Spokane Valley Christian School
LENDER: VCS Faith Learning Community, LLC
The recommended minimum investment amount is $10,000.00
Clicking "Get Started" and communicating your level of interest is not a binding commitment.
Minimum Loan Goal
Total Loan Requested
Interest Rate
Effective Rate
Investment Term
5 years
Funding Progress
Amount Committed to Date
Amount Committed to Date
Total Investors
Total Investors
Investors Accepting Reduced Returns
Investors Accepting Reduced Returns
* This listing is for informational purposes and is not an offer to sell or a solicitation of an offer to buy any securities. Any offering or solicitation is restricted to qualified prospective investors who are supporters of Spokane Valley Christian School, who have reviewed a confidential offering memorandum, and who have executed the subsequent subscription documentation. The borrower will review and validate all prospective investors prior to a formal offering being made. Persons accessing this site are deemed to represent that they will not use the information herein to offer to purchase securities in a manner that would violate restrictions set out in the information or any securities laws of any jurisdiction.

Project Vision

Valley Christian School, with the support of the Valley Christian School Foundation seeks to become a more comprehensive center for Christian education, and Christian ministry in the Spokane Valley community. Through the acquisition of our current facilities, we will be able to provide greater opportunities to our VCS community, as well as offer valuable and quality space for lease to educational and church partners. This will also provide rental income to VCS to allow for our future growth and expansion.

The school is seeking to up to $1.75 Million in funding through an investment opportunity available to VCS families and friends. In support of our 40 years of providing quality Christian education, as an investor you can help VCS to purchase our current facilities while earning up to a 5% return on your investment.

This investment program will be a critical first step in the process of launching the Capital Campaign for Valley Christian School that will complete the purchase of our facility, and fulfill our vision for the future of Valley Christian School.

Ground Work

The Valley Christian School Foundation, Founded in 2002, officially launches in 2017 to raise funds for Valley Christian School. The Foundation seeks to engage the families, alumni, and friends of Valley Christian School in philanthropic support of its mission to be a Christ-centered, loving school community, providing a high standard of education for Christian families, built on a biblical worldview, inspiring Christ-like character and service to God and the world.

The VCS Foundation seeks to provide the financial resources to help Valley Christian School continue to grow in its educational programs, provide more and better extracurricular activities, support faculty in continuing to increase the quality of teaching, and to provide high quality facilities for the Valley Christian School community.


We are a Christ-centered, loving school community, providing a high standard of education for Christian families, built on a biblical worldview, inspiring Christ-like character and service to God and the world.

Core Values

Ground Work

  • Loving School Community: VCS is a school community where we are learning to love one another as Christ loves us. We value and commit to be a distinctively caring academic community where people come alongside one another with support, encouragement, accountability and grace.  
  • High Standard of Education: VCS is committed to an academic rigor that exceeds the common expectations for educational attainment. We value educational standards that equip students to rise to the highest level of academic achievement given their unique talents and abilities.  
  • Christian Families: VCS values its partnership with families who acknowledge Jesus Christ as their Lord and Savior, and who share biblical values as born again believers.  
  • Biblical Worldview: VCS views the full extent of its curriculum and all of life through the lenses of God’s revealed Word. We value the opportunity to mentor students and teach the Bible as the absolute truth and foundation for everything said and done.  
  • Christ-like Character: VCS values every effort to inspire and equip students to exemplify Christ and His teachings in all aspects of their lives.  
  • Service: VCS values the promotion of selfless acts of generosity and service to one another and to a hurting and broken world in the name of and for the sake of Jesus Christ.


Valley Christian School was founded in the fall of 1974 by Pastor Tom Starr. In the fall of 1978, Valley Christian School was incorporated within the ministry of Valley Fourth Memorial Church.  In the ensuing years, through prayer and perseverance, the school expanded to support PreK-12 grade programs utilizing a traditional curricular approach.

God continued to bless VCS with growth, and the School Commission submitted a request in April 2001 to the Valley Fourth Memorial Church Elder Board requesting the school be granted independent status as a 501C3 not for profit organization.  The Elder Board voted unanimously to approve the request. In November 2001, the State of Washington approved the application process and approved Valley Christian School as an independent organization.  The school Commission became the Board of Directors for the independent Spokane Valley Christian School.

In 2005, the secondary campus found a new home at our current location at the previous campus of University High School.  In the fall of 2009, the elementary moved from its leased location at Valley Assembly of God church, and joined the secondary. The two were united on one campus as a K-12 school for first time in 16 years.  In the fall of 2010, the VCS Home School Program also made the move from its leased space at Berean Bible Church to the K-12th grade campus where all school programs have been united.  VCS proudly launched a pre-school program and innovative 4-day school week schedule in the fall of 2013. The school has maintained accreditation through the Association of Christian Schools International (ACSI) and the Northwest Accreditation Commission since 1995.

