Venture Academy
- Assets
- $17.0m
- Revenue
- $8.4m
- Investments
- $0.0
- Employees
- 175
- Location
- Marriottslaterville, UT
- Founding
- 05/2008
- Data as of
- 06/2023
- EIN
- 26-0379892
Organization Overview
Venture Academy is located in Marriottslaterville, UT. The organization was established in 2008. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2023, Venture Academy employed 175 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Venture Academy 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, Venture Academy generated $8.4m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $7.2m during the year ending 06/2023. While expenses have increased by 5.6% per year over the past 4 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
TO PROVIDE INNOVATIVE AND EFFECTIVE LEARNING FOR STUDENTS AND HELP PREPARE THEM FOR LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLICLY FUNDED CHARTER SCHOOL EDUCATING UTAH CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharmilla Felix Board Chair | OfficerTrustee | 2 | $0 |
Kevin Wasden Trustee | Trustee | 2 | $0 |
Christel Grange-Hicks Trustee | Trustee | 2 | $0 |
Andrea Riches Trustee | Trustee | 2 | $0 |
Natalie Allgood Trustee | Trustee | 2 | $0 |
Michelle Terry Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,004,810 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,913 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,009,723 |
| Total Program Service Revenue | $259,389 |
| Investment income | $147,885 |
| 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 | $8,416,997 |
| 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. | $173,532 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,844,678 |
| Pension plan accruals and contributions | $206,848 |
| Other employee benefits | $588,200 |
| Payroll taxes | $299,564 |
| Fees for services: Management | $84,432 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,134 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $127,524 |
| Advertising and promotion | $19,497 |
| Office expenses | $25,326 |
| Information technology | $76,601 |
| Royalties | $0 |
| Occupancy | $243,287 |
| Travel | $2,871 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $394,973 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $390,641 |
| Insurance | $34,758 |
| All other expenses | $0 |
| Total functional expenses | $7,246,406 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $980,672 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $352,989 |
| Accounts receivable, net | $10,033 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,177 |
| Net Land, buildings, and equipment | $11,187,094 |
| Investments—publicly traded securities | $4,504,457 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,042,422 |
| Accounts payable and accrued expenses | $415,574 |
| Grants payable | $0 |
| Deferred revenue | $3,763 |
| Tax-exempt bond liabilities | $6,050,189 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,970,742 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $45,530 |
| Total liabilities | $11,485,798 |
| Net assets without donor restrictions | $4,515,358 |
| Net assets with donor restrictions | $1,041,266 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $17,042,422 |