VETERANS OF FOREIGN WARS DEPARTMENT OF MASSACHUSETTS

EIN: 046126696

Needham, MA

Total Revenue
$110,225
Total Expenses
$139,684
Total Assets
$930,380
Net Assets
$930,380
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1933
Legal Domicile
MA
Principal Officer
Ken Greene
Phone
7814449797
Tax Period
2024-01-01 to 2024-12-31

VETERANS OF FOREIGN WARS DEPARTMENT OF MASSACHUSETTS, founded in 1933, is a small nonprofit that reported $110K in total revenue in fiscal year 2024. Revenue fell 33% from the prior year — a significant decline worth monitoring. Expenses of $140K exceeded revenue, resulting in a 27% operating deficit.

Mission

VFW Post 2498 is a veterans organization that provides support to local veterans of all services, strengthens comradeship with post members, provides for patriotic activities, and participates in education promoting veterans awareness issues and supports charitable activities in the community.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $4,600
Investment Income $142
Other Revenue $105,483
TOTAL REVENUE $110,225

Expense Breakdown

Grants Paid $0
Salaries & Benefits $28,400
Fundraising Expenses $0
Program Expenses $11,660
Other Expenses $111,284
TOTAL EXPENSES $139,684

Year-over-Year Comparison

2024 2023 Change
Revenue $110,225 $163,693 -0.3%
Expenses $139,684 $115,346 +0.2%
Net Income $-29,459 $48,347 -1.6%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
13
Independent Members
N/A
Employees
4
Volunteers
40

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
12
$0
Total Directors
10
$500
Key Employees
2
$500
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Ken Greene Post Quartermaster 10
Director Key Emp Highest
$500 $0 $500
Gene Caharny Post Commander 1
Officer Director
$0 $0 $0
Michael Raymond Trustee 1
Officer Director
$0 $0 $0
Tim Dooher Trustee 1
Officer Director
$0 $0 $0
Bill Bynes Director 1
Officer Director
$0 $0 $0
Joe Tierney Director 1
Officer Director
$0 $0 $0
Bob Barry Director 1
Officer Director
$0 $0 $0
William Hagar Director 1
Officer Director
$0 $0 $0
Glenn Mulno Director 1
Officer Director
$0 $0 $0
Ted Prorok Secretary/Director 1
Officer Director
$0 $0 $0
Charlie Wainwright Post Vice Commander 1
Officer Key Emp
$0 $0 $0
David Remsen Post Junior Vice Commander 1
Officer
$0 $0 $0
Dana Stores Trustee 1
Officer
$0 $0 $0
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
2024 $110,225 $139,684 $930,380 $-29,459
2023 $163,693 $115,346 $959,839 $48,347
2022 $123,662 $165,735 $911,492 $-42,073
2021 $228,627 $221,965 $953,565 $6,662
2020 $94,311 $98,248 $946,903 $-3,937
2019 $153,101 $111,999 $950,840 $41,102
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