VERITAS COLLEGE PREPARATORY LEADERSHIP ACADEMY: Form 990, tax year 2015
View the entire original 990 at ProPublica ↗
- Organization
- VERITAS COLLEGE PREPARATORY LEADERSHIP ACADEMY (EIN 26-4135406)
- Tax period
- 2015-07-01 to 2016-06-30
- Filed
- 2017-05-05
- IRS object ID
- 201721259349300147
- Schema version
- 2015v3.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2017-05-05T12:03:16-05:00 | ReturnTs |
| Tax Period End | 2016-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 621174696 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BRUNDIGE PAYNE AND COMPANY PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 700 COLONIAL ROAD SUITE 220 | AddressLine1Txt |
| City | MEMPHIS | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 381175156 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2015-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 264135406 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VERITAS COLLEGE PREPARATORY | BusinessNameLine1Txt |
| Business Name Line2 | LEADERSHIP ACADEMY | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | VERI | BusinessNameControlTxt |
| Phone | 9015261900 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1500 DUNN AVENUE | AddressLine1Txt |
| City | MEMPHIS | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 38106 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MATT WEATHERSBY | PersonNm |
| Person Title | CHAIRMAN | PersonTitleTxt |
| Phone | 9015261900 | PhoneNum |
| Signature | 2017-04-18 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | RICHARD A SWOPE CPA | PreparerPersonNm |
| PTIN | P00590766 | PTIN |
| Phone | 9016834234 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2015 | TaxYr |
| Build TS | 2021-01-29 14:40:06Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | MATT WEATHERSBY | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1500 DUNN AVENUE | AddressLine1Txt |
| City | MEMPHIS | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 38106 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $1,604,888 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.VERITASCOLLEGEPREP.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2009 | FormationYr |
| Legal Domicile State | TN | LegalDomicileStateCd |
| Activity Or Mission | 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. | ActivityOrMissionDesc |
| Voting Members Governing Body | 10 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 10 | VotingMembersIndependentCnt |
| Total Employee | 27 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $1,825,559 | PYContributionsGrantsAmt |
| CY Contributions Grants | $1,426,543 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $17,429 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $34,581 | CYProgramServiceRevenueAmt |
| PY Investment Income | $35 | PYInvestmentIncomeAmt |
| CY Investment Income | $1 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $140,441 | CYOtherRevenueAmt |
| PY Total Revenue | $1,843,023 | PYTotalRevenueAmt |
| CY Total Revenue | $1,601,566 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $1,088,420 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $961,516 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $44,516 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $538,321 | PYOtherExpensesAmt |
| CY Other Expenses | $532,040 | CYOtherExpensesAmt |
| PY Total Expenses | $1,626,741 | PYTotalExpensesAmt |
| CY Total Expenses | $1,493,556 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $216,282 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $108,010 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $299,265 | TotalAssetsBOYAmt |
| Total Assets EOY | $425,408 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $448,929 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $467,062 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | -$149,664 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | -$41,654 | NetAssetsOrFundBalancesEOYAmt |
| Mission | 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. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $1,207,669 | ExpenseAmt |
| Revenue | $171,956 | RevenueAmt |
| Desc | COLLEGE PREPARATORY SCHOOL PROVIDING A QUALITY EDUCATION TO THOSE STUDENTS IN MEMPHIS WHOSE EDUCATIONAL NEEDS ARE NOT BEING MET IN A TRADITIONAL SCHOOL SETTING. | Desc |
| Total Program Service Expenses | $1,207,669 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (1) | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 5 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 27 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 10 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 10 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | 0 | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | TN | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NICK GETSCHMAN | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 9015261900 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1500 DUNN AVENUE | AddressLine1Txt |
| City | MEMPHIS | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 38106 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (12 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd |
|---|---|---|---|---|---|---|
| ANDREW SCHAEFFER | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MATT WEATHERSBY | ||||||
| PRESIDENT | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| LIZ MCKEE | ||||||
| VICE PRESIDENT | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| EIKO HARRIS | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| GREGORY DAVIS | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| TIFFANEE WADE-HENDERSON | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| SONYA FLECK | ||||||
| SECRETARY | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| MARTY WICK | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| TRAVIS LEMONTE | ||||||
| TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| JEREMY GRAY | ||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |
| NICK GETSCHMAN | ||||||
| EXECUTIVE DIRECTOR | 40.00 | $80,906 | $0 | $0 | Yes (X) | |
| MARVELLE PORTER | ||||||
| DEAN OF STUDENT LIFE | 40.00 | $52,708 | $0 | $0 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $133,614 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $1,193,104 | GovernmentGrantsAmt |
| All Other Contributions | $233,439 | AllOtherContributionsAmt |
| Total Contributions | $1,426,543 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | VARIOUS PROGRAM REVENU | Desc |
| Business | 611710 | BusinessCd |
| Total Revenue Column | $34,581 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $34,581 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $34,581 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1 | TotalRevenueColumnAmt |
| Exclusion | $1 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $6,388 | FundraisingGrossIncomeAmt |
| Fundraising Direct Expenses | $3,322 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,066 | TotalRevenueColumnAmt |
| Exclusion | $3,066 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PENSION-GASB68 ADOPTIO | Desc |
| Business | 611620 | BusinessCd |
