Civic Intelligence

Veritas Christian Academy Inc

EIN 56-2089482 • 501(c)3 • Fletcher, NC

View Organization Page

Profile

Intelligent Faith: Equipping minds and engaging hearts for Gods Kingdom purposes. Please see our website for our philosophy and additional information.

17 Cane Creek RoadFletcher, NC 28732

veritasnc.org

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.26x

Higher debt load relative to assets than 52% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Source year 2025

Liabilities / Revenue

59th percentile

0.29x

Higher debt load relative to revenue than 59% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Source year 2025

Net Margin

52nd percentile

4.5%

Higher net margin than 52% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Source year 2025

Top Officer Pay

53rd percentile

$141,998

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 3.1% of source-year revenue.

NTEE B • $5M-$10M nonprofits • Source year 2025

Asset Growth

34th percentile

-0.8%

Faster asset growth than 34% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Annualized from 2024 to 2025

Revenue Growth

55th percentile

9.2%

Faster revenue growth than 55% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Down

$5,146,504

Down $41,374 (-0.8%) from 2024

Liabilities

Down

$1,350,889

Down $247,998 (-16%) from 2024

Net Assets

Up

$3,795,615

Up $206,624 (+5.8%) from 2024

Operations
Liabilities / Revenue59th percentileNet Margin52nd percentile

Revenue

Up

$4,640,884

Up $390,772 (+9.2%) from 2024

Expenses

Up

$4,434,260

Up $255,608 (+6.1%) from 2024

Net Income

Up

$206,624

Up $135,164 (+189%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth34th percentile

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

$6.0M$4.0M$2.0M$0Assets 2010: $2,942,551Liabilities 2010: $1,448,997Net Assets 2010: $1,493,5542010Assets 2011: $3,063,721Liabilities 2011: $1,444,876Net Assets 2011: $1,618,8452011Assets 2012: $3,215,789Liabilities 2012: $1,544,682Net Assets 2012: $1,671,1072012Assets 2013: $3,205,577Liabilities 2013: $1,553,328Net Assets 2013: $1,652,2492013Assets 2014: $3,274,581Liabilities 2014: $1,360,291Net Assets 2014: $1,914,2902014Assets 2015: $2,939,319Liabilities 2015: $1,224,915Net Assets 2015: $1,714,4042015Assets 2016: $3,104,992Liabilities 2016: $1,315,166Net Assets 2016: $1,789,8262016Assets 2017: $2,940,710Liabilities 2017: $1,269,467Net Assets 2017: $1,671,2432017Assets 2018: $2,990,650Liabilities 2018: $1,142,448Net Assets 2018: $1,848,2022018Assets 2019: $3,111,634Liabilities 2019: $1,096,143Net Assets 2019: $2,015,4912019Assets 2020: $3,984,490Liabilities 2020: $1,689,842Net Assets 2020: $2,294,6482020Assets 2021: $5,505,741Liabilities 2021: $2,510,779Net Assets 2021: $2,994,9622021Assets 2022: $5,617,927Liabilities 2022: $2,239,782Net Assets 2022: $3,378,1452022Assets 2023: $5,650,477Liabilities 2023: $2,132,946Net Assets 2023: $3,517,5312023Assets 2024: $5,187,878Liabilities 2024: $1,598,887Net Assets 2024: $3,588,9912024Assets 2025: $5,146,504Liabilities 2025: $1,350,889Net Assets 2025: $3,795,6152025

Highlighted filing

2025

Assets$5,146,504
Liabilities$1,350,889
Net Assets$3,795,615
Open 2025 Filing

Operations Trend

Revenue Growth55th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $3,099,8632010Expenses 2011: $3,034,6652011Expenses 2012: $3,298,6662012Expenses 2013: $3,131,2382013Revenue 2014: $3,533,132Expenses 2014: $3,271,091Net Income 2014: $262,0412014Revenue 2015: $3,456,483Expenses 2015: $3,644,271Net Income 2015: -$187,7882015Revenue 2016: $3,476,752Expenses 2016: $3,326,957Net Income 2016: $149,7952016Revenue 2017: $3,260,491Expenses 2017: $3,372,719Net Income 2017: -$112,2282017Revenue 2018: $3,531,431Expenses 2018: $3,353,383Net Income 2018: $178,0482018Revenue 2019: $3,384,540Expenses 2019: $3,217,251Net Income 2019: $167,2892019Revenue 2020: $3,561,838Expenses 2020: $3,282,681Net Income 2020: $279,1572020Revenue 2021: $4,168,279Expenses 2021: $3,467,965Net Income 2021: $700,3142021Revenue 2022: $3,762,205Expenses 2022: $3,379,723Net Income 2022: $382,4822022Revenue 2023: $4,068,658Expenses 2023: $3,929,272Net Income 2023: $139,3862023Revenue 2024: $4,250,112Expenses 2024: $4,178,652Net Income 2024: $71,4602024Revenue 2025: $4,640,884Expenses 2025: $4,434,260Net Income 2025: $206,6242025

