Civic Intelligence

Veritas Preparatory School Inc.

990 • Fiscal year 2019 • EIN 46-1289382

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 07, 2018

Organization ProfileWWW.VERITASGREENVILLE.COM
PO Box 9621Greenville, SC 29604-9307

(864) 320-0095

Siviq Scores

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

Liabilities / Assets

91st percentile

0.77x

Higher debt load relative to assets than 91% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

81st percentile

0.29x

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

35th percentile

-1.5%

Higher net margin than 35% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

84th percentile

$87,670

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 12.3% of source-year revenue.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

83rd percentile

32%

Faster asset growth than 83% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

80th percentile

32%

Faster revenue growth than 80% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$272,265

Up $65,340 (+32%) from 2018

Net Assets

Down

$63,193

Down $10,798 (-15%) from 2018

Liabilities

Up

$209,072

Up $76,138 (+57%) from 2018

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin35th percentile

Revenue

Up

$712,492

Up $173,076 (+32%) from 2018

Expenses

Up

$723,290

Up $168,980 (+30%) from 2018

Net Income

Up

-$10,798

Up $4,096 (+28%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth83rd percentile

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

$1.5M$1.0M$500K$0Assets 2013: $66,910Liabilities 2013: $2,4992013Assets 2014: $83,017Liabilities 2014: $3,5872014Assets 2015: $124,722Liabilities 2015: $273Net Assets 2015: $124,4492015Assets 2016: $106,275Liabilities 2016: $16,464Net Assets 2016: $89,8112016Assets 2017: $141,520Liabilities 2017: $52,635Net Assets 2017: $88,8852017Assets 2018: $206,925Liabilities 2018: $132,934Net Assets 2018: $73,9912018Assets 2019: $272,265Liabilities 2019: $209,072Net Assets 2019: $63,1932019Assets 2020: $353,383Liabilities 2020: $258,723Net Assets 2020: $94,6602020Assets 2021: $600,544Liabilities 2021: $314,366Net Assets 2021: $286,1782021Assets 2022: $383,752Liabilities 2022: $166,776Net Assets 2022: $216,9762022Assets 2023: $524,852Liabilities 2023: $200,496Net Assets 2023: $324,3562023Assets 2024: $1,052,408Liabilities 2024: $261,914Net Assets 2024: $790,4942024Assets 2025: $1,412,931Liabilities 2025: $320,701Net Assets 2025: $1,092,2302025

Highlighted filing

2019

Assets$272,265
Liabilities$209,072
Net Assets$63,193
Open 2019 Filing

Operations Trend

Revenue Growth80th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2013: $161,236Expenses 2013: $101,825Net Income 2013: $59,4112013Revenue 2014: $194,553Expenses 2014: $179,534Net Income 2014: $15,0192014Revenue 2015: $387,268Expenses 2015: $342,249Net Income 2015: $45,0192015Revenue 2016: $168,968Expenses 2016: $203,606Net Income 2016: -$34,6382016Revenue 2017: $522,249Expenses 2017: $523,175Net Income 2017: -$9262017Revenue 2018: $539,416Expenses 2018: $554,310Net Income 2018: -$14,8942018Revenue 2019: $712,492Expenses 2019: $723,290Net Income 2019: -$10,7982019Revenue 2020: $841,292Expenses 2020: $809,825Net Income 2020: $31,4672020Revenue 2021: $1,208,572Expenses 2021: $1,017,054Net Income 2021: $191,5182021Revenue 2022: $1,352,342Expenses 2022: $1,421,544Net Income 2022: -$69,2022022Revenue 2023: $1,944,772Expenses 2023: $1,837,392Net Income 2023: $107,3802023Revenue 2024: $2,518,835Expenses 2024: $2,052,698Net Income 2024: $466,1372024Revenue 2025: $3,016,189Expenses 2025: $2,714,453Net Income 2025: $301,7362025

Highlighted filing

2019

Revenue$712,492
Expenses$723,290
Net Income-$10,798
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 7, 2018
Return Version
2018v3.1
Gross Receipts
$712,492
Mission and Program Overview

