Veritas Classical Academy

Nonprofit profile at a glance

EIN
460659218
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Fullerton, CA, USA
Phone
9495571311
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12
Affiliation
Christianity

Official website

Reported finances

Revenue
$1,552,198
Expenses
$2,032,694
Assets
$417,613
Liabilities
$0

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

Leadership & pay

9 people listed

Executive titles in this filing

  • DAVID KIM (PRESIDENT)

Highest reported compensation

  • DAVID KIM (PRESIDENT): $120,784 total reported compensation

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

Overview

Mission

Out mission is to disciple our students to delight, discern, and display the glory of god in jesus christ through classical, christian education. It emphasizes cultivating wonder, critical thinking skills, and paideia culture, and christian worldview thinking.

What it reported doing in 2024

Classical christian education is done and it is the biblical appropriation of a time-tested method of teaching known as the trivium, which refers to the three stages (or ways) of learning: grammar, logic and rhetoric. These stages coincide with a childs cognitive development as he matures. This model develops critical thingking skills and engages a students naturally curiosity so that he learns how to learn, allowing him to become a lifelong learner. This method has been practiced since the ancient times. It has produced some of the greatest leaders of history including the founding fathers of USA. Classical education emphasizes learning from the classics. It stands on the conviction that god has providentially guided history and that the riches of gods glory can be gained from every age culminating in jesus christ.

Operating model

Revenue model
Earned-program. 94% 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 - A large share of available resources goes toward mission work and most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 47
  • Accountability: 69
  • Sustainability: 22
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90.2%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 0%; rating input score 0; 13th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 19th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -31%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 0.21; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 5.9%; rating input score 50; 50th percentile among comparable filings

Growth

  • Program expense growth: 17.8% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: 16.8% per year; rating input score 100; 81st percentile among comparable filings
  • Asset growth: 20.4% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90.2% of spending went to programs
  • Governance: 5 of 6 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.8M in reported program spending
  • Leadership: top reported pay $121K · 9 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 7 filed schedules · includes major donors, foreign activity, and executive pay
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • Review — Sustainability: Officer compensation ratio scored 50/100.
  • Review — Grant Readiness: California registration: this organization could not be resolved against the register, so the check is unfinished.