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Nonprofiteer
← VALLEY FORGE MILITARY ACADEMY FOUNDATION

Form 990 for tax year 2023

Filed by VALLEY FORGE MILITARY ACADEMY FOUNDATION.

Totals

Total revenue
$11,229,056
Total expenses
$10,971,428
Contributions and grants received
$4,088,040
Grants paid
$1,465,016
Program service revenue
$5,483,682
Investment income
$702,914
Other revenue
$954,420
Total assets, end of year
$45,718,541
Total liabilities, end of year
$10,827,183
Net assets or fund balances, end of year
$34,891,358
Program services expenses (Part IX)
$5,479,314
Management and general expenses
$4,945,219
Fundraising expenses
$546,895
Program service expenses (Part III)
$5,479,314

Program services were 49.9% 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

    $4,088,040

  • 1g · Noncash contributions included above

    $296,015

  • 2a · Program service revenue: TUITION AND FEES

    total $3,816,641 · related or exempt $3,816,641

  • 2b · Program service revenue: FACILITIES RENTAL VFMA

    total $880,000 · related or exempt $880,000

  • 2c · Program service revenue: SUMMER CAMP PROGRAM

    total $341,919 · related or exempt $341,919

  • 2d · Program service revenue: FIELD RENTALS - SUMMER CAMP

    total $323,722 · related or exempt $323,722

  • 2e · Program service revenue: FACILITIES RENTAL

    total $121,400 · related or exempt $121,400

  • 3 · Investment income

    total $486,420 · excluded $486,420

  • 6a · Gross rents

    real property $44,442

  • 6b · Less rental expenses

    real property $82,645

  • 6c · Rental income or loss

    real property -$38,203

  • 6d · Net rental income or loss

    total -$38,203 · unrelated business -$38,203

  • 7a · Gross sales of assets other than inventory

    securities $1,691,935 · other assets $800

  • 7b · Less cost or other basis and sales expenses

    securities $1,476,241 · other assets $0

  • 7c · Gain or loss

    securities $215,694 · other assets $800

  • 7d · Net gain or loss

    total $216,494 · excluded $216,494

  • 8b · Fundraising events: direct expenses

    $1,405

  • 8c · Net income from fundraising events

    total -$1,405 · excluded -$1,405

  • 11a · Other revenue: MANAGEMENT FEE VFMA

    total $691,680 · excluded $691,680

  • 11b · Other revenue: OTHER INCOME

    total $302,348 · excluded $302,348

  • 11e · Other revenue, total

    $994,028

Functional expenses

Part IX, the statement of functional expenses.

  • 3 · Grants to foreign organizations and individuals

    total $1,465,016 · program services $1,465,016

  • 5 · Compensation of officers, directors and key employees

    total $431,837 · management and general $431,837

  • 7 · Other salaries and wages

    total $3,193,158 · program services $1,464,262 · management and general $1,514,002 · fundraising $214,894

  • 9 · Other employee benefits

    total $219,589 · program services $72,778 · management and general $134,070 · fundraising $12,741

  • 11b · Fees: legal

    total $266,484 · management and general $266,484

  • 11c · Fees: accounting

    total $80,000 · management and general $80,000

  • 11f · Fees: investment management

    total $172,144 · management and general $172,144

  • 11g · Fees: other

    total $1,034,479 · program services $147,892 · management and general $873,965 · fundraising $12,622

  • 12 · Advertising and promotion

    total $51,553 · management and general $50,135 · fundraising $1,418

  • 13 · Office expenses

    total $601,048 · program services $49,953 · management and general $512,538 · fundraising $38,557

  • 14 · Information technology

    total $45,412 · management and general $45,412

  • 17 · Travel

    total $42,671 · program services $9,717 · management and general $20,691 · fundraising $12,263

  • 20 · Interest

    total $276,728 · management and general $276,728

  • 22 · Depreciation, depletion and amortization

    total $1,371,452 · management and general $1,371,452

  • 23 · Insurance

    total $684,629 · management and general $684,629

  • 24a · Other expenses: FOOD SERVICE

    total $490,148 · program services $490,148

  • 24b · Other expenses: UTILITIES

    total $415,055 · management and general $415,055

  • 24c · Other expenses: STUDENT PROGRAMS

    total $104,743 · program services $89,968 · management and general $7,759 · fundraising $7,016

  • 24d · Other expenses: UNIFORMS

    total $74,270 · program services $67,634 · management and general $6,636

  • 24e · All other expenses

    total -$48,988 · program services $1,621,946 · management and general -$1,918,318 · fundraising $247,384

