Noble Academy
- Assets
- $17.1m
- Revenue
- $10.0m
- Investments
- $0.0
- Employees
- 71
- Location
- Brooklyn Park, MN
- Founding
- 11/2007
- Data as of
- 06/2023
- EIN
- 87-0790480
Organization Overview
Noble Academy is located in Brooklyn Park, MN. The organization was established in 2007. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2023, Noble Academy employed 71 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Noble 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, Noble Academy generated $10.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $7.8m during the year ending 06/2023. While expenses have increased by 0.9% 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 PROVIDE QUALITY, RELEVANT AND MULTICULTURAL EDUCATION FOR ALL STUDENTS WHICH MEETS THE INTELLECTUAL, CREATIVE, AND SOCIAL NEEDS OF EACH CHILD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NOBLE ACADEMY PROVIDED A HIGH QUALITY EDUCATION TO STUDENTS GRADES K-9 DURING THE FISCAL YEAR ENDED 6/30/23. SCHOOL HAS MAINTAINED FINANCIAL STABILITY THROUGH USE OF ADDITIONAL GRANTS WHILE ENROLLMENT DECLINED COMPARED TO PRIOR YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chai Vang Chair | OfficerTrustee | 40 | $63,193 |
Pheng Vue Vice Chair | OfficerTrustee | 1 | $0 |
Larnix Moua Member | Trustee | 1 | $0 |
Lu DE Vang Secretary | OfficerTrustee | 40 | $51,459 |
Mai Blia Fortin Treasurer | OfficerTrustee | 1 | $0 |
Ong Yang Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Excellence In Education Charter Management Organization | 6/29/23 | $973,172 |
Northstar Bus Lines Student Transportation | 6/29/23 | $642,270 |
Southwest Foodservice Excellence Llc Food Service | 6/29/23 | $565,158 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,799,367 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,799,367 |
| Total Program Service Revenue | $57,722 |
| Investment income | $156,837 |
| 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 | $10,013,926 |
| 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. | $469,279 |
| Compensation of current officers, directors, key employees. | $308,674 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,954,476 |
| Pension plan accruals and contributions | -$634,324 |
| Other employee benefits | $303,101 |
| Payroll taxes | $169,643 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,533,549 |
| Advertising and promotion | $10,114 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,808,927 |
| Travel | $695,391 |
| 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 | $261,834 |
| Insurance | $30,383 |
| All other expenses | $74,826 |
| Total functional expenses | $7,763,594 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $46,503 |
| Savings and temporary cash investments | $11,197,899 |
| Pledges and grants receivable | $1,287,539 |
| Accounts receivable, net | $0 |
| 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 | $324,058 |
| Net Land, buildings, and equipment | $1,103,185 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,160,773 |
| Total assets | $17,119,957 |
| Accounts payable and accrued expenses | $350,863 |
| Grants payable | $0 |
| Deferred revenue | $54,000 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,504,497 |
| Total liabilities | $5,909,360 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $9,599,411 |
| Paid-in or capital surplus, or land, building, or equipment fund | $1,103,185 |
| Retained earnings, endowment, accumulated income, or other funds | $508,001 |
| Total liabilities and net assets/fund balances | $17,119,957 |