Civic Intelligence

Silver Spring Memorial Post 2562 VFW

990 • Fiscal year 2017 • EIN 52-0654914

Jul 01, 2016 to Jun 30, 2017 • Filed on Sep 05, 2018

Organization ProfileWWW.VFWPOST2562.COM
11316 Fern StreetWheaton, MD 20902

(301) 933-1588

Siviq Scores

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

Liabilities / Assets

65th percentile

0.02x

Higher debt load relative to assets than 65% of similar nonprofits.

2017 filings • 501(c)19 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

80th percentile

0.22x

Higher debt load relative to revenue than 80% of similar nonprofits.

2017 filings • 501(c)19 • $500k-$1M nonprofits • Source year 2017

Net Margin

5th percentile

-45%

Higher net margin than 5% of similar nonprofits.

2017 filings • 501(c)19 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

91st percentile

$13,000

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 14.5% of source-year revenue.

2017 filings • 501(c)19 • $500k-$1M nonprofits • Source year 2017

Asset Growth

24th percentile

-3.1%

Faster asset growth than 24% of similar nonprofits.

2017 filings • 501(c)19 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

5th percentile

-42%

Faster revenue growth than 5% of similar nonprofits.

2017 filings • 501(c)19 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets65th percentile

Assets

Down

$852,178

Down $27,499 (-3.1%) from 2016

Net Assets

Down

$832,153

Down $42,671 (-4.9%) from 2016

Liabilities

Up

$20,025

Up $15,172 (+313%) from 2016

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin5th percentile

Revenue

Down

$89,688

Down $65,880 (-42%) from 2016

Expenses

Up

$130,075

Up $29,235 (+29%) from 2016

Net Income

Down

-$40,387

Down $95,115 (-174%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth24th 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 2024: $651,573Liabilities 2024: $0Net Assets 2024: $651,5732024

Highlighted filing

2017

Assets$852,178
Liabilities$20,025
Net Assets$832,153
Open 2017 Filing

Operations Trend

Revenue Growth5th 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 2024: $13,804Expenses 2024: $65,432Net Income 2024: -$51,6282024

Highlighted filing

2017

Revenue$89,688
Expenses$130,075
Net Income-$40,387
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Sep 5, 2018
Return Version
2016v3.0
Gross Receipts
$175,649
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

The purposes of the silver spring memorial post 2562 include service to its members and guests, to the community and to the nation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$538,158$538,158→ $0
Savings and Temporary Cash Investments$216,268$216,563▲ $295
Cash and Non-Interest-Bearing Accounts$107,787$73,127▼ $34,660
Prepaid Expenses and Deferred Charges$7,236$13,547▲ $6,311
Inventories for Sale or Use$7,106$7,275▲ $169
Investments in Publicly Traded Securities$3,122$3,508▲ $386
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$879,677$852,178▼ $27,499
Liabilities
Other Liabilities$3,036$18,208▲ $15,172
Accounts Payable and Accrued Expenses$1,817$1,817→ $0
Total Liabilities$4,853$20,025▲ $15,172
Net Assets / Fund Balance
Total Net Assets Fund Balance$874,824$832,153▼ $42,671
Total Liabilities and Net Assets / Fund Balance$879,677$852,178▼ $27,499

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$383,268-$383,268
Equipment$154,890-$154,890
Other Land Buildings$0$12,048$12,048
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Octavia B DixonPost QuartermasterFT$13,000$13,000

Board Members and Trustees

NameTitle
Richard E NewcomeTrustee
Timothy M SullivanTrustee
William C FreemanTrustee
Joseph M StillwellAdjuvant
Bill GoldingChaplain
Tomas BuntingJudge Advocate
Stancil a HudsonPost Commander
Peter DelongaSenior Vice Post Commander
Mark BroderickSurgeon
Revenue and Support

