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Full title: SUPPLEMENT TO MARCH MONTHLY OPERATING REPORT filed by Trustee James A Bartholomew re: 312 Chapter 11 monthly operating report FRBP 2015.. (Kristin MNBS) (Entered: 05/05/2021)

Document posted on May 4, 2021 in the bankruptcy, 11 pages and 0 tables.

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Case No. 19-33629 (WJF) Minnesota School of Business, Inc., Globe University, Inc., Case Consolidated Balance Sheet for Minnesota School of Business, Inc. and subsidiaries as of March 31, 2021.Consolidated Income Statement of Minnesota School of Business, Inc. and its subsidiaries for the month of March 2021.521,6 INCOME/EXPENSES ST INCOME 0 0 0 0 0 0 227 0 227 0 0 ST EXPENSE (28,383) 0 (28,383) (721) 0 (721) (42,249) 0 (42,249) (505) 0 (5 OTHER INCOME/EXPENSES (28,383) 0 (28,383) (721) 0 (721) (42,022) 0 (42,022) (505) 0 (5COME (LOSS) 57,415 0 57,415 53,627 0 53,627 14,317 0 14,317 (483,145) 0 (483,1 LL RELATED EXPENSES RATE SALARIES 0 0 0 0 0 0 0 0 0 0 0 MPLOYER MATCH 0 0 0 0 0 0 0 0 0 0 0 LL TAX EXPENSE 0 0 0 0 0 0 0 0 0 0 0 PAYROLL EXPENSES 0 0 0 0 0 0 0 0 0 0 0 74,57MPLOYER MATCH 0 0 0 0 0 0 441 0 441 441 0 44 LL TAX EXPENSE 0 0 0 0 0 0 10,096 0 10,096 10,096 0 10,09 PAYROLL EXPENSES 0 0 0 0 0 0 85,112 0 85,112 85,112 0 85,11ETING EXPENSES, excluding salaries ANCY EXPENSES EES 5,658 0 5,658 36,012 0 36,012 0 0 0 70,389 0 70,38STATE TAXES 29,597 0 29,597 107,045 0 107,045 0 0 0 284,341 0 284,34 & SEWER 360 0 360 1,626 0 1,626 0 0 0 10,476 0 10,47IES 23,418 0 23,418 20,049 0 20,049 0 0 0 112,331 0 112,331,814 0 1,814 0 0 0 0 0 0 37,387 0 37,38 NG R&M 4,918 0 4,918 964 0 964 0 0 0 18,829 0 18,82ING & SUPPLIES 8,879 0 8,879 4,185 0 4,185 0 0 0 27,192 0 27,19ROTECTION 0 0 0 0 0 0 0 0 0 1,406 0 1,40

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UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MINNESOTA In re: Jointly Administered Under Case No. 19-33629 (WJF) Minnesota School of Business, Inc., Globe University, Inc., Case No. 19-33629 Case No. 19-33632 Chapter 11 Cases Debtors. SUPPLEMENT TO MARCH MONTHLY OPERATING REPORT Attached are the following documents to supplement the March Monthly Operating Report [ECF No. 312]: 1. Consolidated Balance Sheet for Minnesota School of Business, Inc. and subsidiaries as of March 31, 2021. 2. Balance Sheet for Globe University, Inc. as of March 31, 2021. 3. Consolidated Income Statement of Minnesota School of Business, Inc. and its subsidiaries for the month of March 2021. 4. Consolidated Income Statement for Globe University Inc. for the month of March 2021. The attached reports have been prepared on an accrual basis. For the sake of clarity, the income statements include noncash items, including depreciation. May 5, 2021 /e/ Edwin H. Caldie Edwin H. Caldie (#0388930) Phillip J. Ashfield (#0388990) Brittany M. Michael (#0397592) STINSON LLP 50 South Sixth Street Suite 2600 Minneapolis, MN 55402 Telephone: 612.335.1500 Facsimile: 612.335.1657 COUNSEL TO THE CHAPTER 11 TRUSTEE

