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Nonprofiteer
← VILLAGE ACADEMIES INC

Form 990 for tax year 2022

Filed by VILLAGE ACADEMIES INC.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2022 , filed 16 July 2024. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Listed only on the earlier return

  • Appenteng Kofi
  • Barnett Robert
  • Couric Katie
  • Gray Jonathan
  • Horing Ellen
  • Jackman Hugh
  • Kempner Thomas L Jr
  • Lewis Edward
  • Moore Lori
  • Och Jane
  • Rudin Fiona
  • Sine Samira
  • Wilpon Jeff
  • Wilson Melba

Listed only on the later return

  • Edward Lewis
  • Ellen Horing
  • Fiona Rudin
  • Hugh Jackman
  • Jane Och
  • Jeff Wilpon
  • Jonathan Gray
  • Katie Couric
  • Kofi Appenteng
  • Lori Moore
  • Melba Wilson
  • Robert Barnett
  • Samira Sine
  • Thomas L Kempner Jr

Totals

Total revenue
$7,083,616
Total expenses
$9,882,348
Contributions and grants received
$2,528,728
Grants paid
$825,226
Program service revenue
$4,259,434
Investment income
$295,454
Other revenue
$0
Total assets, end of year
$54,753,958
Total liabilities, end of year
$12,719,805
Net assets or fund balances, end of year
$42,034,153
Program services expenses (Part IX)
$8,477,245
Management and general expenses
$759,160
Fundraising expenses
$645,943
Program service expenses (Part III)
$8,477,245

Program services were 85.8% 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

    $2,528,728

  • 1g · Noncash contributions included above

    $112,779

  • 2a · Program service revenue: MANAGEMENT FEES

    total $3,106,402 · related or exempt $3,106,402

  • 2b · Program service revenue: RENTAL INCOME- SCHOOL

    total $1,153,032 · related or exempt $1,153,032

  • 3 · Investment income

    total $294,418 · excluded $294,418

  • 7a · Gross sales of assets other than inventory

    securities $1,112,779

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

    securities $1,111,743

  • 7c · Gain or loss

    securities $1,036

  • 7d · Net gain or loss

    total $1,036 · excluded $1,036

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $819,000 · program services $819,000

  • 2 · Grants to domestic individuals

    total $6,226 · program services $6,226

  • 5 · Compensation of officers, directors and key employees

    total $906,552 · program services $401,999 · management and general $459,225 · fundraising $45,328

  • 7 · Other salaries and wages

    total $3,343,037 · program services $2,952,180 · management and general $48,422 · fundraising $342,435

  • 8 · Pension plan contributions

    total $127,331 · program services $110,324 · management and general $4,278 · fundraising $12,729

  • 9 · Other employee benefits

    total $352,681 · program services $292,121 · management and general $26,816 · fundraising $33,744

  • 10 · Payroll taxes

    total $277,085 · program services $220,083 · management and general $31,562 · fundraising $25,440

  • 11b · Fees: legal

    total $3,815 · program services $3,030 · management and general $435 · fundraising $350

  • 11c · Fees: accounting

    total $172,051 · program services $122,163 · management and general $35,472 · fundraising $14,416

  • 11g · Fees: other

    total $463,472 · program services $363,945 · management and general $55,107 · fundraising $44,420

  • 12 · Advertising and promotion

    total $457,129 · program services $456,740 · management and general $215 · fundraising $174

  • 13 · Office expenses

    total $201,745 · program services $160,242 · management and general $22,980 · fundraising $18,523

  • 14 · Information technology

    total $194,404 · program services $154,411 · management and general $22,144 · fundraising $17,849

  • 16 · Occupancy

    total $171,636 · program services $136,326 · management and general $19,552 · fundraising $15,758

  • 17 · Travel

    total $39,868 · program services $31,058 · management and general $4,878 · fundraising $3,932

