2013-02-15T15:26:45-06:00 2012-06-30 411690382 Malloy Montague Karnowski Radosevich 5353 Wayzata Blvd Ste 410 Minneapolis MN 55416 990 2011-07-01 201775622 SPCPA Building Company SPCP 6512902225 75 West 5th Street No 522 St Paul MN 55102 Callie Jacobs 6512902225 2013-02-02 1 Thomas A Karnowski P00148364 9525450424 2013-02-02 2011 2016-03-07 17:11:31Z Callie Jacobs 75 West 5th Street No 522 St Paul MN 55102 688318 0 X spcpa.org X 2004 MN To purchase real estate to lease to St. Paul Conservatory for Performing Artists, a MN Charter School 4 3 0 0 0 0 0 0 875471 688318 0 0 0 0 875471 688318 0 0 0 0 0 0 0 0 0 880108 533522 880108 533522 -4637 154796 476417 456042 297455 122285 178962 333757 To purchase, own, and improve buildings and real estate for lease to its beneficiary organization St. Paul Conservatory for Performing Artists, a Minnesota Charter School. 0 0 511734 688318 To purchase, own, and improve buildings and real estate for lease to its beneficiary organization St. Paul Conservatory for Performing Artists, a Minnesota Charter School that serves an estimated 668 students. 511734 1 0 0 0 0 0 0 0 0 0 1 0 0 0 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 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 3 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 MN X Beltz Kes Darling and Associates 6514632233 22488 Chippendale Avenue Farmington MN 55024 Client Allen 0.50 X 0 0 0 Ken Gilliam 0.50 X 0 0 0 Dan Parker 0.50 X 0 0 0 Callie Jacobs 0.50 X X 0 101870 0 0 101870 0 0 0 0 0 0 Rent Revenue 900099 688318 688318 688318 688318 688318 0 0 3975 3975 17750 17750 466073 466073 11139 11139 34585 34522 63 533522 511734 21788 0 89448 92205 2372792 2008955 386969 363837 476417 456042 949 528 77592 0 218914 121757 297455 122285 X 10907 91677 168055 242080 0 0 178962 333757 476417 456042 X 154796 -1 X X 0 1 1 X 0 X X X 0 0 0 Saint Paul Conservatory for Performing Artists 820555555 170(b)(1)(A)(vi) 1 1 1 0 1 0 2361005 1999656 361349 11787 9299 2488 363837 688318 533522 154796 -1 -1 154795 5041860 5041860 5041860 0 688318 688318 688318 4461363 4616159 4616159 -154796 688318 688318 533522 Description of Uncertain Tax Positions Under FIN 48: Part X: The Building Company is exempt from income taxes under Internal Revenue Service Code 501(c)(3). The Building Company is subject to a tax on income from any unrelated business. On July 1, 2009, 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 the 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 the Building Company's financial condition, results of operations, 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, 2012. Part XII, Line 2d - Other Adjustments: Revenue reported by related party - St. Paul Conservatory for Performing Art 5,041,860. Part XII, Line 4b - Other Adjustments: Rent from related party 688,318. Part XIII, Line 2d - Other Adjustments: Expense reported by related party - St. Paul Conservatory for Performing Art 4,616,159. Part XIII, Line 4b - Other Adjustments: Rent from related party 688,318. Form 990, Part VI, Section B, line 11 The 990 is reviewed by Finance Committee prior to review by full board. Finance committee makes recommendations to board concerning acceptance or denial. The 990 was not presented and explained in full to all members. Form 990, Part VI, Section B, line 12c All Directors are required to annually sign a conflict of interest disclosure statement. Any known conflicts are to be reported immediately to the board. Form 990, Part VI, Section C, line 19 The Building Company's governing documents, conflict of interest policy, and financial statements are available to the public upon request. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Prior period adjustments: -1. Selection of the auditor Form 990, Part XI, Line 2c The Board review and apporves the audit and the selection of the independent auditor annually. The process has not changed from the prior year. RELATED ORGANIZATION COMPENSTATION Made an effort to obtain information on compensation, if any, was paid from a related organization. No response received and no transactions noted. Related organization FORM 990, PART VII, COLUMN B There were three individuals listed on Part VII that also served on the board for a related party, the St. Paul Conservatory for preforming artists. The individuals and the hours per week worked are Clint Allen (.5 hours), Ken Gilliam (.5 hours), and Callie Jacobs (40 hours). ST PAUL CONSERVATORY FOR PERFORMING ARTISTS 75 WEST 5TH STREET STE 522 ST PAUL MN 55102 820555555 EDUCATION MN 501(c)(3) 7 N/A 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 St Paul Conservatory for Performing Artists I 688318 Lease Agreement