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Fomares INC

Tax-deductible

Mexico501(c)(3)Since 2024Science & Technology EIN 88-2732309Revenue $306K in FY2025

On file with the IRSfomares.org/esMexico City Mexico 1100, 00000-0000 · MexicoTax-exempt since Sep 2022Publicly supported charity — 170(b)(1)(A)(vi)

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Fomares nbsp;INC nbsp;is nbsp;organized nbsp;and nbsp;operated nbsp;exclusively nbsp;for nbsp;charitable nbsp;and nbsp;educational nbsp;purposes nbsp;including nbsp;support nbsp;for nbsp;marine nbsp;conservation nbsp;environmental nbsp;education nbsp;and nbsp;related nbsp;public-benefit nbsp;initiatives

501(c)(3) charity; gifts are tax-deductible.
99¢ 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)(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
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
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 8.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$306K
+99% vs prior year
Spent
$244K
To programs
99%
Net assets
$168K
By yearFY2024–FY2025
Revenue
$306K
FY2025▲ +99%
Tap a bar for its year
Revenue by fiscal year
FY2024$154K
FY2025$306K
Net assets
$168K
FY2025▲ +148%
Tap a bar for its year
Net assets by fiscal year
FY2024$68K
FY2025$168K

From the FY2025 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 2022.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $242K Management & general 1% · $2K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Fomares 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

Fomares INC is a science and technology nonprofit based in Mexico, , formed in 2024.

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Provided by the organization

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2 programs · $242K · in their own filed words · FY2025
01

The organization supported charitable and educational marine conservation activities through grants and direct program support in mexico including funding to mission-aligned organizations and individuals for field activities project implementation and related exempt-purpose work

$139Kprogram expense
02

The organization supported charitable and educational outreach related to its exempt mission through content production technical support field documentation and related project services.

$103Kprogram expense

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 · FY2024
Donor Advised Charitable Giving INCFY2024$10K
Total grants receivedfrom 1 funder$10K

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$306K
Ln 12
Gifts and grantsLn 1h$306K
Investment incomeLn 3$12
Money outPt IX
$244K
Ln 25
Programscol B$242K
Managementcol C$2K
Owns and owesPt X
$168K
net assets · Ln 32
Cash and savingsLn 1–2$168K
Total assetsLn 16$168K
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$306K
Investment incomeLn 3$12
Total revenueLn 12$306K
Assets in detailPt X, end of year
CashLn 1$168K
Cash and savings togetherLn 1–2$168K
Total assetsLn 16$168K
LiabilitiesLn 26$0
Net assetsLn 32$168K
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$106K$168K
Total assetsLn 16$106K$168K
LiabilitiesLn 26$0$0
Net assetsLn 32$106K$168K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$139K$139K
Management feesLn 11a$103K$103K
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$175$175
Total functional expensesLn 25$244K$242K$2K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $306K$244K$62K$168K 990 PDF
FY2024 $154K$68K 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 $306,272 revenue, 12 lines filed
I-8 Contributions and grants$306,260
I-9 Program service revenue$0
I-10 Investment income$12
I-11 Other revenue$0
I-12 Total revenue$306,272
I-13 Grants and similar amounts paid$139,412
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$104,798
I-18 Total expenses$244,210
I-19 Revenue less expenses$62,062
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
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 $306,272 across 4 lines filed
VIII-1f All other contributions, gifts and grants$306,260
VIII-1h Total contributions, gifts and grants$306,260
VIII-3 Investment income$12
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$306,272
Part IX · Statement of functional expenses $244,210 across 4 lines filed
IX-1 Grants to domestic organizationsPrograms $139,412$139,412
IX-11a Management feesPrograms $102,573$102,573
IX-11c Accounting feesManagement $2,050$2,050
IX-11g Other fees for servicesManagement $175$175
IX-25 Total functional expensesPrograms $241,985 · Management $2,225 · Fundraising $0$244,210
Part X · Balance sheet $167,823 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $105,761$167,823
X-16 Total assetsStart of year $105,761$167,823
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $0$0
X-28 Net assets with donor restrictionsStart of year $105,761$167,823
X-32 Total net assets or fund balancesStart of year $105,761$167,823
X-33 Total liabilities and net assetsStart of year $105,761$167,823
Part XI · Reconciliation of net assets $167,823 net assets at year end
XI-1 Total revenue$306,272
XI-2 Total expenses$244,210
XI-3 Revenue less expenses$62,062
XI-4 Net assets at start of year$105,761
XI-10 Net assets at end of year$167,823

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

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