Civic Intelligence

Veritas Impact Partners

990 • Fiscal year 2023 • EIN 83-1734762

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

Organization Profilewww.veritasimpact.org
PO Box 153013Irving, TX 75015

(619) 520-8347

Siviq Scores

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

Liabilities / Assets

67th percentile

0.19x

Higher debt load relative to assets than 67% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

39th percentile

0.04x

Higher debt load relative to revenue than 39% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

26th percentile

-7.7%

Higher net margin than 26% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

83rd percentile

$148,367

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 14.5% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

3rd percentile

-41%

Faster asset growth than 3% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

24th percentile

-12%

Faster revenue growth than 24% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets67th percentile

Assets

Down

$211,113

Down $146,034 (-41%) from 2022

Net Assets

Down

$170,224

Down $181,187 (-52%) from 2022

Liabilities

Up

$40,889

Up $35,153 (+613%) from 2022

Revenue And Expenses
Liabilities / Revenue39th percentileNet Margin26th percentile

Revenue

Down

$1,024,438

Down $134,268 (-12%) from 2022

Expenses

Up

$1,103,828

Up $201,696 (+22%) from 2022

Net Income

Down

-$79,390

Down $335,964 (-131%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

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

$400K$300K$200K$100K$0Assets 2019: $96,563Liabilities 2019: $564Net Assets 2019: $95,9992019Assets 2020: $186,817Liabilities 2020: $6,904Net Assets 2020: $179,9132020Assets 2021: $100,528Liabilities 2021: $5,691Net Assets 2021: $94,8372021Assets 2022: $357,147Liabilities 2022: $5,736Net Assets 2022: $351,4112022Assets 2023: $211,113Liabilities 2023: $40,889Net Assets 2023: $170,2242023Assets 2024: $293,856Liabilities 2024: $80,359Net Assets 2024: $213,4972024

Highlighted filing

2023

Assets$211,113
Liabilities$40,889
Net Assets$170,224
Open 2023 Filing

Operations Trend

Revenue Growth24th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2019: $262,413Expenses 2019: $103,914Net Income 2019: $158,4992019Revenue 2020: $373,145Expenses 2020: $289,231Net Income 2020: $83,9142020Revenue 2021: $326,356Expenses 2021: $411,432Net Income 2021: -$85,0762021Revenue 2022: $1,158,706Expenses 2022: $902,132Net Income 2022: $256,5742022Revenue 2023: $1,024,438Expenses 2023: $1,103,828Net Income 2023: -$79,3902023Revenue 2024: $784,579Expenses 2024: $762,180Net Income 2024: $22,3992024

Highlighted filing

2023

Revenue$1,024,438
Expenses$1,103,828
Net Income-$79,390
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.1
Gross Receipts
$1,062,192
Mission and Program Overview

Mission

Veritas Impact Partners was formed to carry out its mission of providing supportive services and upward mobility. It delivers better health and wellness outcomes and opportunities to low-income and moderate-income individuals and families across the United States. This mission is achieved by fostering social services and resident programs in multifamily residential developments located in low-income and moderate-income communities.

Provide social services and resident programs to low to moderate income families.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$173,359$114,354▼ $59,005
Cash and Non-Interest-Bearing Accounts$183,788$96,757▼ $87,031
Savings and Temporary Cash Investments-$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-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$357,147$211,113▼ $146,034
Other Assets Total-$2-
Liabilities
Accounts Payable and Accrued Expenses$5,736$40,889▲ $35,153
Total Liabilities$5,736$40,889▲ $35,153
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$351,411$157,022▼ $194,389
Net Assets With Donor Restrictions-$13,202-
Total Net Assets Fund Balance$351,411$170,224▼ $181,187
Total Liabilities and Net Assets / Fund Balance$357,147$211,113▼ $146,034
Compensation and Service Providers
Top Officer Pay83rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jennifer SearlesCEOFT$148,367$148,367
Yasmin ZambranoDirectorFT$70,793$70,793

Board Members and Trustees

NameTitle
Anthony TarterChairman
Antonio MarquezChairman
Rakesh PatelVice President
Lisa DavisDirector
Rachel MarquezDirector
Ron KlabundleDirector
Sheri ThompsonDirector
JP NewmanCFO
Jeanne JenkinsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$277,101
Program Service Revenue
$632,254
Investment Income
$0
Other Revenue
$115,083
All Other Contributions
$277,101
Change in Net Assets
$-79,390
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$692,714
Other Expenses$411,114
Total Fundraising Expense$110,380
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$335,672$41,959$41,959$419,590
Fees for Services Other$239,712$29,964$29,964$299,640
Current Officers, Directors, Trustees, and Key Employees$175,328$21,917$21,915$219,160
Conferences and Meetings$47,226$5,904$5,903$59,033
Payroll Taxes$38,298$4,788$4,787$47,873
Advertising$19,413$2,427$2,426$24,266
Fees for Services Accounting$11,588$1,449$1,448$14,485
Office Expenses$10,000$1,250$1,250$12,500
Other Employee Benefits$4,873$609$609$6,091
Other Expenses$129$16$16$161
Total Functional Expenses$883,062$110,386$110,380$1,103,828
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$152,837
Fundraising Direct Expenses$37,754
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraising Event$152,837$152,837$3,646$149,191
Total Events$152,837$152,837$37,754$115,083
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-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
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, Section B, Line 11B

“No review was or will be conducted.”

