Civic Intelligence

Veritas Academy Inc.

990 • Fiscal year 2017 • EIN 58-2392999

Jan 01, 2017 to Dec 31, 2017 • Filed on Sep 12, 2018

Organization ProfileWWW.VERITAS-SAVANNAH.ORG
P O Box 8332Savannah, GA 31401

(912) 238-9402

Siviq Scores

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

Liabilities / Assets

69th percentile

0.16x

Higher debt load relative to assets than 69% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

62nd percentile

0.08x

Higher debt load relative to revenue than 62% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

58th percentile

6.8%

Higher net margin than 58% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Asset Growth

73rd percentile

16%

Faster asset growth than 73% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

70th percentile

19%

Faster revenue growth than 70% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets69th percentile

Assets

Up

$452,032

Up $61,707 (+16%) from 2016

Net Assets

Up

$379,701

Up $63,861 (+20%) from 2016

Liabilities

Down

$72,331

Down $2,154 (-2.9%) from 2016

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin58th percentile

Revenue

Up

$937,390

Up $152,225 (+19%) from 2016

Expenses

Up

$873,529

Up $67,496 (+8.4%) from 2016

Net Income

Up

$63,861

Up $84,729 (+406%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth73rd percentile

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

$1.0M$500K$0-$500KAssets 2010: $37,293Liabilities 2010: $143,679Net Assets 2010: -$106,3862010Assets 2011: $223,301Liabilities 2011: $73,230Net Assets 2011: $150,0712011Assets 2012: $265,953Liabilities 2012: $59,196Net Assets 2012: $206,7572012Assets 2013: $297,807Liabilities 2013: $56,090Net Assets 2013: $241,7172013Assets 2014: $353,129Liabilities 2014: $59,460Net Assets 2014: $293,6692014Assets 2015: $385,796Liabilities 2015: $49,088Net Assets 2015: $336,7082015Assets 2016: $390,325Liabilities 2016: $74,485Net Assets 2016: $315,8402016Assets 2017: $452,032Liabilities 2017: $72,331Net Assets 2017: $379,7012017Assets 2018: $468,404Liabilities 2018: $133,659Net Assets 2018: $334,7452018Assets 2019: $537,762Liabilities 2019: $181,474Net Assets 2019: $356,2882019Assets 2020: $646,574Liabilities 2020: $98,596Net Assets 2020: $547,9782020Assets 2021: $636,331Liabilities 2021: $86,749Net Assets 2021: $549,5822021Assets 2022: $784,001Liabilities 2022: $196,006Net Assets 2022: $587,9952022Assets 2023: $662,998Liabilities 2023: $167,591Net Assets 2023: $495,4072023Assets 2024: $672,741Liabilities 2024: $208,268Net Assets 2024: $464,4732024

Highlighted filing

2017

Assets$452,032
Liabilities$72,331
Net Assets$379,701
Open 2017 Filing

Operations Trend

Revenue Growth70th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2010: $665,712Expenses 2010: $665,463Net Income 2010: $2492010Revenue 2011: $919,560Expenses 2011: $663,103Net Income 2011: $256,4572011Revenue 2012: $736,901Expenses 2012: $680,215Net Income 2012: $56,6862012Revenue 2013: $620,999Expenses 2013: $586,039Net Income 2013: $34,9602013Revenue 2014: $676,544Expenses 2014: $624,592Net Income 2014: $51,9522014Revenue 2015: $765,289Expenses 2015: $722,250Net Income 2015: $43,0392015Revenue 2016: $785,165Expenses 2016: $806,033Net Income 2016: -$20,8682016Revenue 2017: $937,390Expenses 2017: $873,529Net Income 2017: $63,8612017Revenue 2018: $945,784Expenses 2018: $990,740Net Income 2018: -$44,9562018Revenue 2019: $1,140,586Expenses 2019: $1,119,043Net Income 2019: $21,5432019Revenue 2020: $1,363,394Expenses 2020: $1,171,704Net Income 2020: $191,6902020Revenue 2021: $1,355,166Expenses 2021: $1,353,562Net Income 2021: $1,6042021Revenue 2022: $1,446,485Expenses 2022: $1,408,072Net Income 2022: $38,4132022Revenue 2023: $1,415,311Expenses 2023: $1,507,899Net Income 2023: -$92,5882023Revenue 2024: $1,532,856Expenses 2024: $1,563,790Net Income 2024: -$30,9342024

Highlighted filing

2017

Revenue$937,390
Expenses$873,529
Net Income$63,861
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Sep 12, 2018
Return Version
2017v2.2
Gross Receipts
$942,865
Mission and Program Overview

