Civic Intelligence

Village Tech Schools

990 • Fiscal year 2023 • EIN 45-5607359

Sep 01, 2022 to Aug 31, 2023 • Filed on Apr 22, 2024

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.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

85th percentile

1.98x

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

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

37th percentile

0.2%

Higher net margin than 37% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

19th percentile

$140,647

Higher top officer pay than 19% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

42nd percentile

4.1%

Faster asset growth than 42% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

36th percentile

-0.9%

Faster revenue growth than 36% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets89th percentile

Assets

Up

$33,612,553

Up $1,321,631 (+4.1%) from 2022

Net Assets

Up

$4,618,792

Up $23,619 (+0.5%) from 2022

Liabilities

Up

$28,993,761

Up $1,298,012 (+4.7%) from 2022

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin37th percentile

Revenue

Down

$14,652,616

Down $132,757 (-0.9%) from 2022

Expenses

Up

$14,628,997

Up $646,758 (+4.6%) from 2022

Net Income

Down

$23,619

Down $779,515 (-97%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth42nd 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

2023

Assets$33,612,553
Liabilities$28,993,761
Net Assets$4,618,792
Open 2023 Filing

Operations Trend

Revenue Growth36th 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

2023

Revenue$14,652,616
Expenses$14,628,997
Net Income$23,619
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2022 to Aug 31, 2023
Signed
Apr 22, 2024
Return Version
2022v5.0
Gross Receipts
$14,652,616
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$25,194,117$24,790,953▼ $403,164
Cash and Non-Interest-Bearing Accounts$3,902,917$5,841,766▲ $1,938,849
Savings and Temporary Cash Investments$1,525,397$1,635,236▲ $109,839
Accounts Receivable$1,624,100$1,167,422▼ $456,678
Prepaid Expenses and Deferred Charges$44,391$96,805▲ $52,414
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$32,290,922$33,612,553▲ $1,321,631
Other Assets Total-$80,371-
Liabilities
Tax Exempt Bond Liabilities$26,082,928$25,625,947▼ $456,981
Unsecured Notes Loans Payable-$2,000,000-
Accounts Payable and Accrued Expenses$1,141,708$821,734▼ $319,974
Mortgage Notes Payable Secured by Investment Property$471,113$442,413▼ $28,700
Other Liabilities-$83,279-
Deferred Revenue-$20,388-
Total Liabilities$27,695,749$28,993,761▲ $1,298,012
Net Assets / Fund Balance
Net Assets With Donor Restrictions$3,485,791$3,024,430▼ $461,361
Net Assets Without Donor Restrictions$1,109,382$1,594,362▲ $484,980
Total Net Assets Fund Balance$4,595,173$4,618,792▲ $23,619
Total Liabilities and Net Assets / Fund Balance$32,290,922$33,612,553▲ $1,321,631

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$21,942,293$3,243,834$25,186,127
Land$2,077,145-$2,077,145
Equipment$282,419$557,824$840,243
Other Land Buildings$489,096-$489,096
Compensation and Service Providers
Top Officer Pay19th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
David L WilliamsCEO/superFT$133,841$6,806$140,647
Robert G JohansenAsst SuperFT$117,667$6,375$124,042

Board Members and Trustees

NameTitle
Joshua NasonChairman
Justin R GobertVice Chairman
Amanda WyattBoard Member
Kendall HillBoard Member
Tim MaidenBoard Member
Martha FernandezSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Mobile ModularModular BuildingsPO BOX 45043, San Francisco, CA 94145$760,299
Wra ArchitectsArchitect Services12377 MERIT DRIVE STE 1800, Dallas, TX 75251$488,796
Clean It Fix It Build ItJanitorial Services3136 MERRELL RD, Dallas, TX 75229$263,256
Dynamic Support SolutionsFinancial ServicesPO BOX 541012, Dallas, TX 75354$261,500
Renaissance InstituteIt SupportPO BOX 2916, Waxahachie, TX 75168$159,002
Revenue and Support

Revenue Composition

Contributions and Grants
$14,167,636
Program Service Revenue
$484,980
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$23,619

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,652,616
Total Revenue per Audited Statements
$14,652,616
Total Revenue per Form 990
$14,652,616
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$8,590,261
Other Expenses$6,038,736
Total Fundraising Expense$132,361
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,318,321$1,019,614$58,874$7,396,809
Interest$1,312,172$244,602$13,503$1,570,277
Fees for Services Other$949,224$485,531$16,041$1,450,796
Occupancy$835,585$49,070-$884,655
Depreciation Depletion$733,212$29,892-$763,104
Other Expenses$251,889$179,629$26,484$458,002
Pension Plan Contributions$368,358$30,847$1,361$400,566
Other Employee Benefits$346,953$38,127$1,878$386,958
Current Officers, Directors, Trustees, and Key Employees$85,834$200,280-$286,114
Insurance$144,512$21,157$338$166,007
Payroll Taxes$102,103$16,865$846$119,814
Fees for Services Legal-$51,054-$51,054
Travel$27,794$10,108$650$38,552
Total Functional Expenses$12,095,217$2,401,419$132,361$14,628,997

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$14,628,997
Total Expenses per Audited Statements$14,628,997
Total Expenses per Form 990$14,628,997
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

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$83,279

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-$1,845,000$350,126
C$8,385,000--$465,528
B$1,895,000-$560,000$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, Section B, Line 11B

“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, Section B, Line 12C

“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, Section B, Line 15B

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

Form 990, Part VI, Section C, Line 19

“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
2024-04-22
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
190
Volunteers
200

Preparer

Firm
Sutton Frost Cary LLP
Address
200 E Front St Suite 200, 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, 2023. 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, 2023, 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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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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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/OccupancyGrp/TotalAmt0884655
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IRS990/OnBehalfOfIssuerInd0false
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IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherExpensesGrp/FundraisingAmt126484
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt024643
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IRS990/OtherSalariesAndWagesGrp/TotalAmt07396809
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IRS990/PartialLiquidationInd0false
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IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt0846
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IRS990/PensionPlanContributionsGrp/FundraisingAmt01361
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IRS990/PrincipalOfficerNm0DAVID WILLIAMS
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IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt014487769
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt06555929
IRS990/PYProgramServiceRevenueAmt0297604
IRS990/PYRevenuesLessExpensesAmt0803134
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IRS990/RegularMonitoringEnfrcInd0true
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IRS990/RelatedOrganizationCtrlEntInd0false
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0true
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IRS990/RoyaltiesGrp/TotalAmt00
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0557824
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OPERATING LEASE LIABILITY
IRS990ScheduleD/RevenueSubtotalAmt014652616
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, 2023. 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, 2023, 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/TotalRevEtcAuditedFinclStmtAmt014652616
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt014628997
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
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IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$33,612,553
Liabilities
$28,993,761
Net assets
$4,618,792
Revenue
$14,652,616
Expenses
$14,628,997
Net income
$23,619
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