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Nonprofiteer
← VETERANS OF FOREIGN WARS FOUNDATION

Form 990 for tax year 2023

Filed by VETERANS OF FOREIGN WARS FOUNDATION.

Totals

Total revenue
$7,276,524
Total expenses
$4,703,402
Contributions and grants received
$6,388,016
Grants paid
$3,315,338
Program service revenue
$0
Investment income
$888,508
Other revenue
$0
Total assets, end of year
$23,137,336
Total liabilities, end of year
$328,394
Net assets or fund balances, end of year
$22,808,942
Program services expenses (Part IX)
$3,644,707
Management and general expenses
$514,496
Fundraising expenses
$544,199
Program service expenses (Part III)
$3,644,707

Program services were 77.5% 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

    $46,311

  • 1f · All other contributions, gifts and grants

    $6,341,705

  • 1g · Noncash contributions included above

    $143,897

  • 3 · Investment income

    total $853,918 · excluded $853,918

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $24,574,778

  • 7b · Less cost or other basis and sales expenses

    securities $24,540,188

  • 7c · Gain or loss

    securities $34,590

  • 7d · Net gain or loss

    total $34,590 · excluded $34,590

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,245,160 · program services $3,245,160

  • 2 · Grants to domestic individuals

    total $70,178 · program services $70,178

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $110,749 · program services $22,151 · management and general $44,300 · fundraising $44,298

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $418,499 · program services $104,670 · management and general $150,311 · fundraising $163,518

  • 8 · Pension plan contributions

    total $41,757 · program services $10,444 · management and general $14,997 · fundraising $16,316

  • 9 · Other employee benefits

    total $118,732 · program services $29,695 · management and general $42,645 · fundraising $46,392

  • 10 · Payroll taxes

    total $43,995 · program services $11,003 · management and general $15,802 · fundraising $17,190

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $62,451 · management and general $62,451

  • 11c · Fees: accounting

    total $14,800 · management and general $14,800

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $60,037 · management and general $60,037

  • 11g · Fees: other

    total $231,230 · management and general $60,285 · fundraising $170,945

  • 12 · Advertising and promotion

    total $95,113 · program services $91,905 · fundraising $3,208

  • 13 · Office expenses

    total $71,635 · program services $15,459 · management and general $26,885 · fundraising $29,291

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $43,212 · program services $10,481 · management and general $15,787 · fundraising $16,944

  • 17 · Travel

    total $58,895 · program services $29,448 · fundraising $29,447

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $16,959 · program services $4,113 · management and general $6,196 · fundraising $6,650

  • 23 · Insurance

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $8,887,256 · end of year $4,280,388

  • 3 · Pledges and grants receivable

    beginning of year $43,351 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,411 · end of year $12,781

  • 10a · Land, buildings and equipment: cost or other basis

    $86,084

  • 10b · Land, buildings and equipment: accumulated depreciation

    $80,626

  • 10c · Land, buildings and equipment, net

    beginning of year $22,417 · end of year $5,458

  • 11 · Investments: publicly traded securities

    beginning of year $9,898,512 · end of year $18,787,143

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $42,470 · end of year $51,566

  • 17 · Accounts payable and accrued expenses

    beginning of year $236,851 · end of year $265,671

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $128,380 · end of year $62,723

  • 27 · Net assets without donor restrictions

    beginning of year $12,984,731 · end of year $17,302,801

  • 28 · Net assets with donor restrictions

    beginning of year $5,553,455 · end of year $5,506,141

Mission and programs · 2023

Mission

The VFW Foundation's mission is to serve and enhance the lives of military veterans, service members, and their families by securing resources to promote positive outcomes.

Activities or mission (Part I)

See Schedule O

  • Veterans Service Activities - The mission is to secure, manage and distribute resources to support veterans, active-duty personnel, the National Guard and reserve, their families, and communities. The VFW Foundation, in support of this mission, assisted over 40 military families in need of financial assistance with disbursements of $70,178 through the Un-Met Needs program to help families experiencing financial hardships with mortgage, car loans, utilities and other payments. The VFW Foundation provided grants of $55,371 that were used for recognition events for military members and their families and other programs to assist veterans. The VFW Foundation provided a $14,000 grant to assist with Valor Medals Review to help identify veterans that served in World War I that may have been denied the Medal of Honor because of race. The VFW Foundation expended $1,500,000 to provide scholarships for the VFW's Help-A-Hero Scholarship program. This program provides up to $5,000 in scholarships to veterans or current military personnel with a rank of E-5 or below. Additionally, the VFW Foundation expended $500,000 to support VFW Service Officers. These officers play a key role in assisting veterans in dealing with the Department of Veterans Affairs and other agencies. These officers are formally trained and accredited to represent veterans and their dependents or survivors. This structure ensures that no veteran, dependent or survivor needs to deal with the agencies administering veteran's programs without expert representation. During 2024, nearly 593,000 veterans represented by VFW Service Officers received over $14.6 billion in benefits from the Department of Veterans Administration.

    Expenses $2,789,324 · Grants $2,665,338

  • Community Service & Public Awareness - The mission supports programs that foster patriotism, citizenship education and volunteerism, community improvement and youth development programs. The VFW Foundation made grants of $650,000 to assist VFW Posts and Auxiliaries with outreach projects in their respective communities, so that VFW Posts could continue to be a resource for their local communities.

    Expenses $855,383 · Grants $650,000

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Lisa Baronio

    Exec Director, term end 3/2024

    Total calculated
    $196,454
    From this org
    $163,919
    From related orgs
    $0
    Other
    $32,535
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $163,919
    Bonus
    not reported
    Other
    not reported
    Deferred
    $8,575
    Nontaxable benefits
    $23,960
    Filer's total
    $196,454

  • Richard Freiburghouse

    Manager

    Total calculated
    $138,024
    From this org
    $108,498
    From related orgs
    $0
    Other
    $29,526
    Hours/week
    45

  • Dan West

    President

    Total calculated
    $0
    Hours/week
    5

  • Marc Garduno

    Secretary/Treasurer

    Total calculated
    $0
    Hours/week
    5

  • Duane Sarmiento

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Ann Panteleakos

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Gordon Logan

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Michael Derosa

    Board Chairman

    Total calculated
    $0
    Hours/week
    5

  • Jordan Drury

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Prasad Reddy

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Robert Wallace

    Board Member

    Total calculated
    $0
    Hours/week
    1

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 · 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

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

Provenance

Return type
form_990
Tax year
2023
Filed
13 December 2024
IRS schema version
2023v5.1
Source object
202433489349300913

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