Veritas Preparatory Academy
- Assets
- $2.5m
- Revenue
- $8.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Phoenix, AZ
- Founding
- 02/2003
- Data as of
- 06/2021
- EIN
- 05-0527441
Organization Overview
Veritas Preparatory Academy is located in Phoenix, AZ. The organization was established in 2003. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Veritas Preparatory 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 06/2021, Veritas Preparatory Academy generated $8.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $8.0m during the year ending 06/2021. While expenses have increased by 4.5% per year over the past 6 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
A VERITAS PREPARATORY ACADEMY EDUCATION PREPARES STUDENTS TO BE MORE THAN JUST PROFICIENT TEST TAKERS, BUT RATHER, TO BECOME GREAT-HEARTED LEADERS CAPABLE OF SUCCESS THROUGHOUT THEIR HIGHER EDUCATION AND PROFESSIONAL CAREERS. WITH A CURRICULUM BUILT UPON A CLASSICAL LIBERAL ARTS TRADITION AND A REVOLUTIONARY APPROACH TO SCHOOL ITSELF, GREAT HEARTS CULTIVATES THE HEARTS AND MINDS OF STUDENTS IN THE PURSUIT OF TRUTH, GOODNESS, AND BEAUTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A VERITAS PREPARATORY ACADEMY EDUCATION PREPARES STUDENTS TO BE MORE THAN JUST PROFICIENT TEST TAKERS, BUT RATHER, TO BECOME GREAT-HEARTED LEADERS CAPABLE OF SUCCESS THROUGHOUT THEIR HIGHER EDUCATION AND PROFESSIONAL CAREERS. WITH A CURRICULUM BUILT UPON A CLASSICAL LIBERAL ARTS TRADITION AND A REVOLUTIONARY APPROACH TO SCHOOL ITSELF, GREAT HEARTS CULTIVATES THE HEARTS AND MINDS OF STUDENTS IN THE PURSUIT OF TRUTH, GOODNESS, AND BEAUTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip Tirone Vice Preside | OfficerTrustee | 2 | $0 |
Robert Mulhern President | OfficerTrustee | 2 | $0 |
Diane Bishop Secretary | OfficerTrustee | 2 | $0 |
Heather Washburn Headmaster | Officer | 40 | $0 |
Christofer Pereyra Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $558,187 |
| All other contributions, gifts, grants, and similar amounts not included above | $766,877 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,325,064 |
| Total Program Service Revenue | $6,868,488 |
| Investment income | $111 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $25,495 |
| 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 | $8,349,052 |
| 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. | $100,852 |
| Compensation of current officers, directors, key employees. | $11,166 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,698,907 |
| Pension plan accruals and contributions | $56,105 |
| Other employee benefits | $604,805 |
| Payroll taxes | $289,385 |
| Fees for services: Management | $649,497 |
| Fees for services: Legal | $9,855 |
| Fees for services: Accounting | $10,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $157,384 |
| Advertising and promotion | $0 |
| Office expenses | $17,125 |
| Information technology | $76,116 |
| Royalties | $0 |
| Occupancy | $974,246 |
| Travel | $0 |
| 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 | $91,968 |
| Insurance | $0 |
| All other expenses | $285,511 |
| Total functional expenses | $8,007,503 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,171,150 |
| Savings and temporary cash investments | $352,697 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $257,130 |
| 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 | $131,631 |
| Net Land, buildings, and equipment | $547,831 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,460,439 |
| Accounts payable and accrued expenses | $218,350 |
| 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 | $439,273 |
| Total liabilities | $657,623 |
| Net assets without donor restrictions | $1,768,919 |
| Net assets with donor restrictions | $33,897 |
| 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 | $2,460,439 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Veritas Preparatory Academy has recieved totaling $17,283.
| Awarding Organization | Amount |
|---|---|
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $9,500 |
Acair Foundation Scottsdale, AZ PURPOSE: GENERAL PURPOSE | $5,000 |
Mckesson Foundation Dallas, TX PURPOSE: CHARITABLE | $1,464 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $1,119 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Partnerships To Uplift Communities Los Angeles Burbank, CA | $14,420,401 | $24,912,837 |
Literacy First Charter Schools El Cajon, CA | $29,290,072 | $23,446,904 |
Voices College-Bound Language Academies San Jose, CA | $26,350,864 | $21,078,147 |
Santa Rosa Academy Incorporated Menifee, CA | $46,198,054 | $16,730,823 |
Siatech Inc Oceanside, CA | $9,582,548 | $15,818,647 |
Grow Public Schools Bakersfield, CA | $14,803,093 | $23,549,288 |
Natomas Charter School Sacramento, CA | $32,806,693 | $20,875,289 |
Arizona Community Development Corporation Tucson, AZ | $20,473,547 | $20,902,974 |
Vista Charter Public Schools Los Angeles, CA | $62,725,425 | $20,964,484 |
Roseland Charter School Santa Rosa, CA | $53,872,700 | $25,562,169 |
Ofl William S Hart Inc Pasadena, CA | $11,952,405 | $20,153,084 |
New Designs Charter School Los Angeles, CA | $56,545,069 | $20,507,111 |