2015-05-13T11:46:26-05:00 2014-06-30 742920819 ATCHLEY & ASSOCIATES LLP 6850 AUSTIN CENTER BLVD STE 180 AUSTIN TX 787313129 990 2013-07-01 201632745 VERITAS ACADEMY VERI 5128911673 PO BOX 90517 AUSTIN TX 787090517 JEF FOWLER HEAD OF SCHOOL 5128911673 2015-05-12 1 KAREN E ATCHLEY P00238005 5123462086 2013 2016-02-25 16:41:14Z JORDAN VIMONT PO BOX 90517 AUSTIN TX 787090517 3419956 0 X WWW.VERITASACADEMY.NET X 2004 TX VERITAS ACADEMY (VERITAS) IS A UNIVERSITY-MODEL COLLEGE PREPARATORY SCHOOL THAT INTEGRATES PROFESSIONAL INSTRUCTION WITH PARENT MENTORED STUDY. VERITAS WAS INCORPORATED IN THE STATE OF TEXAS IN AUGUST 2004. THE MISSION IS TO MINISTER TO FAMILIES BY PARTNERING WITH CHRISTIAN PARENTS TO PROVIDE FOR THEIR CHILDREN A CLASSICAL EDUCATION FOUNDED UPON A BIBLICAL WORLDVIEW SO THAT THESE CHILDREN MAY COMMENCE A LIFELONG PURSUIT OF SERVICE OF JESUS CHRIST, FOR THE GLORY OF GOD. VERITAS ACADEMY HAS ADOPTED A UNIVERSITY-MODEL APPROACH THAT INTEGRATES PROFESSIONAL INSTRUCTION WITH PARENT MENTORED STUDY AND CHARACTER DEVELOPMENT TO ACHIEVE A COLLEGE PREPARATORY LEVEL OF ACADEMIC EXCELLENCE. 7 4 135 100 0 0 1758881 241708 2745821 3075126 21095 656 43037 39011 4568834 3356501 105565 126858 0 0 2022978 2199937 0 0 37367 816517 954287 2945060 3281082 1623774 75419 5661569 5691910 3453575 3408497 2207994 2283413 X THE MISSION OF VERITAS ACADEMY IS TO MINISTER TO FAMILIES BY PARTNERING WITH CHRISTIAN PARENTS TO PROVIDE FOR THEIR CHILDREN A CLASSICAL EDUCATION SO THAT THESE CHILDREN MAY COMMENCE A LIFELONG PURSUIT OF KNOWLEDGE, WISDOM AND UNDERSTANDING IN THEIR PURPOSEFUL AND PASSIONATE SERVICE OF JESUS CHRIST, FOR THE GLORY OF GOD. VERITAS ACADEMY HAS ADOPTED A UNIVERSITY-MODEL APPROACH THAT INTEGRATES PROFESSION INSTRUCTION WITH PARENT MENTORED STUDY AND CHARACTER DEVELOPMENT TO ACHIEVE A COLLEGE PREPARATORY LEVEL OF ACADEMIC EXCELLENCE. 0 0 2772626 126858 3105324 THE SCHOOL PROVIDES A UNIVERSITY-MODEL APPROACH TO EDUCATION THAT INTEGRATES PROFESSIONAL INSTRUCTION WITH PARENT-MENTORED STUDY. 2772626 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 1 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 14 1 1 135 1 0 0 0 0 0 1 1 0 0 0 0 X 7 4 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 X ALLISON MALONE 5128911675 4220 MONTEREY OAKS BLVD AUSTIN TX 78749 JEF FOWLER HEAD OF SCHOOL/SCHOOL BOAR 50.00 X X 75702 0 38298 STARRLA FOWLER SCHOOL BOARD MEMBER 35.00 X 41107 0 0 CHRISTI WILSON SECRETARY/SCHOOL BOARD MEM 2.00 X X 2183 0 0 JOSH WHEELOCK SCHOOL BOARD VP/TREASURER 2.00 X X 0 0 0 JORDAN VIMONT SCHOOL BOARD PRESIDENT 4.00 X X 0 0 0 SUSAN SPROUSE SCHOOL BOARD MEMBER 2.00 X 0 0 0 SCOTT ELEQUIN SCHOOL BOARD MEMBER 2.00 X 0 0 0 118992 0 38298 0 0 0 0 0 27266 214442 115117 241708 TUITION AND FEES 900099 