Overview
What is Verite Inc?
Verite Inc, based in Amherst, Massachusetts, is a nonprofit organization dedicated to ensuring safe, fair, and legal working conditions for people worldwide. They accomplish this mission through 21 original research projects funded by 13 organizations across various countries. Verite's unique approach involves leveraging grassroots access to provide an unbiased, bottom-up perspective on labor conditions at the commodity, product, sector, and country levels. With a team of 54 employees, this organization plays a significant role in promoting responsible supply chain sourcing by addressing key issues and challenges in this field.
Official website here: www.verite.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Verite Inc has received a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The charity's overall score is based entirely on this beacon score, indicating a significant commitment to transparent and responsible financial practices. The evaluation highlights that Verite Inc has a fully independent board and robust financial oversight, which contributes positively to its credibility.
The organization excels in maintaining a high percentage of program expenses, with nearly 95% of its funds allocated directly to programs. This efficiency in resource allocation demonstrates a strong focus on fulfilling its mission rather than administrative costs. Additionally, the charity has implemented multiple governance policies, including conflict of interest and whistleblower policies, which further solidify its commitment to ethical management.
While the ratings are exceptionally high, it's essential for potential donors to continue monitoring the charity's activities and financial health over time. Overall, Verite Inc stands out as a reliable nonprofit with strong governance and a clear dedication to its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Verite Inc legitimate?
Verite Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Verite Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $177,171
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,102,074
For more financial information, click here
Official website here: www.verite.org
What is the mission statement of Verite Inc?
Verite Inc's mission is centered around ensuring that people worldwide work under safe, fair, and legally acceptable working conditions. The organization carries out this mission by conducting independent, high-quality research projects for various funders in various countries. These projects provide original insights into key issues and challenges associated with responsible supply chain sourcing. Leveraging its grassroots access, Verite offers a unique, bottom-up, objective view of labor conditions at various levels, including commodities, products, sectors, and countries.
Official website here: www.verite.org
Who is the CEO of Verite Inc?
Shawn Macdonald is the Director of Verite Inc. The CEO's salary of Verite Inc is $150,208 and their total compensation is $177,172.
Official website here: www.verite.org
What is the revenue of Verite Inc?
Verite Inc's revenue in 2022 was $9,956,684.
Official website here: www.verite.org
Who are the executives of Verite Inc and what are their salaries?
The average compensation at Verite Inc during 2022 was $60,727. There are 54 employees and 30 volunteers at Verite Inc.
Here are 14 key members and their salaries (Verite Inc's CEO's salary is $150,208 and their total compensation is $177,172):
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- Compensation: $150,208
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- Other: $26,964
- Compensation: $122,510
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- Compensation: $120,000
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- Other: $22,448
- Compensation: $125,000
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- Other: $20,455
- Compensation: $125,000
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- Other: $11,038
Official website here: www.verite.org
Where can I find the form 990 for Verite Inc?
Verite Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.verite.org
Learn more at the official website: www.verite.org
Mission Statement of Verite Inc
Verite Inc, a renowned organization, is committed to ensuring that individuals worldwide work under safe, fair, and legal working conditions. By undertaking numerous original research projects, Verite Inc aims to shed light on key issues and challenges in responsible supply chain sourcing. Leveraging their grassroots access, they provide an objective, bottom-up view of labor conditions at various levels, including commodities, products, sectors, and countries. This approach enables Verite Inc to contribute significantly to promoting safe, fair, and legal working conditions globally.
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Impact
July, 2024
Verite Inc's impact lies in ensuring that people worldwide work under safe, fair, and legal working conditions. Through their independent and high-quality research projects, Verite provides original insights on key issues and challenges in responsible supply chain sourcing. By leveraging their grassroots access, they offer a unique, bottom-up, and objective view of labor conditions at various levels such as commodity, product, sector, and country. Their work contributes to promoting ethical labor practices and improving the lives of workers globally.
This information is meant to be a general summary of Verite Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,363
- Program Service Revenue: $9,630,645
- Gross Receipts: $9,956,684
Assets and Liabilities:
- Total Assets: $5,458,819
- Total Liabilities: $2,374,234
- Net Assets: $3,084,585
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICE FEES
Revenue
$9,630,645
Organization Details
Founding Year
1996
Phone
(413) 253-9227Principal Officer
Shawn Macdonald
Main Address
44 BELCHERTOWN ROAD, AMHERST, MA, 01002
Website
www.verite.orgNTEE Category
Code: A05 - Arts
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