Arkansas Virtual Academy
- Assets
- $4.2m
- Revenue
- $37.9m
- Investments
- $0.0
- Employees
- 219
- Location
- Little Rock, AR
- Founding
- 05/2004
- Data as of
- 06/2023
- EIN
- 43-2017445
Organization Overview
Arkansas Virtual Academy is located in Little Rock, AR. The organization was established in 2004. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2023, Arkansas Virtual Academy employed 219 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arkansas Virtual 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 06/2023, Arkansas Virtual Academy generated $37.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.5% each year . All expenses for the organization totaled $38.5m during the year ending 06/2023. While expenses have increased by 14.8% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT, GUIDE, AND ASSIST FAMILIES AND COLLEAGUES IN A POSITIVE WAY THROUGH TEAMWORK TO PROMOTE ACADEMIC GROWTH THAT LEADS TO HIGH ACHIEVEMENT FOR THE ENTIRE ARKANSAS VIRTUAL ACADEMY COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATED AN ONLINE CHARTER SCHOOL FOR GRADES K-12. DURING THE YEAR CHILDREN WERE EDUCATED IN LANGUAGE, MATH, SCIENCE, HISTORY, MUSIC, AND OTHER GRADE LEVEL APPROPRIATE COURSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Mchenry Chair | OfficerTrustee | 2 | $0 |
Jess Askew III Vice Chair | OfficerTrustee | 2 | $0 |
Paige Gorman Secretary/treasurer | OfficerTrustee | 2 | $0 |
Dana Kelly Member | Trustee | 2 | $0 |
Joel Edel Member | Trustee | 2 | $0 |
Rodney Nagel Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $37,907,143 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $37,907,143 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $37,932,459 |
| 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 | $8,599,856 |
| Pension plan accruals and contributions | $1,288,764 |
| Other employee benefits | $504,809 |
| Payroll taxes | $616,268 |
| Fees for services: Management | $3,532,362 |
| Fees for services: Legal | $5,523 |
| Fees for services: Accounting | $23,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,377,945 |
| Advertising and promotion | $0 |
| Office expenses | $289,793 |
| Information technology | $1,867,878 |
| Royalties | $0 |
| Occupancy | $101,439 |
| Travel | $133,117 |
| 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 | $0 |
| Insurance | $111,743 |
| All other expenses | $662,691 |
| Total functional expenses | $38,455,881 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,413,312 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $754,716 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,168,028 |
| Accounts payable and accrued expenses | $2,870,213 |
| 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 | $2,870,213 |
| Net assets without donor restrictions | $776,661 |
| Net assets with donor restrictions | $521,154 |
| 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 | $4,168,028 |