Wallace Stegner Academy: FY2024 Nonprofit Profile & Form 990 (EIN 47-3210780)

Revenue by fiscal year
FY2020	$5.9M
FY2021	$7.3M
FY2022	$12.2M
FY2023	$15.1M
FY2024	$18.0M
FY2025	$28.1M

Expenses by fiscal year
FY2020	$5.6M
FY2021	$6.1M
FY2022	$12.4M
FY2023	$13.7M
FY2024	$16.3M
FY2025	$26.1M

Net assets by fiscal year
FY2020	$936K
FY2021	$1.9M
FY2022	$1.7M
FY2023	$3.1M
FY2024	$4.9M
FY2025	$6.8M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 2015.

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

Where the money goes

76 cents of each dollar spent went to programs.

76%

24%

Program services 76% · $12.4M Management & general 24% · $3.8M

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

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII

Sarah Vaughan

President

$0Pt VII · Sec A

Antonio Furano

Treasurer

$0Pt VII · Sec A

Jeremy Schow

Secretary

$0Pt VII · Sec A

Frank Magana

Member

$0Pt VII · Sec A

Reed Farnsworth

Member

$0Pt VII · Sec A

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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 students in kindergarten through eighth grade.

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Provided by the organization

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1 program · $12.4M · in their own filed words · FY2023

01

Wallace stegner academy will foster a community of academic rigor and citizenship through its school-wide culture, and civic-based community involvement. Our vision is to create a school that will provide a critical and reliable alternative to mainstream education, especially for english learners and students who struggle in a typical…

$12.4Mprogram 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

Charter Fund INCFY2024$2.0M

Ally Charitable FoundationFY2024$15K

Total grants receivedfrom 2 funders$2.1M

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$18.0M

Ln 12

Gifts and grantsLn 1h$17.4M

Investment incomeLn 3$343K

Fees for servicesLn 2g$265K

Money outPt IX

$16.3M

Ln 25

Programscol B$12.4M

Managementcol C$3.8M

Owns and owesPt X

$4.9M

net assets · Ln 32

Cash and savingsLn 1–2$581K

Total assetsLn 16$37.2M

LiabilitiesLn 26$32.4M

PeoplePt VI, VII

5

listed · VII A

PaidVII A0

Voting boardVI 1a5

IndependentVI 1b5

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$17.4M

Government grantsLn 1e$17.3M

Fees for servicesLn 2g$265K

Investment incomeLn 3$343K

Other incomeLn 4–11$12K

Gains on assetsLn 7$15K

Total revenueLn 12$18.0M

Assets in detailPt X, end of year

SavingsLn 2$581K

Cash and savings togetherLn 1–2$581K

InvestmentsLn 11–13$7.1M

Land, buildings, equipmentLn 10c$28.9M

Total assetsLn 16$37.2M

LiabilitiesLn 26$32.4M

Net assetsLn 32$4.9M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2		$581K
InvestmentsLn 11–13	$4.0M	$7.1M
Land, buildings, equipmentLn 10c	$27.3M	$28.9M
Total assetsLn 16	$35.9M	$37.2M
LiabilitiesLn 26	$32.9M	$32.4M
Net assetsLn 32	$3.1M	$4.9M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Management feesLn 11a	$610K	$24K	$587K
Accounting feesLn 11c	$21K	$21K
Other fees for servicesLn 11g	$624K	$516K	$107K
Advertising and promotionLn 12	$45K		$45K
Information technologyLn 14	$161K	$104K	$57K
OccupancyLn 16	$217K	$186K	$31K
TravelLn 17	$107K	$43K	$65K
InterestLn 20	$1.7M	$1.7M
Depreciation, depletion and amortizationLn 22	$737K	$737K
InsuranceLn 23	$30K		$30K
Other expenses (24a–d)Ln 24	$12.0M	$9.1M	$2.9M
All other expensesLn 24e	$80K	$66K	$14K
Total functional expensesLn 25	$16.3M	$12.4M	$3.8M	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$28.1M	$26.1M	$1.9M	$6.8M	990 PDF
FY2024 Viewing	$18.0M	$16.3M	$1.8M	$4.9M	990 PDF
FY2023	$15.1M	$13.7M	$1.4M	$3.1M	990 PDF
FY2022	$12.2M	$12.4M	−$284K	$1.7M	990 PDF
FY2021	$7.3M	$6.1M	$1.2M	$1.9M	990 PDF
FY2020	$5.9M	$5.6M	$337K	$936K	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2024 990 (6 parts)

