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Nonprofiteer
← VETERANS ENTERPRISE TRAINING & SERVICES GROUP INC

Form 990 for tax year 2024

Filed by VETERANS ENTERPRISE TRAINING & SERVICES GROUP INC.

Totals

Total revenue
$81,623
Total expenses
$247,790
Contributions and grants received
$71,468
Grants paid
$0
Program service revenue
$10,155
Investment income
$0
Other revenue
$0
Total assets, end of year
$32,870
Total liabilities, end of year
$339,370
Net assets or fund balances, end of year
-$306,500
Program services expenses (Part IX)
$185,584
Management and general expenses
$44,059
Fundraising expenses
$18,147
Program service expenses (Part III)
$185,584

Program services were 74.9% 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.

  • 1f · All other contributions, gifts and grants

    $71,468

  • 2a · Program service revenue: IT TRAINING/EMPLOY OPP

    total $10,155 · unrelated business $0 · excluded $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $67,415 · program services $40,449 · management and general $16,854 · fundraising $10,112

  • 7 · Other salaries and wages

    total $45,285 · program services $27,171 · management and general $11,321 · fundraising $6,793

  • 10 · Payroll taxes

    total $8,279 · program services $4,967 · management and general $2,070 · fundraising $1,242

  • 11c · Fees: accounting

    total $4,000 · program services $0 · management and general $4,000 · fundraising $0

  • 16 · Occupancy

    total $28,000 · program services $25,200 · management and general $2,800 · fundraising $0

  • 20 · Interest

    total $9 · program services $0 · management and general $9 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $5,111 · program services $5,111 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $6,845 · program services $0 · management and general $6,845 · fundraising $0

  • 24a · Other expenses: PROGRAM EXPENSES

    total $65,254 · program services $65,254 · management and general $0 · fundraising $0

  • 24b · Other expenses: PRINTING AND SUPPLIES

    total $6,976 · program services $6,976 · management and general $0 · fundraising $0

  • 24c · Other expenses: TELEPHONE

    total $5,537 · program services $5,537 · management and general $0 · fundraising $0

  • 24d · Other expenses: SUPPLIES, TRANSPORTATION, AND MEALS

    total $4,919 · program services $4,919 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $160 · program services $0 · management and general $160 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $149,365 · end of year $24,318

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

    $94,408

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

    $89,362

  • 10c · Land, buildings and equipment, net

    beginning of year $8,231 · end of year $5,046

  • 15 · Other assets

    beginning of year $5,431 · end of year $3,506

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $15,000

  • 24 · Unsecured notes and loans payable

    beginning of year $300,700 · end of year $298,855

  • 25 · Other liabilities

    beginning of year $2,660 · end of year $25,515

  • 27 · Net assets without donor restrictions

    beginning of year -$140,333 · end of year -$306,500

Mission and programs · 2024

Mission

TO PROVIDE A HOLISTIC PROGRAM FOR VETERANS, THEIR FAMILIES AND THE COMMUNITY TO ACHIEVE ECONOMIC EMPOWERMENT THROUGH EDUCATION, EMPLOYMENT, AND ENTREPRENEURSHIP. WE OFFER SMALL BUSINESS, FINANCIAL LITERACY

  • INFORMATION TECHNOLOGY EMPLOYMENT TRAINING PROGRAM. IN FISCAL YEAR 2024, WE HAD 53 STUDENTS ENROLLED IN AT LEAST ONE OF OUR IT TRAINING PROGRAMS. OUR STUDENT RETENTION RATE WAS 91%. 62% ARE CURRENTLY EMPLOYED AND 65% OBTAINED ONE OR MORE INDUSTRY RECOGNIZED CERTIFICATIONS WITH MANY OTHERS PENDING A CERTIFICATION. IN ADDITION, ABOUT 15% OF THE STUDENTS ENROLLED WERE VETERANS.

    Expenses $185,584 · Revenue $10,155

As filed on the 2024 return.

Listed in Part VII

  • Joe Wynn

    BOARD/CHAIRMAN

    Total calculated
    $67,415
    From this org
    $67,415
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Ronald Washington

    BOARD/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Queen Jones

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Kim Harwell

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Rhonda Smith

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Anthony Williams

    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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
1 July 2025
IRS schema version
2024v5.2
Source object
202502139349301420

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