Civic Intelligence

Veritas Academy

990 • Fiscal year 2018 • EIN 20-1632745

Jul 01, 2017 to Jun 30, 2018 • Filed on May 15, 2019

13401 Escarpment BlvdAustin, TX 78739

(512) 891-1673

Siviq Scores

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

Liabilities / Assets

79th percentile

0.62x

Higher debt load relative to assets than 79% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

88th percentile

2.21x

Higher debt load relative to revenue than 88% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

64th percentile

7.9%

Higher net margin than 64% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

51st percentile

$176,918

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 3.3% of source-year revenue.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

96th percentile

73%

Faster asset growth than 96% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

10th percentile

-26%

Faster revenue growth than 10% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Assets

Up

$19,229,923

Up $8,092,431 (+73%) from 2017

Net Assets

Up

$7,266,758

Up $426,284 (+6.2%) from 2017

Liabilities

Up

$11,963,165

Up $7,666,147 (+178%) from 2017

Revenue

Down

$5,401,493

Down $1,857,078 (-26%) from 2017

Expenses

Up

$4,975,209

Up $295,671 (+6.3%) from 2017

Net Income

Down

$426,284

Down $2,152,749 (-83%) from 2017

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2010: $1,470,768Liabilities 2010: $834,347Net Assets 2010: $636,4212010Assets 2011: $1,730,867Liabilities 2011: $1,097,261Net Assets 2011: $633,6062011Assets 2012: $1,677,996Liabilities 2012: $1,093,777Net Assets 2012: $584,2192012Assets 2013: $5,661,569Liabilities 2013: $3,453,575Net Assets 2013: $2,207,9942013Assets 2014: $5,691,910Liabilities 2014: $3,408,497Net Assets 2014: $2,283,4132014Assets 2015: $5,803,279Liabilities 2015: $3,549,414Net Assets 2015: $2,253,8652015Assets 2016: $7,922,148Liabilities 2016: $3,660,707Net Assets 2016: $4,261,4412016Assets 2017: $11,137,492Liabilities 2017: $4,297,018Net Assets 2017: $6,840,4742017Assets 2018: $19,229,923Liabilities 2018: $11,963,165Net Assets 2018: $7,266,7582018Assets 2019: $19,122,198Liabilities 2019: $12,322,643Net Assets 2019: $6,799,5552019Assets 2020: $18,834,548Liabilities 2020: $12,574,036Net Assets 2020: $6,260,5122020Assets 2021: $19,003,336Liabilities 2021: $11,649,099Net Assets 2021: $7,354,2372021Assets 2022: $19,478,165Liabilities 2022: $11,784,357Net Assets 2022: $7,693,8082022Assets 2023: $21,727,722Liabilities 2023: $11,981,735Net Assets 2023: $9,745,9872023Assets 2024: $27,084,202Liabilities 2024: $11,783,985Net Assets 2024: $15,300,2172024

Highlighted filing

2018

Assets$19,229,923
Liabilities$11,963,165
Net Assets$7,266,758

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $1,853,4462010Expenses 2011: $2,217,1492011Expenses 2012: $2,763,2412012Expenses 2013: $2,945,0602013Revenue 2014: $3,356,501Expenses 2014: $3,281,082Net Income 2014: $75,4192014Revenue 2015: $3,743,782Expenses 2015: $3,755,429Net Income 2015: -$11,6472015Revenue 2016: $6,423,217Expenses 2016: $4,415,641Net Income 2016: $2,007,5762016Revenue 2017: $7,258,571Expenses 2017: $4,679,538Net Income 2017: $2,579,0332017Revenue 2018: $5,401,493Expenses 2018: $4,975,209Net Income 2018: $426,2842018Revenue 2019: $5,541,481Expenses 2019: $6,008,684Net Income 2019: -$467,2032019Revenue 2020: $5,688,437Expenses 2020: $6,227,480Net Income 2020: -$539,0432020Revenue 2021: $7,462,193Expenses 2021: $6,368,468Net Income 2021: $1,093,7252021Revenue 2022: $7,504,873Expenses 2022: $7,165,302Net Income 2022: $339,5712022Revenue 2023: $9,480,000Expenses 2023: $8,100,758Net Income 2023: $1,379,2422023Revenue 2024: $14,176,830Expenses 2024: $8,725,072Net Income 2024: $5,451,7582024

