Civic Intelligence

Silver Spring Memorial Post 2562 VFW

990 • Fiscal year 2023 • EIN 52-0654914

Jul 01, 2022 to Jun 30, 2023 • Filed on May 15, 2024

Organization ProfileWWW.VFW2562.ORG
11316 Fern StreetSilver Spring, MD 20902

(240) 620-7776

Siviq Scores

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

Liabilities / Assets

79th percentile

0.05x

Higher debt load relative to assets than 79% of similar nonprofits.

2023 filings • 501(c)19 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

91st percentile

0.49x

Higher debt load relative to revenue than 91% of similar nonprofits.

2023 filings • 501(c)19 • $500k-$1M nonprofits • Source year 2023

Net Margin

3rd percentile

-117%

Higher net margin than 3% of similar nonprofits.

2023 filings • 501(c)19 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

84th percentile

$2,600

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 3.3% of source-year revenue.

2023 filings • 501(c)19 • $500k-$1M nonprofits • Source year 2023

Asset Growth

14th percentile

-7.3%

Faster asset growth than 14% of similar nonprofits.

2023 filings • 501(c)19 • $500k-$1M nonprofits • Annualized from 2020 to 2023

Revenue Growth

9th percentile

-29%

Faster revenue growth than 9% of similar nonprofits.

2023 filings • 501(c)19 • $500k-$1M nonprofits • Annualized from 2020 to 2023

Balance Sheet
Liabilities / Assets79th percentile

Assets

Flat

$757,655

Flat from 2023

Net Assets

Flat

$719,597

Flat from 2023

Liabilities

Flat

$38,058

Flat from 2023

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin3rd percentile

Revenue

Flat

$78,130

Flat from 2023

Expenses

Flat

$169,474

Flat from 2023

Net Income

Flat

-$91,344

Flat from 2023

Historical Trend

Balance Sheet Trend

Asset Growth14th percentile

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

$1.0M$500K$0Assets 2011: $716,505Liabilities 2011: $5,536Net Assets 2011: $710,9692011Assets 2012: $733,858Liabilities 2012: $3,738Net Assets 2012: $730,1202012Assets 2013: $752,234Liabilities 2013: $6,847Net Assets 2013: $745,3872013Assets 2014: $777,086Liabilities 2014: $5,558Net Assets 2014: $771,5282014Assets 2015: $831,346Liabilities 2015: $7,869Net Assets 2015: $823,4772015Assets 2016: $879,677Liabilities 2016: $4,853Net Assets 2016: $874,8242016Assets 2017: $852,178Liabilities 2017: $20,025Net Assets 2017: $832,1532017Assets 2018: $852,695Liabilities 2018: $6,491Net Assets 2018: $846,2042018Assets 2019: $883,437Liabilities 2019: $28,106Net Assets 2019: $855,3312019Assets 2020: $951,684Liabilities 2020: $26,523Net Assets 2020: $925,1612020Assets 2023: $757,655Liabilities 2023: $38,058Net Assets 2023: $719,5972023Assets 2023: $757,655Liabilities 2023: $38,058Net Assets 2023: $719,5972023Assets 2024: $651,573Liabilities 2024: $0Net Assets 2024: $651,5732024

Highlighted filing

2023

Assets$757,655
Liabilities$38,058
Net Assets$719,597
Open 2023 Filing

Operations Trend

Revenue Growth9th percentile

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

$300K$200K$100K$0-$100KRevenue 2011: $98,022Expenses 2011: $86,129Net Income 2011: $11,8932011Revenue 2012: $104,900Expenses 2012: $85,092Net Income 2012: $19,8082012Revenue 2013: $100,685Expenses 2013: $90,719Net Income 2013: $9,9662013Revenue 2014: $119,148Expenses 2014: $103,513Net Income 2014: $15,6352014Revenue 2015: $172,618Expenses 2015: $109,801Net Income 2015: $62,8172015Revenue 2016: $155,568Expenses 2016: $100,840Net Income 2016: $54,7282016Revenue 2017: $89,688Expenses 2017: $130,075Net Income 2017: -$40,3872017Revenue 2018: $165,346Expenses 2018: $157,155Net Income 2018: $8,1912018Revenue 2019: $154,061Expenses 2019: $139,002Net Income 2019: $15,0592019Revenue 2020: $220,477Expenses 2020: $150,647Net Income 2020: $69,8302020Revenue 2023: $78,130Expenses 2023: $169,474Net Income 2023: -$91,3442023Revenue 2023: $78,130Expenses 2023: $169,474Net Income 2023: -$91,3442023Revenue 2024: $13,804Expenses 2024: $65,432Net Income 2024: -$51,6282024

