Valley Charter Schools FY2021 filing

Tax-deductible

North Hills, CA501(c)(3)Since 2009EducationEIN 27-0174003Revenue $6.3M in FY2021

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.
79¢ of each $1 spent went to programs.
$335K 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

FY2021 · 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
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$335K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 4.9 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
$1.2M
26% of total assets
Looks good: liabilities are 26% 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
$6.3M
-9% vs prior year
Spent
$6.6M
To programs
79%
Net assets
$3.4M
By yearFY2020–FY2025
Revenue
$6.3M
FY2021▼ -9%
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
$6.6M
FY2021▼ -3%
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
$3.4M
FY2021▼ -7%
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 FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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

79 cents of each dollar spent went to programs.

Program services 79% · $5.2M Management & general 21% · $1.4M Fundraising 0% · $16K

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

12 people listed on the 990; $335K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Principal, Vcms
$118,060Pt VII · Sec A
Executive Director
$114,065Pt VII · Sec A
Principal, Vces
$102,420Pt 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 · $5.2M · in their own filed words · FY2020
01

Valley charter elementary is a public charter school serving 276 students in grades kindergarten through 5TH grade, and valley charter middle school is a public charter school serving 288 students in grades 6TH through 8TH grade for the year ended june 30, 2021.

$5.2Mprogram 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 FY2021 990, line by line.

1The main four
Money inPt VIII
$6.3M
Ln 12
Gifts and grantsLn 1h$7.3M
Investment incomeLn 3$7K
Money outPt IX
$6.6M
Ln 25
Programscol B$5.2M
Managementcol C$1.4M
Fundraisingcol D$16K
Owns and owesPt X
$3.4M
net assets · Ln 32
Cash and savingsLn 1–2$2.7M
Total assetsLn 16$4.6M
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
12
listed · VII A
PaidVII A3
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7.3M
Government grantsLn 1e$7.0M
Investment incomeLn 3$7K
Total revenueLn 12$6.3M
Assets in detailPt X, end of year
CashLn 1$2.7M
Cash and savings togetherLn 1–2$2.7M
Land, buildings, equipmentLn 10c$171K
Other assetsLn 15$44K
Total assetsLn 16$4.6M
LiabilitiesLn 26$1.2M
Net assetsLn 32$3.4M
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 FY21End FY21
Cash and savingsLn 1–2$2.4M$2.7M
Land, buildings, equipmentLn 10c$1.1M$171K
Total assetsLn 16$5.1M$4.6M
LiabilitiesLn 26$1.4M$1.2M
Net assetsLn 32$3.7M$3.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$207K$207K
Other salaries and wagesLn 7$3.1M$2.7M$319K
Pension plan contributionsLn 8$371K$370K$488
Other employee benefitsLn 9$357K$287K$69K
Payroll taxesLn 10$89K$69K$20K
Management feesLn 11a$51K$51K
Legal feesLn 11b$67K$67K
Accounting feesLn 11c$8K$8K
Other fees for servicesLn 11g$885K$700K$185K
Advertising and promotionLn 12$38K$38K
Office expensesLn 13$295K$250K$45K
Information technologyLn 14$37K$4K$33K
OccupancyLn 16$681K$609K$72K
Conferences, conventions and meetingsLn 19$424$424
InterestLn 20$5K$5K
Depreciation, depletion and amortizationLn 22$45K$44K$314
InsuranceLn 23$75K$75K
Other expenses (24a–d)Ln 24$93K$61K$16K$16K
All other expensesLn 24e$215K$215K
Total functional expensesLn 25$6.6M$5.2M$1.4M$16K

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 Viewing $6.3M$6.6M−$273K$3.4M 990 PDF
FY2020 $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 FY2021 990 (6 parts)
Part I · Summary $6,295,706 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $6,884,105$7,260,341
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$6,908
I-11 Other revenuePrior year $0−$971,543
I-12 Total revenuePrior year $6,884,105$6,295,706
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 $4,720,898$4,074,519
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,081,829$2,493,935
I-18 Total expensesPrior year $6,802,727$6,568,454
I-19 Revenue less expensesPrior year $81,378−$272,748
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 $6,295,706 across 6 lines filed
VIII-1e Government grants$7,026,513
VIII-1f All other contributions, gifts and grants$233,828
VIII-1h Total contributions, gifts and grants$7,260,341
VIII-3 Investment incomeExcluded from tax $6,908$6,908
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $50 · Excluded from tax −$971,593−$971,543
VIII-12 Total revenueRelated to mission $50 · Unrelated business $0 · Excluded from tax −$964,685$6,295,706
Part IX · Statement of functional expenses $6,568,454 across 19 lines filed
IX-5 Pay of current officers, directors and key staffManagement $206,683$206,683
IX-7 Other salaries and wagesPrograms $2,732,036 · Management $319,440$3,051,476
IX-8 Pension plan contributionsPrograms $370,055 · Management $488$370,543
IX-9 Other employee benefitsPrograms $287,473 · Management $69,377$356,850
IX-10 Payroll taxesPrograms $69,086 · Management $19,881$88,967
IX-11a Management feesPrograms $51,025$51,025
IX-11b Legal feesManagement $67,233$67,233
IX-11c Accounting feesManagement $7,644$7,644
IX-11g Other fees for servicesPrograms $700,377 · Management $184,968$885,345
IX-12 Advertising and promotionManagement $37,724$37,724
IX-13 Office expensesPrograms $250,211 · Management $44,958$295,169
IX-14 Information technologyPrograms $3,500 · Management $33,085$36,585
IX-16 OccupancyPrograms $608,527 · Management $72,016$680,543
IX-19 Conferences, conventions and meetingsPrograms $424$424
IX-20 InterestManagement $5,004$5,004
IX-22 Depreciation, depletion and amortizationPrograms $44,476 · Management $314$44,790
IX-23 InsuranceManagement $74,582$74,582
IX-24 Other expenses (24a–d)Programs $61,243 · Management $16,313 · Fundraising $15,596$93,152
IX-24e All other expensesManagement $214,715$214,715
IX-25 Total functional expensesPrograms $5,178,433 · Management $1,374,425 · Fundraising $15,596$6,568,454
Part X · Balance sheet $4,588,386 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $2,431,033$2,700,406
X-4 Accounts receivableStart of year $1,101,156$1,576,119
X-9 Prepaid expenses and deferred chargesStart of year $110,304$97,148
X-10c Land, buildings and equipment, netStart of year $1,061,507$170,847
X-15 Other assetsStart of year $361,944$43,866
X-16 Total assetsStart of year $5,065,944$4,588,386
X-17 Accounts payable and accrued expensesStart of year $548,116$142,057
X-19 Deferred revenueStart of year $42,531$243,779
X-24 Unsecured notes and loans payableStart of year $794,108$794,109
X-26 Total liabilitiesStart of year $1,384,755$1,179,945
X-27 Net assets without donor restrictionsStart of year $3,681,189$3,406,825
X-28 Net assets with donor restrictions$1,616
X-32 Total net assets or fund balancesStart of year $3,681,189$3,408,441
X-33 Total liabilities and net assetsStart of year $5,065,944$4,588,386
Part XI · Reconciliation of net assets $3,408,441 net assets at year end
XI-1 Total revenue$6,295,706
XI-2 Total expenses$6,568,454
XI-3 Revenue less expenses−$272,748
XI-4 Net assets at start of year$3,681,189
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,408,441

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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