Civic Intelligence

Project Veritas Action Fund

990 • Fiscal year 2017 • EIN 47-1809663

Sep 01, 2016 to Aug 31, 2017 • Filed on Jul 16, 2018

Organization ProfileWWW.PROJECTVERITASACTION.COM
1214 W Boston Post RoadMamaroneck, NY 10543

(914) 908-2300

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

84th percentile

0.47x

Higher debt load relative to assets than 84% of similar nonprofits.

2017 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

65th percentile

0.19x

Higher debt load relative to revenue than 65% of similar nonprofits.

2017 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2017

Net Margin

3rd percentile

-87%

Higher net margin than 3% of similar nonprofits.

2017 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

99th percentile

$322,729

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 45.4% of source-year revenue.

2017 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2017

Asset Growth

2nd percentile

-54%

Faster asset growth than 2% of similar nonprofits.

2017 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2015 to 2017

Revenue Growth

6th percentile

-37%

Faster revenue growth than 6% of similar nonprofits.

2017 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2015 to 2017

Balance Sheet
Liabilities / Assets84th percentile

Assets

Down

$290,454

Down $1,057,675 (-78%) from 2015

Net Assets

Down

$154,284

Down $1,073,761 (-87%) from 2015

Liabilities

Up

$136,170

Up $16,086 (+13%) from 2015

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin3rd percentile

Revenue

Down

$710,655

Down $1,104,785 (-61%) from 2015

Expenses

Up

$1,325,603

Up $738,208 (+126%) from 2015

Net Income

Down

-$614,948

Down $1,842,993 (-150%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2015: $1,348,129Liabilities 2015: $120,084Net Assets 2015: $1,228,0452015Assets 2017: $290,454Liabilities 2017: $136,170Net Assets 2017: $154,2842017Assets 2018: $523,407Liabilities 2018: $186,890Net Assets 2018: $336,5172018Assets 2019: $2,125,739Liabilities 2019: $1,121,999Net Assets 2019: $1,003,7402019Assets 2020: $2,778,529Liabilities 2020: $1,484,862Net Assets 2020: $1,293,6672020Assets 2021: $2,168,161Liabilities 2021: $871,044Net Assets 2021: $1,297,1172021Assets 2022: $2,905,223Liabilities 2022: $729,050Net Assets 2022: $2,176,1732022

Highlighted filing

2017

Assets$290,454
Liabilities$136,170
Net Assets$154,284
Open 2017 Filing

Operations Trend

Revenue Growth6th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$2.0M$0-$2.0MRevenue 2015: $1,815,440Expenses 2015: $587,395Net Income 2015: $1,228,0452015Revenue 2017: $710,655Expenses 2017: $1,325,603Net Income 2017: -$614,9482017Revenue 2018: $1,616,695Expenses 2018: $1,434,462Net Income 2018: $182,2332018Revenue 2019: $3,422,284Expenses 2019: $2,755,061Net Income 2019: $667,2232019Revenue 2020: $2,120,018Expenses 2020: $1,830,091Net Income 2020: $289,9272020Revenue 2021: $2,070,101Expenses 2021: $2,035,283Net Income 2021: $34,8182021Revenue 2022: $1,888,369Expenses 2022: $1,009,313Net Income 2022: $879,0562022

Highlighted filing

2017

Revenue$710,655
Expenses$1,325,603
Net Income-$614,948
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2016 to Aug 31, 2017
Signed
Jul 16, 2018
Return Version
2016v3.0
Gross Receipts
$710,655
Mission and Program Overview

Mission

To further the common good and general welfare of the citizens of the united states of america by conducting investigations into waste, fraud, corruption, dishonesty, self-dealing and other misconduct for the purpose of educating the public, stakeholders, policymakers, and community leaders in order to create a more ethical and transparent society.

To further the common good and general welfare of the citizens of the United States of America by conducting investigations into waste, fraud, abuse, corruption, dishonesty, self-dealing and other misconduct for the purpose of educating the public, stakeholders, policymakers, and community leaders in order to create a more ethical and transparent society.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,323,108$151,549▼ $1,171,559
Land, Buildings, and Equipment, Net-$132,579-
Prepaid Expenses and Deferred Charges$11,592$6,326▼ $5,266
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,334,700$290,454▼ $1,044,246
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$73,484$85,754▲ $12,270
Other Liabilities$491,984$50,416▼ $441,568
Total Liabilities$565,468$136,170▼ $429,298
Net Assets / Fund Balance
Unrestricted Net Assets$769,232$154,284▼ $614,948
Total Net Assets Fund Balance$769,232$154,284▼ $614,948
Total Liabilities and Net Assets / Fund Balance$1,334,700$290,454▼ $1,044,246

