Quilts Of Valor Foundation
Quilts Of Valor Foundation shows consistent revenue growth and strong financial health with no reported officer compensation.
EIN: 202474691 · Winterset, IA · NTEE: P58 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.2M |
| Total Expenses | $1.4M |
| Program Spending | 90% |
| Net Assets | $1.6M |
| Transparency Score | 95/100 |
Is Quilts Of Valor Foundation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Quilts Of Valor Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Quilts Of Valor Foundation
Quilts Of Valor Foundation (EIN: 202474691) is a nonprofit organization based in Winterset, IA, classified under NTEE code P58. The organization reported total revenue of $2.2M and total assets of $1.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Quilts Of Valor Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Quilts Of Valor Foundation is a mid-size nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2014–2023). Revenue has grown at a compound annual rate of 22.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.7M |
| Total Expenses | $1.4M |
| Surplus / Deficit | +$331K |
| Total Assets | $1.7M |
| Total Liabilities | $41K |
| Net Assets | $1.6M |
| Operating Margin | 19.3% |
| Debt-to-Asset Ratio | 2.5% |
| Months of Reserves | 14.4 months |
Financial Health Grade: A
In 2023, Quilts Of Valor Foundation reported a surplus of $331K with revenue exceeding expenses, holds 14.4 months of operating reserves (strong position), has a debt-to-asset ratio of 2.5% (very low leverage).
Financial Trends
Over 10 years of filings (2014–2023), Quilts Of Valor Foundation's revenue has grown at a compound annual growth rate (CAGR) of 22.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +22.1% | +16.8% | +26.5% |
| 2022 | +5.5% | +7.7% | +17.7% |
| 2021 | +23.0% | +15.6% | +7.0% |
| 2020 | -5.5% | -13.9% | +39.4% |
| 2019 | -5.0% | +5.6% | +8.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Quilts Of Valor Foundation with a Mission Score of 95 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Quilts Of Valor Foundation allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $331K, with revenue exceeding expenses.
- Debt-to-asset ratio: 2.5%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating a volunteer-led executive structure that maximizes resources for program delivery.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Quilts Of Valor Foundation:
- Consistent and significant revenue growth, from $281,920 in 2014 to $1,713,162 in 2023.
- Zero reported officer compensation across all filings, indicating a highly efficient, volunteer-driven leadership.
- Healthy and growing asset base, increasing from $158,628 in 2014 to $1,663,795 in 2023.
- Expenses consistently lower than revenue, allowing for asset accumulation and financial stability.
- Low liabilities relative to assets and revenue, suggesting prudent financial management.
Frequently Asked Questions about Quilts Of Valor Foundation
Is Quilts Of Valor Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Quilts Of Valor Foundation (EIN: 202474691) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Quilts Of Valor Foundation spend its money?
Quilts Of Valor Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Quilts Of Valor Foundation tax-deductible?
Quilts Of Valor Foundation is registered as a tax-exempt nonprofit (EIN: 202474691). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Quilts Of Valor Foundation's spending goes to programs?
Quilts Of Valor Foundation directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Quilts Of Valor Foundation compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), Quilts Of Valor Foundation is above average for NTEE category P58 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Quilts Of Valor Foundation located?
Quilts Of Valor Foundation is headquartered in Winterset, Iowa and files with the IRS under EIN 202474691. It is classified under NTEE code P58.
How many years of IRS 990 filings does Quilts Of Valor Foundation have?
Quilts Of Valor Foundation has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.2M in total revenue.
Is Quilts Of Valor Foundation a good charity?
Based on the provided IRS 990 data, Quilts Of Valor Foundation appears to be a very good charity. It demonstrates strong financial health, consistent revenue growth, and a remarkable commitment to its mission by reporting no officer compensation, ensuring more funds go directly to programs.
How has the organization's revenue grown over time?
The organization has experienced significant revenue growth, increasing from $281,920 in 2014 to $1,713,162 in 2023, representing an increase of over 500% in a decade.
What is the organization's approach to executive compensation?
The Quilts Of Valor Foundation reports 0% officer compensation in all available filings, indicating that its leadership is entirely volunteer-based, which is a strong positive for donor confidence and program efficiency.
Filing History
IRS 990 filing history for Quilts Of Valor Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2014–2023), Quilts Of Valor Foundation's revenue has grown by 507.7%, moving from $282K to $1.7M. Total assets increased by 948.9% over the same period, from $159K to $1.7M. Total functional expenses rose by 452.7%, from $250K to $1.4M. In its most recent filing year (2023), Quilts Of Valor Foundation reported a surplus of $331K, with revenue exceeding expenses. The organization holds $41K in liabilities against $1.7M in assets (debt-to-asset ratio: 2.5%), resulting in net assets of $1.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.7M | $1.4M | $1.7M | $41K | — | — |
| 2022 | $1.4M | $1.2M | $1.3M | $31K | — | — |
| 2021 | $1.3M | $1.1M | $1.1M | $36K | — | View 990 |
| 2020 | $1.1M | $950K | $1.0M | $182K | — | View 990 |
| 2019 | $1.1M | $1.1M | $749K | $22K | — | View 990 |
| 2018 | $1.2M | $1.0M | $693K | $11K | — | View 990 |
| 2017 | $830K | $659K | $535K | $11K | — | View 990 |
| 2016 | $595K | $467K | $363K | $10K | — | View 990 |
| 2015 | $393K | $310K | $232K | $8K | — | View 990 |
| 2014 | $282K | $250K | $159K | $100K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.7M, expenses of $1.4M, and assets of $1.7M (revenue +22.1% year-over-year).
- 2022: Revenue of $1.4M, expenses of $1.2M, and assets of $1.3M (revenue +5.5% year-over-year).
- 2021: Revenue of $1.3M, expenses of $1.1M, and assets of $1.1M (revenue +23.0% year-over-year).
- 2020: Revenue of $1.1M, expenses of $950K, and assets of $1.0M (revenue -5.5% year-over-year).
- 2019: Revenue of $1.1M, expenses of $1.1M, and assets of $749K (revenue -5.0% year-over-year).
- 2018: Revenue of $1.2M, expenses of $1.0M, and assets of $693K (revenue +45.1% year-over-year).
- 2017: Revenue of $830K, expenses of $659K, and assets of $535K (revenue +39.5% year-over-year).
- 2016: Revenue of $595K, expenses of $467K, and assets of $363K (revenue +51.5% year-over-year).
- 2015: Revenue of $393K, expenses of $310K, and assets of $232K (revenue +39.4% year-over-year).
- 2014: Revenue of $282K, expenses of $250K, and assets of $159K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Quilts Of Valor Foundation:
Data Sources and Methodology
This transparency report for Quilts Of Valor Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.