Veritas Montessori Academy

Analysis

Veritas Montessori Academy is a registered charity in United States, based in Katy, TX. It received its IRS tax-exemption ruling in May 2019, 7 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 Montessori Academy reported income of $230k and spending of $279k, spending 121% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $229k to $230k (+0.8%), an average of +0.4% a year. The sharpest change came in the year to December 2022, when income rose by 42%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Veritas Montessori Academy sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 61st percentile within TX. Charities of a similar size with the same main cause include Ilmunc ($230k), Bright Spot Child Care Inc ($230k) and National Flooring Contractors Apprenticeship Program Inc ($230k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 20% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $146k (52% of expenses). Other salaries and wages came to $444. At year end it held assets of $32k against liabilities of $0, net assets of $32k.