Veritas Academy INC FY2023 filing

Tax-deductible

Leola, PA501(c)(3)EducationEIN 59-3333430Revenue $4.3M in FY2023

On file with the IRSveritasacademy.com26 Hillcrest Ave, 17540-1810 · Leola, PATax-exempt since Sep 1997School — 170(b)(1)(A)(ii)

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Classical christian k-12 school teaching grammar, dialectic and rhetoric.

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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 5
filings with a surplus
Average surplus $757K a year · 17% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $1.0M
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$3.3M
53% of total assets
Fine: liabilities are 53% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.3M
+21% vs prior year
Spent
$3.7M
To programs
83%
Net assets
$2.9M
By yearFY2021–FY2025
Revenue
$4.3M
FY2023▲ +21%
Tap a bar for its year
Revenue by fiscal year
FY2021$3.4M
FY2022$3.5M
FY2023$4.3M
FY2024$4.8M
FY2025$5.7M
Expenses
$3.7M
FY2023▲ +26%
Tap a bar for its year
Expenses by fiscal year
FY2021$2.5M
FY2022$3.0M
FY2023$3.7M
FY2024$4.2M
FY2025$4.6M
Net assets
$2.9M
FY2023▲ +24%
Tap a bar for its year
Net assets by fiscal year
FY2021$1.7M
FY2022$2.3M
FY2023$2.9M
FY2024$3.5M
FY2025$4.6M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1997.

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

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $3.1M Management & general 8% · $306K Fundraising 9% · $324K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Vice Chair
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A

Tyler Fischer’s $146K as Head of Schoolteacher is at the 62nd percentile of top reported officer pay among 3395 $1–10M 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 · 3 named individuals · Part VII

NameFY2025FY2024
Tyler Fischer$145,725$131,350
Dan Spanjer$111,667$109,479
Jonathan Daughtrey$107,200$107,193

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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Educates K-12 students in classical Christian grammar, dialectic, and rhetoric.

Provided by the organization

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1 program · $3.1M · in their own filed words · FY2022
01

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.

