Civic Intelligence

Veritas Community School Inc

990 • Fiscal year 2017 • EIN 46-3823049

Jul 01, 2016 to Jun 30, 2017 • Filed on Jan 16, 2018

Organization Profileveritascommunityschool.com
2600 Grimes StreetCharlotte, NC 28206

(980) 333-1939

Siviq Scores

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

Liabilities / Assets

99th percentile

2.21x

Higher debt load relative to assets than 99% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

78th percentile

0.42x

Higher debt load relative to revenue than 78% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Net Margin

27th percentile

-1.8%

Higher net margin than 27% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

33rd percentile

$0

Higher top officer pay than 33% of similar nonprofits.

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

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Asset Growth

11th percentile

-12%

Faster asset growth than 11% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

81st percentile

33%

Faster revenue growth than 81% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$271,231

Down $35,873 (-12%) from 2016

Net Assets

Up

-$327,276

Up $16,438 (+4.8%) from 2016

Liabilities

Down

$598,507

Down $52,311 (-8.0%) from 2016

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin27th percentile

Revenue

Up

$1,436,980

Up $356,076 (+33%) from 2016

Expenses

Down

$1,463,196

Down $58,180 (-3.8%) from 2016

Net Income

Up

-$26,216

Up $414,256 (+94%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth11th percentile

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

$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

2017

Assets$271,231
Liabilities$598,507
Net Assets-$327,276
Open 2017 Filing

Operations Trend

Revenue Growth81st percentile

Revenue, expenses, and net income across loaded years, with this 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

2017

Revenue$1,436,980
Expenses$1,463,196
Net Income-$26,216
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Jan 16, 2018
Return Version
2016v3.0
Gross Receipts
$1,436,980
Mission and Program Overview

Mission

Operation of a public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$263,340$190,257▼ $73,083
Land, Buildings, and Equipment, Net-$56,645-
Accounts Receivable$33,175$10,110▼ $23,065
Prepaid Expenses and Deferred Charges$810$9,440▲ $8,630
Total Assets$307,104$271,231▼ $35,873
Other Assets Total$9,779$4,779▼ $5,000
Liabilities
Unsecured Notes Loans Payable$644,577$584,622▼ $59,955
Accounts Payable and Accrued Expenses$6,241$13,885▲ $7,644
Total Liabilities$650,818$598,507▼ $52,311
Net Assets / Fund Balance
Unrestricted Net Assets$-343,714$-327,276▲ $16,438
Total Net Assets Fund Balance$-343,714$-327,276▲ $16,438
Total Liabilities and Net Assets / Fund Balance$307,104$271,231▼ $35,873

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$56,645$12,716$69,361
Compensation and Service Providers
Top Officer Pay33rd percentile

Board Members and Trustees

NameTitle
Ramesh NayarBoard Chair
Laura ThomasBoard Vice Chair
Faye BishopBoard Member
Maria LeahyBoard Member
Siobhan DesmondBoard Member
Vanecie DelvaBoard Member
Tracy MottSecretary
Jason ColeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$245,884
Program Service Revenue
$1,191,096
Investment Income
$0
Other Revenue
$0
All Other Contributions
$26,242
Change in Net Assets
$-26,216

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,436,980
Total Revenue per Audited Statements
$1,436,980
Total Revenue per Form 990
$1,436,980
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$855,488
Other Expenses$607,708
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$709,645--$709,645
Other Employee Benefits$74,588--$74,588
Payroll Taxes$58,220--$58,220
Occupancy$42,969$4,774-$47,743
Other Expenses$46,221$53,536-$46,221
Interest-$30,111-$30,111
Pension Plan Contributions$13,035--$13,035
Depreciation Depletion$12,716--$12,716
Conferences and Meetings$10,971--$10,971
Fees for Services Accounting-$7,700-$7,700
Insurance-$7,677-$7,677
Advertising-$4,465-$4,465
Fees for Services Legal-$3,285-$3,285
Total Functional Expenses$1,212,034$251,162$0$1,463,196

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,463,196
Total Expenses per Audited Statements$1,463,196
Total Expenses per Form 990$1,463,196
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-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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
Ramesh Nayar
Title
Board Chairman
Signed
2018-01-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Katy Ridnouer
Formed
2013
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
24
Volunteers
45

Preparer

Firm
Rebekah Barr CPA PC
Address
5422 Boswellville Road, Wilson, NC 27893
Preparer
Rebekah Barr
Phone
2522306294
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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/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0North Carolina charter schools are funded by the State and Local Governments. The School also receives various federal grants.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc06a
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0307104
IRS990/TotalAssetsEOYAmt0271231
IRS990/TotalAssetsGrp/BOYAmt0307104
IRS990/TotalAssetsGrp/EOYAmt0271231
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0245884
IRS990/TotalEmployeeCnt024
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0251162
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01212034
IRS990/TotalFunctionalExpensesGrp/TotalAmt01463196
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0650818
IRS990/TotalLiabilitiesEOYAmt0598507
IRS990/TotalLiabilitiesGrp/BOYAmt0650818
IRS990/TotalLiabilitiesGrp/EOYAmt0598507
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-343714
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-327276
IRS990/TotalProgramServiceExpensesAmt01212034
IRS990/TotalProgramServiceRevenueAmt01191096
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01436980
IRS990/TotalVolunteersCnt045
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0307104
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0271231
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-343714
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-327276
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0644577
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0584622
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/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Ramesh Nayar
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board Chairman
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-01-16
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/FilingSecurityInformation/AtSubmissionCreationDeviceId077C0927649F39980818BF74145FC55320A069C6E
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId077C0927649F39980818BF74145FC55320A069C6E
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt075.163.55.236
ReturnHeader/FilingSecurityInformation/IPDt02018-01-16
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm019:17:14
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Rebekah Barr CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05422 Boswellville Road
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Wilson
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027893
ReturnHeader/PreparerPersonGrp/PhoneNum02522306294
ReturnHeader/PreparerPersonGrp/PreparationDt02018-01-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Rebekah Barr
ReturnHeader/ReturnTs02018-01-16T02:19:36-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$271,231
Liabilities
$598,507
Net assets
-$327,276
Revenue
$1,436,980
Expenses
$1,463,196
Net income
-$26,216
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
2017Detailed filing. Detailed filing data is available for this year.$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