The Independence Fund Inc
To serve the Warfighter community by providing programs and services that foster the physical, mental, emotional, and spiritual independence of our service members, combat Veterans, their Caregivers, families and Allies who served alongside them in combat.
The Independence Fund Inc at a glance
In short: The Independence Fund Inc gave $111K across 5 grants in 2024 (avg $22K), mostly in Florida. Source: 2024 IRS Form 990.
- Annual giving (2024)
- $111,234
- Grants made (2024)
- 5
- Average grant
- $22,247
- Median grant
- $15,000
- Total assets
- $3,870,763
- -49.1% vs 2023
- Primary geography
- Florida (55% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990, 2024 View filing
Data from IRS Form 990, 2024; updated September 2026.
Who The Independence Fund Inc funds
How this funder distributes its grants
Top Recipients
Top 5 recipients in 2024
The largest 2024 recipient was Fallen Hero Fund ($61K). Together the top 5 received $111K.
Grant Size Distribution
5 grants across all recorded years
The most common grant size was under $50K: 4 grants of 5 (80%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 5 itemized grants.
States
Cities
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2024, annual grant giving ranged from $111K (2024) to $740K (2019). In 2024 it made 5 grants totaling $111K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Fallen Hero Fund Loxahatchee, FL | Veteran Support | $61,234 |
| 82nd Airborne Division Association Fayetteville, NC | Sponsorship | $15,000 |
| American Freedom Fund Washington, DC | Sponsorship | $15,000 |
| CA Narcotic Officers' Assoc Valencia, CA | Sponsorship | $10,000 |
| Women in Military Service for America Memorial Foundation Arlington, VA | Sponsorship | $10,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2024 | $3,870,763 | $6,146,293 | $9,763,455 | $111,234 | 5 | $52,419 |
| 2023 | $7,609,215 | $12,475,650 | $13,307,657 | — | — | $819,755 |
| 2022 | $7,812,789 | $8,567,110 | $8,100,266 | — | — | $182,262 |
| 2021 | $8,188,141 | $7,884,607 | $5,632,323 | — | — | $184,737 |
| 2020 | $5,616,879 | $5,645,725 | $4,972,717 | — | — | $69,029 |
| 2019 | $4,603,509 | $6,457,795 | $9,370,611 | $740,264 | 20 | $168,367 |
About The Independence Fund Inc
Based on IRS filings
The Independence Fund Inc is a public charity focused on public and societal benefit, based in Charlotte, NC. IRS filing data is available from 2019 through 2024. As of 2024, the organization holds $3.9M in total assets. In 2024, it awarded 5 grants totaling $111K. Net investment income was $52K.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
The Independence Fund Inc is led by Sarah Verado, CEO on every filing since 2019; 5 of 9 officers listed in 2024 are compensated.
Officers on the 2024 filing
Sarah Verado
CEO
On filings since 2019
40 hrs/week
$237K (2019) → $298K (2024)
Grant Campbell
Chair
New on the 2024 filing
10 hrs/week
No compensation reported
Cheryl Mason
Director
On filings since 2023
10 hrs/week
No compensation reported
Jennifer Korn
Director
On filings since 2023
10 hrs/week
No compensation reported
Clark Pennington
COO
New on the 2024 filing
40 hrs/week
$204K (2024)
Dena Lecompt
CFO
New on the 2024 filing
40 hrs/week
$120K (2024)
John Bauer
Chief Strategist
New on the 2024 filing
40 hrs/week
$52K (2024)
Malgorzata Reazka
Chief of Engagements
New on the 2024 filing
40 hrs/week
$102K (2024)
Alea Nadeem
Secretary
Director → Secretary, 2024
On filings since 2023
10 hrs/week
No compensation reported
Former officers (14)
- Former: Arthur Pue (2019–2023) — Chairman
- Former: Bob Carey (2019–2023) — Evp-Advocacy
- Former: Mike Lenhart (2019–2023) — Director
- Former: Samuel Johnson (2020–2023) — Evp-Operations
- Former: Daniel T Elkins (2023) — Senior Advisor
- Former: Keita Franklin (2023) — Secretary
- Former: Rich Gross (2023) — Director
- Former: David Henninger (2019–2022) — Treasurer
- Former: Richard Gross (2019–2022) — Secretary
- Former: Sean Spicer (2019–2022) — Director
- Former: Jeremy Davis (2022) — Veteran Services Director
- Former: Robert Becker (2020–2021) — Caseworker Director
- Former: Mervyn Jones (2020) — Government Affairs Director
- Former: Tammy Heap (2019) — Former COO
Data from IRS Form 990 filings, 2019–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $298K, to Sarah Verado (CEO). 5 officers or directors reported compensation on that filing.
Frequently asked questions about The Independence Fund Inc
How much does The Independence Fund Inc give each year?
The Independence Fund Inc gave $111K across 5 grants in 2024, according to its 2024 IRS Form 990.
What is The Independence Fund Inc's typical grant size?
The Independence Fund Inc's median grant in 2024 was $15,000, and its average grant was $22,247, across 5 grants on its 2024 IRS Form 990.
Where does The Independence Fund Inc give grants?
The Independence Fund Inc gives mostly in Florida: 55% of the grant dollars itemized on its 2024 IRS Form 990 went to recipients there. The next largest states were North Carolina (13%) and District of Columbia (13%).
Does The Independence Fund Inc give general operating support?
Not in 2024: none of the 5 grants with a stated purpose on The Independence Fund Inc's 2024 IRS Form 990 were described as general or operating support. Recurring purposes include "Sponsorship" (4 grants).
Who are The Independence Fund Inc's largest grantees?
The Independence Fund Inc's largest 2024 grantees include Fallen Hero Fund ($61,234), 82nd Airborne Division Association ($15,000) and American Freedom Fund ($15,000), according to its 2024 IRS Form 990. Together they received 82% of its itemized 2024 grant dollars.
How large is The Independence Fund Inc?
The Independence Fund Inc reported $3.9M in total assets on its 2024 IRS Form 990. Its revenue that year was $6.1M.
What is The Independence Fund Inc?
The Independence Fund Inc is a public charity focused on public and societal benefit, based in Charlotte, NC. It holds $3.9M in total assets as of 2024.
What is The Independence Fund Inc's EIN?
The Independence Fund Inc's EIN (Employer Identification Number) is 26-0322088. IRS Form 990 filing data is available on this page for 2019–2024.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(3)
When this profile's IRS filing data changed on Grantable
- Added Form 990 for fiscal year 2019 (received by the IRS April 6, 2020)
- Updated Form 990 for fiscal year 2024 (received by the IRS October 8, 2025)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in The Independence Fund Inc's focus areas in our free grants database
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