orgs
    $0
    Other
    $15,245
    Hours/week
    41

  • Kim Fields

    BOARD MEMBER/TEACHER

    Total calculated
    $94,703
    From this org
    $77,052
    From related orgs
    $0
    Other
    $17,651
    Hours/week
    41

  • Hafsa Abubakar

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sawsan Natsheh

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Helen Fisk

    EXECUTIVE DIRECTOR

    Total calculated
    $202,552
    From this org
    $167,272
    From related orgs
    $0
    Other
    $35,280
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $167,272
    Bonus
    $0
    Other
    $0
    Deferred
    $22,086
    Nontaxable benefits
    $13,194
    Filer's total
    $202,552

  • Melissa Storbakken

    ASSISTANT DIRECTOR

    Total calculated
    $164,107
    From this org
    $141,561
    From related orgs
    $0
    Other
    $22,546
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $141,561
    Bonus
    $0
    Other
    $0
    Deferred
    $14,974
    Nontaxable benefits
    $7,572
    Filer's total
    $164,107

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

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.

  • GLOBAL ACADEMY ABC

    501(C)(3) · HOLD AND LEASE SCHOOL FACILITY · MN · controlled entity

    Directly controlled by GLOBAL ACADEMY

Provenance

Return type
form_990
Tax year
2022
Filed
13 May 2024
IRS schema version
2022v5.0
Source object
202401369349300120

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