Miami Sci Wellness INC FY2023 filing

Miami, FL · Public charity (501(c)(3)) · Diseases & Disorders

✓ Tax-deductible Latest data FY2023
Revenue
$361K
▼ -43% vs prior year
Spent
$500K
To programs
92%
Net assets
$207K
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Form 990 for the fiscal year ending December 2023 (IRS tax year 2023).

Status and standing

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
1 funder — Woody Foundation INC
$18K in the latest grant year.
Spent on programs?
92% to programs
Form 990 Part IX, latest filing.
Size and trend
$100K–1M
↓ -43% vs prior year
Legal name (IRS)Hdr · item CMiami Sci Wellness INC
EINHdr · item D45-4856457
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFMay 2013
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CMiami, FL
NTEE classificationIRS BMFDiseases & Disorders (G50)
WebsiteHdr · item Jwww.iamable.org

Where the money goes

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.92 Management & general $0.08
Program services92%$459K
Management & general8%$41K
Total functional expensesLn 25$500K

Financial health

Revenue & expenses by yearFY2020–FY2024
Revenue
$361K
FY2023▼ -43%
Expenses
$500K
FY2023▲ +21%
Program efficiency
92%
of spending reaches programs
Operating runway
10.9mo
months of highly liquid reserves at operating expense rate
Surplus margin
-38%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Total assets
$710K
FY2023▼ -17%
Total liabilities
$504K
FY2023▼ -0.8%
Revenue less expensesPt I · Ln 19−$138K
Total assetsPt X · Ln 16$710K
Program-expense ratioPt IX · col B92%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 43

Balance Sheet

Part X · end of year
CashLn 1$454K
Total assetsLn 16$710K
Total liabilitiesLn 26$504K
Total net assetsLn 32$207K
Months of cash on handcomputed10.9

Statement of Revenue

Part VIII
Program service revenue$234K · 65%
Contributions & grants$127K · 35%
Program service revenue65%$234K
Contributions & grants35%$127K
Investment income$190
Total revenueLn 12$361K

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $454K · Operating expenses/yr $500K
10.9 months
Where the money goes
Program services
Program services $459K · Total expenses $500K
92%
Management & General
Management & general $41K · Total expenses $500K
8%
Fundraising
Fundraising $0 · Total expenses $500K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $208K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $127K · Total revenue $361K
35%
Government reliance
Government grants — · Total revenue $361K
—
Earned-income share
Program service revenue $234K · Total revenue $361K
65%
Investment reliance
Investment income $190 · Total revenue $361K
+0.05%
Program self-sufficiency
Program service revenue $234K · Total expenses $500K
47%
Growth & trend
Revenue growth (YoY)
This year $361K · Prior year $638K
-43%
Net-asset trend (YoY)
End of year $207K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $361K · Expenses $500K
-38%
Liabilities-to-Assets
Total liabilities — · Total assets $710K
—
Net-asset ratio
Net assets $207K · Total assets $710K
29%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $710K
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 $500K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $207K · Total expenses $500K
41%
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%——
Revenue growth -43%——
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.

Leadership and pay

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
See Miami Sci Wellness INC executive salaries →

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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

Mission and programs

Reclaim lives through intense, exercise-based health programs boosting function and independence.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

1 program service account for $459K of program spending, described in the organization's own filed words · FY2023.
01

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

$459Kprogram expense

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Funders

From grant filings on record. Receipts are incomplete: individual donors are never listed.

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

Filing history

YearRevenueExpensesChangeFiling
FY2024 Latest $264K$450K-27% 990 PDF
FY2023 Viewing $361K$500K-43% 990 PDF
FY2022 $638K$412K+151% 990 PDF
FY2021 $254K$294K-6% 990 PDF
FY2020 $271K$259K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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