Valley Charter Schools FY2020 filing

Tax-deductible

North Hills, CA501(c)(3)Since 2009EducationEIN 27-0174003Revenue $6.9M in FY2020

On file with the IRSvalleycharterschool.org16514 Nordhoff St, 91343-3722 · North Hills, CATax-exempt since Feb 2010School — 170(b)(1)(A)(ii)

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To operate two california public Charter Schools

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
$276K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $350K a year · 4% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$276K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.4M
27% of total assets
Looks good: liabilities are 27% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.9M
Spent
$6.8M
To programs
83%
Net assets
$3.7M
By yearFY2020–FY2025
Revenue
$6.9M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$6.9M
FY2021$6.3M
FY2022$8.2M
FY2023$9.2M
FY2024$10.1M
FY2025$10.7M
Expenses
$6.8M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$6.8M
FY2021$6.6M
FY2022$7.3M
FY2023$8.7M
FY2024$9.6M
FY2025$10.4M
Net assets
$3.7M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$3.7M
FY2021$3.4M
FY2022$4.4M
FY2023$4.9M
FY2024$5.4M
FY2025$5.7M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 2010.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $5.7M Management & general 17% · $1.1M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990; $276K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Executive Director
$159,168Pt VII · Sec A
Principal
$116,500Pt VII · Sec A
Executive Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Carolyn Yaffe’s $195K as Executive Director is at the 35th percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Carolyn Yaffe$194,834$190,497$182,224$178,413$114,065—
Robert Burke—————$159,168
Brenda Sadeghi$132,118$128,905$127,500$117,710——
Elizabeth Adams$131,738$126,006$121,866$115,903$102,420—
Matthew Rubin————$118,060$116,500
Alicia Paoletta$102,125—————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Operates two California public charter schools.

Questions for Valley Charter Schools

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Provided by the organization

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1 program · $5.7M · in their own filed words · FY2019
01

A california public charter elementary school serving 273 students in kindergarten through 5TH grade, and a california public charter middle school serving 322, 6TH through 8TH grade students in 2019-2020.

