Veritas Classical Academy
- Assets
- $381.6k
- Revenue
- $975.6k
- Investments
- $0.0
- Employees
- 57
- Location
- Beaumont, TX
- Founding
- 07/2014
- Data as of
- 12/2021
- EIN
- 46-2170232
Organization Overview
Veritas Classical Academy is located in Beaumont, TX. 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 12/2021, Veritas Classical Academy employed 57 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 12/2021, Veritas Classical Academy generated $975.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.0% each year . All expenses for the organization totaled $888.3k during the year ending 12/2021. While expenses have increased by 11.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
VERITAS CLASSICAL ACADEMY SEEKS TO PARTNER WITH FAMILIES BY PROVIDING A DISTINCTIVE CHRISTIAN EDUCATION, UTILIZING CLASSICAL METHODOLOGY AND CONTENT, WITH A UNIVERSITY-TYPE SCHEDULE. ON-CAMPUS CLASSES MEET TWO DAYS PER WEEK, WITH AT-HOME LEARNING OCCURRING ON ALTERNATING DAYS. VERITAS CLASSICAL ACADEMY OFFERS CLASSES FOR PRE-K THROUGH 12TH GRADE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A PRIVATE SCHOOL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Owens Secretary | Officer | $0 | |
Lindy Merrill Vice Preside | Officer | $0 | |
Lauren Cavett Treasurer | Officer | $0 | |
Tom Owens Chairman Of | Officer | $0 | |
Joshua Cavett Voting Membe | Trustee | $0 | |
Lucy Merrill Voting Membe | Trustee | $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 | $175,366 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $175,366 |
| Total Program Service Revenue | $798,577 |
| 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 | $1,443 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $225 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $975,611 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $630,555 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $49,572 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,055 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,764 |
| Advertising and promotion | $9,165 |
| Office expenses | $618 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $45,377 |
| Travel | $836 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,775 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $33,525 |
| All other expenses | $1,062 |
| Total functional expenses | $888,314 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $342,082 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $1,115 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $38,391 |
| Total assets | $381,588 |
| 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 | $9,503 |
| Total liabilities | $9,503 |
| Net assets without donor restrictions | $344,133 |
| Net assets with donor restrictions | $27,952 |
| 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 | $381,588 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Veritas Classical Academy has recieved totaling $34,519.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $34,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $519 |
Endowment Analysis
| Beg. Balance | $35,362 |
| Earnings | $3,029 |
| Ending Balance | $38,391 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Inspirenola Charter Schools New Orleans, LA | $22,382,887 | $74,884,221 |
Kinkaid School Inc Houston, TX | $122,042,370 | $52,090,713 |
St Johns School Houston, TX | $423,318,238 | $58,605,665 |
Hockaday School Dallas, TX | $327,432,445 | $61,281,462 |
Trinity Basin Preparatory Inc Grand Prairie, TX | $147,305,445 | $57,426,553 |
Greenhill School Addison, TX | $147,490,301 | $53,613,950 |
St Marks School Of Texas Dallas, TX | $307,638,954 | $39,530,532 |
Tlc Academy San Angelo, TX | $61,295,304 | $42,259,776 |
Episcopal School Of Dallas Inc Dallas, TX | $115,874,541 | $40,283,303 |
John Cooper School The Woodlands, TX | $108,804,128 | $40,380,579 |
Fort Worth Country Day School Inc Fort Worth, TX | $119,263,068 | $39,582,011 |
Faith Family Kids Inc Desoto, TX | $30,662,985 | $39,123,210 |