Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 2006.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
64 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
16 people listed on the 990; $277K paid to officers and key staff.
David Bakelman’s $153K as Executive Director is at the 99th percentile of top reported officer pay among 1016 $100K–1M recreation & sports nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 2 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| David Bakelman | $153,200 | — | — | — | — | — |
| Debra S Frenkel | $123,930 | $145,487 | $101,075 | $83,750 | $70,000 | $60,000 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Offers boating and marine education for people with disabilities, veterans, and at-risk youth.
Questions for Freedom Waters Foundation INC
Your first name shows with your question. Freedom Waters Foundation INC answers here, for everyone.
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The Organization established and supports accessible(disabled)sailing programs in Naples, FL and conducts therapeutic boating and fishing outings for cancer patients and survivors, disabled children and adults, and veterans.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.3M | $737K |
| InvestmentsLn 11–13 | $0 | $0 |
| Land, buildings, equipmentLn 10c | $263 | $263 |
| Total assetsLn 16 | $1.3M | $737K |
| LiabilitiesLn 26 | $9K | $6K |
| Net assetsLn 32 | $1.3M | $731K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $277K | $169K | $50K | $58K |
| Other salaries and wagesLn 7 | $303K | $212K | $52K | $39K |
| Other employee benefitsLn 9 | $40K | $26K | $7K | $7K |
| Payroll taxesLn 10 | $38K | $25K | $7K | $6K |
| Accounting feesLn 11c | $9K | $0 | $9K | $0 |
| Other fees for servicesLn 11g | $55K | $0 | $13K | $42K |
| Office expensesLn 13 | $18K | $10K | $7K | $933 |
| Information technologyLn 14 | $44K | $40K | $833 | $3K |
| OccupancyLn 16 | $57K | $39K | $12K | $6K |
| TravelLn 17 | $8K | $1K | $5K | $1K |
| InsuranceLn 23 | $5K | $3K | $1K | $310 |
| Other expenses (24a–d)Ln 24 | $245K | $179K | $9K | $57K |
| Total functional expensesLn 25 | $1.1M | $705K | $173K | $220K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $539K | $1.1M | −$559K | $731K | 990 PDF |
| FY2024 | $1.6M | $694K | $863K | $1.3M | 990 PDF |
| FY2023 | $601K | $713K | −$112K | $428K | 990 PDF |
| FY2022 | $594K | $585K | $9K | $534K | 990 PDF |
| FY2021 | $674K | $570K | $104K | $525K | 990 PDF |
| FY2020 | $551K | $444K | $107K | $421K | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $538,689 revenue, 12 lines filed
Part VI · Governance 13 of 14 board members independent, no flags
Part VIII · Statement of revenue $538,689 across 6 lines filed
Part IX · Statement of functional expenses $1,097,690 across 12 lines filed
Part X · Balance sheet $737,420 assets, 10 lines filed
Part XI · Reconciliation of net assets $731,395 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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