Over the past 40 years the distinguishing traits of Valley Christian School include a committed and focused school board, a dedicated administrative team with high standards and strong convictions, a professional staff, supportive and loyal parents, and an enthusiastic student body.  The school has sought to provide Bible centered instruction, family-like atmosphere, well maintained facilities, challenging curriculum, outreach service projects, a broad spectrum of extracurricular activities and athletic opportunities, and tutorial assistance through its Directed Studies Department.

The school mission is to continue providing quality education, developing, supporting and training a biblical worldview in the life of each student, and preparing them for service to God and others.  This challenge calls parents, faculty and the local church together to enable Valley Christian School to minister to this generation for Christ and lay the foundations for life.


Loan / Offering Details

Ground Work

The school is raising investment funds through the sale of Notes in which 100% of the proceeds will be used to finance a loan to Spokane Valley Christian School (“VCS” or “Borrower”) for purchasing property and completing necessary renovations. In advance of closing on any loan funds, the Borrower will assign all Notes in addition to the proceeds from the sale of the Notes into the newly-formed limited liability company, VCS Faith Learning Community, LLC (“LLC”), in which the Borrower is the sole member. Thus, the loan to VCS will be from LLC evidenced by a Loan Agreement, Promissory Note, and Deed of Trust on the property being purchased which is located at 10212 E 9th Avenue, Spokane Valley, WA 99206 (the “Property”).

The loan from LLC, in concert with a loan from the City of Spokane, will be used to finance the total loan of up to $4,910,000. The purchase price for the Property is $4,410,000 and the balance, up to $500,000, will be used for necessary renovations. The Central Valley School District ("CVSD") is providing seller financing of $3,160,000 (the "CVSD Loan") with interest-only payments for 5 years at an interest rate of approximately 3%. The minimum amount of the loan from the LLC is set at $1,250,000 with a maximum of no more that $1,750,000 (the "LLC Loan"). The purchase and sale agreement ("PSA") and addendums are provided for your review under "Resources."

Each potential investor is encouraged to read all information provided within the listing including the supplemental documentation. This includes reviewing the past, current, and forward-looking financial information provided, as well as documentation on the Property. This supplemental information helps provide context to the credit worthiness of the Borrower and details on the Property which is collateralizing the loans.

Further, it is important to review the Borrower’s plan for repayment (“Repayment Strategy”), located in the “Borrower Information” tab, which outlines VCS's plan for reducing principal during the term of the LLC Loan as well as for addressing the balance of the LLC Loan when it matures. NOTE: VCS is only required to satisfy installment payments on the loan and is not obligated to make additional principal repayments on the LLC Loan until the loan comes due.

The Notes to be issued by Borrower to supporters of VCS will have a maximum annual interest rate return of 5.00% for a period of 5 years. Investors will have the ability to further reduce the rate for their specific Note which results in greater positive impact for the Borrower.

IMPORTANT: All potential investors need to click on the blue button above titled "Offering Memorandum" to read details of the note investment opportunity in Spokane Valley Christian School.

Use of Proceeds / Collateral Details

Borrower has established a total loan need from the LLC Loan of $1,750,000 to finance the balance of the purchase of the Property and provide for key Property improvements. The total amount of the LLC Loan may be reduced in the event that designated gifts are realized. Below is a list of the ways VCS plans to use the loan funds earmarked for improvements:

  • Roof and flashing repair
  • Plumbing - sinks, drinking fountains, etc
  • Stadium bleachers - track and baseball field bleachers
  • Security - cameras, locks, etc.
  • Possible fencing/walls between buildings for added campus safety
  • Gymnasium upgrades and paint

The Loan will have a Deed of Trust recorded on the Property. Since the CVSD Loan is a part of the Property financing, it will have a first position lien on the Property which means the deed of trust securing the LLC Loan will be in a subordinate second position. Being in second position has inherent risks that need to be understood. If VCS is unable to support its outstanding obligations, any resources that are available, including proceeds from the sale of the Property, will first be directed toward paying off the CVSD Loan which is in a preferential position. Only after this obligation is paid in full will proceeds be directed to the LLC Loan payoff.

NOTE: CVSD will also become a tenant at the Property following the purchase by VCS. They have agreed to a lease amount of $200,000 per year over the 5-year term of the CVSD Loan. Thus, at the maturity of the CVSD Loan, the remaining balance on the loan will be reduced by $1,000,000 to $2,160,000 (5 years of lease payments).

