Veritas Classical Christian School
- Assets
- $25.6m
- Revenue
- $14.6m
- Investments
- $0.0
- Employees
- 142
- Location
- Richmond, VA
- Founding
- 02/2001
- Data as of
- 06/2023
- EIN
- 55-0770184
Organization Overview
Veritas Classical Christian School is located in Richmond, VA. The organization was established in 2001. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2023, Veritas Classical Christian School employed 142 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Veritas Classical Christian School 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 Christian School generated $14.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $10.4m during the year ending 06/2023. While expenses have increased by 10.5% 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
TO PROVIDE CHRIST-CENTERED, ACADEMICALLY ROBUST CLASSICAL EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE CLASSICAL AND CHRISTIAN EDUCATION TO OVER 675 STUDENTS GRADES JK-12; EMPLOYING TEACHERS, UPPER AND LOWER SCHOOL PRINCIPALS, BUSINESS MANAGER, OFFICE MANAGERS, AND DIRECTORS OF ADMISSIONS AND DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Mcclure Chairman | OfficerTrustee | 3 | $0 |
Ed Jones Secretary | OfficerTrustee | 1 | $0 |
Jeff Burkett Treasurer | OfficerTrustee | 1 | $0 |
Anne Creasy Board Member | Trustee | 1 | $0 |
Rebecca Fender Board Member | Trustee | 1 | $0 |
Doug Kinard Board Member | Trustee | 1 | $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 | $4,676,440 |
| Noncash contributions included in lines 1a–1f | $50,666 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,676,440 |
| Total Program Service Revenue | $9,713,971 |
| Investment income | $97,958 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $101,607 |
| Net Gain/Loss on Asset Sales | $378 |
| Net Income from Fundraising Events | $27,797 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,618,151 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,575,118 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $519,862 |
| Compensation of current officers, directors, key employees. | $77,979 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,242,670 |
| Pension plan accruals and contributions | $200,170 |
| Other employee benefits | $443,705 |
| Payroll taxes | $337,525 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $115,324 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,850 |
| Advertising and promotion | $0 |
| Office expenses | $388,400 |
| Information technology | $117,854 |
| Royalties | $0 |
| Occupancy | $673,402 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $304,563 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $622,218 |
| Insurance | $75,081 |
| All other expenses | $0 |
| Total functional expenses | $10,401,228 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $38,439 |
| Savings and temporary cash investments | $6,934,000 |
| Pledges and grants receivable | $942,552 |
| Accounts receivable, net | $89,020 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $12,486 |
| Prepaid expenses and deferred charges | $113,058 |
| Net Land, buildings, and equipment | $16,890,730 |
| Investments—publicly traded securities | $532,704 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,886 |
| Total assets | $25,565,875 |
| Accounts payable and accrued expenses | $71,601 |
| Grants payable | $0 |
| Deferred revenue | $3,068,608 |
| 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 | $7,655,484 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $147,547 |
| Total liabilities | $10,943,240 |
| Net assets without donor restrictions | $10,292,648 |
| Net assets with donor restrictions | $4,329,987 |
| 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 | $25,565,875 |