Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $2,481,019

• 1f · All other contributions, gifts and grants

  $59,817,700

• 1g · Noncash contributions included above

  $485,649

• 3 · Investment income

  total $1,783,599 · excluded $1,783,599

• 6a · Gross rents

  real property $167,357

• 6b · Less rental expenses

  real property $285,074

• 6c · Rental income or loss

  real property -$117,717

• 6d · Net rental income or loss

  total -$117,717 · excluded -$117,717

• 7a · Gross sales of assets other than inventory

  securities $66

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

  securities $0

• 7c · Gain or loss

  securities $66

• 7d · Net gain or loss

  total $66 · excluded $66

• 8a · Fundraising events: gross income

  $124,617

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

  $2,481,019

• 8b · Fundraising events: direct expenses

  $617,433

• 8c · Net income from fundraising events

  total -$492,816 · excluded -$492,816

• 10a · Gross sales of inventory

  $853,204

• 10b · Cost of goods sold

  $483,086

• 10c · Net income from sales of inventory

  total $370,118 · related or exempt $370,118

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $31,655,709 · program services $31,655,709

• 5 · Compensation of officers, directors and key employees

  total $1,483,955 · program services $435,429 · management and general $415,143 · fundraising $633,383

• 7 · Other salaries and wages

  total $5,295,824 · program services $4,554,591 · management and general $628,080 · fundraising $113,153

• 8 · Pension plan contributions

  total $364,445 · program services $315,678 · management and general $37,785 · fundraising $10,982

• 9 · Other employee benefits

  total $992,280 · program services $908,945 · management and general $83,335

• 10 · Payroll taxes

  total $476,623 · program services $405,130 · management and general $47,662 · fundraising $23,831

• 11g · Fees: other

  total $101,278 · program services $40,511 · management and general $50,639 · fundraising $10,128

• 12 · Advertising and promotion

  total $4,929,604 · program services $3,799,340 · management and general $144,343 · fundraising $985,921

• 13 · Office expenses

  total $434,512 · program services $294,995 · management and general $72,690 · fundraising $66,827

• 14 · Information technology

  total $430,985 · program services $280,140 · management and general $86,197 · fundraising $64,648

• 16 · Occupancy

  total $79,289 · program services $59,467 · management and general $11,893 · fundraising $7,929

• 17 · Travel

  total $463,510 · program services $458,759 · fundraising $4,751

• 22 · Depreciation, depletion and amortization

  total $520,069 · program services $260,034 · management and general $156,021 · fundraising $104,014

• 23 · Insurance

  total $157,776 · program services $118,332 · management and general $23,666 · fundraising $15,778

• 24a · Other expenses: RECEPTIONS AND EVENTS

  total $2,254,663 · program services $1,661,205 · management and general $438,354 · fundraising $155,104

• 24b · Other expenses: EQUIPMENT RENTAL AND MA

  total $481,611 · program services $361,208 · management and general $72,242 · fundraising $48,161

• 24c · Other expenses: BANK CHARGES

  total $347,060 · management and general $173,530 · fundraising $173,530

• 24d · Other expenses: SCHOLARSHIP EXPENSES

  total $329,220 · program services $329,220

• 24e · All other expenses

  total $890,107 · program services $450,219 · management and general $263,463 · fundraising $176,425

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $8,885,564 · end of year $8,061,713

• 2 · Savings and temporary cash investments

  beginning of year $31,617,482 · end of year $41,017,695

• 3 · Pledges and grants receivable

  beginning of year $795,296 · end of year $1,949,471

• 4 · Accounts receivable

  beginning of year $729,655 · end of year $77,833

• 8 · Inventories for sale or use

  beginning of year $324,528 · end of year $822,297

• 9 · Prepaid expenses and deferred charges

  beginning of year $915,686 · end of year $427,186

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

  $21,073,942

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

  $2,213,800

• 10c · Land, buildings and equipment, net

  beginning of year $15,806,923 · end of year $18,860,142

• 11 · Investments: publicly traded securities

  beginning of year $21,006,062 · end of year $23,945,769

• 12 · Investments: other securities

  end of year $716,328

• 15 · Other assets

  beginning of year $7,039,430 · end of year $9,509,787

• 17 · Accounts payable and accrued expenses

  beginning of year $13,577,453 · end of year $16,552,828

• 19 · Deferred revenue

  beginning of year $10,779 · end of year $751,239

• 27 · Net assets without donor restrictions

  beginning of year $64,490,881 · end of year $74,707,659

• 28 · Net assets with donor restrictions

  beginning of year $9,041,513 · end of year $13,376,495

The filer's explanations (Part III)

PART I, LINE 1A

DUE TO EXTRAORDINARY TRAVEL DEMANDS, THE ORGANIZATION LEASES AN AIRCRAFT FOR THE CEO'S USE. THE ORGANIZATION PAID SOCIAL CLUB DUES ON BEHALF OF SEVERAL OFFICERS IN ORDER TO MAINTAIN PGA, SPONSOR AND MAJOR DONOR RELATIONSHIPS DURING THE YEAR.

PART I, LINE 4B

THE FOUNDATION ENTERED INTO A LONG-TERM INCENTIVE COMPENSATION ARRANGEMENT WITH CEO LT COL DAN ROONEY. THE CEO HAS THE OPPORTUNITY TO EARN UP TO $80,000 ANNUALLY.

PART I, LINE 7

DISCRETIONARY BONUSES ARE PAID TO EMPLOYEES.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• PATRIOT COTTAGES LLC

  RENTAL · OK · income -$61,465 · assets $1,620,718

  Directly controlled by FOLDS OF HONOR FOUNDATION