Massachusetts · Nonprofit
VERITE INC
VERITE INC (Massachusetts) receives grants from 10 organizations whose IRS filings report $2,883,948 to it, the largest being WAL-MART FOUNDATION ($1,100,000). 7 of them have funded it in more than one year.
- Revenue FY2024
- $12M
- Funders on record
- 10
- Grants received
- $2.9M
- Net assets
- $2.9M
What Verite Inc does
Mission
To ensure that people worldwide work under safe, fair and legal working conditions.
As stated on its FY2024 Form 990.
Programs
Verite undertook 28 independent, high-quality, original research projects for 18 funders in 28 countries in 2024. These projects provided insights on key issues and challenges in responsible sourcing for partners across commodity, product, sector, and country levels while also bringing the perspective of workers to the forefront. Our unique, bottom-up approach to research provides partners with an objective view into the conditions of work in their supply chains with a focus on listening to and prioritizing those who know those conditions best workers.
$7,818,626 spent$7,818,626 earned by the program67% of program spendingVerite conducted 173 comprehensive audits, investigations, and screenings, including via our remote forced labor screening tool, cumulus, to provide 22 companies with crucial insights into working conditions in their supply chains across 24 countries. Focusing on some of the most difficult labor and human rights issues including forced labor, human trafficking, and child labor these interventions center the voice of workers to allow us to identify the root cause of noncompliance, producing an end product that not only identifies issues but also produces actionable recommendations to address noncompliance sustainably.
$2,076,456 spent$1,923,330 earned by the program18% of program spendingVerite completed 86 consulting engagements, guiding 26 different partners in 19 counties through processes which strengthened their commitment and adherence to prevailing human rights due diligence principles. Our broad expertise across multiple industries allowed us to support a variety of clients as they integrated these principles into aspects of their work such as strategic planning, sourcing decisions, and cascading accountability across their value chains - always with a focus on mitigating risk for the business and identifying, remediating, and preventing risk for workers.
$1,519,140 spent$1,517,891 earned by the program13% of program spendingVerite's training center designed and delivered 26 unique training courses for stakeholders at all levels of the value chain in 2024. The organization also worked to affect changes at the government and policy level. Last year we provided technical assistance to governments interested in improving their work in relation to issues such as forced labor, child labor, and human trafficking, while also participating in multiple policy focused initiatives and coalitions that promote human and labor rights policy.
$247,188 spent$223,489 earned by the program2% of program spending
The 4 programs described on its FY2024 Form 990, listed largest first by expense. Program spending in total: $11,661,410.
The organization over time
Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2020 to 2021, from $4.7M to $6.1M (+29%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
Government-grant reliance: 2020 8% · 2021 6%. Grants only. Government contracts and fees sit inside program revenue.
3% of VERITE INC’s revenue is contributions — more earned-revenue than three-quarters of its peers (58% for the typical peer).
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 4 of the last 8 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
Chief executive
Shawn Macdonald
Chief executive officer
As listed on its FY2024 Form 990.
Who funds it, year by year
2017 → 2023: the base held at 3 funders, grant income fell $581k → $192k.
From the IRS filings of VERITE INC’s funders (the co-funder graph). Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
VERITE INC leans on a few funders — its largest provides 38% of grant income and the top three 83%; half comes from just 2 funders.
the vertical line marks half of all grant income — 2 funders to its left
Largest funder’s share by year: 2017 66% · 2018 100% · 2019 71% · 2020 83% · 2021 80% · 2022 100% · 2023 53% — diversifying over time.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How long its funders stay
17% of VERITE INC's funders are still giving 3 years after their first grant; 70% give in more than one year at all.
Share of funders still giving k years after their first recorded grant, pooled across every acquisition cohort. A funder counts as retained in a year only if it made a grant that year. Measured to FY2023, the last fiscal year that has finished arriving — a funder cannot be counted as lapsed in a year most filers have not reached.
Where its funders are
VERITE INC draws 100% of its grant income from funders outside Massachusetts, across 5 states in all.
In-state vs out-of-state, by year
Funder states come from each funder’s own filing. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Against its field
VERITE INC's revenue grew 47% between 2017 and 2024.
this organization peer median middle 50% of peers· 772 arts & culture nonprofits $10M–$100M, FY2024
Government funding VERITE INC receives
Grants and contracts to this organization from federal (USASpending) and state checkbooks, reconciled to its EIN. $32.1M on record.
- Department of Labor$29.4M
- Department of State$2.5M
- Department of Transportation$200k
Federal grants vs contracts are distinguished; state line items keep their reported category. Matched by name + geography (the BMF), so coverage is partial and precision-first.
Organizations like VERITE INC
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In Massachusetts
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Where the money goes
92% of spending goes to programs.
Governance
Public support
39%
Share of support from the public (Schedule A) — the basis for its public-charity status.
Footprint & structure
Files a return copy in 1 state
Screen this organization
A dated, signed PDF of the compliance screen for VERITE INC: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds VERITE INC?
- VERITE INC (Massachusetts) receives grants from 10 organizations whose IRS filings report $2,883,948 to it, the largest being WAL-MART FOUNDATION ($1,100,000). 7 of them have funded it in more than one year.
- How many funders does VERITE INC have?
- IRS filings report 10 organizations giving $2,883,948 in grants to VERITE INC, 7 of which have funded it in more than one year.
- Who is the largest funder of VERITE INC?
- WAL-MART FOUNDATION is the largest funder on record, with $1,100,000 in grants. The full list of funders is on this page.
- How can an organization like VERITE INC find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in Massachusetts. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
Play a game about who funds Verite →
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2024 (financials across 2017–2024), and the filings of 10 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 14, 2026. What this page cannot tell you · view filing