Civic Intelligence

Veritas Classical Academy

990 • Fiscal year 2023 • EIN 46-0659218

Jul 01, 2022 to Jun 30, 2023 • Filed on Mar 04, 2024

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.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

17th percentile

0.00x

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

68th percentile

15%

Higher net margin than 68% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

62nd percentile

$89,391

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 4.4% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

89th percentile

51%

Faster asset growth than 89% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

74th percentile

30%

Faster revenue growth than 74% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets17th percentile

Assets

Up

$890,043

Up $301,981 (+51%) from 2022

Net Assets

Up

$890,043

Up $301,981 (+51%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin68th percentile

Revenue

Up

$2,044,533

Up $467,928 (+30%) from 2022

Expenses

Up

$1,742,552

Up $326,988 (+23%) from 2022

Net Income

Up

$301,981

Up $140,940 (+88%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth89th 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

2023

Assets$890,043
Liabilities$0
Net Assets$890,043
Open 2023 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

2023

Revenue$2,044,533
Expenses$1,742,552
Net Income$301,981
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Mar 4, 2024
Return Version
2022v5.0
Gross Receipts
$2,044,533
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$519,404$856,760▲ $337,356
Accounts Receivable$52,502$22,815▼ $29,687
Land, Buildings, and Equipment, Net$14,356$8,668▼ $5,688
Total Assets$588,062$890,043▲ $301,981
Other Assets Total$1,800$1,800→ $0
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$588,062$890,043▲ $301,981
Total Net Assets Fund Balance$588,062$890,043▲ $301,981
Total Liabilities and Net Assets / Fund Balance$588,062$890,043▲ $301,981

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$8,668$40,094$48,762
Other Assets Org$1,800--
Compensation and Service Providers
Top Officer Pay62nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
David KimPresidentFT$65,510$23,881$89,391

Board Members and Trustees

NameTitle
Justin ChoiDirector
Matthew SmithDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$115,610
Program Service Revenue
$1,925,884
Investment Income
$0
Other Revenue
$3,039
All Other Contributions
$115,610
Change in Net Assets
$301,981
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,093,475
Other Expenses$647,637
Grants and Similar Amounts Paid$1,440
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$872,127$50,035-$922,162
Fees for Services Other$163,136$8,736-$171,872
Occupancy$171,749--$171,749
All Other Expenses$101,645--$101,645
Current Officers, Directors, Trustees, and Key Employees-$89,391-$89,391
Payroll Taxes$70,452$11,470-$81,922
Insurance-$17,779-$17,779
Conferences and Meetings$17,570--$17,570
Fees for Services Legal-$12,209-$12,209
Office Expenses-$6,200-$6,200
Depreciation Depletion$5,688--$5,688
Other Expenses$38,918$4,018-$4,018
Fees for Services Accounting-$2,300-$2,300
Advertising$1,624--$1,624
Grants to Domestic Individuals$1,440--$1,440
Total Functional Expenses$1,540,414$202,138$0$1,742,552
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$3,039
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
2024-03-04
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
55
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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ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$890,043
Liabilities
$0
Net assets
$890,043
Revenue
$2,044,533
Expenses
$1,742,552
Net income
$301,981
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
2023Detailed filing. Detailed filing data is available for this year.$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