Operation Honor Corp EIN 47-3155945 Form 990 (PDF) Claim this org

Operation Honor Corp FY2022 filing

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Helps Veterans and their families live better lives. For fiscal year 2022 it reported $289K in revenue, $138K in expenses, and $474K in net assets.Pt I

Type
Public charity (501(c)(3)) · Employment
Location
Dry Ridge, KY
Filings
5 on file (2020–2022)
Revenue
$289KFY2022
Expenses
$138K
Net assets
$474K
People
2
Filings
5
Updates
0
More identity details & actions ⌄
EIN  47-3155945 Public charity (501(c)(3)) Dry Ridge, KY
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Helps Veterans and their families live better lives.
Leadership
Joseph Montgomery · President · $30K
Money in and out
$289K revenue, $138K expenses
Bottom line
30.1mo operating runway
Where the money goes · FY2022
Total revenue
$289K
Pt VIII · Ln 12
Total expenses
$138K
Pt IX · Ln 25
Net assets
$474K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $152K
Where spending went · Part IX cols B–D
Program services $0.39 Management & general $0.59 Fundraising $0.02
Operating runway
30.1mo
months of highly liquid reserves at operating expense rate
Surplus margin
+52%
revenue over expenses, this year
Donor-funded
48%
of revenue is gifts & grants

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$289K
FY2022▼ -26%
Expenses
$138K
FY2022▲ +129%
Total assets
$778K
FY2022▲ +64%
Total liabilities
$18K
FY2022▲ ×17
Total revenue
$289K
Pt VIII · Ln 12
Total expenses
$138K
Pt IX · Ln 25
Net assets
$474K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$152K
Total assetsPt X · Ln 16$778K
Program-expense ratioPt IX · col B39%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 45

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item COperation Honor Corp
EINHdr · item D47-3155945
Principal addressHdr · item CDry Ridge, KY
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MKY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEmployment (J12)
Ruling yearIRS BMFFeb 2015

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1b5
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$30,000Pt VII · Sec A
No Wages
$0Pt VII · Sec A

Joseph Montgomery’s $30K as President is at the 39th percentile of top reported officer pay among 1213 $100K–1M employment 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.

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Mission & Programs · Part III

Where the work happens

2 program services account for $50K of program spending, described in the organization's own filed words · FY2022.
01

Sales of patriotic items produced by veterans

$25Kprogram expense
02

Sales of patriotic items produced by veterans

$25Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$140K · 48%
Other revenue$120K · 42%
Program service revenue$29K · 10%
Contributions & grants48%$140K
Other revenue42%$120K
Program service revenue10%$29K
— government grantsLn 1e$125K
Total revenueLn 12$289K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.39 Management & general $0.59 Fundraising $0.02
Program services39%$53K
Management & general59%$81K
Fundraising2%$3K
Total functional expensesLn 25$138K

Balance Sheet

Part X · end of year
CashLn 1$346K
Total assetsLn 16$778K
Total liabilitiesLn 26$18K
Total net assetsLn 32$474K
Months of cash on handcomputed30.1

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $346K · Operating expenses/yr $138K
30.1 months
Where the money goes
Program services
Program services $25K · Total expenses $57K
not reported
Management & General
Management & general $33K · Total expenses $57K
not reported
Fundraising
Fundraising $0 · Total expenses $57K
not reported
Cost to raise $1
Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $188K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $140K · Total revenue $289K
48%
Government reliance
Government grants $125K · Total revenue $289K
43%
Earned-income share
Program service revenue $29K · Total revenue $289K
10%
Investment reliance
Investment income $0 · Total revenue $289K
0%
Program self-sufficiency
Program service revenue $29K · Total expenses $138K
21%
Growth & trend
Revenue growth (YoY)
This year $289K · Prior year $389K
-26%
Net-asset trend (YoY)
End of year $474K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $289K · Expenses $138K
+52%
Liabilities-to-Assets
Total liabilities — · Total assets $778K
Net-asset ratio
Net assets $474K · Total assets $778K
61%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $778K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Joseph Montgomery · Reported title PRESIDENT · Highest reported compensation $30K · Total expenses $138K
22%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $30K · Total expenses $138K
not reported
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 39%
Overhead ratio 59%
Fundraising cost ratio 2%
Revenue growth -26%
Accounting fee ratio 2%

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.

Grants

Schedule I · funders on record
Grants received · FY2021
Total grants receivedfrom 2 funders$173K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$282K revenue · ⤓ 990 PDF
FY2023$246K revenue · ⤓ 990 PDF
FY2022$289K revenue · viewing · ⤓ 990 PDF
FY2021$389K revenue · ⤓ 990 PDF
FY2020$60K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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