Venture Academy
- Assets
- $16.2m
- Revenue
- $7.5m
- Investments
- $0.0
- Employees
- 167
- Location
- Marriottslaterville, UT
- Founding
- 05/2008
- Data as of
- 06/2022
- EIN
- 26-0379892
Organization Overview
Venture Academy is located in Marriottslaterville, UT. The organization was established in 2008. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Venture Academy employed 167 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Venture 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 06/2022, Venture Academy generated $7.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $6.9m during the year ending 06/2022. While expenses have increased by 4.9% 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 PROVIDE INNOVATIVE AND EFFECTIVE LEARNING FOR STUDENTS AND HELP PREPARE THEM FOR LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLICLY FUNDED CHARTER SCHOOL EDUCATING UTAH CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Child Executive Director | Officer | 40 | $126,490 |
Sharmilla Felix Board Chair | OfficerTrustee | 2 | $0 |
Christel Grange-Hicks Trustee | Trustee | 0.5 | $0 |
Michelle Terry Trustee | Trustee | 0.5 | $0 |
Natalie Allgood Trustee | Trustee | 0.5 | $0 |
Randy Wilson Trustee | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,314,626 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,727 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,317,353 |
| Total Program Service Revenue | $158,516 |
| Investment income | $14,468 |
| 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 | $7,490,337 |
| 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. | $144,211 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,572,420 |
| Pension plan accruals and contributions | $181,068 |
| Other employee benefits | $603,810 |
| Payroll taxes | $288,187 |
| Fees for services: Management | $82,799 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $129,848 |
| Advertising and promotion | $5,670 |
| Office expenses | $48,191 |
| Information technology | $79,184 |
| Royalties | $0 |
| Occupancy | $355,478 |
| Travel | $941 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $408,276 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $363,356 |
| Insurance | $26,042 |
| All other expenses | $0 |
| Total functional expenses | $6,934,379 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,215,557 |
| Savings and temporary cash investments | $3,560,309 |
| Pledges and grants receivable | $342,724 |
| Accounts receivable, net | $13,015 |
| 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 | $25,350 |
| Net Land, buildings, and equipment | $11,057,230 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,214,185 |
| Accounts payable and accrued expenses | $455,166 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $6,221,048 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,151,938 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $11,828,152 |
| Net assets without donor restrictions | $3,322,881 |
| Net assets with donor restrictions | $1,063,152 |
| 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 | $16,214,185 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Venture Academy has recieved totaling $569.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $569 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Association Of Christian Schools International Colorado Springs, CO | $18,742,731 | $17,834,465 |
Horizon Community Learning Center Inc Phoenix, AZ | $18,558,731 | $15,800,218 |
Cheyenne Mountain Charter Academy Colorado Springs, CO | $6,874,430 | $14,641,481 |
Gilbert Christian Schools Inc Gilbert, AZ | $7,847,673 | $15,216,131 |
Sun Valley Community School Inc Sun Valley, ID | $39,076,653 | $16,449,416 |
Heritage Academy Inc Mesa, AZ | $18,363,649 | $13,455,385 |
Kingman Academy Of Learning Kingman, AZ | $18,472,423 | $13,887,291 |
Legacy Traditional School-Queen Creek Chandler, AZ | $20,023,143 | $11,762,909 |
Idaho Arts Charter School Nampa, ID | $27,001,838 | $12,430,623 |
Legacy Traditional School- Avondale Inc Chandler, AZ | $23,043,250 | $12,125,697 |
Pan-American Elementary Charter School Phoenix, AZ | $37,196,562 | $11,678,522 |
Compass Public Charter School Inc Meridian, ID | $30,633,815 | $11,054,812 |