Valleylife EIN 86-0135840

Valleylife

EIN  86-0135840 Public charity (501(c)(3)) Phoenix, AZ Founded 1947
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 8/11/26 · see original filing: IRS
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Size
$10–100M
What they do
Improves the quality of life for people with disabilities.
Leadership
Cletus Thiebeau · President/CEO · $321K
Money in and out
$18.1M revenue, $17.7M expenses
Bottom line
88% program efficiency

Improves the quality of life for people with disabilities. For fiscal year 2024 it reported $18.1M in revenue, $17.7M in expenses, and $11.8M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$18.1M
Pt VIII · Ln 12
Total expenses
$17.7M
Pt IX · Ln 25
Net assets
$11.8M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $447K
Where spending went · Part IX cols B–D
Program services $0.88 Management & general $0.11 Fundraising $0.01
Program efficiency
88%
of spending reaches programs▲ +1% vs prior filing year
Operating runway
4.4mo
months of highly liquid reserves at operating expense rate▲ +10% vs prior filing year
Surplus margin
+2%
revenue over expenses, this year▼ -84% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$18.1M
FY2024▼ -13%
Expenses
$17.7M
FY2024▼ -1%
Total assets
$15.4M
FY2024▲ +2%
Total liabilities
$3.6M
FY2024▼ -4%
Total revenue
$18.1M
Pt VIII · Ln 12
Total expenses
$17.7M
Pt IX · Ln 25
Net assets
$11.8M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$447K
Total assetsPt X · Ln 16$15.4M
Program-expense ratioPt IX · col B88%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

3 program services account for $14.9M of program spending, described in the organization's own filed words · FY2023.
01

Residential Services

Valleylife owns or leases residential group homes in the northwest area of maricopa county. Each home can accommodate up to six (6) developmentally disabled residents. Basic living skills are taught and self-sufficiency is encouraged and maintained. During the year, 95 clients were served.

$11.6Mprogram expense
02

Day Services

Day services provides a curriculum to developmentally disabled individuals that is exceptionally diverse, concentrating on activities which will increase and maintain independent functioning of each participant. Programs are designed to optimize each individual's community living skills and to refine their personal and social skills.

$2.3Mprogram expense
03

Vocational Services

Provides job readiness training, paid work training, support to maintain employment, and job placement for individuals with a variety of disabilities and barriers to employment. During the year, 282 clients were served.

$1.1Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CValleylife
EINHdr · item D86-0135840
Principal addressHdr · item CPhoenix, AZ
WebsiteHdr · item Jwww.valleylifeaz.org
Year of formationHdr · item L1947
State of legal domicileHdr · item MAZ
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEmployment (J30I)
Ruling yearIRS BMFAug 1953

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
President/CEO
$321,168Pt VII · Sec A
$145,661Pt VII · Sec A
Vocational and Employment Services
$101,371Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Cletus Thiebeau’s $321K as President/CEO is at the 75th percentile of top reported officer pay among 415 $10–100M employment 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 · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021
Cletus Thiebeau$321,168$291,588$270,196$254,479
Donna Cordova$145,661$116,786$45,838
Linda Miller$144,459$145,623
Jennifer Baier Director of$101,371

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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Statement of Revenue

Part VIII
Program service revenue$16.1M · 89%
Contributions & grants$1.8M · 10%
Investment income$190K · 1%
Program service revenue89%$16.1M
Contributions & grants10%$1.8M
Investment income1%$190K
Other revenue$16K
— government grantsLn 1e$1.6M
Total revenueLn 12$18.1M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.88 Management & general $0.11 Fundraising $0.01
Program services88%$15.5M
Management & general11%$2.0M
Fundraising1%$173K
Total functional expensesLn 25$17.7M

Balance Sheet

Part X · end of year
CashLn 1$6.3M
Total assetsLn 16$15.4M
Total liabilitiesLn 26$3.6M
Total net assetsLn 32$11.8M
Months of cash on handcomputed4.3

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $6.5M · Operating expenses (Pt IX) $17.7M · Less non-cash grants $152K · Cash operating expenses/yr $17.5M
4.4 months
Where the money goes
Program services
Program services $15.5M · Total expenses $17.7M
88%
Management & General
Management & general $2.0M · Total expenses $17.7M
11%
Fundraising
Fundraising $173K · Total expenses $17.7M
1%
Cost to raise $1
Fundraising expense (3-yr avg) $151K · Solicited contributions (3-yr avg) $208K
$0.73 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.8M · Total revenue $18.1M
10%
Government reliance
Government grants $1.6M · Total revenue $18.1M
9%
Earned-income share
Program service revenue $16.1M · Total revenue $18.1M
89%
Investment reliance
Investment income $190K · Total revenue $18.1M
+1%
Program self-sufficiency
Program service revenue $16.1M · Total expenses $17.7M
91%
Growth & trend
Revenue growth (YoY)
This year $18.1M · Prior year $20.9M
-13%
Net-asset trend (YoY)
End of year $11.8M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $18.1M · Expenses $17.7M
+2%
Liabilities-to-Assets
Total liabilities — · Total assets $15.4M
Net-asset ratio
Net assets $11.8M · Total assets $15.4M
77%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $168K · Total assets (Pt X, ln 16) $15.4M
1%
People & payroll
Highest Reported Total Compensation
Individual Cletus Thiebeau · Reported title PRESIDENT/CEO · Highest reported compensation $321K · Total expenses $17.7M
2%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $14.7M · Total expenses $17.7M
83%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 88%
Overhead ratio 11%
Fundraising cost ratio 10%
Revenue growth -13%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 0%

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.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 3 funders$17K
See all 3 funders →
Grants paid · 4 grants · $2.4M · 2020–2023
Unitemized GrantFY2023$582,791
Unitemized GrantFY2022$644,167
Unitemized GrantFY2021$572,498
Unitemized GrantFY2020$560,623

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$18.1M revenue · viewing · ⤓ 990 PDF
FY2023$20.9M revenue · ⤓ 990 PDF
FY2022$16.2M revenue · ⤓ 990 PDF
FY2021$18.1M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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