Veterans Rowing & Kayaking INC

Tax-deductible

Sarasota, FL501(c)(3)Recreation & SportsEIN 80-0953424

To provide recreational and competitive rowing opportunities and instruction to military veterans in the surrounding communities and to promote recreational river use and environmental education

501(c)(3) charity; gifts are tax-deductible.
10¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average surplus $109K a year · 59% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
10%
of spending
Concern: 10% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$99K
16% of total assets
Looks good: liabilities are 16% of assets; 50% or less.
Pt X · Ln 26
Independent board members
19
of 19 voting members
Looks good: 19 of 19 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$26K
-66% vs prior year
Spent
$69K
To programs
10%
Net assets
$502K
By yearFY2020–FY2023
Revenue
$26K
FY2023▼ -66%
Revenue by fiscal year
FY2020$579K
FY2021$55K
FY2022$75K
FY2023$26K
Expenses
$69K
FY2023▲ +8%
Expenses by fiscal year
FY2020$98K
FY2021$69K
FY2022$64K
FY2023$69K
Net assets
$502K
FY2023▼ -8%
Net assets by fiscal year
FY2020$540K
FY2021$526K
FY2022$546K
FY2023$502K

From the FY2023 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Oct 2014.

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

Where the money goes

10 cents of each dollar spent went to programs.

Program services 10% · $7K Management & general 90% · $62K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Chairman Emeritus
$0Pt VII · Sec A
Executive Director
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
See Veterans Rowing & Kayaking 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

Offers rowing programs and river education for military veterans.

Provided by the organization

This section is blank until Veterans Rowing & Kayaking INC claims this page.

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1 program service account for $7K of program spending, described in the organization's own filed words · FY2023.
01

Created the adaptive wounded veterans rowing & kayaking program for all severely disabled veterans including, but not limited to, amputees, cancer patients, PTSD, tbi, SEVER/MODERATE depression, and substance abuse.

$7Kprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2020
Total grants receivedfrom 1 funder$5

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$26K
Ln 12
Gifts and grantsLn 1h$25K
Investment incomeLn 3$53
Money outPt IX
$69K
Ln 25
Programscol B$7K
Managementcol C$62K
Owns and owesPt X
$502K
net assets · Ln 32
Cash and savingsLn 1–2$1K
Total assetsLn 16$601K
LiabilitiesLn 26$99K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a19
IndependentVI 1b19
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$25K
Investment incomeLn 3$53
Total revenueLn 12$26K
Assets in detailPt X, end of year
CashLn 1$1K
SavingsLn 2$0
Cash and savings togetherLn 1–2$1K
InvestmentsLn 11–13$569K
Land, buildings, equipmentLn 10c$31K
Total assetsLn 16$601K
LiabilitiesLn 26$99K
Net assetsLn 32$502K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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 FY23End FY23
Cash and savingsLn 1–2$222K$1K
InvestmentsLn 11–13$433K$569K
Land, buildings, equipmentLn 10c$39K$31K
Total assetsLn 16$694K$601K
LiabilitiesLn 26$148K$99K
Net assetsLn 32$546K$502K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$7K$7K
Other fees for servicesLn 11g$15K$15K
Office expensesLn 13$3K$3K
OccupancyLn 16$115$115
TravelLn 17$12K$12K
InterestLn 20$2K$2K
Depreciation, depletion and amortizationLn 22$8K$7K$795
Other expenses (24a–d)Ln 24$22K$22K
All other expensesLn 24e$1K$1K
Total functional expensesLn 25$69K$7K$62K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest Viewing $26K$69K−$44K$502K 990 PDF
FY2022 $75K$64K$12K$546K 990 PDF
FY2021 $55K$69K−$14K$526K 990 PDF
FY2020 $579K$98K$480K$540K 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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $25,525 across 4 lines filed
VIII-1f All other contributions, gifts and grants$25,472
VIII-1h Total contributions, gifts and grants$25,472
VIII-3 Investment incomeUnrelated business $53$53
VIII-12 Total revenueRelated to mission $0 · Unrelated business $53 · Excluded from tax $0$25,525
Part IX · Statement of functional expenses $69,064 across 9 lines filed
IX-11b Legal feesManagement $6,505$6,505
IX-11g Other fees for servicesManagement $14,705$14,705
IX-13 Office expensesManagement $3,322$3,322
IX-16 OccupancyManagement $115$115
IX-17 TravelManagement $11,659$11,659
IX-20 InterestManagement $1,581$1,581
IX-22 Depreciation, depletion and amortizationPrograms $7,154 · Management $795$7,949
IX-24 Other expenses (24a–d)Management $21,782$21,782
IX-24e All other expensesManagement $1,446$1,446
IX-25 Total functional expensesPrograms $7,154 · Management $61,910 · Fundraising $0$69,064
Part X · Balance sheet $601,184 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $6,010$1,239
X-2 Savings and temporary cash investmentsStart of year $215,540$0
X-10c Land, buildings and equipment, netStart of year $39,231$31,282
X-12 Other securitiesStart of year $433,200$568,663
X-16 Total assetsStart of year $693,981$601,184
X-17 Accounts payable and accrued expensesStart of year $4,508$0
X-25 Other liabilitiesStart of year $24,617$0
X-26 Total liabilitiesStart of year $147,960$98,702
X-27 Net assets without donor restrictionsStart of year $546,021$502,482
X-32 Total net assets or fund balancesStart of year $546,021$502,482
X-33 Total liabilities and net assetsStart of year $693,981$601,184
Part XI · Reconciliation of net assets $502,482 net assets at year end
XI-1 Total revenue$25,525
XI-2 Total expenses$69,064
XI-3 Revenue less expenses−$43,539
XI-4 Net assets at start of year$546,021
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$502,482

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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