Partnership Academy Inc
- Assets
- $7.4m
- Revenue
- $11.2m
- Investments
- $0.0
- Employees
- 126
- Location
- Minneapolis, MN
- Founding
- 05/2004
- Data as of
- 06/2022
- EIN
- 01-0701608
Organization Overview
Partnership Academy Inc is located in Minneapolis, MN. The organization was established in 2004. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Partnership Academy Inc employed 126 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Partnership Academy Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Partnership Academy Inc generated $11.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $11.0m during the year ending 06/2022. While expenses have increased by 12.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CREATE LEARNING EXPERIENCES AND PARTNERSHIPS EMPOWERING STUDENTS TO ACHIEVE THEIR GREATEST POTENTIAL
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF AN EDUCATIONAL INSTITUTION FOR APPROXIMATELY 530 STUDENTS IN GRADES PRESCHOOL THROUGH EIGHTH. ENROLLMENT AT THE SCHOOL CONTINUES TO BE STRONG AND PARENT SATISFACTION IS VERY HIGH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Hendricks Executive Director | Officer | 41 | $135,514 |
Jessica Arnoldi Secretary/teacher | OfficerTrustee | 41 | $61,360 |
Christa Heiligenthal Treasurer/teacher | OfficerTrustee | 41 | $53,048 |
Lena Stackhouse-Rogers Community Member/teacher | Trustee | 41 | $41,695 |
Craig Noles Teacher | Trustee | 41 | $23,658 |
Veronica Ramos Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Monarch Bus Service Inc Transportation | 6/29/22 | $420,120 |
Ckc Good Foods School Meals | 6/29/22 | $379,931 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,929,477 |
| All other contributions, gifts, grants, and similar amounts not included above | $207,290 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,136,767 |
| Total Program Service Revenue | $0 |
| Investment income | $34 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,186,536 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $357,475 |
| Compensation of current officers, directors, key employees. | $150,381 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,641,792 |
| Pension plan accruals and contributions | $476,570 |
| Other employee benefits | $590,371 |
| Payroll taxes | $444,311 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,466 |
| Fees for services: Accounting | $81,705 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $654,819 |
| Advertising and promotion | $2,281 |
| Office expenses | $385,820 |
| Information technology | $44,635 |
| Royalties | $0 |
| Occupancy | $861,267 |
| Travel | $26,963 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $30,880 |
| Interest | $36,295 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $61,593 |
| Insurance | $41,404 |
| All other expenses | $20,518 |
| Total functional expenses | $10,993,641 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,006,616 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,871,967 |
| Accounts receivable, net | $34,433 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $72,508 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,305 |
| Net Land, buildings, and equipment | $65,066 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,358,488 |
| Total assets | $7,413,383 |
| Accounts payable and accrued expenses | $1,268,726 |
| Grants payable | $0 |
| Deferred revenue | $125,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $20,838 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,542,749 |
| Total liabilities | $10,957,313 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | -$3,608,996 |
| Paid-in or capital surplus, or land, building, or equipment fund | $65,066 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,413,383 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Partnership Academy Inc has recieved totaling $5,109.
| Awarding Organization | Amount |
|---|---|
Krisbin Foundation Wayzata, MN PURPOSE: DONATION | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $109 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hmong Academy St Paul, MN | $37,890,238 | $35,478,590 |
Carmen High School Of Science And Technology Inc Milwaukee, WI | $26,487,634 | $24,006,774 |
Lionsgate Academy Minnetonka, MN | $8,728,304 | $20,147,818 |
Seeds Of Health Milwaukee, WI | $21,433,274 | $18,248,715 |
Twin Cities International Schools Minneapolis, MN | $10,477,770 | $17,272,708 |
Eagle Ridge Academy Minnetonka, MN | $14,507,492 | $16,854,949 |
Lakes International Language Academy Forest Lake, MN | $12,188,611 | $15,744,589 |
Parnassus Preparatory School Maple Grove, MN | $11,987,253 | $16,239,729 |
Hmong American Peace Academy Ltd Milwaukee, WI | $62,055,663 | $22,180,285 |
Seven Hills Preparatory Academy Bloomington, MN | $12,008,176 | $15,420,403 |
St Croix Preparatory Academy Stillwater, MN | $15,400,325 | $14,730,120 |
Athlos Leadership Academy Brooklyn Park, MN | $8,310,126 | $14,353,758 |