2016-11-15T14:41:59-06:00 2015-12-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 1650 MARKET STREET SUITE 4500 PHILADELPHIA PA 19103 990EZ 2015-01-01 460565393 SEAL FUTURE FUND INC SEAL 6464792294 1 ASTOR PLACE NO 6B NEW YORK NY 10003 YENIENEH YESUS SECRETARY/TREASURER 6464792294 2016-11-15 1 JULIUS C GREEN CPA P00350393 2159720701 2015 2017-02-10 21:41:12Z X WWW.SEALFUTUREFUND.ORG X X 166155 X 143948 21423 16133 5290 784 150022 105000 27000 1100 26078 50439 209617 -59595 79471 0 19876 X 65082 16565 14389 8311 79471 24876 0 5000 79471 19876 X THE SEAL FUTURE FUND'S (SFF) MISSION IS TO PROVIDE RESOURCES TO EQUIP ACTIVE DUTY AND VETERAN NAVY SEALS FOR SUCCESS IN THE CIVILIAN WORLD. THE MISSION OF SFF IS TO PROVIDE RESOURCES TO EQUIP ACTIVE DUTY, RETIRED, AND VETERAN NAVY SEALS FOR SUCCESS IN THE CIVILIAN WORLD.THE FOUNDERS OF SFF IDENTIFIED SEVERAL FINANCIAL, PROFESSIONAL, AND CULTURAL CHALLENGES THAT SEALS FACE WHEN TRANSITIONING TO CIVILIAN LIFE. THEY ALSO RECOGNIZED THAT THE SEAL COMMUNITY IS FILLED WITH EXCEPTIONALLY TALENTED INDIVIDUALS WHO HAVE BEEN TESTED AND PROVEN UNDER EXTREME CONDITIONS. WITH HELP, THESE INDIVIDUALS REPRESENT A TALENT POOL THAT IS TO DATE LARGELY UNDERUTILIZED BY CIVILIAN INSTITUTIONS.SFF WORKS TO ACHIEVE ITS MISSION BY IDENTIFYING THE KEY POINTS OF FRICTION IN THIS TRANSITION AND DEVELOPING PROGRAMS TO HELP GUIDE SEALS PAST THEM. SFF PROVIDES:EDUCATIONAL ASSISTANCEINDUSTRY EXPOSUREPROFESSIONAL NETWORKINGEDUCATIONAL ASSISTANCEIN THE FIRST QUARTER OF 2015, SFF PAID ITS FIRST ROUND OF SCHOLARSHIPS FROM 2014: NINE $5,000 SCHOLARSHIPS TO ACTIVE AND VETERAN SEALS WHO WERE ENROLLED IN QUALIFYING EDUCATIONAL INSTITUTIONS FOR THE 2014-2015 SCHOOL YEAR. FOR THE 2015 SCHOLARSHIP, SFF DOUBLED THE AWARD AMOUNT TO UP TO $10,000 PER SCHOLARSHIP, AND PAID SIX OF THE TEN FOR THE YEAR. SFF RECEIVED OVER TWICE AS MANY APPLICATIONS FOR 2015'S SCHOLARSHIP VERSUS 2014'S.INDUSTRY EXPOSURE & PROFESSIONAL NETWORKINGTWO OF THE KEY FRICTIONS IN A VETERAN'S TRANSITION ARE THEIR LACK OF CIVILIAN INDUSTRY EXPOSURE AND THEIR LACK OF A PROFESSIONAL NETWORK OUTSIDE OF THE NAVY. A SEAL WHO HAS SPENT TEN YEARS IN THE NAVY DOES NOT KNOW THE FULL RANGE OF CAREERS AVAILABLE TO HIM WHEN HE LEAVES THE SERVICE, AND HE HAS NOT BUILT UP A NETWORK OF CONTACTS.IN THE SUMMER OF 2015, THE SFF WORKED WITH CITIGROUP TO HOST A WORKSHOP ON CAREERS IN FINANCE FOR VETERANS. SFF ALSO WORKED WITH THE PHILANTHROPIC FOUNDATION, ANOTHER NEW YORK BASED 501(C)3, TO HOST A NETWORKING EVENT FEATURING ACTIVE DUTY SEALS IN UNIFORM MEETING WITH A WIDE RANGE OF FINANCE PROFESSIONALS.IN THE FOURTH QUARTER OF 2015, SFF ESTABLISHED A PRESENCE IN THE SAN DIEGO METRO AREA, WHERE IT HOSTED NETWORKING EVENTS FOR LOCAL SEALS AND BUSINESS PEOPLE LOOKING TO HIRE VETERANS. 