Civic Intelligence

Veritas College Preparatory Leadership Academy

990 • Fiscal year 2017 • EIN 26-4135406

Jul 01, 2016 to Jun 30, 2017 • Filed on May 11, 2018

Organization ProfileWWW.VERITASCOLLEGEPREP.ORG
1500 Dunn AvenuneMemphis, TN 38106

(901) 526-1900

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.57x

Higher debt load relative to assets than 83% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

63rd percentile

0.19x

Higher debt load relative to revenue than 63% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

75th percentile

17%

Higher net margin than 75% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

56th percentile

$75,131

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 5.1% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

76th percentile

15%

Faster asset growth than 76% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

22nd percentile

-8.7%

Faster revenue growth than 22% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$489,353

Up $63,945 (+15%) from 2016

Net Assets

Up

$208,288

Up $249,942 (+600%) from 2016

Liabilities

Down

$281,065

Down $185,997 (-40%) from 2016

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin75th percentile

Revenue

Down

$1,461,814

Down $139,752 (-8.7%) from 2016

Expenses

Down

$1,211,872

Down $281,684 (-19%) from 2016

Net Income

Up

$249,942

Up $141,932 (+131%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth76th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2010: $286,158Liabilities 2010: $0Net Assets 2010: $286,1582010Assets 2011: $406,607Liabilities 2011: $89,963Net Assets 2011: $316,6442011Assets 2012: $351,548Liabilities 2012: $233,766Net Assets 2012: $117,7822012Assets 2013: $222,776Liabilities 2013: $379,084Net Assets 2013: -$156,3082013Assets 2014: $90,596Liabilities 2014: $238,605Net Assets 2014: -$148,0092014Assets 2015: $299,265Liabilities 2015: $448,929Net Assets 2015: -$149,6642015Assets 2016: $425,408Liabilities 2016: $467,062Net Assets 2016: -$41,6542016Assets 2017: $489,353Liabilities 2017: $281,065Net Assets 2017: $208,2882017Assets 2018: $514,769Liabilities 2018: $271,828Net Assets 2018: $242,9412018Assets 2019: $605,887Liabilities 2019: $276,200Net Assets 2019: $329,6872019Assets 2020: $1,009,225Liabilities 2020: $264,526Net Assets 2020: $744,6992020Assets 2021: $1,116,362Liabilities 2021: $246,790Net Assets 2021: $869,5722021Assets 2022: $2,236,920Liabilities 2022: $1,284,988Net Assets 2022: $951,9322022Assets 2023: $2,012,438Liabilities 2023: $626,012Net Assets 2023: $1,386,4262023Assets 2024: $1,911,211Liabilities 2024: $467,307Net Assets 2024: $1,443,9042024

Highlighted filing

2017

Assets$489,353
Liabilities$281,065
Net Assets$208,288
Open 2017 Filing

Operations Trend

Revenue Growth22nd percentile

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

$3.0M$2.0M$1.0M$0Revenue 2010: $398,404Expenses 2010: $112,246Net Income 2010: $286,1582010Expenses 2011: $1,207,9552011Expenses 2012: $1,766,0962012Expenses 2013: $1,864,2822013Revenue 2014: $1,918,871Expenses 2014: $1,910,572Net Income 2014: $8,2992014Revenue 2015: $1,843,023Expenses 2015: $1,626,741Net Income 2015: $216,2822015Revenue 2016: $1,601,566Expenses 2016: $1,493,556Net Income 2016: $108,0102016Revenue 2017: $1,461,814Expenses 2017: $1,211,872Net Income 2017: $249,9422017Revenue 2018: $1,481,000Expenses 2018: $1,446,347Net Income 2018: $34,6532018Revenue 2019: $1,373,484Expenses 2019: $1,286,738Net Income 2019: $86,7462019Revenue 2020: $1,866,057Expenses 2020: $1,451,045Net Income 2020: $415,0122020Revenue 2021: $1,596,034Expenses 2021: $1,471,161Net Income 2021: $124,8732021Revenue 2022: $1,648,675Expenses 2022: $1,566,315Net Income 2022: $82,3602022Revenue 2023: $2,523,828Expenses 2023: $2,089,334Net Income 2023: $434,4942023Revenue 2024: $2,449,506Expenses 2024: $2,392,028Net Income 2024: $57,4782024

Highlighted filing

2017

Revenue$1,461,814
Expenses$1,211,872
Net Income$249,942
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 11, 2018
Return Version
2016v3.0
Gross Receipts
$1,465,430
Mission and Program Overview

