Wheels & Keels Foundation INC

Tax-deductible

Vero Beach, FL501(c)(3)Since 2015Human ServicesEIN 47-4684048Revenue $185K in FY2024

On file with the IRSwkvero.com1846 Mooringline Dr, 32963-3049 · Vero Beach, FLTax-exempt since Dec 2015Publicly supported charity — 170(b)(1)(A)(vi)

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Wheels & Keels Foundation, INC. Was established to provide funding for activities which visibly improve and strengthen the local community. Fundraising activities will be focused in and around a key antique and exotic car and boat show.

501(c)(3) charity; gifts are tax-deductible.
57¢ of each $1 spent went to programs.
Run by 50 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $4K a year · 2% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
57%
of spending
Worth a look: 57% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
35 mo
of spending, in cash
Looks good: 35.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $58K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$3K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$185K
+8% vs prior year
Spent
$76K
To programs
57%
Net assets
$220K
By yearFY2020–FY2024
Revenue
$185K
FY2024▲ +8%
Tap a bar for its year
Revenue by fiscal year
FY2020$45K
FY2021$189K
FY2022$218K
FY2023$171K
FY2024$171K
FY2024$185K
Expenses
$76K
FY2024▼ -64%
Tap a bar for its year
Expenses by fiscal year
FY2020$52K
FY2021$142K
FY2022$198K
FY2023$173K
FY2024$210K
FY2024$76K
Net assets
$220K
FY2024▲ +97%
Tap a bar for its year
Net assets by fiscal year
FY2020$85K
FY2021$133K
FY2022$153K
FY2023$151K
FY2024$112K
FY2024$220K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 2015.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

57 cents of each dollar spent went to programs.

Program services 57% · $43K Management & general 32% · $24K Fundraising 12% · $9K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation
Chief Executive Officer
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Wheels & Keels Foundation INC executive salaries →

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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 15aNo

Programs and updates

Funds local groups helping children and adults, especially those overlooked by larger charities.

Provided by the organization

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1 program · $43K · in their own filed words · FY2024
01

The annual activity consists of a fundraising dinner followed by a car and boat show. The 2025 show will benefit 13 charitable 501(C)(3)ORGANIZATIONS serving the treasure coast florida community.

$43Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
See all 4 funders →
Grants paid · 33 grants · $574K · 2020–2024
Unitemized GrantFY2024$10,000
Crossover Mission INCFL · FY2023$21,780
Vero Beach Rowing INCFL · FY2023$20,000
United Against Poverty INCFL · FY2023$10,000
Sally Wilkey Foundation INCFL · FY2023$10,000
Lines in the Lagoon INCFL · FY2023$7,500
Sebastian River Rowing INCFL · FY2023$6,300
Crossover Mission INCFL · FY2022$26,000
See all 33 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$185K
Ln 12
Gifts and grantsLn 1h$139K
Other incomeLn 4–11$37K
Fees for servicesLn 2g$5K
Money outPt IX
$76K
Ln 25
Programscol B$43K
Managementcol C$24K
Fundraisingcol D$9K
Owns and owesPt X
$220K
net assets · Ln 32
Cash and savingsLn 1–2$223K
Total assetsLn 16$223K
LiabilitiesLn 26$3K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$139K
Fundraising eventsLn 1c$52K
Fees for servicesLn 2g$5K
Investment incomeLn 3$4K
Other incomeLn 4–11$37K
Total revenueLn 12$185K
Assets in detailPt X, end of year
CashLn 1$122K
SavingsLn 2$101K
Cash and savings togetherLn 1–2$223K
Total assetsLn 16$223K
LiabilitiesLn 26$3K
Net assetsLn 32$220K
OperationsPt I, VI
EmployeesI 50
VolunteersI 650
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$115K$223K
Total assetsLn 16$115K$223K
LiabilitiesLn 26$3K$3K
Net assetsLn 32$112K$220K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$22K$22K
Grants to domestic individualsLn 2$10K$10K
Management feesLn 11a$9K$9K
Accounting feesLn 11c$570$570
Other fees for servicesLn 11g$2K$2K
Advertising and promotionLn 12$10K$7K$3K
Office expensesLn 13$3K$1K$1K$492
InsuranceLn 23$1K$914$563
Other expenses (24a–d)Ln 24$19K$9K$6K$4K
Total functional expensesLn 25$76K$43K$24K$9K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $171K$210K−$40K$112K 990 PDF
FY2023 $171K$173K−$3K$151K 990 PDF
FY2022 $218K$198K$20K$153K 990 PDF
FY2021 $189K$142K$48K$133K 990 PDF
FY2020 $45K$52K−$7K$85K 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
See the full FY2024 990 (6 parts)
Part I · Summary $184,507 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $66,778$138,679
I-9 Program service revenuePrior year $0$4,595
I-10 Investment incomePrior year $6,176$4,489
I-11 Other revenuePrior year $97,734$36,744
I-12 Total revenuePrior year $170,688$184,507
I-13 Grants and similar amounts paidPrior year $175,455$31,500
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $34,811$44,677
I-18 Total expensesPrior year $210,266$76,177
I-19 Revenue less expensesPrior year −$39,578$108,330
Part VI · Governance 5 of 5 board members independent, 2 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $184,507 across 7 lines filed
VIII-1c Fundraising events$52,061
VIII-1f All other contributions, gifts and grants$86,618
VIII-1h Total contributions, gifts and grants$138,679
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,595$4,595
VIII-3 Investment incomeExcluded from tax $4,489$4,489
VIII-8 Net income from fundraising eventsExcluded from tax $36,744$36,744
VIII-12 Total revenueRelated to mission $4,595 · Unrelated business $0 · Excluded from tax $41,233$184,507
Part IX · Statement of functional expenses $76,177 across 9 lines filed
IX-1 Grants to domestic organizationsPrograms $21,500$21,500
IX-2 Grants to domestic individualsPrograms $10,000$10,000
IX-11a Management feesManagement $9,200$9,200
IX-11c Accounting feesManagement $570$570
IX-11g Other fees for servicesFundraising $1,500$1,500
IX-12 Advertising and promotionManagement $6,845 · Fundraising $2,817$9,662
IX-13 Office expensesPrograms $1,307 · Management $1,198 · Fundraising $492$2,997
IX-23 InsurancePrograms $914 · Management $563$1,477
IX-24 Other expenses (24a–d)Programs $9,348 · Management $5,674 · Fundraising $4,249$19,271
IX-25 Total functional expensesPrograms $43,069 · Management $24,050 · Fundraising $9,058$76,177
Part X · Balance sheet $223,250 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $8,262$122,203
X-2 Savings and temporary cash investmentsStart of year $106,558$101,047
X-3 Pledges and grants receivableStart of year $100$0
X-16 Total assetsStart of year $114,920$223,250
X-25 Other liabilitiesStart of year $3,250$3,250
X-26 Total liabilitiesStart of year $3,250$3,250
X-27 Net assets without donor restrictionsStart of year $111,670$220,000
X-32 Total net assets or fund balancesStart of year $111,670$220,000
X-33 Total liabilities and net assetsStart of year $114,920$223,250
Part XI · Reconciliation of net assets $220,000 net assets at year end
XI-1 Total revenue$184,507
XI-2 Total expenses$76,177
XI-3 Revenue less expenses$108,330
XI-4 Net assets at start of year$111,670
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$220,000

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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