Is Carbon Valley Academy Legit?

Carbon Valley Academy demonstrates a mixed financial picture. While the organization has shown consistent revenue generation, with the latest reported revenue at $3,442,293, its financial health is significantly impacted by substantial liabilities. In the 202306 period, liabilities reached $12,843,037, exceeding assets of $10,527,055, indicating a negative net asset position. This trend of liabilities often surpassing assets has been observed in several past filings, suggesting a reliance on debt or other obligations. Spending efficiency appears to be a concern, particularly in the most recent filing where expenses ($3,633,921) exceeded revenue ($3,557,896), resulting in a deficit. This follows a period of strong surplus in 202106 where revenue ($2,142,672) significantly outpaced expenses ($1,159,562). The organization's NTEE code B29 suggests it is a K-12 school, and the lack of reported officer compensation across all filings indicates a potential for strong program focus, though the specific breakdown of program, administrative, and fundraising expenses is not provided in the summary data. The consistent reporting of 0% officer compensation suggests a commitment to directing funds towards its mission rather than executive salaries. Transparency regarding executive compensation is excellent, with no reported officer compensation across all available filings. However, the overall financial transparency could be enhanced by providing more detailed breakdowns of expenses to fully assess spending efficiency. The significant and fluctuating liabilities, particularly the jump from $5,532,835 in 202206 to $12,843,037 in 202306, warrant further investigation to understand their nature and impact on the organization's long-term sustainability.