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Nonprofiteer
← PACIFIC FLEET SUBMARINE MEMORIAL ASSOCIATION INC

Form 990 for tax year 2023

Filed by PACIFIC FLEET SUBMARINE MEMORIAL ASSOCIATION INC.

Totals

Total revenue
$10,178,403
Total expenses
$6,769,023
Contributions and grants received
$804,381
Grants paid
$69,216
Program service revenue
$7,938,959
Investment income
$245,058
Other revenue
$1,190,005
Total assets, end of year
$38,784,260
Total liabilities, end of year
$10,605,278
Net assets or fund balances, end of year
$28,178,982
Program services expenses (Part IX)
$5,811,863
Management and general expenses
$917,130
Fundraising expenses
$40,030
Program service expenses (Part III)
$5,811,863

Program services were 85.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1b · Membership dues

    $2,100

  • 1e · Government grants (contributions)

    $546,562

  • 1f · All other contributions, gifts and grants

    $255,719

  • 2a · Program service revenue: ADMISSIONS

    total $7,377,493 · related or exempt $7,377,493

  • 2b · Program service revenue: STORAGE LOCKER FACILITIES

    total $561,466 · related or exempt $561,466

  • 3 · Investment income

    total $325,785 · excluded $325,785

  • 6a · Gross rents

    real property $433,381

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $433,381

  • 6d · Net rental income or loss

    total $433,381 · excluded $433,381

  • 7a · Gross sales of assets other than inventory

    securities $490,155

  • 7b · Less cost or other basis and sales expenses

    securities $553,937 · other assets $16,945

  • 7c · Gain or loss

    securities -$63,782 · other assets -$16,945

  • 7d · Net gain or loss

    total -$80,727 · excluded -$80,727

  • 10a · Gross sales of inventory

    $745,206

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $745,206 · related or exempt $745,206

  • 11a · Other revenue: OTHER REVENUE

    total $7,418 · related or exempt $7,418

  • 11b · Other revenue: RECOVERIES OF BAD DEBTS

    total $4,000 · related or exempt $4,000

  • 11e · Other revenue, total

    $11,418

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $69,216 · program services $69,216

  • 5 · Compensation of officers, directors and key employees

    total $234,176 · program services $117,088 · management and general $105,379 · fundraising $11,709

  • 7 · Other salaries and wages

    total $1,459,610 · program services $1,365,662 · management and general $91,058 · fundraising $2,890

  • 8 · Pension plan contributions

    total $25,254 · program services $24,598 · management and general $656

  • 9 · Other employee benefits

    total $244,954 · program services $221,995 · management and general $21,672 · fundraising $1,287

  • 10 · Payroll taxes

    total $141,239 · program services $124,364 · management and general $15,732 · fundraising $1,143

  • 11c · Fees: accounting

    total $76,947 · management and general $76,947

  • 11f · Fees: investment management

    total $32,006 · management and general $32,006

  • 11g · Fees: other

    total $846,404 · program services $809,919 · management and general $34,999 · fundraising $1,486

  • 12 · Advertising and promotion

    total $143,177 · program services $143,177

  • 13 · Office expenses

    total $324,528 · program services $321,846 · management and general $2,500 · fundraising $182

  • 14 · Information technology

    total $75,832 · program services $66,772 · management and general $8,447 · fundraising $613

  • 16 · Occupancy

    total $921,702 · program services $816,853 · management and general $97,751 · fundraising $7,098

  • 17 · Travel

    total $16,405 · program services $16,405

  • 19 · Conferences, conventions and meetings

    total $13,494 · program services $13,494

  • 20 · Interest

    total $229,916 · management and general $229,916

  • 22 · Depreciation, depletion and amortization

    total $1,108,868 · program services $976,385 · management and general $123,514 · fundraising $8,969

  • 23 · Insurance

    total $317,660 · program services $268,982 · management and general $46,227 · fundraising $2,451

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $344,599 · program services $312,387 · management and general $30,031 · fundraising $2,181

  • 24b · Other expenses: GENERAL EXCISE TAXES

    total $78,567 · program services $78,567

  • 24c · Other expenses: EDUCATION

    total $39,134 · program services $39,134

  • 24d · Other expenses: OTHER EXPENSES

    total $16,240 · program services $16,240

  • 24e · All other expenses

    total $9,095 · program services $8,779 · management and general $295 · fundraising $21

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $933,629 · end of year $926,575

  • 3 · Pledges and grants receivable

    beginning of year $631,486 · end of year $14,815

  • 4 · Accounts receivable

    beginning of year $754,939 · end of year $691,126

  • 9 · Prepaid expenses and deferred charges

    beginning of year $122,254 · end of year $143,318

  • 10a · Land, buildings and equipment: cost or other basis

    $31,298,699

  • 10b · Land, buildings and equipment: accumulated depreciation

    $5,784,065

  • 10c · Land, buildings and equipment, net

    beginning of year $26,019,290 · end of year $25,514,634

  • 11 · Investments: publicly traded securities

    beginning of year $6,604,387 · end of year $11,493,792

  • 17 · Accounts payable and accrued expenses

    beginning of year $735,594 · end of year $634,859

  • 23 · Secured mortgages and notes payable

    beginning of year $10,399,525 · end of year $9,970,419

  • 27 · Net assets without donor restrictions

    beginning of year $23,899,069 · end of year $28,150,123

  • 28 · Net assets with donor restrictions

    beginning of year $31,797 · end of year $28,859

Mission and programs · 2023

Mission

TO ESTABLISH AND MAINTAIN A WORLD WAR II SUBMARINE, MUSEUM, AND MEMORIAL.

  • TO ESTABLISH AND MAINTAIN A WORLD WAR II SUBMARINE, MUSEUM, AND MEMORIAL. TO AWARD ACADEMIC SCHOLARSHIPS THROUGH THE USS BOWFIN MEMORIAL SCHOLARSHIPS (ADMINISTERED BY HAWAII COMMUNITY FOUNDATION) AND USS KAMEHAMEHA SCHOLARSHIPS (ADMINISTERED BY PAUAHI FOUNDATION).

    Expenses $5,811,863 · Grants $69,216 · Revenue $8,695,583

As filed on the 2023 return.

Listed in Part VII

  • Charles K Merkel Usn Ret

    EXECUTIVE DIRECTOR/PRESIDENT

    Total calculated
    $234,176
    From this org
    $211,250
    From related orgs
    $0
    Other
    $22,926
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $211,250
    Bonus
    $0
    Other
    $0
    Deferred
    $6,350
    Nontaxable benefits
    $16,576
    Filer's total
    $234,176

  • Peter W Miller Usn Ret

    CHAIRMAN/DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Steven Auerbach

    VICE PRESIDENT/DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • William Hicks

    TREASURER/DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Colin Yoshiyama

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Alisa Bender

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Samuel S Dannaway

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Melanie Horikami

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Alan Ito

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Thomas G Kyle

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Steven Madraccia

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Roderick J Peroff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Shauna Tonkin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Randall C Whattoff

    DIRECTOR/CORPORATE COUNSEL

    Total calculated
    $0
    Hours/week
    1

  • Caroline Witherspoon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Decaprio

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Andrew St John

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey Griffin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brian D Fila Usn Ret

    FORMER SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Samantha Sneed

    FORMER DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jack Shriver

    FORMER DIRECTOR

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
2 July 2024
IRS schema version
2023v5.1
Source object
202441849349301564

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