The Verity Charitable Fund Inc

Analysis

The Verity Charitable Fund Inc is a registered charity in United States, based in Moorestown, NJ. It received its IRS tax-exemption ruling in November 2018, 8 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, The Verity Charitable Fund Inc reported income of $162.8m and spending of $387k, leaving 100% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $10.6m to $162.8m (+1437%), an average of +98% a year. The sharpest change came in the year to December 2021, when income rose by 384%. Over the whole period it spent 0.5% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, The Verity Charitable Fund Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within NJ. Charities of a similar size with the same main cause include Boston Foundation Inc ($161.3m), Orange County Community Foundation ($166.6m) and Community Foundation of Tampa Bay Inc ($160.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% of the total. Other salaries and wages came to $131k. At year end it held assets of $414.8m against liabilities of $0, net assets of $414.8m. It reported 1 employees.