Civic Intelligence

Village Tech Schools

990 • Fiscal year 2022 • EIN 45-5607359

Sep 01, 2021 to Aug 31, 2022 • Filed on Apr 19, 2023

Organization ProfileWWW.VILLAGETECHSCHOOLS.ORG

View Organization Page

402 W Danieldale RoadDuncanville, TX 75137

(972) 291-1390

Siviq Scores

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

Liabilities / Assets

89th percentile

0.86x

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

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

85th percentile

1.87x

Higher debt load relative to revenue than 85% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Net Margin

48th percentile

5.4%

Higher net margin than 48% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

18th percentile

$135,567

Higher top officer pay than 18% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Asset Growth

56th percentile

2.5%

Faster asset growth than 56% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

75th percentile

23%

Faster revenue growth than 75% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets89th percentile

Assets

Up

$32,290,922

Up $780,988 (+2.5%) from 2021

Net Assets

Up

$4,595,173

Up $803,134 (+21%) from 2021

Liabilities

Down

$27,695,749

Down $22,146 (-0.1%) from 2021

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin48th percentile

Revenue

Up

$14,785,373

Up $2,755,243 (+23%) from 2021

Expenses

Up

$13,982,239

Up $2,309,081 (+20%) from 2021

Net Income

Up

$803,134

Up $446,162 (+125%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth56th percentile

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

$40M$30M$20M$10M$0Assets 2012: $12,444Liabilities 2012: $0Net Assets 2012: $12,4442012Assets 2013: $2,539,756Liabilities 2013: $2,113,535Net Assets 2013: $426,2212013Assets 2014: $2,563,759Liabilities 2014: $2,025,456Net Assets 2014: $538,3032014Assets 2015: $4,176,984Liabilities 2015: $2,413,318Net Assets 2015: $1,763,6662015Assets 2016: $3,774,106Liabilities 2016: $1,912,102Net Assets 2016: $1,862,0042016Assets 2017: $3,974,866Liabilities 2017: $1,566,313Net Assets 2017: $2,408,5532017Assets 2018: $23,477,610Liabilities 2018: $21,618,815Net Assets 2018: $1,858,7952018Assets 2019: $31,257,676Liabilities 2019: $28,372,981Net Assets 2019: $2,884,6952019Assets 2020: $31,323,467Liabilities 2020: $27,888,400Net Assets 2020: $3,435,0672020Assets 2021: $31,509,934Liabilities 2021: $27,717,895Net Assets 2021: $3,792,0392021Assets 2022: $32,290,922Liabilities 2022: $27,695,749Net Assets 2022: $4,595,1732022Assets 2023: $33,612,553Liabilities 2023: $28,993,761Net Assets 2023: $4,618,7922023Assets 2024: $33,203,374Liabilities 2024: $27,354,416Net Assets 2024: $5,848,9582024

Highlighted filing

2022

Assets$32,290,922
Liabilities$27,695,749
Net Assets$4,595,173
Open 2022 Filing

Operations Trend

Revenue Growth75th percentile

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2012: $22,868Expenses 2012: $10,424Net Income 2012: $12,4442012Revenue 2013: $1,935,331Expenses 2013: $1,521,554Net Income 2013: $413,7772013Revenue 2014: $4,950,918Expenses 2014: $4,228,879Net Income 2014: $722,0392014Revenue 2015: $6,143,392Expenses 2015: $4,918,028Net Income 2015: $1,225,3642015Revenue 2016: $6,019,386Expenses 2016: $5,921,048Net Income 2016: $98,3382016Revenue 2017: $6,705,270Expenses 2017: $6,158,721Net Income 2017: $546,5492017Revenue 2018: $8,020,595Expenses 2018: $8,570,353Net Income 2018: -$549,7582018Revenue 2019: $10,700,284Expenses 2019: $9,674,385Net Income 2019: $1,025,8992019Revenue 2020: $11,126,237Expenses 2020: $10,575,864Net Income 2020: $550,3732020Revenue 2021: $12,030,130Expenses 2021: $11,673,158Net Income 2021: $356,9722021Revenue 2022: $14,785,373Expenses 2022: $13,982,239Net Income 2022: $803,1342022Revenue 2023: $14,652,616Expenses 2023: $14,628,997Net Income 2023: $23,6192023Revenue 2024: $15,475,744Expenses 2024: $14,245,578Net Income 2024: $1,230,1662024

Highlighted filing

2022

Revenue$14,785,373
Expenses$13,982,239
Net Income$803,134
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2021 to Aug 31, 2022
Signed
Apr 19, 2023
Return Version
2021v4.1
Gross Receipts
$14,785,373
Mission and Program Overview

