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Veritas Preparatory School Inc

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Education N.E.C. (NTEE)

Donations to this organization are tax deductible.

Details

According to its June 2023 tax filing, this nonprofit:

Operated a school
Organization is a school. Details are reported on Schedule E.

Summary charts: organization finances over time

Revenue
$1.94M (2023)

Expenses
$1.84M (2023)

Total Assets
$525k (2023)

Total Liabilities
$200k (2023)

Source: Form 990 tax filings from 2013 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending June
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,944,772
Expenses
$1,837,392
Net Income
$107,380
Net Assets
$324,356
Notable Sources of Revenue Percent of Total Revenue
Contributions $123,982
6.4%
Program Services $1,808,624
93.0%
Investment Income $12,166
0.6%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $1,257,032
68.4%
Assets/Debt
Total Assets $524,852
Total Liabilities $200,496
Net Assets $324,356
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Jon Mccord (Headmaster) $96,130 $0 $0
Will Bragdon (Director) $0 $0 $0
Matt Miller (Secretary) $0 $0 $0
Ben Wallace (Chairman) $0 $0 $0

Document Links

Fiscal Year Ending June
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,352,342
Expenses
$1,421,544
Net Income
-$69,202
Net Assets
$216,976
Notable Sources of Revenue Percent of Total Revenue
Contributions $60,428
4.5%
Program Services $1,291,187
95.5%
Investment Income $727
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $96,130
6.8%
Professional Fundraising Fees $0
Other Salaries and Wages $926,892
65.2%
Assets/Debt
Total Assets $383,752
Total Liabilities $166,776
Net Assets $216,976
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Jon Mccord (Headmaster) $96,130 $0 $0
Will Bragdon (Director) $0 $0 $0
Matt Miller (Secretary) $0 $0 $0
Ben Wallace (Chairman) $0 $0 $0

Document Links

Fiscal Year Ending June
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,208,572
Expenses
$1,017,054
Net Income
$191,518
Net Assets
$286,178
Notable Sources of Revenue Percent of Total Revenue
Contributions $191,140
15.8%
Program Services $1,016,468
84.1%
Investment Income $964
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $96,750
9.5%
Professional Fundraising Fees $0
Other Salaries and Wages $627,163
61.7%
Assets/Debt
Total Assets $600,544
Total Liabilities $314,366
Net Assets $286,178
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Jon Mccord (Headmaster) $96,750 $0 $0
Will Bragdon (Director) $0 $0 $0
Rebekah St John (Director) $0 $0 $0
Matt Miller (Secretary) $0 $0 $0
Jenna Storey (Director) $0 $0 $0
Ben Wallace (Chairman) $0 $0 $0

Document Links

Fiscal Year Ending June
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$841,292
Expenses
$809,825
Net Income
$31,467
Net Assets
$94,660
Notable Sources of Revenue Percent of Total Revenue
Contributions $25,503
3.0%
Program Services $813,702
96.7%
Investment Income $2,087
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $94,750
11.7%
Professional Fundraising Fees $0
Other Salaries and Wages $469,504
58.0%
Assets/Debt
Total Assets $353,383
Total Liabilities $258,723
Net Assets $94,660
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Jon Mccord (Headmaster) $94,750 $0 $0
Will Bragdon (Director) $0 $0 $0
Matt Miller (Director) $0 $0 $0
Jenna Storey (Director) $0 $0 $0
Ben Wallace (Chairman) $0 $0 $0
Matt Wireman (Director) $0 $0 $0

Document Links

Fiscal Year Ending June
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$712,492
Expenses
$723,290
Net Income
-$10,798
Net Assets
$63,193
Notable Sources of Revenue Percent of Total Revenue
Contributions $19,110
2.7%
Program Services $690,964
97.0%
Investment Income $2,418
0.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $87,670
12.1%
Professional Fundraising Fees $0
Other Salaries and Wages $429,935
59.4%
Assets/Debt
Total Assets $272,265
Total Liabilities $209,072
Net Assets $63,193
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Jon Mccord (Headmaster) $87,670 $0 $0
Ben Wallace (Chairman) $0 $0 $0
Matt Miller (Director) $0 $0 $0
Matt Wireman (Director) $0 $0 $0
Will Bragdon (Director) $0 $0 $0
Ashley Frisch (Director) $0 $0 $0
Jenna Storey (Director) $0 $0 $0

Document Links

Fiscal Year Ending June
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$539,416
Expenses
$554,310
Net Income
-$14,894
Net Assets
$73,991
Notable Sources of Revenue Percent of Total Revenue
Contributions $37,460
6.9%
Program Services $501,648
93.0%
Investment Income $308
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $83,450
15.1%
Professional Fundraising Fees $0
Other Salaries and Wages $315,125
56.8%
Assets/Debt
Total Assets $206,925
Total Liabilities $132,934
Net Assets $73,991
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Jon Mccord (Headmaster) $83,450 $0 $0
Ben Wallace (Chairman) $0 $0 $0
Matt Miller (Director) $0 $0 $0
Brian Hamby (Director) $0 $0 $0

Document Links

Fiscal Year Ending June
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$522,249
Expenses
$523,175
Net Income
-$926
Net Assets
$88,885
Notable Sources of Revenue Percent of Total Revenue
Contributions $41,266
7.9%
Program Services $480,761
92.1%
Investment Income $222
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $71,333
13.6%
Professional Fundraising Fees $0
Other Salaries and Wages $271,165
51.8%
Assets/Debt
Total Assets $141,520
Total Liabilities $52,635
Net Assets $88,885

Document Links

Fiscal Year Ending June
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$168,968
Expenses
$203,606
Net Income
-$34,638
Net Assets
$89,811
Notable Sources of Revenue Percent of Total Revenue
Contributions $7,768
4.6%
Program Services $161,097
95.3%
Investment Income $103
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $38,334
18.8%
Professional Fundraising Fees $0
Other Salaries and Wages $99,772
49.0%
Assets/Debt
Total Assets $106,275
Total Liabilities $16,464
Net Assets $89,811

Document Links

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$387,268
Expenses
$342,249
Net Income
$45,019
Net Assets
$124,449
Notable Sources of Revenue Percent of Total Revenue
Contributions $55,508
14.3%
Program Services $331,518
85.6%
Investment Income $242
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $65,393
19.1%
Professional Fundraising Fees $0
Other Salaries and Wages $137,022
40.0%
Assets/Debt
Total Assets $124,722
Total Liabilities $273
Net Assets $124,449

Document Links

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from 990-EZ
Revenue
$194,553
Expenses
$179,534
Net Income
$15,019
Net Assets
$79,430
Notable Sources of Revenue Percent of Total Revenue
Contributions $28,048
14.4%
Program Services $166,345
85.5%
Investment Income $160
0.1%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Assets/Debt
Total Assets $83,017
Total Liabilities $3,587
Net Assets $79,430

Document Links

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from 990-EZ
Revenue
$161,236
Expenses
$101,825
Net Income
$59,411
Net Assets
$64,411
Notable Sources of Revenue Percent of Total Revenue
Contributions $87,525
54.3%
Program Services $73,634
45.7%
Investment Income $77
0.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Assets/Debt
Total Assets $66,910
Total Liabilities $2,499
Net Assets $64,411

Document Links

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

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Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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