  • 19 · Conferences, conventions and meetings

    total $138,924 · program services $138,924

  • 20 · Interest

    total $526,721 · program services $526,721

  • 22 · Depreciation, depletion and amortization

    total $969,839 · program services $969,839

  • 23 · Insurance

    total $90,684 · program services $72,029 · management and general $10,329 · fundraising $8,326

  • 24a · Other expenses: STUDENT RECRUITING

    total $410,649 · program services $410,649

  • 24b · Other expenses: STUDENT ENRICHMENT

    total $155,776 · program services $123,729 · management and general $17,745 · fundraising $14,302

  • 24c · Other expenses: FUNDRAISING EXPENSES

    total $48,217 · fundraising $48,217

  • 24d · Other expenses: FOOD

    total $2,959 · program services $2,959

  • 24e · All other expenses

    total $2,547 · program services $2,547

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $779,264 · end of year $1,402,496

  • 2 · Savings and temporary cash investments

    beginning of year $18,192,582 · end of year $13,688,950

  • 3 · Pledges and grants receivable

    beginning of year $2,233,453 · end of year $1,438,077

  • 4 · Accounts receivable

    beginning of year $150,325 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $145,281 · end of year $838,079

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,983 · end of year $33,603

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

    $44,193,523

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

    $9,074,252

  • 10c · Land, buildings and equipment, net

    beginning of year $34,256,761 · end of year $35,119,271

  • 15 · Other assets

    beginning of year $2,128,084 · end of year $2,233,482

  • 17 · Accounts payable and accrued expenses

    beginning of year $380,865 · end of year $390,880

  • 18 · Grants payable

    beginning of year $573,675 · end of year $513,755

  • 19 · Deferred revenue

    beginning of year $370,950 · end of year $193,200

  • 23 · Secured mortgages and notes payable

    beginning of year $10,254,728 · end of year $10,121,970

  • 24 · Unsecured notes and loans payable

    beginning of year $1,500,000 · end of year $1,500,000

  • 27 · Net assets without donor restrictions

    beginning of year $41,887,770 · end of year $41,346,076

  • 28 · Net assets with donor restrictions

    beginning of year $2,927,745 · end of year $688,077

Mission and programs · 2022

Mission

TO PROMOTE THE COMMON GOOD THROUGH THE ADVANCEMENT OF EDUCATION FOR CHILDREN IN DISADVANTAGED AND LOW INCOME COMMUNITIES; SUCH ADVANCEMENT INCLUDES RESEARCH, DEVELOPMENT, AND TRAINING ON CURRICULUM AND INSTRUCTIONAL PRACTICE, THE PROVISION OF CHARITABLE AND EDUCATIONAL SERVICES, AND THE DESIGN OF A MODEL PUBLIC SCHOOL SYSTEM.

Activities or mission (Part I)

TO IMPROVE PUBLIC EDUCATION BY DEVELOPING A MODEL PUBLIC SCHOOL SYSTEM THAT CAN BE REPLICATED.

  • THE ORGANIZATION SUPPORTED THE NETWORK OF HARLEM VILLAGE ACADEMIES SCHOOLS THROUGH ENRICHMENT PROGRAMS, EDUCATIONAL MATERIALS, PROFESSIONAL DEVELOPMENT, TEACHER RECRUITING, CURRICULUM AND STANDARDS DEVELOPMENT, FAMILY AND COMMUNITY OUTREACH, AND OPERATIONAL SUPPORT SERVICES, INCLUDING FISCAL MANAGEMENT SUPPORT.

