2014-05-15T11:52:19-05:00 2013-06-30 742920819 ATCHLEY & ASSOCIATES LLP 6850 AUSTIN CENTER BLVD STE 180 AUSTIN TX 787313129 990 2012-07-01 201632745 VERITAS ACADEMY VERI 5128911673 PO BOX 90517 AUSTIN TX 787090517 JEF FOWLER 5128911673 2014-05-15 1 RENAE DUNCAN P01257722 5123462086 2012 2015-11-30 17:44:51Z JORDAN VIMONT PO BOX 90517 AUSTIN TX 787090517 4822774 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 5 135 100 0 0 95069 1758881 2541250 2745821 3569 21095 73966 43037 2713854 4568834 108778 105565 0 0 1884939 2022978 0 0 25241 769524 816517 2763241 2945060 -49387 1623774 1677996 5661569 1093777 3453575 584219 2207994 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 2507990 105565 2767428 THE SCHOOL PROVIDES A UNIVERSITY-MODEL APPROACH TO EDUCATION THAT INTEGRATES PROFESSIONAL INSTRUCTION WITH PARENT-MENTORED STUDY. 2507990 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 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 16 0 1 135 1 0 0 0 0 0 1 1 0 0 0 0 X 7 5 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 X ALLISON MILLION 5128911675 4220 MONTEREY OAKS BLVD AUSTIN TX 78749 STUART NOLLEY 4.00 X X 0 0 0 JEF FOWLER 50.00 X X 71070 0 30486 SUSAN NOLLEY 2.00 X 0 0 0 STARRLA FOWLER 35.00 X 34996 0 0 REX WHITE THRU 8272012 0.10 X 0 0 0 CHRISTI WILSON 2.00 X 719 0 0 JOSH WHEELOCK 2.00 X 0 0 0 JORDAN VIMONT 4.00 X 0 0 0 106785 0 30486 0 0 0 0 0 43064 1715817 247451 1758881 TUITION AND FEES 900099 2578565 2578565 ATHLETICS 900099 85903 85903 FACILITIES FEES 900099 56300 56300 ACTIVITIES 900099 25053 25053 2745821 1210 1210 19957 0 19957 19957 19957 244695 224810 19885 19885 19885 38643 43064 17213 21430 21430 7073 11917 -4844 -4844 MISCELLANEOUS 900099 6494 6494 6494 4568834 2767428 0 42525 105565 105565 138952 69476 69476 1679936 1481150 179956 18830 57132 56334 798 146958 125365 19983 1610 10 10 10925 10925 3250 3250 21937 21937 227200 227200 13060 13060 42543 42543 102991 77243 25748 30690 9884 20806 SUPPLIES 143756 108903 34853 ATHLETIC PROGRAM EXPENS 85955 85955 DUES & SUBSCRIPTIONS 26415 26415 STUDENT ACTIVITIES 22858 22858 84927 56029 24895 4003 2945060 2507990 411829 25241 425899 722276 728085 308682 543177 29994 70931 10218 10398 23150 9991 4309241 333026 390751 3976215 17899 17899 52000 2000 1677996 5661569 139606 158522 954171 1074168 0 2220885 1093777 3453575 X 335891 364962 248328 1843032 584219 2207994 1677996 5661569 1623774 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3555241 3555241 340261 109027 231234 257019 181769 75250 156720 42230 114490 3976215 X 4480482 0 4480482 88352 88352 4568834 2856707 0 2856707 88352 88352 2945059 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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 105,565. FUNDRAISING EXPENSES INCLUDED IN REVENUE -17,213. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID TUITION ASSISTANCE 105,565. FUNDRAISING EXPENSES INCLUDED IN REVENUE -17,213. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION 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 34790 34790 630 1970 DEFENDER GOLF TOURNAMENT 46917 8274 38643 555 5223 5774 1200 1861 81707 43064 38643 555 5223 6404 1200 3831 17213 21430 1 TUITION ASSISTANCE 51 105565 FMV CREDIT APPLIED TO TUITION INVOICE PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, 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. X 3 246896 FAIR MARKET VALUE X MISCELLANEOUS 2 555 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 JEF FOWLER (TRUSTEE/HEAD OF SCHOOL) & STARRLA FOWLER (TRUSTEE) ARE MARRIED. STUART NOLLEY (TRUSTEE) & SUSAN NOLLEY (TRUSTEE) 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. 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 DRAFTED AND WILL BE 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 FOUR FOUNDATIONAL COMMITMENTS (I.E., THAT VERITAS ACADEMY REMAINS CHRISTIAN, CLASSICAL, UNIVERSITY-MODEL, 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 FOUR FOUNDATIONAL COMMITMENTS.