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Nonprofiteer
← SEAWORTHY FOUNDATION INC

Form 990 for tax year 2024

Filed by SEAWORTHY FOUNDATION INC.

Totals

Total revenue
$431,973
Total expenses
$557,273
Contributions and grants received
$414,428
Grants paid
$229,910
Program service revenue
$6,197
Investment income
$11,348
Other revenue
$0
Total assets, end of year
$249,840
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$249,840
Program services expenses (Part IX)
$439,498
Management and general expenses
$61,146
Fundraising expenses
$0
Program service expenses (Part III)
$439,498

Program services were 78.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $306,477

  • 1f · All other contributions, gifts and grants

    $107,951

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: Blue Startup Pitch at the Miami Boat Show

    total $3,458 · related or exempt $3,458 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: 2024 Startup Showcases Fall & Spring

    total $2,739 · related or exempt $2,739 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $11,348 · related or exempt $0 · unrelated business $11,348 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6d · Net rental income or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $229,910 · program services $173,281

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $193,445 · program services $174,100 · management and general $19,345 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $828 · program services $0 · management and general $828 · fundraising $0

  • 11c · Fees: accounting

    total $750 · program services $0 · management and general $750 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $78,820 · program services $49,703 · management and general $29,117 · fundraising $0

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $2,337 · program services $0 · management and general $2,337 · fundraising $0

  • 14 · Information technology

    total $12,218 · program services $10,996 · management and general $1,222 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $1,029 · program services $0 · management and general $1,029 · fundraising $0

  • 17 · Travel

    total $5,882 · program services $2,941 · management and general $2,941 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $31,208 · program services $28,477 · management and general $2,731 · fundraising $0

  • 20 · Interest

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $1,176 · program services $0 · management and general $1,176 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: Professional Development - Nonprofit Leadership Lab Subscription

    total $235 · program services $0 · management and general $235 · fundraising $0

  • 24b · Other expenses: Other expenses - Bank fees, donation to other non-profits, shipping

    total $153 · program services $0 · management and general $153 · fundraising $0

  • 24c · Other expenses: American Express Rewards Credit

    total -$718 · program services $0 · management and general -$718 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $375,140 · end of year $16,492

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $233,348

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $0

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $375,140 · end of year $249,840

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2024

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.

  • Seaworthys flagship startup program provides 12 weeks of bespoke support for both current and aspiring founders including access to Seaworthys global network resources service providers 1-on-1 support business curriculum grants support and opportunities for visibility. Each cohort group of startups consists of 7 startups with up to 2 cohorts per year.

    Expenses $286,998 · Grants $148,281

  • Our largest annual or bi-annual event in May and or October elevating the work of Seaworthy founders participating in our latest cohort. Founders share their latest pitches and progress developed during the startup programs. The event features a distinguished keynote speaker partner spotlights and major announcements.

    Expenses $67,981 · Revenue $2,739

  • Seaworthys 2 month program equips students and professionals who are aspiring BlueTech founders with the knowledge skills and support needed to build an ocean impact startup. Each program occurs in partnership with universities industry associations and additional stakeholders in workforce development.

    Expenses $51,859 · Grants $25,000

  • From the Miami Climate Happy Hour to the BlueTech Startupsphere during New York Climate Week we co-create events with mission-aligned partners to bridge communities and drive grassroots engagement.

    Expenses $17,404 · Revenue $3,458

  • Seaworthys educational events featuring founders participating in our startup programs provides a platform to share their thought leadership and serve as role models for our community.

    Expenses $15,256

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Daniel Kleinman

    Founder CEO

    Total calculated
    $80,000
    From this org
    $80,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    45
  • Tamara Kahn Zissman

    Director of Founder Succes

    Total calculated
    $78,750
    From this org
    $78,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

  • NOAA

    $56,629

    Repayment to NOAA from grant overpayment

  • Ocean Exchange

    $51,869

    NOAA Ocean based Climate Resilience Accelerators Phase 1 Grant Subawards

  • Braid Theory

    $51,281

    NOAA Ocean based Climate Resilience Accelerators Phase 1 Grant Subawards

  • World Ocean Council

    $45,131

    NOAA Ocean based Climate Resilience Accelerators Phase 1 Grant Subawards

  • Miami Dade College

    $25,000

    Subaward for SBA Growth Accelerator Fund Competition

Provenance

Return type
form_990
Tax year
2024
Filed
7 July 2025
IRS schema version
2024v5.1
Source object
202521889349300002

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