QUILTS OF VALOR FOUNDATION

EIN: 202474691 501(c)(3) Human Services

WINTERSET, IA

Total Revenue
$2,037,016
Total Expenses
$1,921,846
Total Assets
$1,989,577
Net Assets
$1,924,930
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2005
Legal Domicile
DE
Principal Officer
LAURI LEIRDAHL
Phone
5157087689
Tax Period
2025-01-01 to 2025-12-31

QUILTS OF VALOR FOUNDATION, founded in 2005, is a community nonprofit in the Human Services sector that reported $2.0M in total revenue in fiscal year 2025. Expenses of $1.9M left a modest 6% surplus.

Mission

TO COVER SERVICE MEMBERS AND VETERANS TOUCHED BY WAR WITH COMFORTING AND HEALING QUILTS OF VALOR.

Program Service Accomplishments

Program 1
Expenses: $1,459,377

THE QUILTS OF VALOR FOUNDATION IS REPRESENTED BY APPROXIMATELY 10,000 VOLUNTEER MEMBERS LIVING IN THE UNITED STATES. QOVF GROUPS AND THEIR MEMBERS ACTIVELY SEEK DONATIONS FOR FABRIC, NOTIONS AND...

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THE QUILTS OF VALOR FOUNDATION IS REPRESENTED BY APPROXIMATELY 10,000 VOLUNTEER MEMBERS LIVING IN THE UNITED STATES. QOVF GROUPS AND THEIR MEMBERS ACTIVELY SEEK DONATIONS FOR FABRIC, NOTIONS AND OTHER SUPPLIES IN ORDER TO MAKE AND AWARD QOVS. OUR QUILTS ARE MADE TO MEET STANDARDS OF EXCELLENCE AND ARE AWARDED TO SERVICE MEMBERS AND VETERANS OF THE UNITED STATES MILITARY. THROUGH THEIR EFFORTS WE WERE ABLE TO REPORT THE COMPLETION OF AND AWARD OVER 35,068 QOVS IN 2025.

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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 (2025)

Revenue Breakdown

Contributions & Grants $1,926,179
Program Service Revenue $10,320
Investment Income $35,391
Other Revenue $65,126
TOTAL REVENUE $2,037,016

Expense Breakdown

Grants Paid $0
Salaries & Benefits $305,985
Fundraising Expenses $33,866
Program Expenses $1,459,377
Other Expenses $1,615,861
TOTAL EXPENSES $1,921,846

Year-over-Year Comparison

2025 2024 Change
Revenue $2,037,016 $2,046,773 0.0%
Expenses $1,921,846 $1,856,056 +0.0%
Net Income $115,170 $190,717 -0.4%
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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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
12
Independent Members
11
Employees
8
Volunteers
10276

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
5
$14,792
Total Directors
12
$14,792
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
NANCY BETH THOMSON DIRECTOR 2.00
Director
$0 $0 $0
LAURI LEIRDAHL PRESIDENT 15.00
Officer Director
$0 $0 $0
ANN REHBEIN TREASURER 15.00
Officer Director
$0 $0 $0
ROBIN KOEHLER DIRECTOR 2.00
Director
$0 $0 $0
JODI INMAN VICE PRESIDENT 2.00
Officer Director
$0 $0 $0
JOHN OXLEY DIRECTOR 4.00
Director
$0 $0 $0
JON NEUHAUS DIRECTOR 2.00
Director
$0 $0 $0
CHRISTINE HAMP DIRECTOR 2.00
Director
$0 $0 $0
KRYSTE WALLEN EXECUTIVE DIR. 40.00
Officer Director
$14,792 $0 $14,792
ANNA MAY NAUSS DIRECTOR 2.00
Director
$0 $0 $0
NANCY GRIGSBY SECRETARY 4.00
Officer Director
$0 $0 $0
JULIE DODDS DIRECTOR 2.00
Director
$0 $0 $0
LEXI MILLIKAN FORMER EXECUTIVE DIR. 40.00
$62,875 $0 $62,875
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 $2,037,016 $1,921,846 $1,989,577 $115,170
2024 $2,046,773 $1,856,056 $1,858,404 $190,717
2023 $1,713,162 $1,382,302 $1,663,795 $330,860
2022 $1,403,420 $1,183,015 $1,315,353 $220,405
2021 $1,330,384 $1,098,004 $1,117,654 $232,380
2020 $1,081,904 $949,941 $1,044,505 $131,963
2019 $1,144,710 $1,103,210 $749,068 $41,500
2018 $1,204,651 $1,044,946 $693,465 $159,705
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