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National Veterans Foundation

CharityWatch report issued
August 2023

 
CharityWatch Grade
 

Contact Information

National Veterans Foundation
5777 West Century Blvd
Suite 350
Los Angeles, CA 90045-5656

Other Names

None

Tax Status

501(c)3

Website

www.nvf.org

Stated Mission

To serve the crisis management, information, and referral needs of America's veterans and their families.

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Data based on Fiscal Year Ended 12/31/2021

*Why a Question Mark Rating?

CharityWatch currently has concerns about this organization and/or is unable to provide complete rating information due to the organization's nondisclosure of financial information. Please see the Analysts' Notes section for a more detailed explanation.


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.
National Veterans Foundation
does not meet governance benchmarks.
 
National Veterans Foundation
does not meet transparency benchmarks.

CharityWatch Governance Concerns

See Analysts' Notes for Explanation
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

Unable to Provide Salaries

CharityWatch is unable to provide a range of Top Three Salaries for this charity for the above fiscal reporting year because we lack complete salary data for the organization. Except for officers, directors, and trustees, the IRS does not require breakouts of salaries totaling less than $100,000.

For example, XYZ charity would be required to provide a breakout in its tax form of compensation to its president of $55,000, but would not be required to provide a breakout of $99,000 in compensation to its top medical researcher if that person is not also an officer, director, or trustee of the organization.

This charity reports that compensation to its officers, directors, and trustees is under $100,000 per individual. Donors who would like to view limited salary data for this organization should refer to its tax form, which may be available on the charity's web site or from a number of third-party sources. See CharityWatch's Links page for information on obtaining copies of charity tax forms.


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.

CharityWatch has assigned National Veterans Foundation a "?" rating at this time due to our specific concerns about the charity's financial reporting for its fiscal year ended December 31, 2021.

Specifically, National Veterans Foundation (NVF) reports that its financial statements for fiscal 2021 were neither compiled, reviewed, nor audited by an independent accountant. (Form 990, Section XII, lines 2a & 2b). For more information about the importance of an audit please read CharityWatch's article here

If NVF publishes an audit of its finances in a future year CharityWatch may reassess our rating of the organization at that time. 


CharityWatch's historical ratings for National Veterans Foundation include the following:

Fiscal Year Ended 2018: Not Ratable due to small size

CharityWatch generally applies our methodology and assigns letter grade ratings to charities that take in at least $1 million in public cash contributions and that maintain an annual budget of at least $500,000. In fiscal 2011, NVF took in close to $6.4 million in public cash contributions and spent more than $6.8 million in cash expenses. Since that time NVF has contracted in size, raising less than $232,000 in public contributions and spending less than $580,000 in expenses, according to its IRS Form 990 tax filing for the fiscal year ended 6/30/2018.

As of 6/30/2018, NVF reported $1,852,941 in total net assets. Of this amount, $1,590,924 consisted of temporarily restricted net assets, and NVF reported having $1,672,884 in investments in the form of publicly traded securities, according to the NVF fiscal 2018 IRS Form 990, Part X. NVF's available fund balance at fiscal year-end 2018 was more than three times its expense budget for the year.

According to the NVF tax filing for the fiscal year ended June 30, 2018 (IRS Form 990, Schedule D, Part XIII):

"The Foundation received an endowment of $4,900,000 in 2005 from an individual's estate. Terms of the endowment permit the Foundation to withdraw 5% of the endowment's principal plus earnings on the principal each year to be spent on the Foundation's programs."


Fiscal Year Ended 2015: Not Ratable due to small size

CharityWatch generally applies our methodology and assigns letter grade ratings to charities that take in at least $1 million in public cash contributions and that maintain an annual budget of at least $500,000. In 2011, NVF took in more than $6 million in public contributions and spent more than $6.8 million in cash expenses. Since that time NVF has contracted in size, raising less than $300,000 in public contributions and spending less than $600,000 in the fiscal year-ended June 30, 2015.

As of 6/30/2015, NVF reported $2,524,659 in total net assets. Of this amount, $2,375,108 consisted primarily of temporarily restricted "Investment in Mutual Funds" originally donated to the organization in 2005, 2006 and 2007 from a specific donor's estate, according to NVF's audited financial statements of the same year.


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