In 2004, the Vietnam Veterans Wall South Foundation filed a report with the state to change its name to Pensacola Veterans Memorial Park Foundation (Wallnamechange).
The website GuideStar shows the Form 990 financial statements of non-profits. The Pensacola Veterans Memorial Park Foundation Income/Expense report for the year ended Dec. 31, 2011 is as follows:
Total Revenue: $6,690
Program Services $67,657
Total Expenditures: $71,652
Net Gain/Loss: ($64,962)
Based on the Balance Sheet, I assume that most of the Program Services expenses were depreciation and losses on investments.
|Cash & Equivalent||$7,888||$11,485||$3,597|
What is missing:
No receivable from the VFW post for the building that the Foundation bought and maintained for them. I guess the building could be under Fixed Assets.
No revenue from the VFW to pay off the “note” due the Foundation. Nathaniel Bass, current commander of Post 706, told the daily newspaper that the Post 706 stopped making lease payments in January. I guess those payments could be under Contributions, but that doesn’t agree with the PNJ report that the Post 706 was paying $500 to $1000 a month to the Foundation.
If what Joe Halsted told us is true, the Foundation had in 1993 $500,000 raised through the Defense Commissary Agency. That investment has appeared to dwindled down to $17,475 over the past 18 years.