Totals
- Total revenue
- $12,475,650
- Total expenses
- $13,307,657
- Contributions and grants received
- $11,592,596
- Grants paid
- $1,178,662
- Program service revenue
- $0
- Investment income
- $819,755
- Other revenue
- $63,299
- Total assets, end of year
- $7,609,215
- Total liabilities, end of year
- $1,062,983
- Net assets or fund balances, end of year
- $6,546,232
- Program services expenses (Part IX)
- $10,037,538
- Management and general expenses
- $2,267,657
- Fundraising expenses
- $1,002,462
- Program service expenses (Part III)
- $10,037,538
Program services were 75.4% 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.
-
1e · Government grants (contributions)
$1,500,000
-
1f · All other contributions, gifts and grants
$10,092,596
-
3 · Investment income
total $819,755 · unrelated business $0 · excluded $819,755
-
11a · Other revenue: Other
total $63,299 · related or exempt $0 · unrelated business $0 · excluded $63,299
-
11e · Other revenue, total
$63,299
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $1,178,662 · program services $1,178,662
-
7 · Other salaries and wages
total $3,279,916 · program services $2,351,699 · management and general $564,146 · fundraising $364,071
-
9 · Other employee benefits
total $637,639 · program services $457,186 · management and general $109,675 · fundraising $70,778
-
10 · Payroll taxes
total $251,502 · program services $180,327 · management and general $43,258 · fundraising $27,917
-
11b · Fees: legal
total $358,724 · program services $89,681 · management and general $269,043 · fundraising $0
-
11c · Fees: accounting
total $25,000 · program services $6,250 · management and general $18,750 · fundraising $0
-
11g · Fees: other
total $2,823,917 · program services $1,849,782 · management and general $749,904 · fundraising $224,231
-
12 · Advertising and promotion
total $318,502 · program services $302,713 · management and general $0 · fundraising $15,789
-
13 · Office expenses
total $635,580 · program services $279,343 · management and general $267,931 · fundraising $88,306
-
16 · Occupancy
total $413,131 · program services $320,068 · management and general $63,152 · fundraising $29,911
-
17 · Travel
total $1,655,001 · program services $1,400,246 · management and general $122,888 · fundraising $131,867
-
20 · Interest
total $32,706 · program services $23,843 · management and general $6,368 · fundraising $2,495
-
22 · Depreciation, depletion and amortization
total $240,509 · program services $175,331 · management and general $46,827 · fundraising $18,351
-
23 · Insurance
total $50,661 · program services $50,661 · management and general $0 · fundraising $0
-
24a · Other expenses: Client-specific assistance
total $1,373,423 · program services $1,357,994 · management and general $0 · fundraising $15,429
-
24b · Other expenses: Banking fees and other
total $32,784 · program services $13,752 · management and general $5,715 · fundraising $13,317
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,786,447 · end of year $2,805,832
-
2 · Savings and temporary cash investments
beginning of year $128,661 · end of year $67
-
4 · Accounts receivable
beginning of year $50,135 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $24,951 · end of year $17,495
-
10a · Land, buildings and equipment: cost or other basis
$1,263,851
-
10b · Land, buildings and equipment: accumulated depreciation
$613,654
-
10c · Land, buildings and equipment, net
beginning of year $167,900 · end of year $650,197
-
11 · Investments: publicly traded securities
beginning of year $4,625,126 · end of year $3,764,638
-
15 · Other assets
beginning of year $29,569 · end of year $370,986
-
17 · Accounts payable and accrued expenses
beginning of year $302,508 · end of year $595,236
-
23 · Secured mortgages and notes payable
beginning of year $149,748
-
24 · Unsecured notes and loans payable
end of year $467,747
-
25 · Other liabilities
beginning of year $85,750 · end of year $0
-
27 · Net assets without donor restrictions
beginning of year $7,241,582 · end of year $6,546,232
-
28 · Net assets with donor restrictions
beginning of year $33,201
Mission and programs · 2022
Mission
The Independence Fund's mission is to support our injured and wounded veterans with the tools to achieve their independence in thanks for the freedoms they have fought so hard to preserve by providing them with the mobility and adaptive devices, funding for those veterans and their caregivers to receive medical care and therapies, and advocating with other veteran's organization to obtain continuing services and support.
-
See Schedule O
Expenses $10,037,538 · Grants $1,178,662
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Arthur Pue
Chairman
- Total calculated
- $0
- Hours/week
- 5
-
Keita Franklin
Secretary
- Total calculated
- $0
- Hours/week
- 5
-
Alea Nadeem
Director
- Total calculated
- $0
- Hours/week
- 5
-
Rich Gross
Director
- Total calculated
- $0
- Hours/week
- 5
-
Mike Lenhart
Director
- Total calculated
- $0
- Hours/week
- 5
-
Cheryl Mason
Director
- Total calculated
- $0
- Hours/week
- 5
-
Jennifer Korn
Director
- Total calculated
- $0
- Hours/week
- 5
-
Sarah Verardo
CEO
- Total calculated
- $269,376
- From this org
- $265,000
- From related orgs
- $0
- Other
- $4,376
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $265,000
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $4,376
- Filer's total
- $269,376
-
Bob Carey
EVP-Advocacy
- Total calculated
- $118,300
- From this org
- $118,300
- From related orgs
- $0
- Other
- $0
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $118,300
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $118,300
-
Samuel Johnson
EVP-Operations
- Total calculated
- $181,200
- From this org
- $181,200
- From related orgs
- $0
- Other
- $0
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $81,195
- Bonus
- $0
- Other
- $100,005
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $181,200
-
Daniel T Elkins
Senior Advisor
- Total calculated
- $125,038
- From this org
- $105,038
- From related orgs
- $0
- Other
- $20,000
- 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
- 1a · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 4a · Severance or change-of-control payment
Answered no
- 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)
- Pt I Line 4a
- SEVERANCE FOR SAM JOHNSON
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
- 11 January 2024
- IRS schema version
- 2022v5.0
- Source object
- 202400269349300605
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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