Veterans Foundation of Illinois Inc

Nonprofit profile at a glance

EIN
113698763
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-EZ 2019, Form 990-N 2022
Location
Springfield, IL, USA
Phone
2175296688
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Centers to Support the Independence of Specific Populations

Reported finances

Revenue
$15,220
Expenses
$187,493
Assets
$211,177
Liabilities
$0

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

Leadership & pay

7 people listed

Executive titles in this filing

  • TODD LATHAM (PRESIDENT)
  • EUGENE BLACKWELL (1ST VICE PRESIDENT)
  • ROB BAILEY (2ND VICE PRESIDENT)

Highest reported compensation

  • SCOTT SWINFORD (TREASURER): $3,654 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 promote and fund veteran programs supporting veteran service organizations.

What it reported doing in 2024

The foundation receives funds from donors to support veterans and programs supporting veterans.

Operating model

Revenue model
Investment-supported. 78% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 93
  • Accountability: 84
  • Sustainability: 18
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 16.7%; rating input score 17
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: Pass

Sustainability

  • Operating margin: -1,131.9%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 1.13; rating input score 26; 26th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 0.6% per year; rating input score 100; 53rd percentile among comparable filings
  • Revenue growth: 9.5% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 5.6% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 16.7% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $31K in reported program spending
  • Leadership: top reported pay $4K · 7 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 6 filed schedules · includes grants
  • Filing history: 10 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: Filed and resolved organization relationships.
  • 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: Program expense ratio scored 17/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Sustainability: Total-asset coverage ratio scored 26/100.