No Greater Sacrifice Foundation

“ByLaws and Policies were updated during 2024. Notable changes to the ByLaws included: Board member terms shall automatically renew, consistent language/terms throughout, inclusion of a virtual option for Board meetings and also no less than three per year, committee structure was addressed, appointments by Chairperson, and Board member duties were better defined. Notable change to the Policies were: whistleblower policy was renamed Policy on Reporting Concerns and terms were updated for consistency.”

“Our external accountant prepares the filing. The 990 is reviewed by the Executive Director, Director of Operations, the Chairman, the Treasurer, and the General Counsel prior to filing. A copy of the 990 is then given to the entire Board of Directors. The final copy is distributed to the entire Board of Directors and uploaded to the website after filing.”

“It is the duty of the interested person to disclose the existence of a potential conflict of interest. After disclosure, the remaining governing board will determine if a conflict exists. In the event of a conflict of interest, reasonable efforts will be made to obtain a more advantageous transaction or arrangement which will not give rise to a conflict of interest.”

“Comparability data is used based off other non-profit foundations in our space. Chairman, General Counsel, and Finance Committee must determine and approve all compensation.”

“NGS makes its governing documents, conflict of interest policy, financial statements, and other policies available to the public upon request. NGS makes its audited financial statements and Form 990 available to the public on its website.”

“In accordance with GAAP accounting, the net present value of the 2024 scholarships awarded must be determined. The net present value is based on the scholar's age and discount rate, and is adjusted annually to reflect changes in various factors, most notably the scholar's age. Typically the previous year's funding determines the number of new scholarship commitments. NGS is proud to have been able to select 61 new scholars and make commitments to fund their post-high school education. NGS scholarships deliver assistance to reduce the unmet financial costs of higher education, which includes: in-state tuition, room and board, special equipment, books, or other expenses deemed necessary. NGS provides scholars with customized mentorship and coaching and funding to achieve their full education potential and works to ensure scholars earn their undergraduate degree debt-free.”

“No Greater Sacrifice Foundation (NGS) is a District of Columbia not-for-profit corporation that is recognized as an organization qualified for tax exemption under section 501(c)(3) of the Internal Revenue Code. NGS was officially incorporated on January 7, 2008, to provide college funding to children of those who have fallen in service to the nation. Together with other veterans support organizations, NGS joined the effort to secure passage of the post 9/11 GI Bill which provides full GI Bill educational benefits for the children of Service members who die in the line of duty after September 10, 2001. With the passage of this legislation, NGS did not close its doors. Instead, NGS opened its doors wider to include helping the families of our wounded Service members. NGS is dedicated to the children of our nation's fallen and wounded Service members by delivering scholarships and resources to improve their quality of life through the pursuit of higher education. NGS accomplishes its mission by mentoring and coaching and funding NGS recipients with higher education tuition, room, board, and books, as well as sister charities that are working on behalf of this noble cause. NGS's vision is to honor the sacrifices of our Service members by investing in their children's capacity for greatness through education.”

“Reversal of prior year grants- Scholarships released from obligation 456,329.”

“NGS's Finance Committee is responsible for oversight of the audit, including selection of the independent auditor. The process is consistent with prior years.”