Seal Future Foundation INC FY2019 filing

Tax-deductible

New York, NY501(c)(3)Foundations & GrantmakersEIN 46-0565393Revenue $928K in FY2019

On file with the IRSsealff.org32 Third Avenue 393, 10003-5504 · New York, NYTax-exempt since Oct 2014Publicly supported charity — 170(b)(1)(A)(vi)

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To provide navy seals a Foundation that supports their well-being, education, and career to continue a life of service within their communities.

501(c)(3) charity; gifts are tax-deductible.
66¢ of each $1 spent went to programs.
$122K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2019 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $248K a year · 10% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
66%
of spending
Fine: 66% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$122K
to officers and key staff · 12% of spending
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
32
named funders · $1.1M
Looks good: 32 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$35K
9% of total assets
Looks good: liabilities are 9% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$928K
Spent
$996K
To programs
66%
Net assets
$371K
By yearFY2019–FY2024
Revenue
$928K
FY2019
Tap a bar for its year
Revenue by fiscal year
FY2019$928K
FY2020$1.3M
FY2021$3.7M
FY2022$2.4M
FY2023$3.6M
FY2024$3.6M
Expenses
$996K
FY2019
Tap a bar for its year
Expenses by fiscal year
FY2019$996K
FY2020$1.2M
FY2021$1.9M
FY2022$3.2M
FY2023$3.2M
FY2024$3.5M
Net assets
$371K
FY2019
Tap a bar for its year
Net assets by fiscal year
FY2019$371K
FY2020$553K
FY2021$2.3M
FY2022$1.4M
FY2023$1.8M
FY2024$2.0M

From the FY2019 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2019 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2014.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

66 cents of each dollar spent went to programs.

Program services 66% · $659K Management & general 34% · $337K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990; $122K paid to officers and key staff.

Part VII, Section A · reportable compensation
Chairman and CEO
$122,500Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
President and Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A

Paul Thoma’s $165K as CEO (thru 12/24) is at the 69th percentile of top reported officer pay among 1690 $1–10M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020FY2019
Paul Thoma$165,000$157,500$145,000———
Anthony Page$141,750$141,750$117,500———
Joey Fio$141,750$141,750$126,250———
Caleb Foreman—$141,750————
Jonathan Wilson——$18,750$91,017$120,000$122,500
Ty Bathurst——$120,417———
Joel Beam——$61,932———
Paul Polakowski III———$48,000——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Supports Navy SEALs' well-being, education, and careers for continued community service.

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Provided by the organization

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1 program · $659K · in their own filed words · FY2019
01

During the reporting year, the organization provided its programs and services to 209 new SEALs, for a total of 561 served since inception. The organization experienced an 100% transition success rate and provided health support services to 151 SEALs, fully established 24 Forward Operating Bases across the country to facilitate community…

$659Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 32 funders →
Grants paid · 11 grants · $460K · 2020–2024
Unitemized GrantFY2024$83,615
Unitemized GrantFY2024$36,000
Unitemized GrantFY2023$47,843
Unitemized GrantFY2023$19,357
Unitemized GrantFY2022$101,702
Unitemized GrantFY2022$54,167
Unitemized GrantFY2021$44,048
Unitemized GrantFY2021$11,257
Unitemized GrantFY2020$48,340
Unitemized GrantFY2020$8,500
Unitemized GrantFY2020$5,000

By the numbers

The FY2019 990, line by line.

