Veritas Classical Academy

Analysis

Veritas Classical Academy is a registered charity in United States, based in Fullerton, CA. It received its IRS tax-exemption ruling in September 2014, 12 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 Classical Academy reported income of $2.0m and spending of $1.7m, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $799k to $2.0m (+156%), an average of +26% a year. The sharpest change came in the year to June 2023, when income rose by 30%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Veritas Classical Academy sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within CA. Charities of a similar size with the same main cause include Compass Points International Incorporated ($2.0m), Burkard School ($2.0m) and Hartford Art School Inc ($2.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 5.7% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $89k (5.1% of expenses). Other salaries and wages came to $922k. At year end it held assets of $890k against liabilities of $0, net assets of $890k. It reported 55 employees.