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3/31/2021 12/31/2020 ASSETS Current Assets Cash and equivalents 2,537,512 2,547,078 Restricted cash 460,407 460,180 Tenant receivables, net 33,812 67,673 Prepaid expenses 287,812 8,602 Due from affiliates 10,625,757 10,560,522 Notes receivable from shareholders (2,386,577) (2,386,577) Total current assets 11,558,723 11,257,478 Property and Equipment Equipment 1,254,998 1,254,998 Furniture and fixtures 281,163 281,163 Buildings and improvements 35,962,228 35,955,907 37,498,389 37,492,068 Accumulated depreciation and amortization (13,254,172) (12,623,300)24,244,218 24,868,768 Land 8,554,466 8,554,466 Propery and equipment, net 32,798,684 33,423,234 Other Assets Lease related receivables and initial direct cost 1,740,830 1,807,961Loan origination fees, net 3,247 3,525 Total other assets 1,744,077 1,811,486 TOTAL ASSETS 46,101,483 46,492,198

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EQUITY Current Liabilities Current portion of long-term debt 374,200 374,200 Accounts payable 98,686 143,133 Accrued liabilities 938,314 629,706 Total current liabilitites 1,416,224 1,152,063 Long-term Debt Notes payable to banks 7,770,410 7,861,776 Total liabilities 9,186,633 9,013,839 SHAREHOLDERS' EQUITY Common stock 30,360 30,360 Additional paid-in capital 3,622,773 3,622,773 Retained earnings 33,825,226 34,329,811 Current year income (563,510) (504,585) Total shareholders' equity 36,914,850 37,478,359 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 46,101,483 46,492,198

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3/31/2021 12/31/2020 ASSETS Current Assets Property and Equipment Other Assets

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SHAREHOLDERS' EQUITY Current Liabilities Accounts payable 943,800 943,800 Accrued liabilities 127,168 127,168 Due to affiliates 12,375,675 12,310,440 Total current liabilitites 13,446,644 13,381,408 Long-term Debt Total liabilities 13,446,644 13,381,408 SHAREHOLDERS' EQUITY Common stock 30,360 30,360 Additional paid-in capital 2,100,840 2,100,840 Retained earnings (15,512,608) (14,977,051) Current year income (65,235) (535,557) Total shareholders' equity (13,446,644) (13,381,408)

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Brooklyn Center Shakopee Rochester Blaine Actual Budget Variance Actual Budget Variance Actual Budget Variance Actual Budget VarianUE TIES INCOME $211,450 $0 $211,450 $274,250 $0 $274,250 $147,930 $0 $147,930 $39,000 $0 $39,0 REVENUE 211,450 0 211,450 274,250 0 274,250 147,930 0 147,930 39,000 0 39,0TING EXPENSES LL EXPENSES 0 0 0 0 0 0 0 0 0 0 0 H INSURANCE 0 0 0 0 0 0 0 0 0 0 0 ARE 0 0 0 0 0 0 0 0 0 0 0 & ACCOUNTING 0 0 0 0 0 0 0 0 0 303 0 3 MENT LEASE 0 0 0 0 0 0 0 0 0 0 0 ANCE 0 0 0 0 0 0 0 0 0 0 0 ERVICE CHARGES 42 0 42 42 0 42 42 0 42 42 0 L EXPENSE 408 0 408 532 0 532 0 0 0 0 0 GE 0 0 0 0 0 0 0 0 0 0 0 ONE 2,234 0 2,234 234 0 234 182 0 182 746 0 7 LL PROCESSING 0 0 0 0 0 0 0 0 0 0 0 CIATION EXPENSE 15,377 0 15,377 38,925 0 38,925 25,773 0 25,773 422,717 0 422,7TIZATION EXPENSE 0 0 0 0 0 0 0 0 0 0 0 SOTA FRANCHISE TAX 0 0 0 0 0 0 0 0 0 0 0 & USE TAX 608 0 608 161 0 161 315 0 315 261 0 2 ANCY EXPENSE 106,983 0 106,983 180,009 0 180,009 65,279 0 65,279 97,573 0 97,5 OPERATING EXPENSES 125,651 0 125,651 219,902 0 219,902 91,591 0 91,591 521,641 0 521,6 INCOME/EXPENSES ST INCOME 0 0 0 0 0 0 227 0 227 0 0 ST EXPENSE (28,383) 0 (28,383) (721) 0 (721) (42,249) 0 (42,249) (505) 0 (5 OTHER INCOME/EXPENSES (28,383) 0 (28,383) (721) 0 (721) (42,022) 0 (42,022) (505) 0 (5COME (LOSS) 57,415 0 57,415 53,627 0 53,627 14,317 0 14,317 (483,145) 0 (483,1

