Veritas Christian Academy Inc

Analysis

Veritas Christian Academy Inc is a registered charity in United States, based in Wayland, MA. It received its IRS tax-exemption ruling in October 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 2023, Veritas Christian Academy Inc reported income of $4.0m and spending of $3.3m, spending 83% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.1m to $4.0m (+93%), an average of +18% a year. The sharpest change came in the year to June 2022, when income rose by 75%. Over the whole period it spent 77% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Veritas Christian Academy Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within MA. Charities of a similar size with the same main cause include Community Christian School of Tallahassee Inc ($4.0m), Yeshiva Ohr Yehuda ($4.0m) and Akiing Community Development Corporation ($4.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 19% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $149k (4.5% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $7.4m against liabilities of $3.0m, net assets of $4.4m. It reported 96 employees.