Nova Classical Academy
- Assets
- $8.6m
- Revenue
- $12.1m
- Investments
- $0.0
- Employees
- 155
- Location
- Saint Paul, MN
- Founding
- 06/2002
- Data as of
- 06/2022
- 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 06/2022, Nova Classical Academy employed 155 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 06/2022, Nova Classical Academy generated $12.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $11.2m during the year ending 06/2022. While expenses have increased by 3.0% per year over the past 7 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
2022
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 | $133,699 |
Brooke Tousignant Lower School Principal | Officer | 50 | $110,675 |
Michael Pelofske Upper School Principal | Officer | 50 | $82,532 |
Missy Johnson Academic Director | Officer | 50 | $81,981 |
Rebecca Lund Secretary | OfficerTrustee | 50 | $74,935 |
Diane Ruday Director | Trustee | 50 | $51,304 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Ribbon Cleaning Cleaning Services | 6/29/22 | $207,674 |
Pride Transportation Bus Services Llc Transportation | 6/29/22 | $220,183 |
Strategic Staffing Solutions Sped Services | 6/29/22 | $178,075 |
Ckc Good Food Food Service | 6/29/22 | $158,181 |
Monarch Transportation Transportation | 6/29/22 | $152,409 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $11,338,320 |
| All other contributions, gifts, grants, and similar amounts not included above | $242,522 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,580,842 |
| Total Program Service Revenue | $503,690 |
| Investment income | $4,792 |
| 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 | $12,089,324 |
| 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. | $770,459 |
| Compensation of current officers, directors, key employees. | $518,133 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,798,920 |
| Pension plan accruals and contributions | $138,124 |
| Other employee benefits | $525,835 |
| Payroll taxes | $412,144 |
| Fees for services: Management | $278,464 |
| Fees for services: Legal | $9,063 |
| Fees for services: Accounting | $105,869 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $565,059 |
| Advertising and promotion | $0 |
| Office expenses | $193,311 |
| Information technology | $164,758 |
| Royalties | $0 |
| Occupancy | $2,231,552 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,265 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $63,131 |
| Insurance | $57,319 |
| All other expenses | $0 |
| Total functional expenses | $11,218,431 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,010,078 |
| Pledges and grants receivable | $1,247,976 |
| Accounts receivable, net | $219,434 |
| 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 | $80,019 |
| Net Land, buildings, and equipment | $265,171 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,744,762 |
| Total assets | $8,567,440 |
| Accounts payable and accrued expenses | $366,315 |
| Grants payable | $0 |
| Deferred revenue | $27,398 |
| 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 | $10,751,296 |
| Total liabilities | $11,145,009 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | -$2,836,976 |
| Retained earnings, endowment, accumulated income, or other funds | $259,407 |
| Total liabilities and net assets/fund balances | $8,567,440 |