Part I · Summary $18,042,381 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $14,688,539$17,422,608

I-9 Program service revenuePrior year $170,059$264,659

I-10 Investment incomePrior year $270,247$343,014

I-11 Other revenuePrior year $15,822$12,100

I-12 Total revenuePrior year $15,144,667$18,042,381

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 $13,726,477$16,274,038

I-18 Total expensesPrior year $13,726,477$16,274,038

I-19 Revenue less expensesPrior year $1,418,190$1,768,343

Part VI · Governance 5 of 5 board members independent, 1 to look at

VI-1a Voting members of the governing body5

VI-1b Independent voting members5

VI-13 Written whistleblower policyNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $18,042,381 across 8 lines filed

VIII-1e Government grants$17,328,468

VIII-1f All other contributions, gifts and grants$94,140

VIII-1h Total contributions, gifts and grants$17,422,608

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $264,659$264,659

VIII-3 Investment incomeExcluded from tax $328,343$328,343

VIII-6 Net rental income or lossExcluded from tax $12,100$12,100

VIII-7 Net gain or loss on sales of assetsExcluded from tax $14,671$14,671

VIII-12 Total revenueRelated to mission $264,659 · Unrelated business $0 · Excluded from tax $355,114$18,042,381

Part IX · Statement of functional expenses $16,274,038 across 12 lines filed

IX-11a Management feesPrograms $23,667 · Management $586,812$610,479

IX-11c Accounting feesPrograms $21,386$21,386

IX-11g Other fees for servicesPrograms $516,236 · Management $107,367$623,603

IX-12 Advertising and promotionManagement $44,765$44,765

IX-14 Information technologyPrograms $103,709 · Management $57,420$161,129

IX-16 OccupancyPrograms $186,380 · Management $30,508$216,888

IX-17 TravelPrograms $42,809 · Management $64,521$107,330

IX-20 InterestPrograms $1,666,988$1,666,988

IX-22 Depreciation, depletion and amortizationPrograms $737,446$737,446

IX-23 InsuranceManagement $29,730$29,730

IX-24 Other expenses (24a–d)Programs $9,072,012 · Management $2,902,519$11,974,531

IX-24e All other expensesPrograms $65,879 · Management $13,884$79,763

IX-25 Total functional expensesPrograms $12,436,512 · Management $3,837,526 · Fundraising $0$16,274,038

Part X · Balance sheet $37,210,196 assets, 15 lines filed

X-2 Savings and temporary cash investments$580,880

X-3 Pledges and grants receivableStart of year $997,924$557,217

X-4 Accounts receivableStart of year $10,278$10,767

X-9 Prepaid expenses and deferred charges$109,899

X-10c Land, buildings and equipment, netStart of year $27,307,857$28,862,563

X-11 Publicly traded securitiesStart of year $4,017,974$7,088,870

X-16 Total assetsStart of year $35,947,255$37,210,196

X-17 Accounts payable and accrued expensesStart of year $940,362$1,075,585

X-20 Tax-exempt bond liabilitiesStart of year $31,762,852$31,199,167

X-24 Unsecured notes and loans payableStart of year $162,045$85,105

X-26 Total liabilitiesStart of year $32,865,259$32,359,857

X-27 Net assets without donor restrictionsStart of year −$1,468,558$248,233

X-28 Net assets with donor restrictionsStart of year $4,550,554$4,602,106

X-32 Total net assets or fund balancesStart of year $3,081,996$4,850,339

X-33 Total liabilities and net assetsStart of year $35,947,255$37,210,196

Part XI · Reconciliation of net assets $4,850,339 net assets at year end

XI-1 Total revenue$18,042,381

XI-2 Total expenses$16,274,038

XI-3 Revenue less expenses$1,768,343

XI-4 Net assets at start of year$3,081,996

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$4,850,339

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

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Wallace Stegner Academy FY2024 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Wallace Stegner Academy

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV