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Florida Shipowners Group INC

Not tax-deductible

Sunrise, FL501(c)(6)Community DevelopmentEIN 56-2584909Revenue $343K in FY2025

On file with the IRS1560 Sawgrass Corporate Parkway 456, 33323-2875 · Sunrise, FLTax-exempt since Feb 2007

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Florida Shipowners Group, INC. Sole function is to provide administrative and housekeeping support for fmc authorized discussion agreement.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $3K a year · 1% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Fine: 2.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 7 voting members
Worth a look: 2 of 7 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$343K
+5% vs prior year
Spent
$290K
To programs
100%
Net assets
$155K
By yearFY2020–FY2025
Revenue
$343K
FY2025▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$277K
FY2021$276K
FY2022$290K
FY2023$293K
FY2024$327K
FY2025$343K
Expenses
$290K
FY2025▼ -19%
Tap a bar for its year
Expenses by fiscal year
FY2020$270K
FY2021$273K
FY2022$319K
FY2023$273K
FY2024$360K
FY2025$290K
Net assets
$155K
FY2025▲ +52%
Tap a bar for its year
Net assets by fiscal year
FY2020$92K
FY2021$95K
FY2022$66K
FY2023$135K
FY2024$102K
FY2025$155K

From the FY2025 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 2007.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $290K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Joe Espinosa
President/Se
$0Pt VII · Sec A
Jose Gomez
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
David Hyde
Director
$0Pt VII · Sec A
Tim Martin
Director
$0Pt VII · Sec A
See Florida Shipowners Group 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

Supports an authorized discussion agreement for Florida shipowners.

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1 program · in their own filed words · FY2025
01

Expenses-program services

Pt IX · col B

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$343K
Ln 12
Fees for servicesLn 2g$343K
Money outPt IX
$290K
Ln 25
Programscol B$290K
Owns and owesPt X
$155K
net assets · Ln 32
Cash and savingsLn 1–2$71K
Total assetsLn 16$155K
LiabilitiesLn 26$0
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$343K
Total revenueLn 12$343K
Assets in detailPt X, end of year
CashLn 1$71K
Cash and savings togetherLn 1–2$71K
Total assetsLn 16$155K
LiabilitiesLn 26$0
Net assetsLn 32$155K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$69K$71K
Total assetsLn 16$102K$155K
LiabilitiesLn 26$0$0
Net assetsLn 32$102K$155K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$207K$207K
Legal feesLn 11b$41K$41K
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$509$509
Office expensesLn 13$7K$7K
Information technologyLn 14$4K$4K
OccupancyLn 16$22K$22K
TravelLn 17$8$8
Conferences, conventions and meetingsLn 19$4K$4K
InsuranceLn 23$3K$3K
Total functional expensesLn 25$290K$290K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $343K$290K$53K$155K 990 PDF
FY2024 $327K$360K−$33K$102K 990 PDF
FY2023 $293K$273K$20K$135K 990 PDF
FY2022 $290K$319K−$29K$66K 990 PDF
FY2021 $276K$273K$3K$95K 990 PDF
FY2020 $277K$270K$7K$92K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $343,068 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $326,960$343,068
I-10 Investment incomePrior year $28$0
I-11 Other revenue$0
I-12 Total revenuePrior year $326,988$343,068
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $360,043$290,071
I-18 Total expensesPrior year $360,043$290,071
I-19 Revenue less expensesPrior year −$33,055$52,997
Part VI · Governance 2 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members2
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $343,068 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $343,068$343,068
VIII-12 Total revenueRelated to mission $343,068$343,068
Part IX · Statement of functional expenses $290,071 across 10 lines filed
IX-11a Management feesPrograms $206,803$206,803
IX-11b Legal feesPrograms $40,517$40,517
IX-11c Accounting feesPrograms $1,900$1,900
IX-11g Other fees for servicesPrograms $509$509
IX-13 Office expensesPrograms $7,439$7,439
IX-14 Information technologyPrograms $4,166$4,166
IX-16 OccupancyPrograms $21,691$21,691
IX-17 TravelPrograms $8$8
IX-19 Conferences, conventions and meetingsPrograms $3,676$3,676
IX-23 InsurancePrograms $3,362$3,362
IX-25 Total functional expensesPrograms $290,071 · Management $0 · Fundraising $0$290,071
Part X · Balance sheet $155,424 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $68,689$71,084
X-4 Accounts receivableStart of year $33,738$84,340
X-16 Total assetsStart of year $102,427$155,424
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $102,427$155,424
X-33 Total liabilities and net assetsStart of year $102,427$155,424
Part XI · Reconciliation of net assets $155,424 net assets at year end
XI-1 Total revenue$343,068
XI-2 Total expenses$290,071
XI-3 Revenue less expenses$52,997
XI-4 Net assets at start of year$102,427
XI-10 Net assets at end of year$155,424

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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