Al OMB No 1545-0047 Form 99O Department of the Treasury Internal Revenue Service Return of Organization Exempt From Income Tax 2015 Under section 501(c), 527 , or 4947 ( a)(1) of the Internal Revenue Code (except private foundations) ' Do not enter social security numbers on this form as it may be made public ^ Information about Form 990 and its instructions is at www. irs.gov/form990. Open to Public Inspection A For the 2015 calendar year , or tax year beginning B Check if applicable , 2015, and ending 8/31 Name change return , 2016 D Employer identification number E Telephone number 47-1809663 PROJECT VERITAS ACTION FUND 1214 W. BOSTON POST ROAD #156 MAMARONECK, NY 10543 fl Address change h Initial 9/01 C ( 914 ) 908-2300 Final return / terminated G Gross receipts $ Amended return I F pending F R SAME AS C ABOVE 501(c)(3) I Tax-exempt status J Website: ^ K Form of organization Part I X 501(c) ( 801 H(a) Is this a group return for subordi nates? Name and address of principal officer )' (Insert no) 4947(a)(1) or , 125. Yes X No H(b) Are all subordinates included Yes If 'No,' attach a list (see instructions) H No 1 527 H(c) Group exemption number ^ N/A X Corporation Trust Association Other" L Year of formation M State of legal domicile 2014 VA Summa ry 1 Briefly describe the organization's mission or most significant activities 2 3 4 5 6 7a b st^ net assets Check this box ^ If the organization discontinued its operations odisposed^of.aaoce-t#apaa25 E. Number of voting members of the governing body (Part VI, line 1 a) r O C ll 3 6d 4>L.. ^ V ^ V Number of-Independent voting members of the governing body (Part line-1 b) -- --•--4 Total number of individuals employed in calendar year 2015 (Part V, Ilnes2a) (A 5 Total number of volunteers (estimate if necessary) JIUL 2 ^ 2017 Q 6 ` Total unrelated business revenue from Part VIII, column (C), line 12 cc 7a -, e_r, Net unrelated business taxable income from Form 990-T, line 34 7b ,JULD "p or.Xe r 8 Contributions and grants (Part VIII, line 1h) 1 , 815 , 440. 801 , 125. Program service revenue (Part VIII, line 2g) Investment Income (Part VIII, column (A), lines 3, 4, and 7d) Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, IOc, and 11e) Total revenue - add lines 8 through 11 (must equal Part VIII, column (A), line 12) Grants and similar amounts paid (Part IX, column (A), lines 1-3) Benefits paid to or for members (Part IX, column (A), line 4) Salaries, other compensation, employee benefits (Part IX, column (A), lines 5-10) 1 , 815 , 440. 801 , 125. TO FURTHER THE COMMON GOOD AND -------------- --------GENERAL WELFARE OF THE CITIZENS OF THE UNITED _STATES Q F AMERICA BY -CONDUCTING _ _ _ _ _ IN _ LICS _S_TAKEHOLDERS,_ _ _ _ _ _ _ _ _ _ OTHER __MISCDUCT_ FOR ifITC PURPOSE OF EDTING THE - ❑ ----- ° Q 9 10 11 12 13 14 15 2 0 0 0 0. 0. Current Year H COO X W 16 a Professional fundraising fees (Part IX, column (A), line 11e) b Total fundraising expenses (Part IX, column (D), line 25) 9, 17 Other expenses (Part IX, column (A), lines 1la-11d, 11f-24e) 18 Total expenses Add lines 13-17 (must equal Part IX, column (A), line 25) 19 Revenue less expenses Subtract line 18 from line 12 a 20 0 cl-i Total assets (Part X, line 16) a 5 21 Tota l l ia b i l ities ( P ar t X , l ine 26 ) Z Net assets or fund balances Subtrac t li n e 2 1 from line 20 22 Part II 587 587 395. 1 259 395. 1 , 259 , 938. 1 , 228 , 045. Beginning of Current Year -458 , 813. E nd of Year 1 , 348 , 129. 120 084. 1 , 228 , 045. 1,334, 700. 565 , 468. _ 769 232. Si g nature Block ve' xamined this return,^cludy g acco Under penalties of perjury, I declare tha er t n officer) i ase^Ii mate complete Declaration of preparer Sign Here 7,837. aning schedules and statements, and to the best of my knowledge and bel ief, of which preparer has any knowledge 1111. S O'KEEFE III i ype or print name ano nine Print/Type preparer ' s name Preparer ' s signature EDWARD L. HUL EDWARD L. HULSE Paid ' HULSE & ASSOCIATES, P.C. •Z Preparer Firm's name Use Only F i rm ' s address 350 PASSAIC AVENUE FAIRFIELD NJ 07004 May the IRS discuss this return with the p r ep arer shown ab o v e? (see in! BAA For Paperwork Reduction Act Notice , see the separate instruction is true, correct, and 938. 1 Page 2 47-1809663 Form 990 (2015) PROJECT VERITAS ACTION FUND Statement of Program Service Accomp l is h ments ______ Check if Schedule 0 contains a response or note to any line in this Part III Briefly describe the organization's mission SEE-SCHEDULE-0 --------------------------------------------------------------- 2 3 4 Did the organization undertake any significant program services during the year which were not listed on the prior Form 990 or 990-EZ7 If 'Yes,' describe these new services on Schedule 0 Did the organization cease conducting , or make significant changes in how it conducts , any program services? F1 Yes XX No LI Yes n No If 'Yes,' describe these changes on Schedule 0 Describe the organization ' s program service accomplishments for each of its three largest program services , as measured by expenses Section 501 (c)(3) and 501 (c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue , if any, for each program service reported 4a (Code ) (Expenses $ 1, 009, 181. including grants of $ ) (Revenue $ 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 CHALLENGING LAWS THAT LIMIT THE ABILITY TO PURSUE ETHICAL AND TRANSPARENT SOCIETY. -------------------------------------------------------------OUR MISSION. ---------------------------------------------------------------- 4 b (Code ) (Expenses $ including grants of 4c (Code ) (Expenses $ including grants of 4d Other program services (Describe in Schedule 0 ) including grants of $ (Expenses $ 4e Total program service expenses ^ 1,009,181. BAA TEEA0102L )(Revenue $ ) (Revenue $ ) (Revenue $ 10/12/15 Form 990 (2015) Page 3 47-1809663 Form 990 (2015) PROJECT VERITAS ACTION FUND Part IV Checklist of Required Schedules Yes No 1 Is the organization described in section 501 (c)(3) or 4947(a)(1) (other than a private foundation )? If 'Yes,' complete Schedule A 1 2 Is the organization required to complete Schedule B, Schedule of Contri butors (see instructions)? 2 3 Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If 'Yes,' complete Schedule C, Part 3 4 Section 501 (cX3) organizations . Did the organization engag e in lobbying activities , or have a section 501(h) election in effect during the tax year? If 'Yes,' complete Schedule C, Part 1/ 4 5 Is the organization a section 501 (c)(4), 501 (c)(5), or 501 (c)(6) organization that receives membership dues, assessments , or similar amounts as defined in Revenue Procedure 98-19? If 'Yes,' complete Schedule C, Part Ill 5 X 6 Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If 'Yes,' complete Schedule D, Part 6 X 7 Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures? If 'Yes,' complete Schedule D, Part 11 7 X 8 Did the organization maintain collections of works of art, historical treasures, or other similar assets? If 'Yes,' complete Schedule D, Part Ill 8 X 9 Did the organization report an amount in Part X, line 21, for escrow or custodial account liability, serve as a custodian for amounts not listed in Part X, or provide credit counseling, debt management, credit repair, or debt negotiation services? If 'Yes,' complete Schedule D, Part IV 9 X 10 X a Did the organization report an amount for land, buildings and equipment in Part X, line 10? If 'Yes,' complete Schedule D, Part VI 11a X b Did the organization report an amount for investments - other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 167 If 'Yes,' complete Schedule D, Part VIL 11b X c Did the