2011-05-09T14:42:54-05:00 2010-12-31 RENNER AND COMPANY CPA PC 700 NORTH FAIRFAX ST SUITE 400 ALEXANDRIA VA 22314 990 2010-01-01 521149668 VIETNAM VETERANS MEMORIAL FUND INC VIET 2023930090 2600 VIRGINIA AVENUE NW NO 104 WASHINGTON DC 20037 DANIEL REESE 2023930090 2011-05-09 1 JOAN MRENNER 7035351200 2010 2016-02-24 21:20:13Z DANIEL REESE 2600 VIRGINIA AVENUE NW SUITE 104 WASHINGTON DC 20037 12592168 0 X WWW.VVMF.ORG X 1979 DC TO PRESERVE THE LEGACY OF THE VIETNAM VETERANS MEMORIAL, TO PROMOTE NATIONAL HEALING, AND TO EDUCATE ON THE IMPACTS OF THE VIETNAM WAR ERA. 7 6 31 500 0 0 8156094 10037188 181160 108500 -616993 529513 61101 106047 7781362 10781248 0 0 0 0 1070425 1374684 675050 273396 1605548 5756003 5067950 7501478 6716030 279884 4065218 26139112 30721100 1461386 1942948 24677726 28778152 X TO PRESERVE THE LEGACY OF THE VIETNAM VETERANS MEMORIAL, TO PROMOTE NATIONAL HEALING, AND TO EDUCATE ON THE IMPACTS OF THE VIETNAM WAR ERA. 0 0 2138620 THE ORGANIZATION PRESERVES THE LEGACY OF THE MEMORIAL AND PROMOTES HEALING THROUGH PUBLIC OUTREACH, PROMOTING VISITATION OF THE MEMORIAL BY THE GENERAL PUBLIC. THE ORGANIZATION PROVIDES INFORMATION ABOUT THE HISTORY OF THE MEMORIAL AND RESPONDS TO QUESTIONS FROM POTENTIAL VISITORS. THE ORGANIZATION MAINTAINS A COMMEMORATIVE WEB SITE CALLED THE VIRTUAL WALL, THAT ALLOWS FAMILIES, FRIENDS AND VETERANS TO POST REMEMBRANCES TO THOSE WHOSE NAMES ARE INSCRIBED ON THE MEMORIAL, EXTENDING THE HEALING POWER AND EMOTIONAL IMPACT OF THE WALL TO MILLIONS OF PEOPLE THROUGH THE INTERNET. MORE THAN 100,000 MESSAGES HAVE BEEN POSTED ON THE VIRTUAL WALL. THE ORGANIZATION IS ALSO CONDUCTING A NATIONAL CALL FOR PHOTOS TO PRESERVE THE MEMORY OF THOSE WHOSE NAMES ARE INSCRIBED ON THE MEMORIAL. THE PHOTOS WILL BE DISPLAYED IN THE EDUCATION CENTER. 730877 THE ORGANIZATION PROMOTES HEALING FROM THE EFFECTS OF THE VIETNAM WAR THROUGH PROJECT RENEW, A HUMANITARIAN PROGRAM DESIGNED TO REDUCE THE THREAT OF LANDMINES AND UNEXPLODED ORDNANCE IN VIETNAM. THE PROJECT FOCUSES ON MINE AWARENESS EDUCATION INCLUDING PUBLIC SERVICE ANNOUNCEMENTS, AND VICTIMS' ASSISTANCE PROGRAMS INCLUDING HEALTH CARE AND THE DEVELOPMENT OF SUSTAINABLE EMPLOYMENT IN QUANG TRI AND QUANG BINH PROVINCES, THE MOST HEAVILY BOMBED AND SHELLED AREAS OF VIETNAM. 630273 THE ORGANIZATION IS CONDUCTING A NATIONAL EDUCATIONAL CAMPAIGN CALLED HOMETOWN HEROES, TO PROMOTE A GREATER UNDERSTANDING OF THE VIETNAM WAR, THE VIETNAM ERA AND THE PERSONAL SACRIFICE OF THE INDIVIDUALS WHOSE NAMES ARE INSCRIBED ON THE MEMORIAL. PROGRAM INFORMATION IS SENT TO SCHOOLS AND COMMUNITY ORGANIZATIONS ENCOURAGING STUDENTS TO WRITE BIOGRAPHIES OF MEN AND WOMEN FROM THEIR COMMUNITY WHOSE NAMES ARE INSCRIBED ON THE MEMORIAL. THE INFORMATION GATHERED BY THE STUDENTS WILL BE INCLUDED IN THE EDUCATION CENTER BEING BUILT ON THE MALL IN WASHINGTON, D.C. THE EDUCATION CENTER WILL PROMOTE A GREATER UNDERSTANDING OF THE VIETNAM WAR, THE VIETNAM WAR ERA AND THOSE WHO SERVED. DURING 2010 THE ORGANIZATION'S CAPITAL EXPENDITURES TO DEVELOP THE EDUCATION CENTER TOTALED $1,312,192. 