Arete Academy
Nonprofit profile at a glance
- EIN
- 465681606
- IRS 990 coverage
- 2015–2024
- Forms available
- Form 990 2024, Form 990-EZ 2014
- Location
- Minnetonka, MN, USA
- Phone
- 9527377601
- Rating
- 72
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Secondary, High School
Reported finances
- Revenue
- $1,160,737
- Expenses
- $706,650
- Assets
- $1,123,858
- Liabilities
- $374,678
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- KATY HOKANSON (VICE PRESIDENT)
Highest reported compensation
- JAMIE M TEIGEN (ASSISTANT DIRECTOR): $45,710 total reported compensation
- ANNE DUNNINGAN (STAFF SECRETARY): $24,629 total reported compensation
- MAXWELL S MELBY (DIRECTOR): $12,416 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Arete academy of exceptional education is committed to partnering with students, parents, and the community to provide a nurturing environment for gifted students who learn differently. At arete, each student's unique gifts are recognized and celebrated, and their learning differences are accepted and supported. Students experience a sense of belonging and build self-esteem through programming focused on strength-based learning, flexibility, educational technology, and a commitment to embracing the whole child. We strive to meet each student's academic, social and emotional needs to encourage them to reach their full potential and apply their gifts to make lasting contributions to their community.
What it reported doing in 2024
Arete a2e2, located in minneapolis, mn, aka arete academy of exceptional education, is a private school which provides educational services to students in grades 6-12 who are twice exceptional. Twice exceptional students are both gifted and have a learning disability such as dyslexia, dysgraphia, auditory processing disorders, and/or adhd. The school provides sensory-friendly classrooms and operates on a typical school-year calendar. Summer programs are also provided by the school. Our exempt purpose is to operate as a school and provide educational opportunities and support services to bright youths who learn differently.
Operating model
- Revenue model
- Earned-program. 72% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 54
- Transparency & Controls: 92
- Accountability: 84
- Sustainability: 65
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 47.5%; rating input score 48
- Program expense ratio: 82%; rating input score 82
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 5 of 8 controls in place; rating input score 62
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 39.1%; rating input score 89; 89th percentile among comparable filings
- Total-asset coverage ratio: 1.59; rating input score 58; 58th percentile among comparable filings
- Liabilities to assets ratio: 0.33; rating input score 23; 23rd percentile among comparable filings
- Officer compensation ratio: 11.7%; rating input score 31; 31st percentile among comparable filings
Growth
- Program expense growth: -1.3% per year; rating input score 0; 14th percentile among comparable filings
- Revenue growth: 6.6% per year; rating input score 100; 52nd percentile among comparable filings
- Asset growth: 16.4% per year; rating input score 100; 75th percentile among comparable filings
Details
- Where the money goes: 47.5% of revenue deployed · 82% of spending went to programs
- Governance: 8 of 8 board members independent · 5 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $580K in reported program spending
- Leadership: top reported pay $46K · 11 people listed
- Consistency: 27 of 27 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Filing history: 9 filing years from 2015 to 2024
- Contacts: How to reach this organization
- Money network: 4 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Financial Efficiency: Mission deployment rate scored 48/100.
- Review — Accountability: Governance controls: 3 of 8 not reported.
- High — Growth: Program expense growth scored 0/100.
- Review — Sustainability: Total-asset coverage ratio scored 58/100.
- High — Sustainability: Liabilities to assets ratio scored 23/100.
- Moderate — Sustainability: Officer compensation ratio scored 31/100.