VERITAS BAPTIST COLLEGE INC (EIN 272918042) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2010

Legal Domicile

Principal Officer

MIKE LESTER

Tax Period

2024-07-01 to 2025-06-30

VERITAS BAPTIST COLLEGE INC, founded in 2010, is a community nonprofit in the Education sector that reported $1.8M in total revenue in fiscal year 2024. Revenue surged 28% from the prior year, signaling strong growth momentum. Expenses of $1.7M left a modest 3% surplus.

Mission

VERITAS BAPTIST COLLEGE EXISTS TO EQUIP MEN AND WOMEN FOR DYNAMIC CHRISTIAN SERVICE AND LEADERSHIP IN BIBLE-BELIEVING CHURCHES BY PROVIDING HIGHER EDUCATION THAT EMPHASIZES ACADEMIC EXCELLENCE, SPIRITUAL DEVELOPMENT, AND PREPARATION FOR MINISTRY, BOTH LAY AND PROFESSIONAL.

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Trantor Score

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

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $109,174

Program Service Revenue $1,648,345

Investment Income $15,482

Other Revenue $651

TOTAL REVENUE $1,773,652

Expense Breakdown

Grants Paid $271,208

Salaries & Benefits $987,114

Fundraising Expenses $50,094

Program Expenses $1,221,168

Other Expenses $457,235

TOTAL EXPENSES $1,715,557

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,773,652	$1,382,284	+0.3%
Expenses	$1,715,557	$1,317,694	+0.3%
Net Income	$58,095	$64,590	-0.1%

Key Indicators

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

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Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

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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

$152,959

Total Directors

$85,847

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE LESTER	PRESIDENT	40.00	Officer Director	$85,847	$0	$85,847
SHERRY DAVIS	CFO	40.00	Officer	$67,112	$0	$67,112
BRENT ARMSTRONG	DIRECTOR	1.00	Director	$0	$0	$0
KENNY BALDWIN	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW BUNNELL	DIRECTOR	1.00	Director	$0	$0	$0
JAMISON COPPOLA	DIRECTOR	1.00	Director	$0	$0	$0
CATHY DOTSON	DIRECTOR	1.00	Director	$0	$0	$0
TIM RABON	DIRECTOR	1.00	Director	$0	$0	$0
MIKE REID	VICE CHAIRMA	1.00	Officer Director	$0	$0	$0
KURT SKELLY	CHAIRMAN	1.00	Officer 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
2025	$1,773,652	$1,715,557	$768,797	$58,095
2024	$1,382,284	$1,317,694	$660,060	$64,590
2023	$1,109,374	$1,217,419	$552,820	$-108,045
2022	$1,024,760	$1,137,282	$617,304	$-112,522
2021	$1,133,275	$1,008,814	$729,481	$124,461
2020	$1,092,340	$980,262	$719,479	$112,078

VERITAS BAPTIST COLLEGE INC