Folds Of Honor Foundation
- Assets
- $87.1m
- Revenue
- $55.6m
- Investments
- $0.0
- Employees
- 91
- Location
- Owasso, OK
- Founding
- 10/2016
- Data as of
- 12/2022
- EIN
- 75-3240683
Organization Overview
Folds Of Honor Foundation is located in Owasso, OK. The organization was established in 2016. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2022, Folds Of Honor Foundation employed 91 individuals. This organization is a parent organization of 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 $55.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 15.4% each year . All expenses for the organization totaled $47.0m during the year ending 12/2022. While expenses have increased by 15.7% 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
TO PROVIDE EDUCATIONAL SCHOLARSHIPS FOR QUALIFYING SPOUSES AND/OR DEPENDENT CHILDREN OF MILITARY SERVICE MEN AND WOMEN AND FIRST RESPONDERS KILLED OR DISABLED WHILE SERVING AND DEFENDING OUR GREAT NATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS GIVEN BY THE FOLDS OF HONOR FOUNDATION SCHOLARSHIP PROGRAM AT TULSA COMMUNITY FOUNDATION FOR QUALIFYING SPOUSES AND/OR DEPENDENT CHILDREN OF MILITARY SERVICE MEN AND WOMEN AND FIRST RESPONDERS KILLED OR DISABLED WHILE SERVING AND DEFENDING OUR GREAT NATION. QUALIFYING CRITERIA INCLUDES DOCUMENTED PROOF OF SERVICE, DEATH CERTIFICATE OR DISABILITY RATING, MARRIAGE OR DEPENDENCY STATUS, VERIFIED AND APPROVED EDUCATIONAL INSTITUTION/PROGRAM. APPROXIMATELY 42,600 SCHOLARSHIPS HAVE BEEN AWARDED AS OF 12/31/2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lt Colonel Dan Rooney CEO & Founder | OfficerTrustee | 40 | $441,036 |
Mike Arbour Board Chairman | OfficerTrustee | 3 | $0 |
Brian Whitcomb Secretary/nominating Chair | OfficerTrustee | 3 | $0 |
Ryan Lewellyn Board Member | Trustee | 3 | $0 |
Jeff Babineau Board Member | Trustee | 3 | $0 |
Larry Pfeiffer Board Member | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
American Dunes Llc Golf Fundraising Event Expense | 12/30/22 | $195,097 |
Idea Ranch Various Marketing Services | 12/30/22 | $1,214,510 |
Forza Construction Services Llc Masonry Work New Headquarters | 12/30/22 | $151,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $3,013,301 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $52,475,380 |
| Noncash contributions included in lines 1a–1f | $417,199 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $55,488,681 |
| Total Program Service Revenue | $0 |
| Investment income | $575,051 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$31,288 |
| Net Gain/Loss on Asset Sales | -$215 |
| Net Income from Fundraising Events | -$691,948 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $302,709 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $55,642,990 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $32,078,752 |
| 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. | $1,173,360 |
| Compensation of current officers, directors, key employees. | $389,236 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,698,725 |
| Pension plan accruals and contributions | $255,893 |
| Other employee benefits | $826,965 |
| Payroll taxes | $410,103 |
| 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 | $231,307 |
| Advertising and promotion | $2,703,841 |
| Office expenses | $519,729 |
| Information technology | $386,126 |
| Royalties | $0 |
| Occupancy | $67,507 |
| Travel | $581,242 |
| 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 | $156,138 |
| Insurance | $127,404 |
| All other expenses | $415,336 |
| Total functional expenses | $46,972,258 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,885,564 |
| Savings and temporary cash investments | $31,617,482 |
| Pledges and grants receivable | $795,296 |
| Accounts receivable, net | $729,655 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $324,528 |
| Prepaid expenses and deferred charges | $915,686 |
| Net Land, buildings, and equipment | $15,806,923 |
| Investments—publicly traded securities | $21,006,062 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,039,430 |
| Total assets | $87,120,626 |
| Accounts payable and accrued expenses | $13,577,453 |
| Grants payable | $0 |
| Deferred revenue | $10,779 |
| 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 | $13,588,232 |
| Net assets without donor restrictions | $64,490,881 |
| Net assets with donor restrictions | $9,041,513 |
| 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 | $87,120,626 |
Grants Awarded
Over the last fiscal year, Folds Of Honor Foundation has awarded $32,078,752 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
TULSA COMMUNITY FOUNDATION PURPOSE: SCHOLARSHIPS | $31,660,249 |
PGA FOUNDATION INC DBA PGA REACH PURPOSE: HOPE MILITARY PROGRAM CONTRIBUTION | $418,503 |