Us Submarine Veteran Charitable Foundation Inc

Nonprofit profile at a glance

EIN
954830806
IRS 990 coverage
2016–2025
Forms available
Form 990 2025
Location
Groton, CT, USA
Phone
5418793038
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$633,103
Expenses
$373,868
Assets
$1,356,689
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • ROBERT BACHMAN (PRESIDENT)

People named in this filing

  • ROBERT BACHMAN (PRESIDENT)
  • GEORGE PALMER (VP)
  • RANDALL STEIN (TREASURER)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Construction and maintenance of submarine related monuments and memorials. Scholarships to subvet children and grandchildren, maintenance and expansion of a submarine related library, education about the deeds of us submarines, support of various museum submarines.

What it reported doing in 2025

Scholarship program. During fy 12/31/2025, 83 scholarships were awarded to relatives of current and former submarine veterans. Recipients in both the high school and college categories received grants ranging from 1,500 to 2,200. The total amount awarded in fy 12/31/25 was 182,100

Operating model

Revenue model
Donor-supported. 93% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 95% of its reported program spending out as grants.

The verdict

STRONG - 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.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 94
  • Accountability: 82
  • Sustainability: 84
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.5%; rating input score 80
  • Program expense ratio: 82.7%; rating input score 83
  • Fundraising efficiency: $26.68 raised per $1 spent on fundraising; rating input score 63; 63rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 78th 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; 64th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 40.9%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 3.63; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 88; 88th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 16.2% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: 19.1% per year; rating input score 100; 81st percentile among comparable filings
  • Asset growth: 2.3% per year; rating input score 100; 24th percentile among comparable filings

Details

  • Where the money goes: 80.5% of revenue deployed · 82.7% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $309K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 10 filing years from 2016 to 2025
  • Contacts: How to reach this organization
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Review — Accountability: Governance controls: 2 of 6 not reported.