Holtz's Heroes Foundation Inc Fka Lou's Lads Foundation Inc

Nonprofit profile at a glance

EIN
263345708
IRS 990 coverage
2020–2025
Forms available
Form 990 2025, Form 990-EZ 2018
Location
Fishers, IN, USA
Phone
3175020177
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Official website

Reported finances

Revenue
$352,086
Expenses
$386,999
Assets
$2,338,616
Liabilities
$3,395

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

30 people listed

Executive titles in this filing

  • CORNELIUS SOUTHALL (PRESIDENT EMERITUS)
  • SCOTT PALUMBO (PRESIDENT)
  • JUSTIN MEKO (PRESIDENT EMERITUS)
  • RANDY KINDER (PRESIDENT EMERITUS)
  • TOM GALLOWAY (PRESIDENT EMERITUS)
  • JEREMY AKERS (VICE PRESIDENT)

Highest reported compensation

  • REGINALD BROOKS (EXECUTIVE DIRECTOR): $133,558 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide financial assistance for the educational needs of children and young adults; to contribute, either directly or indirectly, money or other property of any kind to or for the use and benefit of educational institutions, public or private, including, but not limited to, primary and secondary schools, universities, colleges, vocational schools, seminaries and other traditional educational institutions; to contribute, either directly or indirectly, money or other property of any kind to or for the use and benefit of institutions, organizations, trusts, funds, foundations and corporations engaged in health care programs to alleviate the sick and suffering of mankind, for funding medical and scientific research for the alleviation and eradication of diseases of mankind and for funding community development activities or programs.

What it reported doing in 2025

Hhf holds outings, tailgating, dinners, and other events in south bend, Indiana. The primary purposes of these events are to raise funds for holtz's heroes foundation charitable programs such as support for families of members dealing with hardship, mental health and addiction issues, or medical emergencies; food drives in partnership with organizations across the united states; and an endowed scholarship fund at the university of notre dame to allow underprivileged students with need-based scholarships to pursue their academic dreams. These events are successful in raising awareness of the foundation with potential financial supporters and contributors.

Operating model

Revenue model
Donor-supported. 83% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 76% for direct work, and 24% for grants.

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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 30
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 37.7%; rating input score 38
  • Program expense ratio: 22.1%; rating input score 22
  • Fundraising efficiency: $2.57 raised per $1 spent on fundraising; rating input score 11; 11th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 81st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 96.7%; rating input score 97; 28th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -9.9%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 6.04; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 49; 49th percentile among comparable filings
  • Officer compensation ratio: 34.5%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: 16.1% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 23.8% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: 26.1% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 37.7% of revenue deployed · 22.1% of spending went to programs
  • Governance: 29 of 30 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $86K in reported program spending
  • Leadership: top reported pay $134K · 30 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 38/100.
  • High — Financial Efficiency: Program expense ratio scored 22/100.
  • High — Financial Efficiency: Fundraising efficiency scored 11/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Operating margin scored 19/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 49/100.