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RVC Finances

Ross Valley Charter is a nonprofit organization with 501c3 status. It is authorized by the California State Board of Education. This authorization must be reviewed and renewed every five years.

Ross Valley Charter has been supported for the last three years by donations from families and community members interested in creating a new public school option in Ross Valley.

Four fiscal years of financial statements, from April 2014 through June 2017 are available here.  

In those 26 months RVC raised a total of $80,645 entirely from RVC families and friends and spent a total of $75,218.  Most of this ($56,220) was spent on legal fees necessary to develop the charter petition and get it approved, and unsuccessfully trying to lease Red Hill from the District.  The rest of the expenses through those years was spent on miscellaneous consulting regarding the petition and SELPA application ($8,698), liability insurance ($4,683), and various outreach and web site expenses ($4,531). No funds were paid to the parents, teachers or volunteers who donated thousands of hours to develop RVC. There were 14 four-year loans provided from family and friends in 2015 that totaled $80,000.  These appear as liabilities on the 15-16 FY financial statement.

Financial statements for the 2016-17 fiscal year ending June 30, 2017 will be created from EdTec’s accounting software and will be available and posted along with a summary by the end of July.

RVC has received a federal startup reimbursement grant for $375,000 through the California Department of Education (CDE). Once it begins operations in the fall of 2017, RVC will be funded primarily by per pupil revenue from the CDE under the state’s Local Control Funding Formula and Special Education funding through the El Dorado County Charter SELPA. RVC has also received a 4-year low-interest rate charter school startup revolving loan of $250,000 from the California Department of Finance to assist with cash flow as RVC builds its reserves, which after three years are currently projected to be $458,330.

Click here to see the RVC 3-year line item budget approved by the RVC Board June 27, 2017.

Click here to see the associated budget Narrative.

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