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $2,375,363 · end of year $329,010

  • 3 · Pledges and grants receivable

    beginning of year $173,029

  • 4 · Accounts receivable

    beginning of year $141,086 · end of year $44,478

  • 7 · Other notes and loans receivable

    beginning of year $5,000,000 · end of year $4,500,000

  • 8 · Inventories for sale or use

    beginning of year $81,743 · end of year $100,944

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,033,785 · end of year $1,152,299

  • 10a · Land, buildings and equipment: cost or other basis

    $58,677,391

  • 10b · Land, buildings and equipment: accumulated depreciation

    $40,597,448

  • 10c · Land, buildings and equipment, net

    beginning of year $15,394,064 · end of year $18,079,943

  • 11 · Investments: publicly traded securities

    beginning of year $8,289,521 · end of year $8,358,460

  • 15 · Other assets

    beginning of year $11,222,194 · end of year $13,153,407

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,360,297 · end of year $2,878,633

  • 19 · Deferred revenue

    beginning of year $1,661,221 · end of year $1,625,969

  • 22 · Loans and payables to officers and key people

    beginning of year $600,000 · end of year $600,000

  • 23 · Secured mortgages and notes payable

    beginning of year $3,117,132 · end of year $5,722,581

  • 25 · Other liabilities

    beginning of year $880,440 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $9,156,245 · end of year $8,564,991

  • 28 · Net assets with donor restrictions

    beginning of year $23,935,450 · end of year $26,326,367

Mission and programs · 2023

Mission

TO EDUCATE CADETS, WITH IN AN ACADEMIC AND MILITARY ENVIRONMENT, TO BE FULLY PREPARED FOR THEIR RESPONSIBILITIES AS CITIZEN LEADERS WHO ARE MENTALLY ALERT, SOUND IN BODY, CONSIDERATE OF OTHERS AND POSSESSED OF LOVE OF GOD AND COUNTRY,HIGH MORAL STANDARDS AND STRONG CHARACTER TRAITS THAT WILL MAKE ALL A CREDIT TO THEMSELVES, THEIR FAMILIES, THEIR ALMA MATER, THEIR COUNTRY, AND THEIR GOD.

Activities or mission (Part I)

EDUCATIONAL INSTITUTION FOCUSED ON BUILDING LEADERSHIP THROUGH A MILITARY ENVIRONMENT .

  • VALLEY FORGE PROVIDES CADETS WITH AN EDUCATIONAL EXPERIENCE BUILT ON OUR FIVE CORNERSTONES: ACADEMIC EXCELLENCE, CHARACTER DEVELOPMENT, PERSONAL MOTIVATION, PHYSICAL DEVELOPMENT, AND LEADERSHIP. A VALLEY FORGE EDUCATION IS ROOTED IN QUALITY ACADEMIC PROGRAMS SUPPORTED BY LEADERSHIP RESPONSIBILITIES AND STRONG ATHLETIC AND EXTRACURRICULAR OPPORTUNITIES. THE COLLEGE HOSTED 79 STUDENTS DURING THE YEAR.

    Expenses $5,479,314 · Grants $1,465,016 · Revenue $4,158,307

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • John English

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Col Joseph A Bartasius

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • William R Floyd Jr

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mark Kelton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dr William H Martoccia Jr

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • J Kent McNew

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Conrad E Muhly IV

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dr Christine Anne Royce

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • George H Schildge

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jonathan Tratt

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Col Kenneth M Detreux

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Col Stuart Helgeson

    PRESIDENT

    Total calculated
    $185,188
    From this org
    $169,904
    From related orgs
    $0
    Other
    $15,284
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,904
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $15,284
    Filer's total
    $185,188

  • John Lanetti

    CHIEF FINANCIAL OFFICER

    Total calculated
    $132,442
    From this org
    $127,058
    From related orgs
    $0
    Other
    $5,384
    Hours/week
    40

  • William D G Mott

    COMMANDANT OF CADETS

    Total calculated
    $114,207
    From this org
    $102,891
    From related orgs
    $0
    Other
    $11,316
    Hours/week
    40

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • (2) CHARITABLE REMAINDER UNITRUSTS

    T · INVESTMENTS · PA

  • (1) CHARITABLE REMAINDER UNITRUST

    T · INVESTMENTS · PA

  • (3) CHARITABLE REMAINDER UNITRUST

    T · INVESTMENTS · PA

Provenance

Return type
form_990
Tax year
2023
Filed
13 May 2025
IRS schema version
2023v6.0
Source object
202541339349308424

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