Maryland Veterans Tr

Nonprofit profile at a glance

EIN
467071740
IRS 990 coverage
2021–2024
Forms available
Form 990 2024
Location
Annapolis, MD, USA
Phone
4102603838
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Military, Veterans' Organizations

Official website

Reported finances

Revenue
$506,374
Expenses
$640,614
Assets
$658,710
Liabilities
$9,294

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

Leadership & pay

10 people listed

Executive titles in this filing

  • Heather Geraldes (Executive Director)

Highest reported compensation

  • Anthony Woods (Chair): $179,000 total reported compensation
  • Heather Geraldes (Executive Director): $48,630 total reported compensation

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

Overview

Mission

To provide monetary and other assistance to veterans and their families, and to public and private programs that support veterans and their families.

What it reported doing in 2024

Provided financial assistance grants to veterans in financial need in the State of Maryland. Grants were awarded to veterans but paid only to their mortgage holders, landlords, utilities, and other suppliers or service providers. No grant monies were paid directly to beneficiaries of the grants.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 67
  • Accountability: 69
  • Sustainability: 24
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 93.9%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 98.5%; rating input score 98; 47th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90.9%; rating input score 91; 23rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: -26.5%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 1.03; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 21.7% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 6.5% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 20.6% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 93.9% of spending went to programs
  • Governance: 10 of 11 board members independent · 3 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $602K in reported program spending
  • Leadership: top reported pay $179K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 5 filed related-organization links
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 7/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.