$3.1Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
See all 4 funders →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$4.3M
Ln 12
Fees for servicesLn 2g$2.7M
Gifts and grantsLn 1h$1.5M
Investment incomeLn 3$14K
Money outPt IX
$3.7M
Ln 25
Programscol B$3.1M
Managementcol C$306K
Fundraisingcol D$324K
Owns and owesPt X
$2.9M
net assets · Ln 32
Cash and savingsLn 1–2$485K
Total assetsLn 16$6.2M
LiabilitiesLn 26$3.3M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.5M
Government grantsLn 1e$166K
Fees for servicesLn 2g$2.7M
Investment incomeLn 3$14K
Total revenueLn 12$4.3M
Assets in detailPt X, end of year
CashLn 1$211K
SavingsLn 2$275K
Cash and savings togetherLn 1–2$485K
InvestmentsLn 11–13$12K
Land, buildings, equipmentLn 10c$5.4M
Other assetsLn 15$273K
Total assetsLn 16$6.2M
LiabilitiesLn 26$3.3M
Net assetsLn 32$2.9M
OperationsPt I, VI
EmployeesI 586
VolunteersI 6100
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$973K$485K
InvestmentsLn 11–13$12K
Land, buildings, equipmentLn 10c$4.5M$5.4M
Total assetsLn 16$5.7M$6.2M
LiabilitiesLn 26$3.3M$3.3M
Net assetsLn 32$2.3M$2.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$2.3M$1.9M$193K$167K
Payroll taxesLn 10$180K$151K$15K$13K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$17K$17K
Other fees for servicesLn 11g$15K$11K$4K
Advertising and promotionLn 12$175K$45K$130K
Office expensesLn 13$41K$34K$3K$3K
Information technologyLn 14$36K$30K$3K$3K
OccupancyLn 16$233K$225K$5K$2K
Conferences, conventions and meetingsLn 19$11K$11K
InterestLn 20$116K$112K$3K$1K
Depreciation, depletion and amortizationLn 22$207K$201K$4K$2K
InsuranceLn 23$26K$22K$2K$2K
Other expenses (24a–d)Ln 24$333K$333K
All other expensesLn 24e$56K$46K$9K$375
Total functional expensesLn 25$3.7M$3.1M$306K$324K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $5.7M$4.6M$1.1M$4.6M 990 PDF
FY2024 $4.8M$4.2M$583K$3.5M 990 PDF
FY2023 Viewing $4.3M$3.7M$553K$2.9M 990 PDF
FY2022 $3.5M$3.0M$591K$2.3M 990 PDF
FY2021 $3.4M$2.5M$950K$1.7M 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 FY2023 990 (6 parts)
Part I · Summary $4,273,600 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,261,995$1,518,740
I-9 Program service revenuePrior year $2,282,845$2,741,155
I-10 Investment incomePrior year $671$13,705
I-11 Other revenuePrior year $344$0
I-12 Total revenuePrior year $3,545,855$4,273,600
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,915,426$2,453,437
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,039,480$1,266,767
I-18 Total expensesPrior year $2,954,906$3,720,204
I-19 Revenue less expensesPrior year $590,949$553,396
Part VI · Governance 8 of 8 board members independent, 3 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $4,273,600 across 6 lines filed
Lines not itemized here account for $44,894 of total revenue; see the IRS return.
VIII-1e Government grants$166,389
VIII-1f All other contributions, gifts and grants$1,352,351
VIII-1h Total contributions, gifts and grants$1,518,740
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,696,261$2,696,261
VIII-3 Investment incomeExcluded from tax $13,705$13,705
VIII-12 Total revenueRelated to mission $2,741,155 · Excluded from tax $13,705$4,273,600
Part IX · Statement of functional expenses $3,720,204 across 15 lines filed
IX-7 Other salaries and wagesPrograms $1,913,450 · Management $192,839 · Fundraising $167,486$2,273,775
IX-10 Payroll taxesPrograms $151,191 · Management $15,237 · Fundraising $13,234$179,662
IX-11b Legal feesManagement $2,220$2,220
IX-11c Accounting feesManagement $17,334$17,334
IX-11g Other fees for servicesPrograms $11,116 · Management $3,962$15,078
IX-12 Advertising and promotionManagement $44,771 · Fundraising $130,216$174,987
IX-13 Office expensesPrograms $34,488 · Management $3,476 · Fundraising $3,019$40,983
IX-14 Information technologyPrograms $30,300 · Management $3,054 · Fundraising $2,652$36,006
IX-16 OccupancyPrograms $224,719 · Management $5,372 · Fundraising $2,442$232,533
IX-19 Conferences, conventions and meetingsPrograms $10,759$10,759
IX-20 InterestPrograms $111,818 · Management $2,673 · Fundraising $1,215$115,706
IX-22 Depreciation, depletion and amortizationPrograms $201,248 · Management $4,087 · Fundraising $1,837$207,172
IX-23 InsurancePrograms $21,951 · Management $1,932 · Fundraising $1,678$25,561
IX-24 Other expenses (24a–d)Programs $332,768$332,768
IX-24e All other expensesPrograms $45,918 · Management $9,367 · Fundraising $375$55,660
IX-25 Total functional expensesPrograms $3,089,726 · Management $306,324 · Fundraising $324,154$3,720,204
Part X · Balance sheet $6,159,185 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $963,230$210,618
X-2 Savings and temporary cash investmentsStart of year $10,188$274,588
X-4 Accounts receivableStart of year $57,521$24,868
X-9 Prepaid expenses and deferred chargesStart of year $80,439$5,160
X-10c Land, buildings and equipment, netStart of year $4,454,747$5,358,940
X-12 Other securities$11,971
X-15 Other assetsStart of year $99,953$273,040
X-16 Total assetsStart of year $5,666,078$6,159,185
X-17 Accounts payable and accrued expensesStart of year $153,089$171,867
X-19 Deferred revenueStart of year $26,539$28,304
X-24 Unsecured notes and loans payableStart of year $3,155,020$3,074,188
X-26 Total liabilitiesStart of year $3,334,648$3,274,359
X-27 Net assets without donor restrictionsStart of year $2,291,877$2,833,557
X-28 Net assets with donor restrictionsStart of year $39,553$51,269
X-32 Total net assets or fund balancesStart of year $2,331,430$2,884,826
X-33 Total liabilities and net assetsStart of year $5,666,078$6,159,185
Part XI · Reconciliation of net assets $2,884,826 net assets at year end
XI-1 Total revenue$4,273,600
XI-2 Total expenses$3,720,204
XI-3 Revenue less expenses$553,396
XI-4 Net assets at start of year$2,331,430
XI-10 Net assets at end of year$2,884,826

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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