Veritas Foundation

Foundation · Grantmaker Plymouth, MN EIN: 20-2522960

Veritas Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Plymouth, MN. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $7.9M in total assets. In 2024, it awarded 7 grants totaling $369K. Net investment income was $419K.

Key facts about Veritas Foundation

EIN: 20-2522960
Latest 990 filing: Form 990-PF, 2024
Annual giving (2024): $369,000
Grants made (2024): 7
Average grant: $52,714
Median grant: $50,000
Total assets: $7,916,069
Primary geography: Minnesota (98% of itemized 2024 grant dollars)

Data from IRS Form 990-PF, 2024; updated September 2026.

Who Veritas Foundation funds

By grant dollars, the top recipient states for Veritas Foundation's 7 itemized 2024 grants were Minnesota (98%). The most frequent recipient cities were Duluth, MN (2 grants) and Minneapolis, MN (2 grants). 100% of grants with a stated purpose were for general or operating support.

How Veritas Foundation gives

Giving grew 74% from 2021 to 2024. Method
In 2024 it paid out 98% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method

From the foundation's IRS Form 990-PF filings. Methodology.

Next steps with Veritas Foundation

How to evaluate Veritas Foundation as a funder
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Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$7.9M

-0.1% YoY

Annual Giving

$369K

+15.9% YoY

Grant Count

+16.7% YoY

Avg Grant Size

$53K

-0.7% YoY

Under IRS private-foundation payout rules, Veritas Foundation reported a distributable amount of $376K for 2024 — the minimum it must pay out in qualifying distributions.

About Veritas Foundation

Based on IRS filings

Focus Areas

Philanthropy, Voluntarism & Grantmaking

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

Minnesota $361K (98%)

Missouri $8K (2%)

Share of all 7 itemized 2024 grant dollars.

States

Colorado Georgia Minnesota Missouri North Carolina

Cities

DuluthMinneapolisSpringfieldHopkinsColorado SpringsColumbusBloomingtonCharlotteNew Brighton

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2021
Total Assets	$7,916,069	$7,920,887	$6,252,158
Revenue	$419,002	$2,592,139	$794,231
Expenses	$419,025	$326,454	$219,111
Qualifying Distributions	$369,025	$322,489	$214,056
Net Investment Income	$419,002	$2,588,174	$791,376
Distributable Amount	$376,119	$312,299	$372,447

Data update history

When this profile's IRS filing data changed on Grantable

March 1, 2026 IRS filings on file for fiscal years 2020–2024

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 7 recipients in 2024

Grant Size Distribution

29 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest recipients include Chesterton Academy ($125,000), Friends of Minnesota Mens Gymnastics ($100,000), University Christian Fellowship ($53,000).

Recipient	Purpose	Amount
CHESTERTON ACADEMY Hopkins, MN	GENERAL SUPPORT	$125,000
FRIENDS OF MINNESOTA MENS GYMNASTICS New Brighton, MN	GENERAL SUPPORT	$100,000
UNIVERSITY CHRISTIAN FELLOWSHIP Duluth, MN	GENERAL SUPPORT	$53,000
RIVERTREE SCHOOL Minneapolis, MN	GENERAL SUPPORT	$50,000
CHI ALPHA CAMPUS MINISTRIES OF DULUTH Duluth, MN	GENERAL SUPPORT	$27,500
CHI ALPHA UMN Springfield, MO	GENERAL SUPPORT	$8,000
HOSPITALITY CENTER Minneapolis, MN	GENERAL SUPPORT	$5,500

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

No officer or director reported compensation in the available filings.

From 2024 IRS filing

Name	Title	Hours	Compensation
Patricia J Karle	President	5	—
Peter S Karle	Treasurer	5	—
Kristine E Isaac	Secretary	5	—

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What is Veritas Foundation?

Veritas Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Plymouth, MN. It holds $7.9M in total assets as of 2024.

How large is Veritas Foundation?

As of 2024, Veritas Foundation holds $7.9M in total assets with $419K in annual revenue. It awarded 7 grants totaling $369K in 2024.

Where does Veritas Foundation operate?

Veritas Foundation has awarded grants in Colorado, Georgia, Minnesota, Missouri, North Carolina.

What size grants does Veritas Foundation award?

In 2024, Veritas Foundation awarded 7 grants totaling $369K — an average of about $53K per grant, based on its IRS Form 990 filings.

How much is Veritas Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Veritas Foundation reported a distributable amount of $376K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.