370314 THE ORGANIZATION PLANS, ORGANIZES AND CONDUCTS A NUMBER OF CEREMONIES AT THE MEMORIAL AND ELSEWHERE TO BRING PEOPLE TOGETHER TO REMEMBER AND HONOR THE MEN AND WOMEN WHO SERVED IN THE VIETNAM WAR AND THOSE WHO DIED. CEREMONIES ARE CONDUCTED EACH YEAR ON MEMORIAL DAY, VETERANS DAY, FATHERS DAY, MOTHERS DAY, IN MEMORY DAY AND CHRISTMAS TO RECOGNIZE, REMEMBER AND HONOR THOSE WHO SERVED AND DIED AS WELL AS TO BRING HEALING TO THEIR FAMILIES, THEIR FRIENDS AND OUR NATION. 385349 108500 THE ORGANIZATION PROMOTES HEALING AND PROVIDES EDUCATION ABOUT THE IMPACT OF THE VIETNAM WAR THROUGH ITS TRAVELING MEMORIAL CALLED "THE WALL THAT HEALS". THE ORGANIZATION EXHIBITS A HALF-SCALE REPLICA OF THE VIETNAM VETERANS MEMORIAL IN CITIES AND LOCATIONS THROUGHOUT THE UNITED STATES, MAKING IT POSSIBLE FOR MILLIONS OF INDIVIDUALS WHO ARE UNABLE TO TRAVEL TO WASHINGTON, D.C. TO RECOGNIZE, REMEMBER AND HONOR THOSE WHO SERVED AND DIED, AND TO EXPERIENCE A CONNECTION WITH LOST COMRADES AND LOVED ONES. THE TRAVELING MEMORIAL ALSO INCLUDES AN EDUCATIONAL MUSEUM AND AN INFORMATION CENTER TO ASSIST VISITORS IN FINDING NAMES ON THE MEMORIAL. THIS YEAR, THE ORGANIZATION BROUGHT THE WALL THAT HEALS AND THE TRAVELING MUSEUM AND INFORMATION CENTER TO 23 LOCATIONS IN THE UNITED STATES AND BROUGHT THE MUSEUM COMPONENT TO TWO ADDITIONAL LOCATIONS REACHING THOUSANDS OF VISITORS. 322269 THE ORGANIZATION WORKS IN COOPERATION WITH THE NATIONAL PARK SERVICE TO PROVIDE FOR SPECIAL MAINTENANCE NEEDS OF THE VIETNAM VETERANS MEMORIAL IN WASHINGTON, D.C., INCLUDING THE ADJACENT THREE SERVICEMAN STATUE, FLAGPOLE AND THE THREE-ACRE SITE WHERE THE VIETNAM VETERANS MEMORIAL IS LOCATED, TO MAINTAIN THE SITE'S FUNCTION AS A PLACE OF REFLECTION ON THE VIETNAM WAR, A PLACE OF HONOR, RECOGNITION AND REMEMBRANCE OF THOSE WHO SERVED AND THOSE WHO DIED, A PLACE OF SPIRITUAL CONNECTION WITH LOST COMRADES AND LOVED ONES, AND A SYMBOL OF HEALING FOR OUR NATION. THE MEMORIAL HAS BEEN VISITED BY MORE THAN 80 MILLION PEOPLE, MAKING IT ONE OF THE MOST VISITED MEMORIALS ON THE NATIONAL MALL. THIS YEAR 4.6 MILLION PEOPLE VISITED THE VIETNAM VETERANS MEMORIAL IN WASHINGTON D.C. 302611 THE ORGANIZATION EDUCATES STUDENTS ABOUT THE IMPACT OF THE VIETNAM WAR AND PRESERVES THE LEGACY OF THE VIETNAM VETERANS MEMORIAL THROUGH ITS PROGRAMS RELATED TO THE EDUCATION OF