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Author Topic: Pretty good charity donation for the military vets from outdoor store  (Read 4928 times)

ShooterScott

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It looks like OpticsPlanet is donating a portion of each purchase to a charity that supports military vets and their families.  This is something that is very close to my heart, so I thought I'd share:

https://www.opticsplanet.com/u-spcema-cause-based-brands82018.html
IllinoisSuper hunter and avid outdoors many, full time job of marketing rep for AR15s Blogger

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    coelacanth

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    Re: Pretty good charity donation for the military vets from outdoor store
    « Reply #1 on: August 29, 2018, 08:24:15 pm »
    Haven't heard of this one.  I'll have to check it out. 
    Arizona" A republic, if you can keep it."

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    cpaspr

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    Re: Pretty good charity donation for the military vets from outdoor store
    « Reply #2 on: August 29, 2018, 09:38:23 pm »
    Haven't heard of this one.  I'll have to check it out. 

    Haven't heard of them either.  As an accountant, I've found that a good place to check out 501(c)3 charities is http://foundationcenter.org/find-funding/990-finder.  So, lets see what a little analysis shows us.

    Typing in "Hope for the Warriors" in the organization name box and hitting Search brings up four results that all appear to be for the same organization.  Clicking on the 2016 return lets you either see, or save a copy of, their latest return.  It's 46 pages long, but the important parts are pages 7-10.  Page 1 shows total revenue of $8,895,371.  Page 7 shows that the president & CEO makes $161,491.  Page 9 shows where their money comes from.  Pg 11 shows us that at the end of the year they're sitting on about $4.5 million in cash.  Interest on that per page 9 was only $4,105, less than 1%, so nothing special.  Page 10 is what I consider the most important page.  It shows where the money goes.  Page 1 shows us that they have 59 employees.  Page 10 shows that salaries other than to the CEO are $2,772,721.  So, $2,772,721 / 58 employees = an average salary of $47,805.  Not too exorbitant.  Benefits are a bit less than 9% when factoring the CEO back in, which isn't too bad.  However, the most important numbers on this page to me, are the first two.  Grants to domestic organizations and individuals.  Less than 10%.  6.9% of which goes to individuals.  Not that great, but maybe not that bad.  Their accounting fees seem high to me, but per pg 12 they had an audit performed.  Those aren't cheap.  $518k spent on advertising & promotion and fundraising is 9.3% of their total income.  Probably acceptable.

    Let's compare them to Wounded Warrior Project.

    On the 2016 Form 990 pg 9 shows that WWP made $7,154,408 on their investments.  Compared to the end of year cash, that's almost 3%.  Pretty good return.  And another $2.9M for licensing their name.  WWP has 19 key employees and/or officers making over $150k per year equivalent (some amounts are for partial year employment), most over $200k equivalent and three over $300k.  $226,764,438 of total revenue.  713 employees not listed on the key employees/officers list made $34,657,280, or an average of $48,608 each.  Very similar salaries and wages for the average employees.  However, add back the highly compensated employees, and the benefits are 21.53%.  Pretty good benies by comparison. Their accounting fees seem quite high to me.  There's a lot more in that figure than just prep of the annual tax return.  Pg 12 shows that they had an audit performed, but that still seems high to me.  And finally, on to the important figures:  Lines 1 & 2.  16.9% going to domestic organizations and individuals.  But only .4% of that actually finds its way to direct individuals.  Also, 20.4% of their revenue goes to advertising & promotion and fundraising and direct response expenses.  While only 7.8% goes to "Warrior Events", whatever that means. 

    So, that's my quick and dirty analysis, compared to another well-known veteran oriented charity.
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    coelacanth

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    Re: Pretty good charity donation for the military vets from outdoor store
    « Reply #3 on: August 29, 2018, 11:31:58 pm »
    Thanks for doing the grunt work for us.   :thumbup1   I think when I want to help a veteran I'll continue to act on my own instead of just giving money to somebody else and hoping it ends up where they'd like me to think it does.   :coffee
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    booksmart

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    Re: Pretty good charity donation for the military vets from outdoor store
    « Reply #4 on: August 30, 2018, 08:35:22 am »
    If I'm going to give money to a charity, I like to see a higher percentage going directly to individuals.  Hope for the Warriors sounds like they do a better job at that than Wounded Warriors...  :coffee

    Also, I've bought stuff from OpticsPlanet before, and never had a bad transaction.

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