VFW Post 1056

EIN: 341315965

Euclid, OH

Total Revenue
$328,025
Total Expenses
$107,634
Total Assets
$72,949
Net Assets
$72,949
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1979
Legal Domicile
OH
Principal Officer
Bernard Fenick
Tax Period
2024-07-01 to 2025-06-30

VFW Post 1056, founded in 1979, is a small nonprofit that reported $328K in total revenue in fiscal year 2024. Revenue surged 47% from the prior year, signaling strong growth momentum. The organization ran a surplus of $220K, a strong 67% operating margin.

Mission

Provide social services to veterans

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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 $23,489
Program Service Revenue $0
Investment Income $0
Other Revenue $304,536
TOTAL REVENUE $328,025

Expense Breakdown

Grants Paid $0
Salaries & Benefits $45,178
Fundraising Expenses $0
Other Expenses $62,456
TOTAL EXPENSES $107,634

Year-over-Year Comparison

2024 2023 Change
Revenue $328,025 $222,531 +0.5%
Expenses $107,634 $111,193 0.0%
Net Income $220,391 $111,338 +1.0%
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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
4
Independent Members
4
Employees
6
Volunteers
N/A

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
0
$0
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Bernard Fenick Quartermaster 025.00
Director
$0 $0 $0
Richard Pecnik Commander 025.00
Director
$0 $0 $0
Harold Sirk Sr. Vice Chair 025.00
Director
$0 $0 $0
Mike Walsh Jr. Vice Chair 025.00
Director
$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
2025 $328,025 $107,634 $72,949 $220,391
2024 No data No data No data No data
2023 $192,679 $122,264 $69,808 $70,415
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