Virtual Learning Academy Charter School

Analysis

Virtual Learning Academy Charter School is a registered charity in United States, based in Exeter, NH. It received its IRS tax-exemption ruling in March 2009, 17 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Virtual Learning Academy Charter School reported income of $12.5m and spending of $13.7m, spending 110% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $10.3m to $12.5m (+21%), an average of +6.5% a year. The sharpest change came in the year to June 2021, when income rose by 47%. Over the whole period it spent 109% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Virtual Learning Academy Charter School sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within NH. Charities of a similar size with the same main cause include Blackfeet Community College ($12.5m), Newton Montessori School Inc ($12.5m) and Saint Francis School ($12.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 1.7% of the total. Compensation of current officers, directors and key employees was $152k (1.1% of expenses). Other salaries and wages came to $8.7m. At year end it held assets of $7.1m against liabilities of $9.1m, net assets of -$2.1m. It reported 345 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.