Veritas International University

Analysis

Veritas International University is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in February 2009, 17 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Veritas International University reported income of $486k and spending of $519k, spending 107% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $370k to $486k (+31%), an average of +5.6% a year. The sharpest change came in the year to December 2019, when income rose by 90%. Over the whole period it spent 96% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Veritas International University sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 68th percentile within NM. Charities of a similar size with the same main cause include Yeshiva Birkat Israel Inc ($486k), Pullman Islamic Association ($486k) and Realife Media Inc ($486k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 54% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $32k (6.2% of expenses). Other salaries and wages came to $189k. At year end it held assets of $313k against liabilities of $4,035, net assets of $309k. It reported 6 employees.