Highlighted filing

2023

Revenue$78,130
Expenses$169,474
Net Income-$91,344
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 15, 2024
Return Version
2022v5.0
Gross Receipts
$234,574
Mission and Program Overview

Mission

Primary purpose is to serve veterans and active duty military personnel by providing a gathering place for social events for members, their families and their guests.the post provides information to members about government benefits to which they are entitled and assists them in obtaining those benefits. Post 2562 provides programs that favorably affect veterans with their everyday living and serves as a center for community service where it members, ladies' auxiliary members and mens' auxiliary members raise funds for local charities and deliver services to local citizens in need. The post is affiliated with the maryland department of the veterans of foreign wars and the national vfw organization and its members participate in the programs of these organizations. Vfw post 2562 helps sponsor events several times a year that remind the public of the service and sacrifices by veterans in our country's times of need. The post also provides a meeting place and a social gathering plac

Fraternal, patriotic, historical, and educational organization to preserve and strengthen comradeship among its members. To assist worthy comrades, perpetuate the memory and history of our dead, assist their widows/widowers and orphans.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$561,906$561,906→ $0
Savings and Temporary Cash Investments$265,290$140,377▼ $124,913
Cash and Non-Interest-Bearing Accounts$5,383$44,924▲ $39,541
Inventories for Sale or Use$6,940$6,940→ $0
Investments in Publicly Traded Securities$3,508$3,508→ $0
Total Assets$843,027$757,655▼ $85,372
Liabilities
Accounts Payable and Accrued Expenses$32,086$38,058▲ $5,972
Total Liabilities$32,086$38,058▲ $5,972
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$810,941$719,597▼ $91,344
Total Net Assets Fund Balance$810,941$719,597▼ $91,344
Total Liabilities and Net Assets / Fund Balance$843,027$757,655▼ $85,372

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$394,968-$394,968
Equipment$154,890-$154,890
Other Land Buildings$12,048-$12,048
Compensation and Service Providers
Top Officer Pay84th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Delaney RakosnikPost QuartermasterFT$2,600$2,600

Board Members and Trustees

NameTitle
Chad Trujillo1 Yr Trustee
Kevin Pollock2 Yr Trustee
Roland Kauffman3yr Trustee
Danny BakerChaplain
Tomas BuntingJunior Vice Commander Adjut
Stancil HudsonPost Commander
Steve ShortQuartermaster
Mark BroderickSenior Vice Commander
Revenue and Support

Revenue Composition

Contributions and Grants
$1,818
Program Service Revenue
$0
Investment Income
$87
Other Revenue
$76,225
Change in Net Assets
$-91,344
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$121,175
Salaries, Compensation, and Employee Benefits$48,299
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy-$63,462-$63,462
Other Salaries and Wages-$33,291-$33,291
Fees for Services Accounting-$16,250-$16,250
Payroll Taxes-$12,408-$12,408
Insurance-$11,103-$11,103
Office Expenses-$10,937-$10,937
Information Technology-$3,250-$3,250
Current Officers, Directors, Trustees, and Key Employees-$2,600-$2,600
Other Expenses-$743-$743
Fees for Services Other-$360-$360
Total Functional Expenses$0$169,474$0$169,474
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Gaming Gross Income$163,360
Gaming Direct Expenses$129,091
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
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
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Member election for additional members Part VI line 7A

“The post 2562s leadership is comprised of representatives from itsmembers. Leaders will be elected every year.”

Governing body decisions Part VI line 7B

“Decisions subject to approval of members.”

Form 990 governing body review Part VI line 11

“Before the 990 is filed, a copy is present to the post commander and post quartermaster for review. Once the review has been completed and there are no further questions or concerns, then the return is filed with the irs.”

Other officer or key employee compensation Part VI line 15B

“In determining compensation for the quartermaster, job responsibility, time requirement and skill set were considered along with comparable compensation at other vfw posts.”

