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Nonprofiteer
← FOLDS OF HONOR FOUNDATION

Form 990 for tax year 2023

Filed by FOLDS OF HONOR FOUNDATION.

Totals

Total revenue
$407,540
Total expenses
$421,816
Contributions and grants received
$466,323
Grants paid
$397,313
Program service revenue
$0
Investment income
$0
Other revenue
-$58,783
Total assets, end of year
$126,212
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$126,212
Program services expenses (Part IX)
$416,718
Management and general expenses
$5,098
Fundraising expenses
$0
Program service expenses (Part III)
$416,718

Program services were 98.8% 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

    $65,758

  • 1f · All other contributions, gifts and grants

    $400,565

  • 8a · Fundraising events: gross income

    $68,411

  • 8a · Fundraising events: contributions included on line 1c

    $65,758

  • 8b · Fundraising events: direct expenses

    $127,194

  • 8c · Net income from fundraising events

    total -$58,783 · excluded -$58,783

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $397,313 · program services $397,313

  • 12 · Advertising and promotion

    total $18,295 · program services $14,636 · management and general $3,659

  • 13 · Office expenses

    total $4,674 · program services $3,739 · management and general $935

  • 23 · Insurance

    total $1,287 · program services $1,030 · management and general $257

  • 24a · Other expenses: MEALS

    total $247 · management and general $247

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $140,488 · end of year $126,212

  • 27 · Net assets without donor restrictions

    beginning of year $140,488 · end of year $126,212

Mission and programs · 2023

Mission

TO FUND EDUCATIONAL SCHOLARSHIPS FOR THE DEPENDENTS OF FALLEN AND DISABLED ACTIVE DUTY MILITARY SERVICE MEMBERS.

  • FOLDS OF HONOR, MICHIGAN CHAPTER, PROVIDES THE NATIONAL ORGANIZATION WITH GRANT FUNDS THAT PROVIDE RECIPIENTS WITH HIGHER EDUCATION SCHOLARSHIPS AND CHILDREN'S FUND SCHOLARSHIPS FOR SPOUSES AND DEPENDENTS OF SERVICE MEMBERS WHO WERE KILLED IN ACTION, KILLED IN THE LINE OF DUTY, OR SUFFERED THE LOSS OF A LIMB; DIED OF ANY CAUSE WHILE ON ACTIVE DUTY OR AFTER BEING CLASSIFIED AS HAVING A SERVICE-CONNECTED DISABILITY. SCHOLARSHIPS ARE USED TO SUBSIDIZE THE COST OF TUITION, SCHOOL BOOKS, FEES FOR CAMPUS ROOM AND BOARD, APPROVED EDUCATIONAL TUTORING, AND OTHER APPROVED EDUCATIONAL EXPENSES. THE MICHIGAN CHAPTER WAS AWARDED 70 SCHOLARSHIPS WITH A TOTAL AWARD AMOUNT OF 323,000.

    Expenses $416,718 · Grants $397,313

As filed on the 2023 return.

Listed in Part VII

  • Mark Arminio

    MICHIGAN REP

    Total calculated
    $0
    Hours/week
    0.25

  • Doug Bell

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Ann Davis

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Mark Kelley

    BOARD EXEC T

    Total calculated
    $0
    Hours/week
    0.25

  • Madonna Kramer

    SECETARY

    Total calculated
    $0
    Hours/week
    2

  • Gary McInerney

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • John Somers

    BOARD PRESID

    Total calculated
    $0
    Hours/week
    1

  • Chris Streng

    BOARD TREASU

    Total calculated
    $0
    Hours/week
    3

  • Skip Strzelecki

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Scott Wagasky

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

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

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.0
Source object
202443199349305754

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