Veritas Christian Academy Inc

Analysis

Veritas Christian Academy Inc is a registered charity in United States, based in Fletcher, NC. It received its IRS tax-exemption ruling in March 1999, 27 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 $4.1m and spending of $3.9m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.4m to $4.1m (+20%), an average of +4.7% a year. The sharpest change came in the year to June 2021, when income rose by 17%. 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 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 92nd percentile within NC. Charities of a similar size with the same main cause include Lake Champlain Waldorf School ($4.1m), Terrell Academy Inc ($4.1m) and Frankfort Christian Academy Inc ($4.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.3% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $126k (3.2% of expenses). Other salaries and wages came to $2.5m. At year end it held assets of $5.7m against liabilities of $2.1m, net assets of $3.5m. It reported 94 employees.