Civic Intelligence

Virtual Learning Academy Charter School

990 • Fiscal year 2021 • EIN 56-2668724

Jul 01, 2020 to Jun 30, 2021 • Filed on Jan 11, 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

47th percentile

0.15x

Higher debt load relative to assets than 47% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

19th percentile

0.05x

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

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

8th percentile

-19%

Higher net margin than 8% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

47th percentile

$162,626

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

88th percentile

43%

Faster asset growth than 88% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

78th percentile

47%

Faster revenue growth than 78% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Assets

Up

$5,140,860

Up $1,536,440 (+43%) from 2020

Net Assets

Up

$4,393,030

Up $1,986,208 (+83%) from 2020

Liabilities

Down

$747,830

Down $449,768 (-38%) from 2020

Revenue

Up

$15,254,520

Up $4,908,642 (+47%) from 2020

Expenses

Up

$18,160,315

Up $8,344,632 (+85%) from 2020

Net Income

Down

-$2,905,795

Down $3,435,990 (-648%) from 2020

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

2021

Assets$5,140,860
Liabilities$747,830
Net Assets$4,393,030

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

2021

Revenue$15,254,520
Expenses$18,160,315
Net Income-$2,905,795
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Jan 11, 2022
Return Version
2020v4.1
Gross Receipts
$15,254,520
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$2,500,515$2,232,266▼ $268,249
Accounts Receivable$639,571$2,185,497▲ $1,545,926
Cash and Non-Interest-Bearing Accounts$250,318$391,879▲ $141,561
Prepaid Expenses and Deferred Charges$152,853$246,143▲ $93,290
Land, Buildings, and Equipment, Net$61,163$85,075▲ $23,912
Total Assets$3,604,420$5,140,860▲ $1,536,440
Liabilities
Accounts Payable and Accrued Expenses$1,165,438$665,272▼ $500,166
Deferred Revenue$32,160$82,558▲ $50,398
Other Liabilities-$0-
Total Liabilities$1,197,598$747,830▼ $449,768
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,406,822$4,393,030▲ $1,986,208
Total Net Assets Fund Balance$2,406,822$4,393,030▲ $1,986,208
Total Liabilities and Net Assets / Fund Balance$3,604,420$5,140,860▲ $1,536,440

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$83,552$198,169-
Leasehold Improvements$1,523$16,599-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Steve KoosakoskiCEOFT$162,626-$162,626
Steve Koosakoski--$147,891$14,735$162,626
Tony BaldasaroChief Operating OfficerFT$106,634-$106,634

Board Members and Trustees

NameTitle
Joseph LovejoyChair
Dr Kent ChamberlinVice Chair
Jerry FrewTrustee
Jessica LyonsTrustee
Kimberly CaseyTrustee
DR Mark JoyceSecretary/Clerk
Matthew TeamerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$15,070,081
Program Service Revenue
$182,210
Investment Income
$2,229
Other Revenue
$0
All Other Contributions
$102,636
Change in Net Assets
$-2,905,795

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$16,117,475
Other Expenses$2,042,840
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$8,607,050$467,077$0$9,074,127
Other Employee Benefits$5,435,456$33,962$0$5,469,418
Pension Plan Contributions$695,305$29,891$0$725,196
Payroll Taxes$656,175$41,509$0$697,684
Information Technology$600,672$38,341$0$639,013
Other Expenses$341,858$21,821$0$363,679
Advertising$202,067$12,898$0$214,965
Current Officers, Directors, Trustees, and Key Employees$75,525$75,525$0$151,050
Office Expenses$0$56,364$0$56,364
Occupancy$5,698$22,791$0$28,489
Insurance$23,223$1,482$0$24,705
Depreciation Depletion$21,329$1,361$0$22,690
Fees for Services Legal$0$17,468$0$17,468
Fees for Services Accounting$0$10,432$0$10,432
Travel$1,838$117$0$1,955
Total Functional Expenses$17,289,491$870,824$0$18,160,315

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
Federal Income Taxes$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
2022-01-11
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
347
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/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt041509
IRS990/PayrollTaxesGrp/ProgramServicesAmt0656175
IRS990/PayrollTaxesGrp/TotalAmt0697684
IRS990/PensionPlanContributionsGrp/FundraisingAmt00
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt029891
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0695305
IRS990/PensionPlanContributionsGrp/TotalAmt0725196
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0152853
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0246143
IRS990/PrincipalOfficerNm0Steve Kossakoski
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/Desc0Tuition
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0182210
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt010174080
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt033670
IRS990/PYOtherExpensesAmt01459247
IRS990/PYProgramServiceRevenueAmt0138128
IRS990/PYRevenuesLessExpensesAmt0530195
IRS990/PYSalariesCompEmpBnftPaidAmt08356436
IRS990/PYTotalExpensesAmt09815683
IRS990/PYTotalRevenueAmt010345878
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-2905795
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt015254521
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02500515
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02232266
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt083552
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0198169
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0281721
IRS990ScheduleD/ExpensesSubtotalAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt01523
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt016599
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt018122
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal Income Taxes
IRS990ScheduleD/RevenueSubtotalAmt00
IRS990ScheduleD/TotalBookValueLandBuildingsAmt085075
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/ExplanationTxt0The 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/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0147891
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt014735
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Steve Koosakoski
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0162626
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleJ/WrittenEmploymentContractInd0X
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/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03604420
IRS990/TotalAssetsEOYAmt05140860
IRS990/TotalAssetsGrp/BOYAmt03604420
IRS990/TotalAssetsGrp/EOYAmt05140860
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt015070081
IRS990/TotalEmployeeCnt0347
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0870824
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt017289491
IRS990/TotalFunctionalExpensesGrp/TotalAmt018160315
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01197598
IRS990/TotalLiabilitiesEOYAmt0747830
IRS990/TotalLiabilitiesGrp/BOYAmt01197598
IRS990/TotalLiabilitiesGrp/EOYAmt0747830
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02406822
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04393030

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$7.08$9.15$2.06$12.5$13.7$1.24
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.36$0.62$3.74$12.0$13.1$1.09
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.14$0.75$4.39$15.3$18.2$2.91
2020Summary only. Only limited summary data is available for this year.$3.60$1.20$2.41$10.3$9.82$0.53
2019Summary only. Only limited summary data is available for this year.$2.92$1.05$1.88$9.62$9.06$0.56
2018Summary only. Only limited summary data is available for this year.$2.20$0.88$1.32$9.03$8.09$0.93
2017Summary only. Only limited summary data is available for this year.$1.10$0.72$0.39$7.64$7.56$0.08
2016Summary only. Only limited summary data is available for this year.$0.84$0.53$0.31$7.07$7.16$0.09
2015Summary only. Only limited summary data is available for this year.$1.15$0.75$0.39$6.30$6.60$0.30
2014Summary only. Only limited summary data is available for this year.$1.54$0.85$0.69$5.86$5.32$0.54
2013Summary only. Only limited summary data is available for this year.$0.55$0.02$0.53$3.88$4.17$0.29
2012Summary only. Only limited summary data is available for this year.$0.70$0.30$0.40$3.30$3.42$0.13
2011Summary only. Only limited summary data is available for this year.$0.73$0.19$0.54$3.05$2.79$0.26
Peer Organizations

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