Foundation for Underwater Research and Education
Nonprofit profile at a glance
- EIN
- 521652248
- IRS 990-EZ coverage
- 2015–2024
- Forms available
- Form 990 2014, Form 990-EZ 2024, Form 990-N 2012
- Location
- Arlington, VA, USA
- Rating
- 53
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $6,000
- Expenses
- $6,812
- Assets
- $48,300
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
10 people listed
Executive titles in this filing
- Vincent Malkoski (Chairman President)
- Serena Padilla (Director Vice President)
People named in this filing
- Vincent Malkoski (Chairman President)
- Pamela E Corry (Treasurer)
- Dave Peterson (Secretary)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Advancing marine tech and ocean engineering by investing in todays youth
What it reported doing in 2024
FURE conducted the 17th biennial Intl Submarine Races in 2023. University students, individuals are required to design, construct race a person powered submarine. The ISR is a STEM event for young people around the world.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Transfer-based 990-EZ. The 990-EZ reports grants or member benefits, but it does not separate enough spending to show the nonprofit’s full delivery mix.
The verdict
MIXED - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 21
- Transparency & Controls: 100
- Sustainability: 46
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 33.3%; rating input score 33
- Program expense ratio: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: -13.5%; rating input score 28; 28th percentile among comparable filings
- Total-asset coverage ratio: 7.09; rating input score 89; 89th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: -3% per year; rating input score 0; 40th percentile among comparable filings
- Revenue growth: -5.5% per year; rating input score 0; 33rd percentile among comparable filings
- Asset growth: -1.8% per year; rating input score 0; 32nd percentile among comparable filings
Details
- Where the money goes: 33.3% of revenue deployed
- Governance: Filed governance answers
- Accomplishments: 2 filed program accomplishments
- Leadership: top reported pay $0 · 10 people listed
- Consistency: 6 of 6 current checks pass
- Schedules: 3 filed schedules
- Filing history: 9 filing years from 2015 to 2024
- Contacts: How to reach this organization
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Financial Efficiency: Mission deployment rate scored 33/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 28/100.
- High — Growth: Asset growth scored 0/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.