Civic Intelligence

Veritas Preparatory Academy

990 • Fiscal year 2013 • EIN 05-0527441

Jul 01, 2012 to Jun 30, 2013 • Filed on May 13, 2014

Organization ProfileWWW.VERITASPREPACADEMY.ORG
2131 East Lincoln DrivePhoenix, AZ 85016
Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

85th percentile

0.78x

Higher debt load relative to assets than 85% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Liabilities / Revenue

36th percentile

0.11x

Higher debt load relative to revenue than 36% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Net Margin

32nd percentile

-1.8%

Higher net margin than 32% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2013

Asset Growth

59th percentile

5.2%

Faster asset growth than 59% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets85th percentile

Assets

Up

$683,277

Up $34,017 (+5.2%) from 2012

Net Assets

Down

$151,411

Down $89,441 (-37%) from 2012

Liabilities

Up

$531,866

Up $123,458 (+30%) from 2012

Revenue And Expenses
Liabilities / Revenue36th percentileNet Margin32nd percentile

Revenue

$5,051,809

No earlier filing loaded for comparison.

Expenses

Up

$5,141,250

Up $1,279,437 (+33%) from 2012

Net Income

-$89,441

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth59th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2011: $495,789Liabilities 2011: $244,119Net Assets 2011: $251,6702011Assets 2012: $649,260Liabilities 2012: $408,408Net Assets 2012: $240,8522012Assets 2013: $683,277Liabilities 2013: $531,866Net Assets 2013: $151,4112013Assets 2014: $986,215Liabilities 2014: $499,494Net Assets 2014: $486,7212014Assets 2015: $1,364,808Liabilities 2015: $504,421Net Assets 2015: $860,3872015Assets 2016: $1,776,022Liabilities 2016: $465,923Net Assets 2016: $1,310,0992016Assets 2017: $1,743,395Liabilities 2017: $361,875Net Assets 2017: $1,381,5202017Assets 2018: $1,810,469Liabilities 2018: $441,445Net Assets 2018: $1,369,0242018Assets 2019: $2,021,692Liabilities 2019: $615,938Net Assets 2019: $1,405,7542019Assets 2020: $2,004,453Liabilities 2020: $572,491Net Assets 2020: $1,431,9622020Assets 2021: $2,460,439Liabilities 2021: $657,623Net Assets 2021: $1,802,8162021Assets 2022: $2,633,373Liabilities 2022: $600,085Net Assets 2022: $2,033,2882022Assets 2023: $13,876,077Liabilities 2023: $11,276,268Net Assets 2023: $2,599,8092023Assets 2024: $13,473,635Liabilities 2024: $10,801,557Net Assets 2024: $2,672,0782024Assets 2025: $13,233,532Liabilities 2025: $10,547,931Net Assets 2025: $2,685,6012025

Highlighted filing

2013

Assets$683,277
Liabilities$531,866
Net Assets$151,411
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2011: $3,411,9542011Expenses 2012: $3,861,8132012Revenue 2013: $5,051,809Expenses 2013: $5,141,250Net Income 2013: -$89,4412013Revenue 2014: $5,945,473Expenses 2014: $5,610,163Net Income 2014: $335,3102014Revenue 2015: $6,054,967Expenses 2015: $5,681,301Net Income 2015: $373,6662015Revenue 2016: $6,606,751Expenses 2016: $6,157,039Net Income 2016: $449,7122016Revenue 2017: $6,618,591Expenses 2017: $6,554,428Net Income 2017: $64,1632017Revenue 2018: $6,905,488Expenses 2018: $6,918,729Net Income 2018: -$13,2412018Revenue 2019: $7,455,471Expenses 2019: $7,435,482Net Income 2019: $19,9892019Revenue 2020: $7,837,271Expenses 2020: $7,826,376Net Income 2020: $10,8952020Revenue 2021: $8,349,052Expenses 2021: $8,007,503Net Income 2021: $341,5492021Revenue 2022: $8,971,081Expenses 2022: $8,675,063Net Income 2022: $296,0182022Revenue 2023: $10,013,225Expenses 2023: $9,475,432Net Income 2023: $537,7932023Revenue 2024: $10,122,599Expenses 2024: $10,087,231Net Income 2024: $35,3682024Revenue 2025: $9,857,384Expenses 2025: $9,879,631Net Income 2025: -$22,2472025

