Village Academies Network Inc

Nonprofit profile at a glance

EIN
134186070
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
6468129500
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Education N.E.C.

Reported finances

Revenue
$14,601,046
Expenses
$14,812,555
Assets
$52,204,624
Liabilities
$10,409,728

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

24 people listed

Executive titles in this filing

  • DEBORAH A KENNY (CHIEF EXECUTIVE OFFICER)
  • CHARLES KLEIN (VICE PRESIDENT OF FINANCE)
  • PAUL LOMEDICO (SENIOR VICE PRESIDENT, EXTERNAL AFFAIRS AND BOARD)

Highest reported compensation

  • DEBORAH A KENNY (CHIEF EXECUTIVE OFFICER): $728,105 total reported compensation
  • CHARLES KLEIN (VICE PRESIDENT OF FINANCE): $263,805 total reported compensation
  • CHRISTINE WALKOWICZ (ASSOCIATE SUPERINTENDENT OF ELEMENTARY): $242,478 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 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.

What it reported doing in 2024

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.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 78% for direct work, and 22% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - 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: 81
  • Transparency & Controls: 83
  • Accountability: 100
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.2%; rating input score 88
  • Program expense ratio: 86.5%; rating input score 87
  • Fundraising efficiency: $6.1 raised per $1 spent on fundraising; rating input score 25; 25th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.4%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 3.52; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.2; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 13.5%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: 7.4% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 1.5% per year; rating input score 100; 15th percentile among comparable filings
  • Asset growth: 2.5% per year; rating input score 100; 20th percentile among comparable filings

Details

  • Where the money goes: 88.2% of revenue deployed · 86.5% of spending went to programs
  • Governance: 14 of 14 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $12.8M in reported program spending
  • Leadership: top reported pay $728K · 24 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.6M reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 10 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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 25/100.
  • High — Sustainability: Operating margin scored 25/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.