Civic Intelligence

Arkansas Virtual Academy

990 • Fiscal year 2014 • EIN 43-2017445

Jul 01, 2013 to Jun 30, 2014 • Filed on May 13, 2015

Organization Profilearva.k12.com
4702 West Commercial Drive Suite B372116

(501) 664-4225

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.72x

Higher debt load relative to assets than 83% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

29th percentile

0.08x

Higher debt load relative to revenue than 29% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Net Margin

45th percentile

1.3%

Higher net margin than 45% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Asset Growth

88th percentile

27%

Faster asset growth than 88% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

82nd percentile

27%

Faster revenue growth than 82% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2011 to 2014

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$756,988

Up $161,760 (+27%) from 2013

Net Assets

Up

$209,451

Up $93,456 (+81%) from 2013

Liabilities

Up

$547,537

Up $68,304 (+14%) from 2013

Revenue And Expenses
Liabilities / Revenue29th percentileNet Margin45th percentile

Revenue

$7,030,190

No earlier filing loaded for comparison.

Expenses

Up

$6,936,734

Up $3,423,900 (+97%) from 2013

Net Income

$93,456

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth88th percentile

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

$6.0M$4.0M$2.0M$0Assets 2011: $791,500Liabilities 2011: $690,675Net Assets 2011: $100,8252011Assets 2012: $446,905Liabilities 2012: $266,357Net Assets 2012: $180,5482012Assets 2013: $595,228Liabilities 2013: $479,233Net Assets 2013: $115,9952013Assets 2014: $756,988Liabilities 2014: $547,537Net Assets 2014: $209,4512014Assets 2015: $839,866Liabilities 2015: $506,945Net Assets 2015: $332,9212015Assets 2016: $1,470,761Liabilities 2016: $1,081,928Net Assets 2016: $388,8332016Assets 2017: $1,465,707Liabilities 2017: $1,027,337Net Assets 2017: $438,3702017Assets 2018: $1,775,717Liabilities 2018: $1,317,959Net Assets 2018: $457,7582018Assets 2019: $2,084,567Liabilities 2019: $1,556,451Net Assets 2019: $528,1162019Assets 2020: $1,756,315Liabilities 2020: $987,619Net Assets 2020: $768,6962020Assets 2021: $3,075,159Liabilities 2021: $1,776,518Net Assets 2021: $1,298,6412021Assets 2022: $5,352,341Liabilities 2022: $3,531,104Net Assets 2022: $1,821,2372022Assets 2023: $4,168,028Liabilities 2023: $2,870,213Net Assets 2023: $1,297,8152023Assets 2024: $2,823,365Liabilities 2024: $1,982,997Net Assets 2024: $840,3682024

Highlighted filing

2014

Assets$756,988
Liabilities$547,537
Net Assets$209,451
Open 2014 Filing

Operations Trend

Revenue Growth82nd percentile

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

$40M$30M$20M$10M$0-$10MRevenue 2011: $3,400,866Expenses 2011: $3,352,310Net Income 2011: $48,5562011Expenses 2012: $3,334,2702012Expenses 2013: $3,512,8342013Revenue 2014: $7,030,190Expenses 2014: $6,936,734Net Income 2014: $93,4562014Revenue 2015: $11,554,994Expenses 2015: $11,423,566Net Income 2015: $131,4282015Revenue 2016: $12,813,773Expenses 2016: $12,757,861Net Income 2016: $55,9122016Revenue 2017: $13,125,204Expenses 2017: $13,075,667Net Income 2017: $49,5372017Revenue 2018: $14,431,426Expenses 2018: $14,412,038Net Income 2018: $19,3882018Revenue 2019: $17,330,235Expenses 2019: $17,259,877Net Income 2019: $70,3582019Revenue 2020: $19,083,010Expenses 2020: $18,842,430Net Income 2020: $240,5802020Revenue 2021: $27,721,037Expenses 2021: $27,191,092Net Income 2021: $529,9452021Revenue 2022: $37,382,788Expenses 2022: $36,860,192Net Income 2022: $522,5962022Revenue 2023: $37,932,459Expenses 2023: $38,455,881Net Income 2023: -$523,4222023Revenue 2024: $34,754,427Expenses 2024: $35,211,874Net Income 2024: -$457,4472024

