Verified Solutions

Analysis

Verified Solutions is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in August 2016, 10 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, Verified Solutions reported income of $8.4m and spending of $7.9m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $9.9m to $8.4m (-15%), an average of -4.1% a year. The sharpest change came in the year to June 2022, when income rose by 24%. 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, Verified Solutions sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within TN. Charities of a similar size with the same main cause include Odyssey School Inc ($8.4m), Naca-Inspired Schools Network ($8.4m) and Archway Classical Academy Veritas ($8.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 1.7% of the total. Compensation of current officers, directors and key employees was $447k (5.6% of expenses). Other salaries and wages came to $3.0m. At year end it held assets of $5.8m against liabilities of $971k, net assets of $4.8m. It reported 72 employees.