Veritas Christian Academy Inc
- Assets
- $5.6m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 114
- Location
- Fletcher, NC
- Founding
- 03/1999
- Data as of
- 06/2022
- EIN
- 56-2089482
Organization Overview
Veritas Christian Academy Inc is located in Fletcher, NC. The organization was established in 1999. 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 06/2022, Veritas Christian Academy Inc employed 114 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 06/2022, Veritas Christian Academy Inc generated $3.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $3.4m during the year ending 06/2022. While expenses have increased by 0.2% 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
INTELLIGENT FAITH: EQUIPPING MINDS AND ENGAGING HEARTS FOR GOD'S KINGDOM PURPOSES. PLEASE SEE OUR WEBSITE FOR OUR PHILOSOPHY AND ADDITIONAL INFORMATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE FISCAL YEAR, THE SCHOOL WAS ATTENDING BY 342 STUDENTS PRE-KINDEGARTEN THROUGH FIFTH GRADE: 191 SIXTH GRADE THROUGH EIGHTH GRADE: 79 NINTH GRADE THROUGH TWELTH GRADE: 72
SALT & LIGHT PROVIDES THE STUDENTS WITH THE OPPORTUNITY TO PUT SERVANT LEADERSHIP INTO PRACTICE - APPLYING WHAT THEY HAVE LEARNED IN THE CLASSROOM AND IN CHAPEL IN A PRACTICAL MEANINGFUL WAY. MORE THAN 300 STUDENTS, ALONG WITH FACULTY AND PARENT VOLUNTEERS SPEND THE DAY HELPING 14 COMMUNITY ORGANIZATIONS -- A VERY REWARDING, ENRICHING DAY FOR THE STUDENTS AND THE PEOPLE THEY ASSIST. THE STUDENTS BENEFIT AS THEY SEE DIRECTLY HOW A LIFE THAT INCLUDES VOLUNTEERISM CAN BE RICH AND REWARDING FOR THEM AND THE COMMUNITY ORGANIZATIONS THAT THEY SERVE.
FOR MORE THAN TWENTY YEARS, VERITAS HAS BEEN FAITHFULLY STRIVING TO MAINTAIN THE HIGH STANDARD SET AND FULFILL THE GOALS ESTABLISHED AT ITS FOUNDING. WE HAVE SOUGHT TO BE FAITHFUL STEWARDS. AFTER MUCH PRAYING AND PLANNING, WE BEGAN WORKING ON THE GOAL OF A NEW GRAMMAR SCHOOL CLASSROOM BUILDING TO REPLACE MODULAR UNIT CURRENTLY IN USE. IN 2021-22 VERITAS SELECTED A CONSTRUCTION COMPANY AND STARTED A CAPITAL CAMPAIGN TO RAISE FUNDS FOR THE PROJECT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Robert Woods School Headmaster | Officer | 40 | $127,849 |
Dr Gary Prechter Chair | OfficerTrustee | 5 | $0 |
Mark Muir Treasurer | OfficerTrustee | 3 | $0 |
Dr Chris Meyer Secretary | OfficerTrustee | 2 | $0 |
Rev Anthony Craver Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $103,064 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $162,009 |
| Noncash contributions included in lines 1a–1f | $89,264 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $265,073 |
| Total Program Service Revenue | $3,505,573 |
| Investment income | $280 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,708 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$16,429 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,762,205 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $43,600 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $121,322 |
| Compensation of current officers, directors, key employees. | $66,728 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,090,009 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $86,283 |
| Payroll taxes | $155,781 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $900 |
| Fees for services: Accounting | $22,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,629 |
| Fees for services: Other | $45 |
| Advertising and promotion | $9,941 |
| Office expenses | $55,033 |
| Information technology | $27,188 |
| Royalties | $0 |
| Occupancy | $243,315 |
| Travel | $20,226 |
| 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 | $92,129 |
| Insurance | $64,529 |
| All other expenses | $135,199 |
| Total functional expenses | $3,379,723 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $134,395 |
| Savings and temporary cash investments | $1,000,991 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $53,997 |
| 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 | $14,521 |
| Net Land, buildings, and equipment | $4,410,268 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,755 |
| Total assets | $5,617,927 |
| Accounts payable and accrued expenses | $40,252 |
| Grants payable | $0 |
| Deferred revenue | $47,782 |
| 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 | $2,151,748 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,239,782 |
| Net assets without donor restrictions | $3,276,216 |
| Net assets with donor restrictions | $101,929 |
| 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 | $5,617,927 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Veritas Christian Academy Inc has recieved totaling $49,669.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $15,106 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $10,000 |
Stover Foundation 09-19-96 Annapolis, MD PURPOSE: TO FURTHER CHRISTIAN EDUCATION | $10,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $8,000 |
The Community Foundation Of Western North Carolina Inc Asheville, NC PURPOSE: IMPROVING EDUCATIONAL OPPORTUNITIES | $6,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $563 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trinity School Inc Atlanta, GA | $133,203,671 | $25,058,941 |
Hammond School Columbia, SC | $54,753,815 | $20,190,119 |
Carolina Day School Inc Asheville, NC | $29,412,889 | $19,874,947 |
Republic Schools Nashville Nashville, TN | $31,048,580 | $24,002,902 |
Congressional School Inc Falls Church, VA | $21,870,095 | $18,184,082 |
Nansemond-Suffolk Academy Association Incorporated Suffolk, VA | $19,895,333 | $17,664,822 |
Summit School Inc Winstonsalem, NC | $46,496,346 | $18,682,492 |
North Cobb Christian School Inc Kennesaw, GA | $44,288,708 | $22,180,039 |
Christian Academy Of Knoxville Inc Knoxville, TN | $16,374,308 | $19,411,697 |
Cornerstone Academy Inc Morristown, TN | $83,376,022 | $25,507,605 |
Piedmont Community Charter School Gastonia, NC | $39,263,540 | $16,321,598 |
Franklin Academy Inc Wake Forest, NC | $23,533,490 | $17,154,874 |