STUDENTS AND TEACHERS REGARDING THE VIETNAM WAR, THE VIETNAM VETERANS MEMORIAL AND THE MEMORIAL'S LEGACY IN CULTURE AND SOCIETY. THE ORGANIZATION'S EDUCATION PROGRAMS REACH TEACHERS AND STUDENTS FROM GRADES 7 TO 12 AS WELL AS HIGHER EDUCATION. THE ORGANIZATION IS DEVELOPING AN EDUCATION CENTER THAT WILL BE LOCATED ADJACENT TO THE VIETNAM VETERANS MEMORIAL ON THE NATIONAL MALL IN WASHINGTON D.C. THE EDUCATION CENTER WILL INCLUDE INTERACTIVE EXHIBITS AND PRIMARY SOURCE MATERIALS TO PERSONALIZE THE NAMES ON THE WALL TO HELP VISITORS GAIN A GREATER UNDERSTANDING OF THE COURAGE AND PERSONAL SACRIFICE OF THE INDIVIDUALS WHOSE NAMES ARE INSCRIBED ON THE MEMORIAL. THE EDUCATION CENTER WILL ALSO PROMOTE A GREATER UNDERSTANDING OF THE VIETNAM WAR AND THE VIETNAM WAR ERA. AS DISCLOSED IN ITEM 4C, DURING 2010, THE ORGANIZATION'S CAPITAL EXPENDITURES RELATED TO THE DEVELOPMENT OF THE EDUCATION CENTER TOTALED $1,312,192. 1380543 108500 4880313 1 1 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 1 1 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 1 29 0 1 31 1 0 1 VM EI 0 0 0 0 0 0 0 0 X 7 6 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AK AZ AR CA CT DC FL GA HI IL IA KS KY LA ME MD MA MI MN MS MO MT NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN UT VA WA WV WI WY X X THE ORGANIZATION 2023930090 2600 VIRGINIA AVE NW SUITE 104 WASHINGTON DC 20037 X JAN C SCRUGGS 40.00 X X 228131 0 36547 JOHN DIBBLE 1.00 X X 0 0 0 GEORGE W MAYO 1.00 X 0 0 0 HARRY G ROBINSON III 1.00 X 0 0 0 JOHN O WOODS 1.00 X X 0 0 0 JAMES V KIMSEY 1.00 X 0 0 0 LT COL JANIS NARK 1.00 X 0 0 0 ROBERT H FRANK 10.00 X 0 0 0 DANIEL W REESE 40.00 X 179151 0 31538 407282 0 68085 2 0 1 0 ENNEAD ARCHITECTS 320 WEST 13TH STREET NEW YORK NY 10014 ARCHITECTURE FIRM 696748 RALPH APPLEBAUM ASSOCIATES 88 PINE STREET NEW YORK NY 10005 ARCHITECTURE AND DESIGN FIRM 431819 CREATIVE DIRECT RESPONSE 1682 VILLAGE GREEN CROFTON MD 21114 PROFESSIONAL FUNDRAISING 273396 NATIONAL FUNDRAISING LISTS 16900 SCIENCE DRIVE SUITE 210 BOWIE MD 20715 FUNDRAISING LIST RENTAL 171929 FRANK AND COMPANY 1360 BEVERLY ROAD SUITE 300 MCLEAN VA 22101 CERTIFIED PUBLIC ACCOUNTANTS 117748 12 55523 168937 287241 9525487 29919 10037188 SITE FEES-TRAVELING WA 900099 108500 108500 108500 317259 317259 20289 20289 1989236 1776982 212254 212254 212254 33938 168937 33938 0 LIST RENTAL 900099 85758 85758 85758 10781248 108500 0 635560 475367 424812 14386 36169 685556 611965 21153 52438 34340 30460 1199 2681 101996 90709 3489 7798 77425 69003 2646 5776 16146 9541 6068 537 275655 216036 39307 20312 273396 273396 80719 80719 4640 3686 485 469 86020 83924 260 1836 200262 177847 5417 16998 96650 83396 4988 8266 224033 199452 7599 16982 