Veritas Christian Academy of Houston 
The information on this page was last updated 6/13/2023. If you see errors or omissions, please email: [email protected]
Summary
Veritas is an independent Christian school in the classical tradition that prepares students for lives of service and learning through academic excellence, character development, biblical literacy, and intentional engagement opportunities.
Contact information
Mailing address:
Veritas Christian Academy of Houston
7000 Ferris St
Bellaire, TX 77401
Website: veritasca.org
Phone: 713-773-9605
Email: [email protected]
Organization details
EIN: 141854212
CEO/President: David Q. Hao
Chairman: David Steinbach
Board size: 10
Founder:
Ruling year: 2004
Tax deductible: Yes
Fiscal year end: 07/31
Member of ECFA: Yes
Member of ECFA since: 2012
Purpose
Academic Excellence
Veritas embraces a history of excellence in academic achievement. We are committed to challenging our students to their highest potential in academics and stretching their intellectual boundaries, seeking to model and impart the virtues of inquiry, preparation, and discipline, in the pursuit of knowledge and understanding.
Character Formation
Veritas educates holistically, both character and mind. Moral formation and mature behavior are of equal value with the acquisition of knowledge. We are committed to developing students' hearts and minds, seeking to instill in them both knowledge and Christian values.
Biblical Literacy
Veritas seeks to shape our students' thinking through scripture both by understanding biblical content and through a deeper awareness of its meaning and ethical application. We believe that our students' minds are informed and fashioned through Christian studies and by mastering core competencies of the Bible.
Classical Foundation
Veritas is committed to a classical pedagogy to develop our students' intellectual abilities and assist them to acquire the skills for good scholarship. The principles of classical thought inform and guide the school in its curricular aims to prepare our students for success beyond Veritas.
Intentional Engagement
Veritas values providing a variety of engagement opportunities, both curricular and co-curricular, for the development of each student. The classroom, the playing field, travel exposure, fine arts integration, and community service are all part of the laboratory of learning for Veritas students.
Mission statement
Veritas is an independent Christian school in the classical tradition that prepares students for lives of service and learning through academic excellence, character development, biblical literacy, and intentional engagement opportunities.
Statement of faith
The following are the foundational beliefs on which Veritas Christian Academy of Houston is based. As the key elements of Christianity, these will be taught and integrated in various ways throughout all the grade levels and throughout the educational experience of all Veritas students. These statements provide the primary doctrine of the school. Any secondary doctrines and issues will not be presented as primary doctrine, and should secondary doctrine or issues arise, students will be asked to refer to their family and local church for clarification.
We believe there is one true God, almighty and perfect, eternally existent in three distinct Persons: Father, Son, and Holy Spirit;
We believe the Holy Scriptures, comprised of the 66 books of the Old and New Testaments, are fully and uniquely inspired by God and are therefore infallible in the original writings. Christians must submit to its divine authority, both individually and corporately, in all matters of belief and conduct.
We believe Christ Jesus, God the Son, was conceived by the Holy Spirit, born of the virgin Mary, taking upon Himself human flesh, uniting two natures in one Person forever. He lived a perfect, sinless life, died a substitutionary, atoning death on the cross, rose bodily from the dead, and ascended to heaven where He sits at the right hand of God the Father. He is the only mediator between God and man, will return in power and glory, will judge every human being who has ever lived and in so doing will consummate history and the eternal plan of God.
We believe that all human beings are sinful by nature, estranged from God, and condemned by their sin. Man can never atone for his sin and thereby restore his relationship with God by self-improvement, ceremony, or good works.
We believe man's salvation is wholly dependent upon the work of God's free grace. God imputes His righteousness by faith alone to those who place their trust in Christ for their salvation, thereby justifying them in His sight. Only such as are born of the Holy Spirit and receive Jesus Christ become children of God and heirs of eternal life.
We believe in the continuing and necessary ministry of the Holy Spirit who applies the saving work of Christ to our hearts, giving glory to Christ. He convicts us of sin and draws us to the Savior. Indwelling our hearts, He gives new life to us, empowers, and imparts gifts to us for service. He instructs and guides us into all truth, and seals us for the day of redemption.
We believe the true Church is composed of all persons who, through saving faith in Jesus Christ and the sanctifying work of the Holy Spirit, are united together in the body of Christ. God admonishes His people to assemble together regularly for worship, for participation in ordinances, for edification through the Scriptures, and for mutual encouragement. The Church finds a visible, yet imperfect, expression in local congregations where the word of God is preached in its purity and the sacraments are administered in their integrity, where scriptural discipline is practiced, and where loving fellowship is maintained. For her perfecting, the Church awaits the return of her Lord.
We believe the Lord Jesus Christ commands and therefore it is the obligation of all believers to proclaim the Gospel throughout the world and to make disciples of all nations by deed and word. Obedience to this Great Commission requires total commitment to "Him who loved us and gave Himself for us." He calls us to a life of self-denying love and service.
