Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $37,858

• 1f · All other contributions, gifts and grants

  $1,824,327

• 3 · Investment income

  total $1,250,670 · excluded $1,250,670

• 7a · Gross sales of assets other than inventory

  securities $7,662,606

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

  securities $6,496,196

• 7c · Gain or loss

  securities $1,166,410

• 7d · Net gain or loss

  total $1,166,410 · excluded $1,166,410

• 8a · Fundraising events: gross income

  $0

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

  $37,858

• 8b · Fundraising events: direct expenses

  $37,858

• 8c · Net income from fundraising events

  total -$37,858 · excluded -$37,858

• 11a · Other revenue: MISCELLANEOUS INCOME

  total $50 · excluded $50

• 11e · Other revenue, total

  $50

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $3,092,050 · program services $3,092,050

• 7 · Other salaries and wages

  total $499,752 · program services $337,736 · management and general $95,837 · fundraising $66,179

• 9 · Other employee benefits

  total $98,088 · program services $65,876 · management and general $19,304 · fundraising $12,908

• 10 · Payroll taxes

  total $35,496 · program services $23,839 · management and general $6,986 · fundraising $4,671

• 11c · Fees: accounting

  total $33,096 · management and general $33,096

• 11f · Fees: investment management

  total $477,882 · management and general $477,882

• 11g · Fees: other

  total $289,904 · program services $143,237 · management and general $60,171 · fundraising $86,496

• 12 · Advertising and promotion

  total $69,772 · program services $69,772

• 13 · Office expenses

  total $21,111 · program services $14,178 · management and general $4,155 · fundraising $2,778

• 16 · Occupancy

  total $9,036 · program services $6,069 · management and general $1,778 · fundraising $1,189

• 17 · Travel

  total $13,044 · program services $3,903 · management and general $1,144 · fundraising $7,997

• 22 · Depreciation, depletion and amortization

  total $20,265 · program services $13,610 · management and general $3,988 · fundraising $2,667

• 24a · Other expenses: PRINTING

  total $72,546 · program services $15,527 · management and general $4,272 · fundraising $52,747

• 24b · Other expenses: BAD DEBT

  total $60,024 · program services $60,024

• 24c · Other expenses: POSTAGE

  total $20,779 · program services $3,655 · management and general $1,069 · fundraising $16,055

• 24d · Other expenses: TAXES

  total $3,688 · program services $2,477 · management and general $726 · fundraising $485

• 24e · All other expenses

  total $5,656 · program services $3,799 · management and general $1,113 · fundraising $744

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,739,261 · end of year $5,323,311

• 2 · Savings and temporary cash investments

  beginning of year $5,607,638 · end of year $6,196,542

• 3 · Pledges and grants receivable

  beginning of year $125,000 · end of year $739,040

• 7 · Other notes and loans receivable

  beginning of year $42,368,142 · end of year $37,985,997

• 9 · Prepaid expenses and deferred charges

  end of year $16,275

• 11 · Investments: publicly traded securities

  beginning of year $93,300,873 · end of year $104,838,738

• 12 · Investments: other securities

  beginning of year $5,091,930 · end of year $6,055,799

• 15 · Other assets

  beginning of year $2,784,488 · end of year $3,073,624

• 17 · Accounts payable and accrued expenses

  beginning of year $37,228 · end of year $12,002

• 25 · Other liabilities

  beginning of year $1,672,867 · end of year $1,969,998

• 27 · Net assets without donor restrictions

  beginning of year $119,090,584 · end of year $126,326,022

• 28 · Net assets with donor restrictions

  beginning of year $32,216,653 · end of year $35,921,304

The filer's explanations (Part III)

