Veritas Vinum Foundation
- Assets
- $4.9m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Sacramento, CA
- Founding
- Data as of
- 12/2021
- EIN
- 84-4409755
Organization Overview
Veritas Vinum Foundation is located in Sacramento, CA. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Veritas Vinum Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
IN THE 16TH CENTURY THE GREAT POLYMATH GALILEO GALILEI AFFECTIONATELY COMMENTED THAT [W]INE IS SUNLIGHT HELD TOGETHER BY WATER. THOUGH HE SAID SO FIVE CENTURIES AGO THAT IS BUT A BRIEF INTERVAL IN THE 9,000-YEAR HISTORY OF WINE. WINE IS DEEPLY TIED TO THE HISTORY OF HUMANITY. IN FACT SOME SCHOLARS ARGUE THAT IT WAS WINE ITSELF THAT BEGAN ANCIENT SOCIETY AND INDUSTRIALIZATION. IT IS FIRMLY DOCUMENTED THAT ANCIENT WINE RITUALS WERE USED IN ANCIENT GREECE ROME AND JUDEA TO WORSHIP THE GODS OF OLD; MANY OF WHICH HAVE EVOLVED AND CONTINUE TO BE USED TODAY. FURTHERMORE WINE CONTINUES TO BE AT THE FOREFRONT OF HUMAN SOCIETY AND ADVANCEMENT. THIS IS BECAUSE OENOLOGY THE SCIENCE OF STUDYING WINE AND WINE MAKING EXPANDS WELL BEYOND THE CONTOURS OF THE ORDINARY. IN THE FIELD OF LAW FOR EXAMPLE WINE AND OTHER INTOXICATING LIQUORS HAS OFTEN BEEN THE SUBJECT OF QUINTESSENTIAL JURISPRUDENCE AND DEBATE. AS A SUBJECT MATTER IT IS THE ONLY TOPIC TWICE CONSIDERED IN THE US CONSTITUTIO
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUNDS AND GOODS WILL BE COLLECTED FROM DONATIONS BY THE PUBLIC. THESE FUNDS WILL BE USED TO FACILITATE LECTURES BY EXPERIENCED SOMMELIERS AND WINEMAKERS ON THE HISTORY OF WINE-MAKING REGIONS WINE MAKING PRACTICES AND OTHER EDUCATIONALLY BASED WINE-RELATED TOPICS. THE FUNDS WILL ALSO BE USED TO CREATE SCHOLARSHIPS TO ALLOW UNDERPRIVILEGED INDIVIDUALS ACCESS TO SOMMELIER EDUCATION. THE FOUNDATION SHALL PROVIDE TRAINING ON PROPER WINE-RELATED ETIQUETTE AND METHODS TO MAXIMIZE A WINE'S POTENTIAL AS WELL AS THE IMPORTANCE OF APPROPRIATE GLASS AND STEMWARE AND SHOW HOW THIS CAN AFFECT THE FLAVOR OF WINE. ABOVE ALL THE FOUNDATION SHALL BE FOCUSED AND COMMITTED TO IMPROVING THE PUBLIC'S KNOWLEDGE OF THIS GREAT AND NOBLE FIELD OF STUDY. THE FOUNDATION WILL DO SO IN A FUN RESPONSIBLE AND WHOLISTIC WAY THAT EXPANDS BEYOND PUBLIC TASTINGS. IN DOING SO THIS FOUNDATION WILL DIRECTLY BENEFIT THE PUBLIC AS WELL AS THE STATE OF CALIFORNIA BY PROVING BETTER EDUCATED MARKET-PARTICIPANTS WHO CAN MAKE DECISIONS TO RESPONSIBLY AND ETHICALLY ENJOY WINE BEER AND RELATED SPIRITS.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,900,000 |
| Noncash contributions included in lines 1a–1f | $4,900,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,900,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,900,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $0 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,900,000 |
| Total assets | $4,900,000 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $4,900,000 |
| Total liabilities and net assets/fund balances | $4,900,000 |
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