Seal Future Foundation Inc

Nonprofit profile at a glance

EIN
460565393
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-EZ 2015, Form 990-PF 2013
Location
New York, NY, USA
Phone
6468838733
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Official website

Reported finances

Revenue
$3,597,132
Expenses
$3,450,143
Assets
$2,057,117
Liabilities
$99,193

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • PAUL THOMA (CEO (THRU 12/24))
  • WACO DAVIS (CEO (EFF 12/24))

Highest reported compensation

  • PAUL THOMA (CEO (THRU 12/24)): $165,000 total reported compensation
  • ANTHONY PAGE (COO): $141,750 total reported compensation
  • JOEY FIO (CHIEF HEALTH OFFICER): $141,750 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the seal future foundation is to provide navy seals a foundation that supports their well-being, education, and career to continue a life of service within their communities.

What it reported doing in 2024

During the reporting year, the organization provided its four pillars of programs and services (career, education, health, and community) to 566 new seals for total of 5,600 seals served since inception. The organization experienced in 100% transition success rate.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 95% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 83
  • Accountability: 95
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70%; rating input score 70
  • Program expense ratio: 73.5%; rating input score 73
  • Fundraising efficiency: $14.3 raised per $1 spent on fundraising; rating input score 49; 49th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.1%; rating input score 48; 48th percentile among comparable filings
  • Total-asset coverage ratio: 0.6; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 13%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 29.4% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: 26.9% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 26.7% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 70% of revenue deployed · 73.5% of spending went to programs
  • Governance: 9 of 9 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.5M in reported program spending
  • Leadership: top reported pay $165K · 13 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 8 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • 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: Fundraising efficiency scored 49/100.
  • Moderate — Sustainability: Operating margin scored 48/100.
  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • High — Sustainability: Officer compensation ratio scored 22/100.