Overview
What is Veterans Enterprise Training & Services Group Inc?
Veterans Enterprise Training & Services Group Inc, also known as VETS Group or VETS Group Training Academy, is a nonprofit organization based in Washington D.C. (1200 18TH STREET NW). Their primary mission is to empower veterans, their families, and the community by offering comprehensive education, employment, and entrepreneurship programs. This holistic approach includes small business support and financial literacy courses. In fiscal year 2022, they enrolled 86 students in their IT employment training program, with a high retention rate of 92%. A significant portion, approximately 80%, of these students secured employment, and 83% obtained industry-recognized certifications. Notably, about 37% of the enrolled students were veterans.
Official website here: www.vetsgroup.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, Two-Star out of Four Star rating.
Veterans Enterprise Training & Services Group Inc demonstrates solid accountability and finance practices, achieving a strong program expense ratio of 83.80%, indicating that a significant portion of its budget is allocated to its programs. The organization also boasts a fully independent board, with 100% of board members meeting independence criteria, which enhances its governance structure. However, the overall rating reflects concerns regarding the financial health of the organization, particularly the high liabilities to assets ratio of 186.07%, which may signal potential financial instability.
Despite its strengths, the organization lacks certain key governance policies, specifically a whistleblower policy and a document retention policy, both of which were noted as missing. Additionally, the tax form is not posted on the nonprofit's website, which could affect transparency. While the charity exhibits good practices in some areas, these limitations could raise questions for potential donors regarding overall operational effectiveness and transparency.
This AI summary has been generated from information found on Charity Navigator.
Is Veterans Enterprise Training & Services Group Inc legitimate?
Veterans Enterprise Training & Services Group Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Veterans Enterprise Training & Services Group Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $189,924
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.vetsgroup.org
What is the mission statement of Veterans Enterprise Training & Services Group Inc?
Veterans Enterprise Training & Services Group Inc's mission is to provide a comprehensive program aimed at economically empowering veterans, their families, and the wider community. This is achieved through education, employment, and entrepreneurship opportunities. The organization offers small business and financial literacy training. In the fiscal year 2022, they had 86 students enrolled in their IT employment training program, with a high retention rate of 92%. Currently, 80% of these students are employed, and 83% have obtained one or more industry-recognized certifications. A significant number of enrolled students, approximately 37%, are veterans.
Official website here: www.vetsgroup.org
What is the revenue of Veterans Enterprise Training & Services Group Inc?
Veterans Enterprise Training & Services Group Inc's revenue in 2023 was $550,558.
Official website here: www.vetsgroup.org
Who are the executives of Veterans Enterprise Training & Services Group Inc and what are their salaries?
The average compensation at Veterans Enterprise Training & Services Group Inc during 2023 was $94,962. There are 2 employees and 3 volunteers at Veterans Enterprise Training & Services Group Inc.
Here are 5 key members and their salaries:
- Compensation: $189,924
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.vetsgroup.org
Where can I find the form 990 for Veterans Enterprise Training & Services Group Inc?
Veterans Enterprise Training & Services Group Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.vetsgroup.org
Learn more at the official website: www.vetsgroup.org
Mission Statement of Veterans Enterprise Training & Services Group Inc
Veterans Enterprise Training & Services Group Inc is dedicated to providing a comprehensive program designed to empower veterans, their families, and the community. Their mission revolves around fostering economic growth through education, employment, and entrepreneurship. The organization offers various resources, including small business training and financial literacy programs.
In concrete terms, Veterans Enterprise Training & Services Group Inc aims to equip veterans with the necessary skills to achieve financial independence. They offer IT employment training programs, where in the fiscal year 2022, 86 individuals enrolled in at least one of their IT training programs. The organization boasts a high retention rate of 92%, with 80% of these students currently employed. Furthermore, 83% of the students obtained one or more industry-recognized certifications, with many more pending.
In summary, Veterans Enterprise Training & Services Group Inc's mission is to provide a comprehensive program that empowers veterans, their families, and the community by offering education, employment, and entrepreneurship opportunities. Their IT employment training program is a prime example of their commitment to helping veterans secure stable jobs and gain valuable industry certifications.
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Impact
July, 2024
Veterans Enterprise Training & Services Group Inc has made a significant impact by providing a holistic program for veterans, their families, and the community to achieve economic empowerment through education, employment, and entrepreneurship. By offering small business and financial literacy programs, as well as information technology employment training, the organization has successfully enrolled 86 students in its IT training programs in fiscal year 2022.
With an impressive student retention rate of 92%, 80% of the enrolled students are currently employed. Additionally, 83% of them have obtained one or more industry-recognized certifications, with many others pending certification. Notably, about 37% of the students enrolled in the program were veterans, highlighting the organization's commitment to supporting this particular demographic.
Overall, Veterans Enterprise Training & Services Group Inc's emphasis on education, employment, and entrepreneurship has had a tangible impact on the lives of veterans, their families, and the broader community, leading to economic empowerment and improved opportunities for its participants.
This information is meant to be a general summary of Veterans Enterprise Training & Services Group Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Program Service Revenue: $136,601
- Gross Receipts: $550,558
Assets and Liabilities:
- Total Assets: $435,801
- Total Liabilities: $306,568
- Net Assets: $129,233
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
IT TRAINING/EMPLOY OPP
Revenue
$136,601
Organization Details
Founding Year
2004
Principal Officer
Joe Wynn
Website
www.vetsgroup.orgNTEE Category
Code: S43 - Community improvement
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