Highlighted filing

2013

Revenue$5,051,809
Expenses$5,141,250
Net Income-$89,441
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2012 to Jun 30, 2013
Signed
May 13, 2014
Return Version
2012v2.3
Gross Receipts
$5,051,809
Mission and Program Overview

Mission

A veritas preparatory academy education prepares students to be more than just proficient test takers, but rather, to become great-hearted leaders capable of success throughout their higher education and professional careers. With a curriculum built upon a classical liberal arts tradition and a revolutionary approach to school itself, great hearts cultivates the hearts and minds of students in the pursuit of truth, goodness, and beauty.

Filing and Contact Details

Filer

EIN
05-0527441
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IRS990ScheduleE/Form990ScheduleEPartII/Explanation0THE GREAT HEARTS ACADEMIES ARE NOTFORPROFIT NONSECTARIAN PUBLIC CHARTER SCHOOLS AND DO NOT DISCRIMINATE IN ANY OF ITS PRACTICES ON THE BASIS OF GENDER RACE RELIGION NATIONAL ORIGIN OR DISABILITY
IRS990ScheduleE/Form990ScheduleEPartII/Explanation1THE SCHOOL RECEIVES MONTHLY AID PAYMENTS FROM THE STATE OF ARIZONA BASED ON THE NUMBER OF STUDENTS ENROLLED AND ATTENDING THE SCHOOL THESE FUNDS ARE USED IN ACCORDANCE WITH THE REQUIREMENTS SET FORTH BY THE STATE OF ARIZONA IN ADDITION GOVERNMENT GRANTS ARE ALSO RECEIVED BY THE SCHOOL
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IRS990ScheduleO/GeneralExplanation/Explanation0TO ENABLE STUDENTS IN GRADES SEVEN THROUGH TWELVE TO ACQUIRE CRITICAL REASONING AND COMMUNICATION SKILLS AND TO EXPLORE THE CULTURAL AND SCIENTIFIC ACHIEVEMENTS THAT ARE AT THE HEART OF THE LIBERAL ARTS CURRICULUM AND TO PROVIDE AN ENVIRONMENT THAT ALLOWS EVERY STUDENT WHO IS CURIOUS AND DILIGENT THE OPPORTUNITY TO ACHEIVE ACADEMICALLY.
IRS990ScheduleO/GeneralExplanation/Explanation1THE VOLUNTEERS HELP IN CLASSROOMS AND SUPPORT TEACHERS AND STUDENTS.
IRS990ScheduleO/GeneralExplanation/Explanation2LINE 2A: ALL PAYROLL, PAYROLL TAXES AND BENEFIT PLANS ARE CENTRALIZED THROUGH THE PARENT ORGANIZATION, GREAT HEARTS ACADEMIES (EIN 20-2036133). THEREFORE, GREAT HEARTS ACADEMIES FILES PAYROLL TAX RETURNS UNDER THEIR EMPLOYER TAX IDENTIFICATION NUMBER REPORTING ALL PAYROLL ACTIVITY. PAYROLL RELATED EXPENSES REPORTED ON THIS RETURN REPRESENTS AN ALLOCATION OF SALARIES AND WAGES PAID BY THE ENTITY.
IRS990ScheduleO/GeneralExplanation/Explanation3MANAGEMENT DUTIES ARE DELEGATED TO GREAT HEARTS ACADEMIES (20-2036133), A RELATED PARTY.
IRS990ScheduleO/GeneralExplanation/Explanation4THE 990 IS PREPARED BY AN EXTERNAL CPA FIRM AND ARE REVIEWED INTERNALLY BY THE CFO. AFTER COMPLETING THE CFO REVIEW, THE RETURN IS FINALIZED AND THEN REVIEWED BY THE GREAT HEARTS AUDIT COMMITTEE PRIOR TO BEING SIGNED BY THE CFO.
IRS990ScheduleO/GeneralExplanation/Explanation5THE ORGANIZATION REQUIRES ALL BOARD MEMBERS AND EMPLOYEES TO SIGN THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS.
IRS990ScheduleO/GeneralExplanation/Explanation6THE CMO, ALONG WITH BOARD APPROVAL DETERMINES THE COMPENSATION OF KEY STAFF SUCH AS HEADMASTER AND ASSISTANT HEADMASTER.
IRS990ScheduleO/GeneralExplanation/Explanation7EMPLOYEES AND FACULTY ARE DETERMINED BASED ON AN ORGANIZATION WIDE SALARY RANGE TABLE WHICH FACTORS IN EDUCATION AND EXPERIENCE.
IRS990ScheduleO/GeneralExplanation/Explanation8ALL BOARD MEETINGS ARE POSTED IN ADVANCE IN ACCORDANCE WITH ARIZONA OPEN MEETING LAWS. THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE BOTH AT THE MEETING OR FOLLOWING THE MEETING AND UPON REQUEST.
IRS990ScheduleO/GeneralExplanation/Identifier0ORGANIZATION'S MISSION
IRS990ScheduleO/GeneralExplanation/Identifier1EXPLANATION ON VOLUNTEERS AND TYPES OF SERVICES OR BENEFITS
IRS990ScheduleO/GeneralExplanation/Identifier2ADDITIONAL INFORMATION
IRS990ScheduleO/GeneralExplanation/Identifier3MANAGEMENT DELEGATED
IRS990ScheduleO/GeneralExplanation/Identifier4ORGANIZATION'S PROCESS USED TO REVIEW FORM 990
IRS990ScheduleO/GeneralExplanation/Identifier5ENFORCEMENT OF CONFLICTS POLICY
IRS990ScheduleO/GeneralExplanation/Identifier6COMPENSATION PROCESS FOR TOP OFFICIAL
IRS990ScheduleO/GeneralExplanation/Identifier7COMPENSATION PROCESS FOR OFFICERS
IRS990ScheduleO/GeneralExplanation/Identifier8GOVERNING DOCUMENTS DISCLOSURE EXPLANATION
IRS990ScheduleO/GeneralExplanation/ReturnReference0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/GeneralExplanation/ReturnReference1FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/GeneralExplanation/ReturnReference2FORM 990, PART V
IRS990ScheduleO/GeneralExplanation/ReturnReference3FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/GeneralExplanation/ReturnReference4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/GeneralExplanation/ReturnReference5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/GeneralExplanation/ReturnReference6FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/GeneralExplanation/ReturnReference7FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/GeneralExplanation/ReturnReference8FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/ExchangeOfAssets0false
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Document Assets