Mission

The organization prepares memphis students in grades six through eight to excel in high school and college as accomplished scholars and to contribute to their communities as ethical leaders.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$141,728$121,681▼ $20,047
Cash and Non-Interest-Bearing Accounts$4,376$50,185▲ $45,809
Accounts Receivable$1,676$1,571▼ $105
Prepaid Expenses and Deferred Charges$1,700$1,100▼ $600
Total Assets$425,408$489,353▲ $63,945
Other Assets Total$275,928$314,816▲ $38,888
Liabilities
Accounts Payable and Accrued Expenses$213,145$144,235▼ $68,910
Unsecured Notes Loans Payable$64,750$78,846▲ $14,096
Other Liabilities$189,167$57,984▼ $131,183
Total Liabilities$467,062$281,065▼ $185,997
Net Assets / Fund Balance
Unrestricted Net Assets$-41,654$208,288▲ $249,942
Total Net Assets Fund Balance$-41,654$208,288▲ $249,942
Total Liabilities and Net Assets / Fund Balance$425,408$489,353▲ $63,945

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$112,500$12,500$125,000
Equipment$9,181$79,219$88,400
Other Assets Org$75,992--
Compensation and Service Providers
Top Officer Pay56th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Nick GetschmanExecutive DirectorFT$75,131$75,131
Marvelle PorterDean of Student LifeFT$58,542$58,542

Board Members and Trustees

NameTitle
Matt WeathersbyPresident
Liz MckeeVice President
Andrew SchaefferBoard Member
Eiko HarrisBoard Member
Gregory DavisBoard Member
Jeremy GrayBoard Member
Marty WickBoard Member
Tiffanee Wade-hendersonBoard Member
Sonya FleckSecretary
Travis LemonteTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,337,687
Program Service Revenue
$14,213
Investment Income
$0
Other Revenue
$109,914
All Other Contributions
$95,166
Change in Net Assets
$249,942

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,356,966
Revenue Not Reported on Financial Statements
$104,848
Revenue Not Reported on Form 990
$3,616
Other Revenue Adjustments
$104,848
Total Revenue per Audited Statements
$1,360,582
Total Revenue per Form 990
$1,461,814
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$767,401
Other Expenses$444,471
Total Fundraising Expense$40,977
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$494,364$37,192-$531,556
Occupancy$159,716$18,932-$178,648
Current Officers, Directors, Trustees, and Key Employees$61,335$35,916$37,566$134,817
Other Employee Benefits$37,344$13,935-$51,279
Payroll Taxes$39,562$5,593$2,874$48,029
Other Expenses$36,322$28,899-$28,899
Fees for Services Accounting-$20,763-$20,763
Depreciation Depletion$18,798$1,250-$20,048
Insurance-$17,034-$17,034
All Other Expenses$6,358$3,093-$9,451
Interest-$2,301-$2,301
Pension Plan Contributions-$1,183$537$1,720
Office Expenses-$1,500-$1,500
Total Functional Expenses$972,388$198,507$40,977$1,211,872

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,211,872
Total Expenses per Form 990$1,211,872
Total Expenses per Audited Statements$1,110,640
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$-101,232
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$8,682
Fundraising Direct Expenses$3,616
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Pension Liability$37,077
Deferred Inflows - Pension$20,907
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
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
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 B, Line 11B

“The return preparer provided a copy of the final version of form 990 to the board of directors before it was filed. Additionally, the board of directors reviewed and approved the return before it was filed.”

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

“The board and the executive director annually reviews and enforces the conflict of interest policy.”

Form 990, Part VI, Section C, Line 19

“Veritas college preparatory leadership academy provides its financial statements or other governing documents for public inspection upon request.”

Filing and Contact Details

Filer

Filer Name
Veritas College Preparatory
EIN
26-4135406
Phone
9015261900
Address
1500 DUNN AVENUNE, MEMPHIS, TN 38106

Signing Officer

Name
Matt Weathersby
Title
Chairman
Phone
9015261900
Signed
2018-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matt Weathersby
Formed
2009
Legal Domicile
Tn
Voting Board Members
10
Independent Board Members
10
Employees
20
Volunteers
0

Preparer

Firm
Henderson Hutcherson & Mccullough Pllc
Address
1755 KIRBY PARKWAY SUITE 200, MEMPHIS, TN 38120
Preparer
Richard a Swope CPA
Phone
9016834234
Supplemental Narrative

Additional Explanations

Part XI, Line 2C

“The process used by the committee to oversee and audit has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“Accounting principles generally accepted in the united states of america requires management of the school to evaluate tax positions taken by the school and recognize a tax liability (or asset) if the school has taken an uncertain position that more likely than not would not be sustained upon examination by the irs. The school has analyzed the tax positions taken by the school and has concluded that as of june 30, 2017, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The school is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any tax periods. The school believes it is no longer subject to income tax examinations for years prior to june 30, 2014.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Fundraising expense netted with fundraising revenue 3,616.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Pension - gasb68 adoption 104,848.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Pension - gasb 68 adoption -104,848. Fundraising expense netted with fundraising revenue 3,616.”