To establish a valuation of the Property, the actual purchase price of $4,410,000 is the best estimate for current value. Since VCS is looking to secure a loan of $4,910,000, the value of the property in its current state is less than the total debt on the Property (the Loan-to-Value is over 100%). Under the "Resources" section to the right, an appraisal performed in 2015 has been provided for your review. NOTE: While it should be assumed that the improvements made on the Property would increase the value, potential investors should make a decision based on the fact that, if the Property had to be sold to satisfy obligations, investors would realize a significant loss on their investment.    

Property Collateral

Property Address 10212 E 9th Avenue, Spokane Valley, WA 99206
Property Status: Purchasing
Property Value: $4,410,000 - Purchase Price





Repayment Strategy

The total purchase price for the property located at 10212 E. 9th Ave is $4.41 million.

Central Valley School District (CVSD) has agreed to carry an interest-only note for $3.16 million. The interest rate on this amount is expected to be approximately 3%. 

Thus, the monthly payments for the CVSD loan will be ~ $7,900. ($3.16MM x 3% / 12 months)

VCS is looking to procure the balance of up to $1.75M through the LLC Loan. The rate used to calculate the minimum required loan payment for this amount is 5% (NOTE: the actual effective rate is estimated to be 4% which means over $80,000 in principal would be retired over 5 years). 

Monthly payment will be approximately $7,300. ($1.75M x 5% / 12 months)

The total monthly required debt payments would be around $15,000 which is only $2,000 more that the current lease payments. NOTE: This doesn't take into account the $200,000 per year that the CVSD will reduce its outstanding loan for facility rental as well as any additional rental include VCS may generate since there will be additional, unused, space still available.  

Lastly, VCS will be launching a capital campaign for the purpose of paying off any debt associated with the property.  It is the school’s goal to be debt free as soon as God provides the monies to do so. 

At the end of the 60-month term, we will be refinancing any remaining portion of the notes with Semble and/or CVSD. 

Risk Questionnaire

Are there any outstanding or pending litigations against the Borrower?  Yes. VCS was named in a lawsuit related to a tragic incident in 2009 when a student died due to a head injury during a football game. The allegations were dismissed by the Spokane Superior Court. That dismissal has since been appealed to the Washington State Supreme Court. All legal actions and associated costs are being handled by our liability insurance carrier.

Are there any material changes in revenue sources that should be disclosed or are not represented in the financial information provided?  Yes. We will be soliciting tenants as added revenue sources for VCS. This can include schools, churches, athletic teams, sports organizations, etc.

Are there any material changes in operating expenses that should be disclosed or are not represented in the financial information provided? No

Are there any material changes in the Borrower’s leadership (compensated or non-compensated) that should be disclosed?  No

Are there any employment issues or claims outstanding or pending?  No

Are there any environmental issues on any of the real estate related to the Borrower loan? Yes. The facility does have asbestos and lead-based paint. Any removal in the future will be handled by professionals.

Has the Borrower been in default in any obligations in the past 3 years?  No

Has any of the key leadership of the Borrower (compensated or non-compensated) been involved in any pending or current litigations or judgments that could adversely impact their ability to serve the Borrower?  No

Has any of the key leadership of the Borrower (compensated or non-compensated) ever been indicted or convicted of a felony?  No

Frequently Asked Questions

QUESTION: What is the next step?

ANSWER: At the point that you are ready to participate, select "Get Started" and follow the simple steps. It takes about 2 minutes to enter the basic information, including your email address, amount you want to invest, and the rate of return you would like to receive. Choosing to take this first step is not a binding commitment.

QUESTION: What if I want to get my money out before the end of the investment term?

ANSWER: If you plan to access the funds prior to the maturity of the investment, it is encouraged that you not invest since there are currently no well-defined secondary markets for the investment. In the case of hardship, best efforts will be made to see if someone else would like to take your position, although there are no guarantees.

QUESTION: Can I make an investment using retirement funds?

ANSWER: Yes, but you are not typically able to direct funds from your current employer 401(k) or 403(b). If the instructions online are not clear or if you have questions, please contact Semble.

QUESTION: Are there costs in using a retirement account (i.e. IRA) to invest?

ANSWER: Yes, all custodians will charge a fee for holding this type of investment because they are not compensated through the normal fees they realize in holding traditional investments (stocks, bonds, mutual funds, etc.). The fee varies based on the custodian. The IRA custodian that is the preferred provider through Semble has a $25 setup fee and a flat annual cost of $65/yr. This cost should be taken into consideration when making an investment. There are no costs to invest using non tax-deferred funds since there is no need for custodial involvement.

Ready to commit to invest in the loan needs of Spokane Valley Christian School?

Click the blue Get Started button to enter your commitment. This is a non-binding commitment and Semble investor support is always available if you have any questions or need assistance.