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Valor Preparatory Academy FY2024 filing

Tax-deductible

Waco, TX501(c)(3)Since 2013EducationEIN 46-3834044Revenue $3.2M in FY2024

On file with the IRSvalorprep.com4600 Sanger Ave, 76710-4861 · Waco, TXTax-exempt since Jun 2015School — 170(b)(1)(A)(ii)

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The mission of Valor Preparatory Academy is to partner with families to provide excellent education and develop passionate disiples of jesus, who are prepared to courageously influence culture for the glory of god.

501(c)(3) charity; gifts are tax-deductible.
70¢ 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
4 of 6
filings with a surplus
Average surplus $498K a year · 9% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
70%
of spending
Fine: 70% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
7
named funders · $585K
Looks good: 7 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$959K
30% of total assets
Looks good: liabilities are 30% 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
$3.2M
+17% vs prior year
Spent
$3.4M
To programs
70%
Net assets
$2.2M
By yearFY2020–FY2025
Revenue
$3.2M
FY2024▲ +17%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.5M
FY2021$2.0M
FY2022$3.1M
FY2023$2.7M
FY2024$3.2M
FY2025$21.6M
Expenses
$3.4M
FY2024▲ +25%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.2M
FY2021$1.6M
FY2022$1.9M
FY2023$2.7M
FY2024$3.4M
FY2025$20.2M
Net assets
$2.2M
FY2024▼ -11%
Tap a bar for its year
Net assets by fiscal year
FY2020$934K
FY2021$1.3M
FY2022$2.5M
FY2023$2.5M
FY2024$2.2M
FY2025$3.6M

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

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You’re viewing the FY2024 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 Jun 2015.

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

Where the money goes

70 cents of each dollar spent went to programs.

Program services 70% · $2.4M Management & general 30% · $1.0M Fundraising 0% · $707

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
Libby Delheeneer
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Rachel Hobbs
President
$0Pt VII · Sec A
Kari McKown
Treasurer
$0Pt VII · Sec A
Mick Murray
Director
$0Pt VII · Sec A
Eric Swan
Secretary
$0Pt VII · Sec A
See Valor Preparatory 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Educates students in faith, preparing them to influence culture for God's glory.

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Provided by the organization

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1 program · $2.4M · in their own filed words · FY2023
01

Valor preparatory academy is a christian, classical, university-model school serving pre-k through 12TH grade students and their families.

$2.4Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Donor Advised Charitable Giving INCFY2024$250K
Fidelity Investments Charitable Gift FundFY2024$236K
Vpa Properties INCFY2024$40K
The Rpksc Family FoundationFY2024$30K
Natl Christian Charitable Fdn INCFY2024$22K
Jones Family Right Hand FoundationFY2024$5K
Nchsaa Foundation INCFY2024$2K
Total grants receivedfrom 7 funders$585K
See all 7 funders →
Grants paid · 1 grant · $584K · 2024–2024
Vpa Properties INCTX · FY2024$583,581

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.2M
Ln 12
Fees for servicesLn 2g$2.8M
Gifts and grantsLn 1h$306K
Other incomeLn 4–11$17K
Money outPt IX
$3.4M
Ln 25
Programscol B$2.4M
Managementcol C$1.0M
Fundraisingcol D$707
Owns and owesPt X
$2.2M
net assets · Ln 32
Cash and savingsLn 1–2$669K
Total assetsLn 16$3.2M
LiabilitiesLn 26$959K
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$306K
Fees for servicesLn 2g$2.8M
Investment incomeLn 3$7K
Other incomeLn 4–11$17K
Total revenueLn 12$3.2M
Assets in detailPt X, end of year
CashLn 1$184K
SavingsLn 2$485K
Cash and savings togetherLn 1–2$669K
Land, buildings, equipmentLn 10c$2.5M
Total assetsLn 16$3.2M
LiabilitiesLn 26$959K
Net assetsLn 32$2.2M
OperationsPt I, VI
EmployeesI 557
VolunteersI 6109
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$860K$669K
Land, buildings, equipmentLn 10c$2.5M$2.5M
Total assetsLn 16$3.4M$3.2M
LiabilitiesLn 26$848K$959K
Net assetsLn 32$2.5M$2.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$60K$60K
Other salaries and wagesLn 7$1.7M$1.1M$596K
Payroll taxesLn 10$144K$96K$47K
Legal feesLn 11b$22K$22K
Accounting feesLn 11c$24K$24K
Other fees for servicesLn 11g$3K$2K$707
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$4K$4K
Information technologyLn 14$4K$4K
OccupancyLn 16$195K$195K
Depreciation, depletion and amortizationLn 22$276K$276K
InsuranceLn 23$8K$8K
Other expenses (24a–d)Ln 24$700K$619K$82K
All other expensesLn 24e$237K$174K$63K
Total functional expensesLn 25$3.4M$2.4M$1.0M$707

