The PenFed Foundation

What The PenFed Foundation does

The PenFed Foundation for Military Heroes (legally Pentagon Federal Credit Union Foundation) is a 501(c)(3) nonprofit organization founded in 2001 and headquartered in Alexandria, Virginia, with a mailing address in Tysons. It is affiliated with PenFed Credit Union, which covers most of its administrative costs and salaries, allowing donations to flow directly to programs. The foundation operates two core programs: the Military Heroes Program, which issues grants to nonprofit partner organizations serving military communities, and the Veteran Entrepreneur Program (VEP), a free, equity-free accelerator/incubator for veteran and military-spouse founders, restructured in 2026 into separate Incubator and Accelerator tracks.

The foundation's revenue is generated through individual and corporate donations, event-based fundraising (Celebration of Service Gala, Military Heroes Golf Classic in Washington D.C. and South Carolina), annual car raffles, and philanthropic partnerships. Its customer segments include veterans, active-duty service members, and military spouses seeking transition support, financial assistance, career development, and entrepreneurship programs, as well as veteran-focused nonprofit organizations receiving grant funding. Named grantee and partner organizations include Provalus, First Flight Venture Center, Canine Companions, Culinary Institute of America, SMART Heroes, Team Rubicon, and others.

Since inception, the foundation has provided more than $55 million in financial support to veterans and military families and has accelerated over 120 military founders through VEP since 2018, with VEP now delivered across multiple U.S. cities including Raleigh, Pittsburgh, New York City, Boston, San Antonio, Tysons, and Bentonville. Additional program lines include Honor Flights, a service dog initiative, individual grants for career certifications, and a Real Heroes real estate career program through PenFed Realty. The organization is governed by a board chaired by former Secretary of the Air Force Deborah Lee James, with PenFed Credit Union CEO James Schenck also serving as foundation CEO.

Name

The PenFed Foundation

Legal name

Pentagon Federal Credit Union Foundation

Website

https://penfedfoundation.org

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

The PenFed Foundation for Military Heroes is a 501(c)(3) nonprofit, affiliated with PenFed Credit Union, that provides grants, entrepreneurship programs, and support services to veterans, active-duty service members, and military families nationwide, having delivered over $55 million in support since 2001.

Ownership category

akta.pro rank

Product category

Veteran Services Nonprofit Foundation

NAICS

Grantmaking Foundations (813211), Grantmaking and Giving Services (8132)

SIC

Savings Institution, Federally Chartered (6035), Asset-Backed Securities (6189)

akta.pro primary industry

Veterans & Military Family Benefits Administration (BPAIAKAI)

akta.pro secondary industry

Veterans, Military & Employer/Third-Party Billing Benefits (EDALAJAJ)

Keywords

• Veteran support services
• Nonprofit foundation
• Military community programs
• Veteran entrepreneurship
• Charitable grants

Headquarters

HQ city

Alexandria

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Donations and Contributions: The foundation receives donations from individuals, corporations, and philanthropic partners. PenFed Credit Union covers most administrative costs, allowing donations to go directly to programs.
2. Car Raffle Program: Annual raffle program selling tickets for a chance to win a vehicle. The 2025 raffle offered a 2025 Toyota Camry Hybrid SE valued at $27,854 with 6,000 tickets sold at $75 each.
3. Event-based Fundraising: Revenue generated from gala events, golf tournaments, and other fundraising activities including ticket sales, sponsorships, and auction items.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

The PenFed Foundation for Military Heroes is a 501(c)(3) nonprofit that delivers programs and grants supporting veterans, active-duty service members, and military families in their transition to civilian life. Its core offerings include the Military Heroes Program (grantmaking to veteran-serving nonprofits) and the Veteran Entrepreneur Program (a free, equity-free incubator and accelerator for veteran and military spouse founders). It supplements these with fundraising vehicles such as an annual car raffle, golf tournaments, and a gala.

Product overview

The PenFed Foundation for Military Heroes is a 501(c)(3) nonprofit organization that operates as a portfolio of veteran support programs rather than a unified software product. The foundation's core offerings include the Military Heroes Program (which provides grants to veteran service organizations), the Veteran Entrepreneur Program (offering both Incubator and Accelerator tracks for veteran business founders), and various fundraising initiatives including Car Raffles, Golf Classics, and the Celebration of Service Gala. Additional programs include Honor Flights, the Service Dog Initiative, and Individual Grants for veteran education and career development. The foundation is affiliated with PenFed Credit Union and has provided over $55 million in financial support to veterans since its founding in 2001.

