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Massachusetts · Nonprofit

VETERANS INC

VETERANS INC (Massachusetts) receives grants from 94 organizations whose IRS filings report $6,348,191 to it, the largest being THE CALL OF DUTY ENDOWMENT ($2,691,500). 47 of them have funded it in more than one year.

Revenue FY2025
$30M
Funders on record
94
Grants received
$6.3M
Net assets
$27M
47/94 repeat funderspeak grant-dependency 6%
01What it does

What Veterans Inc does

Mission

Veterans Inc.'s mission is to end homelessness among veterans by helping veterans regain control of their lives. We believe that all veterans have earned respect and gratitude from our nation. This belief is translated into the philosophy that underlies all of our work. "they were there when we needed them. We must be there now that they need us." at Veterans Inc. We aim to remain a leading provider of services for veterans and their families by providing the highest quality services.

As stated on its FY2025 Form 990.

Programs

  1. Health and wellness and behavioral health care - the organization provides physical, mental, and emotional care that helps individuals develop coping mechanisms and supports reintegration into families and communities. This care contributes to the success of the organization in reducing homelessness. The organization has been on the vanguard of treatment delivery for substance addiction by becoming the first veteran-focused organization to create a full array of licensed direct care services. Inpatient and outpatient substance abuse treatment licensed by the massachusetts department of public health and accredited by the commission of accreditation of rehabilitation facilities are available at independence hall in shrewsbury, massachusetts and in worcester, massachusetts locations. Levels of care provided include inpatient clinical stabilization services, inpatient residential recovery support for those with co-occurring substance use disorder and mental health issues, intensive outpatient day treatment, outpatient counseling, and medication assisted treatment. Research has demonstrated that separation from the military increases the risk of developing or worsening substance abuse…

    $8,734,946 spentof which $283,173 as grants$12,294,685 earned by the program
    38% of program spending
  2. Outreach and supportive services program - the outreach program offers training, therapeutic group sessions, individual counseling, benefits counseling and advocacy, healthcare and benefit enrollment, employment support, transportation, and other support services such as food and clothing. The program focuses on the removal of barriers that prevent people from receiving critical services. Supportive services to veteran families focus on housing stabilization which offers case management, legal services, healthcare navigation, and temporary financial assistance to help low-income families obtain or remain in housing. Also offered is suicide prevention support that employs a public health approach that blends community-based prevention with evidence-based clinical strategies with a goal to reduce veteran suicide risk, improve baseline mental health status, well-being, and social support, and improve financial stability for individuals and their families. The organization also provides housing retention assistance for veterans who have transitioned into their own permanent living situation and maintains a nation toll-free call center to provide veterans and their family members with…

    $8,918,965 spentof which $2,590,057 as grants
    38% of program spending
  3. Supportive housing for veterans - the program provides the basic human needs of food, clothing, and residential services to homeless veterans. The organization operates multiple facilities for veterans across new england. Programs vary by site from emergency shelter and barrack style living to single room occupancy units with shared common spaces, to independent apartment style living. All sites provide supportive services onsite through case managers and site coordinators. The organization works with each veteran to develop an individual service plan to meet their needs. The goals of the program are for clients to improve their mental health status and residential stability, increase their skill level or income, and achieve greater self-determination.

    $2,954,036 spentof which $89,344 as grants$164,928 earned by the program
    13% of program spending
  4. Training and employment program - the organization supports veterans in today's difficult job market by proving training and job placement services. This nationally recognized training and employment program helps veterans obtain and retain jobs so they can stabilize their lives. Veterans receive job counseling, support services, training, resume writing assistance, mock interviews, and job placement and retention services. Employment specialists conduct assessments of veterans' career interests, employment history, needs, abilities, and aspirations to determine a course of action for success and connect veterans to meaningful employment opportunities. Veterans in need of training or further certifications are provided with job training either internally or through a training partner. Success in the workplace often hinges on employees' ability to successfully manage other areas of their lives; the organization offers life skills, money management, transportation, childcare, and other supports to further eliminate potential obstacles to job success. After employment, staff follow-up to identify any potential issues before they become a barrier to sustained employment. A special…

    $2,605,340 spentof which $6,327 as grants
    11% of program spending

The 4 programs described on its FY2024 Form 990, listed largest first by expense. Program spending in total: $23,213,287.

02The organization over time

The organization over time

Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.

100 = 20172017 Revenue 100 ($13M) Expenses 100 ($13M) Net assets 100 ($9.1M)2018 Revenue 95 ($12M) Expenses 94 ($12M) Net assets 101 ($9.2M)2019 Revenue 92 ($12M) Expenses 88 ($11M) Net assets 106 ($9.7M)2020 Revenue 101 ($13M) Expenses 93 ($12M) Net assets 114 ($10M)2021 Revenue 147 ($18M) Expenses 128 ($16M) Net assets 141 ($13M)2022 Revenue 174 ($22M) Expenses 139 ($17M) Net assets 190 ($17M)2023 Revenue 187 ($23M) Expenses 168 ($21M) Net assets 219 ($20M)2024 Revenue 208 ($26M) Expenses 187 ($24M) Net assets 249 ($23M)2025 Revenue 237 ($30M) Expenses 203 ($25M) Net assets 298 ($27M)
'17'18'19'20'21'22'23'24'25
Revenue (237)Expenses (203)Net assets (298)Peer revenue range

Balance sheet

Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2021 to 2022, from $18M to $23M (+29%).

$15M
$15M
$15M
$17M
$18M
$23M
$27M
$29M
$34M
'17'18'19'20'21'22'23'24'25
Total assetsTotal liabilities

How it's funded, over time

Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.