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$108,092$116$108,208
Other Land Buildings$13,059$238$13,297
Equipment$11,428$293$11,721
Compensation and Service Providers
Top Officer Pay99th percentile

Board Members and Trustees

NameTitle
JAMES O'KEEFE IIIPresident
George SkakelDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$710,655
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$710,655
Change in Net Assets
$-614,948

Audited Revenue Reconciliation

Revenue per Audited Statements
$710,655
Total Revenue per Audited Statements
$710,655
Total Revenue per Form 990
$710,655
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,325,603
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal$349,083$7,732-$356,815
Travel$87,561--$87,561
Insurance$6,646$68,454-$75,100
Fees for Services Other$49,554--$49,554
Fees for Services Accounting-$37,380-$37,380
Occupancy-$20,588-$20,588
Other Expenses$17,625$72,778-$17,625
All Other Expenses$7,136$7,372-$14,508
Office Expenses$1,356$281-$1,637
Depreciation Depletion-$647-$647
Total Functional Expenses$1,110,371$215,232$0$1,325,603

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,325,603
Total Expenses per Audited Statements$1,325,603
Total Expenses per Form 990$1,325,603
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due Affiliate$50,416
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“Officers and board members are provided with a copy of form 990 for review and discussion prior to filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“N/A”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Documents are made available upon request for inspection at the organizations office location.”

Filing and Contact Details

Filer

Filer Name
Project Veritas Action Fund
EIN
47-1809663
Phone
9149082300
Address
1214 W BOSTON POST ROAD, MAMARONECK, NY 10543

Signing Officer

Name
JAMES O'KEEFE III
Title
President
Signed
2018-07-16
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
Va
Voting Board Members
2
Independent Board Members
1
Employees
0

Preparer

Firm
Hulse & Associates PC
Address
350 Passaic Avenue, Fairfield, NJ 07004
Preparer
Edward L Hulse
Phone
9738825690
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OFFICERS AND BOARD MEMBERS ARE PROVIDED WITH A COPY OF FORM 990 FOR REVIEW AND DISCUSSION PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1N/A
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE MADE AVAILABLE UPON REQUEST FOR INSPECTION AT THE ORGANIZATIONS OFFICE LOCATION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0PROJECT VERITAS
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Informing & Educating the Public
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IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
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IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
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IRS990ScheduleR/TransferToOtherOrgInd0false
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01110371
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IRS990/TransactionWithControlEntInd0false
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IRS990/TravelGrp/TotalAmt087561
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0769232
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0154284
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0WWW.PROJECTVERITASACTION.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES O'KEEFE III
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-07-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PROJECT VERITAS ACTION FUND
ReturnHeader/Filer/BusinessNameControlTxt0PROJ
ReturnHeader/Filer/EIN0471809663
ReturnHeader/Filer/PhoneNum09149082300
ReturnHeader/Filer/USAddress/AddressLine1Txt01214 W BOSTON POST ROAD
ReturnHeader/Filer/USAddress/CityNm0MAMARONECK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010543
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Hulse & Associates PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0350 Passaic Avenue
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Fairfield
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd007004
ReturnHeader/PreparerPersonGrp/PhoneNum09738825690
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Edward L Hulse
ReturnHeader/ReturnTs02018-07-16T16:52:53-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-09-01
ReturnHeader/TaxPeriodEndDt02017-08-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$290,454
Liabilities
$136,170
Net assets
$154,284
Revenue
$710,655
Expenses
$1,325,603
Net income
-$614,948
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$2.91$0.73$2.18$1.89$1.01$0.88
2021Detailed filing. Detailed filing data is available for this year.$2.17$0.87$1.30$2.07$2.04$0.03
2020Detailed filing. Detailed filing data is available for this year.$2.78$1.48$1.29$2.12$1.83$0.29
2019Detailed filing. Detailed filing data is available for this year.$2.13$1.12$1.00$3.42$2.76$0.67
2018Detailed filing. Detailed filing data is available for this year.$0.52$0.19$0.34$1.62$1.43$0.18
2017Detailed filing. Detailed filing data is available for this year.$0.29$0.14$0.15$0.71$1.33$0.61
2015Detailed filing. Detailed filing data is available for this year.$1.35$0.12$1.23$1.82$0.59$1.23