Differentiator

Problem solved

Functional benefit

Products and services

• Military Heroes Program A grantmaking program that forms partnerships with nonprofit organizations working within military communities and empowers military heroes through financial support. The program distributes grants to veteran service organizations focused on employment, housing, service dogs, career training, and educational support.
• Veteran Entrepreneur Program (VEP) A free, equity-free accelerator/incubator program providing veteran and military spouse founders with access to mentorship, startup capital, and a network of investors and industry leaders. Includes three-day in-person cohort sessions followed by six weeks of virtual instruction. Has accelerated over 120 military founders since 2018.
• Veteran Entrepreneur Program – Incubator Track A track within VEP designed for early-stage veteran founders at the idea-to-minimum-viable-product stage, providing mentorship, hands-on training, and networking to help participants build launch-ready businesses.
• Veteran Entrepreneur Program – Accelerator Track A track within VEP serving veteran and military-spouse entrepreneurs at later business stages than the incubator track, providing networking, mentorship, and access to capital.
• Car Raffle Program Annual fundraising raffle program where participants purchase tickets for a chance to win a vehicle, with proceeds supporting veterans and military families. The 2025 raffle offered a 2025 Toyota Camry Hybrid SE valued at $27,854, with 6,000 tickets sold at $75 each.
• Military Heroes Golf Classic Annual golf tournament fundraising events held in Washington, D.C. and South Carolina that raise funds for the foundation's veteran support programs.
• Celebration of Service Gala Annual gala event that honors individuals and organizations for contributions to military, veteran, and aviation communities while raising funds for the foundation's programs. The April 2026 event in Chantilly, Virginia raised over $1.3 million.
• Honor Flight Program Program that sponsors Honor Flights for veterans to visit memorials in Washington, D.C., honoring those who have served. The foundation has sponsored flights from Puerto Rico and other locations, with priority to WWII, Korea, and Vietnam veterans.
• Service Dog Initiative A nationwide partnership with Canine Companions (and partners including Patriot Service Dogs, Believet Canine Service Partners, and Working Dogs for Vets) to advance the provision of service dogs to disabled veterans and people with disabilities, including recruitment of volunteer puppy raisers and workplace service-dog programs.
• Culinary Institute of America Grant Program Grant program providing up to $2,500 to eligible veterans for ProChef Certifications, CIA Boot Camps, or other CIA programs to support careers in the culinary arts.
• Real Heroes Program A program through PenFed Realty's Mid-Atlantic Region that helps veterans, active-duty service members, and military spouses launch careers in real estate, covering up to $2,500 in upfront costs for a real estate license.
• Individual Grants Program Grants to individual veterans and transitioning service members for educational and professional development programs such as Project Management Professional certification, William & Mary Veteran-to-Executive certificates, and other career training programs.

Quantifiable outcome

• Over 120 military founders accelerated through the Veteran Entrepreneur Program since 2018
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

17 partnerships are on record, tiered core and minor.

