Lehigh Valley Academy Charter School
- Assets
- $95.3m
- Revenue
- $37.5m
- Investments
- $0.0
- Employees
- 378
- Location
- Bethlehem, PA
- Founding
- 04/2002
- Data as of
- 06/2023
- EIN
- 23-3066539
Organization Overview
Lehigh Valley Academy Charter School is located in Bethlehem, PA. The organization was established in 2002. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2023, Lehigh Valley Academy Charter School employed 378 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lehigh Valley Academy Charter School is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Lehigh Valley Academy Charter School generated $37.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $36.5m during the year ending 06/2023. While expenses have increased by 7.8% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE LEHIGH VALLEY ACADEMY REGIONAL CHARTER SCHOOL, A FULLY AUTHORIZED, DYNAMIC K-12 IB WORLD SCHOOL, IS TO EDUCATE ALL STUDENTS THROUGH BEST LEARNING PRACTICES AND INNOVATIVE TEACHING STRATEGIES TO BE RESPONSIBLE CONTRIBUTORS IN THE COMMUNITY AND SUCCESSFUL IN A 21ST CENTURY GLOBAL ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVISION OF KINDERGARTEN THROUGH GRADE 12 PUBLIC EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Isabelle Ambrose Member | Trustee | $0 | |
John D'aquila Member | Trustee | $0 | |
Joanna Ireland Member | Trustee | $0 | |
Martin F Smith Jr President | OfficerTrustee | $0 | |
Jennifer Kennedy Treasurer | Trustee | $0 | |
Stephen Mcfarlane Secretary | Trustee | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Perfection Building Maintenance Cleaning & Main | 6/29/15 | $149,941 |
Therapy Source Inc Therapy | 6/29/15 | $113,540 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,037,524 |
| All other contributions, gifts, grants, and similar amounts not included above | $14,826 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,052,350 |
| Total Program Service Revenue | $29,104,881 |
| Investment income | $1,216,082 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,532,049 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,962,291 |
| Pension plan accruals and contributions | $729,490 |
| Other employee benefits | $3,125,039 |
| Payroll taxes | $1,158,001 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,907,850 |
| Advertising and promotion | $11,382 |
| Office expenses | $23,188 |
| Information technology | $638,353 |
| Royalties | $0 |
| Occupancy | $4,632,664 |
| Travel | $536,781 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,474,859 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $235,215 |
| Insurance | $265,715 |
| All other expenses | $92,739 |
| Total functional expenses | $36,500,795 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $193 |
| Savings and temporary cash investments | $32,700,806 |
| Pledges and grants receivable | $559,881 |
| Accounts receivable, net | $3,129,933 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,023 |
| Prepaid expenses and deferred charges | $2,739,206 |
| Net Land, buildings, and equipment | $56,184,831 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $95,315,873 |
| Accounts payable and accrued expenses | $5,171,703 |
| Grants payable | $0 |
| Deferred revenue | $1,149,685 |
| Tax-exempt bond liabilities | $68,325,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,082,376 |
| Total liabilities | $95,728,764 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $2,109,554 |
| Retained earnings, endowment, accumulated income, or other funds | -$2,522,445 |
| Total liabilities and net assets/fund balances | $95,315,873 |