Civic Intelligence

Verity Institute Inc

990 • Fiscal year 2016 • EIN 37-1648432

Sep 01, 2015 to Aug 31, 2016 • Filed on Feb 09, 2017

Organization Profilewww.verityinstitute.org
601 Shortridge RdIndianapolis, IN 46219

(844) 383-7489

Siviq Scores

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

Liabilities / Assets

99th percentile

2.59x

Higher debt load relative to assets than 99% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

81st percentile

0.37x

Higher debt load relative to revenue than 81% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Net Margin

25th percentile

-7.7%

Higher net margin than 25% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

55th percentile

$25,481

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 5.6% of source-year revenue.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Asset Growth

9th percentile

-21%

Faster asset growth than 9% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

29th percentile

-7.3%

Faster revenue growth than 29% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$64,501

Down $17,445 (-21%) from 2015

Net Assets

Down

-$102,708

Down $35,004 (-52%) from 2015

Liabilities

Up

$167,209

Up $17,559 (+12%) from 2015

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin25th percentile

Revenue

Down

$456,617

Down $36,183 (-7.3%) from 2015

Expenses

Up

$491,621

Up $23,762 (+5.1%) from 2015

Net Income

Down

-$35,004

Down $59,945 (-240%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

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

$300K$200K$100K$0-$100K-$200KAssets 2012: $201,637Liabilities 2012: $172,738Net Assets 2012: $28,8992012Assets 2013: $180,713Liabilities 2013: $214,503Net Assets 2013: -$33,7902013Assets 2014: $49,775Liabilities 2014: $143,312Net Assets 2014: -$93,5372014Assets 2015: $81,946Liabilities 2015: $149,650Net Assets 2015: -$67,7042015Assets 2016: $64,501Liabilities 2016: $167,209Net Assets 2016: -$102,7082016

Highlighted filing

2016

Assets$64,501
Liabilities$167,209
Net Assets-$102,708
Open 2016 Filing

Operations Trend

Revenue Growth29th percentile

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

$1.0M$500K$0-$500KRevenue 2012: $365,245Expenses 2012: $336,346Net Income 2012: $28,8992012Revenue 2013: $805,270Expenses 2013: $849,765Net Income 2013: -$44,4952013Revenue 2014: $677,400Expenses 2014: $735,559Net Income 2014: -$58,1592014Revenue 2015: $492,800Expenses 2015: $467,859Net Income 2015: $24,9412015Revenue 2016: $456,617Expenses 2016: $491,621Net Income 2016: -$35,0042016

Highlighted filing

2016

Revenue$456,617
Expenses$491,621
Net Income-$35,004
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2015 to Aug 31, 2016
Signed
Feb 9, 2017
Return Version
2015v3.0
Gross Receipts
$609,988
Mission and Program Overview

Mission

To provide a Christian enviroment for an innovative college experience.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$55,351$39,684▼ $15,667
Accounts Receivable$22,867$23,117▲ $250
Savings and Temporary Cash Investments$3,728$1,700▼ $2,028
Total Assets$81,946$64,501▼ $17,445
Liabilities
Accounts Payable and Accrued Expenses$68,576$88,528▲ $19,952
Deferred Revenue$81,074$65,809▼ $15,265
Other Liabilities-$12,872-
Total Liabilities$149,650$167,209▲ $17,559
Net Assets / Fund Balance
Unrestricted Net Assets$-67,704$-102,708▼ $35,004
Total Net Assets Fund Balance$-67,704$-102,708▼ $35,004
Total Liabilities and Net Assets / Fund Balance$81,946$64,501▼ $17,445
Compensation and Service Providers
Top Officer Pay55th percentile

Employees

NameTitleBaseTotal
Kevin McCrayVice President$25,481$25,481
Brent ThomasCOO$24,086$24,086

Board Members and Trustees

NameTitle
Tim LevenduskyPresident
Anthony BurrisMember
Charles Stephen PaineMember
David YorkMember
Gil BatesMember
John StancilMember
Revenue and Support