| Total Revenue Column | $137,375 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $137,375 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $137,375 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,601,566 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $171,956 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $3,067 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $133,614 | TotalAmt |
| Program Services | $58,532 | ProgramServicesAmt |
| Management And General | $34,629 | ManagementAndGeneralAmt |
| Fundraising | $40,453 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $705,960 | TotalAmt |
| Program Services | $654,560 | ProgramServicesAmt |
| Management And General | $51,400 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,904 | TotalAmt |
| Management And General | $1,936 | ManagementAndGeneralAmt |
| Fundraising | $968 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $54,620 | TotalAmt |
| Program Services | $33,413 | ProgramServicesAmt |
| Management And General | $21,207 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $64,418 | TotalAmt |
| Program Services | $54,742 | ProgramServicesAmt |
| Management And General | $6,581 | ManagementAndGeneralAmt |
| Fundraising | $3,095 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,862 | TotalAmt |
| Management And General | $12,862 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,824 | TotalAmt |
| Management And General | $4,824 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,553 | TotalAmt |
| Management And General | $6,553 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $711 | TotalAmt |
| Management And General | $711 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $254,138 | TotalAmt |
| Program Services | $229,773 | ProgramServicesAmt |
| Management And General | $24,365 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $142 | TotalAmt |
| Management And General | $142 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,732 | TotalAmt |
| Program Services | $9,562 | ProgramServicesAmt |
| Management And General | $170 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,089 | TotalAmt |
| Management And General | $17,089 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| BUS LEASING | $83,190 | $83,190 | |
| SUPPLIES EXPENSE | $38,052 | $38,052 | |
| EQUIPMENT LEASING | $36,967 | $36,967 | |
| PROFESSIONAL DEVELOPMEN | $36,711 | $36,711 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $31,069 | TotalAmt |
| Program Services | $9,134 | ProgramServicesAmt |
| Management And General | $21,935 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,493,556 | TotalAmt |
| Program Services | $1,207,669 | ProgramServicesAmt |
| Management And General | $241,371 | ManagementAndGeneralAmt |
| Fundraising | $44,516 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $120,798 | BOYAmt |
| EOY | $4,376 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,170 | BOYAmt |
| EOY | $1,676 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,282 | BOYAmt |
| EOY | $1,700 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $213,400 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $71,672 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,181 | BOYAmt |
| EOY | $141,728 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $132,834 | BOYAmt |
| EOY | $275,928 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $299,265 | BOYAmt |
| EOY | $425,408 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $162,262 | BOYAmt |
| EOY | $213,145 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $64,750 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $286,667 | BOYAmt |
| EOY | $189,167 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $448,929 | BOYAmt |
| EOY | $467,062 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$149,664 | BOYAmt |
| EOY | -$41,654 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$149,664 | BOYAmt |
| EOY | -$41,654 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $299,265 | BOYAmt |
| EOY | $425,408 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $108,010 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $125,000 | OtherCostOrOtherBasisAmt |
| Book Value | $125,000 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $88,400 | OtherCostOrOtherBasisAmt |
| Depreciation | $71,672 | DepreciationAmt |
| Book Value | $16,728 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $141,728 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (2 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| DEFERRED OUTFLOWS - PENSION | $194,208 |
| NET PENSION ASSETS | $81,720 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $275,928 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DEFERRED INFLOWS - PENSION | Desc |
| Amt | $189,167 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $189,167 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $1,467,514 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | $3,323 | OtherRevenueAmt |
| Revenue Not Reported | $3,323 | RevenueNotReportedAmt |
| Revenue Subtotal | $1,464,191 | RevenueSubtotalAmt |
| Other Revenues Not Included | $137,375 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $137,375 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $1,601,566 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $1,359,504 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | -$134,052 | OtherExpensesIncludedAmt |
| Expenses Not Reported | -$134,052 | ExpensesNotReportedAmt |
| Expenses Subtotal | $1,493,556 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $1,493,556 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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, 2016, 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, 2013. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | FUNDRAISING EXPENSE NETTED WITH FUNDRAISING REVENUE 3,323. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | PENSION - GASB68 ADOPTION 137,375. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | PENSION - GASB 68 ADOPTION -137,375. FUNDRAISING EXPENSE NETTED WITH FUNDRAISING REVENUE 3,323. |
| XI, LINE 4B AND XII, LINE 2D | THE SCHOOL HAS ADOPTED GASB 68 RELATED TO PENSIONS AND IS REQUIRED TO ADJUST THE PENSION CONTRIBUTION EACH YEAR BASED ON THE INFORMATION PROVIDED BY THE STATE GOVERMENT. IN THE CURRENT YEAR, THERE WAS A NEGATIVE $160,657 PENSION EXPENSE AFTER THE ADJUSTMENTS. THIS ITEM WAS MOVED TO THE INCOME SECTION ON THE RETURN. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (1) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (1) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (1) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (1) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (1) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (1) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (1) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | 0 | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | 0 | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | 0 | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | 0 | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | 0 | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | 0 | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | Yes (1) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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 RECEIVES FUNDS FROM THE STATE OF TENNESSEE DEPARTMENT OF EDUCATION. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11 | 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. |