2018-03-05T13:19:53-06:00 2017-06-30 411690382 Malloy Montague Karnowski Radosevich 5353 Wayzata Blvd Suite 410 Minneapolis MN 55416 990 2016-07-01 651216244 Prairie Seeds Academy PRAI 7634501388 6200 W Broadway Ave N Brooklyn Park MN 55428 Ger Cha Yang CEO 7634501388 2018-02-26 1 Thomas A Karnowski P00148364 9525450424 174.141.196.58 2018-02-26 16:38:38 CS P 4A220BB6DE805ED6A6CF20309D422859828BBF8C 4A220BB6DE805ED6A6CF20309D422859828BBF8C 2016 2021-01-29 14:40:06Z Cha Ger Yang 6200 W Broadway Ave N Brooklyn Park MN 55428 10306606 0 X http://www.psak12.org/ X 2004 MN Provide educational programs for grades K-12 in compliance with Minnesota public education. 6 4 150 25 0 0 1294842 1236152 8816460 9068738 0 1716 0 0 10111302 10306606 0 0 0 0 4852344 5297895 0 0 0 4456838 6455838 9309182 11753733 802120 -1447127 8726799 17022411 4955540 14698279 3771259 2324132 The mission of Prairie Seeds Academy is to provide quality, relevant and multicultural education for all children. Therefore, the school will continuously promote the collaborative efforts and opportunities between children, parents, teachers, and the community. 0 0 10212902 9068738 Prairie Seeds Academy (PSA) opened in the fall of 2004 focused on serving underprivileged children. Since the opening of PSA the School has grown to an enrollment of at times over 800 students serving a wide variety of students in grades K-12. The School has made significant progress closing the education achievement gap that exist in the students PSA currently serves. During the fiscal year ended June 30, 2017 Prairie Seeds Academy served an estimated 727 students. 10212902 1 0 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 26 0 1 150 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 4 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 1 0 MN X BerganKDV 6514632233 22488 Chippendale Avenue Farmington MN 55024 Melinda Hansen - Lomen Board Chair 40.00 X X 54445 0 12691 Jeffrey Culp Secretary 40.00 X X 45539 0 5472 Xee Vue Treasurer 2.00 X X 0 0 0 Melanie Bradshaw Member 2.00 X 0 0 0 Becky Buckley Member 2.00 X 0 0 0 Sue Moua Member 2.00 X 0 0 0 Choua Yang Principal 40.00 X 127123 0 24244 Cha Ger Yang CEO 40.00 X 122512 0 24854 349619 0 67261 2 0 0 0 CKC Good Food PO Box 43419 Minneapolis MN 55443 Catered meals 483794 Northstar Bus Lines 11800 95th Avenue North Maple Grove MN 55369 Transportation 241575 Teaching Temps Inc 4050 Olson Memorial Mwy Suite 405 Minneapolis MN 55422 Substitute Services 155551 Hmong American Partnership dba Thrive Ed 1075 Arcade Street St Paul MN 55106 School Turnaround Support 148520 Beltz Kes Darling and Associates 22488 Chippendale Avenue Farmington MN 55024 Financial Management and Payroll Service 115908 5 1236152 1236152 Federal and State Sources 611710 9019855 9019855 Other Educational Purposes 611710 48883 48883 9068738 1716 1716 10306606 9068738 0 1716 349619 99984 249635 3857019 3542209 314810 327571 287581 39990 455677 345797 109880 308009 273341 34668 202946 202946 16758 16758 125090 125090 783498 764970 18528 373859 297089 76770 95784 67932 27852 2043454 2043364 90 7811 7811 35804 29274 6530 46181 20084 26097 220462 216226 4236 47122 47122 Pension Expense per Act 1319970 1319970 Food 517888 517888 Transportation 315586 315586 Pension Expense per Act 239829 239829 63796 63796 11753733 10212902 1540831 0 5511116 6068972 1181212 1133684 30419 44632 2969109 1742646 1296254 1226463 707798 8548660 8726799 17022411 556197 763034 4399343 13935245 4955540 14698279 X 2475005 927113 1296254 1365455 0 31564 3771259 2324132 8726799 17022411 -1447127 0 X X 0 1 X 1 1 1 X 306489 45683 260806 516624 260087 256537 2145996 1436876 709120 1226463 Deferred Outflows of Resources - PE 736498 Deferred Outflows of Resources - TR 7810489 Due from other funds 1673 8548660 Compensated Absences Payable 220587 Net Pension Liability - PERA 1558945 Net Pension Liability - TRA 11854635 Deferred Inflows of Resources - PER 180761 Deferred Inflows of Resources - TRA 120317 13935245 X 10309368 1531577 1531577 8777791 1528815 1528815 10306606 11490643 1265729 1265729 10224914 1528819 1528819 11753733 Part X, Line 2: The Academy is exempt from federal and state income taxes under Internal Revenue Service Code Section 501(c)(3). The Academy is subject to tax on income from any unrelated business. The Academy and the Building Company are subject to recognition requirements for uncertain income tax positions as required by the Financial Accounting Standards Board (FASB) Accounting Standards Codification 740-10 (formerly known as FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes). 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 and the Building Company have analyzed tax positions taken for filing with the Internal Revenue Service and the state jurisdiction where it operates. The Academy and the Building Company believe that income tax filing positions will be sustained upon examination and do not anticipate any adjustments that would result in a material adverse effect on the Academy and the Building Companys financial condition, results of operations, or cash flows. Accordingly, the Academy and the Building Company have not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at June 30, 2017. Part XI, Line 2d - Other Adjustments: Revenue reported by related party - PSA Building Company 1,531,577. Part XI, Line 4b - Other Adjustments: Rent received from related party netted in financial statements 1,528,815. Part XII, Line 2d - Other Adjustments: Expenses reported by related party - PSA Building Company 1,265,729. Part XII, Line 4b - Other Adjustments: Rent paid to related party netted in financial statements 1,528,815. Eliminate carryforward rounding 4. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Nondiscrimination policy is included in registration materials Schedule E, Part I, Line 6 The Academy receives state and federal aid for the purpose of educating students. Form 990, Part VI, Section A, line 2 Cha Ger Yang and Choua Yang are both officers and have a family relationship. Form 990, Part VI, Section B, line 11b The Form 990 is prepared by an independent accounting firm. Once the form is completed, it is given to the CEO and financial manager for review before it is signed and filed. The entire board does not review the 990 prior to being filed. Form 990, Part VI, Section B, line 12c Board members are required to annually report any potential conflicts of interest that may occur. Any potential conflicts are identified and resolved. Form 990, Part VI, Section B, line 15 Annual market rate analysis is used to determine appropriate compensation. Form 990, Part VI, Section C, line 19 The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Form 990, Part XII, Line 2c: AUTHORIZER: The Academy is required to have an Authorizer to monitor its operations in order to maintain its charter. The Academy's approved Authorizer during the fiscal year 2017 was Audubon Center of the North Woods. RELATED ORGANIZATION Made an effort to obtain information on compensation, if any, was paid from a related organization. No response received and transactions noted. INDEPENDENT AUDITOR The financial statements are prepared by an independent accounting firm. The statements are reviewed and approved by the board before being issued. This process is the same as last year. Form 990, Part VI, Section A, Line 1B INDEPENDENT BOARD MEMBERS 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 employee/contracted teacher. PSA Building Company 6200 West Broadway Ave North Brooklyn Park MN 55428 205892795 Facility rental MN 501(c)(3) Line 12b, II N/A 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 PSA Building Company K 1528815 Actual Cost