PART I, LINE 4

THE MILITARY OFFICERS ASSOCIATION OF AMERICA SCHOLARSHIP FUND DOES NOT DIRECTLY COMPENSATE ANY OFFICERS, DIRECTORS, EMPLOYEES OR BOARD MEMBERS BUT RECEIVES ALL STAFF SUPPORT FROM THE MILITARY OFFICERS ASSOCIATION OF AMERICA (MOAA). SALARIES OF MOAA OFFICERS AND EMPLOYEES WHO SUPPORT THE SCHOLARSHIP FUND ARE ALLOCATED ON A PERCENTAGE OF TIME SPENT BASIS. ALL OF THE OFFICERS AND EMPLOYEES OF MOAA SUPPORT BOTH ORGANIZATIONS, AS WELL AS THE MOAA FOUNDATION. THE MILITARY OFFICERS ASSOCIATION OF AMERICA UTILIZES THE FOLLOWING WHEN ESTABLISHING THE COMPENSATION: THE CHAIRMAN OF THE BOARD APPOINTS A PRESIDENTIAL ASSESSMENT COMMITTEE TO EVALUATE THE CEO'S PERFORMANCE ALIGNED WITH OUR STRATEGIC GOALS USING DATA, INPUT FROM THE CEO, CORPORATE OFFICERS AND VICE PRESIDENTS, AND BOARD MEMBER FEEDBACK. ASSESSMENT COMMITTEE RELAYS ITS FINDINGS TO THE COMPENSATION COMMITTEE WHICH USES FORMS 990 FROM OTHER MILITARY VETERAN NON-PROFITS; AND SALARY SURVEY DATA FROM THE AMERICAN SOCIETY OF ASSOCIATION EXECUTIVES' (ASAE) ASSOCIATION AND COMPENSATION STUDY, ASSOCIATIONS TRENDS, THE COMPENSATION REPORT, AMONG OTHERS, TO DETERMINE FAIR AND REASONABLE COMPENSATION FOR THE PRESIDENT. ASAE, FOR EXAMPLE, PUBLISHES AN ANNUAL NATIONAL COMPENSATION SURVEY OF PROFESSIONAL ASSOCIATIONS THAT TAKES INTO ACCOUNT THE SCOPE AND SIZE OF THE ASSOCIATION; TYPE OF INDUSTRY; ANNUAL GROSS REVENUES AND LOCATION OF ASSOCIATION HEADQUARTERS. COMPENSATION COMMITTEE THEN MEETS AND REVIEWS ALL COMPARABILITY DATA; AND RECOMMENDS ANNUAL COMPENSATION TO THE ENTIRE BOARD WHO DELIBERATE, DOCUMENT, AND APPROVE THE PRESIDENT'S ANNUAL COMPENSATION. MINUTES OF BOTH THE COMPENSATION COMMITTEE AND CLOSED BOARD DELIBERATIONS ARE DOCUMENTED. THE PROCESS WAS LAST UNDERTAKEN IN 2023. FOR OTHER OFFICERS, VICE-PRESIDENTS AND KEY EMPLOYEES, HUMAN RESOURCES REVIEWS COMPETITIVE MARKET ANALYSIS BY AN INDEPENDENT CONSULTANT (PRM CONSULTING) WHICH DETERMINES THE APPROPRIATE PAY CORRIDOR FOR EACH POSITION. PRM MATCHES MOAA POSITION DESCRIPTIONS TO THE SAME OR SIMILAR POSITIONS COVERED IN THE MOST RELEVANT PUBLISHED PAY SURVEYS. ONCE MATCHED, MOAA IS GIVEN A COMPETITIVE CORRIDOR FOR EACH POSITION. PERFORMANCE EVALUATIONS ARE ALSO USED IN DETERMINING COMPENSATION. COMPENSATION COMMITTEE THEN MEETS AND REVIEWS COMPARABILITY DATA; AND RECOMMENDS PERCENT INCREASE TO THE PERSONNEL BUDGET LINE TO THE ENTIRE BOARD FOR DELIBERATION AND APPROVAL. MINUTES OF BOTH THE COMPENSATION COMMITTEE AND CLOSED BOARD DELIBERATIONS ARE DOCUMENTED. ONCE APPROVED, THE PRESIDENT THEN DETERMINES COMPENSATION FOR OFFICERS, VICE-PRESIDENTS AND KEY EMPLOYEES WITHIN BOARD GUIDELINES AND INTENT. THE PROCESS WAS LAST UNDERTAKEN IN 2023.