Iraq & Afghanistan Veterans of America

According to the Iraq & Afghanistan Veterans of America (IAVA) audit of December 31, 2021 (Note 4, Pledges and Grants Receivable):

"In 2021 and 2020, approximately 39% and 47% of contributions and special events revenue and support was received from one donor and three donors, respectively."

According to the Iraq & Afghanistan Veterans of America (IAVA) audit of December 31, 2021 (Note 8, Non-cash Donations), IAVA reports receiving non-cash donations described as "Advocacy" in 2021 on which it placed a total value of $20,000.

[Note: CharityWatch generally excludes the value of in-kind (non-cash) donations of goods and services from its calculations of Program % and Cost to Raise $100. More information on how grades are calculated and the treatment of in-kind donations can be found on the Our Process page.]

According to the Iraq & Afghanistan Veterans of America (IAVA) audit of December 31, 2021 (Note 11, PPP Loan Payable):

"IAVA received a $355,369 Paycheck Protection Program loan (the 'PPP Loan') from the Small Business Administration ('SBA'). The PPP Loan was to mature on May 4, 2022, had an interest rate of 1.0% per annum and no payments were due until November 4, 2020. On May 20, 2021, the PPP Loan and accrued interest of $3,709 were forgiven.

"In March 2021, IAVA received an additional PPP Loan of $353,597. The loan was to mature on March 17, 2026, has an interest rate of 1.0% per annum and no payments were due until July 1, 2022. On October 25, 2021, the PPP Loan and accrued interest of $2,005 were forgiven."

According to the Iraq & Afghanistan Veterans of America (IAVA) audit of December 31, 2021 (Note 13, CARES Act):

"On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the 'CARES Act') was signed into law. Two provisions of the CARES Act have assisted the Academy's [sic] liquidity position, the employee retention credit and the Paycheck Protection Program (see Note 11 [cited separately, above]).

"The employee retention credit provides employers a refundable federal tax credit equal to 50% of the first $10,000 for calendar year 2020 and 70% of the first $10,000 for each quarter in calendar year 2021 of qualified wages and benefits paid to employees. Contributions to qualified medical plans also constitute creditable amounts. The credit is available to offset all federal employment withholdings owed in a particular quarter including both the employer and employee share of social security, Medicare taxes and withholdings for federal income taxes. To the extent that the credit exceeds employment withholdings, the employer may request a refund of prior taxes paid. IAVA determined that the conditions to qualify for the employee retention credit have been substantially met during the third calendar quarter of 2020 and first calendar quarter of 2021. The IAVA recorded other income for the employee retention credits totaling $84,000 for the year ended December 31, 2021..."

According to the Iraq & Afghanistan Veterans of America (IAVA) audit of December 31, 2021 (Note 12, Risks and Uncertainties):

"IAVA relies heavily on contributions and support from the Board to fund all of its operations. Any changes in the United States political and/or military environment may have a direct result on the IAVA's ability to raise funds.

"IAVA's operations may be affected by the ongoing outbreak of the coronavirus disease 2019 ('COVID-19'), which in March 2020, was declared a pandemic by the World Health Organization. The ultimate disruption which may be caused by the outbreak is uncertain; however, it may result in a material adverse impact on IAVA's financial position, operations, cash flows, and the value of assets, including pledges and grants receivable."