Vice President's Residence Foundation

Nonprofit profile at a glance

EIN
521725927
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-EZ 2014
Location
Beverly, MA, USA
Phone
6173036800
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Historical Societies, Related Historical Activities

Official website

Reported finances

Revenue
$4,967,004
Expenses
$1,182,269
Assets
$5,730,853
Liabilities
$4,680

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

Leadership & pay

6 people listed

Executive titles in this filing

  • CHRISTOPHER APPLEGATE (PRESIDENT)

People named in this filing

  • JOHN ADDISON (DIRECTOR)
  • ROBERT HUGIN (DIRECTOR)
  • ANGELA PHILLIPS (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The vice president's residence foundation assists in preserving and furnishing the official residence of the vice president of the united states.

What it reported doing in 2024

During the year, the foundation provided financial assistance associated with preserving, furnishing and making improvements in or about the official residence of the vice president of the united states. The foundation also provided assistance to facilitate loans of art to the residence and acquired items of furniture and furnishing for the residence. Last, the foundation supported events at the residence that furthered its programmatic objectives.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% 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

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 53
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 92
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 22.5%; rating input score 23
  • Program expense ratio: 91.8%; rating input score 92
  • Fundraising efficiency: $125.55 raised per $1 spent on fundraising; rating input score 89; 89th percentile among comparable filings

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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 76.2%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 4.85; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 93; 93rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 24.3% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 23.6% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 16.5% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 22.5% of revenue deployed · 91.8% of spending went to programs
  • Governance: 6 of 6 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 8 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • 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: Mission deployment rate scored 23/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.