Partnership Academy Inc

Nonprofit profile at a glance

EIN
010701608
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-N 2013
Location
Richfield, MN, USA
Phone
6128663630
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$12,173,345
Expenses
$13,766,174
Assets
$4,283,740
Liabilities
$8,021,809

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

Leadership & pay

10 people listed

Executive titles in this filing

  • Michael Johnson (Executive Director)

Highest reported compensation

  • Michael Johnson (Executive Director): $161,721 total reported compensation
  • Lisa Hendricks (Director of Finance): $136,618 total reported compensation
  • Anne Olson (Board Treasurer/Teacher): $67,431 total reported compensation

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

Overview

Mission

Partnership academy provides exceptional learning opportunities for students in grades preschool-8th grade who live in Richfield and neighboring communities of Bloomington and South Minneapolis. Students at Partnership Academy benefit from an exceptional academic program that is culturally relevant and fosters strong social and emotional wellbeing. Students have one to one device access to technology as well as opportunities to participate in extended learning through after school and summer programming.

What it reported doing in 2024

Operation of an educational institution for approximately 530 students in grades preschool through eighth. Enrollment at the school continues to be strong and parent satisfaction is very high.

Operating model

Revenue model
Grant-funded. 100% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 80
  • Accountability: 78
  • Sustainability: 14
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99%; rating input score 99
  • Program expense ratio: 87.5%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 71.4%; rating input score 71; 12th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -13.1%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 0.31; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 1.87; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 3.1%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 10.7% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: 9.7% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: 11.3% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 99% of revenue deployed · 87.5% of spending went to programs
  • Governance: 5 of 7 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $12M in reported program spending
  • Leadership: top reported pay $162K · 10 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.5M reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 7 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

  • High — Sustainability: Operating margin scored 8/100.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.