Civic Intelligence

Veritas Community School Inc

990 • Fiscal year 2018 • EIN 46-3823049

Jul 01, 2017 to Jun 30, 2018 • Filed on Dec 17, 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

98th percentile

2.78x

Higher debt load relative to assets than 98% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

74th percentile

0.34x

Higher debt load relative to revenue than 74% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Net Margin

26th percentile

-2.4%

Higher net margin than 26% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Asset Growth

5th percentile

-24%

Faster asset growth than 5% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

71st percentile

17%

Faster revenue growth than 71% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$206,986

Down $64,245 (-24%) from 2017

Net Assets

Down

-$367,892

Down $40,616 (-12%) from 2017

Liabilities

Down

$574,878

Down $23,629 (-3.9%) from 2017

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin26th percentile

Revenue

Up

$1,686,044

Up $249,064 (+17%) from 2017

Expenses

Up

$1,726,660

Up $263,464 (+18%) from 2017

Net Income

Down

-$40,616

Down $14,400 (-55%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth5th 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

2018

Assets$206,986
Liabilities$574,878
Net Assets-$367,892
Open 2018 Filing

Operations Trend

Revenue Growth71st 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

2018

Revenue$1,686,044
Expenses$1,726,660
Net Income-$40,616
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Dec 17, 2018
Return Version
2017v2.3
Gross Receipts
$1,686,044
Mission and Program Overview

Mission

Operation of a public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$190,257$100,854▼ $89,403
Accounts Receivable$10,110$62,415▲ $52,305
Land, Buildings, and Equipment, Net$56,645$42,773▼ $13,872
Prepaid Expenses and Deferred Charges$9,440$944▼ $8,496
Total Assets$271,231$206,986▼ $64,245
Other Assets Total$4,779--
Liabilities
Unsecured Notes Loans Payable$584,622$560,627▼ $23,995
Accounts Payable and Accrued Expenses$13,885$11,648▼ $2,237
Other Liabilities-$2,603-
Total Liabilities$598,507$574,878▼ $23,629
Net Assets / Fund Balance
Unrestricted Net Assets$-327,276$-367,892▼ $40,616
Total Net Assets Fund Balance$-327,276$-367,892▼ $40,616
Total Liabilities and Net Assets / Fund Balance$271,231$206,986▼ $64,245

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$42,773$26,588$69,361
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Maria LeahyChairperson
Keri RevensBoard Member
Kristie OpiolaBoard Member
Catherine HutasuhutSecretary
Gary WebsterTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$238,855
Program Service Revenue
$1,447,189
Investment Income
$0
Other Revenue
$0
All Other Contributions
$3,721
Change in Net Assets
$-40,616

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,686,044
Total Revenue per Audited Statements
$1,686,044
Total Revenue per Form 990
$1,686,044
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,197,103
Other Expenses$529,557
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$997,419--$997,419
Other Employee Benefits$101,833--$101,833
Other Expenses$34,465$98,291-$98,291
Payroll Taxes$82,672--$82,672
Occupancy$37,178$12,393-$49,571
Interest-$22,160-$22,160
Pension Plan Contributions$15,179--$15,179
Depreciation Depletion$13,872--$13,872
Insurance-$10,985-$10,985
Fees for Services Accounting-$7,700-$7,700
Conferences and Meetings$4,920--$4,920
Advertising-$2,420-$2,420
Fees for Services Legal-$514-$514
Total Functional Expenses$1,466,993$259,667$0$1,726,660

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,726,660
Total Expenses per Audited Statements$1,726,660
Total Expenses per Form 990$1,726,660
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$2,603
Compensated Absences-
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
Maria Leahy
Title
Board Chair
Phone
9802971691
Signed
2018-12-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Katy Ridnouer
Formed
2013
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
46
Volunteers
50

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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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/TotalAssetsBOYAmt0271231
IRS990/TotalAssetsEOYAmt0206986
IRS990/TotalAssetsGrp/BOYAmt0271231
IRS990/TotalAssetsGrp/EOYAmt0206986
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0238855
IRS990/TotalEmployeeCnt046
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0259667
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01466993
IRS990/TotalFunctionalExpensesGrp/TotalAmt01726660
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0598507
IRS990/TotalLiabilitiesEOYAmt0574878
IRS990/TotalLiabilitiesGrp/BOYAmt0598507
IRS990/TotalLiabilitiesGrp/EOYAmt0574878
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-327276
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-367892
IRS990/TotalProgramServiceExpensesAmt01466993
IRS990/TotalProgramServiceRevenueAmt01447189
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01686044
IRS990/TotalVolunteersCnt050
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0271231
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0206986
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-327276
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-367892
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0584622
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0560627
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02600 Grimes Street
IRS990/USAddress/CityNm0Charlotee
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028206
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0veritascommunityschool.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Maria Leahy
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board Chair
ReturnHeader/BusinessOfficerGrp/PhoneNum09802971691
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-12-17
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/AtSubmissionCreationDeviceId05F9737B0F227446FD1AF0DE930E53A4CE2250ECB
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId05F9737B0F227446FD1AF0DE930E53A4CE2250ECB
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt071.77.12.134
ReturnHeader/FilingSecurityInformation/IPDt02018-12-17
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm018:00:13
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/PreparationDt02018-12-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Rebekah Barr
ReturnHeader/ReturnTs02018-12-17T01:00:40-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$206,986
Liabilities
$574,878
Net assets
-$367,892
Revenue
$1,686,044
Expenses
$1,726,660
Net income
-$40,616
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