VERITE INC (EIN 043304538) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1996

Legal Domicile

Principal Officer

SHAWN MACDONALD

Phone

4132539227

Tax Period

2024-01-01 to 2024-12-31

VERITE INC, founded in 1996, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $11.8M in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year.

Mission

TO ENSURE THAT PEOPLE WORLDWIDE WORK UNDER SAFE, FAIR AND LEGAL WORKING CONDITIONS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $321,141

Program Service Revenue $11,483,336

Investment Income $6,999

Other Revenue $10,292

TOTAL REVENUE $11,821,768

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,483,662

Fundraising Expenses $26,365

Program Expenses $11,661,410

Other Expenses $7,188,523

TOTAL EXPENSES $12,672,185

Year-over-Year Comparison

	2024	2023	Change
Revenue	$11,821,768	$13,460,433	-0.1%
Expenses	$12,672,185	$12,766,824	0.0%
Net Income	$-850,417	$693,609	-2.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

$193,362

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARGARET KEY	DIRECTOR	1.00	Director	$0	$0	$0
MINAL PATEL DAVIS	DIRECTOR	1.00	Director	$0	$0	$0
SANDY TESCH WILKINS	DIRECTOR	1.00	Director	$0	$0	$0
MIREILLE GRANGENOIS	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN LIFSEC	TREASURER	1.00	Officer Director	$0	$0	$0
LIDDY MANSON	PRESIDENT	1.00	Officer Director	$0	$0	$0
ELIZABETH AKANBOMBIRE	DIRECTOR	1.00	Director	$0	$0	$0
KATIE FORD	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL VIEDERMAN	CLERK	1.00	Director	$0	$0	$0
DAVID LEVI	DIRECTOR	1.00	Director	$0	$0	$0
LAURA LEEDY GANSLER	DIRECTOR	1.00	Director	$0	$0	$0
DOUG CAHN	DIRECTOR	1.00	Director	$0	$0	$0
SHAWN MACDONALD	CHIEF EXECUTIVE OFFICER	35.00	Key Emp	$166,281	$27,081	$193,362
ELIZABETH GARLAND	CHEIF PROGRAM OFFICER	35.00	Highest	$137,729	$19,743	$157,472
GABRIELA DELGADILLA	CHEIF PROGRAM OFFICER	35.00	Highest	$137,729	$17,816	$155,545
MICHAEL VAUDREUIL	SENIOR PROGRAM DIRECTOR	35.00	Highest	$135,041	$19,638	$154,679
DECLAN CROUCHER	CHIEF COMMERCIAL OFFICER	35.00	Highest	$132,230	$21,631	$153,861

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$11,821,768	$12,672,185	$5,031,174	$-850,417
2023	$13,460,433	$12,766,824	$5,282,808	$693,609
2022	$9,956,684	$10,648,457	$5,458,819	$-691,773
2021	$10,354,968	$8,750,222	$6,111,457	$1,604,746
2020	$7,953,074	$8,333,157	$4,736,675	$-380,083
2019	$8,517,792	$9,462,257	$5,060,115	$-944,465
2018	$7,976,418	$7,502,790	$5,313,440	$473,628

VERITE INC