Step Academy
- Assets
- $9.0m
- Revenue
- $10.0m
- Investments
- $0.0
- Employees
- 98
- Location
- St Paul, MN
- Founding
- 04/2013
- Data as of
- 06/2022
- EIN
- 30-0562083
Organization Overview
Step Academy is located in St Paul, MN. The organization was established in 2013. 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, Step Academy employed 98 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Step 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, Step Academy generated $10.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.8% each year . All expenses for the organization totaled $9.9m during the year ending 06/2022. While expenses have increased by 17.1% 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
PUBLIC CHARTER SCHOOL THAT SERVES GRADES K-12.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STEP IS A K-12 CHARTER SCHOOL LOCATED IN ST PAUL, MINNESOTA, THAT PROMOTES EARLY COLLEGE EDUCATION THROUGH ENSURING THAT ALL STUDENTS ACHIEVE ACADEMIC EXCELLENCE, OBTAIN COLLEGE CREDIT WHILE IN HIGH SCHOOL, ARE FULLY MOTIVATED AND PREPARED TO SUCCESSFULLY MATRICULATE IN COLLEGE, AND GRADUATE WITH THE CRITICAL KNOWLEDGE AND SKILLS REQUIRED FOR EMPLOYMENT IN SCIENTIFIC, TECHNICAL, AND OTHER SKILLED CAREERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mustafa Ibrahim Executive Director | Officer | 41 | $114,837 |
Rahima Ahmed Member/teacher | Trustee | 41 | $55,311 |
Amina Mohamud Vice Chair | OfficerTrustee | 5 | $0 |
Abdulrazzaq Mursal Board Chair | OfficerTrustee | 5 | $0 |
Abdiladif Sanbul Board Secretary | OfficerTrustee | 5 | $0 |
Mohamed Shurye Member | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bille Bus Transportation Inc Transportation | 6/29/22 | $1,549,755 |
Blue Bell Enterprises Inc Food Service | 6/29/22 | $307,584 |
Designs For Learning Tech/program Support | 6/29/22 | $150,610 |
Mn Cln Services Cleaning & Maintenance | 6/29/22 | $108,866 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,962,643 |
| 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 | $9,962,643 |
| Total Program Service Revenue | $25,751 |
| Investment income | $823 |
| 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 | $9,992,198 |
| 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. | $181,898 |
| Compensation of current officers, directors, key employees. | $18,190 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,942,582 |
| Pension plan accruals and contributions | $738,271 |
| Other employee benefits | $447,742 |
| Payroll taxes | $324,083 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $508,453 |
| Advertising and promotion | $0 |
| Office expenses | $535,945 |
| Information technology | $216,403 |
| Royalties | $0 |
| Occupancy | $102,777 |
| Travel | $1,613,316 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $28,477 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $712,627 |
| Insurance | $22,611 |
| All other expenses | $0 |
| Total functional expenses | $9,907,461 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,267,175 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,202,470 |
| 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 | $116,054 |
| Net Land, buildings, and equipment | $2,968,115 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,432,816 |
| Total assets | $8,986,630 |
| Accounts payable and accrued expenses | $753,240 |
| 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 | $8,090,272 |
| Total liabilities | $8,843,512 |
| Net assets without donor restrictions | $56,478 |
| Net assets with donor restrictions | $86,640 |
| 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 | $8,986,630 |
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 |