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Nonprofiteer
← CHILDREN OF FALLEN PATRIOTS FOUNDATION

Form 990 for tax year 2023

Filed by CHILDREN OF FALLEN PATRIOTS FOUNDATION.

Totals

Total revenue
$12,377,838
Total expenses
$14,310,981
Contributions and grants received
$12,204,725
Grants paid
$10,159,707
Program service revenue
$0
Investment income
$563,360
Other revenue
-$390,247
Total assets, end of year
$16,291,062
Total liabilities, end of year
$148,635
Net assets or fund balances, end of year
$16,142,427
Program services expenses (Part IX)
$12,276,657
Management and general expenses
$731,817
Fundraising expenses
$1,302,507
Program service expenses (Part III)
$12,276,657

Program services were 85.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $15,422

  • 1c · Fundraising events

    $4,782,428

  • 1f · All other contributions, gifts and grants

    $7,406,875

  • 3 · Investment income

    total $563,360 · excluded $563,360

  • 8a · Fundraising events: gross income

    $322,750

  • 8a · Fundraising events: contributions included on line 1c

    $4,782,428

  • 8b · Fundraising events: direct expenses

    $712,997

  • 8c · Net income from fundraising events

    total -$390,247 · excluded -$390,247

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $10,159,707 · program services $10,159,707

  • 5 · Compensation of officers, directors and key employees

    total $352,818 · program services $202,519 · management and general $66,497 · fundraising $83,802

  • 7 · Other salaries and wages

    total $2,131,944 · program services $1,223,748 · management and general $401,813 · fundraising $506,383

  • 9 · Other employee benefits

    total $248,078 · program services $144,620 · management and general $44,981 · fundraising $58,477

  • 10 · Payroll taxes

    total $178,966 · program services $103,659 · management and general $31,965 · fundraising $43,342

  • 11c · Fees: accounting

    total $31,198 · management and general $31,198

  • 11g · Fees: other

    total $126,310 · program services $58,125 · management and general $44,012 · fundraising $24,173

  • 12 · Advertising and promotion

    total $120,853 · program services $56,240 · fundraising $64,613

  • 13 · Office expenses

    total $266,260 · program services $100,581 · management and general $7,527 · fundraising $158,152

  • 14 · Information technology

    total $144,838 · program services $50,660 · management and general $55,133 · fundraising $39,045

  • 16 · Occupancy

    total $13,068 · program services $7,950 · management and general $2,414 · fundraising $2,704

  • 17 · Travel

    total $115,231 · program services $81,302 · management and general $2,112 · fundraising $31,817

  • 19 · Conferences, conventions and meetings

    total $381,787 · program services $87,546 · management and general $5,804 · fundraising $288,437

  • 23 · Insurance

    total $13,509 · management and general $13,509

  • 24a · Other expenses: Annual filing fee

    total $18,228 · management and general $18,228

  • 24b · Other expenses: Licenses and permits

    total $5,330 · management and general $5,058 · fundraising $272

  • 24c · Other expenses: Membership dues

    total $2,856 · management and general $1,566 · fundraising $1,290

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,133,752 · end of year $1,042,875

  • 2 · Savings and temporary cash investments

    beginning of year $12,372,354 · end of year $12,875,394

  • 3 · Pledges and grants receivable

    beginning of year $1,590,632 · end of year $2,249,588

  • 9 · Prepaid expenses and deferred charges

    beginning of year $168,022 · end of year $123,205

  • 17 · Accounts payable and accrued expenses

    beginning of year $189,190 · end of year $148,635

  • 27 · Net assets without donor restrictions

    beginning of year $13,929,907 · end of year $13,343,571

  • 28 · Net assets with donor restrictions

    beginning of year $4,145,663 · end of year $2,798,856

Mission and programs · 2023

Mission

The Foundation was formed for the purpose of providing college scholarships and educational counseling to military children who have lost a parent in the line of duty.

Activities or mission (Part I)

Provides college scholarships and educational counseling to military children who have lost a parent in the line of duty.

  • Educational Scholarships:Provided college scholarships and educational counseling to military children who have lost a parent in the line of duty.

    Expenses $12,276,657 · Grants $10,159,707

As filed on the 2023 return.

Listed in Part VII

  • Thomas M McGann

    Chair

    Total calculated
    $0
    Hours/week
    1

  • David Y Kim

    Co-founder & Chief Executive Officer

    Total calculated
    $0
    Hours/week
    1

  • David Daigle

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Nancy Armstrong

    Director

    Total calculated
    $0
    Hours/week
    1

  • Benjamin Y Carter

    Director

    Total calculated
    $0
    Hours/week
    1

  • Robert J Sweeney

    Director

    Total calculated
    $0
    Hours/week
    1

  • Peter Hogarth

    CFO & Co-Chief of Staff

    Total calculated
    $352,818
    From this org
    $330,000
    From related orgs
    $0
    Other
    $22,818
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $300,000
    Bonus
    $30,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $22,818
    Filer's total
    $352,818

  • Steven Smith

    Development Officer

    Total calculated
    $196,561
    From this org
    $195,657
    From related orgs
    $0
    Other
    $904
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $186,340
    Bonus
    $9,317
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $904
    Filer's total
    $196,561

  • Luisa Zhou

    VP Finance & Sr. Dir of Ops

    Total calculated
    $229,495
    From this org
    $208,833
    From related orgs
    $0
    Other
    $20,662
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $189,583
    Bonus
    $19,250
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $20,662
    Filer's total
    $229,495

  • Lillian Hoffer

    Development Officer

    Total calculated
    $137,676
    From this org
    $137,500
    From related orgs
    $0
    Other
    $176
    Hours/week
    40

  • Jeanette McMahon

    Development Officer

    Total calculated
    $112,942
    From this org
    $112,750
    From related orgs
    $0
    Other
    $192
    Hours/week
    40

  • Mary Grace McCormick

    Asst Controller

    Total calculated
    $106,057
    From this org
    $105,865
    From related orgs
    $0
    Other
    $192
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3:
The Chief Executive Officer receives no compensation. The compensation of the Chief Financial Officer and other upper management is determined by a Compensation Committee and approved by the Board of Directors.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
2 April 2024
IRS schema version
2023v5.0
Source object
202410939349301001

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