Civic Intelligence

Vision Academy Charter School

990 • Fiscal year 2022 • EIN 47-2256408

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

Organization ProfileN/A
716 Emerson AveEast Lansdowne, PA 19050

(484) 466-2124

Siviq Scores

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

Liabilities / Assets

68th percentile

0.36x

Higher debt load relative to assets than 68% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

62nd percentile

0.38x

Higher debt load relative to revenue than 62% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

78th percentile

28%

Higher net margin than 78% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$147,380

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

97th percentile

147%

Faster asset growth than 97% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

88th percentile

59%

Faster revenue growth than 88% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$10,685,647

Up $6,355,990 (+147%) from 2021

Net Assets

Up

$6,833,652

Up $2,866,617 (+72%) from 2021

Liabilities

Up

$3,851,995

Up $3,489,373 (+962%) from 2021

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin78th percentile

Revenue

Up

$10,210,372

Up $3,790,867 (+59%) from 2021

Expenses

Up

$7,343,755

Up $2,043,086 (+39%) from 2021

Net Income

Up

$2,866,617

Up $1,747,781 (+156%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$15M$10M$5.0M$0Assets 2016: $829,197Liabilities 2016: $247,782Net Assets 2016: $581,4152016Assets 2017: $1,453,747Liabilities 2017: $169,032Net Assets 2017: $1,284,7152017Assets 2018: $1,822,282Liabilities 2018: $356,178Net Assets 2018: $1,466,1042018Assets 2019: $2,334,911Liabilities 2019: $481,946Net Assets 2019: $1,852,9652019Assets 2020: $3,317,162Liabilities 2020: $468,963Net Assets 2020: $2,848,1992020Assets 2021: $4,329,657Liabilities 2021: $362,622Net Assets 2021: $3,967,0352021Assets 2022: $10,685,647Liabilities 2022: $3,851,995Net Assets 2022: $6,833,6522022Assets 2023: $11,369,429Liabilities 2023: $4,769,957Net Assets 2023: $6,599,4722023

Highlighted filing

2022

Assets$10,685,647
Liabilities$3,851,995
Net Assets$6,833,652
Open 2022 Filing

Operations Trend

Revenue Growth88th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2016: $2,539,164Expenses 2016: $1,918,843Net Income 2016: $620,3212016Revenue 2017: $3,468,704Expenses 2017: $2,765,404Net Income 2017: $703,3002017Revenue 2018: $3,852,235Expenses 2018: $3,670,846Net Income 2018: $181,3892018Revenue 2019: $4,756,999Expenses 2019: $4,370,138Net Income 2019: $386,8612019Revenue 2020: $5,876,740Expenses 2020: $4,881,506Net Income 2020: $995,2342020Revenue 2021: $6,419,505Expenses 2021: $5,300,669Net Income 2021: $1,118,8362021Revenue 2022: $10,210,372Expenses 2022: $7,343,755Net Income 2022: $2,866,6172022Revenue 2023: $8,341,757Expenses 2023: $8,575,938Net Income 2023: -$234,1812023

Highlighted filing

2022

Revenue$10,210,372
Expenses$7,343,755
Net Income$2,866,617
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.1
Gross Receipts
$10,210,372
Mission and Program Overview

Mission

The mission of vision academy charter school is to prepare students in kindergarten through 8th grade to become responsible and articulate students and citizens by using a comprehensive curriculum designed to foster academic success and current technology to build self-reliance.

The mission of vision academy charter school is to prepare students in kindergarten through eighth grade to become responsible and articulate students and citizens by using a comprehensive curriculum designed to foster academic success and current technology to build self-reliance.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,114,493$6,882,391▲ $4,767,898
Pledges and Grants Receivable$74,215$2,461,995▲ $2,387,780
Cash and Non-Interest-Bearing Accounts$1,785,319$902,217▼ $883,102
Accounts Receivable$336,273$208,682▼ $127,591
Prepaid Expenses and Deferred Charges$19,357$6,120▼ $13,237
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$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$4,329,657$10,685,647▲ $6,355,990
Other Assets Total-$224,242-
Liabilities
Accounts Payable and Accrued Expenses$362,622$3,851,995▲ $3,489,373
Total Liabilities$362,622$3,851,995▲ $3,489,373
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,967,035$6,833,652▲ $2,866,617
Total Net Assets Fund Balance$3,967,035$6,833,652▲ $2,866,617
Total Liabilities and Net Assets / Fund Balance$4,329,657$10,685,647▲ $6,355,990

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$4,817,823$195,734$5,013,557
Buildings$1,624,884$41,664$1,666,548
Equipment$152,947$223,882$376,829
Land$280,000-$280,000
Other Land Buildings$6,737$1,595$8,332
Compensation and Service Providers
Top Officer Pay39th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ky AdderleyCEOFT$128,338$19,042$147,380

Board Members and Trustees

NameTitle
Gokhan SekerPresident
Kakageldi HommadovMember
Taiwo Opaleye-enakhimionMember
Jalil NasibliSecretary
Erion PeshkepiaTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
American Reliable Tasks Contracting LLCConstruction Services1825 WATKINS STREET, Bethlehem, PA 18017$4,197,363
Preferred Meal Systems INCFood Services4135 BIRNEY AVENUE, Moosic, PA 18507$147,466
Delmarva Fibercom LLCTelecommunication Service432 S BARRINGTON COURT, Newark, DE 19702$105,950
Delaware County Intermediate UnitTherapy Services200 YALE AVE, Morton, PA 19070$101,375
Revenue and Support

