American Legion Post 62 Simpson

Nonprofit profile at a glance

EIN
610430010
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Franklin, KY, USA
Phone
6157567759
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$388,654
Expenses
$93,794
Assets
$2,924,826
Liabilities
$1,418,076

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

People named in this filing

  • LONZIE FERGUSON (COMMANDER)
  • JOHN MINNICKS (1ST VICE CMDR)
  • JOHN MASTERS (3RD VICE CMDR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide a support association for america's military veterans and to offer benevolent prorgrams in the community of franklin and simpson county, Kentucky.

What it reported doing in 2024

Donations to local charity and school organizations to support the youth and betterment of simpson county. Includes donations to the chamber of commerce to help struggling businesses and promote the community through gift certificates and sponsorships

Operating model

Revenue model
Other-operating. 93% of the money available for current operations came from other operating revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 52% for direct work, 38% for grants, and 10% for member benefits.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 35
  • Transparency & Controls: 75
  • Accountability: 88
  • Sustainability: 84
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 18%; rating input score 18
  • Program expense ratio: 74.5%; rating input score 74
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 56.2%; rating input score 56; 43rd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 75.9%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 31.18; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.48; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 23.2% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: 7.5% per year; rating input score 100; 64th percentile among comparable filings
  • Asset growth: 24.4% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 18% of revenue deployed · 74.5% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $70K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Highest-paid contractors: 1 contractor listed · $203K reported
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 18/100.
  • Review — Transparency & Controls: Grant itemization coverage scored 56/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.