VERITAS ACADEMY (EIN 263751359) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1996

Legal Domicile

Principal Officer

RICHARD HORNOK

Phone

9032785643

Tax Period

2019-07-01 to 2020-06-30

VERITAS ACADEMY, founded in 1996, is a small nonprofit in the Education sector that reported $166K in total revenue in fiscal year 2019. Revenue fell 72% from the prior year — a significant decline worth monitoring. Expenses of $226K exceeded revenue, resulting in a 36% operating deficit.

Mission

THE PRIMARY EXEMPT PURPOSE OF THE CORPORATION IS TO OPERATE A SCHOOL (KINDERGARTEN THROUGH 12TH GRADE), THAT CLOSELY ADHERES TO THE STATEMENT OF FAITH AND PURPOSE AS SET OUT IN SECTIONS 1 AND 2 OF ARTICLE II OF THE CORPORATIONS BY LAWS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2019)

Revenue Breakdown

Contributions & Grants $16,690

Program Service Revenue $148,806

Investment Income $72

Other Revenue $0

TOTAL REVENUE $165,568

Expense Breakdown

Grants Paid $0

Salaries & Benefits $155,357

Fundraising Expenses $0

Program Expenses $225,752

Other Expenses $70,395

TOTAL EXPENSES $225,752

Year-over-Year Comparison

	2019	2018	Change
Revenue	$165,568	$598,396	-0.7%
Expenses	$225,752	$180,452	+0.3%
Net Income	$-60,184	$417,944	-1.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

$48,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOE BEN HOUSE	HEADMASTER	40.00	Director	$48,000	$0	$48,000
JON CARNES	BOARD CHAIRM	2.00	Officer Director	$0	$0	$0
RICHARD HORNOK	BOARD SECRET	2.00	Officer Director	$0	$0	$0
KAY MCCRAW	DIRECTOR	2.00	Director	$0	$0	$0
CHANSE MCGUIRE	DIRECTOR	2.00	Director	$0	$0	$0
PAULA MCGUIRE	DIRECTOR	2.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2020	$165,568	$225,752	$533,623	$-60,184
2019	$598,396	$180,452	$584,277	$417,944

VERITAS ACADEMY