2024-05-15T00:56:27-05:00 2023-06-30 471019942 CREATIVE PLANNING TAX LLC 12100 MEREDITH DR SUITE 200 URBANDALE IA 50323 990 2022-07-01 300417217 GLOBAL ACADEMY GLOB 7634048200 3000 5TH STREET NW NEW BRIGHTON MN 55112 MELISSA STORBAKKEN EXECUTIVE DIRECTOR 7634048200 2024-05-13 1 MELISSA STORBAKKEN 999009999 1 BRIAN ARONSON CPA P01425251 5157275700 2024-05-13 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z MELISSA STORBAKKEN 3000 5TH STREET NW NEW BRIGHTON MN 55112 8460939 0 X WWW.GLOBALACADEMY.US X 2006 MN TO PREPARE STUDENTS FOR SUCCESS AND LEADERSHIP IN CHALLENGING HIGH SCHOOL PROGRAMS. 8 2 81 25 0 0 9345516 8454605 19937 2848 102832 0 6516 1276 9474801 8458729 0 0 0 0 5287862 5043671 0 0 0 3546423 3521604 8834285 8565275 640516 -106546 4734311 4494594 7341375 6379924 -2607064 -1885330 X GLOBAL ACADEMY IS A FREE, CHARTERED PUBLIC ELEMENTARY AND MIDDLE SCHOOL THAT SEEKS TO SERVE A DIVERSE GROUP OF STUDENTS. GLOBAL ACADEMY IS COMMITTED TO SERVICE IN THE BROADER WORLD BASED ON THE GOALS OF THE INTERNATIONAL BACCALAUREATE ORGANIZATION. EMPOWERED BY ACADEMIC RIGOR, GRADUATES OF GLOBAL ACADEMY WILL BE FULLY PREPARED FOR SUCCESS AND LEADERSHIP IN CHALLENGING HIGH SCHOOL PROGRAMS. 0 0 7593875 4309 GLOBAL ACADEMY IS A NONPROFIT CORPORATION THAT WAS FORMED AND BEGAN OPERATING IN OCTOBER 2007, IN ACCORDANCE WITH MINNESOTA STATUTES. THE SCHOOL IS AUTHORIZED BY THE UNIVERSITY OF ST. THOMAS. DURING FISCAL YEAR 2022-2023, THE SCHOOL HAD APPROXIMATELY 400 STUDENTS ENROLLED. 7593875 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 1 1 1 0 0 1 30 0 1 81 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 2 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MN X X CREATIVE PLANNING 8662732848 3800 AMERICAN BLVD W 1000 BLOOMINGTON MN 55431 X DANNIKA WRIGHT SECRETARY/TEACHER 41.00 X X 71960 0 14285 KATE LARSON BOARD MEMBER/TEACHER 41.00 X 73597 0 14957 EMILY FISHER BOARD CHAIR/TEACHER 41.00 X X 67043 0 31862 SUSAN ELTAWELY TREASURER/TEACHER 41.00 X X 76109 0 30014 STEPHANIE KLAUER BOARD MEMBER/TEACHER 41.00 X 66336 0 15245 KIM FIELDS BOARD MEMBER/TEACHER 41.00 X 77052 0 17651 HAFSA ABUBAKAR BOARD MEMBER 1.00 X 0 0 0 SAWSAN NATSHEH BOARD MEMBER 1.00 X 0 0 0 HELEN FISK EXECUTIVE DIRECTOR 41.00 X 167272 0 35280 MELISSA STORBAKKEN ASSISTANT DIRECTOR 41.00 X 141561 0 22546 740930 0 181840 2 0 1 0 0 8290337 164268 8454605 FEES FROM PATRONS 611600 1639 1639 MEDICAL ASSISTANCE 611600 1209 1209 2848 2025 2210 -185 -185 MISCELLANEOUS REVENUE 611600 1461 1461 1461 8458729 4309 0 -185 X 726461 516074 210387 3253387 2986258 267129 267964 245842 22122 513341 466165 47176 282518 250601 31917 3000 3000 123200 16500 106700 1240828 1197618 43210 146249 109172 37077 379845 238275 141570 960545 960545 35838 30924 4914 12969 12969 219021 209148 9873 19168 19168 INSTRUCTIONAL SUPPLIES 