Civic Intelligence

Veritas Academy Inc.

990 • Fiscal year 2017 • EIN 59-3333430

Jul 01, 2016 to Jun 30, 2017 • Filed on Nov 14, 2017

Organization ProfileWWW.VERITASACADEMY.COM
26 Hillcrest AveLeola, PA 17540

(717) 556-0690

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.34x

Higher debt load relative to assets than 73% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

41st percentile

0.06x

Higher debt load relative to revenue than 41% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

64th percentile

9.0%

Higher net margin than 64% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

85th percentile

27%

Faster asset growth than 85% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

67th percentile

14%

Faster revenue growth than 67% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$349,055

Up $74,992 (+27%) from 2016

Net Assets

Up

$229,213

Up $174,965 (+323%) from 2016

Liabilities

Down

$119,842

Down $99,973 (-45%) from 2016

Revenue And Expenses
Liabilities / Revenue41st percentileNet Margin64th percentile

Revenue

Up

$1,940,064

Up $244,974 (+14%) from 2016

Expenses

Up

$1,765,099

Up $138,032 (+8.5%) from 2016

Net Income

Up

$174,965

Up $106,942 (+157%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth85th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MAssets 2011: $109,859Liabilities 2011: $204,317Net Assets 2011: -$94,4582011Assets 2012: $139,164Liabilities 2012: $292,995Net Assets 2012: -$153,8312012Assets 2013: $68,177Liabilities 2013: $181,753Net Assets 2013: -$113,5762013Assets 2014: $101,189Liabilities 2014: $127,264Net Assets 2014: -$26,0752014Assets 2015: $202,128Liabilities 2015: $215,903Net Assets 2015: -$13,7752015Assets 2016: $274,063Liabilities 2016: $219,815Net Assets 2016: $54,2482016Assets 2017: $349,055Liabilities 2017: $119,842Net Assets 2017: $229,2132017Assets 2018: $521,814Liabilities 2018: $106,160Net Assets 2018: $415,6542018Assets 2019: $575,490Liabilities 2019: $91,750Net Assets 2019: $483,7402019Assets 2020: $1,147,098Liabilities 2020: $356,767Net Assets 2020: $790,3312020Assets 2021: $4,461,777Liabilities 2021: $2,721,296Net Assets 2021: $1,740,4812021Assets 2022: $5,666,078Liabilities 2022: $3,334,648Net Assets 2022: $2,331,4302022Assets 2023: $6,159,185Liabilities 2023: $3,274,359Net Assets 2023: $2,884,8262023Assets 2024: $6,697,637Liabilities 2024: $3,185,733Net Assets 2024: $3,511,9042024Assets 2025: $7,697,730Liabilities 2025: $3,080,081Net Assets 2025: $4,617,6492025

Highlighted filing

2017

Assets$349,055
Liabilities$119,842
Net Assets$229,213
Open 2017 Filing

Operations Trend

Revenue Growth67th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $1,145,154Expenses 2011: $1,218,209Net Income 2011: -$73,0552011Revenue 2012: $1,192,934Expenses 2012: $1,252,307Net Income 2012: -$59,3732012Revenue 2013: $1,393,137Expenses 2013: $1,352,883Net Income 2013: $40,2542013Revenue 2014: $1,486,859Expenses 2014: $1,399,358Net Income 2014: $87,5012014Revenue 2015: $1,541,872Expenses 2015: $1,529,573Net Income 2015: $12,2992015Revenue 2016: $1,695,090Expenses 2016: $1,627,067Net Income 2016: $68,0232016Revenue 2017: $1,940,064Expenses 2017: $1,765,099Net Income 2017: $174,9652017Revenue 2018: $2,203,833Expenses 2018: $2,017,392Net Income 2018: $186,4412018Revenue 2019: $2,199,575Expenses 2019: $2,139,449Net Income 2019: $60,1262019Revenue 2020: $2,498,533Expenses 2020: $2,191,942Net Income 2020: $306,5912020Revenue 2021: $3,403,646Expenses 2021: $2,453,496Net Income 2021: $950,1502021Revenue 2022: $3,545,855Expenses 2022: $2,954,906Net Income 2022: $590,9492022Revenue 2023: $4,273,600Expenses 2023: $3,720,204Net Income 2023: $553,3962023Revenue 2024: $4,819,883Expenses 2024: $4,236,550Net Income 2024: $583,3332024Revenue 2025: $5,734,564Expenses 2025: $4,628,819Net Income 2025: $1,105,7452025

Highlighted filing

2017

Revenue$1,940,064
Expenses$1,765,099
Net Income$174,965
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 14, 2017
Return Version
2016v3.0
Gross Receipts
$1,947,776
Mission and Program Overview

Mission

Educating students in grades k-12 using the classical christian education method.

