PenFed Foundation recognized with a $150,000 gift at the annual NAPE Charities Luncheon.

The PenFed Foundation received a donation of $150,000 at the NAPE Charities Luncheon as part of the NAPE Expo in Houston, Texas. Katie Watson and David Clark accepted the donation on behalf of the Foundation, and David Clark gave remarks to the audience. Former Secretary of Defense Mark Esper was the keynote speaker at the luncheon.

The NAPE Expo Charities Fund (the “Fund”) has awarded almost $6 million in grants to Veterans’ charities since 2009. The Fund’s primary focus is to support charities providing direct, unique, and vital services to our heroic American Veterans. Each year, the Fund conducts a thorough review of our applicants to award grants to charities. This process includes analysis of several standards, including (i) top ratings on Guidestar or Charity Navigator, (ii) substantial portion of annual revenues going directly into services, and (iii) minimal expenses for overhead and administrative costs.

PenFed Foundation checked all the right boxes in 2022 and again in 2023 to earn grants from the Fund totaling $235,000. The Fund is proud to support the unique benefits of PenFed’s Veteran Entrepreneur Investment Program, which empowers military service members and Veterans with the skills and resources to realize financial stability and opportunity. At the same time, the Fund recognizes PenFed’s high services-to-revenue ratio and low overhead and administrative costs over the last three years of financial reporting.

David R. Cape, NAPE Operators Committee Chairman, 2022-23