Veritas Academy Inc

Analysis

Veritas Academy Inc is a registered charity in United States, based in Leola, PA. It received its IRS tax-exemption ruling in September 1997, 29 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 2024, Veritas Academy Inc reported income of $4.8m and spending of $4.2m, spending 88% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $2.5m to $4.8m (+93%), an average of +18% a year. The sharpest change came in the year to June 2021, when income rose by 36%. Over the whole period it spent 84% 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 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 90th percentile within PA. Charities of a similar size with the same main cause include LA Cima Charter School ($4.8m), Skyline Math and Science Academy Inc ($4.8m) and Cheder Chabad - Philadelphia ($4.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 40% and program service revenue 60% of the total. Other salaries and wages came to $2.7m. At year end it held assets of $6.7m against liabilities of $3.2m, net assets of $3.5m. It reported 93 employees.