The Veritas Foundation

What The Veritas Foundation does

The Veritas Foundation is a federally incorporated Canadian private non-profit foundation established in 2016 and registered with the Canada Revenue Agency (#732323126 RR0001), headquartered at TD West Tower in Toronto's financial district. It operates the Veritas Foundation Giving Fund (VGF), a Donor Advised Fund (DAF) platform that enables high-net-worth individuals, families, organizations, and corporations to establish named charitable accounts with a $5,000 minimum initial deposit, make irrevocable contributions of cash or securities, receive immediate tax receipts at fair market value, and recommend quarterly grants to eligible Canadian registered charities. Supporting services include the VScore five-star charity ratings system, comprehensive Charity Ratings Reviews built on T3010 CRA filing analysis, a Tax Calculator tool, Non-Qualified Donee Project Funding, and the annual Veritas 500 Fastest Growing Charities Awards (held annually since 2021).

The foundation sits within the broader Veritas Group of Companies, alongside Veritas Investment Research (founded 2000) and Veritas Asset Management Inc. (founded 2016). Operational infrastructure is provided through formal partnerships: Veritas Asset Management invests pooled DAF assets tax-free, Veritas Charity Services Inc. (VCSI) handles account administration and conducts independent charity research, and Deloitte LLP serves as custodian and auditor. The organization employs 11-50 staff including an Executive Director, Managing Director of Charitable Impact, Charity Review Officer, Treasurer, Secretary, and an eight-person Board of Directors chaired by Anthony Scilipoti (co-founder of Veritas Investment Research).

The revenue model blends subscription-style DAF administration with professional services revenue from Charity Ratings Reviews and paid monthly research report subscriptions. Distribution is domestic-only (Canada) and conducted through a direct-to-consumer channel: an online self-service website with multiple deposit mechanisms (cheque, credit card, PayPal, EFT, Interac, securities transfer, RRSP/RRIF, life insurance, wills/bequests) supplemented by telephone and mail-based support. Marketing relies on content-led thought leadership — monthly newsletters, the Veritas 500 rankings, the annual awards ceremony, an annual Buddies Golf Tournament, and an active LinkedIn presence — rather than paid acquisition.

Name

The Veritas Foundation

Legal name

The Veritas Foundation

Website

https://theveritasfoundation.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

The Veritas Foundation is a Canadian private non-profit foundation operating the Veritas Foundation Giving Fund, a Donor Advised Fund platform serving high-net-worth individuals, families, organizations, and corporations seeking tax-efficient charitable giving and legacy planning across Canada's 86,000+ registered charities.

Ownership category

akta.pro rank

Product category

Donor Advised Fund / Charitable Foundation Services

NAICS

Grantmaking Foundations (813211), Religious, Grantmaking, Civic, Professional, and Similar Organizations (813), Grantmaking and Giving Services (81321)

akta.pro primary industry

Donor-Advised Fund (DAF) Sponsors (BPAGAKAF)

akta.pro secondary industries

Private Foundations (BPAGAKAA), Philanthropy & Foundations Advisory (Donor-Advised Funds, Endowments) (FSAAABAH)

Keywords

• Donor advised funds
• Charitable foundation services
• Philanthropic giving programs
• Charity ratings review
• Non-profit grantmaking

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Donor Advised Fund Administration: The foundation manages Donor Advised Fund accounts for donors. Revenue is generated through administrative management of donated funds and investment growth within the pooled VGF system. Donors make irrevocable donations to establish accounts and the foundation invests these proceeds tax-free.
2. Charity Research Reports Subscription: Monthly research reports on Canadian charitable sector published and available for subscription. Full reports available for purchase with complimentary executive summaries.
3. Charity Ratings Review Services: Fee-based comprehensive review services for charities including operations analysis, performance ratings, and recommendations for improvement.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

The Veritas Foundation is a non-profit charitable public foundation in Canada that operates the Veritas Foundation Giving Fund (VGF), a Donor Advised Fund (DAF) program through which individual donors can contribute assets and recommend grants to registered Canadian charities. The foundation also delivers independent charity ratings and reviews through its VScore program and channels funding to non-qualified donee projects.