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LL RELATED EXPENSES RATE SALARIES 0 0 0 0 0 0 0 0 0 0 0 MPLOYER MATCH 0 0 0 0 0 0 0 0 0 0 0 LL TAX EXPENSE 0 0 0 0 0 0 0 0 0 0 0 PAYROLL EXPENSES 0 0 0 0 0 0 0 0 0 0 0 ETING EXPENSES, excluding salaries ANCY EXPENSES EES 15,588 0 15,588 8,172 0 8,172 1,519 0 1,519 3,441 0 3,4STATE TAXES 25,278 0 25,278 41,753 0 41,753 35,312 0 35,312 45,357 0 45,3 & SEWER 4,415 0 4,415 2,363 0 2,363 868 0 868 844 0 8IES 22,678 0 22,678 31,749 0 31,749 7,925 0 7,925 6,512 0 6,57,253 0 7,253 16,189 0 16,189 1,979 0 1,979 10,153 0 10,1NG R&M 8,374 0 8,374 3,892 0 3,892 581 0 581 100 0 1ING & SUPPLIES 540 0 540 12,945 0 12,945 0 0 0 643 0 6ROTECTION 0 0 0 280 0 280 676 0 676 450 0 4 REPAIRS 5,385 0 5,385 8,411 0 8,411 3,200 0 3,200 3,208 0 3,2CAPE 0 0 0 0 0 0 0 0 0 2,787 0 2,7 G LOT R&M 950 0 950 3,635 0 3,635 0 0 0 0 0 E 1,648 0 1,648 7,304 0 7,304 395 0 395 856 0 8 ITY 0 0 0 6,126 0 6,126 0 0 0 0 0 PLOWING 4,615 0 4,615 26,460 0 26,460 5,793 0 5,793 17,026 0 17,0RTY INSURANCE 10,260 0 10,260 10,730 0 10,730 7,030 0 7,030 6,197 0 6,1 OCCUPANCY EXPENSES 106,983 0 106,983 180,009 0 180,009 65,279 0 65,279 97,573 0 97,5EAD OPERATING EXPENSES 125,651 0 125,651 219,902 0 219,902 91,591 0 91,591 521,641 0 521,6yroll expenses 0 0 0 0 0 0 0 0 0 0 0 cupancy expenses (106,983) 0 (106,983) (180,009) 0 (180,009) (65,279) 0 (65,279) (97,573) 0 (97,5verhead 18,668 0 18,668 39,893 0 39,893 26,312 0 26,312 424,068 0 424,0

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Lakeville Woodbury Corporate MSB Total Actual Budget Variance Actual Budget Variance Actual Budget Variance Actual Budget VarianceUE TIES INCOME $165,743 $0 $165,743 $314,541 $0 $314,541 $0 $0 $0 $1,152,913 $0 $1,152,91 REVENUE 165,743 0 165,743 314,541 0 314,541 0 0 0 1,152,913 0 1,152,91TING EXPENSES LL EXPENSES 0 0 0 0 0 0 85,112 0 85,112 85,112 0 85,11H INSURANCE 0 0 0 0 0 0 7,829 0 7,829 7,829 0 7,82ARE 0 0 0 7,628 0 7,628 0 0 0 7,628 0 7,62 & ACCOUNTING 0 0 0 302 0 302 69,784 0 69,784 70,389 0 70,38MENT LEASE 0 0 0 354 0 354 0 0 0 354 0 35 ANCE 0 0 0 0 0 0 3,628 0 3,628 3,628 0 3,62 ERVICE CHARGES 42 0 42 83 0 83 467 0 467 759 0 75L EXPENSE 470 0 470 105 0 105 0 0 0 1,515 0 1,51 GE 0 0 0 0 0 0 35 0 35 35 0 3 ONE 1,437 0 1,437 9,796 0 9,796 0 0 0 14,627 0 14,62LL PROCESSING 0 0 0 0 0 0 1,350 0 1,350 1,350 0 1,35CIATION EXPENSE 18,769 0 18,769 109,310 0 109,310 0 0 0 630,871 0 630,87TIZATION EXPENSE 278 0 278 0 0 0 0 0 0 278 0 27 SOTA FRANCHISE TAX 0 0 0 0 0 0 10,400 0 10,400 10,400 0 10,40& USE TAX 166 0 166 496 0 496 0 0 0 2,006 0 2,00 ANCY EXPENSE 90,318 0 90,318 225,873 0 225,873 0 0 0 766,034 0 766,03 OPERATING EXPENSES 111,479 0 111,479 353,946 0 353,946 178,605 0 178,605 1,602,815 0 1,602,81 INCOME/EXPENSES ST INCOME 0 0 0 0 0 0 0 0 0 227 0 22 ST EXPENSE (28,103) 0 (28,103) (13,874) 0 (13,874) 0 0 0 (113,835) 0 (113,83 OTHER INCOME/EXPENSES (28,103) 0 (28,103) (13,874) 0 (13,874) 0 0 0 (113,608) 0 (113,60COME (LOSS) 26,161 0 26,161 (53,280) 0 (53,280) (178,605) 0 (178,605) (563,510) 0 (563,51

