Partnership Academy Inc
Partnership Academy Inc. shows revenue growth but maintains a significant negative net asset position.
EIN: 10701608 · Richfield, MN · NTEE: B29 · Updated: 2026-03-28
Is Partnership Academy Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Partnership Academy Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Partnership Academy Inc
Partnership Academy Inc (EIN: 10701608) is a nonprofit organization based in Richfield, MN, classified under NTEE code B29. The organization reported total revenue of $12.1M and total assets of $7.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Partnership Academy Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Partnership Academy Inc with a Mission Score of 70 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Partnership Academy Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an entity with over $11 million in annual revenue, suggesting potential alternative compensation structures or a fully volunteer-led executive team.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Partnership Academy Inc's IRS 990 filings:
- Persistent negative net asset position (liabilities consistently exceed assets, e.g., $10,386,257 liabilities vs. $8,448,404 assets in 2023).
- Unusually low (0%) reported officer compensation for an organization of this size, raising questions about executive compensation transparency.
- Expenses occasionally exceed revenue, as seen in 2023 ($11,405,452 expenses vs. $11,125,353 revenue), indicating potential operational deficits.
Strengths
The following positive indicators were identified for Partnership Academy Inc:
- Significant and consistent revenue growth over the past decade, from $3.9M in 2013 to $11.1M in 2023.
- Substantial asset growth, from $939,695 in 2013 to $8,448,404 in 2023, indicating expanding capacity.
- Long filing history (12 filings) suggests established operations and compliance.
Frequently Asked Questions about Partnership Academy Inc
Is Partnership Academy Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Partnership Academy Inc (EIN: 10701608) some concerns. Mission Score: 70/100. 3 red flags identified, 3 strengths noted.
How does Partnership Academy Inc spend its money?
Partnership Academy Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Partnership Academy Inc tax-deductible?
Partnership Academy Inc is registered as a tax-exempt nonprofit (EIN: 10701608). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Partnership Academy Inc. financially stable given its negative net assets?
While the organization has grown its revenue and assets, its liabilities consistently exceed its assets, resulting in a negative net asset position. For instance, in 2023, liabilities were $10,386,257 against assets of $8,448,404, indicating a structural financial vulnerability that warrants further investigation into its long-term sustainability.
How does Partnership Academy Inc. compensate its leadership if officer compensation is 0%?
The consistent reporting of 0% officer compensation across all filings is highly unusual for an organization of this scale. This suggests that executive leadership may be compensated through other means (e.g., as employees rather than officers, or through related entities) or that the organization is truly led by unpaid volunteers at the officer level. This requires further clarification for full transparency.
What is the trend in Partnership Academy Inc.'s revenue and expenses?
Partnership Academy Inc. has shown significant revenue growth, from $3,909,374 in 2013 to $11,125,353 in 2023. Expenses have generally tracked revenue, with some periods showing expenses exceeding revenue, such as in 2023 ($11,405,452 expenses vs. $11,125,353 revenue).
What is the significance of the NTEE code B29 for Partnership Academy Inc.?
The NTEE code B29 indicates that Partnership Academy Inc. operates in the field of 'Elementary & Secondary Education, Other.' This suggests its primary mission is related to educational services for children and adolescents.
Has Partnership Academy Inc. been growing its operations?
Yes, the organization has shown substantial growth over the past decade, with revenue increasing from under $4 million in 2013 to over $11 million in 2023, and assets growing from under $1 million to over $8 million in the same period, indicating an expansion of its activities and reach.
Filing History
IRS 990 filing history for Partnership Academy Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2023), Partnership Academy Inc's revenue has grown by 234.6%, moving from $3.3M to $11.1M. Total assets increased by 631% over the same period, from $1.2M to $8.4M. Total functional expenses rose by 236.3%, from $3.4M to $11.4M. In its most recent filing year (2023), Partnership Academy Inc reported a deficit of $280K, with expenses exceeding revenue. The organization holds $10.4M in liabilities against $8.4M in assets (debt-to-asset ratio: 122.9%), resulting in net assets of $-1,937,853.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $11.1M | $11.4M | $8.4M | $10.4M | — | View 990 |
| 2022 | $11.2M | $11.0M | $7.4M | $11.0M | — | View 990 |
| 2021 | $9.1M | $8.8M | $6.9M | $10.5M | — | View 990 |
| 2020 | $7.7M | $8.4M | $5.1M | $8.5M | — | View 990 |
| 2019 | $6.2M | $5.4M | $5.7M | $8.5M | — | View 990 |
| 2018 | $5.9M | $6.8M | $6.7M | $10.3M | — | View 990 |
| 2017 | $5.9M | $6.9M | $6.9M | $9.6M | — | View 990 |
| 2016 | $5.2M | $5.0M | $1.8M | $3.4M | — | View 990 |
| 2015 | $4.9M | $4.8M | $1.4M | $3.3M | — | View 990 |
| 2013 | $3.9M | $3.9M | $940K | $357K | — | View 990 |
| 2012 | $3.5M | $3.4M | $1.4M | $942K | — | View 990 |
| 2011 | $3.3M | $3.4M | $1.2M | $670K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $11.1M, expenses of $11.4M, and assets of $8.4M (revenue -0.5% year-over-year).
- 2022: Revenue of $11.2M, expenses of $11.0M, and assets of $7.4M (revenue +22.3% year-over-year).
- 2021: Revenue of $9.1M, expenses of $8.8M, and assets of $6.9M (revenue +18.1% year-over-year).
- 2020: Revenue of $7.7M, expenses of $8.4M, and assets of $5.1M (revenue +25.7% year-over-year).
- 2019: Revenue of $6.2M, expenses of $5.4M, and assets of $5.7M (revenue +5.3% year-over-year).
- 2018: Revenue of $5.9M, expenses of $6.8M, and assets of $6.7M (revenue -1.1% year-over-year).
- 2017: Revenue of $5.9M, expenses of $6.9M, and assets of $6.9M (revenue +13.5% year-over-year).
- 2016: Revenue of $5.2M, expenses of $5.0M, and assets of $1.8M (revenue +6.5% year-over-year).
- 2015: Revenue of $4.9M, expenses of $4.8M, and assets of $1.4M (revenue +25.2% year-over-year).
- 2013: Revenue of $3.9M, expenses of $3.9M, and assets of $940K (revenue +12.4% year-over-year).
- 2012: Revenue of $3.5M, expenses of $3.4M, and assets of $1.4M (revenue +4.6% year-over-year).
- 2011: Revenue of $3.3M, expenses of $3.4M, and assets of $1.2M.
Data Sources and Methodology
This transparency report for Partnership Academy Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.