105000 122704 122704 MICHAEL J FERRUCCI DIRECTOR 1.00 0 0 0 JEFF BOSS DIRECTOR 1.00 0 0 0 JASON LARSON DIRECTOR 1.00 0 0 0 JAKE BULLOCK DIRECTOR 1.00 0 0 0 JAY CECIL DIRECTOR 1.00 0 0 0 DUSTIN P BRANCH DIRECTOR 1.00 0 0 0 BRIAN MARTELLI CHAIRMAN 40.00 4000 0 0 JONATHAN WILSON VICE PRESIDENT 5.00 0 0 0 WILLIAM MCCUEN PRESIDENT 2.00 0 0 0 YENIENEH YESUS MANAGING DIRECTOR 20.00 23000 0 0 X 0 1 0 0 0 0 1 5000 0 0 0 0 0 0 0 NY YENIENEH YESUS 1 ASTOR PLACE SUITE 6B NEW YORK NY 10003 9732147189 0 0 0 0 0 0 0 0 0 0 NONE NONE 1 X 15348 82676 66083 143948 308055 15348 82676 66083 143948 308055 114734 193321 1080 784 1864 309919 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MERCHANDISE REVENUE - 2014 AMOUNT: $ 1,080. 2015 AMOUNT: $ 72. OTHER EVENTS REVENUE - 2015 AMOUNT: $ 712. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED CLEVELAND HONORS OUR HEROES 82487 61064 21423 1412 10381 2019 2321 82487 61064 21423 1412 10381 2019 2321 16133 5290 BRIAN D MARTELLI CHAIRMAN OF THE BOARD X 5000 5000 0 0 0 5000 FORM 990-EZ, PART I, LINE 8 - OTHER REVENUE DESCRIPTION: MERCHANDISE REVENUE. AMOUNT: 72. DESCRIPTION: OTHER EVENTS REVENUE. AMOUNT: 712. TOTAL TO FORM 990-EZ, LINE 8: 784. FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: SCHOLARSHIP. GRANTEE NAME: INDIVIDUAL. DATE OF GIFT: 12/31/15. AMOUNT GIVEN: 10,000. FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: SCHOLARSHIP. GRANTEE NAME: INDIVIDUAL. DATE OF GIFT: 12/31/15. AMOUNT GIVEN: 10,000. FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: SCHOLARSHIP. GRANTEE NAME: INDIVIDUAL. DATE OF GIFT: 12/31/15. AMOUNT GIVEN: 10,000. FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: SCHOLARSHIP. GRANTEE NAME: INDIVIDUAL. DATE OF GIFT: 12/31/15. AMOUNT GIVEN: 10,000. FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: SCHOLARSHIP. GRANTEE NAME: INDIVIDUAL. DATE OF GIFT: 12/31/15. AMOUNT GIVEN: 10,000. FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: SCHOLARSHIP. GRANTEE NAME: INDIVIDUAL. DATE OF GIFT: 12/31/15. AMOUNT GIVEN: 10,000. FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: SCHOLARSHIP. GRANTEE NAME: INDIVIDUAL. DATE OF GIFT: 03/03/15. AMOUNT GIVEN: 5,000. FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: SCHOLARSHIP. GRANTEE NAME: INDIVIDUAL. DATE OF GIFT: 02/12/15. AMOUNT GIVEN: 5,000. FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: SCHOLARSHIP. GRANTEE NAME: INDIVIDUAL. DATE OF GIFT: 02/11/15. AMOUNT GIVEN: 