Varnett Schools Inc is located in Houston, TX. The organization was established in 1997. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 08/2021, Varnett Schools Inc employed 216 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Varnett Schools 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 08/2021, Varnett Schools Inc generated $16.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $17.0m during the year ending 08/2021. While expenses have increased by 2.6% 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
THE MISSION OF THE VARNETT PUBLIC SCHOOL IS TO PROVIDE A RIGOROUS ACADEMIC PROGRAM WHICH MEETS THE NEEDS OF OUR DIVERSE POPULATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SCHOOL PROVIDES AN ALTERNATIVE PUBLIC SCHOOL TO CHILDREN, SERVING MOSTLY MINORITY STUDENTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Margaret Stroud Superintendent | 40 | $222,363 | |
Sandra Smith Chief Financial Officer | 40 | $176,463 | |
Jeffrey Siler Technology Director | 40 | $112,002 | |
Terrell Russell General Manager Fmot | 40 | $108,842 | |
Dr Matthew Plummer President | OfficerTrustee | 10 | $0 |
Clarence White III Secretary | OfficerTrustee | 10 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
12707 Cullen Llc Lease - Building | 8/30/21 | $614,372 |
Scholastic Solutions Llc Finance Services | 8/30/21 | $373,900 |
Maxi Realty Corp Lease - Building | 8/30/21 | $318,391 |
Education Service Center Region 4 Support Services | 8/30/21 | $179,457 |
1st Response Security Security Services | 8/30/21 | $219,729 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $16,131,674 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $75,585 |
Total Revenue from Contributions, Gifts, Grants & Similar | $16,131,674 |
Total Program Service Revenue | $96,645 |
Investment income | $111,857 |
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 | $16,355,176 |
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 | $9,724,220 |
Pension plan accruals and contributions | $439,900 |
Other employee benefits | $786,794 |
Payroll taxes | $203,946 |
Fees for services: Management | $0 |
Fees for services: Legal | $117,769 |
Fees for services: Accounting | $57,200 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $2,024,365 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $1,464,193 |
Travel | $1,613 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $70,733 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $551,828 |
Insurance | $159,729 |
All other expenses | $0 |
Total functional expenses | $16,951,212 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $9,046,525 |
Savings and temporary cash investments | $8,301,300 |
Pledges and grants receivable | $264,721 |
Accounts receivable, net | $25,743 |
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 | $7,992,290 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $25,630,579 |
Accounts payable and accrued expenses | $738,617 |
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 | $4,417,751 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $342,816 |
Total liabilities | $5,499,184 |
Net assets without donor restrictions | $13,373,474 |
Net assets with donor restrictions | $6,757,921 |
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 | $25,630,579 |
Over the last fiscal year, we have identified 1 grants that Varnett Schools Inc has recieved totaling $80,000.
Awarding Organization | Amount |
---|---|
Communities Foundation Of Texas Dallas, TX PURPOSE: THIS GRANT IS DESIGNATED FOR GENERAL SUPPORT. | $80,000 |
Organization Name | Assets | Revenue |
---|---|---|
Trinity Christian Academy Addison, TX | $65,459,089 | $30,244,253 |
St Andrews Episcopal School Inc Austin, TX | $93,484,492 | $28,935,515 |
Community School For Apprenticeship Learning Inc Baton Rouge, LA | $35,523,575 | $32,794,554 |
Metairie Park Country Day School Metairie, LA | $48,222,871 | $23,246,338 |
Idea Public Schools Louisiana Inc Baton Rouge, LA | $5,073,579 | $25,941,968 |
Community Academies Of New Orleans Inc New Orleans, LA | $3,607,282 | $19,811,905 |
Varnett Schools Inc Houston, TX | $25,630,579 | $16,355,176 |
The Emery-Weiner Center For Jewish Education Houston, TX | $36,882,077 | $18,976,630 |
Sandia School Albuquerque, NM | $27,571,490 | $14,904,182 |
French & Montessori Education Inc New Orleans, LA | $8,632,060 | $13,354,447 |
Fort Bend Christian Academy Sugar Land, TX | $31,881,778 | $16,006,683 |
The Lamplighter School Dallas, TX | $61,812,607 | $20,667,782 |