Freedom Waters Foundation Inc (EIN 204513735) - Form 990 Financial Analysis & Trantor Score

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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

2006

Legal Domicile

Principal Officer

Debra S Frenkel

Phone

2392632377

Tax Period

2024-01-01 to 2024-12-31

Freedom Waters Foundation Inc, founded in 2006, is a community nonprofit in the Recreation & Sports sector that reported $1.6M in total revenue in fiscal year 2024. Revenue surged 159% from the prior year, signaling strong growth momentum. The organization ran a surplus of $863K, a strong 55% operating margin.

Mission

To provide boating oportunities and marine related education for people with diabilities, veterans, and youth at risk.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,258,623

Program Service Revenue $0

Investment Income $11,183

Other Revenue $287,291

TOTAL REVENUE $1,557,097

Expense Breakdown

Grants Paid $0

Salaries & Benefits $336,458

Fundraising Expenses $154,622

Program Expenses $433,256

Other Expenses $357,975

TOTAL EXPENSES $694,433

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,557,097	$601,094	+1.6%
Expenses	$694,433	$713,262	0.0%
Net Income	$862,664	$-112,168	-8.7%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

471

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

$145,487

Total Directors

$145,487

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Debra S Frenkel	Founder and director	40.00	Officer Director	$145,487	$0	$145,487
Mike Clover	Director	0.00	Director	$0	$0	$0
Keith Perfect	Secretary	0.00	Officer Director	$0	$0	$0
Dawn Read Diehl	Chairman	0.00	Officer Director	$0	$0	$0
Paul Stephan	Treasurer	0.00	Officer Director	$0	$0	$0
Edward C Dernuci	Director	0.00	Director	$0	$0	$0
Scott Ward	Director	0.00	Director	$0	$0	$0
Thomas Dammrich	Director	0.00	Director	$0	$0	$0
Mary Lee Pierce	Director	0.00	Director	$0	$0	$0
Daniel Knupp	Director	0.00	Director	$0	$0	$0
Jim Hunt	Director	0.00	Director	$0	$0	$0
Dan Lane	Director	0.00	Director	$0	$0	$0
Jeff Gage	Director	0.00	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
2024	$1,557,097	$694,433	$1,299,484	$862,664
2023	$601,094	$713,262	$427,732	$-112,168
2022	$594,224	$585,435	$533,588	$8,789
2021	$673,720	$569,708	$524,799	$104,012
2020	$550,531	$443,855	$453,097	$106,676
2019	$587,303	$530,397	$314,111	$56,906
2018	$355,381	$418,297	$257,205	$-62,916

Freedom Waters Foundation Inc