2021-01-20T14:36:38-06:00 2020-06-30 621114363 HENDERSON HUTCHERSON & MCCULLOUGH PLLC 1755 KIRBY PARKWAY SUITE 200 MEMPHIS TN 38120 990 2019-07-01 264135406 VERITAS COLLEGE PREPARATORY LEADERSHIP ACADEMY VERI 9015261900 1500 DUNN AVE MEMPHIS TN 38106 MATT WEATHERSBY CHAIRMAN 9015261900 2021-01-20 1 RICHARD A SWOPE CPA P00590766 9016834234 2021-01-20 2019 2022-09-23 18:48:47Z MATT WEATHERSBY 1500 DUNN AVE MEMPHIS TN 38106 1866057 0 X WWW.VERITASCOLLEGEPREP.ORG X 2009 TN THE ORGANIZATION PREPARES MEMPHIS STUDENTS IN GRADES SIX THROUGH EIGHT TO EXCEL IN HIGH SCHOOL AND COLLEGE AS ACCOMPLISHED SCHOLARS AND TO CONTRIBUTE TO THEIR COMMUNITIES AS ETHICAL LEADERS. 11 11 16 0 0 0 1373484 1866057 0 0 0 0 0 0 1373484 1866057 0 0 0 0 851265 1004961 0 0 813 435473 446084 1286738 1451045 86746 415012 605887 1009225 276200 264526 329687 744699 THE ORGANIZATION PREPARES MEMPHIS STUDENTS IN GRADES SIX THROUGH EIGHT TO EXCEL IN HIGH SCHOOL AND COLLEGE AS ACCOMPLISHED SCHOLARS AND TO CONTRIBUTE TO THEIR COMMUNITIES AS ETHICAL LEADERS. 0 0 1126639 COLLEGE PREPARATORY SCHOOL PROVIDING A QUALITY EDUCATION TO THOSE STUDENTS IN MEMPHIS WHOSE EDUCATIONAL NEEDS ARE NOT BEING MET IN A TRADITIONAL SCHOOL SETTING. 1126639 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 6 0 1 16 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 0 0 0 TN X NICK GETSCHMAN 9015261900 1500 DUNN AVENUE MEMPHIS TN 38106 PARKER RHETT TREASURER 1.00 X 0 0 0 MATT WEATHERSBY PRESIDENT 1.00 X X 0 0 0 LIZ MCKEE VICE PRESIDENT 1.00 X X 0 0 0 BETH HALLDORSON BOARD MEMBER 1.00 X 0 0 0 LARA BUTLER BOARD MEMBER 1.00 X 0 0 0 TIFFANEE WADE-HENDERSON BOARD MEMBER 1.00 X 0 0 0 SONYA FLECK SECRETARY 1.00 X X 0 0 0 TRAVIS LEMONTE BOARD MEMBER 1.00 X X 0 0 0 NICK GETSCHMAN EXECUTIVE DIRECTOR 40.00 X 101667 0 11046 MARVELLE PORTER DEAN OF STUDENT LIFE 40.00 X 62966 0 11886 164633 0 22932 1 0 0 0 0 1855876 10181 1866057 1866057 0 0 0 169150 73577 95573 562919 523419 39500 165459 165459 53314 33692 19622 54119 43786 10333 13856 13856 33357 32544 813 669 669 2098 2098 193687 169613 24074 13912 12521 1391 16801 16801 BUS LEASING 51124 51124 SUPPLIES EXPENSE 45069 32148 12921 DUES AND SUBSCRIPTIONS 38605 38605 EQUIPMENT LEASING 15606 15606 21300 21300 1451045 1126639 323593 813 272395 676923 1269 6504 800 800 213400 138326 88986 75074 242437 249924 605887 1009225 194985 157816 81215 106710 276200 264526 X 93635 601485 236052 143214 329687 744699 605887 1009225 415012 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 125000 50000 75000 88400 88326 74 75074 DEFERRED OUTFLOWS - PENSION 95117 NET PENSION ASSETS 142546 STABILIZATION RESERVE TRUST 12261 249924 DEFERRED INFLOWS - PENSION 106710 106710 X 1866057 0 1866057 0 1866057 1451045 0 1451045 0 1451045 PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES MANAGEMENT OF THE SCHOOL TO EVALUATE TAX POSITIONS TAKEN BY THE SCHOOL AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE SCHOOL HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. THE SCHOOL HAS ANALYZED THE TAX POSITIONS TAKEN BY THE SCHOOL AND HAS CONCLUDED THAT AS OF JUNE 30, 2020, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE SCHOOL IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS IN PROGRESS FOR ANY TAX PERIODS. THE SCHOOL BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO JUNE 30, 2017. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL MEETS REV. PROC. 75-50, 1975-2 C.B. 587 SECTION 4.0 (2)C BY DRAWING STUDENTS FROM LOCAL COMMUNITIES. SCHEDULE E, PART I, LINE 6 THE SCHOOL RECEIVED GRANTS FROM THE TENNESSEE DEPARTMENT OF EDUCATION TOTALING $1,682,733 AND GRANTS FROM THE U.S. DEPARTMENT OF EDUCATION TOTALING $11,743. FORM 990, PART VI, SECTION B, LINE 11B THE RETURN PREPARER PROVIDED A COPY OF THE FINAL VERSION OF FORM 990 TO THE BOARD OF DIRECTORS BEFORE IT WAS FILED. ADDITIONALLY, THE BOARD OF DIRECTORS REVIEWED AND APPROVED THE RETURN BEFORE IT WAS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD AND THE EXECUTIVE DIRECTOR ANNUALLY REVIEWS AND ENFORCES THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION C, LINE 19 VERITAS COLLEGE PREPARATORY LEADERSHIP ACADEMY PROVIDES ITS FINANCIAL STATEMENTS OR OTHER GOVERNING DOCUMENTS FOR PUBLIC INSPECTION UPON REQUEST. PART XI, LINE 2C THE PROCESS USED BY THE COMMITTEE TO OVERSEE AND AUDIT HAS NOT CHANGED FROM THE PRIOR YEAR.