organization report an amount for investments - program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16' If 'Yes,' complete Schedule D, Part Vlll 11c X d Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16' If 'Yes,' complete Schedule D, Part IX 11d e Did the organization report an amount for other liabilities in Part X, line 25? If 'Yes,' complete Schedule D, Part X 11e f Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)? If 'Yes,' complete Schedule D, Part X llf 10 Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments? If 'Yes,' complete Schedule D, Part V 11 If the organization's answer to any of the following questions is 'Yes', then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable 12a Did the organization obtain separate, independent audited financial statements for the tax year? If 'Yes,' complete Schedule D, Parts Xl, and XII b Was the organization included in consolidated, independent audited financial statements for the tax year? If 'Yes,' and If the organization answered 'No' to line 12a, then completing Schedule D, Parts XI and Xll is optional Is the organization a school described in section 170(b)(1)(A)(ii)' If 'Yes,' complete Schedule E 13 14a Did the organization maintain an office, employees, or agents outside of the United States? b Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at-$a0 000-or-more' 14'Yes; complete-Schedule-F-Parts-l-and-lV 12a X X X X X X X 12b X 13 X 14a X 14b -X Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If 'Yes,' complete Schedule F, Parts 11 and IV 15 X Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals If 'Yes,' complete Schedule F, Parts 111 and IV 16 X 17 Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 1 le? If 'Yes,' complete Schedule G, Part I (see instructions) 17 X 18 Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1 c and 8a' If 'Yes,' complete Schedule G, Part lI 18 X 19 Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a' If 'Yes,' complete Schedule G, Part Ill 191 15 16 BAA TEEA0103L 10/12/15 1 X Form 990 (2015) Form 990 (2Q1 5) Part1IV, ,ol Checklist of Re q uired Schedules Page 4 47-1809663 PROJECT VERITAS ACTION FUND continued Yes 20a Did the organization operate one or more hospital facilities? If 'Yes', complete Schedule H b If 'Yes' to line 20a, did the organization attach a copy of its audited financial statements to this return? 21 22 23 No X 20a 20b Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If 'Yes,' complete Schedule I, Parts 1 and 11 21 X Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If 'Yes,' complete Schedule I, Parts I and 111 22 X Did the organization answer 'Yes' to Part VII, Section A, line 3, 4, or 5 about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees? If 'Yes,' complete Schedule J 23 24a Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If 'Yes,' answer lines 24b through 24d and complete Schedule K If 'No, 'go to line 25a b Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception? 24a 24b c Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds? d Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year? 24c 24d 25a Section 501(cX3), 501(cX4), and 501 (cX29) organizations . Did the organization engage in an excess benefit transaction with a disqualified person during the year? If 'Yes,' complete Schedule L, Part I X X 25a X b Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ' If 'Yes,' complete Schedule L, Part 1 25b X 26 Did the organization report any amount on Part X, line 5, 6, or 22 for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons? If 'Yes', complete Schedule L, Part ll 26 X 27 Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons? If 'Yes,' complete Schedule L, Part 111 27 X 28 Was the organization a party to a business transaction with one of the following parties (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions) current or former officer, director, trustee, or key employee? If 'Yes,' complete Schedule L, Part IV A a b A family member of a current or former officer, director, trustee, or key employee? If 'Yes,' complete Schedule L, Part IV NMI X 28a 28b X 28c 29 X X Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If 'Yes,' complete Schedule M Did the organization liquidate, terminate, or dissolve and cease operations? If 'Yes,' complete Schedule N, Part 1 30 31 X X Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If 'Yes,' complete Schedule N, Part II 32 X Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301 7701 -2 and 301 7701-37 If 'Yes,' complete Schedule R, Part 1 33 X Was the organization related to any tax-exempt or taxable entity? If 'Yes,' complete Schedule R, Part II, 111, or IV, and Part V, line 1 35a-Did-the-organization-have-a-controlled-ent+ty-within-the-meaning-of-section-5-12(b)(13)7 34 -35 c An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner? If 'Yes ' complete Schedule L, Part IV 29 Did the organization receive more than $25,000 in non-cash contributions? If 'Yes,' complete Schedule M 30 31 32 33 34 b If 'Yes' to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)7 If 'Yes,' complete Schedule R, Part V, line 2 36 36 37 Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is -treated as a partnership for federal income tax purposes? If 'Yes, ' complete Schedule R, Part VI - 37 38 Did the organization complete Schedule 0 and provide explanations in Schedule 0 for Part VI, lines 11 b and 19' Note . All Form 990 filers are required to complete Schedule 0 TEEA0104L 10/12/15 -X 35b Section 501(cx3) organizations . Did the organization make any transfers to an exempt non-charitable related organization? If 'Yes,' complete Schedule R, Part V, line 2 BAA X X X 38 Form 990 (2015) Fdrm 990 (2015) PROJECT VERITAS ACTION FUND LP_ art V _ Statements Regarding Other IRS Filings and Tax Compliance Page 5 47-1809663 Check if Schedule 0 contains a response or note to any line in this Part V 1 a Enter the number reported in Box 3 of Form 1096 Enter -0- i f not applicable b Enter the number of Forms W-2G included in line la Enter -0- if not applicable F1 Yes I No 1 a 1 b 7 0 c Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? 2 a Enter the number of employees reported on Form W-3, Transmittal of Wage and Tax State2a ments, filed for the calendar year ending with or within the year covered by this return b If at least one is reported on line 2a, did the organization file all required federal employment tax returns? Note . If the sum of lines 1 a and 2a is greater than 250, you may be required to a-file (see instructions) 3 a Did the organization have unrelated business gross income of $1,000 or more during the year? b If 'Yes' has it filed a Form 990-T for this year? If 'No' to line 3b, provide an explanation in Schedule 0 4 a At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)? b If 'Yes,' enter the name of the foreign country See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR) 5 a Was the organization a party to a prohibited tax shelter transaction at any time during the tax year? b Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction? c If 'Yes,' to line 5a or 5b, did the organization file Form 8886-T' 6a Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions? b If 'Yes,' did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible? 7 Organizations that may receive deductible contributions under section 170(c). a Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor' b If 'Yes,' did the organization notify the donor of the value of the goods or services provided'? c Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282' I 7dl d If 'Yes,' indicate the number of Forms 8282 filed during the year e Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract? f Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? 