Virtual Learning Academy Charter School
- Assets
- $4.4m
- Revenue
- $12.0m
- Investments
- $0.0
- Employees
- 364
- Location
- Exeter, NH
- Founding
- 03/2009
- Data as of
- 06/2022
- EIN
- 56-2668724
Organization Overview
Virtual Learning Academy Charter School is located in Exeter, NH. The organization was established in 2009. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Virtual Learning Academy Charter School employed 364 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virtual Learning 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 06/2022, Virtual Learning Academy Charter School generated $12.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.7% each year. All expenses for the organization totaled $13.1m during the year ending 06/2022. While expenses have increased by 10.3% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE A NEW HAMPSHIRE PUBLIC CHARTER SCHOOL IN ACCORDANCE WITH CHAPTER 194B OF THE NH RSA AND TO PROVIDE OTHER EDUCATIONAL OPPORTUNITIES USING NEW AND DISTANCE LEARNING TECHNOLOGIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATED A STATE CHARTER SCHOOL WHEREBY THE SCHOOL:(A) USED NEW AND EMERGING DISTANCE LEARNING TECHNOLOGY TO PROVIDE ANY TIME ANY PLACE ACCESS TO A RIGOROUS PERSONALIZED EDUCATION THAT HELPED STUDENTS LEARN TODAY. GRADUATE TOMORROW AND PREPARE FOR THE FUTURE:(B) PROVIDED ALL STUDENTS WITH THE OPPORTUNITY TO PERSONALIZE THEIR EDUCATION BY COMBINING RIGOROUS ACEDEMIC STUDY WITH THE FLEXIBILITY THAT IS INHERIRNT IN THE ANY TIME AND ANY PLACE PHILOSOPHY: AND (C) MET THE NEED OF A WIDE VARIETY OF STUDENTS AND FOSTERED 21ST CENTURY SKILLS SUCH AS GLOBAL AWARENESS, SELF-DIRECTED LEARNING SKILLS, INFORMATION AND COMMUNICATIONS TECHNOLOGY, LITERACY , PROBLEM SOLVING SKILLS, TIME MANAGEMENT AND PERSONAL RESPONSIBILITY. STUDENTS ALSO HAD EDUCATIONAL OPTIONSINCLUDING LEARNING THOUGH EXPERIENCE, PROJECTS, TEAMS AND ADULT EDUCATION OPTIONS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Koosakoski CEO | Officer | 40 | $165,737 |
Anthony Baldasaro Chief Operating Officer | Officer | 40 | $111,545 |
Wildolfo Arvelo Member | Trustee | 1 | $0 |
Dr Kent Chamberlin Chair | Trustee | 1 | $0 |
Kimberly Casey Vice Chair | Trustee | 1 | $0 |
Jessica Lyons Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $11,833,175 |
| All other contributions, gifts, grants, and similar amounts not included above | $34,230 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,867,405 |
| Total Program Service Revenue | $162,067 |
| Investment income | $2,651 |
| 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 | $12,032,123 |
| 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. | $138,916 |
| Compensation of current officers, directors, key employees. | $69,458 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,739,470 |
| Pension plan accruals and contributions | $884,579 |
| Other employee benefits | $521,698 |
| Payroll taxes | $678,922 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,707 |
| Fees for services: Accounting | $12,235 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $144,610 |
| Office expenses | $52,964 |
| Information technology | $720,784 |
| Royalties | $0 |
| Occupancy | $35,566 |
| Travel | $2,500 |
| 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 | $25,087 |
| Insurance | $25,753 |
| All other expenses | $0 |
| Total functional expenses | $13,125,345 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $860,948 |
| Savings and temporary cash investments | $1,534,761 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,506,756 |
| 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 | $360,443 |
| Net Land, buildings, and equipment | $101,457 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,364,365 |
| Accounts payable and accrued expenses | $623,947 |
| 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 | $623,947 |
| Net assets without donor restrictions | $3,740,418 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $4,364,365 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Virtual Learning Academy Charter School has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
Nellie Mae Education Foundation Inc Quincy, MA PURPOSE: STRATEGIC PROJECTS | $40,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Virtual Learning Academy Charter School Exeter, NH | $4,364,365 | $12,032,123 |
Maine Technology Institute Brunswick, ME | $20,192,850 | $10,752,801 |
Baxter Academies Of Maine Portland, ME | $5,059,959 | $5,291,894 |
Acadia Academy Lewiston, ME | $2,946,012 | $4,193,660 |
Harpswell Coastal Academy Inc Harpswell, ME | $1,328,759 | $3,434,927 |
Fiddlehead School Gray, ME | $2,450,740 | $2,123,993 |
Great Bay Elearning Charter School Exeter, NH | $1,221,712 | $1,886,991 |
Kreiva Academy Public Charter School Manchester, NH | $870,753 | $1,875,543 |
Compass Classical Academy Tilton, NH | $1,304,816 | $1,309,060 |
Next Charter School Derry, NH | $1,803,956 | $1,664,118 |
Making Community Connections Charter School Amherst, NH | $443,439 | $1,365,054 |
Gate City Charter School For The Arts Merrimack, NH | $402,137 | $1,441,405 |