South Carolina Virtual Charter School
- Assets
- $32.5m
- Revenue
- $30.8m
- Investments
- $0.0
- Employees
- 206
- Location
- West Columbia, SC
- Founding
- 10/2010
- Data as of
- 06/2023
- EIN
- 26-1966189
Organization Overview
South Carolina Virtual Charter School is located in West Columbia, SC. The organization was established in 2010. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2023, South Carolina Virtual Charter School employed 206 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Carolina Virtual 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, South Carolina Virtual Charter School generated $30.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $23.1m during the year ending 06/2023. 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
SOUTH CAROLINA VIRTUAL CHARTER SCHOOL EXISTS TO OFFER SC STUDENTS IN GRADES K-12 AN EXCEPTIONAL LEARNING EXPERIENCE WITH INDIVIDUALIZED LEARNING PLANS TO PROVIDE STUDENTS THE TOOLS NEEDED TO SUCCEED IN SCHOOL AND BEYOND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SOUTH CAROLINA VIRTUAL CHARTER SCHOOL IS A STATEWIDE PUBLIC CHARTER SCHOOL SERVING STUDENTS IN GRADES KINDERGARTEN THROUGH 12TH GRADE. THE SCHOOL HAS THE SAME RESPONSIBILITIES AND OBLIGATIONS AS ANY OTHER CHARTER SCHOOLS IN THE STATE INCLUDING PROVIDING STATE-APPROVED STANDARDS-BASED CURRICULUM, MONITORING ATTENDANCE AND TRUANCY, AND ADMINISTERING REQUIRED STANDARDIZED TESTING. HOWEVER, ANY STUDENT RESIDING IN THE STATE MAY ATTEND THE SCHOOL, AND THESE STUDENTS ATTEND SCHOOL REMOTELY. DURING FY23, AVERAGE ENROLLMENT WAS 3,076 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Cherry Daniel Head Of Scho | Officer | 37.5 | $182,770 |
Anita Latham Dep. Head Of | 37.5 | $147,073 | |
Tori Smith Finance Dire | Officer | 37.5 | $113,102 |
Courtney Suber Chair | OfficerTrustee | 0.5 | $1,829 |
Vickie Wiseman Vice Chair | OfficerTrustee | 0.5 | $350 |
Til Morisey Treasurer/se | OfficerTrustee | 0.5 | $955 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
K12 Management Inc Mgmt/curriculum | 6/29/22 | $15,440,431 |
Cantey Technology It Support | 6/29/22 | $794,304 |
Cantey Edu Llc It Support | 6/29/22 | $187,848 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $30,141,347 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,141,347 |
| Total Program Service Revenue | $105,446 |
| Investment income | $525,630 |
| 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 | $30,772,423 |
| 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. | $385,928 |
| Compensation of current officers, directors, key employees. | $385,928 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,451,686 |
| Pension plan accruals and contributions | $2,593,561 |
| Other employee benefits | $1,551,525 |
| Payroll taxes | $945,979 |
| Fees for services: Management | $599,327 |
| Fees for services: Legal | $17,897 |
| Fees for services: Accounting | $40,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $48,297 |
| Advertising and promotion | $331,566 |
| Office expenses | $38,642 |
| Information technology | $1,952,965 |
| Royalties | $0 |
| Occupancy | $273,311 |
| Travel | $323,872 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $29,935 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $483,455 |
| Insurance | $139,196 |
| All other expenses | -$11,045 |
| Total functional expenses | $23,072,350 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $147,251 |
| Savings and temporary cash investments | $8,977,718 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $32,188 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $11,597,952 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $899,850 |
| Other assets | $10,881,268 |
| Total assets | $32,536,227 |
| Accounts payable and accrued expenses | $1,922,587 |
| Grants payable | $0 |
| Deferred revenue | $205,500 |
| Tax-exempt bond liabilities | $0 |
| 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 | $40,658,197 |
| Total liabilities | $42,786,284 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | -$10,250,057 |
| Total liabilities and net assets/fund balances | $32,536,227 |