2020-02-11T17:09:13-06:00 2019-06-30 411431613 BERGANKDV LTD 3800 AMERICAN BLVD WEST SUITE 1000 MINNEAPOLIS MN 554314420 990 2018-07-01 260035570 NOVA CLASSICAL ACADEMY NOVA 6512096320 1455 VICTORIA WAY ST PAUL MN 55102 DR BRETT WEDLUND EXECUTIVE DIRECTOR 6512096320 2020-01-22 1 THERESA GOETTE P01062926 9525636800 2020-01-22 24.159.218.114 2020-01-22 11:10:57 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 6043821AFCD7ED77A98774CF22E6A57363197761 2018 2020-09-23 17:36:50Z ADITYA BHARADWAJ 1455 VICTORIA WAY ST PAUL MN 55102 11327072 0 X WWW.NOVACLASSICAL.ORG X 2001 MN OFFERING A RIGOROUS, THOROUGH, SYSTEMATIC, AND CHALLENGING CLASSICAL EDUCATION TO K-12 STUDENTS. 11 8 172 625 0 0 10091130 10619115 668577 645776 2668 17352 30342 29965 10792717 11312208 0 0 0 0 8823890 7118002 0 0 0 4173079 4408282 12996969 11526284 -2204252 -214076 12565509 9777404 17909555 13641150 -5344046 -3863746 X IN A SUPPORTIVE COMMUNITY AND THROUGH A SYSTEMATIC, ACCELERATED COLLEGE-PREPARATORY EDUCATION IN THE CLASSICAL TRADITION, NOVA CLASSICAL ACADEMY CHALLENGES ITS STUDENTS TO DEVELOP INTELLECT, TO ATTAIN THE HABITS OF LEARNING AND MASTERY, AND TO LIVE A VIRTUOUS LIFE OF DUTY AND IDEALS. 0 0 10084338 648093 TO PROVIDE CLASSICAL LEARNING OPPORTUNITIES AND OTHER EDUCATIONAL SERVICES FOR STUDENTS OF THE TWIN CITIES AREA. 10084338 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 1 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 1 1 1 0 0 1 45 0 1 172 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 8 0 0 0 0 0 1 1 1 0 0 0 0 1 1 1 0 1 1 0 0 MN X BERGANKDV 6514632233 22488 CHIPPENDALE AVE FARMINGTON MN 55024 X ADITYA BHARADWAJ BOARD CHAIR 5.00 X X 0 0 0 JENNI WINTER BOARD TREASURER 5.00 X X 0 0 0 BECKY LUND BOARD SECRETARY/TEACHER 50.00 X X 86135 0 13280 JASON BELTER DIRECTOR/TEACHER 50.00 X 72998 0 5663 JOAN COSTELLO DIRECTOR 2.00 X 0 0 0 ADAM FLOOD DIRECTOR 2.00 X 0 0 0 JOSH GARVIN DIRECTOR/TEACHER 50.00 X 70733 0 5551 CLAUDIA GUMBINER HUNGS DIRECTOR 2.00 X 0 0 0 PAUL MASON DIRECTOR 2.00 X 0 0 0 THERESA NELSON DIRECTOR 2.00 X 0 0 0 JEFF TIMMERMAN DIRECTOR 2.00 X 0 0 0 JON GUTIERREZ INTERIM EXCUTIVE DIRECTOR 50.00 X 124228 0 9428 MARI BERGERSON UPPER CAMPUS DIRECTOR 50.00 X 113300 0 14892 467394 0 48814 2 0 0 0 MONARCH BUS SERVICES INC 101 E 10TH STREET STE 300 HASTINGS MN 55033 STUDENT TRANSPORTATION 406494 CKC GOOD FOODS PO BOX 431419 MINNEAPOLIS MN 55443 FOOD SERVICE 248022 BLUE RIBBON CLEANING 1525 LOCKHORST STREET BALDWIN WI 54002 JANITORIAL SERVICES 206338 STRATEGIC STAFFING SOLUTIONS PO BOX 276 MOUNT PLEASANT SC 29465 SPED SERVICES 116716 BECKY HAGAN MS CCC-SLP 15247 DUPONT PATH APPLE VALLEY MN 55124 SPEECH LANGUAGE SERVICES 106732 6 51480 10464532 103103 10619115 FOOD SALES 611710 242037 242037 ACTIVITY REVENUE 611710 225015 225015 BEFORE/AFTER SCHOOL CARE 611710 170533 170533 FEES FROM PATRONS 611710 7657 7657 MEDICAL ASSISTANCE 611710 534 534 645776 17352 17352 39161 0 39161 39161 39161 3351 51480 14864 -11513 -11513 MISCELLANEOUS REVENUE 900099 2317 2317 2317 11312208 648093 0 45000 388617 229610 159007 5401838 4725244 676594 430891 378517 52374 475583 388303 87280 421073 360043 61030 13120 13120 115958 115958 690965 651787 39178 1309 1309 172577 139315 33262 207970 73275 134695 1705118 1705118 16246 10357 5889 89586 62301 27285 62460 57651 4809 STUDENT TRANSPORTATION 425570 425570 EQUIP RENTAL & MAINT 342648 342648 FOOD SERVICE 241397 241397 INSTRUCTIONAL SUPPLIES 196127 196127 127231 97075 30156 11526284 10084338 1441946 0 X 2635481 1532280 974086 1077996 78813 69206 1021079 578919 433518 442160 8443611 6655762 12565509 9777404 902354 341011 21916 32427 16985285 13267712 17909555 13641150 X -5777564 -4305906 433518 442160 0 0 -5344046 -3863746 12565509 9777404 X -214076 1694376 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1021079 