Veterans Of Foreign Wars Dept Of Minnesota 1223 Post Vfw-Mn
- Assets
- $454.8k
- Revenue
- $153.1k
- Investments
- $0.0
- Employees
- 39
- Location
- Dilworth, MN
- Founding
- 01/1985
- Data as of
- 06/2022
- EIN
- 41-0676236
Organization Overview
Veterans Of Foreign Wars Dept Of Minnesota 1223 Post Vfw-Mn is located in Dilworth, MN. The organization was established in 1985. 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. As of 06/2022, Veterans Of Foreign Wars Dept Of Minnesota 1223 Post Vfw-Mn employed 39 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Veterans Of Foreign Wars Dept Of Minnesota 1223 Post Vfw-Mn 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 06/2022, Veterans Of Foreign Wars Dept Of Minnesota 1223 Post Vfw-Mn generated $153.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (9.6%) each year. All expenses for the organization totaled $186.3k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (6.1%) per year over the past 5 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
VETERANS OR FOREIGN WARS ORGANIZATION ASSISTING VETERANS
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZATION HAS CLUB FACILITIES FOR ITS MEMBERS
ORGANIZATION HAS A POST REPRESENTING AND PROVIDING FOR VETERANS
ORGANIZATION CONDUCTS LAWFUL GAMBLING WHICH FUNDS ARE DONATED TO CHARITABLE AND NEEDY CAUSES AS REQUIRED BY THE STATE OF MINNESOTA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Curtis Cannon Service Officer | Trustee | 2 | $0 |
James Beckstrom Trustee | Trustee | 2 | $0 |
Roger Christopherson Trustee | Trustee | 0 | $0 |
Steven C Sanders Sr Vice Commander | Trustee | 2 | $0 |
Daniel Hunt Jr Vice Commander | Officer | 2 | $0 |
John Lopez Adjutant | Officer | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,838 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $42,213 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,428 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $47,479 |
| Total Program Service Revenue | $2,250 |
| 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 | $22,040 |
| Net Income from Sales of Inventory | $81,380 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $153,149 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $113,222 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,729 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,931 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $322 |
| Office expenses | $2,445 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,272 |
| Travel | $1,200 |
| 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 | $12,250 |
| Insurance | $8,187 |
| All other expenses | $11,895 |
| Total functional expenses | $186,277 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $69,502 |
| Savings and temporary cash investments | $2,000 |
| 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 | $14,243 |
| Prepaid expenses and deferred charges | $365 |
| Net Land, buildings, and equipment | $368,703 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $454,813 |
| Accounts payable and accrued expenses | $19,585 |
| 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 | $21,928 |
| Other liabilities | $0 |
| Total liabilities | $41,513 |
| Net assets without donor restrictions | $413,300 |
| 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 | $454,813 |