The Veritas School of Social Sciences

Nonprofit profile at a glance

EIN
872758480
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Atlanta, GA, USA
Phone
7704625777
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Secondary, High School

Official website

Reported finances

Revenue
$1,616,010
Expenses
$1,519,243
Assets
$179,700
Liabilities
$46,552

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • BRANDON FLEMING (PRESIDENT/CEO)

Highest reported compensation

  • BRANDON FLEMING (PRESIDENT/CEO): $136,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Veritas school of social sciences is a college preparatory institute whose core curriculum is taught through the lens of social impact. Veritas employs college-level academic disciplines to develop the next generation of underrepresented innovators and leaders.

What it reported doing in 2024

Veritas operates as a saturday school called veritas debate institute, where students attend weekly saturday school in atlanta, ga for 11-months and a summer residency at harvard college in cambridge, ma.

Operating model

Revenue model
Earned-program. 64% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.8%; rating input score 71
  • Program expense ratio: 75.3%; rating input score 75
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 6%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 0.12; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 0.26; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 9%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: 81.2% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 82.8% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 33.8% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 70.8% of revenue deployed · 75.3% of spending went to programs
  • Governance: 13 of 13 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $136K · 13 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.
  • Review — Sustainability: Operating margin scored 53/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.