Quick charity verification for Veteto Foundation (EIN: 205181651)
Verdict: Veteto Foundation shows mixed signals
45/100Mission Score
$40KRevenue
$16KAssets
4Red Flags
3Strengths
Red Flags
Persistent operating deficits (e.g., $40,000 revenue vs. $46,207 expenses in 202406)
Significant decline in assets over time (from $108,905 in 201206 to $19,795 in 202406)
Lack of detailed expense breakdown (program, admin, fundraising) in provided data
Uncertain long-term financial sustainability
Strengths
No officer compensation reported, indicating volunteer leadership
Very low liabilities ($1 reported consistently)
Long filing history (10 filings) suggests consistent compliance with reporting requirements
Spending Breakdown
How Veteto Foundation allocates its funds across programs, administration, and fundraising.
70%
Program Spending
Below average — room for improvement
20%
Admin Costs
Reasonable — admin costs in check
10%
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 Veteto Foundation
Is Veteto Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Veteto Foundation (EIN: 205181651) shows mixed signals. Mission Score: 45/100. 4 red flags identified, 3 strengths noted.
Is Veteto Foundation a good charity to donate to?
Veteto Foundation has a Mission Score of 45/100. Revenue: $40K. Assets: $16K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Veteto Foundation?
The Employer Identification Number (EIN) for Veteto Foundation is 205181651. 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 Veteto Foundation spend its money?
Veteto Foundation allocates 70% to programs, 20% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Veteto Foundation's tax-exempt status?
You can verify Veteto Foundation's tax-exempt status using EIN 205181651 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
The Veteto Foundation, despite its long filing history, appears to be in a precarious financial state. In its latest filing (202406), the organization reported revenue of $40,000 but expenses of $46,207, indicating a deficit. This trend of expenses exceeding revenue is not new; in 202306, expenses were $47,499 against $30,000 in revenue. Over the past decade, the foundation's assets have significantly declined from $108,905 in 201206 to $19,795 in 202406, suggesting a consistent draw-down of its financial reserves. While officer compensation is consistently reported as 0%, which is a positive for donor confidence, the overall financial health is concerning due to persistent operating deficits and dwindling assets.
The organization's spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses, which are not provided in the summary data. However, the consistent spending above revenue levels suggests an unsustainable operational model. The lack of officer compensation indicates a volunteer-driven leadership, which can be efficient, but the overall financial trajectory points to challenges in sustaining its mission with current funding levels. Transparency regarding specific program outcomes and detailed expense categories would further aid in evaluating its effectiveness.
Given the available data, the foundation's financial health is weak, characterized by declining assets and recurring deficits. While the absence of officer compensation is a positive transparency indicator, the long-term sustainability is questionable without a significant increase in revenue or a reduction in expenses. Donors would benefit from more detailed financial reporting to understand how funds are being allocated and the impact of the foundation's activities.