Veritas Foundation

Nonprofit profile at a glance

EIN
844123022
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Carnation, WA, USA
Phone
4257867707
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Philanthropy, Charity, Voluntarism Promotion

Official website

Reported finances

Revenue
$41,346
Expenses
$74,282
Assets
$25,639
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

People named in this filing

  • Hailey Roberts (Director)
  • Ken Diebner (Executive Dir.)
  • Ed Marlow (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Foundation's mission is to provide financial, material, and spiritual support to feed the hungry, shelter the poor, clothe the destitute, and bring God's Word to all parts of the World.

What it reported doing in 2024

Provided meals, clothing, shoes, toiletries, and educational materials to children and families in Sierra Leone. Covered healthcare expenses for more than 80 people as well.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 72% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 91
  • Transparency & Controls: 83
  • Accountability: 88
  • Sustainability: 30
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 88%; rating input score 88
  • Fundraising efficiency: $8.87 raised per $1 spent on fundraising; rating input score 51; 51st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 3 of 8 controls in place; rating input score 38
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Pass
    • May suspend future funding: Fail
    • Requires financial reports: Pass
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -79.7%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 0.35; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 7.4% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: -16.5% per year; rating input score 0; 23rd percentile among comparable filings
  • Asset growth: -11.9% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 88% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $65K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 4 filed schedules · includes major donors and foreign activity
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Transparency & Controls: Foreign activity oversight: 5 of 8 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 51/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 23/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • High — Growth: Asset growth scored 0/100.