Miami Sci Wellness INC EIN 45-4856457

Miami Sci Wellness INC

EIN  45-4856457 Public charity (501(c)(3)) Miami, FL
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Reclaim lives through intense, exercise-based health programs boosting function and independence.
Leadership
Alfredo Iglesias · Executive Director
Money in and out
$264K revenue, $450K expenses
Bottom line
92% program efficiency

Reclaim lives through intense, exercise-based health programs boosting function and independence. For fiscal year 2024 it reported $264K in revenue, $450K in expenses, and $20K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$264K
Pt VIII · Ln 12
Total expenses
$450K
Pt IX · Ln 25
Net assets
$20K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$187K
Where spending went · Part IX cols B–D
Program services $0.92 Management & general $0.08 Fundraising $0.00
Program efficiency
92%
of spending reaches programs+0.4% vs prior filing year
Operating runway
8.8mo
months of highly liquid reserves at operating expense rate▼ -19% vs prior filing year
Surplus margin
-71%
revenue over expenses, this year▼ -85% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$264K
FY2024▼ -27%
Expenses
$450K
FY2024▼ -10%
Total assets
$517K
FY2024▼ -27%
Total liabilities
$498K
FY2024▼ -1%
Total revenue
$264K
Pt VIII · Ln 12
Total expenses
$450K
Pt IX · Ln 25
Net assets
$20K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$187K
Total assetsPt X · Ln 16$517K
Program-expense ratioPt IX · col B92%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 43
Mission & Programs · Part III

Where the work happens

1 program service account for $415K of program spending, described in the organization's own filed words · FY2024.
01

Helping people reclaim their lives by providing intense, exercise based health & fitness programs designed to increase function and maximize independence.

$415Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CMiami Sci Wellness INC
EINHdr · item D45-4856457
Principal addressHdr · item CMiami, FL
WebsiteHdr · item Jwww.iamable.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MFL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFDiseases & Disorders (G50)
Ruling yearIRS BMFMay 2013

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1b3
Conflict-of-interest policyPt VI · Ln 12aYes
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 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Program service revenue$197K · 75%
Contributions & grants$66K · 25%
Program service revenue75%$197K
Contributions & grants25%$66K
Investment income$18
Total revenueLn 12$264K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.92 Management & general $0.08 Fundraising $0.00
Program services92%$415K
Management & general8%$35K
Fundraising$227
Total functional expensesLn 25$450K

Balance Sheet

Part X · end of year
CashLn 1$329K
Total assetsLn 16$517K
Total liabilitiesLn 26$498K
Total net assetsLn 32$20K
Months of cash on handcomputed8.8

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $329K · Operating expenses/yr $450K
8.8 months
Where the money goes
Program services
Program services $415K · Total expenses $450K
92%
Management & General
Management & general $35K · Total expenses $450K
8%
Fundraising
Fundraising $227 · Total expenses $450K
0.05%
Cost to raise $1
Fundraising expense (3-yr avg) $76 · Solicited contributions (3-yr avg) $212K
$0.00 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $66K · Total revenue $264K
25%
Government reliance
Government grants — · Total revenue $264K
Earned-income share
Program service revenue $197K · Total revenue $264K
75%
Investment reliance
Investment income $18 · Total revenue $264K
<0.01%
Program self-sufficiency
Program service revenue $197K · Total expenses $450K
44%
Growth & trend
Revenue growth (YoY)
This year $264K · Prior year $361K
-27%
Revenue CAGR
FY2020 $271K · FY2024 $264K
-0.7%
Net-asset trend (YoY)
End of year $20K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $264K · Expenses $450K
-71%
Liabilities-to-Assets
Total liabilities — · Total assets $517K
Net-asset ratio
Net assets $20K · Total assets $517K
4%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $517K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Alfredo Iglesias · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $0 · Total expenses $450K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $218K · Total expenses $450K
48%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 92%
Overhead ratio 8%
Fundraising cost ratio 0.3%
Revenue growth -27%
Accounting fee ratio 0.7%

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 · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$18K
Grants paid · 5 grants · $156K · 2020–2024
Unitemized GrantFY2024$33,570
Unitemized GrantFY2023$39,185
Unitemized GrantFY2022$27,913
Unitemized GrantFY2021$33,708
Unitemized GrantFY2020$21,423

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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)$264K revenue · viewing · ⤓ 990 PDF
FY2023$361K revenue · ⤓ 990 PDF
FY2022$638K revenue · ⤓ 990 PDF
FY2021$254K revenue · ⤓ 990 PDF
FY2020$271K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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