$5.7Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$10K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$6.9M
Ln 12
Gifts and grantsLn 1h$6.9M
Money outPt IX
$6.8M
Ln 25
Programscol B$5.7M
Managementcol C$1.1M
Owns and owesPt X
$3.7M
net assets · Ln 32
Cash and savingsLn 1–2$2.4M
Total assetsLn 16$5.1M
LiabilitiesLn 26$1.4M
PeoplePt VI, VII
9
listed · VII A
PaidVII A2
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$6.9M
Government grantsLn 1e$6.6M
Fundraising eventsLn 1c$11K
Total revenueLn 12$6.9M
Assets in detailPt X, end of year
SavingsLn 2$2.4M
Cash and savings togetherLn 1–2$2.4M
Land, buildings, equipmentLn 10c$1.1M
Other assetsLn 15$362K
Total assetsLn 16$5.1M
LiabilitiesLn 26$1.4M
Net assetsLn 32$3.7M
OperationsPt I, VI
EmployeesI 5121
VolunteersI 6100
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$2.3M$2.4M
Land, buildings, equipmentLn 10c$232K$1.1M
Total assetsLn 16$4.3M$5.1M
LiabilitiesLn 26$699K$1.4M
Net assetsLn 32$3.6M$3.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$180K$180K
Other salaries and wagesLn 7$3.4M$2.9M$526K
Other employee benefitsLn 9$270K$268K$2K
Payroll taxesLn 10$853K$762K$92K
Legal feesLn 11b$45K$45K
Accounting feesLn 11c$8K$8K
Other fees for servicesLn 11g$677K$677K
Advertising and promotionLn 12$20K$20K
Office expensesLn 13$18K$18K
Information technologyLn 14$29K$29K
OccupancyLn 16$727K$655K$72K
TravelLn 17$7K$5K$3K
InterestLn 20$608$608
Depreciation, depletion and amortizationLn 22$33K$33K$130
InsuranceLn 23$97K$97K
Other expenses (24a–d)Ln 24$288K$288K
All other expensesLn 24e$130K$80K$50K
Total functional expensesLn 25$6.8M$5.7M$1.1M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $10.7M$10.4M$278K$5.7M 990 PDF
FY2024 $10.1M$9.6M$539K$5.4M 990 PDF
FY2023 $9.2M$8.7M$522K$4.9M 990 PDF
FY2022 $8.2M$7.3M$953K$4.4M 990 PDF
FY2021 $6.3M$6.6M−$273K$3.4M 990 PDF
FY2020 Viewing $6.9M$6.8M$81K$3.7M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $6,884,105 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $6,897,100$6,884,105
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $6,897,100$6,884,105
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $4,432,140$4,720,898
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,129,101$2,081,829
I-18 Total expensesPrior year $6,561,241$6,802,727
I-19 Revenue less expensesPrior year $335,859$81,378
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $6,884,105 across 6 lines filed
VIII-1c Fundraising events$10,519
VIII-1e Government grants$6,644,947
VIII-1f All other contributions, gifts and grants$228,639
VIII-1h Total contributions, gifts and grants$6,884,105
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$6,884,105
Part IX · Statement of functional expenses $6,802,727 across 17 lines filed
IX-5 Pay of current officers, directors and key staffManagement $179,660$179,660
IX-7 Other salaries and wagesPrograms $2,892,535 · Management $525,988$3,418,523
IX-9 Other employee benefitsPrograms $267,717 · Management $1,874$269,591
IX-10 Payroll taxesPrograms $761,532 · Management $91,592$853,124
IX-11b Legal feesManagement $45,366$45,366
IX-11c Accounting feesManagement $8,450$8,450
IX-11g Other fees for servicesPrograms $677,374$677,374
IX-12 Advertising and promotionManagement $20,010$20,010
IX-13 Office expensesManagement $17,697$17,697
IX-14 Information technologyManagement $29,362$29,362
IX-16 OccupancyPrograms $654,759 · Management $71,900$726,659
IX-17 TravelPrograms $4,590 · Management $2,653$7,243
IX-20 InterestManagement $608$608
IX-22 Depreciation, depletion and amortizationPrograms $32,993 · Management $130$33,123
IX-23 InsuranceManagement $97,284$97,284
IX-24 Other expenses (24a–d)Programs $288,422$288,422
IX-24e All other expensesPrograms $79,878 · Management $50,353$130,231
IX-25 Total functional expensesPrograms $5,659,800 · Management $1,142,927 · Fundraising $0$6,802,727
Part X · Balance sheet $5,065,944 assets, 14 lines filed
X-2 Savings and temporary cash investmentsStart of year $2,346,036$2,431,033
X-4 Accounts receivableStart of year $840,540$1,101,156
X-9 Prepaid expenses and deferred chargesStart of year $86,187$110,304
X-10c Land, buildings and equipment, netStart of year $231,895$1,061,507
X-15 Other assetsStart of year $794,043$361,944
X-16 Total assetsStart of year $4,298,701$5,065,944
X-17 Accounts payable and accrued expensesStart of year $198,890$548,116
X-19 Deferred revenue$42,531
X-24 Unsecured notes and loans payable$794,108
X-25 Other liabilitiesStart of year $500,000$0
X-26 Total liabilitiesStart of year $698,890$1,384,755
X-27 Net assets without donor restrictionsStart of year $3,599,811$3,681,189
X-32 Total net assets or fund balancesStart of year $3,599,811$3,681,189
X-33 Total liabilities and net assetsStart of year $4,298,701$5,065,944
Part XI · Reconciliation of net assets $3,681,189 net assets at year end
XI-1 Total revenue$6,884,105
XI-2 Total expenses$6,802,727
XI-3 Revenue less expenses$81,378
XI-4 Net assets at start of year$3,599,811
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,681,189

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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