Veritas Academy
Veritas Academy shows strong revenue growth and asset accumulation with no reported officer compensation.
EIN: 201632745 · Austin, TX · NTEE: B20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $14.2M |
| Total Expenses | $8.1M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $9,480,000 |
| Net Assets | $9.7M |
| Transparency Score | 85/100 |
Is Veritas Academy Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Veritas Academy directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Veritas Academy
Veritas Academy (EIN: 201632745) is a nonprofit organization based in Austin, TX, classified under NTEE code B20. The organization reported total revenue of $14.2M and total assets of $27.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Veritas Academy's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Veritas Academy is a large nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 12.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $9.5M |
| Total Expenses | $8.1M |
| Surplus / Deficit | +$1.4M |
| Total Assets | $21.7M |
| Total Liabilities | $12.0M |
| Net Assets | $9.7M |
| Operating Margin | 14.5% |
| Debt-to-Asset Ratio | 55.1% |
| Months of Reserves | 32.2 months |
Financial Health Grade: A
In 2023, Veritas Academy reported a surplus of $1.4M with revenue exceeding expenses, holds 32.2 months of operating reserves (strong position), has a debt-to-asset ratio of 55.1% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Veritas Academy's revenue has grown at a compound annual growth rate (CAGR) of 12.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +26.3% | +13.1% | +11.5% |
| 2022 | +0.6% | +12.5% | +2.5% |
| 2021 | +31.2% | +2.3% | +0.9% |
| 2020 | +2.7% | +3.6% | -1.5% |
| 2019 | +2.6% | +20.8% | -0.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2710 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Veritas Academy with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 12%
- programs: 80%
- fundraising: 8%
According to IRS 990 filings, Veritas Academy allocates its expenses as follows: admin: 12%, programs: 80%, fundraising: 8%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $1.4M, with revenue exceeding expenses.
- Debt-to-asset ratio: 55.1%.
Executive Compensation Analysis
Veritas Academy consistently reports 0% officer compensation across all 13 available IRS 990 filings, indicating that no salaries are paid to officers, which is highly unusual for an organization of its size with $9,480,000 in revenue in 202306.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Veritas Academy's IRS 990 filings:
- 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
The following positive indicators were identified for Veritas Academy:
- 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.
Frequently Asked Questions about Veritas Academy
Is Veritas Academy a legitimate charity?
Veritas Academy (EIN: 201632745) is a registered tax-exempt nonprofit based in Texas. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $14.2M. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does Veritas Academy spend its money?
Veritas Academy directs 80% of its spending to programs and services. Fundraising costs 8%. This exceeds the 65% industry benchmark.
Are donations to Veritas Academy tax-deductible?
Veritas Academy is registered as a tax-exempt nonprofit (EIN: 201632745). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Veritas Academy CEO make?
Veritas Academy's highest-compensated officer earns $9,480,000 annually. The organization reported $14.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Veritas Academy's spending goes to programs?
Veritas Academy directs 80% to programs, 8% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Veritas Academy compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Veritas Academy is above average for NTEE category B20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Veritas Academy located?
Veritas Academy is headquartered in Austin, Texas and files with the IRS under EIN 201632745. It is classified under NTEE code B20.
How many years of IRS 990 filings does Veritas Academy have?
Veritas Academy has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $14.2M in total revenue.
Is Veritas Academy a good charity?
Based on the provided financial data, Veritas Academy appears to be a financially healthy organization with consistent revenue growth, increasing assets, and a notable commitment to not paying officer compensation, suggesting strong financial stewardship. Its long filing history also indicates transparency.
How has Veritas Academy's revenue changed over time?
Veritas Academy has experienced significant revenue growth, increasing from $3,356,501 in 201406 to $9,480,000 in 202306, with a peak of $14,183,343 in its latest reported revenue, demonstrating strong financial expansion.
What is the trend in Veritas Academy's assets and liabilities?
Assets have grown substantially from $5,691,910 in 201406 to $21,727,722 in 202306. Liabilities have also increased significantly, from $3,408,497 in 201406 to $11,981,735 in 202306, maintaining a relatively stable asset-to-liability ratio over time.
Does Veritas Academy pay its executives?
According to all 13 IRS 990 filings provided, Veritas Academy consistently reports 0% officer compensation, indicating that no salaries are paid to its officers.
Filing History
IRS 990 filing history for Veritas Academy showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Veritas Academy's revenue has grown by 328.1%, moving from $2.2M to $9.5M. Total assets increased by 1155.3% over the same period, from $1.7M to $21.7M. Total functional expenses rose by 265.4%, from $2.2M to $8.1M. In its most recent filing year (2023), Veritas Academy reported a surplus of $1.4M, with revenue exceeding expenses. The organization holds $12.0M in liabilities against $21.7M in assets (debt-to-asset ratio: 55.1%), resulting in net assets of $9.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $9.5M | $8.1M | $21.7M | $12.0M | — | — |
| 2022 | $7.5M | $7.2M | $19.5M | $11.8M | — | View 990 |
| 2021 | $7.5M | $6.4M | $19.0M | $11.6M | — | — |
| 2020 | $5.7M | $6.2M | $18.8M | $12.6M | — | — |
| 2019 | $5.5M | $6.0M | $19.1M | $12.3M | — | View 990 |
| 2018 | $5.4M | $5.0M | $19.2M | $12.0M | — | View 990 |
| 2017 | $7.3M | $4.7M | $11.1M | $4.3M | — | View 990 |
| 2016 | $6.4M | $4.4M | $7.9M | $3.7M | — | View 990 |
| 2015 | $3.7M | $3.8M | $5.8M | $3.5M | — | View 990 |
| 2014 | $3.4M | $3.3M | $5.7M | $3.4M | — | View 990 |
| 2013 | $4.6M | $2.9M | $5.7M | $3.5M | — | View 990 |
| 2012 | $2.7M | $2.8M | $1.7M | $1.1M | — | View 990 |
| 2011 | $2.2M | $2.2M | $1.7M | $1.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $9.5M, expenses of $8.1M, and assets of $21.7M (revenue +26.3% year-over-year).
- 2022: Revenue of $7.5M, expenses of $7.2M, and assets of $19.5M (revenue +0.6% year-over-year).
- 2021: Revenue of $7.5M, expenses of $6.4M, and assets of $19.0M (revenue +31.2% year-over-year).
- 2020: Revenue of $5.7M, expenses of $6.2M, and assets of $18.8M (revenue +2.7% year-over-year).
- 2019: Revenue of $5.5M, expenses of $6.0M, and assets of $19.1M (revenue +2.6% year-over-year).
- 2018: Revenue of $5.4M, expenses of $5.0M, and assets of $19.2M (revenue -25.6% year-over-year).
- 2017: Revenue of $7.3M, expenses of $4.7M, and assets of $11.1M (revenue +13.0% year-over-year).
- 2016: Revenue of $6.4M, expenses of $4.4M, and assets of $7.9M (revenue +71.6% year-over-year).
- 2015: Revenue of $3.7M, expenses of $3.8M, and assets of $5.8M (revenue +11.5% year-over-year).
- 2014: Revenue of $3.4M, expenses of $3.3M, and assets of $5.7M (revenue -26.5% year-over-year).
- 2013: Revenue of $4.6M, expenses of $2.9M, and assets of $5.7M (revenue +68.4% year-over-year).
- 2012: Revenue of $2.7M, expenses of $2.8M, and assets of $1.7M (revenue +22.6% year-over-year).
- 2011: Revenue of $2.2M, expenses of $2.2M, and assets of $1.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Veritas Academy:
Data Sources and Methodology
This transparency report for Veritas Academy is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.