XI, Line 4B and XII, Line 2D

“The school has adopted gasb 68 related to pensions and is required to adjust the pension contribution each year based on the information provided by the state goverment. In the current year, there was a negative $104,848 pension expense after the adjustments. This item was moved to the income section on the return.”

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IRS990/NetAssetsOrFundBalancesEOYAmt0208288
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt05066
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt05066
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt018932
IRS990/OccupancyGrp/ProgramServicesAmt0159716
IRS990/OccupancyGrp/TotalAmt0178648
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01500
IRS990/OfficeExpensesGrp/TotalAmt01500
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0275928
IRS990/OtherAssetsTotalGrp/EOYAmt0314816
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt013935
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt037344
IRS990/OtherEmployeeBenefitsGrp/TotalAmt051279
IRS990/OtherExpensesGrp/Desc0BUS LEASING
IRS990/OtherExpensesGrp/Desc1SUPPLIES EXPENSE
IRS990/OtherExpensesGrp/Desc2PROFESSIONAL DEVELOPMEN
IRS990/OtherExpensesGrp/Desc3EQUIPMENT LEASING
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt010916
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt128899
IRS990/OtherExpensesGrp/ProgramServicesAmt078231
IRS990/OtherExpensesGrp/ProgramServicesAmt140358
IRS990/OtherExpensesGrp/ProgramServicesAmt236322
IRS990/OtherExpensesGrp/TotalAmt078231
IRS990/OtherExpensesGrp/TotalAmt151274
IRS990/OtherExpensesGrp/TotalAmt236322
IRS990/OtherExpensesGrp/TotalAmt328899
IRS990/OtherLiabilitiesGrp/BOYAmt0189167
IRS990/OtherLiabilitiesGrp/EOYAmt057984
IRS990/OtherRevenueMiscGrp/BusinessCd0611620
IRS990/OtherRevenueMiscGrp/Desc0PENSION-GASB68 ADOPTIO
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0104848
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0104848
IRS990/OtherRevenueTotalAmt0104848
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt037192
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0494364
IRS990/OtherSalariesAndWagesGrp/TotalAmt0531556
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt02874
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05593
IRS990/PayrollTaxesGrp/ProgramServicesAmt039562
IRS990/PayrollTaxesGrp/TotalAmt048029
IRS990/PensionPlanContributionsGrp/FundraisingAmt0537
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt01183
IRS990/PensionPlanContributionsGrp/TotalAmt01720
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01700
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01100
IRS990/PrincipalOfficerNm0MATT WEATHERSBY
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/Desc0VARIOUS PROGRAM REVENU
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt014213
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt014213
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01426543
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01
IRS990/PYOtherExpensesAmt0532040
IRS990/PYOtherRevenueAmt0140441
IRS990/PYProgramServiceRevenueAmt034581
IRS990/PYRevenuesLessExpensesAmt0108010
IRS990/PYSalariesCompEmpBnftPaidAmt0961516
IRS990/PYTotalExpensesAmt01493556
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01601566
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0249942
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0119061
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt09181
IRS990ScheduleD/EquipmentGrp/DepreciationAmt079219
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt088400
IRS990ScheduleD/ExpensesNotReportedAmt0-101232
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01211872
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0112500
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt012500
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0125000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0238824
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt175992
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEFERRED OUTFLOWS - PENSION
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1NET PENSION ASSETS
IRS990ScheduleD/OtherExpensesIncludedAmt0-101232
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt020907
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt137077
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED INFLOWS - PENSION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NET PENSION LIABILITY
IRS990ScheduleD/OtherRevenueAmt03616
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0104848
IRS990ScheduleD/RevenueNotReportedAmt03616
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0104848
IRS990ScheduleD/RevenueSubtotalAmt01356966
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES MANAGEMENT OF THE SCHOOL TO EVALUATE TAX POSITIONS TAKEN BY THE SCHOOL AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE SCHOOL HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. THE SCHOOL HAS ANALYZED THE TAX POSITIONS TAKEN BY THE SCHOOL AND HAS CONCLUDED THAT AS OF JUNE 30, 2017, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE SCHOOL IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS IN PROGRESS FOR ANY TAX PERIODS. THE SCHOOL BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO JUNE 30, 2014.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FUNDRAISING EXPENSE NETTED WITH FUNDRAISING REVENUE 3,616.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2PENSION - GASB68 ADOPTION 104,848.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3PENSION - GASB 68 ADOPTION -104,848. FUNDRAISING EXPENSE NETTED WITH FUNDRAISING REVENUE 3,616.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt4THE SCHOOL HAS ADOPTED GASB 68 RELATED TO PENSIONS AND IS REQUIRED TO ADJUST THE PENSION CONTRIBUTION EACH YEAR BASED ON THE INFORMATION PROVIDED BY THE STATE GOVERMENT. IN THE CURRENT YEAR, THERE WAS A NEGATIVE $104,848 PENSION EXPENSE AFTER THE ADJUSTMENTS. THIS ITEM WAS MOVED TO THE INCOME SECTION ON THE RETURN.
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 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc4XI, LINE 4B AND XII, LINE 2D
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0121681
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0314816
IRS990ScheduleD/TotalExpensesPerForm990Amt01211872
IRS990ScheduleD/TotalLiabilityAmt057984
IRS990ScheduleD/TotalRevenuePerForm990Amt01461814
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01360582
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01110640
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL MEETS REV. PROC. 75-50, 1975-2 C.B. 587 SECTION 4.0 (2)C BY DRAWING STUDENTS FROM LOCAL COMMUNITIES.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL RECEIVES FUNDS FROM THE STATE OF TENNESSEE DEPARTMENT OF EDUCATION.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE RETURN PREPARER PROVIDED A COPY OF THE FINAL VERSION OF FORM 990 TO THE BOARD OF DIRECTORS BEFORE IT WAS FILED. ADDITIONALLY, THE BOARD OF DIRECTORS REVIEWED AND APPROVED THE RETURN BEFORE IT WAS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD AND THE EXECUTIVE DIRECTOR ANNUALLY REVIEWS AND ENFORCES THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2VERITAS COLLEGE PREPARATORY LEADERSHIP ACADEMY PROVIDES ITS FINANCIAL STATEMENTS OR OTHER GOVERNING DOCUMENTS FOR PUBLIC INSPECTION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PROCESS USED BY THE COMMITTEE TO OVERSEE AND AUDIT HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XI, LINE 2C
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0TN
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0425408
IRS990/TotalAssetsEOYAmt0489353
IRS990/TotalAssetsGrp/BOYAmt0425408
IRS990/TotalAssetsGrp/EOYAmt0489353
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01337687
IRS990/TotalEmployeeCnt020
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt040977
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0198507

