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CHARITY REVIEW
Issued: February 2025 Expires: February 2027

Green Beret Foundation

Standards Not Met
Standards Not Met
6 7 14 19
(844) 287-7133
15618 Summit Park Drive, Suite 801
Montgomery, TX, 77356
https://greenberetfoundation.org/
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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

Green Beret Foundation does not meet the following 4 Standards for Charity Accountability:

Standard 6 (Board Policy on Effectiveness)
Have a board policy of assessing, no less than every two years, the organization's performance and effectiveness and of determining future actions required to achieve its mission.

GBF does not meet this Standard because:

  • The board of directors does not have a written policy stating that, at least every two years, an appraisal be done assessing the organization’s performance and effectiveness and determining future actions required to achieve its mission.

Standard 7 (Board Approval of Written Report on Effectiveness)
Submit to the organization's governing body, for its approval, a written report that outlines the results of the aforementioned performance and effectiveness assessment and recommendations for future actions.

GBF does not meet this Standard because:

  • The organization has not completed an effectiveness assessment in the last two years.

Standard 14 (Budget)
Have a board-approved annual budget for its current fiscal year, outlining projected expenses for major program activities, fund raising, and administration.

GBF does not meet this Standard because, when the organization provided 2024 budget information, it indicated that the budget:

  • Did not identify total projected program service expenses, broken down by major program category (casualty support, family support, Gold Star Families, health and wellness support, and transition support).
  • Did not identify total projected fundraising expenses.
  • Did not identify total projected administrative expenses.

Standard 19 (Cause Related Marketing)
Clearly disclose how the charity benefits from the sale of products or services (i.e., cause-related marketing) that state or imply that a charity will benefit from a consumer sale or transaction. Such promotions should disclose, at the point of solicitation: (a) the actual or anticipated portion of the purchase price that will benefit the charity (e.g., 5 cents will be contributed to abc charity for every xyz company product sold), (b) the duration of the campaign (e.g., the month of October), (c) any maximum or guaranteed minimum contribution amount (e.g., up to a maximum of $200,000).

GBF does not meet this Standard because, in the past year, the organization participated in promotions which indicated that the organization would benefit from purchases of goods. The promotions, however, did not specify:

  • The actual or anticipated amount of the purchase price that would benefit the organization.

The BBB Wise Giving Alliance requested but did not receive complete information from the organization and is unable to verify the organization's compliance with the following Standard(s) for Charity Accountability: 13, 16

Green Beret Foundation meets the remaining 14 Standards for Charity Accountability.

Stated Purpose:
"to provide Special Forces Soldiers and their families with the right resources to prosper and thrive."

Year, State Incorporated:
2010, CA

Green Beret Foundation (GBF) provides emergent, immediate, and ongoing support for wounded, ill, and injured members and former service members of the United States Army Special Forces Regiment and their family members. This support is also extended to the surviving family members of those service members who were killed in action or died due to disease, injury, or condition in the line of duty, during training, or during active-duty service. GBF is also legally able to prepare, present, and prosecute Veterans Affairs disability claims.

For the year ended December 31, 2023, Green Beret Foundation's program expenses were:

Casualty support: $28,581

Health and wellness support: $783,184

Transition support: $922,080

Gold Star Families: $38,604

Family support: $648,769

Total Program Expenses: $2,421,218

Chief Executive
Charles P. Iacono, President and Chief Executive Officer

Compensation*
$154,199

Chair of the Board
LTG (Retired) Kenneth Tovo

Chair's Profession / Business Affiliation
US Army Retired; former Commander, US Army Special Operations Command; President and Chief Executive Officer, DOL Enterprises, Inc.

Board Size
10

Paid Staff Size
12

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

Note: Charles P. Iacono started at GBF on April 7, 2023.

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

GBF incurred joint costs of $494,665 for informational materials and activities that included fundraising materials. Of those costs, $441,815 was allocated to fundraising expenses and $52,850 was allocated to program expenses.

Fundraising costs were 10% of related contributions. (Related contributions, which totaled $2,928,082, 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 Green Beret Foundation's audited financial statements for the year ended December 31, 2023.

Source of Funds
Investment income, net $419,323
Contributions $2,184,238
Grants $403,750
Special event income, net $339,444
Product sales $100,355
In-kind contributions $650
Total Income $3,447,760

Programs: 80% Fundraising: 10% Administrative: 11%

Total Income $3,447,760
Total expenses: $3,033,336
  Program expenses $2,421,218
  Fundraising expenses $288,344
  Administrative expenses $323,774
  Other expenses $0
Income in Excess of Expenses $414,424
Beginning Net Assets $4,168,966
Other Changes In Net Assets $0
Ending Net Assets $4,583,390
Total Liabilities $257,464
Total Assets $4,840,854

Note: According to GBF's 2023 audited financial statements, the organization received in-kind contributions totaling $47,915 in the form of event auction items ($47,265) and supplies ($650).

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