Veritas Community Services Inc

Analysis

Veritas Community Services Inc is a registered charity in United States, based in Omaha, NE. It received its IRS tax-exemption ruling in February 2018, 8 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Veritas Community Services Inc reported income of $11.8m and spending of $11.3m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $270k to $11.8m (+4272%), an average of +157% a year. The sharpest change came in the year to December 2021, when income rose by 1449%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Veritas Community Services Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within NE. Charities of a similar size with the same main cause include Boston Latin School Association ($11.8m), Elevate Academy ($11.8m) and University of Baltimore Foundation Inc ($11.8m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $286k (2.5% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $2.2m against liabilities of $2.0m, net assets of $192k. It reported 148 employees.