2026-04-16T17:42:48-05:00 2025-06-30 471019942 CREATIVE PLANNING TAX LLC 100 E PARK AVE STE 300 WATERLOO IA 50703 990 2024-07-01 202511625 LILA BUILDING COMPANY LILA 6512526705 246 11TH AVE SE FOREST LAKE MN 55025 JULIE LUNDGREN PRESIDENT 6512526705 2026-04-15 1 1 MICHELLE M HEKEL P01440878 3192346885 2026-04-15 2024 2025-03-06 01:10:19Z JULIE LUNDGREN 246 11TH AVE SE FOREST LAKE MN 55025 2797459 0 X MYLILA.ORG/DISTRICT/LILA-BUILDING-COMPANY X 2005 MN TO MANAGE SCHOOL BUILDING(S) AND PROPERTY LEASED TO LAKES INTERNATIONAL LANGUAGE ACADEMY. 3 2 0 10 0 0 0 0 2621498 2612931 170244 184528 0 0 2791742 2797459 0 0 0 0 0 0 0 0 0 2517596 2782014 2517596 2782014 274146 15445 34767103 34274449 36128961 35620862 -1361858 -1346413 X TO OWN AND MAINTAIN APPROPRIATE SCHOOL FACILITIES FOR LEASE TO LAKES INTERNATIONAL LANGUAGE ACADEMY IN FOREST LAKE, MINNESOTA. 0 0 2761664 2612931 LILA BUILDING COMPANY (LBC) LEASES THREE BUILDINGS ON TWO CAMPUSES, LOCATED IN FOREST LAKE, MN, TO LAKES INTERNATIONAL LANGUAGE ACADEMY: - LOWER SCHOOL (68,000 SQ FT) AT 246 11TH AVE SE - KINDER CENTER (21,000 SQ FT) AT 121 11TH AVE SE - UPPER SCHOOL (94,185 SQ FT) AT 19850 FENWAY AVE N THE LBC HAS TWO ISSUANCES OF FACILITY BONDS CURRENTLY. THE 2014 SERIES REFINANCED THE 2006 BONDS AND FUNDED THE PURCHASE OF LAND AND INITIAL CONSTRUCTION OF UPPER SCHOOL. THE 2019 SERIES BONDS FUNDED THE EXPANSION OF THE KINDER CENTER AND UPPER SCHOOL TO THEIR CURRENT SIZES. THE FACILITY EXPANSIONS ALLOWED THE SCHOOL TO HAVE A FULL PROGRAM FROM GRADES PRESCHOOL THROUGH 12. THE BUILDING COMPANY'S LONG TERM LEASE SCHEDULE ALLOWS THE SCHOOL TO HAVE A STABLE LANDLORD-TENANT ARRANGEMENT WITH THE LBC. THE LBC MAINTAINS THE FACILITIES THROUGH CAPITAL IMPROVEMENTS FROM TIME TO TIME AS NEEDED, FUNDED BY A MONTHLY SET-ASIDE FROM LEASE PAYMENTS. 2761664 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 2 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 0 MN X JULIE LUNDGREN 6512526705 246 11TH AVE SE FOREST LAKE MN 55025 JULIE LUNDGREN PRESIDENT/LILA CFO 4.00 50.00 X X 0 117685 27032 JEFF SCHIPPER TREASURER 1.00 0.00 X X 0 0 0 DWAYNE GREEN SECRETARY 1.00 0.00 X X 0 0 0 0 117685 27032 0 0 0 0 0 RENT REVENUE 531190 2612931 2612931 2612931 184528 184528 2797459 2612931 0 184528 9000 9000 25617 14267 11350 4550 4550 560505 560505 1370001 1370001 758570 758570 REPAIR AND MAINTENANCE 43499 43499 EQUIPMENT PURCHASES 10272 10272 2782014 2761664 20350 0 5356543 5263458 35301458 6290467 29410560 29010991 34767103 34274449 35836040 35276001 292921 344861 36128961 35620862 X 0 0 0 0 -1361858 -1346413 -1361858 -1346413 34767103 34274449 15445 0 X X 0 1 X 1 0 X X X 1 LAKES INTERNATIONAL LANGUAGE ACADEMY 200393839 2 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1215090 1215090 33379399 5908404 27470995 201208 125109 76099 505761 256954 248807 29010991 DUE TO RELATED ORGANIZATION 344861 344861 X PART X, LINE 2: THE ACADEMY IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). THE ACADEMY IS ALSO EXEMPT FROM MINNESOTA FRANCHISE OR INCOME TAX. THE ACADEMY IS REQUIRED TO ASSESS WHETHER