Civic Intelligence

The War Memorial Foundation

990 • Fiscal year 2014 • EIN 26-2187703

Oct 01, 2013 to Sep 30, 2014 • Filed on May 18, 2015

600 North Regional Road27409

(603) 305-0221

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

19th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2014 filings • NTEE A • $500k-$1M nonprofits • Source year 2014

Liabilities / Revenue

19th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2014 filings • NTEE A • $500k-$1M nonprofits • Source year 2014

Net Margin

2nd percentile

-99%

Higher net margin than 2% of similar nonprofits.

2014 filings • NTEE A • $500k-$1M nonprofits • Source year 2014

Top Officer Pay

45th percentile

$0

Higher top officer pay than 45% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • NTEE A • $500k-$1M nonprofits • Source year 2014

Asset Growth

1st percentile

-96%

Faster asset growth than 1% of similar nonprofits.

2014 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Down

$69,345

Down $1,558,865 (-96%) from 2013

Net Assets

Down

$69,345

Down $928,790 (-93%) from 2013

Liabilities

Down

$0

Down $630,075 (-100%) from 2013

Revenue

$942,441

No earlier filing loaded for comparison.

Expenses

Up

$1,871,231

Up $1,151,832 (+160%) from 2013

Net Income

-$928,790

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2012: $479,009Liabilities 2012: $7,517Net Assets 2012: $471,4922012Assets 2013: $1,628,210Liabilities 2013: $630,075Net Assets 2013: $998,1352013Assets 2014: $69,345Liabilities 2014: $0Net Assets 2014: $69,3452014Assets 2015: $91,351Liabilities 2015: $0Net Assets 2015: $91,3512015Assets 2016: $74,963Liabilities 2016: $0Net Assets 2016: $74,9632016Assets 2017: $85,242Liabilities 2017: $0Net Assets 2017: $85,2422017Assets 2018: $51,737Liabilities 2018: $0Net Assets 2018: $51,7372018

Highlighted filing

2014

Assets$69,345
Liabilities$0
Net Assets$69,345

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MExpenses 2012: $91,7522012Expenses 2013: $719,3992013Revenue 2014: $942,441Expenses 2014: $1,871,231Net Income 2014: -$928,7902014Revenue 2015: $330,645Expenses 2015: $308,639Net Income 2015: $22,0062015Revenue 2016: $64,805Expenses 2016: $81,193Net Income 2016: -$16,3882016Revenue 2017: $84,197Expenses 2017: $73,918Net Income 2017: $10,2792017Revenue 2018: $38,233Expenses 2018: $71,738Net Income 2018: -$33,5052018

Highlighted filing

2014

Revenue$942,441
Expenses$1,871,231
Net Income-$928,790
Jump To
Filing Snapshot
Filing Period
Oct 1, 2013 to Sep 30, 2014
Signed
May 18, 2015
Return Version
2013v4.0
Gross Receipts
$942,441
Mission and Program Overview

Mission

The war memorial foundation, inc. ("the foundation"), was chartered by the state of north carolina in 2009. The foundation is organized exclusively for benevolent, historic and education purposes within the meaning of section 501(c)(3) of the internal revenue code, including, for such purposes, the making of distributions to organizations that also qualify as section 501(c)(3) exempt organizations. The foundation pursues projects that specifically honor the service men and women of the united states armed forces and their families. All funds, whether income or principal, and whether acquired by gift or contribution or otherwise, are devoted to said purpose. The foundation's revenues are generated from grants, donations and fund raising activities. The foundation was organized for the following purposes: 1.the war memorial foundation is organized exclusively for benevolent, historic and educational purposes and shall pursue projects that specifically honor the service men and women of t

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$323,000--
Cash and Non-Interest-Bearing Accounts$1,305,210$69,345▼ $1,235,865
Total Assets$1,628,210$69,345▼ $1,558,865
Liabilities
Accounts Payable and Accrued Expenses$630,075--
Total Liabilities$630,075$0▼ $630,075
Net Assets / Fund Balance
Unrestricted Net Assets$998,135$69,345▼ $928,790
Total Net Assets Fund Balance$998,135$69,345▼ $928,790
Total Liabilities and Net Assets / Fund Balance$1,628,210$69,345▼ $1,558,865
Compensation and Service Providers

