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Nonprofiteer
← FOLDS OF HONOR FOUNDATION

Form 990 for tax year 2022

Filed by FOLDS OF HONOR FOUNDATION.

Totals

Total revenue
$1,939,387
Total expenses
$1,804,068
Contributions and grants received
$2,353,092
Grants paid
$1,500,000
Program service revenue
$0
Investment income
$70,246
Other revenue
-$483,951
Total assets, end of year
$1,186,272
Total liabilities, end of year
$18,600
Net assets or fund balances, end of year
$1,167,672
Program services expenses (Part IX)
$1,647,559
Management and general expenses
$150,196
Fundraising expenses
$6,313
Program service expenses (Part III)
$1,647,559

Program services were 91.3% 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

    $1,316,965

  • 1f · All other contributions, gifts and grants

    $1,036,127

  • 1g · Noncash contributions included above

    $5,647

  • 3 · Investment income

    total $22,817 · excluded $22,817

  • 7a · Gross sales of assets other than inventory

    securities $580,679

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

    securities $533,250

  • 7c · Gain or loss

    securities $47,429

  • 7d · Net gain or loss

    total $47,429 · excluded $47,429

  • 8a · Fundraising events: gross income

    $130,599

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

    $1,316,965

  • 8b · Fundraising events: direct expenses

    $614,550

  • 8c · Net income from fundraising events

    total -$483,951 · excluded -$483,951

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,500,000 · program services $1,500,000

  • 7 · Other salaries and wages

    total $22,780 · program services $22,780

  • 11b · Fees: legal

    total $862 · management and general $862

  • 11c · Fees: accounting

    total $33,570 · management and general $33,570

  • 11g · Fees: other

    total $88,906 · management and general $88,906

  • 12 · Advertising and promotion

    total $6,313 · fundraising $6,313

  • 13 · Office expenses

    total $25,444 · program services $131 · management and general $25,313

  • 16 · Occupancy

    total $3,788 · program services $3,788

  • 17 · Travel

    total $5,136 · program services $5,136

  • 19 · Conferences, conventions and meetings

    total $4,344 · program services $4,344

  • 23 · Insurance

    total $6,040 · program services $4,495 · management and general $1,545

  • 24a · Other expenses: EVENT EXPENSE

    total $106,885 · program services $106,885

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $641,110 · end of year $339,533

  • 2 · Savings and temporary cash investments

    beginning of year $50,636 · end of year $49,052

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,483 · end of year $2,331

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

    $3,129

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

    $3,129

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $534,590 · end of year $795,356

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,920 · end of year $18,600

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,226,899 · end of year $1,167,672

Mission and programs · 2022

Mission

THE FOLDS OF HONOR FOUNDATION IS RALLYING A NATION TO ENSURE NO FAMILY IS LEFT BEHIND IN THE FIGHT TO PRESERVE AMERICAN FREEDOM. THROUGH SCHOLARSHIPS AND OTHER ASSISTANCE, WE GIVE BACK TO THE SPOUSES AND CHILDREN OF SOLDIERS KILLED OR DISABLED IN SERVICE TO OUR COUNTRY. WE PROVIDE HEALING, HOPE AND AN OPPORTUNITY FOR DREAMS TO BE REALIZED WITH THE SUPPORT OF PEOPLE LIKE YOU. WE FEEL THIS IS OUR DUTY AS CITIZENS OF THE GREATEST COUNTRY IN THE WORLD.

Activities or mission (Part I)

RAISE FUNDS FOR FOLDS OF HONOR FOUNDATION TO ASSIST FAMILIES OF FALLEN & DISABLED SERVICE MEMBERS.

  • THE FOLDS OF HONOR FOUNDATION IS RALLYING A NATION TO ENSURE NO FAMILY IS LEFT BEHIND IN THE FIGHT TO PRESERVE AMERICAN FREEDOM. THROUGH SCHOLARSHIPS AND OTHER ASSISTANCE, WE GIVE BACK TO THE SPOUSES AND CHILDREN OF SOLDIERS KILLED OR DISABLED IN SERVICE TO OUR COUNTRY. WE PROVIDE HEALING, HOPE AND AN OPPORTUNITY FOR DREAMS TO BE REALIZED WITH THE SUPPORT OF PEOPLE LIKE YOU. WE FEEL THIS IS OUR DUTY AS CITIZENS OF THE GREATEST COUNTRY IN THE WORLD.

    Expenses $1,647,559 · Grants $1,500,000

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • PERRY SCHMIDT

    PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • ANNE SCHMIDT

    SECRETARY

    Total calculated
    $0
    Hours/week
    4

  • ROBERT CRON

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • ROB HOLT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHRIS SCHWARTZBAUER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOHN POHLAD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOHN RUSSETT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MATT FRAUENSHUH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PAUL TAUNTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PETER BURWELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • STEVE ANDERSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • NEIL LOIDOLT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOHN RUSSET

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JAY TIBBETS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
24 October 2023
IRS schema version
2022v5.0
Source object
202332999349301253

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