Governing documents etc available to public Part VI line 19

“Governing documents, policiesm and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Silver Spring Memorial Post 2562 Vf
EIN
52-0654914
Address
11316 FERN STREET, Silver Spring, MD 20902

Signing Officer

Name
Richard Fenati
Title
Post Commander
Phone
2406207776
Signed
2024-05-15
Discuss with paid preparer
No

Organization Details

Formed
1947
Legal Domicile
Md
Voting Board Members
11
Independent Board Members
0
Employees
9
Volunteers
11

Preparer

Firm
Tsc Enterprise
Address
5211 AUTH RD STE 100, Suitland, MD 20746
Preparer
Christopher Tinker CPA
Phone
2404557848
Supplemental Narrative

Additional Explanations

General explanation attachment

“Part 1: primary exempt purpose :fraternal, patriotic, historical, and educational organization to preserve and strengthen comradeship among its members. To assist worthy comrades, perpetuate the memory and history of our dead, assist their widows/widowers and orphans. To maintain true patriotism, maintain and extend the institution of american freedom and to preserve and defend the united states from her enemies, whomsoever.”

Raw XML Appendix359 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DECISIONS SUBJECT TO APPROVAL OF MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BEFORE THE 990 IS FILED, A COPY IS PRESENT TO THE POST COMMANDER AND POST QUARTERMASTER FOR REVIEW. ONCE THE REVIEW HAS BEEN COMPLETED AND THERE ARE NO FURTHER QUESTIONS OR CONCERNS, THEN THE RETURN IS FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3IN DETERMINING COMPENSATION FOR THE QUARTERMASTER, JOB RESPONSIBILITY, TIME REQUIREMENT AND SKILL SET WERE CONSIDERED ALONG WITH COMPARABLE COMPENSATION AT OTHER VFW POSTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS, POLICIESM AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PART 1: PRIMARY EXEMPT PURPOSE :FRATERNAL, PATRIOTIC, HISTORICAL, AND EDUCATIONAL ORGANIZATION TO PRESERVE AND STRENGTHEN COMRADESHIP AMONG ITS MEMBERS. TO ASSIST WORTHY COMRADES, PERPETUATE THE MEMORY AND HISTORY OF OUR DEAD, ASSIST THEIR WIDOWS/WIDOWERS AND ORPHANS. TO MAINTAIN TRUE PATRIOTISM, MAINTAIN AND EXTEND THE INSTITUTION OF AMERICAN FREEDOM AND TO PRESERVE AND DEFEND THE UNITED STATES FROM HER ENEMIES, WHOMSOEVER.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
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ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$757,655
Liabilities
$38,058
Net assets
$719,597
Revenue
$78,130
Expenses
$169,474
Net income
-$91,344
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Summary only. Only limited summary data is available for this year.$6.52$0.00$6.52$0.14$0.65$0.52
2023Detailed filing. Detailed filing data is available for this year.$7.58$0.38$7.20$0.78$1.69$0.91
2023Summary only. Only limited summary data is available for this year.$7.58$0.38$7.20$0.78$1.69$0.91
2020Summary only. Only limited summary data is available for this year.$9.52$0.27$9.25$2.20$1.51$0.70
2019Summary only. Only limited summary data is available for this year.$8.83$0.28$8.55$1.54$1.39$0.15
2018Summary only. Only limited summary data is available for this year.$8.53$0.06$8.46$1.65$1.57$0.08
2017Summary only. Only limited summary data is available for this year.$8.52$0.20$8.32$0.90$1.30$0.40
2016Summary only. Only limited summary data is available for this year.$8.80$0.05$8.75$1.56$1.01$0.55
2015Summary only. Only limited summary data is available for this year.$8.31$0.08$8.23$1.73$1.10$0.63
2014Summary only. Only limited summary data is available for this year.$7.77$0.06$7.72$1.19$1.04$0.16
2013Summary only. Only limited summary data is available for this year.$7.52$0.07$7.45$1.01$0.91$0.10
2012Summary only. Only limited summary data is available for this year.$7.34$0.04$7.30$1.05$0.85$0.20
2011Summary only. Only limited summary data is available for this year.$7.17$0.06$7.11$0.98$0.86$0.12