2016-05-11T07:39:14-07:00 2015-06-30 Beltz Kes Darling & Associates 22488 Chippendale Ave W Farmington MN 55024 990 2014-07-01 611677994 Venture Academies VENT 6123459040 315 27th Ave SE Minneapolis MN 55414 Jon Bacal CEO 2016-05-09 true Theresa Kingsbury P01062926 6514632233 2014 2016-08-17 19:52:53Z Jon Bacal 315 27th Ave SE Minneapolis MN 55414 2906981 false false X www.ventureacademies.org X 2012 MN See Part III, Line 1 10 8 42 0 2218107 2903753 2207 1823 0 1405 2220314 2906981 0 0 968319 1670588 0 3200 1041760 1274789 2010079 2945377 210235 -38396 571588 602287 258271 467748 313317 134539 Ventures mission is to ignite the passion of all young people to become innovators and entrepreneurial leaders who will change the world. Venture seeks to enable young people to achieve unprecedented learning growth, demonstrate character and leadership and learn to imagine opportunities, take initiative and create solutions false false 2386105 3228 Venture Academy opened its doors to students for its inaugural school year. The school served 114 students in grades 6 and 7. The school educated students with a combined purpose of growing the entrepreneurial spirit while aspiring to reach individual goals and state educational standards. 2386105 true true false false false false false false false false true false false false true false true false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 26 0 true 42 true false false false false false false false false 0 false false false false false false false false false false X 10 8 false false false false false true false true true false false false true true true true true true true false MN X Beltz Kes Darling Assoc 6514632233 22488 Chippendale Ave Farmington MN 55024 X Eric Herron Chairperson 5.00 0.00 X X 0 0 0 Brian Peterson Treasurer 3.00 0.00 X X 0 0 0 Betsy Ohrn Secretary 3.00 0.00 X X 0 0 0 Adam Carter Director 3.00 0.00 X 0 0 0 Jason Davis Director 3.00 0.00 X 0 0 0 Bethany Franz Director 43.00 0.00 X 28401 0 4346 Lorena Montano Silva Director 3.00 0.00 X 0 0 0 Jeff Robbins Director 3.00 0.00 X 0 0 0 Wendy Swanson-Choi Director 3.00 0.00 X 0 0 0 Bre Vollrath Director 43.00 0.00 X 22062 0 1810 Jon Bacal CEO 50.00 0.00 X 95175 0 25782 145638 31938 0 false false false Done Right Food Services Inc PO Box 21153 Columbia Heights MN 55421 Food Service 109220 Monarch Bus Service Inc 101 East 10th Street STE 300 Hastings MN 55033 Transportation 202946 2 2866677 37076 2903753 Fees from Patrons 611710 1240 1240 Food Sales to Adults 722210 583 583 1823 0 0 0 0 0 0 0 0 Miscellaneous Revenue 900099 1405 1405 1405 2906981 3228 0 0 0 0 238227 121259 116968 30341 30341 1046155 882391 163764 139998 101475 38523 105370 88860 16510 110497 80877 29620 5995 5995 3653 3653 57272 57272 0 0 0 128603 108923 16480 3200 13430 13430 10891 10891 83602 31000 52602 0 357239 357239 0 0 41415 38052 3363 5782 5782 0 9597 8569 1028 12042 12042 Transportation 273689 273689 Food Service 145629 145629 Supplies 79622 79622 Dues & Memberships 24486 4295 20191 21842 21842 2945377 2386105 556072 3200 102445 65443 0 0 281592 371020 0 0 0 0 122229 107728 75334 17238 65322 58096 0 0 0 0 0 571588 602287 183271 116776 75000 150000 200972 258271 467748 X 247995 76443 65322 58096 313317 134539 571588 602287 X -38396 -140382 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 75334 17238 58096 58096 Net Pension Liability, def outflow/inflo 200972 200972 2905343 2905343 1638 1638 2906981 2875923 2370 2370 2873553 71824 71824 2945377 Part XI, Line 4b: Other revenue amounts included on 990 but not included in F/S State Aid related to Pension Expense $1638 Part XII, Line 2d: Other expenses and losses per audited F/S Capital Outlay $2370 Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S Depreciation Expense $9596 Pension Expense $62228 true true true true true true true false false false false false false false false true false true Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency In Minnesota, charter schools are considered public schools and, as such, receive general education and special education aids in accordance with Minnesota Department of Education funding formulas. Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized Policies are made available upon request and during registration. Schedule E, Line 4 - Explanation of Records and Materials Not Maintained Schedule E, Line 5 - Explanation of Organization Discrimination by Race Form 990, Part VI, Line 11b: Form 990 Review Process The Form 990 is prepared by the school accountant. Prior to filing the form 990, members of the finance committee will conduct a detail review and provide the approved public disclosure draft of the form 990 to the full Board of Directors for any change requests or questions. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts Each Board member, Principal Officer and Member of a Committee with board delegated powers shall annually sign a conflict of interest statement. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the board and members of committees with board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. All deliberations and decisions involving conflicts of interest are documented in the meeting minutes. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management Market rate analysis of like sized charter schools is done to determine compensation for the CEO, officers, and other key employees. This process was last performed in 2014. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available The organization makes its governing documents, policies, and financial statements available to the public upon request. Prior Period Adjustment due to change in Accounting Principle The School implemented two new accounting standards (GASB 68 and 71) for the year ended June 30, 2015 which required recognition of the schools proportionate share of the unfunded pension liability. As a charter school in the state of Minnesota, participation in two multiple-employer, cost-sharing defined benefit pension plans is statutorily required. The schools 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 is reported on the schools Statement of Net Position, the school is not in a position to directly control the liability or the subsequent liquidation of the liability. Related Board Members Per MN Statute 124D.10, Charter schools are required to have licensed teachers as members of the Board of Directors.Bethany Franz and Bre Vollrath are Board Members, but received compensation for their services as teachers.