Floatarama Inc

Analysis

Floatarama Inc is a registered charity in United States, based in Ft Lauderdale, FL. It received its IRS tax-exemption ruling in April 2022, 4 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Floatarama Inc reported income of $252k and spending of $189k, leaving 25% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $112k to $252k (+126%), an average of +126% a year. The sharpest change came in the year to December 2023, when income rose by 126%. Over the whole period it spent 77% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Floatarama Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 62nd percentile within FL. Charities of a similar size with the same main cause include Viroqua Area Foundation ($252k), Presbyterian Foundation of Boulder ($252k) and Community Wraparound ($252k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 40% and program service revenue 60% of the total. At year end it held assets of $85k against liabilities of $0, net assets of $85k.