Civic Intelligence

Silver Spring Memorial Post 2562 VFW

990 • Fiscal year 2018 • EIN 52-0654914

Jul 01, 2017 to Jun 30, 2018 • Filed on May 13, 2019

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

54th percentile

0.01x

Higher debt load relative to assets than 54% of similar nonprofits.

2018 filings • 501(c)19 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

65th percentile

0.04x

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

2018 filings • 501(c)19 • $500k-$1M nonprofits • Source year 2018

Net Margin

52nd percentile

5.0%

Higher net margin than 52% of similar nonprofits.

2018 filings • 501(c)19 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

92nd percentile

$13,000

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 7.9% of source-year revenue.

2018 filings • 501(c)19 • $500k-$1M nonprofits • Source year 2018

Asset Growth

44th percentile

0.1%

Faster asset growth than 44% of similar nonprofits.

2018 filings • 501(c)19 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

94th percentile

84%

Faster revenue growth than 94% of similar nonprofits.

2018 filings • 501(c)19 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets54th percentile

Assets

Up

$852,695

Up $517 (+0.1%) from 2017

Net Assets

Up

$846,204

Up $14,051 (+1.7%) from 2017

Liabilities

Down

$6,491

Down $13,534 (-68%) from 2017

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin52nd percentile

Revenue

Up

$165,346

Up $75,658 (+84%) from 2017

Expenses

Up

$157,155

Up $27,080 (+21%) from 2017

Net Income

Up

$8,191

Up $48,578 (+120%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth44th 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

2018

Assets$852,695
Liabilities$6,491
Net Assets$846,204
Open 2018 Filing

Operations Trend

Revenue Growth94th 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

2018

Revenue$165,346
Expenses$157,155
Net Income$8,191
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 13, 2019
Return Version
2017v2.3
Gross Receipts
$315,743
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$216,563$218,490▲ $1,927
Cash and Non-Interest-Bearing Accounts$73,127$73,280▲ $153
Prepaid Expenses and Deferred Charges$13,547$15,181▲ $1,634
Inventories for Sale or Use$7,275$4,078▼ $3,197
Investments in Publicly Traded Securities$3,508$3,508→ $0
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$852,178$852,695▲ $517
Liabilities
Other Liabilities$18,208$4,674▼ $13,534
Accounts Payable and Accrued Expenses$1,817$1,817→ $0
Total Liabilities$20,025$6,491▼ $13,534
Net Assets / Fund Balance
Total Net Assets Fund Balance$832,153$846,204▲ $14,051
Total Liabilities and Net Assets / Fund Balance$852,178$852,695▲ $517

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 Pay92nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Delaney RakosnikPost 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
$0
Program Service Revenue
$0
Investment Income
$869
Other Revenue
$164,477
Change in Net Assets
$8,191
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$110,516
Salaries, Compensation, and Employee Benefits$46,639
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy---$63,504
Other Salaries and Wages---$32,557
All Other Expenses---$21,301
Payroll Taxes---$14,082
Other Expenses---$4,452
Office Expenses---$87
Total Functional Expenses$0$0$0$157,155
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Gaming Gross Income$84,390
Gaming Direct Expenses$35,824
Fundraising Gross Income$23,466
Fundraising Direct Expenses$1,500
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
Sales Tax Payable$2,354
Payroll Taxes Payable$2,320
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
2019-05-13
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

“Professional fees 3725. Other taxes 3077. Newsletter 2970. Operating supplies 2869. Coffee purchases 2696. Misc expenses 1783. Licenses 1772. Bond 1089. Security system 722. Postage 598.”

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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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02320
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12354
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL TAXES PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SALES TAX PAYABLE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0538158
IRS990ScheduleD/TotalLiabilityAmt04674
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/ExplanationTxt2PROFESSIONAL FEES 3725. OTHER TAXES 3077. NEWSLETTER 2970. OPERATING SUPPLIES 2869. COFFEE PURCHASES 2696. MISC EXPENSES 1783. LICENSES 1772. BOND 1089. SECURITY SYSTEM 722. POSTAGE 598.
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/TotalAssetsBOYAmt0852178
IRS990/TotalAssetsEOYAmt0852695
IRS990/TotalAssetsGrp/BOYAmt0852178
IRS990/TotalAssetsGrp/EOYAmt0852695
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0157155
IRS990/TotalGrossUBIAmt094814
IRS990/TotalLiabilitiesBOYAmt020025
IRS990/TotalLiabilitiesEOYAmt06491
IRS990/TotalLiabilitiesGrp/BOYAmt020025
IRS990/TotalLiabilitiesGrp/EOYAmt06491
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0832153
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0846204
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt013000
IRS990/TotalRevenueGrp/ExclusionAmt021966
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt048566
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0165346
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt094814
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0852178
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0852695
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
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/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DELANEY RAKOSNIK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0QUARTERMASTER
ReturnHeader/BusinessOfficerGrp/PhoneNum03019331588
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-13
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/AtSubmissionCreationDeviceId02BFA204FF24B40ABFDC8F23229110B57EF0E45C5
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId02BFA204FF24B40ABFDC8F23229110B57EF0E45C5
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt050.197.10.110
ReturnHeader/FilingSecurityInformation/IPDt02019-05-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm008:13:02
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/ReturnTs02019-05-13T10:37:25-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$852,695
Liabilities
$6,491
Net assets
$846,204
Revenue
$165,346
Expenses
$157,155
Net income
$8,191
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
2018Detailed filing. Detailed filing 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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2018 filings • 501(c)19 • $500k-$1M nonprofits