The 1162 Foundation

Nonprofit profile at a glance

EIN
842523217
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2019
Location
Sunapee, NH, USA
Phone
7572566400
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Reported finances

Revenue
$154,987
Expenses
$650,978
Assets
$25,870
Liabilities
$195,000

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

Leadership & pay

3 people listed

People named in this filing

  • SHAWN REGAN (CHAIRMAN)
  • MICHAEL HAYES (DIRECTOR)
  • MICHAEL FISCH (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To engage in select, highly curated charitable missions for the benefit of surviving spouses, signficant others, and children of former special operation military personnel killed or wounded in action, with the goal of serving as a catalyst to enable families to stabilize, rebuild their lives, and for them to perhaps contribute to peace and security in this country and beyond

What it reported doing in 2024

The foundation was able to assist a family who experienced the loss of a former special operation military member by paying off the remainder of their home mortgage in 2024.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 94
  • Accountability: 57
  • Sustainability: 9
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.7%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 18th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -320%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0.04; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 7.54; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -1.6% per year; rating input score 0; 25th percentile among comparable filings
  • Revenue growth: -1% per year; rating input score 0; 20th percentile among comparable filings
  • Asset growth: 32.9% per year; rating input score 100; 93rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.7% of spending went to programs
  • Governance: 2 of 3 board members independent · 3 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $642K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.