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0019 Somerville Post INC FY2024 filing

Tax-deductible

Somerville, MA501(c)(19)Mutual / membership EIN 04-1028125Revenue $31K in FY2024

On file with the IRS124 Highland Ave, 02143-1694 · Somerville, MATax-exempt since Oct 1921

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To provide entertainment, care and assistance to those in the armed forces. To assist disabled or needy way veterans and descendants.

501(c)(19) veterans' organization; the IRS lists gifts to it as tax-deductible.
3¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(19)
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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average surplus $131K a year · 42% of revenue · last 6 filings
Worth a look: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
3%
of spending
Concern: 3% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
27 mo
of spending, in cash
Plus $819K in investments, Pt X · Ln 11–13
Looks good: 27.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$31K
+67% vs prior year
Spent
$115K
To programs
3%
Net assets
$1.1M
By yearFY2020–FY2025
Revenue
$31K
FY2024▲ +67%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.7M
FY2021$35K
FY2022$72K
FY2023$19K
FY2024$31K
FY2025$29K
Expenses
$115K
FY2024▼ -44%
Tap a bar for its year
Expenses by fiscal year
FY2020$283K
FY2021$219K
FY2022$87K
FY2023$206K
FY2024$115K
FY2025$169K
Net assets
$1.1M
FY2024▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.5M
FY2021$1.4M
FY2022$1.1M
FY2023$1.0M
FY2024$1.1M
FY2025$996K

From the FY2024 Form 990 (year ending September 2024) · see the original

990 PDF Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1921.

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

Where the money goes

3 cents of each dollar spent went to programs.

Program services 3% · $3K Management & general 97% · $112K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Robert Karasinski
Executive Board
$0Pt VII · Sec A
Thomas White
Executive Board
$0Pt VII · Sec A
Mike Sullivan
Executive Board
$0Pt VII · Sec A
Leonard Poirier
Financial Officer
$0Pt VII · Sec A
$0Pt VII · Sec A
Mark Killoran
Senior Vice Commander
$0Pt VII · Sec A
Norman Farcarda
Junior Vice Commander
$0Pt VII · Sec A
$0Pt VII · Sec A
See 0019 Somerville Post 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

Entertains, cares for, and assists service members, disabled veterans, and their descendants.

Questions for 0019 Somerville Post INC

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Provided by the organization

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1 program · $3K · in their own filed words · FY2023
01

POST19 color guard and kids christmas party

$3Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$31K
Ln 12
Investment incomeLn 3$29K
Gifts and grantsLn 1h$2K
Other incomeLn 4–11$12
Money outPt IX
$115K
Ln 25
Programscol B$3K
Managementcol C$112K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$260K
Total assetsLn 16$1.1M
LiabilitiesLn 26$0
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2K
Investment incomeLn 3$29K
Other incomeLn 4–11$12
Total revenueLn 12$31K
Assets in detailPt X, end of year
CashLn 1$20K
SavingsLn 2$240K
Cash and savings togetherLn 1–2$260K
InvestmentsLn 11–13$819K
Total assetsLn 16$1.1M
LiabilitiesLn 26$0
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 611
Fiscal year endsHeaderSeptember
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 FY24End FY24
Cash and savingsLn 1–2$298K$260K
InvestmentsLn 11–13$819K$819K
Total assetsLn 16$1.1M$1.1M
LiabilitiesLn 26$0$0
Net assetsLn 32$1.1M$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$10K$10K
Accounting feesLn 11c$2K$2K
Office expensesLn 13$510$510
TravelLn 17$200$200
InsuranceLn 23$800$800
Other expenses (24a–d)Ln 24$64K$64K
All other expensesLn 24e$38K$3K$35K
Total functional expensesLn 25$115K$3K$112K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $29K$169K−$140K$996K 990 PDF
FY2024 Viewing $31K$115K−$84K$1.1M 990 PDF
FY2023 $19K$206K−$188K$1.0M 990 PDF
FY2022 $72K$87K−$15K$1.1M 990 PDF
FY2021 $35K$219K−$184K$1.4M 990 PDF
FY2020 $1.7M$283K$1.4M$1.5M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $31,069 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,625$1,805
I-9 Program service revenue$0
I-10 Investment incomePrior year $16,726$29,252
I-11 Other revenuePrior year $231$12
I-12 Total revenuePrior year $18,582$31,069
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $206,176$115,010
I-18 Total expensesPrior year $206,176$115,010
I-19 Revenue less expensesPrior year −$187,594−$83,941
Part VI · Governance 9 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $31,069 across 5 lines filed
VIII-1b Membership dues$1,805
VIII-1h Total contributions, gifts and grants$1,805
VIII-3 Investment incomeRelated to mission $29,252$29,252
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $12$12
VIII-12 Total revenueRelated to mission $29,264 · Unrelated business $0 · Excluded from tax $0$31,069
Part IX · Statement of functional expenses $115,010 across 7 lines filed
IX-11b Legal feesManagement $10,000$10,000
IX-11c Accounting feesManagement $1,950$1,950
IX-13 Office expensesManagement $510$510
IX-17 TravelManagement $200$200
IX-23 InsuranceManagement $800$800
IX-24 Other expenses (24a–d)Management $64,015$64,015
IX-24e All other expensesPrograms $2,911 · Management $34,624$37,535
IX-25 Total functional expensesPrograms $2,911 · Management $112,099 · Fundraising $0$115,010
Part X · Balance sheet $1,078,576 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $17,984$19,847
X-2 Savings and temporary cash investmentsStart of year $279,598$240,077
X-12 Other securitiesStart of year $818,652$818,652
X-16 Total assetsStart of year $1,116,234$1,078,576
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $1,116,234$1,078,576
X-33 Total liabilities and net assetsStart of year $1,116,234$1,078,576
Part XI · Reconciliation of net assets $1,078,576 net assets at year end
XI-1 Total revenue$31,069
XI-2 Total expenses$115,010
XI-3 Revenue less expenses−$83,941
XI-4 Net assets at start of year$1,116,234
XI-5 Net unrealized gains (losses) on investments$46,283
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,078,576

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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