Civic Intelligence

Veritas Classical Academy

990 • Fiscal year 2021 • EIN 46-0659218

Jul 01, 2020 to Jun 30, 2021 • Filed on Feb 14, 2022

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

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

50th percentile

13%

Higher net margin than 50% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

61st percentile

$81,932

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 6.7% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

62nd percentile

16%

Faster asset growth than 62% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

65th percentile

28%

Faster revenue growth than 65% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets17th percentile

Assets

Up

$427,021

Up $58,651 (+16%) from 2020

Net Assets

Up

$427,021

Up $155,533 (+57%) from 2020

Liabilities

Down

$0

Down $96,882 (-100%) from 2020

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin50th percentile

Revenue

Up

$1,230,567

Up $270,844 (+28%) from 2020

Expenses

Up

$1,075,034

Up $168,268 (+19%) from 2020

Net Income

Up

$155,533

Up $102,576 (+194%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth62nd 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

2021

Assets$427,021
Liabilities$0
Net Assets$427,021
Open 2021 Filing

Operations Trend

Revenue Growth65th 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

2021

Revenue$1,230,567
Expenses$1,075,034
Net Income$155,533
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Feb 14, 2022
Return Version
2020v4.1
Gross Receipts
$1,230,567
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.

Our 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 thingking skills, and paideia culture, and christian worldview thinking.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$314,655$348,782▲ $34,127
Accounts Receivable$14,603$54,013▲ $39,410
Land, Buildings, and Equipment, Net$37,312$22,426▼ $14,886
Total Assets$368,370$427,021▲ $58,651
Other Assets Total$1,800$1,800→ $0
Liabilities
Grants Payable$96,882--
Total Liabilities$96,882$0▼ $96,882
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$271,488$427,021▲ $155,533
Total Net Assets Fund Balance$271,488$427,021▲ $155,533
Total Liabilities and Net Assets / Fund Balance$368,370$427,021▲ $58,651

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$22,426$25,268$47,694
Other Assets Org$1,800--
Compensation and Service Providers
Top Officer Pay61st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
David KimPresidentFT$60,453$21,479$81,932

Board Members and Trustees

NameTitle
Justin K ChoiDirector
Matthew SmithDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$148,147
Program Service Revenue
$1,078,027
Investment Income
$0
Other Revenue
$4,393
All Other Contributions
$96,882
Change in Net Assets
$155,533
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$707,843
Other Expenses$365,338
Total Fundraising Expense$4,254
Grants and Similar Amounts Paid$1,853
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$577,067--$577,067
Occupancy$140,417--$140,417
Fees for Services Other$85,556--$85,556
Current Officers, Directors, Trustees, and Key Employees$81,932--$81,932
Payroll Taxes$48,844--$48,844
Depreciation Depletion$14,886--$14,886
Other Expenses$10,841-$4,254$10,841
Insurance-$10,348-$10,348
All Other Expenses$8,894--$8,894
Fees for Services Legal$7,515--$7,515
Conferences and Meetings$7,180--$7,180
Office Expenses$2,880--$2,880
Advertising$2,315--$2,315
Fees for Services Accounting$2,150--$2,150
Grants to Domestic Individuals$1,753--$1,753
Grants to Domestic Orgs$100--$100
Total Functional Expenses$1,060,432$10,348$4,254$1,075,034
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$4,393
Professional Fundraising Fees$0
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 Kim
Title
President
Phone
9495571311
Signed
2022-02-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Kim
Formed
2012
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
2
Employees
22
Volunteers
15

Preparer

Firm
Kim & Park a Professional Corp
Address
6281 BEACH BLVD STE 105, BUENA PARK, CA 90621
Preparer
Hoon Kim
Phone
7142281040
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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/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt010348
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ReturnHeader/BuildTS02022-03-31 18:45:55Z
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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/PreparationDt02022-02-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0HOON KIM
ReturnHeader/ReturnTs02022-02-15T14:05:54-05:00
ReturnHeader/ReturnTypeCd0990
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ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$427,021
Liabilities
$0
Net assets
$427,021
Revenue
$1,230,567
Expenses
$1,075,034
Net income
$155,533
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
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$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