Highlighted filing

2018

Revenue$5,401,493
Expenses$4,975,209
Net Income$426,284
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 15, 2019
Return Version
2017v2.3
Gross Receipts
$5,505,165
Mission and Program Overview

Mission

The mission of veritas academy is to minister to families by partnering with christian parents to provide for their children a classical education so that these children may commence a lifelong pursuit of knowledge, wisdom and understanding in their purposeful and passionate service of jesus christ, for the glory of god. Veritas academy has adopted a university-model approach that integrates profession instruction with parent mentored study and character development to achieve a college preparatory level of academic excellence.

Veritas academy (veritas) is a university-model college preparatory school that integrates professional instruction with parent mentored study. Veritas was incorporated in the state of texas in august 2004. The mission is to minister to families by partnering with christian parents to provide for their children a classical education founded upon a biblical worldview so that these children may commence a lifelong pursuit of service of jesus christ, for the glory of god. Veritas academy has adopted a university-model approach that integrates professional instruction with parent mentored study and character development to achieve a college preparatory level of academic excellence.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,399,842$16,943,604▲ $9,543,762
Cash and Non-Interest-Bearing Accounts$1,272,209$1,091,695▼ $180,514
Pledges and Grants Receivable$1,511,777$854,668▼ $657,109
Savings and Temporary Cash Investments$767,915$153,398▼ $614,517
Prepaid Expenses and Deferred Charges$115,255$103,000▼ $12,255
Accounts Receivable$45,790$63,384▲ $17,594
Inventories for Sale or Use$14,649$18,119▲ $3,470
Total Assets$11,137,492$19,229,923▲ $8,092,431
Other Assets Total$10,055$2,055▼ $8,000
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,759,800$8,528,900▲ $6,769,100
Deferred Revenue$1,643,332$2,010,735▲ $367,403
Accounts Payable and Accrued Expenses$893,886$1,423,530▲ $529,644
Total Liabilities$4,297,018$11,963,165▲ $7,666,147
Net Assets / Fund Balance
Unrestricted Net Assets$6,840,474$7,266,758▲ $426,284
Total Net Assets Fund Balance$6,840,474$7,266,758▲ $426,284
Total Liabilities and Net Assets / Fund Balance$11,137,492$19,229,923▲ $8,092,431

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$11,463,442$49,213$11,512,655
Land$4,388,272-$4,388,272
Buildings$726,011$384,348$1,110,359
Equipment$365,879$339,795$705,674
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jef FowlerHead of School/school BoarFT$136,350$40,568$176,918
Starrla FowlerSchool Board MemberFT$71,487-$71,487
Andy KroneSchool Board Member-$20,904-$20,904
Christi WilsonSecretary/school Board Mem-$20,083-$20,083

Board Members and Trustees

NameTitle
Jordan VimontSchool Board President
Sharla De FrereSchool Board Member
Josh WheelockSchool Board VP/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Workman CommercialGeneral Construction Contractor2211 I-35 401, Austin, TX 78741$8,102,480
Bd ModularMoving And ConstructionPO BOX 601062, Dallas, TX 75360$482,401
Revenue and Support

Revenue Composition

Contributions and Grants
$226,322
Program Service Revenue
$5,149,215
Investment Income
$7,910
Other Revenue
$18,046
All Other Contributions
$226,322
Change in Net Assets
$426,284

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded4$103,672Fair Market Value
Other Non Cash Contri Table5$8,768Cost
Food Inventory1$300Cost
Total Noncash Contributions10$112,740-

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,392,425
Revenue Not Reported on Financial Statements
$9,068
Revenue Not Reported on Form 990
$-318,160
Other Revenue Adjustments
$9,068
Total Revenue per Audited Statements
$5,074,265
Total Revenue per Form 990
$5,401,493
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,193,358
Other Expenses$1,463,691
Grants and Similar Amounts Paid$318,160
Total Fundraising Expense$31,948
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,237,480$279,750$28,050$2,545,280
Occupancy$375,749--$375,749
Grants to Domestic Individuals$318,160--$318,160
Current Officers, Directors, Trustees, and Key Employees$171,643$125,604-$297,247
Payroll Taxes$194,990$29,629$2,238$226,857
All Other Expenses$89,624$48,035-$137,659
Other Employee Benefits$120,243$2,071$1,660$123,974
Depreciation Depletion$60,802$20,267-$81,069
Other Expenses$75,592$82,023-$75,592
Information Technology$36,248$12,082-$48,330
Conferences and Meetings$42,915--$42,915
Travel$38,540--$38,540
Fees for Services Other$37,010--$37,010
Insurance$4,011$30,715-$34,726
Fees for Services Accounting-$13,283-$13,283
Advertising-$10,685-$10,685
Total Functional Expenses$4,284,055$659,206$31,948$4,975,209

