The Veritas Forum 
The information on this page was last updated 3/26/2023. If you see errors or omissions, please email: [email protected]
Summary
We are an international community of students, faculty, campus ministers, and more, who are pursuing a vision of the university that seeks and stewards truth and invites people of all backgrounds to explore the ideas that shape our lives.
Contact information
Mailing address:
The Veritas Forum
PO Box 380807
Cambridge, MA 02238
Website: veritas.org
Phone: 617.491.2055
Email: [email protected]
Organization details
EIN: 205616941
CEO/President: Andrew Schuman
Chairman: Ben Chelf
Board size: 9
Founder:
Ruling year: 2007
Tax deductible: Yes
Fiscal year end: 06/30
Member of ECFA: Yes
Member of ECFA since: 2006
Purpose
The Veritas Forum is grounded and motivated by the historic Christian faith that seeks to love God and neighbor. We affirm the Nicene Creed, and we are ecumenical and invitational in our approach.
Mission statement
Statement of faith
Donor confidence score
Transparency grade
A
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Colleges/Universities
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 882 of 1106 | 105 of 129 |
| Fund acquisition rating | | 1097 of 1107 | 127 of 129 |
| Resource allocation rating | | 939 of 1107 | 105 of 129 |
| Asset utilization rating | | 210 of 1106 | 20 of 129 |
Financial ratios
| Funding ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 10% | 17% | 11% | 16% | 14% | 16% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 2% | 17% | 11% | 16% | 14% | 16% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 22% | 100% | 100% | 100% | 100% | 97% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 2% | 15% | 15% | 21% | 19% | 13% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 78% | 0% | 0% | 0% | 0% | 3% |
| Operating ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Program expense ratio Program expense ratio = Program services / Total expenses | 84% | 75% | 77% | 71% | 74% | 81% |
Spending ratio Spending ratio = Total expenses / Total revenue | 96% | 112% | 75% | 78% | 74% | 121% |
Program output ratio Program output ratio = Program services / Total revenue | 78% | 84% | 58% | 56% | 55% | 98% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 4% | -12% | 25% | 22% | 26% | -21% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 5% | -17% | 31% | 24% | 39% | -35% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 13% | 10% | 8% | 8% | 7% | 6% |
| Investing ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.51 | 1.35 | 0.86 | 0.73 | 0.93 | 1.69 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.64 | 1.00 | 1.00 | 1.00 | 1.01 | 1.01 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.40 | 1.35 | 0.86 | 0.73 | 0.93 | 1.70 |
| Liquidity ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Current ratio Current ratio = Total current assets / Total current liabilities | 8.60 | 6.20 | 9.77 | 10.04 | 10.36 | 6.06 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.12 | 0.16 | 0.10 | 0.10 | 0.10 | 0.16 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 7.34 | 7.48 | 12.49 | 14.90 | 11.62 | 5.88 |
| Solvency ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 24% | 16% | 10% | 16% | 16% | 16% |
Debt ratio Debt ratio = Debt / Total assets | 11% | 0% | 0% | 6% | 6% | 0% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 151% | 62% | 104% | 116% | 90% | 50% |
Financials
| Balance sheet | |||||
| Assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Cash | $3,591,648 | $4,190,365 | $3,594,665 | $2,600,702 | $1,110,792 |
| Receivables, inventories, prepaids | $1,172,244 | $1,021,608 | $226,919 | $276,543 | $649,783 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $4,763,892 | $5,211,973 | $3,821,584 | $2,877,245 | $1,760,575 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $0 | $0 | $0 | $128 | $935 |
| Other long-term assets | $0 | $0 | $0 | $15,024 | $19,440 |
| Total long-term assets | $0 | $0 | $0 | $15,152 | $20,375 |
| Total assets | $4,763,892 | $5,211,973 | $3,821,584 | $2,892,397 | $1,780,950 |
| Liabilities | 2023 | 2022 | 2021 | 2020 | 2019 |
| Payables and accrued expenses | $767,863 | $533,468 | $380,587 | $277,738 | $290,385 |
| Other current liabilities | $0 | $0 | $0 | $0 | $0 |
| Total current liabilities | $767,863 | $533,468 | $380,587 | $277,738 | $290,385 |
| Debt | $0 | $0 | $220,910 | $184,454 | $0 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $0 | $0 | $0 | $0 | $0 |
| Total long-term liabilities | $0 | $0 | $220,910 | $184,454 | $0 |
| Total liabilities | $767,863 | $533,468 | $601,497 | $462,192 | $290,385 |
| Net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Without donor restrictions | $1,917,501 | $2,099,258 | $1,078,314 | $775,860 | $147,973 |
| With donor restrictions | $2,078,528 | $2,579,247 | $2,141,773 | $1,654,345 | $1,342,592 |
| Net assets | $3,996,029 | $4,678,505 | $3,220,087 | $2,430,205 | $1,490,565 |
| Revenues and expenses | |||||
| Revenue | 2023 | 2022 | 2021 | 2020 | 2019 |
| Total contributions | $5,717,303 | $5,950,766 | $3,530,868 | $3,623,586 | $2,406,337 |
| Program service revenue | $449 | $696 | $710 | $752 | $1,594 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $49 | ($21) | $50 | $121 | $129 |
| Other revenue | $12,459 | $1,003 | $0 | $538 | $71,748 |
| Total other revenue | $12,957 | $1,678 | $760 | $1,411 | $73,471 |
| Total revenue | $5,730,260 | $5,952,444 | $3,531,628 | $3,624,997 | $2,479,808 |
| Expenses | 2023 | 2022 | 2021 | 2020 | 2019 |
| Program services | $4,801,796 | $3,473,799 | $1,975,310 | $1,975,743 | $2,422,886 |
| Management and general | $626,867 | $340,405 | $223,956 | $189,915 | $186,638 |
| Fundraising | $984,073 | $679,871 | $572,610 | $519,699 | $391,837 |
| Total expenses | $6,412,736 | $4,494,075 | $2,771,876 | $2,685,357 | $3,001,361 |
| Change in net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Surplus (deficit) | ($682,476) | $1,458,369 | $759,752 | $939,640 | ($521,553) |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | ($682,476) | $1,458,369 | $759,752 | $939,640 | ($521,553) |
Compensation
| Name | Title | Compensation |
| Andrew Schuman | Executive Director | $323,884 |
| Carol Fausnaught | Vice President | $205,000 |
| Michael Lee | Chief Operating Officer | $148,539 |
| Nathan Hatch | Trustee | $91,500 |
| Mark Campisano | Secretary | $80,000 |
Compensation data as of: 6/30/2023
Response from ministry
No response has been provided by this ministry.
The information below was provided to MinistryWatch by the ministry itself. It was last updated 3/26/2023. To update the information below, please email: [email protected]
History
Students, faculty, and chaplains at Harvard University planned the first Veritas Forum in 1992. Since then, 200+ universities in North America, Europe, and Asia have hosted 2,000+ Forums. Today, our work includes Forum events, student-run publications, original media content, and more.
Program accomplishments
Since its founding, The Veritas Forum has grown in depth and breadth.
200+ host universities
800,000+ event participants
25+ student journals
36m+ YouTube channel views