Valley Classical School INC FY2022 filing

Blacksburg, VA · Public charity (501(c)(3)) · Education

✓ Tax-deductible
Revenue
$318K
+2% vs prior year
Spent
$333K
To programs
67%
Net assets
$44K
By yearFY2021–FY2025
Revenue
$318K
FY2022▲ +2%
Revenue by fiscal year
FY2021$311K
FY2022$318K
FY2023$400K
FY2024$460K
FY2025$1.9M
Expenses
$333K
FY2022▲ +23%
Expenses by fiscal year
FY2021$271K
FY2022$333K
FY2023$373K
FY2024$425K
FY2025$538K
Net assets
$44K
FY2022▼ -25%
Net assets by fiscal year
FY2021$59K
FY2022$44K
FY2023$71K
FY2024$106K
FY2025$1.5M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CValley Classical School INC
EINHdr · item D81-5388992
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJul 2017
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CBlacksburg, VA
NTEE classificationIRS BMFEducation (B20)
WebsiteHdr · item Jwww.valleyclassicalschool.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.67 Management & general $0.29 Fundraising $0.04
Program services67%$223K
Management & general29%$96K
Fundraising4%$14K
Total functional expensesLn 25$333K

Financial health

Is it on solid ground?

Program efficiency
67%
of spending reaches programs
Operating runway
7.1mo
months of highly liquid reserves at operating expense rate
Surplus margin
-5%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Total assets
$197K
FY2022▲ +8%
Total assets by fiscal year
FY2021$183K
FY2022$197K
FY2023$257K
FY2024$306K
FY2025$1.8M
Total liabilities
$153K
FY2022▲ +24%
Total liabilities by fiscal year
FY2021$123K
FY2022$153K
FY2023$186K
FY2024$200K
FY2025$280K
Revenue less expensesPt I · Ln 19−$15K
Total assetsPt X · Ln 16$197K
Program-expense ratioPt IX · col B67%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47

Balance Sheet

Part X · end of year
CashLn 1$197K
Total assetsLn 16$197K
Total liabilitiesLn 26$153K
Total net assetsLn 32$44K
Months of cash on handcomputed7.1

Statement of Revenue

Part VIII
Program service revenue$269K · 85%
Contributions & grants$49K · 15%
Program service revenue85%$269K
Contributions & grants15%$49K
Investment income$14
Total revenueLn 12$318K

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $197K · Operating expenses/yr $333K
7.1 months
Where the money goes
Program services
Program services $223K · Total expenses $333K
67%
Management & General
Management & general $96K · Total expenses $333K
29%
Fundraising
Fundraising $14K · Total expenses $333K
4%
Cost to raise $1
Fundraising expense (2-yr avg) $7K · Solicited contributions (2-yr avg) $54K
$0.13 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $49K · Total revenue $318K
15%
Government reliance
Government grants — · Total revenue $318K
—
Earned-income share
Program service revenue $269K · Total revenue $318K
85%
Investment reliance
Investment income $14 · Total revenue $318K
<0.01%
Program self-sufficiency
Program service revenue $269K · Total expenses $333K
81%
Growth & trend
Revenue growth (YoY)
This year $318K · Prior year $311K
+2%
Net-asset trend (YoY)
End of year $44K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $318K · Expenses $333K
-5%
Liabilities-to-Assets
Total liabilities — · Total assets $197K
—
Net-asset ratio
Net assets $44K · Total assets $197K
23%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $197K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Justin Zahraee · Reported title HEAD OF SCHO · Highest reported compensation $27K · Total expenses $333K
8%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $286K · Total expenses $333K
86%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 67%——
Overhead ratio 29%——
Fundraising cost ratio 29%——
Revenue growth 2%——
Accounting fee ratio 0.3%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Head of Scho
$27,100Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Advisory Mem
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Justin Zahraee’s $70K as Head of Scho is at the 13th percentile of top reported officer pay among 3395 $1–10M 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 · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022
Justin Zahraee$69,835$63,098$56,700$27,100

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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Governance & Policies

Part VI
  • 7Voting board membersPt VI · Ln 1a
  • 7Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Provides primary and secondary education to students.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

1 program service account for $223K of program spending, described in the organization's own filed words · FY2021.
01

Valley classical school endeavors to provide high-quality educational services to families in virginia's new river valley region. It does so through the implementation of a primary education curriculum and support for homeschooling families enrolled in the school.

$223Kprogram expense

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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 2 funders$1.2M

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2025 Latest $1.9M$538K+322% 990 PDF
FY2024 $460K$425K+15% 990 PDF
FY2023 $400K$373K+26% 990 PDF
FY2022 Viewing $318K$333K+2% 990 PDF
FY2021 $311K$271K 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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