PROJECT VERITAS (EIN 272894856) - 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

2010

Legal Domicile

Principal Officer

JAMES O'KEEFE

Phone

9149082300

Tax Period

2021-01-01 to 2021-12-31

PROJECT VERITAS, founded in 2010, is a mid-sized nonprofit that reported $20.7M in total revenue in fiscal year 2021. Revenue decreased 6% compared to the prior year.

Mission

Investigate and expose corruption, dishonesty, self-dealing, waste, fraud, and other misconduct in both public and private institutions in order to achieve a more ethical and transparent society. Also engage in litigation to: protect, defend and expand human and civil rights secured by law, specifically First Amendment rights including promoting the free exchange of ideas in a digital world; combat and defeat censorship of any ideology; promote truthful reporting; and defend freedom of speech and association issues including the right to anonymity.

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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 (2021)

Revenue Breakdown

Contributions & Grants $21,001,777

Program Service Revenue $0

Investment Income $-578,707

Other Revenue $280,007

TOTAL REVENUE $20,703,077

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,080,492

Fundraising Expenses $932,372

Program Expenses $15,665,988

Other Expenses $14,361,740

TOTAL EXPENSES $20,626,622

Year-over-Year Comparison

	2021	2020	Change
Revenue	$20,703,077	$22,034,786	-0.1%
Expenses	$20,626,622	$14,355,329	+0.4%
Net Income	$76,455	$7,679,457	-1.0%

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

N/A

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

$1,473,996

Total Directors

$405,034

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES O'KEEFE	Chairman	50.00	Officer Director	$396,409	$8,625	$405,034
JERED EDE	CHIEF LEGAL OFF	50.00	Officer	$325,375	$8,185	$333,560
TOM O'HARA	CFO	50.00	Officer	$259,646	$0	$259,646
NANCY VADEN-YOUMANS	EXEC PRODUCER	40.00		$243,075	$5,715	$248,790
JOHN C SULLIVAN	CCO	50.00	Officer	$230,625	$7,824	$238,449
FREDDY MFUKO	PRODUCTION MANAGER	40.00		$198,743	$8,625	$207,368
RANDOLPH JOHN CESTONE	VP OF DEVELOPMENT	40.00		$204,317	$0	$204,317
VENESSA KEVERKAMP	COO	50.00	Officer	$183,594	$3,175	$186,769
JENNIFER KIYAK	HR DIRECTOR	50.00		$173,427	$8,625	$182,052
MICHAEL R SPADONE	DIR OF FIELD OPS	50.00		$137,263	$6,469	$143,732
JASON D KILLMEYER	COO	50.00	Officer	$47,759	$2,779	$50,538
MATTHEW TYRMAND	Director	1.00	Director	$0	$0	$0
JOHN K GARVEY	Director	1.00	Director	$0	$0	$0

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
2021	$20,703,077	$20,626,622	$12,805,361	$76,455
2020	$22,034,786	$14,355,329	$11,883,753	$7,679,457
2019	$12,151,496	$10,334,771	$3,565,101	$1,816,725
2018	$8,860,335	$9,696,338	$2,035,368	$-836,003

PROJECT VERITAS