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$4,975,209
Expenses per Audited Statements$4,647,981
Total Expenses per Audited Statements$4,647,981
Expenses Not Reported on Financial Statements$327,228
Other Expense Adjustments$327,228
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Jef FowlerJef Is the Husband of Board Member Starrla Fowler and the Head of SchoolCompensation for His Role as Head of SchoolNo$177,527
Starrla FowlerStarrla Is the Wife of Board Member Jef Fowler and a Paid EmployeeCompensation for ServicesNo$71,487
Bianca VimontBianca Is the Wife of Board Member Jordan Vimont and a Paid EmployeeCompensation for Teacher PositionNo$9,562
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
Yes
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Jef fowler (trustee/head of school) & starrla fowler (trustee/head of school of logic/principal) are married.

Form 990, Part VI, Section B, Line 11B

The controller reviews the 990 first to identify any problems or errors and brings them to the accountant's attention. Once the controller approves the 990, it is reviewed with the head of school and treasurer and then it is presented to the finance committee and school board. If there are any issues that need to be addressed by the school board, a special meeting will be called.

Form 990, Part VI, Section B, Line 12C

The board discusses any potential conflict of interest situations and votes to go forward or not with the proposed situation. Each year, every officer, trustee, and school board member is required to complete a "disclosure of potential conflicts of interest" statement.

Form 990, Part VI, Section B, Line 15

Key employee salaries: key employees' salaries are set and approved by the school board. Periodically, a salary survey is conducted to determine if the salaries being paid are competitive. The compensation of jef fowler and starrla fowler for their work as school administrators are analyzed and set by the board. Jef and starrla fowler are excluded from the board vote on determining both of their compensation packages.

Form 990, Part VI, Section C, Line 19

These documents are kept in the controller's office and can be viewed by the public upon request.

Form 990, Part VI, Section A, Line 1A

The school's governing body is comprised of a school board and a board of trustees. The school board has complete oversight over the affairs of veritas academy and can take any action that does not alter veritas academy's five foundational commitments (i.e., that veritas academy remains christian, classical, university-model, a family ministry, and a resource school for other similar schools). The exclusive role of the board of trustees is to pass resolutions to ensure that the school board does not allow veritas academy to deviate from these five foundational commitments.

Filing and Contact Details

Filer

Filer Name
Veritas Academy
EIN
20-1632745
Phone
5128911673
Address
13401 ESCARPMENT BLVD, AUSTIN, TX 78739

Signing Officer

Name
Jef Fowler
Title
Head of School
Phone
5128911673
Signed
2019-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jordan Vimont
Formed
2004
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
3
Employees
188
Volunteers
100

Preparer

Firm
Atchley & Associates Llp
Address
1005 LA POSADA DRIVE, AUSTIN, TX 78752
Preparer
Renae Duncan
Phone
5123462086
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The oversight policies and selection of an independent accountant by the audit committee has not changed since the prior year.

Financial Statement Notes

PART X, LINE 2:

Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the school and recognize a tax liability if the school has taken an uncertain position that more likely than not would not be sustained upon examination by the internal revenue service. The school is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The tax returns for the years ended june 30, 2015, and after are open to examination by federal and local authorities.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Financial aid tuition assistance -318,160.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

