Veritas Classical Christian School

Nonprofit profile at a glance

EIN
550770184
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Richmond, VA, USA
Phone
8042729517
Rating
80
Verdict
STRONG
Rating confidence
Standard
Sector
Primary, Elementary Schools
Affiliation
Christianity

Official website

Reported finances

Revenue
$12,562,803
Expenses
$12,244,585
Assets
$30,270,347
Liabilities
$10,766,437

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

Leadership & pay

13 people listed

Highest reported compensation

  • W Keith Nix (Head of School): $378,753 total reported compensation
  • Douglas Kinard (Director of Business Operations): $165,000 total reported compensation
  • Andrew Smith (Dean of Academics): $123,180 total reported compensation

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

Overview

Mission

Christ-centered, academically robust classical education for students in grades JK-12; to prepare students not only for college but for life. _The Veritas School Board of Directors is responsible for governing the affairs and operation of the school in accordance with Scripture and the Bylaws, Mission Statement, Philosophy Statement, and Statement of Faith of the school. The Board is comprised of between five and fifteen members who are elected for three-year terms. The Board of Directors is firmly committed to remaining true to Veritas’ mission and vision through ongoing Board training, robust succession planning, investments in legal and human resources, and the thoughtful cultivation of new Board candidates._ List of 8 items. Anne Creasy (Chair).

What it reported doing in 2024

Provide Classical and Christian education to over 680 students grades JK-12; Employing teachers, upper and lower school principals, business manager, office managers, and directors of admissions and development.

Operating model

Revenue model
Earned-program. 85% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 84% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 88
  • Accountability: 89
  • Sustainability: 50
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.2%; rating input score 77
  • Program expense ratio: 81.2%; rating input score 81
  • Fundraising efficiency: $2.62 raised per $1 spent on fundraising; rating input score 9; 9th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 21st percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.5%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 2.47; rating input score 69; 69th percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 41; 41st percentile among comparable filings
  • Officer compensation ratio: 7.3%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 11.1% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 12.2% per year; rating input score 100; 81st percentile among comparable filings
  • Asset growth: 14.6% per year; rating input score 100; 80th percentile among comparable filings

Details

  • What they do: 1 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 77.2% of revenue deployed · 81.2% of spending went to programs
  • Governance: 8 of 9 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $9.9M in reported program spending
  • Leadership: top reported pay $379K · 13 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $209K reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 12 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 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.

  • High — Financial Efficiency: Fundraising efficiency scored 9/100.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 41/100.