AN UNCERTAIN TAX POSITION EXISTS AND IF THERE SHOULD BE RECOGNITION OF A RELATED BENEFIT OR LIABILITY IN THE BASIC FINANCIAL STATEMENTS. THE ACADEMY HAS DETERMINED THERE ARE NOT AMOUNTS TO RECORD AS ASSETS OR LIABILITIES RELATED TO UNCERTAIN TAX POSITIONS. A CITY OF FOREST LAKE 416005456 345856AJ7 2014-02-25 16804789 REFUND PRIOR ISSUE AND CONSTRUCTION 0 0 0 B CITY OF FOREST LAKE 416005456 345856AV0 2019-02-12 21415000 CONSTRUCT ADDITIONS 0 0 0 A 2870000 16871557 1226380 182582 336096 8122824 7003675 2014 1 0 1 1 B 550000 20975443 1961132 1147000 417311 16771846 2020 0 0 0 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 1 0 0 0 0 0 B 1 0 0 0 0 0 A 0 B 0 FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF THE ORGANIZATION IS LAKES INTERNATIONAL LANGUAGE ACADEMY FORM 990, PART VI, SECTION A, LINE 7A THE SOLE MEMBER OF THE ORGANIZATION APPOINTS ALL THREE OF THE LILA BUILDING COMPANY BOARD MEMBERS ANNUALLY. FORM 990, PART VI, SECTION A, LINE 7B THE SOLE MEMBER OF THE ORGANIZATION HAS THE ABILITY TO ALTER OR REPEAL THE ORGANIZATION'S BYLAWS. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION 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 ACCOUNTANT AND REVIEWED IN DETAIL BY THE ORGANIZATION'S PRESIDENT. THE FINAL DRAFT IS FORWARDED TO THE FULL BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO FILING. IN ADDITION, THE LAKES INTERNATIONAL LANGUAGE ACADEMY AUDIT COMMITTEE REVIEWS THE LILA BUILDING COMPANY'S FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C AS A STANDARD PART OF EACH BOARD AGENDA, BOARD DIRECTORS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST OR POTENTIAL CONFLICTS OF INTEREST BASED ON THE AGENDA. THE BOARD DETERMINES WHETHER OR NOT THE DISCLOSURE IS A CONFLICT AND WHETHER OR NOT THE INDIVIDUAL MAY REMAIN IN THE ROOM FOR THE DISCUSSION AND/OR VOTE. MEMBERS DETERMINED TO HAVE A CONFLICT WHO ARE ALLOWED TO REMAIN FOR THE DISCUSSION MAY ONLY CONTRIBUTE MATERIAL FACTS AND ANSWER QUESTIONS. MEMBERS WHO HAVE A CONFLICT MUST LEAVE THE MEETING FOR THE VOTE. ALL BOARD PROCEEDINGS ARE DOCUMENTED IN THE MINUTES. IF A CONFLICT WERE TO BE DISCOVERED AFTER A VOTE OR MEETING, THE DECISION WOULD BE VOIDED AND THE ITEM RETURNED TO THE AGENDA FOR A REVOTE. IF A TRANSACTION WERE TO BE DISCOVERED AFTER THE FACT, THE BOARD AND SCHOOL ADMINISTRATION WOULD WORK TOGETHER TO DETERMINE ANY RAMIFICATIONS AND MAKE CORRECTIONS, INCLUDING CORRECTIVE AND DISCIPLINARY ACTIONS FOR THE MEMBER WITH THE UNDISCLOSED CONFLICT. IN ADDITION, AN ANNUAL "RELATED PARTIES QUESTIONNAIRE" IS COMPLETED BY THE ORGANIZATION'S BOARD MEMBERS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XII, LINE 1: THE BUILDING COMPANY 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 I, LINE 6 THE BUILDING COMPANY HAS NO PAID EMPLOYEES AND APPROXIMATELY 10 VOLUNTEERS: THOSE WHO SERVE ON ITS BOARD, HELP REVIEW THE TAX FILING, AND LILA ADMINISTRATORS. LAKES INTERNATIONAL LANGUAGE ACADEMY 246 11TH AVE SE FOREST LAKE MN 55025 200393839 PUBLIC SCHOOL MN 501(C)(3) LINE 2 N/A 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1