Veritas Catholic Network Inc (EIN 822807737) - 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

2018

Legal Domicile

Principal Officer

Steven Y Lee

Phone

2032498421

Tax Period

2023-01-01 to 2023-12-31

Veritas Catholic Network Inc, founded in 2018, is a small nonprofit in the Religion sector that reported $279K in total revenue in fiscal year 2023. Revenue fell 26% from the prior year — a significant decline worth monitoring.

Mission

To share the truth of the Gospel and fullness of the Catholic faith by broadcasting faithful and entertaining programs through media and community engagement.

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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 (2023)

Revenue Breakdown

Contributions & Grants $150,284

Program Service Revenue $0

Investment Income $0

Other Revenue $129,012

TOTAL REVENUE $279,296

Expense Breakdown

Grants Paid $0

Salaries & Benefits $236,445

Fundraising Expenses $27,399

Program Expenses $246,281

Other Expenses $64,637

TOTAL EXPENSES $301,082

Year-over-Year Comparison

	2023	2022	Change
Revenue	$279,296	$379,634	-0.3%
Expenses	$301,082	$345,571	-0.1%
Net Income	$-21,786	$34,063	-1.6%

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

$182,426

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Steven Y Lee	President & CEO	40.0	Officer	$157,590	$24,836	$182,426
John Mitchell	Chairman	3.0	Officer Director	$0	$0	$0
Bishop Frank J Caggiano	Director	1.0	Director	$0	$0	$0
Alex Russo	Diector	1.0	Director	$0	$0	$0
Erika Morro	Director	1.0	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
2024	No data	No data	No data	No data
2023	$279,296	$301,082	$302,033	$-21,786
2022	$379,634	$345,571	$335,485	$34,063
2021	$252,571	$236,634	$327,989	$15,937
2020	$236,127	$227,976	$351,192	$8,151

Veritas Catholic Network Inc