Heroes Inc
- Assets
- $26.9m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 3
- Location
- Washington, DC
- Founding
- 01/1965
- Data as of
- 12/2021
- EIN
- 52-6057916
Organization Overview
Heroes Inc is located in Washington, DC. The organization was established in 1965. According to its NTEE Classification (I12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Crime & Legal-Related and related organizations. As of 12/2021, Heroes Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heroes Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Heroes Inc generated $2.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.3%) each year. All expenses for the organization totaled $1.6m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ASSISTING OFFICERS' FAMILIES WITHIN 24 HOURS OF THE TRAGIC LOSS & CONTINUING INDEFINITELY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WIDOWS & FAMILY BENEFITS PROGRAM: UNDER THE WIDOWS & FAMILY BENEFIT PROGRAM, HEROES PROVIDES FINANCIAL ASSISTANCE TO THE IMMEDIATE FAMILY MEMBERS OF A DECEASED LAW ENFORCEMENT OFFICER AND FIREFIGHTERS IN THE GREATER WASHINGTON AREA.
SCHOLARSHIP PROGRAM: UNDER THE SCHOLARSHIP PROGRAM, HEROES PROVIDES COLLEGE SCHOLARSHIPS TO THE CHILDREN OF DECEASED LAW ENFORCEMENT OFFICERS AND FIREFIGHTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John R Nichols President | OfficerTrustee | 40 | $292,610 |
Michele Hagans Secretary | OfficerTrustee | 2 | $0 |
Michael Farr Chairman | OfficerTrustee | 3 | $0 |
Cherrie Doggett Chairman Emeritus | OfficerTrustee | 3 | $0 |
Kevin Virostek Treasurer & VP | OfficerTrustee | 3 | $0 |
David Julyan Legal Counsel | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $27,024 |
| Membership dues | $32,000 |
| Fundraising events | $274,722 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $858,243 |
| Noncash contributions included in lines 1a–1f | $10,648 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,191,989 |
| Total Program Service Revenue | $0 |
| Investment income | $339,082 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $52,000 |
| Net Gain/Loss on Asset Sales | $486,947 |
| Net Income from Fundraising Events | -$91,605 |
| Net Income from Gaming Activities | $26,128 |
| Net Income from Sales of Inventory | -$924 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,003,617 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $723,352 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $303,014 |
| Compensation of current officers, directors, key employees. | $45,453 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $78,248 |
| Pension plan accruals and contributions | $207 |
| Other employee benefits | $0 |
| Payroll taxes | $21,806 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,181 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $79,334 |
| Fees for services: Other | $3,357 |
| Advertising and promotion | $0 |
| Office expenses | $49,977 |
| Information technology | $35,870 |
| Royalties | $0 |
| Occupancy | $211,114 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,828 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,967 |
| Insurance | $22,806 |
| All other expenses | $0 |
| Total functional expenses | $1,621,914 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $532,101 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $111,491 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $500 |
| Net Land, buildings, and equipment | $23,863 |
| Investments—publicly traded securities | $26,218,736 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $26,886,691 |
| Accounts payable and accrued expenses | $12,398 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $59,916 |
| Total liabilities | $72,314 |
| Net assets without donor restrictions | $26,702,886 |
| Net assets with donor restrictions | $111,491 |
| 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 | $26,886,691 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Heroes Inc has recieved totaling $216,918.
| Awarding Organization | Amount |
|---|---|
Andreas Family Foundation Dulles, VA PURPOSE: UNRESTRICTED | $100,000 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $34,000 |
Kapani Family Charitable Foundation Naples, FL PURPOSE: GENERAL OPERATING SUPPORT | $20,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $15,200 |
United Way Of The National Capital Area Vienna, VA PURPOSE: DESIGNATED AND/OR GRANTED IN SUPPORT OF AGENCY PROGRAMS | $13,586 |
Healy Foundation Wilmington, DE PURPOSE: GENERAL SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The District Of Columbia Bar Foundation Washington, DC | $3,658,871 | $13,481,858 |
Westminster Ingleside King Farm Presbyterian Retirement Communitie Rockville, MD | $1,817,966 | $10,825,775 |
Heroes Inc Washington, DC | $26,886,691 | $2,003,617 |
National Center For Police Defense Inc Fairfax, VA | $156,728 | $1,250,517 |
Baltimore Bar Foundation Inc Baltimore, MD | $480,206 | $416,293 |
Greater Richmond Bar Foundation Richmond, VA | $304,120 | $287,963 |
Baltimore County Police Foundation Inc Baltimore, MD | $578,289 | $126,816 |
Chesterfield County Police Foundation Inc Chesterfield, VA | $822,935 | $159,372 |
Virginia Beach Bar Foundation Virginia Beach, VA | $52,346 | $0 |