American Vets Group Foundation Inc
- Assets
- -$70.6k
- Revenue
- $315.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Melville, NY
- Founding
- 11/2019
- Data as of
- 12/2022
- EIN
- 82-4574425
Organization Overview
American Vets Group Foundation Inc is located in Melville, NY. The organization was established in 2019. 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 an independent organization and not affiliated with a larger national or regional group of organizations. American Vets Group Foundation Inc 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 12/2022, American Vets Group Foundation Inc generated $315.7k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 50.7% each year . All expenses for the organization totaled $390.4k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, American Vets Group Foundation Inc has awarded 26 individual grants totaling $503,950. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTS VETERANS AND ORGANIZATIONS THAT SUPPORT VETERANS. THE FOUNDATION DIRECTS SUPPORT OPPORTUNITIES TO SPECIFIC COMMUNITY NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION RECEIVES DISTRIBUTIONS FROM THE EQUITY IN AMERICAN VETERANS GROUP, PBC. THE 25% EQUITY WAS GIFTED TO THE FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wade Franklin President | Trustee | 10 | $0 |
William Frazier Member | Trustee | 1 | $0 |
Stuart Berelson Member | Trustee | 1 | $0 |
Richard Laraway Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $315,650 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $315,650 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $315,650 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $287,150 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $705 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $10,000 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $390,355 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,319 |
| Savings and temporary cash investments | $0 |
| 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 | -$92,900 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | -$70,581 |
| Accounts payable and accrued expenses | $0 |
| 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 | $90 |
| Total liabilities | $90 |
| Net assets without donor restrictions | $0 |
| 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 | -$70,671 |
| Total liabilities and net assets/fund balances | -$70,581 |
Grants Awarded
Over the last fiscal year, American Vets Group Foundation Inc has awarded $263,650 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
US CHAMBER OF COMMERCE FOUNDATION HIRING OUR HEROES PURPOSE: HELP VETERANS AND MILITARY SPOUSES FIND EMPLOYMENT THROUGH INTERSHIP PROGRAMS | $38,000 |
WARRIOR RISING PURPOSE: HELP VETERAN ENTREPRENEURS WITH TRAINING AND MENTORSHIP TO DEVELOP BUSINESS IDEAS AND START BUSINESSES | $6,500 |
COHENS VETERANS NETWORK PURPOSE: SUPPORT CLINICAL FELLOW PROGRAM TO TRAIN THERAPIST TO HELP VETERANS WITH MENTAL HEALTH NEEDS | $60,000 |
THE WORKPLACE PURPOSE: HELP VETERANS THROUGHOUT CONNECTICUT TO FIND MEANINGFUL EMPLOYMENT | $6,500 |
WARRIORS 4 WIRELESS PURPOSE: DONATION TO SUPPORT PROGRAM THAT CONNECTS VETERANS WITH WIRELESS COMMUNICATION EMPLOYMENT | $6,000 |
BUNKER LABS PURPOSE: HELP VETERAN OWNED COMPANIES GROW THEIR BUSINESS THROUGH TRAINING AND NETWORKING | $30,000 |