Veritas Classical Academy
- Assets
- $890.0k
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 55
- Location
- Fullerton, CA
- Founding
- 09/2014
- Data as of
- 06/2023
- EIN
- 46-0659218
Organization Overview
Veritas Classical Academy is located in Fullerton, CA. The organization was established in 2014. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2023, Veritas Classical Academy employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Veritas Classical 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 06/2023, Veritas Classical Academy generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 27.9% each year . All expenses for the organization totaled $1.7m during the year ending 06/2023. While expenses have increased by 24.6% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUT MISSION IS TO DISCIPLE OUR STUDENTS TO DELIGHT, DISCERN, AND DISPLAY THE GLORY OF GOD IN JESUS CHRIST THROUGH CLASSICAL, CHRISTIAN EDUCATION. IT EMPHASIZES CULTIVATING WONDER, CRITICAL THINKING SKILLS, AND PAIDEIA CULTURE, AND CHRISTIAN WORLDVIEW THINKING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLASSICAL CHRISTIAN EDUCATION IS DONE AND IT IS THE BIBLICAL APPROPRIATION OF A TIME-TESTED METHOD OF TEACHING KNOWN AS THE TRIVIUM, WHICH REFERS TO THE THREE STAGES (OR WAYS) OF LEARNING: GRAMMAR, LOGIC AND RHETORIC. THESE STAGES COINCIDE WITH A CHILDS COGNITIVE DEVELOPMENT AS HE MATURES. THIS MODEL DEVELOPS CRITICAL THINGKING SKILLS AND ENGAGES A STUDENTS NATURALLY CURIOSITY SO THAT HE LEARNS HOW TO LEARN, ALLOWING HIM TO BECOME A LIFELONG LEARNER. THIS METHOD HAS BEEN PRACTICED SINCE THE ANCIENT TIMES. IT HAS PRODUCED SOME OF THE GREATEST LEADERS OF HISTORY INCLUDING THE FOUNDING FATHERS OF USA. CLASSICAL EDUCATION EMPHASIZES LEARNING FROM THE CLASSICS. IT STANDS ON THE CONVICTION THAT GOD HAS PROVIDENTIALLY GUIDED HISTORY AND THAT THE RICHES OF GODS GLORY CAN BE GAINED FROM EVERY AGE CULMINATING IN JESUS CHRIST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Kim President | OfficerTrustee | 40 | $65,510 |
Matthew Smith Director | Trustee | 0 | $0 |
Justin Choi Director | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $115,610 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $115,610 |
| Total Program Service Revenue | $1,925,884 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $3,039 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,044,533 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,440 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $89,391 |
| Compensation of current officers, directors, key employees. | $89,391 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $922,162 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $81,922 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,209 |
| Fees for services: Accounting | $2,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $171,872 |
| Advertising and promotion | $1,624 |
| Office expenses | $6,200 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $171,749 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,570 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,688 |
| Insurance | $17,779 |
| All other expenses | $101,645 |
| Total functional expenses | $1,742,552 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $856,760 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,815 |
| 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 | $8,668 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,800 |
| Total assets | $890,043 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $890,043 |
| 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 | $890,043 |