578919 442160 442160 DUE FROM BUILDING COMPANY 242249 DEFERRED OUTFLOWS - PENSION 6413513 6655762 NET PENSION LIABILITY 5313532 DEFERRED INFLOWS - PENSION 7954180 13267712 12872848 1560640 1560640 11312208 0 11312208 13197805 1761107 1761107 11436698 89586 89586 11526284 PART XI, LINE 2D - OTHER ADJUSTMENTS: BUILDING COMPANY REVENUES 1,545,776. FUNDRAISING EXPENSES 14,864. PART XII, LINE 2D - OTHER ADJUSTMENTS: BUILDING COMPANY EXPENDITURES 1,648,015. CAPITALIZED EQUIPMENT 98,228. FUNDRAISING EXPENSES 14,864. PART XII, LINE 4B - OTHER ADJUSTMENTS: DEPRECIATION EXPENSE 89,586. 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 POLICY IS INCLUDED IN THE SCHOOL'S REGISTRATION INFORMATION. SCHEDULE E, PART I, LINE 6 AS A MN PUBLIC CHARTER SCHOOL, THE ACADEMY RECEIVES STATE EDUCATION AID AND FEDERAL GRANT FUNDING. BOOSTERTHON FUN RUN 51480 51480 14848 CLASSIC FUN RUN 3351 3351 16 54831 51480 3351 14864 14864 -11513 FORM 990, PART VI, SECTION A, LINE 7A ANY STAFF MEMBERS WHO ARE EMPLOYED AT THE ACADEMY, INCLUDING TEACHERS, AND ALL PARENTS AND LEGAL GUARDIANS OF STUDENTS ENROLLED AT THE ACADEMY ARE THE VOTERS ELIGIBLE TO ELECT THE MEMBERS OF THE ACADEMY'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE BYLAWS AFFECTING THE GOVERNANCE MODEL OF THE SCHOOL REQUIRE (1) MAJORITY APPROVAL OF A QUORUM OF THE BOARD, AND (2) APPROVAL BY THE LICENSED TEACHERS EMPLOYED BY THE SCHOOL, AND (3) APPROVAL BY THE SCHOOL'S AUTHORIZER, FRIENDS OF EDUCATION. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES WITH BOARD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE FORM 990 IS REVIEWED AND ALL FINANCIAL INFORMATION VERIFIED BY THE ACADEMY'S OUTSOURCED ACCOUNTANT. THE EXECUTIVE DIRECTOR REVIEWS A DRAFT OF THE FORM 990 FOR ACCURACY OF NON-FINANCIAL INFORMATION. THE FORM 990 IS THEN REVIEW AND APPROVED BY THE BOARD CHAIR AND BOARD TREASURER. COPIES ARE DISTRIBUTED TO ALL BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS COMPLETE ANNUAL CONFLICT OF INTEREST STATEMENTS REQUIRING THEM TO IDENTIFY CONFLICTS. THESE CONFLICTS ARE SHARED WITH THE BOARD WHO SHALL DETERMINE IF A CONFLICT EXISTS. IF A CONFLICT OF INTEREST IS DETERMINED TO EXIST ON A PROPOSED BOARD ACTION, THE BOARD MEMBER REFRAINS FROM VOTING ON THAT ACTION. ALL PROCEEDINGS RELATED TO CONFLICTS OF INTEREST ARE DOCUMENTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION OF EXECUTIVE DIRECTOR (ED) WAS BASED ON A SURVEY OF OTHER LARGE CHARTER SCHOOLS IN THE METRO AREA AND THE MACS COMPENSATION SURVEY. THE OFFER AGREEMENT WAS DRAFTED BY THE BOARD CHAIR AND REVIEWED BY THE FULL BOARD. BOARD APPROVAL IS OBTAINED ANNUALLY. COMPENSATION FOR ALL ADMINISTRATIVE POSITIONS IS DETERMINED BY THE EXECUTIVE DIRECTOR, WITHIN THE BOARD APPROVED BUDGET. THIS PROCESS IS COMPLETED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE TO THE PUBLIC ON NOVA'S WEBSITE, SUMMARY BUDGETED AND ACTUAL REVENUE AND EXPENSE INFORMATION IS ON THE WEBSITE. THE AUDITED FINANCIAL STATEMENTS AND DOCUMENTS LISTED ABOVE ARE AVAILABLE UPON REQUEST. SUMMARY FINANCIAL INFORMATION IS ALSO AVAILABLE ON THE MINNESOTA DEPARTMENT OF EDUCATION'S WEBSITE. FORM 990, PART VII, SECTION A: RELATED BOARD MEMBERS PER MN STATUTE 124E.07, CHARTER SCHOOLS ARE REQUIRED TO HAVE LICENSED TEACHERS AS MEMBERS OF THE BOARD OF DIRECTORS. JOSH GARVIN, JASON BELTER AND BECKY LUND ARE BOARD MEMBERS BUT RECEIVED COMPENSATION FOR THEIR SERVICES AS TEACHERS. 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 1,694,376. FRIENDS OF NOVA CLASSICAL ACADEMY 1455 VICTORIA WAY ST PAUL MN 55102 800174213 TO CONSTRUCT AND LEASE BUILDING TO NOVA CLASSICAL ACADEMY MN 501(C)(3) LINE 12A, I NOVA CLASSICAL ACADEMY 1 0 0 0 1 0 0 0 0 0 0 1 1 0 1 1 0 1 0 0 FRIENDS OF NOVA CLASSICAL ACADEMY K 1535895 LEASE AGREEMENT FRIENDS OF NOVA CLASSICAL ACADEMY D 242249 CASH BALANCE