IN-KIND DONATIONS 9,068.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid tuition assistance 318,160. In-kind donations 9,068.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt5SCHOOL BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6SCHOOL BOARD MEMBER
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02004
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/SecuritiesAmt06951
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GrantAmt0318160
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt0318160
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt0318160
IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt0110623
IRS990/GrossReceiptsAmt05505165
IRS990/GrossSalesOfInventoryAmt014634
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt03
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt012082
IRS990/InformationTechnologyGrp/ProgramServicesAmt036248
IRS990/InformationTechnologyGrp/TotalAmt048330
IRS990/InsuranceGrp/ManagementAndGeneralAmt030715
IRS990/InsuranceGrp/ProgramServicesAmt04011
IRS990/InsuranceGrp/TotalAmt034726
IRS990/InventoriesForSaleOrUseGrp/BOYAmt014649
IRS990/InventoriesForSaleOrUseGrp/EOYAmt018119
IRS990/InvestmentIncomeGrp/ExclusionAmt0959
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0959
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt026
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0773356
IRS990/LandBldgEquipBasisNetGrp/BOYAmt07399842
IRS990/LandBldgEquipBasisNetGrp/EOYAmt016943604
IRS990/LandBldgEquipCostOrOtherBssAmt017716960
IRS990/LegalDomicileStateCd0TX
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt0103672
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE MISSION OF VERITAS ACADEMY IS TO MINISTER TO FAMILIES BY PARTNERING WITH CHRISTIAN PARENTS TO PROVIDE FOR THEIR CHILDREN A CLASSICAL EDUCATION SO THAT THESE CHILDREN MAY COMMENCE A LIFELONG PURSUIT OF KNOWLEDGE, WISDOM AND UNDERSTANDING IN THEIR PURPOSEFUL AND PASSIONATE SERVICE OF JESUS CHRIST, FOR THE GLORY OF GOD. VERITAS ACADEMY HAS ADOPTED A UNIVERSITY-MODEL APPROACH THAT INTEGRATES PROFESSION INSTRUCTION WITH PARENT MENTORED STUDY AND CHARACTER DEVELOPMENT TO ACHIEVE A COLLEGE PREPARATORY LEVEL OF ACADEMIC EXCELLENCE.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt01759800
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt08528900
IRS990/NetAssetsOrFundBalancesBOYAmt06840474
IRS990/NetAssetsOrFundBalancesEOYAmt07266758
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt06951
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt06951
IRS990/NetIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt014634
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt014634
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoncashContributionsAmt0112740
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt0375749
IRS990/OccupancyGrp/TotalAmt0375749
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt010055
IRS990/OtherAssetsTotalGrp/EOYAmt02055
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt01660
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt02071
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0120243
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0123974
IRS990/OtherExpensesGrp/Desc0ATHLETIC PROGRAM EXPENS
IRS990/OtherExpensesGrp/Desc1SUPPLIES
IRS990/OtherExpensesGrp/Desc2BAD DEBT
IRS990/OtherExpensesGrp/Desc3STUDENT ACTIVITIES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt05062
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt182023
IRS990/OtherExpensesGrp/ProgramServicesAmt0340815
IRS990/OtherExpensesGrp/ProgramServicesAmt1140233
IRS990/OtherExpensesGrp/ProgramServicesAmt275592
IRS990/OtherExpensesGrp/TotalAmt0340815
IRS990/OtherExpensesGrp/TotalAmt1145295
IRS990/OtherExpensesGrp/TotalAmt282023
IRS990/OtherExpensesGrp/TotalAmt375592
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt03412
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt03412
IRS990/OtherRevenueTotalAmt03412
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt028050
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0279750
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt02237480
IRS990/OtherSalariesAndWagesGrp/TotalAmt02545280
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt02238
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt029629
IRS990/PayrollTaxesGrp/ProgramServicesAmt0194990
IRS990/PayrollTaxesGrp/TotalAmt0226857
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt01511777
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0854668
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0115255
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0103000
IRS990/PrincipalOfficerNm0JORDAN VIMONT
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/BusinessCd3900099
IRS990/ProgramServiceRevenueGrp/Desc0TUITION AND FEES
IRS990/ProgramServiceRevenueGrp/Desc1FACILITIES FEES
IRS990/ProgramServiceRevenueGrp/Desc2ATHLETICS
IRS990/ProgramServiceRevenueGrp/Desc3ACTIVITIES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt04731530
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1209790
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2189821
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt318074
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt04731530
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1209790
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2189821