Mission

Operations of schools for the education of students using individualized curriculum

Educate by creating an active and immersive learning environment that empowers students to become creative, problem-solving leaders of character who are prepared to take on real-world challenges.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$25,640,050$25,194,117▼ $445,933
Cash and Non-Interest-Bearing Accounts$3,767,984$3,902,917▲ $134,933
Accounts Receivable$493,832$1,624,100▲ $1,130,268
Savings and Temporary Cash Investments$1,568,334$1,525,397▼ $42,937
Prepaid Expenses and Deferred Charges$39,734$44,391▲ $4,657
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$31,509,934$32,290,922▲ $780,988
Other Assets Total-$0-
Liabilities
Tax Exempt Bond Liabilities$26,514,936$26,082,928▼ $432,008
Accounts Payable and Accrued Expenses$705,276$1,141,708▲ $436,432
Mortgage Notes Payable Secured by Investment Property$497,683$471,113▼ $26,570
Total Liabilities$27,717,895$27,695,749▼ $22,146
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,980,261$3,485,791▲ $505,530
Net Assets Without Donor Restrictions$811,778$1,109,382▲ $297,604
Total Net Assets Fund Balance$3,792,039$4,595,173▲ $803,134
Total Liabilities and Net Assets / Fund Balance$31,509,934$32,290,922▲ $780,988

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$22,624,673$2,561,454$25,186,127
Land$2,077,145-$2,077,145
Equipment$271,299$477,100$748,399
Other Land Buildings$221,000-$221,000
Compensation and Service Providers
Top Officer Pay18th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
David L WilliamsCEO/superFT$129,275$6,292$135,567
Robert G JohansenAsst SuperFT$115,583$5,940$121,523

Board Members and Trustees

NameTitle
Joshua NasonChairman
Justin R GobertVice Chairman
Amanda WyattBoard Member
Tim MaidenBoard Member
Joli Angel RobinsonAsst. Secretary
Martha FernandezSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Mobile ModularModular BuildingsPO BOX 45043, San Francisco, CA 94145$602,909
Dynamic Support SolutionsFinancial ServicesPO BOX 541012, Dallas, TX 75354$255,670
Enriched SchoolsSubstitute TeachersPO BOX 676134, Dallas, TX 75267$175,395
Preferred Meals SystemsFood Service5240 ST CHARLES RD, Berkeley, IL 60163$168,068
Renaissance InstituteIt SupportPO BOX 2916, Waxahachie, TX 75168$125,941
Revenue and Support

Revenue Composition

Contributions and Grants
$14,487,769
Program Service Revenue
$297,604
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$803,134

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,785,373
Total Revenue per Audited Statements
$14,785,373
Total Revenue per Form 990
$14,785,373
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$7,426,310
Other Expenses$6,555,929
Total Fundraising Expense$186,628
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,425,541$943,133$93,111$6,461,785
Interest$1,278,860$241,802$19,502$1,540,164
Fees for Services Other$1,021,986$490,003$12,838$1,524,827
Occupancy$931,669$59,921-$991,590
Depreciation Depletion$725,922$30,895-$756,817
Other Employee Benefits$288,638$33,850$1,911$324,399
Pension Plan Contributions$250,635$28,713$2,614$281,962
Current Officers, Directors, Trustees, and Key Employees$76,770$179,129-$255,899
Other Expenses$1,282,056$134,834$23,839$158,673
Insurance$91,351$30,955$241$122,547
Payroll Taxes$85,627$15,307$1,331$102,265
Travel$53,308$2,506-$55,814
Fees for Services Legal-$40,434-$40,434
Fees for Services Accounting-$19,000-$19,000
Total Functional Expenses$11,512,363$2,283,248$186,628$13,982,239

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$13,982,239
Total Expenses per Audited Statements$13,982,239
Total Expenses per Form 990$13,982,239
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
ANewark Higher Education2017-11-29$18,620,000Construction of school bldg
CArlington Higher Educatio2018-12-01$8,385,000Construction of school bldg
BNewark Higher Education2017-11-29$1,895,000Construction of school bldg

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$18,620,000-$1,435,000$350,126
C$8,385,000--$465,528
B$1,895,000-$410,000$349,352

Bond Financing Compliance

Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
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
Yes
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, Line 11B: Form 990 Review Process

“The form 990 is provided to the governing body and organization's officers prior to its submission and is approved by at least two officers prior to its submission.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“All officers and board members are required to sign a conflict of interest form annually. All potential conflicts of interest must be disclosed. If there is a conflict on interest indentified, it is posted on the school's website.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“The board approves all salaries of officers and key employees.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Governing documents, conflict of interest policy, financial statements and form 990 filing are available upon request.”

