Veritas Preparatory Academy
- Assets
- $2.6m
- Revenue
- $9.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Phoenix, AZ
- Founding
- 02/2003
- Data as of
- 06/2022
- EIN
- 05-0527441
Organization Overview
Veritas Preparatory Academy is located in Phoenix, AZ. The organization was established in 2003. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Veritas Preparatory Academy is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Veritas Preparatory Academy generated $9.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $8.7m during the year ending 06/2022. While expenses have increased by 5.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
A VERITAS PREPARATORY ACADEMY EDUCATION PREPARES STUDENTS TO BE MORE THAN JUST PROFICIENT TEST TAKERS, BUT RATHER, TO BECOME GREAT-HEARTED LEADERS CAPABLE OF SUCCESS THROUGHOUT THEIR HIGHER EDUCATION AND PROFESSIONAL CAREERS. WITH A CURRICULUM BUILT UPON A CLASSICAL LIBERAL ARTS TRADITION AND A REVOLUTIONARY APPROACH TO SCHOOL ITSELF, GREAT HEARTS CULTIVATES THE HEARTS AND MINDS OF STUDENTS IN THE PURSUIT OF TRUTH, GOODNESS, AND BEAUTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A VERITAS PREPARATORY ACADEMY EDUCATION PREPARES STUDENTS TO BE MORE THAN JUST PROFICIENT TEST TAKERS, BUT RATHER, TO BECOME GREAT-HEARTED LEADERS CAPABLE OF SUCCESS THROUGHOUT THEIR HIGHER EDUCATION AND PROFESSIONAL CAREERS. WITH A CURRICULUM BUILT UPON A CLASSICAL LIBERAL ARTS TRADITION AND A REVOLUTIONARY APPROACH TO SCHOOL ITSELF, GREAT HEARTS CULTIVATES THE HEARTS AND MINDS OF STUDENTS IN THE PURSUIT OF TRUTH, GOODNESS, AND BEAUTY.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Mulhern President | OfficerTrustee | 2 | $0 |
Philip Tirone Vice Preside | OfficerTrustee | 2 | $0 |
Diane Bishop Secretary | OfficerTrustee | 2 | $0 |
Christofer Pereyra Director | Trustee | 2 | $0 |
Heather Washburn Headmaster | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $384,671 |
| All other contributions, gifts, grants, and similar amounts not included above | $864,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,249,171 |
| Total Program Service Revenue | $7,187,140 |
| Investment income | $6,177 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $61,050 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,971,081 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $105,911 |
| Compensation of current officers, directors, key employees. | $12,881 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,881,667 |
| Pension plan accruals and contributions | $61,377 |
| Other employee benefits | $612,213 |
| Payroll taxes | $306,132 |
| Fees for services: Management | $690,891 |
| Fees for services: Legal | $37 |
| Fees for services: Accounting | $14,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $190,376 |
| Advertising and promotion | $0 |
| Office expenses | $18,508 |
| Information technology | $79,978 |
| Royalties | $0 |
| Occupancy | $1,036,337 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $104,867 |
| Insurance | $0 |
| All other expenses | $363,057 |
| Total functional expenses | $8,675,063 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,016,393 |
| Savings and temporary cash investments | $292,387 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $337,965 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $214,023 |
| Net Land, buildings, and equipment | $772,605 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,633,373 |
| Accounts payable and accrued expenses | $369,767 |
| Grants payable | $0 |
| Deferred revenue | $600 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $229,718 |
| Total liabilities | $600,085 |
| Net assets without donor restrictions | $2,033,288 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,633,373 |