Heroes Inc
- Assets
- $27.0m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 3
- Location
- Washington, DC
- Founding
- 01/1965
- Data as of
- 12/2023
- EIN
- 52-6057916
Organization Overview
Heroes Inc is located in Washington, DC. The organization was established in 1965. According to its NTEE Classification (I12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Crime & Legal-Related and related organizations. As of 12/2023, Heroes Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heroes Inc 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 12/2023, Heroes Inc generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (11.3%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ASSISTING OFFICERS' FAMILIES WITHIN 24 HOURS OF THE TRAGIC LOSS & CONTINUING INDEFINITELY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WIDOWS & FAMILY BENEFITS PROGRAM: UNDER THE WIDOWS & FAMILY BENEFIT PROGRAM, HEROES PROVIDES FINANCIAL ASSISTANCE TO THE IMMEDIATE FAMILY MEMBERS OF A DECEASED LAW ENFORCEMENT OFFICER AND FIREFIGHTERS IN THE GREATER WASHINGTON AREA.
SCHOLARSHIP PROGRAM: UNDER THE SCHOLARSHIP PROGRAM, HEROES PROVIDES COLLEGE SCHOLARSHIPS TO THE CHILDREN OF DECEASED LAW ENFORCEMENT OFFICERS AND FIREFIGHTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Nichols President | OfficerTrustee | 40 | $293,670 |
Michael Farr Chairman | OfficerTrustee | 3 | $0 |
Kevin Virostek Treasurer | OfficerTrustee | 3 | $0 |
Michele Hagans Secretary | OfficerTrustee | 2 | $0 |
David Julyan General Counsel | Trustee | 2 | $0 |
Cherrie Doggett Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $13,103 |
| Membership dues | $23,500 |
| Fundraising events | $293,078 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $530,157 |
| Noncash contributions included in lines 1a–1f | $25,362 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $859,838 |
| Total Program Service Revenue | $0 |
| Investment income | $421,522 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$139,633 |
| Net Income from Fundraising Events | -$99,356 |
| Net Income from Gaming Activities | $19,974 |
| Net Income from Sales of Inventory | $6,095 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,068,440 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $230,122 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $304,900 |
| Compensation of current officers, directors, key employees. | $45,689 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $50,008 |
| Pension plan accruals and contributions | $1,645 |
| Other employee benefits | $0 |
| Payroll taxes | $20,221 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,665 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $101,600 |
| Fees for services: Other | $11,396 |
| Advertising and promotion | $0 |
| Office expenses | $40,982 |
| Information technology | $90,016 |
| Royalties | $0 |
| Occupancy | $188,416 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,654 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,965 |
| Insurance | $15,030 |
| All other expenses | $0 |
| Total functional expenses | $1,264,078 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $264,171 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $4,900 |
| 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 | $5,529 |
| Net Land, buildings, and equipment | $11,932 |
| Investments—publicly traded securities | $26,445,616 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $268,896 |
| Total assets | $27,001,044 |
| Accounts payable and accrued expenses | $16,152 |
| 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 | $303,613 |
| Total liabilities | $319,765 |
| Net assets without donor restrictions | $26,676,379 |
| Net assets with donor restrictions | $4,900 |
| 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 | $27,001,044 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Westminster Ingleside King Farm Presbyterian Retirement Communitie Rockville, MD | $4,940,848 | $7,232,307 |
National Center For Police Defense Inc Fairfax, VA | $57,072 | $1,735,329 |
Heroes Inc Washington, DC | $27,001,044 | $1,068,440 |
Baltimore Bar Foundation Inc Baltimore, MD | $393,565 | $313,482 |
Greater Richmond Bar Foundation Richmond, VA | $336,795 | $278,051 |
Baltimore County Police Foundation Inc Baltimore, MD | $719,049 | $289,779 |
Chesterfield County Police Foundation Inc Chesterfield, VA | $935,132 | $161,649 |
Virginia Beach Bar Foundation Virginia Beach, VA | $52,346 | $0 |