Form 990 for tax year 2023
Filed by WILLIAM R GAINES JR VETERAN MEMORIA L FUND INC.
Totals
- Total revenue
- $158,473
- Total expenses
- $65,793
- Contributions and grants received
- $137,682
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $20,791
- Other revenue
- $0
- Total assets, end of year
- $785,809
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $785,809
- Program services expenses (Part IX)
- $58,225
- Management and general expenses
- $7,568
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $58,225
Program services were 88.5% 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
$137,682
-
3 · Investment income
total $41,523 · related or exempt $41,523
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
securities $359,351
-
7b · Less cost or other basis and sales expenses
securities $380,083
-
7c · Gain or loss
securities -$20,732
-
7d · Net gain or loss
total -$20,732 · related or exempt -$20,732
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
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 $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $12,268 · program services $11,451 · management and general $817
-
11g · Fees: other
total $40,000 · program services $40,000
-
12 · Advertising and promotion
total $10,896 · program services $5,308 · management and general $5,588
-
13 · Office expenses
total $690 · management and general $690
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $382 · program services $382
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $447 · management and general $447
-
24a · Other expenses: EVENT EXPENSES - 5K RUN
total $356 · program services $356
-
24b · Other expenses: LICENSES & PERMITS
total $300 · program services $300
-
24c · Other expenses: JOB SUPPLIES
total $248 · program services $248
-
24d · Other expenses: BANK + PAYPAL FEES
total $206 · program services $180 · management and general $26
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $137,189 · end of year $93,416
-
2 · Savings and temporary cash investments
end of year $0
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
end of year $0
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $168 · end of year $0
-
10c · Land, buildings and equipment, net
end of year $0
-
11 · Investments: publicly traded securities
beginning of year $371,482 · end of year $202
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $170,739 · end of year $692,191
-
31 · Retained earnings, endowment or other funds
beginning of year $679,578 · end of year $785,809
Mission and programs · 2023
Mission
THE WILLIAM R. GAINES JR. VETERAN MEMORIAL FUND WAS ESTABLISHED TO HONOR THE SACRIFICE OF WILLIAM R. GAINES JR. AS WELL AS OTHER VETERANS AND FIRST RESPONDERS.
Activities or mission (Part I)
THE WILLIAM R. GAINES JR. VETERAN MEMORIAL FUND (THE FUND)WAS ESTABLISHED TO HONOR THE SACRIFICE OF WILLIAM R. GAINES JR. AS WELL AS OTHER VETERANS AND FIRST RESPONDERS. WILLAIM R. GAINES, JR., MADE THE ULTIMATE SACRIFICE FOR HIS COUNTRY. HE WAS KILLED IN THE ATTACK ON THE AMERICAN MARINE BARRACKS IN BEIRUT, LEBANON ON OCTOBER 23, 1983.IN MARCH 2023,THE FUND ALSO ENTERED INTO AN AGREEMENT WITH THE CHARLOTTE COMMUNITY FOUNDATION (CCF) TO HELP MANAGE THE FUNDRASING RELATED TO THE TOWER. UNDER THIS AGREEMENT, THE FUND TRANSFERRED CERTAIN OF ITS ASSETS TO THE CCF. THE JOINT VENTURE WAS INTENDED TO HELP THE FUND AND THE CCF TO WORK TOGETHER TO RECEIVE DONATIONS FOR THE TOWER AS WELL AS PAY VENDORS INVOLVED WITH THE TOWER'S CONSTRUCTION. THE OBJECTIVE WAS TO BUILD STRONGER COMMUNITY RELATIONS IN CHARLOTTE COUNTY. DUE TO CHANGES IN THE MANAGEMENT OF THE CCF, THE CCF TERMINATED THE AGREEMENT IN EARLY 2024. IN MARCH OF 2024, THEY RETURNED ALL FUNDS HELD BY THEM TO THE FUND, INCLUDING INTEREST.
-
BERUIT MEMORIAL TOWER - CONTINUED TO RECEIVE FUNDS FOR CONSTRUCTION OF THE TOWER AND COMPLETE DESIGN PLANS FOR THE TOWER.
Expenses $55,564 · Revenue $173,326
-
CONTINUED DEVELOPMENT OF THE ADA COMPLIANT KAYAK LAUNCH PLATFORM. HELD THE FOURTH ANNUAL 5K FREEDOM RUN IN 12/23 TO RAISE FUNDS TO CONSTRUCT THE LAUNCH.
Expenses $2,661 · Revenue $3,507
As filed on the 2023 return.
Listed in Part VII
-
Michael A GainesMICHAEL A GAINES
Chairman
- Total calculated
- $0
- Hours/week
- 10
-
Thurnell ShieldsTHURNELL SHIELDS
Director
- Total calculated
- $0
- Hours/week
- 0
-
Laura C DoveLAURA C DOVE
Director
- Total calculated
- $0
- Hours/week
- 0
-
Ken WintKEN WINT
Director
- Total calculated
- $0
- Hours/week
- 0
-
Jeff MosherJEFF MOSHER
Director
- Total calculated
- $0
- Hours/week
- 2
-
Stephen R DeutschSTEPHEN R DEUTSCH
Director
- Total calculated
- $0
- Hours/week
- 5
-
Jon WarmelingJON WARMELING
Director
- Total calculated
- $0
- Hours/week
- 0
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
- 2023
- Filed
- 1 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202511219349302456
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