Quick charity verification for Veritas Academy (EIN: 201632745)
Verdict: Veritas Academy appears trustworthy
85/100Mission Score
$14.2MRevenue
$27.1MAssets
1Red Flags
5Strengths
Red Flags
Significant increase in liabilities from $3,408,497 in 201406 to $11,981,735 in 202306, which warrants further investigation into their nature and terms.
Strengths
Consistent revenue growth, from $3,356,501 in 201406 to $9,480,000 in 202306.
Strong asset accumulation, increasing from $5,691,910 in 201406 to $21,727,722 in 202306.
No reported officer compensation across all 13 filings, indicating a high dedication of funds to the mission.
Long and consistent IRS 990 filing history (13 filings), demonstrating transparency.
Expenses generally lower than revenues in most recent periods, indicating financial efficiency and surplus generation.
Spending Breakdown
How Veritas Academy allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
12%
Admin Costs
Reasonable — admin costs in check
8%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Veritas Academy
Is Veritas Academy a legitimate charity?
Based on AI analysis of IRS 990 filings, Veritas Academy (EIN: 201632745) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 5 strengths noted.
Is Veritas Academy a good charity to donate to?
Veritas Academy has a Mission Score of 85/100. Revenue: $14.2M. Assets: $27.1M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Veritas Academy?
The Employer Identification Number (EIN) for Veritas Academy is 201632745. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Veritas Academy spend its money?
Veritas Academy allocates 80% to programs, 12% to administration, and 8% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Veritas Academy's tax-exempt status?
You can verify Veritas Academy's tax-exempt status using EIN 201632745 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Veritas Academy demonstrates a generally healthy financial trajectory, marked by consistent revenue growth and increasing assets over the past decade. In the 202306 period, the organization reported revenues of $9,480,000 against expenses of $8,100,758, indicating a surplus. The asset base has also grown significantly, from $5,691,910 in 201406 to $21,727,722 in 202306, suggesting sound financial management and investment in its mission. However, the liabilities have also increased substantially, reaching $11,981,735 in 202306, which warrants closer examination relative to the asset growth.
The organization appears to be efficient in its spending, with expenses generally lower than revenues in most recent periods, allowing for asset accumulation. The consistent reporting of 0% officer compensation across all available filings suggests a commitment to directing funds towards programs rather than executive salaries, which is a positive indicator of financial stewardship. While specific program, administrative, and fundraising spending ratios are not provided in the raw data, the overall financial health and growth trends are positive.
Transparency is indicated by the availability of 13 years of IRS 990 filings, demonstrating a consistent reporting history. The lack of reported officer compensation is a strong point for transparency and resource allocation. Further analysis of the detailed 990 forms would be needed to fully assess the breakdown of program vs. administrative and fundraising expenses, but the high-level data suggests a well-managed and growing organization.