Bultum Academy

Nonprofit profile at a glance

EIN
850798553
IRS 990 coverage
2022–2024
Official website data refreshed
Jul 2026
Forms available
Form 990 2024
Location
Columbia Heights, MN, USA
Phone
763-450-3522
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$3,895,452
Expenses
$4,035,844
Assets
$2,110,211
Liabilities
$1,615,940

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Highest reported compensation

  • ARIF BAKAR (SCHOOL DIRECTOR): $122,009 total reported compensation
  • ROBERT STUBBS (DIRECTOR): $56,431 total reported compensation
  • SARAH TOBE (SECRETARY): $54,134 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Bultum academy is a dynamic and innovative charter school dedicated to fostering a love for learning and empowering students to achieve educational excellence. As a charter school, bultum academy provides a unique learning environment that prioritizes inclusivity, student-centered learning, and high academic standards. Our mission is to equip students with the skills and knowledge they need to thrive in a rapidly changing world by offering personalized and engaging educational experiences. We envision a community where every student, regardless of background, is empowered to reach their full potential, become lifelong learners, and contribute meaningfully to society. At bultum academy, we are committed to creating a nurturing environment that inspires curiosity, creativity, and critical thinking, preparing our students for success in college, careers, and beyond.

What it reported doing in 2024

Bultum academy charter school is committed to providing a high-quality, culturally responsive education that empowers students to achieve academic excellence while embracing their cultural heritage and identity. During the 2024/2025 school year, bultum academy served a diverse student population with a focus on personalized learning, character development, and community engagement.one of the school's core accomplishments is its dedication to creating a safe, supportive, and inclusive learning environment where students receive individualized academic and behavioral support. Through initiatives like our robust behavior intervention programs aligned with the pupil fair dismissal act, we ensure that students are held to high standards while being given the tools and opportunities to grow socially and emotionally.bultum academy has also excelled in fostering academic achievement by implementing research-based instructional strategies and culturally relevant curricula tailored to the needs of our students. Our teachers and staff provide differentiated instruction, small group interventions, and individualized education plans to support every student's academic journey.in addition to academics, the school emphasizes character education and leadership development, empowering students to become responsible, compassionate, and community-minded citizens. Through partnerships with families and community members, bultum academy nurtures strong home-school connections, recognizing the essential role families play in student success. As we continue to grow and evolve, bultum academy remains dedicated to its mission of cultivating well-rounded, high-achieving students prepared to thrive in a global society.

Operating model

Revenue model
Grant-funded. 91% of the money available for current operations came from government grants.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 92
  • Accountability: 58
  • Sustainability: 23
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.9%; rating input score 88
  • Program expense ratio: 84.8%; rating input score 85
  • 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: 60%; rating input score 60; 9th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3.6%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 0.52; rating input score 18; 18th percentile among comparable filings
  • Liabilities to assets ratio: 0.77; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 5.8%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: 19.2% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 21.6% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 25.1% per year; rating input score 100; 90th percentile among comparable filings

Details

  • What they do: 1 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 87.9% of revenue deployed · 84.8% of spending went to programs
  • Governance: 3 of 5 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.4M in reported program spending
  • Leadership: top reported pay $122K · 10 people listed
  • Highest-paid contractors: 4 contractors listed · $693K reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Sustainability: Operating margin scored 23/100.
  • High — Sustainability: Total-asset coverage ratio scored 18/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.