219675 219675 RENTALS & MAINTENANCE 103500 103500 DUES & MEMBERSHIPS 46616 291 46325 FIELD TRIPS 18980 18980 -7830 -7830 8565275 7593875 971400 0 X 1332924 1112718 934259 869026 31872 59126 1098567 402489 764807 696078 1670449 1757646 4734311 4494594 606130 469995 2981 0 428520 0 6303744 5909929 7341375 6379924 X -2943351 -2581408 336287 696078 0 0 -2607064 -1885330 4734311 4494594 X -106546 149952 678328 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 380591 368299 12292 691826 34190 657636 26150 26150 696078 DEFERRED OUTFLOWS OF PENSION RESOURCES 1495351 DUE FROM GLOBAL ACADEMY ABC 262295 1757646 NET PENSION LIABILITY 4920536 DEFERRED INFLOWS OF PENSION RESOURCES 989393 5909929 X PART X, LINE 2: THE SCHOOL IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE SCHOOL ALSO QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER APPLICABLE STATUTES OF THE STATE OF MINNESOTA. MANAGEMENT BELIEVES THAT IT IS NOT REASONABLY POSSIBLE FOR ANY TAX POSITION BENEFITS TO INCREASE OR DECREASE SIGNIFICANTLY OVER THE NEXT 12 MONTHS. AS OF JUNE 30, 2022, THERE WERE NO INCOME TAX ACCRUED INTEREST OR PENALTIES RECOGNIZED IN EITHER THE STATEMENT OF FINANCIAL POSITION OR THE STATEMENT OF ACTIVITIES. THE SCHOOL FILES INFORMATIONAL RETURNS IN THE U.S. FEDERAL JURISDICTION, AND IN THE MINNESOTA STATE JURISDICTION. U.S. FEDERAL RETURNS AND MINNESOTA RETURNS FOR THE PRIOR THREE FISCAL YEARS ARE CLOSED. NO RETURNS ARE CURRENTLY UNDER EXAMINATION IN ANY TAX JURISDICTION. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL'S NONDISCRIMINATORY POLICIES ARE AVAILABLE ON THE SCHOOL'S WEBSITE. SCHEDULE E, PART I, LINE 6 AS A MN PUBLIC CHARTER SCHOOL, THE ACADEMY RECEIVES STATE EDUCATION AID AND FEDERAL GRANT FUNDING. X X X 0 0 0 0 0 0 0 0 0 HELEN FISK EXECUTIVE DIRECTOR 167272 0 0 0 0 0 22086 0 13194 0 202552 0 0 0 MELISSA STORBAKKEN ASSISTANT DIRECTOR 141561 0 0 0 0 0 14974 0 7572 0 164107 0 0 0 JACQUELINE FISK NIECE TO EXECUTIVE DIRECTOR HELEN FISK 23902 PAYROLL 0 FORM 990, SCHEDULE L, PART IV ALL TRANSACTIONS FOR RELATED PARTY PAYROLL ARE COMPENSATED AT FMV. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS TWO VOTING CLASSES OF MEMBERSHIP DESIGNATED AS "ENROLLEE MEMBERS AND "EMPLOYEE MEMBERS". ENROLLMENT OF A CHILD IN THE ORGANIZATION SHALL QUALIFY THE PARENT(S) OR LEGAL GUARDIAN(S) OF SUCH CHILD FOR MEMBERSHIP DURING THE CHILD'S ENROLLMENT. PAID EMPLOYEE BY THE ORGANIZATION SHALL QUALIFY THE EMPLOYEE FOR MEMBERSHIP DURING THE TERM OF THEIR EMPLOYMENT. FORM 990, PART VI, SECTION A, LINE 7A ALL MEMBERS IN GOOD STANDING ARE ELIGIBLE TO VOTE FOR THE BOARD MEMBERS AT THE ANNUAL MEETING IN PERSON OR BY PROXY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE SCHOOL ACCOUNTANT AND DISSEMINATED TO THE FULL BOARD AFTER IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL, OFFICER, AND