Form 990, Part VI, Section B, Line 12C

“The organization's conflict of interest policy covers directors, principal officers, and members of a committee with board-delegated powers who have a direct or indirect financial interest that the appropriate governing committee deems a conflict of interest. In connection with any actual or possible conflict of interest, the interested person must disclose all material facts to the governing board. After disclosure of the financial interest and all material facts, the interested person shall leave the governing board meeting while the determination of a conflict of interest is discussed and voted upon. Each director, principal officer, and member of a committee with governing board-delegated powers shall annually sign a statement affirming that such person received a copy of the conflict of interest policy, has read and understands the policy, has agreed to comply with the policy, and understands the organization is charitable and, in order to maintain its federal tax exemption, it must engage primarily in activities that accomplish one or more of its tax-exempt purposes.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Veritas Impact Partners
EIN
83-1734762
Phone
6195208347
Address
PO Box 153013, Irving, TX 75015

Signing Officer

Name
Yasmin Zambrano
Title
Director
Signed
2024-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Antonio Marquez
Formed
2018
Legal Domicile
TX
Voting Board Members
9
Independent Board Members
9
Employees
13
Volunteers
10

Preparer

Firm
Hale CPA Group
Address
8809 SUTTON DR, FRISCO, TX 75035
Preparer
Cassie Hale
Phone
5125223460
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Restricted funds- released = -$101797”

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IRS990/MissionDesc0Veritas Impact Partners was formed to carry out its mission of providing supportive services and upward mobility. It delivers better health and wellness outcomes and opportunities to low-income and moderate-income individuals and families across the United States. This mission is achieved by fostering social services and resident programs in multifamily residential developments located in low-income and moderate-income communities.
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01250
IRS990/OfficeExpensesGrp/ProgramServicesAmt010000
IRS990/OfficeExpensesGrp/TotalAmt012500
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt02
IRS990/OtherChangesInNetAssetsAmt0-101797
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt0609
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0609
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt04873
IRS990/OtherEmployeeBenefitsGrp/TotalAmt06091
IRS990/OtherExpensesGrp/Desc0Bank fees
IRS990/OtherExpensesGrp/Desc1Postage
IRS990/OtherExpensesGrp/Desc2Taxes & licenses
IRS990/OtherExpensesGrp/FundraisingAmt079
IRS990/OtherExpensesGrp/FundraisingAmt124
IRS990/OtherExpensesGrp/FundraisingAmt216
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt079
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt124
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt216
IRS990/OtherExpensesGrp/ProgramServicesAmt0631
IRS990/OtherExpensesGrp/ProgramServicesAmt1192
IRS990/OtherExpensesGrp/ProgramServicesAmt2129
IRS990/OtherExpensesGrp/TotalAmt0789
IRS990/OtherExpensesGrp/TotalAmt1240
IRS990/OtherExpensesGrp/TotalAmt2161
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt041959
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt041959
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0335672
IRS990/OtherSalariesAndWagesGrp/TotalAmt0419590
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt04787
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04788
IRS990/PayrollTaxesGrp/ProgramServicesAmt038298
IRS990/PayrollTaxesGrp/TotalAmt047873
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Antonio Marquez
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0Program services
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0632254
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0632254
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01158706
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0346449
IRS990/PYRevenuesLessExpensesAmt0256574
IRS990/PYSalariesCompEmpBnftPaidAmt0555683
IRS990/PYTotalExpensesAmt0902132
IRS990/PYTotalRevenueAmt01158706
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-79390
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0960395
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01158706
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0320387
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0378936
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0262413
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03080837
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0637950
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportTotal170Amt02406110
IRS990ScheduleA/SubstantialContributorsTotAmt0674727
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0960395
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01158706
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0320387
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0378936
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0262413
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03080837
IRS990ScheduleA/TotalSupportAmt03080837
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleG/AgrmtProfFundraisingActyInd0false
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt037754
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0Fundraising Event
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt017929
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt017929
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0152837
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0152837
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt0152837
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0152837
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0115083
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt03646
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt03646
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt016179
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt016179
IRS990ScheduleG/SpecialFundraisingEventsInd0X
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The organization's conflict of interest policy covers directors, principal officers, and members of a committee with board-delegated powers who have a direct or indirect financial interest that the appropriate governing committee deems a conflict of interest. In connection with any actual or possible conflict of interest, the interested person must disclose all material facts to the governing board. After disclosure of the financial interest and all material facts, the interested person shall leave the governing board meeting while the determination of a conflict of interest is discussed and voted upon. Each director, principal officer, and member of a committee with governing board-delegated powers shall annually sign a statement affirming that such person received a copy of the conflict of interest policy, has read and understands the policy, has agreed to comply with the policy, and understands the organization is charitable and, in order to maintain its federal tax exemption, it must engage primarily in activities that accomplish one or more of its tax-exempt purposes.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Restricted funds- released = -$101797
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part XI, Line 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0357147
IRS990/TotalAssetsEOYAmt0211113

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$211,113
Liabilities
$40,889
Net assets
$170,224
Revenue
$1,024,438
Expenses
$1,103,828
Net income
-$79,390
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.29$0.08$0.21$0.78$0.76$0.02
2023Detailed filing. Detailed filing data is available for this year.$0.21$0.04$0.17$1.02$1.10$0.08
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.36$0.01$0.35$1.16$0.90$0.26
2021Detailed filing. Detailed filing data is available for this year.$0.10$0.01$0.09$0.33$0.41$0.09
2020Detailed filing. Detailed filing data is available for this year.$0.19$0.01$0.18$0.37$0.29$0.08
2019Detailed filing. Detailed filing data is available for this year.$0.10$0.00$0.10$0.26$0.10$0.16