Floating Doctors INC EIN 30-0492985 Form 990 (PDF) Claim this org

Floating Doctors INC FY2021 filing

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Provide medical care and improve healthcare delivery in developing nations. For fiscal year 2021 it reported $473K in revenue, $475K in expenses, and $1.5M in net assets.Pt I

Type
Public charity (501(c)(3)) · Health Care
Location
Topanga, CA
Website
www.floatingdoctors.com
Filings
4 on file (2021–2021)
Revenue
$473KFY2021
Expenses
$475K
Net assets
$1.5M
People
3
Filings
4
Updates
0
More identity details & actions ⌄
EIN  30-0492985 Public charity (501(c)(3)) Topanga, CA
Form 990 (PDF)
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →
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Size
$1–10M
What they do
Provide medical care and improve healthcare delivery in developing nations.
Leadership
Benjamin Labrot · President · $27K
Money in and out
$473K revenue, $475K expenses
Bottom line
77% program efficiency
Where the money goes · FY2021
Total revenue
$473K
Pt VIII · Ln 12
Total expenses
$475K
Pt IX · Ln 25
Net assets
$1.5M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$1K
Where spending went · Part IX cols B–D
Program services $0.77 Management & general $0.20 Fundraising $0.03
Program efficiency
77%
of spending reaches programs
Operating runway
3.7mo
months of highly liquid reserves at operating expense rate
Surplus margin
-0.3%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$473K
FY2021
Expenses
$475K
FY2021
Total assets
$1.5M
FY2021
Total liabilities
$7K
FY2021
Total revenue
$473K
Pt VIII · Ln 12
Total expenses
$475K
Pt IX · Ln 25
Net assets
$1.5M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$1K
Total assetsPt X · Ln 16$1.5M
Program-expense ratioPt IX · col B77%
Voting members of governing bodyPt I · Ln 34
Independent voting membersPt I · Ln 4pending
Mission & Programs · Part III

Where the work happens

1 program service account for $364K of program spending, described in the organization's own filed words · FY2021.
01

Over 120,000 people live in our current mission location, the province of bocas del toro in panama. About 80,000 people, primarily indigenous ngabe-bugle, live scattered across small islands, mangroves swamps, and along jungle river systems in remote rural locations with little or no access to services.

$364Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CFloating Doctors INC
EINHdr · item D30-0492985
Principal addressHdr · item CTopanga, CA
WebsiteHdr · item Jwww.floatingdoctors.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MCA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHealth Care (E990)
Ruling yearIRS BMFApr 2009

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a4
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$26,700Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021
Benjamin Labrot$21,000$19,250$3,750$26,700

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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Statement of Revenue

Part VIII
Contributions & grants$358K · 76%
Program service revenue$115K · 24%
Contributions & grants76%$358K
Program service revenue24%$115K
Investment income$905
Total revenueLn 12$473K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.77 Management & general $0.20 Fundraising $0.03
Program services77%$364K
Management & general20%$94K
Fundraising3%$16K
Total functional expensesLn 25$475K

Balance Sheet

Part X · end of year
CashLn 1$146K
Total assetsLn 16$1.5M
Total liabilitiesLn 26$7K
Total net assetsLn 32$1.5M
Months of cash on handcomputed3.7

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $146K · Operating expenses (Pt IX) $475K · Less non-cash grants $2K · Cash operating expenses/yr $473K
3.7 months
Where the money goes
Program services
Program services $364K · Total expenses $475K
77%
Management & General
Management & general $94K · Total expenses $475K
20%
Fundraising
Fundraising $16K · Total expenses $475K
3%
Cost to raise $1
Fundraising expense $16K · Solicited contributions $358K
$0.05 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $358K · Total revenue $473K
76%
Government reliance
Government grants — · Total revenue $473K
Earned-income share
Program service revenue $115K · Total revenue $473K
24%
Investment reliance
Investment income $905 · Total revenue $473K
+0.2%
Program self-sufficiency
Program service revenue $115K · Total expenses $475K
24%
Growth & trend
Revenue growth (YoY)
This year $473K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $1.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $473K · Expenses $475K
-0.3%
Liabilities-to-Assets
Total liabilities — · Total assets $1.5M
Net-asset ratio
Net assets $1.5M · Total assets $1.5M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.5M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Benjamin Labrot · Reported title PRESIDENT · Highest reported compensation $27K · Total expenses $475K
6%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $266K · Total expenses $475K
56%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 77%
Overhead ratio 20%
Fundraising cost ratio 5%
Legal fee ratio 0.5%
Accounting fee ratio 1%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 2 funders$48K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$1.1M revenue · ⤓ 990 PDF
FY2023$664K revenue · ⤓ 990 PDF
FY2022$746K revenue · ⤓ 990 PDF
FY2021$473K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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