COMMITTEE MEMBERS WITH GOVERNING BOARD DELEGATED POWERS IS REQUIRED TO COMPLETE AN ANNUAL STATEMENT THAT CONFIRMS THAT THE INDIVIDUAL HAS RECEIVED, UNDERSTOOD, AND AGREED TO COMPLY WITH THE CONFLICT OF INTEREST POLICY. THIS INCLUDES A DUTY TO DISCLOSE ANY ACTUAL OR POTENTIAL CONFLICTS ON THE PROPOSED TRANSACTIONS. AFTER DISCLOSURE AND ADMISSION OF ANY MATERIAL FACTS, THE CONFLICTED INDIVIDUAL IS REQUIRED TO LEAVE THE MEETING WHILE THE DETERMINATION OF A CONFLICT IS DISCUSSED AND VOTED UPON BY THE BOARD OR COMMITTEE INVOLVED. THE BOARD OR COMMITTEE CHAIR WILL CONDUCT DUE DILIGENCE TO DETERMINE IF A SIMILAR TRANSACTION CAN BE ARRANGED THAT WOULD NOT LEAD TO A CONFLICT OF INTEREST. THE PROCEEDINGS ARE DOCUMENTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD USED COMPARATIVE DATA TO DETERMINE THE SCHOOL DIRECTOR'S COMPENSATION AND DOCUMENTED THE DELIBERATION AND DECISION IN THE BOARD MEETING MINUTES. THE PROCESS IS PERFORMED EVERY YEAR. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES ALL OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART VII, SECTION A: RELATED BOARD MEMBERS PER MN STATUTE 124E.07, CHARTER SCHOOLS ARE REQUIRED TO HAVE A LICENSED TEACHER AS A MEMBER OF THE BOARD OF DIRECTORS. EMILY FISHER, DANNIKA WRIGHT, KATE LARSON, KIM FIELDS, SUSAN ELTAWELY, AND STEPHANIE KLAUER ARE BOARD MEMBERS, BUT RECEIVED COMPENSATION FOR THEIR SERVICES AS TEACHERS. FORM 990, PART IX, LINE 11G MISCELLANEOUS CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 248,258. MANAGEMENT AND GENERAL EXPENSES 43,210. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 291,468. STUDENT TRANSPORTATION: PROGRAM SERVICE EXPENSES 599,650. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 599,650. FOOD SERVICE: PROGRAM SERVICE EXPENSES 349,710. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 349,710. FORM 990, PART X, LINE 25: PENSION LIABILITIES, DEFERRED OUTFLOWS & INFLOWS PENSION: AS A CHARTER SCHOOL IN THE STATE OF MINNESOTA, PARTICIPATION IN TWO MULTIPLE-EMPLOYER, COST-SHARING DEFINED BENEFIT PENSION PLANS IS STATUTORILY REQUIRED. THE SCHOOL'S CONTRIBUTIONS TO THE PLANS ARE ALSO REGULATED BY STATUTE AND ARE BASED ON A PERCENTAGE OF SALARIES AND WAGES EARNED BY CURRENT EMPLOYEES. THEREFORE, WHILE THE NET PENSION LIABILITY, DEFERRED OUTFLOWS AND INFLOWS, ARE REPORTED ON THE SCHOOL'S STATEMENT OF NET POSITION, THE SCHOOL IS NOT IN A POSITION TO DIRECTLY CONTROL THE LIABILITIES OR THE SUBSEQUENT LIQUIDATION OF THE LIABILITIES. FORM 990, PART XI, LINE 9: GASB 68 - PENSION ADJUSTMENT 678,328. GLOBAL ACADEMY ABC 3000 5TH ST NW NEW BRIGHTON MN 55112 821729488 HOLD AND LEASE SCHOOL FACILITY MN 501(C)(3) LINE 12A, I GLOBAL ACADEMY 1 0 0 0 1 1 0 0 0 0 0 1 0 0 1 1 0 1 0 0 GLOBAL ACADEMY ABC E 262295 CASH BALANCE GLOBAL ACADEMY ABC K 786066 LEASE AGREEMENT