Valley Forge Military Academy Foundation
- Assets
- $38.6m
- Revenue
- $16.9m
- Investments
- $0.0
- Employees
- 156
- Location
- Wayne, PA
- Founding
- 09/1946
- Data as of
- 06/2022
- EIN
- 23-1178880
Organization Overview
Valley Forge Military Academy Foundation is located in Wayne, PA. The organization was established in 1946. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2022, Valley Forge Military Academy Foundation employed 156 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valley Forge Military Academy Foundation 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, Valley Forge Military Academy Foundation generated $16.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (8.5%) each year. All expenses for the organization totaled $18.5m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (6.7%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL INSTITUTI0N FOCUSED ON BUILDING LEADERSHIP THROUGH A MILITARY ENVIRONMENT .
Describe the Organization's Program Activity:
VALLEY FORGE PROVIDES CADETS WITH AN EDUCATIONAL EXPERIENCE BUILT ON OUR FIVE CORNERSTONES: ACADEMIC EXCELLENCE, CHARACTER DEVELOPMENT, PERSONAL MOTIVATION, PHYSICAL DEVELOPMENT, AND LEADERSHIP. A VALLEY FORGE EDUCATION IS ROOTED IN QUALITY ACADEMIC PROGRAMS SUPPORTED BY LEADERSHIP RESPONSIBILITIES AND STRONG ATHLETIC AND EXTRACURRICULAR OPPORTUNITIES. THE SCHOOL HOSTED 225 STUDENTS DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Col Stuart Helgeson President | Officer | 40 | $164,727 |
Paul Lea Dean Of Academy | 40 | $118,238 | |
Eric Saul Chief Financial Officer | Officer | 40 | $119,673 |
Julian Rivera Chief Of Staff | 40 | $105,529 | |
John English Chairman | Trustee | 1 | $0 |
Robert A Bacine ESQ Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Keystone Sports Construction Construction | 6/29/22 | $945,901 |
Powers Pyles Sutter & Verville Pc Legal Services | 6/29/22 | $690,992 |
Whitson's Culinary Group Food Service | 6/29/22 | $668,284 |
Glenveagh Construction Construction | 6/29/22 | $431,369 |
Main Line Janitorial Service Inc Custodial | 6/29/22 | $312,533 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $77,100 |
| Related organizations | $0 |
| Government grants | $3,393,260 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,560,508 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,030,868 |
| Total Program Service Revenue | $11,025,122 |
| Investment income | $148,932 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,732 |
| Net Gain/Loss on Asset Sales | $390,155 |
| Net Income from Fundraising Events | $5,488 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,888,821 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,187,990 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $355,998 |
| Compensation of current officers, directors, key employees. | $355,998 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,612,146 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $504,827 |
| Payroll taxes | $395,394 |
| Fees for services: Management | $144,326 |
| Fees for services: Legal | $1,264,842 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $34,044 |
| Fees for services: Other | $1,568,421 |
| Advertising and promotion | $46,404 |
| Office expenses | $576,585 |
| Information technology | $74,030 |
| Royalties | $0 |
| Occupancy | $735,994 |
| Travel | $42,851 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $163,436 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,250,435 |
| Insurance | $1,447,638 |
| All other expenses | $117,294 |
| Total functional expenses | $18,506,570 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,486,180 |
| Pledges and grants receivable | $181,878 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $81,743 |
| Prepaid expenses and deferred charges | $800,692 |
| Net Land, buildings, and equipment | $16,003,877 |
| Investments—publicly traded securities | $9,105,887 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,918,244 |
| Total assets | $38,578,501 |
| Accounts payable and accrued expenses | $4,131,874 |
| Grants payable | $0 |
| Deferred revenue | $4,161,936 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $900,000 |
| Secured mortgages and notes payable | $1,995,743 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,944 |
| Total liabilities | $11,197,497 |
| Net assets without donor restrictions | $4,187,443 |
| Net assets with donor restrictions | $23,193,561 |
| 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 | $38,578,501 |