HAWAII AQUATICS FOUNDATION

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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

2017

Legal Domicile

Principal Officer

Dean E Schmaltz

Phone

8083757970

Tax Period

2023-01-01 to 2023-12-31

HAWAII AQUATICS FOUNDATION, founded in 2017, is a small nonprofit in the Recreation & Sports sector that reported $217K in total revenue in fiscal year 2023. Revenue fell 54% from the prior year — a significant decline worth monitoring. Expenses of $369K exceeded revenue, resulting in a 70% operating deficit.

Mission

To promote, provide, and support aquatic injury prevention education, program development, research, and training.

Program Service Accomplishments

Program 1

Expenses: $202,767 Revenue: $0

Aquatic safety and swim skill education services: Provide aquatic injury prevention classes to elementary school aged students during school hours. Provide service to all students regardless of their...

Program 2

Expenses: $165,900 Revenue: $0

Aquatic injury prevention education curriculum development: Research, design, and development of an aquatic injury prevention education curricula which integrate with established K-12 health and...

Aquatic injury prevention education curriculum development: Research, design, and development of an aquatic injury prevention education curricula which integrate with established K-12 health and physical education programs. Development of classroom and pool lesson plans that include both cognitive and physical skills for aquatic injury and drowning prevention. Development of age/grade level benchmarks, rubrics, and assessments. Development of instructor training programs and online resources.

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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 (2023)

Revenue Breakdown

Contributions & Grants $216,795

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $216,795

Expense Breakdown

Grants Paid $0

Salaries & Benefits $297,283

Fundraising Expenses $0

Program Expenses $368,667

Other Expenses $71,384

TOTAL EXPENSES $368,667

Year-over-Year Comparison

	2023	2022	Change
Revenue	$216,795	$475,756	-0.5%
Expenses	$368,667	$378,613	0.0%
Net Income	$-151,872	$97,143	-2.6%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Dean E Schmaltz	Chairman, President	20	Officer Director	$0	$0	$0
Mark Baker	Vice-president, Treasurer	1	Officer Director	$0	$0	$0
David Banks	Secretary	1	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
2023	$216,795	$368,667	$3,121	$-151,872
2022	$475,756	$378,613	$154,993	$97,143
2021	$291,885	$187,365	$57,850	$104,520
2020	$227,105	$295,871	$9,785	$-68,766
2019	$397,500	$393,199	$22,096	$4,301