Liabilities / Assets
93rd percentile
Higher debt load relative to assets than 93% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.78x
Liabilities / Revenue
80th percentile
Higher debt load relative to revenue than 80% of similar nonprofits.
Net Margin
34th percentile
Higher net margin than 34% of similar nonprofits.
Top Officer Pay
93rd percentile
Higher top officer pay than 93% of similar nonprofits.
Top officer pay equals 28.0% of source-year revenue.
Asset Growth
Score unavailable
No earlier valid filing was available within the previous three public years.
Revenue Growth
Score unavailable
No earlier valid filing was available within the previous three public years.
Balance Sheet
Assets
$17,842
No earlier filing loaded for comparison.
Net Assets
$3,847
No earlier filing loaded for comparison.
Liabilities
$13,995
No earlier filing loaded for comparison.
Revenue And Expenses
Revenue
$192,917
No earlier filing loaded for comparison.
Expenses
$198,276
No earlier filing loaded for comparison.
Net Income
-$5,359
No earlier filing loaded for comparison.
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2017 to Jun 30, 2018
- Signed
- May 15, 2019
- Return Version
- 2017v2.3
- Gross Receipts
- $197,822
Mission and Program Overview
Mission
The primary exempt purpose of the corporation is to operate a school (kindergarten through 12th grade), that closely adheres to the statement of faith and purpose as set out in sections 1 and 2 of article ii of the corporations by laws.
Program Services
| Description | Grants | Expenses |
|---|---|---|
| DURING THE FISCAL YEAR ENDED JUNE 30, 2018 THE SCHOOL SERVED A TOTAL OF 53 STUDENTS, HAD A TEACHING STAFF OF 11 TEACHERS, OFFERED CLASSES FOR ALL GRADES OF KINDERGARTEN THROUGH 12TH GRADE AND GRADUATED 3 STUDENTS. | - | $198,276 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| JOE BEN HOUSE | Headmaster | FT | $54,000 | - | $54,000 |
| RICHARD HORNOK | Board Secret | - | $0 | - | - |
| JON CARNES | Board Chairm | - | $0 | - | - |
| CHANSE MCGUIRE | Director | - | $0 | - | - |
Filing and Contact Details
Filer
- Filer Name
- Veritas Academy
- EIN
- 26-3751359
- Phone
- 8707720646
- Address
- 2101 E 50TH ST, TEXARKANA, AR 71854
Signing Officer
- Name
- Joe Ben House
- Title
- Headmaster
- Phone
- 8707720646
- Signed
- 2019-05-15
- Discuss with paid preparer
- Yes
Preparer
- Firm
- Holliday Lemons & Cox Pc
- Address
- 2001 MOORES LANE, TEXARKANA, TX 75503
- Preparer
- Troy D Lemons
- Phone
- 9038232727
Supplemental Narrative
Additional Explanations
Form 990-ez, Part I, Line 16
“Expenses office 953 interest 425 insurance 250 student activities 3,982 text books 2,991 substitute teachers 140 testing 399 dues & subscriptions 591 class room supplies 1,261 class room resources 700 non-investment depreciation 720 total 12,412”
Form 990-ez, Part II, Line 24
“Accounts receivable 2,705 1,476 furniture & equipment 38,461 39,070 less accumulated depreciation 37,388 38,107 income tax refund receivable 6,030 6,030 total 9,808 8,469”
Form 990-ez, Part II, Line 26
“Accounts payable and accrued expenses 700 3,261 deferred revenue 0 2,779 accrued & wh liabilities 7,167 7,955”
Form 990-ez, Part III
“The primary exempt purpose of the corporation is to operate a school (kindergarten through 12th grade), that closely adheres to the statement of faith and purpose as set out in sections 1 and 2 of article ii of the corporations by laws.”
