Cologne Academy Building Company

Nonprofit profile at a glance

EIN
465664727
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Cologne, MN, USA
Phone
9524662276
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$1,182,274
Expenses
$880,788
Assets
$12,732,896
Liabilities
$12,415,146

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

Leadership & pay

4 people listed

Highest reported compensation

  • Lynn Peterson (Ex Officio): $135,457 total reported compensation
  • Dustin Bentz (Board Chair): $87,658 total reported compensation
  • Laura Oman (Secretary): $73,102 total reported compensation

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

Overview

Mission

Cologne Academy Building Company's mission is to design and implement Cologne Academy's strategies related to facilities.

What it reported doing in 2024

Started in 2014, Cologne Academy Building Company issued bonds ($14.3 million) for the purchase of the existing building and the construction of a 33,000 square foot addition.

Operating model

Revenue model
Earned-program. 94% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 90
  • Accountability: 45
  • Sustainability: 73
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.1%; rating input score 67
  • Program expense ratio: 96.2%; rating input score 96
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 10th 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: 25.5%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 14.46; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.98; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 4.7%; rating input score 54; 54th percentile among comparable filings

Growth

  • Program expense growth: 1.5% per year; rating input score 100; 24th percentile among comparable filings
  • Revenue growth: 5.2% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: -1.7% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 67.1% of revenue deployed · 96.2% of spending went to programs
  • Governance: 1 of 3 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $847K in reported program spending
  • Leadership: top reported pay $135K · 4 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 3 filed related-organization links
  • 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.

  • Moderate — Accountability: Independent voting board scored 33/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • Review — Sustainability: Officer compensation ratio scored 54/100.