Valley Forge Military Academy Foundation
- Assets
- $40.5m
- Revenue
- $14.1m
- Investments
- $0.0
- Employees
- 98
- Location
- Wayne, PA
- Founding
- 09/1946
- Data as of
- 06/2021
- 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 06/2021, Valley Forge Military Academy Foundation employed 98 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 06/2021, Valley Forge Military Academy Foundation generated $14.1m 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 (12.5%) each year. All expenses for the organization totaled $17.9m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (8.4%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL INSTITUTION 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 231 STUDENTS DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Col Stuart Helgeson President | Officer | 40 | $164,915 |
Vincent J Vuono CPA Chief Financial Officer(until 9/20) | Officer | 40 | $160,000 |
Paul Lea Dean Of Academy | 40 | $103,069 | |
Eric Saul Chief Financial Officer | Officer | 40 | $67,308 |
Robert A Bacine ESQ Vice Chair | OfficerTrustee | 1 | $0 |
John English Chairman | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mcdonnell Contractors Inc Construction | 6/29/21 | $305,620 |
Sodexo Inc Food Svc/uniforms | 6/29/21 | $511,232 |
Lintons Food Service Management Food Svc/uniforms | 6/29/21 | $1,398,919 |
Main Line Janitorial Service Inc Custodial | 6/29/21 | $1,340,618 |
Riley Riper Hollin & Colagreco Legal Services | 6/29/21 | $346,331 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $61,000 |
| Related organizations | $0 |
| Government grants | $114,348 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,429,677 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,605,025 |
| Total Program Service Revenue | $11,919,600 |
| Investment income | $190,158 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,785 |
| Net Gain/Loss on Asset Sales | $94,100 |
| Net Income from Fundraising Events | $12,133 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,074,781 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,491,038 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $470,849 |
| Compensation of current officers, directors, key employees. | $470,849 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,245,239 |
| Pension plan accruals and contributions | $45,812 |
| Other employee benefits | $554,190 |
| Payroll taxes | $317,207 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $686,468 |
| Fees for services: Accounting | $105,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $41,447 |
| Fees for services: Other | $976,587 |
| Advertising and promotion | $141,873 |
| Office expenses | $1,059,840 |
| Information technology | $46,364 |
| Royalties | $0 |
| Occupancy | $1,318,374 |
| Travel | $23,627 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $228,457 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,167,938 |
| Insurance | $0 |
| All other expenses | $189,637 |
| Total functional expenses | $17,905,926 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $520 |
| Savings and temporary cash investments | $1,373,147 |
| Pledges and grants receivable | $389,364 |
| Accounts receivable, net | $180,008 |
| 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 | $684,929 |
| Net Land, buildings, and equipment | $14,661,168 |
| Investments—publicly traded securities | $11,042,277 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,074,127 |
| Total assets | $40,487,283 |
| Accounts payable and accrued expenses | $1,646,718 |
| Grants payable | $0 |
| Deferred revenue | $1,200,655 |
| 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 | $3,408,656 |
| Other liabilities | $0 |
| Total liabilities | $9,151,772 |
| Net assets without donor restrictions | $5,627,463 |
| Net assets with donor restrictions | $25,708,048 |
| 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 | $40,487,283 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Valley Forge Military Academy Foundation has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
Goodman Foundation Bridgewater, CT PURPOSE: CHARITABLE | $2,500 |
Endowment Analysis
| Beg. Balance | $11,258,900 |
| Earnings | $1,839,650 |
| Net Contributions | $34,235 |
| Other Expense | $314,275 |
| Grants | $683,300 |
| Ending Balance | $12,135,210 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Hill School Pottstown, PA | $339,549,890 | $89,638,080 |
Regents Of The Mercersburg College Mercersburg, PA | $535,140,744 | $49,172,082 |
Gilman School Inc Baltimore, MD | $238,892,271 | $38,036,593 |
Blair Academy Blairstown, NJ | $256,075,147 | $54,316,334 |
Holton-Arms School Inc Bethesda, MD | $133,918,121 | $38,119,997 |
Western Reserve Academy Hudson, OH | $203,998,204 | $58,141,913 |
The Seven Hills Schools Cincinnati, OH | $111,206,150 | $34,365,521 |
Morristown-Beard School Morristown, NJ | $71,175,267 | $35,071,625 |
Pennington School Pennington, NJ | $95,126,184 | $33,377,887 |
St Andrews Episcopal School Inc Potomac, MD | $83,174,031 | $30,817,454 |
St Andrews School Of Delaware Inc Middletown, DE | $398,873,444 | $32,788,416 |
Malvern Preparatory School Malvern, PA | $76,971,760 | $36,046,304 |