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Filings

Displayed year

2013 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$683,277
Liabilities
$531,866
Net assets
$151,411
Revenue
$5,051,809
Expenses
$5,141,250
Net income
-$89,441
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$13.2$10.5$2.69$9.86$9.88$0.02
2024Detailed filing. Detailed filing data is available for this year.$13.5$10.8$2.67$10.1$10.1$0.04
2023Detailed filing. Detailed filing data is available for this year.$13.9$11.3$2.60$10.0$9.48$0.54
2022Detailed filing. Detailed filing data is available for this year.$2.63$0.60$2.03$8.97$8.68$0.30
2021Detailed filing. Detailed filing data is available for this year.$2.46$0.66$1.80$8.35$8.01$0.34
2020Detailed filing. Detailed filing data is available for this year.$2.00$0.57$1.43$7.84$7.83$0.01
2019Detailed filing. Detailed filing data is available for this year.$2.02$0.62$1.41$7.46$7.44$0.02
2018Detailed filing. Detailed filing data is available for this year.$1.81$0.44$1.37$6.91$6.92$0.01
2017Detailed filing. Detailed filing data is available for this year.$1.74$0.36$1.38$6.62$6.55$0.06
2016Detailed filing. Detailed filing data is available for this year.$1.78$0.47$1.31$6.61$6.16$0.45
2015Detailed filing. Detailed filing data is available for this year.$1.36$0.50$0.86$6.05$5.68$0.37
2014Detailed filing. Detailed filing data is available for this year.$0.99$0.50$0.49$5.95$5.61$0.34
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.68$0.53$0.15$5.05$5.14$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.65$0.41$0.24$3.86
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.50$0.24$0.25$3.41