5,000. FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: SCHOLARSHIP. GRANTEE NAME: INDIVIDUAL. DATE OF GIFT: 01/29/15. AMOUNT GIVEN: 5,000. FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: SCHOLARSHIP. GRANTEE NAME: INDIVIDUAL. DATE OF GIFT: 01/27/15. AMOUNT GIVEN: 5,000. FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: SCHOLARSHIP. GRANTEE NAME: INDIVIDUAL. DATE OF GIFT: 01/20/15. AMOUNT GIVEN: 5,000. FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: SCHOLARSHIP. GRANTEE NAME: INDIVIDUAL. DATE OF GIFT: 01/13/15. AMOUNT GIVEN: 5,000. FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: SCHOLARSHIP. GRANTEE NAME: INDIVIDUAL. DATE OF GIFT: 01/12/15. AMOUNT GIVEN: 5,000. FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID ACTIVITY CLASSIFICATION: SCHOLARSHIP. GRANTEE NAME: INDIVIDUAL. DATE OF GIFT: 01/12/15. AMOUNT GIVEN: 5,000. TOTAL INCLUDED ON FORM 990-EZ, LINE 10: 105,000. FORM 990-EZ, PART I, LINE 14 DESCRIPTION: DEPRECIATION/AMORTIZATION. AMOUNT: 6,078. DESCRIPTION: OTHER EXPENSES. AMOUNT: 20,000. TOTAL TO FORM 990-EZ, LINE 14: 26,078. FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES DESCRIPTION: EVENT EXPENSES. AMOUNT: 28,102. DESCRIPTION: NETWORKING EVENTS. AMOUNT: 3,883. DESCRIPTION: BUSINESS DEVELOPMENT. AMOUNT: 534. DESCRIPTION: TRAVEL EXPENSES. AMOUNT: 7,804. DESCRIPTION: SAAS EXPENSES. AMOUNT: 3,973. DESCRIPTION: WEBSITE EXPENSES. AMOUNT: 64. DESCRIPTION: GRAPHIC DESIGN. AMOUNT: 1,430. DESCRIPTION: OFFICE EXPENSES. AMOUNT: 566. DESCRIPTION: ADMINISTRATIVE FEES. AMOUNT: 33. DESCRIPTION: OTHER EXPENSES. AMOUNT: 4,050. TOTAL TO FORM 990-EZ, LINE 16: 50,439. FORM 990-EZ, PART II, LINE 24 - OTHER ASSETS DESCRIPTION: OTHER DEPRECIABLE ASSETS. BEG. OF YEAR AMOUNT: 14,389. END OF YEAR AMOUNT: 8,311. FORM 990-EZ, PART II, LINE 26 - OTHER LIABILITIES DESCRIPTION: DUE TO BOARD MEMBER. BEG. OF YEAR AMOUNT: 0. END OF YEAR AMOUNT: 5,000. FORM 990-EZ, PART V, LINE 34, NUMBER OF DIRECTORS: PARAGRAPH 2 OF ARTICLE II OF THE BYLAWS OF THE CORPORATION STATES THAT THE NUMBER OF DIRECTORS CONSTITUTING THE ENTIRE BOARD OF DIRECTORS SHALL BE AT LEAST THREE AND MAY BE FIXED FROM TIME TO TIME BY ACTION OF THE DIRECTORS. IN CONSIDERATION OF THE ABOVE, THE BOARD OF DIRECTORS APPROVED THE INCREASE OF THE NUMBER OF DIRECTORS OF THE CORPORATION FROM EIGHT (8) TO NINE (9). ADOPTION OF SCHOLARSHIP PROGRAM: THE BOARD OF DIRECTORS ACKNOWLEDGED THE FOLLOWING: THE CORPORATION'S MISSION IS TO PROVIDE EDUCATION AND FINANCIAL SUPPORT FOR ACTIVE DUTY, RETIRED, AND VETERAN MEMBERS OF THE NAVY SEALS AND THEIR IMMEDIATE FAMILY MEMBERS. IT IS DEEMED IN THE BEST INTERESTS OF THE CORPORATION TO ADOPT