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Nonprofiteer
← FOUNDATION FOR UNDERWAY EXPERIENTIAL LEARNING INC

Form 990 for tax year 2024

Filed by FOUNDATION FOR UNDERWAY EXPERIENTIAL LEARNING INC.

Totals

Total revenue
$1,878,693
Total expenses
$821,784
Contributions and grants received
$1,381,945
Grants paid
$0
Program service revenue
$419,156
Investment income
$77,592
Other revenue
$0
Total assets, end of year
$5,333,136
Total liabilities, end of year
$26,927
Net assets or fund balances, end of year
$5,306,209
Program services expenses (Part IX)
$552,117
Management and general expenses
$171,975
Fundraising expenses
$97,692
Program service expenses (Part III)
$552,117

Program services were 67.2% 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.

  • 1f · All other contributions, gifts and grants

    $1,381,945

  • 2a · Program service revenue: TUITION & CHARTER INCOME

    total $411,460 · related or exempt $411,460

  • 2b · Program service revenue: OPERATING REVENUE - OTHER

    total $7,696 · related or exempt $7,696

  • 3 · Investment income

    total $77,592 · excluded $77,592

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $180,000 · program services $180,000

  • 7 · Other salaries and wages

    total $166,528 · program services $45,243 · management and general $76,236 · fundraising $45,049

  • 9 · Other employee benefits

    total $32,576 · program services $21,174 · management and general $7,167 · fundraising $4,235

  • 10 · Payroll taxes

    total $34,122 · program services $22,180 · management and general $7,507 · fundraising $4,435

  • 11c · Fees: accounting

    total $29,513 · management and general $29,513

  • 11f · Fees: investment management

    total $6,410 · management and general $6,410

  • 11g · Fees: other

    total $13,752 · program services $13,752

  • 12 · Advertising and promotion

    total $29,320 · fundraising $29,320

  • 13 · Office expenses

    total $20,298 · program services $1,256 · management and general $16,926 · fundraising $2,116

  • 14 · Information technology

    total $8,417 · program services $5,471 · management and general $1,852 · fundraising $1,094

  • 16 · Occupancy

    total $36,633 · program services $23,811 · management and general $8,059 · fundraising $4,763

  • 17 · Travel

    total $5,899 · program services $502 · management and general $2,864 · fundraising $2,533

  • 22 · Depreciation, depletion and amortization

    total $121,757 · program services $121,757

  • 23 · Insurance

    total $28,893 · program services $27,770 · management and general $706 · fundraising $417

  • 24a · Other expenses: PROGRAM SUPPLIES

    total $72,087 · program services $68,110 · management and general $3,977

  • 24b · Other expenses: BANK AND OTHER FEES

    total $14,487 · program services $9,417 · management and general $3,187 · fundraising $1,883

  • 24c · Other expenses: EXPENSES - OTHER

    total $13,854 · program services $4,436 · management and general $7,571 · fundraising $1,847

  • 24d · Other expenses: REPAIRS & MAINTENANCE

    total $3,950 · program services $3,950

  • 24e · All other expenses

    total $3,288 · program services $3,288

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $572,324 · end of year $730,591

  • 2 · Savings and temporary cash investments

    beginning of year $1,434,292 · end of year $1,908,792

  • 3 · Pledges and grants receivable

    end of year $497,500

  • 9 · Prepaid expenses and deferred charges

    beginning of year $35,889 · end of year $8,640

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

    $2,436,809

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

    $474,343

  • 10c · Land, buildings and equipment, net

    beginning of year $2,084,223 · end of year $1,962,466

  • 15 · Other assets

    beginning of year $136,500 · end of year $225,147

  • 17 · Accounts payable and accrued expenses

    beginning of year $21,040 · end of year $21,057

  • 19 · Deferred revenue

    beginning of year $9,090 · end of year $5,870

  • 27 · Net assets without donor restrictions

    beginning of year $3,497,675 · end of year $3,738,709

  • 28 · Net assets with donor restrictions

    beginning of year $735,423 · end of year $1,567,500

Mission and programs · 2024

Mission

FUEL OFFERS COLLEGE CURRICULUM IN AN EXPERIMENTAL FRAMEWORK ONBOARD A WORLD-VOYAGING SAILING SHIP.

Activities or mission (Part I)

FUEL OFFERS COLLEGE CURRICULUM IN AN EXPERIMENTAL FRAMEWORK ONBOARD A WORLD VOYAGING SAILING SHIP. THROUGH VOYAGES AT SEA, FUEL EMBOLDENS YOUTH TO IMPROVE THE WORLD.

  • FUEL PROVIDES STUDENTS LIFE CHANGING JOURNEYS WHICH ALLOW THEM TO DISCOVER THEIR PERSONAL POTENTIAL THROUGH LEARNING. UPON COMPLETION OF THE PROGRAM STUDENTS WILL RECEIVE THEIR FIRST SEA SERVICE LETTER THAT CAN BE USED TOWARDS OBTAINING A UNITED STATES COAST GUARD CAPTAINS LICENSE.

    Expenses $552,117

As filed on the 2024 return.

Listed in Part VII

  • Harry Dickerson

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • Sally Walsh

    VICE CHAIRMA

    Total calculated
    $0
    Hours/week
    5

  • John Keene

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Tracey Overbeck Stead

    CLERK

    Total calculated
    $0
    Hours/week
    5

  • Peter F Carr II

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Derek Fairchild-Coppoletti

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Brian Bristol

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Daniel Ian Ridgeway

    CO-EXEC DIRE

    Total calculated
    $90,000
    From this org
    $90,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Casey Blum

    CO-EXEC DIRE

    Total calculated
    $90,000
    From this org
    $90,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
10 November 2025
IRS schema version
2024v5.0
Source object
202533209349301163

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