Valley Arts Academy Inc
- Assets
- $9.8m
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 98
- Location
- Hurricane, UT
- Founding
- 04/2013
- Data as of
- 06/2023
- EIN
- 27-1123275
Organization Overview
Valley Arts Academy Inc is located in Hurricane, UT. The organization was established in 2013. 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, Valley Arts Academy Inc employed 98 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valley Arts Academy Inc 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, Valley Arts Academy Inc generated $5.9m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 17.5% each year . All expenses for the organization totaled $5.8m during the year ending 06/2023. While expenses have increased by 17.6% 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 A SUPERIOR ACADEMIC PROGRAM IN A SOCIAL EMOTIONAL LEARNING ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL EDUCATION PROGRAM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Miranda Kloos Chair | OfficerTrustee | 8 | $0 |
Alisha Terry-Martin Vice Chair / Secretary | OfficerTrustee | 8 | $0 |
Nicki Hill Trustee | Trustee | 8 | $0 |
Jackelyn Choto Trustee | Trustee | 8 | $0 |
Weston White Trustee | Trustee | 8 | $0 |
Ellen Ranta Olson Trustee | Trustee | 8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,797,691 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,285 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,801,976 |
| Total Program Service Revenue | $107,114 |
| Investment income | $29,773 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $8,009 |
| 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 | $5,946,872 |
| 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. | $139,242 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,971,309 |
| Pension plan accruals and contributions | $119,489 |
| Other employee benefits | $482,278 |
| Payroll taxes | $225,976 |
| Fees for services: Management | $75,132 |
| Fees for services: Legal | $3,533 |
| Fees for services: Accounting | $19,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $64,684 |
| Advertising and promotion | $16,914 |
| Office expenses | $37,044 |
| Information technology | $253,562 |
| Royalties | $0 |
| Occupancy | $237,730 |
| Travel | $123,343 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $206,750 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $327,074 |
| Insurance | $15,320 |
| All other expenses | $18,403 |
| Total functional expenses | $5,791,362 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,078,221 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $511,197 |
| Accounts receivable, net | $13,509 |
| 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 | $12,603 |
| Net Land, buildings, and equipment | $6,416,360 |
| Investments—publicly traded securities | $1,783,436 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,815,326 |
| Accounts payable and accrued expenses | $1,765,304 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $6,100,865 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $66,146 |
| Total liabilities | $7,932,315 |
| Net assets without donor restrictions | $1,502,255 |
| Net assets with donor restrictions | $380,756 |
| 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 | $9,815,326 |