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt318074
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt02207310
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0235966
IRS990/PYInvestmentIncomeAmt02208
IRS990/PYOtherExpensesAmt01361128
IRS990/PYOtherRevenueAmt016604
IRS990/PYProgramServiceRevenueAmt05032449
IRS990/PYRevenuesLessExpensesAmt02579033
IRS990/PYSalariesCompEmpBnftPaidAmt03082444
IRS990/PYTotalExpensesAmt04679538
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt07258571
IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0426284
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt05167261
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0767915
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0153398
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0726011
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0384348
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01110359
IRS990ScheduleD/EquipmentGrp/BookValueAmt0365879
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0339795
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0705674
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0327228
IRS990ScheduleD/ExpensesSubtotalAmt04647981
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt04388272
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt04388272
IRS990ScheduleD/OtherExpensesNotIncludedAmt0327228
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt011463442
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt049213
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt011512655
IRS990ScheduleD/OtherRevenueAmt0-318160
IRS990ScheduleD/OtherRevenuesNotIncludedAmt09068
IRS990ScheduleD/RevenueNotReportedAmt0-318160
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt09068
IRS990ScheduleD/RevenueSubtotalAmt05392425
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE SCHOOL AND RECOGNIZE A TAX LIABILITY IF THE SCHOOL HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE SCHOOL IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE TAX RETURNS FOR THE YEARS ENDED JUNE 30, 2015, AND AFTER ARE OPEN TO EXAMINATION BY FEDERAL AND LOCAL AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FINANCIAL AID TUITION ASSISTANCE -318,160.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2IN-KIND DONATIONS 9,068.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3FINANCIAL AID TUITION ASSISTANCE 318,160. IN-KIND DONATIONS 9,068.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt016943604
IRS990ScheduleD/TotalExpensesPerForm990Amt04975209
IRS990ScheduleD/TotalRevenuePerForm990Amt05401493
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05074265
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04647981
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd00
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd00
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL PUBLISHES ITS RACIALLY NONDISCRIMINATION POLICY IN MULTIPLE PLACES ON ITS WEBSITE WHICH SERVES AS THE SCHOOL'S PRIMARY MARKETING AND PROMOTIONAL VEHICLE.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0318160
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0TUITION ASSISTANCE
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc0CREDIT APPLIED TO TUITION INVOICE
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt093
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc0FMV
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0VERITAS USES AN INDEPENDENT, THIRD PARTY TO PROVIDE A RECOMMENDATION AS TO THE AMOUNT OF AID IT SHOULD CONSIDER PROVIDING A FAMILY BASED ON THE THIRD PARTY'S ASSESSMENT OF THE FAMILY'S FINANCIAL NEEDS. THE THIRD PARTY BASES THEIR RECOMMENDATION ON THE FINANCIAL DOCUMENTS PROVIDED BY THE FAMILY. VERITAS DOES NOT GIVE CASH AWARDS TO THE FAMILIES. INSTEAD, THE SCHOOL IMMEDIATELY APPLIES CREDITS AGAINST FAMILIES' TUITION INVOICES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0136350
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt040568
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$27.1$11.8$15.3$14.2$8.73$5.45
2023Detailed filing. Detailed filing data is available for this year.$21.7$12.0$9.75$9.48$8.10$1.38
2022Detailed filing. Detailed filing data is available for this year.$19.5$11.8$7.69$7.50$7.17$0.34
2021Detailed filing. Detailed filing data is available for this year.$19.0$11.6$7.35$7.46$6.37$1.09
2020Detailed filing. Detailed filing data is available for this year.$18.8$12.6$6.26$5.69$6.23$0.54
2019Detailed filing. Detailed filing data is available for this year.$19.1$12.3$6.80$5.54$6.01$0.47
2018Detailed filing. Detailed filing data is available for this year.$19.2$12.0$7.27$5.40$4.98$0.43
2017Detailed filing. Detailed filing data is available for this year.$11.1$4.30$6.84$7.26$4.68$2.58
2016Detailed filing. Detailed filing data is available for this year.$7.92$3.66$4.26$6.42$4.42$2.01
2015Detailed filing. Detailed filing data is available for this year.$5.80$3.55$2.25$3.74$3.76$0.01
2014Detailed filing. Detailed filing data is available for this year.$5.69$3.41$2.28$3.36$3.28$0.08
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.66$3.45$2.21$2.95
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.68$1.09$0.58$2.76
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.73$1.10$0.63$2.22
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.47$0.83$0.64$1.85