Civic Intelligence

Valley Arts Academy Inc.

990 • Fiscal year 2022 • EIN 27-1123275

Jul 01, 2021 to Jun 30, 2022 • Filed on Feb 24, 2023

Organization ProfileVALLEYACADEMYCHARTER.COM
539 N 870 WHurricane, UT 84737

(435) 635-7815

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

89th percentile

0.79x

Higher debt load relative to assets than 89% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

86th percentile

1.25x

Higher debt load relative to revenue than 86% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

55th percentile

9.2%

Higher net margin than 55% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

43rd percentile

$107,475

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

59th percentile

4.2%

Faster asset growth than 59% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

59th percentile

11%

Faster revenue growth than 59% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets89th percentile

Assets

Up

$8,243,014

Up $328,699 (+4.2%) from 2021

Net Assets

Up

$1,727,501

Up $478,798 (+38%) from 2021

Liabilities

Down

$6,515,513

Down $150,099 (-2.3%) from 2021

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin55th percentile

Revenue

Up

$5,204,583

Up $498,513 (+11%) from 2021

Expenses

Up

$4,725,785

Up $441,173 (+10%) from 2021

Net Income

Up

$478,798

Up $57,340 (+14%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth59th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$15M$10M$5.0M$0Assets 2021: $7,914,315Liabilities 2021: $6,665,612Net Assets 2021: $1,248,7032021Assets 2022: $8,243,014Liabilities 2022: $6,515,513Net Assets 2022: $1,727,5012022Assets 2023: $9,815,326Liabilities 2023: $7,932,315Net Assets 2023: $1,883,0112023Assets 2024: $10,021,221Liabilities 2024: $7,817,082Net Assets 2024: $2,204,1392024Assets 2025: $15,835,357Liabilities 2025: $13,125,203Net Assets 2025: $2,710,1542025

Highlighted filing

2022

Assets$8,243,014
Liabilities$6,515,513
Net Assets$1,727,501
Open 2022 Filing

Operations Trend

Revenue Growth59th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0Revenue 2021: $4,706,070Expenses 2021: $4,284,612Net Income 2021: $421,4582021Revenue 2022: $5,204,583Expenses 2022: $4,725,785Net Income 2022: $478,7982022Revenue 2023: $5,946,872Expenses 2023: $5,791,362Net Income 2023: $155,5102023Revenue 2024: $6,818,626Expenses 2024: $6,497,498Net Income 2024: $321,1282024Revenue 2025: $7,724,175Expenses 2025: $7,218,160Net Income 2025: $506,0152025

Highlighted filing

2022

Revenue$5,204,583
Expenses$4,725,785
Net Income$478,798
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Feb 24, 2023
Return Version
2021v4.2
Gross Receipts
$5,204,583
Mission and Program Overview

Mission

The mission of valley academy is to provide a superior academic program enhanced by integration training in fine and performing arts and a technologically advanced curriculum in a social emotional learning environment that promotes responsible freedom.

To provide a superior academic program in a social emotional learning environment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,470,036$6,405,301▼ $64,735
Cash and Non-Interest-Bearing Accounts$912,935$1,181,743▲ $268,808
Investments in Publicly Traded Securities-$353,666-
Savings and Temporary Cash Investments$351,906--
Pledges and Grants Receivable-$284,424-
Accounts Receivable$173,275$11,594▼ $161,681
Prepaid Expenses and Deferred Charges$6,163$6,286▲ $123
Total Assets$7,914,315$8,243,014▲ $328,699
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,423,399$6,264,480▼ $158,919
Accounts Payable and Accrued Expenses$242,213$251,033▲ $8,820
Total Liabilities$6,665,612$6,515,513▼ $150,099
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$943,124$1,357,223▲ $414,099
Net Assets With Donor Restrictions$305,579$370,278▲ $64,699
Total Net Assets Fund Balance$1,248,703$1,727,501▲ $478,798
Total Liabilities and Net Assets / Fund Balance$7,914,315$8,243,014▲ $328,699

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,548,716$920,664$6,469,380
Land$582,000-$582,000
Equipment$187,336$147,563$334,899
Leasehold Improvements$87,249$64,280$151,529
Compensation and Service Providers
Top Officer Pay43rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Tracy StevensDirectorFT$107,475$107,475

Board Members and Trustees

NameTitle
Miranda KloosChair
Alisha Terry-martinVice Chair / Secretary
Buffy NelsonTrustee
Jackelyn ChotoTrustee
Ncki HillTrustee
Weston WhiteTrustee
Michael PalfreymanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$5,141,797
Program Service Revenue
$53,142
Investment Income
$1,761
Other Revenue
$7,883
All Other Contributions
$3,692
Change in Net Assets
$478,798

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,204,583
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$5,204,583
Total Revenue per Form 990
$5,204,583
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,318,539
Other Expenses$1,407,246
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,463,719--$2,463,719
Other Employee Benefits$453,918--$453,918
Depreciation Depletion$234,100--$234,100
Occupancy$225,322--$225,322
Interest$208,271--$208,271
Payroll Taxes$185,494--$185,494
Current Officers, Directors, Trustees, and Key Employees$116,630--$116,630
Pension Plan Contributions$98,778--$98,778
Fees for Services Management-$73,656-$73,656
Fees for Services Other$67,481--$67,481
Travel$66,194--$66,194
Office Expenses$45,709--$45,709
Information Technology$38,511--$38,511
Other Expenses$14,478--$14,478
Insurance-$14,174-$14,174
Fees for Services Accounting-$13,200-$13,200
Advertising-$10,208-$10,208
Fees for Services Legal-$7,193-$7,193
Total Functional Expenses$4,607,354$118,431$0$4,725,785

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,725,785
Total Expenses per Audited Statements$4,725,785
Total Expenses per Form 990$4,725,785
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 1A

“The board of directors has delegated broad authority of the organization to the executive committee while the board is in between board meetings.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is provided to the board of directors prior to filing. At the next board meeting, the form 990 is discussed and approved by the board.”

Form 990, Part VI, Section B, Line 12C

“Monitored by the executive director and board annually.”

Form 990, Part VI, Section B, Line 15A

“The director's compensation is based on approved pay scales which are reviewed annually by the board of directors.”

Form 990, Part VI, Section C, Line 19

“Governing board documents, conflict of interest policy and financial statements are available upon request”

Filing and Contact Details

Filer

Filer Name
Valley Arts Academy
EIN
27-1123275
Phone
4356357815
Address
539 N 870 W, HURRICANE, UT 84737

Signing Officer

Name
Nate Adams
Title
Business Manager
Phone
4356357815
Signed
2023-02-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tracy Stevens
Formed
2011
Legal Domicile
Ut
Voting Board Members
7
Independent Board Members
7
Employees
94
Volunteers
12

Preparer

Firm
Eide Bailly Llp
Address
5929 FASHION POINT DR STE 300, OGDEN, UT 84403-4684
Preparer
Chett Campbell CPA
Phone
8016211575
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IRS990/MissionDesc0THE MISSION OF VALLEY ACADEMY IS TO PROVIDE A SUPERIOR ACADEMIC PROGRAM ENHANCED BY INTEGRATION TRAINING IN FINE AND PERFORMING ARTS AND A TECHNOLOGICALLY ADVANCED CURRICULUM IN A SOCIAL EMOTIONAL LEARNING ENVIRONMENT THAT PROMOTES RESPONSIBLE FREEDOM.
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IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt05548716
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0920664
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06469380
IRS990ScheduleD/EquipmentGrp/BookValueAmt0187336
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0147563
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0334899
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt04725785
IRS990ScheduleD/LandGrp/BookValueAmt0582000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0582000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt087249
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt064280
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0151529
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt05204583
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06405301
IRS990ScheduleD/TotalExpensesPerForm990Amt04725785
IRS990ScheduleD/TotalRevenuePerForm990Amt05204583
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05204583
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04725785
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd00
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS EXCUSED FROM FORMAL COMPLIANCE WITH REV. PROC. 75-50 AS LONG AS THE SCHOOL'S CHARTER AGREEMENT WITH THE STATE REMAINS IN EFFECT.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION RECEIVES STATE AND FEDERAL FUNDING TO OPERATE THE SCHOOL.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS HAS DELEGATED BROAD AUTHORITY OF THE ORGANIZATION TO THE EXECUTIVE COMMITTEE WHILE THE BOARD IS IN BETWEEN BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING. AT THE NEXT BOARD MEETING, THE FORM 990 IS DISCUSSED AND APPROVED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MONITORED BY THE EXECUTIVE DIRECTOR AND BOARD ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE DIRECTOR'S COMPENSATION IS BASED ON APPROVED PAY SCALES WHICH ARE REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING BOARD DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 1A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0UT
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt08243014
IRS990/TotalAssetsGrp/BOYAmt07914315
IRS990/TotalAssetsGrp/EOYAmt08243014
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt05141797
IRS990/TotalEmployeeCnt094
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0118431
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt04607354
IRS990/TotalFunctionalExpensesGrp/TotalAmt04725785
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06665612
IRS990/TotalLiabilitiesEOYAmt06515513
IRS990/TotalLiabilitiesGrp/BOYAmt06665612
IRS990/TotalLiabilitiesGrp/EOYAmt06515513
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01248703
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01727501
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt04607354
IRS990/TotalProgramServiceRevenueAmt053142
IRS990/TotalReportableCompFromOrgAmt0107475
IRS990/TotalRevenueGrp/ExclusionAmt09644
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt053142
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05204583
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt012
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt07914315
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08243014
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt066194
IRS990/TravelGrp/TotalAmt066194
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0539 N 870 W
IRS990/USAddress/CityNm0HURRICANE
IRS990/USAddress/StateAbbreviationCd0UT
IRS990/USAddress/ZIPCd084737
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0VALLEYACADEMYCHARTER.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0NATE ADAMS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BUSINESS MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum04356357815
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-02-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VALLEY ARTS ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0VALL
ReturnHeader/Filer/EIN0271123275
ReturnHeader/Filer/PhoneNum04356357815
ReturnHeader/Filer/USAddress/AddressLine1Txt0539 N 870 W
ReturnHeader/Filer/USAddress/CityNm0HURRICANE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0UT
ReturnHeader/Filer/USAddress/ZIPCd084737
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0450250958
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0EIDE BAILLY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05929 FASHION POINT DR STE 300

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,243,014
Liabilities
$6,515,513
Net assets
$1,727,501
Revenue
$5,204,583
Expenses
$4,725,785
Net income
$478,798
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$15.8$13.1$2.71$7.72$7.22$0.51
2024Detailed filing. Detailed filing data is available for this year.$10.0$7.82$2.20$6.82$6.50$0.32
2023Detailed filing. Detailed filing data is available for this year.$9.82$7.93$1.88$5.95$5.79$0.16
2022Detailed filing. Detailed filing data is available for this year.$8.24$6.52$1.73$5.20$4.73$0.48
2021Detailed filing. Detailed filing data is available for this year.$7.91$6.67$1.25$4.71$4.28$0.42