Raw XML Appendix148 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
| Path | # | Value |
|---|---|---|
| IRS990EZ/ActivitiesNotPreviouslyRptInd | 0 | false |
| IRS990EZ/BooksInCareOfDetail/PersonNm | 0 | MARLA ROBERTS |
| IRS990EZ/BooksInCareOfDetail/PhoneNum | 0 | 8707720646 |
| IRS990EZ/BooksInCareOfDetail/USAddress/AddressLine1Txt | 0 | 2101 E 50TH ST |
| IRS990EZ/BooksInCareOfDetail/USAddress/CityNm | 0 | TEXARKANA |
| IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd | 0 | AR |
| IRS990EZ/BooksInCareOfDetail/USAddress/ZIPCd | 0 | 71854 |
| IRS990EZ/CashSavingsAndInvestmentsGrp/BOYAmt | 0 | 7265 |
| IRS990EZ/CashSavingsAndInvestmentsGrp/EOYAmt | 0 | 9373 |
| IRS990EZ/ChgMadeToOrgnzngDocNotRptInd | 0 | false |
| IRS990EZ/ContributionsGiftsGrantsEtcAmt | 0 | 17475 |
| IRS990EZ/DonorAdvisedFndsInd | 0 | false |
| IRS990EZ/EngagedInExcessBenefitTransInd | 0 | false |
| IRS990EZ/ExcessOrDeficitForYearAmt | 0 | -5359 |
| IRS990EZ/FeesAndOtherPymtToIndCntrctAmt | 0 | 5185 |
| IRS990EZ/FiledScheduleAInd | 0 | true |
| IRS990EZ/ForeignFinancialAccountInd | 0 | false |
| IRS990EZ/ForeignOfficeInd | 0 | false |
| IRS990EZ/Form1120PolFiledInd | 0 | false |
| IRS990EZ/Form990TotalAssetsGrp/BOYAmt | 0 | 17073 |
| IRS990EZ/Form990TotalAssetsGrp/EOYAmt | 0 | 17842 |
| IRS990EZ/FundraisingGrossIncomeAmt | 0 | 5739 |
| IRS990EZ/GamingGrossIncomeAmt | 0 | 9800 |
| IRS990EZ/GrossReceiptsAmt | 0 | 197822 |
| IRS990EZ/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990EZ/InfoInScheduleOPartIIInd | 0 | X |
| IRS990EZ/InfoInScheduleOPartIInd | 0 | X |
| IRS990EZ/InvestmentIncomeAmt | 0 | 12 |
| IRS990EZ/LobbyingActivitiesInd | 0 | false |
| IRS990EZ/MadeLoansToFromOfficersInd | 0 | false |
| IRS990EZ/MethodOfAccountingAccrualInd | 0 | X |
| IRS990EZ/NetAssetsOrFundBalancesBOYAmt | 0 | 9206 |
| IRS990EZ/NetAssetsOrFundBalancesEOYAmt | 0 | 3847 |
| IRS990EZ/NetAssetsOrFundBalancesGrp/BOYAmt | 0 | 9206 |
| IRS990EZ/NetAssetsOrFundBalancesGrp/EOYAmt | 0 | 3847 |
| IRS990EZ/OccupancyRentUtltsAndMaintAmt | 0 | 517 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 0 | 2.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 1 | 2.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 2 | 40.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 3 | 2.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 0 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 1 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 2 | 54000 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 3 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 0 | RICHARD HORNOK |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 1 | JON CARNES |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 2 | JOE BEN HOUSE |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 3 | CHANSE MCGUIRE |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 0 | BOARD SECRET |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 1 | BOARD CHAIRM |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 2 | HEADMASTER |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 3 | DIRECTOR |
| IRS990EZ/OperateHospitalInd | 0 | false |
| IRS990EZ/Organization501c3Ind | 0 | X |
| IRS990EZ/OrganizationDissolvedEtcInd | 0 | false |
| IRS990EZ/OrganizationHadUBIInd | 0 | false |
| IRS990EZ/OtherAssetsTotalDetail/BOYAmt | 0 | 9808 |
| IRS990EZ/OtherAssetsTotalDetail/EOYAmt | 0 | 8469 |
| IRS990EZ/OtherExpensesTotalAmt | 0 | 12412 |
| IRS990EZ/PartVIHghstPdCntrctProfSrvcTxt | 0 | NONE |
