Form 990 for tax year 2022

Filed by VIETNAM VETERANS MEMORIAL FUND INC.

Totals

Total revenue: $11,197,934
Total expenses: $7,261,366
Contributions and grants received: $10,722,927
Grants paid: $0
Program service revenue: $306,500
Investment income: $91,975
Other revenue: $76,532
Total assets, end of year: $17,377,888
Total liabilities, end of year: $634,390
Net assets or fund balances, end of year: $16,743,498
Program services expenses (Part IX): $5,077,252
Management and general expenses: $494,994
Fundraising expenses: $1,689,120
Program service expenses (Part III): $5,077,252

Program services were 69.9% 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.

1c · Fundraising events

$35,895
1f · All other contributions, gifts and grants

$10,687,032
1g · Noncash contributions included above

$10,022
2a · Program service revenue: Site Fees

total $306,500 · related or exempt $306,500
3 · Investment income

total $291,348 · excluded $291,348
5 · Royalties

total $131,588 · excluded $131,588
7a · Gross sales of assets other than inventory

securities $4,295,448
7b · Less cost or other basis and sales expenses

securities $4,493,414 · other assets $1,407
7c · Gain or loss

securities -$197,966 · other assets -$1,407
7d · Net gain or loss

total -$199,373 · excluded -$199,373
8a · Fundraising events: gross income

$23,289
8a · Fundraising events: contributions included on line 1c

$35,895
8b · Fundraising events: direct expenses

$104,453
8c · Net income from fundraising events

total -$81,164 · excluded -$81,164
10a · Gross sales of inventory

$27,726
10b · Cost of goods sold

$8,901
10c · Net income from sales of inventory

total $18,825 · related or exempt $18,825
11a · Other revenue: Other revenue

total $7,283 · excluded $7,283
11e · Other revenue, total

$7,283

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $287,710 · program services $196,150 · management and general $36,350 · fundraising $55,210
7 · Other salaries and wages

total $1,165,850 · program services $826,636 · management and general $97,434 · fundraising $241,780
8 · Pension plan contributions

total $21,886 · management and general $21,886
9 · Other employee benefits

total $164,849 · program services $126,348 · management and general $12,816 · fundraising $25,685
10 · Payroll taxes

total $105,460 · program services $74,448 · management and general $9,287 · fundraising $21,725
11b · Fees: legal

total $19,311 · program services $6,755 · management and general $12,556
11c · Fees: accounting

total $129,271 · management and general $129,271
11e · Fees: professional fundraising services

total $361,584 · fundraising $361,584
11f · Fees: investment management

total $80,211 · management and general $80,211
11g · Fees: other

total $254,139 · program services $225,541 · management and general $28,598
12 · Advertising and promotion

total $12,300 · program services $2,050 · fundraising $10,250
13 · Office expenses

total $234,197 · program services $126,529 · management and general $12,401 · fundraising $95,267
14 · Information technology

total $106,105 · program services $100,174 · management and general $4,085 · fundraising $1,846
16 · Occupancy

total $114,018 · program services $95,756 · management and general $9,144 · fundraising $9,118
17 · Travel

total $311,799 · program services $287,332 · management and general $12,905 · fundraising $11,562
19 · Conferences, conventions and meetings

total $94,824 · program services $94,824
22 · Depreciation, depletion and amortization

total $733,339 · program services $709,952 · management and general $234 · fundraising $23,153
23 · Insurance

total $42,256 · program services $22,286 · management and general $15,179 · fundraising $4,791
24a · Other expenses: Direct Mail

total $2,563,805 · program services $1,981,135 · fundraising $582,670
24b · Other expenses: Caging - Direct Mail

total $223,746 · fundraising $223,746
24c · Other expenses: Repairs and Maintenance

total $188,046 · program services $188,046
24d · Other expenses: Dues and Subscriptions

total $29,503 · program services $8,036 · management and general $2,965 · fundraising $18,502
24e · All other expenses

total $17,157 · program services $5,254 · management and general $9,672 · fundraising $2,231
26 · Joint costs (an allocation of the lines above)

total $2,925,389 · program services $1,981,135 · management and general $0 · fundraising $944,254

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $875,106 · end of year $948,580
2 · Savings and temporary cash investments

beginning of year $431,615 · end of year $557,029
3 · Pledges and grants receivable

beginning of year $5,205 · end of year $130,303
9 · Prepaid expenses and deferred charges

beginning of year $175,159 · end of year $196,383
10a · Land, buildings and equipment: cost or other basis

$7,212,671
10b · Land, buildings and equipment: accumulated depreciation

$6,170,877
10c · Land, buildings and equipment, net

beginning of year $1,772,287 · end of year $1,041,794
11 · Investments: publicly traded securities

beginning of year $9,069,637 · end of year $13,910,806
15 · Other assets

beginning of year $453,007 · end of year $592,993
17 · Accounts payable and accrued expenses

beginning of year $534,345 · end of year $266,051
19 · Deferred revenue

beginning of year $81,610 · end of year $88,000
25 · Other liabilities

beginning of year $320,146 · end of year $280,339
27 · Net assets without donor restrictions

beginning of year $10,059,826 · end of year $15,211,502
28 · Net assets with donor restrictions

beginning of year $1,786,089 · end of year $1,531,996

Mission and programs · 2022

Mission

To honor and preserve the legacy of service and educate all generations about the impact of the Vietnam War.

