Nonprofit · EIN 26-1221063
BEST ACADEMY INC
Tax-exempt · MINNEAPOLIS, MN 55411
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2024 | 990 | $16,399,242 | $19,509,850 | -$3,110,608 | $12,162,385 | $20,219,471 | -$8,057,086 |
| June 30, 2023 | 990 | $16,665,161 | $15,159,124 | $1,506,037 | $15,163,606 | $20,097,116 | -$4,933,510 |
Financial details: 990 for the year ended June 30, 2024
Revenue
- Contributions, gifts and grants
- $16,375,965
- of which government grants
- $16,159,646
- Program service revenue
- $11,227
- Investment income
- $12,050
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $8,684,631
- Salaries, compensation and benefits (total)
- $10,627,904
- Professional fundraising fees
- $0
- Accounting fees
- $616,783
- Occupancy
- $2,269,870
- Travel
- $59,564
- Depreciation
- $716,670
- Program services (functional)
- $17,686,073
- Management and general (functional)
- $1,823,777
Balance sheet and other
- Total assets, start of year
- $15,163,606
- Total assets, end of year
- $12,162,385
- Total liabilities, end of year
- $20,219,471
- Net assets, end of year
- -$8,057,086
- Land, buildings and equipment
- $7,215,728
- Gross receipts
- $16,399,242
- Employees
- 177
- Volunteers
- 57
- Year formed
- 2007
- State of legal domicile
- MN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ERIC MAHMOUD | EXECUTIVE DI Former | 40 | $193,649 | $13,409 |
| EMILY PETERSON | CHIEF ADMIN Officer | 40 | $161,127 | $19,828 |
| FATOU DIAHAME | BOARD MEMBER Trustee or director | 40 | $122,757 | $16,194 |
| JASON BURNS | DIRECTOR OF Officer | 40 | $114,922 | $13,593 |
| NICK BOETTCHER | BOARD MEMBER Trustee or director | 40 | $112,500 | $14,793 |
| RACHELLE LARSON | BOARD MEMBER Trustee or director | 40 | $107,926 | $16,003 |
| MEGHAN ROEGGE | BOARD MEMBER Trustee or director | 40 | $84,993 | $12,167 |
| SARAH SWANSON | BOARD MEMBER Trustee or director | 40 | $64,545 | $10,587 |
| LAYLA HAYOW | BOARD MEMBER Trustee or director | 40 | $41,853 | $7,908 |
| FOWSIYA DAHIR | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| EZRA HYLAND | BOARD CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| DEANDRA KNIGHTEN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| LAQUITA LIMO | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ANURA SI-ASAR | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MARKANETTA SMITH | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2023: 14 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ERIC MAHMOUD | EXECUTIVE DI Officer | 1 | $187,636 |
| EMILY PETERSON | CHIEF ADMIN Officer | 1 | $144,100 |
| FATOU DIAHAME | BOARD MEMBER Trustee or director | 1 | $122,181 |
| RACHELLE LARSON | BOARD MEMBER Trustee or director | 1 | $107,485 |
| NICK BOETTCHER | BOARD MEMBER Trustee or director | 1 | $97,500 |
| MEGHAN ROEGGE | BOARD MEMBER Trustee or director | 1 | $80,841 |
| LAYLA HAYOW | BOARD MEMBER Trustee or director | 1 | $56,541 |
| SARAH SWANSON | BOARD MEMBER Trustee or director | 1 | $56,525 |
| FOWSIYA DAHIR | BOARD MEMBER Trustee or director | 1 | $0 |
| EZRA HYLAND | BOARD CHAIR Trustee or director, Officer | 1 | $0 |
| DEANDRA KNIGHTEN | BOARD MEMBER Trustee or director | 1 | $0 |
| LAQUITA LIMO | BOARD MEMBER Trustee or director | 1 | $0 |
| ANURA SI-ASAR | BOARD MEMBER Trustee or director | 1 | $0 |
| MARKANETTA SMITH | BOARD MEMBER Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 1301 7TH AVE N, MINNEAPOLIS, MN 55411-3946
- In care of
- % ARTHUR ALEXANDER
- Principal officer (990 for 2023)
- EMILY PETERSON, 1300 OLSON MEMORIAL HWY, MINNEAPOLIS, MN 55441
- Signed the 990
- EMILY PETERSON, CHIEF ADMIN OFFICER
- Phone
- (612) 381-9743
- Website
- WWW.THEBESTACADEMY.ORG
- Return prepared by
- CONWAY DEUTH & SCHMIESING PLLP
Mission
TO INSTRUCT, EMPOWER, ENABLE AND GUIDE CHILDREN TO ACHIEVE SUPERIOR ACADEMIC, SOCIAL AND MORAL DEVELOPMENT.
Program accomplishments
- HARVEST BEST ACADEMY PROVIDED EDUCATIONAL SERVICES TO APPROXIMATELY 671 SCHOLARS IN KINDERGARTEN THROUGH EIGHTH GRADE.Expenses $17,686,073 · revenue $11,227
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | Not on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 26-1221063
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- School
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2009
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B40)
- Assets (IRS master file)
- $12,162,385
- Income (IRS master file)
- $16,399,242
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2024 | $16,399,242 | $19,509,850 | $12,162,385 | IRS |
| 990 | June 2023 | $16,665,161 | $15,159,124 | $15,163,606 | XML |
| 990 | June 2022 | $18,938,586 | $13,414,498 | $16,956,196 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 26-1221063).
Questions about BEST ACADEMY INC
- What is the EIN of BEST ACADEMY INC?
- The employer identification number (EIN) of BEST ACADEMY INC is 26-1221063.
- Is BEST ACADEMY INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2009.
- Are donations to BEST ACADEMY INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does BEST ACADEMY INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of BEST ACADEMY INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BEST ACADEMY INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2024.
- Who is the principal officer of BEST ACADEMY INC?
- The 990 for the year ended June 30, 2024 names EMILY PETERSON.
- Who are the officers and directors of BEST ACADEMY INC?
- The 990 for the year ended June 30, 2024 lists 15 people; 9 received compensation from the organization, the highest $193,649 (ERIC MAHMOUD, EXECUTIVE DI).
- How much revenue does BEST ACADEMY INC have?
- On its 990 for the year ended June 30, 2024 it reported revenue of $16,399,242, expenses of $19,509,850 and total assets of $12,162,385 at year end.
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