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Vietnam Veterans of America

CharityWatch report issued
October 2020

F
CharityWatch Grade
Our independent grade based
on a number of factors.
 
25%
Program Percentage
Amount spent on programs
relative to overhead.
 
$67
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

Vietnam Veterans of America
8719 Colesville Road
Suite 100
Silver Spring, MD 20910

Other Names

Veterans Voice of America
VetsConnect
VVA Car Donation Program

Tax Status

501(c)19

Website

www.vva.org

Stated Mission

To support a full range of issues affecting Vietnam veterans, as well as, all veterans.

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Data based on Fiscal Year Ended 02/28/2019

Program Percentage: 25%

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

$25,000,000

Calculated Total Expenses

(rounded)

 

Cost to Raise $100: $67

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

$26,000,000

Calculated Total Contributions

(rounded)

Government Funding

0% to 24%

Percentage of cash revenue
coming from government sources

 

Financial Documents

Entity Document Type Tax ID
Vietnam Veterans of America IRS Form 990 13-2929110
Vietnam Veterans of America Audited Financial Statements 13-2929110
Entity: Vietnam Veterans of America
Document Type: IRS Form 990
Tax ID: 13-2929110
Entity: Vietnam Veterans of America
Document Type: Audited Financial Statements
Tax ID: 13-2929110

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 of America
does not meet governance benchmarks.
 
Vietnam Veterans of America
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 Joseph Sternburg CFO $139,239
1
Name: Joseph Sternburg
Title: CFO
Compensation: $139,239

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.

Vietnam Veterans of America (VVA) reported spending 69% of its expenses on programs in fiscal 2019. CharityWatch's analysis of VVA's IRS Form 990 tax filing and audited financial statements for the fiscal year ended 02/28/2019 shows that VVA spent only 25% of its expenses on programs.

Why the difference?

In short, in its audit, VVA refers to the costs associated with collecting "discarded household items and automobiles from the community" to be a "Recycling Program." It subtracts these costs from the revenue it generates from selling these donated items to "contracted private companies." Therefore, these costs do not show up in VVA's reported fundraising and total expenses. A donor who takes the charity's reported operating expenses at face value would think VVA is operating more efficiently, and spending a higher portion of its budget on programs, than it actually is.

CharityWatch disagrees with VVA's reporting. The expenses a charity incurs to raise donations, whether the donations are in the form of cash or non-cash items like donated household goods, are fundraising expenses and should be reported as such.

In fiscal 2019, VVA reported spending approximately $15.8 million on "solicitation costs for generating the items collected and sales costs for selling the items," according to its audit of the same year. For this reason, CharityWatch adds this amount to VVA's reported fundraising expenses so that all of its solicitation costs are reflected in its rating. (Correspondingly, CharityWatch adds to VVA's contributions the associated "Recycling Program Revenue," which was approximately $22.3 million in fiscal 2019.)

According to the Vietnam Veterans of America (VVA) audit of February 28, 2019 (Note 3, Life Memberships):

"Life memberships are offered to VVA members at a fixed amount. In exchange for these dues, VVA is obligated to provide various services to these members for the duration of their lives. VVA has designated funds for providing future services... As of February 28, 2019 and 2018, VVA had $2,435,374 and $2,971,338, respectively, of designated investments."