129913 126245 693 2975 45819 45819 144632 135318 2893 6421 32009 28787 997 2225 DIRECT MAIL EXPENSES 2702846 1770966 931880 CONSULTING 380097 338503 4642 36952 MEMORIAL MAINTENANCE 221966 221966 CAGING 159721 159721 VIETNAM PROGRAM 109410 109410 157412 102468 33228 21716 6716030 4880313 230169 1605548 X 2598596 1743904 0 854490 1105214 533393 1590637 2826235 10012586 12074448 17162 88826 116121 104678 1188394 646702 665055 541692 9361735 9969032 3270602 4582796 26139112 30721100 994677 1012727 54500 10500 412209 919721 1461386 1942948 X 4819290 7706830 17958436 19171322 1900000 1900000 24677726 28778152 26139112 30721100 X 4065218 35208 X 0 1 1 X 0 X 9378261 8635870 8688291 8156094 10037188 44895704 9378261 8635870 8688291 8156094 10037188 44895704 9087960 35807744 257630 336405 314859 280043 469083 1658020 98624 115131 10973 43326 85758 353812 46907536 627510 0.76340 0.77830 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1900000 1900000 1900000 1900000 1900000 1900000 1.00000 0 0 1188394 646702 541692 541692 PUBLICLY TRADED SECURITIES 9951290 F PRIVATE EQUITY COMMODITIES 17742 F 9969032 EDUCATION CENTER, CONSTRUCTION IN PROGRESS 4557711 DEPOSITS 25085 4582796 DEFERRED RENT 397644 DEFERRED COMPENSATION 188168 REFUNDABLE ADVANCES 333909 919721 10781248 6716030 4065218 296813 -304439 42834 35208 4100426 11179216 296813 66076 60049 422938 10756278 80719 -55749 24970 10781248 7056979 370515 51153 421668 6635311 80719 80719 6716030 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE PURPOSE OF THE ENDOWMENT FUNDS IS TO PROVIDE A PERMANENT SOURCE OF INCOME TO FURTHER THE MISSION OF THE ORGANIZATION. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED GAIN ON FOREIGN CURRENCY TRANSACTION 42,834. PART XII, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED GAIN ON FOREIGN CURRENCY TRANSACTION 42,834. ADJUSTMENT TO PAYABLES SHOWN AS OTHER INCOME ON FINANCIAL STATEMENTS 17,215. PART XII, LINE 4B - OTHER ADJUSTMENTS: WRITE-OFFS TO PLEDGE RECEIVABLES -21,811. FUNDRAISING EVENT EXPENSE -33,938. PART XIII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES 33,938. ADJUSTMENT TO PAYABLES 17,215. EAST ASIA & THE PACIFIC - VIETNAM 1 1 PROGRAM SERVICES REMOVAL OF UNEXPLODED ORDNANCE - SEE SCHEDULE F, PART IV 415078 1 0 1 415078 0 415078 0 0 0 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: THE ORGANIZATION DOES NOT MAKE GRANTS IN CONNECTION WITH ITS PROGRAM SERVICE ACTIVITIES OUTSIDE THE U.S. THE PROGRAM SERVICE ACTIVITIES DESCRIBED ON SCHEDULE F, PART I, LINE 3 REPRESENT A PROGRAM FOR THE REMOVAL OF UNEXPLODED ORDNANCE IN VIETNAM. OTHER INFORMATION SCHEDULE F, PART V SCHEDULE F, PART I, LINE 3: PROJECT RENEW IS THE FIRST COMPREHENSIVE MANAGEMENT APPROACH