Veritas Academy FY2021 filing

Tax-deductible

Austin, TX501(c)(3)Since 2004EducationEIN 20-1632745Revenue $7.5M in FY2021

On file with the IRSveritasacademy.net13401 Escarpment Blvd, 78739-1548 · Austin, TXTax-exempt since Aug 2005School — 170(b)(1)(A)(ii)

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The mission of Veritas Academy is to partner with christian parents to provide their children with a classical christian education for the lifelong pursuit of wisdom and virtue in the service of jesus christ for the glory of god. Its collaborative approach integrates professional instruction with parent-mentored study and discipleship to cultivate genuine faith in christ, godly virtue, and excellence in academics and workmanship.

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
$248K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $1.6M a year · 18% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$248K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 3.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$11.6M
61% of total assets
Fine: liabilities are 61% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
4
of 10 voting members
Worth a look: 4 of 10 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.5M
+31% vs prior year
Spent
$6.4M
To programs
80%
Net assets
$7.4M
By yearFY2020–FY2025
Revenue
$7.5M
FY2021▲ +31%
Tap a bar for its year
Revenue by fiscal year
FY2020$5.7M
FY2021$7.5M
FY2022$7.5M
FY2023$9.5M
FY2024$14.2M
FY2025$11.2M
Expenses
$6.4M
FY2021▲ +2%
Tap a bar for its year
Expenses by fiscal year
FY2020$6.2M
FY2021$6.4M
FY2022$7.2M
FY2023$8.1M
FY2024$8.7M
FY2025$9.1M
Net assets
$7.4M
FY2021▲ +17%
Tap a bar for its year
Net assets by fiscal year
FY2020$6.3M
FY2021$7.4M
FY2022$7.7M
FY2023$9.7M
FY2024$15.3M
FY2025$17.6M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2005.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $5.1M Management & general 20% · $1.3M Fundraising 1% · $33K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990; $248K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Head of School/School Board Member
$138,953Pt VII · Sec A
School Board Member/Administrator
$75,161Pt VII · Sec A
School Board Member/Secretary/Staff
$10,378Pt VII · Sec A
Board of Trustees Member
$10,045Pt VII · Sec A
School Board Member/Teacher
$9,798Pt VII · Sec A
School Board Member/Teacher
$3,337Pt VII · Sec A
School Board Chairman/Teacher
$325Pt VII · Sec A
School Board/Treasurer
$0Pt VII · Sec A

Cameron Cook’s $159K as Head of School is at the 19th percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Jef Fowler—$110,697$167,944$140,328$138,953$138,278
Cameron Cook$158,755$120,927————
Troy Schuknecht———$109,413——
Jonathan Hatfield$107,849$102,148————
Starrla Fowler—$46,446$83,706$85,313$75,161$74,789
Scott Rhodes$66,772$52,365————
Monica Scantlen$31,249$15,407$2,462———
Molly Ingram$24,815$12,761$10,890$9,012$10,378$13,897

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates preschool through 12th grade students from Christian families using a classical Christian approach.

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Provided by the organization

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1 program · $5.1M · in their own filed words · FY2020
01

The school provides a university-model approach to education that integrates professional instruction with parent-mentored study.

$5.1Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$10K
Grants paid · 5 grants · $2.2M · 2020–2024
Unitemized GrantFY2024$498,940
Unitemized GrantFY2023$470,985
Unitemized GrantFY2022$432,041
Unitemized GrantFY2021$413,715
Unitemized GrantFY2020$374,727

