Veritas Sports Academy Inc in Greensboro, North Carolina (NC)
Table of contents:
| Veritas Sports Academy Inc | |
| Employer Identification Number (EIN) | 203466078 |
| Name of Organization | Veritas Sports Academy Inc |
| In Care of Name | Gary D Newell |
| Address | 7616 Business Park Drive, Greensboro, NC 27409-9339 |
| Subsection | Educational Organization, Charitable Organization |
| Ruling Date | 04/2007 |
| Deductibility | Contributions are deductible |
| Foundation | School |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2012 |
| Assets | $10,000 to $24,999 |
| Income | $25,000 to $99,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $15,573 |
| Amount of Income | $81,469 |
| Form 990 Revenue Amount | $81,469 |
| National Taxonomy of Exempt Entities (NTEE) | Educational Institutions and Related Activities: Specialized Education Institutions |
Non-representatives - add comments:
Amount of income in 2012: $81,469 (it was $142,513 in 2011)
| This organization: | $81,469 |
| Other organizations performing similar types of work: | $217,579 |
Assets in 2012: $15,573 (it was $26,388 in 2011)
| This organization: | $15,573 |
| Other organizations performing similar types of work: | $99,372 |
Expenses in 2012: $35,466
| This organization: | $35,466 |
| Other organizations performing similar types of work: | $243,038 |
Income to expenses ratio in 2012: 2.3
| Veritas Sports Academy Inc: | 2.3 |
| Other organizations performing similar types of work: | 1.1 |
Grants share in income in 2012: 0.0%
| Veritas Sports Academy Inc: | 0.0% |
| Other organizations performing similar types of work: | 5.0% |
Functional expenses for 2012
| Statements Regarding Other IRS Filings and Tax Compliance (for 2012) | |
| Did the organization have unrelated business gross income of $1,000 or more during the year? | No |
| Initiation fees and capital contributions | $0 |
| Gross receipts for public use of club facilities | $0 |
| Gross income from members or shareholders | $0 |
| Gross income from other sources | $0 |
| Statement of Revenue (for 2012) | |
| Total revenue | $81,469 |
| Contributions, Gifts, Grants and Other Similar Amounts | $0 |
| Program Service Revenue | $81,469 |
| Other Revenue | |
| Investment income (including dividends, interest, and other similar amounts) | $0 |
| Income from investment of tax-exempt bond proceeds | $0 |
| Royalties | $0 |
| Net rental income | $0 |
| Net gain from sales of assets other than inventory | $0 |
| Net income from fundraising events | $0 |
| Net income from gaming activities | $0 |
| Net income from sales of inventory | $0 |
| Miscellaneous Revenue | $0 |
| Statement of Functional Expenses (for 2012) | |
| Total functional expenses | $35,466 |
| Compensation of current officers, directors, trustees, and key employees | $0 |
| Other salaries and wages | $19,156 |
| Payroll taxes | $0 |
| Professional fundraising services | $0 |
| Other | $16,310 |
| Balance Sheet (for 2012) | |
| Total assets | $15,573 |
| Total liabilities | $347,800 |
| Tax-exempt bond liabilities | $0 |
| Secured mortgages and notes payable to unrelated third parties | $0 |
| Unsecured notes and loans payable to unrelated third parties | $0 |
| Other | $347,800 |
| Total net assets or fund balances | $-332,227 |
| Retained earnings, endowment, accumulated income, or other funds | $-332,227 |
| Reason for Public Charity Status (for 2012) | |
| The organization is not a private foundation because it is: | An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975 |
| Support Schedule for Organizations Described in Section 509(a)(2) (for 2012) | |
| 2008 - 2012 Total | |
|---|---|
| Total support | $1,246,101 |
| Gifts, grants, contributions, and membership fees received | $1,246,101 |
| Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | $0 |
| Tax revenues levied for the organization's benefit and either paid to or expended on its behalf | $0 |
| The value of services or facilities furnished by a governmental unit to the organization without charge | $0 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources and Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975 | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | The Fletcher Academy School Of Achievement Inc | Achievement Inc, Raleigh, NC 27609 | NC | 2001-09 | $2,610,940 |
| 2 | The Mariposa School | 203 Gregson Dr, Cary, NC 27511-6495 | NC | 2001-05 | $1,225,641 |
| 3 | St Gerard House | 620 Oakland St, Hendersonvlle, NC 28791-3646 | NC | 2012-07 | $819,991 |
| 4 | Epiphany School Of Charlotte Inc | 1000 E Morehead St, Charlotte, NC 28204-2813 | NC | 2013-08 | $425,211 |
| 5 | Longleaf Academy Inc | 600 Valley View Rd, Southern Pnes, NC 28387-3518 | NC | 2011-01 | $193,563 |
| 6 | New Independence Academy | PO BOX 125, Pikeville, NC 27863-0125 | NC | 2014-07 | $91,952 |
| 7 | Veritas Sports Academy Inc | 7616 Business Park Drive, Greensboro, NC 27409-9339 | NC | 2007-04 | $81,469 |
| 8 | Shands School, Shands Institute | 130a West Matthews Street, Matthews, NC 28105 | NC | 2010-02 | $63,228 |
| 9 | Northern Orange Empowerment Group, Noeg Northern Orange Empowerment Group | 5124 Nc Hwy 86n, Hillsborough, NC 27278 | NC | 2005-04 | $2,500 |
| 10 | A License For Learning | 5807 High Point Rd, Greensboro, NC 27407-7004 | NC | 2001-11 | $0 |
| 11 | Academy Of Finance Of Wake County Inc | 5500 Dixon Dr, Raleigh, NC 27617 | NC | 2005-11 | $0 |
| 12 | Asperger Connection School | 503 Glendale Dr, Pikeville, NC 27863-9613 | NC | 2011-06 | $0 |
| 13 | Durhams Child Development Center | 2611 Broad St, Durham, NC 27704-3009 | NC | 2000-05 | $0 |
| 14 | Dynamic Community Charter School Inc | 5510 Munford Road, Raleigh, NC 27613 | NC | 2014-08 | $0 |
| 15 | Grace Studios Of Lincoln County Presents Kindermusik Inc | 2234 Heavner Rd, Lincolnton, NC 28092-8553 | NC | 2003-06 | $0 |
| 16 | Janb School | 726 E 11th St, Newton, NC 28658 | NC | 2003-05 | $0 |
| 17 | Jay Robinson Middle School Booster Club | 5925 Ballantyne Commons Pkwy, Charlotte, NC 28277 | NC | 2005-08 | $0 |
| 18 | Lomac Developmental Services Inc | 711 Amber Dr, Fayetteville, NC 28311 | NC | 1994-10 | $0 |
| 19 | Mentoring & Educational Network For Technical & Organizational | PO BOX 1149, Kinston, NC 28503 | NC | 2003-08 | $0 |
| 20 | New West Academy | PO BOX 371, Weldon, NC 27890-0371 | NC | 2011-07 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 1,314 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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