Memorial Legacy - The Organization preserves the legacy of the memorial and promotes healing through ceremonies, activities, remembrance events and visitor engagement by the general public at the memorial. In person, online and through public service announcements, the Organization provides information about the history of the memorial and responds to questions from potential visitors. The Organization maintains a commemorative web site called The Wall of Faces, that allows families, friends and veterans to post remembrances of those whose names are inscribed on the memorial, extending the healing power and emotional impact of the wall to millions of people through the internet.

Expenses $3,038,068
The Wall That Heals - The Organization promotes healing and provides education about the impact of the Vietnam War through its traveling mobile exhibit called "The Wall That Heals". The Organization exhibits a three-quarter scale replica of the Vietnam Veterans Memorial in locations throughout the United States, making it possible for millions of individuals who are unable to travel to Washington, D.C., to recognize, remember, and honor those who served and died and to experience a connection with lost comrades and loved ones. The traveling memorial also includes a Mobile Education Center.

Expenses $738,826 · Revenue $325,325
Withheld by Nonprofiteer: this text may name a private individual.

Expenses $451,766
Withheld by Nonprofiteer: this text may name a private individual.

Expenses $259,500
Education programs - The Organization educates students about the impact of the Vietnam War and preserves the legacy of the Vietnam Veterans Memorial through its programs related to the education of students, teachers and visitors. The Organization's education programs reach teachers and students from grades 7 to 12 as well as higher education. The Hometown Heroes education curriculum provides program information to schools and community organizations encouraging students to write biographies of men and women from their community whose names are inscribed on the memorial. VVMF created the podcast "Echoes of the Vietnam War" to capture the stories of Vietnam veterans and share them with a broad audience. As an education effort, the podcast has been downloaded more than 250,000 times.

Expenses $228,666
In Memory - VVMF's In Memory program honors Vietnam veterans who served, returned home, and later died, but are not eligible for inscription on the wall under Department of Defense guidelines. Examples of causes of death that fit the criteria for inclusion in the program include: exposure to Agent Orange, PTSD/suicide, cancer, diabetes, and heart attack. The In Memory program also conducts a reading of the names and In Memory events.

Expenses $284,408
Outreach - Outreach efforts include all activities to make people aware of VVMF various programs and activities: presentations to visitor groups, veteran groups, or students about the Vietnam War; its veterans; and the Memorial. Outreach also makes people aware of the In Memory Program, The Wall That Heals, ceremonies and other activities that take place as part of VVMF's mission.

Expenses $76,018

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

Alan Buckelew

Chairman

Total calculated

$0

Hours/week

1
France Hoang

Treasurer

Total calculated

$0

Hours/week

1
Sharon Bannister

Director

Total calculated

$0

Hours/week

1
Denis Faherty

Director

Total calculated

$0

Hours/week

1
David Hine

Director

Total calculated

$0

Hours/week

1
Miguel Howe

Director

Total calculated

$0

Hours/week

1
Keith June

Director

Total calculated

$0

Hours/week

1
Viet Luong

Director

Total calculated

$0

Hours/week

1
Marty Marks

Director

Total calculated

$0

Hours/week

1
Allen McCabe

Director

Total calculated

$0

Hours/week

1
Michael McMahon

Director

Total calculated

$0

Hours/week

1
Norman Murray

Director

Total calculated

$0

Hours/week

1
Michael J Nardotti Jr

Director

Total calculated

$0

Hours/week

1
Janis Nark

Director

Total calculated

$0

Hours/week

1
Jeff Punches

Director

Total calculated

$0

Hours/week

1
Megan Rihn Smith

Director

Total calculated

$0

Hours/week

1
Harry G Robinson III

Director

Total calculated

$0

Hours/week

1
Jim Knotts

President & CEO

Total calculated

$287,766

From this org

$258,925

From related orgs

$0

Other

$28,841

Hours/week

50

Schedule J breakdown matched by us

Base

$222,692

Bonus

$33,750

Other

$2,483

Deferred

$7,851

Nontaxable benefits

$20,990

Filer's total

$287,766
Viktoras Zikas

Chief Development Officer

Total calculated

$239,369

From this org

$204,691

From related orgs

$0

Other

$34,678

Hours/week

40

Schedule J breakdown matched by us

Base

$185,371

Bonus

$19,320

Other

$0

Deferred

$6,110

Nontaxable benefits

$28,568

Filer's total

$239,369
Adam Arbogast

Senior Director

Total calculated

$126,640

From this org

$102,942

From related orgs

$0

Other

$23,698

Hours/week

40
Heidi Zimmerman

Vice President

Total calculated

$138,436

From this org

$115,392

From related orgs

$0

Other

$23,044

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 survey or study
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)

Part I, Line 3: The Executive Committee reviews, at least every two years, the employment terms and salary requirements based on salary comparison data and contemporaneous documentation of the decision is made by the committee for the President/CEO. The Executive Committee also approves salary requirements of other staff officers and key employees of the organization. The Executive Committee makes recommendations to the full Board related to executive compensation. The compensation philosophy of the board is to pay at market rate for base salary, offer competitive benefits as compared to similar nonprofits, and to reward exemplary performance with bonuses based on the annual performance review. Since 2014, the staff has been reduced by nearly half. To minimize expenses, the President and CEO assumed responsibilities for several positions that were eliminated. In addition to his primary duties, the President and CEO currently serves as Chief Operating Officer, Chief Information Officer, and overseer of the outsourced Chief Financial Officer and in-house finance staff. These efforts alone have reduced annual payroll costs by well over $300,000.

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: 2022
Filed: 22 March 2024
IRS schema version: 2022v5.0
Source object: 202440859349301314

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