| IRS990EZ/PartVIOfCompOfHghstPdEmplTxt | 0 | NONE |
| IRS990EZ/PoliticalCampaignActyInd | 0 | false |
| IRS990EZ/PrimaryExemptPurposeTxt | 0 | THE PRIMARY EXEMPT PURPOSE OF THE CORPORATION IS TO OPERATE A SCHOOL (KINDERGARTEN THROUGH 12TH GRADE), THAT CLOSELY ADHERES TO THE STATEMENT OF FAITH AND PURPOSE AS SET OUT IN SECTIONS 1 AND 2 OF ARTICLE II OF THE CORPORATIONS BY LAWS. |
| IRS990EZ/PrintingPublicationsPostageAmt | 0 | 1201 |
| IRS990EZ/ProgramServiceRevenueAmt | 0 | 164796 |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt | 0 | DURING THE FISCAL YEAR ENDED JUNE 30, 2018 THE SCHOOL SERVED A TOTAL OF 53 STUDENTS, HAD A TEACHING STAFF OF 11 TEACHERS, OFFERED CLASSES FOR ALL GRADES OF KINDERGARTEN THROUGH 12TH GRADE AND GRADUATED 3 STUDENTS. |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt | 0 | 198276 |
| IRS990EZ/ProhibitedTaxShelterTransInd | 0 | false |
| IRS990EZ/RelatedOrganizationCtrlEntInd | 0 | false |
| IRS990EZ/SalariesOtherCompEmplBnftAmt | 0 | 178961 |
| IRS990EZ/SchoolOperatingInd | 0 | true |
| IRS990EZ/SpecialEventsDirectExpensesAmt | 0 | 4905 |
| IRS990EZ/SpecialEventsNetIncomeLossAmt | 0 | 10634 |
| IRS990EZ/SubjectToProxyTaxInd | 0 | false |
| IRS990EZ/SumOfTotalLiabilitiesGrp/BOYAmt | 0 | 7867 |
| IRS990EZ/SumOfTotalLiabilitiesGrp/EOYAmt | 0 | 13995 |
| IRS990EZ/TanningServicesProvidedInd | 0 | false |
| IRS990EZ/TotalExpensesAmt | 0 | 198276 |
| IRS990EZ/TotalProgramServiceExpensesAmt | 0 | 198276 |
| IRS990EZ/TotalRevenueAmt | 0 | 192917 |
| IRS990EZ/TransactionWithControlEntInd | 0 | false |
| IRS990EZ/TrnsfrExmptNonChrtblRltdOrgInd | 0 | false |
| IRS990EZ/TypeOfOrganizationCorpInd | 0 | X |
| IRS990EZ/WebsiteAddressTxt | 0 | VERITASACADEMYTXK.COM |
| IRS990ScheduleA/SchoolInd | 0 | X |
| IRS990ScheduleE/ComplianceWithRevProc7550Ind | 0 | true |
| IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd | 0 | false |
| IRS990ScheduleE/DiscriminateRaceAthltProgInd | 0 | false |
| IRS990ScheduleE/DiscriminateRaceEducPlcyInd | 0 | false |
| IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd | 0 | false |
| IRS990ScheduleE/DiscriminateRaceOtherActyInd | 0 | false |
| IRS990ScheduleE/DiscriminateRaceSchsInd | 0 | false |
| IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd | 0 | false |
| IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd | 0 | false |
| IRS990ScheduleE/GovernmentFinancialAidRcvdInd | 0 | false |
| IRS990ScheduleE/GovernmentFinancialAidRvkdInd | 0 | false |
| IRS990ScheduleE/MaintainCpyOfAllSolInd | 0 | true |
| IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd | 0 | true |
| IRS990ScheduleE/MaintainRacialCompRecsInd | 0 | true |
| IRS990ScheduleE/MaintainScholarshipsRecsInd | 0 | true |
| IRS990ScheduleE/NondiscriminatoryPolicyStmtInd | 0 | true |
| IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd | 0 | true |
| IRS990ScheduleE/PolicyStmtInBrochuresEtcInd | 0 | true |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 0 | THE ACADEMY'S NONDISCRIMINATION POLICY IS PUBLISHED ON IT'S WEBSITE VERITASACADEMYTXK.COM AND A COPY OF THE POLICY IS INCLUDED IN ALL MATERIALS DISTRIBUTED TO PROSPECTIVE STUDENTS. |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE E, LINE 3 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | EXPENSES OFFICE 953 INTEREST 425 INSURANCE 250 STUDENT ACTIVITIES 3,982 TEXT BOOKS 2,991 SUBSTITUTE TEACHERS 140 TESTING 399 DUES & SUBSCRIPTIONS 591 CLASS ROOM SUPPLIES 1,261 CLASS ROOM RESOURCES 700 NON-INVESTMENT DEPRECIATION 720 TOTAL 12,412 