Heroes INC FY2023 filing

Tax-deductible

Chevy Chase, MD501(c)(3)Crime & LegalEIN 52-6057916Revenue $1.1M in FY2023

On file with the IRSheroes.org5404 Wisconsin Avenue, 20815-3573 · Chevy Chase, MDTax-exempt since Jan 1965Publicly supported charity — 170(b)(1)(A)(vi)

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Assisting officers' families within 24 hours of the tragic loss & continuing indefinitely.

501(c)(3) charity; gifts are tax-deductible.
73¢ of each $1 spent went to programs.
$294K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
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
3 of 6
filings with a surplus
Average surplus $151K a year · 10% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$294K
to officers and key staff · 23% of spending
Worth a look: pay to officers and key staff is 23% of spending; over 20%.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$320K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 14 voting members
Looks good: 13 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.1M
+176% vs prior year
Spent
$1.3M
To programs
73%
Net assets
$26.7M
By yearFY2020–FY2025
Revenue
$1.1M
FY2023▲ +176%
Tap a bar for its year
Revenue by fiscal year
FY2020$728K
FY2021$2.0M
FY2022$388K
FY2023$1.1M
FY2024$2.8M
FY2025$2.4M
Expenses
$1.3M
FY2023▲ +9%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.7M
FY2021$1.6M
FY2022$1.2M
FY2023$1.3M
FY2024$1.3M
FY2025$1.4M
Net assets
$26.7M
FY2023▲ +21%
Tap a bar for its year
Net assets by fiscal year
FY2020$23.3M
FY2021$26.8M
FY2022$22.1M
FY2023$26.7M
FY2024$30.6M
FY2025$32.9M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1965.

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

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $921K Management & general 26% · $333K Fundraising 1% · $11K

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

14 people listed on the 990; $294K paid to officers and key staff.

Part VII, Section A · reportable compensation
President
$293,670Pt VII · Sec A
Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
General Counsel
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

John R Nichols’s $299K as President is at the 97th percentile of top reported officer pay among 1147 $1–10M crime & legal 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 · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
John R Nichols$298,670$298,670——$292,610$300,129
John Nichols——$293,670$293,670——
Heather L Pace$104,340—————

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.

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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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides immediate and ongoing support to law enforcement families after a tragedy.

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Provided by the organization

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2 programs · $921K · in their own filed words · FY2023
01

Widows & Family Benefits Program

Under the Widows & Family Benefit Program, HEROES provides financial assistance to the immediate family members of a deceased law enforcement officer and firefighters in the greater Washington area.

$489Kprogram expense
02

Scholarship Program

Under the Scholarship program, HEROES provides college scholarships to the children of deceased law enforcement officers and firefighters.

