Veterans Education & Research Assoc of Northern New England Inc

Analysis

Veterans Education & Research Assoc of Northern New England Inc is a registered charity in United States, based in White Riv JCT, VT. It received its IRS tax-exemption ruling in June 1991, 35 years ago. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Veterans Education & Research Assoc of Northern New England Inc reported income of $3.4m and spending of $3.7m, spending 108% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.3m to $3.4m (+50%), an average of +11% a year. The sharpest change came in the year to September 2020, when income rose by 60%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Veterans Education & Research Assoc of Northern New England Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within VT. Charities of a similar size with the same main cause include Colquitt Regional Health Inc ($3.4m), Wave Aquatics ($3.4m) and Hoover Presidential Foundation ($3.4m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.2% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $155k (4.2% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $3.4m against liabilities of $491k, net assets of $2.9m. It reported 39 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.