Amvets
- Assets
- $701.7k
- Revenue
- $274.5k
- Investments
- $0.0
- Employees
- 25
- Location
- Thurmont, MD
- Founding
- 02/1954
- Data as of
- 05/2022
- EIN
- 52-1305171
Organization Overview
Amvets, operating under the name Thurmont Amvets Post 7 Inc, is located in Thurmont, MD. The organization was established in 1954. 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 05/2022, Thurmont Amvets Post 7 Inc employed 25 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Thurmont Amvets Post 7 Inc 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 05/2022, Thurmont Amvets Post 7 Inc generated $274.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $238.6k during the year ending 05/2022. 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
MEMBER ACTIVITIES FOR VETERANS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THURMONT AMVETS POST #7 INC. PROVIDES SOCIAL AND RECREATIONAL ACTIVITIES FOR ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Mahoney Secretary | OfficerTrustee | 5 | $10,811 |
Ed Mckinnon Asst Director | Trustee | 5 | $6,037 |
Bruce Rice Treasurer | OfficerTrustee | 10 | $4,933 |
Steve Lawarence President | OfficerTrustee | 5 | $0 |
Dave Becker 1st Vice President | OfficerTrustee | 5 | $0 |
Joe Rice 2nd Vice President | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,528 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,089 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,617 |
| Total Program Service Revenue | $0 |
| Investment income | $5,644 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $39,751 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $197,595 |
| Net Income from Sales of Inventory | $17,116 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $274,529 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,900 |
| Grants and other assistance to domestic individuals. | $1,000 |
| 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 | $24,269 |
| Other salaries and wages | $92,040 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,031 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,145 |
| Advertising and promotion | $0 |
| Office expenses | $3,010 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $28,264 |
| Insurance | $11,876 |
| All other expenses | $79 |
| Total functional expenses | $238,570 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $217,426 |
| Savings and temporary cash investments | $0 |
| 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 | $25,935 |
| Prepaid expenses and deferred charges | $1,411 |
| Net Land, buildings, and equipment | $139,997 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $316,954 |
| Total assets | $701,723 |
| Accounts payable and accrued expenses | $707 |
| 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 | $707 |
| Net assets without donor restrictions | $701,016 |
| 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 | $701,723 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Army Emergency Relief Arlington, VA | $416,891,741 | $42,370,093 |
Disabled Veterans National Foundation Lanham, MD | $4,002,703 | $34,751,168 |
Navy-Marine Corps Relief Society Arlington, VA | $160,427,961 | $29,210,374 |
Military Officers Association Of America Alexandria, VA | $184,530,638 | $38,032,797 |
Military Order Of The Purple Heart Service Foundation Inc Annandale, VA | $2,548,586 | $20,677,650 |
Air Force Aid Society Inc Arlington, VA | $262,482,165 | $46,086,376 |
Veterans Multi-Service Center Inc Philadelphia, PA | $4,990,474 | $14,923,218 |
The National Military Family Association Alexandria, VA | $8,448,648 | $9,411,080 |
Vietnam Veterans Of America Inc Silver Spring, MD | $22,711,920 | $10,930,074 |
United Service Organizations Inc Fort Myer, VA | $0 | $2,240,114 |
Marine Corps Association Quantico, VA | $17,818,262 | $7,455,788 |
U S Naval Sea Cadet Corps Arlington, VA | $6,985,927 | $8,234,482 |