Heroes INC FY2024 filing

Tax-deductible

Chevy Chase, MD501(c)(3)Crime & LegalEIN 52-6057916Revenue $2.8M in FY2024

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.
$299K 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

FY2024 · 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
$299K
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
4 mo
of spending, in cash
Looks good: 4.3 months of spending in cash; 3 or more.
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
$151K
0.5% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 17 voting members
Looks good: 16 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.8M
+160% vs prior year
Spent
$1.3M
To programs
73%
Net assets
$30.6M
By yearFY2020–FY2025
Revenue
$2.8M
FY2024▲ +160%
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
FY2024▲ +4%
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
$30.6M
FY2024▲ +15%
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 FY2024 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% · $962K Management & general 26% · $344K Fundraising 1% · $10K

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

17 people listed on the 990; $299K paid to officers and key staff.

Part VII, Section A · reportable compensation
$298,670Pt VII · Sec A
Board Chair
$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 · $962K · in their own filed words · FY2024
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.

$549Kprogram expense
02

Scholarship Program

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

$413Kprogram 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 FY2024 990, line by line.

1The main four
Money inPt VIII
$2.8M
Ln 12
Investment incomeLn 3$1.9M
Gifts and grantsLn 1h$939K
Money outPt IX
$1.3M
Ln 25
Programscol B$962K
Managementcol C$344K
Fundraisingcol D$10K
Owns and owesPt X
$30.6M
net assets · Ln 32
Cash and savingsLn 1–2$467K
Total assetsLn 16$30.7M
LiabilitiesLn 26$151K
PeoplePt VI, VII
17
listed · VII A
PaidVII A1
Voting boardVI 1a17
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$939K
Noncash giftsLn 1g$21K
Fundraising eventsLn 1c$212K
Investment incomeLn 3$1.9M
Gains on assetsLn 7$1.4M
Total revenueLn 12$2.8M
Assets in detailPt X, end of year
CashLn 1$467K
Cash and savings togetherLn 1–2$467K
InvestmentsLn 11–13$30.1M
Land, buildings, equipmentLn 10c$16K
Other assetsLn 15$143K
Total assetsLn 16$30.7M
LiabilitiesLn 26$151K
Net assetsLn 32$30.6M
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 FY24End FY24
Cash and savingsLn 1–2$264K$467K
InvestmentsLn 11–13$26.4M$30.1M
Land, buildings, equipmentLn 10c$12K$16K
Total assetsLn 16$27.0M$30.7M
LiabilitiesLn 26$320K$151K
Net assetsLn 32$26.7M$30.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$322K$322K
Pay of current officers, directors and key staffLn 5$317K$266K$47K$3K
Other salaries and wagesLn 7$54K$46K$8K$544
Pension plan contributionsLn 8$2K$1K$252$17
Payroll taxesLn 10$21K$17K$3K$208
Accounting feesLn 11c$13K$13K
Investment management feesLn 11f$123K$123K
Other fees for servicesLn 11g$9K$7K$2K
Office expensesLn 13$54K$45K$8K$535
Information technologyLn 14$89K$14K$74K$171
OccupancyLn 16$204K$172K$31K$2K
Conferences, conventions and meetingsLn 19$2K$2K$362$24
Depreciation, depletion and amortizationLn 22$6K$6K
InsuranceLn 23$19K$16K$3K$188
Other expenses (24a–d)Ln 24$83K$61K$20K$1K
Total functional expensesLn 25$1.3M$962K$344K$10K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.4M$1.4M$1.0M$32.9M 990 PDF
FY2024 Viewing $2.8M$1.3M$1.5M$30.6M 990 PDF
FY2023 $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 FY2024 990 (6 parts)
Part I · Summary $2,778,807 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $859,838$938,954
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $281,889$1,897,721
I-11 Other revenuePrior year −$73,287−$57,868
I-12 Total revenuePrior year $1,068,440$2,778,807
I-13 Grants and similar amounts paidPrior year $230,122$321,872
