Team Academy
- Assets
- $1.6m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 35
- Location
- Waseca, MN
- Founding
- 02/2006
- Data as of
- 06/2023
- EIN
- 20-1056964
Organization Overview
Team Academy is located in Waseca, MN. The organization was established in 2006. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2023, Team Academy employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Team 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 06/2023, Team Academy generated $1.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $2.3m during the year ending 06/2023. While expenses have increased by 3.5% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE AN ELEMENTARY PUBLIC CHARTER SCHOOL IN WASECA UNDER THE LAWS OF THE STATE OF MINNESOTA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TEAM ACADEMY PROVIDES AN EDUCATIONAL PROGRAM TO APPROXIMATELY 108 ELEMENTARY STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jed Kalbow Chair | OfficerTrustee | 1 | $0 |
Jennifer Brittain Vice Chair | OfficerTrustee | 40 | $57,275 |
Christine Hering Treasurer | OfficerTrustee | 40 | $63,170 |
Janel Schmidt Director | Trustee | 40 | $60,421 |
Denise Gilbertson Director | Trustee | 40 | $51,247 |
Polly Christensen Director | Trustee | 40 | $50,470 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Engelsma Limited Partnership Rent | 6/29/20 | $211,066 |
Waseca Public Schools Food & Special Ed Services | 6/29/20 | $121,985 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,739,682 |
| All other contributions, gifts, grants, and similar amounts not included above | $500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,740,182 |
| Total Program Service Revenue | $60,026 |
| Investment income | $1,948 |
| 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 | $1,802,156 |
| 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. | $408,995 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $859,536 |
| Pension plan accruals and contributions | $69,418 |
| Other employee benefits | $78,487 |
| Payroll taxes | $87,674 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,206 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $82,157 |
| Advertising and promotion | $0 |
| Office expenses | $132,910 |
| Information technology | $12,602 |
| Royalties | $0 |
| Occupancy | $202,106 |
| Travel | $6,829 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,305 |
| Interest | $43,621 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $220,435 |
| Insurance | $11,318 |
| All other expenses | $0 |
| Total functional expenses | $2,282,505 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $288,421 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $216,939 |
| 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 | $8,182 |
| Net Land, buildings, and equipment | $60,397 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,008,880 |
| Total assets | $1,582,819 |
| Accounts payable and accrued expenses | $157,261 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $488,047 |
| Other liabilities | $1,676,755 |
| Total liabilities | $2,322,063 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | -$967,764 |
| Paid-in or capital surplus, or land, building, or equipment fund | $97,772 |
| Retained earnings, endowment, accumulated income, or other funds | $130,748 |
| Total liabilities and net assets/fund balances | $1,582,819 |