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CHARITY REVIEW
Issued: December 2024 Expires: December 2026

Children of Fallen Patriots Foundation

Accredited Charity
Accredited Charity

Meets Standards
Accreditation seal
(866) 917-2373
1818 Library Street, Suite 500
Reston, VA, 20190
https://fallenpatriots.org/
📄 Full Report 🖨️ Print 📋 BBB Charity Standards

Standards For Charity Accountability

Governance

  1. Board Oversight
  2. Board Size
  3. Board Meetings
  4. Board Compensation
  5. Conflict of Interest

Measuring Effectiveness

  1. Effectiveness Policy
  2. Effectiveness Report

Finances

  1. Program Expenses
  2. Fundraising Expenses
  3. Accumulating Funds
  4. Audit Report
  5. Detailed Expense Breakdown
  6. Accurate Expense Reporting
  7. Budget Plan

Fundraising & Info

  1. Truthful Materials
  2. Annual Report
  3. Website Disclosures
  4. Donor Privacy
  5. Cause Marketing Disclosures
  6. Complaints

Children of Fallen Patriots Foundation meets the 20 Standards for Charity Accountability.

Stated Purpose:
"to provide college scholarships and educational counseling to military children who have lost a parent in the line of duty."

Year, State Incorporated:
2002, DE

Children of Fallen Patriots Foundation (CFPF) provides college scholarships, including tuition, living expenses, books, transportation and computers, to children of fallen service members from the United States Army, Navy, Marines, Air Force or Coast Guard. The organization also helps children of fallen service members with SAT/ACT preparation support, internships, and career placements with corporate partners.

For the year ended December 31, 2023, Children of Fallen Patriots Foundation's program expenses were:

Program services $13,108,790
Total Program Expenses $13,108,790

Chief Executive
David Y. Kim, Chief Executive Officer

Chair of the Board
Thomas M. McGann

Chair's Profession / Business Affiliation
Executive Chairman, Velocity Outdoor Inc.

Board Size
6

Paid Staff Size
28

*2023 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.

Note: CFPF reports that its Chief Executive Officer, David Y. Kim, receives no compensation. According to the organization's 2023 IRS Form 990, its highest paid executive was Peter Hogarth, Chief Financial Officer and Co-Chief of Staff, who received compensation of $352,818. 

Method(s) Used:
Grant proposals, Internet, Direct mail appeals, Radio, Special events, Foundation grants, Print advertisements

Fundraising costs were 10% of related contributions. (Related contributions, which totaled $12,661,521, are donations received as a result of fundraising activities.)

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.

The following information is based on Children of Fallen Patriots Foundation's audited financial statements for the year ended December 31, 2023.

Source of Funds
Investment return, net $563,360
In-kind contributions $859,043
Special events, net $4,380,181
Grants and contributions $7,422,297
Total Income $13,224,881

Programs: 86% Fundraising: 9% Administrative: 5%

Total Income $13,224,881
Total expenses: $15,158,024
  Program expenses $13,108,790
  Fundraising expenses $1,303,962
  Administrative expenses $745,272
  Other expenses $0
Income in Excess of Expenses $-1,933,143
Beginning Net Assets $18,075,570
Other Changes In Net Assets $0
Ending Net Assets $16,142,427
Total Liabilities $148,635
Total Assets $16,291,062

Note: As reported by the organization's 2023 audited financial statements, CFPF received in-kind contributions of $859,043 including donated services ($769,343) and office space ($89,700).

An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.

This report is not to be used for fundraising or promotional purposes.

RELATED CONTENT

Report completed by:
BBB Wise Giving Alliance