Heart and Armor Foundation

Nonprofit profile at a glance

EIN
824502174
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Los Angeles, CA, USA
Phone
4155091008
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Military, Veterans' Organizations

Official website

Reported finances

Revenue
$651,847
Expenses
$803,814
Assets
$512,305
Liabilities
$0

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Gerard Choucroun (Executive Director and Board Member)
  • John Mayer (President and Board Member)

Highest reported compensation

  • Gerard Choucroun (Executive Director and Board Member): $220,280 total reported compensation
  • Stephen Morange (CFO): $36,428 total reported compensation

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

Overview

Mission

The Heart and Armor Foundation for Veterans Health aims to protect the health of veterans and to connect civilians to the experiences of military service.

What it reported doing in 2024

Cultural Gaps Civilian Connection: Facilitating contemporary and well-attended events between civilians and veterans creating a more contemporary and realistic understanding of military service. Through collaborative community service veterans are provided with a platform to share relatable stories of camaraderie sacrifice strength and service.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 63% for direct work, and 37% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 90
  • Transparency & Controls: 79
  • Accountability: 81
  • Sustainability: 24
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 83.6%; rating input score 84
  • Fundraising efficiency: $19.4 raised per $1 spent on fundraising; rating input score 58; 58th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 19th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -23.3%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 0.64; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 31.9%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: 22.9% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: 15% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 22% per year; rating input score 100; 84th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 83.6% of spending went to programs
  • Governance: 5 of 6 board members independent · 7 of 9 filing controls reported
  • Programs: 5 filed program accomplishments · $672K in reported program spending
  • Leadership: top reported pay $220K · 7 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 42 of 42 current checks pass
  • Schedules: 5 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Sustainability: Operating margin scored 8/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 58/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.