Mission

The purpose of the corporation is to maintain a christian school for the instruction of children.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$390,325$442,032▲ $51,707
Cash and Non-Interest-Bearing Accounts-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$390,325$452,032▲ $61,707
Other Assets Total-$10,000-
Liabilities
Deferred Revenue$70,715$50,010▼ $20,705
Accounts Payable and Accrued Expenses$3,770$22,321▲ $18,551
Total Liabilities$74,485$72,331▼ $2,154
Net Assets / Fund Balance
Unrestricted Net Assets$315,840$379,701▲ $63,861
Total Net Assets Fund Balance$315,840$379,701▲ $63,861
Total Liabilities and Net Assets / Fund Balance$390,325$452,032▲ $61,707
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Brad FennellChairman
Will BrodmannVice Chairman
Adrea JarrettDirector
Frankie DaniellDirector
Tim BarrettDirector
Laura BrodmannSecretary
Ken WoodTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$890,587
Investment Income
$765
Other Revenue
$46,038
Change in Net Assets
$63,861
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$695,171
Other Expenses$178,358
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$645,171--$645,171
All Other Expenses$37,369$47,979-$85,348
Payroll Taxes$50,000--$50,000
Other Expenses$17,704$14,739-$17,704
Fees for Services Other-$4,891-$4,891
Total Functional Expenses$805,920$67,609$0$873,529
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$51,513
Fundraising Direct Expenses$5,475
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
A Taste of the Classics$27,815$27,815$5,475$22,340
Annual Fund$23,698$23,698-$23,698
Total Events$51,513$51,513$5,475$46,038
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The review was completed by the board of directors.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Veritas Academy Inc
EIN
58-2392999
Phone
9122389402
Address
P O BOX 8332, SAVANNAH, GA 31401

Signing Officer

Name
Ken Wood
Title
Treasurer
Signed
2018-09-12
Discuss with paid preparer
Yes

Organization Details

Legal Domicile
Ga
Voting Board Members
7
Independent Board Members
7
Employees
38
Volunteers
40

Preparer

Firm
KRT CPAs PC
Address
6600 Abercorn Street Suite 200, Savannah, GA 31405
Preparer
Andrew W Brodmann CPA
Phone
9122320475
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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/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990ScheduleG/AgrmtProfFundraisingActyInd0false
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt05475
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0A Taste of the Classics
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0Annual Fund
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt027815
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt023698
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt051513
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt027815
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt023698
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt051513
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt046038
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt05475
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt05475
IRS990ScheduleG/InPersonSolicitationsInd0X
IRS990ScheduleG/MailSolicitationsInd0X
IRS990ScheduleG/SpecialFundraisingEventsInd0X
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The review was completed by the board of directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0GA
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0390325
IRS990/TotalAssetsEOYAmt0452032
IRS990/TotalAssetsGrp/BOYAmt0390325
IRS990/TotalAssetsGrp/EOYAmt0452032
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt038
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt067609
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0805920
IRS990/TotalFunctionalExpensesGrp/TotalAmt0873529
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt074485
IRS990/TotalLiabilitiesEOYAmt072331
IRS990/TotalLiabilitiesGrp/BOYAmt074485
IRS990/TotalLiabilitiesGrp/EOYAmt072331
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0315840
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0379701
IRS990/TotalProgramServiceExpensesAmt0805920
IRS990/TotalProgramServiceRevenueAmt0890587
IRS990/TotalRevenueGrp/ExclusionAmt0765
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0890587
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0937390
IRS990/TotalVolunteersCnt040
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0390325
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0452032
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0315840
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0379701
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.VERITAS-SAVANNAH.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Ken Wood
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-09-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VERITAS ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0VERI
ReturnHeader/Filer/EIN0582392999
ReturnHeader/Filer/PhoneNum09122389402
ReturnHeader/Filer/USAddress/AddressLine1Txt0P O BOX 8332
ReturnHeader/Filer/USAddress/CityNm0SAVANNAH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0GA
ReturnHeader/Filer/USAddress/ZIPCd031401
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0581202894
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KRT CPAs PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06600 Abercorn Street Suite 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Savannah
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd031405
ReturnHeader/PreparerPersonGrp/PhoneNum09122320475
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Andrew W Brodmann CPA
ReturnHeader/ReturnTs02018-09-12T12:40:54-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

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
$452,032
Liabilities
$72,331
Net assets
$379,701
Revenue
$937,390
Expenses
$873,529
Net income
$63,861
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.67$0.21$0.46$1.53$1.56$0.03
2023Summary only. Only limited summary data is available for this year.$0.66$0.17$0.50$1.42$1.51$0.09
2022Summary only. Only limited summary data is available for this year.$0.78$0.20$0.59$1.45$1.41$0.04
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.64$0.09$0.55$1.36$1.35$0.00
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.65$0.10$0.55$1.36$1.17$0.19
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.54$0.18$0.36$1.14$1.12$0.02
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.47$0.13$0.33$0.95$0.99$0.04
2017Detailed filing. Detailed filing data is available for this year.$0.45$0.07$0.38$0.94$0.87$0.06
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.39$0.07$0.32$0.79$0.81$0.02
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.39$0.05$0.34$0.77$0.72$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.35$0.06$0.29$0.68$0.62$0.05
2013Detailed filing. Detailed filing data is available for this year.$0.30$0.06$0.24$0.62$0.59$0.03
2012Summary only. Only limited summary data is available for this year.$0.27$0.06$0.21$0.74$0.68$0.06
2011Summary only. Only limited summary data is available for this year.$0.22$0.07$0.15$0.92$0.66$0.26
2010Summary only. Only limited summary data is available for this year.$0.04$0.14$0.11$0.67$0.67$0.00