Alcovets

Public charity (501(c)(3)) Graham, NC EIN 82-5304445 NTEE B11
Revenue
$179K
▼ -13%
FY2024 · Pt VIII · Ln 12
Expenses
$140K
▼ -13%
FY2024 · Pt IX · Ln 25
Net assets
$319K
FY2024 · Pt X · Ln 32
To programs
41%
FY2024 · Pt IX · col B
Revenue & expenses by yearFY2021–FY2024
Revenue
$179K
FY2024▼ -13%
Expenses
$140K
FY2024▼ -13%

Raises funds to help local veterans facing hardship.

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Tax-deductible?
Yes
Per the IRS master file.
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Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
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Filing up to date?
Filed FY2024 (typical filing lag)
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Foundation funders?
3 funders, incl. Petty Family Foundation INC
$16K in the latest grant year.
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Spent on programs?
41% to programs
Form 990 Part IX, latest filing.
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Size and trend
$100K–1M
↓ -13% vs prior year
Details →

Form 990 for the fiscal year ending December 2024 (IRS tax year 2024).


Raises funds to help local veterans facing hardship.

Type
Public charity (501(c)(3)) · Education
Location
Graham, NC
Website
www.alcovets.org
Filings
4 on file (2021–2024)
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Where the money goes · FY2024
Where spending went · Part IX cols B–D
Program services $0.41 Management & general $0.08 Fundraising $0.51
Program efficiency
41%
of spending reaches programs▲ +71% vs prior filing year
Operating runway
16.6mo
months of highly liquid reserves at operating expense rate▲ +31% vs prior filing year
Surplus margin
+22%
revenue over expenses, this year+0.4% vs prior filing year

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Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$320K
FY2024▲ +13%
Total liabilities
$590
FY2024▼ -78%
Revenue less expensesPt I · Ln 19$39K
Total assetsPt X · Ln 16$320K
Program-expense ratioPt IX · col B41%
Voting members of governing bodyPt I · Ln 311
Independent voting membersPt I · Ln 410

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CAlcovets
EINHdr · item D82-5304445
Principal addressHdr · item CGraham, NC
WebsiteHdr · item Jwww.alcovets.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B11)
Ruling yearIRS BMFFeb 2019

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a11
Independent voting membersPt VI · Ln 1b10
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
$0Pt VII · Sec A
Vice Chairma
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

1 program service account for $57K of program spending, described in the organization's own filed words · FY2024.
01

Providing outreach and hosting events to educate the public on the needs of veterans and to honor the veterans of alamance county. We strive to fight for those who fought for us.

$57Kprogram expense

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Statement of Revenue

Part VIII
Other revenue$121K · 68%
Contributions & grants$58K · 32%
Other revenue68%$121K
Contributions & grants32%$58K
Investment income$48
Total revenueLn 12$179K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.41 Management & general $0.08 Fundraising $0.51
Program services41%$57K
Management & general8%$11K
Fundraising51%$72K
Total functional expensesLn 25$140K

Balance Sheet

Part X · end of year
CashLn 1$193K
Total assetsLn 16$320K
Total liabilitiesLn 26$590
Total net assetsLn 32$319K
Months of cash on handcomputed16.6

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $193K · Operating expenses/yr $140K
16.6 months
Where the money goes
Program services
Program services $57K · Total expenses $140K
41%
Management & General
Management & general $11K · Total expenses $140K
8%
Fundraising
Fundraising $72K · Total expenses $140K
51%
Cost to raise $1
Fundraising expense (3-yr avg) $83K · Solicited contributions (3-yr avg) $52K
$1.61 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $58K · Total revenue $179K
32%
Government reliance
Government grants — · Total revenue $179K
—
Earned-income share
Program service revenue $0 · Total revenue $179K
0%
Investment reliance
Investment income $48 · Total revenue $179K
+0.03%
Program self-sufficiency
Program service revenue $0 · Total expenses $140K
0%
Growth & trend
Revenue growth (YoY)
This year $179K · Prior year $206K
-13%
Net-asset trend (YoY)
End of year $319K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $179K · Expenses $140K
+22%
Liabilities-to-Assets
Total liabilities — · Total assets $320K
—
Net-asset ratio
Net assets $319K · Total assets $320K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $320K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual William G Talley · Reported title CHAIRMAN · Highest reported compensation $0 · Total expenses $140K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $140K
—
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 41%——
Overhead ratio 8%——
Fundraising cost ratio 123%——
Revenue growth -13%——

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 · FY2024
GE FoundationFY2024$1K
Total grants receivedfrom 3 funders$16K
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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)$179K revenue · viewing · ⤓ 990 PDF
FY2023$206K revenue · ⤓ 990 PDF
FY2022$223K revenue · ⤓ 990 PDF
FY2021$129K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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