Revenue Composition

Contributions and Grants
$3,487,097
Program Service Revenue
$6,723,275
Investment Income
$0
Other Revenue
$0
All Other Contributions
$9
Change in Net Assets
$2,866,617

Audited Revenue Reconciliation

Revenue per Audited Statements
$10,210,372
Total Revenue per Audited Statements
$10,210,372
Total Revenue per Form 990
$10,210,372
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,743,754
Other Expenses$2,600,001
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,649,773$949,355-$3,599,128
Other Employee Benefits$364,830$149,015-$513,845
Depreciation Depletion$479,362--$479,362
All Other Expenses$408,219$69,820-$478,039
Occupancy$291,203$101,001-$392,204
Payroll Taxes$228,379$93,282-$321,661
Pension Plan Contributions$130,636$53,358-$183,994
Other Expenses$163,830--$163,830
Current Officers, Directors, Trustees, and Key Employees-$125,126-$125,126
Interest$123,878--$123,878
Fees for Services Legal-$115,460-$115,460
Information Technology-$94,693-$94,693
Fees for Services Accounting-$65,406-$65,406
Insurance$44,764$18,284-$63,048
Advertising-$21,491-$21,491
Office Expenses-$15,999-$15,999
Travel-$3,301-$3,301
Total Functional Expenses$5,468,164$1,875,591$0$7,343,755

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,343,755
Total Expenses per Audited Statements$7,343,755
Total Expenses per Form 990$7,343,755
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-
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

“No review was or will be conducted.”

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

“Monitored through regular board meetings.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The board determines compensation for the ceo and all employees using comparable data from other charter schools.”

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

“The board determines compensation for the ceo and all employees using comparable data from other charter schools.”

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

“Governing documents, conflict of interest policies and financial statements are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Vision Academy Charter School
EIN
47-2256408
Phone
4844662124
Address
716 EMERSON AVE, EAST LANSDOWNE, PA 19050

Signing Officer

Name
Ky Adderley
Title
CEO
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ky Adderley
Formed
2014
Legal Domicile
Pa
Voting Board Members
5
Independent Board Members
5
Employees
91
Volunteers
5

Preparer

Firm
Sd Associates Pc
Address
300 Yorktown Plaza, Elkins Park, PA 19027
Preparer
Keith J Drobnes
Phone
2155175600
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 Service Code. The School adopted the provisions of ASC 740-10, Accounting for Uncertainty in Income Taxes. Management evaluated the School's tax positions and concluded that the School had taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance. The School files a Return of Organizations Exempt from Income Tax annually. The School's returns for 2021, 2020, and 2019 are subject to examination by the IRS, generally for three years after they were filed.”

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IRS990/MissionDesc0THE MISSION OF VISION ACADEMY CHARTER SCHOOL IS TO PREPARE STUDENTS IN KINDERGARTEN THROUGH EIGHTH GRADE TO BECOME RESPONSIBLE AND ARTICULATE STUDENTS AND CITIZENS BY USING A COMPREHENSIVE CURRICULUM DESIGNED TO FOSTER ACADEMIC SUCCESS AND CURRENT TECHNOLOGY TO BUILD SELF-RELIANCE.
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IRS990/OtherExpensesGrp/Desc3INSTRUCTIONAL SUPPLIES
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IRS990/PrincipalOfficerNm0KY ADDERLEY
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IRS990/ProgramServiceRevenueGrp/Desc0AFTER CARE
IRS990/ProgramServiceRevenueGrp/Desc1OTHER
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The School is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Service Code. The School adopted the provisions of ASC 740-10, Accounting for Uncertainty in Income Taxes. Management evaluated the School's tax positions and concluded that the School had taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance. The School files a Return of Organizations Exempt from Income Tax annually. The School's returns for 2021, 2020, and 2019 are subject to examination by the IRS, generally for three years after they were filed.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06882391
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
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IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
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IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0CHARTER SCHOOL LAW PROHIBITS DISCRIMINATION
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MONITORED THROUGH REGULAR BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD DETERMINES COMPENSATION FOR THE CEO AND ALL EMPLOYEES USING COMPARABLE DATA FROM OTHER CHARTER SCHOOLS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD DETERMINES COMPENSATION FOR THE CEO AND ALL EMPLOYEES USING COMPARABLE DATA FROM OTHER CHARTER SCHOOLS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/TotalGrossUBIAmt00
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$10,685,647
Liabilities
$3,851,995
Net assets
$6,833,652
Revenue
$10,210,372
Expenses
$7,343,755
Net income
$2,866,617
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$11.4$4.77$6.60$8.34$8.58$0.23
2022Detailed filing. Detailed filing data is available for this year.$10.7$3.85$6.83$10.2$7.34$2.87
2021Summary only. Only limited summary data is available for this year.$4.33$0.36$3.97$6.42$5.30$1.12
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.32$0.47$2.85$5.88$4.88$1.00
2019Summary only. Only limited summary data is available for this year.$2.33$0.48$1.85$4.76$4.37$0.39
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.82$0.36$1.47$3.85$3.67$0.18
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.45$0.17$1.28$3.47$2.77$0.70
2016Detailed filing. Detailed filing data is available for this year.$0.83$0.25$0.58$2.54$1.92$0.62
Peer Organizations

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