1 c 0 2b 3a 3b X 4a 5a 5b 5c X 6a 6b 7a 7b 7c 7e 7f g If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required? h If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C' 8 Sponsoring organizations maintaining donor advised funds . Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year? Sponsoring organizations maintaining donor advised funds. a Did the sponsoring organization make any taxable distributions under section 4966? b Did the sponsoring organization make a distribution to a donor, donor advisor, or related person? 10 Section 501(cX7) organizations. Enter a Initiation fees and capital contributions included on Part VIII, line 12 10a bGross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities 10b 11 Section 501(cX12) organizations. Enter 9 -aGrosincmef-brsohaeld-b Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them ) 11 12a Section 4947( aXl) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 10417 b If 'Yes,' enter the amount of tax-exempt interest received or accrued during the year 12b 13 Section 501(cX29) qualified nonprofit health insurance issuers. a Is the organization licensed to issue qualified health plans in more than one state Note. See the instructions for additional information the organization must report on Schedule 0 b Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans 113b c Enter the amount of reserves on hand 13c 14a Did the organization receive any payments for indoor tanning services during the tax year? 9a 9b 12a 13a 14al b If 'Yes,' has it filed a Form 720 to report these payments? If 'No,' provide an explanation In Schedule 0 TEEA0105L 10/12/15 orm I X Part VI Page 6 47-1809663 Form 990 (2015) PROJECT VERITAS ACTION FUND Governance, Management , and Disclosure For each 'Yes' response to lines 2 through 7b below, and for a 'No' response to line 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule 0. See Instructions. Ch eck if Schedule 0 contains a response or note to any line in this Part Vl Section A. Governing Body and Ma na ge men t Yes 1 a 1 a Enter the number of voting members of the governing body at the end of the tax year If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule 0 1 b b Enter the number of voting members included in line la, above, who are independent 2 Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? 3 Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors, or trustees, or key employees to a management company or other person? 4 Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? 5 Did the organization become aware during the year of a significant diversion of the organization's assets? 6 Did the organization have members or stockholders? 7a Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? b Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? 8 Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following a The governing body? b Each committee with authority to act on behalf of the governing body? 9 Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization's mailing address? If 'Yes,' provide the names and addresses in Schedule 0 No 2 X 3 X 4 5 6 X X X 7a X 7b X 8a X 8b X 9 X Section B. Policies CT'hls Section B re q uests Information about p olicies not re q uired by the Internal Revenue Code. Yes No X 10a Did the organization have local chapters, branches , or affiliates? b If 'Yes, ' did the organization have written policies and procedures governing the activities of such chapters , affiliates, and branches to ensure their operations are consistent with the organization ' s exempt purposes? 11 a Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? b Describe in Schedule 0 the process, if any, used by the organization to review this Form 990 SEE SCHEDULE 0 12a Did the organization have a written conflict of interest policy? If 'No,' go to line 13 b Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? c Did the organization regularly and consistently monitor and enforce compliance with the policy? If 'Yes,' describe In SEE SCHEDULE 0 Schedule 0 how this was done 13 Did the organization have a written whistleblower policy? 14 Did the organization have a written document retention and destruction policy? Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision? a The organization 's CEO, Executive Director , or top management official b Other officers or key employees of the organization - -I f 'Yes' t o line 15 a or 1 5b describe the process - in Schedule- (see_mstwctions} 12c 13 14 X X X 15 16a Did the organization invest in, contribute assets to , or participate in a joint venture or similar arrangement with a taxable entity during the year? b If 'Yes,' did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization ' s exempt status with respect to such arrangements 15a 15b X X 16a X - -^ 16b Section C. Disclosure 17 18 19 List the states with which a copy of this Form 990 is required to be filed ^ NONE ---------------------- -------Section 6104 requires an organization to make its Forms 1023 (or 1024 if applicable ), 990, and 990-T (Section 501 (c)(3)s only) available for public inspection Indicate how you made these available Check all that apply X Upon request Other (explain in Schedule 0) LI Own website P Another's website Describe in Schedule 0 whether ( and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year 20 SEE SCHEDULE 0 State the name, address , and telephone number of the person who possesses the organization ' s books and records PROJECT VERITAS ACTION FUND 115 HOYT AVENUE BAA TEEA0106L 10/12/15 MAMARONECK NY 10543 ( 914) 908-2300 Form 990 (2015) Form 990 (2015) Page 7 PROJECT VERITAS ACTION FUND 47-1809663 Pal Compensation of Officers , Directors, Trustees , Key Employees , Highest Compensated Employees, and Independent Contractors Check If Schedule 0 contains a response or note to any line in this Part VII ❑ Section A. Officers , Directors , Trustees , Key Employees , and Highest Compensated Employees 1 a Complete this table for all persons required to be listed Report compensation for the calendar year ending with or within the organization's tax year • List all of the organization' s current officers, directors, trustees (whether individuals or organizations), regardless of amount of compensation Enter -0- in columns (D), (E), and (F) if no compensation was paid • List all of the organization' s current key employees, if any See instructions for definition of 'key employee • List the organization' s five current highest compensated employees (other than an officer, director, trustee, or key employee) who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the organization and any related organizations • List all of the organization' s former officers, key employees, and highest compensated employees who received more than $100,000 of reportable compensation from the organization and any related organizations • List all of the organization' s former directors or trustees that received, in the capacity as a former director or trustee of the organization, more than $10,000 of reportable compensation from the organization and any related organizations List persons in the following order individual trustees or directors, institutional trustees, officers, key employees, highest compensated employees, and former such persons ❑ Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee (C) ( A) Name and Title (1) JAMES O'KEEFE III Position (do not check more (B) than one box, unless person Average is both an officer and a hours director/trustee) per 3 0 week N a 3 (hst any a hours for 9 o __ cu 0 related o 5 -o or g aniza2 o lions 0 ^u n below dotted t 3 line) a ( D) Reportable compensation from the or g anization (W-2/1099-Misc) (E) Reportable compensation from related or g ani z ati o ns (W 211099 MISC) (F) Estimated amount of other com p e nsa tion from the organization and related organizations 5 --- - --- ----------------- -PRESIDENT 50 (2) GEORGE SKAKEL 5 ---------------------- --DIRECTOR 0 X X X 0. 