Veritas Catholic Network Inc

Analysis

Veritas Catholic Network Inc is a registered charity in United States, based in Stamford, CT. It received its IRS tax-exemption ruling in September 2018, 8 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Veritas Catholic Network Inc reported income of $279k and spending of $301k, spending 108% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $236k to $279k (+18%), an average of +5.8% a year. The sharpest change came in the year to December 2022, when income rose by 50%. Over the whole period it spent 97% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Veritas Catholic Network Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 58th percentile within CT. Charities of a similar size with the same main cause include Virgin Island International Islamic Society Inc ($279k), American Moslem Bekaa Center ($279k) and Association for the Promotion of Apostolate ($279k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 54% of the total. Compensation of current officers, directors and key employees was $158k (52% of expenses). Other salaries and wages came to $27k. At year end it held assets of $302k against liabilities of $0, net assets of $302k. It reported 2 employees.