• Lone Eagle HubcoreStrategic or Co-development Partner · 6 April 2026Sponsoring Honor Flight from Puerto Rico to Washington D.C. for veterans to visit memorials. Honors veterans who served up through May 1975, with priority to WWII, Korea, and Vietnam veterans.
• ProvaluscoreStrategic or Co-development Partner · 26 March 2026Partnership to expand career opportunities for veterans and military families in underserved rural communities. Collaboration focuses on training and job placement in technology and service sectors to facilitate transition from military to civilian careers. Provalus, founded in 2017, is a U.S.-based outsourcing organization focused on creating technology opportunities in rural, veteran-heavy American communities.
• Warriors & Quiet Waters FoundationminorStrategic or Co-development Partner · 25 January 2026Therapeutic outdoor experiences including fly-fishing and nature retreats for post-9/11 combat veterans in Bozeman, Montana. Supports transition to civilian life.
• SMART Heroes ProgramcoreStrategic or Co-development Partner · 23 January 2026Career training program for transitioning service members and veterans in the electrical construction industry. Has graduated over 500 veterans. Foundation awarded $50,000 grant.
• The Sandbox at Reveille GroundsminorStrategic or Co-development Partner · 21 January 2026$25,000 grant to support life and career exploration resources for veterans, military spouses, and families in Baltimore, Maryland.
• First Flight Venture CentercoreStrategic or Co-development Partner · 20 January 2026Partnership to host Veteran Entrepreneur Program incubator cohort in Raleigh, North Carolina. First Flight Venture Center serves as the local host and partner for the three-day in-person program followed by six weeks of virtual instruction.
• Vigilant Torch FoundationminorStrategic or Co-development Partner · 18 January 2026Grant to support transition programs for veterans, particularly those from the special operations community. Organization helps veterans develop skills, resources, and connections for civilian life.
• Team RubiconminorStrategic or Co-development Partner · 16 January 2026Grant to veteran-led disaster response organization for California wildfire relief and mitigation efforts. Supports wildfire mitigation, recovery, and response efforts in Los Angeles County and Ventura County.
• Wreaths Across AmericaminorStrategic or Co-development Partner · 17 November 2025Partnership to honor nation's heroes by laying wreaths on veterans' graves. $5 of every $17 wreath donated supports The PenFed Foundation for Military Heroes. Foundation volunteers at Arlington National Cemetery.
• CreatiVetsminorStrategic or Co-development Partner · 10 November 2025Sponsored first songwriting workshop for veterans in Puerto Rico where U.S. Coast Guard veteran Robert Prieto co-wrote song 'We Puerto Rico' with Howie Dorough from Backstreet Boys.
• Patriot Service DogsminorStrategic or Co-development Partner · 23 July 2025Service dog program expanding life-coaching for incarcerated women who train dogs for veterans in WOOF Prison Program.
• Believet Canine Service PartnersminorStrategic or Co-development Partner · 23 July 2025Canine Service Dog Program providing trained service dogs to veterans living with PTSD, TBI, and mobility challenges in Minnesota, Wisconsin, and Iowa.
• Working Dogs for VetsminorStrategic or Co-development Partner · 23 July 2025Equips veterans with service dogs and training promoting healing, resilience, and reentry into civilian life in Tennessee.
• Tony La Russa / Celebrate Cardinals ChampionshipsminorGTM or Marketing Partner · 10 June 2025Nonprofit partner for Celebrate Cardinals Championships event in St. Louis, Missouri. Event celebrates Cardinals teams from 2000-2011 with proceeds supporting the foundation's mission.
• Culinary Institute of America (CIA)minorStrategic or Co-development Partner · 7 March 2025Partnership to support veterans pursuing careers in culinary arts through CIA Grant Program. Veterans can receive grants up to $2,500 for ProChef Certifications, CIA Boot Camps, or other CIA programs not covered by GI Bill.
• Canine CompanionscoreStrategic or Co-development Partner · 8 January 2024Groundbreaking partnership to advance provision of service dogs to disabled veterans and people with disabilities. Nationwide campaign to boost recruitment of volunteer puppy raisers and advocate for corporations to raise service dogs in the workplace.
• PenFed Realty / Real Heroes ProgramminorStrategic or Co-development PartnerProgram helping veterans, active-duty service members, and military spouses launch careers in real estate by covering up to $2,500 in upfront costs.

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Pat Tillman Foundation: Provides scholarships and leadership development to veterans and military spouses. Comparable in military-family mission, scholar funding model, and national brand-driven fundraising approach.
• The Mission Continues: Empowers veterans to continue service through community impact leadership programs. Comparable focus on veteran transition and a similarly structured fellowship-style program delivery model.
• Team Rubicon: Veteran-led disaster response nonprofit that combines service opportunities with veteran reintegration. Comparable as a grant recipient and peer organization focused on veteran transition, and an existing PenFed Foundation partner.
• Canine Companions for Independence: Provides trained service dogs to veterans and people with disabilities. Directly comparable to PenFed's Service Dog Initiative and an existing partner; similar national campaign-based funding model.
• Fisher House Foundation: Provides housing and support to military and veteran families during medical crises. Closely comparable mission focus on military families and a similar grantmaking-plus-direct-program operating model.
• Wounded Warrior Project: One of the largest U.S. veteran-services nonprofits, offering programs in mental health, career transition, and physical wellness. Directly comparable as a national 501(c)(3) serving veterans with a similarly broad program portfolio and event-driven fundraising model.
• Student Veterans of America: National nonprofit supporting veterans in higher education through chapters, scholarships, and advocacy. Comparable to PenFed's education grants and Individual Grants program targeting veteran students.
• Bunker Labs: National nonprofit that supports veteran and military-spouse entrepreneurs through incubators, mentorship, and capital networks. The most direct comparable to the Veteran Entrepreneur Program.
• Hire Heroes USA: Focused exclusively on veteran employment translation, offering resume, interview, and job placement services. Directly comparable to PenFed's employment-focused grants (e.g., SMART Heroes, Real Heroes).
• American Corporate Partners (ACP): Connects veterans with corporate mentors for career development. Comparable in the career-transition segment of PenFed's mission and similarly structured around corporate volunteer engagement.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCeHbAXgOZ1i5X4pUlYEsdPA
• Facebookfacebook.com/PenFedFoundation
• LinkedInlinkedin.com/company/the-penfed-foundation
• Instagraminstagram.com/penfed_foundation
• Xx.com/PenFedFound

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments38 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The PenFed Foundation