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Nonprofiteer
← SOUTH VALLEY ACADEMY INC

Form 990 for tax year 2022

Filed by SOUTH VALLEY ACADEMY INC.

Totals

Total revenue
$2,602,560
Total expenses
$2,639,618
Contributions and grants received
$2,581,619
Grants paid
$0
Program service revenue
$19,200
Investment income
$0
Other revenue
$1,741
Total assets, end of year
$5,537,234
Total liabilities, end of year
$6,215,513
Net assets or fund balances, end of year
-$678,279
Program services expenses (Part IX)
$2,509,122
Management and general expenses
$130,496
Fundraising expenses
$0
Program service expenses (Part III)
$2,509,122

Program services were 95.1% 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.

  • 1e · Government grants (contributions)

    $2,581,619

  • 2a · Program service revenue: Rent - related non-profit charter school

    total $19,200 · unrelated business $0 · excluded $0

  • 11a · Other revenue: Miscellaneous

    total $1,741 · related or exempt $1,741 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $1,741

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $25,000 · program services $25,000 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $1,435,048 · program services $1,365,678 · management and general $69,370 · fundraising $0

  • 9 · Other employee benefits

    total $71,427 · program services $71,427 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $107,282 · program services $104,477 · management and general $2,805 · fundraising $0

  • 11b · Fees: legal

    total $4,412 · program services $0 · management and general $4,412 · fundraising $0

  • 11c · Fees: accounting

    total $34,918 · program services $0 · management and general $34,918 · fundraising $0

  • 11g · Fees: other

    total $111,559 · program services $105,559 · management and general $6,000 · fundraising $0

  • 13 · Office expenses

    total $95,306 · program services $83,804 · management and general $11,502 · fundraising $0

  • 14 · Information technology

    total $12,343 · program services $12,343 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $508,087 · program services $508,087 · management and general $0 · fundraising $0

  • 17 · Travel

    total $36,000 · program services $36,000 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $190,107 · program services $190,107 · management and general $0 · fundraising $0

  • 24a · Other expenses: Dues and fees

    total $8,129 · program services $6,640 · management and general $1,489 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $425,381 · end of year $494,663

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $127,451

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,759 · end of year $0

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

    $262,176

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

    $239,525

  • 10c · Land, buildings and equipment, net

    beginning of year $5,076,448 · end of year $22,651

  • 15 · Other assets

    beginning of year $30,592 · end of year $4,892,469

  • 17 · Accounts payable and accrued expenses

    beginning of year $146,492 · end of year $146,352

  • 25 · Other liabilities

    beginning of year $6,031,909 · end of year $6,069,161

  • 27 · Net assets without donor restrictions

    beginning of year -$641,221 · end of year -$678,279

Mission and programs · 2022

Mission

The School's mission is to provide each student & family we serve with high quality college preparatory educational programs & services designed to stimulate life-long learning.

  • South Valley Academy, Inc. served approximately 220 students in grades fifth through eighth. Students are taught in accordance with the standards set forth by the State of Arizona and demonstrated progess in writing, reading and math.

    Expenses $2,509,122 · Revenue $20,941

As filed on the 2022 return.

Listed in Part VII

  • Ronda Owens

    Director/President

    Total calculated
    $193,932
    From this org
    $0
    From related orgs
    $193,752
    Other
    $180
    Hours/week
    8

    Schedule J breakdown matched by us

    Base
    $0 + $193,752 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $180 related
    Filer's total
    $0 + $193,932 related

  • KJ Weihing

    Vice President of Finance

    Total calculated
    $156,224
    From this org
    $0
    From related orgs
    $151,154
    Other
    $5,070
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $151,154 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $5,070 related
    Filer's total
    $0 + $156,224 related

  • Cassie Hammond

    Director/Accountant

    Total calculated
    $72,168
    From this org
    $0
    From related orgs
    $67,098
    Other
    $5,070
    Hours/week
    1

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 · Written employment contract

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

The filer's explanations (Part III)

Pt I Line 3
The related entity uses a written employment contract to establish compensation of the Director and VP of Finance.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202411369349304886

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