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $376,774$393,314
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $657,182$601,149
I-18 Total expensesPrior year $1,264,078$1,316,335
I-19 Revenue less expensesPrior year −$195,638$1,462,472
Part VI · Governance 16 of 17 board members independent, 1 to look at
VI-1a Voting members of the governing body17
VI-1b Independent voting members16
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 $2,778,807 across 10 lines filed
Lines not itemized here account for $20,713 of total revenue; see the IRS return.
VIII-1a Federated campaigns$10,619
VIII-1b Membership dues$24,000
VIII-1c Fundraising events$212,302
VIII-1f All other contributions, gifts and grants$692,033
VIII-1g Noncash contributions (included above)$21,409
VIII-1h Total contributions, gifts and grants$938,954
VIII-3 Investment incomeExcluded from tax $537,272$537,272
VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,360,449$1,360,449
VIII-8 Net income from fundraising eventsExcluded from tax −$78,581−$78,581
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,839,853$2,778,807
Part IX · Statement of functional expenses $1,316,335 across 15 lines filed
IX-2 Grants to domestic individualsPrograms $321,872$321,872
IX-5 Pay of current officers, directors and key staffPrograms $265,925 · Management $47,487 · Fundraising $3,164$316,576
IX-7 Other salaries and wagesPrograms $45,566 · Management $8,136 · Fundraising $544$54,246
IX-8 Pension plan contributionsPrograms $1,411 · Management $252 · Fundraising $17$1,680
IX-10 Payroll taxesPrograms $17,482 · Management $3,122 · Fundraising $208$20,812
IX-11c Accounting feesManagement $13,173$13,173
IX-11f Investment management feesManagement $122,691$122,691
IX-11g Other fees for servicesManagement $6,933 · Fundraising $2,162$9,095
IX-13 Office expensesPrograms $45,002 · Management $8,041 · Fundraising $535$53,578
IX-14 Information technologyPrograms $14,380 · Management $73,954 · Fundraising $171$88,505
IX-16 OccupancyPrograms $171,606 · Management $30,644 · Fundraising $2,043$204,293
IX-19 Conferences, conventions and meetingsPrograms $2,029 · Management $362 · Fundraising $24$2,415
IX-22 Depreciation, depletion and amortizationManagement $5,966$5,966
IX-23 InsurancePrograms $15,762 · Management $2,814 · Fundraising $188$18,764
IX-24 Other expenses (24a–d)Programs $61,371 · Management $19,991 · Fundraising $1,307$82,669
IX-25 Total functional expensesPrograms $962,406 · Management $343,566 · Fundraising $10,363$1,316,335
Part X · Balance sheet $30,736,136 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $264,171$467,469
X-3 Pledges and grants receivableStart of year $4,900$10,000
X-9 Prepaid expenses and deferred chargesStart of year $5,529$16,045
X-10c Land, buildings and equipment, netStart of year $11,932$15,866
X-11 Publicly traded securitiesStart of year $26,445,616$30,083,882
X-15 Other assetsStart of year $268,896$142,874
X-16 Total assetsStart of year $27,001,044$30,736,136
X-17 Accounts payable and accrued expensesStart of year $16,152$26,682
X-25 Other liabilitiesStart of year $303,613$123,875
X-26 Total liabilitiesStart of year $319,765$150,557
X-27 Net assets without donor restrictionsStart of year $26,676,379$30,575,579
X-28 Net assets with donor restrictionsStart of year $4,900$10,000
X-32 Total net assets or fund balancesStart of year $26,681,279$30,585,579
X-33 Total liabilities and net assetsStart of year $27,001,044$30,736,136
Part XI · Reconciliation of net assets $30,585,579 net assets at year end
XI-1 Total revenue$2,778,807
XI-2 Total expenses$1,316,335
XI-3 Revenue less expenses$1,462,472
XI-4 Net assets at start of year$26,681,279
XI-5 Net unrealized gains (losses) on investments$2,441,828
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$30,585,579

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

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