2024-04-16T09:10:17-05:00 2023-06-30 411397419 Abdo LLP 5201 Eden Ave Ste 250 Edina MN 55436 990 2022-07-01 753155906 LoveWorks Academy for Visual and Performance Arts LOVE 7635226830 2225 Zenith Ave N Golden Valley MN 55422 Raygen Gipson Board Chair 7635226830 2024-04-09 1 Raygen Gipson XXX-XX-XXXX 1 Steven D Anseth CPA P00552219 9528359090 2024-04-09 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z Raygen Gipson 2225 Zenith Ave N Golden Valley MN 55422 2729133 0 X www.lwa-arts.org X 2005 MN To inspire life-long learning, empower ALL students academically, and nurture the arts. 7 5 45 0 0 0 3413184 2590661 8061 13066 15 0 614661 125406 4035921 2729133 0 0 0 0 1636697 1613127 0 0 0 1334177 1344413 2970874 2957540 1065047 -228407 1672302 1336977 2681009 2574091 -1008707 -1237114 To inspire life-long learning, empower ALL students academically, and nuture the arts. 0 0 2436393 13066 Loveworks Academy provides K-8 education, emphasizing a nurturing environment with a multidisciplinary approach to academics. The liberal arts curricula and teaching methods are evaluated and continuously improved, high expectations are clearly defined and intellectual rigor is utilized to address the learning needs of all learners. 2436393 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 8 0 1 45 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 5 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MN X X Designs for Learning 6516450200 2233 University Ave W Suite 450 St Paul MN 55114 Arthur Turner Executive Director 40.00 X 104061 0 12351 Jeremy Harder Teacher/Community Member 40.00 X 59583 0 5078 Karissa Crofoot Teacher/Secretary 40.00 X X 19754 0 4332 Raygen Gipson Chair 2.00 X X 0 0 0 Joe Billings Vice Chair/Treasurer 2.00 X X 0 0 0 Richard Terrell Community Member 1.00 X 0 0 0 Kristof Chara Community Member 1.00 X 0 0 0 Sophie Myllykrangas Parent 2.00 X 0 0 0 183398 0 21761 1 0 0 0 4mativ Technologies 959 Sayton Ave St Paul MN 55104 Transportation 409100 Designs for Learning 2233 University Ave W Suite 450 St Paul MN 55114 Acctg, SPED, Technology 159701 2 2589161 1500 2590661 Other revenue 900099 12108 12108 Fees from patrons 900099 958 958 13066 Pension revenue 900099 125406 125406 125406 2729133 13066 0 125406 X 226822 179695 47127 1076495 852831 223664 136422 115063 21359 76512 49480 27032 96876 76734 20142 762308 639471 122837 103539 101156 2383 46485 15623 30862 22531 22531 5436 5436 15697 15697 5479 5479 Lease Expense 225148 225148 Food 130329 130329 Dues and Memberships 20668 20668 Miscellaneous Expense 5073 5073 1720 1720 2957540 2436393 521147 0 172929 174329 45526 526 224063 155991 22788 23489 1158327 718261 652156 440066 554840 542576 1672302 1336977 124262 214475 602763 411330 1953984 1948286 2681009 2574091 X -1058100 -1265850 49393 28736 -1008707 -1237114 1672302 1336977 -228407 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 785569 392785 392784 372758 325476 47282 440066 Deferred Outflows - PERA 542576 542576 Net pension liability 1634973 Deferred Inflow - PERA 213313 Other current liabilities 100000 1948286 X 2617033 0 2617033 112100 112100 2729133 2845440 -112100 -112100 2957540 0 2957540 Part X, Line 2: The Charter School is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. The Charter 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, 2023, there were no income tax related accrued interest or penalties recognized in either the statement of financial position or the statement of activities. The Charter 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. Part XI, Line 4b - Other Adjustments: Negative pension expense reclassified as revenue 112,100. Part XII, Line 2d - Other Adjustments: Negative pension expense reclassified as revenue -112,100. 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 policy is communicated in the handbook and enrollment brochure as well as broadcast media. Schedule E, Part I, Line 6 The Organization receives finacial aid and assistance from the Minnesota Department of Education and U.S. Department of Education. Form 990, Part VI, Section A, line 7a As per MN Statute 124E.07, staff members employed at the school, including teachers providing instruction under a contract, members of the Board of Directors, and all parents or legal guardians of children enrolled in the school are the voters eligible to elect the members of the School's Board of Directors. Form 990, Part VI, Section B, line 11b The Form 990 was prepared by an independent accounting firm. The Board of Directors/School Management will review the Form 990 prior to filing with the IRS within 72 hours after receipt. Copies will be made and presented via email or in-person to all members of the Board and Management. Any changes to be made or addressed in the fiscal responsibilities of the school will be proposed at the next board meeting. Form 990, Part VI, Section B, line 12c The school's conflict of interest policy covers directors, officers, and employees with the power to influence actions undertaken. All covered individuals are required to submit an annual disclosure form. On-going disclosures of potential conflicts shall be reported to the CEO or the Board Chair, who will bring the matter to the attention of the board or a duly constituted committee thereof to determine if a conflict exists. Transaction with conflicts of interest may be undertaken if the conflict is fully disclosed, the conflicted individual is excluded from the discussion and approval of the transaction, a competitive bid or comparable valuation exists, and the board/committee has determined that the transaction is in the best interest of the school. All proceedings related to conflicts of interest will be documented in the meeting minutes. Form 990, Part VI, Section B, line 15a The school determines the school officers' compensation annually, based on market research. The board of directors reviews and approves management compensation, including increase proposals. Comparability data and surveys of other organizations have been used in the past. Another option the board would use isa review of form 990's from other similar sized organizations. The process and decisions are conducted and substantiated with meeting minutes, written employment contracts, and written policy. Form 990, Part VI, Section C, line 19 The Organization makes its governing documents, conflict of interest policy, and financial statements available upon request. The form 990 is also available on GuideStar. Form 990, Part IX, line 11g Consulting Fees: Program service expenses 133,853. Management and general expenses 110,287. Fundraising expenses 0. Total expenses 244,140. Technology Services: Program service expenses 0. Management and general expenses 12,550. Fundraising expenses 0. Total expenses 12,550. Transportation Services: Program service expenses 396,119. Management and general expenses 0. Fundraising expenses 0. Total expenses 396,119. Repair and Maintenance Services: Program service expenses 109,499. Management and general expenses 0. Fundraising expenses 0. Total expenses 109,499. Form 990, Part XII, Line 2c: This process has not changed from prior years.