UNDERTAKEN IN VIETNAM TO RESTORE THE ENVIRONMENT AND NEUTRALIZE THE EFFECTS OF WAR. ITS WORK IS TO HELP REDUCE THE RISK OF THE MORE THAN 350,000 TONS OF UNEXPLODED ORDNANCE (UXO) LEFT FROM THE WAR, MUCH OF IT IN CENTRAL VIETNAM IN AREAS WHERE FARMERS WORK AND CHILDREN PLAY. PROJECT RENEW WAS LAUNCHED IN DECEMBER 2000 BY THE VIETNAM VETERANS MEMORIAL FUND IN PARTNERSHIP WITH THE QUANG TRI PROVINCE PEOPLE'S COMMITTEE. IN ADDITION TO CLEARING LANDMINES AND UXO FROM CONTAMINATED AREAS, PROJECT RENEW PERFORMS MANY OTHER VALUABLE SERVICES: IT PURSUES MINE-RISK EDUCATION THROUGH TELEVISION AND RADIO SPOTS AND A VARIETY OF IN-PERSON PROGRAMS. IT PROVIDES EMERGENCY MEDICAL SERVICES AND PROSTHETIC LIMBS FOR AMPUTEES. IT GIVES JOB TRAINING AND ASSISTANCE TO LANDMINE VICTIMS TO HELP THEM ATTAIN SUSTAINABLE INCOME. X X X X X X 1 CREATIVE DIRECT RESPONSE 1682 VILLAGE GREEN CROFTON MD 21114 DIRECT MAIL FUNDRAISING 0 4060440 273396 3787044 4060440 273396 3787044 AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY FUNDRAISING GALA 202875 168937 33938 9114 7937 7830 9057 202875 168937 33938 9114 7937 7830 9057 33938 0 X 1 1 X X 0 1 0 0 0 0 0 0 0 JAN C SCRUGGS 155631 0 0 0 72500 0 23063 0 13484 0 264678 0 0 0 DANIEL W REESE 179151 0 0 0 0 0 17532 0 14006 0 210689 0 0 0 PART I, LINE 1A JAN SCRUGGS, PRESIDENT, RECEIVED TWO TAX GROSS-UP PAYMENTS IN 2010. ONE WAS TO COVER THE INCOME TAXES ON A LIFE INSURANCE PREMIUM PAID BY VVMF. THE GROSS-UP PAYMENT OF $9,732 WAS REPORTED AS TAXABLE INCOME TO JAN SCRUGGS. THE SECOND GROSS-UP PAYMENT WAS FOR $911 TO COVER FICA TAXES ON THE EMPLOYER CONTRIBUTIONS TO MR. SCRUGGS' 457 DEFERRED COMPENSATION PLAN. THIS PAYMENT WAS REPORTED AS TAXABLE INCOME TO JAN SCRUGGS. PART I, LINE 4A IN RECOGNITION OF HIS SERVICES TO VVMF, THE ORGANIZATION MAKES CONTRIBUTIONS TO A DEFERRED COMPENSATION PLAN ON BEHALF OF VVMF'S FOUNDER AND PRESIDENT, JAN SCRUGGS. MR. SCRUGGS' REPORTED SALARY FOR 2010 INCLUDES DEFERRED COMPENSATION UNDER SECTION 457(B), IN THE AMOUNT OF $16,500, AND SECTION 457(F), IN THE AMOUNT OF $45,537, FOR A TOTAL OF $61,857 IN DEFERRED COMPENSATION. ROBERT FRANK PARTNER OF FRANK & COMPANY PC NONVOTING MEMBER OF THE BOARD OF DIRECTORS; NO LONGER ASSOCIATED WITH VVMF 117748 INDEPENDENT CONTRACTOR ARRANGEMENT 0 X 1 29919 COST 0 0 0 FORM 990, PART VI, SECTION A, LINE 3 IN EARLY 2010, THE ORGANIZATION OUTSOURCED THE FINANCIAL ACCOUNTING OPERATIONS AND PROGRAM OVERSIGHT OF PROJECT RENEW RESPONSIBILITIES TO AN INDEPENDENT CONTRACTOR. AS OF MAY 2010, THE FINANCIAL ACCOUNTING OPERATIONS AND PROGRAM OVERSIGHT OF PROJECT RENEW ARE THE RESPONSIBILTY OF VVMF MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 11 A CPA FIRM PREPARES THE FORM 990 