The Veritas Forum Inc
The Veritas Forum Inc. shows strong revenue and asset growth, with a recent operating deficit in 2023.
EIN: 205616941 · Cambridge, MA · NTEE: X80 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $7.4M |
| Total Expenses | $6.4M |
| Program Spending | 75% |
| CEO/Top Officer Pay | $7,368,365. |
| Net Assets | $4.0M |
| Transparency Score | 85/100 |
Is The Veritas Forum Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Veritas Forum Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Veritas Forum Inc
The Veritas Forum Inc (EIN: 205616941) is a nonprofit organization based in Cambridge, MA, classified under NTEE code X80. The organization reported total revenue of $7.4M and total assets of $6.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Veritas Forum Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Veritas Forum Inc is a mid-size nonprofit that has been operating for 19 years, with 11 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 17.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.7M |
| Total Expenses | $6.4M |
| Surplus / Deficit | $-682,476 |
| Total Assets | $4.8M |
| Total Liabilities | $768K |
| Net Assets | $4.0M |
| Operating Margin | -11.9% |
| Debt-to-Asset Ratio | 16.1% |
| Months of Reserves | 8.9 months |
Financial Health Grade: B
In 2023, The Veritas Forum Inc reported a deficit of $682K with expenses exceeding revenue, holds 8.9 months of operating reserves (strong position), has a debt-to-asset ratio of 16.1% (very low leverage).
Financial Trends
Over 11 years of filings (2012–2023), The Veritas Forum Inc's revenue has grown at a compound annual growth rate (CAGR) of 17.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -3.7% | +42.7% | -8.6% |
| 2022 | +68.5% | +62.1% | +36.4% |
| 2021 | -2.6% | +3.2% | +32.1% |
| 2020 | +46.2% | -10.5% | +62.4% |
| 2019 | -23.8% | +42.7% | -26.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates The Veritas Forum Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, The Veritas Forum Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $682K, with expenses exceeding revenue.
- Debt-to-asset ratio: 16.1%.
Executive Compensation Analysis
The Veritas Forum Inc. consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size with latest revenue of $7,368,365. This either indicates that no officers receive compensation, or that compensation is reported under other expense categories, which would require further scrutiny for complete transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of The Veritas Forum Inc's IRS 990 filings:
- Operating deficit in the 202306 period ($6,412,736 expenses vs. $5,730,260 revenue)
- Consistent 0% officer compensation reported, which is unusual for an organization of this size and warrants further investigation into compensation practices.
Strengths
The following positive indicators were identified for The Veritas Forum Inc:
- Strong revenue growth from $1,462,547 in 2013 to $7,368,365 in the latest period.
- Significant asset growth from $561,130 in 2013 to $6,248,073 in the latest period.
- Relatively low liabilities compared to assets, indicating financial stability.
- Consistent financial reporting over 11 periods.
Frequently Asked Questions about The Veritas Forum Inc
Is The Veritas Forum Inc a legitimate charity?
The Veritas Forum Inc (EIN: 205616941) is a registered tax-exempt nonprofit based in Massachusetts. Our AI analysis gives it a Mission Score of 85/100. It has 11 years of IRS 990 filings on record. Total revenue: $7.4M. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does The Veritas Forum Inc spend its money?
The Veritas Forum Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to The Veritas Forum Inc tax-deductible?
The Veritas Forum Inc is registered as a tax-exempt nonprofit (EIN: 205616941). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the The Veritas Forum Inc CEO make?
The Veritas Forum Inc's highest-compensated officer earns $7,368,365. annually. The organization reported $7.4M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of The Veritas Forum Inc's spending goes to programs?
The Veritas Forum Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does The Veritas Forum Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), The Veritas Forum Inc is above average for NTEE category X80 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is The Veritas Forum Inc located?
The Veritas Forum Inc is headquartered in Cambridge, Massachusetts and files with the IRS under EIN 205616941. It is classified under NTEE code X80.
How many years of IRS 990 filings does The Veritas Forum Inc have?