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$489,353
Liabilities
$281,065
Net assets
$208,288
Revenue
$1,461,814
Expenses
$1,211,872
Net income
$249,942
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.91$0.47$1.44$2.45$2.39$0.06
2023Detailed filing. Detailed filing data is available for this year.$2.01$0.63$1.39$2.52$2.09$0.43
2022Detailed filing. Detailed filing data is available for this year.$2.24$1.28$0.95$1.65$1.57$0.08
2021Detailed filing. Detailed filing data is available for this year.$1.12$0.25$0.87$1.60$1.47$0.12
2020Detailed filing. Detailed filing data is available for this year.$1.01$0.26$0.74$1.87$1.45$0.42
2019Detailed filing. Detailed filing data is available for this year.$0.61$0.28$0.33$1.37$1.29$0.09
2018Detailed filing. Detailed filing data is available for this year.$0.51$0.27$0.24$1.48$1.45$0.03
2017Detailed filing. Detailed filing data is available for this year.$0.49$0.28$0.21$1.46$1.21$0.25
2016Detailed filing. Detailed filing data is available for this year.$0.43$0.47$0.04$1.60$1.49$0.11
2015Detailed filing. Detailed filing data is available for this year.$0.30$0.45$0.15$1.84$1.63$0.22
2014Detailed filing. Detailed filing data is available for this year.$0.09$0.24$0.15$1.92$1.91$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.22$0.38$0.16$1.86
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.35$0.23$0.12$1.77
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.41$0.09$0.32$1.21
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.29$0.00$0.29$0.40$0.11$0.29