Civic Intelligence

Veritas Academy Inc.

990 • Fiscal year 2018 • EIN 58-2392999

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 14, 2019

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

77th percentile

0.29x

Higher debt load relative to assets than 77% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

71st percentile

0.14x

Higher debt load relative to revenue than 71% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

28th percentile

-4.8%

Higher net margin than 28% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

56th percentile

3.6%

Faster asset growth than 56% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

43rd percentile

0.9%

Faster revenue growth than 43% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$468,404

Up $16,372 (+3.6%) from 2017

Net Assets

Down

$334,745

Down $44,956 (-12%) from 2017

Liabilities

Up

$133,659

Up $61,328 (+85%) from 2017

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin28th percentile

Revenue

Up

$945,784

Up $8,394 (+0.9%) from 2017

Expenses

Up

$990,740

Up $117,211 (+13%) from 2017

Net Income

Down

-$44,956

Down $108,817 (-170%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth56th 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

2018

Assets$468,404
Liabilities$133,659
Net Assets$334,745
Open 2018 Filing

Operations Trend

Revenue Growth43rd 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

2018

Revenue$945,784
Expenses$990,740
Net Income-$44,956
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 14, 2019
Return Version
2018v3.1
Gross Receipts
$955,566
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$442,032$460,568▲ $18,536
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$452,032$468,404▲ $16,372
Other Assets Total$10,000$7,836▼ $2,164
Liabilities
Deferred Revenue$50,010$101,666▲ $51,656
Accounts Payable and Accrued Expenses$22,321$31,993▲ $9,672
Total Liabilities$72,331$133,659▲ $61,328
Net Assets / Fund Balance
Unrestricted Net Assets$379,701$334,745▼ $44,956
Total Net Assets Fund Balance$379,701$334,745▼ $44,956
Total Liabilities and Net Assets / Fund Balance$452,032$468,404▲ $16,372
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
Andrea JarrettBoard Chair
David ClelandDirector
David GobelDirector
Peter SchenkDirector
Tim BarrettDirector
Will BrodmannDirector
Frankie DaniellSecretary
Ken WoodTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$876,878
Investment Income
$904
Other Revenue
$68,002
Change in Net Assets
$-44,956
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$798,078
Other Expenses$192,662
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$742,152--$742,152
All Other Expenses$31,702$51,266-$82,968
Payroll Taxes$55,926--$55,926
Other Expenses$16,524$11,646-$16,524
Fees for Services Other-$3,400-$3,400
Total Functional Expenses$924,428$66,312$0$990,740
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$77,784
Fundraising Direct Expenses$9,782
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Fund$53,508$53,508-$53,508
A Taste of the Classics$24,276$24,276$9,782$14,494
Total Events$77,784$77,784$9,782$68,002
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
2019-11-14
Discuss with paid preparer
Yes

Organization Details

Legal Domicile
Ga
Voting Board Members
7
Independent Board Members
7
Employees
46
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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IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0442032
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0460568
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
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/DirectExpenseSummaryEventsAmt09782
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0Annual Fund
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0A Taste of the Classics
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt053508
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt024276
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt077784
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt053508
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt024276
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt077784
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt068002
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt09782
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt09782
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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0452032
IRS990/TotalAssetsEOYAmt0468404
IRS990/TotalAssetsGrp/BOYAmt0452032
IRS990/TotalAssetsGrp/EOYAmt0468404
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt046
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt066312
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0924428
IRS990/TotalFunctionalExpensesGrp/TotalAmt0990740
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt072331
IRS990/TotalLiabilitiesEOYAmt0133659
IRS990/TotalLiabilitiesGrp/BOYAmt072331
IRS990/TotalLiabilitiesGrp/EOYAmt0133659
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0379701
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0334745
IRS990/TotalProgramServiceExpensesAmt0924428
IRS990/TotalProgramServiceRevenueAmt0876878
IRS990/TotalRevenueGrp/ExclusionAmt0904
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0876878
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0945784
IRS990/TotalVolunteersCnt040
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0452032
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0468404
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0379701
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0334745
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0P O BOX 8332
IRS990/USAddress/CityNm0SAVANNAH
IRS990/USAddress/StateAbbreviationCd0GA
IRS990/USAddress/ZIPCd031401
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.VERITAS-SAVANNAH.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-04-17 16:48:07Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Ken Wood
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-14
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

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$468,404
Liabilities
$133,659
Net assets
$334,745
Revenue
$945,784
Expenses
$990,740
Net income
-$44,956
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
2018Detailed filing. Detailed filing data is available for this year.$0.47$0.13$0.33$0.95$0.99$0.04
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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