2018-05-11T13:50:23-05:00 2017-06-30 411690382 Malloy Montague Karnowski Radosevich 5353 Wayzata Blvd Ste 410 Minneapolis MN 55416 990 2016-07-01 473923540 Main Street School of Performing Arts ABC MAIN 9522241342 7255 Flying Cloud Drive Eden Prairie MN 55344 Matthew McFarlane Principal Officer 9522241342 2018-05-10 1 Thomas A Karnowski P00148364 9525450424 2016 2022-09-23 18:48:47Z X Matthew McFarlane 7255 Flying Cloud Drive Eden Prairie MN 55344 40183 0 X www.msspahs.org X 2015 MN Manage a building for lease to its beneficiary organization Main Street School of Performing Arts. 3 3 0 5 0 0 0 38225 0 0 0 1958 0 0 0 40183 0 0 0 0 0 0 0 0 0 0 1177595 0 1177595 0 -1137412 0 9386782 0 10524194 0 -1137412 The Corporation is organized and shall be operated exclusively in support of Main Street School of Performing Arts ("School") and in particular to purchase, own, and/or construct a public schoolhouse, for lease to the School, on real estate owned by the Corporation. 0 0 690463 To manage real estate and a rental building for lease to its beneficiary organization Main Street School of Performing Arts, a Minnesota charter school that served an estimated 270 students. 690463 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 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 MN X BerganKDV 6514632233 22488 Chippendale Ave Farmington MN 55024 X Linda Langkos President 2.00 X X 0 0 0 Tim Gangnon Vice President 2.00 X X 0 0 0 Bud Blanchette Secretary 2.00 X X 0 0 0 0 0 0 0 0 0 0 Commercial Partners Title LLC 200 South Sixth Street Suite 1300 Minneapolis MN 55402 Construction and Architectural Services 6115907 Devereaux Development Consulting 2744 Ewing Avenue South Minneapolis MN 55416 Construction and Architectural Services 211066 2 38225 38225 1958 1958 40183 0 0 1958 X 5700 5700 5500 5500 499444 24920 474524 10218 8835 1383 723 723 314873 314873 211066 211066 225 200 25 109296 109296 20550 20550 1177595 690463 487132 0 1764978 3461 7727107 109296 0 7617811 0 532 0 9386782 21658 9761027 0 741509 0 10524194 X 0 0 0 -528238 0 -609174 0 -1137412 0 9386782 -1137412 0 X X 0 1 X 1 0 X X X 1 PiM Arts High School 542116256 2 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1628173 1628173 4371827 109296 4262531 1727107 1727107 7617811 Contracts Payable 424263 Due to Other Funds 70546 Accrued Interest Payable 246700 741509 X 3340902 3331512 3331512 9390 30793 30793 40183 5438791 4262696 4262696 1176095 1500 1500 1177595 Part X, Line 2: The Building Company is exempt from federal and state income taxes under Internal Revenue Code 501(c)(3). Both are subject to tax on income from any unrelated business. On June 29, 2015, the Building Company adopted the recognition requirements for uncertain income tax positions as required by the Financial Accounting Standards Board (FASB) ASC 740-10 (formerly known as FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes), with no cumulative effect adjustment required. Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more likely-than-not be sustained upon examination by taxing authorities. The Building Company has analyzed tax positions taken for filing with the Internal Revenue Service and state jurisdiction where they operate. The Building Company believes that income tax filing positions will be sustained upon examination and do not anticipate any adjustments that would result in a material adverse affect on their respective financial condition, results of operation or cash flows. Accordingly, the Building Company has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at June 30, 2017. Part XI, Line 2d - Other Adjustments: Revenue reported by related party - Pim Arts High School 3,318,976. Netted fundraising expenes 12,536. Part XI, Line 4b - Other Adjustments: Trust fund revenue - included in school 990 30,793. Part XII, Line 2d - Other Adjustments: Expenses reported by related party - PiM Arts High School 4,250,160. Netted fundraising expenses 12,536. Part XII, Line 4b - Other Adjustments: Trust fund expenses - included in school 990 1,500. A City of Greenwood 397240AA0 2016-07-01 1010000 Finance the acquisition and improvement of an existing school facility 0 0 0 B City of Greenwood 397240AB8 2016-07-01 3000000 Finance the acquisition and improvement of an existing school facility 0 0 0 C City of Greenwood 397240AC6 2016-07-01 5530000 Finance the acquisition and improvement of an existing school facility 0 0 0 A 1010000 67893 54924 20200 866983 2017 0 0 1 1 B 3000000 201662 163142 60000 2575196 2017 0 0 1 1 C 5530000 371729 300724 280039 4577508 2017 0 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 Form 990, Part VI, Section B, line 11b This Form 990 is prepared by an independent accounting firm. Once the Form is completed, it is given to the Building Company Board for review before it is signed and filed by the Executive Director. Form 990, Part VI, Section B, line 12c The organization obtains conflict of interest statements from its 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. Form 990, Part IX, line 11g Consult. Fees / Fees For Svcs : Program service expenses 0. Management and general expenses 474,524. Fundraising expenses 0. Total expenses 474,524. ProgServ - Fees for Services-Other : Program service expenses 15,147. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,147. Consult. Fees / Fees For Svcs : Program service expenses 9,773. Management and general expenses 0. Fundraising expenses 0. Total expenses 9,773. FORM 990, PART XI, LINE 2C: The Board assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant annually. FORM 990, PART XI, LINE 3A: While Main Street School of Performing Arts Building Company's financial statements for the year end are issued under the consolidated basis, Pim Arts High School, the School, receives the federal award and undergoes an audit as set forth in the Single Audit Act and OMB Circular A-133 and not the building company. PiM Arts High School 7255 Flying Cloud Drive Eden Prairie MN 55344 542116256 Education services MN 501(c)(3) Line 2 N/A 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 PiM Arts High School J 0 Lease Agreement