Donor confidence score
Transparency grade
A
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: K-12 Schools/Academies
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 884 of 1115 | 42 of 49 |
| Fund acquisition rating | | 916 of 1116 | 44 of 49 |
| Resource allocation rating | | 842 of 1116 | 40 of 49 |
| Asset utilization rating | | 481 of 1115 | 18 of 49 |
Financial ratios
| Funding ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 11% | 50% | 41% | 55% | 35% | 30% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 2% | 3% | 3% | 3% | 3% | 2% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 13% | 7% | 8% | 6% | 8% | 7% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 2% | 3% | 3% | 3% | 3% | 2% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 87% | 93% | 92% | 94% | 92% | 93% |
| Operating ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Program expense ratio Program expense ratio = Program services / Total expenses | 83% | 77% | 77% | 77% | 74% | 78% |
Spending ratio Spending ratio = Total expenses / Total revenue | 98% | 100% | 95% | 96% | 96% | 97% |
Program output ratio Program output ratio = Program services / Total revenue | 80% | 77% | 73% | 74% | 72% | 75% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 2% | 0% | 5% | 4% | 4% | 3% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 2% | 0% | 9% | 8% | 7% | 7% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 14% | 20% | 20% | 19% | 23% | 20% |
| Investing ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.50 | 0.58 | 0.56 | 0.58 | 0.55 | 0.55 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 3.10 | 3.21 | 3.29 | 3.14 | 2.97 | 2.85 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.87 | 1.87 | 1.83 | 1.83 | 1.62 | 1.57 |
| Liquidity ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Current ratio Current ratio = Total current assets / Total current liabilities | 3.06 | 1.24 | 1.45 | 1.49 | 1.77 | 1.67 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.33 | 0.81 | 0.69 | 0.67 | 0.56 | 0.60 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 3.17 | 1.24 | 2.04 | 2.17 | 3.23 | 3.07 |
| Solvency ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 32% | 67% | 66% | 68% | 72% | 72% |
Debt ratio Debt ratio = Debt / Total assets | 9% | 42% | 45% | 47% | 52% | 51% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 137% | 56% | 61% | 54% | 52% | 51% |
Financials
| Balance sheet | |||||
| Assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Cash | $1,734,825 | $1,614,759 | $1,630,593 | $1,884,896 | $1,839,583 |
| Receivables, inventories, prepaids | $84,964 | $101,587 | $123,365 | $126,139 | $129,197 |
| Short-term investments | $103,327 | $95,129 | $105,729 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $1,923,116 | $1,811,475 | $1,859,687 | $2,011,035 | $1,968,780 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $4,257,255 | $4,140,364 | $3,975,596 | $3,952,689 | $3,639,782 |
| Other long-term assets | $0 | $0 | $0 | $0 | $0 |
| Total long-term assets | $4,257,255 | $4,140,364 | $3,975,596 | $3,952,689 | $3,639,782 |
| Total assets | $6,180,371 | $5,951,839 | $5,835,283 | $5,963,724 | $5,608,562 |
| Liabilities | 2023 | 2022 | 2021 | 2020 | 2019 |
| Payables and accrued expenses | $162,736 | $109,900 | $142,625 | $203,074 | $204,342 |
| Other current liabilities | $1,388,045 | $1,137,752 | $1,103,208 | $933,051 | $972,780 |
| Total current liabilities | $1,550,781 | $1,247,652 | $1,245,833 | $1,136,125 | $1,177,122 |
| Debt | $2,598,227 | $2,676,630 | $2,751,215 | $3,129,215 | $2,856,344 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $0 | $0 | $0 | $0 | $0 |
| Total long-term liabilities | $2,598,227 | $2,676,630 | $2,751,215 | $3,129,215 | $2,856,344 |
| Total liabilities | $4,149,008 | $3,924,282 | $3,997,048 | $4,265,340 | $4,033,466 |
| Net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Without donor restrictions | $2,012,697 | $1,985,890 | $1,609,218 | $1,549,606 | $1,430,464 |
| With donor restrictions | $18,666 | $41,667 | $229,017 | $148,778 | $144,632 |
| Net assets | $2,031,363 | $2,027,557 | $1,838,235 | $1,698,384 | $1,575,096 |
| Revenues and expenses | |||||
| Revenue | 2023 | 2022 | 2021 | 2020 | 2019 |
| Total contributions | $246,739 | $279,717 | $204,349 | $272,835 | $224,934 |
| Program service revenue | $3,280,266 | $3,168,410 | $3,294,972 | $3,020,886 | $2,918,292 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $10,486 | ($10,260) | $6,066 | $12,236 | $18,384 |
| Other revenue | $61,820 | $68,725 | $33,463 | $67,668 | $39,553 |
| Total other revenue | $3,352,572 | $3,226,875 | $3,334,501 | $3,100,790 | $2,976,229 |
| Total revenue | $3,599,311 | $3,506,592 | $3,538,850 | $3,373,625 | $3,201,163 |
| Expenses | 2023 | 2022 | 2021 | 2020 | 2019 |
| Program services | $2,760,353 | $2,544,171 | $2,629,392 | $2,412,964 | $2,413,158 |
| Management and general | $717,674 | $659,303 | $657,881 | $741,526 | $614,174 |
| Fundraising | $123,282 | $113,798 | $111,732 | $95,847 | $66,490 |
| Total expenses | $3,601,309 | $3,317,272 | $3,399,005 | $3,250,337 | $3,093,822 |
| Change in net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Surplus (deficit) | ($1,998) | $189,320 | $139,845 | $123,288 | $107,341 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | ($1,998) | $189,320 | $139,845 | $123,288 | $107,341 |
Compensation
| Name | Title | Compensation |
| David Hao | Head of School | $112,260 |
| Marilyn Hughes | Director of Finance | $90,067 |
| Lina Delgado | Interim Head of School | $47,500 |
Compensation data as of: 7/31/2023
Response from ministry
No response has been provided by this ministry.
The information below was provided to MinistryWatch by the ministry itself. It was last updated 6/13/2023. To update the information below, please email: [email protected]