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← VALOR TEXAS EDUCATION FOUNDATION

Form 990 for tax year 2022

Filed by VALOR TEXAS EDUCATION FOUNDATION.

Totals

Total revenue
$26,534,446
Total expenses
$25,547,497
Contributions and grants received
$25,498,420
Grants paid
$0
Program service revenue
$1,036,026
Investment income
$0
Other revenue
$0
Total assets, end of year
$136,716,874
Total liabilities, end of year
$122,184,278
Net assets or fund balances, end of year
$14,532,596
Program services expenses (Part IX)
$23,009,799
Management and general expenses
$2,117,383
Fundraising expenses
$420,315
Program service expenses (Part III)
$23,009,799

Program services were 90.1% 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)

    $20,892,486

  • 1f · All other contributions, gifts and grants

    $4,605,934

  • 2a · Program service revenue: Auxiliary service fees

    total $1,036,026 · related or exempt $1,036,026

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $555,399 · program services $513,784 · management and general $27,677 · fundraising $13,938

  • 7 · Other salaries and wages

    total $10,920,211 · program services $10,101,979 · management and general $544,182 · fundraising $274,050

  • 8 · Pension plan contributions

    total $534,414 · program services $494,371 · management and general $26,631 · fundraising $13,412

  • 9 · Other employee benefits

    total $924,560 · program services $855,284 · management and general $46,073 · fundraising $23,203

  • 10 · Payroll taxes

    total $188,909 · program services $174,754 · management and general $9,414 · fundraising $4,741

  • 11b · Fees: legal

    total $30,585 · management and general $30,585

  • 11c · Fees: accounting

    total $28,500 · management and general $28,500

  • 11g · Fees: other

    total $1,403,694 · program services $645,247 · management and general $750,894 · fundraising $7,553

  • 13 · Office expenses

    total $865,486 · program services $565,981 · management and general $235,057 · fundraising $64,448

  • 14 · Information technology

    total $229,913 · program services $219,912 · management and general $9,449 · fundraising $552

  • 16 · Occupancy

    total $1,650,807 · program services $1,583,346 · management and general $60,555 · fundraising $6,906

  • 17 · Travel

    total $612,216 · program services $473,107 · management and general $136,989 · fundraising $2,120

  • 20 · Interest

    total $2,017,008 · program services $1,929,268 · management and general $82,899 · fundraising $4,841

  • 22 · Depreciation, depletion and amortization

    total $1,028,057 · program services $983,597 · management and general $42,007 · fundraising $2,453

  • 23 · Insurance

    total $171,523 · program services $135,027 · management and general $36,157 · fundraising $339

  • 24a · Other expenses: Educational materials

    total $2,011,293 · program services $2,011,293

  • 24b · Other expenses: Special education

    total $1,284,196 · program services $1,284,196

  • 24c · Other expenses: Facility maintenance

    total $732,856 · program services $700,977 · management and general $30,120 · fundraising $1,759

  • 24d · Other expenses: Food expenses

    total $302,846 · program services $302,846

  • 24e · All other expenses

    total $55,024 · program services $34,830 · management and general $20,194

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,982,264 · end of year $5,113,473

  • 2 · Savings and temporary cash investments

    end of year $49,168,920

  • 3 · Pledges and grants receivable

    beginning of year $3,329,772 · end of year $3,983,361

  • 9 · Prepaid expenses and deferred charges

    beginning of year $169,595 · end of year $397,516

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

    $75,278,097

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

    $1,717,718

  • 10c · Land, buildings and equipment, net

    beginning of year $32,429,637 · end of year $73,560,379

  • 11 · Investments: publicly traded securities

    end of year $2,448,690

  • 14 · Intangible assets

    end of year $444,840

  • 15 · Other assets

    beginning of year $1,689,445 · end of year $1,599,695

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,101,798 · end of year $4,535,928

  • 19 · Deferred revenue

    end of year $80,395

  • 20 · Tax-exempt bond liabilities

    end of year $58,416,507

  • 23 · Secured mortgages and notes payable

    beginning of year $24,403,155 · end of year $57,460,537

  • 25 · Other liabilities

    beginning of year $1,550,113 · end of year $1,690,911

  • 27 · Net assets without donor restrictions

    beginning of year $2,591,527 · end of year $8,549,014

  • 28 · Net assets with donor restrictions

    beginning of year $10,954,120 · end of year $5,983,582

Mission and programs · 2022

Mission

Valor's mission is to educate the whole person in authentic communities for a full human life. Through our K-12 tuition-free classical charter schools and the Valor Institute, we build communities dedicated to wisdom, virtue, and friendship.

Activities or mission (Part I)

Valor Public Schools educates the whole person in authentic communities for a full human life.

  • Valor operates three schools located in and near Austin, Texas and had approximately 2,200 students from kindergarten through 12th grade for the 2022-2023 school year. Valor's distinctive program offers students a full human education rooted in the classical liberal arts tradition, from the Great Books to fine arts to advanced math and science.

    Expenses $23,009,799 · Revenue $1,036,026

As filed on the 2022 return.

Listed in Part VII

  • Adam Muller

    Chair

    Total calculated
    $0
    Hours/week
    10

  • Cara Valle

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Dan Connelly

    Director

    Total calculated
    $0
    Hours/week
    1

  • Robert Fender

    Director

    Total calculated
    $0
    Hours/week
    1

  • Stephen Gordon

    Superintendent of Schools

    Total calculated
    $167,413
    From this org
    $139,523
    From related orgs
    $0
    Other
    $27,890
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,223
    Bonus
    $14,300
    Other
    $0
    Deferred
    $3,377
    Nontaxable benefits
    $24,513
    Filer's total
    $167,413

  • Jesse Bates

    COO

    Total calculated
    $176,226
    From this org
    $148,145
    From related orgs
    $0
    Other
    $28,081
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,000
    Bonus
    $22,145
    Other
    $0
    Deferred
    $3,593
    Nontaxable benefits
    $24,488
    Filer's total
    $176,226

  • David Williams

    President & CEO

    Total calculated
    $211,760
    From this org
    $206,500
    From related orgs
    $0
    Other
    $5,260
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,500
    Bonus
    $19,000
    Other
    $0
    Deferred
    $4,994
    Nontaxable benefits
    $266
    Filer's total
    $211,760

  • Ramsey Margison

    CFO (as of 01/23)

    Total calculated
    $0
    Hours/week
    40

  • Joel VanDerworp

    Director of School Programs

    Total calculated
    $149,183
    From this org
    $121,750
    From related orgs
    $0
    Other
    $27,433
    Hours/week
    40

  • John Finley

    Academic Director

    Total calculated
    $120,182
    From this org
    $102,308
    From related orgs
    $0
    Other
    $17,874
    Hours/week
    40

  • Erin Fonner

    Dir of Marketing & Communications

    Total calculated
    $103,581
    From this org
    $100,938
    From related orgs
    $0
    Other
    $2,643
    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 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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.

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202411369349306146

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