Civic Intelligence

Veritas Classical Academy

990 • Fiscal year 2020 • EIN 46-0659218

Jul 01, 2019 to Jun 30, 2020 • Filed on Feb 04, 2021

Organization ProfileWWW.VERITASCLASSICALACADEMY.COM
1601 West Malvern AveFullerton, CA 92833-2401

(949) 557-1311

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.26x

Higher debt load relative to assets than 73% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

57th percentile

0.10x

Higher debt load relative to revenue than 57% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

49th percentile

5.5%

Higher net margin than 49% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

67th percentile

$50,183

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 5.2% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

86th percentile

69%

Faster asset growth than 86% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

74th percentile

20%

Faster revenue growth than 74% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$368,370

Up $149,839 (+69%) from 2019

Net Assets

Up

$271,488

Up $52,957 (+24%) from 2019

Liabilities

Up

$96,882

Up $96,882 from 2019

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin49th percentile

Revenue

Up

$959,723

Up $160,619 (+20%) from 2019

Expenses

Up

$906,766

Up $58,229 (+6.9%) from 2019

Net Income

Up

$52,957

Up $102,390 (+207%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth86th percentile

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

$1.0M$500K$0Assets 2013: $1,078Liabilities 2013: $02013Assets 2014: $9,712Liabilities 2014: $02014Assets 2015: $15,186Liabilities 2015: $10,576Net Assets 2015: $4,6102015Assets 2016: $430Liabilities 2016: $0Net Assets 2016: $4302016Assets 2017: $151,150Liabilities 2017: $0Net Assets 2017: $151,1502017Assets 2018: $267,964Liabilities 2018: $0Net Assets 2018: $267,9642018Assets 2019: $218,531Liabilities 2019: $0Net Assets 2019: $218,5312019Assets 2020: $368,370Liabilities 2020: $96,882Net Assets 2020: $271,4882020Assets 2021: $427,021Liabilities 2021: $0Net Assets 2021: $427,0212021Assets 2022: $588,062Liabilities 2022: $0Net Assets 2022: $588,0622022Assets 2023: $890,043Liabilities 2023: $0Net Assets 2023: $890,0432023Assets 2024: $898,109Liabilities 2024: $0Net Assets 2024: $898,1092024Assets 2025: $417,613Liabilities 2025: $0Net Assets 2025: $417,6132025

Highlighted filing

2020

Assets$368,370
Liabilities$96,882
Net Assets$271,488
Open 2020 Filing

Operations Trend

Revenue Growth74th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2013: $39,678Expenses 2013: $38,600Net Income 2013: $1,0782013Revenue 2014: $182,226Expenses 2014: $173,592Net Income 2014: $8,6342014Revenue 2015: $197,871Expenses 2015: $193,261Net Income 2015: $4,6102015Revenue 2016: $285,742Expenses 2016: $299,635Net Income 2016: -$13,8932016Revenue 2017: $581,991Expenses 2017: $431,271Net Income 2017: $150,7202017Revenue 2018: $780,764Expenses 2018: $663,950Net Income 2018: $116,8142018Revenue 2019: $799,104Expenses 2019: $848,537Net Income 2019: -$49,4332019Revenue 2020: $959,723Expenses 2020: $906,766Net Income 2020: $52,9572020Revenue 2021: $1,230,567Expenses 2021: $1,075,034Net Income 2021: $155,5332021Revenue 2022: $1,576,605Expenses 2022: $1,415,564Net Income 2022: $161,0412022Revenue 2023: $2,044,533Expenses 2023: $1,742,552Net Income 2023: $301,9812023Revenue 2024: $2,039,138Expenses 2024: $2,031,072Net Income 2024: $8,0662024Revenue 2025: $1,552,198Expenses 2025: $2,032,694Net Income 2025: -$480,4962025

Highlighted filing

2020

Revenue$959,723
Expenses$906,766
Net Income$52,957
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Feb 4, 2021
Return Version
2019v5.1
Gross Receipts
$959,723
Mission and Program Overview

Mission

Out mission is to disciple our students to delight, discern, and display the glory of god in jesus christ through classical, christian education. It emphasizes cultivating wonder, critical thinking skills, and paideia culture, and christian worldview thinking.

Rather than man being the center of reality(public education), god is the center of reality and all subjects are integrated and point to some of the communicable attributes of god.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$208,312$314,655▲ $106,343
Land, Buildings, and Equipment, Net$681$37,312▲ $36,631
Accounts Receivable$7,738$14,603▲ $6,865
Total Assets$218,531$368,370▲ $149,839
Other Assets Total$1,800$1,800→ $0
Liabilities
Grants Payable-$96,882-
Total Liabilities$0$96,882▲ $96,882
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$218,531$271,488▲ $52,957
Total Net Assets Fund Balance$218,531$271,488▲ $52,957
Total Liabilities and Net Assets / Fund Balance$218,531$368,370▲ $149,839

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$37,312$10,382$47,694
Other Assets Org$1,800--
Compensation and Service Providers
Top Officer Pay67th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
David C KimPresidentFT$29,314$20,869$50,183

Board Members and Trustees

NameTitle
Justin K ChoiDirector
Matthew SmithDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$104,940
Program Service Revenue
$837,669
Investment Income
$7
Other Revenue
$17,107
All Other Contributions
$104,940
Change in Net Assets
$52,957
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$510,517
Other Expenses$363,954
Grants and Similar Amounts Paid$32,295
Total Fundraising Expense$16,663
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$405,745--$405,745
Fees for Services Other$121,732--$121,732
Occupancy$91,440--$91,440
Current Officers, Directors, Trustees, and Key Employees$50,183--$50,183
Payroll Taxes$38,495--$38,495
Other Expenses$34,498-$16,663$34,498
Grants to Domestic Individuals$32,295--$32,295
Other Employee Benefits$16,094--$16,094
All Other Expenses$14,597--$14,597
Depreciation Depletion$9,402--$9,402
Fees for Services Legal$6,676--$6,676
Insurance-$5,161-$5,161
Office Expenses$2,938--$2,938
Fees for Services Accounting$2,360--$2,360
Total Functional Expenses$884,942$5,161$16,663$906,766
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$17,107
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Scrip Event$17,107$17,107-$17,107
Total Events$17,107$17,107-$17,107
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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 governing body review Part VI line 11

“Governing body reviews before filing.”

