Veritas Foundation

## Approach & Strategy

The Veritas Foundation is a private non-operating family foundation based in Plymouth, Minnesota, focused on Christian education and campus ministry. With approximately $7.9 million in assets, it occupies a mid-size niche among Minnesota faith-based foundations. The foundation is managed through Wipfli LLP, a professional accounting firm, rather than maintaining its own staff or offices.

Strategic priorities evident from grant patterns include: - Christian K-12 education: Major investments in Hand In Hand Christian Montessori Home School Academy ($600K total) and Chesterton Academy ($250K) signal a deep commitment to faith-based schooling alternatives - Campus ministry: Consistent multi-year funding of Chi Alpha Campus Ministries affiliates across Minnesota, Missouri, and Georgia indicates a sustained strategy to support Christian presence on college campuses - Church and community support: Grants to Church Of The Cross and Transformation Today reflect investment in local congregational strengthening

Organizations seeking funding should demonstrate clear alignment with Christian education or campus ministry missions. The foundation appears to favor deep, multi-year relationships over broad one-time grants, making initial relationship-building with trustees essential.

## Funding Patterns

Annual Giving Trends: - 2023: $318,500 in grants paid (per IRS Form 990-PF), with total assets of $7.9M and strong investment returns of $2.59M - 2022: $559,000 in grants paid across 10 grants (5 unique recipients), ranging from $30,000 to $300,000 — the foundation's most active year on record - 2021: $211,800 in grants paid across 7 grants, ranging from $3,000 to $75,000

Grant Size Distribution: - Large grants ($100K+): Building projects and major institutional support (e.g., Hand In Hand $300K, Chesterton Academy $125K) - Mid-range grants ($25K-$75K): Core operating support for campus ministries and schools - Small grants (<$10K): Occasional support for national organizations (Compassion International, smaller Chi Alpha chapters)

Funding Type: The vast majority of grants are designated as "General Support," with the notable exception of Hand In Hand Christian Montessori's $300,000 "Building Project" grants. This preference for unrestricted funding is favorable for grantees.

Financial Health: The foundation's assets grew from $6.25M (2021) to $7.92M (2023), driven primarily by strong corporate stock investment returns. The endowment (FMV $8.14M in 2023) is heavily concentrated in corporate equities ($5.44M). The foundation maintains virtually zero liabilities ($1).

## Peer Comparison

The Veritas Foundation can be compared to other Minnesota-based private foundations with NTEE code T22 (Private Grantmaking Foundations) and similar asset ranges:

Key Observations: - Despite having the smallest asset base among these peers, Veritas Foundation's total giving of $1.33M is competitive, reflecting a relatively high payout rate - The foundation makes fewer, larger grants compared to peers like Roehl (183 grants) and Granite (210 grants), indicating a concentrated funding strategy - Veritas is distinctive among these peers for its narrow focus on Christian education and campus ministry, whereas most comparably-sized Minnesota foundations pursue broader philanthropic agendas - The foundation's 2022 giving spike ($559K) suggests capacity for significant grants when aligned projects emerge

## Recent Activity

2023 Financial Year (most recent IRS filing): - Total revenue of $2.59M, driven almost entirely by investment income ($2.59M from dividends and capital gains) - Granted $318,500 to charitable organizations — a decrease from the $559,000 distributed in 2022 - Total assets grew to $7.92M (up from $5.57M in 2022), reflecting strong market performance - Total functional expenses of $326,454, of which $318,500 was charitable distributions - Zero officer compensation reported, consistent with this being a family foundation administered through external accountants - Paid $35,976 in excise taxes on net investment income

2022 Highlights: - Made its largest-ever grants: two $300,000 grants to Hand In Hand Christian Montessori Home School Academy for building projects - Expanded support to Chesterton Academy with $125,000 in general support - Continued multi-year funding of University Christian Fellowship ($54K) and Chi Alpha Campus Ministries of Duluth ($30K) - Total assets declined to $5.57M from $6.25M in 2021 due to negative investment returns (-$95K revenue year)

Trajectory: The foundation is on a growth trajectory in terms of assets, and its giving has increased substantially from the 2021 baseline ($212K). The 2022 building project grants suggest willingness to fund capital campaigns for aligned organizations.

## Application Tips

Important: The Veritas Foundation does not appear to accept unsolicited grant applications. It is a private family foundation administered by Wipfli LLP (a professional services firm), with no public-facing grants page, application form, or RFP process. The website listed in IRS records (veritas.org) belongs to a different organization (The Veritas Forum Inc., EIN 20-5616941, Cambridge, MA).

How to approach this funder:

1. Build relationships first: The foundation's concentrated giving to a small number of repeat grantees (e.g., University Christian Fellowship funded 3 times, Chi Alpha Duluth funded 3 times) indicates that personal relationships with the trustees are the primary pathway to funding

2. Align with core themes: Successful grantees share these characteristics: - Christian mission explicitly central to the organization - Focus on education (K-12 or higher education) or campus ministry - Primarily Minnesota-based operations (85%+ of grant dollars stay in MN)

3. Demonstrate capacity for large projects: The $300K building project grants show the foundation will make significant investments for capital needs, not just operating support

4. Consider Chi Alpha affiliation: Multiple Chi Alpha Campus Ministries chapters have received funding, suggesting the foundation has particular affinity for this network

5. Contact pathway: Inquiries may be directed through the fiscal agent: - Wipfli LLP (listed as care-of on IRS filings) - Address: 1011 Yuma Ln N, Plymouth, MN 55447-3608 - Phone: (952) 472-8757

6. Timing: The foundation operates on a calendar year (December fiscal year end). Grant decisions appear to be made throughout the year, with the largest grants historically awarded in the same fiscal year as capital campaign requests.