Honor Bound Foundation Inc
- Assets
- $532.2k
- Revenue
- $160.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Darien, CT
- Founding
- 11/1981
- Data as of
- 06/2023
- EIN
- 13-3102064
Organization Overview
Honor Bound Foundation Inc is located in Darien, CT. The organization was established in 1981. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 06/2023, Honor Bound Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Honor Bound Foundation 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 06/2023, Honor Bound Foundation Inc generated $160.5k 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 (44.2%) each year. All expenses for the organization totaled $480.5k during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SERVING OUR COUNTRY REQUIRES UNPARALLELED COURAGE AND COMMITMENT, AND VETERANS NATIONWIDE HAVE MADE SACRIFICES TO PROTECT OUR COUNTRY AND OUR FREEDOMS. BUT THE UNFORTUNATE TRUTH IS THAT MANY VETERANS STRUGGLE TO FIND STABILITY WHILE ADJUSTING TO EVERYDAY LIFE AFTER SERVICE. HONOR BOUND'S MISSION REFLECTS OUR COMMITMENT TO PROVIDING TIMELY AID TO VETERANS ACROSS THE COUNTRY. OUR NATIONWIDE PARTNERSHIPS WITH CASE WORKERS, SOCIAL WORKERS FROM THE VA, AND OTHER VETERAN ORGANIZATIONS INCREASE OUR REACH AND IMPACT WHERE IT'S NEEDED MOST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HONOR BOUND FOUNDATION PROVIDES URGENT ONE-TIME FINANCIAL ASSISTANCE TO VETERANS AND VETERAN FAMILIES IN CRISIS. WHILE OTHER VETERAN SERVICE ORGANIZATIONS MAY REQUIRE EXTENSIVE DOCUMENTATION AND EXCLUSIVE CRITERIA, HONOR BOUND HAS A SIMPLE APPLICATION PROCESS DESIGNED TO MAXIMIZE THE REACH OF OUR AID. THE VA, FOR EXAMPLE, CAN TAKE UP TO TEN MONTHS ON AVERAGE- AND OFTEN OVER A YEAR- TO PROVIDE VETERANS THE BENEFITS DUE TO THEM AFTER SEPARATING FROM SERVICE. HONOR BOUND STANDS BY ITS PROMISE TO RESPOND QUICKLY AND EFFICIENTLY TO HELP VETERANS AND VETERAN FAMILIES IN CRISIS, OFTEN PROVIDING DIRECT PAYMENTS TO CREDITORS/VENDORS WITHIN 24-48 HOURS, ELIMINATING THE STRESS ON THE VETERAN AND THEIR FAMILY. MANY VETERAN SERVICE ORGANIZATIONS HAVE SPECIFIC CRITERIA FOR ASSISTANCE, FOCUSING ON A PARTICULAR CATEGORY SUCH AS POST 9-11 VETERANS OR VETERANS WITH PHYSICAL DISABILITIES. UNFORTUNATELY, MANY EVERYDAY HARD-WORKING VETERANS DO NOT FIT THIS CRITERIA. HONOR BOUND EXTENDS AID TO ALL VETERANS STRUGGLING WITH A WIDE RANGE OF ISSUES. IN FY2023 ALONE, WE HELPED OVER 400 VETERANS WITH A VARIETY OF ESSENTIAL NEEDS, INCLUDING SECURITY DEPOSITS, UTILITIES, CAR REPAIRS, FOOD, MEDICAL EXPENSES, EDUCATION EXPENSES, AND MORE. IN ADDITION TO PERSONALLY ASSISTING THOUSANDS OF VETERANS AND VETERAN FAMILIES, HONOR BOUND ALSO PROVIDES GRANTS TO ORGANIZATIONS THAT EMBODY OUR MISSION AND EXTEND OUR AID ACROSS THE COUNTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pamela Kushner President | OfficerTrustee | 40 | $99,863 |
Ron Rubano Treasurer | OfficerTrustee | 1 | $0 |
Juliet Taylor Secretary | OfficerTrustee | 1 | $0 |
Mark Lutian Board Member, Thru May 2023 | OfficerTrustee | 1 | $0 |
Peter Maro Board Member, Thru May 2023 | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Direct Response Consulting Svcs Fundraising Counsel | 6/29/16 | $261,406 |
Automotive Recovery Services Inc Vehicle Donation Program | 6/29/16 | $5,154,430 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $89,255 |
| Noncash contributions included in lines 1a–1f | $68,175 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $89,255 |
| Total Program Service Revenue | $0 |
| Investment income | $20,482 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $49,924 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $160,508 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $162,077 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $102,645 |
| Compensation of current officers, directors, key employees. | $41,057 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $57,000 |
| Pension plan accruals and contributions | $1,710 |
| Other employee benefits | $3,024 |
| Payroll taxes | $12,722 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,870 |
| Fees for services: Accounting | $8,409 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $14,037 |
| Fees for services: Investment Management | $6,407 |
| Fees for services: Other | $4,204 |
| Advertising and promotion | $36,006 |
| Office expenses | $52,652 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,251 |
| Travel | $73 |
| 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 | $6,410 |
| All other expenses | $3,970 |
| Total functional expenses | $480,467 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,167 |
| Savings and temporary cash investments | $94,434 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $863 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $415,687 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $532,151 |
| Accounts payable and accrued expenses | $13,027 |
| 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 | $0 |
| Total liabilities | $13,027 |
| Net assets without donor restrictions | $519,124 |
| 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 | $532,151 |
Grants Awarded
Over the last fiscal year, Honor Bound Foundation Inc has awarded $150,263 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
BIRTH DEFECT RESEARCH FOR CHILDREN PURPOSE: THE GRANT IS USED TO CONTINUE WITH HBF PROJECTS TO BENEFIT VIETNAM, GULF WAR, OIF AND OEF VETERAN FAMILIES | $30,000 |
HOMES FOR THE BRAVE PURPOSE: THE GRANT IS USED TO CONTINUE WITH HBF PROJECTS TO BENEFIT VIETNAM, GULF WAR, OIF AND OEF VETERAN FAMILIES | $40,000 |
VETERANS OF FOREIGN WARS FOUNDATION PURPOSE: THE GRANT IS USED TO CONTINUE WITH HBF PROJECTS TO BENEFIT VIETNAM, GULF WAR, OIF AND OEF VETERAN FAMILIES | $55,263 |
GUARDIAN ANGELS MEDICAL SERVICE DOGS PURPOSE: THE GRANT IS USED TO CONTINUE WITH HBF PROJECTS TO BENEFIT VIETNAM, GULF WAR, OIF AND OEF VETERAN FAMILIES | $25,000 |