The Veritas Foundation/La Fondation Veritas
Private foundation · Toronto, Ontario · BN 732323126RR0001 · Foundations
Source: T3010 return, FPE 2024-03-31. Split of total expenditures ($3,977,250) as filed with the CRA.
The Veritas Foundation/La Fondation Veritas is a private foundation based in Toronto, Ontario, classified by the CRA under foundations. In its fiscal year ending March 31, 2024, it reported $4.6M in revenue and $4M in expenditures.
Its funding that year was roughly 39% from donations, 51% from other charities. In 2024, 31 other registered charities reported granting it a combined $3.5M.
Compared with 1,554 grantmaking charities of similar size, its share of spending on mission — charitable programs plus grants to other charities — ranked above 68% of peers. Its fundraising cost per donated dollar was lower than 93% of that peer group. Its highest-paid position fell in the $80,000–119,999 range. The charity reported 1 permanent full-time position.
As a grantmaker, it reported gifts to 48 qualified donees totalling $3.3M in 2024, the largest being $2.7M to Aqueduct Foundation. Revenue has grown substantially over its filings on record here, from $99K in 2020 to $4.6M in 2024. Its filed list of directors and trustees shows 8 names.
In its own words
To receive and maintain a fund or funds for public charitable purposes and to support other registered charities and qualified donees
Ongoing-program description from its T3010 filing, verbatim.
The ledger, 2020–2024
| Year | Revenue | Spending | Programs | Fundraising | Gifts out | Net assets |
|---|---|---|---|---|---|---|
| 2024 | $4.6M | $4M | — | $18K | $3.7M | $5.7M |
| 2023 | $4.3M | $1M | — | $16K | $860K | $5.1M |
| 2022 | $2.1M | $120K | — | — | $53K | $1.9M |
| 2021 | $109K | $30K | — | — | $14K | $88K |
| 2020 | $99K | $112K | — | — | $15K | -$175K |
Revenue printed in red where the year ran a deficit. Fiscal years by period end.
Private foundation — endowment and payout, March 31, 2024
- From other charities$2,327,162
- Receipted donations$1,791,509
- Other income$233,657
- Investment income$115,637
This ratio is gifts made divided by total assets at year end. It is not the CRA disbursement quota, which is calculated on the average value of property not used in charitable activities and cannot be derived from these filings.
Money between charities, 2024
Granted $3.3M to 48 qualified donees — largest 25 shown:
- Aqueduct Foundation$2.7M
- Makeway Charitable Society$175K
- Daily Bread Food Bank$50K
- Jack.org$50K
- Blake Boultbee Youth Outreach Service$30K
- The Canadian Journalism Foundation/La fondation pour le journalisme canadien$25K
- The Corporation of Massey Hall and Roy Thomson Hall$25K
- Making Art Making Change$25K
- Georgian Bay Forever$20K
- Eva's Initiatives for Homeless Youth$20K
- Friends of Allan Gardens$12K
- Rainbow Faith and Freedom$10K
- Music Education Charity of Canada$10K
- West Parry Sound Health Centre Foundation$10K
- Make-A-Wish Foundation of Canada$10K
- Sick Not Weak$10K
- The Georgian Bay Trust Foundation Inc$10K
- Anishnawbe Health Foundation$10K
- 10 000 Trees For the Rouge$10K
- The Veritas Foundation/La Fondation Veritas$6,954
- The Governing Council of the University of Toronto$6,050
- Town of Midland$5,450
- West End Phoenix$5,000
- Georgian Bay General Hospital Foundation$5,000
- University of Toronto Community Radio Inc.$5,000
Received $3.5M from 31 charities:
- Makeway Foundation$2.2M
- GiftPact Foundation Inc.$993K
- Aqueduct Foundation$75K
- John M. & Bernice Parrott Foundation Inc.$50K
- Charitable Gift Funds Canada Foundation$28K
- Robert Kerr Foundation$15K
- Arrell Family Foundation$12K
- Canada Gives$10K
- Nicola Wealth Private Giving Foundation$10K
- Toronto Foundation$8,651
- Burgundy Legacy Foundation$8,050
- Johansen-Larsen Foundation$7,500
- The Veritas Foundation/La Fondation Veritas$6,954
- United Way of Greater Toronto$5,000
- The Midloch Foundation$5,000
- Johansen-Larsen Foundation$5,000
- Canadian Online Giving Foundation$2,696
- Lifetime Charitable Foundation$2,500
- Burnbrae Farms Foundation$2,500
- M. Bonham Charitable Foundation$2,500
- M. Bonham Charitable Foundation$2,500
- M. Bonham Charitable Foundation$2,500
- McLean Smits Family Foundation$2,500
- The G.Scott Paterson Foundation$2,500
- Abundance Canada$1,000
As reported on the donors’ own T3010 qualified-donee schedules.
What it pays
Its ten highest-paid positions, by band:
- $80,000–119,9991 position
- Permanent full-time positions1
- Total compensation, all staff$92K
Schedule 3 of its 2020 return. The CRA discloses bands, not names or exact salaries.
Directors & trustees (2024)
Anthony Scilipoti (chair); Sam Labell (treasurer); Lou Fabiano (director); Joseph Mauko (director); James Burns (director); Dina Palozzi (director); Frank Anderson (director); Edna Chu (director).
As listed on its 2024 return.
Check the source
Every figure on this page is from The Veritas Foundation/La Fondation Veritas’s own T3010 filings, published by the Canada Revenue Agency. Verify against the CRA’s charities listing (search BN 732323126RR0001), or read how we compute the receipt.