VICE PRESIDENT'S RESIDENCE FOUNDATION

EIN: 521725927 501(c)(3) Arts, Culture & Humanities

BEVERLY, MA

Total Revenue
$4,967,004
Total Expenses
$1,182,269
Total Assets
$5,730,853
Net Assets
$5,726,173
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1991
Legal Domicile
DC
Principal Officer
CHRISTOPHER APPLEGATE
Phone
6173036800
Tax Period
2024-10-01 to 2025-09-30

VICE PRESIDENT'S RESIDENCE FOUNDATION, founded in 1991, is a community nonprofit in the Arts, Culture & Humanities sector that reported $5.0M in total revenue in fiscal year 2024. Revenue surged 481% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.8M, a strong 76% operating margin.

Mission

THE VICE PRESIDENT'S RESIDENCE FOUNDATION ASSISTS IN PRESERVING AND FURNISHING THE OFFICIAL RESIDENCE OF THE VICE PRESIDENT OF THE UNITED STATES.

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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 $4,925,000
Program Service Revenue $0
Investment Income $42,004
Other Revenue $0
TOTAL REVENUE $4,967,004

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $39,226
Program Expenses $1,085,306
Other Expenses $1,182,269
TOTAL EXPENSES $1,182,269

Year-over-Year Comparison

2024 2023 Change
Revenue $4,967,004 $855,259 +4.8%
Expenses $1,182,269 $444,242 +1.7%
Net Income $3,784,735 $411,017 +8.2%
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
6
Independent Members
6
Employees
N/A
Volunteers
6

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
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN ADDISON DIRECTOR 1.00
Director
$0 $0 $0
ROBERT HUGIN DIRECTOR 1.00
Director
$0 $0 $0
ANGELA PHILLIPS DIRECTOR 1.00
Director
$0 $0 $0
BRADLEY CRATE TREASURER & SECRETARY 1.00
Officer Director
$0 $0 $0
CHRISTOPHER APPLEGATE PRESIDENT 1.00
Officer Director
$0 $0 $0
JOHN UNDERWOOD CHAIR 1.00
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 $4,967,004 $1,182,269 $5,730,853 $3,784,735
2024 $855,259 $444,242 $1,941,438 $411,017
2023 $27,338 $499,787 $1,580,032 $-472,449
2022 $200,390 $474,956 $2,029,025 $-274,566
2021 $836,892 $302,768 $2,235,268 $534,124
2020 $49,033 $219,044 $1,701,144 $-170,011
2019 $903,896 $274,759 $1,846,155 $629,137
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