Seaworthy Foundation Inc (EIN 872883986) - 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

2021

Legal Domicile

Tax Period

2024-01-01 to 2024-12-31

Seaworthy Foundation Inc, founded in 2021, is a small nonprofit in the Environment sector that reported $432K in total revenue in fiscal year 2024. Revenue decreased 18% compared to the prior year. Expenses of $557K exceeded revenue, resulting in a 29% operating deficit.

Mission

Seaworthy Collective is a Miami-based 501c3 nonprofit that supports current and aspiring entrepreneurs driving innovation for ocean impact AKA BlueTech. Our mission is to bring all hands on deck for BlueTech via programs to co-create and grow early-stage startups build regional capacity and educate our community.

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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 $414,428

Program Service Revenue $6,197

Investment Income $11,348

Other Revenue $0

TOTAL REVENUE $431,973

Expense Breakdown

Grants Paid $229,910

Salaries & Benefits $193,445

Fundraising Expenses $0

Program Expenses $439,498

Other Expenses $133,918

TOTAL EXPENSES $557,273

Year-over-Year Comparison

	2024	2023	Change
Revenue	$431,973	$529,089	-0.2%
Expenses	$557,273	$711,956	-0.2%
Net Income	$-125,300	$-182,867	-0.3%

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

N/A

Volunteers

N/A

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

$80,000

Key Employees

$78,750

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Daniel Kleinman	Founder CEO	45.00	Director	$80,000	$0	$80,000
Tamara Kahn Zissman	Director of Founder Succes	40.00	Key Emp	$78,750	$0	$78,750

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	$431,973	$557,273	$249,840	$-125,300
2023	$529,089	$182,867	$375,140	$346,222

Seaworthy Foundation Inc