2024-05-14T19:52:02-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2022-07-01 842942167 INNOVATION SCIENCE & TECHNOLOGY ACADEMY INNO 7633390642 3397 COON RAPIDS BLVD COON RAPIDS MN 55433 DR OMOTOKE OLATOYE EXECUTIVE DIRECTOR 7633390642 2024-05-13 1 DR OMOTOKE OLATOYE 999009999 1 ANN NEIL P01817922 6123764500 2024-05-10 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X INNOVATION ACADEMY DR OMOTOKE OLATOYE 3397 COON RAPIDS BLVD COON RAPIDS MN 55433 1166153 0 X WWW.INNOVATIONSTA.ORG X 2019 MN TO DEVELOP STUDENT INNOVATORS WITH THE COLLABORATIVE SUPPORT OF ALL THE STAKEHOLDERS. 9 8 18 8 0 0 1194469 1166086 0 0 49 67 0 0 1194518 1166153 0 0 0 0 587347 456559 0 0 0 531154 779493 1118501 1236052 76017 -69899 770109 775420 745032 821188 25077 -45768 X INNOVATION SCIENCE AND TECHNOLOGY ACADEMY CHARTER SCHOOL WILL DEVELOP TALENTED STUDENT INNOVATORS USING A CUTTING-EDGE CURRICULUM WITH THE COLLABORATIVE SUPPORT OF STAFF, PARENTS, AND COMMUNITY. THE COLLABORATIVE CULTURE AND HEALTHY SCHOOL CLIMATE WILL FOSTER PERSONALIZED LEARNING, AND IGNITE THE POWER OF IMAGINATION AND CREATIVITY IN OUR STUDENTS, WHO WILL GROW TO BE CRITICAL THINKERS, PROBLEM SOLVERS, AND AGENTS OF CHANGE. 0 0 1043455 0 0 INNOVATION SCIENCE AND TECHNOLOGY ACADEMY CHARTER SCHOOL, A STEM-FOCUSED, HIGH-QUALITY CHARTER SCHOOL, IS HIGHLY COMMITTED TO DEVELOPING GLOBALLY CONSCIOUS STUDENT INNOVATORS IN A SMALL CLASS SIZE SETTING USING A RIGOROUS AND AN INNOVATIVE PERSONALIZED LEARNING CURRICULUM WITH THE COLLABORATIVE SUPPORT OF OUR PARENTS AND COMMUNITY.INNOVATION ACADEMY IS HIGHLY COMMITTED TO HELPING OUR SCHOLARS DEVELOP THE HABITS OF SUCCESS, CRITICAL THINKING SKILLS, PROBLEM SOLVING SKILLS, AND A SENSE OF IMAGINATION NEEDED TO THRIVE IN THE 21ST CENTURY AND BEYOND. 1043455 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 9 0 1 18 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 8 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 0 0 0 MN X DR OMOTOKE OLATOYE 7633390642 3397 COON RAPIDS BLVD NW COON RAPIDS MN 55433 ABDINASSER AHMED SECRETARY 42.00 X X 50000 0 4116 MIRANDA ADIO TREASURER 2.00 X X 0 0 0 ELIZABETH JINGWA BOARD CHAIR 2.00 X X 0 0 0 LAMYA SADIQ DIRECTOR 2.00 X 0 0 0 ADEBIMPE DIJI DIRECTOR 2.00 X 0 0 0 KHALID ANSARI DIRECTOR 2.00 X 0 0 0 YIEN DOUTH DIRECTOR 2.00 X 0 0 0 MUHAMMAD RASHEED DIRECTOR 2.00 X 0 0 0 SHUKRI AHMED DIRECTOR 2.00 X 0 0 0 OMOTOKE OLATOYE EXECUTIVE DIRECTOR 40.00 X 80580 0 15044 130580 0 19160 0 0 0 0 0 1166086 1166086 67 67 1166153 0 0 67 X 145183 48287 96896 255415 255415 21263 21263 956 956 33742 22672 11070 765 765 13020 13020 136577 72661 63916 230145 224470 5675 162979 162979 204189 204189 5100 5100 4830 4830 5397 5397 2496 2496 SPECIAL EDUCATION 12087 12087 SHORT TERM LEASE PAYMEN 