Veritas College Preparatory Leadership Academy

Analysis

Veritas College Preparatory Leadership Academy is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in January 2010, 16 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Veritas College Preparatory Leadership Academy reported income of $2.4m and spending of $2.4m, spending 98% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.9m to $2.4m (+31%), an average of +7.0% a year. The sharpest change came in the year to June 2023, when income rose by 53%. Over the whole period it spent 89% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Veritas College Preparatory Leadership Academy sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within TN. Charities of a similar size with the same main cause include Library Company of Philadelphia ($2.4m), Premier-Career Success ($2.5m) and Ready Set Grow Inc ($2.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $433k (18% of expenses). Other salaries and wages came to $920k. At year end it held assets of $1.9m against liabilities of $467k, net assets of $1.4m. It reported 24 employees.