Classical christian k-12 school teaching grammar, dialectic and rhetoric.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$254,907$306,449▲ $51,542
Accounts Receivable$14,536$34,571▲ $20,035
Savings and Temporary Cash Investments-$3,415-
Total Assets$274,063$349,055▲ $74,992
Other Assets Total$4,620$4,620→ $0
Liabilities
Deferred Revenue$213,181$112,138▼ $101,043
Accounts Payable and Accrued Expenses$5,238$6,048▲ $810
Other Liabilities$1,396$1,656▲ $260
Total Liabilities$219,815$119,842▼ $99,973
Net Assets / Fund Balance
Unrestricted Net Assets$43,267$176,645▲ $133,378
Temporarily Rstr Net Assets$8,481$49,153▲ $40,672
Permanently Rstr Net Assets$2,500$3,415▲ $915
Total Net Assets Fund Balance$54,248$229,213▲ $174,965
Total Liabilities and Net Assets / Fund Balance$274,063$349,055▲ $74,992

Asset Categories

AssetBook ValueDepreciationBasis
Buildings-$63,002$63,002

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016-$3,100▲ $315-$3,415
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Keith KruegerChairman
Beth MccollumBoard Member
Chris MartinBoard Member
Peter LielbriedisBoard Member
Eric SeegerSecretary
Jeff MylinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$338,493
Program Service Revenue
$1,571,533
Investment Income
$315
Other Revenue
$29,723
All Other Contributions
$338,493
Change in Net Assets
$174,965
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,252,351
Other Expenses$497,748
Total Fundraising Expense$50,691
Professional Fundraising Fees$15,000
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$890,888$231,311$32,920$1,155,119
Occupancy$152,653--$152,653
Payroll Taxes$74,990$19,471$2,771$97,232
Advertising$64,494--$64,494
Office Expenses$37,675--$37,675
Other Expenses$23,970--$23,970
All Other Expenses$21,077--$21,077
Information Technology$19,807--$19,807
Conferences and Meetings$17,463--$17,463
Insurance$16,430--$16,430
Fees for Services Professional Fundraising--$15,000$15,000
Fees for Services Accounting$8,083--$8,083
Fees for Services Other$4,242--$4,242
Total Functional Expenses$1,463,626$250,782$50,691$1,765,099
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$37,435
Professional Fundraising Fees$15,000
Fundraising Direct Expenses$7,712

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Student Fundrai$27,171$27,171$3,098$24,073
Athletic$10,264$10,264$4,614$5,650
Total Events$37,435$37,435$7,712$29,723
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Family Accounts (prepaid Money to$1,656
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted”

Form 990, Page 6, Part VI, Line 12C

“Annually each interested person reviews our conflict of interest policy. The policy is reviewed annually by each member of the board of governors.”

Form 990, Page 6, Part VI, Line 19

“Documents in office available upon request”

Filing and Contact Details

Filer

Filer Name
Veritas Academy Inc
EIN
59-3333430
Phone
7175560690
Address
26 HILLCREST AVE, LEOLA, PA 17540

Signing Officer

Name
Jeff Mylin
Title
Treasurer
Phone
7175560690
Signed
2017-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Keith Krueger
Formed
1996
Legal Domicile
Pa
Voting Board Members
6
Independent Board Members
6
Employees
56

Preparer

Firm
Integrity Cpas LLC
Address
1417 PENNSCOTT DR, LANDISVILLE, PA 17538-1541
Preparer
Kyle M Smith CPA
Phone
7176823705
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“Earnings to be used for operations”

