Civic Intelligence

Project Veritas Action Fund

990 • Fiscal year 2021 • EIN 47-1809663

Sep 01, 2020 to Aug 31, 2021 • Filed on Jul 15, 2022

Organization ProfileWWW.PROJECTVERITASACTION.COM
1214 W Boston Post Road 156Mamaroneck, NY 10543

(914) 908-2300

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.40x

Higher debt load relative to assets than 82% of similar nonprofits.

2021 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

72nd percentile

0.42x

Higher debt load relative to revenue than 72% of similar nonprofits.

2021 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2021

Net Margin

30th percentile

1.7%

Higher net margin than 30% of similar nonprofits.

2021 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

61st percentile

$0

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2021

Asset Growth

5th percentile

-22%

Faster asset growth than 5% of similar nonprofits.

2021 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

31st percentile

-2.4%

Faster revenue growth than 31% of similar nonprofits.

2021 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Down

$2,168,161

Down $610,368 (-22%) from 2020

Net Assets

Up

$1,297,117

Up $3,450 (+0.3%) from 2020

Liabilities

Down

$871,044

Down $613,818 (-41%) from 2020

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin30th percentile

Revenue

Down

$2,070,101

Down $49,917 (-2.4%) from 2020

Expenses

Up

$2,035,283

Up $205,192 (+11%) from 2020

Net Income

Down

$34,818

Down $255,109 (-88%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth5th 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

2021

Assets$2,168,161
Liabilities$871,044
Net Assets$1,297,117
Open 2021 Filing

Operations Trend

Revenue Growth31st 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

2021

Revenue$2,070,101
Expenses$2,035,283
Net Income$34,818
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2020 to Aug 31, 2021
Signed
Jul 15, 2022
Return Version
2020v4.0
Gross Receipts
$2,070,101
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$2,617,971$1,980,297▼ $637,674
Land, Buildings, and Equipment, Net$151,200$141,001▼ $10,199
Prepaid Expenses and Deferred Charges$22,340$37,363▲ $15,023
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$2,793,511$2,168,161▼ $625,350
Other Assets Total$2,000$9,500▲ $7,500
Liabilities
Other Liabilities$1,450,626$708,384▼ $742,242
Accounts Payable and Accrued Expenses$80,586$162,660▲ $82,074
Total Liabilities$1,531,212$871,044▼ $660,168
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,262,299$1,297,117▲ $34,818
Total Net Assets Fund Balance$1,262,299$1,297,117▲ $34,818
Total Liabilities and Net Assets / Fund Balance$2,793,511$2,168,161▼ $625,350

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$128,136$14,692$142,828
Equipment$5,692$11,229$16,921
Other Land Buildings$7,173$8,303$15,476
Compensation and Service Providers
Top Officer Pay61st percentile

Board Members and Trustees

NameTitle
JAMES O'KEEFE IIIPresident
George SkakelDirector
Joseph BartonDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Barr & Klein PllcLegal1629K ST NW STE 300, Washington, DC 20006$186,943
Cali Law LLCLegal14 NORTHEAST 1ST AVE, Miami, FL 33132$153,419
Revenue and Support

Revenue Composition

Contributions and Grants
$2,069,995
Program Service Revenue
$0
Investment Income
$106
Other Revenue
$0
All Other Contributions
$2,069,995
Change in Net Assets
$34,818

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,070,101
Total Revenue per Audited Statements
$2,070,101
Total Revenue per Form 990
$2,070,101
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,945,283
Professional Fundraising Fees$90,000
Total Fundraising Expense$90,000
Grants and Similar Amounts Paid$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$216,745$367,291-$584,036
Fees for Services Legal$341,039$70,831-$411,870
Travel$263,106--$263,106
Interest-$237,115-$237,115
Insurance$5,572$143,639-$149,211
Fees for Services Professional Fundraising--$90,000$90,000
Occupancy-$44,619-$44,619
Office Expenses$2,286$10,508-$12,794
Fees for Services Accounting-$11,999-$11,999
Depreciation Depletion-$10,198-$10,198
Other Expenses$184,835$1,257-$1,257
All Other Expenses$611--$611
Total Functional Expenses$1,014,194$931,089$90,000$2,035,283

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,035,283
Total Expenses per Audited Statements$2,035,283
Total Expenses per Form 990$2,035,283
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$90,000
Political and Lobbying Activity
Political campaign 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 Affiliates$708,384
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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 156, MAMARONECK, NY 10543

Signing Officer

Name
JAMES O'KEEFE III
Title
President
Signed
2022-07-15
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
Va
Voting Board Members
3
Independent Board Members
2
Employees
0

Preparer

Firm
Hulse & Associates PC
Address
350 Passaic Avenue, Fairfield, NJ 07004
Preparer
Edward L Hulse
Phone
9738825690
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,168,161
Liabilities
$871,044
Net assets
$1,297,117
Revenue
$2,070,101
Expenses
$2,035,283
Net income
$34,818
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