23RD VETERAN

EIN: 473420231 501(c)(3) Public & Societal Benefit

Duluth, MN

Total Revenue
$461,910
Total Expenses
$676,217
Total Assets
$222,344
Net Assets
$-288,508
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2015
Legal Domicile
MN
Principal Officer
Michael Waldron
Phone
2184602323
Tax Period
2024-01-01 to 2024-12-31

23RD VETERAN, founded in 2015, is a small nonprofit in the Public & Societal Benefit sector that reported $462K in total revenue in fiscal year 2024. Expenses of $676K exceeded revenue, resulting in a 46% operating deficit.

Mission

Provide happier, healthier lives for veterans living with trauma.

Program Service Accomplishments

Program 1
Expenses: $341,823 Revenue: $0

23V Recon Program: 12 week reconditioning program to train military and veterans to live comfortably and successfully in civilian society. The program encompasses positive psychology, fitness...

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23V Recon Program: 12 week reconditioning program to train military and veterans to live comfortably and successfully in civilian society. The program encompasses positive psychology, fitness, camaraderie, outdoor wellness and active exposure trigger retraining. In 2024, 23V Recon Groups XV, XVI, and XVII positively impacted the lives of veterans and civilians

Program 2
Expenses: $119,800 Revenue: $40,942

Community Engagement: Education for community groups, universities, military units, and employers. Training post-traumatic stress, why its common in military culture and how to create an environment...

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Community Engagement: Education for community groups, universities, military units, and employers. Training post-traumatic stress, why its common in military culture and how to create an environment more conducive for veterans. Ruck Life Ruck March: The Duluth Ruck Life held on June 1, 2024 had 306 ruckers. The Twin Cities Ruck Life held on September 7, 2024 had 330 ruckers.

Program 3
Expenses: $63,421 Revenue: $0

Bladesmithing: Sharp-art therapy program designed to motivate isolated veterans to take part in a weekly team event while creating a piece of usable art. The bladesmithing program is a way for 23V...

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Bladesmithing: Sharp-art therapy program designed to motivate isolated veterans to take part in a weekly team event while creating a piece of usable art. The bladesmithing program is a way for 23V Recon Graduates to remain engaged and share their experience in 23V Recon with other veterans who may be in need of our immersive 14-week program.

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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 $430,721
Program Service Revenue $40,942
Investment Income $0
Other Revenue $-9,753
TOTAL REVENUE $461,910

Expense Breakdown

Grants Paid $0
Salaries & Benefits $281,556
Fundraising Expenses $48,747
Program Expenses $525,044
Other Expenses $394,661
TOTAL EXPENSES $676,217

Year-over-Year Comparison

2024 2023 Change
Revenue $461,910 $485,926 0.0%
Expenses $676,217 $578,953 +0.2%
Net Income $-214,307 $-93,027 +1.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
2
Employees
11
Volunteers
212

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
3
$85,800
Total Directors
3
$85,800
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Michael Waldron Executive Director 40
Officer Director
$85,800 $0 $85,800
Nathan Helder Secretary/Chair 10
Officer Director
$0 $0 $0
Bryan Maslowski Treasurer 10
Officer 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
2024 $461,910 $676,217 $222,344 $-214,307
2023 $485,926 $578,953 $448,213 $-93,027
2022 $501,166 $660,468 $584,713 $-159,302
2021 $637,440 $541,393 $703,236 $96,047
2020 $240,664 $251,616 $259,956 $-10,952
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