Department of Texas Veterans of Foreign Wars Foundation

Analysis

Department of Texas Veterans of Foreign Wars Foundation is a registered charity in United States, based in Austin, TX. It received its IRS tax-exemption ruling in September 2002, 24 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 June 2023, Department of Texas Veterans of Foreign Wars Foundation reported income of $361k and spending of $563k, spending 156% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.1m to $361k (-67%), an average of -24% a year. The sharpest change came in the year to June 2022, when income dropped by 69%. Over the whole period it spent 106% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Department of Texas Veterans of Foreign Wars Foundation sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 69th percentile within TX. Charities of a similar size with the same main cause include Flywheel Social Enterprise Hub ($361k), Avenues for Autism ($361k) and San Diego Navy League Foundation Inc ($360k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 84% of the total. Compensation of current officers, directors and key employees was $180k (32% of expenses). Other salaries and wages came to $58k. At year end it held assets of $2.0m against liabilities of $17k, net assets of $2.0m. It reported 4 employees.