This didn't involve much research.. (sourced via www.snopes.com )
"In answer to your inquiry:
The American Legion, as it has on every inauguration evening since 1953, hosted the Salute to Heroes Inaugural Banquet & Ball on January 20th. The quadrennial event is co-sponsored with fourteen veterans service and military service organizations and honors recipients of the Medal of Honor. Forty-seven of these heroes attended this year’s event which was held in the Renaissance Washington DC Hotel.
President Obama was invited but did not attend. Vice-President Joe Biden did appear, however, and was very warmly received. The new President’s absence was understandable considering the unprecedented logistical challenges presented by the vastly increased number of visitors to this inauguration and the necessary attendant security measures. The American Legion, as an organization, does not feel offended or “snubbed.”
Media Relations Manager
The American Legion
1608 K Street, NW
Washington, DC 20006