New Millennium Academy
- Assets
- $9.5m
- Revenue
- $13.7m
- Investments
- $0.0
- Employees
- 133
- Location
- Brooklyn Center, MN
- Founding
- 04/2005
- Data as of
- 06/2021
- EIN
- 42-1625836
Organization Overview
New Millennium Academy is located in Brooklyn Center, MN. The organization was established in 2005. 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 06/2021, New Millennium Academy employed 133 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Millennium 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, New Millennium Academy generated $13.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $11.9m during the year ending 06/2021. While expenses have increased by 6.9% 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
DEVELOPING GLOBAL LEADERS WHO TRANSFORM THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NMA PROVIDED PUBLIC SCHOOL ACADEMIC SERVICES TO AN AVERAGE OF 782 STUDENTS IN GRADES K-8 DURING THE 2020-2021 SCHOOL YEAR. SIXTY-FIVE PERCENT OF THESE STUDENTS CAME FROM LOW INCOME FAMILIES (QUALIFIED FOR FREE/REDUCED LUNCH). IN ADDITION, MANY QUALIFIED FOR EL SERVICES. THESE FACTORS GENERATE EXTRA FUNDING FROM THE STATE BUT ALSO GENERATE VARIOUS CHALLENGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Steen Principal | 44 | $129,635 | |
Kevin Xiong Executive Director | Officer | 44 | $62,302 |
Heidi Pendroy Former Member | 44 | $60,052 | |
Bridget Mealman Secretary | OfficerTrustee | 44 | $48,568 |
Janie Yang Member | Trustee | 44 | $48,137 |
Kinley Vang Vice Chair | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Thrive Education Management Services | 6/29/21 | $338,873 |
Ots Services Transportation | 6/29/21 | $444,005 |
Caravan Kids Catering Food Service | 6/29/21 | $791,554 |
Bergankdv Outsourced Services Accounting Services | 6/29/21 | $119,586 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $13,549,705 |
| All other contributions, gifts, grants, and similar amounts not included above | $159,473 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,709,178 |
| Total Program Service Revenue | $11,858 |
| Investment income | $8,464 |
| 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 | $174 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,749,517 |
| 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. | $285,168 |
| Compensation of current officers, directors, key employees. | $156,972 |
| Compensation to disqualified persons | $69,126 |
| Other salaries and wages | $5,077,187 |
| Pension plan accruals and contributions | $389,888 |
| Other employee benefits | $607,286 |
| Payroll taxes | $445,588 |
| Fees for services: Management | $50,000 |
| Fees for services: Legal | $24,010 |
| Fees for services: Accounting | $121,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $660,042 |
| Advertising and promotion | $0 |
| Office expenses | $324,923 |
| Information technology | $390,505 |
| Royalties | $0 |
| Occupancy | $1,360,337 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $54,114 |
| Interest | $13,612 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $120,527 |
| Insurance | $88,252 |
| All other expenses | $64,808 |
| Total functional expenses | $11,853,980 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,172 |
| Savings and temporary cash investments | $3,369,617 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,955,925 |
| 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 | $120,370 |
| Net Land, buildings, and equipment | $1,187,638 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,786,640 |
| Total assets | $9,494,362 |
| Accounts payable and accrued expenses | $577,365 |
| Grants payable | $0 |
| Deferred revenue | $10,000 |
| 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 | $176,700 |
| Other liabilities | $8,347,097 |
| Total liabilities | $9,111,162 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | -$804,438 |
| Paid-in or capital surplus, or land, building, or equipment fund | $1,187,638 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,494,362 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that New Millennium Academy has recieved totaling $144,000.
| Awarding Organization | Amount |
|---|---|
Great Mn Schools Minneapolis, MN PURPOSE: FISCAL YEAR 2021 INVESTMENT | $74,000 |
Capi Usa Brooklyn Center, MN PURPOSE: COMMUNITY SERVICES | $70,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Breck School Minneapolis, MN | $145,805,473 | $46,151,265 |
St Lukes-Jones Regional Medical Center Anamosa, IA | $65,819,310 | $47,904,266 |
University School Of Milwaukee Corporation Milwaukee, WI | $59,516,474 | $37,531,617 |
St Paul Academy And Summit School Saint Paul, MN | $155,552,723 | $37,579,320 |
Shattuck-St Marys Schools Faribault, MN | $98,168,921 | $33,078,824 |
Hiawatha Academies Minneapolis, MN | $17,479,202 | $30,126,706 |
Minnehaha Academy Minneapolis, MN | $87,515,002 | $27,566,696 |
Little Wound School Board Inc Kyle, SD | $30,101,573 | $34,256,769 |
Duluth Public Schools Academy Duluth, MN | $11,300,582 | $19,293,947 |
Providence Academy Plymouth, MN | $90,830,285 | $18,450,860 |
Milwaukee Science Education Consortium Inc Milwaukee, WI | $22,408,763 | $18,701,164 |
Prairie School Inc Racine, WI | $75,801,246 | $20,722,980 |