Civic Intelligence

Veritas Community School Inc

EIN 46-3823049 • 501(c)3 • Charlotte, NC

Profile

Operation of a public charter school.

2600 Grimes StreetCharlotte, NC 28206

veritascommunityschool.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

75th percentile

0.40x

Higher debt load relative to assets than 75% of similar nonprofits.

NTEE B • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

53rd percentile

0.08x

Higher debt load relative to revenue than 53% of similar nonprofits.

NTEE B • $1M-$5M nonprofits • Source year 2023

Net Margin

44th percentile

2.3%

Higher net margin than 44% of similar nonprofits.

NTEE B • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

NTEE B • $1M-$5M nonprofits • Source year 2023

Asset Growth

50th percentile

4.5%

Faster asset growth than 50% of similar nonprofits.

NTEE B • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

47th percentile

6.4%

Faster revenue growth than 47% of similar nonprofits.

NTEE B • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets75th percentile

Assets

Up

$425,405

Up $18,254 (+4.5%) from 2022

Liabilities

Down

$171,392

Down $30,842 (-15%) from 2022

Net Assets

Up

$254,013

Up $49,096 (+24%) from 2022

Operations
Liabilities / Revenue53rd percentileNet Margin44th percentile

Revenue

Up

$2,141,689

Up $128,056 (+6.4%) from 2022

Expenses

Up

$2,092,593

Up $333,424 (+19%) from 2022

Net Income

Down

$49,096

Down $205,368 (-81%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth50th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.0M$500K$0-$500KAssets 2014: $3,875Liabilities 2014: $902014Assets 2015: $98,708Liabilities 2015: $1,9502015Assets 2016: $307,104Liabilities 2016: $650,818Net Assets 2016: -$343,7142016Assets 2017: $271,231Liabilities 2017: $598,507Net Assets 2017: -$327,2762017Assets 2018: $206,986Liabilities 2018: $574,878Net Assets 2018: -$367,8922018Assets 2019: $176,104Liabilities 2019: $464,550Net Assets 2019: -$288,4462019Assets 2020: $152,686Liabilities 2020: $432,267Net Assets 2020: -$279,5812020Assets 2021: $274,606Liabilities 2021: $324,153Net Assets 2021: -$49,5472021Assets 2022: $407,151Liabilities 2022: $202,234Net Assets 2022: $204,9172022Assets 2023: $425,405Liabilities 2023: $171,392Net Assets 2023: $254,0132023

Highlighted filing

2023

Assets$425,405
Liabilities$171,392
Net Assets$254,013
Open 2023 Filing

Operations Trend

Revenue Growth47th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2014: $10,000Expenses 2014: $6,215Net Income 2014: $3,7852014Revenue 2015: $117,882Expenses 2015: $24,909Net Income 2015: $92,9732015Revenue 2016: $1,080,904Expenses 2016: $1,521,376Net Income 2016: -$440,4722016Revenue 2017: $1,436,980Expenses 2017: $1,463,196Net Income 2017: -$26,2162017Revenue 2018: $1,686,044Expenses 2018: $1,726,660Net Income 2018: -$40,6162018Revenue 2019: $1,575,312Expenses 2019: $1,495,866Net Income 2019: $79,4462019Revenue 2020: $1,337,883Expenses 2020: $1,329,018Net Income 2020: $8,8652020Revenue 2021: $1,631,986Expenses 2021: $1,401,952Net Income 2021: $230,0342021Revenue 2022: $2,013,633Expenses 2022: $1,759,169Net Income 2022: $254,4642022Revenue 2023: $2,141,689Expenses 2023: $2,092,593Net Income 2023: $49,0962023

Highlighted filing

2023

Revenue$2,141,689
Expenses$2,092,593
Net Income$49,096
Open 2023 Filing

Filings

Most recent year

2023 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$425,405
Liabilities
$171,392
Net assets
$254,013
Revenue
$2,141,689
Expenses
$2,092,593
Net income
$49,096
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.43$0.17$0.25$2.14$2.09$0.05
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.41$0.20$0.20$2.01$1.76$0.25
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.27$0.32$0.05$1.63$1.40$0.23
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.15$0.43$0.28$1.34$1.33$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.18$0.46$0.29$1.58$1.50$0.08
2018Detailed filing. Detailed filing data is available for this year.$0.21$0.57$0.37$1.69$1.73$0.04
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.27$0.60$0.33$1.44$1.46$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.31$0.65$0.34$1.08$1.52$0.44
2015Summary only. Only limited summary data is available for this year.$0.10$0.00$0.12$0.02$0.09
2014Summary only. Only limited summary data is available for this year.$0.00$0.00$0.01$0.01$0.00
Latest Detailed Filing

The latest 2023 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Jan 23, 2023
Return Version
2021v4.2
Gross Receipts
$2,013,633
Mission and Program Overview

Mission

Operation of a public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$261,299$357,433▲ $96,134
Land, Buildings, and Equipment, Net$3,899$42,998▲ $39,099
Prepaid Expenses and Deferred Charges$3,386$6,312▲ $2,926
Accounts Receivable$6,022$408▼ $5,614
Total Assets$274,606$407,151▲ $132,545
Liabilities
Unsecured Notes Loans Payable$253,737$142,919▼ $110,818
Accounts Payable and Accrued Expenses$55,630$54,172▼ $1,458
Other Liabilities$14,786$5,143▼ $9,643
Total Liabilities$324,153$202,234▼ $121,919
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-49,547$204,917▲ $254,464
Total Net Assets Fund Balance$-49,547$204,917▲ $254,464
Total Liabilities and Net Assets / Fund Balance$274,606$407,151▲ $132,545