Revenue Composition

Contributions and Grants
$341
Program Service Revenue
$379
Investment Income
$698
Other Revenue
$88,270
All Other Contributions
$341
Change in Net Assets
$-40,387
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$89,615
Salaries, Compensation, and Employee Benefits$40,460
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy---$32,133
Other Salaries and Wages---$24,050
Payroll Taxes---$16,410
All Other Expenses---$16,197
Other Expenses---$3,984
Fees for Services Accounting---$3,025
Office Expenses---$1,929
Total Functional Expenses$0$0$0$130,075
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Gaming Gross Income$27,500
Gaming Direct Expenses$10,632
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Taxes Payable$14,988
Sales Tax Payable$3,220
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, Part VI, Section B, Line 11B

“Available at headquarters for review”

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
Silver Spring Memorial Post 2562 Vfw
EIN
52-0654914
Phone
3019331588
Address
11316 FERN STREET, WHEATON, MD 20902

Signing Officer

Name
Delaney Rakosnik
Title
Quartermaster
Phone
3019331588
Signed
2018-09-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Delaney Rakosnik
Formed
1947
Voting Board Members
11
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Sherwood Associates Inc
Address
11249 FERN STREET, WHEATON, MD 20902
Preparer
Deborah Alderton
Phone
3019331222
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“Misc supplies 3826. Newsletter 3345. Cable tv 1468. Licenses 1443. Misc expenses 1398. Post program expenses 1346. Other taxes 1321. 730 wager excise tax 937. Coffee purchases 823. Postage 290.”

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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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IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0216268
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0216563
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0383268
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0383268
IRS990ScheduleD/EquipmentGrp/BookValueAmt0154890
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0154890
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt012048
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt012048
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt014988
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt13220
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL TAXES PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SALES TAX PAYABLE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0538158
IRS990ScheduleD/TotalLiabilityAmt018208
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AVAILABLE AT HEADQUARTERS FOR REVIEW
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MISC SUPPLIES 3826. NEWSLETTER 3345. CABLE TV 1468. LICENSES 1443. MISC EXPENSES 1398. POST PROGRAM EXPENSES 1346. OTHER TAXES 1321. 730 WAGER EXCISE TAX 937. COFFEE PURCHASES 823. POSTAGE 290.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 24E
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0879677
IRS990/TotalAssetsEOYAmt0852178
IRS990/TotalAssetsGrp/BOYAmt0879677
IRS990/TotalAssetsGrp/EOYAmt0852178
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0341
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0130075
IRS990/TotalGrossUBIAmt030962
IRS990/TotalLiabilitiesBOYAmt04853
IRS990/TotalLiabilitiesEOYAmt020025
IRS990/TotalLiabilitiesGrp/BOYAmt04853
IRS990/TotalLiabilitiesGrp/EOYAmt020025
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0874824
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0832153
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt0379
IRS990/TotalReportableCompFromOrgAmt013000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt058385
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt089688
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt030962
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0879677
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0852178
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt011316 FERN STREET
IRS990/USAddress/CityNm0WHEATON
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd020902
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.VFWPOST2562.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DELANEY RAKOSNIK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0QUARTERMASTER
ReturnHeader/BusinessOfficerGrp/PhoneNum03019331588
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-09-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SILVER SPRING MEMORIAL POST 2562 VFW
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0OF US INC
ReturnHeader/Filer/BusinessNameControlTxt0SILV
ReturnHeader/Filer/EIN0520654914
ReturnHeader/Filer/PhoneNum03019331588
ReturnHeader/Filer/USAddress/AddressLine1Txt011316 FERN STREET
ReturnHeader/Filer/USAddress/CityNm0WHEATON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd020902
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0E187539E2CA818E8BAA943A2E12732D73871F287
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0EB337F1D6F783CBAC91482BE358D9CA30C09A7EC
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt050.197.10.110
ReturnHeader/FilingSecurityInformation/IPDt02018-09-05
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm010:15:28
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0521364779
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SHERWOOD ASSOCIATES INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt011249 FERN STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WHEATON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd020902
ReturnHeader/PreparerPersonGrp/PhoneNum03019331222
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DEBORAH ALDERTON
ReturnHeader/ReturnTs02018-09-05T09:40:07-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$852,178
Liabilities
$20,025
Net assets
$832,153
Revenue
$89,688
Expenses
$130,075
Net income
-$40,387
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
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
2017Detailed filing. Detailed filing 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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2017 filings • 501(c)19 • $500k-$1M nonprofits