A FORMAL SCHOLARSHIP PROGRAM TO GOVERN THE SCHOLARSHIP GRANT-MAKING ACTIVITY UNDERTAKEN BY THE CORPORATION IN FURTHERANCE OF ITS MISSION. IN CONSIDERATION OF THE ABOVE, THE BOARD OF DIRECTORS APPROVED AND ADOPTED THE SCHOLARSHIP PROGRAM TO GOVERN THE SCHOLARSHIP GRANT-MAKING ACTIVITY UNDERTAKEN BY THE CORPORATION IN FURTHERANCE OF ITS MISSION. DESIGNATION OF SCHOLARSHIP COMMITTEE: THE BOARD OF DIRECTORS ACKNOWLEDGED THE FOLLOWING: PARAGRAPH 5 OF ARTICLE II OF THE BYLAWS OF THE CORPORATION STATES THAT THE BOARD OF DIRECTORS MAY DESIGNATE FROM THEIR NUMBER THREE OR MORE DIRECTORS TO CONSTITUTE A STANDING COMMITTEE, WHICH COMMITTEE SHALL HAVE THE AUTHORITY OF THE BOARD OF DIRECTORS TO THE EXTENT PROVIDED IN THE RESOLUTION DESIGNATING IT, WITH THE EXCEPTION OF ANY AUTHORITY THE DELEGAION OF WHICH IS PROHIBITED BY SECTION 712 OF THE NEW YORK NOT-FOR-PROFIT CORPORATION LAW. IT IS DEEMED IN THE BEST INTERESTS OF THE CORPORATION TO DESIGNATE DIRECTORS TO CONSTITUTE A STANDING SCHOLARSHIP COMMITTEE, WHICH COMMITTEE SHALL BE RESPONSIBLE FOR ADMINISTERING THE CORPORATION'S SCHOLARSHIP GRANT-MAKING ACTIVITY AS PROVIDED IN THE SCHOLARSHIP PROGRAM. THE COMMITTEE IS MADE UP OF FIVE (5) BOARD MEMBERS. IN FURTHER CONSIDERATION OF THE ABOVE, THE BOARD OF DIRECTORS DELEGATED THE FOLLOWING POWERS AND OBLIGATIONS TO THE SCHOLARSHIP COMMITTEE: 1. THE SCHOLARSHIP COMMITTEE IS RESPONSIBLE FOR ADMINISTERING THE CORPORATION'S SCHOLARSHIP GRANT-MAKING ACTIVITY AS PROVIDED IN THE SCHOLARSHIP PROGRAM. 2. THE SCHOLARSHIP COMMITTEE HAS THE AUTHORITY TO SET AND/OR REVISE SUCH RULES AND REGULATIONS WITH RESPECT TO THE SCHOLARSHIP PROGRAM AS IT DEEMS NECESSARY; PROVIDED, HOWEVER, ANY SUCH REVISION MUST SATISFY THE REQUIREMENTS OF SECTION 4945(G)(I) OF THE INTERNAL REVENUE CODE OF 1986, AS NOW ENACTED OR AS HERAFTER AMENDED, AND THE REGULATIONS PROMULGATED THEREUNDER. 3. THE SCHOLARSHIP COMMITTEE IS RESPONSIBLE ON BEHALF OF THE CORPORATION FOR MAINTAINING ADEQUATE RECORDS OF ALL SCHOLARSHIP APPLICATIONS RECEIVED AND OF ALL AWARDS GRANTED. 4. THE SCHOLARSHIP COMMITTEE HAS THE FINAL DECISION REGARDING THE APPROVAL OR DISAPPROVAL OF ALL SCHOLARSHIP APPLICATIONS, AND SCHOLARSHIPS SHALL BE AWARDED SOLELY IN THE ORDER RECOMMENDED BY THE SCHOLARSHIP COMMITTEE. 5. THE SCHOLARSHIP COMMITTEE ALONE SHALL DETERMINE THE AMOUNTS OF THE SCHOLARSHIPS AND AUTHORIZE THEIR PAYMENT BY THE CORPORATION. 6. THE SCHOLARSHIP COMMITTEE SHALL MEET AT LEAST ONCE ANNUALLY TO REVIEW AND, IF NECESSARY, PRESENT TO THE BOARD OF DIRECTORS PROPOSED REVISIONS AS NECESSARY TO THE SCHOLARSHIP SELECTION CRITERIA, AS DESCRIBED IN THE SCHOLARSHIP PROGRAM.