Cologne Academy
- Assets
- $7.6m
- Revenue
- $9.8m
- Investments
- $0.0
- Employees
- 141
- Location
- Cologne, MN
- Founding
- 04/2009
- Data as of
- 06/2021
- EIN
- 38-3767089
Organization Overview
Cologne Academy is located in Cologne, MN. The organization was established in 2009. 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, Cologne Academy employed 141 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cologne 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, Cologne Academy generated $9.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $8.7m during the year ending 06/2021. While expenses have increased by 4.4% 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
WHERE RICH CHARACTER DEVELOPMENT AND EFFECTIVE LEARNING ALLOW STUDENTS TO ACHIEVE ACADEMICALLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLOGNE ACADEMY PROVIDES STUDENTS IN COLOGNE AND SURROUNDING RURAL AREAS WITH A CONTENT-RICH EDUCATION BASED ON A STRONG FOUNDATION OF KNOWLEDGE THROUGH THE USE OF THE CORE KNOWLEDGE SEQUENCE AND CLASSICAL CURRICULUM. WE ARE COMMITTED TO PROVIDING A COMMUNITY SCHOOL WITH SMALL CLASS SIZES WHERE STUDENTS, PARENTS AND TEACHERS WORK TOGETHER TO ACHIEVE ACCELERATED ACADEMIC ACHIEVEMENT AND STRONG CHARACTER DEVELOPMENT. COLOGNE BEGAN WITH GRADES K-5 IN THE 2008-2009 ACADEMIC YEAR, ADDED 6TH GRADE IN 2009-2010, 7TH GRADE IN 2010-2011, AND ADDED THE FINAL GRADE, 8TH GRADE, IN 2011-2012. THE AVERAGE NUMBER OF STUDENTS FOR THE 2020-2021 SCHOOL YEAR WAS 657.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynn Gluck Peterson Ex-Officio/exec Director | Officer | 45 | $135,206 |
Laura Oman Board Member/teacher | Trustee | 42 | $57,241 |
Traci Laferriere Ex-Officio/cfo | Officer | 30 | $56,541 |
Amanda Daniel Chair | OfficerTrustee | 5 | $0 |
Paul Modeen Treasurer | OfficerTrustee | 5 | $0 |
Jenna Mciinnis Vice Chair | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Benjamin Bus Inc Bus Service | 6/29/21 | $878,886 |
Quality First Janitorial & Maintenance I Janitorial Service | 6/29/21 | $115,011 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $13,581 |
| Government grants | $9,477,395 |
| All other contributions, gifts, grants, and similar amounts not included above | $80,970 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,571,946 |
| Total Program Service Revenue | $242,857 |
| Investment income | $27,298 |
| 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 | $1,590 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,847,133 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $28,798 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $270,554 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $151,135 |
| Other salaries and wages | $4,207,604 |
| Pension plan accruals and contributions | $328,987 |
| Other employee benefits | $316,148 |
| Payroll taxes | $325,538 |
| 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 | $539,898 |
| Advertising and promotion | $0 |
| Office expenses | $469,793 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,014,770 |
| Travel | $787,894 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,256 |
| Interest | $11,591 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,611 |
| Insurance | $17,623 |
| All other expenses | $3,004 |
| Total functional expenses | $8,699,531 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,969,938 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $921,928 |
| 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 | $49,311 |
| Net Land, buildings, and equipment | $131,383 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,568,241 |
| Total assets | $7,640,801 |
| Accounts payable and accrued expenses | $814,063 |
| Grants payable | $0 |
| Deferred revenue | $2,156 |
| 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 | $8,658,621 |
| Total liabilities | $9,474,840 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | -$1,965,423 |
| Paid-in or capital surplus, or land, building, or equipment fund | $131,384 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,640,801 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Cologne Academy has recieved totaling $71,573.
| Awarding Organization | Amount |
|---|---|
Mightycause Charitable Foundation Marianna, FL PURPOSE: UNRESTRICTED | $28,798 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $27,500 |
Friends Of Education Minnetonka, MN PURPOSE: GENERAL SUPPORT | $15,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $275 |
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 |