2822263 2822263 ATHLETICS 900099 114495 114495 FACILITIES FEES 900099 109163 109163 ACTIVITIES 900099 29205 29205 3075126 801 801 23131 0 23131 23131 23131 37394 37539 -145 -145 -145 0 27266 2458 -2458 -2458 30900 19629 11271 11271 7415 3829 3586 3586 MISCELLANEOUS 900099 3481 3481 3481 3356501 3105324 0 9469 126858 126858 162965 83185 79780 1790421 1621596 143075 25750 96257 94516 1741 150294 131441 16759 2094 3145 3145 11293 11293 2474 2474 23255 23255 232296 232296 32462 32462 40565 40565 97655 97655 99506 74630 24876 32270 11245 21025 SUPPLIES 132259 97642 34617 ATHLETIC PROGRAM EXPENS 119080 119080 STUDENT ACTIVITIES 27183 27183 DUES & SUBSCRIPTIONS 25030 25030 75814 51752 16280 7782 3281082 2772626 471089 37367 722276 838989 308682 298194 543177 388778 70931 71756 10398 12243 9991 19219 4475364 432532 3976215 4042832 17899 17899 2000 2000 5661569 5691910 158522 179931 1074168 1249125 2220885 1979441 3453575 3408497 X 364962 387020 1843032 1896393 2207994 2283413 5661569 5691910 75419 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3651303 3651303 354159 168617 185542 284898 192940 91958 185004 70975 114029 4042832 X 3251730 0 3251730 104771 104771 3356501 3176311 0 3176311 104771 104771 3281082 PART X, LINE 2: THE SCHOOL HAS ADOPTED FASB ASC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THAT STANDARD PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE FOR DE-RECOGNITION, CLASSIFICATION, INTEREST, AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID TUITION ASSISTANCE 126,858. FUNDRAISING EXPENSES INCLUDED IN REVENUE -2,458. GAMING EXPENSES INCLUDED IN REVENUE -19,629. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID TUITION ASSISTANCE 126,858. FUNDRAISING EXPENSES INCLUDED IN REVENUE -2,458. GAMING EXPENSES INCLUDED IN REVENUE -19,629. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL PUBLISHES ITS RACIALLY NONDISCRIMINATION POLICY IN MULTIPLE PLACES ON ITS WEBSITE WHICH SERVES AS THE SCHOOL'S PRIMARY MARKETING AND PROMOTIONAL VEHICLE. DEFENDER DASH 27266 27266 2458 27266 27266 2458 2458 -2458 30900 19629 1 0.10000 30900 19629 19629 11271 TX 0 TEXAS DOES NOT REQUIRE QUALIFIED ORGANIZATIONS TO BE REGISTERED WITH THE STATE BEFORE CONDUCTING A RAFFLE. 0 0 0 0.00000 1.00000 JULIE VAZ PO BOX 90517 AUSTIN TX 78709 0 JULIE VAZ 0 JULIE VAZ COORDINATED AND MAINTAINED RECORDS FOR THE EVENT. X 0 1 TUITION ASSISTANCE 65 126858 FMV CREDIT APPLIED TO TUITION INVOICE PART I, LINE 2: VERITAS USES AN INDEPENDENT, THIRD PARTY TO PROVIDE A RECOMMENDATION AS TO THE AMOUNT OF AID IT SHOULD CONSIDER PROVIDING A FAMILY BASED ON THE THIRD PARTY'S ASSESSMENT OF THE FAMILY'S FINANCIAL NEEDS. THE THIRD PARTY BASES THEIR RECOMMENDATION ON THE FINANCIAL DOCUMENTS PROVIDED BY THE FAMILY. VERITAS