Guitars for Vets

Analysis

Guitars for Vets is a registered charity in United States, based in Brookfield, WI. It received its IRS tax-exemption ruling in August 2008, 18 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable 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 December 2023, Guitars for Vets reported income of $1.2m and spending of $1.1m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $819k to $1.2m (+46%), an average of +9.9% a year. The sharpest change came in the year to December 2023, when income rose by 30%. Over the whole period it spent 76% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Guitars for Vets sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within WI. Charities of a similar size with the same main cause include Palmetto Regional Volley Ball Association Inc ($1.2m), John M Eagleson Jr Institute ($1.2m) and Urban Crisis Council Day Care ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% of the total. Compensation of current officers, directors and key employees was $160k (14% of expenses). Other salaries and wages came to $230k. At year end it held assets of $1.6m against liabilities of $34k, net assets of $1.6m. It reported 11 employees.