Veterans Of Foreign Wars Dept Of Minnesota
- Assets
- $121.1k
- Revenue
- $160.7k
- Investments
- $0.0
- Employees
- 11
- Location
- Princeton, MN
- Founding
- 12/1949
- Data as of
- 06/2022
- EIN
- 41-1369063
Organization Overview
Veterans Of Foreign Wars Dept Of Minnesota is located in Princeton, MN. The organization was established in 1949. According to its NTEE Classification (W30) the organization is classified as: Military & Veterans Organizations, under the broad grouping of Public & Societal Benefit and related organizations. As of 06/2022, Veterans Of Foreign Wars Dept Of Minnesota employed 11 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Veterans Of Foreign Wars Dept Of Minnesota is a 501(c)(19) and as such, is described as a "Post or Organization of Past or Present Members of the Armed Forces" by the IRS.
For the year ending 06/2022, Veterans Of Foreign Wars Dept Of Minnesota generated $160.7k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 9.2% each year. All expenses for the organization totaled $195.3k during the year ending 06/2022. While expenses have increased by 12.0% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FRATERNAL, PATRIOTIC, HISTORICAL, STRENGTHEN COMRADESHIP AMONG ITS MEMBERS, TO ASSIST WORTHY COMRADES TO PERPETUATE THE MEMORY & HISTORY OF OUR DEAD & TO ASSIST THEIR FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES A COMMON MEETING AREA FOR ALL VETERANS OF FOREIGN WARS AND PROVIDES A FACILITY FOR VARIOUS OTHER NON-PROFIT ORGANIZATIONS TO UTILIZE FOR MEETINGS AND VARIOUS ACTIVITIES.
THE ORGANIZATION PROVIDES A COMMON MEETING AREA FOR ALL VETERANS OF FOREIGN WARS AND PROVIDES A FACILITY FOR VARIOUS OTHER NON-PROFIT ORGANIZATIONS TO UTILIZE FOR MEETINGS AND VARIOUS ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stirling L Boyle Service Offi | Officer | 1 | $0 |
David C Good Commander | Officer | 3 | $0 |
Caleb T Oberg Sr Vice Comm | Officer | 1 | $0 |
Katherine A Oberg Quartermaste | Officer | 3 | $0 |
James M Pagel Jr Vice Comm | Officer | 1 | $0 |
Charles F Phillips 2 Year Trust | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $605 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $19,874 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,479 |
| Total Program Service Revenue | $46,894 |
| Investment income | $15 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,926 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $95,232 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $160,694 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,290 |
| Grants and other assistance to domestic individuals. | $950 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $83,812 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,077 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,655 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $710 |
| Office expenses | $876 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,795 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $16 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,137 |
| Insurance | $12,535 |
| All other expenses | $19,847 |
| Total functional expenses | $195,321 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,284 |
| Savings and temporary cash investments | $162 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,582 |
| Prepaid expenses and deferred charges | $23,285 |
| Net Land, buildings, and equipment | $68,803 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $121,116 |
| Accounts payable and accrued expenses | $3,158 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,500 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,658 |
| Net assets without donor restrictions | $115,458 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $121,116 |