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LL RELATED EXPENSES RATE SALARIES 0 0 0 0 0 0 74,575 0 74,575 74,575 0 74,57MPLOYER MATCH 0 0 0 0 0 0 441 0 441 441 0 44 LL TAX EXPENSE 0 0 0 0 0 0 10,096 0 10,096 10,096 0 10,09 PAYROLL EXPENSES 0 0 0 0 0 0 85,112 0 85,112 85,112 0 85,11ETING EXPENSES, excluding salaries ANCY EXPENSES EES 5,658 0 5,658 36,012 0 36,012 0 0 0 70,389 0 70,38STATE TAXES 29,597 0 29,597 107,045 0 107,045 0 0 0 284,341 0 284,34 & SEWER 360 0 360 1,626 0 1,626 0 0 0 10,476 0 10,47IES 23,418 0 23,418 20,049 0 20,049 0 0 0 112,331 0 112,331,814 0 1,814 0 0 0 0 0 0 37,387 0 37,38 NG R&M 4,918 0 4,918 964 0 964 0 0 0 18,829 0 18,82ING & SUPPLIES 8,879 0 8,879 4,185 0 4,185 0 0 0 27,192 0 27,19ROTECTION 0 0 0 0 0 0 0 0 0 1,406 0 1,40 REPAIRS 2,498 0 2,498 12,757 0 12,757 0 0 0 35,459 0 35,45CAPE 0 0 0 0 0 0 0 0 0 2,787 0 2,78 G LOT R&M 0 0 0 0 0 0 0 0 0 4,585 0 4,58 E 1,156 0 1,156 2,580 0 2,580 0 0 0 13,939 0 13,93ITY 0 0 0 0 0 0 0 0 0 6,126 0 6,12 PLOWING 2,991 0 2,991 17,736 0 17,736 0 0 0 74,621 0 74,62RTY INSURANCE 9,029 0 9,029 22,919 0 22,919 0 0 0 66,165 0 66,16 OCCUPANCY EXPENSES 90,318 0 90,318 225,873 0 225,873 0 0 0 766,034 0 766,03EAD OPERATING EXPENSES 111,479 0 111,479 353,946 0 353,946 178,605 0 178,605 1,602,815 0 1,602,81yroll expenses 0 0 0 0 0 0 (85,112) 0 (85,112) (85,112) 0 (85,11cupancy expenses (90,318) 0 (90,318) (225,873) 0 (225,873) 0 0 0 (766,034) 0 (766,03verhead 21,161 0 21,161 128,073 0 128,073 93,493 0 93,493 751,669 0 751,66

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Globe Total Actual Budget Variance NUE ATING EXPENSES L & ACCOUNTING $65,235 $0 $65,235 L OPERATING EXPENSES 65,235 0 65,235 R INCOME/EXPENSES NCOME (LOSS) (65,235) 0 (65,235)

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OLL RELATED EXPENSES ETING EXPENSES, excluding salaries PANCY EXPENSES HEAD L OPERATING EXPENSES 65,235 0 65,235 Overhead 65,235 0 65,235

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