Veritas Impact Partners

Nonprofit profile at a glance

EIN
831734762
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-N 2018
Location
Irving, TX, USA
Phone
6195208347
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing, Shelter N.E.C.

Official website

Reported finances

Revenue
$784,579
Expenses
$762,180
Assets
$293,856
Liabilities
$80,359

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

Leadership & pay

8 people listed

Executive titles in this filing

  • Paul Jay Newman (President)

Highest reported compensation

  • Yasmin Zambrano (Director): $139,972 total reported compensation
  • Sarahi Ruiz (Director): $82,179 total reported compensation

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

Overview

Mission

Veritas Impact Partners was formed to carry out its mission of providing supportive services and upward mobility. It delivers better health and wellness outcomes and opportunities to low-income and moderate-income individuals and families across the United States. This mission is achieved by fostering social services and resident programs in multifamily residential developments located in low-income and moderate-income communities.

What it reported doing in 2024

Health & Wellness: Delivering better health & wellness outcomes for individuals, families, and groups, including local program referrals through onsite activities. Jobs/Economic Advancement: Improving employable and marketable skills for working-age individuals to increase household revenues and decrease ongoing living expenses. Education: Improving learning abilities and aptitudes for families with children.

Operating model

Revenue model
Earned-program. 82% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 92
  • Accountability: 69
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.7%; rating input score 78
  • Program expense ratio: 80%; rating input score 80
  • Fundraising efficiency: $1.83 raised per $1 spent on fundraising; rating input score 5; 5th 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: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 2.9%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 0.39; rating input score 18; 18th percentile among comparable filings
  • Liabilities to assets ratio: 0.27; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 29.1%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 29.4% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 20.2% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 15.1% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 77.7% of revenue deployed · 80% of spending went to programs
  • Governance: 9 of 9 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $610K in reported program spending
  • Leadership: top reported pay $140K · 8 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 5/100.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • High — Sustainability: Total-asset coverage ratio scored 18/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.