Friends of Veritas Preparatory Charter School Inc

Analysis

Friends of Veritas Preparatory Charter School Inc is a registered charity in United States, based in Springfield, MA. It received its IRS tax-exemption ruling in September 2011, 15 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Friends of Veritas Preparatory Charter School Inc reported income of $457k and spending of $285k, leaving 38% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income fell from $1.3m to $457k (-65%), an average of -23% a year. The sharpest change came in the year to June 2023, when income dropped by 69%. Over the whole period it spent 82% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of Veritas Preparatory Charter School Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 69th percentile within MA. Charities of a similar size with the same main cause include Hempfield Area Band Parents Association Inc ($457k), Sarah Stitt Hope Fund Inc ($457k) and Rockwall High School Orange Wave Band Boosters ($457k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 36% and program service revenue 64% of the total. At year end it held assets of $5.7m against liabilities of $4.8m, net assets of $883k.