Third Option Foundation
- Assets
- $24.9m
- Revenue
- $12.3m
- Investments
- $5.8m
- Employees
- 6
- Location
- Reston, VA
- Founding
- 08/2014
- Data as of
- 12/2021
- EIN
- 46-4884866
Organization Overview
Third Option Foundation is located in Reston, VA. The organization was established in 2014. According to its NTEE Classification (P99) the organization is classified as: Human Services N.E.C., under the broad grouping of Human Services and related organizations. As of 12/2021, Third Option Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Third Option Foundation 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 12/2021, Third Option Foundation generated $12.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 45.0% each year . All expenses for the organization totaled $4.5m during the year ending 12/2021. While expenses have increased by 52.0% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORT TO THE FAMILIES OF GOVERNMENT EMPLOYEES WHO HAVE DIED OR BEEN SERIOUSLY INJURED IN THE SERVICE OF THEIR COUNTRY BUT WHOSE EMPLOYMENT STATUS PROHIBITS THEM FROM SEEKING ASSISTANCE FROM NORMAL GOVERNMENTAL SOURCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL PROGRAM: PROVIDE SUPPORT FOR PHYSICAL AND COGNITIVE HEALTH ASSESSMENT AND TREATMENT FOR OFFICERS AND THEIR FAMILIES, AS WELL AS FAMILY RESILIENCY RETREATS FOR FAMILIES OF DEPLOYING OFFICERS AND SURVIVORS OF FALLEN OFFICERS.
FAMILY RESILIENCY & BEHAVORIAL HEALTH: PROVIDE ASSISTANCE TO SPOUSES, CHILDREN, PARENTS, AND SIBLINGS OF FALLEN OFFICERS, WITH IMMEDIATE FINANCIAL AND LOGISTICAL SUPPORT AND SUBSEQUENTLY FOR FUNERALS AND MEMORIAL SERVICES. PROVIDE ASSISTANCE TO FAMILIES OF INJURED OFFICERS WITH FINANCIAL AND LOGISTICAL SUPPORT DURING HOSPITALIZATION AND REHABILITATION. SUPPORT FAMILIES OF FALLEN OFFICERS BY ORGANIZING ANNUAL MEMORIAL EVENTS. PROVIDE ACCESS TO SUPPLEMENTAL CHILDCARE TO SUPPORT THE FAMILIES OF DEPLOYED OFFICERS.
SURVIVORSHIP: PROVIDE IMMEDIATE FINANCIAL AND LOGISTICAL SUPPORT DURING THE REPATRIATION OF A FALLEN OPERATOR, ANNUAL CAMPS AND SUPPORT FOR SURVIVING CHILDREN, ACADEMIC SUPPORT AND COLLEGE PREPARATION SERVICE FOR CHILDREN, EMERGENCY HOME MAINTENANCE AND HOME SUPPORT, AND GRIEF AND FINANCIAL COUNSELING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven T Cashen CEO | Officer | 40 | $200,808 |
Melissa Allen COO | Officer | 40 | $158,000 |
Barbara Leven Treasurer & Secretary | OfficerTrustee | 10 | $0 |
John Phelan Chairman/director | OfficerTrustee | 4 | $0 |
R Scott Spellmeyer Vice-Chairman/director | OfficerTrustee | 4 | $0 |
Stephanie Usry Bellostri Director | OfficerTrustee | 2 | $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 | $12,195,928 |
| Noncash contributions included in lines 1a–1f | $61,823 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,195,928 |
| Total Program Service Revenue | $0 |
| Investment income | $98,200 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,143 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,300,421 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $666,578 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $358,808 |
| Compensation of current officers, directors, key employees. | $225,987 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $283,866 |
| Pension plan accruals and contributions | $36,500 |
| Other employee benefits | $80,912 |
| Payroll taxes | $87,282 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $177,671 |
| Advertising and promotion | $0 |
| Office expenses | $37,192 |
| Information technology | $33,958 |
| Royalties | $0 |
| Occupancy | $55,244 |
| Travel | $497,683 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,745 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,438 |
| Insurance | $3,443 |
| All other expenses | $57,202 |
| Total functional expenses | $4,528,197 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,305,575 |
| Savings and temporary cash investments | $2,887,839 |
| Pledges and grants receivable | $6,911,843 |
| 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 | $33,942 |
| Prepaid expenses and deferred charges | $22,017 |
| Net Land, buildings, and equipment | $9,878 |
| Investments—publicly traded securities | $6,946,441 |
| Investments—other securities | $5,751,217 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,751 |
| Total assets | $24,876,503 |
| Accounts payable and accrued expenses | $536,328 |
| 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 | $536,328 |
| Net assets without donor restrictions | $18,695,242 |
| Net assets with donor restrictions | $5,644,933 |
| 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 | $24,876,503 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Third Option Foundation has recieved totaling $26,000.
| Awarding Organization | Amount |
|---|---|
Source Foundation Newton, MA PURPOSE: CHARITABLE | $25,000 |
Jerold J & Marjorie N Principato Foundation Inc Chevy Chase, MD PURPOSE: GENERAL GRANT | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Montgomery County Coalition For The Homeless Inc Rockville, MD | $3,846,853 | $18,504,232 |
Southeastern Community Action Partnership Inc Lumberton, NC | $11,958,279 | $19,896,705 |
National Council Of Urban Indian Health Washington, DC | $1,404,220 | $8,677,340 |
North Carolina Justice Center Raleigh, NC | $7,153,656 | $8,035,969 |
Nuestros Pequenos Hermanosinternational Round Hill, VA | $4,147,042 | $6,283,043 |
The Orphanetwork Virginia Beach, VA | $3,197,466 | $6,293,778 |
Third Option Foundation Reston, VA | $24,876,503 | $12,300,421 |
Hope For Justice Inc Nashville, TN | $1,240,056 | $3,979,236 |
All Hazards Consortium Inc Frederick, MD | $860,935 | $3,674,057 |
Supportive Housing Communities Inc Charlotte, NC | $5,021,475 | $3,897,502 |
The Green Chair Project Inc Raleigh, NC | $6,753,039 | $4,421,917 |
Transportation Management Assoc Group Franklin, TN | $1,822,075 | $3,775,674 |