Civic Intelligence

Arkansas Virtual Academy

990 • Fiscal year 2018 • EIN 43-2017445

Jul 01, 2017 to Jun 30, 2018 • Filed on May 16, 2019

Organization Profilearva.k12.com
1400 W Markham Ste 206Little Rock, AR 72201

(501) 664-4225

Siviq Scores

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

Liabilities / Assets

84th percentile

0.74x

Higher debt load relative to assets than 84% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

27th percentile

0.09x

Higher debt load relative to revenue than 27% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

36th percentile

0.1%

Higher net margin than 36% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

86th percentile

21%

Faster asset growth than 86% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

65th percentile

10.0%

Faster revenue growth than 65% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets84th percentile

Assets

Up

$1,775,717

Up $310,010 (+21%) from 2017

Net Assets

Up

$457,758

Up $19,388 (+4.4%) from 2017

Liabilities

Up

$1,317,959

Up $290,622 (+28%) from 2017

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin36th percentile

Revenue

Up

$14,431,426

Up $1,306,222 (+10.0%) from 2017

Expenses

Up

$14,412,038

Up $1,336,371 (+10%) from 2017

Net Income

Down

$19,388

Down $30,149 (-61%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth86th 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

2018

Assets$1,775,717
Liabilities$1,317,959
Net Assets$457,758
Open 2018 Filing

Operations Trend

Revenue Growth65th 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

2018

Revenue$14,431,426
Expenses$14,412,038
Net Income$19,388
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 16, 2019
Return Version
2017v2.3
Gross Receipts
$14,431,426
Mission and Program Overview

Mission

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

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,319,718$1,731,180▲ $411,462
Accounts Receivable$90,250$44,537▼ $45,713
Total Assets$1,409,968$1,775,717▲ $365,749
Liabilities
Accounts Payable and Accrued Expenses$971,598$1,317,959▲ $346,361
Total Liabilities$971,598$1,317,959▲ $346,361
Net Assets / Fund Balance
Unrestricted Net Assets$357,999$402,003▲ $44,004
Temporarily Rstr Net Assets$80,371$55,755▼ $24,616
Total Net Assets Fund Balance$438,370$457,758▲ $19,388
Total Liabilities and Net Assets / Fund Balance$1,409,968$1,775,717▲ $365,749
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
Gary McHenryChair
Jess Askew IIIVice Chair
Ann ClemmerBoard Member
Chad GallagherBoard Member
Stephen DavisBoard Member
Paige GormanSecretary/Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
K-12 IncSee Schedule O2300 Corporate Park Drive, Herndon, VA 20171$8,406,000
Revenue and Support

Revenue Composition

Contributions and Grants
$14,431,426
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$4,046
Change in Net Assets
$19,388

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,431,426
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$14,431,426
Total Revenue per Form 990
$14,431,426
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$9,998,853
Salaries, Compensation, and Employee Benefits$4,413,185
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,523,887$1,200-$3,525,087
Fees for Services Other$741,150$60,057-$801,207
Pension Plan Contributions$391,304$2,552-$393,856
Payroll Taxes$262,123$1,394-$263,517
Other Employee Benefits$211,061$19,664-$230,725
Office Expenses$82,482$118,902-$201,384
All Other Expenses$79,611$80,788-$160,399
Other Expenses$132,474--$132,474
Occupancy-$55,607-$55,607
Insurance$54,362--$54,362
Information Technology$39,015$4,841-$43,856
Travel$26,579$12,646-$39,225
Fees for Services Management-$38,277-$38,277
Fees for Services Accounting-$30,500-$30,500
Total Functional Expenses$13,985,610$426,428$0$14,412,038

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$14,412,038
Total Expenses per Audited Statements$14,412,038
Total Expenses per Form 990$14,412,038
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 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 11B

“A draft copy of the Form 990 is emailed to each Board member for review prior to 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

Filer Name
Arkansas Virtual Academy
EIN
43-2017445
Phone
5016644225
Address
1400 W Markham Ste 206, Little Rock, AR 72201

Signing Officer

Name
Paige Gorman
Title
Secretary / Treasurer
Phone
5016644225
Signed
2019-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paige Gorman
Formed
2003
Legal Domicile
Ar
Voting Board Members
5
Independent Board Members
5
Employees
136
Volunteers
6

Preparer

Firm
Landmark PLC CPAs
Address
201 E Markham Suite 500, Little Rock, AR 72201
Preparer
Randy L Milligan
Phone
5013752025
Raw XML Appendix378 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/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/ExplanationTxt1The organization receives assistance from government agencies including the U.S. Department of Education and the Arkansas Department of Education.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Part I, Line 6
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 Board member for review prior to 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 11b
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/BOYAmt080371
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt055755
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01409968
IRS990/TotalAssetsEOYAmt01775717
IRS990/TotalAssetsGrp/BOYAmt01409968
IRS990/TotalAssetsGrp/EOYAmt01775717
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt014431426
IRS990/TotalEmployeeCnt0136
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0426428
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt013985610
IRS990/TotalFunctionalExpensesGrp/TotalAmt014412038
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0971598
IRS990/TotalLiabilitiesEOYAmt01317959
IRS990/TotalLiabilitiesGrp/BOYAmt0971598
IRS990/TotalLiabilitiesGrp/EOYAmt01317959
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0438370
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0457758
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt013985610
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt014431426
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt06
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01409968
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01775717
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt012646
IRS990/TravelGrp/ProgramServicesAmt026579
IRS990/TravelGrp/TotalAmt039225
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0357999
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0402003
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01400 W Markham Ste 206
IRS990/USAddress/CityNm0Little Rock
IRS990/USAddress/StateAbbreviationCd0AR
IRS990/USAddress/ZIPCd072201
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0arva.k12.com
IRS990/WhistleblowerPolicyInd00
ReasonableCauseExplanation/ExplanationTxt0Late filed return due to CCH Software outage.
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Paige Gorman
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Secretary / Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum05016644225
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Arkansas Virtual Academy
ReturnHeader/Filer/BusinessNameControlTxt0ARKA
ReturnHeader/Filer/EIN0432017445
ReturnHeader/Filer/PhoneNum05016644225
ReturnHeader/Filer/USAddress/AddressLine1Txt01400 W Markham Ste 206
ReturnHeader/Filer/USAddress/CityNm0Little Rock
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AR
ReturnHeader/Filer/USAddress/ZIPCd072201
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId006E9157021095FC7FE685CAE17425F68332CDCF3
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId09276EE026A5A462EB7DE6D767A77E4684F5E0F69
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt012.188.221.99
ReturnHeader/FilingSecurityInformation/IPDt02019-05-16
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm011:59:26
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0710271741
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Landmark PLC CPAs
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0201 E Markham Suite 500
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Little Rock
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd072201
ReturnHeader/PreparerPersonGrp/PhoneNum05013752025
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Randy L Milligan
ReturnHeader/ReturnTs02019-05-16T12:18:37-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,775,717
Liabilities
$1,317,959
Net assets
$457,758
Revenue
$14,431,426
Expenses
$14,412,038
Net income
$19,388
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
2018Detailed filing. Detailed filing data is available for this year.$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