VETERANS INC

EIN: 043098024 501(c)(3) Community Improvement

WORCESTER, MA

Total Revenue
$26,213,790
Total Expenses
$23,525,194
Total Assets
$29,480,465
Net Assets
$22,628,065
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1990
Legal Domicile
MA
Principal Officer
VINCENT PERRONE JR
Phone
8004822565
Tax Period
2023-07-01 to 2024-06-30

VETERANS INC, founded in 1990, is a mid-sized nonprofit in the Community Improvement sector that reported $26.2M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $23.5M left a modest 10% surplus.

Mission

VETERANS INC.'S MISSION IS TO END HOMELESSNESS AMONG VETERANS BY HELPING VETERANS REGAIN CONTROL OF THEIR LIVES. WE BELIEVE THAT ALL VETERANS HAVE EARNED RESPECT AND GRATITUDE FROM OUR NATION. THIS BELIEF IS TRANSLATED INTO THE PHILOSOPHY THAT UNDERLIES ALL OF OUR WORK. "THEY WERE THERE WHEN WE NEEDED THEM. WE MUST BE THERE NOW THAT THEY NEED US." AT VETERANS INC. WE AIM TO REMAIN A LEADING PROVIDER OF SERVICES FOR VETERANS AND THEIR FAMILIES BY PROVIDING THE HIGHEST QUALITY SERVICES.

Program Service Accomplishments

Program 1
Expenses: $8,168,718 Revenue: $9,589,436

HEALTH AND WELLNESS AND BEHAVIORAL HEALTH CARE - THE ORGANIZATION PROVIDES PHYSICAL, MENTAL, AND EMOTIONAL CARE THAT HELPS INDIVIDUALS DEVELOP COPING MECHANISMS AND SUPPORTS REINTEGRATION INTO...

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HEALTH AND WELLNESS AND BEHAVIORAL HEALTH CARE - THE ORGANIZATION PROVIDES PHYSICAL, MENTAL, AND EMOTIONAL CARE THAT HELPS INDIVIDUALS DEVELOP COPING MECHANISMS AND SUPPORTS REINTEGRATION INTO FAMILIES AND COMMUNITIES. THIS CARE CONTRIBUTES TO THE SUCCESS OF THE ORGANIZATION IN REDUCING HOMELESSNESS. THE ORGANIZATION HAS BEEN ON THE VANGUARD OF TREATMENT DELIVERY FOR SUBSTANCE ADDICTION BY BECOMING THE FIRST VETERAN-FOCUSED ORGANIZATION TO CREATE A FULL ARRAY OF LICENSED DIRECT CARE SERVICES. INPATIENT AND OUTPATIENT SUBSTANCE ABUSE TREATMENT LICENSED BY THE MASSACHUSETTS DEPARTMENT OF PUBLIC HEALTH AND ACCREDITED BY THE COMMISSION OF ACCREDITATION OF REHABILITATION FACILITIES ARE AVAILABLE AT INDEPENDENCE HALL IN SHREWSBURY, MASSACHUSETTS AND IN WORCESTER, MASSACHUSETTS LOCATIONS. LEVELS OF CARE PROVIDED INCLUDE INPATIENT CLINICAL STABILIZATION SERVICES, INPATIENT RESIDENTIAL RECOVERY SUPPORT FOR THOSE WITH CO-OCCURRING SUBSTANCE USE DISORDER AND MENTAL HEALTH ISSUES, INTENSIVE OUTPATIENT DAY TREATMENT, OUTPATIENT COUNSELING, AND MEDICATION ASSISTED TREATMENT. RESEARCH HAS DEMONSTRATED THAT SEPARATION FROM THE MILITARY INCREASES THE RISK OF DEVELOPING OR WORSENING SUBSTANCE ABUSE RELATED PROBLEMS. WHEN LEAVING THE MILITARY, DRUG AND ALCOHOL PROBLEMS CAN FURTHER COMPLICATE THE TRANSITION TO CIVILIAN LIFE AND CAN HAVE A SERIOUS IMPACT ON PERSONAL RELATIONSHIPS. THE ORGANIZATION OFFERS THIS EVIDENCE-BASED TREATMENT PROGRAM FOR MALES AND FEMALES, PRIORITIZING VETERANS, DELIVERING SERVICES WITH CULTURAL SKILL AND SENSITIVITY, WITH SPECIAL EXPERTISE IN THE VETERAN'S CULTURE, AND IS CONSIDERED THE FIRST OF ITS KIND IN THE COUNTRY TO BE OPERATED BY A COMMUNITY NON-PROFIT VETERANS ORGANIZATION.

