Sejong Academy
- Assets
- $15.3m
- Revenue
- $6.2m
- Investments
- $0.0
- Employees
- 94
- Location
- St Paul, MN
- Founding
- 04/2014
- Data as of
- 06/2023
- EIN
- 46-1710874
Organization Overview
Sejong Academy is located in St Paul, MN. The organization was established in 2014. 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, Sejong Academy employed 94 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sejong 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, Sejong Academy generated $6.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 22.2% each year . All expenses for the organization totaled $7.6m during the year ending 06/2023. While expenses have increased by 26.6% 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
THE ACADEMY PROVIDES AN ACADEMICALLY RIGOROUS EDUCATION TO PREK-10 TWIN CITIES STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEJONG ACADEMY ENDED THE YEAR WITH A HEALTHY FUND BALANCE AND GROWING ENROLLMENT WITH APPROXIMATELY 317 STUDENTS SERVED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Grace Lee Chair | OfficerTrustee | 5 | $0 |
Erik Funk Treasurer | OfficerTrustee | 1 | $0 |
Anna Carpenter Member | Trustee | 1 | $0 |
Thomas Caron Member/teacher | Trustee | 40 | $54,092 |
Pawku Hser Member/teacher | Trustee | 40 | $18,190 |
Hoonseok Oh Member/teacher | Trustee | 40 | $58,819 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jme Trasportation Transportation Services | 6/29/23 | $521,308 |
Ride Safe Transportation Transportation Services | 6/29/23 | $327,216 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,036,483 |
| All other contributions, gifts, grants, and similar amounts not included above | $68,330 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,104,813 |
| Total Program Service Revenue | $44,393 |
| Investment income | $2,196 |
| 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 | $6,181,460 |
| 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. | $267,965 |
| Compensation of current officers, directors, key employees. | $20,526 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,986,866 |
| Pension plan accruals and contributions | $786,106 |
| Other employee benefits | $198,351 |
| Payroll taxes | $241,026 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,144 |
| Fees for services: Accounting | $72,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,111,669 |
| Advertising and promotion | $0 |
| Office expenses | $86,389 |
| Information technology | $77,221 |
| Royalties | $0 |
| Occupancy | $203,449 |
| Travel | $73,035 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $315,703 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $766,055 |
| Insurance | $19,770 |
| All other expenses | $0 |
| Total functional expenses | $7,568,112 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $817,762 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $499,570 |
| Accounts receivable, net | $3,020 |
| 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 | $31,624 |
| Net Land, buildings, and equipment | $12,649,208 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,308,006 |
| Total assets | $15,309,190 |
| Accounts payable and accrued expenses | $272,205 |
| 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 | $0 |
| Other liabilities | $16,869,209 |
| Total liabilities | $17,141,414 |
| Net assets without donor restrictions | -$1,839,549 |
| Net assets with donor restrictions | $7,325 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $15,309,190 |