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$7.5M
Ln 12
Fees for servicesLn 2g$6.4M
Gifts and grantsLn 1h$1.0M
Other incomeLn 4–11$57K
Money outPt IX
$6.4M
Ln 25
Programscol B$5.1M
Managementcol C$1.3M
Fundraisingcol D$33K
Owns and owesPt X
$7.4M
net assets · Ln 32
Cash and savingsLn 1–2$2.1M
Total assetsLn 16$19.0M
LiabilitiesLn 26$11.6M
PeoplePt VI, VII
11
listed · VII A
PaidVII A7
Voting boardVI 1a10
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.0M
Government grantsLn 1e$650K
Noncash giftsLn 1g$15K
Fundraising eventsLn 1c$41K
Fees for servicesLn 2g$6.4M
Investment incomeLn 3$46
Other incomeLn 4–11$57K
Gains on assetsLn 7$0
Total revenueLn 12$7.5M
Assets in detailPt X, end of year
CashLn 1$2.0M
SavingsLn 2$106K
Cash and savings togetherLn 1–2$2.1M
Land, buildings, equipmentLn 10c$16.7M
Other assetsLn 15$29K
Total assetsLn 16$19.0M
LiabilitiesLn 26$11.6M
Net assetsLn 32$7.4M
OperationsPt I, VI
EmployeesI 5282
VolunteersI 6100
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$1.4M$2.1M
Land, buildings, equipmentLn 10c$17.1M$16.7M
Total assetsLn 16$18.8M$19.0M
LiabilitiesLn 26$12.6M$11.6M
Net assetsLn 32$6.3M$7.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$375K$375K
Pay of current officers, directors and key staffLn 5$274K$218K$53K$3K
Other salaries and wagesLn 7$2.9M$2.3M$555K$27K
Other employee benefitsLn 9$150K$119K$29K$1K
Payroll taxesLn 10$245K$195K$48K$2K
Accounting feesLn 11c$15K$15K
Advertising and promotionLn 12$9K$9K
Information technologyLn 14$99K$70K$29K
OccupancyLn 16$258K$258K
TravelLn 17$72K$72K
Conferences, conventions and meetingsLn 19$38K$38K
InterestLn 20$370K$370K
Depreciation, depletion and amortizationLn 22$714K$678K$36K
InsuranceLn 23$80K$76K$4K
Other expenses (24a–d)Ln 24$692K$644K$48K
All other expensesLn 24e$121K$53K$69K
Total functional expensesLn 25$6.4M$5.1M$1.3M$33K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $11.2M$9.1M$2.2M$17.6M 990 PDF
FY2024 $14.2M$8.7M$5.5M$15.3M 990 PDF
FY2023 $9.5M$8.1M$1.4M$9.7M 990 PDF
FY2022 $7.5M$7.2M$340K$7.7M 990 PDF
FY2021 Viewing $7.5M$6.4M$1.1M$7.4M 990 PDF
FY2020 $5.7M$6.2M−$539K$6.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $7,462,193 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $313,970$1,006,791
I-9 Program service revenuePrior year $5,300,613$6,398,330
I-10 Investment incomePrior year $61,560$46
I-11 Other revenuePrior year $12,294$57,026
I-12 Total revenuePrior year $5,688,437$7,462,193
I-13 Grants and similar amounts paidPrior year $325,489$374,727
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $3,376,010$3,526,527
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,525,981$2,467,214
I-18 Total expensesPrior year $6,227,480$6,368,468
I-19 Revenue less expensesPrior year −$539,043$1,093,725
Part VI · Governance 4 of 10 board members independent, 2 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members4
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $7,462,193 across 11 lines filed
Lines not itemized here account for $14,100 of total revenue; see the IRS return.
VIII-1c Fundraising events$41,253
VIII-1e Government grants$650,192
VIII-1f All other contributions, gifts and grants$315,346
VIII-1g Noncash contributions (included above)$15,200
VIII-1h Total contributions, gifts and grants$1,006,791
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $6,398,330$6,398,330
VIII-3 Investment incomeExcluded from tax $46$46
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising eventsExcluded from tax −$7,074−$7,074
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $50,000$50,000
VIII-12 Total revenueRelated to mission $6,462,430 · Unrelated business $0 · Excluded from tax −$7,028$7,462,193
Part IX · Statement of functional expenses $6,368,468 across 16 lines filed
IX-2 Grants to domestic individualsPrograms $374,727$374,727
IX-5 Pay of current officers, directors and key staffPrograms $218,142 · Management $53,140 · Fundraising $2,580$273,862
IX-7 Other salaries and wagesPrograms $2,276,282 · Management $554,507 · Fundraising $26,926$2,857,715
IX-9 Other employee benefitsPrograms $119,377 · Management $29,081 · Fundraising $1,412$149,870
IX-10 Payroll taxesPrograms $195,216 · Management $47,555 · Fundraising $2,309$245,080
IX-11c Accounting feesManagement $15,007$15,007
IX-12 Advertising and promotionManagement $8,615$8,615
IX-14 Information technologyPrograms $70,363 · Management $29,077$99,440
IX-16 OccupancyPrograms $257,633$257,633
IX-17 TravelPrograms $71,704$71,704
IX-19 Conferences, conventions and meetingsPrograms $37,801$37,801
IX-20 InterestManagement $370,430$370,430
IX-22 Depreciation, depletion and amortizationPrograms $678,040 · Management $35,686$713,726
IX-23 InsurancePrograms $75,616 · Management $3,980$79,596
IX-24 Other expenses (24a–d)Programs $643,772 · Management $48,096$691,868
IX-24e All other expensesPrograms $52,612 · Management $68,782$121,394
IX-25 Total functional expensesPrograms $5,071,285 · Management $1,263,956 · Fundraising $33,227$6,368,468
Part X · Balance sheet $19,003,336 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $1,278,449$1,978,239
X-2 Savings and temporary cash investmentsStart of year $92,148$106,298
X-3 Pledges and grants receivableStart of year $276,469$178,479
X-4 Accounts receivableStart of year $14,627$0
X-8 Inventories for sale or useStart of year $22,199$24,777
X-9 Prepaid expenses and deferred chargesStart of year $17,523$13,436
X-10c Land, buildings and equipment, netStart of year $17,104,197$16,673,171
X-15 Other assetsStart of year $28,936$28,936
X-16 Total assetsStart of year $18,834,548$19,003,336
X-17 Accounts payable and accrued expensesStart of year $294,207$375,103
X-19 Deferred revenueStart of year $1,987,232$2,235,108
X-26 Total liabilitiesStart of year $12,574,036$11,649,099
X-27 Net assets without donor restrictionsStart of year $6,260,512$7,354,237
X-32 Total net assets or fund balancesStart of year $6,260,512$7,354,237
X-33 Total liabilities and net assetsStart of year $18,834,548$19,003,336
Part XI · Reconciliation of net assets $7,354,237 net assets at year end
XI-1 Total revenue$7,462,193
XI-2 Total expenses$6,368,468
XI-3 Revenue less expenses$1,093,725
XI-4 Net assets at start of year$6,260,512
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$7,354,237

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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