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Vietnam Veterans Memorial Fund

CharityWatch report issued
January 2021

C-
CharityWatch Grade
Our independent grade based
on a number of factors.
 
65%
Program Percentage
Amount spent on programs
relative to overhead.
 
$59
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

Vietnam Veterans Memorial Fund
1235 S Clark St
Suite 910
Arlington, VA 22202-4366

Other Names

None

Tax Status

501(c)3

Website

www.vvmf.org

Stated Mission

To honor and preserve the legacy of service and educate all generations about the impact of the Vietnam War.

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Data based on Fiscal Year Ended 09/30/2019

Program Percentage: 65%

The percentage of Vietnam Veterans Memorial Fund's cash budget it spends on programs relative to overhead (fundraising, management, and general expenses).

$11,000,000

Calculated Total Expenses

(rounded)

 

Cost to Raise $100: $59

How many dollars Vietnam Veterans Memorial Fund spends on fundraising to raise each $100 of contributions.

$6,100,000

Calculated Total Contributions

(rounded)

Joint Costs

Vietnam Veterans Memorial Fund's rating was adjusted for Joint Costs. If you are a donor who considers direct mail, telemarketing, and other Joint Cost solicitations to be true charitable programs, the below efficiency ratios, which were not adjusted for joint costs, may better reflect your goals.

Program % Cost to Raise $100
84% $24
Accounting rules allow charities to report some telemarketing, direct mail, and other solicitation costs as Program expenses. CharityWatch believes that most donors do not consider a charity's solicitation activities to be the Programs they are intending to support with their donations. We therefore adjust such expenses out of a charity's reported Program expense and add it to Fundraising expense prior to calculating its rating.

Government Funding

0% to 24%

Percentage of cash revenue
coming from government sources

 

Financial Documents

Entity Document Type Tax ID
Vietnam Veterans Memorial Fund IRS Form 990 52-1149668
Vietnam Veterans Memorial Fund Audited Financial Statements 52-1149668
Entity: Vietnam Veterans Memorial Fund
Document Type: IRS Form 990
Tax ID: 52-1149668
Entity: Vietnam Veterans Memorial Fund
Document Type: Audited Financial Statements
Tax ID: 52-1149668

Governance & Transparency

CharityWatch evaluates certain criteria related to a charity's Governance and Transparency. Donors may want to consider a charity's willingness to be open and transparent with CharityWatch to be a good litmus test for determining its commitment to public accountability.
Vietnam Veterans Memorial Fund
meets governance benchmarks.
 
Vietnam Veterans Memorial Fund
meets transparency benchmarks.
Transparency
Provides Financial Information
Audit Accessibility
Governance: Policies
Reports regularly & consistently monitoring & enforcing compliance with a written Conflict of Interest Policy
Reports required, annual disclosure by officers, directors, and key staff of interests that could give rise to conflicts
Reports having a written Whistleblower Policy
Reports having a written Document Retention and Destruction Policy
Governance: Financials
Reports providing copy of tax form to all board members prior to filing it with IRS
Reports that financial statements were audited by an independent accountant
Governance: Board of Directors
Reports at least 5 voting board members
51% or more of voting board members reported as independent
Reports documenting minutes of board and board committee meetings
Privacy Policy
Privacy Policy

  Name Title Compensation
1 Jim Knotts President/CEO/COO $249,250
2 Viktoras Zikas Chief Development Officer $208,807
1
Name: Jim Knotts
Title: President/CEO/COO
Compensation: $249,250
2
Name: Viktoras Zikas
Title: Chief Development Officer
Compensation: $208,807

CharityWatch Analysts perform an in-depth analysis of charities' audited financial statements and IRS tax filings, and often review other documents such as state filings, annual reports, and fundraising contracts during their evaluations. Below are select notes that CharityWatch believes may be of interest to donors.

According to the Vietnam Veterans Memorial Fund audit of September 30, 2019 (Note 13, Donated Goods and Services), the Fund received donated goods and services in fiscal 2019 on which it placed a total value of $4,099,685. Of this amount, $3,963,720 consisted of donated public relations for the "Memorial legacy."

[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 Vietnam Veterans Memorial Fund audit of September 30, 2019 (Note 1, Nature of Operations, Memorandum of Conveyance):

"On November 13, 1984, the Fund and the U.S. Department of the Interior entered into a Memorandum of Conveyance, which governs the conditions under which the Fund conveyed all rights, title, and interest in the Vietnam Veterans Memorial to the U.S. Department of the Interior. Under the Memorandum of Conveyance, the Fund has the rights and responsibilities of:

  • Participating with the National Park Service in ceremonies at the memorial on Memorial Day and Veterans Day.
  • From time to time, adding names of those determined by the Department of Defense. 
  • Maintaining residual funds to assist with repairs in the event of catastrophic damage to the memorial, requiring more than ordinary maintenance to restore the memorial to its original completed condition.

"The obligation to provide ordinary maintenance and care for the memorial was previously given to the Secretary of the Interior under Section 4 of the Joint Congressional Resolution, authorizing the Fund to establish a memorial."

According to the Vietnam Veterans Memorial Fund audit of September 30, 2019 (Note 2 re: Education Center – Construction in Progress):

"The Fund was in the process of designing an Education Center, which would have been located on the National Mall adjacent to the Vietnam Veterans Memorial. Direct and indirect costs associated with the architectural and pre-construction services, curator services, and layout and exhibit design of the Education Center were capitalized. Effective September 21, 2018, the Board of Directors and management of the Fund terminated the efforts to construct a physical building on the National Mall and shifted their focus to continue efforts of building online resources, developing hand-held technology, education staff, mobile exhibits, and partnerships. As a result, during the year ended September 30, 2018, the Fund disposed of the capitalized cost totaling $8,437,271, which is included on the accompanying [audited] statement of activities as a loss on discontinued operations [in fiscal year 2018]."


According to the Vietnam Veterans Memorial Fund audit of September 30, 2019 (Note 2 re: Education Center – Grants to be Repaid per Donor Contracts):

"In conjunction with terminating the construction of the physical building on the National Mall, the Fund cancelled pledges and repaid previously received grant funds to donors totaling $6,500,000 and $13,453,543 during the years ended September 30, 2019 and 2018, respectively. At September 30, 2019 and 2018, remaining funds to be repaid to donors amounted to $3,500,000 and $7,945,133, respectively..."

According to the Vietnam Veterans Memorial Fund audit of September 30, 2019 (Note 10, Commitments and Contingencies, Direct Mail Contract):

"The Fund engages an outside third party to distribute educational materials to the public, which describes the purpose of the Fund and how the general public can participate in honoring Vietnam veterans. The educational mailings also provide space for a fundraising appeal. This agreement renews annually and can be terminated upon 60 days' written notice by either party. The contract calls for a fixed monthly fee of approximately $30,000, plus the cost of materials and postage."


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