Minnehaha Academy
- Assets
- $87.5m
- Revenue
- $27.6m
- Investments
- $0.0
- Employees
- 389
- Location
- Minneapolis, MN
- Founding
- 07/1973
- Data as of
- 06/2022
- EIN
- 41-0693870
Organization Overview
Minnehaha Academy is located in Minneapolis, MN. The organization was established in 1973. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2023, Minnehaha Academy employed 389 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnehaha 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, Minnehaha Academy generated $27.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $27.6m during the year ending 06/2022. While expenses have increased by 5.4% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A HIGH QUALITY EDUCATION TO STUDENTS IN PRE-SCHOOL TO GRADE 12 INTEGRATING CHRISTIAN FAITH AND LEARNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MINNEHAHA ACADEMY IS A PRE-SCHOOL THROUGH GRADE 12 SCHOOL SERVING STUDENTS THROUGHOUT THE MINNEAPOLIS AND ST. PAUL AREA. ENROLLMENT IN 2022 - 2023 WAS 876 STUDENTS. IN SUPPORT OF ITS COMMITMENT TO CULTURAL AND SOCIOECONOMIC DIVERSITY AS BEING AN ESSENTIAL PART OF ITS EDUCATION GOALS, THE SCHOOL GRANTED FINANCIAL AID TO STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marc Belton Chair | OfficerTrustee | 1 | $0 |
Sue Poston Vice Chair | OfficerTrustee | 1 | $0 |
Brooke Lee Secretary | OfficerTrustee | 1 | $0 |
Todd Laddusaw Treasurer | OfficerTrustee | 1 | $0 |
Tim Carlson Board Trustee | Trustee | 1 | $0 |
David Anderson Board Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Northstar Bus Lines Llc Student Transportation | 6/29/23 | $333,941 |
Monarch Bus Services Inc Student Transportation | 6/29/23 | $313,483 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,396,195 |
| Investment income | $594,661 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $170,129 |
| Net Gain/Loss on Asset Sales | -$161,262 |
| Net Income from Fundraising Events | $15,354 |
| Net Income from Gaming Activities | $23,748 |
| Net Income from Sales of Inventory | $2,844 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,566,696 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $6,332,460 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $459,266 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,710,089 |
| Pension plan accruals and contributions | $207,892 |
| Other employee benefits | $2,618,531 |
| Payroll taxes | $701,063 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $84,789 |
| Fees for services: Accounting | $119,522 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $52,788 |
| Fees for services: Other | $103,900 |
| Advertising and promotion | $86,686 |
| Office expenses | $106,047 |
| Information technology | $512,887 |
| Royalties | $0 |
| Occupancy | $976,510 |
| Travel | $6,056 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,077 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,610,428 |
| Insurance | $165,093 |
| All other expenses | $0 |
| Total functional expenses | $27,648,269 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $831,634 |
| Savings and temporary cash investments | $9,922,975 |
| Pledges and grants receivable | $1,252,964 |
| Accounts receivable, net | $1,699,442 |
| Loans from Officers, Directors, or Controlling Persons | $8,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $21,777 |
| Prepaid expenses and deferred charges | $177,254 |
| Investments—publicly traded securities | $13,622,727 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $87,515,002 |
| Accounts payable and accrued expenses | $1,466,164 |
| Grants payable | $0 |
| Deferred revenue | $915,366 |
| 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 | $2,551 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $39,058 |
| Total liabilities | $2,423,139 |
| Net assets without donor restrictions | $68,786,401 |
| Net assets with donor restrictions | $16,305,462 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $85,091,863 |