Quilts of Valor Foundation

Analysis

Quilts of Valor Foundation is a registered charity in United States, based in Winterset, IA. It received its IRS tax-exemption ruling in August 2005, 21 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Quilts of Valor Foundation reported income of $1.7m and spending of $1.4m, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.7m (+50%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 23%. Over the whole period it spent 86% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Quilts of Valor Foundation sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within IA. Charities of a similar size with the same main cause include The Chapman House ($1.7m), Progressive Center for Independent Living Inc ($1.7m) and Spartan Kid Care Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 2.6% of the total. Compensation of current officers, directors and key employees was $56k (4.0% of expenses). Other salaries and wages came to $149k. At year end it held assets of $1.7m against liabilities of $41k, net assets of $1.6m. It reported 9 employees.