Revenue Composition

Contributions and Grants
$66,667
Program Service Revenue
$329,032
Investment Income
$0
Other Revenue
$60,918
All Other Contributions
$66,667
Change in Net Assets
$-35,004
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$322,519
Other Expenses$169,102
Total Fundraising Expense$7,330
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$188,329$61,521$1,255$251,105
Other Expenses$50,339--$50,339
Occupancy$37,421$12,474-$49,895
Current Officers, Directors, Trustees, and Key Employees$32,219$12,392$4,956$49,567
Advertising$26,872--$26,872
Fees for Services Management$22,906--$22,906
Payroll Taxes$16,385$5,353$109$21,847
Office Expenses$10,456$1,857$480$12,793
Information Technology$3,443$1,324$530$5,297
Fees for Services Accounting-$1,000-$1,000
Total Functional Expenses$388,370$95,921$7,330$491,621
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$11,256
Payroll Liabilities$1,616
Deposits-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
No
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 COO reviews the 990 with the finance personnel prior to filing”

Form 990, Part VI, Section C, Line 19

“Financial Statements, governing documents, and policies are made available to the public by request only.”

Filing and Contact Details

Filer

Filer Name
Verity Institute Inc
EIN
37-1648432
Phone
8443837489
Address
601 Shortridge Rd, Indianapolis, IN 46219

Signing Officer

Name
Brent Thomas
Title
COO
Signed
2017-02-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Kevin McCray
Formed
2011
Legal Domicile
In
Voting Board Members
6
Independent Board Members
5
Employees
22
Volunteers
5

Preparer

Firm
Integrity Accounting
Address
2N615 Woodcrest Dr, West Chicago, IL 60185
Preparer
Ryan Uecke
Phone
6307421589
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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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Payroll Liabilities
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Deposits
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/TotalLiabilityAmt012872
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The COO reviews the 990 with the finance personnel prior to filing
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Financial Statements, governing documents, and policies are made available to the public by request only.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt081946
IRS990/TotalAssetsEOYAmt064501
IRS990/TotalAssetsGrp/BOYAmt081946
IRS990/TotalAssetsGrp/EOYAmt064501
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt066667
IRS990/TotalEmployeeCnt022
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt07330
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt095921
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0388370
IRS990/TotalFunctionalExpensesGrp/TotalAmt0491621
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0149650
IRS990/TotalLiabilitiesEOYAmt0167209
IRS990/TotalLiabilitiesGrp/BOYAmt0149650
IRS990/TotalLiabilitiesGrp/EOYAmt0167209
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-67704
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-102708
IRS990/TotalProgramServiceExpensesAmt0388370
IRS990/TotalProgramServiceRevenueAmt0329032
IRS990/TotalReportableCompFromOrgAmt049567
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0456617
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt081946
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt064501
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-67704
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-102708
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt07718 West Hwy 52
IRS990/USAddress/CityNm0New Palestine
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd046163
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.verityinstitute.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Brent Thomas
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0COO
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Verity Institute Inc
ReturnHeader/Filer/BusinessNameControlTxt0VERI
ReturnHeader/Filer/EIN0371648432
ReturnHeader/Filer/PhoneNum08443837489
ReturnHeader/Filer/USAddress/AddressLine1Txt0601 Shortridge Rd
ReturnHeader/Filer/USAddress/CityNm0Indianapolis
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd046219
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Integrity Accounting
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02N615 Woodcrest Dr
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0West Chicago
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060185
ReturnHeader/PreparerPersonGrp/PhoneNum06307421589
ReturnHeader/PreparerPersonGrp/PreparationDt02017-02-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Ryan Uecke
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02017-02-09T11:25:24-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-09-01
ReturnHeader/TaxPeriodEndDt02016-08-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$64,501
Liabilities
$167,209
Net assets
-$102,708
Revenue
$456,617
Expenses
$491,621
Net income
-$35,004
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$0.65$1.67$1.03$4.57$4.92$0.35
2015Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$0.82$1.50$0.68$4.93$4.68$0.25
2014Detailed filing. Detailed filing data is available for this year.$0.50$1.43$0.94$6.77$7.36$0.58
2013Summary only. Only limited summary data is available for this year.$1.81$2.15$0.34$8.05$8.50$0.44
2012Summary only. Only limited summary data is available for this year.$2.02$1.73$0.29$3.65$3.36$0.29