2020-05-08T14:20:08-05:00 2019-06-30 411690382 Malloy Montague Karnowski Radosevich 5353 Wayzata Blvd Ste 410 Minneapolis MN 55416 990 2018-07-01 464392267 Universal Academy UNIV 6514423124 2919 28th Ave S Minneapolis MN 55406 Farhiya Einte Director 6514423124 2020-05-07 1 Thomas A Karnowski P00148364 9525450424 168.61.156.211 2020-05-07 11:36:23 CD P 7AAFBC6DA65B110676C325BD62FB1B0AFE8D7FCB 7AAFBC6DA65B110676C325BD62FB1B0AFE8D7FCB 2018 2020-09-23 17:36:50Z Farhiya Einte 2919 28th Ave S Minneapolis MN 55406 5531671 0 X uacsmn.org X 2013 MN Universal Academy will provide success for all students with high quality learning, empowerment and support from a caring and nurturing staff. 5 3 104 0 0 0 466611 519811 4450939 5011860 0 0 0 0 4917550 5531671 0 0 0 0 2031098 2443933 0 0 0 2394653 2084536 4425751 4528469 491799 1003202 6349477 7375382 3895719 3918422 2453758 3456960 Universal Academy will provide success for all students with high quality learning, empowerment and support from a caring and nurturing staff. 0 0 3930892 5011860 A learning community educating the WHOLE child, serving students in grades K-8. During the fiscal year ended June 30, 2019, the Academy served an estimated 369 students. 3930892 1 0 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 18 0 104 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 3 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 0 0 MN X Ann Yang 6512558858 2233 University Ave W Ste 450 St Paul MN 55114 Amiin Harun Chairperson 2.00 X X 0 0 0 Abdulkadir Osman Asst. Chairperson 2.00 X X 0 0 0 Marianne Mlambe Director 40.00 X 42491 0 0 Lucy Crosby Director 40.00 X 39216 0 0 Anisa Hashi Director 2.00 X 0 0 0 Farhiya Einte Director 40.00 X 117132 0 0 198839 0 0 1 0 0 0 Minnehaha Transportation Inc 2507 Walnut Street Roseville MN 55113 Transportation 351486 Done Right Food Inc 4305 Central Ave NE Columbia Heights MN 55421 Food Service 186999 Designs for Learning 2233 University Ave W 450 St Paul MN 55114 Financial Services 154739 3 501462 18349 519811 Federal and State Sour 617710 5011860 5011860 5011860 5531671 5011860 0 0 212229 212229 1781600 1428411 353189 173118 144842 28276 125701 101385 24316 151285 126307 24978 378743 277235 101508 370480 343089 27391 128828 83653 45175 1008016 1008016 4794 4794 26128 386 25742 48454 46255 2199 12395 12395 Transportation 387946 387946 Food 223267 223267 Other expenses-ProgServ 600 600 Food 59 59 -505174 -469918 -35256 4528469 3930892 597577 0 2240574 3002455 5641 3869 648356 584226 435722 104138 86621 331584 3368285 3453248 6349477 7375382 193636 283172 3702083 3635250 3895719 3918422 X 2330867 3061894 86621 331584 36270 63482 2453758 3456960 6349477 7375382 1003202 0 X X 0 1 X 1 0 X 61834 2879 58955 373888 101259 272629 331584 Pension Plan Deferments 2377584 Due from Other Funds 1075664 3453248 Net Pension Liability 1654338 Pension Plan Deferments - PERA & TR 1980912 3635250 X 5531671 0 5531671 0 5531671 4528469 0 4528469 0 4528469 Part X, Line 2: The Academy is exempt from federal and state income taxes under Internal Revenue Code 501(c)(3). The Academy is subject to tax on income from any unrelated business. On July 1, 2009, the Academy adopted the recognition requirements for uncertain income tax positions as required by the Financial Accounting Standards Board (FASB) ASC 740-10 (formerly known as FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes), with no cumulative effect adjustment required. Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more likely-than-not be sustained upon examination by taxing authorities. The Academy has analyzed tax positions taken for filing with the Internal Revenue Service and state jurisdiction where they operate. The Academy believes that income tax filing positions will be sustained upon examination and do not anticipate any adjustments that would result in a material adverse affect on their respective financial condition, results of operation or cash flows. Accordingly, the Academy has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at June 30, 2019. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 6 The Academy received Aid through the Federal Government and the State of MN to povide funding for the operational activities of the Academy. Form 990, Part VI, Section B, line 11b Once the 990 is completed by an independent CPA, a copy will be provided to the Director of the Academy and the Board via email for review before filing. Form 990, Part VI, Section B, line 12c Annually, Directors are required to sign a Conflict of Interest statement Form 990, Part VI, Section B, line 15a Executive Director will be evaluated each year by the Board. Staff/parent surveys are taken each year at year-end. Compensation for all employees including the Director are recommended to the Board via the Budget which is then approved by the Board. The Board then approves all employement agreements/contracts. Form 990, Part VI, Section C, line 19 The organization makes it governing documents, conflict of interest policy, and financial statements available to the public upon request. Part XII, Line 2c The School Board assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant annually. This process has not changed. AUTHORIZER The Academy is required to have an Authorizer to monitor its opeartions in order to maintain its charter. The Academy's approved authorizer during the fiscal year 2019 was Novation Education Opportunities. Form 990, Part VI, Section A Line 1B Several members of the Board are teachers at the school. Minnesota State Statute 124D.10 subd.4(g) requires the Board to have at least one member that is an employed/contracted teacher. RELATED ORGANIZATION COMPENSATION Explanation: Made an effort to obtain information on compensation, if any, was paid from a related organization. No response received and no other transactions noted. Form 990, PART IX, LINE 24e During the fiscal year ending June 30, 2019, changes in actuarial assumptions resulted in a significant reduction to the school's estimated pension liability, which created a "negative expense" of $456,720 for the current year.