Veritas Classical Christian School
- Assets
- $20.4m
- Revenue
- $9.9m
- Investments
- $0.0
- Employees
- 124
- Location
- Richmond, VA
- Founding
- 02/2001
- Data as of
- 06/2021
- 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 06/2021, Veritas Classical Christian School employed 124 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 06/2021, Veritas Classical Christian School generated $9.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $8.6m during the year ending 06/2021. While expenses have increased by 10.6% 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
TO PROVIDE CHRIST-CENTERED,ACADEMICALLY ROBUST CLASSICAL EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE CLASSICAL AND CHRISTIAN EDUCATION TO 622 STUDENTS GRADES K-12; EMPLOYING 94 PEOPLE INCLUDING 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 |
|---|---|---|---|
W Keith Nix Head Of School | Officer | 50 | $278,199 |
Brian Wilcox Chief Business Officer | Officer | 50 | $120,831 |
Andrew Smith Dean Of Academics | 40 | $107,369 | |
Elizabeth Butler Chairman | OfficerTrustee | 3 | $0 |
Steve Godfrey Secretary | OfficerTrustee | 1 | $0 |
Michael Mcclure Treasurer | OfficerTrustee | 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 | $1,353,064 |
| Noncash contributions included in lines 1a–1f | $133,744 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,353,064 |
| Total Program Service Revenue | $8,398,916 |
| Investment income | $7,949 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $107,468 |
| Net Gain/Loss on Asset Sales | -$705 |
| Net Income from Fundraising Events | $9,883 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,876,575 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $994,063 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $399,031 |
| Compensation of current officers, directors, key employees. | $59,855 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,822,526 |
| Pension plan accruals and contributions | $192,464 |
| Other employee benefits | $730,180 |
| Payroll taxes | $302,593 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,932 |
| Advertising and promotion | $0 |
| Office expenses | $171,523 |
| Information technology | $134,604 |
| Royalties | $0 |
| Occupancy | $524,189 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $340,600 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $449,168 |
| Insurance | $92,461 |
| All other expenses | $0 |
| Total functional expenses | $8,561,824 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $166,319 |
| Savings and temporary cash investments | $4,733,689 |
| Pledges and grants receivable | $27,783 |
| Accounts receivable, net | $9,407 |
| 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 | $70,067 |
| Net Land, buildings, and equipment | $15,430,836 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,174 |
| Total assets | $20,443,275 |
| Accounts payable and accrued expenses | $163,485 |
| Grants payable | $0 |
| Deferred revenue | $2,715,412 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $1,385,000 |
| Secured mortgages and notes payable | $6,970,183 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $39,032 |
| Total liabilities | $11,273,112 |
| Net assets without donor restrictions | $7,777,868 |
| Net assets with donor restrictions | $1,392,295 |
| 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 | $20,443,275 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Veritas Classical Christian School has recieved totaling $214,399.
| Awarding Organization | Amount |
|---|---|
Servant Foundation Overland Park, KS PURPOSE: EDUCATION | $201,500 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $11,750 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $1,149 |
Endowment Analysis
| Beg. Balance | $264,993 |
| Earnings | $11,401 |
| Net Contributions | $69,573 |
| Other Expense | $11,401 |
| Ending Balance | $334,566 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Heights Inc Potomac, MD | $28,496,015 | $21,762,530 |
The Foundation Schools Largo, MD | $16,377,358 | $19,826,112 |
Carolina Day School Inc Asheville, NC | $29,412,889 | $19,874,947 |
Annapolis Area Christian School Association Inc Severn, MD | $29,091,894 | $17,563,578 |
Norwood School Inc Bethesda, MD | $57,964,554 | $24,196,645 |
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 |
Christian Academy Of Knoxville Inc Knoxville, TN | $16,374,308 | $19,411,697 |
Cornerstone Academy Inc Morristown, TN | $83,376,022 | $25,507,605 |
Lowell School Inc Washington, DC | $42,214,480 | $16,545,938 |