Sejong Academy
- Assets
- $3.4m
- Revenue
- $4.7m
- Investments
- $0.0
- Employees
- 65
- Location
- St Paul, MN
- Founding
- 04/2014
- Data as of
- 06/2021
- 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 06/2021, Sejong Academy employed 65 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 06/2021, Sejong Academy generated $4.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 25.0% each year . All expenses for the organization totaled $4.5m during the year ending 06/2021. While expenses have increased by 25.5% 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
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 FUND BALANCE OF 40% DUE TO HEALTHY OVERSIGHT OF SPENDING AND INCREASED ENROLLMENT. THE SCHOOL GREW TO 260 STUDENTS FROM 233 IN THE PRIOR YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Tipka Executive Director | Officer | 50 | $104,540 |
Sean Pajack Member/teacher | Trustee | 40 | $37,925 |
Jorden Carlson Secretary/teacher | OfficerTrustee | 42 | $31,676 |
Hoonseok Oh Member/teacher | Trustee | 40 | $16,740 |
Grace Lee Chair | OfficerTrustee | 5 | $0 |
Amy Britton Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jme Transit Inc Student Transportation | 6/29/21 | $193,015 |
Done Right Foods Food Service | 6/29/21 | $138,002 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,708,101 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,633 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,723,734 |
| Total Program Service Revenue | $5,521 |
| Investment income | $17 |
| 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 | $4,741,471 |
| 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. | $183,485 |
| Compensation of current officers, directors, key employees. | $19,248 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,806,047 |
| Pension plan accruals and contributions | $537,237 |
| Other employee benefits | $162,108 |
| Payroll taxes | $148,589 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $119,941 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $383,087 |
| Advertising and promotion | $0 |
| Office expenses | $319,391 |
| Information technology | $137,099 |
| Royalties | $0 |
| Occupancy | $489,167 |
| Travel | $14,249 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,182 |
| Insurance | $14,209 |
| All other expenses | $0 |
| Total functional expenses | $4,495,516 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $719,155 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,027,491 |
| Accounts receivable, net | $3,495 |
| 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 | $104,558 |
| Net Land, buildings, and equipment | $111,133 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,388,034 |
| Total assets | $3,353,866 |
| Accounts payable and accrued expenses | $212,509 |
| Grants payable | $0 |
| Deferred revenue | $57,600 |
| 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 | $2,666,519 |
| Total liabilities | $2,936,628 |
| Net assets without donor restrictions | $400,201 |
| Net assets with donor restrictions | $17,037 |
| 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 | $3,353,866 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Sejong Academy has recieved totaling $45,478.
| Awarding Organization | Amount |
|---|---|
Saint Paul & Minnesota Foundation Saint Paul, MN PURPOSE: MULTIPLE GRANTS FOR MULTIPLE PURPOSES | $40,000 |
Tickets For Kids Foundation Pittsburgh, PA PURPOSE: TO PROVIDE TICKETS TO EVENTS FOR UNDERPRIVILEGED CHILDREN AND THEIR FAMILIES | $5,478 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Seeds Of Health Milwaukee, WI | $21,433,274 | $18,248,715 |
Twin Cities International Schools Minneapolis, MN | $10,477,770 | $17,272,708 |
Eagle Ridge Academy Minnetonka, MN | $14,507,492 | $16,854,949 |
Lakes International Language Academy Forest Lake, MN | $12,188,611 | $15,744,589 |
Parnassus Preparatory School Maple Grove, MN | $11,987,253 | $16,239,729 |
Hmong American Peace Academy Ltd Milwaukee, WI | $62,055,663 | $22,180,285 |
Seven Hills Preparatory Academy Bloomington, MN | $12,008,176 | $15,420,403 |
St Croix Preparatory Academy Stillwater, MN | $15,400,325 | $14,730,120 |
Athlos Leadership Academy Brooklyn Park, MN | $8,310,126 | $14,353,758 |
Prairie Seeds Academy Brooklyn Park, MN | $11,928,237 | $14,361,129 |
Kipp Minnesota Minneapolis, MN | $9,470,276 | $14,681,951 |
Prodeo Academy Columbia Heights, MN | $7,923,634 | $13,232,357 |