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $21.6M$20.2M$1.4M$3.6M 990 PDF
FY2024 Viewing $3.2M$3.4M−$239K$2.2M 990 PDF
FY2023 $2.7M$2.7M−$20K$2.5M 990 PDF
FY2022 $3.1M$1.9M$1.2M$2.5M 990 PDF
FY2021 $2.0M$1.6M$395K$1.3M 990 PDF
FY2020 $1.5M$1.2M$246K$934K 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 $3,163,219 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $190,317$305,744
I-9 Program service revenuePrior year $2,472,044$2,832,917
I-10 Investment incomePrior year $3,766$7,239
I-11 Other revenuePrior year $28,600$17,319
I-12 Total revenuePrior year $2,694,727$3,163,219
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 $1,501,775$1,927,684
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,213,334$1,474,592
I-18 Total expensesPrior year $2,715,109$3,402,276
I-19 Revenue less expensesPrior year −$20,382−$239,057
Part VI · Governance 7 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsYes
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $3,163,219 across 6 lines filed
VIII-1f All other contributions, gifts and grants$305,744
VIII-1h Total contributions, gifts and grants$305,744
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,832,917$2,832,917
VIII-3 Investment incomeExcluded from tax $7,239$7,239
VIII-6 Net rental income or lossRelated to mission $17,319$17,319
VIII-12 Total revenueRelated to mission $2,850,236 · Unrelated business $0 · Excluded from tax $7,239$3,163,219
Part IX · Statement of functional expenses $3,402,276 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $59,631$59,631
IX-7 Other salaries and wagesPrograms $1,128,002 · Management $596,399$1,724,401
IX-10 Payroll taxesPrograms $96,247 · Management $47,405$143,652
IX-11b Legal feesManagement $22,222$22,222
IX-11c Accounting feesManagement $24,102$24,102
IX-11g Other fees for servicesPrograms $2,220 · Fundraising $707$2,927
IX-12 Advertising and promotionPrograms $1,444$1,444
IX-13 Office expensesPrograms $4,254$4,254
IX-14 Information technologyPrograms $3,695$3,695
IX-16 OccupancyManagement $194,848$194,848
IX-22 Depreciation, depletion and amortizationPrograms $276,059$276,059
IX-23 InsurancePrograms $7,544$7,544
IX-24 Other expenses (24a–d)Programs $618,698 · Management $81,648$700,346
IX-24e All other expensesPrograms $173,787 · Management $63,364$237,151
IX-25 Total functional expensesPrograms $2,371,581 · Management $1,029,988 · Fundraising $707$3,402,276
Part X · Balance sheet $3,189,303 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $550,285$184,457
X-2 Savings and temporary cash investmentsStart of year $309,940$484,615
X-4 Accounts receivableStart of year $36,968$14,044
X-10c Land, buildings and equipment, netStart of year $2,465,553$2,506,187
X-16 Total assetsStart of year $3,362,746$3,189,303
X-17 Accounts payable and accrued expensesStart of year $17,205$72,501
X-19 Deferred revenueStart of year $0$61,506
X-25 Other liabilitiesStart of year $0$25,267
X-26 Total liabilitiesStart of year $847,783$958,733
X-27 Net assets without donor restrictionsStart of year $2,137,781$2,089,074
X-28 Net assets with donor restrictionsStart of year $377,182$141,496
X-32 Total net assets or fund balancesStart of year $2,514,963$2,230,570
X-33 Total liabilities and net assetsStart of year $3,362,746$3,189,303
Part XI · Reconciliation of net assets $2,230,570 net assets at year end
XI-1 Total revenue$3,163,219
XI-2 Total expenses$3,402,276
XI-3 Revenue less expenses−$239,057
XI-4 Net assets at start of year$2,514,963
XI-8 Prior period adjustments−$45,336
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,230,570

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

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