Best Academy Inc
- Assets
- $11.0m
- Revenue
- $14.3m
- Investments
- $0.0
- Employees
- 201
- Location
- Minneapolis, MN
- Founding
- 04/2009
- Data as of
- 06/2021
- EIN
- 26-1221063
Organization Overview
Best Academy Inc, operating under the name Harvest Best Academy, is located in Minneapolis, MN. The organization was established in 2009. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 06/2021, Harvest Best Academy employed 201 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Harvest Best 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 06/2021, Harvest Best Academy generated $14.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $14.3m during the year ending 06/2021. While expenses have increased by 4.5% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO INSTRUCT, EMPOWER, ENABLE, AND GUIDE CHILDREN TO ACHIEVE SUPERIOR ACADEMIC, SOCIAL, AND MORAL DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HARVEST BEST ACADEMY PROVIDED EDUCATIONAL SERVICES TO APPROXIMATELY 700 SCHOLARS IN KINDERGARTEN THROUGH EIGHTH GRADE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Mahmoud CEO | Officer | 40 | $180,329 |
Fatou Diahame School Principal | Officer | 40 | $111,346 |
Rachelle Larson School Principal | Officer | 40 | $101,401 |
Nick Boettcher Board Member | Trustee | 41 | $65,816 |
Megan Roegge Board Member | Trustee | 41 | $61,225 |
Sylvia Beevas School Principal | Officer | 40 | $56,855 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cross Town Cleaning Building Cleaning | 6/29/21 | $175,606 |
Stinson Llp (Formly Stinson Leonard Str Legal Services | 6/29/21 | $121,292 |
Designs For Learning Finance & Accounting | 6/29/21 | $259,905 |
Formative Technologies Llc Student Transportation | 6/29/21 | $598,633 |
Sunbelt Staffing School Nurse | 6/29/21 | $104,466 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $13,762,109 |
| All other contributions, gifts, grants, and similar amounts not included above | $469,329 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,231,438 |
| Total Program Service Revenue | $1,633 |
| Investment income | $6 |
| 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 | $14,343,198 |
| 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. | $587,350 |
| Compensation of current officers, directors, key employees. | $288,568 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,412,888 |
| Pension plan accruals and contributions | $546,569 |
| Other employee benefits | $584,162 |
| Payroll taxes | $513,900 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $175,788 |
| Fees for services: Accounting | $273,473 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,775,430 |
| Advertising and promotion | $0 |
| Office expenses | $560,874 |
| Information technology | $278,296 |
| Royalties | $0 |
| Occupancy | $1,973,615 |
| Travel | $52,328 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,629 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $120,657 |
| Insurance | $82,935 |
| All other expenses | $84,940 |
| Total functional expenses | $14,288,965 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,647,878 |
| Savings and temporary cash investments | $604,966 |
| Pledges and grants receivable | $10,649 |
| Accounts receivable, net | $1,872,738 |
| 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 | $262,532 |
| Net Land, buildings, and equipment | $353,354 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,233,326 |
| Total assets | $10,985,443 |
| Accounts payable and accrued expenses | $801,165 |
| Grants payable | $0 |
| Deferred revenue | $35,000 |
| 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 | $1,953,180 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,942,934 |
| Total liabilities | $22,732,279 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | -$12,100,190 |
| Paid-in or capital surplus, or land, building, or equipment fund | $353,354 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,985,443 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Best Academy Inc has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
I A Oshaughnessy Foundation Inc Bloomington, MN PURPOSE: THE PROJECT'S PURPOSE IS TO CLOSE THE OPPORTUNITY GAP OF SCHOLARS BEING EXPOSED TO STRING MUSIC THROUGH THE JANE STAMSTAD STRINGS PROGRAM. | $20,000 |
Jay And Rose Phillips Family Foundation Of Minnesota Minneapolis, MN PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Best Academy Inc Minneapolis, MN | $10,985,443 | $14,343,198 |
Leech Lake Tribal College Cass Lake, MN | $13,791,510 | $6,377,712 |
Wisconsin Association Of Independent Colleges And Universit Madison, WI | $20,602,047 | $4,896,137 |
Ascendium Education Group Inc Madison, WI | $2,297,580,826 | $30,305,077 |
Charlie Life And Leadership Academy Minneapolis, MN | $444,051 | $925,647 |
Stem Academy Inc Brookfield, WI | $965,909 | $785,708 |
Christian College Consortium Inc Shoreview, MN | $8,887,048 | $1,147,619 |
Lutheran Educational Conf Of North America Cedarburg, WI | $572,097 | $203,787 |
Central Association Of College And University Business Officers Madison, WI | $2,240,627 | $154,798 |
Cim North Central Region Patrons Group Mendota Heights, MN | $318,039 | $341,000 |
Wisconsin Education Fairs Inc Fond Du Lac, WI | $191,059 | $0 |
Range Engineering Council Hibbing, MN | $80,004 | $0 |