VERITAS ACADEMY 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

1996

Legal Domicile

Principal Officer

KEVIN REAM

Phone

7175560690

Tax Period

2023-07-01 to 2024-06-30

VERITAS ACADEMY INC, founded in 1996, is a community nonprofit in the Education sector that reported $4.8M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $4.2M left a modest 12% surplus.

Mission

EDUCATING STUDENTS IN GRADES K-12 USING THE CLASSICAL CHRISTIAN EDUCATION METHOD.

Program Service Accomplishments

Program 1

Expenses: $3,541,845 Revenue: $2,884,397

OUR SCHOOLS MISSION IS TO CULTIVATE LOVING, SERVING, AND THINKING STUDENTS THROUGH CLASSICAL CHRISTIAN EDUCATION. OUR SALARIES THAT WE PAY OUR DEDICATED STAFF, OUR MARKETING, FIELD TRIPS, EXTRA...

OUR SCHOOLS MISSION IS TO CULTIVATE LOVING, SERVING, AND THINKING STUDENTS THROUGH CLASSICAL CHRISTIAN EDUCATION. OUR SALARIES THAT WE PAY OUR DEDICATED STAFF, OUR MARKETING, FIELD TRIPS, EXTRA CURRICULAR ACTIVITIES, AND THE LUNCH PROGRAM ARE JUST SEVERAL WAYS THAT WE STRIVE TO ACCOMPLISH OUR MISSION.

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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 $1,931,950

Program Service Revenue $2,884,397

Investment Income $3,536

Other Revenue $0

TOTAL REVENUE $4,819,883

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,899,591

Fundraising Expenses $331,746

Program Expenses $3,541,845

Other Expenses $1,336,959

TOTAL EXPENSES $4,236,550

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,819,883	$4,273,600	+0.1%
Expenses	$4,236,550	$3,720,204	+0.1%
Net Income	$583,333	$553,396	+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

345

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TYLER FISCHER	HEAD OF SCHO	40.00	Highest	$131,350	$0	$131,350
DAN SPANJER	PRINCIPAL/TE	40.00	Highest	$109,479	$0	$109,479
JONATHAN DAUGHTREY	DIRECTOR OF	40.00	Highest	$107,193	$0	$107,193
DAVID AUNGST	VICE CHAIR	N/A	Officer Director	$0	$0	$0
BRETT BAUER	TREASURER	N/A	Officer Director	$0	$0	$0
BRAD BROSSMAN	BOARD MEMBER	N/A	Director	$0	$0	$0
CHARLES HEATH	SECRETARY	N/A	Officer Director	$0	$0	$0
SUSAN MCKNIGHT	BOARD MEMBER	N/A	Director	$0	$0	$0
KEVIN REAM	CHAIRMAN	N/A	Officer Director	$0	$0	$0
JONATHAN WALTERS	BOARD MEMBER	N/A	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	$4,819,883	$4,236,550	$6,697,637	$583,333
2023	$4,273,600	$3,720,204	$6,159,185	$553,396
2022	$3,545,855	$2,954,906	$5,666,078	$590,949
2021	$3,403,646	$2,453,496	$4,461,777	$950,150
2020	$2,498,533	$2,191,942	$1,147,098	$306,591
2019	$2,199,575	$2,139,449	$575,490	$60,126