The Veritas Forum Inc has 11 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $7.4M in total revenue.
Is The Veritas Forum Inc. a good charity?
Based on the provided data, The Veritas Forum Inc. demonstrates strong financial growth and asset accumulation over the past decade. While there was an operating deficit in 2023, the overall trend is positive. The consistent 0% officer compensation reported is a unique aspect that could be seen as a positive for resource allocation, but also warrants further investigation to understand the full compensation structure.
What caused the operating deficit in the 202306 period?
In the 202306 period, The Veritas Forum Inc. reported expenses of $6,412,736 against revenues of $5,730,260, resulting in an operating deficit. The specific causes are not detailed in the provided summary data, but could be due to increased program spending, one-time investments, or a temporary dip in donations.
How does The Veritas Forum Inc. manage executive compensation?
The IRS 990 filings consistently show 0% officer compensation for The Veritas Forum Inc. This is highly unusual for an organization of its scale and suggests that either no officers are compensated, or their compensation is categorized differently within the financial statements, which would require a deeper dive into the full 990 forms for clarification.
Filing History
IRS 990 filing history for The Veritas Forum Inc showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2012–2023), The Veritas Forum Inc's revenue has grown by 493.2%, moving from $966K to $5.7M. Total assets increased by 1265.5% over the same period, from $349K to $4.8M. Total functional expenses rose by 583.9%, from $938K to $6.4M. In its most recent filing year (2023), The Veritas Forum Inc reported a deficit of $682K, with expenses exceeding revenue. The organization holds $768K in liabilities against $4.8M in assets (debt-to-asset ratio: 16.1%), resulting in net assets of $4.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.7M | $6.4M | $4.8M | $768K | — | View 990 |
| 2022 | $6.0M | $4.5M | $5.2M | $533K | — | View 990 |
| 2021 | $3.5M | $2.8M | $3.8M | $601K | — | — |
| 2020 | $3.6M | $2.7M | $2.9M | $462K | — | View 990 |
| 2019 | $2.5M | $3.0M | $1.8M | $290K | — | View 990 |
| 2017 | $3.3M | $2.1M | $2.4M | $118K | — | View 990 |
| 2016 | $2.2M | $2.1M | $1.3M | $116K | — | View 990 |
| 2015 | $2.3M | $2.2M | $1.4M | $169K | — | View 990 |
| 2014 | $1.7M | $1.7M | $808K | $280K | — | View 990 |
| 2013 | $1.5M | $1.3M | $561K | $109K | — | View 990 |
| 2012 | $966K | $938K | $349K | $46K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.7M, expenses of $6.4M, and assets of $4.8M (revenue -3.7% year-over-year).
- 2022: Revenue of $6.0M, expenses of $4.5M, and assets of $5.2M (revenue +68.5% year-over-year).
- 2021: Revenue of $3.5M, expenses of $2.8M, and assets of $3.8M (revenue -2.6% year-over-year).
- 2020: Revenue of $3.6M, expenses of $2.7M, and assets of $2.9M (revenue +46.2% year-over-year).
- 2019: Revenue of $2.5M, expenses of $3.0M, and assets of $1.8M (revenue -23.8% year-over-year).
- 2017: Revenue of $3.3M, expenses of $2.1M, and assets of $2.4M (revenue +45.4% year-over-year).
- 2016: Revenue of $2.2M, expenses of $2.1M, and assets of $1.3M (revenue -1.3% year-over-year).
- 2015: Revenue of $2.3M, expenses of $2.2M, and assets of $1.4M (revenue +30.4% year-over-year).
- 2014: Revenue of $1.7M, expenses of $1.7M, and assets of $808K (revenue +18.9% year-over-year).
- 2013: Revenue of $1.5M, expenses of $1.3M, and assets of $561K (revenue +51.4% year-over-year).
- 2012: Revenue of $966K, expenses of $938K, and assets of $349K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Veritas Forum Inc:
Data Sources and Methodology
This transparency report for The Veritas Forum Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.