AND PROVIDES A DRAFT COPY TO THE CFO AND THE BOARD FOR THEIR REVIEW AND APPROVAL. THE FINANCE AND AUDIT COMMITTEE REVIEWS THE RETURN IN DETAIL. A CONFERENCE CALL TAKES PLACE TO DISCUSS THE RETURN AND RESPOND TO QUESTIONS. ANY NECESSARY REVISIONS ARE MADE AND THE REVISED DRAFT IS THEN SENT TO THE BOARD FOR REVIEW PRIOR TO THE 990 BEING ISSUED FINAL. THE CFO THEN APPROVES THE 990 FOR ASSEMBLY AND SIGNS THE FINAL FORM. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED AND ACKNOWLEDGED ANNUALLY BY OFFICERS AND DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 EXECUTIVE COMMITTEE REVIEW OF CONTRACT AND SALARY REQUIREMENTS BASED ON SALARY COMPARISON DATA PROVIDED BY INDEPENDENT SURVEY AND CONTEMPORANEOUS DOCUMENTATION OF THE DECISION WAS MADE BY THE COMMITTEE FOR THE PRESIDENT/CEO EMPLOYMENT CONTRACT AND THE CONTRACTS OF OTHER OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 18 VVMF COMPLIES WITH SECTION 6104 AND MAKES ITS FORM 1023, 990 AND 990-T (IF APPLICABLE) AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST FROM THE VVMF OFFICE, ON GUIDESTAR.COM, ON THE WEBSITE OF THE BETTER BUSINESS BUREAU WWW.BBB.ORG, AND ON ITS OWN WEBSITE, WWW.VVMF.ORG. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS SUCH AS GOVERNING DOCUMENTS, CONFLICT OF INTEREST AND A COPY OF VVMF'S FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FROM THE VVMF OFFICE. FORM 990, PART VII, SECTION A, LINE 1A; LISTING OF OFFICERS AND DIRECTORS: AS OF MAY 2010, ROBERT H. FRANK IS NO LONGER AN OFFICER OR DIRECTOR OF VVMF. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 296,813. DONATED SERVICES AND USE OF FACILITIES: -304,439. UNREALIZED GAIN ON FOREIGN CURRENCY TRANSACTION 42,834. TOTAL TO FORM 990, PART XI, LINE 5: 35,208. EXPLANATION FOR EDUCATION CENTER ASSET SCHEDULE D, PART IX, OTHER ASSETS: VVMF IS CONDUCTING A CAPITAL CAMPAIGN TO RAISE FUNDS TO BUILD AN EDUCATION CENTER ON THE MALL NEAR THE VIETNAM VETERANS MEMORIAL IN WASHINGTON, DC. THE EDUCATION CENTER WILL HELP VISITORS UNDERSTAND THE COURAGE, SACRIFICE AND DEVOTION OF THOSE WHO SERVED OUR COUNTRY. THROUGH INTERACTIVE EXHIBITS AND PRIMARY SOURCE MATERIALS, VISITORS WILL BE ABLE TO BETTER UNDERSTAND THE PROFOUND IMPACT THE VIETNAM WAR HAD ON THEIR FAMILY MEMBERS, THEIR HOME TOWNS, THEIR COMMUNITIES, AND THE NATION. ALL COSTS RELATED TO THE DESIGN, PLANNING AND CONSTRUCTION OF THE CENTER ARE CAPITALIZED AS WORK IN PROGRESS. UPON COMPLETION OF CONSTRUCTION, THE EDUCATION CENTER WILL BE DONATED TO THE NATIONAL PARK SERVICE, AT WHICH TIME ALL CAPITALIZED COSTS WILL BE EXPENSED. VVMF'S TOTAL NET ASSETS AS OF DECEMBER 31, 2010 INCLUDES $16,580,374 RESTRICTED FOR THE DEVELOPMENT AND BUILDING OF THE EDUCATION CENTER.