Quick charity verification for Veritas Foundation (EIN: 202522960)
Verdict: Veritas Foundation appears trustworthy
90/100Mission Score
$2.7MRevenue
$7.9MAssets
2Red Flags
5Strengths
Red Flags
Significant revenue volatility, including negative revenue in 2022, which requires further investigation.
Lack of detailed spending breakdown (program, admin, fundraising) in the provided summary data, making it difficult to fully assess efficiency.
Strengths
Consistently low liabilities, often reported as $1, indicating strong financial health.
Zero reported officer compensation across all filings, suggesting a high commitment to mission-focused spending.
Substantial and stable asset base of nearly $8 million, providing financial security.
Very low expense ratio relative to revenue in recent years, particularly in 2023 ($326,454 expenses vs. $2,592,139 revenue).
Long filing history (10 filings) indicates consistent compliance and transparency.
Spending Breakdown
How Veritas Foundation allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Veritas Foundation
Is Veritas Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Veritas Foundation (EIN: 202522960) appears trustworthy. Mission Score: 90/100. 2 red flags identified, 5 strengths noted.
Is Veritas Foundation a good charity to donate to?
Veritas Foundation has a Mission Score of 90/100. Revenue: $2.7M. Assets: $7.9M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Veritas Foundation?
The Employer Identification Number (EIN) for Veritas Foundation is 202522960. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Veritas Foundation spend its money?
Veritas Foundation allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Veritas Foundation's tax-exempt status?
You can verify Veritas Foundation's tax-exempt status using EIN 202522960 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Veritas Foundation demonstrates strong financial health with substantial assets of $7,916,069 and a recent revenue of $2,674,565. The organization consistently reports minimal liabilities, often just $1, indicating a very healthy balance sheet. A notable strength is the consistently low expense ratio relative to revenue in recent years, particularly in 2023 where expenses were only $326,454 against $2,592,139 in revenue. This suggests efficient operations, though the specific breakdown of program, administrative, and fundraising expenses is not detailed in the provided data.
The organization's revenue has shown significant fluctuations, including a negative revenue of $-95,534 in 2022, which warrants further investigation to understand its cause. However, the rebound to $2.59 million in 2023 indicates resilience. The consistent reporting of 0% officer compensation across all filings suggests a high degree of financial transparency and a commitment to directing funds towards the mission rather than executive salaries. The organization's assets have remained relatively stable over the past decade, fluctuating between $5.5 million and $7.9 million, indicating sound asset management.