WORK VESSELS FOR VETS INC

EIN: 263201760 501(c)(3) Human Services

WEST MYSTIC, CT

Total Revenue
$361,148
Total Expenses
$338,388
Total Assets
$196,170
Net Assets
$196,170
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2008
Legal Domicile
CT
Principal Officer
JOHN NIEKRASH
Phone
8605364418
Tax Period
2025-01-01 to 2025-12-31

WORK VESSELS FOR VETS INC, founded in 2008, is a small nonprofit in the Human Services sector that reported $361K in total revenue in fiscal year 2025. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $338K left a modest 6% surplus.

Mission

THE PURPOSE OF THE ORGANIZATION IS TO PROVIDE ASSISTANCE TO RETURNING VETERANS IN THE TRANSITION FROM THEIR MILITARY SERVICE TO THE CIVILIAN WORKFORCE. THE ORGANIZATION ASSISTS VETERANS IN ACQUIRING THE SKILL SET AND TOOLS NECESSARY FOR A SUCCESSFUL TRANSITION INTO A CIVILIAN CAREER.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $255,174
Program Service Revenue $0
Investment Income $0
Other Revenue $105,974
TOTAL REVENUE $361,148

Expense Breakdown

Grants Paid $254,280
Salaries & Benefits $0
Fundraising Expenses $4,377
Program Expenses $326,353
Other Expenses $84,108
TOTAL EXPENSES $338,388

Year-over-Year Comparison

2025 2024 Change
Revenue $361,148 $285,275 +0.3%
Expenses $338,388 $274,374 +0.2%
Net Income $22,760 $10,901 +1.1%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
10
Independent Members
10
Employees
N/A
Volunteers
45

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$0
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAN BURNS DIRECTOR, CO 2.00
Director
$0 $0 $0
KATHLEEN M BURNS DIRECTOR, CO 2.00
Director
$0 $0 $0
TODD CROLIUS DIRECTOR 2.00
Director
$0 $0 $0
CATHY DOW-ROYER SECRETARY 2.00
Officer Director
$0 $0 $0
ROBERT FIORE DIRECTOR 2.00
Director
$0 $0 $0
MARC HARRELL VICE PRESIDE 2.00
Officer Director
$0 $0 $0
JAMES FINLEY III DIRECTOR 2.00
Director
$0 $0 $0
JOHN ISENBURG TREASURER 2.00
Officer Director
$0 $0 $0
PAUL JACEY DIRECTOR 2.00
Director
$0 $0 $0
JOHN NIEKRASH PRESIDENT 2.00
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $361,148 $338,388 $196,170 $22,760
2024 $285,275 $274,374 $173,410 $10,901
2023 $219,517 $226,027 $162,509 $-6,510
2022 $304,998 $269,689 $169,019 $35,309
2021 $228,046 $212,667 $133,710 $15,379
2020 $232,087 $223,476 $118,331 $8,611
2019 $304,737 $330,516 $109,720 $-25,779
2018 $321,629 $303,197 $135,499 $18,432
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