Program 2
Expenses: $7,937,481

OUTREACH AND SUPPORTIVE SERVICES PROGRAM - THE OUTREACH PROGRAM OFFERS TRAINING, THERAPEUTIC GROUP SESSIONS, INDIVIDUAL COUNSELING, BENEFITS COUNSELING AND ADVOCACY, HEALTHCARE AND BENEFIT...

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OUTREACH AND SUPPORTIVE SERVICES PROGRAM - THE OUTREACH PROGRAM OFFERS TRAINING, THERAPEUTIC GROUP SESSIONS, INDIVIDUAL COUNSELING, BENEFITS COUNSELING AND ADVOCACY, HEALTHCARE AND BENEFIT ENROLLMENT, EMPLOYMENT SUPPORT, TRANSPORTATION, AND OTHER SUPPORT SERVICES SUCH AS FOOD AND CLOTHING. THE PROGRAM FOCUSES ON THE REMOVAL OF BARRIERS THAT PREVENT PEOPLE FROM RECEIVING CRITICAL SERVICES. SUPPORTIVE SERVICES TO VETERAN FAMILIES FOCUS ON HOUSING STABILIZATION WHICH OFFERS CASE MANAGEMENT, LEGAL SERVICES, HEALTHCARE NAVIGATION, AND TEMPORARY FINANCIAL ASSISTANCE TO HELP LOW-INCOME FAMILIES OBTAIN OR REMAIN IN HOUSING. ALSO OFFERED IS SUICIDE PREVENTION SUPPORT THAT EMPLOYS A PUBLIC HEALTH APPROACH THAT BLENDS COMMUNITY-BASED PREVENTION WITH EVIDENCE-BASED CLINICAL STRATEGIES WITH A GOAL TO REDUCE VETERAN SUICIDE RISK, IMPROVE BASELINE MENTAL HEALTH STATUS, WELL-BEING, AND SOCIAL SUPPORT, AND IMPROVE FINANCIAL STABILITY FOR INDIVIDUALS AND THEIR FAMILIES. THE ORGANIZATION ALSO PROVIDES HOUSING RETENTION ASSISTANCE FOR VETERANS WHO HAVE TRANSITIONED INTO THEIR OWN PERMANENT LIVING SITUATION AND MAINTAINS A NATION TOLL-FREE CALL CENTER TO PROVIDE VETERANS AND THEIR FAMILY MEMBERS WITH NEEDED SUPPORT, REFERRALS TO OTHER SERVICES, AS WELL AS TO ANSWER GENERAL INQUIRIES ON VETERANS' SERVICES.

Program 3
Expenses: $3,479,924 Revenue: $61,515

SUPPORTIVE HOUSING FOR VETERANS - THE PROGRAM PROVIDES THE BASIC HUMAN NEEDS OF FOOD, CLOTHING, AND RESIDENTIAL SERVICES TO HOMELESS VETERANS. THE ORGANIZATION OPERATES MULTIPLE FACILITIES FOR...