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | ACCOUNTS RECEIVABLE 2,705 1,476 FURNITURE & EQUIPMENT 38,461 39,070 LESS ACCUMULATED DEPRECIATION 37,388 38,107 INCOME TAX REFUND RECEIVABLE 6,030 6,030 TOTAL 9,808 8,469 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | ACCOUNTS PAYABLE AND ACCRUED EXPENSES 700 3,261 DEFERRED REVENUE 0 2,779 ACCRUED & WH LIABILITIES 7,167 7,955 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE PRIMARY EXEMPT PURPOSE OF THE CORPORATION IS TO OPERATE A SCHOOL (KINDERGARTEN THROUGH 12TH GRADE), THAT CLOSELY ADHERES TO THE STATEMENT OF FAITH AND PURPOSE AS SET OUT IN SECTIONS 1 AND 2 OF ARTICLE II OF THE CORPORATIONS BY LAWS. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990-EZ, PART I, LINE 16 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990-EZ, PART II, LINE 24 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990-EZ, PART II, LINE 26 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990-EZ, PART III |
| ReturnHeader/BuildTS | 0 | 2019-02-21 02:37:17Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | true |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | JOE BEN HOUSE |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | HEADMASTER |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 8707720646 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2019-05-15 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | VERITAS ACADEMY |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | VERI |
| ReturnHeader/Filer/EIN | 0 | 263751359 |
| ReturnHeader/Filer/PhoneNum | 0 | 8707720646 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | 2101 E 50TH ST |
| ReturnHeader/Filer/USAddress/CityNm | 0 | TEXARKANA |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | AR |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 71854 |
| ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId | 0 | B04018FE5BFD1C583DF2D065874EC7A7B73F73C0 |
| ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId | 0 | B04018FE5BFD1C583DF2D065874EC7A7B73F73C0 |
| ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd | 0 | P |
| ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt | 0 | 96.18.59.118 |
| ReturnHeader/FilingSecurityInformation/IPDt | 0 | 2019-05-15 |
| ReturnHeader/FilingSecurityInformation/IPTimezoneCd | 0 | CD |
| ReturnHeader/FilingSecurityInformation/IPTm | 0 | 15:38:06 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 752240394 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | HOLLIDAY LEMONS & COX PC |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 2001 MOORES LANE |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | TEXARKANA |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | TX |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 75503 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 9038232727 |
| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2019-05-15 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | TROY D LEMONS |
| ReturnHeader/ReturnTs | 0 | 2019-05-15T15:38:06-05:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990EZ |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2017-07-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2018-06-30 |
| ReturnHeader/TaxYr | 0 | 2017 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2018 • Form 990EZDetailed filing. Detailed filing data is available for this year.
- Assets
- $17,842
- Liabilities
- $13,995
- Net assets
- $3,847
- Revenue
- $192,917
- Expenses
- $198,276
- Net income
- -$5,359