Arkansas Virtual Academy
- Assets
- $3.1m
- Revenue
- $27.7m
- Investments
- $0.0
- Employees
- 175
- Location
- Little Rock, AR
- Founding
- 05/2004
- Data as of
- 06/2021
- EIN
- 43-2017445
Organization Overview
Arkansas Virtual Academy is located in Little Rock, AR. The organization was established in 2004. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2021, Arkansas Virtual Academy employed 175 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arkansas Virtual 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 06/2021, Arkansas Virtual Academy generated $27.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.7% each year . All expenses for the organization totaled $27.2m during the year ending 06/2021. While expenses have increased by 13.4% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT, GUIDE, AND ASSIST FAMILIES AND COLLEAGUES IN A POSITIVE WAY THROUGH TEAMWORK TO PROMOTE ACADEMIC GROWTH THAT LEADS TO HIGH ACHIEVEMENT FOR THE ENTIRE ARKANSAS VIRTUAL ACADEMY COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATED AN ONLINE CHARTER SCHOOL FOR GRADES K-12. DURING THE YEAR CHILDREN WERE EDUCATED IN LANGUAGE, MATH, SCIENCE, HISTORY, MUSIC, AND OTHER GRADE LEVEL APPROPRIATE COURSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jess Askew III Vice Chair | OfficerTrustee | 2 | $0 |
Paige Gorman Secretary/treasurer | OfficerTrustee | 2 | $0 |
Gary Mchenry Chair | OfficerTrustee | 2 | $0 |
Dana Kelly Member | Trustee | 2 | $0 |
Rodney Nagel Member | Trustee | 2 | $0 |
Joel Edel Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $27,721,037 |
| 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 | $27,721,037 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $27,721,037 |
| 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 | $6,795,820 |
| Pension plan accruals and contributions | $956,900 |
| Other employee benefits | $311,398 |
| Payroll taxes | $475,381 |
| Fees for services: Management | $600,916 |
| Fees for services: Legal | $13,778 |
| Fees for services: Accounting | $26,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,269,981 |
| Advertising and promotion | $0 |
| Office expenses | $241,664 |
| Information technology | $254,011 |
| Royalties | $0 |
| Occupancy | $96,460 |
| Travel | $23,044 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $73,387 |
| All other expenses | $274,413 |
| Total functional expenses | $27,191,092 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,900,359 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $174,800 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,075,159 |
| Accounts payable and accrued expenses | $1,776,518 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,776,518 |
| Net assets without donor restrictions | $776,661 |
| Net assets with donor restrictions | $521,980 |
| 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 | $3,075,159 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Arkansas Virtual Academy has recieved totaling $132,006.
| Awarding Organization | Amount |
|---|---|
Environmental And Spatial Technology Inc Little Rock, AR PURPOSE: TECHNOLOGY PROJECT | $131,693 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $313 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Riverwalk Education Foundation Inc Leon Valley, TX | $396,093,988 | $109,250,212 |
Kipp New Orleans Inc New Orleans, LA | $40,708,301 | $82,308,367 |
Jubilee Academic Center Inc San Antonio, TX | $137,938,000 | $77,234,033 |
Collegiate Academies New Orleans, LA | $15,386,568 | $45,139,366 |
Renew-Reinventing Education New Orleans, LA | $11,254,190 | $34,978,044 |
Lead Public Schools Inc Nashville, TN | $24,033,254 | $42,742,487 |
Kipp Nashville Nashville, TN | $80,824,528 | $47,985,945 |
Foundation For Louisiana Students Baton Rouge, LA | $21,702,876 | $38,265,312 |
East Texas Advanced Academies Longview, TX | $2,379,457 | $32,700,344 |
Basis Texas Charter Schools Inc San Antonio, TX | $92,451,409 | $31,933,223 |
Dove Schools Oklahoma City, OK | $6,243,861 | $28,048,630 |
Discovery Health Sciences Foundation Inc Kenner, LA | $11,194,982 | $30,168,997 |