North Lakes Academy
- Assets
- $3.9m
- Revenue
- $8.4m
- Investments
- $0.0
- Employees
- 136
- Location
- Forest Lake, MN
- Founding
- 02/2000
- Data as of
- 06/2023
- EIN
- 41-1941981
Organization Overview
North Lakes Academy is located in Forest Lake, MN. The organization was established in 2000. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2023, North Lakes Academy employed 136 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Lakes 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 06/2023, North Lakes Academy generated $8.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $8.5m during the year ending 06/2023. While expenses have increased by 9.1% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PUBLIC CHARTER SCHOOL - K-12 EDUCATIONAL SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
NORTH LAKES ACADEMY CHARTER SCHOOL: WE ARE A PUBLIC CHARTER SCHOOL OFFERING A RIGOROUS LIBERAL ARTS EDUCATION TO STUDENTS IN GRADES K THROUGH 12 ON TWO CAMPUSES. DURING THE 22-23 YEAR, WE SERVED 594 STUDENTS. WE ESTIMATE AROUND 550 STUDENTS FOR THE 23-24 YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Poncelet Chair/educator | OfficerTrustee | 40 | $56,027 |
Jeffrey Rapp Secretary/educator | OfficerTrustee | 40 | $65,262 |
Anna Hansmann Treasurer | OfficerTrustee | 3 | $0 |
Laura Delvillar Director/educator | Trustee | 40 | $62,220 |
Jennifer Dwelly Director (termed 8/22) | Trustee | 1 | $0 |
Emma Fischer Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Collaborate Student Transportation Transportation | 6/29/23 | $231,670 |
Advance Speech Therapy Speech Contrated Thearapist | 6/29/23 | $118,550 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,141,195 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,418 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,143,613 |
| Total Program Service Revenue | $224,024 |
| Investment income | $492 |
| 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 | -$220 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,444,266 |
| 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. | $486,474 |
| Compensation of current officers, directors, key employees. | $136,220 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,369,657 |
| Pension plan accruals and contributions | $280,949 |
| Other employee benefits | $500,558 |
| Payroll taxes | $302,821 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,348 |
| Fees for services: Accounting | $71,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $268,197 |
| Advertising and promotion | $0 |
| Office expenses | $164,308 |
| Information technology | $66,257 |
| Royalties | $0 |
| Occupancy | $166,440 |
| Travel | $387,377 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,640 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $63,876 |
| Insurance | $74,501 |
| All other expenses | $183,578 |
| Total functional expenses | $8,542,847 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $421,328 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,019,291 |
| 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 | $3,269 |
| Net Land, buildings, and equipment | $228,329 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,216,113 |
| Total assets | $3,888,330 |
| Accounts payable and accrued expenses | $886,955 |
| Grants payable | $0 |
| Deferred revenue | $14,638 |
| 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 | $250,000 |
| Unsecured mortgages and notes payable | $15,640 |
| Other liabilities | $5,831,615 |
| Total liabilities | $6,998,848 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | -$3,356,058 |
| Paid-in or capital surplus, or land, building, or equipment fund | $212,689 |
| Retained earnings, endowment, accumulated income, or other funds | $32,851 |
| Total liabilities and net assets/fund balances | $3,888,330 |