    Expenses $8,477,245 · Grants $825,226 · Revenue $4,259,434

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jeffrey Mayer

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • John Legend

    VICE-CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey Verschleiser

    TREASURER/SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Appenteng Kofi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Barnett Robert

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Couric Katie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gray Jonathan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Horing Ellen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jackman Hugh

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kempner Thomas L Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lewis Edward

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Moore Lori

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Och Jane

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rudin Fiona

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sine Samira

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Wilpon Jeff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Wilson Melba

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Deborah A Kenny

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $727,334
    From this org
    $696,380
    From related orgs
    $0
    Other
    $30,954
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $371,630
    Bonus
    $324,750
    Other
    $0
    Deferred
    $12,200
    Nontaxable benefits
    $18,754
    Filer's total
    $727,334

  • Hannah Johns

    COO THRU AUGUST 2022

    Total calculated
    $126,331
    From this org
    $111,485
    From related orgs
    $0
    Other
    $14,846
    Hours/week
    40

  • Charles Klein

    VICE PRESIDENT OF FINANCE

    Total calculated
    $248,775
    From this org
    $228,306
    From related orgs
    $0
    Other
    $20,469
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $228,306
    Bonus
    $0
    Other
    $0
    Deferred
    $9,260
    Nontaxable benefits
    $11,209
    Filer's total
    $248,775

  • Paul Lomedico

    EXTERNAL AFFAIRS & ADMIN DIRECTOR

    Total calculated
    $193,147
    From this org
    $175,974
    From related orgs
    $0
    Other
    $17,173
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,974
    Bonus
    $0
    Other
    $0
    Deferred
    $7,120
    Nontaxable benefits
    $10,053
    Filer's total
    $193,147

  • Inbar Schwartz

    COLLEGE ALUMNI DIRECTOR

    Total calculated
    $149,942
    From this org
    $134,701
    From related orgs
    $0
    Other
    $15,241
    Hours/week
    40

  • Gayle Amato

    EXECUTIVE ASSISTANT

    Total calculated
    $151,586
    From this org
    $144,228
    From related orgs
    $0
    Other
    $7,358
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,228
    Bonus
    $0
    Other
    $0
    Deferred
    $6,010
    Nontaxable benefits
    $1,348
    Filer's total
    $151,586

  • Bobby Edenfield

    ELEMENTARY MATHEMATICS DIRECTOR

    Total calculated
    $152,649
    From this org
    $137,308
    From related orgs
    $0
    Other
    $15,341
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,308
    Bonus
    $0
    Other
    $0
    Deferred
    $5,540
    Nontaxable benefits
    $9,801
    Filer's total
    $152,649

  • Robert McClimans

    ARTS DIRECTOR

    Total calculated
    $138,197
    From this org
    $115,548
    From related orgs
    $0
    Other
    $22,649
    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

  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
THE ORGANIZATION PAID PERFORMANCE BASED BONUSES IN 2022, WHICH WERE INCLUDED IN THE EMPLOYEES W-2.

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

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • HVA 125 LLC

    TO DEVELOP AND HOLD A REAL PROPERTY ASSET (HIGH SCHOOL FACILITY). · NY · income $0 · assets $7,028,805

    Directly controlled by VILLAGE ACADEMIES NETWORK INC

  • HVA 124 LLC

    TO DEVELOP AND HOLD A REAL PROPERTY ASSET (ELEMENTARY SCHOOL FACILITY). · NY · income $1,153,032 · assets $27,305,428

    Directly controlled by VILLAGE ACADEMIES NETWORK INC

  • HVA 60 WEST LLC

    TO DEVELOP AND HOLD A REAL PROPERTY ASSET (GRADUATE SCHOOL FACILITY 1). · NY · income $0 · assets $3,708,749

    Directly controlled by VILLAGE ACADEMIES NETWORK INC

  • HVA 126 LLC

    TO PAY PREMIUMS ON ONE OR MORE LIFE INSURANCE POLICIES. · NY · income $32,571 · assets $838,079

    Directly controlled by VILLAGE ACADEMIES NETWORK INC

  • HVA 2011 LLC

    TO DEVELOP AND HOLD A REAL PROPERTY ASSET (GRADUATE SCHOOL FACILITY 2). · NY · income $0 · assets $0

    Directly controlled by VILLAGE ACADEMIES NETWORK INC

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202421369349319497

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