Spero Academy
- Assets
- $4.6m
- Revenue
- $10.0m
- Investments
- $0.0
- Employees
- 126
- Location
- Minneapolis, MN
- Founding
- 05/2004
- Data as of
- 06/2022
- EIN
- 20-0309518
Organization Overview
Spero Academy is located in Minneapolis, MN. The organization was established in 2004. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Spero Academy employed 126 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spero 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, Spero Academy generated $10.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.0% each year . All expenses for the organization totaled $9.9m during the year ending 06/2022. While expenses have increased by 14.7% 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
SPERO ACADEMY COMPLETED YEAR 18 OF OPERATION ON JUNE 30, 2022.ON JUNE 30, 2022, SPERO ACADEMY SERVED A TOTAL OF 142 STUDENTS AND OVER 92% OF THE STUDENT POPULATION ARE STUDENTS WITH DISABILITIES. THE SCHOOL'S WAIT-LIST HAS GROWN TO OVER 300 STUDENTS, WHICH SUPPORTS THE PLAN TO REACH MAXIMUM CAPACITY OF 225 STUDENTS BY YEAR FIVE IN THE NEW FACILITY. ALL BUDGETARY GOALS ASSOCIATED WITH THE OPERATIONS OF THE NEW FACILITY AND GROWING ENROLLMENT ARE BEING MET.THE SCHOOL CONTINUES TO RECEIVE HIGH MARKS IN ALL EVALUATIONS FROM THE UNIVERSITY OF ST. THOMAS, OUR AUTHORIZER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Diane Pangal Executive Director | Officer | 40 | $85,672 |
Katie Rose Kammerude Secretary/teacher | OfficerTrustee | 41 | $52,853 |
Davonte Robertson Former Member/teacher | 41 | $47,397 | |
Donna Piazza Board Chair | OfficerTrustee | 1 | $0 |
Stacey Monsen Vice-Chair | OfficerTrustee | 1 | $0 |
Karen Marshall Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Contemporary Transportation Student Transportation | 6/29/22 | $917,203 |
Pediatric Psych Services Psychologist | 6/29/22 | $107,843 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,844,793 |
| All other contributions, gifts, grants, and similar amounts not included above | $621 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,845,414 |
| Total Program Service Revenue | $112,506 |
| 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 | $864 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,958,889 |
| 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. | $179,646 |
| Compensation of current officers, directors, key employees. | $119,882 |
| Compensation to disqualified persons | $42,618 |
| Other salaries and wages | $4,624,621 |
| Pension plan accruals and contributions | $353,489 |
| Other employee benefits | $501,352 |
| Payroll taxes | $362,258 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,310 |
| Fees for services: Accounting | $59,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $486,767 |
| Advertising and promotion | $0 |
| Office expenses | $120,214 |
| Information technology | $108,020 |
| Royalties | $0 |
| Occupancy | $1,650,581 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $25,464 |
| Interest | $5,431 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $56,145 |
| Insurance | $39,704 |
| All other expenses | $33,144 |
| Total functional expenses | $9,882,062 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $946,836 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,030,442 |
| 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 | $23,018 |
| Net Land, buildings, and equipment | $227,671 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,373,715 |
| Total assets | $4,601,682 |
| Accounts payable and accrued expenses | $417,614 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $5,198 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,374,552 |
| Total liabilities | $6,797,364 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | -$2,418,155 |
| Paid-in or capital surplus, or land, building, or equipment fund | $222,473 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,601,682 |