651 651 DUES MEMBERSHIPS, AND L 586 586 671 2 669 1236052 1043455 192597 0 22094 17328 222431 108321 0 2843 0 5299 520285 646928 770109 775420 195895 154591 549137 666597 745032 821188 X -7563 -64304 5099 9929 27541 8607 25077 -45768 770109 775420 X -69899 -946 X X 0 1 X 1 0 X 0 DEFERRED PENSION OUTFLOWS 631894 RIGHT-TO-USE LEASE EQUIPMENT, NET 15034 646928 PENSION DEFERRED INFLOWS 102106 NET PENSION LIABILITY 559386 LEASE LIABILITY 5105 666597 1166153 0 1166153 0 1166153 1240880 10225 10225 1230655 5397 5397 1236052 PART XII, LINE 2D - OTHER ADJUSTMENTS: CAPITALIZED EXPENDITURES 7,930. PAYMENTS ON LONG-TERM LEASES 2,295. PART XII, LINE 4B - OTHER ADJUSTMENTS: AMORTIZATION EXPENSE 5,397. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 0 SCHEDULE E, PART I, LINE 3 THE SCHOOL'S NON-DISCRIMINATION POLICY IS PUBLISHED ON THEIR WEBSITE, BUT NOT ON THE ORGANIZATION'S HOMEPAGE. IT CAN ALSO BE FOUND IN THE STUDENT HANDBOOK. SCHEDULE E, PART I, LINE 6 THE SCHOOL RECEIVES FEDERAL AND STATE FUNDING. SCHEDULE E, PART I, LINE 7 THE SCHOOL'S NON-DISCRIMINATION POLICY IS PUBLISHED ON THEIR WEBSITE, BUT NOT ON THE ORGANIZATION'S HOMEPAGE. IT CAN ALSO BE FOUND IN THE STUDENT HANDBOOK. FORM 990, PART VI, SECTION A, LINE 8B THE SCHOOL DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND WILL BE PRESENTED TO BOARD MEMBERS AT A BOARD MEETING FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS ALL BOARD MEMBERS AND EMPLOYEES. CONFLICT IS DETERMINED TO EXIST IF THERE IS USE OF SCHOOL RESOURCES OR INFLUENCE OF SCHOOL OFFICE OR EMPLOYMENT FOR PRIVATE GAIN OR ADVANTAGE, ACCEPTANCE OF MONEY OR VALUABLE GIFT FROM ANYONE OTHER THAN THE SCHOOL IN RELATION TO REGULAR OFFICIAL DUTIES, OR EMPLOYMENT OR FINANCIAL AGREEMENT WITH A BUSINESS WHICH HAS A RELATIONSHIP WITH THE SCHOOL. IF ANY CONFLICT OF INTEREST EXISTS (AT ANY LEVEL) IT IS REVIEWED BY THE BOARD AT THE BOARD MEETING. IF AN ACTUAL CONFLICT WERE TO EXIST, THEY WOULD BE RESTRICTED FROM RELATED ACTIVITIES. THE PROCESS IS DOCUMENTED IN MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 72,661. MANAGEMENT AND GENERAL EXPENSES 63,916. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 136,577. FORM 990, PART XI, LINE 9: CHANGE IN PENSION LIABILITY -946. FORM 990, PART XII, LINE 1: EXPLANATION FOR METHOD OF ACCOUNTING THE SCHOOL FOLLOWS A MODIFIED ACCRUAL METHOD OF ACCOUNTING AS PRESCRIBED BY THE MINNESOTA DEPARTMENT OF EDUCATION. THE SCHOOL-WIDE FINANCIAL STATEMENTS ARE REPORTED USING THE ECONOMIC RESOURCES MEASUREMENT FOCUS AND THE ACCRUAL BASIS OF ACCOUNTING. GRANTS AND SIMILAR ITEMS ARE RECOGNIZED WHEN ALL ELIGIBILITY REQUIREMENTS IMPOSED BY THE PROVIDER HAVE BEEN MET. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNT HAS NOT CHANGED FROM THE PRIOR YEAR.