Folds of Honor Foundation is a 501(c)(3) charitable organization based in Owasso, Oklahoma, dedicated to providing educational scholarships to military families and first responders. Founded in 2007, the organization has grown to employ 96 staff members and operates with a mission centered on supporting those who serve the nation.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$109.1M
+3.5% YoY
Annual Giving
$37.7M
+21.2% YoY
Grant Count
1,611
+80450.0% YoY
Avg Grant Size
$23K
-99.8% YoY
Mission & Focus Areas
Mission Statement: "Honor Their Sacrifice. Educate Their Legacy. Unite Americans Around All Those Who Serve."
The foundation provides life-changing educational scholarships to the spouses and dependent children of America's fallen or disabled military service members. As of 2022, the organization expanded its mission to include families of America's first responders.
Primary Focus:
- Educational scholarships for military families
- Support for first responder families
- Diversity in scholarship distribution (45% of all scholarships awarded represent minority recipients)
Grantmaking
The foundation awards scholarships through partnerships, including the Tulsa Community Foundation. In 2023, the organization distributed $30,651,656 in scholarships through the Tulsa Community Foundation.
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Geographic Focus
Where this funder awards grants
The organization funds primarily in Texas, Georgia, and Florida, though its mission extends nationally to support military families and first responders across the United States.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
2023 Financial Summary:
- Total Assets: $105,388,221
- Total Revenue: $63,841,969
- Total Expenses: $51,688,520
- Total Liabilities: $17,300,000
2024 Financial Summary:
- Total Assets: $109,069,688
Program Efficiency:
- 91% of annual expenses support scholarship programs
- 9% allocated to administrative and fundraising costs
- Cumulative average ratio of 91% of annual expenses supporting scholarship programs
Financial Management: The organization maintains a strong balance sheet with a 6-month cash reserve. The Finance Committee receives detailed monthly financial reports, and the organization plans for approximately $5 million in additional annual cash flow.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $109,069,688 | $105,388,221 | $87,120,626 |
| Revenue | $65,470,463 | $63,841,969 | $55,642,990 |
| Expenses | $62,718,422 | $51,688,520 | $46,972,258 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $2,242,317 | $1,783,665 | $574,836 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
56 grants across all recorded years
Open Grants
3 open opportunities from Folds of Honor Foundation
Children's Fund Scholarship
FOLDS OF HONOR FOUNDATION
Amount
Up to $5,000 (max $2,500 per term, min $100)
Deadline
March 31, 2027
First Responder Scholarships
FOLDS OF HONOR FOUNDATION
Amount
Up to $5,000 (max $2,500 per term, min $100)
Deadline
March 31, 2027
Military Scholarships
FOLDS OF HONOR FOUNDATION
Amount
Up to $5,000 (max $2,500 per term, min $100)
Deadline
March 31, 2027
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Founder and CEO: Lt Col Dan Rooney (Oklahoma Air National Guard F-16 fighter pilot)
The organization maintains regular Board oversight, with Board meetings held four times per year where financial reviews are presented.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| LT COLONEL DAN ROONEY | CEO & FOUNDER | 40 | $475,455 |
| DAVE NORTH | BOARD CHAIR | 3 | — |
| BRIAN WHITCOMB | SECRETARY/NOMINATING CHAIR | 3 | — |
| MIKE ARBOUR | BOARD MEMBER | 3 | — |
| JEFF BABINEAU | BOARD MEMBER | 3 | — |
| STEVEN HAWORTH | BOARD MEMBER | 3 | — |
| RYAN LEWELLYN | BOARD MEMBER | 3 | — |
| NANCY LOPEZ | BOARD MEMBER | 3 | — |
| SCOTT MUELLER | BOARD MEMBER | 3 | — |
| LARRY PFEIFFER | BOARD MEMBER | 3 | — |
| JOHNNY POWERS | BOARD MEMBER | 3 | — |
| JACQUELINE ROONEY | BOARD MEMBER | 3 | — |
| DR JOHN ROONEY | BOARD MEMBER | 3 | — |
| CHRIS WILLIAMS | BOARD MEMBER | 3 | — |
| TERRY WILLIAMS | BOARD MEMBER | 3 | — |
| NICK NICHOLS | PRESIDENT | 40 | $274,949 |
| RAY POUDRIER | CFO | 40 | $159,119 |
| BEN LESLIE | CHIEF DEVELOPMENT OFFICER | 40 | $286,216 |
| LARRY ROBINSON | CHIEF IMPACT OFFICER | 40 | $244,336 |
| GLENN GREENSPAN | DIRECTOR OF PUBLIC RELATIONS | 40 | $135,666 |
| MELANIE K BARDIN-MORROW | VP OF OPERATIONS | 40 | $138,876 |
| RODNEY SICKMANN | SR VP OF CORP ACCT | 40 | $187,805 |
| SARA BUSH | SENIOR DIRECTOR OF GOLF | 40 | $138,953 |
| REBECCA COTTRELL | VP OF MARKETING | 40 | $120,932 |
Recent News & Activity
Recent developments and announcements
Announced a $1 million scholarship commitment with the New York City Police Department
Folds of Honor: Announces $1 million scholarship commitment | The FirstSet single-year academic scholarship distribution records in recent years
FOLDS OF HONOR SETS ANOTHER SINGLE-YEAR ACADEMIC SCHOLARSHIP DISTRIBUTIONContinues to expand scholarship awards annually, with 2024 financial statements showing sustained growth in assets and giving capacity
Subject Areas
Focus areas based on grantmaking activity
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Similar funders by location and focus area
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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