Wounded Warrior Foundation warning - Page 2 - PeachParts Mercedes-Benz Forum

greazzer · #16 01-13-2014, 06:38 PM

Quote:

Originally Posted by dynalow

I couldn't open the 990 tax return link, but I found their 2010 audited financial statements & gave them a once over.

Most of the ad time is donated. WWP records it as in kind revenue & allocates it among programs. Here's their 2010 audit report. This may give a little more insight as to the programs they sponsor and the costs to run them. Salaries are a heavy expense. Every program has them.

http://www.woundedwarriorproject.org/media/4505/fy2010_wwp_audited_financial_statements.pdf

On the face of it, I can't say I'm ready to send my blanket back yet.

You're right, little really spent for advertising.

Advertising- Advertising is expensed as incurred. For the year ended September 30, 2010, advertising expense was $32,870,870. Of this amount, $25,635,534 was in-kind contributions of public service announcements,
$6,944,205 was in-kind advertising for public awareness campaigns, and $291,131 was actual advertising costs incurred.

A chunk of their "money" is stuff given to them:

During the year ended September 30, 2010, the Organization received the following non-cash
contributions:
Media ad value $ 25,635,534
Advertising 6,944,205
Event tickets 533,838
Memberships 319,959
Backpack items 263,612
Other 236,467
Investments 56,268
Equipment 37,991

Total $ 34,027,874

They have $10.4 million in cash - stock investments.

Botnst · #17 01-13-2014, 06:40 PM

Looking like the OP writer was selective in his facts to present a perspective at variance with the actual data.

greazzer · #18 01-13-2014, 06:52 PM

It doesn't look like they rake in a lot of "hard" money. Their FY coincides with Uncle Sammy's:

2010

Current assets:
Cash $ 4,587,962
Investments 10,458,602
Contributions receivable, net 339,006
Other receivables 71,267
Inventory 177,326
Prepaid expenses 161,307

Total current assets 15,795,470

Idle · #19 01-13-2014, 06:55 PM

I give to Vets that I know. Co-signing for loans, helping out with projects, placing a few calls to help them find a job.

None of the folks I know want something for nothing, and all of them have service connected disabilities. All they need is a bit of a leg up and they not only can take it from there but that is the way they want it.

The part I like best about this is the zero overhead cost, and 100% goes to the intended.

cmbdiesel · #20 01-13-2014, 07:11 PM

Quote:

Originally Posted by Idle

I give to Vets that I know. Co-signing for loans, helping out with projects, placing a few calls to help them find a job.

None of the folks I know want something for nothing, and all of them have service connected disabilities. All they need is a bit of a leg up and they not only can take it from there but that is the way they want it.

The part I like best about this is the zero overhead cost, and 100% goes to the intended.

Unless you buy them a hat, then all the money goes to overhead....

Idle · #21 01-13-2014, 07:16 PM

Quote:

Originally Posted by cmbdiesel

Unless you buy them a hat, then all the money goes to overhead....

I need to figure out where I can use that joke. I just don't like presenting myself to these guys like they are a charity case because they don't see themselves in that light.

But that is funny.

dynalow · #22 01-14-2014, 08:10 AM

Quote:

Originally Posted by greazzer

You're right, little really spent for advertising.

Advertising- Advertising is expensed as incurred. For the year ended September 30, 2010, advertising expense was $32,870,870. Of this amount, $25,635,534 was in-kind contributions of public service announcements,
$6,944,205 was in-kind advertising for public awareness campaigns, and $291,131 was actual advertising costs incurred.

A chunk of their "money" is stuff given to them:

During the year ended September 30, 2010, the Organization received the following non-cash
contributions:
Media ad value $ 25,635,534
Advertising 6,944,205
Event tickets 533,838
Memberships 319,959
Backpack items 263,612
Other 236,467
Investments 56,268
Equipment 37,991

Total $ 34,027,874

They have $10.4 million in cash - stock investments.

I like a guy who knows how to read a financial statement.....and the Notes.
It's where the rubber meets the road. The 990s nowadays are hard to understand and make sense of.....and to prepare, even for the smallest of NPOs.

strelnik · #23 01-14-2014, 09:17 AM

Quote:

Originally Posted by Txjake

Not much goes to wounded warriors, mostly into organization cost & salaries...Consider giving to smaller, and more ethical charities, so that more money goes to the intended recipients. This applies to all charities.

http://www.veteranstoday.com/2013/12...-a-legal-scam/

We did one better: we hired one.

BobK · #24 01-14-2014, 09:35 AM

Here is their 990 for 2011. pagees 7 and 8 are interesting.
http://990s.foundationcenter.org/990_pdf_archive/202/202370934/202370934_201209_990.pdf

greazzer · #25 01-14-2014, 10:10 AM

248 folks on the payroll and a smidge over a dozen head honchos. Not sure that is a top heavy organization or a high level of worker bees for a big charitable organization. We have 10,000's of wounded warriors, so the "ratio" seems low IMO.