Friends Of@spero Academy
- Assets
- $16.6m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 07/2017
- Data as of
- 06/2022
- EIN
- 81-5382949
Organization Overview
Friends Of@spero Academy is located in Minneapolis, MN. The organization was established in 2017. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of@spero Academy is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PURCHASE, OWN, CONSTRUCT OR LEASE A PUBLIC SCHOOLHOUSE ON REAL ESTATE FOR LEASE TO SPERO ACADEMY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION'S PURPOSE IS TO CONSTRUCT AND LEASE A FACILITY FOR SPERO ACADEMY, A MN PUBLIC CHARTER SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tony Farah Chair | OfficerTrustee | 1 | $0 |
Kirk Wahlstrom Secretary | OfficerTrustee | 1 | $0 |
Chandra Stone Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hdr Architecture Inc Architect | 6/29/19 | $230,712 |
Rochon Construction Contractor | 6/29/19 | $8,913,348 |
Jb Vang Partners Inc Project Management | 6/29/19 | $119,633 |
View All Vendors
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $1,434,564 |
| Investment income | $926 |
| 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 | $1,435,490 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $47,121 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,488 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,762,293 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $269,003 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,088,155 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,220,463 |
| Pledges and grants receivable | $0 |
| 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 | $1,488 |
| Net Land, buildings, and equipment | $13,422,044 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,643,995 |
| Accounts payable and accrued expenses | $1,254,813 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $17,295,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $580,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,125 |
| Total liabilities | $19,136,938 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $6,559,229 |
| Paid-in or capital surplus, or land, building, or equipment fund | -$9,052,172 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $16,643,995 |