2013-05-14T10:51:14-05:00 2012-06-30 742920819 ATCHLEY & ASSOCIATES LLP 6850 AUSTIN CENTER BLVD STE 180 AUSTIN TX 787313129 990 2011-07-01 201632745 VERITAS ACADEMY VERI 5128911673 PO BOX 90517 AUSTIN TX 787090517 JEF FOWLER 5128911673 2013-05-13 1 KAREN E ATCHLEY P00238005 5123462086 2011 2016-02-24 21:20:13Z STUART NOLLEY PO BOX 90517 AUSTIN TX 787090517 2736446 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. 5 3 127 100 0 0 54876 95069 2078980 2541250 4076 3569 76402 73966 2214334 2713854 93487 108778 0 0 1591009 1884939 7129 0 39863 525524 769524 2217149 2763241 -2815 -49387 1730867 1677996 1097261 1093777 633606 584219 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 2313076 108778 2575514 THE SCHOOL PROVIDES A UNIVERSITY-MODEL APPROACH TO EDUCATION THAT INTEGRATES PROFESSIONAL INSTRUCTION WITH PARENT-MENTORED STUDY. 2313076 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 0 1 25 0 1 127 1 0 0 0 0 0 0 0 0 0 0 X 5 3 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 10.00 X X 0 0 0 DAX MCCRACKEN THRU FEB3 2012 0.10 X X 0 0 0 JEF FOWLER 55.00 X X 69083 0 24526 REX WHITE 0.10 X X 0 0 0 SUSAN NOLLEY 0.10 X 2220 0 0 JENNIFER MCCRACKEN THRU 2312 0.10 X 0 0 0 STARRLA FOWLER 30.00 X 34062 0 0 TERRI WHITE THRU JAN30 2012 0.10 X 0 0 0 105365 0 24526 0 0 0 0 0 16517 78552 40812 95069 TUITION AND FEES 900099 2425604 2425604 ATHLETICS 900099 76129 76129 FACILITIES FEES 900099 26000 26000 ACTIVITIES 900099 13517 13517 2541250 3569 3569 18287 0 18287 18287 18287 59264 16517 19562 39702 39702 14657 3030 11627 11627 MISCELLANEOUS 900099 4350 4350 4350 2713854 2575514 0 43271 108778 108778 75574 37787 37787 1602214 1374435 218984 8795 66609 59187 7026 396 140542 117748 22027 767 5206 5206 10626 10626 2447 2447 15749 15749 196766 196766 14980 14980 47052 47052 87158 62289 24869 31202 11424 19778 SUPPLIES 113625 83599 30026 SPORTING EXPENSES 76152 76152 FACILITIES REPAIR & MAI 26968 26968 PRINTING & PUBLICATIONS 22510 22510 119083 68195 20983 29905 2763241 2313076 410302 39863 331136 425899 1274705 728085 14949 0 13217 29994 5724 10218 6975 23150 620786 230035 64262 390751 17899 17899 2000 52000 1730867 1677996 89896 139606 1007365 954171 1097261 1093777 X 359555 335891 274051 248328 633606 584219 1730867 1677996 -49387 0 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 340261 43608 296653 280525 186427 94098 390751 2713854 2763241 -49387 -49387 2624638 0 2624638 89216 89216 2713854 2674025 0 2674025 89216 89216 2763241 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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 XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID TUITION ASSISTANCE 108,778. FUNDRAISING EXPENSES INCLUDED IN REVENUE -19,562. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID TUITION ASSISTANCE 108,778. FUNDRAISING EXPENSES INCLUDED IN REVENUE -19,562. 1 1 1 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 A NOTICE, AS SPECIFIED IN REV PROC 75-50, IN THE FRONT SECTION OF THE PREDOMINANT NEWSPAPER IN OUR AREA DURING THE TIME THAT STUDENTS ARE BEING SOLICITED. LEGACY GALA 71116 16517 54599 1331 2483 8156 3150 4256 71116 16517 54599 1331 2483 8156 3150 4256 19376 35223 1 TUITION ASSISTANCE 73 108778 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 39481 FAIR MARKET VALUE X GIFT VOUCHERS 77 1331 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 JEF FOWLER (SECRETARY/TRUSTEE/HEAD OF SCHOOL) & STARRLA FOWLER (TRUSTEE) ARE MARRIED. STUART NOLLEY (CHAIRMAN) & SUSAN NOLLEY (TRUSTEE) ARE MARRIED. DAX MCCRACKEN (VICE CHAIRMAN) & JENNIFER MCCRACKEN (TRUSTEE) ARE MARRIED. REX WHITE (TREASURER) & TERRI WHITE (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 BOARD OF TRUSTEES. IF THERE ARE ANY ISSUES THAT NEED TO BE ADDRESSED BY THE BOARD OF TRUSTEES, 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 AND TRUSTEE 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 BOARD OF TRUSTEES. 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. PART VI, SECTION B, LINE 14 A FORMAL POLICY WAS NOT IMPLEMENTED AS OF THE END OF THIS FISCAL YEAR BUT WILL BE IMPLEMENTED IN THE FISCAL YEAR ENDING JUNE 30, 2013. 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.