Civic Intelligence

Virtual Learning Academy Charter School

990 • Fiscal year 2022 • EIN 56-2668724

Jul 01, 2021 to Jun 30, 2022 • Filed on Nov 08, 2022

30 Linden StreetExeter, NH 03833

(603) 778-2500

Siviq Scores

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

Liabilities / Assets

46th percentile

0.14x

Higher debt load relative to assets than 46% of similar nonprofits.

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

Liabilities / Revenue

19th percentile

0.05x

Higher debt load relative to revenue than 19% of similar nonprofits.

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

Net Margin

17th percentile

-9.1%

Higher net margin than 17% of similar nonprofits.

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

Top Officer Pay

46th percentile

$165,737

Higher top officer pay than 46% 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

10th percentile

-15%

Faster asset growth than 10% of similar nonprofits.

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

Revenue Growth

17th percentile

-21%

Faster revenue growth than 17% of similar nonprofits.

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

Assets

Down

$4,364,365

Down $776,495 (-15%) from 2021

Net Assets

Down

$3,740,418

Down $652,612 (-15%) from 2021

Liabilities

Down

$623,947

Down $123,883 (-17%) from 2021

Revenue

Down

$12,032,123

Down $3,222,397 (-21%) from 2021

Expenses

Down

$13,125,345

Down $5,034,970 (-28%) from 2021

Net Income

Up

-$1,093,222

Up $1,812,573 (+62%) from 2021

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0-$5.0MAssets 2011: $729,880Liabilities 2011: $187,416Net Assets 2011: $542,4642011Assets 2012: $702,489Liabilities 2012: $298,024Net Assets 2012: $404,4652012Assets 2013: $550,107Liabilities 2013: $22,296Net Assets 2013: $527,8112013Assets 2014: $1,544,657Liabilities 2014: $854,495Net Assets 2014: $690,1612014Assets 2015: $1,145,910Liabilities 2015: $752,330Net Assets 2015: $393,5802015Assets 2016: $839,759Liabilities 2016: $530,483Net Assets 2016: $309,2762016Assets 2017: $1,102,005Liabilities 2017: $715,943Net Assets 2017: $386,0622017Assets 2018: $2,202,410Liabilities 2018: $884,945Net Assets 2018: $1,317,4642018Assets 2019: $2,922,189Liabilities 2019: $1,045,562Net Assets 2019: $1,876,6272019Assets 2020: $3,604,420Liabilities 2020: $1,197,598Net Assets 2020: $2,406,8222020Assets 2021: $5,140,860Liabilities 2021: $747,830Net Assets 2021: $4,393,0302021Assets 2022: $4,364,365Liabilities 2022: $623,947Net Assets 2022: $3,740,4182022Assets 2023: $7,084,622Liabilities 2023: $9,149,228Net Assets 2023: -$2,064,6062023

Highlighted filing

2022

Assets$4,364,365
Liabilities$623,947
Net Assets$3,740,418

Operations Trend

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

$20M$10M$0-$10MRevenue 2011: $3,048,557Expenses 2011: $2,786,729Net Income 2011: $261,8282011Revenue 2012: $3,296,868Expenses 2012: $3,423,172Net Income 2012: -$126,3042012Revenue 2013: $3,878,722Expenses 2013: $4,165,106Net Income 2013: -$286,3842013Revenue 2014: $5,861,968Expenses 2014: $5,318,371Net Income 2014: $543,5972014Revenue 2015: $6,304,036Expenses 2015: $6,600,617Net Income 2015: -$296,5812015Revenue 2016: $7,073,140Expenses 2016: $7,163,044Net Income 2016: -$89,9042016Revenue 2017: $7,640,874Expenses 2017: $7,564,087Net Income 2017: $76,7872017Revenue 2018: $9,025,733Expenses 2018: $8,094,331Net Income 2018: $931,4022018Revenue 2019: $9,616,300Expenses 2019: $9,057,138Net Income 2019: $559,1622019Revenue 2020: $10,345,878Expenses 2020: $9,815,683Net Income 2020: $530,1952020Revenue 2021: $15,254,520Expenses 2021: $18,160,315Net Income 2021: -$2,905,7952021Revenue 2022: $12,032,123Expenses 2022: $13,125,345Net Income 2022: -$1,093,2222022Revenue 2023: $12,484,597Expenses 2023: $13,727,495Net Income 2023: -$1,242,8982023

Highlighted filing

2022

Revenue$12,032,123
Expenses$13,125,345
Net Income-$1,093,222
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Nov 8, 2022
Return Version
2021v4.1
Gross Receipts
$12,032,123
Mission and Program Overview

Mission

To operate a new hampshire public charter school.

