VERITAS PREPARATORY SCHOOL INC

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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

2012

Legal Domicile

Principal Officer

BEN WALLACE

Phone

8643200095

Tax Period

2023-07-01 to 2024-06-30

VERITAS PREPARATORY SCHOOL INC, founded in 2012, is a community nonprofit in the Education sector that reported $2.5M in total revenue in fiscal year 2023. Revenue surged 30% from the prior year, signaling strong growth momentum. The organization ran a surplus of $466K, a strong 19% operating margin.

Mission

TO PROVIDE A QUALITY EDUCATION FOR CHILDREN WHILE ENABLING PARENTS TO BE ACTIVELY ENGAGED IN THE EDUCATION PROCESS.

Program Service Accomplishments

Program 1

Expenses: $1,747,552 Revenue: $2,226,146

EDUCATION OF CHILDREN THROUGH ACADEMIC INSTRUCTION, SPIRITUAL DEVELOPMENT, AND TRAINING PARENTS TO BE EFFECTIVE EDUCATORS AT HOME.

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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 (2023)

Revenue Breakdown

Contributions & Grants $254,140

Program Service Revenue $2,226,146

Investment Income $38,549

Other Revenue $0

TOTAL REVENUE $2,518,835

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,564,798

Fundraising Expenses $9,000

Program Expenses $1,747,552

Other Expenses $487,900

TOTAL EXPENSES $2,052,698

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,518,835	$1,944,772	+0.3%
Expenses	$2,052,698	$1,837,391	+0.1%
Net Income	$466,137	$107,381	+3.3%

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

N/A

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

$122,334

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JON MCCORD	HEADMASTER	40.00	Officer	$122,334	$0	$122,334
WILL BRAGDON	DIRECTOR	1.00	Director	$0	$0	$0
BOB INGRAM	DIRECTOR	1.00	Director	$0	$0	$0
MATT MILLER	SECRETARY	1.00	Officer Director	$0	$0	$0
BEN WALLACE	CHAIRMAN	3.00	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	No data	No data	No data	No data
2024	$2,518,835	$2,052,698	$1,052,408	$466,137
2023	$1,944,772	$1,837,392	$524,852	$107,380
2022	$1,352,342	$1,421,544	$383,752	$-69,202
2021	$1,208,572	$1,017,054	$600,544	$191,518
2020	$841,292	$809,825	$353,383	$31,467
2019	$712,492	$723,290	$272,265	$-10,798