Project Veritas Action Fund FY2021 filing

IRS exemption revoked

Mamaroneck, NYUnknown exempt organization EIN 47-1809663Revenue $2.1M in FY2021

On file with the IRSprojectveritasaction.com1214 W Boston Post Road · Mamaroneck, NY

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To further the common good and general welfare of the citizens of the United States of America by conducting investigations into waste, fraud, abuse, corruption, dishonesty, self-dealing and other misconduct for the purpose of educating the public, stakeholders, policymakers, and community leaders in order to create a more ethical and transparent society.

50¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 3
filings with a surplus
Average surplus $401K a year · 20% of revenue · last 3 filings
Looks good: a surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
50%
of spending
Concern: 50% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
12 mo
of spending, in cash
Looks good: 11.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$871K
40% of total assets
Looks good: liabilities are 40% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 3 voting members
Looks good: 2 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.1M
-2% vs prior year
Spent
$2.0M
To programs
50%
Net assets
$1.3M
By yearFY2020–FY2022
Revenue
$2.1M
FY2021▼ -2%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.1M
FY2021$2.1M
FY2022$1.9M
Expenses
$2.0M
FY2021▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.8M
FY2021$2.0M
FY2022$1.0M
Net assets
$1.3M
FY2021+0.3%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.3M
FY2021$1.3M
FY2022$2.2M

From the FY2021 Form 990 (year ending August 2021) · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on January 15, 2026
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2022) →

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2022.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

50 cents of each dollar spent went to programs.

Program services 50% · $1.0M Management & general 46% · $931K Fundraising 4% · $90K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Project Veritas Action Fund executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Investigates waste, fraud, and corruption to educate the public and promote a more ethical society.

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1 program · $1.0M · in their own filed words · FY2020
01

Further of the common good and general welfare of the citizens of the United States of America by conducting investigations into waste, fraud, abuse, corruption, dishonesty, self-dealing and other misconduct for the purpose of educating the public, stakeholders, policymakers, and community leaders in order to create a more ethical and…

$1.0Mprogram expense

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$2.1M
Ln 12
Gifts and grantsLn 1h$2.1M
Investment incomeLn 3$106
Money outPt IX
$2.0M
Ln 25
Programscol B$1.0M
Managementcol C$931K
Fundraisingcol D$90K
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$2.0M
Total assetsLn 16$2.2M
LiabilitiesLn 26$871K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.1M
Investment incomeLn 3$106
Gains on assetsLn 7$0
Total revenueLn 12$2.1M
Assets in detailPt X, end of year
CashLn 1$2.0M
SavingsLn 2$0
Cash and savings togetherLn 1–2$2.0M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$141K
Other assetsLn 15$10K
Total assetsLn 16$2.2M
LiabilitiesLn 26$871K
Net assetsLn 32$1.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderAugust
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$2.6M$2.0M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$151K$141K
Total assetsLn 16$2.8M$2.2M
LiabilitiesLn 26$1.5M$871K
Net assetsLn 32$1.3M$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$412K$341K$71K
Accounting feesLn 11c$12K$12K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$90K$90K
Investment management feesLn 11f$0
Other fees for servicesLn 11g$584K$217K$367K
Advertising and promotionLn 12$0
Office expensesLn 13$13K$2K$11K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$45K$45K
TravelLn 17$263K$263K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$237K$237K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$10K$10K
InsuranceLn 23$149K$6K$144K
Other expenses (24a–d)Ln 24$220K$185K$35K
All other expensesLn 24e$611$611
Total functional expensesLn 25$2.0M$1.0M$931K$90K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest $1.9M$1.0M$879K$2.2M 990 PDF
FY2021 Viewing $2.1M$2.0M$35K$1.3M 990 PDF
FY2020 $2.1M$1.8M$290K$1.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $2,070,101 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,119,966$2,069,995
I-9 Program service revenue$0
I-10 Investment incomePrior year $52$106
I-11 Other revenue$0
I-12 Total revenuePrior year $2,120,018$2,070,101
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising feesPrior year $100,000$90,000
I-17 Other expensesPrior year $1,730,091$1,945,283
I-18 Total expensesPrior year $1,830,091$2,035,283
I-19 Revenue less expensesPrior year $289,927$34,818
Part VI · Governance 2 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members2
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $2,070,101 across 8 lines filed
VIII-1f All other contributions, gifts and grants$2,069,995
VIII-1h Total contributions, gifts and grants$2,069,995
VIII-3 Investment incomeRelated to mission $106$106
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $106$2,070,101
Part IX · Statement of functional expenses $2,035,283 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal feesPrograms $341,039 · Management $70,831$411,870
IX-11c Accounting feesManagement $11,999$11,999
IX-11d Lobbying fees$0
IX-11e Professional fundraising feesFundraising $90,000$90,000
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $216,745 · Management $367,291$584,036
IX-12 Advertising and promotion$0
IX-13 Office expensesPrograms $2,286 · Management $10,508$12,794
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyManagement $44,619$44,619
IX-17 TravelPrograms $263,106$263,106
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestManagement $237,115$237,115
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationManagement $10,198$10,198
IX-23 InsurancePrograms $5,572 · Management $143,639$149,211
IX-24 Other expenses (24a–d)Programs $184,835 · Management $34,889$219,724
IX-24e All other expensesPrograms $611$611
IX-25 Total functional expensesPrograms $1,014,194 · Management $931,089 · Fundraising $90,000$2,035,283
Part X · Balance sheet $2,168,161 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $2,617,971$1,980,297
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $22,340$37,363
X-10c Land, buildings and equipment, netStart of year $151,200$141,001
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $2,000$9,500
X-16 Total assetsStart of year $2,793,511$2,168,161
X-17 Accounts payable and accrued expensesStart of year $80,586$162,660
X-25 Other liabilitiesStart of year $1,450,626$708,384
X-26 Total liabilitiesStart of year $1,531,212$871,044
X-27 Net assets without donor restrictionsStart of year $1,262,299$1,297,117
X-32 Total net assets or fund balancesStart of year $1,262,299$1,297,117
X-33 Total liabilities and net assetsStart of year $2,793,511$2,168,161
Part XI · Reconciliation of net assets $1,297,117 net assets at year end
XI-1 Total revenue$2,070,101
XI-2 Total expenses$2,035,283
XI-3 Revenue less expenses$34,818
XI-4 Net assets at start of year$1,262,299
XI-10 Net assets at end of year$1,297,117

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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