Veritas Academy Inc

Analysis

Veritas Academy Inc is a registered charity in United States, based in Savannah, GA. It received its IRS tax-exemption ruling in December 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 December 2023, Veritas Academy Inc reported income of $1.4m and spending of $1.5m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.4m (+24%), an average of +5.5% a year. The sharpest change came in the year to December 2020, when income rose by 20%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Veritas Academy Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 86th percentile within GA. Charities of a similar size with the same main cause include Hadar South Florida High School for Girls Inc ($1.4m), Moadon Kol Chadash ($1.4m) and Commission Leadership Academy ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $1.1m. At year end it held assets of $663k against liabilities of $168k, net assets of $495k. It reported 53 employees.