Totals
- Total revenue
- $7,749,947
- Total expenses
- $6,238,585
- Contributions and grants received
- $6,501,574
- Grants paid
- $0
- Program service revenue
- $46,092
- Investment income
- $1,178,824
- Other revenue
- $23,457
- Total assets, end of year
- $4,318,574
- Total liabilities, end of year
- $6,231,397
- Net assets or fund balances, end of year
- -$1,912,823
- Program services expenses (Part IX)
- $5,387,236
- Management and general expenses
- $851,349
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $5,387,236
Program services were 86.4% 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.
-
1c · Fundraising events
$6,523
-
1e · Government grants (contributions)
$6,450,501
-
1f · All other contributions, gifts and grants
$44,550
-
1g · Noncash contributions included above
$20,959
-
2a · Program service revenue: Student Activities
total $35,200 · related or exempt $35,200
-
2b · Program service revenue: Tuition Revenue
total $10,291 · related or exempt $10,291
-
2c · Program service revenue: Med Assist
total $601 · related or exempt $601
-
3 · Investment income
total $786 · excluded $786
-
7a · Gross sales of assets other than inventory
other assets $12,870,328
-
7b · Less cost or other basis and sales expenses
other assets $11,692,290
-
7c · Gain or loss
other assets $1,178,038
-
7d · Net gain or loss
total $1,178,038 · excluded $1,178,038
-
8a · Fundraising events: gross income
$0
-
8a · Fundraising events: contributions included on line 1c
$6,523
-
8b · Fundraising events: direct expenses
$146
-
8c · Net income from fundraising events
total -$146 · excluded -$146
-
11a · Other revenue: Misc Local Revenue
total $23,603 · related or exempt $23,603
-
11e · Other revenue, total
$23,603
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $390,499 · program services $259,183 · management and general $131,316
-
7 · Other salaries and wages
total $2,453,415 · program services $2,207,830 · management and general $245,585
-
8 · Pension plan contributions
total $236,493 · program services $197,044 · management and general $39,449
-
9 · Other employee benefits
total $229,568 · program services $171,397 · management and general $58,171
-
10 · Payroll taxes
total $210,483 · program services $190,328 · management and general $20,155
-
11b · Fees: legal
total $38,825 · management and general $38,825
-
11c · Fees: accounting
total $62,773 · management and general $62,773
-
11g · Fees: other
total $1,154,599 · program services $1,099,946 · management and general $54,653
-
12 · Advertising and promotion
total $4,605 · management and general $4,605
-
13 · Office expenses
total $119,815 · program services $39,439 · management and general $80,376
-
14 · Information technology
total $133,802 · program services $35,626 · management and general $98,176
-
16 · Occupancy
total $266,745 · program services $266,745
-
17 · Travel
total $26,550 · program services $24,322 · management and general $2,228
-
22 · Depreciation, depletion and amortization
total $393,748 · program services $378,711 · management and general $15,037
-
23 · Insurance
total $17,216 · program services $17,216
-
24a · Other expenses: Program Materials and S
total $499,449 · program services $499,449
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $409,927 · end of year $836,507
-
3 · Pledges and grants receivable
beginning of year $632,683 · end of year $355,777
-
4 · Accounts receivable
beginning of year $3,020 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $178,743 · end of year $155,755
-
10a · Land, buildings and equipment: cost or other basis
$2,915,134
-
10b · Land, buildings and equipment: accumulated depreciation
$536,422
-
10c · Land, buildings and equipment, net
beginning of year $11,778,655 · end of year $2,378,712
-
15 · Other assets
beginning of year $804,658 · end of year $591,823
-
17 · Accounts payable and accrued expenses
beginning of year $379,357 · end of year $415,575
-
25 · Other liabilities
beginning of year $16,852,514 · end of year $5,815,822
-
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 -$3,424,185 · end of year -$1,912,823
Mission and programs · 2024
Mission
Sejong Academy is committed to providing an academically rigorous education to Pre-K to 12 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 Pre-K to 12 Twin Cities students.
-
Sejong Academy served approximately 317 students from grades Pre-K through 12 for the 2024-2025 school year. In 2025, Sejong Academy was excited to move to its new facility.
Expenses $5,387,236 · Revenue $69,695
As filed on the 2024 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
-
Thomas Caron
Member
- Total calculated
- $0
- Hours/week
- 1
-
Hoonseok Oh
Member/Teacher
- Total calculated
- $78,256
- From this org
- $67,318
- From related orgs
- $0
- Other
- $10,938
- Hours/week
- 40
-
Emily Choi
Member/Teacher (Beg 6.11.25)
- Total calculated
- $59,150
- From this org
- $49,773
- From related orgs
- $0
- Other
- $9,377
- Hours/week
- 40
-
Karon Hong
Member/Teacher
- Total calculated
- $55,953
- From this org
- $51,112
- From related orgs
- $0
- Other
- $4,841
- Hours/week
- 40
-
Da-in Beck
Member/Teacher (Beg 6.11.25)
- Total calculated
- $46,951
- From this org
- $39,211
- From related orgs
- $0
- Other
- $7,740
- Hours/week
- 40
-
Hyein Lee
Member/Teacher (Beg 6.11.25)
- Total calculated
- $60,400
- From this org
- $55,227
- From related orgs
- $0
- Other
- $5,173
- Hours/week
- 40
-
Brad Tipka
Executive Director/Ex-Officio
- Total calculated
- $136,820
- From this org
- $120,800
- From related orgs
- $0
- Other
- $16,020
- 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.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
Sejong Academy Affiliated Building Corporation
C · Purchase Building · MN · 100% owned · controlled entity
Directly controlled by Sejong Academy Charter School No 4215
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 15 May 2026
- IRS schema version
- 2024v5.5
- Source object
- 202611389349300621
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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