Nova Classical Academy
- Assets
- $8.9m
- Revenue
- $12.7m
- Investments
- $0.0
- Employees
- 154
- Location
- Saint Paul, MN
- Founding
- 06/2002
- Data as of
- 06/2021
- EIN
- 26-0035570
Organization Overview
Nova Classical Academy is located in Saint Paul, MN. The organization was established in 2002. 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, Nova Classical Academy employed 154 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nova Classical 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, Nova Classical Academy generated $12.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $11.7m during the year ending 06/2021. While expenses have increased by 4.2% 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
OFFERING A RIGOROUS, THROUGH, SYSTEMATIC, AND CHALLENGING CLASSICAL EDUCATION TO K-12 STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN A SUPPORTIVE COMMUNITY AND THROUGH A SYSTEMATIC, ACCELERATED COLLEGE-PREPARATORY EDUCATION IN THE CLASSICAL TRADITION, NOVA CLASSICAL ACADEMY CHALLENGES IT'S STUDENTS TO DEVELOP INTELLECT, TO ATTAIN THE HABITS OF LEARNING AND MASTERY, AND TO LIVE A VIRTUOUS LIFE OF DUTY AND IDEALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Brett Wedlund Executive Director | Officer | 50 | $134,043 |
Brooke Tousignant Lower School Principal | Officer | 50 | $104,870 |
Michael Pelofske Upper School Principal | Trustee | 50 | $81,643 |
Missy Johnson Academic Director | Trustee | 50 | $78,949 |
Rebecca Lund Secretary | OfficerTrustee | 50 | $73,380 |
Sasha Ross Treasurer | OfficerTrustee | 50 | $56,218 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Ribbon Cleaning Cleaning Services | 6/29/21 | $183,006 |
Strategic Staffing Solutions Sped Services | 6/29/21 | $260,502 |
Monarch Transportation Transportation | 6/29/21 | $420,713 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $12,356,017 |
| All other contributions, gifts, grants, and similar amounts not included above | $154,134 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,510,151 |
| Total Program Service Revenue | $183,424 |
| Investment income | $5,868 |
| 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 | $12,699,443 |
| 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. | $748,863 |
| Compensation of current officers, directors, key employees. | $505,075 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,063,501 |
| Pension plan accruals and contributions | $483,992 |
| Other employee benefits | $572,962 |
| Payroll taxes | $426,399 |
| Fees for services: Management | $159,766 |
| Fees for services: Legal | $6,097 |
| Fees for services: Accounting | $51,781 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $463,245 |
| Advertising and promotion | $5,165 |
| Office expenses | $97,766 |
| Information technology | $280,984 |
| Royalties | $0 |
| Occupancy | $2,142,558 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,152 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $65,095 |
| Insurance | $0 |
| All other expenses | $515,581 |
| Total functional expenses | $11,690,757 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,777,347 |
| Pledges and grants receivable | $1,091,783 |
| 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 | $70,442 |
| Net Land, buildings, and equipment | $312,911 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,660,977 |
| Total assets | $8,913,460 |
| Accounts payable and accrued expenses | $549,981 |
| 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 | $11,811,941 |
| Total liabilities | $12,361,922 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | -$3,761,373 |
| Paid-in or capital surplus, or land, building, or equipment fund | $312,911 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $8,913,460 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Nova Classical Academy has recieved totaling $40,556.
| Awarding Organization | Amount |
|---|---|
Mightycause Charitable Foundation Marianna, FL PURPOSE: UNRESTRICTED | $31,833 |
Friends Of Education Minnetonka, MN PURPOSE: GENERAL SUPPORT | $5,250 |
American Express Foundation New York, NY PURPOSE: GENERAL SUPPORT | $1,500 |
American Express Foundation New York, NY PURPOSE: GENERAL SUPPORT | $1,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $473 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hmong Academy St Paul, MN | $37,890,238 | $35,478,590 |
Carmen High School Of Science And Technology Inc Milwaukee, WI | $26,487,634 | $24,006,774 |
Lionsgate Academy Minnetonka, MN | $8,728,304 | $20,147,818 |
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 |