Filing and Contact Details

Filer

Filer Name
Village Tech Schools
EIN
45-5607359
Phone
9722911390
Address
402 W DANIELDALE ROAD, DUNCANVILLE, TX 75137

Signing Officer

Name
David Williams
Title
CEO
Signed
2023-04-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Williams
Formed
2012
Legal Domicile
TX
Voting Board Members
6
Independent Board Members
6
Employees
167
Volunteers
200

Preparer

Firm
Sutton Frost Cary LLP
Address
600 Six Flags Dr Suite 600, Arlington, TX 76011
Preparer
Carroll Elizabeth Arnott
Phone
8176498083
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The School is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code (Code) and has not been classified as a private foundation as defined in the Code. Income generated from activities unrelated to the Schools exempt purposes is subject to tax under Code Section 511. The School had no unrelated business income for the year ended August 31, 2022. Accordingly, no provision has been made for federal income tax.GAAP requires the evaluation of tax positions taken in the course of preparing the Schools tax return and recognition of a tax liability (or asset) if the School has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. Management has analyzed the tax positions taken by the School, and has concluded that as of August 31, 2022, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5Secretary
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IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
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IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0Educate by creating an active and immersive learning environment that empowers students to become creative, problem-solving leaders of character who are prepared to take on real-world challenges.
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IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt01109382
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IRS990/OccupancyGrp/TotalAmt0991590
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IRS990/OtherExpensesGrp/TotalAmt1158673
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IRS990/PayrollTaxesGrp/FundraisingAmt01331
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IRS990/PayrollTaxesGrp/TotalAmt0102265
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt044391
IRS990/PrincipalOfficerNm0DAVID WILLIAMS
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1264664
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IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
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IRS990/PYProgramServiceRevenueAmt0164999
IRS990/PYRevenuesLessExpensesAmt0356972
IRS990/PYSalariesCompEmpBnftPaidAmt06025920
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IRS990ScheduleA/SchoolInd0X
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IRS990ScheduleD/EquipmentGrp/BookValueAmt0271299
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0477100
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The School is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code (Code) and has not been classified as a private foundation as defined in the Code. Income generated from activities unrelated to the Schools exempt purposes is subject to tax under Code Section 511. The School had no unrelated business income for the year ended August 31, 2022. Accordingly, no provision has been made for federal income tax.GAAP requires the evaluation of tax positions taken in the course of preparing the Schools tax return and recognition of a tax liability (or asset) if the School has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. Management has analyzed the tax positions taken by the School, and has concluded that as of August 31, 2022, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt014785373
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt013982239
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL OPERATES UNDER A TEXAS OPEN ENROLLMENT CHARTER PROHIBITING DISCRIMINATION AND ACCEPTING ALL STUDENTS WITHIN THEIR GEOGRAPHIC BOUNDARIES UNDER THE SAME RULES AS THE TEXAS PUBLIC SCHOOLS.

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Filings

Displayed year

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

Open filing
Assets
$32,290,922
Liabilities
$27,695,749
Net assets
$4,595,173
Revenue
$14,785,373
Expenses
$13,982,239
Net income
$803,134
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$33.2$27.4$5.85$15.5$14.2$1.23
2023Detailed filing. Detailed filing data is available for this year.$33.6$29.0$4.62$14.7$14.6$0.02
2022Detailed filing. Detailed filing data is available for this year.$32.3$27.7$4.60$14.8$14.0$0.80
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.5$27.7$3.79$12.0$11.7$0.36
2020Detailed filing. Detailed filing data is available for this year.$31.3$27.9$3.44$11.1$10.6$0.55
2019Detailed filing. Detailed filing data is available for this year.$31.3$28.4$2.88$10.7$9.67$1.03
2018Detailed filing. Detailed filing data is available for this year.$23.5$21.6$1.86$8.02$8.57$0.55
2017Detailed filing. Detailed filing data is available for this year.$3.97$1.57$2.41$6.71$6.16$0.55
2016Detailed filing. Detailed filing data is available for this year.$3.77$1.91$1.86$6.02$5.92$0.10
2015Summary only. Only limited summary data is available for this year.$4.18$2.41$1.76$6.14$4.92$1.23
2014Summary only. Only limited summary data is available for this year.$2.56$2.03$0.54$4.95$4.23$0.72
2013Detailed filing. Detailed filing data is available for this year.$2.54$2.11$0.43$1.94$1.52$0.41
2012Summary only. Only limited summary data is available for this year.$0.01$0.00$0.01$0.02$0.01$0.01