Mission

To provide a quality education for children while enabling parents to be actively engaged in the education process.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$206,267$272,265▲ $65,998
Land, Buildings, and Equipment, Net$658--
Total Assets$206,925$272,265▲ $65,340
Liabilities
Deferred Revenue$132,934$209,072▲ $76,138
Total Liabilities$132,934$209,072▲ $76,138
Net Assets / Fund Balance
Unrestricted Net Assets$73,991$63,193▼ $10,798
Total Net Assets Fund Balance$73,991$63,193▼ $10,798
Total Liabilities and Net Assets / Fund Balance$206,925$272,265▲ $65,340

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$3,592$3,592
Compensation and Service Providers
Top Officer Pay84th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jon MccordHeadmasterFT$87,670$87,670

Board Members and Trustees

NameTitle
Ben WallaceChairman
Ashley FrischDirector
Jenna StoreyDirector
Matt MillerDirector
Matt WiremanDirector
Will BragdonDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$19,110
Program Service Revenue
$690,964
Investment Income
$2,418
Other Revenue
$0
All Other Contributions
$19,110
Change in Net Assets
$-10,798
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$557,202
Other Expenses$166,088
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$408,438$21,497-$429,935
Current Officers, Directors, Trustees, and Key Employees$43,835$43,835-$87,670
Occupancy$67,084--$67,084
Payroll Taxes$34,599$4,998-$39,597
Conferences and Meetings$19,638$2,182-$21,820
Insurance$11,814--$11,814
Information Technology$6,668--$6,668
Fees for Services Other$4,420--$4,420
All Other Expenses$3,767--$3,767
Office Expenses$3,261$363-$3,624
Other Expenses$5,570$2,905-$2,905
Fees for Services Accounting-$1,955-$1,955
Advertising-$859-$859
Depreciation Depletion$658--$658
Total Functional Expenses$644,696$78,594$0$723,290
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Review is conducted by individual responsible for signing the return.”

Form 990, Page 6, Part VI, Line 12C

“Any conflict of interest shall be disclosed to the board of directors. If the board decides that the interested party has in fact failed to disclose a possible conflict of interest, the board shall take such disciplinary and corrective action as the board shall determine. The minutes of the meetings shall reflect that the conflict disclosure was made to the board.”

Form 990, Page 6, Part VI, Line 15A

“The top official job is reviewed by the board annually and any increase in compensation is approved by the board of directors.”

Form 990, Page 6, Part VI, Line 15B

“Other officers- and key employees' jobs are reviewed by the board and any increases in compensation are approved by the board of directors.”

Form 990, Page 6, Part VI, Line 19

“Documents are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Veritas Preparatory School Inc
EIN
46-1289382
Phone
8643200095
Address
PO BOX 9621, GREENVILLE, SC 29604-9307

Signing Officer

Name
Ben Wallace
Title
Chairman
Phone
8643200095
Signed
2018-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ben Wallace
Formed
2012
Legal Domicile
Sc
Voting Board Members
6
Independent Board Members
6
Employees
30