Highlighted filing

2025

Revenue$4,640,884
Expenses$4,434,260
Net Income$206,624
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,146,504
Liabilities
$1,350,889
Net assets
$3,795,615
Revenue
$4,640,884
Expenses
$4,434,260
Net income
$206,624
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$5.15$1.35$3.80$4.64$4.43$0.21
2024Detailed filing. Detailed filing data is available for this year.$5.19$1.60$3.59$4.25$4.18$0.07
2023Detailed filing. Detailed filing data is available for this year.$5.65$2.13$3.52$4.07$3.93$0.14
2022Detailed filing. Detailed filing data is available for this year.$5.62$2.24$3.38$3.76$3.38$0.38
2021Detailed filing. Detailed filing data is available for this year.$5.51$2.51$2.99$4.17$3.47$0.70
2020Detailed filing. Detailed filing data is available for this year.$3.98$1.69$2.29$3.56$3.28$0.28
2019Detailed filing. Detailed filing data is available for this year.$3.11$1.10$2.02$3.38$3.22$0.17
2018Detailed filing. Detailed filing data is available for this year.$2.99$1.14$1.85$3.53$3.35$0.18
2017Detailed filing. Detailed filing data is available for this year.$2.94$1.27$1.67$3.26$3.37$0.11
2016Detailed filing. Detailed filing data is available for this year.$3.10$1.32$1.79$3.48$3.33$0.15
2015Detailed filing. Detailed filing data is available for this year.$2.94$1.22$1.71$3.46$3.64$0.19
2014Detailed filing. Detailed filing data is available for this year.$3.27$1.36$1.91$3.53$3.27$0.26
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.21$1.55$1.65$3.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.22$1.54$1.67$3.30
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.06$1.44$1.62$3.03
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.94$1.45$1.49$3.10
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Feb 25, 2026
Return Version
2024v5.2
Gross Receipts
$4,659,945
Mission and Program Overview

Mission

Intelligent Faith: Equipping minds and engaging hearts for Gods Kingdom purposes. Please see our website for our philosophy and additional information.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,538,115$4,480,935▼ $57,180
Cash and Non-Interest-Bearing Accounts$114,155$277,115▲ $162,960
Savings and Temporary Cash Investments$406,597$264,038▼ $142,559
Accounts Receivable$107,523$116,235▲ $8,712
Prepaid Expenses and Deferred Charges$20,465$5,707▼ $14,758
Total Assets$5,187,878$5,146,504▼ $41,374
Other Assets Total$1,023$2,474▲ $1,451
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,504,156$1,338,210▼ $165,946
Accounts Payable and Accrued Expenses$38,041$11,125▼ $26,916
Deferred Revenue$56,690$1,554▼ $55,136
Other Liabilities-$0-
Total Liabilities$1,598,887$1,350,889▼ $247,998
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,493,325$3,640,474▲ $147,149
Net Assets With Donor Restrictions$95,666$155,141▲ $59,475
Total Net Assets Fund Balance$3,588,991$3,795,615▲ $206,624
Total Liabilities and Net Assets / Fund Balance$5,187,878$5,146,504▼ $41,374

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,613,517$1,738,548$4,352,065
Land$1,537,018-$1,537,018
Other Land Buildings$302,163$351,176$653,339
Equipment$28,237$245,352$273,589
Compensation and Service Providers
Top Officer Pay53rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Dr Robert WoodsSchool HeadmasterFT$141,998$141,998