Governing documents etc available to public Part VI line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Veritas Classical Academy
EIN
46-0659218
Address
1601 WEST MALVERN AVE, FULLERTON, CA 92833-2401

Signing Officer

Name
David C Kim
Title
President
Phone
9495571311
Signed
2021-02-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David C Kim
Formed
2012
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
2
Employees
23
Volunteers
10

Preparer

Firm
Kim & Park a Professional Corp
Address
6281 BEACH BLVD STE 105, BUENA PARK, CA 90621
Preparer
Hoon Kim
Phone
7142281040
Supplemental Narrative

Additional Explanations

List of other fees for services expenses Part IX line 11G

“Independent contractor and tuition collection service”

Raw XML Appendix347 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.

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IRS990/Desc0CLASSICAL CHRISTIAN EDUCATION IS DONE AND IT IS THE BIBLICAL APPROPRIATION OF A TIME-TESTED METHOD OF TEACHING KNOWN AS THE TRIVIUM, WHICH REFERS TO THE THREE STAGES (OR WAYS) OF LEARNING: GRAMMAR, LOGIC AND RHETORIC. THESE STAGES COINCIDE WITH A CHILDS COGNITIVE DEVELOPMENT AS HE MATURES. THIS MODEL DEVELOPS CRITICAL THINGKING SKILLS AND ENGAGES A STUDENTS NATURALLY CURIOSITY SO THAT HE LEARNS HOW TO LEARN, ALLOWING HIM TO BECOME A LIFELONG LEARNER. THIS METHOD HAS BEEN PRACTICED SINCE THE ANCIENT TIMES. IT HAS PRODUCED SOME OF THE GREATEST LEADERS OF HISTORY INCLUDING THE FOUNDING FATHERS OF USA. CLASSICAL EDUCATION EMPHASIZES LEARNING FROM THE CLASSICS. IT STANDS ON THE CONVICTION THAT GOD HAS PROVIDENTIALLY GUIDED HISTORY AND THAT THE RICHES OF GODS GLORY CAN BE GAINED FROM EVERY AGE CULMINATING IN JESUS CHRIST.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2INDEPENDENT CONTRACTOR AND TUITION COLLECTION SERVICE
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2List of other fees for services expenses Part IX line 11g
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0218531
IRS990/TotalAssetsEOYAmt0368370
IRS990/TotalAssetsGrp/BOYAmt0218531
IRS990/TotalAssetsGrp/EOYAmt0368370
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0104940
IRS990/TotalEmployeeCnt023
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt016663
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt05161
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0884942
IRS990/TotalFunctionalExpensesGrp/TotalAmt0906766
IRS990/TotalGrossUBIAmt017114
IRS990/TotalLiabilitiesEOYAmt096882
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt096882
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0218531
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0271488
IRS990/TotalOtherCompensationAmt020869
IRS990/TotalProgramServiceExpensesAmt0884942
IRS990/TotalProgramServiceRevenueAmt0837669
IRS990/TotalReportableCompFromOrgAmt029314
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0837669
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0959723
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt017114
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0218531
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0368370
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04411 EL CAMINO
IRS990/USAddress/CityNm0IRVINE
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd092602
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0WWW.VERITASCLASSICALACADEMY.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID C KIM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09495571311
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-02-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VERITAS CLASSICAL ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0VERI
ReturnHeader/Filer/EIN0460659218
ReturnHeader/Filer/USAddress/AddressLine1Txt01601 WEST MALVERN AVE
ReturnHeader/Filer/USAddress/CityNm0FULLERTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd0928332401
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0844444931
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KIM & PARK A PROFESSIONAL CORP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06281 BEACH BLVD STE 105
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BUENA PARK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd090621
ReturnHeader/PreparerPersonGrp/PhoneNum07142281040
ReturnHeader/PreparerPersonGrp/PreparationDt02021-02-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0HOON KIM
ReturnHeader/ReturnTs02021-02-04T21:07:34-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$368,370
Liabilities
$96,882
Net assets
$271,488
Revenue
$959,723
Expenses
$906,766
Net income
$52,957
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.42$0.00$0.42$1.55$2.03$0.48
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.90$0.00$0.90$2.04$2.03$0.01
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.89$0.00$0.89$2.04$1.74$0.30
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.59$0.00$0.59$1.58$1.42$0.16
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.43$0.00$0.43$1.23$1.08$0.16
2020Detailed filing. Detailed filing data is available for this year.$0.37$0.10$0.27$0.96$0.91$0.05
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.22$0.00$0.22$0.80$0.85$0.05
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.27$0.00$0.27$0.78$0.66$0.12
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.15$0.00$0.15$0.58$0.43$0.15
2016Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.29$0.30$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.02$0.01$0.00$0.20$0.19$0.00
2014Summary only. Only limited summary data is available for this year.$0.01$0.00$0.18$0.17$0.01
2013Summary only. Only limited summary data is available for this year.$0.00$0.00$0.04$0.04$0.00