Preparer

Firm
SAUNDERS O'DELL PA
Address
210 E TRADE ST, SIMPSONVILLE, SC 29681-2632
Preparer
BENJAMIN O'DELL
Phone
8649633467
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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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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0ON THE ORGANIZATION'S WEBSITE IT STATES, "VERITAS PREPARATORY SCHOOL DOES NOT DISCRIMINATE BASED ON RACE, GENDER, COLOR, NATIONAL AND ETHNIC ORIGIN WITH REGARD TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS, ACTIVITIES, EDUCATIONAL POLICIES, ADMISSIONS POLICIES, SCHOLARSHIP AND LOAN PROGRAMS, OR OTHER SCHOOL ADMINISTERED PROGRAMS."
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REVIEW IS CONDUCTED BY INDIVIDUAL RESPONSIBLE FOR SIGNING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANY CONFLICT OF INTEREST SHALL BE DISCLOSED TO THE BOARD OF DIRECTORS. IF THE BOARD DECIDES THAT THE INTERESTED PARTY HAS IN FACT FAILED TO DISCLOSE A POSSIBLE CONFLICT OF INTEREST, THE BOARD SHALL TAKE SUCH DISCIPLINARY AND CORRECTIVE ACTION AS THE BOARD SHALL DETERMINE. THE MINUTES OF THE MEETINGS SHALL REFLECT THAT THE CONFLICT DISCLOSURE WAS MADE TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE TOP OFFICIAL JOB IS REVIEWED BY THE BOARD ANNUALLY AND ANY INCREASE IN COMPENSATION IS APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OTHER OFFICERS- AND KEY EMPLOYEES' JOBS ARE REVIEWED BY THE BOARD AND ANY INCREASES IN COMPENSATION ARE APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0206925
IRS990/TotalAssetsEOYAmt0272265
IRS990/TotalAssetsGrp/BOYAmt0206925
IRS990/TotalAssetsGrp/EOYAmt0272265
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt019110
IRS990/TotalEmployeeCnt030
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt078594
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0644696
IRS990/TotalFunctionalExpensesGrp/TotalAmt0723290
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0132934
IRS990/TotalLiabilitiesEOYAmt0209072
IRS990/TotalLiabilitiesGrp/BOYAmt0132934
IRS990/TotalLiabilitiesGrp/EOYAmt0209072
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt073991
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt063193
IRS990/TotalProgramServiceExpensesAmt0644696
IRS990/TotalProgramServiceRevenueAmt0690964
IRS990/TotalReportableCompFromOrgAmt087670
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0693382
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0712492
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0206925
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0272265
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt073991
IRS990/UnrestrictedNetAssetsGrp/EOYAmt063193
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 9621
IRS990/USAddress/CityNm0GREENVILLE
IRS990/USAddress/StateAbbreviationCd0SC
IRS990/USAddress/ZIPCd0296049307
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.VERITASGREENVILLE.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-04-17 16:48:07Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BEN WALLACE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum08643200095
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VERITAS PREPARATORY SCHOOL INC
ReturnHeader/Filer/BusinessNameControlTxt0VERI
ReturnHeader/Filer/EIN0461289382
ReturnHeader/Filer/PhoneNum08643200095
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 9621
ReturnHeader/Filer/USAddress/CityNm0GREENVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SC
ReturnHeader/Filer/USAddress/ZIPCd0296049307
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId05DB8650753D78BBB29912FE5AC734ACA3C825729
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0B7D3EF0EE9C0D201BC63EEA513D01810B006407E
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt097.82.252.99
ReturnHeader/FilingSecurityInformation/IPDt02019-11-08
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm015:20:44
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0570812016
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SAUNDERS O'DELL PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0210 E TRADE ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SIMPSONVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0296812632
ReturnHeader/PreparerPersonGrp/PhoneNum08649633467
ReturnHeader/PreparerPersonGrp/PreparationDt02019-11-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BENJAMIN O'DELL
ReturnHeader/ReturnTs02019-11-08T15:20:44-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$272,265
Liabilities
$209,072
Net assets
$63,193
Revenue
$712,492
Expenses
$723,290
Net income
-$10,798
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.41$0.32$1.09$3.02$2.71$0.30
2024Detailed filing. Detailed filing data is available for this year.$1.05$0.26$0.79$2.52$2.05$0.47
2023Detailed filing. Detailed filing data is available for this year.$0.52$0.20$0.32$1.94$1.84$0.11
2022Detailed filing. Detailed filing data is available for this year.$0.38$0.17$0.22$1.35$1.42$0.07
2021Detailed filing. Detailed filing data is available for this year.$0.60$0.31$0.29$1.21$1.02$0.19
2020Detailed filing. Detailed filing data is available for this year.$0.35$0.26$0.09$0.84$0.81$0.03
2019Detailed filing. Detailed filing data is available for this year.$0.27$0.21$0.06$0.71$0.72$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.21$0.13$0.07$0.54$0.55$0.01
2017Summary only. Only limited summary data is available for this year.$0.14$0.05$0.09$0.52$0.52$0.00
2016Summary only. Only limited summary data is available for this year.$0.11$0.02$0.09$0.17$0.20$0.03
2015Summary only. Only limited summary data is available for this year.$0.12$0.00$0.12$0.39$0.34$0.05
2014Summary only. Only limited summary data is available for this year.$0.08$0.00$0.19$0.18$0.02
2013Summary only. Only limited summary data is available for this year.$0.07$0.00$0.16$0.10$0.06