SOUTH CAROLINA VIRTUAL CHARTER SCH… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2007

Legal Domicile

Principal Officer

ANITA LATHAM

Phone

8032536222

Tax Period

2022-07-01 to 2023-06-30

SOUTH CAROLINA VIRTUAL CHARTER SCHOOL, founded in 2007, is a mid-sized nonprofit in the Education sector that reported $30.8M in total revenue in fiscal year 2022. Revenue decreased 17% compared to the prior year. The organization ran a surplus of $7.7M, a strong 25% operating margin.

Mission

OUR MISSION IS TO IMPROVE STUDENT EDUCATIONAL ACHIEVEMENT THROUGH THE PROVISION OF AN INDIVIDUALIZED, RIGOROUS, STANDARDS-BASED VIRTUAL EDUCATION TO STUDENTS IN THE STATE OF SC.

Program Service Accomplishments

Program 1

Expenses: $19,613,134 Revenue: $105,446

THE SOUTH CAROLINA VIRTUAL CHARTER SCHOOL IS A STATEWIDE PUBLIC CHARTER SCHOOL SERVING STUDENTS IN GRADES KINDERGARTEN THROUGH 12TH GRADE. THE SCHOOL HAS THE SAME RESPONSIBILITIES AND OBLIGATIONS AS ANY OTHER CHARTER SCHOOLS IN THE STATE INCLUDING PROVIDING STATE-APPROVED STANDARDS-BASED CURRICULUM, MONITORING ATTENDANCE AND TRUANCY, AND ADMINISTERING REQUIRED STANDARDIZED TESTING. HOWEVER, ANY STUDENT RESIDING IN THE STATE MAY ATTEND THE SCHOOL, AND THESE STUDENTS ATTEND SCHOOL REMOTELY. DURING FY23, AVERAGE ENROLLMENT WAS 3,076 STUDENTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $30,141,347

Program Service Revenue $105,446

Investment Income $525,630

Other Revenue $0

TOTAL REVENUE $30,772,423

Expense Breakdown

Grants Paid $0

Salaries & Benefits $17,928,679

Fundraising Expenses $0

Program Expenses $19,613,134

Other Expenses $5,143,671

TOTAL EXPENSES $23,072,350

Year-over-Year Comparison

	2022	2021	Change
Revenue	$30,772,423	$37,235,602	-0.2%
Expenses	$23,072,350	$33,948,361	-0.3%
Net Income	$7,700,073	$3,287,241	+1.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

206

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$377,890

Total Directors

$6,584

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR CHERRY DANIEL	HEAD OF SCHO	37.50	Officer	$182,770	$47,714	$230,484
ANITA LATHAM	DEP. HEAD OF	37.50	Highest	$147,073	$41,644	$188,717
TORI SMITH	FINANCE DIRE	37.50	Officer	$113,102	$30,320	$143,422
COURTNEY SUBER	CHAIR	0.50	Officer Director	$1,829	$0	$1,829
VICKIE WISEMAN	VICE CHAIR	0.50	Officer Director	$350	$0	$350
TIL MORISEY	TREASURER/SE	0.50	Officer Director	$955	$0	$955
SUSAN GASTON	DIRECTOR	0.50	Director	$1,200	$0	$1,200
JACQUELINE KENNEDY	DIRECTOR	0.50	Director	$800	$0	$800
DIANNE OLIVER	DIRECTOR	0.50	Director	$600	$0	$600
JANET THOMPSON	DIRECTOR	0.50	Officer Director	$850	$0	$850

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$30,772,423	$23,072,350	$32,536,227	$7,700,073
2022	$37,235,602	$33,948,361	$26,912,937	$3,287,241
2021	$37,851,009	$33,647,486	$14,646,057	$4,203,523
2020	$25,262,136	$24,773,340	$8,924,453	$488,796
2019	$24,613,988	$30,074,920	$8,986,364	$-5,460,932
2018	$27,029,240	$27,252,648	$15,335,471	$-223,408

SOUTH CAROLINA VIRTUAL CHARTER SCHOOL