Product overview

The Veritas Foundation is a Canadian private foundation offering a unified Donor Advised Fund (DAF) platform through its Veritas Foundation Giving Fund (VGF). The core product enables individuals, families, organizations, and corporations to establish named charitable accounts, make deposits of cash or securities, receive immediate tax receipts, and recommend grants to registered charities. Supporting services include the Charity Ratings Review (a five-star evaluation service for charities), the Veritas 500 Awards program (recognizing Canada's fastest-growing charities), a Tax Calculator tool, and funding approval for Non-Qualified Donee projects. The foundation also publishes monthly research reports and maintains a VScore program framework for charity evaluations.

Differentiator

Problem solved

Functional benefit

Brands

• Veritas 500 Awards: Annual awards presented to the fastest-growing Charitable Organizations in Canada over the past 5-year period, based on Total Tax-Receipted Donation Revenue from CRA T3010 filings.
• VScore
• Veritas Foundation Giving Fund (VGF)

Quantifiable outcome

• Donors can eliminate capital gains tax on securities donations while receiving full fair market value tax receipts
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Veritas Asset Management Inc. (VAM)coreTechnology or Integration · 1 January 2016VAM is the Investment Manager for The Veritas Foundation, providing investment management services for the Veritas Foundation Giving Fund assets. Founded in February 2016, VAM is an independent employee-owned research-driven investment manager that sources ideas from Veritas Investment Research (VIR), an award-winning equity research organization.
• Veritas Charity Services Inc. (VCSI)coreImplementation/ SI/ Consulting Partner · 1 January 2016VCSI is the charitable administration service provider for The Veritas Foundation, handling operating tasks including account administration, marketing, grant administration, application reviews, and account setups. VCSI also conducts independent research into Canadian registered charities within the VScore program framework.
• Deloitte LLPcoreOthers · 1 January 2016Deloitte serves as both Custodian and Auditors for The Veritas Foundation. As custodian, Deloitte provides custody services for foundation assets. As auditors, Deloitte provides audit & assurance, consulting, financial advisory, risk advisory, and tax services.
• LinkedInminorGTM or Marketing Partner · 1 January 2016Official social media presence for The Veritas Foundation at linkedin.com/company/73907032 for professional network engagement and marketing.
• Veritas Investment Research (VIR)coreStrategic or Co-development Partner · 1 January 2016Award-winning equity research organization providing fundamental research based on forensic-accounting principles. Part of the Veritas Group of Companies, VIR sources investment ideas that are actioned through Veritas Asset Management.

Scale indicators4 records

Expansion highlights4 records

Broad incumbents

• Fidelity Charitable: The largest US Donor Advised Fund sponsor, part of Fidelity Investments. Highly comparable DAF product model though US-jurisdiction; serves as the dominant scale player setting industry expectations for DAF features and donor experience.
• National Philanthropic Trust: US-based DAF sponsor and donor-advised giving administrator. Comparable DAF product with significant AUM, providing scale and operational benchmarks relevant to The Veritas Foundation's VGF offering.
• Schwab Charitable: Major US Donor Advised Fund sponsor affiliated with Charles Schwab. Comparable DAF product model with significant scale, providing a benchmark for DAF platform functionality and donor servicing standards.

Emerging players

• Foundation Source: US-based provider of administrative services and platforms for private foundations and DAF sponsors. Comparable as an infrastructure and technology provider enabling foundation-style giving, though primarily US-focused.
• Charity Intelligence Canada: Canadian charity evaluator that researches and rates Canadian registered charities for donors. Directly comparable to VScore as a charity ratings and research platform serving Canadian donors.

Direct peers

• Toronto Foundation: Canadian community foundation based in Toronto that manages donor funds and distributes grants to local charities. Directly comparable as a Toronto-based pooled giving vehicle competing for similar HNW donor relationships.
• Canada Gives: Canadian foundation providing Donor Advised Fund accounts and structured giving programs to Canadian donors. Closely comparable as a domestic DAF sponsor competing for the same HNW Canadian donor pool.
• Charitable Impact Foundation: Canadian charity operating a Donor Advised Fund-style giving account platform (ChIMP) that lets donors consolidate giving and recommend grants to registered charities. Directly comparable as a Canadian DAF-style product targeting individuals and families.

Regional players

• Vancouver Foundation: Canada's largest community foundation, based in Vancouver, managing donor funds and issuing grants to registered charities. Comparable pooled giving and grant administration model, though geographically focused on BC rather than national.
• Calgary Foundation: Alberta-based community foundation managing donor funds and granting to charities. Comparable as a regional pooled giving vehicle with similar DAF-style account management for local HNW donors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/the-veritas-foundation
• Xx.com/veritascharity

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Veritas Foundation