235,471. 7,187. 0. 0. 0. -(3) ------------------------ ---(4) ------------------------- ----(5) ------------------------ ---- -( 6)------------------------ ---(7) ----------------------------(8)------------------------ ----(9)------------------------ ---(10) (11) (12) ------------------------ ---- ------------------------ ---- (13) ------------------------ --(14) BAA TEEA0107L 10/12/15 Form 990 (2015) Form 990 (2015) PROJECT VERITAS ACTION FUND Pace 8 47-1809663 Part VII Section A. Officers, Directors , Trustees , Key Employees , and Highest Compensated Emp loyees (continued) (B) (C) Position (A) Name and title Average hours per week (list any for related or g aniza lions below dotted line) (15) (16) ----------------------- ---- ----------------------- ---- ----------------------- ---- ----------------------- ---- (do not check more than one box , unless person is both an officer and a d i rector/trustee) Q L' n CD c g n' O ZT _ 71 a (D) (E) (F) Reportable compensation from the organization (W-2/1099-MISC )) Reportable compensation from related or anizations (W - 2/ t 9 MISC ) Estimated amount of other compensation from the organization and related organizations CD o C' o 3 ,„ co C' ro (17) (18) (19) (20) ------------------------(21) ----------------------- ---- (22) ------------------------(23) ------------------------(24) ------------------------(25) ------------------------- ---- 0. 1 b Sub-total 0. 235, 471. 7,187. c Total from continuation sheets to Part VII , Section A 0. 0. 0. d Total (add lines lb and 1c) 0. 235,471. 7,187. Z l ofal nurnuer or Ina vlauaIS tlnc uarng out not Ilmltea to tnose iistea a Dove) wno recelvea more tnan $ I UU,000 of reportable compensation from the organization ^ 0 Yes 3 Did the organization list any former officer, director, or trustee, key employee, or highest compensated employee on line 1 a? If 'Yes,' complete Schedule J for such individual 4 For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,0007 If 'Yes' complete Schedule J for such individual 5 Did any person listed on line la receive or accrue compensation from any unrelated organization or individual fo r se rvi ces re n de red to the organization? If 'Yes,' complete Schedule J for such person Section B. Independent Contractors 1 4 No --^ X X X 5 Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the orcianization Report comoensatlon for the calendar year endinn with or within the nrnani7afinn 'c tnv „oar (A) Name and business address 2 - 3 (B) Description of services (C) Compensation Total number of independent contractors (Including but not limited to those listed above) who received more than $100,000 of compensation from the organization 01 0 ILLAUiUaL iunzno Norm 990 (2015) 47-1809663 Form 990 (2015 ) PROJECT VERITAS ACTION FUND Part VIII Statement of Revenue Check If Schedule 0 contains a response or note to any line in this Part VIII A Total r evenue y y l0 j 1 a 1 a Federated campaigns 'E 05 a ❑ D Revenue excluded from tax under sections 512-514 C Un r ela ted business revenue (B) Related or exempt function revenue Page 9 b Membership dues 1 b c Fundraising events 1 c d Related organizations ld e Government grants (contributions) 1 e f All other contributions, gifts, grants, and similar amounts not included above if g Noncash contributions included in lines la- 1fh Total. Add lines la-If 0 v 801 , 125. $ 801 , 125. Business Code d 2a b cc a, ----------------------------------- C d Cl) E d ------------------ f All other program service revenue g Total . Add lines 2a-2f a Investment income (including dividends, interest and other similar amounts) Income from investment of tax-exempt bond proceeds Royalties 3 4 5 (ii) Personal (p Real 6a Gross rents b Less rental expenses c Rental income or (loss) d Net rental income or (lo ss) 7a Gross amount from sales of assets other than inventory - (i) Securities -- ^- - -u -^ (ii) Other b Less cost or other basis and sales expenses c Gain or (loss) d Net gain or (loss) w 8a Gross income from fundraising events (not including $ of contributions reported on line 1c) a See Part IV, line 18 b b Less direct expenses c Net income or (loss) from fundraising events GC E s 5 9a Gross income from gaming activities a _ See Par t IV , line 19 b b Less direct expenses c Net income or (loss) from gaming activit ies 10a Gross sales of inventory, less returns a and allowances b Less cost of goods sold c Net income or (loss) from sales of inventory Miscellaneous Revenue 11a b c d e 12 BAA - - -- - -- -- - - - - _ - - f --- - Business Code --------------------------------------------------All other revenue Total . Add lines 11a-11d Total revenue . See instructions 801 125. TEEA0109L 1012115 0. 0 . 0. Form 990 (2015) Fdrm 990 (2015) PROJECT VERITAS ACTION FUND Statement of Functional Expenses Part IX 47-1809663 Section 501(c)(3) and 501(c)(4) organizations must complete all columns All other organizations must complete column (A) Check if Schedule 0 contains a response or note to any line in this Part IX (A ) ( B) (C) Do not include amounts reported on lines Total expenses Program service Management and 6b, 7b, 8b, 9b, and 10b of Part Vlll. expenses g eneral expenses 1 Grants and other assistance to domestic organizations and domestic governments See Part IV, line 21 2 Grants and other assistance to domestic individuals See Part IV, line 22 3 Grants and other assistance to foreign organizations, foreign governments, and foreign individuals See Part IV, lines 15 and 16 4 Benefits paid to or for members 5 Compensation of current officers, directors, trustees, and key employees 0. 0. 0. 6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) . . . 9 10 11 a Management b Legal 241 511. c Accounting d e f g 99 , 025. 34 , 445. Lobbying Professional fundraising services See Part IV, line 17 Investment management fees Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule 0) Advertising and promotion Office expenses Information technology Royalties 16 Occupancy 0. . 12, 936. Travel 18 Payments of travel or entertainment expenses for any federal, state, or local public officials Conferences, conventions, and meetings Interest Payments to affiliates 142 149. 337. 34 445. 12,936. 197. 197. 10,800. 17 19 20 21 22 Fundraising expenses Other salaries and wages Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) Other employee benefits Payroll taxes Fees for services (non-employees) 7 8 12 13 14 15 Page 10 10,800. 115, 717. 115,717. 18,439. 17,033. 1,406. 49 . 994. Depreciation, depletion, and amortization 23 Insurance 24 Other expenses Itemize expenses not covered above List misc ellaneous _expensesin line 24e If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule 0) 591. 691 597. b REIMBURSED- EXPENSES-OTHER _ _ - _ _ c FIELD RESEARCH _ __ ----- 41 , 843. 41 , 843. 12 , 070. 12 , 070. d COMMUNICATIONS ____-_______ 8 , 947. 21, 442. 8 , 947. 10, 013. 3, 929. 7,500. 1, 259, 938. 1, 009, 181. 242, 920. 7,837. a REIMBURSED PAYROLL, TAX & INS._ e All other expenses 25 Total functional expenses Add lines 1 through 24e 26 Joint costs . Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation Check here ^ P if following SOP 98-2 (ASC 958-720) 741 TEEA0110L 11/19/15 Form Form 990 (2015) PROJECT VERITAS ACTION FUND Balance Sh eet 47-1809663 Page 11 Check if Schedule 0 contains a response or note to any line in this Part X (A) Beginning of year 1 Cash - non-interest-bearing 2 3 Savings and temporary cash investments Pledges and grants receivable, net Accounts receivable, net 2 3 4 5 Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees Complete Part II of Schedule L 5 6 4 1, 339, 537. 0 7 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L Notes and loans receivable, net y a 8 9 Inventories for sale or use Prepaid expenses and deferred charges 10a Land, buildings, and equipment cost or other basis Complete Part VI of Schedule D b Less accumulated depreciation Investments - publicly traded securities 11 12 Investments - other securities See Part IV, line 11 13 Investments - program-related See Part IV, line 11 14 Intangible assets 15 Other assets See Part IV, line 11 d 16 17 18 19 20 21 22 M 23 24 25 26 10a 10b C 27 Unrestricted net assets 28 29 Temporarily restricted net assets Permanently restricted net assets 1, 323, 108. 9 11,592. 10c 11 12 13 14 15 Total assets . Add lines 1 through 15 (must equal line 34) Accounts payable and accrued expenses Grants payable Deferred revenue Tax-exempt bond liabilities Escrow or custodial account liability Complete Part IV of Schedule D Loans and other payables to current and former officers, directors, trustees, key employees , highest compensated employees , and disqualified persons Complete Part II of Schedule L Secured mortgages and notes payable to unrelated third parties Unsecured notes and loans payable to unrelated third parties Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24) Complete Part X of Schedule D Total liabilities . Add lines 17 through 25 m 1 6 7 8 8,592. Organizations that follow SFAS 117 (ASC 958), check here ^ lines 27 through 29, and lines 33 and 34. 1, 348, 129. 11, 131. 16 17 18 19 20 1,334,700. 73,484. 21 22 23 24 108 120 , 953. 25 491,984. 084. 26 565 , 468. 1,228 , 045. 27 769,232. and complete 28 29 Organizations that do not follow SFAS 117 (ASC 958), check here and complete lines 30 through 34. LL 0 30-Capitat-stock-ortrust-princlpa^--or current-funds Paid-in or capital surplus, or land, building, or equipment fund Retained earnings, endowment, accumulated income, or other funds 30 31 32 31 32 o (B) End oyear 33 34 Total net assets or fund balances Total liabilities and net assets/fund balances 1, 228, 045. 1, 348, 129. BAA 33 34 769,232. 1, 334, 700. Form 990 (2015) TEEA0111L 10/12/15 Page 12 47-1809663 Form 990 (201 5) PROJECT VERITAS ACTION FUND Part XI Reconciliation of Net Assets 3 4 Check if Schedule 0 contains a response or note to any line in this Part Xl Total revenue (must equal Part VIII, column (A), line 12) Total expenses (must equal Part IX, column (A), line 25) Revenue less expenses Subtract line 2 from line 1 Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) 5 6 7 8 Net unrealized gains (losses) on investments Donated services and use of facilities Investment expenses Prior period adjustments 5 6 9 Other changes in net assets or fund balances (explain in Schedule 0) Net assets or fund balances at end of year Combine lines 3 through 9 (must equal Part X, line 33, 9 0. 10 769,232. 1 2 10 1 2 3 4 801 125. 1 1 259 , 938. -458 , 813. 1 1 228 , 045. 7 8 column (B)) nancial Statements and Reporting Check if Schedule 0 contains a response or note to any line in this Part XII Yes Accounting method used to prepare the Form 990 1 11 Cash Accrual No Other If the organization changed its method of accounting from a prior year or checked 'Other,' explain in Schedule 0 2a Were the organization ' s financial statements compiled or reviewed by an independent accountant' If 'Yes,' check a box below to indicate whether the financial statements for the year were compiled or reviewed on a se arate basis , consolidated basis, or both consolidated and separate basis [Consolidated basis n Separate basis F ]Both b Were the organization ' s financial statements audited by an independent accountant? If 'Yes,' check a box below to indicate whether the financial statements for the year were audited on a separate basis , consolidated basis, or both [Both consolidated and separate basis Separate basis [ Consolidated basis I 2al 2 bl X X FX1 c If 'Yes' to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review , or compilation of its financial statements and selection of an independent accountant' If the organization changed either its oversight process or selection process during the tax year, explain in Schedule 0 3a As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-1337 b If 'Yes .' did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits , explain why in Schedule 0 and describe any steps taken to undergo such audits 2cl X 3al X 3 bl Form 990 (2015) BAA TEEA0112L 10/20/15 Supplemental Financial Statements OMB No 1545-0047 ^ Complete if the org anization answered ' Yes' on Form 990, 2015 SCHEDULE D (Form 990) of the tTreasury D Department Depart Internal en ofnue h Service ^ Part IV, line 6, 7, 8, 9, 10 , 11a, 11b , 11c, 11d , 11e, 11f, 12a , or 12b. ^ Attach to Form 990. Open to Public Information about Schedule D (Form 990) and its instructions is at www. irs.gov/form990. PROJECT VERITAS ACTION FUND Part I 47-1809663 Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered 'Yes' on Form 990, Part IV, line 6. (a) Donor advised funds 1 Total number at end of year 2 Aggregate value of contributions to (during year) Aggregate value of grants from (during year) Aggregate value at end of year 3 4 (b) Funds and other accounts 5 Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization ' s property , subject to the organization ' s exclusive legal control? E Yes R No 6 Did the organization inform all grantees , donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor , or for any other purpose conferring imp e rmi ssib l e p rivate be nefit? [] Yes No Part II 1 Conservation Easements. Complete if the organization answered 'Yes' on Form 990, Part IV, line 7. Purpose(s) of conservation easements held by the organization (check all that apply) Preservation of land for public use (e g , recreation or education) Preservation of a historically important land area Protection of natural habitat Preservation of a certified historic structure Preservation of open space H 2 Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year Held at the End of the Tax Year a Total number of conservation easements b Total acreage restricted by conservation easements c Number of conservation easements on a certified historic structure included in (a) a rb c d Number of conservation easements included in (c) acquired after 8/ 17/06, and not on a historic structure listed in the National Register 2d 3 Number of conservation easements modified , transferred , released , extinguished , or terminated by the organization during the tax year ^ 4 Number of states where property subject to conservation easement is located ^ 6 Does the organization have a written policy regarding the periodic monitoring , inspection, handling of violations, and enforcement of the conservation easements it holds ' Yes Staff and volunteer hours devoted to monitoring , inspecting , handling of violations , and enforcing conservation easements during the year 7 Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year 8 Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)' E Yes 5 9 No No In Part XIII , describe how the organization reports conservation easements in its revenue and expense statement, and balance sheet, and include, if applicable , the text of the footnote to the organization ' s financial statements that describes