Raw XML Appendix381 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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IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0true
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01656
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0FAMILY ACCOUNTS (PREPAID MONEY TO
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct01.00000
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0EARNINGS TO BE USED FOR OPERATIONS
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
IRS990ScheduleD/TotalLiabilityAmt01656
IRS990ScheduleE/ComplianceWithRevProc7550Ind0false
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/MaintainRacialCompRecsInd0false
IRS990ScheduleE/MaintainScholarshipsRecsInd0false
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0false
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0false
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0WE CURRENTLY KEEP NO RECORDS CONTAINING THE RACIAL COMPOSITION OF THE STUDENT BODY, FACULTY, OR ADMINISTRATIVE STAFF. WE DO NOT GATHER THAT INFORMATION.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1WE CURRENTLY KEEP NO RECORDS CONTAINING THE RACIAL COMPOSITION OF THE STUDENT BODY, FACULTY, OR ADMINISTRATIVE STAFF. WE DO NOT GATHER THAT INFORMATION.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 7
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt07712
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0STUDENT FUNDRAI
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0ATHLETIC
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt027171
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt010264
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt037435
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt027171
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt010264
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt037435
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt029723
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt07712
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt03098
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt04614
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO REVIEW WAS OR WILL BE CONDUCTED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANNUALLY EACH INTERESTED PERSON REVIEWS OUR CONFLICT OF INTEREST POLICY. THE POLICY IS REVIEWED ANNUALLY BY EACH MEMBER OF THE BOARD OF GOVERNORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS IN OFFICE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt08481
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt049153
IRS990/TempOrPermanentEndowmentsInd0true
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0274063
IRS990/TotalAssetsEOYAmt0349055
IRS990/TotalAssetsGrp/BOYAmt0274063
IRS990/TotalAssetsGrp/EOYAmt0349055
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0338493
IRS990/TotalEmployeeCnt056
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt050691
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0250782
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01463626
IRS990/TotalFunctionalExpensesGrp/TotalAmt01765099
IRS990/TotalGrossUBIAmt0315
IRS990/TotalLiabilitiesBOYAmt0219815
IRS990/TotalLiabilitiesEOYAmt0119842
IRS990/TotalLiabilitiesGrp/BOYAmt0219815
IRS990/TotalLiabilitiesGrp/EOYAmt0119842
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt054248
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0229213
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt057987
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt057987
IRS990/TotalProgramServiceExpensesAmt01463626
IRS990/TotalProgramServiceRevenueAmt01571533
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01571533
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01940064
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0315
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0274063
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0349055
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt043267
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0176645
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.VERITASACADEMY.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JEFF MYLIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07175560690
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VERITAS ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0VERI
ReturnHeader/Filer/EIN0593333430
ReturnHeader/Filer/PhoneNum07175560690
ReturnHeader/Filer/USAddress/AddressLine1Txt026 HILLCREST AVE
ReturnHeader/Filer/USAddress/CityNm0LEOLA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd017540
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0F2E19A53A4819E92CBC070A353823C8909EBBBDD
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0BC80F53CDD3B245B361D80738B66E5B913D510D4
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0822461588
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0INTEGRITY CPAS LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01417 PENNSCOTT DR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LANDISVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0175381541
ReturnHeader/PreparerPersonGrp/PhoneNum07176823705
ReturnHeader/PreparerPersonGrp/PreparationDt02017-11-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KYLE M SMITH CPA
ReturnHeader/ReturnTs02017-11-13T14:03:14-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$349,055
Liabilities
$119,842
Net assets
$229,213
Revenue
$1,940,064
Expenses
$1,765,099
Net income
$174,965
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.70$3.08$4.62$5.73$4.63$1.11
2024Detailed filing. Detailed filing data is available for this year.$6.70$3.19$3.51$4.82$4.24$0.58
2023Detailed filing. Detailed filing data is available for this year.$6.16$3.27$2.88$4.27$3.72$0.55
2022Detailed filing. Detailed filing data is available for this year.$5.67$3.33$2.33$3.55$2.95$0.59
2021Detailed filing. Detailed filing data is available for this year.$4.46$2.72$1.74$3.40$2.45$0.95
2020Detailed filing. Detailed filing data is available for this year.$1.15$0.36$0.79$2.50$2.19$0.31
2019Detailed filing. Detailed filing data is available for this year.$0.58$0.09$0.48$2.20$2.14$0.06
2018Detailed filing. Detailed filing data is available for this year.$0.52$0.11$0.42$2.20$2.02$0.19
2017Detailed filing. Detailed filing data is available for this year.$0.35$0.12$0.23$1.94$1.77$0.17
2016Detailed filing. Detailed filing data is available for this year.$0.27$0.22$0.05$1.70$1.63$0.07
2015Summary only. Only limited summary data is available for this year.$0.20$0.22$0.01$1.54$1.53$0.01
2014Summary only. Only limited summary data is available for this year.$0.10$0.13$0.03$1.49$1.40$0.09
2013Summary only. Only limited summary data is available for this year.$0.07$0.18$0.11$1.39$1.35$0.04
2012Summary only. Only limited summary data is available for this year.$0.14$0.29$0.15$1.19$1.25$0.06
2011Summary only. Only limited summary data is available for this year.$0.11$0.20$0.09$1.15$1.22$0.07