Folds Of Honor Foundation
- Assets
- $1.2m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Wayzata, MN
- Founding
- 12/2015
- Data as of
- 12/2022
- EIN
- 46-5531485
Organization Overview
Folds Of Honor Foundation is located in Wayzata, MN. The organization was established in 2015. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Folds Of Honor 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 12/2022, Folds Of Honor Foundation generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.8% each year . All expenses for the organization totaled $1.8m during the year ending 12/2022. While expenses have increased by 20.0% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
RAISE FUNDS FOR FOLDS OF HONOR FOUNDATION TO ASSIST FAMILIES OF FALLEN & DISABLED SERVICE MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOLDS OF HONOR FOUNDATION IS RALLYING A NATION TO ENSURE NO FAMILY IS LEFT BEHIND IN THE FIGHT TO PRESERVE AMERICAN FREEDOM. THROUGH SCHOLARSHIPS AND OTHER ASSISTANCE, WE GIVE BACK TO THE SPOUSES AND CHILDREN OF SOLDIERS KILLED OR DISABLED IN SERVICE TO OUR COUNTRY. WE PROVIDE HEALING, HOPE AND AN OPPORTUNITY FOR DREAMS TO BE REALIZED WITH THE SUPPORT OF PEOPLE LIKE YOU. WE FEEL THIS IS OUR DUTY AS CITIZENS OF THE GREATEST COUNTRY IN THE WORLD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Perry Schmidt President | OfficerTrustee | 4 | $0 |
Anne Schmidt Secretary | OfficerTrustee | 4 | $0 |
Robert Cron Treasurer | OfficerTrustee | 1 | $0 |
Rob Holt Director | Trustee | 1 | $0 |
Chris Schwartzbauer Director | Trustee | 1 | $0 |
John Pohlad Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,316,965 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,036,127 |
| Noncash contributions included in lines 1a–1f | $5,647 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,353,092 |
| Total Program Service Revenue | $0 |
| Investment income | $22,817 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $47,429 |
| Net Income from Fundraising Events | -$483,951 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,939,387 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,500,000 |
| 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 | $22,780 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $862 |
| Fees for services: Accounting | $33,570 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $88,906 |
| Advertising and promotion | $6,313 |
| Office expenses | $25,444 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,788 |
| Travel | $5,136 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,344 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,040 |
| All other expenses | $106,885 |
| Total functional expenses | $1,804,068 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $339,533 |
| Savings and temporary cash investments | $49,052 |
| 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 | $2,331 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $795,356 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,186,272 |
| Accounts payable and accrued expenses | $18,600 |
| 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 | $18,600 |
| 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 | $1,167,672 |
| Total liabilities and net assets/fund balances | $1,186,272 |
Grants Awarded
Over the last fiscal year, Folds Of Honor Foundation has awarded $357,194 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FOLDS OF HONOR NATIONAL PURPOSE: EDUCATIONAL SCHOLARSHIPS | $350,000 |
FOLDS OF HONOR NASHVILLE PURPOSE: ASSISTANCE WITH FUNDRASINNG EVENTS | $7,194 |