Veterans Of Foreign Wars Dept Of Minnesota
- Assets
- $1.1m
- Revenue
- $459.7k
- Investments
- $0.0
- Employees
- 47
- Location
- Hutchinson, MN
- Founding
- 08/1962
- Data as of
- 12/2022
- EIN
- 41-6037265
Organization Overview
Veterans Of Foreign Wars Dept Of Minnesota is located in Hutchinson, MN. The organization was established in 1962. 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 12/2022, Veterans Of Foreign Wars Dept Of Minnesota employed 47 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Veterans Of Foreign Wars Dept Of Minnesota 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, Veterans Of Foreign Wars Dept Of Minnesota generated $459.7k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $475.5k during the year ending 12/2022. While expenses have increased by 7.2% per year over the past 8 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.
Since 2020, Veterans Of Foreign Wars Dept Of Minnesota has awarded 14 individual grants totaling $328,052. 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
TO SUPPORT AND HONOR VETERANS WHO HAVE SERVED ON FOREIGN SOIL. TO PROVIDE A PLACE FOR VETERANS TO MEET AND SOCIALIZE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED A VARIETY OF VETERANS SERVICES INCLUDING SOCIAL ACTIVITIES, VETERANS ASSISTANCE AND GUIDANCE. SERVED OVER 243 MEMBERS. $20,489 INCLUDED IN LAWFUL GAMBLING EXPENSES-DONATIONS. $526,753 OF VETERAN MEMBER EXPENSE INCLUDED IN LAWFUL GAMBLING EXPENSES.
PROVIDED FUNDS FOR VARIOUS YOUTH ACTIVITIES INCLUDING ATHLETICS AND ACADEMICS. $25,626 INCLUDED IN LAWFUL GAMBLING EXPENSES.
PROVIDED FUNDS FOR COMMUNITY SERVICES INCLUDING ELDERLY ASSISTANCE AND SOCIAL NEEDS. $2,000 INCLUDED IN LAWFUL GAMBLING EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Colby Mickolicek Commander | OfficerTrustee | 4 | $0 |
Mike Berry Sr Vice Commander | OfficerTrustee | 2 | $0 |
Mel Lockwood Jr Vice Commander | OfficerTrustee | 2 | $0 |
Pete Stoltenow Quartermaster | OfficerTrustee | 8 | $10,450 |
Duane Pischke Asst Quartermaster | OfficerTrustee | 12 | $4,950 |
Doug Johnson 11700 In Gamb Wages Gambling Manager | Trustee | 15 | $0 |
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 | $5,473 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,473 |
| Total Program Service Revenue | $5,843 |
| Investment income | $7,560 |
| 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 | $30,670 |
| Net Income from Sales of Inventory | $410,121 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $459,667 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $178,700 |
| 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. | $15,400 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $260,822 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $27,962 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,239 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,543 |
| Office expenses | $16,028 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,686 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $27 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,706 |
| Insurance | $10,644 |
| All other expenses | -$176,503 |
| Total functional expenses | $475,494 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $148,943 |
| Savings and temporary cash investments | $509,719 |
| 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 | $4,453 |
| Prepaid expenses and deferred charges | $16,947 |
| Net Land, buildings, and equipment | $402,617 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $45,776 |
| Total assets | $1,128,455 |
| Accounts payable and accrued expenses | $18,032 |
| 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 | $18,032 |
| 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 | $1,110,423 |
| Total liabilities and net assets/fund balances | $1,128,455 |
Grants Awarded
Over the last fiscal year, Veterans Of Foreign Wars Dept Of Minnesota has awarded $168,700 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
MN VETERANS HOMES PURPOSE: DONATIONS FOR VETERAN NURSING HOMES. | $80,000 |
VA HOSPITAL SIOUX FALLS PURPOSE: DONATIONS FOR VETS. | $10,000 |
MCLEOD EMERGENCY FOOD SHELF PURPOSE: ASSIST COUNTY RESIDENTS WITH FOOD INSECURTIY. | $14,000 |
ST CLOUD VA HEALTH CARE SYSTEM PURPOSE: DONATIONS FOR VETERANS MEDICAL CARE. | $10,000 |
CITY OF HUTCHINSON PURPOSE: DONATIONS TO CITY. | $24,700 |
HUTCHINSON HIGH SCHOOL- YOUTH LACROSSE PURPOSE: TO SUPPORT YOUTH LACROSSE TEAMS. | $10,000 |