Veterans Heritage Project

Phoenix, AZ · Public charity (501(c)(3)) · Arts & Culture

✓ Tax-deductible
Revenue
$749K
+9% vs prior year
Spent
$687K
To programs
75%
Net assets
$992K
By yearFY2021–FY2025
Revenue
$749K
FY2025▲ +9%
Revenue by fiscal year
FY2021$905K
FY2022$521K
FY2023$657K
FY2024$686K
FY2025$749K
Expenses
$687K
FY2025▼ -0.6%
Expenses by fiscal year
FY2021$372K
FY2022$438K
FY2023$628K
FY2024$691K
FY2025$687K
Net assets
$992K
FY2025▲ +7%
Net assets by fiscal year
FY2021$822K
FY2022$905K
FY2023$934K
FY2024$929K
FY2025$992K

From the FY2025 Form 990 (year ending June 2025) · see the original

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2025 (typical filing lag)
Legal name (IRS)Hdr · item CVeterans Heritage Project
EINHdr · item D26-4572636
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFMar 2010
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CPhoenix, AZ
NTEE classificationIRS BMFArts & Culture (A80)
WebsiteHdr · item Jwww.veteransheritage.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.75 Management & general $0.15 Fundraising $0.10
Program services75%$516K
Management & general15%$104K
Fundraising10%$67K
Total functional expensesLn 25$687K

Financial health

Is it on solid ground?

Program efficiency
75%
of spending reaches programs▲ +3% vs prior filing year
Operating runway
16.7mo
months of highly liquid reserves at operating expense rate▼ -3% vs prior filing year
Surplus margin
+8%
revenue over expenses, this year▲ ×12 vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Total assets
$1.0M
FY2025▲ +4%
Total assets by fiscal year
FY2021$852K
FY2022$933K
FY2023$1.0M
FY2024$990K
FY2025$1.0M
Total liabilities
$42K
FY2025▼ -32%
Total liabilities by fiscal year
FY2021$30K
FY2022$28K
FY2023$90K
FY2024$62K
FY2025$42K
Revenue less expensesPt I · Ln 19$62K
Total assetsPt X · Ln 16$1.0M
Program-expense ratioPt IX · col B75%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49

Balance Sheet

Part X · end of year
CashLn 1$903K
Total assetsLn 16$1.0M
Total liabilitiesLn 26$42K
Total net assetsLn 32$992K
Months of cash on handcomputed15.8

Statement of Revenue

Part VIII
Contributions & grants$754K · 101%
Investment income$29K · 4%
Program service revenue$26K · 3%
Contributions & grants101%$754K
Investment income4%$29K
Program service revenue3%$26K
— government grantsLn 1e$12K
Total revenueLn 12$749K

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $903K · Operating expenses (Pt IX) $687K · Less non-cash grants $40K · Cash operating expenses/yr $647K
16.7 months
Where the money goes
Program services
Program services $516K · Total expenses $687K
75%
Management & General
Management & general $104K · Total expenses $687K
15%
Fundraising
Fundraising $67K · Total expenses $687K
10%
Cost to raise $1
Fundraising expense (3-yr avg) $77K · Solicited contributions (3-yr avg) $696K
$0.11 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $754K · Total revenue $749K
101%
Government reliance
Government grants $12K · Total revenue $749K
2%
Earned-income share
Program service revenue $26K · Total revenue $749K
3%
Investment reliance
Investment income $29K · Total revenue $749K
+4%
Program self-sufficiency
Program service revenue $26K · Total expenses $687K
4%
Growth & trend
Revenue growth (YoY)
This year $749K · Prior year $686K
+9%
Revenue CAGR
FY2020 $905K · FY2024 $749K
-5%
Net-asset trend (YoY)
End of year $992K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $749K · Expenses $687K
+8%
Liabilities-to-Assets
Total liabilities — · Total assets $1.0M
—
Net-asset ratio
Net assets $992K · Total assets $1.0M
96%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $1.0M
0%
People & payroll
Highest Reported Total Compensation
Individual Kerry Ahern · Reported title President · Highest reported compensation $0 · Total expenses $687K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $340K · Total expenses $687K
50%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 75%——
Overhead ratio 15%——
Fundraising cost ratio 9%——
Revenue growth 9%——
Investment management fee ratio 0%——
Legal fee ratio 0%——
Accounting fee ratio 0.8%——
Fundraising fee ratio 0%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Michelle Dimuro’s $109K as Executive Dir. is at the 92nd percentile of top reported officer pay among 2216 $100K–1M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021
Michelle Dimuro$109,298$99,410$94,252$90,176

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Veterans Heritage Project executive salaries →

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Governance & Policies

Part VI
  • 9Voting board membersPt VI · Ln 1a
  • 9Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Honors veterans and preserves their legacies through student programs.

Provided by the organization

This section is blank until Veterans Heritage Project claims this page.

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Mission & Programs · Part III

Where the work happens

3 program services account for $498K of program spending, described in the organization's own filed words · FY2024.
01

Our program is conducted through school chapters (clubs.) Guided by a trained teacher who volunteers to serve as a Chapter Advisor, students complete our curriculum and program activities over the course of a school year.

$372Kprogram expense
02

Imprints of Honor awards eight scholarships to high school seniors who have been active in a school Chapter for a minimum of two years. Students must have a teacher recommendation and compete via essay contests, where they describe how veterans have impacted their character and encouraged their future, or how they have been of service to…

$85Kprogram expense
03

Students have the option to learn Adobe InDesign and Photoshop through our technology platform and in-person workshops, to layout the veteran stories for publication in our hardbound book titled Since You Asked.

$41Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 9 funders →
Grants paid · 4 grants · $218K · 2020–2024
Unitemized GrantFY2024$85,304
Unitemized GrantFY2023$64,014
Unitemized GrantFY2022$57,246
Unitemized GrantFY2020$10,959

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2025 Latest Viewing $749K$687K+9% 990 PDF
FY2024 $686K$691K+4% 990 PDF
FY2023 $657K$628K+26% 990 PDF
FY2022 $521K$438K-42% 990 PDF
FY2021 $905K$372K 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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