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.

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Transparency grade

A

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Financial efficiency ratings

Sector: K-12 Schools/Academies

CategoryRatingOverall rankSector rank
Overall efficiency rating831 of 111341 of 49
Fund acquisition rating888 of 111445 of 49
Resource allocation rating880 of 111442 of 49
Asset utilization rating381 of 111317 of 49

Financial ratios

Funding ratiosSector median20232022202120202019
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
3%3%3%3%3%2%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
16%7%8%6%8%7%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
3%3%3%3%3%2%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
84%93%92%94%92%93%
 
Operating ratiosSector median20232022202120202019
Program expense ratio Program expense ratio =
Program services /
Total expenses
83%77%77%77%74%78%
Spending ratio Spending ratio =
Total expenses /
Total revenue
94%100%95%96%96%97%
Program output ratio Program output ratio =
Program services /
Total revenue
77%77%73%74%72%75%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
6%0%5%4%4%3%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
4%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 ratiosSector median20232022202120202019
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.490.580.560.580.550.55
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
3.153.213.293.142.972.85
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.591.871.831.831.621.57
 
Liquidity ratiosSector median20232022202120202019
Current ratio Current ratio =
Total current assets /
Total current liabilities
2.791.241.451.491.771.67
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.360.810.690.670.560.60
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
3.541.242.042.173.233.07
 
Solvency ratiosSector median20232022202120202019
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
147%56%61%54%52%51%

Financials

Balance sheet
 
Assets20232022202120202019
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
 
Liabilities20232022202120202019
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 assets20232022202120202019
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
 
Revenue20232022202120202019
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
 
Expenses20232022202120202019
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 assets20232022202120202019
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

NameTitleCompensation
David HaoHead of School$112,260
Marilyn HughesDirector of Finance$90,067
Lina DelgadoInterim 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]


History


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