the organization ' s accounting for conservation easements Part1ry Organizations- Maintaining - Collections-ofArt ,-Historical Treasures-or Other Similar Asks. Complete if the organization answered 'Yes' on Form 990, Part IV, line 8. - -- 1 a If the organization elected, as permitted under SFAS 116 (ASC 958), not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items b If the organization elected, as permitted under SFAS 116 (ASC 958), to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items ^$ (i) Revenue included on Form 990, Part VIII, line 1 ^$ (ii) Assets included in Form 990, Part X If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the following amounts required to be reported under SFAS 116 (ASC 958) relating to these items $ a Revenue included on Form 990, Part VIII, line 1 Assets ^ $ included in For m b 990, Part X BAA For Paperwork Reduction Act Notice , see the Instructions for Form 990 . TEEa3301L 06/03/15 Schedule D (Form 990) 2015 Schedule D (Form 990) 2015 PROJECT VERITAS ACTION FUND Page 2 47-1809663 Part III Organization s Maintaining Collections of Art , Historical Treasures , or Other Similar Assets (continued) 3 Using the organization's acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply) Public exhibition a d H Loan or exchange programs Scholarly research b Other e Preservation for future generations c 4 Provide a description of the organization's collections and explain how they further the organization's exempt purpose in Part XIII During the year, did the organization solicit or receive donations of art, historical treasures, or other similar assets 5 to be sold to raise funds rather than to be maintained as part of the organization's collection? No 11 Yes Part IV Escrow and Custodial Arrangements . Complete if the organization answered 'Yes' on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21. 1 a Is the organization an agent, trustee , custodian or other intermediary for contributions or other assets not included on Form 990 , Part X7 b If 'Yes,' explain the arrangement in Part XIII and complete the following table Yes No Amount c Beginning balance d Additions during the year e Distributions during the year f Ending balance 1c 1d le if 2a Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial ac count liability b If 'Yes,' explain the arrangement in Part XIII Check here if the explanation has been provided c in Part XIII Part V Yes H No Endowment Funds . Complete if the or anizatlon answered 'Yes' on Form 990 , Part IV , line 10. (a) Current year (b) Prior year (c) Two years back (d) Three years back (e) Four years back 1 a Beginning of year balance b Contributions c Net investment earnings, gains, and losses d Grants or scholarships e Other expenditures for facilities and programs f Administrative expenses g End of year balance Provide the estimated percentage of the current year end balance (line lg, column (a)) held as a Board designated or quasi-endowment ^ % b Permanent endowment ^ o c Temporarily restricted endowment ^ % The percentages on lines 2a, 2b, and 2c should equal 100% 3 a Are there endowment funds not in the possession of the organization that are held and administered for the organization by (i) unrelated organizations (ii) related organizations b If 'Yes' on line 3a(ii), are the related organizations listed as required on Schedule R7 4 Describe in Part XIII the intended uses of the organization's endowment funds Part VI Yes No K3b Land , Buildin gs and Equipment. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11 a. See Form 990, Part X, line 10. Description of property (a) Cost or other basis (investment) (b) Cost or other basis (other) (c Accumulated depreciation (d) Book value 1 a Land b Buildings c Leasehold improvements d Equipment e Other Total . Add lines 1 a through 1 e (Column (d) must equal Form 990, Part X, column (B), line 10c) BAA ^ 0 Sched ule D (Form 990) 2015 TEEA3302L 10/12/15 Schedule D (Form 990) 2015 Page 3 PROJECT VERITAS ACTION FUND 47-1809663 Investments - Other Securities. N/A Com p lete if the or g anization answered 'Yes' on Form 990, Part IV, line 11 b. See Form 990, Part X, line 12. (b) Book value (c) Method of valuation: Cost or end-of-year market value (a) Description of security or category (including name of security) Part VII (1) Financial derivatives (2) Closely-held equity interests (3) Other ---------------------(A) -------------------------(B) ---------------------------(C) - -------------------------(E) -------------------------(F) -------------------------(G) -------------------------(H) -------------------------(1) Total (Column (b) must equal Form 990, Part X, column (B) line 12) Pnrf VIII Investments - Proaram Related. ^ 1 N/7 Com p lete if the organization answered ' Yes' on Form 990 , Part IV , line 11 c. See Form 990, Part X , line 13. (a) Description of investment (b) Book value (c) Method of valuation Cost or end-of-year market value (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Total. (Column (b) must eual Form 990, Part Xcolumn (B) line 13 Part IX ^ Other Assets. N/A Complete if the organization answered 'Yes' on Form 990, Part IV. line 11 d. See Form 990. Part X. line 15. (a) Description (b) Book value (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Total . (Column (b) must equal Form 990, Part X, column (8) line 15) Irart & ^ 1 utner Llannlues. Complete if the organization answered ' Yes' on Form 990, Part IV, line 1le or 11f. See Form 990, Part X, line 25 (a) Description of liability (1) Federal income taxes ( b) Book value (2) DUE AFFILIATE _ _ _ ____ _ _ _ _ - __1 491, 984. (5) (10) (11) Total (Column (b) must equal Form 990, Part X, column (B) line 25.) ^ 491,984. 2. Liability for uncertain tax positions In Part XIII, provide the text of the footnote to the organization ' s financial statements that reports the organization ' s liability for uncertain tax positions under FIN 48 (ASC 740 ) Check here if the text of the footnote has been provided in Part XIII BAA TEEA3303L 06/03/15 Schedule D (Form 990) 2015 Schedule D (Form 990) 2015 PROJECT VERITAS ACTION FUND 47-1809663 Part Xl Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a. Total revenue, gains, and other support per audited financial statements 2 Amounts included on line 1 but not on Form 990, Part VIII, line 12 a Net unrealized gains (losses) on investments b Donated services and use of facilities c Recoveries of prior year grants d Other (Describe in Part XIII 1 1 3 4 e Add lines 2a through 2d Subtract line 2e from line 1 Amounts included on Form 990, Part VIII, line 12, but not on line 1 a Investment expenses not included on Form 990, Part VIII, line 7b b Other (Describe in Part XIII 2a 2b 2c 2d 3 801, 125. 4a 4b 4c line 12) 5 801,125. Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a. Total expenses and losses per audited financial statements Amounts included on line 1 but not on Form 990, Part IX, line 25 1 2 801,125. 2e c Add lines 4a and 4b 5 Total revenue Add lines 3 and 4c. (This must equal Form 990, Part Part XIl Page 4 1 a Donated services and use of facilities b Prior year adjustments c Other losses d Other (Describe in Part XIII 1,259,938. 2a 2b 2c 2d e Add lines 2a through 2d Subtract line 2e from line 1 Amounts included on Form 990, Part IX, line 25, but not on line 1 a Investment expenses not included on Form 990, Part VIII, line 7b b Other (Describe in Part XIII c Add lines 4a and 4b 5 Total expenses Add lines 3 and 4c. (This must equal Form 990, Part 2e 3 4 3 1 , 259 , 938. 4c 5 1 259 , 938. 