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Vets 1st INC FY2022 filing

Tax-deductible

Lewes, DE501(c)(3)Recreation & SportsEIN 03-0486104

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Vets 1st INC provides US military Vets with housing, training and a caring work enviroment that fosters personal enrichment & professional growth.

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $112K a year · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
2062 mo
of spending, in cash
Looks good: 2062.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.8M
113% of total assets
Concern: liabilities are 113% of assets; over 80%.
Pt X · Ln 26
Independent board members
1
of 1 voting members
Looks good: 1 of 1 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
−$374K
-37432500% vs prior year
Spent
$5K
To programs
0%
Net assets
−$204K
By yearFY2020–FY2024
Revenue
−$374K
FY2022▼ -37432500%
Revenue by fiscal year
FY2020$0
FY2021$1
FY2022−$374K
FY2023$356
FY2024−$126K
Expenses
$5K
FY2022▲ +70%
Expenses by fiscal year
FY2020$82
FY2021$3K
FY2022$5K
FY2023$13K
FY2024$40K
Net assets
−$204K
FY2022▼ -217%
Net assets by fiscal year
FY2020$63K
FY2021$175K
FY2022−$204K
FY2023−$349K
FY2024−$516K

From the FY2022 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2003.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

What each dollar paid for.

Management & general 100% · $5K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

1 person listed on the 990.

Part VII, Section A · reportable compensation
John Travis
Chairman
$0Pt VII · Sec A
See Vets 1st INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Helps veterans find housing, training, and supportive work environments for personal and professional growth.

Provided by the organization

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1 program service, described in the organization's own filed words · FY2022.
01

Vets 1ST inc provides training for us military personnel who are unable to find the right fit after miltary service

Pt IX · col B

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By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
−$374K
Ln 12
Investment incomeLn 3$3K
Gifts and grantsLn 1h$2K
Money outPt IX
$5K
Ln 25
Managementcol C$5K
Owns and owesPt X
−$204K
net assets · Ln 32
Cash and savingsLn 1–2$879K
Total assetsLn 16$1.6M
LiabilitiesLn 26$1.8M
PeoplePt VI, VII
1
listed · VII A
PaidVII A0
Voting boardVI 1a1
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2K
Investment incomeLn 3$3K
Gains on assetsLn 7−$379K
Total revenueLn 12−$374K
Assets in detailPt X, end of year
CashLn 1$879K
Cash and savings togetherLn 1–2$879K
InvestmentsLn 11–13$417K
Land, buildings, equipmentLn 10c$40K
Total assetsLn 16$1.6M
LiabilitiesLn 26$1.8M
Net assetsLn 32−$204K
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$210K$879K
InvestmentsLn 11–13$417K
Land, buildings, equipmentLn 10c$40K$40K
Total assetsLn 16$496K$1.6M
LiabilitiesLn 26$321K$1.8M
Net assetsLn 32$175K−$204K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other expenses (24a–d)Ln 24$5K$5K
Total functional expensesLn 25$5K$0$5K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest −$126K$40K−$167K−$516K 990 PDF
FY2023 $356$13K−$12K−$349K 990 PDF
FY2022 Viewing −$374K$5K−$379K−$204K 990 PDF
FY2021 $1$3K−$3K$175K 990 PDF
FY2020 $0$82−$82$63K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue −$374,324 across 5 lines filed
VIII-1f All other contributions, gifts and grants$1,600
VIII-1h Total contributions, gifts and grants$1,600
VIII-3 Investment incomeRelated to mission $3,259$3,259
VIII-7 Net gain or loss on sales of assetsRelated to mission −$379,183−$379,183
VIII-12 Total revenueRelated to mission −$375,924−$374,324
Part IX · Statement of functional expenses $5,114 across 1 line filed
IX-24 Other expenses (24a–d)Management $5,114$5,114
IX-25 Total functional expensesPrograms $0 · Management $5,114 · Fundraising $0$5,114
Part X · Balance sheet $1,581,821 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $209,772$878,757
X-8 Inventories for sale or useStart of year $246,487$246,487
X-10c Land, buildings and equipment, netStart of year $40,000$40,000
X-11 Publicly traded securities$416,577
X-16 Total assetsStart of year $496,259$1,581,821
X-25 Other liabilitiesStart of year $321,318$1,786,318
X-26 Total liabilitiesStart of year $321,318$1,786,318
X-27 Net assets without donor restrictionsStart of year $174,941−$204,497
X-32 Total net assets or fund balancesStart of year $174,941−$204,497
X-33 Total liabilities and net assetsStart of year $496,259$1,581,821
Part XI · Reconciliation of net assets −$204,497 net assets at year end
XI-1 Total revenue−$374,324
XI-2 Total expenses$5,114
XI-3 Revenue less expenses−$379,438
XI-4 Net assets at start of year$174,941
XI-10 Net assets at end of year−$204,497

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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