Form 990 for tax year 2023
Filed by SILICON VALLEY ACADEMY PROJECT.
Totals
- Total revenue
- $2,473,700
- Total expenses
- $2,451,635
- Contributions and grants received
- $299,039
- Grants paid
- $0
- Program service revenue
- $2,171,380
- Investment income
- $3,281
- Other revenue
- $0
- Total assets, end of year
- $1,573,621
- Total liabilities, end of year
- $251,590
- Net assets or fund balances, end of year
- $1,322,031
- Program services expenses (Part IX)
- $2,206,472
- Management and general expenses
- $223,098
- Fundraising expenses
- $22,065
- Program service expenses (Part III)
- $2,206,472
Program services were 90.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$299,039
-
2a · Program service revenue: REGISTRATION
total $6,441 · related or exempt $6,441
-
2b · Program service revenue: TUITION
total $2,164,939 · related or exempt $2,164,939
-
3 · Investment income
total $3,281 · excluded $3,281
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $1,292,778 · program services $1,163,500 · management and general $117,643 · fundraising $11,635
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $75,599 · program services $68,039 · management and general $6,880 · fundraising $680
-
10 · Payroll taxes
total $92,619 · program services $83,357 · management and general $8,428 · fundraising $834
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $365 · program services $329 · management and general $33 · fundraising $3
-
13 · Office expenses
total $6,168 · program services $5,551 · management and general $561 · fundraising $56
-
14 · Information technology
total $24,270 · program services $21,843 · management and general $2,209 · fundraising $218
-
15 · Royalties
total $0
-
16 · Occupancy
total $564,543 · program services $508,089 · management and general $51,373 · fundraising $5,081
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $3,341 · program services $3,007 · management and general $304 · fundraising $30
-
24a · Other expenses: All other expenses-See SCH O0
total $255,128 · program services $229,615 · management and general $23,217 · fundraising $2,296
-
24b · Other expenses: Janitorial Expenses
total $73,233 · program services $65,910 · management and general $6,664 · fundraising $659
-
24c · Other expenses: utilities
total $56,983 · program services $51,285 · management and general $5,185 · fundraising $513
-
24d · Other expenses: Postage and Shipping
total $4,528 · program services $4,075 · management and general $412 · fundraising $41
-
24e · All other expenses
total $2,080 · program services $1,872 · management and general $189 · fundraising $19
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $814,044 · end of year $922,078
-
2 · Savings and temporary cash investments
beginning of year $569,976 · end of year $558,514
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
end of year $0
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$135,914
-
10b · Land, buildings and equipment: accumulated depreciation
$87,925
-
10c · Land, buildings and equipment, net
beginning of year $48,019 · end of year $47,989
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $45,040 · end of year $45,040
-
25 · Other liabilities
beginning of year $177,113 · end of year $251,590
-
27 · Net assets without donor restrictions
beginning of year $1,299,966 · end of year $1,322,031
Mission and programs · 2023
Mission
Silicon Valley Academy's mission is to empower students to meet their highest potential, nurture their social-emotional growth, and foster their commitment to serve society. As a full-time pre-kindergarten through 8th grade school, Silicon Valley Academy provides a high-quality elementary and secondary education to local youth by offering standards-based, culturally relevant curriculum, professional development opportunities for teachers and staff, and community outreach programs. Additionally, Silicon Valley Academy proudly serves a socio-economically diverse student body offering tuition assistance and scholarships to students in need.
-
Silicon Valley Academy?s vision is to develop children?s love of learning, so they become lifelong learners and consciousness contributing members of society. Our current programs have implemented the GLAD Model (Guided Language Acquisition Design) to help our vision become a reality in the daily lives of our students. During the 2023 academic year, SVA is proud to have sponsored the education of over 10 socially disadvantaged children. SVA was able to partner with different organizations, such as Rahima Foundation, to help in the support of the socially disadvantaged at our school. SVA?s student population grew by about 20%. As a result, we hired additional staff members to continue to offer support, scaffolding, and guidance to our students, including those who struggle. Furthermore, SVA implemented a new makerspace curriculum for our KG-8th grade students. Lastly, SVA expanded its after school clubs and athletic leagues.
Expenses $2,206,472 · Grants $299,039
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Zeba HuqZEBA HUQ
President
- Total calculated
- $0
- Hours/week
- 5
-
Deniz DogruerDENIZ DOGRUER
Treasurer
- Total calculated
- $0
- Hours/week
- 5
-
Rashid HussainRASHID HUSSAIN
Trustee
- Total calculated
- $0
- Hours/week
- 5
-
Imran ShafiIMRAN SHAFI
Secretary
- Total calculated
- $0
- Hours/week
- 5
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 2 October 2024
- IRS schema version
- 2023v5.1
- Source object
- 202402769349301440
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