Virtual Learning Academy Charter School

Nonprofit profile at a glance

EIN
562668724
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Exeter, NH, USA
Phone
6037782500
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$14,832,848
Expenses
$14,173,800
Assets
$6,744,962
Liabilities
$8,823,408

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

Leadership & pay

13 people listed

Highest reported compensation

  • STEVE KOSSAKOSKI (EXECUTIVE DI): $173,404 total reported compensation
  • NATALIE BERGER (CHIEF OPER.): $114,851 total reported compensation
  • JULIE REECE (DIR OF PTNRS): $112,748 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 operate a New Hampshire public charter school.

What it reported doing in 2024

Operated a state charter school whereby the school: (a) used new and emerging distance learning technology to provide any time any place access to a rigorous personalized education that helped students learn today, graduate tomorrow and prepare for the future: (b) provided all students with the opportunity to personalize their education by combining rigourous academic study with the flexibility that is inherent in the any time any place philosophy: and (c) met the need of a wide variety of students and fostered 21st century skills such as global awareness, self-directed learning skills, information and communications technology, literacy, problem-solving skills, time management and personal responsibility. Students aso had educational options including learning through experience, projects, teams and adult education options.

Operating model

Revenue model
Grant-funded. 97% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 74
  • Accountability: 95
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.5%; rating input score 89
  • Program expense ratio: 93.5%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: 4.4%; rating input score 52; 52nd percentile among comparable filings
  • Total-asset coverage ratio: 0.48; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 1.31; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 5%; rating input score 50; 50th percentile among comparable filings

Growth

  • Program expense growth: 1.5% per year; rating input score 100; 17th percentile among comparable filings
  • Revenue growth: 3.4% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: 10% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 89.5% of revenue deployed · 93.5% of spending went to programs
  • Governance: 7 of 7 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $13.3M in reported program spending
  • Leadership: top reported pay $173K · 13 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 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 — Sustainability: Total-asset coverage ratio scored 14/100.
  • Review — Sustainability: Operating margin scored 52/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • Review — Sustainability: Officer compensation ratio scored 50/100.