Board Members and Trustees

NameTitle
Scott MatthewsPresident
Bill MossDirector
Bruce DavisDirector
Dan HoodDirector
Danny BrackenDirector
David R PlylerDirector
Laura I WileyDirector
ROB O'HANLONDirector
Tom DayvaultDirector
William H KnightSecretary
George OfanedesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$942,441
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$692,441
Change in Net Assets
$-928,790

Audited Revenue Reconciliation

Revenue per Audited Statements
$942,441
Total Revenue per Audited Statements
$942,441
Total Revenue per Form 990
$942,441
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,871,231
Total Fundraising Expense$113,896
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$1,754,987--$1,754,987
Fees for Services Management--$58,043$58,043
Advertising--$51,289$51,289
Office Expenses-$967$4,024$4,991
Insurance-$1,381-$1,381
Information Technology--$540$540
Total Functional Expenses$1,754,987$2,348$113,896$1,871,231

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,871,231
Total Expenses per Audited Statements$1,871,231
Total Expenses per Form 990$1,871,231
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

Reviewed by members of the board of directors.

Form 990, Page 6, Part VI, Line 19

UPON REQUEST.

Filing and Contact Details

Filer

EIN
26-2187703

Signing Officer

Name
Scott Matthews
Title
President
Signed
2015-05-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Scott Matthews
Formed
2009
Legal Domicile
Nc
Voting Board Members
11
Independent Board Members
11
Employees
0

Preparer

Preparer
O Douglas Covington
Phone
3362725618
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The war memorial foundation, inc. ("the foundation"), was chartered by the state of north carolina in 2009. The foundation is organized exclusively for benevolent, historic and education purposes within the meaning of section 501(c)(3) of the internal revenue code, including, for such purposes, the making of distributions to organizations that also qualify as section 501(c)(3) exempt organizations. The foundation pursues projects that specifically honor the service men and women of the united states armed forces and their families. All funds, whether income or principal, and whether acquired by gift or contribution or otherwise, are devoted to said purpose. The foundation's revenues are generated from grants, donations and fund raising activities. The foundation was organized for the following purposes: 1.the war memorial foundation is organized exclusively for benevolent, historic and educational purposes and shall pursue projects that specifically honor the service men and women of the united states armed forces and their families. 2.to develop and construct the carolina field of honor in the triad park to offer recreation and education for the triad region. The carolina field of honor will consist of a parade deck and a memorial with a fountain.

Form 990, Page 2, Part III, Line 4A

The foundation was organized for the following purposes: 1.the war memorial foundation is organized exclusively for benevolent, historic and educational purposes and shall pursue projects that specifically honor the service men and women of the united states armed forces and their families. 2.to develop and construct the carolina field of honor in the triad park to offer recreation and education for the triad region. The carolina field of honor will consist of a parade deck and a memorial with a fountain.

