2017-05-05T12:03:16-05:00 2016-06-30 621174696 BRUNDIGE PAYNE AND COMPANY PC 700 COLONIAL ROAD SUITE 220 MEMPHIS TN 381175156 990 2015-07-01 264135406 VERITAS COLLEGE PREPARATORY LEADERSHIP ACADEMY VERI 9015261900 1500 DUNN AVENUE MEMPHIS TN 38106 MATT WEATHERSBY CHAIRMAN 9015261900 2017-04-18 1 RICHARD A SWOPE CPA P00590766 9016834234 2015 2021-01-29 14:40:06Z MATT WEATHERSBY 1500 DUNN AVENUE MEMPHIS TN 38106 1604888 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. 10 10 27 0 0 0 1825559 1426543 17429 34581 35 1 0 140441 1843023 1601566 0 0 0 0 1088420 961516 0 0 44516 538321 532040 1626741 1493556 216282 108010 299265 425408 448929 467062 -149664 -41654 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 1207669 171956 COLLEGE PREPARATORY SCHOOL PROVIDING A QUALITY EDUCATION TO THOSE STUDENTS IN MEMPHIS WHOSE EDUCATIONAL NEEDS ARE NOT BEING MET IN A TRADITIONAL SCHOOL SETTING. 1207669 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 5 0 27 1 0 0 0 0 0 0 0 0 0 0 X 10 10 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 ANDREW SCHAEFFER BOARD MEMBER 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 EIKO HARRIS BOARD MEMBER 1.00 X 0 0 0 GREGORY DAVIS 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 MARTY WICK BOARD MEMBER 1.00 X 0 0 0 TRAVIS LEMONTE TREASURER 1.00 X X 0 0 0 JEREMY GRAY BOARD MEMBER 1.00 X 0 0 0 NICK GETSCHMAN EXECUTIVE DIRECTOR 40.00 X 80906 0 0 MARVELLE PORTER DEAN OF STUDENT LIFE 40.00 X 52708 0 0 133614 0 0 0 0 0 0 0 1193104 233439 1426543 VARIOUS PROGRAM REVENU 611710 34581 34581 34581 1 1 6388 3322 3066 3066 PENSION-GASB68 ADOPTIO 611620 137375 137375 137375 1601566 171956 0 3067 133614 58532 34629 40453 705960 654560 51400 2904 1936 968 54620 33413 21207 64418 54742 6581 3095 12862 12862 4824 4824 6553 6553 711 711 254138 229773 24365 142 142 9732 9562 170 17089 17089 BUS LEASING 83190 83190 SUPPLIES EXPENSE 38052 38052 EQUIPMENT LEASING 36967 36967 PROFESSIONAL DEVELOPMEN 36711 36711 31069 9134 21935 1493556 1207669 241371 44516 120798 4376 12170 1676 10282 1700 213400 71672 23181 141728 132834 275928 299265 425408 162262 213145 64750 286667 189167 448929 467062 X -149664 -41654 -149664 -41654 299265 425408 108010 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 125000 125000 88400 71672 16728 141728 DEFERRED OUTFLOWS - PENSION 194208 NET PENSION ASSETS 81720 275928 DEFERRED INFLOWS - PENSION 189167 189167 X 1467514 3323 3323 1464191 137375 137375 1601566 1359504 -134052 -134052 1493556 0 1493556 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. 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 RECEIVES FUNDS FROM THE STATE OF TENNESSEE DEPARTMENT OF EDUCATION. 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.