American Legion 562
- Assets
- $140.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Cumming, IA
- Founding
- 03/1946
- Data as of
- 12/2023
- EIN
- 42-6127824
Organization Overview
American Legion 562 is located in Cumming, IA. The organization was established in 1946. 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. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. American Legion 562 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 12/2023, American Legion 562 generated $55.0k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $56.0k during the year ending 12/2023. While expenses have increased by 7.3% per year over the past 8 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Francis Doll Director | 5 | $0 | |
Richard Harkin Director | 5 | $0 | |
Paul King Director | 5 | $0 | |
Dean C Yordi Treasurer | 15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,384 |
| Total Program Service Revenue | $0 |
| Membership dues | $4,881 |
| Investment income | $129 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $28,600 |
| Total Revenue | $54,994 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $250 |
| Occupancy, rent, utilities, and maintenance | $24,012 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $31,720 |
| Total expenses | $55,982 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $55,702 |
| Other assets | $0 |
| Total assets | $140,410 |
| Total liabilities | $0 |
| Net assets or fund balances | $140,410 |