Veritas Preparatory School

Nonprofit profile at a glance

EIN
453766206
IRS 990 coverage
2015–2020
Forms available
Form 990 2020, Form 990-N 2014
Location
Williamsburg, VA, USA
Phone
7579030633
Rating
44
Verdict
MIXED
Rating confidence
Moderate
Sector
Secondary, High School
Affiliation
Christianity

Reported finances

Revenue
$92,496
Expenses
$112,721
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

1 person listed

Executive titles in this filing

  • Diane Cavazos (President, Ex-Officio)

Highest reported compensation

  • Diane Cavazos (President, Ex-Officio): $2,141 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Catholic Non-Profit Preparatory School

Operating model

Revenue model
Grant-funded. 100% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 22
  • Transparency & Controls: 90
  • Accountability: 21
  • Sustainability: 23
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 26.7%; rating input score 27
  • Program expense ratio: 22.2%; rating input score 22
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -21.9%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 1.9%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: 34.9% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: -9.6% per year; rating input score 0; 37th percentile among comparable filings
  • Asset growth: 13.4% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 26.7% of revenue deployed · 22.2% of spending went to programs
  • Governance: 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $25K in reported program spending
  • Leadership: top reported pay $2K · 1 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 6 filing years from 2015 to 2020
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 27/100.
  • High — Financial Efficiency: Program expense ratio scored 22/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Moderate — Sustainability: Operating margin scored 42/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.