DOES NOT GIVE CASH AWARDS TO THE FAMILIES. INSTEAD, THE SCHOOL IMMEDIATELY APPLIES CREDITS AGAINST FAMILIES' TUITION INVOICES. MELONIE ELEQUIN MELONIE IS THE WIFE OF BOARD MEMBER SCOTT ELEQUIN AND A PAID TEACHER 28529 COMPENSATION FOR TEACHING POSITION 0 X 3 115117 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 JEF FOWLER (TRUSTEE/HEAD OF SCHOOL) & STARRLA FOWLER (TRUSTEE/HEAD OF SCHOOL OF LOGIC/PRINCIPAL) ARE MARRIED. FORM 990, PART VI, SECTION B, LINE 11 THE CONTROLLER REVIEWS THE 990 FIRST TO IDENTIFY ANY PROBLEMS OR ERRORS AND BRINGS THEM TO THE ACCOUNTANT'S ATTENTION. ONCE THE CONTROLLER APPROVES THE 990, IT IS REVIEWED WITH THE HEAD OF SCHOOL AND TREASURER AND THEN IT IS PRESENTED TO THE FINANCE COMMITTEE AND SCHOOL BOARD. IF THERE ARE ANY ISSUES THAT NEED TO BE ADDRESSED BY THE SCHOOL BOARD, A SPECIAL MEETING WILL BE CALLED. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD DISCUSSES ANY POTENTIAL CONFLICT OF INTEREST SITUATIONS AND VOTES TO GO FORWARD OR NOT WITH THE PROPOSED SITUATION. EACH YEAR, EVERY OFFICER, TRUSTEE, AND SCHOOL BOARD MEMBER IS REQUIRED TO COMPLETE A "DISCLOSURE OF POTENTIAL CONFLICTS OF INTEREST" STATEMENT. FORM 990, PART VI, SECTION B, LINE 15 KEY EMPLOYEE SALARIES: KEY EMPLOYEES' SALARIES ARE SET AND APPROVED BY THE SCHOOL BOARD. PERIODICALLY, A SALARY SURVEY IS CONDUCTED TO DETERMINE IF THE SALARIES BEING PAID ARE COMPETITIVE. THE COMPENSATION OF JEF FOWLER AND STARRLA FOWLER FOR THEIR WORK AS SCHOOL ADMINISTRATORS ARE ANALYZED AND SET BY THE BOARD. JEF AND STARRLA FOWLER ARE EXCLUDED FROM THE BOARD VOTE ON DETERMINING BOTH OF THEIR COMPENSATION PACKAGES. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE KEPT IN THE CONTROLLER'S OFFICE AND CAN BE VIEWED BY THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C THE OVERSIGHT POLICIES AND SELECTION OF AN INDEPENDENT ACCOUNTANT BY THE AUDIT COMMITTEE HAS NOT CHANGED SINCE PRIOR YEAR. FORM 990, PART VI, LINE 14 A DOCUMENT RETENTION POLICY HAS BEEN INFORMALLY ACCEPTED AND FOLLOWED. THE BOARD HAS DRAFTED A FORMAL POLICY,AND IT WILL BE OFFICIALLY ADOPTED AND IMPLEMENTED BY THIS UPCOMING FISCAL YEAR END. FORM 990, PART VI, SECTION A, LINE 1A THE SCHOOL'S GOVERNING BODY IS COMPRISED OF A SCHOOL BOARD AND A BOARD OF TRUSTEES. THE SCHOOL BOARD HAS COMPLETE OVERSIGHT OVER THE AFFAIRS OF VERITAS ACADEMY AND CAN TAKE ANY ACTION THAT DOES NOT ALTER VERITAS ACADEMY'S FIVE FOUNDATIONAL COMMITMENTS (I.E., THAT VERITAS ACADEMY REMAINS CHRISTIAN, CLASSICAL, UNIVERSITY-MODEL, A FAMILY MINISTRY, AND A RESOURCE SCHOOL FOR OTHER SIMILAR SCHOOLS). THE EXCLUSIVE ROLE OF THE BOARD OF TRUSTEES IS TO PASS RESOLUTIONS TO ENSURE THAT THE SCHOOL BOARD DOES NOT ALLOW VERITAS ACADEMY TO DEVIATE FROM THESE FIVE FOUNDATIONAL COMMITMENTS.