Civic Intelligence

Arkansas Virtual Academy

990 • Fiscal year 2021 • EIN 43-2017445

Jul 01, 2020 to Jun 30, 2021 • Filed on May 04, 2022

Organization ProfileARVA.K12.COM
1400 W Markham Street Suite 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

79th percentile

0.58x

Higher debt load relative to assets than 79% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

18th percentile

0.06x

Higher debt load relative to revenue than 18% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Net Margin

26th percentile

1.9%

Higher net margin than 26% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

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

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Asset Growth

95th percentile

75%

Faster asset growth than 95% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

78th percentile

45%

Faster revenue growth than 78% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets79th percentile

Assets

Up

$3,075,159

Up $1,318,844 (+75%) from 2020

Net Assets

Up

$1,298,641

Up $529,945 (+69%) from 2020

Liabilities

Up

$1,776,518

Up $788,899 (+80%) from 2020

Revenue And Expenses
Liabilities / Revenue18th percentileNet Margin26th percentile

Revenue

Up

$27,721,037

Up $8,638,027 (+45%) from 2020

Expenses

Up

$27,191,092

Up $8,348,662 (+44%) from 2020

Net Income

Up

$529,945

Up $289,365 (+120%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth95th 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

2021

Assets$3,075,159
Liabilities$1,776,518
Net Assets$1,298,641
Open 2021 Filing

Operations Trend

Revenue Growth78th 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

2021

Revenue$27,721,037
Expenses$27,191,092
Net Income$529,945
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 4, 2022
Return Version
2020v4.2
Gross Receipts
$27,721,037
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$1,594,327$2,900,359▲ $1,306,032
Accounts Receivable$161,988$174,800▲ $12,812
Total Assets$1,756,315$3,075,159▲ $1,318,844
Liabilities
Accounts Payable and Accrued Expenses$987,619$1,776,518▲ $788,899
Total Liabilities$987,619$1,776,518▲ $788,899
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$527,615$776,661▲ $249,046
Net Assets With Donor Restrictions$241,081$521,980▲ $280,899
Total Net Assets Fund Balance$768,696$1,298,641▲ $529,945
Total Liabilities and Net Assets / Fund Balance$1,756,315$3,075,159▲ $1,318,844
Compensation and Service Providers
Top Officer Pay9th percentile

Board Members and Trustees

NameTitle
Gary MchenryChair
Jess Askew IiiVice Chair
Dana KellyMember
Joel EdelMember
Rodney NagelMember
Paige GormanSecretary/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Stride INCSee Schedule O2300 CORPORATE PARK DRIVE, Herndon, VA 20171$10,386,008
Revenue and Support

Revenue Composition

Contributions and Grants
$27,721,037
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$529,945

Audited Revenue Reconciliation

Revenue per Audited Statements
$27,721,037
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$27,721,037
Total Revenue per Form 990
$27,721,037
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$18,651,593
Salaries, Compensation, and Employee Benefits$8,539,499
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,677,121$118,699-$6,795,820
Fees for Services Other$1,269,156$825-$1,269,981
Pension Plan Contributions$939,695$17,205-$956,900
Fees for Services Management-$600,916-$600,916
Payroll Taxes$467,023$8,358-$475,381
Other Employee Benefits$308,423$2,975-$311,398
All Other Expenses$247,859$26,554-$274,413
Information Technology$103,311$150,700-$254,011
Office Expenses$55,888$185,776-$241,664
Other Expenses$186,301$27,987-$186,301
Occupancy-$96,460-$96,460
Insurance-$73,387-$73,387
Fees for Services Accounting-$26,500-$26,500
Travel$21,847$1,197-$23,044
Fees for Services Legal-$13,778-$13,778
Total Functional Expenses$25,839,775$1,351,317$0$27,191,092

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$27,191,092
Total Expenses per Audited Statements$27,191,092
Total Expenses per Form 990$27,191,092
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
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 STREET SUITE 206, LITTLE ROCK, AR 72201

Signing Officer

Name
Amy Johnson
Title
Head of School
Phone
5016644225
Signed
2022-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Amy Johnson
Formed
2003
Legal Domicile
Ar
Voting Board Members
6
Independent Board Members
6
Employees
175
Volunteers
34

Preparer

Firm
Landmark Plc Cpas
Address
201 EAST MARKHAM SUITE 500, LITTLE ROCK, AR 72201
Preparer
Randy L Milligan CPA
Phone
5013752025
Raw XML Appendix385 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/DiscriminateRaceAthltProgInd00
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IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
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IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
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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
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ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,075,159
Liabilities
$1,776,518
Net assets
$1,298,641
Revenue
$27,721,037
Expenses
$27,191,092
Net income
$529,945
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
2021Detailed filing. Detailed filing data is available for this year.$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