ARKANSAS VIRTUAL ACADEMY

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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

2003

Legal Domicile

Principal Officer

JESS ASKEW

Phone

5016644225

Tax Period

2022-07-01 to 2023-06-30

ARKANSAS VIRTUAL ACADEMY, founded in 2003, is a mid-sized nonprofit in the Education sector that reported $37.9M in total revenue in fiscal year 2022.

Mission

ARKANSAS VIRTUAL ACADEMY WILL SUPPORT, GUIDE, AND ASSIST FAMILIES AND COLLEAGUES IN A POSITIVE WAY THROUGH TEAMWORK TO PROMOTE ACADEMIC GROWTH THAT LEADS TO HIGH ACHIEVEMENT FOR THE ENTIRE ARKANSAS VIRTUAL ACADEMY COMMUNITY. WE WILL DO THIS BY KEEPING SIGHT OF OUR VISION AND EMBRACING CHANGE THROUGH TEAMWORK AND GOOD COMMUNICATION TO ENSURE FAMILY COMMITMENT TO ACCOMPLISH OUR PURPOSE.

Program Service Accomplishments

Program 1

Expenses: $27,479,413

OPERATED AN ONLINE CHARTER SCHOOL FOR GRADES K-12. DURING THE YEAR CHILDREN WERE EDUCATED IN LANGUAGE, MATH, SCIENCE, HISTORY, MUSIC, AND OTHER GRADE LEVEL APPROPRIATE COURSES.

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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 $37,907,143

Program Service Revenue $0

Investment Income $0

Other Revenue $25,316

TOTAL REVENUE $37,932,459

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,009,697

Fundraising Expenses $0

Program Expenses $27,479,413

Other Expenses $27,446,184

TOTAL EXPENSES $38,455,881

Year-over-Year Comparison

	2022	2021	Change
Revenue	$37,932,459	$37,382,788	+0.0%
Expenses	$38,455,881	$36,860,192	+0.0%
Net Income	$-523,422	$522,596	-2.0%

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

219

Volunteers

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GARY MCHENRY	CHAIR	2.00	Officer Director	$0	$0	$0
JESS ASKEW III	VICE CHAIR	2.00	Officer Director	$0	$0	$0
PAIGE GORMAN	SECRETARY/TREASURER	2.00	Officer Director	$0	$0	$0
DANA KELLY	MEMBER	2.00	Director	$0	$0	$0
JOEL EDEL	MEMBER	2.00	Director	$0	$0	$0
RODNEY NAGEL	MEMBER	2.00	Director	$0	$0	$0

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	$37,932,459	$38,455,881	$4,168,028	$-523,422
2022	$37,382,788	$36,860,192	$5,352,341	$522,596
2021	$27,721,037	$27,191,092	$3,075,159	$529,945
2020	$19,083,010	$18,842,430	$1,756,315	$240,580
2019	$17,330,235	$17,259,877	$2,084,567	$70,358
2018	$14,431,426	$14,412,038	$1,775,717	$19,388