One of our organizational values is accountability. It is a quality that was drilled into most of our team members, and often in an environment where the loss of a critical piece of equipment or gear could lead to mission failure or risk to fellow team member’s safety. As a result, we take the obligation to be good stewards of the funds donated to our efforts.
The Global War on Terror Memorial Foundation has little to report in our first year of operation. After receiving nonprofit status from the IRS in May of 2015, we did not begin grassroots fundraising until the first week of November 2015. So essentially, the information included in our IRS FORM 990 for 2015 only includes seven weeks of financial information. We raised a total of $2,920, and our expenses measured $1,512; $1,500 of which were fees paid to our law firm for services rendered enabling us to incorporate in Pennsylvania and obtain nonprofit status from the IRS.
In FY2016, we rapidly expanded our operations and focused more on fundraising and our legislative efforts. That resulted in a House bill being introduced during FY2016, and an increase in fundraising that saw our annual donations rise to close to $100,000 ($96,907 to be exact). To continue to align with our organizational value of accountability in FY2016, GWOTMF partnered with Frank and Company CPAs to ensure the highest standards of accounting and compliance are being met now and into our organization’s future.
Below is our 2015 IRS FORM 990 as filed:
Below is our 2016 IRS FORM 990 as filed:
Annually our fiscal year ends on 15 May, so our IRS 990 becomes available on or about 1 June of each fiscal year. FY2017 was our first year as an organization with paid staff, so our first year end report will be produced at the conclusion of FY2017.
As stated in our filed FORM 990s, our governing documents, policies, and financial statements are available upon request.