4a 4b line 18) Part XIII Supplemental Information. Provide the descriptions required for Part II, lines 3, 5, and 9, Part III, lines la and 4, Part IV, lines lb and 2b, Part V, line 4, Part X, line 2, Part XI, lines 2d and 4b, and Part XII, lines 2d and 4b Also complete this part to provide any additional information BAA Schedule D (Form 990) 2015 TEEA3304L 06/03/15 SCHEDULE J I Compensation Information I OMB No 1545-0047 (Form 990 ) For certain Officers , Directors , Trustees, Key Employees , and Highest Compensated Employees 01 Complete if the organization answered 'Yes' on Form 990 , Part IV, line 23. 201 5 Department of the Treasury Internal Revenue Service Attach to Form 990 . ^ Information about Schedule J (Form 990) and its instructions is at www.irs.gov/form990 . Open to Public Inspection Name of the organization Employer identification number PROJECT VERITAS ACTION FUND Part I Questions Regarding Compensation 47-1809663 Yes I No 1 a Check the appropriate box(es) if the organization provided any of the following to or for a person listed on Form 990, Part VII, Section A, line la Complete Part III to provide any relevant information regarding these items r] First-class or charter travel n Housing allowance or residence for personal use n Travel for companions F]Payments for business use of personal residence F] Tax indemnification and gross - up payments F]Health or social club dues or initiation fees FIDiscretionary spending account Personal services (e g , maid, chauffeur, chef) b If any of the boxes on line 1 a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If 'No,' complete Part III to explain 2 Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all directors, trustees, and officers, including the CEO/Executive Director, regarding the items checked in line la' 3 Indicate which , if any, of the following the filing organization used to establish the compensation of the organization's CEO/Executive Director Check all that apply Do not check any boxes for methods used by a related organization to establish compensation of the CEO /Executive Director, but explain in Part III 4 F] Compensation committee F] Written employment contract F1 Independent compensation consultant El Form 990 of other organizations F] Compensation survey or study 2 F] Approval by the board or compensation committee During the year, did any person listed on Form 990, Part VII, Section A, line la, with respect to the filing organization or a related organization a Receive a severance payment or change-of-control payment? b Participate in, or receive payment from, a supplemental nonquallfled retirement plan? c Participate in, or receive payment from, an equity-based compensation arrangement? If 'Yes' to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III 4a 4b 4c X X X 5a X 5b X 6a 6a 6b }{ Only section 501(cX3), 501(cX4), and 501 (cX29) organizations must complete lines 5-9. 5 For persons listed on Form 990, Part VII, Section A, line la, did the organization pay or accrue any compensation contingent on the revenues of a The organization? b Any related organization? If ' Yes ' to line 5a or 5b, describe in Part III 6 For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any compensation contingent on the net earnings of a The organization? b Any related organization ? If ' Yes ' on line 6a or 6b, describe in Part III X 7 For persons listed on Form 990, Part VII, Section A, line 1 a, did the organization provide any non-fixed payments not described on lines 5 and 6? If 'Yes,' describe in Part III 7 X 8 Were any amounts reported on Form 990, Part VII, paid or accrued pursuant to a contract that was subject to the initial contract exception described in Regulations section 53 4958-4(a)(3)7 If ' Yes, ' describe in Part III 8 X If 'Yes' to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53 4958-6(c)7 9 9 BAA For Paperwork Reduction Act Notice , see the Instructions for Form 990 . TEEA4101L 10/26/15 Schedule J ( Form 990) 2015 Schedule J (Form 990) 2015 PROJECT I VERITAS ACTION FUND Paae 2, 47 - 1809663 Part II Officers , Directors, Trustee s , Key Employees, and Highest Compensated Employees . Use duplicate copies if additional space is needed. For each individual whose compensation mus t be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the instructions, on row (u) Do not list any individuals that ar e not listed on Form 990, Part VII Note: The sum of columns (B)(1)-(111) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line la, applicable column (D) and (E) amounts for that individual (B) Breakdown of W-2 and/or 1099-MISC compensation ( A ) Name and Title p) Base compensation (u) Bonus & incentive compensation ("') other reportable compensation ( C ) R etirement and other (D) Nontaxable benefits (E) Total of (F) Compensation columns(B)(i)-(D) in column (B) deferred reported as compensation deferred on prior Form 990 JAMES O'KEEFE III 1 PRESIDENT 2 (1) 0. -------0. 0. -------0. 0. ------------------ ---(ii) 235,471. 0. 0. 7,187. 0. (i) -------- ------- -------- ------- -------- 3 (i) (ii) (i) 4 (ii) 5 (i) 0. - - ------- - - 0. 242,658. 0. ------- ------- -------- -------- ------- -------- ------- -------- - ------- ---- ---- -------- ------- -------- ------- -------- ------- - ------- -------- ------- -------- ------- ------- - ------- -------- ------- -------- ------- -------- ------- ---- ---- -------- -------- ------- -------- ------- -------- ------- ------- -------- ------- ------- -------- ------- ------- --- ----- ------- ------- -------- ------- ------- -------- ------- ------- -------- -- - --- - 6 (i) (ii) (i) 7 (ii) 8 (ii) (i) - ---- -- -------- -------- ------- -------- ------- -------(ii) (i) (ii) --------- --------- --- ------ --------- -------- --------- -------(i) (i) 9 10 (i) 13 15 16 BAA (i) (ii) (i) (i) (ii) (i) (ii) ------- -------- -------- TEEA4102L 10/26/15 ------- ----- --- Schedule J (Form 990) 2015 Schedule J (Form 990) 2015 Part III Page 3 47-1809663 PROJECTI VERITAS ACTION FUND Supplemental Information Provide the information, explanation', or descriptions required for Part I, lines 1 a, 1 b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part 11. Also complete this part for any additional) information. Schedule J (Form 990) 2015 BAA TEEA4103L 10/26/15 OMB No 1545-0047 Supplemental Information to Form 990 or 990 -EZ SCHEDULE 0 (Form 990 or 990- EZ) Department of the Treasury Internal Revenue Service Name of the organization Complete to provide information for responses to specific questions on Form 990 or 990-EZ or to provide any additional information. Attach to Form 990 or 990-EZ. 2o1 5 Open to Public ' Information about Schedule 0 ( Form 990 or 990 - EZ) and its instructions is Inspection at www. irs.gov/form990. Employer identification number 47-1809663 PROJECT VERITAS ACTION FUND FORM 990, PART III, LINE 1 - ORGANIZATION MISSION TO FURTHER THE COMMON GOOD AND GENERAL WELFARE OF THE CITIZENS OF THE UNITED STATES OF AMERICA BY CONDUCTING INVESTIGATIONS INTO WASTE, DISHONESTY, PUBLIC, FRAUD, ABUSE, CORRUPTION, SELF-DEALING AND OTHER MISCONDUCT FOR THE PURPOSE OF EDUCATING THE STAKEHOLDERS, POLICYMAKERS, AND COMMUNITY LEADERS IN ORDER TO CREATE A MORE ETHICAL AND TRANSPARENT SOCIETY. FORM 990, PART VI, LINE 11 B - FORM 990 REVIEW PROCESS OFFICERS AND BOARD MEMBERS ARE PROVIDED WITH A COPY OF FORM 990 FOR REVIEW AND DISCUSSION PRIOR TO FILING. FORM 990, PART VI , LINE 12C - EXPLANATION OF MONITORING AND ENFORCEMENT OF CONFLICTS N/A FORM 990, PART VI, LINE 19 - OTHER ORGANIZATION DOCUMENTS PUBLICLY AVAILABLE DOCUMENTS ARE MADE AVAILABLE UPON REQUEST FOR INSPECTION AT THE ORGANIZATIONS OFFICE LOCATION. BAA For Paperwork Reduction Act Notice , see the Instructions for Form 990 or 990 -EZ TEEA4901L 10/12/15 Schedule 0 (Form 990 or 