Veritas Christian Academy Inc
- Assets
- $863.9k
- Revenue
- $756.6k
- Investments
- $0.0
- Employees
- 23
- Location
- Augusta, NJ
- Founding
- 05/2002
- Data as of
- 06/2021
- EIN
- 22-3847447
Organization Overview
Veritas Christian Academy Inc is located in Augusta, NJ. The organization was established in 2002. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2021, Veritas Christian Academy Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Veritas Christian Academy Inc 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 06/2021, Veritas Christian Academy Inc generated $756.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.9%) each year. All expenses for the organization totaled $736.0k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (4.3%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO TRAIN THE MINDS, DEVELOP THE CHRISTIAN CHARACTER, AND ENRICH THE SPIRITUAL LIVES OF IT'S STUDENTS THROUGH QUALITY ACADEMIC PROGRAMS AND EXTRA-CURRICULAR ACTIVITIES, AND TO GLORIFY GOD BY PRESENTING A BIBLICAL WORLD VIEW IN A CHRIST-CENTERED ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS DEVELOPING A CHRISTIAN SCHOOL WHICH TRAINS STUDENTS MINDS, DEVELOPS CHARACTER, AND ENRICHES SPIRITUAL LIVES THROUGH QUALITY ACADEMIC PROGRAMS AND EXTRA-CURRICULAR ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Argersinger Principal/ Administrator | Officer | 40 | $51,000 |
Paul Vincenti President | Officer | 5 | $0 |
Eric Wilson Treasurer/secretary | Officer | 5 | $0 |
Armand Milanesi Fundraising Committee Chai | Trustee | 5 | $0 |
David Vandergroef Project Development/facili | Trustee | 5 | $0 |
Eric Thiessen Trustee | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $33,760 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $95,803 |
| Noncash contributions included in lines 1a–1f | $7,836 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $129,563 |
| Total Program Service Revenue | $622,147 |
| Investment income | $20 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $756,580 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $78,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $94,120 |
| Compensation of current officers, directors, key employees. | $18,824 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $326,938 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $28,341 |
| Payroll taxes | $34,589 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,433 |
| Advertising and promotion | $6,042 |
| Office expenses | $11,380 |
| Information technology | $11,417 |
| Royalties | $0 |
| Occupancy | $92,000 |
| Travel | $361 |
| 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 | $234 |
| Insurance | $10,179 |
| All other expenses | $974 |
| Total functional expenses | $736,018 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $68,029 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,216 |
| 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 | $0 |
| Net Land, buildings, and equipment | $779,954 |
| Investments—publicly traded securities | $7,728 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $863,927 |
| Accounts payable and accrued expenses | $18,257 |
| Grants payable | $0 |
| Deferred revenue | $7,725 |
| 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 | $0 |
| Total liabilities | $25,982 |
| Net assets without donor restrictions | $746,821 |
| Net assets with donor restrictions | $91,124 |
| 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 | $863,927 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Veritas Christian Academy Inc has recieved totaling $3,500.
| Awarding Organization | Amount |
|---|---|
Columbia Bank Foundation Fair Lawn, NJ PURPOSE: CHARITABLE GIVING | $2,500 |
Columbia Bank Foundation Fair Lawn, NJ PURPOSE: VCA ANNUAL BANQUET - 5/20/21 - PLATINUM SPONSOR | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Braverhood Ltd Brooklyn, NY | $56,044,966 | $113,467,057 |
Chevron Phillips Chemical Co Lp Health & Benefit Tr Veba Pittsburgh, PA | $15,880,618 | $77,964,861 |
Coordinated Behavioral Care Inc New York, NY | $25,699,878 | $79,934,258 |
Success Academy Charter Schools Inc New York, NY | $162,966,057 | $99,368,525 |
Inspirittec Inc Philadelphia, PA | $65,630,872 | $75,964,924 |
Baker Hall Lackawanna, NY | $43,415,308 | $53,649,609 |
Pennsylvania Virtual Charter School King Of Prussia, PA | $24,898,829 | $49,068,085 |
Tiegerman School Glen Cove, NY | $36,938,898 | $36,850,171 |
Teach For All Inc New York, NY | $63,275,692 | $50,938,774 |
Pay It Forward Foundation Inc Pittsburgh, PA | $11,909,629 | $29,731,720 |
Lifesteps Inc Butler, PA | $25,871,848 | $32,536,752 |
Lsny Bronx Corporation New York, NY | $9,256,880 | $24,578,698 |