Veterans of Foreign Wars Department of Illinois Goldsmith-Terry VFW Post 3523

EIN: 370674775

Carlyle, IL

Total Revenue
$152,113
Total Expenses
$177,431
Total Assets
$228,544
Net Assets
$228,544
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1983
Legal Domicile
IL
Principal Officer
Gale Gehrs
Phone
6185948039
Tax Period
2024-07-01 to 2025-06-30

Veterans of Foreign Wars Department of Illinois Goldsmith-Terry VFW Post 3523, founded in 1983, is a small nonprofit that reported $152K in total revenue in fiscal year 2024. Revenue decreased 8% compared to the prior year. Expenses of $177K exceeded revenue, resulting in a 17% operating deficit.

Mission

Mission of Goldsmith-Terry Post No. 3523, Veterans of Foreign Wars consists of veterans advocacy, historical education and commemoration, encouraging national security through support of our nation's men and women in uniform, promoting good citizenship and community service, encouraging America's youth to excel in athletics, community service and academics, facilitating direct assistance to needy military personnel and their families and to veterans and supporting actions and activities that further these missions and promote the social well being of veterans and their families.

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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 $4,741
Program Service Revenue $7,114
Investment Income $2,575
Other Revenue $137,683
TOTAL REVENUE $152,113

Expense Breakdown

Grants Paid $12,855
Salaries & Benefits $97,443
Fundraising Expenses $0
Other Expenses $67,133
TOTAL EXPENSES $177,431

Year-over-Year Comparison

2024 2023 Change
Revenue $152,113 $164,522 -0.1%
Expenses $177,431 $190,650 -0.1%
Net Income $-25,318 $-26,128 0.0%
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
7
Independent Members
7
Employees
15
Volunteers
11

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
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
David Beckmann Trustee 1.00
Director
$0 $0 $0
John Barrett Trustee 1.00
Director
$0 $0 $0
Michael Voss Trustee 1.00
Director
$0 $0 $0
Daniel Wilken Jr Vice Comm 1.00
Officer
$0 $0 $0
Richard Schulte Sr Vice Comm 3.00
Officer
$0 $0 $0
Gale Gehrs Quartermaster 20.00
Officer
$0 $0 $0
Kenneth Goodman Commander 20.00
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
2025 $152,113 $177,431 $228,544 $-25,318
2024 $164,522 $190,650 $256,563 $-26,128
2023 $169,129 $181,157 $279,990 $-12,028
2022 $179,861 $140,779 $292,018 $39,082
2021 $130,657 $113,318 $252,936 $17,339
2020 $111,540 $101,152 $235,597 $10,388
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