Twin Cities Academy
- Assets
- $7.5m
- Revenue
- $9.7m
- Investments
- $0.0
- Employees
- 115
- Location
- St Paul, MN
- Founding
- 07/2004
- Data as of
- 06/2022
- EIN
- 20-0257761
Organization Overview
Twin Cities Academy is located in St Paul, 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, Twin Cities Academy employed 115 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Twin Cities Academy 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, Twin Cities Academy generated $9.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.1% each year . All expenses for the organization totaled $9.9m during the year ending 06/2022. While expenses have increased by 20.8% 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
SEE PART III, LINE 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TWIN CITIES ACADEMY PROVIDES A COMPREHENSIVE PROGRAM OF INSTRUCTION TO STUDENTS IN GRADES SIX THROUGH TWELVE. DURING THE FISCAL YEAR ENDED JUNE 30, 2022, TWIN CITIES ACADEMY SERVED AN ESTIMATED 480 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Betsy Lueth Executive Director | Officer | 41 | $140,521 |
Alexandra Howes Former Member/teacher | 40 | $67,683 | |
Andrew Ng Secretary/teacher | OfficerTrustee | 40 | $66,976 |
Lisa Dennis Board Member/teacher | Trustee | 40 | $61,280 |
Erin Enquist Board Member/teacher | Trustee | 40 | $55,369 |
Elizabeth Neilson Former Member/teacher | 40 | $49,029 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Centerline Charter Corp Student Transportation | 6/29/22 | $530,188 |
Creatively Focused Student Support Services | 6/29/22 | $125,086 |
Blue Bell Enterprises Inc Food Service | 6/29/22 | $107,525 |
Gostat Transportation Services Student Transportation | 6/29/22 | $103,785 |
Syand Corporation It Support | 6/29/22 | $102,927 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,620,489 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,881 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,623,370 |
| Total Program Service Revenue | $117,942 |
| Investment income | $0 |
| 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 | $1,761 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,744,696 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $370,119 |
| Compensation of current officers, directors, key employees. | $154,056 |
| Compensation to disqualified persons | $139,583 |
| Other salaries and wages | $4,051,732 |
| Pension plan accruals and contributions | $334,771 |
| Other employee benefits | $613,783 |
| Payroll taxes | $323,095 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,594 |
| Fees for services: Accounting | $112,510 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $622,876 |
| Advertising and promotion | $0 |
| Office expenses | $196,275 |
| Information technology | $250,672 |
| Royalties | $0 |
| Occupancy | $1,272,644 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $49,510 |
| Interest | $1,481 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $245,119 |
| Insurance | $22,998 |
| All other expenses | $74,731 |
| Total functional expenses | $9,868,085 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,683,468 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,121,541 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $149,273 |
| Net Land, buildings, and equipment | $1,005,439 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,556,234 |
| Total assets | $7,515,955 |
| Accounts payable and accrued expenses | $786,505 |
| Grants payable | $0 |
| Deferred revenue | $8,421 |
| 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 | $57,084 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,787,629 |
| Total liabilities | $8,639,639 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | -$2,072,039 |
| Paid-in or capital surplus, or land, building, or equipment fund | $948,355 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,515,955 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Twin Cities Academy has recieved totaling $6,157.
| Awarding Organization | Amount |
|---|---|
Minnesota State High School League Foundation Brooklyn Center, MN PURPOSE: Offset student participation fees and transportation. | $6,157 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Prairie Seeds Academy Brooklyn Park, MN | $11,928,237 | $14,361,129 |
Kipp Minnesota Minneapolis, MN | $9,470,276 | $14,681,951 |
Prodeo Academy Columbia Heights, MN | $7,923,634 | $13,232,357 |