Board Members and Trustees

NameTitle
Dr Gary PrechterChair
Rev Anthony CraverBoard Member
Dr Chris MeyerSecretary
Kristen MartinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,464,819
Program Service Revenue
$3,117,784
Investment Income
$7,283
Other Revenue
$50,998
All Other Contributions
$146,312
Change in Net Assets
$206,624
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,180,326
Other Expenses$1,253,934
Total Fundraising Expense$132,962
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,367,794$184,162$78,726$2,630,682
Occupancy$262,347$10,853$4,650$277,850
Payroll Taxes$224,700$17,477$7,490$249,667
All Other Expenses$194,958$647$25,137$220,742
Current Officers, Directors, Trustees, and Key Employees$131,495$10,227$4,583$146,305
Other Employee Benefits$104,918$8,161$3,497$116,576
Depreciation Depletion$90,784$7,061$3,026$100,871
Other Expenses$83,695$0$0$83,695
Insurance$68,801$5,350$2,295$76,446
Fees for Services Other$67,494$3,796$1,627$72,917
Office Expenses$58,831$4,080$818$63,729
Comp Disqual Persons$33,386$2,597$1,113$37,096
Fees for Services Accounting$0$36,800$0$36,800
Information Technology$8,584$0$0$8,584
Fees for Service Investment Mgmnt Fees$0$6,228$0$6,228
Advertising$0$5,700$0$5,700
Total Functional Expenses$3,998,159$303,139$132,962$4,434,260
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$19,061
Fundraising Gross Income$17,068
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Night of the Common Arts$24,068$17,068$15,603$1,465
Total Events$24,068$17,068$19,061$-1,993
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Tina WoodsWife of HeadmasterEmployee WagesNo$37,096
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
Yes
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Veritas Christian Academy Inc
EIN
56-2089482
Phone
8286810546
Address
17 Cane Creek Road, Fletcher, NC 28732

Signing Officer

Name
Gary Prechter
Title
Board Chair
Phone
8286810546
Signed
2026-02-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Gary Prechter
Formed
1998
Legal Domicile
Nc
Voting Board Members
4
Independent Board Members
4
Employees
105
Volunteers
55

Preparer

Firm
Corliss & Solomon Pllc
Address
242 CHARLOTTE ST SUITE 1, ASHEVILLE, NC 28801
Preparer
Todd Oldenburg
Phone
8282360206
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The 990 is prepared by independent accountants, reviewed by management, presented to the Board for review, and approval or final revision.”

Pt VI, Line 12C

“Enforced as necessary. Any Board Member with a conflict of interest on any specific issue informs the Board and abstains from voting on the issue.”

Pt VI, Line 15A

“In the annual budgeting process, the Board approves a budget line for aggregate salary expense. The Board of Directors sets the Head of the Schools salary after a performance review.”

Pt VI, Line 18

“Forms 1023 & 990 are available upon request.”

Pt VI, Line 19

“Available upon request.”

Financial Statement Notes

Pt X, Line 2

“Veritas Christian Academny, Inc. is exempt from federal income taxes under 501(c)(3) of the Internal Revenue Code. Under the Code, however, income from certain activities not related to the organizations tax-exempt purpose may be subject to taxation as unrelated business income. The organization had no income from unrelated business activities in the current fiscal year and was, therefore, not required to file Federal Form 990-T (Exempt Organization Business Income Tax Return). The organization believes that it has appropriate support for all tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements.”

Raw XML AppendixShowing 400 of 487 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/MissionDesc0Intelligent Faith: Equipping minds and engaging hearts for Gods Kingdom purposes. Please see our website for our philosophy and additional information.
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IRS990/PrincipalOfficerNm0Dr Gary Prechter
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IRS990/ProgSrvcAccomActy2Grp/Desc0Our final gathering for the year was our Night of the Common Arts Fundraiser where adults came to view childrens art work, take classes, and roam the halls as if they were the students. Food was provided and a silent auction filled with artwork, handmade crafts and even baby chicks that were raised and hatched at our school. It was a beautiful event that filled our halls with even more joy and excitement!
IRS990/ProgSrvcAccomActy3Grp/Desc0As we end our year our beloved Headmaster, Dr. Woods and his wife Tina, who worked in the front office, informed the school that they were leaving after serving our school for nearly eight years. Their warmth and care will be deeply missed as they poured so much of their time and themselves into everything they did. As our staff gathered around and prayed for them with thankfulness for all of their years, our prayers were also filled with deep searching for who would fill those shoes. Shortly thereafter God graciously answered our prayers and Eric Woernle accepted the position to start the 2025-26 school year.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Veritas Christian Academny, Inc. is exempt from federal income taxes under 501(c)(3) of the Internal Revenue Code. Under the Code, however, income from certain activities not related to the organizations tax-exempt purpose may be subject to taxation as unrelated business income. The organization had no income from unrelated business activities in the current fiscal year and was, therefore, not required to file Federal Form 990-T (Exempt Organization Business Income Tax Return). The organization believes that it has appropriate support for all tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements.
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0Advertising, published material and website include nondiscriminatory clause. Advertising, published material and website include nondiscriminatory clause.
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0Tina Woods
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Wife of Headmaster
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The 990 is prepared by independent accountants, reviewed by management, presented to the Board for review, and approval or final revision.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Enforced as necessary. Any Board Member with a conflict of interest on any specific issue informs the Board and abstains from voting on the issue.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2In the annual budgeting process, the Board approves a budget line for aggregate salary expense. The Board of Directors sets the Head of the Schools salary after a performance review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Forms 1023 & 990 are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Available upon request.

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