FAQs

General Questions

Yes, In 2002 we received a 501(c)3 designation from the Internal Revenue Service.

Our tax ID number is # 54-2062271. CFC# 77273.

Please see our news and events page for updates.

We are also on social media, follow us!

Facebook: PenFed Foundation
Instagram: PenFed_Foundation
YouTube: The PenFed Foundation

LinkedIn: The PenFed Foundation

You can make a gift to us online with your credit card or PayPal account. Click on the Donate Button at the top right of our home page to go to the online donation page. Fill out your name, email, and billing address, and then select whether you want to pay through credit card or PayPal.

To pay by credit card, enter your card number, expiration date, and security code.

To pay by PayPal, click on the PayPal button and log into your PayPal account to withdraw the amount you want to donate.

Lastly, choose if you would like to cover the transaction fee. You will receive a tax receipt sent to the email you provided immediately after you complete the donation.

When you click on the Donate Button, you will have the option to make a one-time or monthly donation.

You can make a gift to us by mailing a check payable to the PenFed Foundation to 7940 Jones Branch Dr, Tysons, VA 22102. Once we receive your check, we will mail you a tax receipt to the address on your envelope.

You can make a gift to us by donating shares of stocks. Email us at mission@penfed.org to provide the details of your stock gift. We will send you our brokerage information and next steps for completing your gift.

Donors may contribute in-kind gifts with approval from the PenFed Foundation. IRS requirements for gift valuation note that the donor has the responsibility for valuing in-kind gifts for tax-deduction purposes. Even in cases in which the donor does not intend to claim the in-kind gift as a charitable donation, the PenFed Foundation’s policy is to ask the donor to place a value on the in-kind gift.

Please email mission@penfed.org, and we would be happy to send you a receipt.

Military Heroes Program

Please contact mission@penfed.org with any questions.

Veteran Entrepreneur Program

General

The VEP is a PenFed Foundation initiative that helps military Veterans and military spouses grow successful businesses. The program offers two main tracks — an Accelerator for existing businesses ready to scale, and an Incubator for early-stage or idea-phase ventures.

A Veteran or military spouse who is the majority owner of the business.

Incubator: Best for entrepreneurs in the idea-to-MVP stage who may eventually fit the accelerator model or those starting lifestyle, franchise, or local service businesses (e.g., salons, food trucks, consulting).

  • “Veteran or military spouse with an idea for a business, have no minimum viable product (MVP) or customers?” Apply for the Incubator

Accelerator: Designed for established companies with customers, traction, or scalable potential (e.g., tech, manufacturing, or national product lines). If your business idea is still being validated, start with the Incubator. If you’re looking to grow or scale your business, choose the Accelerator.

  • “Veteran or military spouse business founder, have an MVP (minimum viable product) and early customers, want growth/funding?” Apply for the Accelerator 

There is no cost to participate in either program. For the Accelerator program, we cover travel expenses including economy flights, hotel, and meals. For the Incubator, we cover all meals.

Our program is industry agnostic, but we do give priority to national security and defense businesses. What matters most is your commitment, readiness to learn, and potential for growth and impact.

You are expected to attend all sessions, to be engaged in the workshops, and to be coachable. We pride ourselves on ongoing relationships with our alumni, so your willingness to stay engaged with the Foundation staff is also a key to success.

Yes, we are happy to have you and your co-founder attend. For the Accelerator, we will cover costs for Veteran or milspouse co-founders. If your co-founder is not a Veteran or military spouse, they are still welcome to attend but must cover their own expenses. A max of two founders can participate, and we do not accept anyone other than founders into the program.

We are always looking for impactful mentors, speakers, and sponsors. If you are interested, please email mission@penfed.org

Selection Process

The selection process is highly competitive. The selection committee reviews applications on a monthly basis. Those who move to the next phase will be contacted by program staff to set up an interview in which we will get to know more about the founder and the business. Upon completion of the interview round, the selection committee meets again to discuss and make final recommendations. This process can be lengthy. If you have applied and haven’t received email communication from one of our staff, no decisions have been made yet. Someone from the VEP staff will contact each applicant whether you are or are not accepted into the program.

You may only participate in one program per year, but many founders may start with the Incubator and later advance to the Accelerator as their business grows.

Apply for the program that you feel best suits your business at its current stage. As we review applications, if we believe you would be a better fit for another program, we will reach out and let you know.

Graduates join our growing alumni network, and it is our hope that you will continue to engage with both your fellow veteran alumni as well as Foundation staff. As your businesses continue to grow and scale, we would love for our alumni to give back through mentorship, participation in cohort events, and recruitment efforts.

Partner With Us

To learn more about partnership opportunities, please contact Mary O’Kane at mission@penfed.org.

We offer various levels of partnership – learn more at Philanthropic Partners.

For additional information, please contact Mary O’Kane at mission@penfed.org.