2017
2018
2019
2020
2021
2022
2023
2024
2025
ContributionsProgram revenueInvestmentOther

Government-grant reliance: 2017 79% · 2018 66% · 2019 59% · 2020 60% · 2021 66% · 2022 62% · 2023 61% · 2024 54% · 2025 52%. Grants only. Government contracts and fees sit inside program revenue.

56% of VETERANS INC’s revenue is contributions — about as donation-reliant as the typical peer (60% for the typical peer).

This organization
Typical peer · 698 orgs

Surplus & reserves

Operating surplus or deficit each year, and months of liquidity in hand. 0 of the last 9 reported years ran a deficit.

$32k
’17
$87k
’18
$473k
’19
$944k
’20
$2.4M
’21
$4.5M
’22
$2.4M
’23
$2.7M
’24
$4.5M
’25
9.2
months of
reserve

Leadership and staff

The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.

Chief executive

Vincent Perrone Jr

President & CEO

As listed on its FY2025 Form 990.

'17'18'19'20'21'22'23'24'25
Listed101010101011111214
Joined·+1+0+1+0+1+0+2+2
No longer listed·10100010
03Who funds it

Who funds it, year by year

2017 → 2023: the base broadened from 16 funders to 33 funders, grant income rose $530k → $871k.

15 of 94 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 10% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.

From the IRS filings of VETERANS INC’s funders (the co-funder graph). Top 30 of 94 funders by total. Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.

How concentrated its funding is

VETERANS INC leans on a few funders — its largest provides 42% of grant income and the top three 53%; half comes from just 3 funders.

the vertical line marks half of all grant income — 3 funders to its left

31% of the income these shares are computed over arrives through pass-through sponsors or from payers whose filings do not say what kind of payment it is. Concentration is still measured over all of it, because the money is real; what it does not support is a claim about how many institutions have chosen to fund VETERANS INC.

42%
largest funder
53%
top three
~5
effective funders

Largest funder’s share by year: 2017 49% · 2018 40% · 2019 79% · 2020 34% · 2021 38% · 2022 38% · 2023 41% — diversifying over time.

“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.

How long its funders stay

25% of VETERANS INC's funders are still giving 3 years after their first grant; 50% give in more than one year at all.

first grant+1y+2y+3y+4y+5y+6y

Share of funders still giving k years after their first recorded grant, pooled across every acquisition cohort. A funder counts as retained in a year only if it made a grant that year. Measured to FY2023, the last fiscal year that has finished arriving — a funder cannot be counted as lapsed in a year most filers have not reached.

Where its funders are

VETERANS INC draws 62% of its grant income from funders outside Massachusetts, across 15 states in all.

ME
VT
NH
MN
IL
NY
MA
NJ
CT
CA
VA
DE
NC
GA
TX

In-state vs out-of-state, by year

’17
’18
’19
’20
’21
’22
’23
Massachusetts out of state home

Funder states come from each funder’s own filing. $666k arriving through sponsors registered in 11 states is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.

04Its place in the field

Against its field

VETERANS INC holds deeper cash reserves than three-quarters of the 366 community improvement nonprofits its size.

Operating margin15% · above the median
Months of reserve9.2mo · top quartile
Revenue growth (annualized)11% · above the median

this organization peer median middle 50% of peers· 366 community improvement nonprofits $10M–$100M, FY2025

Government funding VETERANS INC receives

Grants and contracts to this organization from federal (USASpending) and state checkbooks, reconciled to its EIN. $114.3M on record — $90.9M federal, $23.5M state.

Federal$90.9M
grants $90.5Mcontracts $329k
17
19
20
21
22
23
24
25
26
Top agencies
  • Department of Veterans Affairs$71.5M
  • Department of Labor$12.2M
  • Department of Housing and Urban Development$6.5M
  • Department of Health and Human Services$735k
State$23.5M
17
18
19
20
21
22
23
24
25
By state
  • MA$23.4M
  • VT$104k

Federal grants vs contracts are distinguished; state line items keep their reported category. Matched by name + geography (the BMF), so coverage is partial and precision-first.

Organizations like VETERANS INC

Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.

In Massachusetts

Nationally

05Profile & governance

Read directly from this organization’s own Form 990, as neutral context.

Where the money goes

91% of spending goes to programs.

Program 91%Management 8%Fundraising 1%

Governance

9
board members
78%
independent
✓Conflict-of-interest policy✓Whistleblower policy–Document retention✓Board reviewed the 990✓Audited financials

Public support

98%

Share of support from the public (Schedule A) — the basis for its public-charity status.

Footprint & structure

Files a return copy in 2 states

NH
MA

Part of a family of 2 related entities

  • Recover Independence Inc · exempt
  • US Veterans Inc · corp_trust

Screen this organization

A dated, signed PDF of the compliance screen for VETERANS INC: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.

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Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf

Questions and answers

Who funds VETERANS INC?
VETERANS INC (Massachusetts) receives grants from 94 organizations whose IRS filings report $6,348,191 to it, the largest being THE CALL OF DUTY ENDOWMENT ($2,691,500). 47 of them have funded it in more than one year.
How many funders does VETERANS INC have?
IRS filings report 94 organizations giving $6,348,191 in grants to VETERANS INC, 47 of which have funded it in more than one year.
Who is the largest funder of VETERANS INC?
THE CALL OF DUTY ENDOWMENT is the largest funder on record, with $2,691,500 in grants. The full list of funders is on this page.
How can an organization like VETERANS INC find more funders?
Start with the funders already giving here, then look at the foundations that back similar organizations in Massachusetts. The funding by cause and by state pages list the largest funders for a given area and how to approach them.

These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2025 (financials across 2017–2025), and the filings of 94 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 22, 2026. What this page cannot tell you · view filing