$432Kprogram expense

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 · FY2025
Total grants receivedfrom 1 funder$10K
Grants paid · 19 grants · $2.8M · 2020–2025
Unitemized GrantFY2025$209,344
Unitemized GrantFY2025$116,781
Unitemized GrantFY2024$177,506
Unitemized GrantFY2024$144,366
Unitemized GrantFY2023$151,499
Unitemized GrantFY2023$37,523
Unitemized GrantFY2023$31,100
Unitemized GrantFY2023$10,000
Unitemized GrantFY2022$156,872
Unitemized GrantFY2022$46,060
Unitemized GrantFY2022$35,100
Unitemized GrantFY2022$35,000
Unitemized GrantFY2022$20,000
Unitemized GrantFY2021$494,985
Unitemized GrantFY2021$180,367
Unitemized GrantFY2021$48,000
Unitemized GrantFY2020$453,401
Unitemized GrantFY2020$389,293
See all 19 grants →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$1.1M
Ln 12
Gifts and grantsLn 1h$860K
Investment incomeLn 3$282K
Money outPt IX
$1.3M
Ln 25
Programscol B$921K
Managementcol C$333K
Fundraisingcol D$11K
Owns and owesPt X
$26.7M
net assets · Ln 32
Cash and savingsLn 1–2$264K
Total assetsLn 16$27.0M
LiabilitiesLn 26$320K
PeoplePt VI, VII
14
listed · VII A
PaidVII A1
Voting boardVI 1a14
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$860K
Noncash giftsLn 1g$25K
Fundraising eventsLn 1c$293K
Investment incomeLn 3$282K
Gains on assetsLn 7−$140K
Total revenueLn 12$1.1M
Assets in detailPt X, end of year
CashLn 1$264K
Cash and savings togetherLn 1–2$264K
InvestmentsLn 11–13$26.4M
Land, buildings, equipmentLn 10c$12K
Other assetsLn 15$269K
Total assetsLn 16$27.0M
LiabilitiesLn 26$320K
Net assetsLn 32$26.7M
OperationsPt I, VI
EmployeesI 52
VolunteersI 650
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$279K$264K
InvestmentsLn 11–13$21.7M$26.4M
Land, buildings, equipmentLn 10c$18K$12K
Total assetsLn 16$22.6M$27.0M
LiabilitiesLn 26$501K$320K
Net assetsLn 32$22.1M$26.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$230K$230K
Pay of current officers, directors and key staffLn 5$305K$256K$46K$3K
Other salaries and wagesLn 7$50K$42K$8K$435
Pension plan contributionsLn 8$2K$1K$248$14
Payroll taxesLn 10$20K$17K$3K$202
Accounting feesLn 11c$3K$3K
Investment management feesLn 11f$102K$102K
Other fees for servicesLn 11g$11K$11K$844
Office expensesLn 13$41K$34K$6K$413
Information technologyLn 14$90K$16K$74K$187
OccupancyLn 16$188K$158K$28K$2K
Conferences, conventions and meetingsLn 19$6K$5K$848$57
Depreciation, depletion and amortizationLn 22$6K$5K$893$60
InsuranceLn 23$15K$13K$2K$150
Other expenses (24a–d)Ln 24$195K$143K$49K$3K
Total functional expensesLn 25$1.3M$921K$333K$11K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.4M$1.4M$1.0M$32.9M 990 PDF
FY2024 $2.8M$1.3M$1.5M$30.6M 990 PDF
FY2023 Viewing $1.1M$1.3M−$196K$26.7M 990 PDF
FY2022 $388K$1.2M−$775K$22.1M 990 PDF
FY2021 $2.0M$1.6M$382K$26.8M 990 PDF
FY2020 $728K$1.7M−$994K$23.3M 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 FY2023 990 (6 parts)
Part I · Summary $1,068,440 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $873,385$859,838
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year −$420,842$281,889
I-11 Other revenuePrior year −$64,902−$73,287
I-12 Total revenuePrior year $387,641$1,068,440
I-13 Grants and similar amounts paidPrior year $293,032$230,122
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $415,907$376,774
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $453,805$657,182
I-18 Total expensesPrior year $1,162,744$1,264,078
I-19 Revenue less expensesPrior year −$775,103−$195,638
Part VI · Governance 13 of 14 board members independent, 1 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members13
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,068,440 across 10 lines filed
Lines not itemized here account for $26,069 of total revenue; see the IRS return.
VIII-1a Federated campaigns$13,103
VIII-1b Membership dues$23,500
VIII-1c Fundraising events$293,078
VIII-1f All other contributions, gifts and grants$530,157
VIII-1g Noncash contributions (included above)$25,362
VIII-1h Total contributions, gifts and grants$859,838
VIII-3 Investment incomeExcluded from tax $421,522$421,522
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$139,633−$139,633
VIII-8 Net income from fundraising eventsExcluded from tax −$99,356−$99,356
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $208,602$1,068,440
Part IX · Statement of functional expenses $1,264,078 across 15 lines filed
IX-2 Grants to domestic individualsPrograms $230,122$230,122
IX-5 Pay of current officers, directors and key staffPrograms $256,095 · Management $45,689 · Fundraising $3,116$304,900
IX-7 Other salaries and wagesPrograms $42,027 · Management $7,546 · Fundraising $435$50,008
IX-8 Pension plan contributionsPrograms $1,383 · Management $248 · Fundraising $14$1,645
IX-10 Payroll taxesPrograms $16,986 · Management $3,033 · Fundraising $202$20,221
IX-11c Accounting feesManagement $2,665$2,665
IX-11f Investment management feesManagement $101,600$101,600
IX-11g Other fees for servicesManagement $10,552 · Fundraising $844$11,396
IX-13 Office expensesPrograms $34,348 · Management $6,221 · Fundraising $413$40,982
IX-14 Information technologyPrograms $15,667 · Management $74,162 · Fundraising $187$90,016
IX-16 OccupancyPrograms $158,269 · Management $28,263 · Fundraising $1,884$188,416
IX-19 Conferences, conventions and meetingsPrograms $4,749 · Management $848 · Fundraising $57$5,654
IX-22 Depreciation, depletion and amortizationPrograms $5,012 · Management $893 · Fundraising $60$5,965
IX-23 InsurancePrograms $12,625 · Management $2,255 · Fundraising $150$15,030
IX-24 Other expenses (24a–d)Programs $143,453 · Management $48,827 · Fundraising $3,178$195,458
IX-25 Total functional expensesPrograms $920,736 · Management $332,802 · Fundraising $10,540$1,264,078
Part X · Balance sheet $27,001,044 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $278,838$264,171
X-3 Pledges and grants receivableStart of year $87,101$4,900
X-9 Prepaid expenses and deferred chargesStart of year $22,085$5,529
X-10c Land, buildings and equipment, netStart of year $17,897$11,932
X-11 Publicly traded securitiesStart of year $21,725,035$26,445,616
X-15 Other assetsStart of year $426,991$268,896
X-16 Total assetsStart of year $22,557,947$27,001,044
X-17 Accounts payable and accrued expensesStart of year $24,479$16,152
X-25 Other liabilitiesStart of year $476,482$303,613
X-26 Total liabilitiesStart of year $500,961$319,765
X-27 Net assets without donor restrictionsStart of year $21,969,885$26,676,379
X-28 Net assets with donor restrictionsStart of year $87,101$4,900
X-32 Total net assets or fund balancesStart of year $22,056,986$26,681,279
X-33 Total liabilities and net assetsStart of year $22,557,947$27,001,044
Part XI · Reconciliation of net assets $26,681,279 net assets at year end
XI-1 Total revenue$1,068,440
XI-2 Total expenses$1,264,078
XI-3 Revenue less expenses−$195,638
XI-4 Net assets at start of year$22,056,986
XI-5 Net unrealized gains (losses) on investments$4,819,931
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$26,681,279

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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