Varnett Schools Inc
- Assets
- $27.2m
- Revenue
- $18.2m
- Investments
- $0.0
- Employees
- 200
- Location
- Houston, TX
- Founding
- 07/1997
- Data as of
- 08/2023
- EIN
- 76-0297121
Organization Overview
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 08/2023, Varnett Schools Inc employed 200 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 08/2023, Varnett Schools Inc generated $18.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $18.0m during the year ending 08/2023. While expenses have increased by 2.8% 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
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Antoy Bell Board Member | Trustee | 1 | $0 |
Malaki Sims Board Member | Trustee | 1 | $0 |
Sara Donatto Board Member | Trustee | 1 | $0 |
Cynthia Humphrey Board Member | Trustee | 1 | $0 |
Dr Matthew Plummer President | OfficerTrustee | 10 | $0 |
Dr Edgardo Colon Treasurer | OfficerTrustee | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Math-a-matics Tutoring Llc Tutoring And Substitute Teacherrs | 8/30/23 | $942,389 |
Emc Ed Group Llc Tutoring | 8/30/23 | $508,825 |
Scholastic Solutions Llc Back Office Support | 8/30/23 | $338,300 |
1st Response Security Armed And Unarmed Security | 8/30/23 | $222,096 |
Maxi Realty Corp Operating Lease | 8/30/23 | $322,700 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $17,826,910 |
| All other contributions, gifts, grants, and similar amounts not included above | $40,000 |
| Noncash contributions included in lines 1a–1f | $163,159 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,866,910 |
| Total Program Service Revenue | $120,809 |
| Investment income | $209,115 |
| 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 | $18,212,008 |
| 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. | $407,427 |
| Compensation of current officers, directors, key employees. | $324,067 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,809,132 |
| Pension plan accruals and contributions | $590,242 |
| Other employee benefits | $697,518 |
| Payroll taxes | $184,469 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $85,465 |
| Fees for services: Accounting | $60,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,757,870 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $695,979 |
| Travel | $66,687 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $49,645 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $564,427 |
| Insurance | $178,547 |
| All other expenses | $0 |
| Total functional expenses | $18,015,707 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,653,710 |
| Savings and temporary cash investments | $12,413,175 |
| Pledges and grants receivable | $2,072,049 |
| Accounts receivable, net | $15,428 |
| 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 | $7,429,707 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $634,314 |
| Total assets | $27,218,383 |
| Accounts payable and accrued expenses | $451,856 |
| 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 | $2,078,687 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,040,952 |
| Total liabilities | $3,571,495 |
| Net assets without donor restrictions | $14,275,236 |
| Net assets with donor restrictions | $9,371,652 |
| 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 | $27,218,383 |