Veterans Education and Research Association of Northern New England Inc

Nonprofit profile at a glance

EIN
223091219
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
White River Junction, VT, USA
Phone
8022966353
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$3,293,745
Expenses
$3,546,634
Assets
$2,331,069
Liabilities
$413,268

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

Leadership & pay

14 people listed

Executive titles in this filing

  • BRETT RUSCH MD (EXECUTIVE DIRECTOR WRJ)
  • SHEILA NOONE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • SHEILA NOONE (EXECUTIVE DIRECTOR): $168,074 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 principal mission of veranne, as outlined in the authorization by congress under 38 usc 7361-7366, is to a provide a flexible funding mechanism to support the conduct of va-authorized research and education at its partner va medical centers. Projects of interest include clinical trials of new interventions or drug treatments, laboratory studies of chronic and infectious diseases, clinical epidemiology and experiential education for veterans through therapeutic sports and arts.

What it reported doing in 2024

To facilitate research and education at the va medical centers in white river junction, vt, manchester, nh, the va Maine healthcare system, augusta, me and the va central western Massachusetts, northampton, ma.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 88% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 74
  • Accountability: 95
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.8%; rating input score 97
  • Program expense ratio: 90%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th 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: 98.7%; rating input score 99; 36th 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -7.7%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 0.66; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 47; 47th percentile among comparable filings
  • Officer compensation ratio: 4.7%; rating input score 55; 55th percentile among comparable filings

Growth

  • Program expense growth: 12.6% per year; rating input score 100; 72nd percentile among comparable filings
  • Revenue growth: 11.1% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 96.8% of revenue deployed · 90% of spending went to programs
  • Governance: 13 of 13 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3.2M in reported program spending
  • Leadership: top reported pay $168K · 14 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 7 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.
  • 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 16/100.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 47/100.
  • Review — Sustainability: Officer compensation ratio scored 55/100.