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← FOLDS OF HONOR FOUNDATION

Form 990 for tax year 2024

Filed by FOLDS OF HONOR FOUNDATION.

Totals

Total revenue
$1,586,844
Total expenses
$1,695,473
Contributions and grants received
$1,256,905
Grants paid
$1,441,156
Program service revenue
$0
Investment income
$15,123
Other revenue
$314,816
Total assets, end of year
$1,690,448
Total liabilities, end of year
$1,464,092
Net assets or fund balances, end of year
$226,356
Program services expenses (Part IX)
$1,614,990
Management and general expenses
$80,483
Fundraising expenses
$0
Program service expenses (Part III)
$1,614,990

Program services were 95.3% 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.

  • 1f · All other contributions, gifts and grants

    $1,256,905

  • 3 · Investment income

    total $15,123 · related or exempt $15,123

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $872,818

  • 8b · Fundraising events: direct expenses

    $589,570

  • 8c · Net income from fundraising events

    total $283,248

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $51,714

  • 10b · Cost of goods sold

    $20,146

  • 10c · Net income from sales of inventory

    total $31,568 · related or exempt $31,568

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,441,156 · program services $1,441,156

  • 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 $173,834 · program services $173,834

  • 11b · Fees: legal

    total $56,451 · management and general $56,451

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $3,610 · management and general $3,610

  • 12 · Advertising and promotion

    total $13,385 · management and general $13,385

  • 13 · Office expenses

    total $3,805 · management and general $3,805

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $600 · management and general $600

  • 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 $2,632 · management and general $2,632

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $278,676 · end of year $1,601,375

  • 2 · Savings and temporary cash investments

    end of year $5,584

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $69,100 · end of year $71,000

  • 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 $5,359 · end of year $7,500

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 11 · Investments: publicly traded securities

    end of year $4,989

  • 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

    end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $18,150 · end of year $13,092

  • 18 · Grants payable

    end of year $1,450,000

  • 19 · Deferred revenue

    end of year $1,000

  • 27 · Net assets without donor restrictions

    beginning of year $334,985 · end of year $226,356

Mission and programs · 2024

Mission

To fund educational scholarships for the dependents of fallen and disabled active duty military service members and first responders

Activities or mission (Part I)

To raise funds for the Folds of Honor Foundations which provides financial assistance for education to spouses and children of Americas fallen and disabled service members and first responders.

  • Folds of Honor Tennessee Chapter, provides the national organization with grant funds that provide recipients with higher education scholarships and children's fund scholarships for spouses and dependents of service members or first responders who were killed in action, killed in the line of duty or suffered the loss of a limb; died of any cause while on active duty or after being classified as having a service connected disability. Scholarships are used to subsidize the cost of tuition, school books, fees on campus room and board, approved educational tutoring, and other approved educational expenses.

    Expenses $1,614,990

As filed on the 2024 return.

Listed in Part VII

  • Lisa Norris

    Vice President

    Total calculated
    $0
    Hours/week
    1
  • Robbie Goldsmith

    President

    Total calculated
    $0
    Hours/week
    1
  • Enzo Devincenzo

    Director

    Total calculated
    $0
    Hours/week
    1
  • Matt Frauenshuh

    President

    Total calculated
    $0
    Hours/week
    1
  • Scott Bailey

    Director

    Total calculated
    $0
    Hours/week
    1
  • Casey Conway

    Director

    Total calculated
    $0
    Hours/week
    1
  • Patrick Sullivan

    Director

    Total calculated
    $0
    Hours/week
    1
  • Eric Yonkus

    Secretary

    Total calculated
    $0
    Hours/week
    1
  • Tripp Osteen

    Treasurer

    Total calculated
    $0
    Hours/week
    1
  • Matt Fedyk

    Director

    Total calculated
    $0
    Hours/week
    1
  • Ian Musselman

    Director

    Total calculated
    $0
    Hours/week
    1
  • Colin Yankee

    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

Provenance

Return type
form_990
Tax year
2024
Filed
15 May 2025
IRS schema version
2024v5.1
Source object
202531359349305473

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