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Walton Academy INC

Tax-deductible

Defuniak Spgs, FL501(c)(3)EducationEIN 59-3656137Revenue $2.0M in FY2025

On file with the IRSwaltonacademycharterschool389 Dorsey Ave, 32435-3013 · Defuniak Spgs, FLTax-exempt since Mar 2002School — 170(b)(1)(A)(ii)

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To provide educational services

501(c)(3) charity; gifts are tax-deductible.
60¢ of each $1 spent went to programs.
Run by 5 volunteers and 39 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
3 of 6
filings with a surplus
Average surplus $58K a year · 2% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
60%
of spending
Worth a look: 60% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 6.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.3M
71% of total assets
Worth a look: liabilities are 71% of assets; over 65%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.0M
-34% vs prior year
Spent
$2.1M
To programs
60%
Net assets
$528K
By yearFY2020–FY2025
Revenue
$2.0M
FY2025▼ -34%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.0M
FY2021$2.6M
FY2022$2.6M
FY2023$2.9M
FY2024$3.1M
FY2025$2.0M
Expenses
$2.1M
FY2025▼ -31%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.2M
FY2021$2.3M
FY2022$2.4M
FY2023$2.7M
FY2024$3.1M
FY2025$2.1M
Net assets
$528K
FY2025▼ -17%
Tap a bar for its year
Net assets by fiscal year
FY2020$28K
FY2021$300K
FY2022$505K
FY2023$663K
FY2024$634K
FY2025$528K

From the FY2025 Form 990 (year ending June 2025) · 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 Mar 2002.

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

Where the money goes

60 cents of each dollar spent went to programs.

Program services 60% · $1.3M Management & general 40% · $854K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Ron Neale
Chairperson
$0Pt VII · Sec A
Edward Graham
Vice Chair
$0Pt VII · Sec A
Ann Black
Secretary/Tr
$0Pt VII · Sec A
See Walton Academy INC 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

Offers educational services to empower individuals and communities.

Provided by the organization

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1 program · $1.3M · in their own filed words · FY2024
01

Provides educational services to high risk students in grades 6-12

$1.3Mprogram 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
The St Joe Community Foundation INCFY2024$6K
Total grants receivedfrom 1 funder$6K

