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Nonprofiteer
← AMERICAN LEGION ENDOWMENT FUND CORPORATION

Form 990 for tax year 2023

Filed by AMERICAN LEGION ENDOWMENT FUND CORPORATION.

Totals

Total revenue
$1,099,453
Total expenses
$441,046
Contributions and grants received
$632,878
Grants paid
$358,908
Program service revenue
$0
Investment income
$466,575
Other revenue
$0
Total assets, end of year
$18,110,262
Total liabilities, end of year
$2,018,952
Net assets or fund balances, end of year
$16,091,310
Program services expenses (Part IX)
$358,908
Management and general expenses
$82,138
Fundraising expenses
$0
Program service expenses (Part III)
$358,908

Program services were 81.4% 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

    $12,596

  • 1d · Related organizations

    $547,922

  • 1f · All other contributions, gifts and grants

    $72,360

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $435,276 · excluded $435,276

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $8,817,267

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

    securities $8,785,968

  • 7c · Gain or loss

    securities $31,299 · other assets $0

  • 7d · Net gain or loss

    total $31,299 · excluded $31,299

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $358,908 · program services $358,908

  • 11b · Fees: legal

    total $16,909 · management and general $16,909

  • 11c · Fees: accounting

    total $5,224 · management and general $5,224

  • 11f · Fees: investment management

    total $55,940 · management and general $55,940

  • 11g · Fees: other

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

  • 12 · Advertising and promotion

    total $4,065 · management and general $4,065

  • 24e · All other expenses

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

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $910,512 · end of year $1,455,582

  • 3 · Pledges and grants receivable

    beginning of year $1,524,776 · end of year $1,264,560

  • 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

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $14,660,682 · end of year $15,278,700

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $85,448 · end of year $111,420

  • 17 · Accounts payable and accrued expenses

    beginning of year $850,890 · end of year $0

  • 18 · Grants payable

    beginning of year $23,046 · end of year $18,952

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $2,000,000 · end of year $2,000,000

  • 27 · Net assets without donor restrictions

    beginning of year -$168,478 · end of year -$45,924

  • 28 · Net assets with donor restrictions

    beginning of year $14,475,960 · end of year $16,137,234

Mission and programs · 2023

Mission

The American Legion Endowment Fund provides financial support for the organization's Veterans Affairs & Rehabilitation services and Children & Youth programs, including Temporary Financial Assistance in the form of cash grants to provide basic needs of veteran and military families with minor children at home.

  • Income from fund investments is passed on to the veterans affairs and rehabilitation and child welfare programs of American Legion National Headquarters. Some of the funds assist the veterans affairs and rehabilitation division with the following programs: 1. Provides funds for two annual department service officer's schools. Training is provided to these individuals to bring them up to date on the latest changes in department of veteran affairs and the United States Court of Appeals for veterans claims regulations, procedures and laws, respectively. 2. Provides funds for the American Legion and National Veterans Legal Services Program (NVLP) internship program, which provides training to legion staff assigned to the Board of Veterans Appeals (BVA) and to department service officers on temporary assignment to the BVA. 3. Partially finances a memorandum of agreement with the National Veterans Legal Services Program for training of legion service officers and legal representation before federal courts on veterans/claimants appeals considered to be of a precedential-setting nature.

    Expenses $358,908 · Grants $358,908

As filed on the 2023 return.

Listed in Part VII

  • Anthony G Jordan

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Hon Vincent M Gaughan

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • James E Koutz

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Stacy L Cope

    SECRETARY

    Total calculated
    $74,179
    From this org
    $0
    From related orgs
    $44,668
    Other
    $29,511
    Hours/week
    1 + 40 related

  • Charles E Schmidt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Clarence E Hill

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Denise H Rohan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Fang A Wong

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael D Helm

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Richard H Davison

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Shawn T Long

    National Treasurer

    Total calculated
    $481,641
    From this org
    $0
    From related orgs
    $333,769
    Other
    $147,872
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $219,306 related
    Bonus
    $0 + $15,000 related
    Other
    $0 + $99,463 related
    Deferred
    $0 + $107,514 related
    Nontaxable benefits
    $0 + $40,358 related
    Filer's total
    $0 + $481,641 related

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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
THE FOLLOWING INTERESTED PERSONS PARTICIPATED IN OR RECEIVED PAYMENT FROM SUPPLEMENTAL NONQUALIFIED RETIREMENT PLANS AS DESCRIBED IN IRC SECTION 457(F). PAYOUTS WERE RECEIVED FROM THE PLAN FOR THE FOLLOWING INDIVIDUALS: SHAWN T. LONG - $99,463 CONTRIBUTIONS WERE MADE TO THE PLAN FOR THE FOLLOWING Individual: SHAWN T. LONG - $32,500
Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
American Legion National Headquarters (ALNH) EIN 35-0144250 is the partner organization for American Legion Endowment Fund and therefore established compensation for the Executive Director, Officers and key employees through engaging with the compensation committee; third party compensation surveys and approval by the executive committee and board.

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
8 November 2024
IRS schema version
2023v5.1
Source object
202443129349303344

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