990-EZ) (2015) OMB No 1545-0047 SCHEDULE R Related Organizations and Unrelated Partnerships (Form 990) 2015- Complete if the organization answered ' Yes' on Form 990, Part IV , line 33 , 34, 35b, 36, or 37. ^ Attach to Form 990. Information about Schedule R (Form 990) and its instructions is at www. irs.gov/form990. Department of the Treasury Internal Revenue Service Opn to Public Inspection Name of the organization PROJECT VERITAS ACTION FUND Part I Identification of Disregardeid Entities Complete if the organization answered 'Yes' on Form 990, Part IV, line 33. (a) (b) (c) (d) (e) (f) Name, address , and EIN ( if applicable) bf I disregarded entity Primary activity Legal domicile (state or foreign country ) Total Income End-of-year assets Direct controlling entity ------------------- L----------------------------- -------- --------------------- -----------(2) ------------------- -------------------------------- --------------------------------- ------------ (3)------------------- ------------------------------------------------------------ ------------ rl[,a l Identification of Related Tax-Exempt Organizations Complete if the organization answered 'Yes' on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year. (a) Name, address, and EIN of related organization (b) Primary activity (c) Legal domicile (state (d) Exempt Code (e) Public charity status (f) Direct controlling (g) Sec 512(b)(13) or foreign country) section (if section 501 (c)(3)) entity controlled entity7 Yes (1) PROJECT VERITAS -----------------------1214_ W _ __ . BO _ S_TON _PO S T_ ROAD_ MAMARONECK, NY 10543 -------------------- ------27-2894856 INFORMING & EDUCATING THE PUBLIC VA 501(C)(3) 170(B)(1)(A) (VI) N/A No X (2)------------------- L--------------------------------------------------- ------(3) ------------------- ------ --------------------- ------ (4) --------------------------------------------------------- ----------- BAA For Paperwork Reduction Act Notice, see the Instructions for Form 990. TEEA5001 L 06/01/15 Schedule R (Form 990) 2015 Schedule R (Form 990) 2015 PROJECT VERITAS ACTION FUND Page 2 47-1809663 Identification Taxable of Related Organizations as Partnership Complete the organization answered 'Yes' on Form 990, Part IV, line a if 34 '"rt III :P„^,a because it had one or more related organizations treated as a partnership during the tax year. (a) (b) (e) (d) (0 (h) f) 0) (k) Primary acts iity (e) (g) Name, address, and EIN of related organization Legal domicile Direct controlling Predominant income (related, unrelated, Share of total income Share of end-of-year Disproportionate Code V-1-1131 amount in box General or managing Percentage ownership (state or entity excluded from tax (1) foreign under sections country) 512-514 ) assets allocations? 20 of Schedule partner? K-1 (Form Yes No 1065) Yes No ------------- -- -------------- -----------(2) -- -------------- ------------ (3) ------------- -------------- ------------ Pa"r[ IV Identification of Related O rganizations Taxable as a Corporation or Trust Complete if the organization answered 'Yes' on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year. (a) (b) (c) (d) (e) (f) (g) (h) Name, address, and EIN of related orga nization Primary activity Legal domicile (state or foreign country) Type of entity (C corp, S corp, or trust) Share of total income Share o end-ofyear assets (t) Direct controlling entity Percentage ownership Sec 512(b)(13) controlled entity2 Yes (1) No ---------------------- -- (2) ------------------------------------- ---- -- -------------------- ------------T -(3) -- -------------------- -------------------- ------------------BAA --- TEEA5002L 06/01/15 Schedule R (Form 990) 2015 Schedule R (Form 990) 2015 PROJECT VERITAS ACTION FUND Page 3 . 47-1809663 Part V Transactions With Related Organizations Complete if the organization answered 'Yes' on Form 990, Part IV, line 34, 35b, or 36. Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule During the tax year , did the organization engage in any of the following transactions with one or more related organizations listed in Parts II-IV? 1 Yes No , a Receipt of (i) interest , (ii) annuities , (iii) royalties , or (iv) rent from a controlled entity b Gift, grant, or capital contribution to related organization (s) c Gift, grant , or capital contribution fromlI related organization(s) 1 a 1 b X x 1 c X d Loans or loan guarantees to or for related organization(s) e Loans or loan guarantees by related oganization(s) 1d 1 e X X f Dividends from related organization (s) g Sale of assets to related organization( ) 1 f 1 g X X h Purchase of assets from related organization(s) 1 h X i Exchange of assets with related organization(s) Lease of facilities, equipment, or otherl assets to related organization(s) 1 i 1j X X k Lease of facilities , equipment, or otherl assets from related organization(s) 1 k X I Performance of services or membershi p or fundraising solicitations for related organization(s) m Performance of services or membershi p or fundraising solicitations by related organization(s) n Sharing of facilities , equipment , mailini lists , or other assets with related organization(s) 11 1 m X o Sharing of paid employees with related organization(s) 10 X p Reimbursement paid to related organization (s) for expenses q Reimbursement paid by related organi ation(s) for expenses 1 p 1 q X r Other transfer of cash or property to re lated organization(s) 1 r X l s X X 1 n s Other transfer of cash or property from lrelated organization(s) 2 If the answer to any of the above is 'Yes,' see the instructions for information on who must complete this line, including covered relationships and transaction thresholds (a) (b) c Name of related organization Amount involved Transaction type (a-s ) X X d) Method determining of amount involved (1)PROJECT VERITAS 0 760,029 . REIMBURSED COS (2)PROJECT VERITAS P 123 , 684. REIMBURSED COS (3) (4) (5) (6) BAA i TEEA5003L 10/12/15 Schedule R (1-orm 990) 201 5 Schedule R (Form 990) 2015 Part VI Page 4 47-1809663 PROJECT VERITAS ACTION FUND Unrelated Organizations Taxable as a Partnership Complete if the organization answered 'Yes' on Form 990, Part IV, line 37. Provide the following information for each entityltaxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization See instructions regarding exclusion for certain investment partnerships (a) Name, address, and EIN of entity (b) Primary activity (c) Legal domicile (state or foreign country) (d) Predominant income ( related, unre lated, excluded from tax under (e) Are all partners section 501(c)(3) organizations? sections 512-514) Yes No (f) Share of total income (g) Share of end-of-year assets (h) Disproportionate allocations? Yes No G) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065) 0) General or managing partner Yes (k) Percentage ownership No (1) ----------------- - - - - - - - - - - - - - - - -(2) -------------------------------- (3) --------------- - - - - - - - - - - - - - - - -- - - - - - - - - - - - - - - - -(4) ----------------------------------------------(5) --------------- - - - - - - - - - - - - - - - ------------------- (6) ----------------------------------------------- m--------------- - - - - - - - - - - - - - - - -- - - - - - - - - - - - - - - - -- (8) --------------- - - - - - - - - - - - - - - - -- - - - - - - - - - - - - - - - -BAA TEEA5004L 06/01/15 Schedule R (Form yyU) ZUIb 47-1809663 Schedule R (Form 990) 2015 PROJECT VERITAS ACTION FUND FPartVII Supplemental Information Page 5 Provide additional information for responses to questions on Schedule R (see instructions). BAA TEEA5005L 06/01/15 Schedule R (Form 990) 2015