Utah Virtual Academy FY2024 filing

Tax-deductible

Murray, UT501(c)(3)Since 2007EducationEIN 45-0574278Revenue $24.9M in FY2024

On file with the IRSutva.k12.com310 E 4500 S Ste 620, 84107-4266 · Murray, UTTax-exempt since Feb 2013Publicly supported charity — 170(b)(1)(A)(vi)

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The education of students grades 9-12.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
6 of 6
filings with a surplus
Average surplus $2.4M a year · 10% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $149
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3.0M
18% of total assets
Looks good: liabilities are 18% 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
$24.9M
+7% vs prior year
Spent
$22.6M
To programs
84%
Net assets
$13.8M
By yearFY2020–FY2025
Revenue
$24.9M
FY2024▲ +7%
Tap a bar for its year
Revenue by fiscal year
FY2020$18.7M
FY2021$26.8M
FY2022$26.3M
FY2023$23.2M
FY2024$24.9M
FY2025$27.0M
Expenses
$22.6M
FY2024▲ +4%
Tap a bar for its year
Expenses by fiscal year
FY2020$18.6M
FY2021$23.4M
FY2022$21.3M
FY2023$21.6M
FY2024$22.6M
FY2025$24.9M
Net assets
$13.8M
FY2024▲ +20%
Tap a bar for its year
Net assets by fiscal year
FY2020$761K
FY2021$5.0M
FY2022$9.9M
FY2023$11.5M
FY2024$13.8M
FY2025$16.0M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 2013.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $19.0M Management & general 16% · $3.6M

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

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Financial Coordinator/Secretary
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
See Utah Virtual Academy executive salaries →

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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

Educates high school students in grades 9-12.

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Provided by the organization

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1 program · $19.0M · in their own filed words · FY2023
01

To provide students with curriculum and obtain resources for students, and to create a positive learning environment.

$19.0Mprogram 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 · FY2023
Total grants receivedfrom 1 funder$149

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$24.9M
Ln 12
Gifts and grantsLn 1h$24.3M
Investment incomeLn 3$568K
Other incomeLn 4–11$157
Money outPt IX
$22.6M
Ln 25
Programscol B$19.0M
Managementcol C$3.6M
Owns and owesPt X
$13.8M
net assets · Ln 32
Cash and savingsLn 1–2$2.9M
Total assetsLn 16$16.8M
LiabilitiesLn 26$3.0M
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$24.3M
Government grantsLn 1e$24.3M
Investment incomeLn 3$568K
Other incomeLn 4–11$157
Total revenueLn 12$24.9M
Assets in detailPt X, end of year
CashLn 1$2.9M
Cash and savings togetherLn 1–2$2.9M
InvestmentsLn 11–13$12.0M
Land, buildings, equipmentLn 10c$476K
Total assetsLn 16$16.8M
LiabilitiesLn 26$3.0M
Net assetsLn 32$13.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
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 FY24End FY24
Cash and savingsLn 1–2$5.9M$2.9M
InvestmentsLn 11–13$6.0M$12.0M
Land, buildings, equipmentLn 10c$619K$476K
Total assetsLn 16$14.3M$16.8M
LiabilitiesLn 26$2.8M$3.0M
Net assetsLn 32$11.5M$13.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$462K$462K
Legal feesLn 11b$21K$21K
Accounting feesLn 11c$22K$22K
Other fees for servicesLn 11g$1.9M$957K$971K
Advertising and promotionLn 12$3K$3K
Information technologyLn 14$170K$128K$42K
OccupancyLn 16$698K$688K$10K
TravelLn 17$219K$84K$135K
InterestLn 20$16K$16K
Depreciation, depletion and amortizationLn 22$143K$143K
InsuranceLn 23$72K$72K
Other expenses (24a–d)Ln 24$18.5M$16.9M$1.6M
All other expensesLn 24e$333K$162K$171K
Total functional expensesLn 25$22.6M$19.0M$3.6M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $27.0M$24.9M$2.1M$16.0M 990 PDF
FY2024 Viewing $24.9M$22.6M$2.3M$13.8M 990 PDF
FY2023 $23.2M$21.6M$1.6M$11.5M 990 PDF
FY2022 $26.3M$21.3M$5.0M$9.9M 990 PDF
FY2021 $26.8M$23.4M$3.4M$5.0M 990 PDF
FY2020 $18.7M$18.6M$46K$761K 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 FY2024 990 (6 parts)
Part I · Summary $24,909,356 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $23,059,370$24,340,932
I-9 Program service revenuePrior year $386$0
I-10 Investment incomePrior year $157,929$568,267
I-11 Other revenuePrior year $0$157
I-12 Total revenuePrior year $23,217,685$24,909,356
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $21,634,056$22,584,376
I-18 Total expensesPrior year $21,634,056$22,584,376
I-19 Revenue less expensesPrior year $1,583,629$2,324,980
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 $24,909,356 across 5 lines filed
VIII-1e Government grants$24,340,932
VIII-1h Total contributions, gifts and grants$24,340,932
VIII-3 Investment incomeExcluded from tax $568,267$568,267
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $157$157
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $568,424$24,909,356
Part IX · Statement of functional expenses $22,584,376 across 13 lines filed
IX-11a Management feesManagement $462,023$462,023
IX-11b Legal feesManagement $21,102$21,102
IX-11c Accounting feesManagement $22,300$22,300
IX-11g Other fees for servicesPrograms $957,093 · Management $971,368$1,928,461
IX-12 Advertising and promotionManagement $2,700$2,700
IX-14 Information technologyPrograms $128,469 · Management $41,853$170,322
IX-16 OccupancyPrograms $688,187 · Management $9,720$697,907
IX-17 TravelPrograms $83,512 · Management $135,136$218,648
IX-20 InterestPrograms $15,928$15,928
IX-22 Depreciation, depletion and amortizationPrograms $143,161$143,161
IX-23 InsuranceManagement $72,344$72,344
IX-24 Other expenses (24a–d)Programs $16,854,926 · Management $1,641,797$18,496,723
IX-24e All other expensesPrograms $162,001 · Management $170,756$332,757
IX-25 Total functional expensesPrograms $19,033,277 · Management $3,551,099 · Fundraising $0$22,584,376
Part X · Balance sheet $16,806,474 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $5,867,737$2,853,568
X-3 Pledges and grants receivableStart of year $1,821,274$1,465,606
X-4 Accounts receivableStart of year $5,152$5,401
X-10c Land, buildings and equipment, netStart of year $619,218$476,057
X-11 Publicly traded securitiesStart of year $5,979,399$12,005,842
X-16 Total assetsStart of year $14,306,925$16,806,474
X-17 Accounts payable and accrued expensesStart of year $2,375,617$2,672,242
X-25 Other liabilitiesStart of year $409,148$287,092
X-26 Total liabilitiesStart of year $2,784,765$2,959,334
X-27 Net assets without donor restrictionsStart of year $11,191,280$13,385,601
X-28 Net assets with donor restrictionsStart of year $330,880$461,539
X-32 Total net assets or fund balancesStart of year $11,522,160$13,847,140
X-33 Total liabilities and net assetsStart of year $14,306,925$16,806,474
Part XI · Reconciliation of net assets $13,847,140 net assets at year end
XI-1 Total revenue$24,909,356
XI-2 Total expenses$22,584,376
XI-3 Revenue less expenses$2,324,980
XI-4 Net assets at start of year$11,522,160
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$13,847,140

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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