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SUPPORTIVE HOUSING FOR VETERANS - THE PROGRAM PROVIDES THE BASIC HUMAN NEEDS OF FOOD, CLOTHING, AND RESIDENTIAL SERVICES TO HOMELESS VETERANS. THE ORGANIZATION OPERATES MULTIPLE FACILITIES FOR VETERANS ACROSS NEW ENGLAND. PROGRAMS VARY BY SITE FROM EMERGENCY SHELTER AND BARRACK STYLE LIVING TO SINGLE ROOM OCCUPANCY UNITS WITH SHARED COMMON SPACES, TO INDEPENDENT APARTMENT STYLE LIVING. ALL SITES PROVIDE SUPPORTIVE SERVICES ONSITE THROUGH CASE MANAGERS AND SITE COORDINATORS. THE ORGANIZATION WORKS WITH EACH VETERAN TO DEVELOP AN INDIVIDUAL SERVICE PLAN TO MEET THEIR NEEDS. THE GOALS OF THE PROGRAM ARE FOR CLIENTS TO IMPROVE THEIR MENTAL HEALTH STATUS AND RESIDENTIAL STABILITY, INCREASE THEIR SKILL LEVEL OR INCOME, AND ACHIEVE GREATER SELF-DETERMINATION.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $15,919,535
Program Service Revenue $9,466,719
Investment Income $617,394
Other Revenue $210,142
TOTAL REVENUE $26,213,790

Expense Breakdown

Grants Paid $2,532,350
Salaries & Benefits $14,916,747
Fundraising Expenses $230,848
Program Expenses $21,670,699
Other Expenses $6,076,097
TOTAL EXPENSES $23,525,194

Year-over-Year Comparison

2023 2022 Change
Revenue $26,213,790 $23,466,512 +0.1%
Expenses $23,525,194 $21,066,172 +0.1%
Net Income $2,688,596 $2,400,340 +0.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
9
Independent Members
7
Employees
310
Volunteers
409

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$523,702
Total Directors
9
$523,702
Key Employees
2
$401,156
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
VINCENT PERRONE JR PRESIDENT & CEO 40.00
Officer Director
$261,814 $4,367 $266,181
DENIS M LEARY VP & EXEC. DIRECTOR 40.00
Officer Director
$244,864 $12,657 $257,521
GEORGE M BOURISK TREASURER 1.00
Officer Director
$0 $0 $0
ROLAND BERCUME SECRETARY 1.00
Officer Director
$0 $0 $0
PATRICK MURPHY DIRECTOR 0.25
Director
$0 $0 $0
STANLEY M JONUTIS DIRECTOR 0.25
Director
$0 $0 $0
VICTORIA VITUCCI DIRECTOR 0.25
Director
$0 $0 $0
RALPH D SABATINO PHD DIRECTOR 0.25
Director
$0 $0 $0
EDWARD D BURKART JR DIRECTOR 0.25
Director
$0 $0 $0
ALLISON ALAIMO SR. VP FINANCE, DEV & ADMIN 40.00
Key Emp
$209,670 $33,963 $243,633
AMANDA R HERRON ASST. VP OF ADMIN. & EMPLOYEE RELATIONS 40.00
Key Emp
$153,479 $4,044 $157,523
AJ MERCIER DIR. OF SPECIAL PROJ. & OPERATIONS 40.00
Highest
$102,000 $2,975 $104,975
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $26,213,790 $23,525,194 $29,480,465 $2,688,596
2023 $23,466,512 $21,066,173 $27,011,039 $2,400,339
2023 $23,466,512 $21,066,172 $27,011,040 $2,400,340
2022 $21,842,562 $17,382,682 $23,448,065 $4,459,880
2022 $21,842,562 $17,382,675 $23,448,065 $4,459,887
2021 $18,421,251 $16,015,492 $18,232,415 $2,405,759
2021 $18,440,204 $16,015,474 $18,236,837 $2,424,730
2020 $12,658,312 $11,714,651 $17,123,846 $943,661
2019 $11,563,533 $11,090,471 $15,191,485 $473,062
2018 $11,922,840 $11,835,696 $14,909,621 $87,144
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