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$42,998$75,263$118,261
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Erika BowenChair
Ed RitterVice Chair
Bernard Jones JrBoard Member
Dottie BryanBoard Member
Jaime DaniellBoard Member
Mimi SiadekBoard Member
Lindsay BetzelSecretary
Gretechen BottrillTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$396,472
Program Service Revenue
$1,617,161
Investment Income
$0
Other Revenue
$0
All Other Contributions
$61,669
Change in Net Assets
$254,464

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,013,633
Total Revenue per Audited Statements
$2,013,633
Total Revenue per Form 990
$2,013,633
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,152,044
Other Expenses$607,125
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$955,851--$955,851
Other Expenses$162,376$22,665-$185,041
Other Employee Benefits$116,102--$116,102
Payroll Taxes$75,598--$75,598
Occupancy$44,590$11,147-$55,737
Advertising-$19,508-$19,508
Interest-$11,607-$11,607
Insurance-$9,703-$9,703
Fees for Services Accounting-$7,758-$7,758
Depreciation Depletion$6,401--$6,401
Pension Plan Contributions$4,493--$4,493
Total Functional Expenses$1,505,712$253,457$0$1,759,169

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,759,169
Total Expenses per Audited Statements$1,759,169
Total Expenses per Form 990$1,759,169
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$5,143
Compensated Absences-
Unearned Revenues-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Acadia NorthStar, LLC - accounting and business services”

Form 990, Part VI, Section B, Line 11B

“The board treasurer reviews 990 and reports to the board of directors prior to filing.”

Form 990, Part VI, Section B, Line 12C

“Each board member is required to execute a conflict of interest statement and confidentiality agreement annually. Any potential conflict of interest is reviewed and resolved by the board of directors.”

Form 990, Part VI, Section B, Line 15A

“Compensation for top officials is approved by the board of directors and is based on review of area comparability data and the experience and expertise of the individual.”

Form 990, Part VI, Section B, Line 15B

“Compensation for key employees is approved by the board of directors and is based on review of area comparability data and the experience and expertise of the individual.”

Form 990, Part VI, Section C, Line 19

“Governing documents, school policies and financial statements are available for viewing by the public at the Schools office upon request.”

Filing and Contact Details

Filer

Filer Name
VERITAS Community School Inc
EIN
46-3823049
Phone
9803331939
Address
2600 Grimes Street, Charlotte, NC 28206

Signing Officer

Name
Erika Bowen
Title
Board Chair
Phone
9803331939
Signed
2023-01-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Erika Bowen
Formed
2013
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
28

Preparer

Firm
Rebekah Barr CPA PC
Address
1520 Nash Street N, Wilson, NC 27893
Preparer
Rebekah Barr
Phone
2522946920
Raw XML Appendix394 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/QuidProQuoContriDisclInd0false
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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt075263
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05143
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Compensated Absences
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Unearned Revenues
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt042998
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IRS990ScheduleD/TotalLiabilityAmt05143
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IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
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IRS990ScheduleE/DiscriminateRaceSchsInd0false
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IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0North Carolina charter schools are funded by the State and Local Governments. The School also receives various federal grants.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc06a
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Acadia NorthStar, LLC - accounting and business services
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The board treasurer reviews 990 and reports to the board of directors prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Each board member is required to execute a conflict of interest statement and confidentiality agreement annually. Any potential conflict of interest is reviewed and resolved by the board of directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Compensation for top officials is approved by the board of directors and is based on review of area comparability data and the experience and expertise of the individual.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Compensation for key employees is approved by the board of directors and is based on review of area comparability data and the experience and expertise of the individual.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Governing documents, school policies and financial statements are available for viewing by the public at the Schools office upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, Line 19
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01505712
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0204917
IRS990/TotalProgramServiceExpensesAmt01505712
IRS990/TotalProgramServiceRevenueAmt01617161
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02013633
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IRS990/TravelGrp/TotalAmt00
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0253737
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0142919
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02600 Grimes Street
IRS990/USAddress/CityNm0Charlotee
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028206
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0veritascommunityschool.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-03-07 01:45:13Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Erika Bowen
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board Chair
ReturnHeader/BusinessOfficerGrp/PhoneNum09803331939
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-01-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VERITAS Community School Inc
ReturnHeader/Filer/BusinessNameControlTxt0VERI
ReturnHeader/Filer/EIN0463823049
ReturnHeader/Filer/PhoneNum09803331939
ReturnHeader/Filer/USAddress/AddressLine1Txt02600 Grimes Street
ReturnHeader/Filer/USAddress/CityNm0Charlotte
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028206
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0271832948
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Rebekah Barr CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01520 Nash Street N
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Wilson
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027893
ReturnHeader/PreparerPersonGrp/PhoneNum02522946920
ReturnHeader/PreparerPersonGrp/PreparationDt02023-01-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Rebekah Barr
ReturnHeader/ReturnTs02023-01-23T10:33:05-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Erika
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Bowen
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

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