Vfma Academy
Nonprofit profile at a glance
- EIN
- 923171024
- IRS 990 coverage
- 2023–2024
- Forms available
- Form 990 2024, Form 990-N 2022
- Location
- Wayne, PA, USA
- Phone
- 6109891200
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Secondary, High School
Reported finances
- Revenue
- $5,756,974
- Expenses
- $7,462,061
- Assets
- $458,002
- Liabilities
- $3,072,829
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
10 people listed
Highest reported compensation
- LAUREN WOCHOK (HEAD OF SCHOOL (END 9/2024)): $124,588 total reported compensation
- AARON BARKLEY (ASSISTANT DEAN): $105,443 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To educate cadets, 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.
What it reported doing in 2024
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 academy hosted 108 students during the year.
Operating model
- Revenue model
- Earned-program. 77% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 75% for direct work, and 25% for grants.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 73
- Transparency & Controls: 94
- Accountability: 91
- Sustainability: 10
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 87.1%; rating input score 87
- Program expense ratio: 67.2%; rating input score 67
- Fundraising efficiency: $6.54 raised per $1 spent on fundraising; rating input score 24; 24th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -29.6%; rating input score 4; 4th percentile among comparable filings
- Total-asset coverage ratio: 0.06; rating input score 2; 2nd percentile among comparable filings
- Liabilities to assets ratio: 6.71; rating input score 0; 0th percentile among comparable filings
- Officer compensation ratio: 3.1%; rating input score 68; 68th percentile among comparable filings
Growth
- Program expense growth: -3% per year; rating input score 0; 7th percentile among comparable filings
- Revenue growth: -17.6% per year; rating input score 0; 1st percentile among comparable filings
- Asset growth: -11.4% per year; rating input score 0; 1st percentile among comparable filings
Details
- Where the money goes: 87.1% of revenue deployed · 67.2% of spending went to programs
- Governance: 5 of 5 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $5M in reported program spending
- Leadership: top reported pay $125K · 10 people listed
- Consistency: 24 of 24 current checks pass
- Schedules: 8 filed schedules · includes major donors and grants
- Filing history: 2 filing years from 2023 to 2024
- Contacts: How to reach this organization
- Money network: 3 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Fundraising efficiency scored 24/100.
- High — Sustainability: Operating margin scored 4/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 2/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 0/100.