Veterans Life Center
- Assets
- $2.1m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 20
- Location
- Raleigh, NC
- Founding
- 06/2010
- Data as of
- 12/2023
- EIN
- 27-1696736
Organization Overview
Veterans Life Center is located in Raleigh, NC. The organization was established in 2010. According to its NTEE Classification (L40) the organization is classified as: Temporary Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Veterans Life Center employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Veterans Life Center 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 12/2023, Veterans Life Center generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 40.0% each year . All expenses for the organization totaled $2.4m during the year ending 12/2023. While expenses have increased by 43.2% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE LIVES OF 21ST CENTURY NORTH CAROLINA VETERANS WHO ARE EXPERIENCING REINTEGRATION PROBLEMS BY PROVIDING TEMPORARY HOUSING AND SEVICES WITH THE GOAL OF ACHEIVING SELF-RELIANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COORDINATED CARE PROGRAM - IN 2023 THE VETERANS LIFE CENTER SERVED OVER 190 VETERANS. SERVED OVER 40,000 WARM MEALS TO 21ST CENTURY VETERANS. WORKED WITH THEM TO INCREASE LIFE SKILLS, FINANCIAL LITERACY AND GOAL SETTING. WE TRANSPORTED VETERANS OVER 45,000 MILES. ASSISTED THEM IN SCHEDULING AND ATTENDING MENTAL, BEHAVIORAL AND PHYSICAL HEALTH CARE APPOINTMENTS. SUPPORTED VETERANS WITH TECHNOLOGICAL CAPABILITIES TO SUPPORT OVER 300 TELEHEALTH CALLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kirk Warner Chairman | OfficerTrustee | 5 | $0 |
Mike Mitchell Vice Chairman | OfficerTrustee | 5 | $0 |
David Hayden Secretary | OfficerTrustee | 5 | $0 |
Chris Judy Treasurer | OfficerTrustee | 5 | $0 |
Marilyn Avila Director | Trustee | 5 | $0 |
G Russell Laing Director | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Butner Food Services Food Services | 12/30/23 | $477,985 |
Tncg Security Services Llc Security Services | 12/30/23 | $251,286 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $212,331 |
| Related organizations | $0 |
| Government grants | $1,842,671 |
| All other contributions, gifts, grants, and similar amounts not included above | $438,889 |
| Noncash contributions included in lines 1a–1f | $10,153 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,493,891 |
| Total Program Service Revenue | $0 |
| Investment income | $3,854 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$16,649 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,481,096 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $110,235 |
| Compensation of current officers, directors, key employees. | $47,401 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $543,379 |
| Pension plan accruals and contributions | $6,423 |
| Other employee benefits | $77,147 |
| Payroll taxes | $50,136 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $60,000 |
| Fees for services: Accounting | $29,771 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $50,063 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $41,081 |
| Advertising and promotion | $60,244 |
| Office expenses | $36,364 |
| Information technology | $26,418 |
| Royalties | $0 |
| Occupancy | $450,164 |
| Travel | $20,996 |
| 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 | $125,337 |
| Insurance | $44,315 |
| All other expenses | $8,920 |
| Total functional expenses | $2,364,392 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $879,301 |
| Savings and temporary cash investments | $106,173 |
| Pledges and grants receivable | $169,037 |
| Accounts receivable, net | $2,824 |
| 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 | $31,742 |
| Net Land, buildings, and equipment | $900,478 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,843 |
| Total assets | $2,095,398 |
| Accounts payable and accrued expenses | $61,217 |
| 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 | $61,217 |
| Net assets without donor restrictions | $1,756,126 |
| Net assets with donor restrictions | $278,055 |
| 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 | $2,095,398 |