Cologne Academy
- Assets
- $8.6m
- Revenue
- $10.6m
- Investments
- $0.0
- Employees
- 136
- Location
- Cologne, MN
- Founding
- 04/2009
- Data as of
- 06/2023
- EIN
- 38-3767089
Organization Overview
Cologne Academy is located in Cologne, MN. The organization was established in 2009. 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, Cologne Academy employed 136 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cologne 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, Cologne Academy generated $10.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $10.3m during the year ending 06/2023. While expenses have increased by 5.6% 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
WHERE RICH CHARACTER DEVELOPMENT AND EFFECTIVE LEARNING ALLOW STUDENTS TO ACHIEVE ACADEMICALLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLOGNE ACADEMY PROVIDES STUDENTS IN COLOGNE AND SURROUNDING RURAL AREAS WITH A CONTENT-RICH EDUCATION BASED ON A STRONG FOUNDATION OF KNOWLEDGE THROUGH THE USE OF THE CORE KNOWLEDGE SEQUENCE AND CLASSICAL CURRICULUM. WE ARE COMMITTED TO PROVIDING A COMMUNITY SCHOOL WITH SMALL CLASS SIZES WHERE STUDENTS, PARENTS AND TEACHERS WORK TOGETHER TO ACHIEVE ACCELERATED ACADEMIC ACHIEVEMENT AND STRONG CHARACTER DEVELOPMENT. COLOGNE BEGAN WITH GRADES K-5 IN THE 2008-2009 ACADEMIC YEAR, ADDED 6TH GRADE IN 2009-2010, 7TH GRADE IN 2010-2011, AND ADDED THE FINAL GRADE, 8TH GRADE, IN 2011-2012. THE AVERAGE NUMBER OF STUDENTS FOR THE 2022-2023 SCHOOL YEAR WAS 690.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amanda Daniel Chair | OfficerTrustee | 5 | $0 |
Paul Modeen Treasurer | OfficerTrustee | 5 | $0 |
Melissa Hansen Director | Trustee | 5 | $0 |
Jenna Mcinnis Vice Chair | OfficerTrustee | 5 | $0 |
Nathan Kells Director | Trustee | 5 | $0 |
Sheryl Reddig Director | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Benjamin Bus Inc Bus Service | 6/29/23 | $1,085,201 |
Rochon Corporation Construction | 6/29/23 | $136,747 |
Quality First Janitorial & Maintenance I Janitorial | 6/29/23 | $130,654 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,715,727 |
| All other contributions, gifts, grants, and similar amounts not included above | $82,489 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,798,216 |
| Total Program Service Revenue | $591,309 |
| Investment income | $47,604 |
| 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 | $23,354 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,557,503 |
| 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. | $327,439 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $194,763 |
| Other salaries and wages | $4,975,532 |
| Pension plan accruals and contributions | $433,612 |
| Other employee benefits | $367,781 |
| Payroll taxes | $392,276 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $613,473 |
| Advertising and promotion | $0 |
| Office expenses | $703,501 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | -$1,222 |
| Travel | $973,356 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $34,569 |
| Interest | $1,690 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $96,541 |
| Insurance | $22,710 |
| All other expenses | $18,131 |
| Total functional expenses | $10,347,747 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,277,634 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,371,597 |
| 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 | $36,608 |
| Net Land, buildings, and equipment | $572,530 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,351,415 |
| Total assets | $8,609,784 |
| Accounts payable and accrued expenses | $1,015,483 |
| Grants payable | $0 |
| Deferred revenue | $6,757 |
| 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 | $0 |
| Other liabilities | $7,223,587 |
| Total liabilities | $8,245,827 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | -$430,335 |
| Paid-in or capital surplus, or land, building, or equipment fund | $570,836 |
| Retained earnings, endowment, accumulated income, or other funds | $223,456 |
| Total liabilities and net assets/fund balances | $8,609,784 |