1The main four
Money inPt VIII
$928K
Ln 12
Gifts and grantsLn 1h$535K
Other incomeLn 4–11$391K
Investment incomeLn 3$3K
Money outPt IX
$996K
Ln 25
Programscol B$659K
Managementcol C$337K
Owns and owesPt X
$371K
net assets · Ln 32
Cash and savingsLn 1–2$245K
Total assetsLn 16$405K
LiabilitiesLn 26$35K
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$535K
Investment incomeLn 3$3K
Other incomeLn 4–11$391K
Gains on assetsLn 7$2K
Total revenueLn 12$928K
Assets in detailPt X, end of year
CashLn 1$185K
SavingsLn 2$60K
Cash and savings togetherLn 1–2$245K
InvestmentsLn 11–13$2K
Land, buildings, equipmentLn 10c$5K
Other assetsLn 15$22K
Total assetsLn 16$405K
LiabilitiesLn 26$35K
Net assetsLn 32$371K
OperationsPt I, VI
EmployeesI 511
VolunteersI 61,200
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY19End FY19
Cash and savingsLn 1–2$301K$245K
InvestmentsLn 11–13$2K
Land, buildings, equipmentLn 10c$6K$5K
Total assetsLn 16$462K$405K
LiabilitiesLn 26$24K$35K
Net assetsLn 32$438K$371K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$628K$628K
Pay of current officers, directors and key staffLn 5$172K$172K
Other employee benefitsLn 9$632$632
Payroll taxesLn 10$14K$14K
Legal feesLn 11b$12K$12K
Accounting feesLn 11c$39K$39K
Other fees for servicesLn 11g$45K$45K
Advertising and promotionLn 12$30K$30K
Office expensesLn 13$34K$34K
OccupancyLn 16$7K$7K
TravelLn 17$9K$9K
Depreciation, depletion and amortizationLn 22$1K$1K
InsuranceLn 23$3K$3K
Total functional expensesLn 25$996K$659K$337K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3.6M$3.5M$147K$2.0M 990 PDF
FY2023 $3.6M$3.2M$369K$1.8M 990 PDF
FY2022 $2.4M$3.2M−$860K$1.4M 990 PDF
FY2021 $3.7M$1.9M$1.7M$2.3M 990 PDF
FY2020 $1.3M$1.2M$182K$553K 990 PDF
FY2019 Viewing $928K$996K−$67K$371K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2019 990 (6 parts)
Part I · Summary $928,141 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $253,834$534,623
I-9 Program service revenue$0
I-10 Investment incomePrior year $369$2,640
I-11 Other revenuePrior year $361,668$390,878
I-12 Total revenuePrior year $615,871$928,141
I-13 Grants and similar amounts paidPrior year $410,387$628,354
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $196,039$187,065
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $114,824$180,121
I-18 Total expensesPrior year $721,250$995,540
I-19 Revenue less expensesPrior year −$105,379−$67,399
Part VI · Governance 8 of 8 board members independent, no flags
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $928,141 across 6 lines filed
VIII-1f All other contributions, gifts and grants$534,623
VIII-1h Total contributions, gifts and grants$534,623
VIII-3 Investment incomeExcluded from tax $280$280
VIII-7 Net gain or loss on sales of assetsExcluded from tax $2,360$2,360
VIII-8 Net income from fundraising eventsExcluded from tax $390,878$390,878
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $393,518$928,141
Part IX · Statement of functional expenses $995,540 across 13 lines filed
IX-2 Grants to domestic individualsPrograms $628,354$628,354
IX-5 Pay of current officers, directors and key staffManagement $172,483$172,483
IX-9 Other employee benefitsManagement $632$632
IX-10 Payroll taxesManagement $13,950$13,950
IX-11b Legal feesManagement $11,780$11,780
IX-11c Accounting feesManagement $38,751$38,751
IX-11g Other fees for servicesManagement $45,200$45,200
IX-12 Advertising and promotionPrograms $30,422$30,422
IX-13 Office expensesManagement $33,830$33,830
IX-16 OccupancyManagement $6,573$6,573
IX-17 TravelManagement $9,119$9,119
IX-22 Depreciation, depletion and amortizationManagement $1,173$1,173
IX-23 InsuranceManagement $3,273$3,273
IX-25 Total functional expensesPrograms $658,776 · Management $336,764 · Fundraising $0$995,540
Part X · Balance sheet $405,489 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $59,104$184,635
X-2 Savings and temporary cash investmentsStart of year $241,924$60,018
X-3 Pledges and grants receivableStart of year $10,100$40,100
X-8 Inventories for sale or useStart of year $143,531$81,085
X-9 Prepaid expenses and deferred chargesStart of year $404$10,475
X-10c Land, buildings and equipment, netStart of year $6,250$5,077
X-11 Publicly traded securities$2,297
X-15 Other assetsStart of year $1,052$21,802
X-16 Total assetsStart of year $462,365$405,489
X-17 Accounts payable and accrued expensesStart of year $24,437$34,960
X-26 Total liabilitiesStart of year $24,437$34,960
X-27 Net assets without donor restrictionsStart of year $437,928$370,529
X-32 Total net assets or fund balancesStart of year $437,928$370,529
X-33 Total liabilities and net assetsStart of year $462,365$405,489
Part XI · Reconciliation of net assets $370,529 net assets at year end
XI-1 Total revenue$928,141
XI-2 Total expenses$995,540
XI-3 Revenue less expenses−$67,399
XI-4 Net assets at start of year$437,928
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$370,529

Form 990 e-file (XML) FY2019 from the IRS · Classification, formation year and address from the IRS Business Master File

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