Form 990, Part IX, Line 11G

Carolina field of honor 1,754,987 0 0

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IRS990/MissionDesc0THE WAR MEMORIAL FOUNDATION, INC. ("THE FOUNDATION"), WAS CHARTERED BY THE STATE OF NORTH CAROLINA IN 2009. THE FOUNDATION IS ORGANIZED EXCLUSIVELY FOR BENEVOLENT, HISTORIC AND EDUCATION PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, INCLUDING, FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT ALSO QUALIFY AS SECTION 501(C)(3) EXEMPT ORGANIZATIONS. THE FOUNDATION PURSUES PROJECTS THAT SPECIFICALLY HONOR THE SERVICE MEN AND WOMEN OF THE UNITED STATES ARMED FORCES AND THEIR FAMILIES. ALL FUNDS, WHETHER INCOME OR PRINCIPAL, AND WHETHER ACQUIRED BY GIFT OR CONTRIBUTION OR OTHERWISE, ARE DEVOTED TO SAID PURPOSE. THE FOUNDATION'S REVENUES ARE GENERATED FROM GRANTS, DONATIONS AND FUND RAISING ACTIVITIES. THE FOUNDATION WAS ORGANIZED FOR THE FOLLOWING PURPOSES: 1.THE WAR MEMORIAL FOUNDATION IS ORGANIZED EXCLUSIVELY FOR BENEVOLENT, HISTORIC AND EDUCATIONAL PURPOSES AND SHALL PURSUE PROJECTS THAT SPECIFICALLY HONOR THE SERVICE MEN AND WOMEN OF T
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine10HICAPS INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD MEMBER
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0CONSTRUCTION
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0DANIEL M. HOOD IS A BOARD MEMBER AND OFFICER AND OWNER OF HICAPS, INC. THE WAR MEMBORIAL FOUNDATION ENTERED INTO A CONTRACT WITH HICAPS, INC. TO CONSTRUCT THE CAROLINA FIELD OF HONOR FOR COST PLUS A 3% OVERHEAD FEE. FOR THE YEAR ENDED SEPTEMBER 30, 2014, THE WAR MEMORIAL FOUNDATION INCURRED 1,754,987 IN CONSTRUCTION COSTS TO HICAPS, INC. INCLUDING A 3% OVERHEAD FEE IN THE AMOUNT OF 52,650.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE WAR MEMORIAL FOUNDATION, INC. ("THE FOUNDATION"), WAS CHARTERED BY THE STATE OF NORTH CAROLINA IN 2009. THE FOUNDATION IS ORGANIZED EXCLUSIVELY FOR BENEVOLENT, HISTORIC AND EDUCATION PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, INCLUDING, FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT ALSO QUALIFY AS SECTION 501(C)(3) EXEMPT ORGANIZATIONS. THE FOUNDATION PURSUES PROJECTS THAT SPECIFICALLY HONOR THE SERVICE MEN AND WOMEN OF THE UNITED STATES ARMED FORCES AND THEIR FAMILIES. ALL FUNDS, WHETHER INCOME OR PRINCIPAL, AND WHETHER ACQUIRED BY GIFT OR CONTRIBUTION OR OTHERWISE, ARE DEVOTED TO SAID PURPOSE. THE FOUNDATION'S REVENUES ARE GENERATED FROM GRANTS, DONATIONS AND FUND RAISING ACTIVITIES. THE FOUNDATION WAS ORGANIZED FOR THE FOLLOWING PURPOSES: 1.THE WAR MEMORIAL FOUNDATION IS ORGANIZED EXCLUSIVELY FOR BENEVOLENT, HISTORIC AND EDUCATIONAL PURPOSES AND SHALL PURSUE PROJECTS THAT SPECIFICALLY HONOR THE SERVICE MEN AND WOMEN OF THE UNITED STATES ARMED FORCES AND THEIR FAMILIES. 2.TO DEVELOP AND CONSTRUCT THE CAROLINA FIELD OF HONOR IN THE TRIAD PARK TO OFFER RECREATION AND EDUCATION FOR THE TRIAD REGION. THE CAROLINA FIELD OF HONOR WILL CONSIST OF A PARADE DECK AND A MEMORIAL WITH A FOUNTAIN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION WAS ORGANIZED FOR THE FOLLOWING PURPOSES: 1.THE WAR MEMORIAL FOUNDATION IS ORGANIZED EXCLUSIVELY FOR BENEVOLENT, HISTORIC AND EDUCATIONAL PURPOSES AND SHALL PURSUE PROJECTS THAT SPECIFICALLY HONOR THE SERVICE MEN AND WOMEN OF THE UNITED STATES ARMED FORCES AND THEIR FAMILIES. 2.TO DEVELOP AND CONSTRUCT THE CAROLINA FIELD OF HONOR IN THE TRIAD PARK TO OFFER RECREATION AND EDUCATION FOR THE TRIAD REGION. THE CAROLINA FIELD OF HONOR WILL CONSIST OF A PARADE DECK AND A MEMORIAL WITH A FOUNTAIN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REVIEWED BY MEMBERS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CAROLINA FIELD OF HONOR 1,754,987 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
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ReturnHeader/BuildTS02016-04-25 22:37:26Z
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine101031 SUMMIT AVE STE 2E1
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode027405
ReturnHeader/PreparerPersonGrp/PhoneNum03362725618
ReturnHeader/PreparerPersonGrp/PreparationDt02015-08-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0O DOUGLAS COVINGTON
ReturnHeader/ReturnTs02015-08-10T12:49:08-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-10-01
ReturnHeader/TaxPeriodEndDt02014-09-30
ReturnHeader/TaxYr02013

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