Civic Intelligence

Veritas Academy Inc.

990 • Fiscal year 2021 • EIN 59-3333430

Jul 01, 2020 to Jun 30, 2021 • Filed on Sep 22, 2021

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

87th percentile

0.61x

Higher debt load relative to assets than 87% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

85th percentile

0.80x

Higher debt load relative to revenue than 85% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

72nd percentile

28%

Higher net margin than 72% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

98th percentile

289%

Faster asset growth than 98% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

70th percentile

36%

Faster revenue growth than 70% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$4,461,777

Up $3,314,679 (+289%) from 2020

Net Assets

Up

$1,740,481

Up $950,150 (+120%) from 2020

Liabilities

Up

$2,721,296

Up $2,364,529 (+663%) from 2020

Revenue

Up

$3,403,646

Up $905,113 (+36%) from 2020

Expenses

Up

$2,453,496

Up $261,554 (+12%) from 2020

Net Income

Up

$950,150

Up $643,559 (+210%) from 2020

Historical Trend

Balance Sheet Trend

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

2021

Assets$4,461,777
Liabilities$2,721,296
Net Assets$1,740,481

Operations Trend

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

2021

Revenue$3,403,646
Expenses$2,453,496
Net Income$950,150
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Sep 22, 2021
Return Version
2020v4.0
Gross Receipts
$3,403,954
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
Land, Buildings, and Equipment, Net$96,622$3,394,987▲ $3,298,365
Cash and Non-Interest-Bearing Accounts$1,018,995$1,020,763▲ $1,768
Pledges and Grants Receivable-$18,500-
Accounts Receivable$7,502$14,333▲ $6,831
Prepaid Expenses and Deferred Charges$12,344--
Savings and Temporary Cash Investments$7,015$10,730▲ $3,715
Total Assets$1,147,098$4,461,777▲ $3,314,679
Other Assets Total$4,620$2,464▼ $2,156
Liabilities
Unsecured Notes Loans Payable$302,552$2,659,745▲ $2,357,193
Deferred Revenue$40,822$49,416▲ $8,594
Accounts Payable and Accrued Expenses$9,561$12,135▲ $2,574
Other Liabilities$3,832--
Total Liabilities$356,767$2,721,296▲ $2,364,529
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$620,261$1,712,844▲ $1,092,583
Net Assets With Donor Restrictions$170,070$27,637▼ $142,433
Total Net Assets Fund Balance$790,331$1,740,481▲ $950,150
Total Liabilities and Net Assets / Fund Balance$1,147,098$4,461,777▲ $3,314,679

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$3,080,387$59,830$3,140,217
Land$314,600-$314,600

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019-$1,200▲ $382-$7,015
2018-$1,100▲ $616-$5,950
2017-$1,100▲ $206-$4,721
2016-$3,100▲ $315-$3,415
Compensation and Service Providers

Board Members and Trustees

NameTitle
Dan SpanjerChairman
Kevin ReamVice Chair
Andy LongBoard Member
Charles HeathBoard Member
Rona MartinBoard Member
Scott ForbesBoard Member
Susan McknightBoard Member
David AungstSecretary
Stephen Mark MosesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,651,814
Program Service Revenue
$1,748,655
Investment Income
$2,762
Other Revenue
$415
All Other Contributions
$1,315,124
Change in Net Assets
$950,150

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$302,552
Total Noncash Contributions1$302,552
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,770,291
Other Expenses$683,205
Total Fundraising Expense$153,217
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,411,593$117,461$108,215$1,637,269
Occupancy$218,738$15,414$14,202$248,354
Payroll Taxes$114,687$9,543$8,792$133,022
Office Expenses$63,227--$63,227
All Other Expenses$49,858--$49,858
Advertising-$25,263$18,779$44,042
Information Technology$41,345--$41,345
Depreciation Depletion$21,590$1,797$1,655$25,042
Insurance$18,474$1,537$1,416$21,427
Other Expenses$20,292--$20,292
Fees for Services Accounting-$17,618-$17,618
Fees for Services Other$9,782--$9,782
Interest$2,065$172$158$2,395
Conferences and Meetings$1,917--$1,917
Total Functional Expenses$2,111,474$188,805$153,217$2,453,496
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$723
Fundraising Direct Expenses$308
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
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

Form 990 provided to board and reviewed prior to filing

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
Stephen Mark Moses
Title
Treasurer
Phone
7175560690
Signed
2021-09-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dan Spanjer
Formed
1996
Legal Domicile
Pa
Voting Board Members
9
Independent Board Members
9
Employees
86
Volunteers
100

Preparer

Firm
Integrity Cpas LLC
Address
7 STAUFFER LANE SUITE 100, EPHRATA, PA 17522-8655
Preparer
Kyle M Smith CPA
Phone
7177387346
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

Earnings to be used for operations

Raw XML AppendixShowing 400 of 419 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/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt263832
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt330876
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IRS990/PYContributionsGrantsAmt0784203
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IRS990/PYInvestmentIncomeAmt0382
IRS990/PYOtherExpensesAmt0614188
IRS990/PYOtherRevenueAmt0135
IRS990/PYProgramServiceRevenueAmt01713813
IRS990/PYRevenuesLessExpensesAmt0306591
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IRS990/PYTotalRevenueAmt02498533
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt07015
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0382
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt01100
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt05950
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0616
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt01100
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt04721
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0206
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt03100
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt03415
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0315
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/LandGrp/BookValueAmt0314600
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0314600
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt03080387
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt059830
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt03140217
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0EARNINGS TO BE USED FOR OPERATIONS
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt03394987
IRS990ScheduleE/ComplianceWithRevProc7550Ind0false
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
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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.
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IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 7
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IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt01
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd0X
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IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 PROVIDED TO BOARD AND REVIEWED PRIOR TO FILING
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
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalContributionsAmt01651814
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0188805
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02111474
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt052176
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt052176
IRS990/TotalProgramServiceExpensesAmt02111474
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IRS990/TotalRevenueGrp/ExclusionAmt02762
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IRS990/TotalVolunteersCnt0100
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0302552
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt02659745
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.VERITASACADEMY.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0STEPHEN MARK MOSES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07175560690
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-09-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VERITAS ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0VERI
ReturnHeader/Filer/EIN0593333430
ReturnHeader/Filer/PhoneNum07175560690
ReturnHeader/Filer/USAddress/AddressLine1Txt026 HILLCREST AVE

Document Assets

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Filings

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