Seaworthy Foundation Inc

Analysis

Seaworthy Foundation Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in March 2022, 4 years ago. Its declared purposes cover environment, which this site groups under environment and conservation. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Seaworthy Foundation Inc reported income of $529k and spending of $183k, leaving 65% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $98k to $529k (+439%), an average of +439% a year. The sharpest change came in the year to December 2023, when income rose by 439%. Over the whole period it spent 40% of the income it received.

Among 10,430 United States charities whose main cause is environment and conservation and that reported income, Seaworthy Foundation Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 74th percentile within FL. Charities of a similar size with the same main cause include 30 Mile River Watershed Association ($529k), Upper Peninsula Resource Conservation and Development Counc ($529k) and National Energy Assistance Directors Association ($529k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 103% of the total. Compensation of current officers, directors and key employees was $47k (26% of expenses). Other salaries and wages came to $34k. At year end it held assets of $375k against liabilities of $0, net assets of $375k.