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.0M
Ln 12
Gifts and grantsLn 1h$2.0M
Investment incomeLn 3$601
Other incomeLn 4–11$231
Money outPt IX
$2.1M
Ln 25
Programscol B$1.3M
Managementcol C$854K
Owns and owesPt X
$528K
net assets · Ln 32
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$1.8M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.0M
Government grantsLn 1e$2.0M
Investment incomeLn 3$601
Other incomeLn 4–11$231
Total revenueLn 12$2.0M
Assets in detailPt X, end of year
CashLn 1$1.2M
Cash and savings togetherLn 1–2$1.2M
Land, buildings, equipmentLn 10c$205K
Other assetsLn 15$212K
Total assetsLn 16$1.8M
LiabilitiesLn 26$1.3M
Net assetsLn 32$528K
OperationsPt I, VI
EmployeesI 539
VolunteersI 65
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
LineStart FY25End FY25
Cash and savingsLn 1–2$1.4M$1.2M
Land, buildings, equipmentLn 10c$307K$205K
Total assetsLn 16$2.0M$1.8M
LiabilitiesLn 26$1.3M$1.3M
Net assetsLn 32$634K$528K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$773K$618K$155K
Other employee benefitsLn 9$60K$48K$12K
Payroll taxesLn 10$54K$43K$11K
Management feesLn 11a$394K$394K
Accounting feesLn 11c$20K$20K
Other fees for servicesLn 11g$27K$21K$5K
Office expensesLn 13$108K$86K$22K
Information technologyLn 14$55K$44K$11K
OccupancyLn 16$131K$131K
TravelLn 17$2K$2K
InterestLn 20$268$268
Depreciation, depletion and amortizationLn 22$70K$57K$13K
InsuranceLn 23$202K$162K$40K
Other expenses (24a–d)Ln 24$188K$159K$29K
All other expensesLn 24e$42K$34K$8K
Total functional expensesLn 25$2.1M$1.3M$854K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $2.0M$2.1M−$106K$528K 990 PDF
FY2024 $3.1M$3.1M−$29K$634K 990 PDF
FY2023 $2.9M$2.7M$159K$663K 990 PDF
FY2022 $2.6M$2.4M$205K$505K 990 PDF
FY2021 $2.6M$2.3M$272K$300K 990 PDF
FY2020 $2.0M$2.2M−$149K$28K 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 FY2025 990 (6 parts)
Part I · Summary $2,020,990 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,437,317$2,020,158
I-9 Program service revenue$0
I-10 Investment incomePrior year $1,251$601
I-11 Other revenuePrior year $637,507$231
I-12 Total revenuePrior year $3,076,075$2,020,990
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,777,587$887,078
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,327,627$1,240,062
I-18 Total expensesPrior year $3,105,214$2,127,140
I-19 Revenue less expensesPrior year −$29,139−$106,150
Part VI · Governance 3 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
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 $2,020,990 across 6 lines filed
VIII-1e Government grants$1,969,469
VIII-1f All other contributions, gifts and grants$50,689
VIII-1h Total contributions, gifts and grants$2,020,158
VIII-3 Investment incomeExcluded from tax $601$601
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $231$231
VIII-12 Total revenueRelated to mission $231 · Excluded from tax $601$2,020,990
Part IX · Statement of functional expenses $2,127,140 across 15 lines filed
IX-7 Other salaries and wagesPrograms $618,159 · Management $154,540$772,699
IX-9 Other employee benefitsPrograms $48,390 · Management $12,098$60,488
IX-10 Payroll taxesPrograms $43,113 · Management $10,778$53,891
IX-11a Management feesManagement $393,634$393,634
IX-11c Accounting feesManagement $20,500$20,500
IX-11g Other fees for servicesPrograms $21,253 · Management $5,313$26,566
IX-13 Office expensesPrograms $86,413 · Management $21,602$108,015
IX-14 Information technologyPrograms $44,194 · Management $11,049$55,243
IX-16 OccupancyManagement $131,371$131,371
IX-17 TravelManagement $1,949$1,949
IX-20 InterestManagement $268$268
IX-22 Depreciation, depletion and amortizationPrograms $56,859 · Management $13,494$70,353
IX-23 InsurancePrograms $161,703 · Management $40,426$202,129
IX-24 Other expenses (24a–d)Programs $159,077 · Management $28,791$187,868
IX-24e All other expensesPrograms $33,733 · Management $8,433$42,166
IX-25 Total functional expensesPrograms $1,272,894 · Management $854,246 · Fundraising $0$2,127,140
Part X · Balance sheet $1,805,790 assets, 12 lines filed
Asset lines not itemized here account for $114,486; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,358,536$1,210,524
X-4 Accounts receivable$1,804
X-10c Land, buildings and equipment, netStart of year $307,198$205,415
X-14 Intangible assetsStart of year $39,492$62,040
X-15 Other assetsStart of year $226,920$211,521
X-16 Total assetsStart of year $1,981,993$1,805,790
X-17 Accounts payable and accrued expensesStart of year $25,245$14,533
X-25 Other liabilitiesStart of year $1,322,436$1,263,095
X-26 Total liabilitiesStart of year $1,347,681$1,277,628
X-27 Net assets without donor restrictionsStart of year $172,768$528,162
X-32 Total net assets or fund balancesStart of year $634,312$528,162
X-33 Total liabilities and net assetsStart of year $1,981,993$1,805,790
Part XI · Reconciliation of net assets $528,162 net assets at year end
XI-1 Total revenue$2,020,990
XI-2 Total expenses$2,127,140
XI-3 Revenue less expenses−$106,150
XI-4 Net assets at start of year$634,312
XI-10 Net assets at end of year$528,162

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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