Highlighted filing

2014

Revenue$7,030,190
Expenses$6,936,734
Net Income$93,456
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
May 13, 2015
Return Version
2013v4.0
Gross Receipts
$7,030,190
Mission and Program Overview

Mission

To promote and encourage innovative, effective, and comprehensive educational opportunities for children of Arkansas.

To promote and encourage innovative, effective, and comprehensive educational opportunities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$555,620$710,213▲ $154,593
Accounts Receivable$24,895$36,539▲ $11,644
Total Assets$595,228$756,988▲ $161,760
Other Assets Total$14,713$10,236▼ $4,477
Liabilities
Accounts Payable and Accrued Expenses$452,049$537,301▲ $85,252
Other Liabilities$27,184$10,236▼ $16,948
Total Liabilities$479,233$547,537▲ $68,304
Net Assets / Fund Balance
Unrestricted Net Assets$94,244$201,190▲ $106,946
Temporarily Rstr Net Assets$21,751$8,261▼ $13,490
Total Net Assets Fund Balance$115,995$209,451▲ $93,456
Total Liabilities and Net Assets / Fund Balance$595,228$756,988▲ $161,760
Compensation and Service Providers
Top Officer Pay19th percentile

Board Members and Trustees

NameTitle
John RiggsChair
Angela DriskillVice Chair
Chad GallagherBoard Member
Gary McHenryBoard Member
Jess Askew IIIBoard Member
Kevin SmithBoard Member
Cary HiattSecretary/Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
K-12 IncSee Schedule O-$4,700,888
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$7,027,487
Investment Income
$2,703
Other Revenue
$0
Change in Net Assets
$93,456

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,030,190
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$7,030,190
Total Revenue per Form 990
$7,030,190
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,672,222
Salaries, Compensation, and Employee Benefits$1,264,512
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,016,560--$1,016,560
Fees for Services Other$411,887$98,937-$510,824
Occupancy$272,288$42,750-$315,038
All Other Expenses$36,984$112,383-$149,367
Other Employee Benefits$93,208--$93,208
Pension Plan Contributions$81,255--$81,255
Payroll Taxes$73,489--$73,489
Office Expenses$58,593$9,468-$68,061
Other Expenses$65,670--$65,670
Fees for Services Accounting-$17,500-$17,500
Insurance$16,255--$16,255
Travel$8,468$6,872-$15,340
Advertising-$577-$577
Total Functional Expenses$6,648,247$288,487$0$6,936,734

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,936,734
Total Expenses per Audited Statements$6,936,734
Total Expenses per Form 990$6,936,734
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to General Fund$10,236
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 family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
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
Yes

Governance Explanations

Form 990, Part VI, Section A, line 3

“The Organization outsources the following services to K-12, Inc.: management, technology, computer leases, learning management systems, cirriculum, books, and educational materials.”

Form 990, Part VI, Section B, line 11

“A draft copy of the Form 990 is emailed to each member of the Board for review and approval before filing.”

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

“Each board member is required to sign the conflict of interest form attached to the policy and list any conflicts or potential conflicts. Those forms are kept on file. They are also reminded that as stated in the policy, any conflicts or potential conflicts that arise during the year must be immediately disclosed.”

Form 990, Part VI, Section C, line 19

“The Organization provides policy and financial information to the public upon request at the address listed on Page 1.”

Filing and Contact Details

Filer

EIN
43-2017445
Phone
5016644225

Signing Officer

Name
Cary Hiatt
Title
Secretary/Treasurer
Phone
5016644225
Signed
2015-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Riggs
Formed
2003
Legal Domicile
Ar
Voting Board Members
7
Independent Board Members
7
Employees
14
Volunteers
50

Preparer

Preparer
Randy L Milligan
Phone
5013752025
Raw XML Appendix380 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleE/GovernmentFinancialAidRcvdInd00
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0All advertising, solicitation, and promotional materials include a statement of non-discrimination.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Organization outsources the following services to K-12, Inc.: management, technology, computer leases, learning management systems, cirriculum, books, and educational materials.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A draft copy of the Form 990 is emailed to each member of the Board for review and approval before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Each board member is required to sign the conflict of interest form attached to the policy and list any conflicts or potential conflicts. Those forms are kept on file. They are also reminded that as stated in the policy, any conflicts or potential conflicts that arise during the year must be immediately disclosed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Organization provides policy and financial information to the public upon request at the address listed on Page 1.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0AR
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt021751
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt08261
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0595228
IRS990/TotalAssetsEOYAmt0756988
IRS990/TotalAssetsGrp/BOYAmt0595228
IRS990/TotalAssetsGrp/EOYAmt0756988
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt014
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0288487
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt06648247
IRS990/TotalFunctionalExpensesGrp/TotalAmt06936734
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0479233
IRS990/TotalLiabilitiesEOYAmt0547537
IRS990/TotalLiabilitiesGrp/BOYAmt0479233
IRS990/TotalLiabilitiesGrp/EOYAmt0547537
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0115995
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0209451
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt06648247
IRS990/TotalProgramServiceRevenueAmt07027487
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt02703
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt07027487
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt07030190
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt050
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0595228
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0756988
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt06872
IRS990/TravelGrp/ProgramServicesAmt08468
IRS990/TravelGrp/TotalAmt015340
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt094244
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0201190
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine104702 West Commercial Drive Suite B3
IRS990/USAddress/City0North Little Rock
IRS990/USAddress/State0AR
IRS990/USAddress/ZIPCode072116
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0arva.k12.com
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Cary Hiatt
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Secretary/Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum05016644225
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine10Arkansas Virtual Academy
ReturnHeader/Filer/BusinessNameControlTxt0ARKA
ReturnHeader/Filer/EIN0432017445
ReturnHeader/Filer/PhoneNum05016644225
ReturnHeader/Filer/USAddress/AddressLine104702 West Commercial Drive Suite B3
ReturnHeader/Filer/USAddress/City0North Little Rock
ReturnHeader/Filer/USAddress/State0AR
ReturnHeader/Filer/USAddress/ZIPCode072116
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0710271741
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10Thomas & Thomas LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10201 E Markham Suite 500
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0Little Rock
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0AR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode072201
ReturnHeader/PreparerPersonGrp/PhoneNum05013752025
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Randy L Milligan
ReturnHeader/ReturnTs02015-05-13T16:24:30-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$756,988
Liabilities
$547,537
Net assets
$209,451
Revenue
$7,030,190
Expenses
$6,936,734
Net income
$93,456
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.82$1.98$0.84$34.8$35.2$0.46
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.17$2.87$1.30$37.9$38.5$0.52
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.35$3.53$1.82$37.4$36.9$0.52
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.08$1.78$1.30$27.7$27.2$0.53
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.76$0.99$0.77$19.1$18.8$0.24
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.08$1.56$0.53$17.3$17.3$0.07
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.78$1.32$0.46$14.4$14.4$0.02
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.47$1.03$0.44$13.1$13.1$0.05
2016Detailed filing. Detailed filing data is available for this year.$1.47$1.08$0.39$12.8$12.8$0.06
2015Detailed filing. Detailed filing data is available for this year.$0.84$0.51$0.33$11.6$11.4$0.13
2014Detailed filing. Detailed filing data is available for this year.$0.76$0.55$0.21$7.03$6.94$0.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.60$0.48$0.12$3.51
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.45$0.27$0.18$3.33
2011Summary only. Only limited summary data is available for this year.$0.79$0.69$0.10$3.40$3.35$0.05
Peer Organizations

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