Form 990 for tax year 2024

Filed by VALOR PARTNERS FOUNDATION.

What the amendment changed

Compared with the return it replaced , filed 8 April 2025. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue: $860,051 changed to $533,460
Total expenses: $930,430 changed to $110,669
Contributions and grants received: $881,582 changed to $513,810
Grants paid: $750,000 changed to $10,000
Investment income: $8,463 changed to $14,352
Other revenue: -$29,994 changed to $5,298
Total assets, end of year: $801,662 changed to $512,367
Total liabilities, end of year: $750,970 changed to $38,884
Net assets or fund balances, end of year: $50,692 changed to $473,483
Program services expenses: $750,000 changed to $10,000
Management and general expenses: $56,295 changed to $28,818
Fundraising expenses: $124,135 changed to $71,851
Program service expenses (Part III): $750,000 changed to $10,000

Listed only on the earlier return

Stephen D Waldron

Listed only on the later return

April Blackmon-Strange
Chris Raider
Greg Murphy

Listed under a different title

David W Cornell: Secretary/Treasurer then Treasurer
Jessica Ramirez: Board Member then Secretary

Totals

Total revenue: $533,460
Total expenses: $110,669
Contributions and grants received: $513,810
Grants paid: $10,000
Program service revenue: $0
Investment income: $14,352
Other revenue: $5,298
Total assets, end of year: $512,367
Total liabilities, end of year: $38,884
Net assets or fund balances, end of year: $473,483
Program services expenses (Part IX): $10,000
Management and general expenses: $28,818
Fundraising expenses: $71,851
Program service expenses (Part III): $10,000

Program services were 9.0% 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

$0
1b · Membership dues

$0
1c · Fundraising events

$78,725
1d · Related organizations

$0
1e · Government grants (contributions)

$0
1f · All other contributions, gifts and grants

$435,085
1g · Noncash contributions included above

$0
3 · Investment income

total $14,352 · related or exempt $0 · unrelated business $0 · excluded $14,352
4 · Income from investment of tax-exempt bond proceeds

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
5 · Royalties

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
6c · Rental income or loss

real property $0 · personal property $0
7c · Gain or loss

securities $0 · other assets $0
8a · Fundraising events: gross income

$18,000
8a · Fundraising events: contributions included on line 1c

$78,725
8b · Fundraising events: direct expenses

$12,702
8c · Net income from fundraising events

total $5,298 · unrelated business $0 · excluded $5,298
11e · Other revenue, total

$0

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $0
2 · Grants to domestic individuals

total $10,000 · program services $10,000
5 · Compensation of officers, directors and key employees

total $52,250 · program services $0 · management and general $0 · fundraising $52,250
7 · Other salaries and wages

total $14,410 · program services $0 · management and general $0 · fundraising $14,410
10 · Payroll taxes

total $5,191 · program services $0 · management and general $0 · fundraising $5,191
11c · Fees: accounting

total $8,682 · program services $0 · management and general $8,682 · fundraising $0
11g · Fees: other

total $1,320 · program services $0 · management and general $1,320 · fundraising $0
12 · Advertising and promotion

total $900 · program services $0 · management and general $900 · fundraising $0
13 · Office expenses

total $3,282 · program services $0 · management and general $3,282 · fundraising $0
14 · Information technology

total $1,160 · program services $0 · management and general $1,160 · fundraising $0
17 · Travel

total $1,130 · program services $0 · management and general $1,130 · fundraising $0
19 · Conferences, conventions and meetings

total $10,335 · program services $0 · management and general $10,335 · fundraising $0
23 · Insurance

total -$1,332 · program services $0 · management and general -$1,332 · fundraising $0
24a · Other expenses: Donations

total $2,000 · program services $0 · management and general $2,000 · fundraising $0
24b · Other expenses: Miscellaneous

total $843 · program services $0 · management and general $843 · fundraising $0
24c · Other expenses: Bank fees & charges

total $498 · program services $0 · management and general $498 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $310,653 · end of year $77,402
2 · Savings and temporary cash investments

beginning of year $468,509 · end of year $412,861
3 · Pledges and grants receivable

beginning of year $20,000 · end of year $20,000
9 · Prepaid expenses and deferred charges

beginning of year $2,500 · end of year $2,104
17 · Accounts payable and accrued expenses

beginning of year $750,970 · end of year $38,884
25 · Other liabilities

beginning of year $0 · end of year $0
27 · Net assets without donor restrictions

beginning of year $50,692 · end of year $473,483
28 · Net assets with donor restrictions

beginning of year $0 · end of year $0

Mission and programs · 2024

Mission

Our mission is to honor veterans and educate their legacy. We do so by raising money for DEA-qualified students and then contributing it to post-secondary institutions that agree to match our donation, administer the scholarship program, and report back to us annually.

VPF has one program, partnerships with higher education institutions to create matched scholarships. Spring end-of-year reporting from VPF partner institutions showed 600 students received $1.43 million in scholarships in the 2024-25 academic year at 35 partner institutions. 42 partners are matching over $900,000 to create $1.8 million in scholarships for approximately 700 students in the 2025-26 academic year.

Expenses $10,000 · Grants $10,000

As filed on the 2024 return.

Listed in Part VII

Alan R Gorthy

President

Total calculated

$0

Hours/week

15
David W Cornell

Treasurer

Total calculated

$0

Hours/week

5
Greg Murphy

Treasurer

Total calculated

$0

Hours/week

5
Jessica Ramirez

Secretary

Total calculated

$0

Hours/week

1
Gregory B Gardner

Board Member

Total calculated

$0

Hours/week

1
Eric Barnhart

Board Member

Total calculated

$0

Hours/week

1
Austin Brathwait

Board Member

Total calculated

$0

Hours/week

1
Katye Riselli

Board Member

Total calculated

$0

Hours/week

1
Chris Raider

Board Member

Total calculated

$0

Hours/week

1
April Blackmon-Strange

Board Member

Total calculated

$0

Hours/week

1
Kelli Campbell-Goodnow

Executive Director

Total calculated

$0

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2024
Filed: 11 November 2025
IRS schema version: 2024v5.0
Source object: 202503179349310450

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