To operate a New Hampshire public charter school in accordance with Chapter 194B of the NH RSA and to provide other educational opportunities using new and distance learning technologies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,232,266$1,534,761▼ $697,505
Accounts Receivable$2,185,497$1,506,756▼ $678,741
Cash and Non-Interest-Bearing Accounts$391,879$860,948▲ $469,069
Prepaid Expenses and Deferred Charges$246,143$360,443▲ $114,300
Land, Buildings, and Equipment, Net$85,075$101,457▲ $16,382
Total Assets$5,140,860$4,364,365▼ $776,495
Liabilities
Accounts Payable and Accrued Expenses$665,272$623,947▼ $41,325
Deferred Revenue$82,558--
Other Liabilities$0$0→ $0
Total Liabilities$747,830$623,947▼ $123,883
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,393,030$3,740,418▼ $652,612
Total Net Assets Fund Balance$4,393,030$3,740,418▼ $652,612
Total Liabilities and Net Assets / Fund Balance$5,140,860$4,364,365▼ $776,495

Asset Categories

AssetBook ValueDepreciationBasis
Land$0--
Equipment$100,795$222,396-
Leasehold Improvements$662$17,459-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Steve KoosakoskiCEOFT$165,737$165,737
Anthony BaldasaroChief Operating OfficerFT$111,545$111,545

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$11,867,405
Program Service Revenue
$162,067
Investment Income
$2,651
Other Revenue
$0
All Other Contributions
$34,230
Change in Net Assets
$-1,093,222

Audited Revenue Reconciliation

Revenue per Audited Statements
$0
Total Revenue per Audited Statements
$0
Total Revenue per Form 990
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$10,963,585
Other Expenses$2,161,760
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$8,173,362$566,108$0$8,739,470
Pension Plan Contributions$854,049$30,530$0$884,579
Information Technology$677,537$43,247$0$720,784
Payroll Taxes$630,301$48,621$0$678,922
Other Employee Benefits$484,352$37,346$0$521,698
Other Expenses$461,240$29,441$0$490,681
Advertising$135,933$8,677$0$144,610
Current Officers, Directors, Trustees, and Key Employees$69,458$69,458$0$138,916
Office Expenses$0$52,964$0$52,964
Occupancy$7,113$28,453$0$35,566
Insurance$24,208$1,545$0$25,753
Depreciation Depletion$23,582$1,505$0$25,087
Fees for Services Legal$0$18,707$0$18,707
Fees for Services Accounting$0$12,235$0$12,235
Travel$2,350$150$0$2,500
Total Functional Expenses$12,138,386$986,959$0$13,125,345

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$0
Total Expenses per Audited Statements$0
Total Expenses per 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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
None$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
Filing and Contact Details

Filer

Filer Name
Virtual Learning Academy Charter School
EIN
56-2668724
Phone
6037782500
Address
30 Linden Street, Exeter, NH 03833

Signing Officer

Name
Steve Kossakoski
Title
CEO
Phone
6037782500
Signed
2022-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steve Kossakoski
Formed
2007
Legal Domicile
Nh
Voting Board Members
7
Independent Board Members
7
Employees
364
Volunteers
7

Preparer

Firm
Richard Schoonmaker EA
Address
1918 SE Port St Lucie Blvd, Port St Lucie, FL 34952
Preparer
Richard Schoonmaker
Phone
7722148887
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

The 990 Form is distributed before a regular meeting of the Trustees and is reviewed at the meeting

Pt VI, Line 15B

Compensation is determined by independent trustees based on comparable NH school data and availablity of funds

Pt VI, Line 19

The organization makes its governing documents, conflicts of interest policy and financial Statements available to the public.

Pt VI, Line 15A

Compensation is determined by independent trustees based on comparable NH School date and availablity of funds

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IRS990/PayrollTaxesGrp/ProgramServicesAmt0630301
IRS990/PayrollTaxesGrp/TotalAmt0678922
IRS990/PensionPlanContributionsGrp/FundraisingAmt00
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt030530
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0854049
IRS990/PensionPlanContributionsGrp/TotalAmt0884579
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0246143
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0360443
IRS990/PrincipalOfficerNm0Steve Kossakoski
IRS990/PriorPeriodAdjustmentsAmt0440614
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/Desc0Tuition
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0162067
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt015070081
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt02229
IRS990/PYOtherExpensesAmt02042839
IRS990/PYProgramServiceRevenueAmt0182210
IRS990/PYRevenuesLessExpensesAmt01986206
IRS990/PYSalariesCompEmpBnftPaidAmt011225475
IRS990/PYTotalExpensesAmt013268314
IRS990/PYTotalRevenueAmt015254520
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-1093222
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt012032123
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02232266
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01534761
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt0100795
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0222396
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0323191
IRS990ScheduleD/ExpensesSubtotalAmt00
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0662
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt017459
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt018121
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0None
IRS990ScheduleD/RevenueSubtotalAmt00
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0101457
IRS990ScheduleD/TotalExpensesPerForm990Amt00
IRS990ScheduleD/TotalLiabilityAmt00
IRS990ScheduleD/TotalRevenuePerForm990Amt00
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt00
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt00
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0false
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0false
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0VLACS is open to all students on an ongoing basis, and therefore we do not have a solicitation period. We do however publish our non discrimination statement on our website where it is visible to all students when reading about our school or enrolling in our programs. The policy is available to the general community on our website
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1Aid has never been rejected
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 6b
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0150929
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt014808
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Steve Koosakoski
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0165737
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The 990 Form is distributed before a regular meeting of the Trustees and is reviewed at the meeting
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Compensation is determined by independent trustees based on comparable NH school data and availablity of funds
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization makes its governing documents, conflicts of interest policy and financial Statements available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Compensation is determined by independent trustees based on comparable NH School date and availablity of funds
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 15a
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NH
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt05140860
IRS990/TotalAssetsEOYAmt04364365
IRS990/TotalAssetsGrp/BOYAmt05140860
IRS990/TotalAssetsGrp/EOYAmt04364365
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt011867405
IRS990/TotalEmployeeCnt0364
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0986959
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt012138386
IRS990/TotalFunctionalExpensesGrp/TotalAmt013125345
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0747830

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