2024-10-24T10:43:56-05:00 2024-06-30 411397419 Abdo LLP 5201 Eden Ave Ste 250 Edina MN 55436 990 2023-07-01 411946091 Nerstrand Elementary School NERS 5073336850 PO Box 156 205 S Second Street Nerstrand MN 55053 Nicole Musolf Executive Director 5073336850 2024-10-22 1 0 Steven D Anseth CPA P00552219 9528359090 2024-10-09 2023 2024-10-15 13:58:12Z Nicole Musolf PO Box 156 205 S Second Street Nerstrand MN 55053 1839326 0 X www.nerstrand.charter.k12.mn.us X 1999 MN Public school serving students in grades K-5. 7 3 0 30 0 0 1472798 1475394 15590 18689 22349 29783 175689 308305 1686426 1832171 0 0 0 0 32152 51000 0 0 0 1547068 1489286 1579220 1540286 107206 291885 948082 910642 1131764 802439 -183682 108203 To empower students to be self-directed, lifelong learners by providing a nurturing, multi-age environment which fosters cooperation and character development. 0 0 1317881 18689 Served K-5 students by providing an outstanding education including some environmental learning. 1317881 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 11 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 3 0 0 0 0 1 1 0 1 0 0 0 1 1 1 1 1 1 1 0 0 MN X The Organization 5073336850 PO Box 156 205 S Second Street Nerstrand MN 55053 Traci LaFerriere Business Manager 1.00 X 53036 0 0 Nicole Musolf Executive Director 1.00 X 0 0 0 Carissa Erickson Parent Rep/Chair 1.00 X X 0 0 0 Tara Vondrasek Teacher Rep / Clerk 1.00 X X 0 0 0 Phil McBride Teacher Rep/ Treasurer 1.00 X X 0 0 0 Carmen Bonde Teacher Rep 1.00 X 0 0 0 Ali Bossmann Parent Rep 1.00 X 0 0 0 Terri Neumann Community Rep 1.00 X 0 0 0 Kelly McGregor Teacher Rep 1.00 X 0 0 0 53036 0 0 0 0 0 0 Edvisions Cooperative PO BOX 183 111 South Meridian Stre Belle Plaine MN 56011 Educational professionals 968385 1 21701 1413192 40501 1475394 Fees from Patrons 900099 15235 15235 Medical Assistance 900099 3454 3454 18689 29783 29783 0 21701 7155 -7155 -7155 Pension Revenue 900099 315460 315460 315460 1832171 18689 0 338088 X 51000 51000 1912 1912 69935 69935 1108203 990696 117507 2121 2121 3774 3774 14176 8681 5495 45896 45896 5445 5445 1701 1701 58 58 11430 11430 Leases/Rentals 167479 167479 Supplies 30381 30096 285 Fees to Authorizer 13028 13028 Dues/Memberships 8348 8348 5399 5399 1540286 1317881 222405 0 688033 619444 49363 107019 895 10033 121266 121266 58 0 209733 174146 948082 910642 168069 189789 2 963695 612648 1131764 802439 X -190787 74778 7105 33425 -183682 108203 948082 910642 291885 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 121266 121266 0 0 Deferred Pension Outflows 174146 174146 Pension Liability Payable 602704 Deferred Pension Inflows 9944 612648 X 1522615 0 1522615 309556 309556 1832171 1230730 -309556 -309556 1540286 0 1540286 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, 2024, 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: Move negative pension expense to pension revenue 309,556. Part XII, Line 2d - Other Adjustments: Move negative pension expense to pension revenue -309,556. 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 nondiscriminatory policy is contained in the School's registration materials. Schedule E, Part I, Line 6 The School receives Federal and State funding. Nestrand Night Out 12701 12701 1183 Kwik Trip Carwash 9000 9000 5972 21701 21701 7155 7155 -7155 Form 990, Part VI, Section A, line 6 In accordance with MN Statute 124E.07 sub. 5, staff members employed at the school, including teachers providing instruction under a contract with a cooperative, 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 A, line 7a If a vacancy occurs, every attempt will be made to select a replacement within one month's time according to the board's by-laws. Form 990, Part VI, Section A, line 8b The School does not have any committees that have the authority to act on behalf of governing body. Form 990, Part VI, Section B, line 11b The Form 990 was prepared by an independent accounting firm. The completed return was presented and reviewed at the first regular board meeting by the full governing body following receipt from the accounting firm. The final approved copy was subsequently filed with the IRS. Form 990, Part VI, Section B, line 12c All officers, diretors, and key employees are required to complete an annual conflict of interest questionnaire. Conflicts are reviewed at the board or committee level. Individuals are not allowed to vote on transactions where a conflict is determined to exist. All conflicts and proceedings are documented in meeting minutes. Form 990, Part VI, Section B, line 15a The School Director's compensation is determined by annual review by Board evaluation and resulting increase of average annual teacher step increase. The School followed the Board approved rate schedule plus any schoolwide % increase. Form 990, Part VI, Section C, line 19 The School makes its governing documents, conflict of interest policy, and financial statement available to the public upon request. Form 990, Part IX, line 11g Consulting Fees: Program service expenses 108,611. Management and general expenses 117,507. Fundraising expenses 0. Total expenses 226,118. Contracted fees: Program service expenses 882,085. Management and general expenses 0. Fundraising expenses 0. Total expenses 882,085. Form 990, Part XII, Line 1: The School follows a modified accrual method of accounting as prescribed by the Minnesota Department of Education. The school-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Grants and similar items are recognized when all eligibility requirements imposed by the provider have been met. Form 990, Part XII, Line 2c: The School has not changed its oversite process for its financial statement audit from the prior years.