Veterans in Need Foundation Inc

Analysis

Veterans in Need Foundation Inc is a registered charity in United States, based in Margate, FL. It received its IRS tax-exemption ruling in October 2009, 17 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, Veterans in Need Foundation Inc reported income of $156k and spending of $163k, spending 105% of its income. Across the 3 years on record, from December 2020 to December 2023, income fell from $739k to $156k (-79%), an average of -54% a year. The sharpest change came in the year to December 2023, when income dropped by 69%. Over the whole period it spent 111% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Veterans in Need Foundation Inc sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 52nd percentile within FL. Charities of a similar size with the same main cause include Shekinah Glory International Inc ($156k), Alaskas Healing Hearts ($156k) and The Emmaus Calling Inc ($156k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $8,100 (5.0% of expenses). Other salaries and wages came to $16k. At year end it held assets of $26k against liabilities of $510k, net assets of -$484k. It reported 2 employees.