Civic Intelligence

Veritas Classical Academy

990 • Fiscal year 2022 • EIN 46-0659218

Jul 01, 2021 to Jun 30, 2022 • Filed on Feb 27, 2023

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.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

17th percentile

0.00x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

56th percentile

10%

Higher net margin than 56% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

63rd percentile

$86,368

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 5.5% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

85th percentile

38%

Faster asset growth than 85% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

72nd percentile

28%

Faster revenue growth than 72% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets17th percentile

Assets

Up

$588,062

Up $161,041 (+38%) from 2021

Net Assets

Up

$588,062

Up $161,041 (+38%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin56th percentile

Revenue

Up

$1,576,605

Up $346,038 (+28%) from 2021

Expenses

Up

$1,415,564

Up $340,530 (+32%) from 2021

Net Income

Up

$161,041

Up $5,508 (+3.5%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth85th 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

2022

Assets$588,062
Liabilities$0
Net Assets$588,062
Open 2022 Filing

Operations Trend

Revenue Growth72nd 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

2022

Revenue$1,576,605
Expenses$1,415,564
Net Income$161,041
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Feb 27, 2023
Return Version
2021v4.2
Gross Receipts
$1,576,605
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 thinking skills, and paideia culture, and christian worldview thinking.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$348,782$519,404▲ $170,622
Accounts Receivable$54,013$52,502▼ $1,511
Land, Buildings, and Equipment, Net$22,426$14,356▼ $8,070
Total Assets$427,021$588,062▲ $161,041
Other Assets Total$1,800$1,800→ $0
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$427,021$588,062▲ $161,041
Total Net Assets Fund Balance$427,021$588,062▲ $161,041
Total Liabilities and Net Assets / Fund Balance$427,021$588,062▲ $161,041

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$14,356$34,406$48,762
Other Assets Org$1,800--
Compensation and Service Providers
Top Officer Pay63rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
David KimPresidentFT$63,796$22,572$86,368

Board Members and Trustees

NameTitle
Justin K ChoiDirector
Matthew SmithDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$94,790
Program Service Revenue
$1,481,620
Investment Income
$0
Other Revenue
$195
All Other Contributions
$94,790
Change in Net Assets
$161,041
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$949,821
Other Expenses$461,275
Grants and Similar Amounts Paid$4,468
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$788,848--$788,848
Occupancy$150,648--$150,648
Current Officers, Directors, Trustees, and Key Employees$86,368--$86,368
Fees for Services Other$80,984--$80,984
Payroll Taxes$74,605--$74,605
All Other Expenses$53,902--$53,902
Conferences and Meetings$18,108--$18,108
Fees for Services Legal$11,927--$11,927
Insurance-$9,856-$9,856
Depreciation Depletion$9,138--$9,138
Advertising$5,365--$5,365
Other Expenses$5,024--$5,024
Grants to Domestic Individuals$4,468--$4,468
Fees for Services Accounting$3,710--$3,710
Office Expenses$2,876--$2,876
Total Functional Expenses$1,405,708$9,856$0$1,415,564
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$195
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
2023-02-27
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
41
Volunteers
20

Preparer

Firm
Kim & Park a Professional Corp
Address
6281 BEACH BLVD STE 200, 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/TotalContributionsAmt094790
IRS990/TotalEmployeeCnt041
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt09856
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01405708
IRS990/TotalFunctionalExpensesGrp/TotalAmt01415564
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IRS990/TotalProgramServiceRevenueAmt01481620
IRS990/TotalReportableCompFromOrgAmt063796
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01481620
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01576605
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0195
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ReturnHeader/PreparerPersonGrp/PreparationDt02023-03-02
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ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$588,062
Liabilities
$0
Net assets
$588,062
Revenue
$1,576,605
Expenses
$1,415,564
Net income
$161,041
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
2022Detailed filing. Detailed filing data is available for this year.$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